 Stock (OTC:PAASF), Trade Ideas

Senator Maria Cantwell is aiming to terminate China&#8217;s influence over TikTok, while <a href="https://www.benzinga.com/news/24/04/38346514/elon-musk-voices-opposition-to-potential-tiktok-ban-it-is-not-what-america-stands-for" target="_blank" rel="noreferrer noopener">ensuring that any related legislation withstands legal scrutiny.</a>
Cantwell In Charge Of Shaping TikTok&#8217;s Fate
The House overwhelmingly approved a measure mandating TikTok to secure a new owner devoid of foreign&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/04/38137350/us-lawmakers-unveil-sweeping-plan-to-expand-online-privacy-protections-as-meta-google-tiktok-face-in" rel="noreferrer noopener">adversary ties or face a U.S. ban.</a>
This decision put the onus on Cantwell, the chair of the Senate Commerce Committee, known for her tech knowledge but also criticized for her past stances on user privacy and social media.
In an interview with <a href="https://www.wsj.com/politics/policy/senator-cantwell-tiktok-bill-approach-9a8df0b1" target="_blank" rel="noreferrer noopener">The Wall Street Journal</a>, Cantwell laid out the questions she faces.
&#8220;Do we want a tool by which the United States can stop bad actors from broadcasting, if you will, into the United States with nefarious messages? And the answer is yes, we want that tool to exist,&#8221; she said. &#8220;And so now the question is: Is the House tool good enough, or do we need to make some changes to it?&#8221; 
TikTok&#8217;s Countdown: ByteDance Must Divest Within A Year
Cantwell recently backed the House&#8217;s latest version of a measure potentially resulting in a U.S. ban on the social media app, <a href="https://www.cbsnews.com/news/maria-cantwell-tiktok-ban-senate-updated-house-bill/">reported</a> CBS News.
TikTok owner&nbsp;ByteDance&nbsp;must divest its stake in the company within nine months or risk losing access to U.S. app stores and web-hosting services, with a potential three-month extension, CBS News added.
&#8220;I&#8217;m very happy that Speaker Johnson and House leaders incorporated my recommendation to extend the ByteDance divestment period from six months to a year,&#8221; Cantwell said in a statement. &#8220;As I&#8217;ve said, extending the divestment period is necessary to ensure there is enough time for a new buyer to get a deal done. I support the updated legislation.&#8221;
Cantwell has a diverse background in both politics and technology. She started in Indianapolis and later moved to Seattle to work on Democrat Alan Cranston&#8217;s 1984 presidential campaign, staying there even after his defeat, The Wall Street Journal added.
Nonetheless, concerns over the latest bill&#8217;s constitutionality have been raised by some lawmakers, indicating the possibility of additional issues arising. Included in the updated plan presented by Louisiana Republican Johnson earlier this week, the revised bill pairs the mandated TikTok divestment with new sanctions targeting Iran, China and Russia. 
The remaining bills in the plan allocate $26 billion to support Israel, $61 billion to strengthen Ukraine and $8 billion to counter China in the Indo-Pacific.
Read Next:<a href="https://www.benzinga.com/markets/equities/24/04/38331941/palantir-technologies-pitches-agencies-for-inventory-and-supply-chain-management-use-cases-whats" target="_blank" rel="noreferrer noopener">&nbsp;Palantir Technologies Pitches Agencies For Inventory And Supply Chain Management Use Cases &#8211; What&#8217;s Going On?</a>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo: Shutterstock

Equities

News

Markets

General

A Top Senator Is Spearheading The TikTok Crackdown As House Bill Gains Senate Momentum

Dogecoin killer Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>) has experienced a significant surge in its burn rate, <a href="https://www.benzinga.com/markets/cryptocurrency/24/03/37766119/whopping-33-8-million-shifted-to-robinhood-and-people-suspect-this-person-could-be-behind-">increasing by an impressive 172%.</a>
The&nbsp;surge coincides with a notable rebound in SHIB&#39;s market price, marking a promising turn for the dog-themed digital currency.
According to a&nbsp;post by Shibburn on X on Friday, the accelerated burn rate&nbsp;removed 5,221,667 SHIB tokens from circulation, effectively sending them to a &quot;dead&quot; wallet where they can no longer be traded or accessed.
In the past 24 hours, there have been a total of 5,221,667 <a href="https://twitter.com/search?q=%24SHIB&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SHIB</a> tokens burned and 6 transactions. Visit <a href="https://t.co/t0eRMnyZel">https://t.co/t0eRMnyZel</a> to view the overall total of <a href="https://twitter.com/hashtag/SHIB?src=hash&amp;ref_src=twsrc%5Etfw">#SHIB</a> tokens burned, circulating supply, and more. <a href="https://t.co/cAIOBDOiAC">pic.twitter.com/cAIOBDOiAC</a>
<blockquote class="twitter-tweet">&mdash; Shibburn (@shibburn) <a href="https://twitter.com/shibburn/status/1781171134441943489?ref_src=twsrc%5Etfw">April 19, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>This development follows a period of lackluster performance for SHIB, with its price struggling under broader market pressures.
However, the token has managed to recover, climbing from a low of $0.00001837 on April 13 to fluctuating within a range between $0.0000205 and $0.00002386.
Also Read:&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38238296/amid-dogecoin-crash-374-million-doge-moved-from-robinhood-to-unknown-wallet">Amid Dogecoin Crash, 374 Million DOGE Moved From Robinhood To Unknown Wallet</a>
At the time of writing, SHIB was trading at&nbsp;$0.00002317, up by 3% in the last 24 hours.&nbsp;
The Shiba Inu community is currently buzzing with excitement and anticipation as developers continue to introduce upgrades aimed at enhancing the Shiba Inu ecosystem.
Notably, the Shiba Inu layer 2 solution, Shibarium, has received a user interface update and expanded its wallet compatibility to include MetaMask, Coinbase Wallet, Rainbow, Trust Wallet&nbsp;and Wallet Connect, facilitating various user connection preferences.
Shibarium&#39;s website has also migrated to the shib.io domain, reflecting the team&#39;s commitment to prioritizing user experience and development speed.
Now Read:&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/03/37573802/forget-dogecoin-and-shiba-inu-this-meme-coin-has-surged-nearly-70-in-just-24-hours">Forget Dogecoin And Shiba Inu &mdash; This Meme Coin Has Surged Nearly 70% In Just 24 Hours</a>
Photo: Shutterstock

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

Cryptocurrency

$SHIB

Shiba Inu Army Cheers As Burn Rate Soars 172%, Price Rebounds

On Friday, the Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) network underwent its fourth halving since 2012, a pivotal event that halved the mining reward &mdash; the amount of <a href="https://www.benzinga.com/markets/cryptocurrency/24/01/36624790/crypto-analyst-foresees-upswing-in-bitcoins-value-before-major-plunge">Bitcoin awarded for validating transactions.</a>
This reduction from 900 to 450 Bitcoin per day is critical to prevent inflation and maintain Bitcoin&#39;s cap at 21 million tokens.
Occurring every four years, this halving aims to balance the creation of new tokens with the overarching goal of sustainability and value retention.
Despite Bitcoin&#39;s price stability around the $64,000 mark following the halving, the event has significantly impacted miners, potentially jeopardizing billions in annual revenue.
This challenge arises as the reward for mining efforts has been&nbsp;drastically reduced, although a continued rise in Bitcoin&#39;s price could mitigate these effects, <a href="https://www.bloomberg.com/news/articles/2024-04-20/bitcoin-halving-cuts-supply-of-new-tokens-in-threat-to-miners?sref=TBDibEcD">reported&nbsp;</a>Bloomberg.&nbsp;
The halving, anticipated by the market, had a minor immediate impact on Bitcoin&#39;s price but a dramatic increase in transaction fees, spiking over 730% to $250 before settling at $164.
The halving&#39;s intent, as envisioned by Bitcoin&#39;s pseudonymous creator Satoshi Nakamoto, is to counteract inflation, ensuring the digital currency remains a robust store of value.
Also Read:&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38346412/if-you-invested-1-000-in-bitcoin-during-the-may-2020-bitcoin-halving-heres-how-much-youd-h">If You Invested $1,000 In Bitcoin During The May 2020 Bitcoin Halving, Here&#39;s How Much You&#39;d Have Now</a>
Supporters of the original cryptocurrency, like MicroStrategy Inc. Chairman Michael Saylor, argue that it serves as a superior store of value compared to traditional fiat currencies, which they claim are more susceptible to inflation.
This concept resonates with advocates who view Bitcoin as a superior alternative to fiat currencies, particularly during heightened inflation.
Past halvings have sparked significant bull markets for Bitcoin, driven by a decreased supply of new tokens against rising demand, notably from new exchange-traded funds holding the digital asset.
Yet, this recent halving was largely expected, and analysts believe any possible price surges were already priced into the market.
The broader implications of the halving extend beyond immediate price effects, particularly for the mining sector. The update necessitates a strategic shift for mining companies facing reduced revenue amidst high operational costs. Analysts predict a potential consolidation within the industry, favoring publicly traded firms with better access to funding and advanced mining equipment.
The mining landscape may evolve further as Bitcoin approaches its cap, shifting the revenue model towards transaction fees.
The next halving, slated for 2028, will continue this trend of reward reduction, further testing Bitcoin miners&#39; resilience and adaptability to diminishing returns.
Now Read:&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/03/37574295/crypto-analyst-predicts-119-surge-in-bitcoin-citing-promise-of-spot-etf-and-upcoming-halvi">Crypto Analyst Predicts 119% Surge In Bitcoin, Citing Promise Of Spot ETF And Upcoming Halving: &#39;We&#39;ve Got More Visible Demand&#39;</a>
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

