Pharmaron Beijing Co (OTC:PHBBF) Stock, Quote.Headers.trade-ideas

Pharmaron Beijing Co Ltd is a research and development service company supporting the life science industry. The company offers drug research and development service capabilities, ranging from synthetic, medicinal, and analytical chemistry, biology, DMPK, pharmacology, drug safety assessment, radiochemistry and isotopically labelled metabolism, chemical and pharmaceutical development to clinical development. The company's operating segment includes Laboratory services; CMC (small molecule CDMO) services; Clinical development services and biologics and CGT services. It generates maximum revenue from the Laboratory services segment.

PHARMARON BEIJING CO LTD by PHARMARON BEIJING CO LTD.

Pharmaron Beijing Co Ltd

The <a href="https://hempsupporter.com/">U.S. Hemp Roundtable</a>, <a href="https://www.benzinga.com/markets/cannabis/24/05/38599614/cheech-and-chong-brand-ceo-talks-cannabis-retail-expansion-and-designs-that-resonate-with-the-le" target="_blank" rel="noreferrer noopener">Cheech and Chong's Cannabis Company</a> and several California hemp farmers and businesses petitioned California courts on Friday for a temporary restraining order (TRO) to prevent the enforcement of Governor Gavin Newsom's <a href="https://www.benzinga.com/markets/cannabis/24/09/40756333/gov-newsom-proposes-emergency-rules-to-severely-restrict-hemp-products-this-will-destroy-our-bus" target="_blank" rel="noreferrer noopener">emergency regulations</a> to ban all hemp products containing any &#8220;detectable amount of total THC.&#8221;
Plaintiffs challenging Newsom's ban, which sent shock waves through California's hemp and cannabis industry, are asking a state judge to temporarily halt enforcement of the new rules while the legal challenge proceeds, arguing that the prohibition is unlawful and will cause irreparable harm to the hemp industry. The emergency regulations bans 90-95% of hemp products on the marketplace, including manufacturing or selling them in California.   
"If allowed to remain in effect, the Emergency Regulations will eliminate nearly every ingestible hemp product currently for sale in California, including the vast majority of nonintoxicating products," the plaintiffs argued in their <a href="https://hempsupporter.com/wp-content/uploads/2024/10/TRO-PI-US-Hemp-Roundtable-v.-California-Department-of-Public-Health-4856-4917-0923.9-1.pdf">filing</a>. "Many small businesses will have to close operations immediately with millions in losses. Relief is thus warranted because the Emergency Regulations are substantially unlawful and have in any event been adopted by drastically unlawful means."
Read Also:<a href="https://www.benzinga.com/markets/cannabis/24/10/41183711/what-newsom-is-proposing-will-crater-the-hemp-industry-could-californias-restrictions-spread-nat"> &#8216;What Newsom Is Proposing Will Crater The Hemp Industry&#8217;: Could California&#8217;s Restrictions Spread Nationwide?</a>
In the initial lawsuit filed in late September, plaintiffs argued that the state had declared an "emergency" without basis and failed to implement existing hemp legislation, which was passed in 2021. "The Department [of Public Health] had nearly three years to address these issues," the TRO request states.
<h2 class="wp-block-heading">Hemp Roundtable Attorney Responds</h2>
"We are hopeful that the Court will temporarily block – and then ultimately, permanently enjoin – Governor Newsom's misguided efforts to devastate hemp farmers, business and product consumers in California," Jonathan Miller, the Roundtable's General Counsel stated in an email shared with Benzinga. "It's high time that the Governor abandon this punitive effort and sit down with all stakeholders to appropriately address his stated mission: to develop a robust regulatory regime that promotes health and safety and keeps hemp products out of the hands of minors."
Newsom's ruling also includes a ban on manufacturing and selling hemp-THC products intended for sale outside California. This broad scope threatens the entire national supply chain, <a href="https://www.benzinga.com/markets/cannabis/24/09/40756333/gov-newsom-proposes-emergency-rules-to-severely-restrict-hemp-products-this-will-destroy-our-bus">say experts</a>, raising concerns over state overreach and violations of interstate commerce laws​.
Newsom's ban <a href="https://www.benzinga.com/markets/cannabis/24/09/41012794/gov-newsoms-hemp-ban-goes-into-effect-consequences-for-industry-investors-patients">went into effect</a> on Sept. 23, immediately after it was approved by the Office of Administrative Law.
The hearing for the TRO has been scheduled for 9:30 AM PDT/12:30 AM EDT, Thursday, October 10th. Nolan Jackson, the Hemp Roundtable's regulatory counsel, will be arguing the motion on behalf of the plaintiffs
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</ul>

Cannabis

Government

Legal

Cheech And Chong Cannabis Company, Hemp Roundtable Petition Court To Stop Gov Newsom's Controversial Hemp-THC Ban

Donald Trump&#8217;s Michigan event on Friday, framed as an address on the local economy amid inflation concerns,<a href="https://www.benzinga.com/news/24/09/41078459/vice-president-harris-promises-tougher-border-security-and-immigration-reform-in-arizona" target="_blank" rel="noreferrer noopener"> shifted focus to border security and rampant criticism of migrants</a>.
For 25 minutes, he criticized migrants, using increasingly graphic language, despite the manufacturing backdrop and audience of workers, reported Reuters.
Trump made unfounded claims that migrants crossing the U.S. border were responsible for widespread violence, asserting that they engage in horrific acts without remorse.
Not to forget that Trump&#8217;s general disdain for migrants has been a central theme of his campaign this election season.
In fact, recent <a target="_blank" href="https://www.axios.com/2024/10/05/trump-migrants-venezuelan-congolese-rhetoric" rel="noreferrer noopener">research</a> by the Axios suggests that he has focused on Venezuelan and Congolese individuals labeled as criminals. Trump labeled migrants from Mexico as criminals 13 times and those from Guatemala 10 times from Sept. 1, 2023, to Oct. 2, 2024.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/10/41196047/vc-ben-horowitz-first-endorsed-donald-trump-now-pledges-support-for-kamala-harris" rel="noreferrer noopener">VC Ben Horowitz First Endorsed Donald Trump, Now Pledges Support For Kamala Harris</a>
His increasingly apocalyptic rhetoric includes unfounded claims about migrants&#8217; criminal backgrounds and dire consequences, all while he pushes for mass deportations.
He also suggested that these individuals commit brutal crimes in front of families.
Critics argue this strategy aims to amplify racist stereotypes and exploit Republican fears about the influx of border crossers into the U.S.
This shift in language comes despite the White House implementing new restrictions that have significantly reduced migrant entries. Earlier this year, Trump also played a role in derailing a bipartisan bill in Congress designed to enhance border security.
However, Reuters highlighted that Trump&#8217;s message linking migrants to crime appears to be resonating.
A recent <a target="_blank" href="https://www.kff.org/" rel="noreferrer noopener">KFF</a> poll revealed that 80% of Americans surveyed had encountered false claims about migrants causing an increase in violent crime, while 74% had heard that immigrants were taking jobs from citizens and contributing to rising unemployment, Reuters mentioned in its report.
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Equities

News

Politics

Markets

Media

General

Trump's Dark Rhetoric: Migrants Portrayed As Criminals Amid Election Heat

Conversations regarding the normalization of relations between Israel and Saudi Arabia have been a significant diplomatic <a href="https://www.benzinga.com/topic/jared-kushner" target="_blank" rel="noreferrer noopener">goal for both the Biden and Trump administrations</a>.
Jared Kushner, son-in-law of Donald Trump, has reportedly engaged in discussions about U.S.-Saudi diplomatic negotiations related to Israel, reported Reuters.
Jared Kushner&#8217;s private equity firm Affinity Partners, linked to Trump, has received over $112 million in fees from Saudi Arabia and other foreign investors since 2021, despite not returning any profits to the governments primarily funding the firm as of July, per a recent <a href="https://www.nytimes.com/2024/09/25/us/politics/kushner-private-equity-saudi-arabia.html" target="_blank" rel="noreferrer noopener">report</a> by The New York Times.
Also Read: <a target="_blank" href="https://www.benzinga.com/government/24/09/41043869/trump-son-in-laws-pe-firms-client-agreement-creates-unprecedented-conflicts-of-interest-involving-pr" rel="noreferrer noopener">Trump Son-In-Law&#8217;s PE Firm&#8217;s Client Agreement Creates &#8216;Unprecedented&#8217; Conflicts Of Interest Involving Presidential Family, Says Democratic Senator: &#8216;These Facts Suggest The Saudi Government&#8217;s Decision…To Curry Favor…For Favorable US Policy&#8217;</a>
He has spoken with Saudi Arabia&#8217;s Crown Prince Mohammed bin Salman on several occasions since leaving the Trump administration.
In fact, Kushner has a close relationship with Saudi Arabia, which has reportedly invested $2 billion in his private equity fund, per Reuters.
However, his discussions with Crown Prince Mohammed bin Salman about a peace accord highlight the bipartisan focus on Middle East stability amid an impending presidential election.
These talks raise concerns about how Kushner&#8217;s financial ties to Riyadh might affect U.S. policy if Trump returns to power.
Saudi Arabia&#8217;s investments in Kushner&#8217;s fund have faced criticism from ethics experts and lawmakers, raising concerns of potential conflicts of interest.
Democratic Senator Ron Wyden, chair of the Senate Finance Committee, highlighted these worries in a Sept. 24 letter, emphasizing that Saudi investments could appear as a payoff given Kushner&#8217;s previous work on Saudi matters during the Trump administration, Reuters added.
Jared Kushner has denied any allegations that Saudi Arabia&#8217;s investments represent a payoff or conflict of interest, Reuters mentioned in the note.
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Jared Kushner Engages In Diplomatic Talks with Saudi Crown Prince: Report

