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WM Technology Inc is a technology and software infrastructure provider to the cannabis industry. It comprises B2C platform Weedmaps, and B2B software WM Business. Its revenues are derived primarily from monthly subscriptions to Weedmaps for Business, featured and deal listings and other WM Ad solutions. The Weedmaps for Business subscriptions generally have one-month terms that automatically renew unless notice of cancellation is provided in advance. Featured and deal listings and other WM Ad solutions are offered as add-on products to the Weedmaps for Business subscriptions. Featured and deal listings provide customers with premium placement ad solutions and discount and promotion pricing tools. Other WM Ad solutions include banner ads and promotion tiles on our marketplace ads.

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Leading cryptocurrencies edged higher Thursday as risk-taking investors continued to cheer the Federal Reserve&#8217;s bold half-point interest rate cut.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 9:45 p.m. EDT)</td>
</tr>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>+1.73%</td>
<td>$62,980.73</td>
</tr>
<tr>
<td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>+2.45%</td>
<td>$2,452.33</td>
</tr>
<tr>
<td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>+0.16%</td>
<td>$0.1042</td>
</tr>
</tbody>
</table>
</figure>
What Happened: Bitcoin surged above $63,800 in the afternoon, clocking its highest value in nearly four weeks. The leading cryptocurrency descended below $63,000 overnight as some investors locked in gains.
The Fed announced a 50 basis point cut in interest rates earlier this week, bringing the federal funds rate down to a <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40924506/savvy-trader-ensures-500-000-profit-if-the-federal-reserve-cuts-25-or-50-basis-points">range of 4.75% to 5%</a>. Since this move, Bitcoin has leaped nearly 6%.
The second-largest cryptocurrency, Ethereum almost touched $2,500, before retreating to the mid- $2,400 region.
The total cryptocurrency liquidations soared past $124 million in the past 24 hours, with $77 million in downside bets getting wiped out.&nbsp;
Bitcoin's funding rate was positive on most major cryptocurrency exchanges like Binance and Bybit, indicating the dominance of long-position traders.
The market sentiment was "neutral," according to the popular Cryptocurrency Fear and Greed Index.
Top Gainers (24-Hours)
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 9:45 p.m. EDT)</td>
</tr>
<tr>
<td>Bittensor (TAO)</td>
<td>+11.87%</td>
<td>$378.80</td>
</tr>
<tr>
<td>Core (CORE)</td>
<td>+11.51%</td>
<td>$1.07</td>
</tr>
<tr>
<td>Immutable (IMX)</td>
<td>+9.06%</td>
<td>$1.50</td>
</tr>
</tbody>
</table>
</figure>
The global cryptocurrency market stood at $2.17 trillion, following an increase of 1.80% in the last 24 hours.
Stocks closed at new highs Thursday. The Dow Jones Industrial Average rose 522.09 points, or 1.26%, to finish at 42,025.19, marking the 30-stock index's first close above 42,000. The S&amp;P 500 lifted 1.70% to end at 5,713.64, while the tech-focused Nasdaq Composite surged 2.51% to close at 18,013.98.
Inventors weighed in the weekly jobless claims numbers that <a href="https://www.benzinga.com/markets/equities/24/09/40939571/nasdaq-surges-400-points-us-jobless-claims-fall-to-219-000">fell by 12,000 from the prior week</a> to 219,000 in the week ending Sept. 14, well below the estimates.
See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>
Analyst Notes: Widely-followed cryptocurrency analyst and trader Ali Martinez observed Bitcoin's RSI breaking out of a key resistance trendline, prompting him to issue a bullish forecast.
"However, BTC still needs to reclaim the 200-day moving average as support to confirm the continuation of the bull run," the analyst added the caveat.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">On the <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> daily chart, the RSI has broken through a key resistance trendline, signaling a bullish breakout! However, <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> still needs to reclaim the 200-day moving average as support to confirm the continuation of the bull run. <a href="https://t.co/d6n6j6jH0l">pic.twitter.com/d6n6j6jH0l</a>
&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1836908378884559104?ref_src=twsrc%5Etfw">September 19, 2024</a></blockquote>
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Prominent analyst Michaël van de Poppe raised Ethereum's upside potential after the rate cut, predicting higher inflows into ETFs and more interest in yield.
"The likelihood of more rate cuts will be substantial, through which $ETH and DeFi become way more attractive," he remarked.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Rate cuts have happened! The likelihood of more rate cuts will be substantial, through which <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> and DeFi become way more attractive. I think this would mean a higher inflow in the ETF + more interest in Yield, through which ETH/BTC should be running upwards. Let&#39;s see. <a href="https://t.co/n5Ic6e3Yiu">pic.twitter.com/n5Ic6e3Yiu</a>
&mdash; Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1836827596618694735?ref_src=twsrc%5Etfw">September 19, 2024</a></blockquote>
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Photo by SvetlanaParnikova on Shutterstock
Read Next:    
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40945847/donald-trump-now-trails-kamala-harris-by-4-points-after-9-point-election-odds-turnaround-i">Donald Trump Now Trails Kamala Harris By 4 Points After 9-Point Election Odds Turnaround In Only 9 Days</a></li>
</ul>

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

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Bitcoin, Ethereum, Dogecoin Move Higher As Aggressive Rate Cut By Fed Fuels Crypto Demand: Top Trader's Bullish Forecast For King Crypto Hinges On This Condition

