Lake Area Corn Processors Stock (OTC: LKCRU)

Latest news for Lake Area Corn Processors (OTC:LKCRU) Stock

Lake Area Corn Processors LLC is a South Dakota limited liability company that owns and manages an ethanol plant that has a nameplate production capacity of 90 million gallons of ethanol per year through its wholly-owned subsidiary Dakota Ethanol, LLC. The principal products produced at the ethanol plant are fuel-grade ethanol, distillers grains and corn oil. The company reports its financial and operating performance in two segments production, which includes the manufacture and marketing of fuel-grade ethanol and co-products of the ethanol production process and ethanol-producing equity method investments, which consists of the aggregation of the company's two equity method operating segments of investment in Guardian Hankinson, LLC and investment in Ring-neck Energy & Feed, LLC.

Lake Area Corn Processors LLC

Australia is set to introduce new legislation aimed at banning children from using popular social media platforms like Elon Musk&#8217;s X, Mark Zuckerberg&#8216;s Meta Platforms Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>)-owned Instagram and Facebook, and Bytedance&#8216;s TikTok. The move is driven by growing concerns over the potential health risks associated with <a href="https://www.benzinga.com/news/24/06/39562479/australian-pm-slams-meta-as-arrogant-and-irresponsible-urges-payment-to-news-outlets-they-should-ful">social media use among minors</a>.
What Happened: Australia announced plans on Tuesday to introduce a law this year to prohibit children from using social media platforms, citing potential health risks, reported Reuters.
Australian Prime Minister Anthony Albanese stated that his center-left government will initiate an age verification trial in the upcoming months. Albanese emphasized the importance of children engaging in real-world activities over virtual interactions, as he believes social media contributes to social harm.
Albanese mentioned that the age limits for the proposed ban are still under consideration, specifically targeting the range between 14 and 16 years old. He expressed concerns over cyberbullying and the ease with which children can access harmful content online.
This initiative follows a request in July by Australia&#8217;s eSafety regulator for internet companies to create an enforceable code to prevent children from viewing inappropriate material. Failure to comply could result in the imposition of a mandatory code.
Albanese acknowledged the global nature of the issue, noting that various countries are grappling with similar challenges. He remarked, &#8220;This is a global issue that governments around the globe are trying to deal with &#8230; we know that it&#8217;s not simple and it&#8217;s not easy, otherwise governments would have responded before.&#8221;
See Also: <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-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Another Retailer Takes Chapter 11 Route: Big Lots Files For Bankruptcy And Agrees To Sell Assets To Nexus Capital As Economic Pressures Mount</a>
Why It Matters: The proposed ban on children using social media in Australia comes amid increasing scrutiny of social media platforms. In June, Prime Minister Albanese criticized Meta Platforms Inc. for its &#8220;arrogant and irresponsible&#8221; behavior, urging the <a href="https://www.benzinga.com/news/24/06/39562479/australian-pm-slams-meta-as-arrogant-and-irresponsible-urges-payment-to-news-outlets-they-should-ful">company to continue paying local media</a> organizations for their content. 
This criticism followed Meta&#8217;s warning that it <a href="https://www.benzinga.com/markets/equities/24/06/39542628/mark-zuckerbergs-meta-warns-it-may-block-news-content-in-australia-if-asked-to-pay-licensing-fee">might block news content</a> in Australia if forced to pay licensing fees.
Earlier in June, Musk&#8217;s X, formerly known as Twitter, won a <a href="https://www.benzinga.com/news/24/06/39184541/elon-musk-says-freedom-of-speech-is-worth-fighting-for-after-australia-drops-legal-battle-against-x">legal battle against the Australian government</a>, which had sought to remove footage of a church stabbing in Sydney. Musk emphasized the importance of &#8220;freedom of speech&#8221; following the case&#8217;s dismissal.
In May, the Australian government <a href="https://www.benzinga.com/government/24/05/38751844/australia-calls-for-inquiry-into-metas-facebook-elon-musks-x-tiktok-to-make-these-platforms-accounta">announced a parliamentary inquiry</a> into the operations of major social media platforms, including Meta&#8217;s Facebook, Musk&#8217;s X, and TikTok, aiming to hold these platforms accountable for their decisions.
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

News

Social Media

Markets

After Feud With Elon Musk And Mark Zuckerberg, Australian PM Anthony Albanese Set To Ban Social Media For Children, Citing Health Concerns