$BTC

Latest Bitcoin Halving Could Cost Miners Billions Of Dollars In Revenue: Report

Elon Musk publicly stated his opposition to a proposed TikTok ban in the U.S.,&nbsp;as&nbsp;another bill that targets the popular social media app&nbsp;<a href="https://www.benzinga.com/news/24/04/38153866/republican-leader-mitch-mcconnell-pushes-for-legislation-to-compel-chinese-divestment-of-tiktok-an-e">is up for consideration.</a>
Musk, the owner of&nbsp;X, said&nbsp;on his social media platform that banning TikTok would contradict the principles of free speech and expression, values that he believes the U.S. &quot;stands for.&quot;
&ldquo;In my opinion, TikTok should not be banned in the USA, even though such a ban may benefit the X platform,&rdquo;&nbsp;Musk wrote Friday.
&ldquo;Doing so would be contrary to freedom of speech and expression. It is not what America stands for.&rdquo;&nbsp;
<blockquote class="twitter-tweet">In my opinion, TikTok should not be banned in the USA, even though such a ban may benefit the &#120143; platform.
Doing so would be contrary to freedom of speech and expression. It is not what America stands for.
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1781387457193230338?ref_src=twsrc%5Etfw">April 19, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>The controversy comes&nbsp;as House Republicans introduce a national security bill that could ban TikTok in the U.S. unless its Chinese parent company, ByteDance, sells or&nbsp;dissociates itself from the Chinese Communist Party (CCP).
The latest&nbsp;bill, which also encompasses foreign aid packages for Israel and Ukraine, allows ByteDance a one-year timeframe to sever its ties with the CCP.
Despite bipartisan support for a similar bill last month, there was notable resistance in the Senate.
Also Read:&nbsp;<a href="https://www.benzinga.com/news/24/02/37301314/ivanka-trump-is-now-on-tiktok-even-though-her-father-tried-to-ban-it-in-the-us">Ivanka Trump Is Now On TikTok &mdash; Even Though Her Father Tried To Ban It In The US</a>
Senate Commerce Committee Chair Maria Cantwell (D-Wash.)&nbsp;expressed her support for the updated legislation, highlighting the extension of ByteDance&#39;s divestment period from six months to a year as a critical adjustment to facilitate a potential sale.
Musk&#39;s stance on the issue reflects his broader commitment to free speech, a principle he cites as a core reason behind his acquisition of Twitter, now rebranded as X.
His position adds a notable voice to the ongoing debate around TikTok&#39;s future in the U.S., balancing national security concerns with the ideals of free expression.
Now Read:&nbsp;<a href="https://www.benzinga.com/markets/asia/24/04/38187072/tiktok-parent-bytedances-profits-rise-60-year-over-year-as-company-grapples-with-potential-us-ban">TikTok Parent ByteDance&#39;s Profits Rise 60% Year-Over-Year As Company Grapples With Potential US Ban</a>
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo: Shutterstock

Social Media

Tech

Elon Musk Voices Opposition To Potential TikTok Ban: 'It Is Not What America Stands For'

The Doge community around the <a href="https://www.benzinga.com/markets/cryptocurrency/21/04/20697493/dogecoin-hits-420-milestone-as-doge-day-dawns-bitcoin-ethereum-lose-ground">world celebrate April 20 as Doge Day,</a> which coincides with &#8220;Weed Day.&#8221;
What Happened: Doge Day is an informal event celebrated annually by Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) fans. The day typically sees a surge in the price and trading volume of the crypto. This year, the event has come just after the Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) halving event, which reduces the supply of the apex crypto.
As cryptocurrencies have surged leading up to the halving event, the usual &#8220;sell the news&#8221; behavior has been observed in the market. Bitcoin last traded at $63,867.45, down 1.50% over the past 24 hours, according to <a href="https://benzinga.grsm.io/lxquj26b2sag">Benzinga Pro data.</a>
Doge, meanwhile, is seeing modest strength, as it has added 0.48% to $0.153275.
The dog-themed crypto was late to the crypto party during the recent uptrend and began to break out a broad trading range only in late February. It peaked at $0.226581 on March 28 and has since come off the level. Despite the upward bounce seen in the near term, the crypto is trading well off its all-time high.
After peaking at $0.737567 on May 8, 2021, Doge witnessed a downward move for about a year and consolidated mostly under $0.10 until early this year.
See Also: <a href="https://www.benzinga.com/how-to-buy-dogecoin-doge">How To Buy Dogecoin</a>
The Musk Connection: Musk, who was once very vocal about Doge and often talked up the meme coin with his comments, very rarely speaks about it now. Given his strong backing of the coin, he used to be known as the &#8220;Dogefather.&#8221;
On X, Musk reshared a post from a Dogecoin graphic designer, who said the day marked the first anniversary of the launch of Starship, a powerful launch vehicle developed by SpaceX capable of carrying up to 100 people on long-duration interplanetary flights. 
<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">4/20 First Starship Launch Anniversary Today <a href="https://t.co/g6GW9O9jHC">pic.twitter.com/g6GW9O9jHC</a>
&mdash; DogeDesigner (@cb_doge) <a href="https://twitter.com/cb_doge/status/1781618045309600235?ref_src=twsrc%5Etfw">April 20, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
<figcaption class="wp-element-caption">Why It&#8217;s Important: Crypto trader Yomi, however, shrugged off the day&#8217;s significance. Explaining why Doge had not taken off on Saturday, he said in a post on X, &#8220;Because the reality world doesn't care. Focus on the charts eliminate meaningless events and emotions and you will make money. The rest will fail.&#8221;</figcaption></figure>
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38317146/10-year-old-dogecoin-wallet-sold-5-million-doge-missed-out-on-millions-in-profit">10-Year-Old Dogecoin Wallet Sold 5 Million DOGE, Missed Out On Millions In Profit</a>
Photo: Shutterstock

Trading Ideas

$DOGE

Doge Day Has An Elon Musk Connection, Meme Coin Rebounds After The Bitcoin Halving 'Sell-The-News' Drop

This&nbsp;4/20 cannabis retailers anticipate <a href="https://www.benzinga.com/markets/cannabis/23/04/31898603/exclusive-bdsa-analyst-digs-into-new-cannabis-markets-behaviors-trends-social-bonds-on-420">record-breaking sales</a> fueled by last year&#39;s +130% spike and the fortunate alignment of this year&#39;s celebration falling on&nbsp;a Saturday.
As dispensaries gear up for the influx of customers, all eyes are on the leading brands and cannabis companies poised to dominate the market.
But, which cannabis companies are strategically positioned to capitalize on the anticipated surge in demand for cannabis products on 4/20? And, what brands are leading in sales across different product categories and states?
<h3>Brand Dominance In The East And Midwest</h3>
A sector analysis by <a href="https://www.benzinga.com/topic/pablo-zuanic">Pablo Zuanic </a>of Zuanic &amp; Associates sheds light on the evolving landscape of the cannabis industry, particularly in Eastern states. <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38282615/cannabis-brands-leading-market-expansion-in-east-midwest-a-look-at-prices-and-trend">Notable brands </a>like MariMed&#39;s Betty&rsquo;s Eddies (OTC: <a class="ticker" href="https://www.benzinga.com/stock/mrmd#OTC">MRMD</a>) and Cresco&#39;s High Supply (OTC: <a class="ticker" href="https://www.benzinga.com/stock/crlbf#OTC">CRLBF</a>) have emerged as frontrunners in key segments across Massachusetts,<a href="https://www.benzinga.com/analyst-ratings/analyst-color/23/07/33329222/the-maryland-effect-a-game-changer-for-the-east-coast-cannabis-industry"> Maryland</a>, and Michigan.
In <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/02/37041204/illinois-weed-scorecard-super-bowl-edition-market-leaders-store-surge-and-sales-ana">Illinois</a>, Cresco&#39;s High Supply leads the flower category with a 13.2% market share, showcasing a competitive market with diverse pricing strategies.
Massachusetts sees Ascend Wellness&#39;s Simply Herb (OTC: <a class="ticker" href="https://www.benzinga.com/stock/aawh#OTC">AAWH</a>) and Cresco&#39;s High Supply as leading brands in the flower segment, with a significant decrease in average retail prices observed across product formats.
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/02/37081838/fast-track-recap-colorado-michigan-weed-sales-decline-virginia-eyes-legal-market-st">Michigan&#39;s market</a> remains highly fragmented, with Red White &amp; Bloom Brands Inc. (OTC: <a class="ticker" href="https://www.benzinga.com/stock/rwbyf#OTC">RWBYF</a>), TerrAscend (OTC: <a class="ticker" href="https://www.benzinga.com/stock/trssf#OTC">TRSSF</a>), 4Front (OTC: <a class="ticker" href="https://www.benzinga.com/stock/ffntf#OTC">FFNTF</a>), Cresco&#39;s High Supply&nbsp;and Ascend Wellness&#39;s Ozone emerging as top contenders in the flower category.
<h3>California&#39;s Retail Landscape</h3>
In California, despite facing a decline in cannabis sales, several brands and companies continue to dominate the market. Gold Flora (OTC: <a class="ticker" href="https://www.benzinga.com/stock/gram#OTC">GRAM</a>) and Glasshouse (OTC: <a class="ticker" href="https://www.benzinga.com/stock/ghbwf#OTC">GHBWF</a>) have been recognized for their significant <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/03/37971495/californias-weed-sales-decline-market-ripe-for-consolidation-biggest-companies-like">market shares and financial performance</a>. Additionally, StateHouse (OTC: <a class="ticker" href="https://www.benzinga.com/stock/sthzf#OTC">STHZF</a>) remains a key player, navigating through the challenging market dynamics to maintain its presence and market share.
<h3>Nevada&#39;s Cannabis Scene: Key Brands And Companies</h3>
Nevada&#39;s cannabis market presents a dynamic landscape with a mix of established brands and emerging players. Leading brands such as STIIIZY, Alternative Medicine, WYLD &amp; Shine (by Green Thumb (OTC: <a class="ticker" href="https://www.benzinga.com/stock/gtbif#OTC">GTBIF</a>))&nbsp;and CAMP (by The Source) have solidified their positions in the <a href="https://www.benzinga.com/partner/biotech/24/04/38267704/theriva-biologics-hits-several-milestones-in-2023-positioning-itself-for-growth-as-the-firm-targe">market</a>.
Public multi-state operators (MSOs) like AYR Wellness (OTC: <a class="ticker" href="https://www.benzinga.com/stock/ayrwf#OTC">AYRWF</a>), Curaleaf Holdings (OTC: <a class="ticker" href="https://www.benzinga.com/stock/curlf#OTC">CURLF</a>), Green Thumb Industries, Planet 13 Holdings (OTC: <a class="ticker" href="https://www.benzinga.com/stock/plnhf#OTC">PLNHF</a>), iAnthus (OTC: <a class="ticker" href="https://www.benzinga.com/stock/ithuf#OTC">ITHUF</a>) and Verano (OTC: <a class="ticker" href="https://www.benzinga.com/stock/vrnof#OTC">VRNOF</a>) are actively shaping Nevada&#39;s competitive environment.
<h3>Florida&#39;s Cannabis Industry: Main Players And Brands</h3>
Florida&#39;s burgeoning cannabis industry is marked by <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/01/36745790/2024-oscars-of-marijuana-equity-analyst-nominations-spotlight-key-state-performers">diverse MSO performance</a>. Key players including Trulieve (OTC: <a class="ticker" href="https://www.benzinga.com/stock/tcnnf#OTC">TCNNF</a>), Verano&nbsp;and AYR are capitalizing on the state&#39;s growing market.
With Trulieve leading with the highest number of stores, followed closely by Verano, the competition among MSOs intensifies as they seek to capture market share and establish dominance in this lucrative market.
<h3>New York&#39;s Emerging Market: Companies And Brands</h3>
New York&#39;s cannabis market is on the brink of significant expansion, presenting opportunities for established players and newcomers alike.
With the potential for over 1,000 recreational stores to open MSOs&nbsp;are <a href="https://www.benzinga.com/analyst-ratings/analyst-color/23/12/36250035/a-2024-investor-guide-to-new-yorks-cannabis-market-expansion-the-mso-wealth-roadmap">strategically positioning themselves to capitalize on this growth</a>.
companies like Curaleaf, The Cannabist Company Holdings Inc. (OTC: <a class="ticker" href="https://www.benzinga.com/stock/cbstf#OTC">CBSTF</a>) (formerly Columbia Care), Goodness Growth (OTC: <a class="ticker" href="https://www.benzinga.com/stock/gdnsf#OTC">GDNSF</a>) MedMen (OTC: <a class="ticker" href="https://www.benzinga.com/stock/mmnff#OTC">MMNFF</a>) and Green Thumb Industries (OTC: <a class="ticker" href="https://www.benzinga.com/stock/gtbif#OTC">GTBIF</a>) are poised to lead the charge in this evolving market.
<h3>Pre-Roll Market Insights</h3>
The <a href="https://www.benzinga.com/analyst-ratings/analyst-color/23/05/32286591/exclusive-why-infused-pre-rolls-are-the-next-big-thing-in-the-cannabis-industry-say">pre-roll segment exhibits distinct characteristics</a> across Eastern states, with brands like Dogwalkers and Happy Valley commanding significant market shares in Illinois and Massachusetts, respectively.
As the cannabis industry braces for another 4/20 frenzy, the competition among leading brands and cannabis companies intensifies, promising both challenges and opportunities in a rapidly evolving market landscape. Stay tuned as retailers gear up for what could be one of the most lucrative 4/20 celebrations yet.
Photo: AI-Generated Image.&nbsp;

