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Chechen leader&nbsp;Ramzan Kadyrov alleged on Friday that Tesla CEO Elon Musk remotely turned off his Cybertruck with a mounted machine gun after it was sent to the Northern Military District as part of the Russia-Ukraine war.
What Happened: &#8220;Elon Musk did something ugly. He gives expensive gifts from the heart, and then turns them off remotely,&#8221; Kadyrov wrote in a post on messaging app Telegram in Russian. 
The Head of the Chechen Republic added that the truck was sent to the Northern Military District where it &#8220;coped well&#8221; in combat missions and had to be towed after it was turned off. 
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="522" height="1024" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/21032019/1b55bfaa-eb5a-49f0-8749-28f514728e6d-522x1024.jpeg" alt="" class="wp-image-559570" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/21032019/1b55bfaa-eb5a-49f0-8749-28f514728e6d-522x1024.jpeg 522w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/21032019/1b55bfaa-eb5a-49f0-8749-28f514728e6d-153x300.jpeg 153w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/21032019/1b55bfaa-eb5a-49f0-8749-28f514728e6d.jpeg 551w" sizes="(max-width: 522px) 100vw, 522px" /></figure>
In another post, Kadyrov said that he is now sending two more Cybertrucks which were unaffected by the remote shutdown to the warzone. The attached video shows the trucks riding through a forested area with men in military uniforms in the truckbeds and mounted machine guns. 
 "You can&#8217;t think of a better advertisement for Cybertruck,&#8221; Kadyrov wrote in the post. 
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="592" height="1024" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/21035212/578ee562-8ffc-4022-8e78-27bcdf3c4f6d-592x1024.jpeg" alt="" class="wp-image-559592" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/21035212/578ee562-8ffc-4022-8e78-27bcdf3c4f6d-592x1024.jpeg 592w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/21035212/578ee562-8ffc-4022-8e78-27bcdf3c4f6d-173x300.jpeg 173w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/21035212/578ee562-8ffc-4022-8e78-27bcdf3c4f6d.jpeg 624w" sizes="(max-width: 592px) 100vw, 592px" /></figure>
Why It Matters: Kadyrov first shared a video of him driving the Cybertruck with a machine gun mounted on the roof on Telegram last month.
"Based on such excellent characteristics, the Cybertruck will soon be sent to the SVO zone (Russia-Ukraine war zone), where it will be in demand under appropriate conditions. I am sure this &#8220;beast&#8221; will bring a lot of benefits to our soldiers," Kadyrov then wrote on Telegram in Russian, hinting at the use of the Tesla vehicle in the country's war against Ukraine.
Kadyrov thanked Musk for the truck and also welcomed him to Grozny, the capital city of Chechnya. 
Musk, however,<a href="https://www.benzinga.com/news/24/08/40434114/elon-musk-denies-donating-tesla-cybertruck-to-ramzan-kadyrov-after-russian-general-showed-off-truck"> denied &#8220;donating&#8221; a Cybertruck </a>to Kadyrov and wrote on X, &#8220;Are you seriously so r&#x2A;&#x2A;&#x2A;&#x2A;&#x2A;&#x2A;&#x2A; that you think I donated a Cybertruck to a Russian general? That's amazing.&#8221;
Though Musk has denied "donating" the truck to Kadyrov, the CEO didn't clarify how the leader might have gained access to the truck showcased in the video<a href="https://www.benzinga.com/news/24/08/40504595/military-expert-calls-russian-president-allys-tesla-cybertruck-super-cool-but-useless-combat-vehicle"> shared on Telegram</a>. The Cybertruck is currently limited to sales within the U.S.
Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read More:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40968088/teslas-stock-performance-in-2019-and-2024-shows-striking-similarities-says-gary-bla" target="_blank" rel="noreferrer noopener">Tesla&#8217;s Stock Performance In 2019 And 2024 Shows ‘Striking&#8217; Similarities, Says Gary Black: Flags This Reason That May Lead To Price Surge In 2025</a></li>
</ul>
(Note: The Telegram post mentioned in this story was translated from Russian to English with Google Translate. Benzinga does not vouch for the accuracy of the translation.)
Photo: courtesy of Tesla

News

Politics

Global

Tech

General

Russian President's Ally Ramzan Kadyrov Says Elon Musk Remotely Turned Off His Cybertruck In Russia

Tesla and SpaceX CEO Elon Musk has fired back at Gov. Gavin Newsom&#8217;s (D) threat of legal action over his <a href="https://www.benzinga.com/news/24/09/40912021/gavin-newsom-signs-laws-aimed-at-curbing-deepfakes-around-elections-critical-that-we-ensure-ai-is-no">use of memes and deepfakes</a>.
What Happened: Governor Newsom has denied any intention to suppress parodies&nbsp;and made it clear that he&nbsp;was laying down the law&nbsp;with Musk.
His statement came after days of escalating feud between the duo, which started with Newsom signing a stringent law banning political&nbsp;&#8220;deepfakes,&#8221; earlier this week.
Following the governor&#8217;s enactment of three bills aimed at restricting the use of AI in creating fake images for videos and political ads, Musk accused Newsom of trying to outlaw parody.
&#8220;I think Mr. Musk has missed the punchline. Parody is still alive and well in California but deepfakes and manipulation of elections that hurts democracy and the integrity of the system and trust.&#8221;
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/09/40893054/mark-cuban-says-he-would-buy-rupert-murdochs-fox-news-and-elon-musks-x-but-there-are-some-obstacles?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mark Cuban Says He Would Buy Rupert Murdoch&#8217;s Fox News And Elon Musk&#8217;s X But There Are Some Obstacles: &#8216;If I Had Enough… I&#8217;d Buy It In A Heartbeat&#8217;</a>
When probed about whether he intends to seek legal action against Musk, Newsom said, &#8220;The law asserts that many can seek injunction relief. I just signed the law &#8230; and I haven&#8217;t had a chance to review the specific lawsuit around a conservative blogger that seems offended by our laws.&#8221;
Musk responded to Newsom&#8217;s potential legal action on social media with one word: &#8220;Amazing.&#8221; 
When&nbsp;Cathie Wood, CEO of&nbsp;ARK Invest,&nbsp;shared the same video and&nbsp;called it &#8220;Unconstitutional,&#8221; Musk agreed, stating,&nbsp;&#8220;Very much so, but that&nbsp;didn't stop them.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Very much so, but that didn't stop them
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1837312927906283986?ref_src=twsrc%5Etfw">September 21, 2024</a></blockquote>
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Why It Matters: Musk has faced accusations of manipulating the platform to prioritize his posts and suspending the accounts of journalists who report on him.
In response to Musk&#8217;s actions, several major <a href="https://www.benzinga.com/news/24/09/40762349/x-faces-major-advertiser-exodus-amid-string-of-elon-musk-controversies">advertisers have pulled their ads</a> from X.
Meanwhile, the rising misuse of AI to produce deepfakes has become an increasing concern. A previous study by Google&#8217;s DeepMind showed that deepfakes of politicians and celebrities were <a href="https://www.benzinga.com/news/24/06/39471997/google-deepmind-study-reveals-that-deepfakes-of-politicians-and-celebrities-more-common-than-ai-assi">more prevalent than AI-driven</a> cyberattacks.
Earlier this year, AI image generation tools from OpenAI and Microsoft were linked to <a href="https://www.benzinga.com/news/24/03/37516234/alarm-bells-ring-as-ai-generated-from-openai-microsoft-image-tools-fuel-election-misinformation-scan">election misinformation scandals</a>.
In January 2024, deepfake <a href="https://www.benzinga.com/news/24/01/36813251/taylor-swift-joe-biden-and-more-embroiled-in-deepfake-attacks-threatening-us-election-integrity-we-a">incidents involving public figures</a> like Taylor Swift and President Joe Biden raised concerns at the White House.
The law signed by Newsom also came after an AI-manipulated campaign video ridiculing Democratic nominee Kamala Harris in July gained attention after <a href="https://www.benzinga.com/news/24/07/40001800/musk-appears-to-violate-own-social-media-platforms-guidelines-posts-manipulated-video-of-kamala-harr">being shared by Musk</a>.
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>.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/24/09/40914747/jpmorgan-ceo-jamie-dimon-thinks-social-media-platforms-like-tiktok-and-facebook-are-a-total-stupid-w?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">JPMorgan CEO Jamie Dimon Thinks Social Media Platforms Like TikTok And Facebook Are ‘A Total Stupid Waste Of Time'</a></li>
</ul>
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Image Via Shutterstock