University of Chicago economist Konstantin Sonin has issued a stark warning about the future of Russia&#8217;s economy. The ongoing conflict in Ukraine, he says, is setting the stage for a major economic crisis in Russia.
What Happened: The ongoing Ukraine war has forced Russia to tighten its grip on its economy, leading to the disintegration of key market institutions, says Sonin. 
He cites Russia&#8217;s imposition of export restrictions on vital commodities in response to Western sanctions as an example of this disintegration.
These shifts have led to significant price increases by some companies, while others, like Heineken, have had to sell their Russian operations for nominal sums. Russia has also taken steps to prevent companies from leaving the country.
Sonin <a href="https://www.project-syndicate.org/onpoint/russia-war-economy-short-term-strength-mortgaging-the-future-by-konstantin-sonin-2024-10">wrote</a> about this in an&nbsp;op-ed&nbsp;for Project Syndicate. He also notes that the Kremlin is funding the war by &#8220;borrowing from the future,&#8221; with cuts to crucial public spending programs and a rise in military spending. 
&#8220;Even more important, Putin&#8217;s borrowing from the future takes the form of a gradual, yet pervasive dismantling of the market institutions that the Russian people paid such a high price to acquire during the reforms of the 1990s,&#8221; Sonin wrote in the op-ed.
Also Read: <a href="https://www.benzinga.com/news/24/09/40894933/kim-jong-uns-north-korea-outranks-china-as-russias-top-ally-in-ukraine-conflict-says-military-intell">Kim Jong Un&#8217;s North Korea Outranks China As Russia&#8217;s Top Ally In Ukraine Conflict, Says Military Intelligence Chief</a>
&#8220;​​Investing massively in military production and simultaneously dismantling market institutions may strengthen Putin&#8217;s hand in the short term, but it sets a time bomb under longer-term economic development,&#8221; Sonin added in his article. 
Despite the economic pressure, Russia&#8217;s GDP is expected to grow by 3.2% this year, thanks to Moscow&#8217;s substantial war spending, <a href="https://www.businessinsider.com/russia-economy-ukraine-war-outlook-moscow-sanctions-west-firms-uchicago-2024-10">reports</a> Business Insider.
&#8220;Whenever the Ukraine war ends and Russia returns to international trade (beyond raw materials), all the nationalizations of recent years will come back to haunt it. Putin&#8217;s war not only imposes on today&#8217;s Russians a worse life than they otherwise would have had. It also condemns future generations,&#8221; he said in the post.
Why It Matters: However, Sonin foresees a difficult economic future for Russia. He warns that the nationalizations of recent years will have long-term effects once the Ukraine war ends and Russia re-enters international trade.
Other forecasters have echoed Sonin&#8217;s concerns, pointing to declining long-term economic health indicators and a significant worker shortage in Russia.
Read Next
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Global

Russia's Latest 'Time Bomb' Sparks Fear, But It's Not What You Think

Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) has reportedly lost log data for several of its crucial security products, which could potentially affect customers&#8217; ability to detect threats and generate security alerts.
What Happened: Microsoft experienced a failure in consistently collecting log data for a number of its vital cloud services. Logs, which document events within a program like account sign-ins, play a pivotal role in identifying unauthorized network and account access. The absence of proper recording could lead to missed potential intrusion instances.
As per the report <a href="https://www.businessinsider.com/microsoft-tells-customers-it-lost-log-data-key-security-products-2024-10">by</a> Business Insider, from September 2-19, a bug in a Microsoft internal monitoring agent caused a malfunction in uploading log data to the company&#8217;s internal logging platform.
This issue did not affect the uptime of any customer-facing services or resources, and there&#8217;s no evidence of cyberattacks resulting from this incident.
The products affected include Microsoft Entra, Microsoft Sentinel, Microsoft Defender for Cloud, and Microsoft Purview. In particular, Microsoft Sentinel customers may have encountered potential gaps in security-related logs or events, which could impact their ability to analyze data, detect threats, or generate security alerts, reports the outlet. 
Also Read: <a href="https://www.benzinga.com/content/41167523/microsofts-targeted-upside-might-be-too-good-to-ignore">Microsoft&#8217;s Targeted Upside Might Be Too Good to Ignore</a>
Microsoft has not yet issued a statement on this incident. This loss of log data occurs at a time when Microsoft has been emphasizing security as a top priority, in the wake of previous mishandling of security incidents.
Why It Matters: This incident underscores the importance of consistent and accurate log data collection in maintaining robust security protocols. 
For a tech giant like Microsoft, any lapse in security measures could potentially impact a vast number of customers globally. 
The incident also raises questions about the effectiveness of Microsoft&#8217;s internal monitoring systems, especially given the company&#8217;s recent emphasis on security. 
The company&#8217;s response to this incident and measures taken to prevent future occurrences will be closely watched by customers and stakeholders alike.
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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.

Tech

MSFT

Microsoft Loses Critical Security Logs - Here's How It Could Impact You

When you hit 40, the temptation to upgrade your lifestyle can be strong, especially if you've worked hard and saved well. However, according to personal finance expert <a href="https://www.benzinga.com/personal-finance/24/10/41125098/suze-orman-says-the-personal-finance-of-americans-is-really-really-bad-even-though-the-stock-mar">Suze Orman</a>, a swankier apartment in a prime city could be more of a financial burden than a reward – especially if your job situation is unstable.
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In a recent episode of her Women &amp; Money podcast, a listener posed a question many can relate to: She's 40, presumably owns her home outright, and has saved a significant portion of her net worth in cash. With relatively low expenses and the safety net of living with her parents if necessary, she's considering upgrading to a nicer apartment in the city, using her cash reserves or taking out a small loan. The problem? Her job is unstable, and she knows she might have to retire early.
Orman's response? A firm &#8220;no.&#8221;
Trending: A billion-dollar investment strategy with minimums as low as $10 —<a href="https://www.benzinga.com/money/fundrise-flagship-fund"> you can become part of the next big real estate boom today.</a>
At first glance, upgrading to a nicer place may seem easy, but Orman warns that it could lead to more financial stress in the long run. She explains that moving to a swankier apartment means more than a bigger space. &#8220;More expenses, more taxes, more everything,&#8221; she says. If your job is shaky, you should focus on accumulating cash, not depleting it.
Her co-host KT quickly jumped in, agreeing with Orman's assessment. &#8220;Why would you do that? I would never do that if I had an unstable job and (was) 40 years old,&#8221; she said. &#8220;I&#8217;d want to accumulate as much cash as possible so then I'd feel free.&#8221;
See Also: The average American couple has saved this much money for retirement —<a href="http://www.benzinga.com/money/smartasset"> How do you compare</a>?
For Orman, the decision is simple: at 40, you should still be focused on <a href="https://www.benzinga.com/personal-finance/24/07/39800314/are-you-rich-enough-to-join-the-top-5-of-households-you-may-be-wealthier-than-you-realize">building wealth</a>. &#8220;These are your compounding years,&#8221; she reminds listeners. She suggests investing in your future rather than spending money on a luxury apartment. The more you can save and invest now, the better off you'll be when it comes time to retire.
Orman also stated that the listener's logic is flawed regarding interest rates and cash reserves. The listener mentioned that by liquidating her assets and putting them in a bank with 3% interest, she could generate enough income to cover twice her parents' monthly expenses. However, Orman warns that assuming a steady 3% interest rate is risky.
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&#8220;How do you know what interest rates are going to be?&#8221; she asks. Orman states that if this listener had made a similar decision in 2007 before the <a href="https://www.benzinga.com/markets/24/10/41145356/billionaire-who-predicted-2008-crash-and-dot-com-bubble-calls-the-current-economy-the-most-vulnerabl">financial crisis</a>, she could have faced significant losses.
So, what's the solution for someone longing for a more vibrant, city-centered lifestyle? Orman suggests enjoying the best of both worlds without making a financial commitment that could backfire.&nbsp;
&#8220;If you want a swankier lifestyle, go there for the weekend and come back,&#8221; she advises. Renting a place for short visits allows you to experience the excitement of the city without the long-term financial strain of owning an expensive downtown apartment.
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Orman's advice is this: prioritize <a href="https://www.benzinga.com/personal-finance/24/09/40764819/think-youre-financially-secure-heres-how-much-people-say-it-takes-to-feel-secure-and-what-you-re">financial security</a>, especially when you're in an uncertain job situation. &#8220;At 40, if you lose your job, you get another job,&#8221; she says. But until you're in a more stable position, stick with the home you own outright, keep saving and investing, and leave the luxury upgrades for another time.
Are you in a similar position and considering upgrading your home to enjoy a better lifestyle? Then you may consider talking with a <a href="https://www.benzinga.com/money/best-online-financial-advisors">financial advisor</a>. They can help you navigate your finances and determine the best route that aligns with your long-term financial goals.&nbsp;
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Personal Finance

'More Expenses, More Taxes, More Everything': Suze Orman On The Risks Of Upgrading To A Swanky Apartment At 40