Analyst Color

Cannabis

Penny Stocks

Guidance

Emerging Markets

Entrepreneurship

Retail Sales

Small Cap

Management

Events

Market-Moving Exclusives

Analyst Ratings

AAWH

AYRWF

THE CANNABIST CO HLDG by THE CANNABIST COMPANY HOLDINGS INC.

CBSTF

CRLBF

CURALEAF HLDGS INC by Curaleaf Hldgs Inc.

CURLF

FFNTF

GDNSF

GHBWF

GRAM

GTBIF

ITHUF

MMNFF

MRMD

PLNHF

RWBYF

STEEL AND TUBE HLDGS LTD by Steel and Tube Holdings Ltd

STHZF

TCNNF

TRSSF

VRNOF

4/20 Cannabis Retail Frenzy: Leading Brands Ready For Record Sales Surge - Who Will Lead?

Benzinga examined the prospects for<a href="http://www.benzinga.com/trading-ideas"> many investors&#8217; favorite stocks</a> over the last week — here&#8217;s a look at some of our top stories.
Bears ruled Wall Street this week as the S&amp;P 500 endured its worst weekly drop since March 2023, falling over 3% due to rising fears around inflation and monetary policy. The Nasdaq Composite also suffered, dropping 5.5%, its worst week since November 2022 and its fourth consecutive down week, making it the longest losing streak since December 2022.
Meanwhile, Federal Reserve Chair Jerome Powell dismissed any <a href="https://www.benzinga.com/news/large-cap/24/04/38342737/nasdaq-100-notches-worst-day-since-late-2023-worst-week-since-late-2022-as-ai-driven-chipmakers-tu">immediate interest rate cuts</a>, citing slow disinflation, while escalating geopolitical risks further dampened the outlook for tech stocks. Despite these challenges, the Dow managed a marginal gain of 0.01%, marking its first positive week in the last three.
Benzinga provides daily reports on the stocks most popular with investors. Here are a few of this past week&#8217;s most bullish and bearish posts that are worth another look.
<h3 class="wp-block-heading">The Bulls</h3>
<a href="https://www.benzinga.com/markets/cannabis/24/04/38297096/canopy-growth-ceo-at-benzinga-conference-i-dont-think-our-investors-understand-the-value-that-si">&#8220;Canopy Growth CEO At Benzinga Conference: &#8216;I Don&#8217;t Think Our Investors Understand The Value That Sits Inside Of Canopy'&#8221;</a> by <a href="https://www.benzinga.com/author/adam-eckert">Adam Eckert</a>, reports on CEO David Klein&#8216;s statement at the Benzinga Cannabis Capital Conference, asserting that Canopy Growth Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CGC#NASDAQ">CGC</a>) is undervalued by investors, especially regarding its acquisitions like Wana and its new strategic direction under Canopy USA.
<a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38255536/dogecoin-down-25-in-past-week-but-if-you-get-a-chance-to-buy-it-in-the-high-0-10s-buy-it-s">&#8220;Dogecoin Down 25% In Past Week, But &#8216;If You Get A Chance To Buy It In The High $0.10s, Buy It,&#8217; Says Trader&#8221;</a> by <a href="https://www.benzinga.com/author/khyathi-dalal">Khyathi Dalal</a>, explores how, despite Dogecoin&#8217;s (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) 25% plunge, market influencers remain bullish, advocating for purchases during dips as they predict potential price recoveries and a strong altcoin market ahead.
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38273179/draftkings-stock-has-upside-to-street-estimates-analyst-says-sports-betting-play-wi">&#8220;DraftKings Stock Has Upside To Street Estimates, Analyst Says: Sports Betting Play Will &#8216;Benefit From Healthy Growth'&#8221;</a> by <a href="https://www.benzinga.com/author/chris-katje">Chris Katje</a>,&nbsp;describes a Goldman Sachs analyst&#8217;s optimistic outlook on DraftKings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DKNG#NASDAQ">DKNG</a>), projecting strong revenue growth and improved profitability due to expanding markets and enhanced unit economics.
For additional bullish calls of the past week, check out the following:
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38320141/rivian-best-positioned-ev-oem-analyst-praises-long-term-outlook-r2-launch-with-shor">Rivian &#8216;Best Positioned EV OEM&#8217;: Analyst Praises Long-Term Outlook, R2 Launch, With Short-Term Caution</a>
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38314733/teslas-autonomous-driving-efforts-win-praise-from-goldman-sachs-wall-street-firm-pr">Tesla&#8217;s Autonomous Driving Efforts Win Praise From Goldman Sachs: Wall Street Firm Projects Long-Term Growth From Robotaxi Services</a>
<a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38341469/happy-bitcoin-halving-day-what-experts-predict-happens-next">Happy Bitcoin Halving Day: What Experts Predict Happens Next</a>
The Bears
<a href="https://www.benzinga.com/news/24/04/38285714/no-more-inventory-discounts-on-tesla-cars-as-ceo-elon-musk-says-sales-system-has-turned-complex-and">&#8220;No More Inventory Discounts On Tesla Cars As CEO Elon Musk Says Sales System Has Turned &#8216;Complex And Inefficient'&#8221;</a> by <a href="https://www.benzinga.com/author/anan-ashraf">Anan Ashraf</a>, explains Elon Musk&#8216;s decision to discontinue Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) inventory discounts due to inefficiencies and complexities in the sales process.
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38295633/real-estate-stocks-fall-as-mortgage-rates-rise-to-4-month-highs-inflation-is-provin">&#8220;Real Estate Stocks Fall As Mortgage Rates Rise To 4-Month Highs: &#8216;Inflation Is Proving Tougher To Bring Down'&#8221;</a> by <a href="https://www.benzinga.com/author/piero-cingari">Piero Cingari</a>, describes the drop in real estate stocks like Prologis, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLD#NYSE">PLD</a>) and EastGroup Properties, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EGP#NYSE">EGP</a>), driven by rising mortgage rates and a pessimistic outlook for housing starts and affordability.
<a href="https://www.benzinga.com/government/24/04/38254776/broadcom-succumbs-to-eu-antitrust-investigation-over-vmware-licensing-prompting-swift-pricing-strate">&#8220;Broadcom Succumbs to EU Antitrust Investigation Over VMware Licensing, Prompting Swift Pricing Strategy Revision&#8221;</a> by <a href="https://www.benzinga.com/author/anusuya-lahiri-0">Anusuya Lahiri</a>, reports that Broadcom Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>) is adjusting VMware&#8217;s pricing in response to an EU antitrust investigation spurred by complaints about unfair licensing practices.
For more bearish takes, be sure to see these posts:
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38303079/most-s-p-500-stocks-no-longer-trade-above-50-day-average-healthy-pullback-or-is-the">Most S&amp;P 500 Stocks No Longer Trade Above 50-Day Average: Healthy Pullback Or Is The Bull Market Over?</a>
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38319509/treasury-yields-head-to-danger-zone-analyst-forecasts-potential-spike-to-5-disorder">Treasury Yields Head To &#8216;Danger Zone&#8217;: Analyst Forecasts Potential Spike To 5%, Disorderly Sell-Off For Markets</a>
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38265256/peter-schiff-challenges-bitcoins-100k-prediction-as-crypto-linked-stocks-languish-i">Peter Schiff Challenges Bitcoin&#8217;s $100K Prediction As Crypto-Linked Stocks Languish In Bear Zone: &#8216;Sell Your Fool&#8217;s Gold And Buy The Real Thing&#8217;</a>
Keep up with all the latest breaking news and trading ideas by following<a href="https://twitter.com/Benzinga"> Benzinga</a><a href="http://twitter.com/Benzinga"> on Twitter</a>.
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image generated using artificial intelligence via Midjourney.

Long Ideas

Short Ideas

Real Estate

AAPL

AVGO

DKNG

iShares Trust Barclays 20+ Year Treasury Bond Fund

TSLA

UTEN

Benzinga Bulls And Bears: Tesla, DraftKings, Broadcom And Trader Says Buy Dogecoin In High 10 Cents If You Get A Chance