U.S. Democratic presidential candidate Kamala Harris has expressed her support for both the Second Amendment and assault weapon bans.
What Happened: On Thursday, in a conversation with Oprah Winfrey during a live-streamed &#8220;Unite for America&#8221; event in Michigan, Harris discussed various topics, including gun violence.
She criticized the false dichotomy often presented in the gun control debate. She stated that the issue of gun violence has been framed as a false choice, suggesting that individuals are either in favor of the Second Amendment or want to take everyone&#8217;s guns away.
&#8220;I am in favor of the Second Amendment, and I am in favor of assault weapons bans, universal background checks, Red Flag laws,&#8221; Harris said.
See Also: <a href="https://www.benzinga.com/general/politics/24/09/40907893/kamala-harris-wins-second-endorsement-in-179-years-from-magazine-that-featured-works-from-nikola?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Kamala Harris Wins Second Endorsement In 179 Years From Magazine That Featured Works From Nikola Tesla, Albert Einstein</a>
When Winfrey brought up the fact that Harris is a gun owner, she responded with a joke, &#8220;If somebody breaks in my house they getting shot.&#8221; 
She quickly followed up with an apology amid a laugh, stating she &#8220;probably shouldn&#8217;t have said that,&#8221; and her staff will have to deal with it later.
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<iframe loading="lazy" title="Harris, Oprah Winfrey host a virtual campaign event in Detroit" width="500" height="281" src="https://www.youtube.com/embed/ko25WD7v0po?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div>
</figure>
Why It Matters: Harris&#8217;s comments come at a time when gun violence is a pressing issue in the U.S. 
There have been at least 49 school shootings in the U.S. as of Sept. 13, <a href="https://edition.cnn.com/us/school-shootings-fast-facts-dg/index.html#:~:text=As%20of%20September%206%20%E2%80%93%20the,250th%20day%20of%20each%20year.">according</a> to CNN. The incidents left 24 people dead and at least 65 other victims injured.
The Washington Post reports that over the past 25 years, since 1999, there have been 417 school shootings in the U.S., affecting more than 383,000 students who have experienced gun violence on school grounds.
The AR-15, dubbed &#8220;America&#8217;s Rifle&#8221; by the National Rifle Association or NRA, is one of the <a href="https://www.benzinga.com/news/24/07/39780789/the-ar-15-rifle-used-to-shoot-trump-is-a-symbol-of-american-gun-rights-which-he-vowed-to-protect">most commonly owned firearms</a> for U.S. civilians. It has also become emblematic in the debate over gun laws.
The NRA did not immediately respond to <a href="https://pro.benzinga.com/dashboard">Benzinga&#8217;s</a> request for comments on Harris&#8217;s statement.
The weapon was used to shoot Donald Trump at a rally on July 13. It has also been used in 10 of the 17 most deadly mass shootings since 2012.
Earlier this year, U.S. Surgeon General Vivek H. Murthy declared <a href="https://www.benzinga.com/government/24/06/39484065/us-surgeon-general-calls-gun-violence-a-public-health-issue">gun violence a public health crisis</a> in a 39-page advisory. He highlighted the significant physical and mental toll of gun violence on communities nationwide.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/24/09/40913930/kamala-harris-moves-from-13-point-deficit-to-7-point-lead-over-trump-in-survey-of-fund-managers-stra?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Kamala Harris Moves From 13-Point Deficit To 7-Point Lead Over Trump In Survey Of Fund Managers, Strategists And Economists: Here&#8217;s Why Most Favor A Divided Government</a></li>
</ul>
Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.

Politics

Kamala Harris Underlines Her Support For Second Amendment, Dismisses False Dichotomy Of Gun Control Debate: Jokes To Oprah: 'If Somebody Breaks In My House They Getting Shot'

In the face of a $35 trillion federal debt crisis, global asset manager BlackRock Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLK#NYSE">BLK</a>) strategically advocated for Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) as a safeguard, potentially raising the upside potential of the world&#8217;s largest cryptocurrency.
What Happened: BlackRock noted concerns about the spiraling $35 trillion U.S. fiscal deficit, attributing it as a significant driver of growing institutional interest in Bitcoin, according to a paper authored by some of the top executives from the asset management giant, including BlackRock&#8217;s ETF Chief Investment Officer Samara Cohen and Head Of Digital Assets Robert Mitchnick.
&#8220;The growing concerns in the U.S. and abroad over the state of U.S. federal deficits and debt have increased the appeal of potential alternative reserve assets as a potential hedge against possible future events affecting the U.S. dollar,&#8221; the paper outlined. &#8220;In our experience with clients to date, this explains a substantial portion of the recent broadening institutional interest in Bitcoin.&#8221;
BlackRock, which manages around $10 trillion in assets, also described Bitcoin as a &#8220;unique diversifier&#8221; to hedge against fiscal, monetary, and geopolitical risks.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40945847/donald-trump-now-trails-kamala-harris-by-4-points-after-9-point-election-odds-turnaround-i?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Donald Trump Now Trails Kamala Harris By 4 Points After 9-Point Election Odds Turnaround In Only 9 Days</a>
Why It Matters: BlackRock&#8217;s bullish observations followed former U.S. President Donald Trump&#8217;s vision to use Bitcoin to offset the U.S.&#8217;s $35 trillion debt, a step that was <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40152445/trumps-bold-plan-to-use-bitcoin-to-wipe-out-35t-us-debt-questioned-by-economist-justin-wol">heavily criticized</a> by influential economists like Justin Wolfers and Paul Krugman.
Recall that Sen.&nbsp;Cynthia Lummis&nbsp;(R-Wyo.) <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/40087880/cynthia-lummis-unveils-strategic-bitcoin-reserve-legislation-this-is-our-louisiana-purchas">proposed a landmark legislation</a> in July to establish a strategic Bitcoin reserve, aimed at enhancing the dollar&#8217;s strength and addressing the country&#8217;s $35 trillion debt. The bill hinges on the expectations that a million Bitcoin 20 years from now would be worth $17 trillion.
BlackRock CEO Larry Fink is <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40937953/larry-fink-defies-blackrocks-largest-shareholder-to-make-a-bold-bet-on-bitcoin-heres-how-h">known for his Bitcoin advocacy</a>, calling the digital currency a hedge against inflation given rising global tensions and threats of de-dollarization.
The firm&#8217;s successful campaign to launch a fully-fledged U.S. spot Bitcoin exchange-traded fund, iShares Bitcoin Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBIT#NASDAQ">IBIT</a>), has been a major driving force of the Bitcoin price in 2024.
Price Action: At the time of writing, Bitcoin was exchanging hands at $62,788.62, up 1.54% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>.&nbsp;Shares of BlackRock closed 1.29% higher at $934.61 during Thursday&#8217;s regular trading session.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40945629/bitcoin-could-surge-after-interest-rate-cut-as-macro-drivers-take-over-standard-chartered">Bitcoin Could Surge After Interest Rate Cut As Macro Drivers Take Over: Standard Chartered</a></li>
</ul>

IBIT

Bitcoin's Reserve Asset Appeal Increased Due To State Of US Federal Deficit And Debt, Says BlackRock: A Hedge Against 'Possible Future Events' Affecting The Dollar