Legal

Elon Musk Reacts After Cathie Wood Labels Gavin Newsom's Threat To Sue Tesla CEO Over Memes 'Unconstitutional': '…But That Didn't Stop Them'

Microsoft Corporation co-founder Bill Gates has shared the <a href="https://www.benzinga.com/general/entertainment/24/09/40738801/lady-gaga-mark-cuban-bernie-sanders-fauci-and-more-join-bill-gates-netflix-special-i-have-a">&#8220;behind the scenes&#8221; of his new</a> Netflix Inc. series, &#8220;What's Next? The Future with Bill Gates.&#8221;
What Happened:&nbsp;The new series which delves into future challenges with Gates interviewing politicians, celebrities, and business leaders was released earlier this week.
In a blog post on Wednesday, Gates highlights three standout discussions with Lady Gaga, Senator Bernie Sanders and Phoebe Gates, his daughter.
About Gaga he said that their conversation centered around misinformation. &#8220;Our conversation was valuable in helping me think through what is (and might not be) possible when it comes to preventing misinformation.&#8221;
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/09/40914747/jpmorgan-ceo-jamie-dimon-thinks-social-media-platforms-like-tiktok-and-facebook-are-a-total-stupid-w?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">JPMorgan CEO Jamie Dimon Thinks Social Media Platforms Like TikTok And Facebook Are &#8216;A Total Stupid Waste Of Time&#8217;</a>
With Sanders, the conversation focused on income inequality and taxation of the wealthy.
Gates mentioned that several of his friends weren&#8217;t sure about him meeting the senator because &#8220;Sen. Sanders is the first U.S. Senator in history to go on record saying that billionaires shouldn't exist.&#8221;
However, they had a nice discussion, during which the senator asked some tough questions.
Gates also shared that when they were going to their respective cars after parting, a jogger identified them in a way that made it clear they were an &#8220;unexpected duo.&#8221;
The Microsoft co-founder also wrote about his daughter Phoebe, with whom he discussed the impact of misinformation on women's rights activism. &#8220;I'm so proud of how Phoebe uses her voice to advocate for women and girls.&#8221;
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Why It Matters:&nbsp;The five-part docuseries tackles various challenges such as&nbsp;AI, climate change, misinformation,&nbsp;disease eradication, and income inequality.
Among the guests are Anthony Fauci, Bono, Greg Brockman, James Cameron, Lady Gaga, Mark Cuban, Phoebe Gates, Senator Sanders, and Senator Mitt Romney.
According to a <a href="https://www.benzinga.com/general/entertainment/24/09/40866331/bill-gates-new-netflix-series-features-mark-cuban-voted-most-anticipated-guest-benzinga-pol">poll conducted by Benzinga</a>, most users are interested in the episode featuring Cuban.
The billionaire entrepreneur and &#8220;Shark Tank&#8221; star won the poll, securing nearly 50% of the votes, following him in second place was Fauci, likely due to his insights on COVID-19 and vaccines.
Meanwhile, Netflix, in July, Netflix reported <a href="https://www.benzinga.com/news/earnings/24/07/39849026/netflix-q2-earnings-highlights-revenue-beat-eps-beat-advertising-revenue-more-meaningful-squid-game">second-quarter revenue</a> of $9.56 billion, representing a 16.8% increase compared to the previous year. This figure surpassed the Street&#8217;s consensus estimate of $9.53 billion, according to data<a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent071824&amp;t=be2bearmibe3na1" target="_blank" rel="noreferrer noopener">&nbsp;from Benzinga Pro.</a>
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>.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/24/09/40911877/jeff-bezos-had-a-habit-of-keeping-an-empty-chair-for-the-most-important-person-in-the-room-at-compan?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Jeff Bezos Had A Habit Of Keeping An Empty Chair For The Most Important Person In The Room At Company Meetings: This Strategy Helped The Amazon Founder Build The E-Commerce Giant We Know Today</a></li>
</ul>
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Image via Wikimedia Commons

Entertainment

'What's Next? The Future With Bill Gates': Microsoft Co-Founder Unveils Behind The Scenes Of His New Netflix Series

Georgia Rep. Marjorie Taylor Greene (R-Ga.) on Friday slammed the Biden administration for lack of outcome to investments under its Broadband Equity Access and Deployment Program.
What Happened: The program is a $42 billion initiative aimed at making access to high-speed broadband universal by 2030. Georgia was allocated $1.3 billion under the initiative. However, not one household has been connected to broadband under the program in the state of Georgia, Greene said. 
&#8220;Talk about a policy failure, talk about not delivering results to the American people. Spending $42 billion and yet not having one household connected to the internet,&#8221; Greene said at the House Committee on Oversight and Accountability hearing held on Thursday to highlight the Biden-Harris Administration&#8217;s alleged policy failures.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Staggeringly bad waste of money <a href="https://t.co/RerY7SrCmQ">https://t.co/RerY7SrCmQ</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1837322544820441207?ref_src=twsrc%5Etfw">September 21, 2024</a></blockquote>
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FCC Commissioner Brendan Carr Weighs In: "In 2021, Vice President Harris agreed to lead the Administration's signature, $42 billion plan for expanding high-speed internet to millions of Americans. It has now been 1,039 days since the $42 billion program was signed into law. After all of that time, not one person has been connected to the Internet with those dollars—not one home, not one business. So what has the Biden-Harris Administration been doing over the last 1,039 days instead of focusing on connecting Americans?,&#8221; <a href="https://www.benzinga.com/news/24/09/40851361/republican-fcc-commissioner-alleges-double-standards-after-fcc-chair-jessica-rosenworcel-says-spacex">Commissioner of the Federal Communications Commission</a> Brendan Carr said.
Carr further alleged that the program is being used to pursue a &#8220;climate change agenda and DEI requirements&#8221; that will lead to &#8220;wasteful overbuilding.&#8221;
&#8220;All of this will leave rural and other unconnected communities behind,&#8221; Carr added. 
Billionaire CEO Responds: &#8220;Staggeringly bad waste of money,&#8221; SpaceX CEO Elon Musk also said about the $42 billion broadband program. 
It must be noted that Musk&#8217;s SpaceX has a <a href="https://www.benzinga.com/news/24/09/40892013/spacex-ceo-elon-musk-says-canadian-government-is-funding-starlink-rival-for-satellite-internet-despi">satellite internet segment called Starlink</a> which seeks to provide connectivity around the globe with a network of satellites in low-Earth orbit. 
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read More:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40968088/teslas-stock-performance-in-2019-and-2024-shows-striking-similarities-says-gary-bla" target="_blank" rel="noreferrer noopener">Tesla's Stock Performance In 2019 And 2024 Shows ‘Striking' Similarities, Says Gary Black: Flags This Reason That May Lead To Price Surge In 2025</a></li>
</ul>
Image via Flickr/ Gage Skidmore

SPACE

Marjorie Taylor Greene Slams Lack Of Results From Biden Administration's $42B Broadband Program In Georgia: Elon Musk Calls It 'Staggeringly Bad Waste Of Money'