Most electric vehicle stocks <a href="https://www.benzinga.com/news/large-cap/24/04/38342737/nasdaq-100-notches-worst-day-since-late-2023-worst-week-since-late-2022-as-ai-driven-chipmakers-tu">retreated along with the broader market</a> in the week that ended on April 19, with company-specific developments also weighing down on stocks. It was a week to forget for Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), as the stock settled at the lowest level since January 2023.
Here are the key events that happened in the EV space during the week:
Tesla Job Cuts, Estimate Re-Ratings And More: Tesla opted to right-size operations amid its fundamental travails. An email from CEO Elon Musk shared by media said the company let go 10% of its global workforce, amounting to about 14,000 employees. Musk justified the move by stating on X, &#8220;Every half decade or so, Tesla has to undergo a complete organizational overhaul to reach the next level.&#8221;
Notable among the eliminations were SVP of Powertrain and Energy Engineering Andrew Baglino and Vice President of Public Policy and Business Development Rohan Patel. An Information report said, with the eliminations, Musk has now a tight grip over the company, with at least 35 key personnel reporting directly to him. An organizational behavior professor at Stanford said this is &#8220;a recipe for CEO overload and being a bottleneck.&#8221;
The week also saw several sell-side analysts bringing down their price targets and estimates, just ahead of the first-quarter earnings date. Their main worry is that the company may confirm rumors that it has shifted focus away from producing sub-$30K electric vehicles to concentrate on refining full self-driving technology and robotaxi services.
To make matters worse, late Friday, <a href="https://www.benzinga.com/markets/equities/24/04/38345362/tesla-slashes-model-s-x-and-y-prices-in-us-by-2-000-in-late-friday-move-as-volume-growth-turns-n">the company announced $2,000 price reductions for all trims of its Model S,X and Y EVs.</a> The electric vehicle manufacturer has continued its price-cutting strategy, though it hasn&#8217;t significantly boosted sales volume.
Musk also confirmed that he won&#8217;t be visiting India early next week, citing &#8220;very heavy Tesla obligations.&#8221; &#8220;But I do very much look forward to visiting later this year,&#8221; he said.
See Also: <a href="https://www.benzinga.com/money/best-electric-vehicle-stocks">Best Electric Vehicle Stocks</a>
Rivian Announces More Job Cuts: Close on the heels of Tesla&#8217;s job cuts, Rivian Automotive, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>) reportedly <a href="https://www.benzinga.com/news/24/04/38307316/after-teslas-cost-cutting-rivian-trims-workforce-again-this-year-amid-profitability-push">cut 1% of its workforce amid the industry-wide slowdown. </a>While Rivian's previous cut in February impacted product teams and those working on the company's commercial EVs, the latest round of workforce slashing will most likely impact its support and back-office workers, Bloomberg reported.
This week, Needham analyst Chris Pierce also lowered the price target for Rivian&#8217;s shares from $18 to $13, while maintaining a &#8220;Buy&#8221; rating. The reduction in the price target was to account for a tough EV demand environment even as the firm is optimistic about the long-term fundamentals for the company.
Canoo Initiated At Buy: Benchmark initiated coverage on Canoo, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOEV#NASDAQ">GOEV</a>) with a &#8220;Buy&#8221; rating and a price target of $5 per share. Analysts at the firm premised their bullish recommendation on the company&#8217;s successful management overhaul and its targeted approach to the commercial fleet market. 
Lucid Showcases 2024 Air Grand Touring: Premium EV maker Lucid Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LCID#NASDAQ">LCID</a>) announced this week details about the 2024 Lucid Air Grand Touring, including an array of enhancements. The company said the vehicle has an EPA-estimated range of 516 miles, the longest range of any EV in the U.S. market currently. The 2024 Lucid Air Grand Touring has a starting price of $109,900.
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="http://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Fisker Announces New Dealer Partnership: Beleaguered EV startup Fisker, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FSR#NYSE">FSR</a>), which is teetering on the brink of bankruptcy, said it signed Fisker Miami as a dealer partner, its second in Florida after Fisker Jacksonville. The company announced a strategic shift to the &#8220;Dealer-Partnership&#8221; model in January 2024. Fisker also said it signed dealer partners in Hilleord, Denmark, and Innsbruck, Austria, bringing its European total to 12 dealer partners. 
The KraneShares Electric Vehicles and Future Mobility&nbsp;Index ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KARS#NYSE">KARS</a>) ended Friday&#8217;s session down 1.96% at $21.04, according to <a href="https://benzinga.grsm.io/lxquj26b2sag">Benzinga Pro data.</a> For the week, the ETF fell 2.46%.
Read Next: <a href="https://www.benzinga.com/markets/equities/24/04/38332930/management-expert-warns-elon-musk-faces-ceo-overload-after-tesla-layoffs-reportedly-leave-him-ov">Management Expert Warns Elon Musk Faces &#8216;CEO Overload&#8217; After Tesla Layoffs Reportedly Leave Him Overseeing 35 Key Personnel</a>
EV Stock Performances For Week:
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td></td>
<td>Performances (+/-)</td>
</tr>
<tr>
<td>Tesla</td>
<td>-14.03%</td>
</tr>
<tr>
<td>Nio, Inc.(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NIO#NYSE">NIO</a>)</td>
<td>-7.54%</td>
</tr>
<tr>
<td>XPeng, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPEV#NYSE">XPEV</a>)</td>
<td>-7.11%</td>
</tr>
<tr>
<td>Li Auto, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LI#NASDAQ">LI</a>)</td>
<td>-10.24%</td>
</tr>
<tr>
<td>Fisker</td>
<td>+92.67%</td>
</tr>
<tr>
<td>Workhorse Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WKHS#NASDAQ">WKHS</a>)</td>
<td>+17.28%</td>
</tr>
<tr>
<td>Hyzon Motors, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HYZN#NASDAQ">HYZN</a>)</td>
<td>-7.39%</td>
</tr>
<tr>
<td>Canoo</td>
<td>+18.75%</td>
</tr>
<tr>
<td>Rivian </td>
<td>-5.48%</td>
</tr>
<tr>
<td>Lucid Group</td>
<td>-1.61%</td>
</tr>
<tr>
<td>Faraday Future Intelligent Electric, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FFIE#NASDAQ">FFIE</a>)</td>
<td>-26.23%</td>
</tr>
<tr>
<td>Nikola Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NKLA#NASDAQ">NKLA</a>)</td>
<td>-8.01%</td>
</tr>
<tr>
<td>VinFast Auto Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VFS#NASDAQ">VFS</a>)</td>
<td>-30.00%</td>
</tr>
</tbody>
</table>
</figure>
Photo: Shutterstock

FFIE

GOEV

HYZN

KARS

LCID

NKLA

RIVN

WKHS

XPEV

Tesla's Horror Week Ends With Another Price Cut, Rivian's Second Round Of Layoffs, Lucid Touts Longest-Range Domestic EV And More: Biggest EV Stories Of The Week

Leading cryptocurrency Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) has had an eventful 2024 year with the approval of <a href="https://www.benzinga.com/markets/cryptocurrency/24/01/36514679/wall-street-enters-the-crypto-age-sec-issues-historic-approval-of-spot-bitcoin-etfs">Bitcoin ETFs in January.</a>
Another exciting catalyst for Bitcoin is the latest Bitcoin halving, which happened last night.
Here&#8217;s a look at what this means and how investors have profited.
What Happened: A Bitcoin halving <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38341469/happy-bitcoin-halving-day-what-experts-predict-happens-next">occurs every 210,000 blocks</a>, which happens roughly every four years. The block rewards get halved as soon as the 210,000th block is mined.
A Bitcoin halving is a method put in place for the cryptocurrency to help enforce synthetic price inflation until all Bitcoin has been mined and released. Theoretically, the Bitcoin halvings that occur should make it more expensive to create new Bitcoins and make the cryptocurrency more valuable.
Bitcoin operates differently from fiat currencies like the U.S. dollar in this respect. While fiat currencies typically lose purchasing power over time, Bitcoin tends to increase in value rather than depreciate.
The first Bitcoin halving happened on Nov. 28, 2012, with the block reward reduced from 50 Bitcoin to 25 Bitcoin.
The second Bitcoin halving happened on July 9, 2016, with the block reward reduced from 25 Bitcoin to 12.5 Bitcoin. &nbsp;
The third Bitcoin halving happened on May 11, 2020, with the block reward reduced from 12.5 Bitcoin to 6.25 Bitcoin.
A Bitcoin halving can make the cryptocurrency increasingly volatile but often leads to surges in the price. Bitcoin went from $12 to $1,217 in one year after the first halving.
Here&#8217;s a look back at how much the cryptocurrency was up prior to last night&#8217;s halving.
Related Link: <a href="https://www.benzinga.com/markets/cryptocurrency/24/03/37498047/exclusive-bitcoin-hits-new-all-time-high-heres-when-benzinga-readers-think-100k-milestone-">EXCLUSIVE: Bitcoin Hits New All-Time High: Here&#8217;s When Benzinga Readers Think $100K Milestone Could Be Reached</a>
Investing $1,000 in Bitcoin: Before last night, the last halving date for Bitcoin was on May 11, 2020. Bitcoin traded between $8,374.32 and $9,033.47 that day.
A $1,000 investment could have purchased 0.1107 BTC based on the highest price on that date.
The $1,000 investment would be worth $7,077.75 today, based on a price of $63,936.35 for Bitcoin at the time of writing. This represents a gain of 607.8% since the Bitcoin halving three-and-a-half years ago.
For comparison, the&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), which tracks the S&amp;P 500 stock market index, is up 169.3% over the same time period, based on a closing price of $292.50 on May 11, 2020.
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/03/37925264/heres-how-much-100-in-bitcoin-could-be-worth-in-2030-if-cathie-woods-new-price-target-is-r">Here&#8217;s How Much $100 In Bitcoin Could Be Worth In 2030 If Cathie Wood&#8217;s New Price Target Is Reached</a>
This article was previously published by Benzinga and has been updated.
Photo: Shutterstock

Education

If You Invested $1,000 In Bitcoin During The May 2020 Bitcoin Halving, Here's How Much You'd Have Now

Willie Nelson, Snoop Dogg and Martha Stewart are teaming up once again in partnership with Bic to promote its EZ Reach lighter and to celebrate this year's 4/20 cannabis holiday.
Launching precisely at 4:20 pm on 4/20, the event, titled the &#8220;Slow Burn Sessions,&#8221; will feature the trio for 4 hours and 20 minutes of exclusive content on <a href="https://www.youtube.com/@bicbrand">Bic&#8217;s YouTube channel</a> all weekend, giving viewers a chance to unwind with three mood-setting segments, with each representing each celeb and with its own flare. 
"Think along the lines of the holiday yule log you put on during that time of year, but for 4/20 and with Martha, Willie and Snoop," <a href="https://www.whiskeyriff.com/2024/04/17/willie-nelson-snoop-dogg-and-martha-stewart-hosting-slow-burn-sessions-to-celebrate-4-20/">according to</a> Whiskey Riff.
Each of the three sessions includes footage of Snoop, Stewart and Nelson showing their favorite ways to light up. Spoiler alert: Snoop lights his favorite bowl of candles, Stewart heats up her fondue pot and Willie sparks his favorite herb-scented candle.
"It's been so fun to partner with my good friends at Bic to spread some holiday cheer ahead of 420. The Bic EZ Reach lighter is my tried-and-true pot accessory — fondue pot that is," Martha Stewart said a statement shared with The Drum.
It's like a smoke sesh that never ends, noted The Drum, "or at least until the munchies kick in."
Willie said it will obviously be a very chill time. "Spend your holiday weekend with me and my friends while we host our own Slow Burn Session with BIC this 420. It'll be a very chill time."
Take a little peek here on YouTube.
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
<div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="Get Lit with Snoop Dogg" width="500" height="281" src="https://www.youtube.com/embed/QK-nRezdttI?start=14&#038;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>
<h2 class="wp-block-heading">Why Bic?</h2>
Jeany Mui, the marketing director for Bic Flame for Life, called it an honor to have this iconic trio back together again for 4/20.
"Slow Burn Sessions are the ultimate way to kick back and relax with friends on 420 weekend and we're excited to bring together our favorite lighter-loving trio as the hosts,&#8221; Mui said. &#8220;EZ Reach Lighters are the go-to accessory for everyone gathering to celebrate the 420 holiday."
The legendary trio are no strangers to Bic's 420-friendly marketing campaigns. In honor of 4/20 in 2023, the lighter and pen manufacturer <a href="https://www.thedrum.com/news/2023/04/20/us-ad-the-day-snoop-willie-nelson-martha-stewart-light-up-america-420-bic">released a star-studded campaign</a> called "Bic Lights up America."
Photo courtesy of Bic