In an opinion piece in the New York Times titled &#8220;Inflation Is Ebbing. Now the Fed Must Protect Jobs,&#8221; the inventor of Sahm&#8217;s Rule Claudia Sahm said the 0.5 percentage point <a href="https://www.benzinga.com/economics/macro-economic-events/24/09/40926026/federal-reserve-delivers-bold-0-5-rate-cut-signals-further-easing-ahead">cut in policy interest rate</a> by the Federal Reserve signifies a change in the central bank&#8217;s strategy towards managing inflation and employment.
What Happened: The rate cut brings the federal funds rate to a target range of 4.75 percent to 5 percent, inching closer to pre-pandemic levels. The Fed&#8217;s decision indicates a shift from its focus on inflation, which has been on a downward trend for the past two years, to strengthening employment, <a href="https://www.nytimes.com/2024/09/19/opinion/federal-reserve-rate-cut-unemployment.html">wrote</a> Sahm in the Times.
Despite the rate cut, the funds rate remains high enough to deter some borrowing and spending, suggesting the Fed&#8217;s continued caution against inflation. However, the larger cut also reflects the Fed&#8217;s concern over recent indications of a labor market slowdown.
&#8220;Unlike many other central banks, however, the Fed has a mandate for maximum employment along with price stability, and the decision for a larger cut also signals that it is taking seriously recent signs of slowing in the labor market,&#8221; said Sahm, a former economist at the Federal Reserve Board of Governors.
Sahm noted that the decision was met with dissent, with Fed governor Michelle Bowman advocating for a smaller cut. Sahm said that the recent unemployment rate increase aligns with early recession trends, but the U.S. isn&#8217;t in or nearing a recession, with GDP growth on track. The Fed's half-point rate cut, termed a "recalibration" by Chair Jerome Powell, aims to reduce risks, though it has raised concerns about a potential economic crisis.
Additional rate cuts are anticipated as inflation continues to fall. Most Fed officials predict a further reduction of at least 1.5 percentage points in the funds rate by the end of 2025, assuming only a minor increase in unemployment, according to Sahm.
See Also: <a href="https://www.benzinga.com/news/24/09/40933169/mark-cuban-teams-up-with-kamala-harris-to-protect-american-businesses-from-unfair-foreign-competitio?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mark Cuban Teams Up With Kamala Harris To Protect American Businesses From &#8216;Unfair Foreign Competition&#8217; From Chinese Clone Products: &#8216;Knockoffs Are A Plague On Small Businesses&#8217;</a>
Why It Matters: This bold move by the Federal Reserve breaks a four-year streak of steady rates, surprising Wall Street analysts who had predicted a more modest 0.25 point cut. The larger reduction aligns with investor sentiment favoring a more aggressive easing approach at the start of the rate-cut cycle.
Earlier, Sahm had refuted claims of a U.S. recession despite market instability. She insisted that traditional indicators might not <a href="https://www.benzinga.com/news/24/08/40177780/i-do-not-think-the-us-economy-is-in-recession-sahm-rule-creator-refutes-claims-amid-market-turmoil">accurately reflect</a> the current unusual economic cycle. Sahm later <a href="https://www.benzinga.com/news/24/08/40389835/claudia-sahm-stands-by-sahm-rule-amid-criticism-from-jerome-powell-and-others-on-its-economic-signif">defended the relevance</a> of her economic indicator amid criticism.
Photo via Shutterstock.
Read Next:
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<li> <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40891378/ahead-of-fomc-meeting-paul-krugman-says-fed-rates-will-be-elevated-even-with-50-bps?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Ahead Of FOMC Meeting Paul Krugman Says Fed Rates Will Be Elevated Even With 50 Bps Cut: &#8216;Argument For Incrementalism Is Very Weak&#8217;</a></li>
</ul>
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>

Economics

Claudia Sahm Underscores Fed's Mandate to Protect Jobs, Says Additional Cuts Expected: 'The Time To Support The Labor Market Is When It's Strong'

Ahead of the 2024 presidential election, Vice President Kamala Harris is making strategic moves to win over voters through a <a href="https://www.benzinga.com/news/24/09/40937579/kamala-harris-and-oprah-winfrey-to-host-virtual-event-to-sway-support-from-key-battleground-states-o">high-profile virtual event</a> with former talk show host Oprah Winfrey.
What Happened: The event, titled "Unite for America," is hosted by Winfrey from suburban Michigan, a crucial battleground state in the upcoming election. 
The livestream features celebrities like Bryan Cranston, Jennifer Lopez, and Meryl Streep, alongside stories from ordinary voters to amplify Harris&#8217;s message.
More than 295,000 viewers tuned in on YouTube alone, with the event also being streamed on other major social media platforms. 
Winfrey introduced Harris, who spoke about her sudden rise to the Democratic nominee after President Joe Biden&#8216;s unexpected exit in July. 
"I felt a sense of responsibility, to be honest with you, and with that comes a sense of purpose," Harris said. 
During the event, Harris discussed her plans to reduce housing costs and cut middle-class taxes, answering questions from voters in Michigan and Virginia. Harris has been focusing on digital engagement and controlled interactions, aiming to connect with voters who primarily consume news online.
See Also: <a href="https://www.benzinga.com/news/24/09/40931458/obama-era-economist-says-she-is-pleasantly-surprised-that-jd-vance-thinks-the-economy-is-too-strong?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Obama-Era Economist Says She Is &#8216;Pleasantly Surprised&#8217; That JD Vance Thinks The &#8216;Economy Is Too Strong For The Rate Cut&#8217;</a>
Why It Matters: The virtual event comes at a critical time for Harris, who has been gaining ground in recent polls. A <a href="https://www.benzinga.com/general/politics/24/09/40949853/harris-in-trouble-new-swing-state-poll-shows-trump-gains-ground-in-key-battleground-areas-for-20">recent poll</a> shows Harris trending up in the 2024 election polls of nationally registered voters, posting her largest lead in the weekly Morning Consult poll this week in the head-to-head matchup against former President Donald Trump.
However, the race remains tight, with high-profile endorsements playing a crucial role. Harris recently received her second endorsement in 179 years from the <a href="https://www.benzinga.com/general/politics/24/09/40907893/kamala-harris-wins-second-endorsement-in-179-years-from-magazine-that-featured-works-from-nikola">oldest continuously published magazine in the U.S.</a>, which has featured works from luminaries like Nikola Tesla and Albert Einstein.
Additionally, Harris has been actively <a href="https://www.benzinga.com/news/24/09/40933169/mark-cuban-teams-up-with-kamala-harris-to-protect-american-businesses-from-unfair-foreign-competitio">collaborating with influential figures</a> like billionaire entrepreneur Mark Cuban. Cuban recently teamed up with Harris to protect American businesses from unfair foreign competition, particularly from Chinese knockoffs. 
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/24/09/40913930/kamala-harris-moves-from-13-point-deficit-to-7-point-lead-over-trump-in-survey-of-fund-managers-stra?itm_source=parsely-api">Kamala Harris Moves From 13-Point Deficit To 7-Point Lead Over Trump In Survey Of Fund Managers, Strategists And Economists: Here&#8217;s Why Most Favor A Divided Government</a></li>
</ul>
Image via Wikimedia Commons
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>