The U.S. Securities and Exchange Commission (SEC) has given the green light for the listing and trading of options for BlackRock Inc.&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLK#NYSE">BLK</a>) spot Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) exchange-traded fund (ETF).
What Happened: The approved options will be listed on the Nasdaq under the ticker symbol &#8220;IBIT.&#8221; This move allows institutional investors and traders to hedge their exposure to bitcoin more efficiently.
Options trading provides a cost-effective way to amplify exposure to bitcoin, offering an alternative method for managing investments in the world&#8217;s largest cryptocurrency. The approval marks another significant step for cryptocurrency, which has been gaining mainstream acceptance.
See Also: <a href="https://www.benzinga.com/news/24/09/40953535/anybody-who-votes-for-a-democrat-or-kamala-worst-you-should-have-your-head-examined-trump-tells-vote?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">&#8216;Anybody Who Votes For A Democrat Or Kamala, Worst…You Should Have Your Head Examined:&#8217; Trump Tells Voters</a>
Earlier this year, bitcoin ETFs were launched, bringing the asset class closer to widespread adoption. Options give holders the right to buy or sell an asset at a predetermined price by a set date, adding flexibility to investment strategies.
Exchanges began applying for spot bitcoin ETF options as soon as it became evident that the SEC would approve the underlying ETFs in January. The SEC oversees the technical rule changes required for exchanges to list options and confirmed that existing surveillance procedures will apply to IBIT options.
Why It Matters: The approval of Bitcoin ETF options comes at a time when the cryptocurrency market is showing signs of strength. Analysts have <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40963556/experts-predict-bitcoin-surge-to-65-000-as-crypto-market-remains-steady">projected Bitcoin to reach $65,000</a> in the near term, citing increased long positions and bullish options activity. This positive market sentiment is further bolstered by the SEC&#8217;s recent approval, which is likely to attract more institutional investors to the crypto space.
Moreover, the outcome of the 2024 election could have a significant impact on Bitcoin&#8217;s price, according to a <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">Bernstein report</a>. A Trump victory could potentially propel Bitcoin to new heights, reaching $80,000 to $90,000 by the end of Q4, while a Harris win could see Bitcoin retreating to the $30,000 to $40,000 range. The approval of Bitcoin ETF options, therefore, adds another layer of intrigue to the potential impact of the election on the cryptocurrency market.
Read Next: <a href="https://www.benzinga.com/markets/equities/24/09/40917216/elon-musk-says-warren-buffett-is-positioning-for-kamala-harris-win-with-his-277b-cash-pile-as-pr?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Says Warren Buffett Is Positioning For Kamala Harris Win With His $277B Cash Pile</a>
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.
Image: Shutterstock

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

Cryptocurrency

Equities

Options

Markets

$BTC

SEC Greenlights Options Trading For BlackRock's Spot Bitcoin ETF, Offering New Hedge For Institutional Investors

The legal counsel for&nbsp;former President Donald Trump&#8217;s new&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40934959/anthony-scaramucci-says-donald-trump-is-a-polarizing-person-but-pulling-democrats-along-on">cryptocurrency venture</a>, World Liberty Financial (WLFI), a new decentralized finance (DeFi) platform has been accused of trying to seize control of another digital asset company.
What Happened: Alex Golubitsky, the general counsel&nbsp;for <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40905315/donald-trumps-new-crypto-project-world-liberty-financial-everything-you-need-to-know">World Liberty Financial</a>, was previously&nbsp;fired from a different cryptocurrency&nbsp;company, Umami, in January 2023.
Following his dismissal, Golubitsky allegedly attempted to take over Umami, according to the company&#8217;s CEO, Alex O&#8217;Donnell, <a href="https://www.businessinsider.in/tech/news/the-lawyer-for-trumps-new-crypto-firm-was-accused-of-trying-to-take-over-another-digital-asset-company/articleshow/113536864.cms">reported</a> Business Insider, citing court documents.
Trump announced his association with World Liberty Financial on Monday, although his official role remains unclear.
He is listed as the &#8220;chief crypto advocate&#8221;&nbsp;in a company white paper. Three of Trump&#8217;s children, including his youngest son Barron Trump, are also linked to the venture.
See Also:&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40946963/bitcoin-worth-63-000-pulled-in-33-pack-of-trading-cards-at-gamestop-mind-boggling-story-go?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin Worth $63,000 Pulled In $33 Pack Of Trading Cards At GameStop: &#8216;Mind-Boggling&#8217; Story Goes Viral, Highlights Crypto Redemption Card</a>
After his dismissal from Umami, Golubitsky and another former employee reportedly&nbsp;appointed themselves to Umami&#8217;s board&nbsp;and tried to take the company&#8217;s intellectual property.
A Delaware vice chancellor ruled in O&#8217;Donnell&#8217;s favor last year and awarded O&#8217;Donnell over $375,000 in legal fees and costs, the report noted.
Other key employees of World Liberty Financial, including&nbsp;Chase Herro and Zachary Folkman,&nbsp;have also faced scrutiny for their professional pasts.
Their&nbsp;previous crypto venture, Dough Finance,&nbsp;was hacked this summer, resulting in the theft of&nbsp;over $2 million from users.
Why It Matters: Trump&#8217;s foray into the crypto space with World Liberty Financial was officially announced during a live X, formerly Twitter, Spaces event, marking his formal <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40932192/trump-pays-up-for-smash-burgers-and-diet-cokes-with-bitcoin-during-new-york-campaign-halt-">embrace of blockchain technology</a>.
His <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40901067/i-was-blown-away-donald-trump-credits-sons-for-introducing-him-to-crypto-marvels-at-nft-co">interest in cryptocurrencies</a> was largely influenced by the success of his NFT collection and the influence of his children, according to the former President.
The venture has already sparked concerns, with Ethereum co-founder Charles Hoskinson expressing reservations about the platform <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40957734/ethereum-co-founder-says-donald-trumps-defi-platform-is-scary-because-everything-trump-doe">becoming a political issue</a>.
The 2024 election outcome could also <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">significantly impact</a> Bitcoin&#8217;s price, with a Trump victory potentially propelling Bitcoin to new heights, according to a Bernstein report.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40924380/mark-cuban-slams-trumps-crypto-plans-while-jon-stewart-calls-him-the-lefts-favorite-billio?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mark Cuban Slams Trump&#8217;s Crypto Plans While Jon Stewart Calls Him &#8216;The Left&#8217;s Favorite Billionaire&#8217; – What Investors Need To Know</a></li>
</ul>
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Image created via photos on Shutterstock

Media

Trump's New Crypto Venture's Legal Counsel Accused Of Attempting To Seize Control Of Rival Firm