Bettors on the decentralized prediction platform Polymarket expected few mentions of cryptocurrencies and Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) in the hotly anticipated presidential debate between Donald Trump and Kamala Harris.
What happened: The odds of Republican hopeful Trump uttering the words <a href="https://polymarket.com/event/what-will-trump-say-at-the-debate?tid=1725929375654">stood </a>at 14% as of this writing, significantly down from 23% seen on Sunday.&nbsp;
Wagers worth more than $129,000 were placed on the probability of the occurrence, higher than some of the other burning topics like abortion and border security.
The odds of Harris mentioning cryptocurrency and Bitcoin was at 10%, a decline from 14% seen during the weekend.
Trump continued to lead Harris in presidency betting odds, with bettors expecting a 52% chance of the Republican winning the race for the White House.
Polymarket, built atop Ethereum&#8217;s (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) Layer-2 chain, Polygon (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/matic/usd">MATIC</a>), has emerged as one of the world's top prediction markets for U.S. elections in the last few months. The novel initiative allows users to bet on major global events using cryptocurrencies.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40766075/peter-schiff-will-accept-he-was-wrong-about-bitcoin-if-restaurants-begin-to-show-prices-in">Peter Schiff Will Accept He Was Wrong About Bitcoin If Restaurants Begin To Show Prices In Satoshis Among Other Things</a>
Why It Matters: The upcoming debate will be the second of this election cycle and the first between Trump and Harris, who replaced incumbent Joe Biden <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">following his withdrawal</a> from the race after the first presidential debate.
Notably, the last debate between Biden and Trump <a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39540605/bitcoin-fails-to-get-a-mention-in-the-fiery-trump-biden-presidential-debate-coins-themed-a">saw no mentions</a> of cryptocurrency or Bitcoin. 
The outcome of the election was <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40778409/donald-trump-winning-the-election-could-propel-bitcoin-to-90k-but-a-kamala-harris-win-coul">expected to have serious implications</a> for Bitcoin's price, according to a Bernstein report.
A Trump victory could propel Bitcoin to new heights, potentially reaching $80,000 to $90,000 by the end of Q4, the report said, citing the <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40778409/donald-trump-winning-the-election-could-propel-bitcoin-to-90k-but-a-kamala-harris-win-coul">former president's vocal support </a>for the asset class.
On the contrary, a Harris presidency could witness the leading cryptocurrency dropping to the&nbsp; $30,000 to $40,000 range. The analysis identified the absence of cryptocurrency mentions in the Vice President&#8217;s speeches and policy pronouncements as a contributing cause to the uncertainty.
While Harris has not shown her stance on cryptocurrencies, her campaign team <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40699678/trump-campaign-more-explicit-in-embracing-crypto-says-coinbases-legal-head-but-encouraged-">has tried to engage with top industry names</a> like Coinbase and also <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40752278/ripple-co-founder-backs-kamala-harris-while-crypto-regulatory-debates-continue">earned the support</a> of Ripple co-founder Chris Larsen.
Photo Courtesy: Shutterstock.com
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Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

Politics

$BTC

$ETH

$MATIC

Biden And Trump Debate Had 0 Mention Of Bitcoin, What Are The Odds Kamala Harris And Ex-President Will End Up Discussing Crypto?

On Monday, Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) released its <a href="https://www.benzinga.com/news/24/09/40780100/apple-intelligence-ready-iphone-16-with-faster-processor-dedicated-camera-button-announced-check-pri">latest smartphone series</a> along with some other next-generation products during its &#8220;Glowtime&#8221; event. However, Tesla and SpaceX CEO Elon Musk found the hardware upgrades of the iPhone 16 lackluster.
What Happened:&nbsp;When a user on X, formerly Twitter, commented on the iPhone 16 stating that it was essentially the same phone with just two new buttons and a new color, Musk responded sarcastically, &#8220;For only $50B in R&amp;D, what a bargain!&#8221;
<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">For only $50B in R&amp;D, what a bargain! &#x1f602;
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1833217867384324475?ref_src=twsrc%5Etfw">September 9, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/09/40767860/mark-cuban-praises-elon-musks-ai-chatbot-grok-for-answering-kamala-harris-pov-on-immigration-i-think?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mark Cuban Praises Elon Musk&#8217;s AI Chatbot Grok For Answering Kamala Harris&#8217; POV On Immigration: &#8216;I Think It&#8217;s Accurate&#8217;</a>
In a separate post, a user&nbsp;posted a meme based on the famous &#8220;Spider-Man pointing at Spider-Man&#8221; scene, featuring different iPhone models, implying their similarities despite being different models. 
Musk commented on the post saying, &#8220;It's hard to tell the&nbsp;difference without looking closely.&#8221;
<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">It's hard to tell the difference without looking closely
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1833217562244747460?ref_src=twsrc%5Etfw">September 9, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
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Why It Matters: This isn&#8217;t the first time Musk has expressed skepticism about the incremental upgrades in Apple&#8217;s iPhone series. 
In September 2023, the tech billionaire admitted his <a href="https://www.benzinga.com/news/23/09/34344610/elon-musk-doesnt-know-how-his-current-iphone-is-better-than-prior-versions-netizens-compare-it-with">uncertainty about discerning</a> the distinction between his current smartphone by&nbsp;Apple and previous iPhone versions.
&#8220;I'm not entirely clear on the differences between my current iPhone and the prior versions. Camera is 10% better,&#8221; he stated at the time. His statement sparked a discussion on the iPhone&#8217;s comparison with Android devices to Tesla&#8217;s product lineup.
However, later that month, Musk praised the iPhone 15&#8217;s photo capabilities and <a href="https://www.benzinga.com/news/23/09/34835034/tesla-ceo-elon-musk-is-so-impressed-by-apples-iphone-15-photos-that-he-tells-tim-cook-im-buying-one">expressed his intention to buy one</a>.
Image via Shutterstock
Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.&nbsp;
Read Next:&nbsp;
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Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Tech