Social Media

Kamala Harris Tells Oprah Winfrey She Felt A 'Sense Of Responsibility' After Biden's Sudden Exit: It Came With A 'Sense of Purpose'

Noted data scientist, Thomas Miller of Northwestern University, recognized for his precise election forecasts, has made a prediction for the forthcoming Trump vs. Harris presidential election.
What Happened: Miller, who accurately foresaw the results of the 2020 presidential and Georgia senatorial races, has come forward with a new prediction for the 2024 presidential election, <a href="https://fortune.com/2024/09/18/trump-vs-harris-election-odds-who-will-win/">reported</a> Fortune.
Miller&#8217;s approach, which utilizes data from political betting sites rather than conventional polls, has shown high accuracy in the past. &#8220;Political betting sites are the best at predicting the wisdom of the crowd,&#8221; Miller stated to Fortune. He contends that while polls mirror past sentiments, betting odds can offer a more precise prediction of future outcomes.
For the 2024 presidential race, Miller is again employing PredictIt, a U.S. political betting site, for his forecasts. He observes that the site has a steady group of investors and provides current data, making it a dependable source for his analysis.
According to Miller&#8217;s model, Harris is presently leading Trump. He ascribes this shift to several factors, including the recent Trump-Harris debate and a crucial endorsement for Harris. If the current trend persists, Miller anticipates a substantial victory for Harris in the upcoming election.
&#8220;It's gone from a drastic landslide in Trump's direction to a drastic landslide for Harris,&#8221; said Miller. He said it would now take an equally dramatic shift in Trump&#8217;s favor for the ex-president to come back into contention. Miller said as things stood now it appeared as if Harris would win big on November 5.
Miller&#8217;s predictions have been remarkably precise in the past, making his forecast a significant point of interest as the election nears. His unique approach to election forecasting offers a new viewpoint on the potential outcome of the Trump vs. Harris race.
Miller&#8217;s analysis suggests that as of September 10, millions of Trump supporters likely shifted, triggering a ripple effect that could eventually benefit Harris, though few see it yet. 
See Also: <a href="https://www.benzinga.com/general/politics/24/09/40910999/trump-in-trouble-vice-president-harris-has-record-6-point-lead-in-2024-election-poll-after-debat?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump In Trouble: Vice President Harris Has Record 6-Point Lead In 2024 Election Poll After Debate, Posts Highest Rankings In Key Demographics</a>
Why It Matters: A recent poll taken after the September 10 presidential debate from the Trafalgar Group <a href="https://www.benzinga.com/news/24/09/40869086/trump-vs-harris-new-poll-reveals-post-debate-swing-towards-this-candidate-in-key-state">showed Trump overtaking Harris</a> in North Carolina, with 48.4% to her 46%. Despite an underwhelming debate performance, Trump gained a 2% shift from Harris&#8217; supporters, narrowing the previously slim lead she held in earlier polls.
The trends reported by Benzinga showed Harris <a href="https://www.benzinga.com/general/politics/24/09/40949853/harris-in-trouble-new-swing-state-poll-shows-trump-gains-ground-in-key-battleground-areas-for-20">gaining ground</a> in key battleground areas. Furthermore, Harris posted a record 6-point lead in a <a href="https://www.benzinga.com/general/politics/24/09/40910999/trump-in-trouble-vice-president-harris-has-record-6-point-lead-in-2024-election-poll-after-debat">national poll</a> after the debate, indicating a strong momentum in her favor after the event.
Image via Shutterstock
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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

Data Scientist Who Called 2020 Election Correctly Says Its Gone From 'Drastic Landslide In Trump's Direction To A drastic landslide For Harris'