Entertainment

Snoop Dogg, Willie Nelson And Martha Stewart Light Up On 4/20 With Bic's 'Slow Burn Sessions' — Here's How To Join Them

Chinese state-sponsored hackers are orchestrating advanced attacks that could &#8220;wreak havoc&#8221; on <a href="https://www.benzinga.com/topic/infrastructure">critical U.S. infrastructure</a>, Federal Bureau of Investigations (FBI) director Christopher Wray said. 
&#8220;Everything from water-treatment facilities and energy grids to transportation and information technology — form the backbone of our society,&#8221; he <a href="https://www.fbi.gov/news/speeches/director-wrays-remarks-at-the-vanderbilt-summit-on-modern-conflict-and-emerging-threats">told</a> attendees at Thursday&#8217;s Summit on Modern Conflict in Nashville. 
What happens if those things are attacked? Wray warned that such a scenario could occur at any time. 
&#8220;China is positioning its enormous hacking enterprise — remember, 50 to 1 — for more than &#8216;just&#8217; the outrageous theft campaign,&#8221; he added. &#8220;It's using that mass, those numbers, to give itself the ability to physically wreak havoc on our critical infrastructure at a time of its choosing.&#8221;
Wray called on private companies to bring &#8220;vigilance to the table&#8221; and play &#8220;a central defensive role to generate vital information about what adversaries are doing — or preparing to do — against us.&#8221;
<h3 class="wp-block-heading">3 OT Startups To Watch </h3>
According to Wedbush analyst Taz Koujalgi, Wray&#8217;s comments &#8220;are not alarmist at all.&#8221; They underscore the growing importance of OT (operational technology) specialists. 
Three firms come to mind:
<ul>
<li>Dragos Inc. is &#8220;one of the leading pioneers in the OT sector,&#8221; Koujalgi told Benzinga. The Hanover, Maryland-based company has, so far, collected about $440 million in venture capital. </li>
<li>New York-based Claroty, which has raised over $635 million in funding to date, <a href="https://claroty.com/press-releases/claroty-secures-usd100-million-in-strategic-growth-financing">secured</a> another $100 million in backing last month. </li>
<li>And San Francisco-based Nozomi Networks also <a href="https://www.nozominetworks.com/press-release/nozomi-networks-secures-100-million-investment-to-accelerate-critical-infrastructure-defense">clinched</a> $100 million in new funding last month, totaling more than $260 million.</li>
</ul>
Most &#8220;security spend&#8221; happens today in the traditional IT infrastructure space, Koujalgi said. &#8220;But real infrastructure — your pipelines, electrical grids and water treatment plants — is fairly behind in investment and security spend.&#8221; 
And sourcing capital in the OT sub-sector is especially tough considering venture support is <a href="https://www.spglobal.com/marketintelligence/en/news-insights/latest-news-headlines/global-venture-capital-investment-value-volume-down-in-q1-2024-81180407">down</a> across the board.
Another challenge: These types of infrastructure attacks are &#8220;fairly new&#8221; and &#8220;fast-moving.&#8221;
New software is being written every day, and code from five years ago is in danger of being obsolete as bad actors routinely find holes in that software, Koujalgi explained.
Basically, &#8220;it&#8217;s hard to keep pace with the bad guys.&#8221; 
See Also: <a href="https://www.benzinga.com/news/24/04/38307336/russian-online-influence-resurgence-poses-threat-to-us-election-star-blizzard-hacking-activity-escal">Russian Online Influence Resurgence Poses Threat To US Election — Star Blizzard Hacking Activity Escalates, Warns Microsoft</a>
<h3 class="wp-block-heading">Who Are The Bad Guys? </h3>
Recall how, in 2023, security analysts at Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) and Western intelligence agencies uncovered how a state-sponsored Chinese hacking group known as &#8220;Volt Typhoon&#8221; was spying on <a href="https://www.benzinga.com/government/23/05/32573948/microsoft-blames-chinese-hackers-for-spying-on-critical-american-infrastructure-and-guam">various U.S.&nbsp;critical infrastructure organizations.</a>
China and the U.S. routinely spy on each other. But analysts say this incident was one of the most extensive Chinese cyber-espionage campaigns against American critical infrastructure. 
China <a href="https://www.scmp.com/video/china/3256907/china-denies-accusations-state-sponsored-hacking-us-uk-and-new-zealand" target="_blank" rel="noreferrer noopener">dismissed</a> cyberattack allegations in March as &#8220;pure political maneuvering.&#8221; 
Lin Jian of the Chinese Foreign Ministry urged the U.S. to end &#8220;their own <a href="https://www.benzinga.com/government/22/09/28959768/china-claims-us-took-control-of-telecom-network-post-space-research-university-hack">cyber aggression against China</a>.&nbsp;"
But, as Wray told it, Volt Typhoon has &#8220;persistent PRC access &#8230; They were hiding inside our networks, using tactics known as &#8216;living-off-the-land&#8217; — essentially, exploiting built-in tools that already exist on victim networks to get their sinister job done, tools that network defenders expect to see in use and so don't raise suspicions — while they also operated botnets to further conceal their malicious activity and the fact that it was coming from China. All this, with the goal of giving the Chinese government the ability to wait for just the right moment to deal a devastating blow.&#8221;
And it&#8217;s not just China. There was also a group of hackers called DarkSide that, in 2021, was blamed for the cyberattack on Colonial Pipeline, which led <a href="https://www.benzinga.com/news/21/05/21026280/colonial-pipeline-hackers-stole-data-on-thursday-ahead-of-shutdown-bloomberg">to a complete shutdown</a>.
That same year, a cyberattack on the heavily guarded Natanz plant in Iran took place. The disruption reportedly set back Tehran&#8217;s nuclear program by nine months. Neither the U.S. nor Israel acknowledged involvement in what was believed to be a sabotage campaign.
ETFs To Consider: Here are five cybersecurity exchange-traded funds (ETFs) to note:
<ul>
<li>Amplify ETF Trust Amplify Cybersecurity ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HACK#NYSE">HACK</a>)</li>
<li>First Trust NASDAQ Cybersecurity ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CIBR#NASDAQ">CIBR</a>) </li>
<li>iShares Cybersecurity and Tech ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IHAK#NYSE">IHAK</a>)</li>
<li>WisdomTree Cybersecurity Fund (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WCBR#NASDAQ">WCBR</a>)</li>
<li>Global X Cybersecurity ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BUG#NASDAQ">BUG</a>)</li>
</ul>
Now Read: <a href="https://www.benzinga.com/news/24/04/38214476/russian-government-linked-hackers-stole-federal-email-correspondence-with-microsoft-cisa">Russian Government-Linked Hackers Stole Federal Email Correspondence With Microsoft &#8211; CISA</a>
Image: Pixabay

Asia

Global

CIBR

HACK

IHAK

MSFT

WCBR

Chinese Hackers May Control Your Water And Are Laying in Wait, FBI Warns — 3 Startups To Watch

Weekends are perfect for diving into the world of television and catching up on some great shows. Whether you&#8217;re into suspense, drama, or some light-hearted comedy, the streaming world is bringing a delightful mix to your screens this weekend.
Here's a curated list of top shows you can start watching now. Get your popcorn ready!
See Also: <a href="https://www.benzinga.com/general/entertainment/24/04/38203940/remember-crystal-pepsi-here-are-10-weird-flavors-of-the-coca-cola-rival-from-around-the-wor">Remember Crystal Pepsi? Here are 10 Weird Flavors Of Coke Rival From Around The World</a>
<h4 class="wp-block-heading">Rebel Moon: Part Two – The Scargiver – Netflix</h4>
<figure class="wp-block-image size-large"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/19111354/Rebel-Moon-Part-Two-%E2%80%93-The-Scargiver-1024x576.jpg" alt="" class="wp-image-300274" /><figcaption class="wp-element-caption">Rebel Moon: Part Two – The Scargiver &#x7C; Source: Netflix</figcaption></figure>
Brace yourselves, sci-fi fans! Zack Snyder&#8216;s epic saga, Rebel Moon, returns with Part Two: The Scargiver, available now after December&#8217;s Part One: A Child of Fire. Kora (Sofia Boutella) and the surviving rebels rise again, ready to face the tyrannical Motherworld and protect their adopted home.
Djimon Hounsou, Ed Skrein, and a star-studded cast reunite for this action-packed conclusion.
<h4 class="wp-block-heading">Fallout (Season 1) – Prime Video</h4>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="576" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/19111424/Fallout-Season-1-1024x576.jpg" alt="" class="wp-image-300276" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/19111424/Fallout-Season-1-1024x576.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/19111424/Fallout-Season-1-300x169.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/19111424/Fallout-Season-1-768x432.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/19111424/Fallout-Season-1-1536x864.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/19111424/Fallout-Season-1.jpg 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Fallout (Season 1) &#x7C; Source: Prime Video</figcaption></figure>
Wasteland warriors, assemble! The iconic Fallout franchise blasts onto your screens this week on Prime Video. Encounter familiar faces from the games, including the legendary Dogmeat! Vault dwellers, ghouls, and the Brotherhood of Steel all come to life in this epic tale of survival in a post-nuclear world.
Starring Walton Goggins, Aaron Moten, and Ella Purnell, don&#8217;t miss Fallout&#8217;s explosive premiere!
<h4 class="wp-block-heading">Feud: Capote Vs. The Swans – Disney+</h4>
<figure class="wp-block-image size-large"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/19111444/Feud-Capote-Vs.-The-Swans-%E2%80%93-Disney-1024x576.jpg" alt="" class="wp-image-300277" /><figcaption class="wp-element-caption">Feud: Capote Vs. The Swans &#x7C; Source: Disney+</figcaption></figure>
Glitter and betrayal collide in Feud&#8217;s glamorous second season, now streaming on Hulu. Dive into the opulent world of 1950s and 60s New York socialites. When Truman Capote (Tom Hollander), a writer with a taste for gossip, exposes their secrets in a tell-all novel, these powerful women plot their revenge.
Get ready for a high-stakes battle of wits and social sabotage, featuring a cast of Hollywood royalty including Naomi Watts, Chloë Sevigny, Diane Lane, Demi Moore, and Molly Ringwald.
<h4 class="wp-block-heading">Under The Bridge – Hulu</h4>
<figure class="wp-block-image size-large"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/19111502/Under-The-Bridge-%E2%80%93-Hulu-1024x576.jpg" alt="" class="wp-image-300278" /><figcaption class="wp-element-caption">Under The Bridge &#x7C; Source: Hulu</figcaption></figure>
Inspired by a shocking true crime, &#8220;Under the Bridge&#8221; hits Hulu on April 17. Based on Rebecca Godfrey&#8216;s book of the same name, the series follows Detective (played by Lily Gladstone) and writer Rebecca Godfrey (played by Riley Keough) as they investigate the disappearance of 14-year-old Reena Virk (played by Vritika Gupta) after a party. A dark secret emerges, with teenage girls at the center of the horrifying crime.
<h4 class="wp-block-heading">Franklin – Apple TV+</h4>
<figure class="wp-block-image size-large"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/19111540/Franklin-%E2%80%93-Apple-TV-1024x576.jpg" alt="" class="wp-image-300281" /><figcaption class="wp-element-caption">Franklin &#x7C; Source: Apple TV+</figcaption></figure>
Academy Award winner Michael Douglas brings Benjamin Franklin to life in &#8220;Franklin,&#8221; a gripping new limited series on Apple TV+. Premiering on April 12th, the series follows Franklin&#8217;s high-stakes mission to France during the American Revolution. Can he convince the French to become allies, securing America&#8217;s future?
Danger lurks around every corner as Franklin, joined by his grandson (Noah Jupe), navigates the treacherous world of international politics. Don&#8217;t miss this thrilling tale of diplomacy and daring.
<h4 class="wp-block-heading">Men – Max</h4>
<figure class="wp-block-image size-large"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/19111559/Men-%E2%80%93-Max-1024x576.jpg" alt="" class="wp-image-300282" /><figcaption class="wp-element-caption">Men &#x7C; Source: Max</figcaption></figure>
Fresh off Alex Garland&#8217;s mind-bending &#8220;Civil War,&#8221; horror fans on Max can revisit his unsettling masterpiece, &#8220;Men.&#8221; Jessie Buckley is captivating as Harper, a widow seeking solace in the idyllic English countryside. However, her peace shatters when she encounters a series of menacing villagers, all portrayed with chilling intensity by the chameleon-like Rory Kinnear.
Read Next: <a href="https://www.benzinga.com/news/24/04/38184282/peek-inside-trumps-opulent-lifestyle-the-10-most-lavish-assets-he-owns">Peek Inside Trump&#8217;s Opulent Lifestyle: The 10 Most Lavish Assets He Owns</a>
Disclaimer:&nbsp;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 generated using Dall-E