Boeing Co&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) Space segment chief Ted Colbert has reportedly left the company on the heels of issues identified with its Starliner spacecraft.
What Happened: Colbert, who has run Boeing&#8217;s Defense, Space, and Security division since 2022, has left the company, Financial Times<a href="https://www.ft.com/content/c87385c1-5c28-49f4-9348-5fe2d05db746"> reported</a>, citing a memo to employees sent by Boeing CEO Kelly Ortberg.
The memo, sent out on Friday, reportedly said that Colbert&#8217;s departure is &#8216;effective immediately.&#8217;
Steve Parker, the division&#8217;s chief operating officer, will lead it until a permanent replacement is named, the report added. Parker has been at Boeing for over 36 years now, according to his LinkedIn profile. 
Boeing did not immediately respond to <a href="http://pro.benzinga.com">Benzinga&#8216;s</a> request for comment.
Why It Matters: Colbert&#8217;s departure comes on the heels of Boeing&#8217;s troubles with the Starliner spacecraft. Starliner launched two astronauts – Sunita Williams and Butch Wilmore – to the International Space Station on June 5. Though the two were supposed to return in about eight days, technical issues identified with the spacecraft while docking delayed the return until NASA decided to scrap bringing back the two astronauts on Starliner altogether.
The Starliner subsequently<a href="https://www.benzinga.com/news/24/09/40758526/boeing-starliner-returns-to-earth-without-sunita-williams-and-butch-wilmore-lands-in-new-mexico-afte" target="_blank" rel="noreferrer noopener">&nbsp;returned without the astronauts on Sept. 6</a>. Williams and Wilmore, who are currently at the station, will now join two Crew-9 mission astronauts on their return journey to Earth in February 2025 aboard a SpaceX Dragon spacecraft, the agency said. The crew-9 mission is now slated to launch <a href="https://www.benzinga.com/news/24/09/40850262/nasa-delays-crew-9-mission-yet-again-this-time-to-complete-prelaunch-preparations">no earlier than Sept. 25</a>. 
Boeing&#8217;s Defense, Space, and Security division, one of its three main divisions, has also been hoarding losses. For the full-year 2023, the segment reported a loss from operations of $1.76 billion. In 2022, the loss from operations was still higher at $3.54 billion.
Price Action: Boeing shares closed down 0.8% at $153.29 on Friday. The stock is down 39% year-to-date, according to <a href="https://www.benzinga.com/pro/">data from Benzinga Pro</a>. 
Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read More:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40968088/teslas-stock-performance-in-2019-and-2024-shows-striking-similarities-says-gary-bla">Tesla&#8217;s Stock Performance In 2019 And 2024 Shows &#8216;Striking&#8217; Similarities, Says Gary Black: Flags This Reason That May Lead To Price Surge In 2025</a></li>
</ul>
Image via NASA

Boeing's Space Segment Chief Ted Colbert Quits Amid Mounting Pressure After Starliner Fails To Bring Astronauts Back From ISS

The Securities and Exchange Commission (SEC) has urged a federal judge to sanction Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) and SpaceX CEO Elon Musk if he continues to avoid <a href="https://www.benzinga.com/government/24/05/39090563/elon-musk-to-testify-in-sec-probe-of-twitter-acquisition-billionaire-to-provide-investigative-testim">appearing for a deposition</a>.
What Happened: The SEC is probing whether Elon Musk or his associates engaged in securities fraud in 2022 when Musk <a href="https://www.benzinga.com/news/earnings/22/10/29358239/when-can-elon-musk-sell-tesla-shares-could-more-shares-be-unloaded-to-finance-twitter-acquisition">sold Tesla shares and increased</a> his stake in Twitter, now rebranded as X.
In May, Musk was <a href="https://www.benzinga.com/news/24/02/37061910/us-judge-orders-elon-musks-testimony-in-sec-probe-of-44b-twitter-acquisition">ordered by the court</a>&nbsp;to appear for a deposition&nbsp;by the financial regulators <a href="https://www.benzinga.com/news/23/04/31810229/elon-musk-bought-twitter-1-year-ago-a-look-back-at-whats-happened-since-and-what-could-be-next">regarding&nbsp;the Twitter deal</a>. 
However, the tech billionaire twice failed to appear before the SEC, first in September 2023 and again last week, in defiance of a clear court order, according to SEC attorney Robin Andrews, <a href="https://www.cnbc.com/2024/09/20/sec-says-musk-should-be-sanctioned-if-he-keeps-dodging-twitter-depositions.html">reported</a> CNBC.
Andrews has requested&nbsp;the judge to consider sanctions&nbsp;if Musk continues to delay. The SEC also plans&nbsp;to ask the court to hold Musk in &#8220;civil contempt&#8221;&nbsp;for canceling a deposition on&nbsp;Sept. 10 with&nbsp;only a few hours&#8217; notice.
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/09/40940596/matching-nvidia-in-short-term-is-unlikely-analysts-predict-as-china-ramps-up-search-for-rivalling-je?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">&#8216;Matching Nvidia In Short-Term Is Unlikely,&#8217; Analysts Predict As China Ramps Up Search For Rivalling Jensen Huang-Led Chip Giant Amid US Sanctions</a>
Musk&#8217;s deposition has been rescheduled for&nbsp;early October at an SEC&nbsp;office.
Musk&#8217;s attorney, Alex Spiro, responded that &#8220;such drastic action would be inappropriate,&#8221; adding that&nbsp;Musk and his companies have&nbsp;been&nbsp;<a href="https://www.benzinga.com/news/24/07/39650518/musk-argues-mistake-not-fraud-in-twitter-stake-disclosure-lawsuit">cooperating with the SEC</a> in multiple other ongoing investigations.
A user on X&nbsp;shared the news&nbsp;about the SEC&#8217;s intent to seek sanctions against Musk, and argued that the tech billionaire &#8220;was busy overseeing the launch of SpaceX&#8217;s Polaris Dawn mission that day.&#8221;
In response, Musk seemingly agreed and <a href="https://www.benzinga.com/news/24/09/40872104/polaris-dawn-returns-home-after-5-day-mission-including-first-commercial-spacewalk">described the mission</a> as &#8220;our highest-risk astronaut mission ever.&#8221;
He noted that stringent weather constraints were only met on the night of the launch.
&#8220;The weather constraints&nbsp;on this mission are also&nbsp;extremely high and only cleared&nbsp;that night. I had to&nbsp;make a go vs no-go&nbsp;decision. Their lives came first.&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">This was our highest risk astronaut mission ever and I have responsibility for their safety. The weather constraints on this mission are also extremely high and only cleared that night. I had to make a go vs no-go decision. Their lives came first.
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1837308226632667160?ref_src=twsrc%5Etfw">September 21, 2024</a></blockquote>
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Why It Matters: Earlier this year in April, the&nbsp;U.S. Supreme Court upheld a <a href="https://www.benzinga.com/government/24/04/38495283/supreme-court-rejects-elon-musks-bid-to-overturn-sec-decision-report">2018 SEC settlement&nbsp;following</a> Musk's claim of having "funding secured" to privatize Tesla, which the SEC deemed false.
Musk has also&nbsp;previously <a href="https://www.benzinga.com/markets/equities/24/04/38517681/elon-musk-reacts-to-an-old-clip-from-lex-fridmans-podcast-on-what-exactly-is-wrong-with-sec-the-">expressed dissatisfaction with the SEC</a>&nbsp;on Lex Fridman‘s podcast, criticizing the agency&#8217;s failure to protect retail investors from hedge funds. &#8220;Not once did the SEC go after any of the hedge funds who were nonstop shorting and distorting Tesla. Not once,&#8221; he stated at the time.
Last year, after the&nbsp;<a href="https://www.benzinga.com/news/23/10/35120811/elon-musk-fires-back-as-sec-sues-him-over-twitter-stock-drama-comprehensive-overhaul-of-these-agenci">SEC filed a lawsuit against Musk</a>&nbsp;over his Twitter stock purchase, to which Musk responded that a comprehensive overhaul of these agencies is sorely needed.
Read Next:
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<li><a href="https://www.benzinga.com/news/24/09/40931686/elon-musk-agrees-with-nvidia-ceo-jensen-huangs-vision-of-a-future-where-well-have-our-own-ai-powered?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Agrees With Nvidia CEO Jensen Huang&#8217;s Vision Of A Future Where We&#8217;ll Have Our Own AI-Powered Personal Assistants Like Star Wars&#8217; R2-D2 Droid</a></li>
</ul>
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Image via Shutterstock

TSLA

Elon Musk Claps Back After SEC Threatens Sanctions Against Tesla CEO For Evading Twitter Depositions, Says He Was Overseeing 'Highest Risk Astronaut Mission' Of SpaceX: 'I Had To Make A Go Vs No-Go Decision. Their Lives Came First'