Electric-vehicle stocks had a down week amid stock market volatility, but China-based companies rode the momentum imparted by the stimulus measures announced by the country to kickstart economic growth. Market leader Tesla, Inc.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) rally stalled as traders did not take kindly to <a href="https://www.benzinga.com/news/24/10/41141444/tesla-stock-plunges-3-despite-q3-deliveries-exceeding-consensus-and-growing-year-over-year">third-quarter deliveries just about managing to beat the consensus estimate</a>.
Here&#8217;s a rundown on what happened in the EV space during the week:
Tesla Q3 Deliveries Beat And More: After two straight quarters of sales decline, Tesla turned things around in the September quarter. The company delivered 462,890 EVs in the third quarter, ahead of the company-compiled consensus estimate of 461,978 units. The quarterly number marked a 6.40% year-over-year increase and a 4.26% sequential rise. The stock fell 3.49% following the report and came under further pressure over the next two sessions before trimming the losses on Friday. 
The negative reaction may be due to the small sales beat or possibly due to the typical &#8220;buy the rumor, sell the news&#8221; phenomenon. The stock had ran up appreciably in the run-up to the deliveries report.
With the deliveries report now in the rearview mirror, investors have begun to shift their focus to the Oct. 10 Robotaxi event. Most sell-side analysts, especially the bulls, and the Tesla community is excited about the event, which is scheduled to be held at the Warner Bros. studio in Los Angeles after the market close. 
Offering his take on the event, Wedbush analyst Daniel Ives said, &#8220;We believe Robotaxi Day will be seminal and historical day for Musk and Tesla and marks a new chapter of growth around autonomous, FSD, and AI future at Tesla.&#8221; The analyst expects updates on Cybercab scaling, overall cost per mile, a Tesla ride-share app, and a Generation 1 demo on premises of the breakthrough technology designed to revolutionize urban transportation. Morgan Stanley analyst Adam Jonas expects robotaxis to have disruptive potential but believes the benefit will seep in only in the mid- to long-term.
Rivian Sales Miss Forecast: EV startup Rivian Automotive, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>) handed down its investors a double disappointment. The company&#8217;s third-quarter deliveries came in at 10,018 units, missing the consensus estimate of most analysts. The company cut its production outlook for the year from 57,000 units to 47,000-49,000 units, citing supply shortage, while it reaffirmed its annual deliveries goal of 50,500 to 52,000&nbsp;units.
Separately, Reuters reported that the company has applied for a federal loan to facilitate construction of its Georgia facility, which was stalled earlier this year due to the company&#8217;s focus on speeding up next-gen R2 EV production and to conserve cash. The report said the department hasn&#8217;t made a final decision on the filing. The filing did not disclose the requested amount or terms. 
See Also: <a href="https://www.benzinga.com/money/best-electric-vehicle-stocks">Best EV Stocks</a>
Nikola Reports Strong Deliveries: Shares of hydrogen- and fuel-cell vehicles manufacturer Nikola Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NKLA#NASDAQ">NKLA</a>) jumped about 20% on Wednesday after the company said it wholesaled 88 Class 8 hydrogen fuel-cell trucks in the third quarter. &#8220;This is a record sales quarter for Nikola, with 88 hydrogen fuel cell electric trucks wholesaled to our dealers for end customers, as well as the addition of a first-ever&nbsp;U.S. dealer-based HYLA modular refueling station,&#8221; said Nikola CEO Steve Girsky.
The company has delivered 200 trucks so far this year compared to its full-year guidance of 300-350 trucks.
Chevy EVs Lifts GM&#8217;s Sales: Legacy automakers General Motors Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) and Ford Motor Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) presented a contrasting picture with respect to their EV sales. While GM&#8217;s EV sales spiked 60% to 32,095 units in the third quarter, thanks to the strong uptake of its Chevrolet Equinox EV and Chevrolet Blazer EV. On the other hand, crosstown rival Ford&#8217;s climbed a more modest 12% to 23,509 EVs. Blue Oval&#8217;s hybrid vehicle sales, however, were more than three times as much.
Nio To Expand Global Footprint: China&#8217;s Nio, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NIO#NYSE">NIO</a>) announced late Friday that it has tied up with Abu Dhabi-based&nbsp;CYVN Holdings&nbsp;to <a href="https://www.benzinga.com/markets/equities/24/10/41195060/tesla-rival-nio-accelerates-global-expansion-to-launch-evs-in-middle-east-amid-eu-tariff-concern">launch the Nio MENA to launch Nio-branded vehicles and vehicles from its subsidiary</a> in the Middle East and North Africa. This will expand its footprint and integrate further into the &#8220;global smart EV ecosystem,&#8221; the Shanghai-based company said in a statement.
CYVN Holdings, which made an investment in Nio earlier this year, will support the company with strategic investments for the expansion. 
The KraneShares Electric Vehicles and Future Mobility&nbsp;Index ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KARS#NYSE">KARS</a>) rose 3.08% on Friday before ending at $23.77, according to <a href="https://benzinga.grsm.io/lxquj26b2sag">Benzinga Pro data</a>. For the week, the ETF raced 5.60% higher.
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>.
Read Next:
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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41157836/teslas-cybercabs-could-be-a-potential-ride-sharing-disruptor-says-analyst-heres-wha">Tesla&#8217;s &#8216;Cybercabs&#8217; Could Be A Potential Ride-Sharing Disruptor, Says Analyst: Here&#8217;s What Investors Can Expect At Oct 10 Robotaxi Event</a></li>
</ul>

Here&#8217;s how the EV stocks fared this week:
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td></td>
<td>Weekly Change (+/-)</td>
</tr>
<tr>
<td>Tesla</td>
<td>-3.99%</td>
</tr>
<tr>
<td>Nio</td>
<td>+3.83%</td>
</tr>
<tr>
<td>XPeng, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPEV#NYSE">XPEV</a>)</td>
<td>+0.71%</td>
</tr>
<tr>
<td>Li Auto, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LI#NASDAQ">LI</a>)</td>
<td>+13.58%</td>
</tr>
<tr>
<td>Workhorse, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WKHS#NASDAQ">WKHS</a>)</td>
<td>-14.69%</td>
</tr>
<tr>
<td>Hyzon Motors, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HYZN#NASDAQ">HYZN</a>)</td>
<td>-14.18%</td>
</tr>
<tr>
<td>Canoo</td>
<td>-7.70%</td>
</tr>
<tr>
<td>Rivian </td>
<td>-10.00%</td>
</tr>
<tr>
<td>Lucid Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LCID#NASDAQ">LCID</a>)</td>
<td>-6.96%</td>
</tr>
<tr>
<td>Faraday Future </td>
<td>-2.88%</td>
</tr>
<tr>
<td>Nikola Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NKLA#NASDAQ">NKLA</a>)</td>
<td>+17.25%</td>
</tr>
<tr>
<td>VinFast Auto Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VFS#NASDAQ">VFS</a>)</td>
<td>-2.81%</td>
</tr>
</tbody>
</table>
</figure>

Analyst Color

HYZN

KARS

LCID

NKLA

RIVN

TSLA

WKHS

XPEV

Tesla Robotaxi Buzz Soars Ahead Of Thursday Event, Rivian Seeks DOE Loan For Georgia Plant, Nikola Thumps Estimates And More: Biggest EV Stories Of The Week

A new Benzinga poll pitted Warren Buffett, Elon Musk, and other renowned investors against each other, asking readers to decide who they would trust to turn $1,000 into $100,000 the fastest based on their past <a href="https://www.benzinga.com/top-stories/24/08/40604676/warren-buffetts-berkshire-hathaway-breaks-1-trillion-poll-points-to-big-pharma-not-tech-as-next-cont">and current investment track </a>records.
What Happened: Elon Musk has helped transform SpaceX and Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) into<a href="https://www.benzinga.com/general/education/24/06/39547388/happy-birthday-elon-musk-53-facts-and-figures-about-tesla-spacex-ceo-on-his-53rd-birthday"> two of the most valuable companies</a> in the world, which might explain why investors continue to believe in his companies and future growth initiatives.
This might also explain why Musk won a recent Benzinga reader poll.
"If you gave them $1,000, who could turn it into $100,000 the fastest?" Benzinga asked.
Here were the results:
<ul>
<li>Elon Musk: 42%</li>
<li>Warren Buffett: 25%</li>
<li>Mark Cuban: 19%</li>
<li>Peter Thiel: 15%</li>
</ul>
The poll found that Musk was the pick for investors to give $1,000 to and turn it into $100,000 the quickest. Buffett ranked a distant second at 25% of the vote.
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</ul>
Why It's Important: The results come as Tesla is one of the top-performing stocks of the last five years, up 1,520.7%. The stock is also up 1,459.9% over the previous 10 years.
Berkshire Hathaway Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) stock has increased by 122% over the last five years and 233.9% over the last 10 years. While Berkshire Hathaway stock has trailed Tesla&#8217;s performance in recent years, the company and Buffett have a<a href="https://www.benzinga.com/top-stories/24/08/40604676/warren-buffetts-berkshire-hathaway-breaks-1-trillion-poll-points-to-big-pharma-not-tech-as-next-cont"> long history of beating </a>the S&amp;P 500.
Musk has also proven successful with his SpaceX company, valued at<a href="https://www.benzinga.com/news/24/06/39516906/elon-musks-spacex-set-for-record-210b-valuation-in-tender-offer-but-still-valued-less-than-tiktok-re"> a reported $210 billion</a> earlier this year.
Being the world's richest person likely strengthens Musk's appeal as the investor people would trust to generate the highest returns on their money.
Of course, Musk did pay $44 billion for Twitter, now known as X, and most valuation metrics, like Fidelity's for a mutual fund, point to a lower valuation, <a href="https://www.benzinga.com/news/24/10/41142828/elon-musk-bought-x-for-44b-now-fidelity-values-social-media-network-below-10b">like $9.4 billion.</a>
Thiel has been successful with connections to PayPal, Palantir and Founders Fund and was also the first outside investor for Facebook.
Cuban has been successful selling businesses, investing in businesses on Shark Tank, buying the NBA's Dallas Mavericks and recently selling a stake for a nice return on investment.
The poll contrasts with one <a href="https://www.benzinga.com/top-stories/24/08/40423891/buffett-musk-wood-cuban-or-ackman-who-do-investors-trust-most-with-life-savings-poll-shows-it-isnt-e">conducted in August</a>, where investors were asked who they would trust with their life savings. In that survey, Buffett secured 58% of the vote, while Musk and Cuban tied for second place, each receiving 11%.
The results of the two polls may show that investors are more likely to invest a smaller amount in Musk as a high-risk/high-return play, but if it comes to investing their life savings, they prefer the safety and long-running history of market-beating returns from Buffett.
The study was conducted by Benzinga from Sept. 30 through Oct. 2, 2024, and included the responses of a diverse population of adults 18 or older. Opting into the survey was completely voluntary, with no incentives offered to potential respondents. The study reflects results from 130 adults.
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</ul>
Image created using artificial intelligence via Midjourney.