Get Your Popcorn Ready: 6 Fresh Releases To Stream This Weekend On Netflix, Hulu And Disney+

Mark Zuckerberg and Nvidia Corp.'s Jensen Huang's bromance is the latest in Silicon Valley. Now, the Meta Platforms Inc. CEO has revealed the &#8220;secret ingredient&#8221; behind his close relationship with the <a href="https://www.benzinga.com/markets/equities/24/02/37258324/godfather-of-gpu-nvidias-jensen-huang-says-ai-factories-will-one-day-take-over-the-world">"Godfather of GPU."</a>
What Happened: Zuckerberg recently disclosed the key to his friendship with Huang, which revolves around a shared love for cheesesteaks. The two tech leaders, who are both at the helm of trillion-dollar companies, often bond over food.
&#8220;Jensen is really into cooking, so he invited me over to his house.&#8221;
&#8220;When we went over to his place, he was like, &#8216;Let&#8217;s make cheesesteaks,&#8217; and I&#8217;m like, &#8216;hell yeah, let&#8217;s make cheesesteaks&#8217;.&#8221;
Zuckerberg shared this insight during a podcast with internet personality Roberto Nickson.
He mentioned that Huang, who is also an avid cook, once invited him over to make cheesesteaks. The two also discuss their experiences running their respective companies.
See Also: <a href="https://www.benzinga.com/markets/equities/24/04/38345502/elon-musk-reacts-after-nvidia-stock-plunges-10-and-erases-212b-market-cap-rookie-numbers">Elon Musk Reacts After Nvidia Stock Plunges 10% And Erases $212B Market Cap: &#8216;Rookie Numbers&#8217;</a>
Despite their different net worths, Zuckerberg and Huang have a lot in common.
Zuckerberg, with a net worth of $178 billion, recently surpassed Elon Musk to become the world&#8217;s third-richest person. On the other hand, Huang, with a net worth of $74.6 billion, has built Nvidia into a $2.1 trillion company, surpassing Meta&#8217;s $1.3 trillion valuation.
Subscribe to the <a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a> to get all the latest tech developments delivered to your inbox.
Why It Matters: Zuckerberg and Huang&#8217;s friendship has been a topic of interest in the tech world.
Zuckerberg further solidified their friendship by <a href="https://www.benzinga.com/news/24/03/37974918/mark-zuckerberg-dons-nvidia-ceo-jensen-huangs-iconic-leather-jacket-in-viral-photo-calls-him-taylor">swapping jackets with Huang,</a> a move that he likened to a Taylor Swift-esque gesture. He also wrote a <a href="https://time.com/6964235/jensen-huang-2024/">profile</a> of Huang for Time Magazine, praising his leadership and vision.
Huang, who has been recognized for his visionary leadership, was praised by Zuckerberg for his determination and innovation in the tech industry.
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
<div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="Mark Zuckerberg on Fighting in the UFC, Meta AI, Legacy, Metaverse &amp; More" width="500" height="281" src="https://www.youtube.com/embed/8HrzoEvLWH0?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>
Check out more of Benzinga'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: <a href="https://www.benzinga.com/news/24/04/38217420/elon-musk-cant-hold-back-laughter-as-jack-dorsey-calls-mark-zuckerberg-a-b-simp-over-decade-old-snid?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Can&#8217;t Hold Back Laughter As Jack Dorsey Calls Mark Zuckerberg A &#8216;B&#x2A;&#x2A; Simp&#8217; Over Decade-Old Snide Remark About Twitter</a>
Disclaimer:&nbsp;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.
Photos courtesy: Shutterstock and Flickr

Mark Zuckerberg Spills The Beans On His Bromance With Nvidia's Jensen Huang: 'Hell Yeah, Let's Make Cheesesteaks'

Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO Elon Musk on Saturday hinted at the imminent launch of the company&#8217;s <a href="https://www.benzinga.com/markets/equities/24/04/38216186/glad-tesla-fsd-was-there-to-help-elon-musk-reacts-to-customers-crazy-story-of-how-driver-assista">Full Self-Driving (FSD) feature in China.</a>
What Happened: A Tesla owner in China expressed his anticipation for the FSD feature to be available in the country. He also inquired about the timeline for the HW3.0 system&#8217;s use of 3D modeling images and the release of new reversing assistance for Tesla HW3.0 owners in China. 
&#8220;It may be possible very soon,&#8221; Musk responded on X, formerly known as Twitter.
<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 may be possible very soon
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1781558948144820578?ref_src=twsrc%5Etfw">April 20, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Why It Matters: This development comes on the heels of Tesla&#8217;s decision to <a href="https://www.benzinga.com/news/24/04/38230953/elon-musks-tesla-slashes-price-of-full-self-driving-package-by-half-now-99month">slash the price</a> of its FSD package by half, making it more accessible to a wider customer base. Musk had earlier stated that the FSD price would only increase as the system&#8217;s features and capabilities expanded, but the recent move contradicts this assertion.
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38284745/teslas-cybertruck-outpaces-porsche-taycan-in-q1-despite-lagging-behind-fords-f-150-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Tesla&#8217;s Cybertruck Outpaces Porsche Taycan In Q1 Despite Lagging Behind Ford&#8217;s F-150 Lightning, Rivian R1T</a>
In March, Musk had announced that the FSD software would be <a href="https://www.benzinga.com/news/24/03/37812316/tesla-fsd-should-be-really-shining-bright-by-late-april-or-early-may-says-ceo-elon-musk">&#8220;really shining bright&#8221; </a>by late April or early May, with the company rolling out three significant improvements every two weeks to rapidly scale its abilities. The FSD software is designed to enable autonomous driving but is still in &#8216;beta&#8217; and requires active driver supervision, contrary to its name.
Additionally, Tesla recently restarted its offer to allow for <a href="https://www.benzinga.com/news/24/04/38104901/tesla-fsd-transfer-no-longer-one-time-amnesty-as-ev-giant-reportedly-restarts-offer-again-for-these">transferring its FSD software</a> to new vehicle purchases, after initially allowing it as a &#8220;one-time amnesty&#8221; in 2023. This move was in response to requests from several Tesla owners who wanted to transfer the FSD software from their old Teslas to their new ones.
Price Action: On Friday, Tesla&#8217;s stock closed at $147.05, marking a 1.92% decrease from the previous day&#8217;s close, according to data from <a href="http://pro.benzinga.com">Benzinga Pro.</a>
Read Next: <a href="https://www.benzinga.com/news/24/04/38288360/breaking-tesla-shareholders-to-vote-again-on-ceo-elon-musks-voided-47b-pay-package?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">&#8216;Fundamentally Unfair:&#8217; Tesla Board Chair Urges Shareholders To Vote Again On Elon Musk&#8217;s Voided Pay Package</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 via Shutterstock

Elon Musk Reacts As Chinese Tesla Owner Says 'I Look Forward To Tesla FSD Entering China': 'Possible Very Soon'