President of El Salvador Nayib Bukele visited Tesla Inc&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) gigafactory in Texas and spent several hours talking with company CEO Elon Musk, the leader said on Friday.
What Happened: &#8220;It was a pleasure to spend several hours talking with one of the great minds of our time,&#8221; Bukele wrote on social media platform X, formerly Twitter, referring to Musk. The post was adjoined by a short video showing Musk welcoming Bukele to Tesla while remarking that Giga Texas is &#8220;three times the size of the Pentagon.&#8221;
Musk too said that he had &#8220;an excellent conversation&#8221; with the Salvadoran president.
&#8220;We talked a lot about the nature of reality, future of humanity and how technology like AI and robotics will affect the world,&#8221; Musk said while adding that El Salvador has an &#8220;amazing leader.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Just had an excellent conversation with President <a href="https://twitter.com/nayibbukele?ref_src=twsrc%5Etfw">@NayibBukele</a>! We talked a lot about the nature of reality, future of humanity and how technology like AI and robotics will affect the world. El Salvador has an amazing leader. <a href="https://t.co/vvCfu1tYoB">https://t.co/vvCfu1tYoB</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1837312664197886123?ref_src=twsrc%5Etfw">September 21, 2024</a></blockquote>
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Why It Matters: Bukele took office for the second term in June. He is known for his<a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40569179/elon-musk-cheers-pro-bitcoin-el-salvador-president-nayib-bukeles-free-speech-guarantee-ami"> pro-Bitcoin stance </a>and announced that he planned to build Bitcoin City in late 2021. The country also recognized Bitcoin as a legal tender in 2021.
Musk shares Bukele&#8217;s enthusiasm for cryptocurrencies. Last month, <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40665546/tesla-ceo-elon-musk-wants-to-bring-back-dogecoin-as-a-payment-option-to-buy-companys-merch">Musk said</a> that he would like to have the option of paying with meme cryptocurrency Dogecoin reinstated for the company&#8217;s merchandise on its online shop. 
Though the shop currently only allows payment in dollars, it previously allowed users to&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/22/01/25050400/tesla-begins-accepting-dogecoin-on-online-store-displays-pricing-of-several-merchandise-di" target="_blank" rel="noreferrer noopener">make payments with Dogecoin</a>. Earlier this year, Musk even suggested in an address during his visit to Giga Berlin that the company would accept Dogecoin as an official form of payment for its cars at some point.
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:
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<li><a href="https://www.benzinga.com/news/24/09/40967983/spacex-pushes-ahead-with-fifth-starship-test-flight-preparation-despite-no-faa-launch-approvals-in-s">SpaceX Pushes Ahead With Fifth Starship Test Flight Preparation Despite No FAA Launch Approvals In Sight</a></li>
</ul>
Photo by Gobierno Danilo Medina on Flickr

Pro-Bitcoin El Salvador President Nayib Bukele Meets Elon Musk At Tesla's Giga Texas, Hails Billionaire CEO As 'One Of The Great Minds Of Our Time'

Chip giant Qualcomm Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>) reportedly <a href="https://www.benzinga.com/markets/equities/24/09/40673694/intel-ceo-pat-gelsinger-to-present-board-with-major-asset-sale-and-cost-cutting-plan-including-h">approached its struggling</a> competitor Intel Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) for a possible takeover.
What Happened: Qualcomm&#8217;s takeover attempt was in recent days, which if it goes through, would be monumental given Intel&#8217;s&nbsp;market value of roughly $90&nbsp;billion, <a href="https://www.wsj.com/business/deals/qualcomm-approached-intel-about-a-takeover-in-recent-days-fa114f9d">reported</a> The Wall Street Journal, citing people familiar with the matter.
However, the deal is far from a sure thing, with potential antitrust scrutiny posing a significant obstacle.
Intel, once the world&#8217;s most valuable chip company, has seen its shares plummet by about 60% this year.
The company&#8217;s market value was above $290 billion as recently as 2020. Qualcomm, on the other hand,&nbsp;has a market value of&nbsp;around $185 billion.
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/09/40893054/mark-cuban-says-he-would-buy-rupert-murdochs-fox-news-and-elon-musks-x-but-there-are-some-obstacles?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mark Cuban Says He Would Buy Rupert Murdoch&#8217;s Fox News And Elon Musk&#8217;s X But There Are Some Obstacles: &#8216;If I Had Enough… I&#8217;d Buy It In A Heartbeat&#8217;</a>
A potential deal would significantly broaden Qualcomm&#8217;s scope, <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/02/36882810/qualcomm-extends-its-deals-with-apple-and-samsung-analyst-calls-it-a-not-surprising">supplementing&nbsp;its mobile phone chip</a> business with Intel&#8217;s chips, which are widely used&nbsp;in personal computers and servers.
Both companies are striving to take advantage of the artificial intelligence boom, but they have been eclipsed by AI chip giant Nvidia Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>).
Intel has been <a href="https://www.benzinga.com/markets/equities/24/08/40593141/intel-board-member-lip-bu-tan-reportedly-left-after-disputes-with-ceo-and-other-directors-over-c">dealing with significant crises</a>, including a disappointing quarterly report in August, which led to <a href="https://www.benzinga.com/government/24/08/40230583/intels-8-5b-government-windfall-fails-to-stop-15-000-layoffs-at-chipmaker">plans for layoffs</a> and a halt in dividend payments.
The company also&nbsp;reported a loss of $1.6&nbsp;billion for the second quarter, compared with a $1.5 billion&nbsp;profit a year earlier.
Qualcomm&#8217;s&nbsp;approach follows a more than&nbsp;three-year turnaround effort at Intel&nbsp;under CEO Pat&nbsp;Gelsinger that has yet to yield significant results, the report noted
If the takeover is successful, it&nbsp;would rank as the all-time&nbsp;largest technology M&amp;A deal, surpassing Microsoft Corporation&#8217;s&nbsp;<a href="https://www.benzinga.com/general/gaming/23/10/35240972/microsofts-gaming-powerhouse-grows-activision-blizzard-bought-for-69-billion">$69 billion acquisition</a> of Activision&nbsp;Blizzard.
Why It Matters: In August, <a href="https://www.benzinga.com/news/earnings/24/08/40115276/intel-stock-falls-after-weak-q2-results-new-cost-reduction-plan-15-headcount-reduction">Intel posted quarterly earnings</a> of 2 cents per share, falling 80% short of the analyst consensus estimate of 10 cents and reflecting an 84.62% decline from the same quarter last year.
Revenue for the quarter was $12.83 billion, slightly below the expected $12.94 billion and down 0.9% year-over-year.
The Data Center and AI segment brought in $3 billion, a 3% decline, while Client Computing revenue rose 9% to $7.4 billion, and Network and Edge revenue slipped 1% to $1.3 billion.
On the other hand, Qualcomm has been performing well, with a <a href="https://www.benzinga.com/news/earnings/24/07/40080595/qualcomm-q3-earnings-highlights-revenue-beat-eps-beat-strong-execution-of-our-growth-and-diversific">third-quarter earnings report</a> highlighting an 11% year-over-year revenue increase.
Read Next:
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<li><a href="https://www.benzinga.com/news/24/09/40914747/jpmorgan-ceo-jamie-dimon-thinks-social-media-platforms-like-tiktok-and-facebook-are-a-total-stupid-w?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">JPMorgan CEO Jamie Dimon Thinks Social Media Platforms Like TikTok And Facebook Are ‘A Total Stupid Waste Of Time'</a></li>
</ul>
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Image via Shutterstock

INTC

NVDA

QCOM

Qualcomm Reportedly Eyes Potential Takeover Of Intel Amid 60% Stock Decline, But Antitrust Concerns Loom