Exclusives

Trading Ideas

Musk vs. Buffett: Which Investor Do Benzinga Readers Trust To Turn $1,000 Into $100,000 Faster?

Billionaire entrepreneur <a href="https://www.benzinga.com/topic/mark-cuban">Mark Cuban</a> has never been one to stay quiet, especially regarding the U.S. Securities and Exchange Commission (SEC). Recently, Cuban made waves by saying he'd gladly take over the role of SEC Chair from Gary Gensler.&nbsp;
His reason? Cuban simply wants to shake things up and isn't a fan of how Gensler handles the job, particularly when it comes to regulating cryptocurrencies. &#8220;Head of the SEC. That&#8217;s the job I would take,&#8221; <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/41046084/mark-cuban-as-treasury-secretary-no-head-of-the-sec-is-the-job-hed-take-because-gary-gensl">Cuban said bluntly</a>.
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However, Cuban explained in a recent <a href="https://www.youtube.com/watch?v=RhkQQn6ahsk">podcast</a> that he wasn&#8217;t genuinely serious about the position and that his statement was mostly to express his displeasure with Gensler&#8217;s leadership. &#8220;I put that out there on the SEC because I wanted to f&#x2A;&#x2A;&#x2A; with Gary Gensler,&#8221; Cuban remarked, sending shock waves through the business world as many thought he was serious about his SEC ambitions.
&#8220;You&#8217;re not going to see me in politics,&#8221; he added, emphasizing that his focus remains on his businesses, not government roles – &#8220;when it&#8217;s all said and done, costplusdrugs.com that&#8217;s hopefully going to be my legacy.&#8221;
Trending: Mark Cuban believes &#8220;the next wave of revenue generation is around real estate and entertainment&#8221; —<a href="https://www.benzinga.com/money/bezos-landlord-100-dollars"> this new real estate fund allows you to get started with just $100.</a>
Cuban has been vocal about his dislike for how the SEC operates, especially regarding cryptocurrency regulation. He thinks the SEC's policies under Gary Gensler are "awful" and hold back innovation in industries like crypto. In Cuban's view, the SEC seems more interested in winning legal battles than protecting regular investors.
<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">If <a href="https://twitter.com/JoeBiden?ref_src=twsrc%5Etfw">@joebiden</a> loses, there is a good chance you will be able to thank <a href="https://twitter.com/GaryGensler?ref_src=twsrc%5Etfw">@GaryGensler</a> and the <a href="https://twitter.com/NewYork_SEC?ref_src=twsrc%5Etfw">@NewYork_SEC</a> Crypto is a mainstay with younger and independent voters. Gensler HAS NOT PROTECTED A SINGLE INVESTOR AGAINST FRAUD All he has done is make it nearly impossible for… <a href="https://t.co/uBKupxLhS9">https://t.co/uBKupxLhS9</a>
&mdash; Mark Cuban (@mcuban) <a href="https://twitter.com/mcuban/status/1789037772050702824?ref_src=twsrc%5Etfw">May 10, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
<a href="https://www.benzinga.com/personal-finance/24/08/40626939/mark-cuban-slams-the-sec-for-being-a-mess-and-only-caring-about-wall-street-i-wouldnt-trust-them">During a Reddit AMA in 2021</a>, Cuban called the SEC a "mess" and accused the agency of working more for Wall Street than the average person, saying, &#8220;The SEC is a mess. I wouldn&#8217;t trust them to do the right thing ever. It&#8217;s an agency built by and for lawyers to be lawyers and win cases rather than do the right thing.&#8221;
Trending: Beating the market through ethical real estate investing' — t<a href="https://www.benzinga.com/money/invest-with-roots">his platform aims to give tenants equity in the homes they live in while scoring 17.17% average annual returns for investors – here&#8217;s how to join with just $100</a>
As Cuban backtracked on his SEC role comments, he reiterated that his focus remains on business ventures like Cost Plus Drugs, an online pharmacy he's passionate about. Cuban sees his legacy more in disrupting the health care industry for the better, stating, &#8220;I screwed up the entire health care system for the better so that everybody could start affording their health care and their medications."
Still, his dissatisfaction with the SEC is clear, and his feud with Gensler reflects his broader frustration with the agency's approach. Cuban has also <a href="https://www.benzinga.com/startups/24/09/40855223/mark-cuban-praises-kamala-harris-support-for-business-is-her-new-tax-plan-a-game-changer">praised Vice President Kamala Harris</a> for her stance on emerging technologies, contrasting it sharply with Gensler's leadership. He sees Harris as thorough and open-minded, which led him to <a href="https://www.benzinga.com/general/entertainment/24/09/41052701/mark-cuban-compares-kamala-harris-rise-in-2024-election-polls-betting-odds-to-new-ceo-that-">publicly support her in the 2024 election</a>.
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Startups

'I Wanted To F*** With Gary Gensler,' Says Mark Cuban About His SEC Head Aspirations – 'You're Not Going To See Me In Politics'

Facebook and Meta founder Mark Zuckerberg is exploring the idea of selling his own range of Classics-inspired graphic T-shirts, with Meta&#8217;s Instagram being a <a href="https://www.benzinga.com/news/24/09/41079963/decoding-zuckerbergs-efficiency-mantra-a-wifi-password-speaks-volumes">potential sales platform</a>.
What Happened: Zuckerberg&#8217;s sartorial preferences have been in the spotlight since 2023. He is now mulling over the possibility of making his new attire available for purchase on Instagram.
In a conversation with Pubity, Zuckerberg disclosed that he&#8217;s been toying with the idea of selling t-shirts akin to the ones he&#8217;s been donning recently, which are influenced by Greek and Roman history. 
He sported a black t-shirt with the Latin phrase &#8220;Aut Zuck aut nihil&#8221; at the Meta Connect keynote on September 25, which means &#8220;Zuck or nothing,&#8221; <a href="https://www.businessinsider.in/tech/news/mark-zuckerberg-is-leaning-into-his-fashion-era-and-considering-selling-classics-inspired-t-shirts/articleshow/113949749.cms">reports</a> Business Insider.
&#8220;I&#8217;ve been playing around with the idea of whether I should sell these on my Instagram page as, like, limited drops,&#8221; Zuckerberg told the outlet. 
Also Read: <a href="https://www.benzinga.com/news/24/09/40969847/mark-zuckerberg-flaunts-watches-valued-at-a-cybertrucks-price">Mark Zuckerberg Flaunts Watches Valued at a Cybertruck&#8217;s Price</a>
This initiative would also provide him with the opportunity to test Instagram&#8217;s shopping feature as a seller and gain firsthand knowledge of how businesses utilize the platform.
Zuckerberg is said to be collaborating with fashion designer Mike Amiri to create his own clothing line, although it remains uncertain if these designs will be accessible to the public.
Why It Matters: Zuckerberg&#8217;s move to sell his own clothing line on Instagram could potentially boost the platform&#8217;s shopping feature, providing a real-world example of its use by high-profile individuals. 
This could inspire other businesses to leverage the platform for their sales, leading to increased usage and revenue for Instagram. 
Furthermore, it would provide Zuckerberg with valuable insights into the user experience of Instagram&#8217;s shopping feature, which could inform future improvements and enhancements.
Read Next
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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.