AAPL

Elon Musk Liked The Camera On iPhone 15, But iPhone 16 Doesn't Get Much Love From The Techno King: Here's What He Said

Former President Donald Trump is currently leading Vice President Kamala Harris by a slim margin in Florida, his home state, according to a recent poll. This development suggests a close contest in the forthcoming November elections.
What Happened: A Morning Consult poll released on Monday shows Trump leading Harris by a mere two points, with 49% support to Harris&#8217;s 47% in Florida. The poll&#8217;s margin of error is plus or minus two points, <a href="https://thehill.com/homenews/campaign/4870702-florida-trump-harris-poll/">reported</a> The Hill.
Earlier polls indicated a slightly larger lead for Trump. The Hill/Decision Desk HQ&#8217;s average had Trump ahead of Harris by 3.3 percentage points, while a poll by The Hill and Emerson College last week showed Trump leading by 5 points in Florida.
See Also: <a href="https://www.benzinga.com/news/24/09/40758404/trump-vs-harris-latest-poll-shows-the-two-presidential-candidates-are-neck-and-neck-in-these-two-sta?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Vs. Harris: Latest Poll Shows The Two Presidential Candidates Are Neck And Neck In These Two States</a>
In the state&#8217;s Senate race, incumbent Sen. Rick Scott (R) is leading former Rep. Debbie Mucarsel-Powell (D) by 5 points, according to The Hill/Decision Desk HQ&#8217;s average.
The latest poll data indicates a tightening race in Florida, a state traditionally dominated by Republicans in recent elections. The Harris campaign has recently focused on reproductive rights as Florida prepares to vote on Amendment 4, which would enshrine abortion rights into the state&#8217;s constitution.
Why It Matters: The recent polls reflect a nail-biting presidential race, with <a href="https://www.benzinga.com/news/24/09/40764622/harris-vs-trump-a-nail-biting-presidential-race-see-which-candidate-is-gaining-the-upper-hand">Harris and Trump nearly tied</a> in key polls. This sets the stage for a riveting presidential debate, one of the <a href="https://www.benzinga.com/general/politics/24/09/40782598/harris-vs-trump-how-to-watch-2024-presidential-debate-rule-disputes-and-key-topics-for-voters">biggest events of the election cycle</a>, with less than two months until the 2024 presidential election. 
The debate is set to air at 9 p.m. ET Tuesday and will be hosted by ABC News Live anchor Linsey Davis and World News Tonight anchor David Muir.
Photo Courtesy: Shutterstock.com
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

General

Kamala Harris Closes Gap With Trump In Florida; Ex-President Now Leads VP By Just 2 Points On Home Turf, Poll Shows