Elon Musk, the CEO of Tesla and SpaceX, has come under the scrutiny of the Secret Service due to a <a href="https://www.benzinga.com/news/24/09/40870646/elon-musk-comments-on-why-they-want-to-kill-trump-desantis-promises-floridas-own-probe">contentious social media post</a> involving President Joe Biden and Vice President Kamala Harris.
What Happened: The Secret Service is investigating a post by Musk in which he questioned why there were no assassination attempts on Biden or Harris. The agency refrained from revealing any details about the investigation, citing it as an &#8220;enforcement proceeding,&#8221; <a href="http:// 
<h2&gt;Elon Musk's Controversial Post Sparks Secret Service Investigation</h2&gt; <p&gt;In a recent development, <b&gt;Elon Musk</b&gt;, the CEO of <b&gt;Tesla Inc.</b&gt; (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</h2&gt;elon></a>), has come under the scrutiny of the Secret Service due to a contentious social media post involving President Joe Biden and Vice President Kamala Harris.
<p&gt;<b&gt;What Happened</b&gt;: According to a <a href=&quot;https://www.businessinsider.com/secret-service-elon-musk-investigation-tweet-biden-kamala-assassination-2024-9&quot;&gt;Business Insider</a&gt; report on Sunday, the Secret Service is investigating a post by Musk in which he questioned why there were no assassination attempts on Biden or Harris. The agency refrained from revealing any details about the investigation, citing it as an &quot;enforcement proceeding.&quot;</p&gt; <p&gt;Musk's controversial post was in response to a user who asked why there were attempts on the life of former President Donald Trump. Musk later took down his post, attributing it to a misunderstood sense of humor.</p&gt; <p&gt;<i&gt;See Also: <a href=&quot;https://www.benzinga.com/news/24/09/40911991/hillary-clinton-compares-melania-trump-to-the-little-kid-at-a-birthday-party-who-doesnt-know-anyone?itm_source=parsely-api&quot; target=&quot;_blank&quot;&gt;Hillary Clinton Compares Melania Trump To 'The Little Kid At A Birthday Party Who Doesn't Know Anyone' In</a&gt;</i&gt;</p&gt;<p&gt;Spokesperson for the Secret Service, Melissa McKenzie, stated, <span style=&quot;color:#FF0000&quot;&gt;&quot;The Secret Service is aware</span&gt; <span style=&quot;color:#FF0000&quot;&gt;of the social media post</span&gt; <span style=&quot;color:#FF0000&quot;&gt;made by Elon Musk and</span&gt; <span style=&quot;color:#FF0000&quot;&gt;as a matter of practice,</span&gt; <span style=&quot;color:#FF0000&quot;&gt;we do not comment on</span&gt; matters involving protective intelligence.&quot; She further added that the agency <span style=&quot;color:#FF0000&quot;&gt;investigates all threats related to</span&gt; their protectees.</p&gt; <p&gt;It is important to note that Musk, who is a known supporter of Trump, has previously highlighted the former president's survival of an assassination attempt. Musk endorsed Trump following a near-miss shooting incident in July.</p&gt; <p&gt;The White House has denounced Musk's post, describing it as irresponsible rhetoric that should never be encouraged or joked about.</p&gt; <p&gt;<b&gt;Why It Matters</b&gt;: This controversy comes in the wake of a second assassination attempt on Donald Trump, as reported by <a href=&quot;https://www.benzinga.com/news/24/09/40870646/elon-musk-comments-on-why-they-want-to-kill-trump-desantis-promises-floridas-own-probe&quot;&gt;Benzinga</a&gt;. Musk's contentious post was made shortly after this incident, sparking a wave of backlash and criticism, including from the White House, as per <a href=&quot;https://www.benzinga.com/news/24/09/40890277/elon-musk-says-his-now-deleted-controversial-post-after-latest-trump-assassination-which-was-labeled&quot;&gt;Benzinga</a&gt;. The Tesla CEO later removed the post, claiming it was a joke that was misunderstood due to lack of context. The Secret Service's investigation into Musk's post underscores the seriousness of such comments, even when made in jest.</p&gt;<p&gt;<i&gt;Read Next: <a href=&quot;https://www.benzinga.com/news/24/09/40931458/obama-era-economist-says-she-is-pleasantly-surprised-that-jd-vance-thinks-the-economy-is-too-strong?itm_source=parsely-api&quot; target=&quot;_blank&quot;&gt;Obama-Era Economist Says She Is 'Pleasantly Surprised' That JD Vance Thinks The 'Economy Is Too Strong Fo</a&gt;</i&gt;</p&gt;">reported Business Insider.</p&gt;<b&gt;what>
Musk&#8217;s controversial post was in response to a user who asked why there were attempts on the life of former President Donald Trump. Musk later took down his post, attributing it to a misunderstood sense of humor.
A Spokesperson for the Secret Service, Melissa McKenzie, stated, &#8220;The Secret Service is aware of the social media post made by Elon Musk and as a matter of practice, we do not comment on matters involving protective intelligence.&#8221; She further added that the agency investigates all threats related to their protectees.
It is important to note that Musk, who is a known supporter of Trump, has previously highlighted the former president&#8217;s survival of an assassination attempt. Musk endorsed Trump following a near-miss shooting incident in July.
The White House has denounced Musk&#8217;s post, describing it as irresponsible rhetoric that should never be encouraged or joked about.
See Also: <a href="https://www.benzinga.com/news/24/09/40911991/hillary-clinton-compares-melania-trump-to-the-little-kid-at-a-birthday-party-who-doesnt-know-anyone?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Hillary Clinton Compares Melania Trump To &#8216;The Little Kid At A Birthday Party Who Doesn&#8217;t Know Anyone&#8217; In Her Latest Book</a>
Why It Matters: This controversy comes in the wake of a <a href="https://www.benzinga.com/24/09/40869836/donald-trump-safe-and-unharmed-after-shooting-incident-at-florida-golf-club">second assassination attempt</a> on Trump. Musk&#8217;s contentious post was made shortly after this incident, sparking a wave of backlash and criticism, including from the White House, as per Benzinga. 
The Tesla CEO later <a href="https://www.benzinga.com/news/24/09/40890277/elon-musk-says-his-now-deleted-controversial-post-after-latest-trump-assassination-which-was-labeled">removed the post</a>, claiming it was a joke that was misunderstood due to lack of context. He wrote on X, &#8220;Turns out that jokes are WAY less funny if people don&#8217;t know the context and the delivery is plain text."
In a separate post, Musk said that he had learned the lesson that &#8220;just because I say something to a group and they laugh doesn&#8217;t mean it&#8217;s going to be all that hilarious as a post on X.&#8221;
Did You Know?
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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>
<a href="https://twitter.com/elonmusk/status/1835574495467159607" target="_blank" rel="noreferrer noopener"></a>

TSLA

'The Secret Service Is Aware Of The Social Media Post Made By Elon Musk,' Says Law Enforcement Agency