Social Media

From Tech To Tees: Meta's Zuckerberg May Launching Clothing Line On Instagram

Silicon Valley billionaire and venture capitalist <a href="https://www.benzinga.com/news/24/09/41086806/elon-musk-mocks-vinod-khosla-after-openai-investor-mixes-up-argentinas-poverty-and-unemployment-rate">Vinod Khosla</a> has issued a bold prediction: artificial intelligence (AI) will replace most human jobs over the next 25 years.&nbsp;
In a recent blog post, Khosla wrote about the implications of AI and warned that "80% of 80% of all jobs, maybe more, can be done by AI, be it primary care doctors, psychiatrists, sales people, oncologists, farmworkers or assembly line workers, structural engineers, chip designers, you name it."
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Khosla's experience gives weight to his predictions. He cofounded Sun Microsystems and has invested heavily in tech giants like Amazon, Google and <a href="https://www.benzinga.com/news/24/09/41078513/openai-plans-to-more-than-double-chatgpt-price-over-next-5-years-report">OpenAI</a>. He has also spent over four decades studying disruptive technology and believes that AI will do most jobs "better, faster and cheaper" than humans, drastically changing the labor market.&nbsp;
<h2 class="wp-block-heading">A World Without Jobs</h2>
According to his blog, Khosla says that AI will create a world where human labor isn't necessary for most tasks. It can assist with and perform tasks like assembly line work, investment banking and even medical diagnosis.&nbsp;
Trending: The global games market is projected to generate $272B by the end of the year —<a href="https://www.benzinga.com/money/gameflip"> for $0.55/share, this VC-backed startup with a 7M+ userbase gives investors easy access to this asset market.</a>
The warnings Khosla discusses surrounding AI aren't meant to spread fear but to advocate for proactive solutions as our world heads in this direction. He talks about the risk of an "economic dystopia," where wealth becomes increasingly concentrated at the top – more so than it is now – and both intellectual and physical labor lose their value.&nbsp;
Khosla states that if governments don't proactively identify this problem and devise solutions for AI taking over jobs, millions could face <a href="https://www.benzinga.com/markets/equities/24/09/40760261/biden-administration-says-unemployment-is-low-but-do-americans-see-it-that-way">unemployment</a>.&nbsp;
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<h2 class="wp-block-heading">The Case for Universal Basic Income (UBI)</h2>
According to Khosla, universal basic income (UBI) is one solution to the looming AI job crisis. UBI is a government program that regularly provides every adult citizen with a set amount of money to help alleviate poverty.&nbsp;
Khosla believes that UBI will become essential as AI replaces jobs. It can provide a safety net for those whose jobs become automated. "As AI reduces the need for human labor, UBI could become crucial, with governments playing a key role in regulating AI's impact and ensuring equitable wealth distribution," he wrote.
The concept of UBI isn't new, but it has gained renewed attention as automation accelerates. Khosla joins a growing list of Silicon Valley figures, including Sam Altman and Mark Zuckerberg, who advocate for UBI to cushion the economic disruption caused by AI.
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<h2 class="wp-block-heading">A Shorter Workweek and More Meaningful Life</h2>
While Khosla spoke about AI&#8217;s challenges, he also presented several upsides, one of which is a shorter workweek. He envisions a world where AI handles mundane, labor-intensive jobs, freeing people up to take on more fulfilling activities. He believes that with the right policies, AI could bring about a three-day workweek, where people can focus more on hobbies, spend time with loved ones and enjoy life more.&nbsp;
"Life won't become less meaningful once we eradicate undesirable, toil-intensive jobs," he wrote. "Quite the opposite – life will become more meaningful as the need to work 40 hours per week could disappear within a few decades for those countries that adapt to these technologies."
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<h2 class="wp-block-heading">The Debate Continues</h2>
Many other prominent tech figures have made predictions about AI that align closely with Khosla's vision. <a href="https://www.benzinga.com/personal-finance/24/10/41145078/billionaire-bill-gates-has-a-bold-plan-to-shrink-the-wealth-of-the-rich-heres-how-he-intends-to-">Bill Gates</a> has also suggested that AI will lead to a three-day workweek. Elon Musk has gone further, predicting that work could become more of a "hobby" as AI handles the heavy lifting.
Despite these predictions, history has shown that technological advancements don't always mean less work. Economist John Maynard Keynes famously predicted in 1930 that people would be working only 15 hours per week in a century, thanks to improvements in productivity. As 2030 approaches, many people still engage in 40-hour workweeks, often more.
AI will continue to advance, and the future of work will change. An AI-driven economy may be inevitable, but how we handle this societal shift will determine whether these changes lead to widespread prosperity or deeper inequality.&nbsp;
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AI Will Do Most Jobs 'Better, Faster, Cheaper': Silicon Valley Billionaire Vinod Khosla Calls For Universal Basic Income

Donald Trump has proposed that Israel should focus on Iran&#8217;s nuclear facilities amidst its <a href="https://www.benzinga.com/news/24/10/41143156/oil-prices-spike-energy-stocks-jump-after-irans-missile-attack-on-israel-what-investors-need-to-know">rocket attacks on Israel</a>.
What Happened: On Friday, Trump voiced these views at a town hall gathering in Fayetteville, North Carolina. His statements come after Iran fired nearly 200 missiles at Israel earlier this week.
At present, Israel is engaged in conflicts with Iranian proxies in Lebanon and Syria, besides its ground operations in Gaza.
Trump expressed dissatisfaction with the current administration&#8217;s handling of the crisis, specifically President Joe Biden&#8216;s counsel against targeting Iran&#8217;s nuclear program, The Jerusalem Post <a href="https://www.jpost.com/breaking-news/article-823243">reported</a>.
He contended that the Israeli Defense Forces should concentrate on incapacitating Iran&#8217;s nuclear capabilities rather than chasing regular military targets.
Trump slammed Biden&#8217;s stance on the ongoing conflict and said, &#8220;They asked him, what do you think about, what do you think about Iran? Would you hit Iran? And he goes, "As long as they don't hit the nuclear stuff."
&#8220;That's the thing you want to hit, right? I said, I think he's got that one wrong. Isn't that what you're supposed to hit?" I mean, it's the most, it's the biggest risk. We have nuclear weapons, the power of nuclear weapons – the power of weaponry,&#8221; Trump added. 
Also Read: <a href="https://www.benzinga.com/news/24/10/41177621/netanyahu-may-have-bugged-my-toilet-says-former-uk-pm-boris-johnson-they-found-a-listening-device-in">Netanyahu May Have Bugged My Toilet, Says Former UK PM Boris Johnson: &#8216;They Found A Listening Device In The Thunderbox&#8217;</a>
Trump also said, &#8220;You know, I rebuilt the entire military jets, everything I built it, including nuclear, and I hated to build the nuclear. But I got to know firsthand the power of that stuff, and I'll tell you what, we have to be totally prepared. We have to be absolutely prepared.&#8221; 
&#8220;But when they asked him that question, the answer should have been hit the nuclear first and worry about the rest later. And that's why they should, if they're going to do it, if they're going to do it, they're going to do it, but we'll find out whatever their plans are,&#8221; he continued. 
Trump&#8217;s comments highlight his conviction that the nuclear facilities present the most significant threat. He implied that if Israel chooses to retaliate, it should prioritize striking the nuclear infrastructure first and address the rest later.
The former president&#8217;s remarks have intensified the already escalating tensions in the Middle East, with the global community keenly observing how the situation will evolve.
Why It Matters: Trump&#8217;s comments add a new dimension to the ongoing Middle East conflict, emphasizing the potential threat posed by Iran&#8217;s nuclear capabilities. 
His stance contrasts with the current administration&#8217;s approach, potentially influencing future diplomatic and military strategies in the region. 
The global community&#8217;s response to these developments could significantly impact the geopolitical landscape and the future of nuclear non-proliferation efforts.
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This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Trump Urges Israel To Target Iran Nuke Sites: 'Hit Nuclear First And Worry About The Rest Later'

Known best as the former CEO and co-founder of Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), Steve Jobs created some of the most visionary products of the <a href="https://www.benzinga.com/general/education/23/09/34704049/if-you-invested-in-apple-stock-instead-of-buying-iphones-each-year-heres-how-much-youd-have-tod">past 30 years.</a>
The late Apple co-founder also had some unique habits, including one that centered on his automobiles.
What Happened: Jobs is best remembered as a brilliant leader <a href="https://www.benzinga.com/news/23/10/35119619/tim-cooks-emotional-tribute-to-mentor-and-friend-honoring-steve-jobs-a-visionary-who-changed-the-wor">and tech visionary.</a>
For several years, Jobs had a unique habit of switching to a new vehicle of the same model and color every six months.
As <a href="https://www.autoweek.com/car-life/but-wait-theres-more/a1704461/heres-why-steve-jobs-got-same-new-car-every-six-months/" target="_blank" rel="noopener">Autoweek</a> shared, the Apple co-founder bought a new car every six months for decades.
Jobs would buy a black Porsche 911 and replace it six months later with the same Porsche 911. Jobs did this for many years before switching over to the Mercedes-Benz SL55.
According to the report, Jobs did this because he hated license plates.
At one point, the state of California did not require new vehicles to have a license plate for up to six months. Therefore, Jobs would lease a new vehicle every six months and then switch to a new model—a move that wouldn&#8217;t require him to ever need a license plate.
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The Loophole Ended Years Later: What would become known as the &#8220;Steve Jobs Loophole,&#8221; was eventually&nbsp;<a href="https://www.autoweek.com/car-life/but-wait-theres-more/a1713416/california-closes-steve-jobs-loophole-license-plate-will-require-temp/" target="_blank" rel="noreferrer noopener">ended&nbsp;</a>in January 2019.
The state of California made the switch to temporary license plates required at the time of a new vehicle sale. Under the new rule, the temporary license plates had to be replaced with real license plates for the front and back of the vehicles in the state.
Before 2019, the period was also cut down to three months without license plates required, which came after Jobs&#8217; death. So, we will never know if Jobs had made the move to have a new vehicle every three months before the loophole&#8217;s full end.
Jobs<a href="https://www.benzinga.com/general/education/23/06/33049968/if-you-invested-1-000-in-apple-stock-when-tim-cook-became-the-ceo-heres-how-much-youd-have-now" target="_blank" rel="noreferrer noopener"> served as the CEO of Apple </a>from 1997 until 2011, when he stepped down in August and chose Tim Cook to replace him. The move came two months before Jobs's death.
During his time at the helm of Apple, Jobs was known for many things, including the&nbsp;<a href="https://www.benzinga.com/general/education/23/09/34704049/if-you-invested-in-apple-stock-instead-of-buying-iphones-each-year-heres-how-much-youd-have-tod" target="_blank" rel="noreferrer noopener">introduction of the iPhone</a>&nbsp;— one of the most important products in the company's history.
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This article was previously published by Benzinga and has been updated.
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Education