In a recent development, GOP vice presidential nominee Sen. JD Vance (Ohio) has been echoing a discredited claim about Haitian immigrants in Springfield, Ohio. The senator alleged that these immigrants are abducting and eating pets, a claim that has been reportedly debunked, as reported by <a href="https://thehill.com/homenews/campaign/4869901-vance-haitians-eating-pets-ohio-trump/">The Hill</a>.
What Happened: Vance made these allegations in a post on a social platform, referencing a discredited social media post. He also shared a video of himself reading a letter from Springfield city manager Bryan Heck at a July Senate Banking, Housing and Urban Affairs Committee hearing. The letter discussed the city&#8217;s challenges in providing housing for a growing Haitian immigrant population, reported The Hill.
However, both the Springfield Police Division and Heck have denied any incidents of pets being stolen or eaten. Heck stated that these false allegations are distracting from the real issues faced by Springfield, such as housing shortages and an overwhelmed healthcare system.
The false claims were also shared by national figures including Charlie Kirk and Elon Musk over the weekend. The accusations have been widely circulated on right-wing social media, with Sen. Ted Cruz (R-Texas) and the House Judiciary Committee Republicans X account also posting related content.
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="597" height="702" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/09211514/Screenshot-2024-09-10-at-10.10.55.png" alt="" class="wp-image-538562" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/09211514/Screenshot-2024-09-10-at-10.10.55.png 597w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/09211514/Screenshot-2024-09-10-at-10.10.55-255x300.png 255w" sizes="(max-width: 597px) 100vw, 597px" /></figure>
Musk shared a video of Harris saying that the Biden administration gave Temporary Protected Status to Haitians. She said initially 55,000 migrants were given this status and it was extended to over 100,000 later because they needed support and protection. 
The SpaceX and Tesla CEO said on X, &#8220;Vote for Kamala if you want this to happen to your neighborhood!&#8221; Musk&#8217;s comments were in response to a post claiming that 20,000 non-citizen Haitians had destroyed a town in Ohio and had &#8216;reportedly&#8217; killed and eaten people&#8217;s pets.
Springfield police were cited as saying there are 12,000 to 15,000 people from Haiti living in the city by the report.
See Also: <a href="https://www.benzinga.com/news/24/09/40764734/mary-trump-donald-trump-could-be-incredibly-dangerous-why-muted-mic-wont-be-advantage-for-ex-preside?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mary Trump: Donald Trump Could Be &#8216;Incredibly Dangerous&#8217;: Why Muted Mic Won&#8217;t Be Advantage For Ex-President At Tuesday Debate</a>
Why It Matters: This isn&#8217;t the first time that JD Vance has made controversial claims. In August, Vance made a claim about <a href="https://www.benzinga.com/markets/cannabis/24/08/40438757/jd-vance-says-theres-fentanyl-in-marijuana-teenagers-are-using-trump-running-mate-raises-eyebrow">fentanyl-laced marijuana</a> and accused Harris of allowing cartels to <a href="https://www.benzinga.com/markets/cannabis/24/09/40764643/jd-vance-accuses-kamala-harris-of-allowing-cartels-to-sex-traffic-minors-citing-thousands-of-mis">sex traffic minors</a>.
Meanwhile, Musk, who recently voiced his support for Trump, has also shared these false claims. Musk <a href="https://www.benzinga.com/news/24/08/40329702/elon-musk-who-once-queued-for-6-hours-to-shake-obamas-hand-explains-why-hes-now-supporting-trump-my">voiced support for Trump</a> recently. Later this month, Trump announced plans to <a href="https://www.benzinga.com/government/24/09/40739165/trump-plans-to-appoint-elon-musk-to-government-efficiency-commission-if-elected-tesla-ceo-says-hell">appoint Musk to a government efficiency commission</a> if elected.
Photo Courtesy: Shutterstock
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JD Vance Reportedly Falsely Accused Haitians Of Abducting And Eating Pets: Elon Musk Says Vote For Kamala Harris If You Want That In Your Neighborhood

A tentative labor agreement between Boeing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) and one of its largest unions has <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40779678/boeings-tentative-union-deal-and-starliner-return-boost-sentiment-but-analyst-remai">left many workers dissatisfied</a>, ahead of the crucial vote.
What Happened: The International Association of Machinists and Aerospace Workers, representing over 32,000 employees in the Pacific Northwest, announced the deal with Boeing on Sunday, reported Reuters. The announcement boosted Boeing&#8217;s shares on Monday.
Jon Holden, president of IAM&#8217;s district 751 and lead negotiator, stated that workers are upset, hoping for higher wage increases and better pensions. The union members are set to vote on the deal on Thursday, with the possibility of a strike looming.
&#8220;They&#8217;re angry,&#8221; Holden said according to the report, expressing his belief that it was the best deal the union could secure through negotiations.
See Also: <a href="https://www.benzinga.com/markets/equities/24/09/40769921/palantir-stock-soars-in-monday-premarket-whats-driving-the-surge?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Palantir Stock Soars In Monday Premarket: What&#8217;s Driving The Surge?</a>
The proposed four-year contract includes a 25% general wage increase and a commitment from Boeing to build its next commercial airplane in Seattle, provided the program launches within the contract period.
Holden mentioned that many members were expecting a 40% pay rise and the reinstatement of the defined-benefit pension plan lost a decade ago. If the deal is rejected and a strike ensues, it could challenge new Boeing CEO Kelly Ortberg, according to the report, who recently took office with a mandate to improve safety and production of the 737 MAX.
Why It Matters: The tentative agreement comes at a critical time for Boeing Co., which has been navigating several challenges. On Monday, Boeing shares rose nearly 3% in pre-market trading following the announcement of the preliminary agreement, potentially averting a <a href="https://www.benzinga.com/news/24/09/40768691/boeing-shares-rise-nearly-3-in-pre-market-after-tentative-deal-with-workers-union-to-avert-september">strike that could disrupt operations</a>.
However, the company has been facing financial hurdles. Last week, Wells Fargo suggested that Boeing might need to <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40698064/boeings-cash-flow-goal-may-be-pushed-back-wells-fargo-says-while-lowering-outlook">delay its annual free cash flow target</a> of $10 billion by two years to 2027-'28 and come up with $30 billion before it can start designing a new aircraft. This led to a downgrade of Boeing&#8217;s stock from Equal-Weight to Underweight. 
Safety concerns have also been a significant issue for Boeing. A recent survey revealed that travelers are increasingly considering the <a href="https://www.benzinga.com/news/24/09/40673884/boeing-safety-fears-prompt-travelers-to-double-check-aircraft-details-before-booking-study">type of aircraft</a> before booking flights due to growing concerns about aircraft safety.
Price Action: Boeing closed at $162.91 on Monday, up 3.36% for the day. After-hours trading, the stock dipped slightly by 0.0061%. Year to date, Boeing has declined by 35.29%, according to <a href="https://pro.benzinga.com/dashboard">data from Benzinga Pro</a>.
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Image Via Shutterstock 
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Equities