WHLRD

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

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WHLR

Millions of Americans face tougher times managing their bills as inflation bites. According to the U.S. Census Bureau, about 40% of consumers say it&#8217;s getting &#8220;somewhat&#8221; to &#8220;very difficult&#8221; to cover their monthly expenses.&nbsp;
This struggle is set to deepen with the return of student loan payments, which paused for years during the pandemic. Add to that the cost of summer child care and vacations and it's no wonder many are feeling the heat. But there's one payment you can't afford to put on the back burner: your student loans.
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Financial expert <a href="https://www.benzinga.com/personal-finance/24/08/40304035/suze-orman-says-ignoring-this-will-ruin-your-investment-future-heres-what-you-must-do-now-to-sec">Suze Orman</a>, host of the popular &#8220;Women &amp; Money&#8221; podcast, warns that skipping student loan payments is not an option. "It should be a priority," she said.
Pushing student loans aside with everything else on your plate might be tempting, but ignoring them could land you in hot water. The restart of these payments in fall 2023 has forced many people to figure out how to squeeze them back into already-tight budgets. However, Orman stresses that this is one bill you can't sweep under the rug.
Trending: Founder of Personal Capital and ex-CEO of PayPal<a href="https://www.benzinga.com/money/evergreen-money"> re-engineers traditional banking with this new high-yield account — start saving better today.</a>
Orman offers practical advice for those overwhelmed: &#8220;Make a plan or a budget that works so you can pay [your student loans] each month.&#8221; Her suggestion? Start by trimming the fat from your spending.&nbsp;
&#8220;Give up eating out or other unnecessary expenses so you can start making your payments,&#8221; she advises. Cutting back on indulgences can free up the cash needed to keep up with loan payments and it's a simple step toward regaining control over your finances.
Trending: Elon Musk and Jeff Bezos are bullish on one city that could dethrone New York and become the new financial capital of the US.<a href="https://www.benzinga.com/money/miami-take-new-yorks-place-financial-capital"> Investing in its booming real estate market has never been more accessible.</a>
The silver lining is that the <a href="https://www.benzinga.com/personal-finance/24/09/40879305/the-22-6-trillion-crisis-neither-harris-nor-trump-mentioned-but-its-the-top-concern-for-millions">Biden </a>administration has rolled out a new income-driven repayment (IDR) plan called the Saving on a Valuable Education (SAVE) Plan. This plan could offer significant relief to borrowers, especially those on the lower end of the income scale.
According to the Department of Education, single borrowers earning $32,800 or less and families of four earning $67,500 or less won't need to make any payments at all. Even those earning more will see some savings – at least $1,000 annually compared to older IDR plans.
See Also: <a href="https://www.benzinga.com/money/irs-finalizes-10-year-rule-adv">IRS Finalizes 10-Year Rule For Retirement Withdrawals, Making Things &#8216;Even More Insanely Complicated&#8217;</a>
"With the new guidelines, many people's payments will be cut in half," Orman explained. This makes it much more manageable to stay on top of those monthly payments, reducing the risk of falling behind. For borrowers feeling stretched thin, this adjustment might just be their lifeline.
There's no sugarcoating it – budgeting for loan payments can feel like a juggling act. But as Orman points out, it's a necessity. &#8220;People need to remember not to put off paying your student loans. It's not going away; it should be the first monthly bill you pay. You can't bankrupt your student loan.&#8221;
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Personal Finance

Suze Orman Says Missing This One Crucial Monthly Payment Could Cost You Big – Here's The First Bill You Should Never Ignore

Jefferies analyst Julien Dumoulin-Smith initiates coverage on Portland Gen Electric (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/POR#NYSE">POR</a>) with a Hold rating and announces Price Target of $48.

Price Target

Initiation

Jefferies Initiates Coverage On Portland Gen Electric with Hold Rating, Announces Price Target of $48

Jefferies analyst Paul Zimbardo initiates coverage on Dominion Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/D#NYSE">D</a>) with a Hold rating and announces Price Target of $58.

Jefferies Initiates Coverage On Dominion Energy with Hold Rating, Announces Price Target of $58

Jefferies analyst Julien Dumoulin-Smith initiates coverage on American Electric Power (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AEP#NASDAQ">AEP</a>) with a Hold rating and announces Price Target of $107.

Jefferies Initiates Coverage On American Electric Power with Hold Rating, Announces Price Target of $107

Jefferies analyst Julien Dumoulin-Smith initiates coverage on Southern (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SO#NYSE">SO</a>) with a Hold rating and announces Price Target of $94.

Jefferies Initiates Coverage On Southern with Hold Rating, Announces Price Target of $94

Jefferies analyst Julien Dumoulin-Smith initiates coverage on Idacorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IDA#NYSE">IDA</a>) with a Hold rating and announces Price Target of $110.

Jefferies Initiates Coverage On Idacorp with Hold Rating, Announces Price Target of $110

Jefferies analyst Julien Dumoulin-Smith initiates coverage on WEC Energy Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WEC#NYSE">WEC</a>) with a Hold rating and announces Price Target of $102.

Jefferies Initiates Coverage On WEC Energy Group with Hold Rating, Announces Price Target of $102

The head-to-head matchup between former President Donald Trump and Vice President Kamala Harris could come down to how several swing states fall in the<a href="https://www.benzinga.com/topic/2024-election"> 2024 presidential election.</a>
A new poll shows which candidate is making up ground in the key seven states.
What Happened: Harris has been trending up <a href="https://www.benzinga.com/general/politics/24/09/40910999/trump-in-trouble-vice-president-harris-has-record-6-point-lead-in-2024-election-poll-after-debat">in 2024 election polls</a> of nationally registered voters, posting her largest lead in the weekly Morning Consult poll this week in the head-to-head matchup.
A new poll of <a href="https://www.benzinga.com/topic/swing-states">swing state</a> voters, which covers seven key battleground states, could show a different picture.
Here are the results from the September Emerson College swing state <a href="https://emersoncollegepolling.com/september-2024-swing-state-polls-trump-and-harris-locked-in-tight-presidential-race/">polls </a>with the results from August in parentheses:
<ul>
<li>Arizona: Trump 49% (50%), Harris 48% (47%)</li>
<li>Georgia: Trump 50% (48%), Harris 47% (49%)</li>
<li>Michigan: Harris 49% (50%), Trump 47% (47%)</li>
<li>Nevada: Trump 48% (48%), Harris 48% (49%)</li>
<li>North Carolina: Harris 49% (48%), Trump 48% (49%)</li>
<li>Pennsylvania: Trump 48% (48%), Harris 47% (48%)</li>
<li>Wisconsin: Trump 49% (49%), Harris 48% (48%)</li>
</ul>
The results show that Trump leads Harris in four of the seven states and is tied with the vice president in one state. Harris leads Trump in two states. Each candidate led three states in the August poll.
Trump gained support in one state and lost support in two states, with four states remaining the same from August. Harris gained support in two states and lost support in four states.
"There has been marginal movement in the presidential election since the late August Emerson swing state polls before the presidential debate," Emerson College Polling executive director Spencer Kimball said. 
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Why It's Important: The seven swing states in question together represent 93 electoral votes in the 2024 election. Six of the seven states above were won by Biden in the 2020 election with Trump winning North Carolina. Several of the states were flipped from Trump's win in the 2016 election.
A Marist poll recently found how swing state voters in Michigan, Pennsylvania and Wisconsin would vote in the 2024 election if it were held today. The race for Pennsylvania and Wisconsin was close with Trump and Harris tied in Pennsylvania and Harris leading by one point in Wisconsin.
In the state of Michigan, Harris had a five-point lead over Trump.
The three states together represent 44 electoral votes and could prove important in the 2024 election. Trump was the first Republican presidential candidate to sweep the three states since Ronald Reagan in 1984, <a href="https://nypost.com/2024/09/19/us-news/trump-harris-neck-and-neck-among-likely-voters-in-pennsylvania-and-wisconsin-veep-up-5-in-michigan-polls/">according </a>to the New York Post. Biden won all three of the states in the 2020 election.
All seven swing states see voters pick the economy as the top issue ahead of the election. Immigration, threats to democracy and housing affordability are also top voter issues in swing states.
With less than two months until the 2024 election, the race between Harris and Trump remains close and swing states continue to be one of the most monitored polling items given their importance.
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Photo: Shutterstock