The similarities between Tesla Inc&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) stock performance this year compared to 2019 are &#8220;striking,&#8221; The Future Fund LLC managing partner Gary Black said on Friday, throwing caution to short sellers.
What Happened: Similar to how Tesla was gearing up to launch the Model Y in 2019, the company is now planning new vehicles, <a href="https://www.benzinga.com/news/24/06/39331612/elon-musk-teases-three-new-vehicles-at-teslas-annual-shareholder-meeting-more-affordable-model-incom">including more affordable models</a>, with the start of production slated for the first half of 2025.
In 2019, Tesla shorts believed that the Model Y was just a larger Model 3 and would grab market share of the Model 3, Black said. &#8220;In hindsight the shorts failed to realize Model Y vaulted TSLA into the hot-selling CUV category where it quickly become the #1 seller,&#8221; he added. Model Y is currently Tesla&#8217;s best-selling vehicle. 
Likewise, in 2025, the new affordable model of Tesla will increase Tesla&#8217;s total addressable market, Black said.
&#8220;Shorts again wrongly believe the TSLA compact will cannibalize Model 3, even though Model 3 competes in the affordable sedan segment. As with Model Y, TSLA will sell every TSLA Compact it makes, and earnings estimates will again run ahead of the stock price as they did in 2020, pushing the stock price higher,&#8221; Black wrote.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24TSLA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TSLA</a> similarities between 2019 and 2024 are striking. <a href="https://twitter.com/search?q=%24TSLAQ&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TSLAQ</a> shorts should listen up. In 2019, TSLA was gearing up for launch of the Model Y, a CUV that would essentially double TSLA TAM. The shorts believed Model Y was just a bigger Model 3 and thought erroneously that Model… <a href="https://t.co/QHpvD0h8O9">pic.twitter.com/QHpvD0h8O9</a>
&mdash; Gary Black (@garyblack00) <a href="https://twitter.com/garyblack00/status/1837268469139546597?ref_src=twsrc%5Etfw">September 20, 2024</a></blockquote>
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Tesla boomed in 2020 upon the release of the Model Y, Black noted, while adding that the same phenomena of positive earnings revisions driving the stock price higher could occur in 2025 when the more affordable vehicle is released.
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="650" height="450" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/20222144/newplot-2-3.jpeg" alt="" class="wp-image-559411" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/20222144/newplot-2-3.jpeg 650w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/20222144/newplot-2-3-300x208.jpeg 300w" sizes="(max-width: 650px) 100vw, 650px" /><figcaption class="wp-element-caption">Tesla Stock Trajectory In 2020</figcaption></figure>
Why It Matters: Tesla said during its second-quarter earnings report that the <a href="https://www.benzinga.com/news/24/08/40156978/tesla-ceo-elon-musk-admits-lower-priced-evs-from-rival-automakers-are-a-problem-but-not-one-that-wil">upcoming affordable vehicle</a> will be able to be produced on the same manufacturing lines as its current vehicle lineup. The company has yet to provide a price range or details on its new affordable vehicle but Black believes it would be priced between $25,000 and $30,000.
The Model 3 is currently the cheapest offering from Tesla. Its cheapest version starts at $38,990 in the U.S.
Tesla stock closed down 2.3% at $238.25 on Friday. The stock is down about 4% year-to-date, according to <a href="https://www.benzinga.com/pro/">data from Benzinga Pro</a>. 
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="650" height="450" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/20223551/newplot-3-3.jpeg" alt="" class="wp-image-559413" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/20223551/newplot-3-3.jpeg 650w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/20223551/newplot-3-3-300x208.jpeg 300w" sizes="(max-width: 650px) 100vw, 650px" /><figcaption class="wp-element-caption">Tesla Stock Trajectory Year-To-Date</figcaption></figure>
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read More:
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<li><a href="https://www.benzinga.com/news/24/09/40952233/gms-cruise-eyes-resuming-robotaxi-operations-in-california-after-long-pause-due-to-pedestrian-accide">GM&#8217;s Cruise Eyes Resuming Robotaxi Operations In California After Long Pause Due To Pedestrian Accident In 2023</a></li>
</ul>
Image via Shutterstock

Analyst Color

Tesla's Stock Performance In 2019 And 2024 Shows 'Striking' Similarities, Says Gary Black: Flags This Reason That May Lead To Price Surge In 2025

The Republican party is in a frenzy to control the damage caused by the latest scandal involving North Carolina gubernatorial candidate&nbsp;Mark Robinson. They fear it could ripple beyond the state and impact Donald Trump&#8217;s 2024 <a href="https://www.benzinga.com/news/24/07/39852878/trump-says-he-is-accepting-presidential-nomination-with-faith-and-devotion-there-is-no-victory-in-wi">presidential campaign</a>.&nbsp;
What Happened: After CNN&#8217;s report on Thursday regarding Robinson&#8217;s inflammatory remarks about race, gender, and sexual preferences have left the Republicans scrambling for distance, <a href="https://thehill.com/homenews/campaign/4891581-north-carolina-gubernatorial-candidate-mark-robinson/">reported</a> The Hill.
Democrats, on the other hand, are highlighting Robinson&#8217;s connections&nbsp;to other candidates, including former&nbsp;President Trump, who has previously praised&nbsp;the North Carolina lieutenant governor.
<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">Trump: I think Mark Robinson is one of the hottest politicians in the United States. He is a friend of mine. Thank you, Mark <a href="https://t.co/mkBsqfZEVT">pic.twitter.com/mkBsqfZEVT</a>
&mdash; Kamala HQ (@KamalaHQ) <a href="https://twitter.com/KamalaHQ/status/1836873971867763117?ref_src=twsrc%5Etfw">September 19, 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/24/09/40913930/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>
&#8220;This is a unique situation where you're not just seeing somebody who's putting the down-ballot races in jeopardy, but I think it's going to have an up-ballot effect as well,&#8221; said a Republican consultant active in North Carolina, noting that it could &#8220;really hurt&#8221; Trump&#8217;s chances of winning the state.
As per the CNN report, Robinson commented on a pornography website&#8217;s message board, self-identified as a &#8220;Black Nazi,&#8221; expressed a desire for the return of slavery, and stated a preference for Adolf Hitler over former President Barack Obama.
Robinson&#8217;s candidacy was already under scrutiny before the latest revelations. Democratic candidate Josh Stein had been leading Robinson by a significant margin in many surveys.
Despite calls for Robinson to withdraw from the race, he has vowed to stay and deemed the report fake, accusing&nbsp;the Stein campaign of leaking&nbsp;the story.
The state party issued a&nbsp;statement&nbsp;backing Robinson, accusing Democrats of&nbsp;trying to &#8220;demonize&#8221; him. However,&nbsp;other Republicans have criticized the&nbsp;comments and expressed concerns about their potential impact on the GOP&#8217;s chances in the state.
<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 was a tough day, but we must stay focused on the races we can win. We have to make sure President Trump wins NC and support the outstanding GOP candidates running for key NCGA and judicial races. If Harris takes NC, she takes the White House. We can't let that happen. <a href="https://twitter.com/hashtag/ncpol?src=hash&amp;ref_src=twsrc%5Etfw">#ncpol</a>
&mdash; Thom Tillis (@ThomTillis) <a href="https://twitter.com/ThomTillis/status/1836947026543517998?ref_src=twsrc%5Etfw">September 20, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Why It Matters: Robinson&#8217;s scandal could have a significant impact on the presidential&nbsp;race and other contests in&nbsp;North Carolina.
The Trump campaign has not directly addressed the allegations against Robinson&nbsp;but highlighted the importance of&nbsp;North Carolina to Trump&#8217;s path to victory, the report noted.
The state is 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">key battleground in the upcoming</a> 2024 presidential election. Earlier this week, a new poll of swing state voters showed that the Democratic nominee has gained one point over the former President in North Carolina.
Democrats, meanwhile, are feeling increasingly optimistic&nbsp;about their chances in the&nbsp;state. They believe that&nbsp;Stein should get a boost&nbsp;from the scandal, which could also benefit other Democrats.
This optimism appears to get some backing from data scientist Thomas Miller&#8217;s prediction, that the 2024 presidential election could see a <a href="https://www.benzinga.com/news/24/09/40950674/data-scientist-who-called-2020-election-correctly-says-its-gone-from-drastic-landslide-in-trumps-dir">drastic landslide in favor</a> of Vice President Harris.
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Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Image via Flickr