Global

Boeing Labor Deal Sparks Anger Among Union Workers Ahead Of Crucial Vote: 'They're Angry'

SIRI

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

The Warren Buffett-led Berkshire Hathaway Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>)(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) recently became one of a limited number of companies to pass the <a href="https://www.benzinga.com/top-stories/24/08/40604676/warren-buffetts-berkshire-hathaway-breaks-1-trillion-poll-points-to-big-pharma-not-tech-as-next-cont">$1 trillion market capitalization.</a>
The rising valuation of the conglomerate over the years has helped add to the wealth of the many investors who have trusted the vision of Buffett, including his sister Bertie Buffett Elliott.
Investing in Berkshire Hathaway: Elliott, who at 90 years old is the younger sister of<a href="https://www.benzinga.com/general/education/24/08/40652464/warren-buffett-celebrates-94th-birthday-with-1-trillion-market-cap-milestone-a-look-back-at-hig"> the legendary investor, </a>shared her story of investing in Berkshire Hathaway in a May 2024 interview.
Buffett credited his sister in a Berkshire Hathaway annual letter as being a smart investor and someone who reads newspapers every day. His sister realized that it was her older brother who was the smart investor and went all-in on believing in his investment strategy.
"I figured out that Warren was better at it than I was. That was easy," Elliott <a href="https://www.youtube.com/watch?v=wr07I1nLp-Y">recalled </a>in an interview with CNBC's Becky Quick.
While the move seemed simple in hindsight, Elliott revealed it took some adjusting, particularly when it came to Berkshire Hathaway's no-dividend policy.
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</ul>
"I was in a place in my life where I wanted some dividends," she explained. "Once I got over that hump and realized&#8230; I can decide when I declare a dividend&#8230; by selling some stock. And it's capital gains instead of regular income tax. And that's good."
This strategy allowed Elliott to customize her financial withdrawals while benefiting from the growing value of Berkshire Hathaway stock. Over time, she became confident in her decision to stay fully committed to her brother's company, despite occasional temptations from brokers and investment opportunities.
"Luckily, I didn't even have to think about it much," Elliott said. "I knew I was all in with Warren and still am all the way."
For Elliott, her relationship with her brother goes beyond business. Despite his global success, she still views him as "my big brother." While the world may see him as a financial titan, Elliott feels fortunate to have grown up with a sibling who has always looked out for her. "He's always been a wonderful big brother. And I love him. And I feel so lucky that he's my big brother."
This article was partially written using artificial intelligence and was reviewed by Benzinga editors.
Check This Out:
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</ul>
Photo: Shutterstock

Education

Success Stories

Warren Buffett's Sister Went 'All In' On Berkshire Hathaway – And Never Looked Back