Harris In Trouble? New Swing State Poll Shows Trump Gains Ground In Key Battleground Areas For 2024 Election

Jefferies analyst Paul Zimbardo initiates coverage on Xcel Energy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XEL#NASDAQ">XEL</a>) with a Hold rating and announces Price Target of $70.

Jefferies Initiates Coverage On Xcel Energy with Hold Rating, Announces Price Target of $70

WM Technology (MAPS) just unveiled an update. Duncan Grazier, WM Technology's CTO, has resigned without any conflict, staying on as an advisor unti...

WM Technology CTO Resigns, Executive Chair Awarded Bonus

WM Technology Q2 Earnings Preview

WM Technology GAAP EPS of $0.01 misses by $0.01, revenue of $45.9M beats by $2.9M

An announcement from WM Technology (MAPS) is now available. WM Technology, Inc. is experiencing changes in its leadership, with Fiona Tan stepping ...

WM Technology Leadership Changes and Exit Packages

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WM Tech (NASDAQ:<a href="https://investorplace.com/stock-quotes/maps-stock-quote/">MAPS</a>) just reported results for the second quarter of 2024.<ul><li>WM Tech reported earnings per share of 1 cent. This was below the analyst estimate for EPS of 2 cents.</li><li>The company reported revenue of $45.90 million.</li><li>This was 6.75% better than the analyst estimate for revenue of $43.00 million.</li></ul><div>InvestorPlace Earnings is a project that leverages data from <a href="https://www.tradesmith.com">TradeSmith</a> to automate coverage of quarterly earnings reports. InvestorPlace Earnings distills key takeaways including earnings per share and revenue, as well as how a company stacks up to analyst estimates. These articles are published without human intervention, allowing us to inform our readers of the latest figures as quickly as possible. To report any concerns or inaccuracies, please contact us at <a href="mailto:editor@investorplace.com">editor@investorplace.com</a>.</div><h3>More From InvestorPlace</h3>
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MAPS Stock Earnings: WM Tech Misses EPS, Beats Revenue for Q2 2024