Republicans In Damage Control Mode After Mark Robinson's Remarks Spark Concern For Trump Campaign: 'Going To Have An Up-Ballot Effect,' Says GOP Consultant

SpaceX, on Friday, continued to prepare for the fifth test flight of its Starship launch vehicle despite <a href="https://www.benzinga.com/news/24/09/40956691/spacex-ceo-elon-musk-rains-criticism-at-wrong-person-in-his-ongoing-tirade-against-faa">rising tensions with the</a> Federal Aviation Administration (FAA), the federal agency responsible for greenlighting launches. 
What Happened: SpaceX said on Friday that the fifth flight&#8217;s launch vehicle has been moved to the launching pad at its Starbase spaceport.
<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">Flight 5 Starship moved to the pad at Starbase <a href="https://t.co/ajzPFsBCcR">pic.twitter.com/ajzPFsBCcR</a>
&mdash; SpaceX (@SpaceX) <a href="https://twitter.com/SpaceX/status/1837216036686340316?ref_src=twsrc%5Etfw">September 20, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
<figcaption class="wp-element-caption">SpaceX is yet to receive the green light from the FAA for its next flight. The company said earlier this month that Starship has been&nbsp;<a href="https://www.benzinga.com/news/24/08/40305893/starship-fifth-flight-delayed-spacex-ceo-elon-musk-gives-fresh-august-end-timeline" target="_blank" rel="noreferrer noopener">ready for its fifth flight test</a>&nbsp;since the first week of August but has been put off owing to &#8220;frivolous&#8221; and &#8220;patently absurd&#8221; licensing issues. &#8220;Unfortunately, we continue to be stuck in a reality where it takes longer to do the government paperwork to license a rocket launch than it does to design and build the actual hardware,&#8221; SpaceX said.</figcaption></figure>
The company said that it recently received a launch license date estimate of late November for the fifth flight from the FAA, marking a two-month delay from the previously communicated date of mid-September.
The delay, SpaceX said, was not based on a new safety concern but on &#8220;superfluous&#8221; environmental analysis including concerns about the Starbase facility having a negative impact on local flora and fauna. However, the company disputed these claims.
Why It Matters: Earlier this week, SpaceX also tested the engines of its Starship launch vehicle for its sixth flight test.
"Flight 5 is built and ready to fly. Flight 6 will be ready to fly before Flight 5 even gets approved by FAA!" SpaceX CEO&nbsp;Elon Musk&nbsp;said on Thursday.
The Starship&#8217;s last test flight was conducted in June. For the upcoming flight, SpaceX&#8217;s goal is to&nbsp;catch Starship&#8217;s&nbsp;<a href="https://www.benzinga.com/news/24/06/39543299/spacex-preparing-to-catch-starship-booster-at-starbase-during-next-test-flight-instead-of-splashing" target="_blank" rel="noreferrer noopener">booster stage back at Starbase</a>&nbsp;using the launch tower's mechanical arms, marking a significant demonstration of Starship&#8217;s reusability.
Earlier this week, the FAA also proposed a fine of $633,009 on SpaceX for allegedly failing to follow its license requirements during two launches in 2023.
SpaceX Vice President for Legal David Harris subsequently<a href="https://www.benzinga.com/markets/equities/24/09/40951122/elon-musk-blasts-faa-for-targeting-spacex-over-petty-matters-while-ignoring-boeings-safety-issue" target="_blank" rel="noreferrer noopener">&nbsp;sent a letter addressed to key members&nbsp;</a>of the U.S. Congress, including Rep.&nbsp;Frank Lucas&nbsp;(R-Okla.) and Rep.&nbsp;Zoe Lofgren&nbsp;(D-Calif.), Sen.&nbsp;Ted Cruz&nbsp;(R-Texas) and Senate Commerce Committee Chair&nbsp;Maria Cantwell&nbsp;(D-Wash.) denying the FAA's allegations of regulatory violations while also alleging that the federal agency lacks the resources to review licensing commercial spaceflight operations.
Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
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Photo via Shutterstock

SpaceX Pushes Ahead With Fifth Starship Test Flight Preparation Despite No FAA Launch Approvals In Sight

JPMorgan Chase (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) CEO Jamie Dimon has called for federal employees in Washington, DC, to return to their offices, highlighting the ongoing debate over <a href="https://www.benzinga.com/top-stories/24/09/40887347/amazon-to-cut-management-layers-end-work-from-home">remote work policies.</a>
What Happened: Speaking at The Atlantic Festival, Dimon expressed his frustration with the number of empty buildings in the capital, <a href="https://www.businessinsider.com/jamie-dimon-dc-federal-workers-should-go-back-to-office-2024-9">according</a> to Business Insider on Friday.
&#8220;By the way, I&#8217;d also make Washington, DC, go back to work. I can&#8217;t believe, when I come down here, the empty buildings. The people who work for you not going to the office,&#8221; he stated,
 &#8220;That bothers me,&#8221; he added. Dimon emphasized that he does not allow such flexibility at JPMorgan.
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: Dimon is not alone in his stance. Earlier this week, Amazon (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) CEO Andy Jassy announced that Amazon employees would <a href="https://www.benzinga.com/markets/equities/24/09/40912814/amazon-told-its-staff-they-must-come-to-office-five-days-a-week-but-its-primary-healthcare-subsi">return to the office five days a wee</a>k, reverting to pre-pandemic norms.
JPMorgan&#8217;s policy mandates managing directors to be in the office full-time, while other employees must work in person at least three days a week. Last year, the Biden Administration also <a href="https://www.benzinga.com/real-estate/23/08/33670485/biden-tells-remote-federal-workers-to-come-back-as-washington-d-c-office-occupancy-rates-plummet">pushed federal employees </a>to return to in-person work.
Despite these efforts, many federal workers still have flexible work arrangements. For instance, some Environmental Protection Agency employees are required to be in the office only four days a month. Other agencies, like the Department of the Treasury and the Department of the Interior, require at least 50% in-office presence.
Office vacancy rates in DC remain high, with about 22% of <a href="https://www.benzinga.com/real-estate/reit/24/07/40037113/work-from-home-has-hit-office-real-estate-the-hardest-in-these-5-us-cities">office space empty </a>in the second quarter of 2024, according to CBRE. The federal government and private-sector offices contribute to this trend.
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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.
Image via Flickr/ Frank Gruber

AMZN

JPMorgan CEO Jamie Dimon Calls For Federal Employees To Return To Office, Says Empty Buildings 'Bother' Him: 'I Can't Believe...'