Election forecaster and historian Allan Lichtman has made his final prediction on whether Donald Trump or Kamala Harris will win the <a href="https://www.benzinga.com/topic/2024-election">2024 presidential election.</a>
 What Happened: Several months ago, Lichtman <a href="https://www.benzinga.com/general/politics/24/07/40070258/trump-vs-harris-election-forecaster-with-9-out-of-10-accurate-predictions-gives-this-candidate-t">shared his preliminary findings </a>based on a 13-key system he created, but said the forecast would be updated after the Democratic National Convention.
Ahead of the<a href="https://www.benzinga.com/general/politics/24/09/40782598/harris-vs-trump-how-to-watch-2024-presidential-debate-rule-disputes-and-key-topics-for-voters"> first presidential debate</a> between Trump and Harris, set for Sept. 10, Lichtman has made his prediction for the 2024 election and shared his winner of each of the 13 keys, as <a href="https://www.nytimes.com/2024/09/05/opinion/allan-lichtman-trump-harris-prediction.html">shared </a>with the New York Times.
Here's a look at the "13 Keys to the White House" from Lichtman, which provide true and false answers and keys that favor one candidate over the other.
<ol>
<li>Midterm Gains: Democrats did better than expected in the 2022 election, but lost seats, making key false, good for Trump</li>
<li>Incumbent: Biden withdrew from race, costing Democrats the key, good for Trump</li>
<li>Primary Contest: Democrats united behind Harris after Biden withdrew, key is true, good for Harris</li>
<li>Third-Party Candidate: With Robert F. Kennedy Jr. suspending his campaign, the key is now true, good for Harris</li>
<li>Economy Is Strong: Lichtman said "the economy is not in a recession" and the key is true, good for Harris</li>
<li>Economic Growth: Lichtman said economic growth is far ahead of previous terms making the key true, good for Harris</li>
<li>Policy Changes: The historian names items like the Chips Act, rejoining the Paris Agreement and the Inflation Reduction Act as making the key true, good for Harris</li>
<li>Social Unrest: Lichtman said nothing massive has happened to make the key false, but it could flip with schools in session and controversy on Middle East policy, good for Harris</li>
<li>White House Scandal: Key is true as there is no bipartisan recognition of corruption that implicates the president himself, Lichtman said, can't be a family member like Hunter Biden, good for Harris</li>
<li>Incumbent Charismatic: Harris does not meet the requirements of a once-in-generation candidate, key is false, good for Trump</li>
<li>Challenger Charismatic: Lichtman said that while some people think Trump is God, he doesn't meet the once-in-a-generation candidate requirement, key is true, good for Harris</li>
<li>Foreign Policy Failure: Currently false, but could flip, not being counted</li>
<li>Foreign Policy Success: Currently false, but could flip, not being counted</li>
</ol>
The 13-key point system sees Harris win eight, Trump win three and two still undecided.
"Kamala Harris will be the next president of the United States," Lichtman said.
Lichtman said he is standing behind the prediction and even the two foreign policy or social unrest keys flipping will not be enough for Trump to win the election based on the keys method.
In the last prediction, Lichtman had Harris holding six of the 13 keys making it likely that she would win the election.
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</ul>
Why It's Important: Lichtman established the 13 keys system in 1981 and has used it to make a prediction on each presidential election since 1984.
Lichtman has&nbsp;<a href="https://www.usatoday.com/story/news/politics/elections/2024/05/08/allan-lichtman-2024-prediction-election-biden-trump/73611104007/" target="_blank" rel="noreferrer noopener">correctly&nbsp;</a>predicted the outcome of nine of the past 10 presidential elections. This includes correctly predicting Trump&#8217;s win in 2016 and Biden&#8217;s win in 2020.
Lichtman&#8217;s only miss was in 2000 when he predicted&nbsp;Al Gore&nbsp;would defeat&nbsp;George W. Bush. Gore won the popular vote in the election, but lost the electoral college.
The election predictor stated in 2016 that his book and paper referred to the popular vote, which would make his 2000 prediction correct, but the 2016 prediction of Donald Trump was wrong as&nbsp;Hillary Clinton&nbsp;won the popular vote. Whether the prediction is for the popular vote winner or electoral college winner, the success rate of 90% has stayed the same over the past 10 elections.
Lichtman was among the few to accurately predict Trump's victory in 2016 (earning him a Sharpie-scribbled note from the candidate lauding the "GOOD CALL!").
"The race was tight, but the keys were right," Lichtman said in his latest prediction video recalling the 2016 race.
Immediately after the first 2024 presidential debate, between Trump and Biden, Lichtman was also quick to&nbsp;<a href="https://www.nytimes.com/2024/07/03/opinion/biden-harris-trump-democrats.html?searchResultPosition=3">warn</a>&nbsp;that Biden dropping out of the race could be a "tragic mistake for Democrats," leading him directly into an&nbsp;<a href="https://x.com/AllanLichtman/status/1814755577396142256" target="_blank" rel="noreferrer noopener">online battle</a>&nbsp;with the forecaster Nate Silver. The confidence is rooted in Lichtman's simple, history-driven model, which tunes out polls and pollsters and instead focuses on 13 true-or-false questions that he says hold the "keys" to the White House.
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</ul>
Photo: Andrew Angelov via Shutterstock