AAPL

Apple Founder Steve Jobs Swapped Porsches Every 6 Months – Here's Why

<a href="https://www.benzinga.com/topic/kevin-oleary">Kevin O'Leary</a>, a well-known investor and star of Shark Tank, appeared on <a href="https://www.youtube.com/watch?v=8KJ8YVNYM9Y">Fox Business</a> to share his strong views on the state of the American economy. During a contentious debate, O&#8217;Leary vehemently defended the American dream, voicing his displeasure with Vice President Kamala Harris&#8217;s recent comments that seemed to diminish it.
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When speaking at the Congressional Hispanic Caucus Leadership Conference, Harris said that the &#8220;American dream is elusive for far too many people.&#8221;&nbsp;
The American dream is still alive and well, according to O&#8217;Leary, who made this point clear by citing his investments in successful companies. "I'm the guy that invests in businesses with 5 to 500 employees, and we are on fire!" O'Leary exclaimed. He asserts that private industry is still booming and that entrepreneurship – not government intervention – may spur economic growth.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">It's NOT true that the American dream is dead. I know that it's working. I deal with it every day. I'm the guy that invests in small businesses that make up 60% of jobs. We are on fire! <a href="https://t.co/XzIvjpeINg">pic.twitter.com/XzIvjpeINg</a>
&mdash; Kevin O&#39;Leary aka Mr. Wonderful (@kevinolearytv) <a href="https://twitter.com/kevinolearytv/status/1839659092459008279?ref_src=twsrc%5Etfw">September 27, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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&#8220;Our number one export in America is not a product, service, good technology, mining, minerals or metals. It&#8217;s the American dream. I live that,&#8221; shared O&#8217;Leary. He argued that the U.S. economy has thrived for over 200 years because of its commitment to economic freedom and the private sector.&nbsp;
The Shark Tank star, who has <a href="https://www.benzinga.com/startups/24/08/40557261/the-stupid-idea-that-made-kevin-oleary-a-massive-20x-return-it-was-such-a-crazy-pitch-i-bought-it-an">invested in numerous startups and growing companies</a>, emphasized that the American dream continues to be the driving force behind people risking everything to come to the United States and pursue success. &#8220;<a href="https://www.benzinga.com/personal-finance/24/09/40692513/theres-a-reason-people-go-through-barbed-wire-to-get-here-says-kevin-oleary-we-cant-afford-polic">People risk their lives to crawl under barbed wire</a> and rivers to come here. We never ever, ever want to lose that,&#8221; he said.
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Despite acknowledging the nation&#8217;s economic difficulties, O&#8217;Leary is adamant that allowing businesses to prosper through fewer restrictions and lower taxes is the way to solve the problem. He emphasized that small enterprises, the economy&#8217;s foundation, can spearhead the recovery provided they are not overburdened by red tape.
He said, &#8220;Private capital, like me and millions of others, makes our own decisions every day – millions of decisions that determine the outcome of an economy that&#8217;s already proven.&#8221;
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Even though Vice President Harris has started doing longer interviews, O&#8217;Leary pointed out that more work still needs to be done. He said she had done well with her &#8220;all sugar, no protein strategy of Kumbaya&#8221; and gained many female votes. Still, she now faces the challenge of appealing to male voters, particularly those in key battleground states like Michigan and Pennsylvania.
O&#8217;Leary noted that it would be critical to address the serious concerns many men and women have about <a href="https://www.benzinga.com/general/24/02/37037283/it-is-becoming-increasingly-harder-to-live-in-america-kevin-oleary-says-cost-of-living-is-a-problem">rising </a>living expenses. He also stated that when Harris faces follow-up interview questions, her responses become unclear, which he called &#8220;verbal soup.&#8221;&nbsp;
&#8220;Trump has lots of problems, too. He sometimes runs on too long, and he&#8217;s bombastic, but she&#8217;s got verbal soup,&#8221; he said.
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Kevin O'Leary Defends The American Dream On Fox Business – 'I'm The Guy That Invests In Businesses 5 To 500 Employees, We Are On Fire!'

Hurricane <a href="https://www.benzinga.com/topic/hurricanes" target="_blank" rel="noreferrer noopener">Helene</a> has left a devastating mark on the Southeast, prompting urgent federal responses and highlighting stark political divides as<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41145534/hurricane-helene-adds-to-most-active-quarter-for-power-outages-driving-back-up-gene" target="_blank" rel="noreferrer noopener"> communities struggle to recover</a>.
Vice President <a href="https://www.benzinga.com/topic/kamala-harris" target="_blank" rel="noreferrer noopener">Kamala Harris</a> is visiting North Carolina to support the state&#8217;s recovery efforts following Hurricane Helene. Her trip comes just a day after Former President <a href="https://www.benzinga.com/topic/donald-trump" target="_blank" rel="noreferrer noopener">Donald Trump</a><a href="https://www.benzinga.com/topic/donald-trump" target="_blank" rel="noreferrer noopener">&#8216;s</a> visit, during which he reportedly made misleading claims about the federal response to the disaster, <a href="https://apnews.com/article/kamala-harris-democrats-hurricane-helene-13475a09f3fed719a1b451105ab15ccf" target="_blank" rel="noreferrer noopener">according </a>to AP News.
On Friday, White House Senior Deputy Press Secretary Andrew Bates issued a memo calling these accusations &#8220;bald-faced lies.&#8221; This exchange highlights the contrasting narratives from both parties regarding the storm&#8217;s aftermath. President Joe Biden also toured the affected areas, spending two days in the Carolinas, Florida, and Georgia to assess the damage and meet with farmers whose crops were devastated by the hurricane.
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Biden has mobilized 1,000 active-duty soldiers to support the 6,000 National Guard members and 4,800 federal aid workers who are currently working in six states impacted by the severe weather, BBC News <a href="https://www.bbc.com/news/articles/cgmgz3elmjxo" target="_blank" rel="noreferrer noopener">reported</a>.
Meanwhile, in a <a href="https://www.whitehouse.gov/briefing-room/statements-releases/2024/10/04/letter-to-congress-on-disaster-needs/" target="_blank" rel="noreferrer noopener">letter</a> sent late Friday to congressional leaders, Biden urges Congress to provide immediate federal assistance to communities impacted by Hurricane Helene. He warns of an impending funding shortfall for the Small Business Administration&#8217;s disaster loan program. Biden also requests additional resources for FEMA&#8217;s Disaster Relief Fund to ensure continued recovery efforts. Furthermore, he underscores the importance of comprehensive disaster relief for other communities nationwide that are also in need.
Gov. Roy Cooper (D-N.C.) announced this week that over 50,000 individuals have registered for FEMA assistance, with approximately $6 million already disbursed, AP News added.
At least 223 individuals have lost their lives, and hundreds are still unaccounted for due to the devastation caused by Hurricane Helene, which made landfall in Florida on September 26, <a href="https://www.nbcnews.com/news/weather/live-blog/hurricane-helene-live-updates-rcna173973" target="_blank" rel="noreferrer noopener">reported</a> NBC News. Over a week later, many residents and communities continue to be cut off, hundreds of thousands are without electricity, and inconsistent service has complicated communication.
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Harris To Survey Helene Impact In North Carolina One Day After Trump Visit