Former Windows head Steven Sinofsky slammed Sen. Elizabeth Warren (D-Mass.) for claiming Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) has a <a href="https://www.benzinga.com/general/politics/24/04/38343376/elizabeth-warren-attacks-apple-smartphone-monopoly-green-texts-on-iphones-theyre-ruining-relatio">"smartphone monopoly."</a>
What Happened: Sinofsky took to X, formerly Twitter, on Friday to voice his concerns about Warren's criticism of Apple.
Sinofsky's issue with Warren's comment is that Apple's iPhone market share – both in the U.S. and globally – falls short of meeting the requirements for being considered a monopoly.
See Also: <a href="https://www.benzinga.com/news/24/04/38334831/think-trading-in-your-iphone-helps-keep-planet-green-turns-out-there-are-plenty-of-dirty-secrets-rep">Think Trading In Your iPhone Helps Keep Planet Green? Turns Out There Are Plenty Of Dirty Secrets, Report Reveals</a>
"You know what is &#8216;just not right&#8217;? This needs a community note or 12. Also, good grief," he said.
<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">This needs a community note or 12. Also, good grief. You know what is "just not right"? This &#x1f447; <a href="https://t.co/hDZoQgNh5q">https://t.co/hDZoQgNh5q</a>
&mdash; Steven Sinofsky (@stevesi) <a href="https://twitter.com/stevesi/status/1781181954131718564?ref_src=twsrc%5Etfw">April 19, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
He was reacting to Warren, who said, "It's time to break up Apple's smartphone monopoly."
She also brought the focus on the <a href="https://www.benzinga.com/news/23/09/34818276/get-the-message-google-roasts-apple-with-new-mocking-ipager-add-to-end-green-vs-blue-text-bubbles-wa">green versus blue bubble debate</a>, saying, "Also, c'mon, let's stop leaving green text people out of the group chats. It's just not right."
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: Sinofsky&#8217;s post comes at a time when Apple is facing increased scrutiny from lawmakers and regulators. The company&#8217;s dominance in the smartphone market has been a subject of debate, with some calling for antitrust action.
According to a recent report, Apple <a href="https://www.benzinga.com/24/02/36893988/iphone-15-helps-apple-grab-64-us-market-share-in-q4-android-declines-report">held a 64% market share</a> in the U.S. at the end of the December 2023 quarter. It got a boost thanks to the <a href="https://www.benzinga.com/topic/iphone-15">iPhone 15</a> series, which was launched in September.
Earlier this week, Warren voiced her support for a Department of Justice antitrust case against Apple. Warren specifically criticized Apple&#8217;s smartphone market share.
Warren also criticized <a href="https://www.benzinga.com/news/23/12/36165068/apple-pulls-plug-on-imessage-for-android-app-beeper-mini-its-back-to-green-bubbles-now-for-android-u">Apple's decision</a> to pull the plug on the &#8216;iMessage for Android&#8217; app Beeper Mini. Apple CEO Tim Cook's <a href="https://www.benzinga.com/markets/equities/24/03/37886882/tim-cooks-buy-your-mom-an-iphone-comes-back-to-bite-apple-in-dojs-antitrust-lawsuit">conversation with a journalist</a> in 2022 made matters worse for Cupertino, finding its way into the U.S. Department of Justice's (DOJ) antitrust lawsuit against the company.
Apple has <a href="https://www.benzinga.com/markets/equities/24/03/37872817/apple-says-dangerous-doj-lawsuit-threatens-who-we-are-vows-to-fight-against-it">strongly defended</a> its position, arguing that the lawsuit poses a threat to the company&#8217;s core principles and its ability to innovate.
Price Action: Apple&#8217;s stock closed at 1.22% down at $165 on Friday, according to <a href="https://pro.benzinga.com/dashboard">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:&nbsp;<a href="https://www.benzinga.com/news/24/04/38292593/china-linked-espionage-campaign-targeting-apples-iphones-blackberry-raises-alarm-with-new-report?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">China-Linked Espionage Campaign Targeting Apple's iPhones: BlackBerry Raises Alarm With New Report</a>
Disclaimer:&nbsp;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.
Photo courtesy: Shutterstock

Politics

Former Windows Head Slams Elizabeth Warren For Apple's 'Smartphone Monopoly' Comment: 'This Needs A...Good Grief'

Tesla Inc. CEO Elon Musk has postponed his <a href="https://www.benzinga.com/markets/equities/24/04/38292965/elon-musk-to-jet-off-to-india-ahead-of-teslas-crucial-q1-earnings-eyes-2b-4b-investments-report">highly anticipated visit to India</a>, which was scheduled for April 21-22.
What Happened: Musk, who was expected to meet with Prime Minister Narendra Modi during his visit, has deferred the plans.
Tesla&#8217;s crucial Q1 earnings slated for April 23 have played a role in the delay, as confirmed by Musk in a post on X, formerly Twitter.
See Also: <a href="https://in.benzinga.com/content/38335728/chola-securities-dharmesh-kant-on-markets-as-earnings-kickoff-this-market-is-discounting-that-nothin" target="_blank" rel="noreferrer noopener">Chola Securities Dharmesh Kant On Markets As Earnings Kickoff This Market Is Discounting That Nothing Can Go Wrong'</a>
Musk said, "Unfortunately, very heavy Tesla obligations require that the visit to India be delayed, but I do very much look forward to visiting later this year."
<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">Unfortunately, very heavy Tesla obligations require that the visit to India be delayed, but I do very much look forward to visiting later this year.
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1781541775183610310?ref_src=twsrc%5Etfw">April 20, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
<a href="http://pro.benzinga.com">Benzinga</a> has reached out to Tesla for a comment but did not immediately receive a response at the time of writing.
Wedbush's Dan Ives termed it a <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38336261/tesla-musk-face-moment-of-truth-with-q1-earnings-call-believers-are-giving-up-on-th">"moment of truth"</a> for both Musk and Tesla.
&#8220;Next week&#8217;s conference call and messaging one of the most important moments in the company&#8217;s history in our view,&#8221; Ives said.
Why It Matters: Musk&#8217;s visit to India was highly anticipated, with speculations rife about the announcement of investment and manufacturing plans in the country.
The billionaire entrepreneur was <a href="https://in.benzinga.com/content/38196950/tesla-coming-to-india-elon-musk-to-meet-indian-pm-narendra-modi-likely-to-announce-investment-plan-l">expected to meet with PM Modi</a> and make an official announcement regarding his India strategies during the visit.
Additionally, Musk was reportedly <a href="https://www.benzinga.com/markets/equities/24/04/38292965/elon-musk-to-jet-off-to-india-ahead-of-teslas-crucial-q1-earnings-eyes-2b-4b-investments-report">considering an investment</a> of $2 billion to $3 billion for a new factory in India.
The Indian government&#8217;s recent decision to revise the foreign direct investment (FDI) limits in the space sector, effective April 16, was also seen as a move that could <a href="https://in.benzinga.com/content/38309589/how-stars-have-aligned-for-elon-musks-starlink-as-india-eases-fdi-caps-ahead-of-tesla-boss-visit">support Musk&#8217;s Starlink plans</a> in India.
Tesla is scheduled to report its first-quarter results on Tuesday, with analysts, on average, estimating earnings per share of 51 cents and revenue of $22.34 billion, according to&nbsp;<a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener">Benzinga Pro data.&nbsp;</a>This compares to the year-ago's 85 cents per share and $23.33 billion, respectively.
Read Next: <a href="https://in.benzinga.com/content/38333998/jio-financial-services-q4-net-profit-up-5-from-last-quarter-revenue-at-418-cr" target="_blank" rel="noreferrer noopener">Jio Financial Services Q4 Net Profit Up 5 From Last Quarter Revenue At ₹418 Cr</a>
Disclaimer:&nbsp;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.
Photos courtesy: Shutterstock

Elon Musk Puts Plans To Meet India's Modi On Hold: 'Very Heavy Tesla Obligations Require That The Visit To India Be Delayed'

Tesla Inc. CEO Elon Musk ridiculed the <a href="https://www.benzinga.com/news/24/04/38341107/whats-going-on-with-nvidias-stock">sharp 10% decline</a> in Nvidia Corp.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) stock and its subsequent $211 billion market capitalization loss on Friday.
What Happened: Musk took to X, formerly Twitter, on Friday to mock the substantial decline in Nvidia's market capitalization. He referred to the 10% decline as &#8220;rookie numbers."
<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">Rookie numbers
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1781479341366362115?ref_src=twsrc%5Etfw">April 20, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
On Friday, Nvidia&#8217;s stock took a significant hit, resulting in a $211 billion loss in market capitalization. This was the second-largest single-day loss in the history of the U.S. stock market.
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38314733/teslas-autonomous-driving-efforts-win-praise-from-goldman-sachs-wall-street-firm-pr?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Tesla&#8217;s Autonomous Driving Efforts Win Praise From Goldman Sachs</a>
Overall, the Magnificent 7 group of stocks, which includes Apple Inc., Alphabet Inc.'s Google, Microsoft Corp., Meta Platforms Inc., Amazon.com Inc., Tesla and Nvidia together witnessed a record $950 billion loss of market capitalization in the last week, according <a href="https://www.marketwatch.com/story/nvidias-stock-plunge-leads-magnificent-seven-to-record-weekly-market-cap-loss-8e0a55f7">to</a> MarketWatch.
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: The decline in Nvidia&#8217;s stock value has had a significant impact on the market.
The tech-heavy Nasdaq 100 index <a href="https://www.benzinga.com/news/large-cap/24/04/38342737/nasdaq-100-notches-worst-day-since-late-2023-worst-week-since-late-2022-as-ai-driven-chipmakers-tu">experienced its worst day</a> since late 2023, and the worst week since late 2022, with a 2.1% drop on Friday. This marked the fourth consecutive week of declines, a negative streak not seen since May 2022.
On a weekly basis, the Nasdaq 100, which is closely tracked by the Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), tumbled 5.3%, marking its worst performance since October 2022. The downturn on Friday further exacerbated the already pessimistic sentiment surrounding U.S. tech stocks.
Nvidia&#8217;s stock decline was attributed to a series of events, including worse-than-expected earnings from <a href="https://www.benzinga.com/news/earnings/24/04/38341107/whats-going-on-with-nvidias-stock">ASML Holdings N.V.</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASML#NASDAQ">ASML</a>) and a reduced outlook for the chip market by <a href="https://www.benzinga.com/news/earnings/24/04/38341107/whats-going-on-with-nvidias-stock">Taiwan Semiconductor Manufacturing Company Ltd.</a> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>).
Despite the stock decline, <a href="https://www.benzinga.com/news/24/04/38320056/whats-going-on-with-apple-supplier-taiwan-semi-stock-on-thursday">TSM&#8217;s revenue surged 16.5%</a> to $18.87 billion, surpassing the Street consensus estimate of $18.40 billion. This was attributed to robust demand from artificial intelligence firms.
Other companies in the semiconductor sector, such as Super Micro Computer, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>), also experienced stock declines on Friday, further adding to the overall negative sentiment in the market.
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: <a href="https://www.benzinga.com/news/24/04/38334831/think-trading-in-your-iphone-helps-keep-planet-green-turns-out-there-are-plenty-of-dirty-secrets-rep">Think Trading In Your iPhone Helps Keep Planet Green? Turns Out There Are Plenty Of Dirty Secrets, Report Reveals</a>
Disclaimer:&nbsp;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

ASML

NVDA

SMCI

Elon Musk Reacts After Nvidia Stock Plunges 10% And Erases $212B Market Cap: 'Rookie Numbers'