Trump Vs. Harris: Election Forecaster With 9 Out Of 10 Accurate Predictions Makes Final Call, Says This Person Will Be 'Next President Of The United States'

The latest equity research report from Pablo Zuanic of Zuanic &amp; Associates highlights key trends in Canada's cannabis market, noting a deceleration in recreational sales growth.
Data from StatCan reveals that sales for 2Q24 were down 4% year-over-year (YoY), contributing to a 1.3% decline year-to-date (YTD) compared to 14% growth in 1H23. In contrast, Hifyre data shows a 6% YTD growth through August.
If annualized, this growth would project a total<a href="https://www.benzinga.com/topic/canada-cannabis"> recreational market</a> size of C$5.47 billion for calendar year 2024, translating to US$102 per capita.
Get Benzinga&#8217;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&#8217;re serious about the business, you can&#8217;t afford to miss out.
<h3 class="wp-block-heading">Market Share Shifts Among Top Players</h3>
<a href="https://www.benzinga.com/topic/pablo-zuanic">Zuanic&#8217;s report </a>highlights notable shifts in market share among the top licensed producers (LPs). Tilray (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLRY#NASDAQ">TLRY</a>), once a dominant player, saw its share drop by 1.5 percentage points to 9.6% in August, continuing its decline over recent quarters. Decibel (TSXV:<a class="ticker" href="https://www.benzinga.com/stock/DB#TSXV">DB</a>) also experienced a decline, dropping 0.9 percentage points to 5.2%.
Meanwhile, Village Farms (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VFF#NASDAQ">VFF</a>) experienced strong growth, increasing its market share to 7.9%, up from 6.1% a year ago, representing a 34% year-over-year growth. Similarly, Cronos (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRON#NASDAQ">CRON</a>) and Organigram (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OGI#NASDAQ">OGI</a>) posted gains, with Cronos maintaining a steady 5.3% share (up 24% YoY), and Organigram growing its market share to 7.2%, up from 6.6% a year ago, reflecting 15% (YoY) growth.
Additionally, Auxly (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CBWTF#OTC">CBWTF</a>) and Cannara Biotech (unlisted) gained 0.5 points each, reaching 5.2% and 3.4% market shares, respectively.
Here is a breakdown of the major players:
<ul>
<li>Village Farms: sales grew +34% YoY, holding a 7.9% market share in August (up from 6.1% a year ago).</li>
<li>Cronos: +24% YoY growth in sales, maintaining a 5.3% share, consistent with previous quarters.</li>
<li>Organigram: +15% YoY growth in sales, with a market share of 7.2% in August, up from 6.6% a year ago.</li>
<li>Tilray: -20% YoY decline in sales, with a 9.6% market share in August, down from 10.1% earlier in the quarter.</li>
<li>Decibel: -25% YoY decline in sales, holding a 5.3% market share, down from 7.4% a year ago.</li>
</ul>
<h3 class="wp-block-heading">Format Preferences Continue To Evolve</h3>
The Canadian cannabis market is shifting towards newer product formats, with some segments outperforming others. Flower remains the largest category, accounting for 36% of sales in June-August 2024, down from 41% in 1Q23 and 57% in 1Q21. This decline reflects changing consumer preferences, as <a href="https://www.benzinga.com/markets/cannabis/24/06/39508155/900-pre-rolls-per-hour-upgrade-from-manual-to-automatic-speeds-up-joint-production-enhances-marg">pre-rolls</a> and vapes gain market share.
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/23/09/34625368/nasa-precision-meets-cannabis-roi-pre-rolled-infusion-robots-revolutionizing-indust">Pre-rolls</a> now represent 34% of total sales, up from 27% in 1Q23 and 17% in 1Q21. The segment grew 11% year-over-year (YoY) in the June-August period, driven by consumer demand for convenience. Decibel leads with a 10.4% share, though it fell to 9.7% in August. Tilray holds 8.3%, and Organigram has 6.4%.
<a href="https://www.benzinga.com/general/biotech/24/08/40341814/tony-starks-choice-vape-synergy-innovations-strategic-move-to-restore-brands-identity-lead-market">Vapes </a>account for 16% of sales, up from 15% in 1Q22 and 14% in 1Q21, supported by 8% yoy growth. Motif Labs leads with 20.6%, followed by Auxly (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CBWTF#OTC">CBWTF</a>) at 12.4%, up from 10.7% in 2Q24.
Other formats, like concentrates, edibles, beverages, and oils, hold smaller shares. Concentrates and edibles each represent 5%, while <a href="https://www.benzinga.com/topic/cannabis-beverages">beverages </a>and oils account for 2% each. Concentrates grew 5% YoY, while edibles declined by 5%. Beverages saw a 6% YoY increase, indicating gradual consumer adoption.
Read Next: S<a href="https://www.benzinga.com/markets/cannabis/24/08/40631613/sndl-wins-bid-for-indiva-secures-major-deal-to-boost-cannabis-edibles-market-share-in-canada">NDL Wins Bid For Indiva, Secures Major Deal To Boost Cannabis Edibles Market Share In Canada</a>