Prominent venture capitalist Ben Horowitz intends to financially support Kamala Harris&#8216; presidential campaign – a move that comes on the heels of his recent financial support for political action committees that favor <a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39445667/trumps-presidential-campaign-receives-over-limit-bitcoin-donation-from-winklevoss-twins">Donald Trump&#8216;s presidential bid</a>.
What Happened: Horowitz and his wife have committed to making a &#8220;significant donation&#8221; to entities backing the Harris-Walz campaign.
The venture capitalist, a co-founder of the firm Andreessen Horowitz, disclosed this in a letter to his employees. In the letter, he stated that he and his wife have been friends with Harris for over a decade.
According to a report <a href="https://www.axios.com/2024/10/04/ben-horowitz-endorse-kamala-harris">by</a> Axios, a person close to the firm confirmed the contents of the letter.
"I wanted to give you an update on my political activity. As I mentioned before, Felicia and I have known Vice President Harris for over 10 years and she has been a great friend to both of us during that time," Horowitz wrote in the letter. 
Also Read: <a href="https://www.benzinga.com/news/24/09/40971646/harris-vs-trump-kamala-harris-leads-in-fundraising-as-wall-street-silicon-valley-boost-her">Harris Vs Trump: Kamala Harris Leads In Fundraising As Wall Street, Silicon Valley Boost Her</a>
"As a result of our friendship, Felicia and I will be making a significant donation to entities who support the Harris Walz campaign," he also added in the letter. 
Despite their previous financial support for Trump&#8217;s campaign, Andreessen Horowitz has not officially endorsed any candidate for the 2024 election. The firm&#8217;s backing for Trump was linked to what they described as a superior &#8220;little tech agenda.&#8221;
Horowitz voiced his optimism about Harris after engaging in discussions with her and her team. However, he pointed out that her tech policy is still to be unveiled, and as such, the firm will not revise its position on that issue.
Why It Matters: The decision by Horowitz to back Harris&#8217; campaign marks a significant shift in his political leanings. 
His previous support for Trump&#8217;s PACs had been linked to the former president&#8217;s tech policies, which Andreessen Horowitz found favorable. 
However, with Harris&#8217; tech policy yet to be announced, it remains to be seen how this will influence the firm&#8217;s political endorsements moving forward.
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<a href="https://www.benzinga.com/news/24/08/40544248/kamala-harris-campaign-achieves-historic-540m-milestone-raised-since-biden-exit">Kamala Harris&#8217; Campaign Achieves Historic $540M Milestone Raised Since Biden Exit</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: 
Image: Wikimedia Commons

VC Ben Horowitz First Endorsed Donald Trump, Now Pledges Support For Kamala Harris

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.
Stocks rocketed higher on Friday as fresh data revealed nonfarm payrolls surged by 254,000 in September. The unemployment rate slipped to 4.1%, defying projections that it would hold steady at 4.2%.
The S&amp;P 500 climbed 0.22% for the week, while the Dow eked out a 0.09% gain. The Nasdaq, despite entering Friday with losses exceeding 1%, managed a 0.1% weekly rise, marking a notable turnaround.
Crude oil prices jumped again on Friday, capping off a nearly 9% weekly gain. The surge came amid heightened tensions in the Middle East, following Iran's missile attack on Israel.
Chinese tech stocks, represented by the iShares MSCI China ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MCHI#NASDAQ">MCHI</a>), enjoyed another week of strong gains, driven by growing enthusiasm <a href="https://www.benzinga.com/markets/asia/24/10/41192510/labor-market-surprises-with-strength-energy-stocks-rally-on-israel-iran-tensions-chinese-tech-giants">for domestic stimulus efforts.</a>
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/news/24/10/41156900/nvidia-ceo-jensen-huang-says-demand-for-next-gen-blackwell-gpu-platform-insane-everyone-wants-to-hav">&#8220;Nvidia CEO Jensen Huang Says Demand For Next-Gen Blackwell GPU Platform Insane: &#8216;Everyone Wants To Have The Most, And Everyone Wants To Be First,'&#8221;</a> by <a href="https://www.benzinga.com/author/ananya-gairola">Ananya Gairola</a>, reports that Nvidia Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) CEO Jensen Huang highlighted the overwhelming demand for the new Blackwell GPU platform, confirming it is in full production and expected to drive significant revenue growth despite investor concerns over delays.
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41136347/is-dogecoins-bullish-momentum-over-after-18-retreat-from-recent-highs-not-yet-say-a">&#8220;Is Dogecoin&#8217;s Bullish Momentum Over After 18% Retreat From Recent Highs? Not Yet, Say Analysts,&#8221;</a> by <a href="https://www.benzinga.com/author/aniket-verma">Aniket Verma</a>, highlights that despite Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) experiencing an 18% drop, analysts like Santiment and Ali Martinez believe its bullish potential remains strong, citing increased whale activity and technical signals of further upside.
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/41100053/apples-iphone-16-pro-demand-correction-in-sight-analyst-highlights-delivery-trends-">&#8220;Apple&#8217;s iPhone 16 Pro Demand Correction In Sight: Analyst Highlights Delivery Trends Across Global Markets,&#8221;</a> by <a href="https://www.benzinga.com/author/anusuya-lahiri-0">Anusuya Lahiri</a>, reports that a JPMorgan analyst sees stabilizing delivery times for Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) iPhone 16 Pro models, indicating a demand correction ahead, as lead times for base models moderate across key markets like the U.S., China, and Europe.
For additional bullish calls of the past week, check out the following:
<a href="https://www.benzinga.com/general/entertainment/24/10/41162458/amazon-ceo-andy-jassy-said-prime-video-will-have-meaningfully-fewer-ads-than-rivals-2-month">Amazon CEO Andy Jassy Said Prime Video Will Have &#8216;Meaningfully Fewer Ads&#8217; Than Rivals. 2 Months Later, Streaming Giant Is Reportedly Set To Get More Ads</a>
<a href="https://www.benzinga.com/trading-ideas/technicals/24/09/41096549/cisco-set-for-technical-breakout-as-golden-cross-signals-strength-analyst-predicts-stock">Cisco Set For Technical Breakout As Golden Cross Signals Strength: Analyst Predicts Stock Will &#8216;Quietly&#8217; Climb Higher</a>
<a href="https://www.benzinga.com/markets/equities/24/10/41135042/reliable-tesla-number-cruncher-forecasts-biggest-delivery-beat-in-3-years-fund-manager-says-this">Reliable Tesla Number Cruncher Forecasts Biggest Delivery Beat In 3 Years: Fund Manager Says This Could Change The Stock&#8217;s Narrative</a>
The Bears
<a href="https://www.benzinga.com/general/social-media/24/10/41189534/spirit-airlines-bankruptcy-chatter-has-critics-blaming-biden-heres-what-history-shows-about-">&#8220;Spirit Airlines Bankruptcy Chatter Has Critics Blaming Biden: Here&#8217;s What History Shows About Carrier Mergers,&#8221;</a> by <a href="https://www.benzinga.com/author/anthony-noto-0">Anthony Noto</a>, explores how Spirit Airlines, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAVE#NYSE">SAVE</a>) is in bankruptcy talks, with critics blaming the blocked JetBlue merger, while history shows that mergers in the airline industry often lead to job losses regardless of financial struggles.
<a href="https://www.benzinga.com/government/24/10/41140319/humana-faces-sharp-decline-in-medicare-star-ratings-for-2025-braces-for-2026-revenue-hit">&#8220;Humana Faces Sharp Decline In Medicare Star Ratings For 2025, Braces For 2026 Revenue Hit,&#8221;</a> by <a href="https://www.benzinga.com/author/vandana-singh">Vandana Singh</a>, reports that Humana Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HUM#NYSE">HUM</a>) is anticipating a major drop in Medicare Advantage Star Ratings, with only 25% of members enrolled in plans rated four stars or above, which could lead to significant revenue losses in 2026.
<a href="https://www.benzinga.com/markets/equities/24/09/41086177/amazon-ceo-andy-jassy-faces-employee-revolt-over-full-time-return-to-office-mandate-73-consider-">&#8220;Amazon CEO Andy Jassy Faces Employee Revolt Over Full-Time Return To Office Mandate, 73% Consider Quitting: Survey,&#8221;</a> by <a href="https://www.benzinga.com/author/kaustubh-bagalkote">Kaustubh Bagalkot</a>, reports that Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) CEO Andy Jassy is facing internal backlash as 73% of surveyed employees consider leaving due to a new full-time return-to-office policy starting in 2025, sparking concerns over morale and retention.
For more bearish takes, be sure to see these posts:
<a href="https://www.benzinga.com/markets/asia/24/10/41141152/cramer-says-hot-money-flowing-from-nvidia-apple-into-china-focus-on-alibaba-if-you-must">Cramer Says &#8216;Hot Money&#8217; Flowing From Nvidia, Apple Into China, Focus On Alibaba &#8216;If You Must&#8217;</a>
<a href="https://www.benzinga.com/markets/asia/24/09/41084907/japans-nikkei-plummets-over-2-000-points-amid-change-of-guard-while-chinese-market-extends-stimulus">Japan&#8217;s Nikkei Plummets Over 2,000 Points Amid Change Of Guard, While Chinese Market Extends Stimulus-Driven Run: What&#8217;s Driving Sentiment In Asia</a>
<a href="https://www.benzinga.com/news/24/10/41114769/boeing-dips-in-pre-market-as-struggling-plane-maker-considers-raising-10b-through-stock-sale-amid-st">Boeing Dips In Pre-Market As Struggling Plane Maker Considers Raising $10B Through Stock Sale Amid Strike</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>.
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Benzinga Bulls And Bears: Nvidia, Apple, Amazon, Spirit Airlines — And Dogecoin Drops But Whale Activity Remains High