House Oversight Committee Chair James Comer (R-Ky.) has publicly opposed the <a href="https://www.benzinga.com/news/24/04/38327855/marjorie-taylor-greene-says-mike-johnson-has-turned-into-a-mini-tyrant-we-need-a-new-speaker">motion to vacate Speaker</a> Mike Johnson (R-La.) filed by Rep. Marjorie Taylor Greene (R-Ga.).
What Happened: Comer criticized Greene&#8217;s motion to remove Johnson, stating that it is &#8220;not the right business model&#8221; in an <a href="https://www.foxnews.com/video/6351261923112">interview</a> with Fox News on Friday
Comer acknowledged the challenges Johnson has faced and the <a href="https://www.benzinga.com/news/24/04/38084745/marjorie-taylor-greene-brands-mike-johnson-a-democrat-comparable-to-nancy-pelosi-literally-turned-in">increasing pressure from Greene</a> due to his efforts to provide additional aid to Ukraine. Despite this, Comer believes that changing Speakers is not the solution.
"It's gotten a lot worse since he's been here. But changing Speakers is not the right business model."
Greene&#8217;s motion, filed in late March, has garnered support from at least three GOP co-sponsors. Greene has been vocal about her <a href="https://www.benzinga.com/news/24/04/38017280/marjorie-taylor-greene-and-mike-johnson-to-hold-discussion-next-week-following-text-interaction-shes">dissatisfaction with Johnson&#8217;s leadership,</a> particularly regarding the provision of additional aid to Ukraine.
See Also: <a href="https://www.benzinga.com/news/24/04/38341107/whats-going-on-with-nvidias-stock?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">What&#8217;s Going On With Nvidia&#8217;s Stock?</a>
Comer, however, expressed his support for Johnson, suggesting that he should remain Speaker at least until the end of the current session. He also criticized the motion to vacate that led to the ousting of former Speaker Kevin McCarthy (R-Calif.) last year, calling it a &#8220;mistake.&#8221;
Why It Matters: Comer&#8217;s comments come amid growing discontent within the Republican Party over Johnson&#8217;s leadership. Greene has been vocal about her intentions to remove Johnson from his position, citing his efforts to provide additional aid to Ukraine as a primary reason. Despite her efforts, Johnson has received <a href="https://www.benzinga.com/news/24/04/38237873/marjorie-taylor-greene-isnt-backing-down-on-criticism-of-house-speaker-despite-donald-trumps-efforts">backing from former President Donald Trump</a>, who has expressed his support for the Speaker.
Greene&#8217;s motion to vacate was further supported by Rep. Thomas Massie (R-Ky.), who publicly endorsed <a href="https://www.benzinga.com/news/24/04/38284071/marjorie-taylor-greene-bid-to-oust-speaker-mike-johnson-joined-by-thomas-massie-its-a-clusterf-k">Greene&#8217;s efforts to remove Johnson.</a>
Johnson has also faced criticism from conservatives for the lack of border security provisions in his latest foreign aid proposal. He <a href="https://www.benzinga.com/news/24/04/38305637/mike-johnson-on-border-criticism-some-of-my-colleagues-want-the-speaker-of-the-house-to-have-a-magic">attributed the lack of action to Senate and White House Democrats</a>, stating that some of his colleagues want the Speaker of the House to have a &#8220;magic wand.&#8221;
Read Next: <a href="https://www.benzinga.com/news/24/04/38286407/gop-mega-donors-son-throws-support-behind-incumbent-president-in-biden-vs-trump-battle?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">GOP Mega Donor&#8217;s Son Throws Support Behind Incumbent President In Biden Vs. Trump Battle</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.
Photo courtesy: Flickr

James Comer Slams Marjorie Taylor Greene's Motion To Oust Mike Johnson: 'It's Gotten A Lot Worse...But Changing Speakers Is Not The Right Business Model'

Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) has gone back to <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/01/36674199/teslas-price-cut-puzzle-will-discounts-drive-demand-or-train-customers-to-wait-for-">a strategy that has been widely criticized as one of the main reason</a>s for the electric vehicle maker&#8217;s current predicament. Late Friday, the company took down the price of its Model S, X and Y prices in the U.S.
What Happened: Updated pricing available on Tesla&#8217;s website showed that the prices of the dual-motor all-wheel drive Model S and the trimotor all-wheel drive Model S Plaid have been reduced by $2,000.
The changes are as follows:
<ul>
<li>Model S: $72,990 ( down 2.7% from $74,990 previously)</li>
<li>Model S Plaid: $87,990 (down 2.2% from $89,990 previously)</li>
<li>Model X: $77,990&#x2A; ( down 2.6% from $75,990 previously)</li>
<li>Model X Plaid: $92,990 (down 2.2% from $90,990 previously)</li>
<li>Model Y rear-wheel drive: $42,990&#x2A; (down 4.5% from $44,990 previously)</li>
<li>Model Y dual-motor AWD, Long Range: $47,990&#x2A; (down 4.0% from $49,990 previously)</li>
<li>Model Y dual-motor AWD, Performance: $51,490&#x2A; (down 3.7% from $53,490 previously)</li>
</ul>
&#x2A;not including the $7,500 EV federal tax credit
The previous prices were sourced from information provided by Tesla influencer Sawyer Merritt in a <a href="https://twitter.com/SawyerMerritt/status/1781532245955616983">post</a> on X.
Merritt also noted that Tesla has ended its referral program in the U.S. on April 30. &#8220;Qualifying referral orders placed by April 30, 2024, will continue to earn benefits upon delivery. Credits will still be redeemable until they expire,&#8221; the company apparently said in a communication to users. Earlier, Tesla Drive Canada <a href="https://driveteslacanada.ca/news/tesla-ending-referral-program-in-some-countries/">reported </a>about referral program expiry in select countries such as Australia, New Zealand, and South Korea.
See Also:&nbsp;<a href="https://www.benzinga.com/money/everything-you-need-to-know-about-tesla-stock" target="_blank" rel="noreferrer noopener">Everything You Need To Know About Tesla Stock</a>
Why It&#8217;s Important: Tesla typically announces price cuts late Thursday and the fact that it has pushed it back until after the market close suggests the company is wary of the announcement creating volatility in the stock.
Tesla shares ended down for a sixth straight session on Friday and the losing streak resulted in a cumulative loss of about 16%. 
Tesla bulls and bears have been highly critical of the company&#8217;s price-cutting strategy, given the past results of the action. The multiple EV price cuts the company has announced since late 2022 in China and from the beginning of 2023 in the rest of the geographies have not served to lift volume. In the first quarter, deliveries declined year-over-year for the first time since the COVID-19-hit 2020-second quarter. This has given rise to fears that the company may be staring at a negative volume growth for 2024.
The core auto gross margin has suffered due to the price cuts and the action has also served to impact the EV industry as a whole, as the rest of the companies are forced to either follow suit and take a beating to their bottom line or stay pat and risk erosion in their market share.
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="http://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
The price cuts culminate an event-filled week for Tesla as it announced a round of massive layoffs, including a couple of high-profile executives, and doubts about its sub-$30K EV plans intensified. 
Tesla is scheduled to report its first-quarter results on Tuesday, with analysts, on average, estimating earnings per share of 51 cents and revenue of $22.34 billion, according to <a href="https://benzinga.grsm.io/lxquj26b2sag">Benzinga Pro data. </a>This compares to the year-ago&#8217;s 85 cents per share and $23.33 billion, respectively.
Read Next: <a href="https://www.benzinga.com/markets/equities/24/04/38332930/management-expert-warns-elon-musk-faces-ceo-overload-after-tesla-layoffs-reportedly-leave-him-ov">Management Expert Warns Elon Musk Faces &#8216;CEO Overload&#8217; After Tesla Layoffs Reportedly Leave Him Overseeing 35 Key Personnel</a>
Image Created Via Midjourney

Tesla Slashes Model S, X And Y Prices In US By $2,000 In Late-Friday Move As Volume Growth Turns Negative

The <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38331688/peter-schiff-slams-bitcoin-for-not-being-the-safe-haven-asset-its-promoted-to-be-af">recent market dip</a> in Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) saw a significant increase in the holdings of large investors, commonly referred to as &#8220;whales,&#8221; who collectively added over $1.2 billion worth of BTC to their portfolios.
What Happened: On Friday, as the price of Bitcoin dropped below $60,000, large investors increased their holdings by 19,760 BTC, equivalent to $1.2 billion, according to a report by <a href="https://www.coindesk.com/markets/2024/04/19/bitcoin-whales-bought-12b-btc-amid-the-price-dip-fueling-the-quick-rebound/">CoinDesk</a>, citing data from IntoTheBlock.
This move is seen as a significant shift in the behavior of these influential market players.
"Bitcoin whales may have finally started buying the dip," said IntoTheBlock.
These large investors, who control substantial amounts of the digital asset, are often considered to be well-informed and their actions can have a considerable impact on the market.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38321897/dogecoin-shiba-inu-and-who-else-how-meme-coins-have-evolved-since-the-last-bitcoin-halving?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Dogecoin, Shiba Inu And Who Else? How Meme Coins Have Evolved Since The Last Bitcoin Halving</a>
Their recent purchases may have contributed to Bitcoin&#8217;s rapid recovery from its overnight low of $59,600 to around $65,000. The cryptocurrency is currently trading at approximately $64,000, marking a 1% increase over the past 24 hours.
"Historically, accumulations by these addresses have often preceded rises in Bitcoin&#8217;s price."
Bitcoin, the largest cryptocurrency by market capitalization, has been experiencing a period of consolidation following record-breaking prices last month.
<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">Bitcoin whales may have finally started buying the dip&#x1f447; Yesterday, the biggest Bitcoin holders, holding over 0.1% of the total supply, collectively added 19,760 Bitcoins to their holdings at an average price of $62.5k. Historically, accumulations by these addresses have often… <a href="https://t.co/c8K5uhkna4">pic.twitter.com/c8K5uhkna4</a>
&mdash; IntoTheBlock (@intotheblock) <a href="https://twitter.com/intotheblock/status/1781263617528045852?ref_src=twsrc%5Etfw">April 19, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Why It Matters: The recent behavior of Bitcoin whales is significant as it indicates a shift in market sentiment. This comes at a time when a new report has shed light on the <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38317307/bitcoin-halving-will-institutions-and-smart-money-upend-past-price-rallies">role of institutions</a> and &#8220;smart money&#8221; in influencing Bitcoin&#8217;s price action.
Despite concerns about potential price volatility, Bitcoin has <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38340794/bitcoin-in-the-danger-zone-is-a-20-price-crash-imminent">held strong</a> following the fourth halving event, which saw miner rewards reduced from 6.25 BTC to 3.125 BTC.
Price Action: At the time of writing, Bitcoin was hovering at $63,694, reflecting a 0.1% increase in the last hour and a 5.9% increase in the last 24 hours, according to<a href="https://pro.benzinga.com/dashboard"> Benzinga Pro</a>.
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38306270/dogecoin-could-make-elon-musks-fate-loves-irony-comment-come-true-if-it-flips-ethereums-ma?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Dogecoin Could Make Elon Musk&#8217;s &#8216;Fate Loves Irony&#8217; Comment Come True If It Flips Ethereum&#8217;s Market Cap</a>
Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Image generated using Dall-E

Bitcoin Whales Scoop Up $1.2B Worth Of BTC During Market Dip: Is Potential Rally For King Crypto On The Cards?

Buy Alamos Gold: Top North American Miner In 2023 For Good Reason

Pan American Silver Corp. 2023 Q3 - Results - Earnings Call Presentation

Pan American Silver Corp. (PAAS) Q3 2023 Earnings Call Transcript

Brutal Q3 For Pan American Silver: Traders On Alert

Newmont Should Be A Core Gold Holding: Triple In Price Next? (Rating Upgrade)

Pan American Silver reports mixed Q4 results; reaffirms FY24 and quarterly outlook

Pan American Silver Corp. (PAAS) Q4 2023 Earnings Call Transcript

Pan American Silver Corp. (PAAS) BMO 33rd Global Metals, Mining & Critical Minerals Conference (Transcript)