Analyst Color

Cannabis

Market Summary

Retail Sales

Analyst Ratings

Trading Ideas

CANNABIS WHEATON INCOME by Cannabis Wheaton Income Corp.

CBWTF

CRON

TLRY

TSXV:DB

Cannabis Flower? No, Thanks: Canadians Shift To Pre-Rolls & Vapes As Market Eyes C$5.47B

Cantourage Group SE reported its financial results for the period from January 1 to August 30, 2024, revealing revenue of EUR 24.9 million ($27.5 million). This marks a 62% increase compared to the same period in 2023, when the company had EUR 15.4 million in revenue. Moreover, revenue for the first seven months of 2024 is higher than Cantourage's total revenue for the full year 2023, which amounted to EUR 23.6 million.
&#8220;Our current business performance clearly shows that we took the right steps in preparation for the partial legalization of cannabis in Germany," <a href="https://www.cantourage.com/en/blog-posts/cantourage-group-se-verzeichnet-im-zeitraum-januar-bis-august-2024-hohere-umsatzerlose-als-im-gesamtjahr-2023">stated</a> Cantourage&#8217;s CEO Philip Schetter, according to translation. "In addition to expanding our range of high-quality cannabis products from around the world, we were able to scale our production capacities and strengthen our partnerships with growers and pharmacies just in time. This now enables us to sustainably meet the expected increase in demand. We are confident that the medical cannabis market offers significant opportunities, both now and in the future.&#8221;
According to the report, the major drivers for the revenue growth include the continued expansion of its cannabis flower business in Germany and the UK, and also the advancement of its Telecan platform, which provides an online pathway for German medical marijuana patients to access cannabis treatments. The <a href="https://www.benzinga.com/markets/cannabis/24/04/38023610/heres-what-you-need-to-know-about-weed-legalization-in-germany-that-just-took-effect">partial legalization of cannabis in Germany</a> in April 2024 also contributed to this upward trend.
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/08/40520655/25-german-cities-join-cannabis-pilot-trials-in-2024-under-new-legalization-law">25 German Cities Join Cannabis Pilot Trials In 2024 Under New Legalization Law</a>
In August 2024 alone, Cantourage achieved a record monthly revenue of EUR 4.9 million, a 188% increase compared to August 2023 (EUR 1.7 million). This surpasses the company's previous monthly record of EUR 4.1 million set in June 2024.
The Berlin-based cannabis company is projecting total annual revenue of EUR 37 million to EUR 43 million for 2024, with expectations of continued growth and a positive EBITDA for the year. The company was listed on the Frankfurt Stock Exchange in November 2022 <a href="https://www.benzinga.com/markets/cannabis/22/11/29686601/germanys-first-cannabis-start-up-lists-on-frankfurt-stock-exchange-ahead-of-legalization">under the symbol &#8220;HIGH.&#8221;</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>
"The news agency Reuters reported a few months ago that there are currently around 4.5 million cannabis consumers in Germany alone. However, the market potential is enormous not only with regard to Germany—we are also currently seeing a continuous opening of cannabis markets in other European countries,&#8221; Schetter continued. &#8220;For Cantourage, this will—of that we are certain—offer extraordinary growth opportunities in the future. Our flexible business model is predestined to leverage the large market potential in Europe and generate further strong growth for our company. We continue to expect that we will achieve a positive EBITDA for the full year 2024.&#8221;
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/cannabis/24/08/40656581/cbd-of-denver-q2-revenue-jumps-37-4-yoy-amid-german-market-expansion-plans">CBD Of Denver Q2 Revenue Jumps 37.4% YoY Amid German Market Expansion Plans</a></li>
</ul>
Photo: Courtesy of&nbsp;HTWE&nbsp;via Shutterstock&nbsp;

Earnings

Eurozone

European Cannabis Producer Cantourage Reports 62% Revenue Increase, Projects Positive EBITDA

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.
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</ul>
Photo: Robert V. Schwemmer via Shutterstock

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:
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<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

Government

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

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.
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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:
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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>
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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>

TSX:ACB

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

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