WM Technology, Inc. (MAPS) Q2 2024 Earnings Call Transcript

WM Technology, Inc. 2024 Q2 - Results - Earnings Call Presentation

WM Technology Is Still A Strong Buy

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Palantir Technologies (PLTR) delivered robust financial results and expanded operations through strategic partnerships and multi-year contracts in the second quarter. While the company's growing product demand, strategic initiatives, and innovations contribute to its continued growth, the stock is at an elevated valuation. So, let's determine whether Palantir is an ideal addition to your portfolio. Read more to find out... Palantir Technologies Inc. (<a href="https://stocknews.com/stock/PLTR/">PLTR</a>) builds and deploys software platforms for the intelligence community to help with counterterrorism investigations and operations. In the last reported quarter, the company surpassed analyst revenue and earnings expectations. PLTR reported revenue of $678.13 million, topping analysts' estimate of $652.42 million, and its EPS of $0.09, which also surpassed analysts' estimates.
Palantir caters to a wide range of customers, including government and other commercial organizations. During the second quarter, its US government revenue showed growth of 24% year-over-year to $278 million, and its commercial revenue grew 33% year-over-year to $307 million. Also, the company finalized 27 deals worth over $10 million, and its customer count rose 41% year-over-year.
In the recent period, PLTR entered into multiple strategic partnerships with companies, including Microsoft (<a href="https://stocknews.com/stock/MSFT/">MSFT</a>), BP (<a href="https://stocknews.com/stock/BP/">BP</a>), and Tree Energy Solutions, to accelerate their AI-integrated solutions and operations. Also, the company has contracted to provide data integration and AI solutions to drive digital transformation for customers.
PLTR is among the enterprises that have benefitted exponentially from the Artificial Intelligence (AI) revolution. Last year, it launched its Artificial Intelligence Platform (AIP), which has helped the company achieve faster sales growth. Also, with the solid growth trajectory of the Artificial Intelligence market, poised to grow at a <a href="https://www.marketsandmarkets.com/Market-Reports/artificial-intelligence-market-74851580.html">CAGR of 35.7%</a> to reach $1.34 trillion by 2030, Palantir's prospects are promising.
However, rising competition and an increasing number of companies engaged in software development and innovations might affect PLTR's market share and current market dominance.
Shares of PLTR have surged 41.3% over the past six months and 123.9% over the past year to close its last trading session at $34.91.
Let's look at factors that could influence PLTR performance in the upcoming months.
Positive Recent Developments
On September 9, PLTR and BP extended their strategic relationship by entering into an enterprise agreement to introduce new artificial intelligence capabilities through Palantir's AIP software. The new contract is built on a decade of deep collaboration that has created a firm foundation for BP's oil and gas production operations using PLTR's industry-leading software.
Through the collaboration, Palantir's AIP software will help BP harness large language models (LLMs) to enhance and accelerate human decision-making with suggested courses of action through automated analysis of the underlying data.
On August 8, PLTR and Microsoft Corporation announced a significant advancement in their partnership to bring sophisticated and secure cloud, AI, and analytics capabilities to the U.S. Defense and Intelligence Community.
This first-of-its-kind integrated technology enables critical national security missions to operationalize Microsoft's best-in-class LLMs through Azure OpenAI (AOAI) Service within PLTR's AI Platform in Microsoft's government and classified cloud environments.
Robust Financials
For the second quarter that ended June 30, 2024, PLTR's revenue increased 27.1% year-over-year to $678.13 million, and its gross profit rose 17.1% year-over-year to $549.57 million. The company's adjusted income from operations of $253.57 million reflects growth of 87.8% from the year-ago value.
In addition, the company's adjusted net income attributable to common stockholders and adjusted EPS came in at $221.41 million and $0.09, up 85.2% and 80% from the prior year's quarter, respectively. PLTR's <a href="https://www.investopedia.com/terms/a/adjusted-ebitda.asp">adjusted EBITDA</a> increased 82.4% year-over-year to $261.62 million.
Also, the company's adjusted free cash flow improved 54.8% from the prior-year quarter to $148.66 million.
Positive Analyst Estimates
Analysts expect PLTR's revenue for the third quarter (ending September 2024) to grow 26.1% year-over-year to $703.69 million. The consensus EPS estimate of $0.09 for the same period reflects a 29.8% year-over-year improvement. Also, it has an impressive earnings surprise history, having topped consensus revenue and EPS estimates in each of the trailing four quarters.
For the fiscal year ending December 2024, the company's revenue and EPS are expected to grow 24% and 42% year-over-year to $2.76 billion and $0.36, respectively. Additionally, Street expects its revenue and EPS for the fiscal year 2025 to increase 20.3% and 21.4% year-over-year to $3.32 billion and $0.43, respectively.
High Profitability
PLTR's trailing-12-month gross profit margin of 81.39% is 64.2% higher than the industry average of 49.58%. Its trailing-12-month net income margin of 16.32% is significantly higher than the industry average of 3.79%. Further, the stock's trailing-12-month EBIT margin of 11.78% is 134.8% higher than the industry average of 5.02%.
Furthermore, the stock's trailing-12-month ROCE, ROTC, and ROTA of 11.55%, 4.75%, and 7.79% are favorable compared to the industry averages of 4.59%, 2.73%, and 2.17%, respectively.
Elevated Valuation
In terms of forward non-GAAP, PLTR is trading at 98.34x, 320.3% higher than the industry average of 23.39x. Likewise, the stock's forward EV/Sales multiple of 27.01 is considerably higher than the industry average of 2.82. Also, its forward EV/EBITDA of 74.47x is 435.2% higher than the industry average of 13.91x.
Also, the stock's forward Price/Sales of 28.34x is significantly higher than the 2.77x industry average. And its Price/Book of 17.60x is 331.1% higher than the industry average of 4.08x.
POWR Ratings Reflect Uncertainty
PLTR's mixed prospects are reflected in its <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a>. The stock has an overall rating of C, which translates to a Neutral in our proprietary system. The POWR Ratings are calculated by considering 118 different factors, with each factor weighted to an optimal degree.
Our proprietary rating system also evaluates each stock based on eight distinct categories. PLTR has an A grade for Quality, consistent with its higher-than-industry profitability.
However, the stock received a D grade for Stability, in sync with its 24-month beta of 2.06.
PLTR is ranked #17 in the 18-stock A-rated <a href="https://stocknews.com/category/software-saas/">Software - SaaS</a> industry.
Beyond what is mentioned above, we have also given PLTR grades for Sentiment, Growth, and Momentum. Get access to all the PLTR Ratings <a href="https://stocknews.com/stock/PLTR/">here</a>.
Bottom Line
PLTR's recent strategic innovations and collaborations with industry leaders have strengthened its position in the AI market. Further, with its continuous efforts of leveraging AI for government and commercial contracts have significantly contributed to the operational expansion.
While the company's long-term prospects appear sturdy with strategic partnerships and solid financial performance, its stretched valuation and rising market competition suggest waiting for a better entry point in this stock could be suitable.
Stocks to Consider Instead of Palantir Technologies Inc. (PLTR)
Due to its near-term uncertain prospects, the odds of PLTR outperforming in the weeks and months ahead are compromised. However, there are many industry peers with much more impressive POWR Ratings. So, consider these A (Strong Buy) or B (Buy) stocks from the A-rated <a href="https://stocknews.com/category/software-saas/">Software - SaaS</a> industry instead:
DocuSign Inc. (<a href="https://stocknews.com/stock/DOCU/">DOCU</a>), MiX Telematics Ltd. ADR (<a href="https://stocknews.com/stock/MIXT/">MIXT</a>), and WM Holding Company, LLC (<a href="https://stocknews.com/stock/MAPS/">MAPS</a>).
For exploring more A and B-rated software stocks, <a href="https://stocknews.com/category/software-saas/">click here</a>.
What To Do Next?
Discover 10 widely held stocks that our proprietary model shows have tremendous downside potential. Please make sure none of these "death trap" stocks are lurking in your portfolio:
<a href="https://report.stocknews.com/free-report/10-stocks-to-sell/?formplacement=artbotad_10sell">10 Stocks to SELL NOW! &gt;</a>

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PLTR shares were trading at $35.59 per share on Friday afternoon, up $0.68 (+1.95%). Year-to-date, PLTR has gained 107.28%, versus a 18.99% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Rjkumari Saxena</h2> <img src='https:/wp-content/uploads/2024/04/Rajkumari-Saxena_Image-1.jpeg' style="float:left; padding:5px;width:125px;">Rajkumari started her career as a writer but gradually shifted her focus to financial journalism, leveraging her educational background in Commerce. Fascinated by the interplay of business and economic shifts in equities, she aspires to evolve as an analyst. With a knack for simplifying complex financial concepts, her mission is to empower investors with insights that lead to profitable decisions.<a href="https://stocknews.com/authors/?author=rajkumari-saxena">More...</a>The post <a href=https://stocknews.com/news/pltr-docu-mixt-maps-msft-bp-does-palantirs-ai-push-make-it-a-buy-now/>Does Palantir's AI Push Make It a Buy Now?</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

Does Palantir's AI Push Make It a Buy Now?

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