OTRK

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

TRAW

RSLS

Owning a home can give some people confidence about their retirement prospects, but experts warn that this confidence might be misplaced.
According to the Your Money Retirement Survey conducted by SurveyMonkey and CNBC.com, about 37% of workers – including those employed part-time, full-time, self-employed, or as business owners – believe they are "ahead of schedule" (7%) or "on schedule" (30%) with their retirement savings.
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Among those who feel on track, 42% attribute their progress to starting<a href="https://www.benzinga.com/personal-finance/24/05/38793057/can-you-guess-how-many-retire-with-a-5-million-nest-egg"> retirement savings</a> early. Other key factors contributing to their preparedness include having little to no debt (38%) and home equity or ownership (37%).
The August survey gathered responses from 6,657 adults, including 2,603 retirees and 4,054 working adults.
See Also: The average American couple has saved this much money for retirement —<a href="http://www.benzinga.com/money/smartasset"> How do you compare</a>?
Angie Chen, a senior research economist and assistant director of savings research at the Center for Retirement Research at Boston College, suggests that homeowners' confidence in their home's value as a source of retirement wealth may be misguided.
"Homeowners are actually more likely to be overconfident in their retirement readiness," Chen told CNBC. "There's a lot of misconception in terms of how people assess whether they are ahead or not in retirement."
Nevertheless, Winnie Sun, co-founder and managing director of Sun Group Wealth Partners in Irvine, California, points out that homeownership can offer other benefits during retirement.
Trending: This billion-dollar fund has invested in the next big real estate boom,<a href="https://www.benzinga.com/money/fundrise-flagship-fund"> here's how you can join for $10.</a>
The Center for Retirement Research's (CRR) National Retirement Risk Index (NRRI) gauges the percentage of working-age households at risk of being financially unprepared for retirement. A 2023 CRR analysis revealed that 28% of people believe they are not at risk, despite the NRRI indicating otherwise.
"People who own houses but still owe a lot on their houses are much more likely to be overconfident or not worried enough," Chen said.
Trending: This Jeff Bezos-backed startup will allow you to<a href="https://www.benzinga.com/money/bezos-landlord-100-dollars"> become a landlord in just 10 minutes, and you only need $100</a>.
To accurately assess retirement preparedness, Chen emphasizes the importance of considering not just the value of your home but also the amount you have borrowed and still owe.
For instance, if you purchased a $500,000 home but still owe $400,000, your actual equity is $100,000. Experts caution that accessing this equity can be costly and risky, as borrowing against your home is not always straightforward.
"<a href="https://www.benzinga.com/personal-finance/24/06/39234360/my-struggling-73-year-old-dad-owes-45-000-on-his-mortgage-and-15-000-on-a-heloc-should-he-sell-o">Housing is not liquid</a>," Chen said. "You might feel good about having this large asset, but you can't consume that in retirement. You can't spend it so that you can spend and consume other savings."
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>
Experts also point out some advantages to homeownership.
Owning a home offers financial benefits even if you're not factoring in home equity for retirement. First, you build equity in your home. Sun said that when you sell the property, such as when downsizing in retirement, you can access that equity as a lump sum.
Additionally, while you own the property, you have a fixed housing cost, typically including a stable mortgage payment. Despite rising costs for home insurance and property taxes in recent years, you might be eligible for senior discounts on utilities by the time you retire.
Although a house is not a liquid asset, experts suggest you can still access your home equity if needed.
"In most cases for retirees, they kind of see equity as their emergency fund," Sun said.
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Personal Finance

Retirement Ready? Think Again As Experts Warn Homeowners Still Paying Mortgages That They 'Are Much More Likely To Be Overconfident'

Oracle (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NYSE">ORCL</a>) has outperformed the market over the past 5 years by 11.84% on an annualized basis producing an average annual return of 25.79%. Currently, Oracle has a market capitalization of $465.52 billion. 
Buying $1000 In ORCL: If an investor had bought $1000 of ORCL stock 5 years ago, it would be worth $3,109.96 today based on a price of $168.00 for ORCL at the time of writing.
<h3>Oracle's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1726867809_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Trading Ideas

ORCL

Here's How Much You Would Have Made Owning Oracle Stock In The Last 5 Years

In the latest quarter, 4 analysts provided ratings for ADMA Biologics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADMA#NASDAQ">ADMA</a>), showcasing a mix of bullish and bearish perspectives.
Summarizing their recent assessments, the table below illustrates the evolving sentiments in the past 30 days and compares them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Analysts have recently evaluated ADMA Biologics and provided 12-month price targets. The average target is $18.25, accompanied by a high estimate of $20.00 and a low estimate of $15.00. Marking an increase of 32.73%, the current average surpasses the previous average price target of $13.75. 
<img src="https://www.benzinga.com/files/images/story/2024/1726866079_0.png" alt="price target chart" />
<h2>Diving into Analyst Ratings: An In-Depth Exploration</h2>
A comprehensive examination of how financial experts perceive ADMA Biologics is derived from recent analyst actions. The following is a detailed summary of key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Kristen Kluska</td>
<td>Cantor Fitzgerald</td>
<td>Maintains</td>
<td>Overweight</td>
<td>$20.00</td>
<td>$20.00</td>
</tr>
<tr>
<td>Raghuram Selvaraju</td>
<td>HC Wainwright &amp; Co.</td>
<td>Raises</td>
<td>Buy</td>
<td>$18.00</td>
<td>$10.00</td>
</tr>
<tr>
<td>Kristen Kluska</td>
<td>Cantor Fitzgerald</td>
<td>Raises</td>
<td>Overweight</td>
<td>$20.00</td>
<td>$15.00</td>
</tr>
<tr>
<td>Kristen Kluska</td>
<td>Cantor Fitzgerald</td>
<td>Raises</td>
<td>Overweight</td>
<td>$15.00</td>
<td>$10.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: In response to dynamic market conditions and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their reaction to recent developments related to ADMA Biologics. This insight gives a snapshot of analysts' perspectives on the current state of the company.</li>
<li>Rating: Gaining insights, analysts provide qualitative assessments, ranging from 'Outperform' to 'Underperform'. These ratings reflect expectations for the relative performance of ADMA Biologics compared to the broader market.</li>
<li>Price Targets: Analysts explore the dynamics of price targets, providing estimates for the future value of ADMA Biologics's stock. This examination reveals shifts in analysts' expectations over time.</li>
</ul>
For valuable insights into ADMA Biologics's market performance, consider these analyst evaluations alongside crucial financial indicators. Stay well-informed and make prudent decisions using our Ratings Table.
<a href="https://www.benzinga.com/quote/ADMA/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on ADMA Biologics analyst ratings.</a>
<h2>Get to Know ADMA Biologics Better</h2>
ADMA Biologics Inc is an end-to-end commercial biopharmaceutical company dedicated to manufacturing, marketing and developing specialty plasma-derived biologics for the treatment of immunodeficient patients at risk for infection and others at risk for certain infectious diseases. The segments of the company are ADMA BioManufacturing which generates maximum revenue and Plasma Collection Centres, and corporate segment. The company sells plasma-derived intermediate fractions to certain customers, which are generated as part of its FDA-approved manufacturing process for IG and IVIG products. It also provides laboratory contracting services to certain customers and anticipates providing contract filling, labeling and packing services. The company derives maximum revenue from United States.
<h3>Understanding the Numbers: ADMA Biologics's Finances</h3>
Market Capitalization Analysis: The company exhibits a lower market capitalization profile, positioning itself below industry averages. This suggests a smaller scale relative to peers.
Revenue Growth: ADMA Biologics's revenue growth over a period of 3 months has been noteworthy. As of 30 June, 2024, the company achieved a revenue growth rate of approximately 78.29%. This indicates a substantial increase in the company's top-line earnings. As compared to its peers, the company achieved a growth rate higher than the average among peers in Health Care sector.
Net Margin: ADMA Biologics's financial strength is reflected in its exceptional net margin, which exceeds industry averages. With a remarkable net margin of 29.91%, the company showcases strong profitability and effective cost management.
Return on Equity (ROE): ADMA Biologics's financial strength is reflected in its exceptional ROE, which exceeds industry averages. With a remarkable ROE of 18.75%, the company showcases efficient use of equity capital and strong financial health.
Return on Assets (ROA): ADMA Biologics's ROA excels beyond industry benchmarks, reaching 8.82%. This signifies efficient management of assets and strong financial health.
Debt Management: With a below-average debt-to-equity ratio of 0.75, ADMA Biologics adopts a prudent financial strategy, indicating a balanced approach to debt management.
<h2>What Are Analyst Ratings?</h2>
Ratings come from analysts, or specialists within banking and financial systems that report for specific stocks or defined sectors (typically once per quarter for each stock). Analysts usually derive their information from company conference calls and meetings, financial statements, and conversations with important insiders to reach their decisions.
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
If you want to keep track of which analysts are outperforming others, you can view updated analyst ratings along withanalyst success scores in <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.
Breaking: Wall Street's Next Big Mover
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