<a href="https://www.benzinga.com/topic/grant-cardone">Grant Cardone</a>, the well-known real estate entrepreneur, recently took a strong stance on the ongoing dockworkers&#8217; strike, stating that longshoremen deserve better pay. Cardone tweeted that the nation has more than enough financial means to compensate the workers handling the daily goods Americans use.&nbsp;
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But what was exactly in his <a href="https://x.com/GrantCardone/status/1841167347538616453">tweet</a>? He said, &#8220;Pay the Longshoremen. The U.S. pays $150B to fund illegal immigrati on and has given $250B to Ukraine [sic]. Pay the workers who get our goods to us or make it in America and quit importing it.&#8221;
It's important to note that these figures are likely inflated and undocumented workers contribute to the economy through taxes and essential labor.
Reactions to his tweet were mixed. Some people who agreed with Cardone said that Americans should earn more money and that investing in the people who sustain the nation is long overdue.
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Others pointed out that it's not just about pay – it's about whether halting automation is even a realistic demand, with some saying, "They have to accept automation as part of the deal. Who knows how much extra cost is being passed on to Americans by staying in the stone age to maximize their pay."
The strike, which has <a href="https://www.benzinga.com/news/24/10/41111978/dockworkers-strike-will-it-impact-your-holiday-shopping">shut down 36 ports</a> along the East and Gulf Coasts, began when the International Longshoremen's Association (ILA) and the U.S. Maritime Alliance failed to agree on a new contract. Dockworkers demand a 77% wage increase over six years, protections against automation and <a href="https://www.benzinga.com/money/best-health-insurance">better health coverage</a>.&nbsp;
Nearly half of all maritime imports into the United States pass through these ports, so a major disruption to supply networks costs the country billions of dollars daily. In fact, J.P. Morgan estimates that if it continues, it could cost the economy up to $4.5 billion per day.
Trending: A billion-dollar investment strategy with minimums as low as $10 —<a href="https://www.benzinga.com/money/fundrise-flagship-fund"> you can become part of the next big real estate boom today.</a>
The ports affected by the strike <a href="https://www.benzinga.com/news/global/24/10/41148694/beer-shortage-ahead-3-products-that-will-be-most-impacted-by-port-strike">handle significant amounts of imported goods</a>, including cars, construction equipment and beverages. If the strike drags on, prices could rise and products could take longer to hit store shelves – affecting everyone from small business owners to consumers just trying to buy a holiday gift.
Despite the economic risks, President Biden has so far refused to intervene, though he has been in contact with both sides, encouraging them to find a solution quickly. A White House spokesperson said, &#8220;This weekend, senior officials have been in touch with USMX representatives urging them to come to a fair agreement fairly and quickly – one that reflects the success of the companies. Senior officials have also been in touch with the ILA to deliver the same message.&#8221;
As the strike continues, Cardone&#8217;s demand to &#8220;pay the longshoremen&#8221; joins the growing chorus of voices opposed to workplace automation and calling for fair wages.&nbsp;
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<li>Amid the ongoing EV revolution, previously overlooked low-income communities<a href="https://www.benzinga.com/money/dunamis-1"> now harbor a huge investment opportunity at just $500.</a></li>
<li>If there was a new fund backed by Jeff Bezos offering a 7-9% target yield with monthly dividends<a href="https://www.benzinga.com/money/arrived-private-credit-fund"> would you invest in it</a>?</li>
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'Pay the Longshoremen,' Says Grant Cardone. Argues The U.S. Has More Than Enough Money To 'Pay The Workers Who Get Our Goods To Us'

Michael Saylor is regarded as one of the most influential advocates of Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), and MicroStrategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>), a software firm established by him, <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40776328/microstrategys-bitcoin-strategy-has-outperformed-every-s-p-500-company-and-even-nvidia-sin">functions more like a proxy</a> of the leading cryptocurrency.
But not many know that the Bitcoin evangelist wasn't bullish on the asset from the get-go. In fact, the man himself has expressed surprise at some of his old takes on the cryptocurrency.
What happened: On Dec. 19, 2013, Saylor tweeted something typical of any skeptic who may come to your mind while reading this article.
"Bitcoin days are numbered. It seems like just a matter of time before it suffers the same fate as online gambling," Saylor had remarked.&nbsp;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> days are numbered. It seems like just a matter of time before it suffers the same fate as online gambling.
&mdash; Michael Saylor&#x26a1;&#xFE0F; (@saylor) <a href="https://twitter.com/saylor/status/413478389329428480?ref_src=twsrc%5Etfw">December 19, 2013</a></blockquote>
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Saylor was asked about the tweet in a September 2020 podcast with Anthony Pompliano, founder and CEO of Professional Capital Management.&nbsp;
&#8220;I&#8217;m really ashamed to say — I didn&#8217;t know I tweeted it until the day that I tweeted that I bought $250 million worth of Bitcoin,&#8221; Saylor replied with a childlike glee.
"I literally forgot I ever said that," he added, admitting "what an idiot" he was.&nbsp;
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41172369/bitcoin-not-a-safe-haven-but-rising-trump-odds-could-fuel-a-rally-standard-chartered">Bitcoin &#8216;Not A Safe Haven&#8217; But Rising Trump Odds Could Fuel A Rally: Standard Chartered</a>
Why It Matters: Less than seven years from the tweet he forgot, Saylor's MicroStrategy <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40306998/since-embracing-bitcoin-4-years-ago-michael-saylors-microstrategy-has-outperformed-warren-">adopted Bitcoin as its primary reserve asset</a>, becoming the first publicly listed company to pursue this strategy.&nbsp;
The company hasn't looked back since then, and as of this writing, MicroStrategy is the world&#8217;s largest corporate owner of Bitcoin, with a stash worth more than $15 billion, <a href="https://bitcointreasuries.net/">according</a> to bitcointreasuries.net.
Moreover, since adopting Bitcoin, MicroStrategy's stock <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40776328/microstrategys-bitcoin-strategy-has-outperformed-every-s-p-500-company-and-even-nvidia-sin">has outperformed every company</a> in the S&amp;P 500, including AI powerhouse NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>).
Meanwhile, Saylor's journey has been exciting, from saying "Bitcoin's days are numbered" to it being the "swarm of cyber hornets serving the goddess of wisdom."
He recently disclosed <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40229380/michael-saylors-personal-bitcoin-holdings-near-1b-continues-to-invest-heavily">that he owned nearly $1 billion in the leading cryptocurrency</a> and made his intentions clear to acquire more in the future.  
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> is a swarm of cyber hornets serving the goddess of wisdom, feeding on the fire of truth, exponentially growing ever smarter, faster, and stronger behind a wall of encrypted energy.
&mdash; Michael Saylor&#x26a1;&#xFE0F; (@saylor) <a href="https://twitter.com/saylor/status/1307029562321231873?ref_src=twsrc%5Etfw">September 18, 2020</a></blockquote>
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Price Action: At the time of writing, Bitcoin was exchanging hands at $61,022.74, down 0.65% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>.&nbsp;Shares of MicroStrategy closed down 0.75% to $163.41 during Thursday&#8217;s regular trading session.
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<iframe loading="lazy" title="Pomp Podcast #385: Michael Saylor On Buying Bitcoin With His Balance Sheet" width="500" height="281" src="https://www.youtube.com/embed/WrR95PFYDFQ?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>
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What‘s Next: Anthony Pompliano will be a headline speaker at Benzinga's <a href="https://www.benzinga.com/events/digital-assets/agenda/">Future of Digital Assets</a> event on Nov. 19.
Read Next:&nbsp;
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41177884/mark-cuban-an-ardent-kamala-harris-supporter-isnt-keen-on-elizabeth-warren-as-he-is-on-her">Mark Cuban, An Ardent Kamala Harris Supporter, Isn&#8217;t Keen On Elizabeth Warren As He Is On Her Pro-Crypto GOP Rival: Here&#8217;s Why</a></li>
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Photo courtesy: Wikimedia

MSTR

Michael Saylor Once Said 'Bitcoin's Days Are Numbered.' Now He Holds More Than A Billion Worth Of King Crypto: Here's What Changed For One Of Crypto's Biggest Advocates

Well-known cryptocurrency trader, Capo, has forecasted potential significant declines for Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>).
What Happened: Capo, who commands a large following on the social media platform X, predicts that Bitcoin might test the $48,000 to $50,000 range, while Ethereum could fall to between $1,800 and $2,000.
"There's a possibility of one last shakeout, with BTC testing the $48,000 – $50,000 zone and ETH $1,800 – $2,000, before the real altcoin season begins."
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Quick update: There&#39;s a possibility of one last shakeout, with <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> testing the $48k-50k zone and <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> $1.8k-2k, before the real altseason begins. If that happens, I&#39;ll be adding more to my altcoin bags. <a href="https://t.co/sx6u8wPNrK">https://t.co/sx6u8wPNrK</a>
&mdash; il Capo Of Crypto (@CryptoCapo_) <a href="https://twitter.com/CryptoCapo_/status/1841601158114152912?ref_src=twsrc%5Etfw">October 2, 2024</a></blockquote>
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Currently, Bitcoin is priced at $60,508, marking a 6% decline over the past week, and Ethereum is valued at $2,345, down by 11% over the same period.
Capo also shared insights on altcoins ranked below the top ten by market capitalization, known as "OTHERS," on his Telegram channel.
He suggests that the market cap of OTHERS might drop to between $132 billion and $164 billion after failing to break a significant resistance level. The altcoins index was rejected from a resistance zone around $240 billion, indicating market weakness.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41170754/donald-trump-is-now-level-with-kamala-harris-at-49-5-election-odds-after-september-rollerc?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Donald Trump Is Now Level With Kamala Harris At 49.5% Election Odds After September Rollercoaster</a>
Why It Matters: The potential declines for Bitcoin and Ethereum come at a time when other analysts have <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41195246/bitcoin-could-hit-new-all-time-high-if-it-breaks-above-this-resistance-level-says-a">expressed optimism</a> about Bitcoin&#8217;s future. A recent analysis suggested that Bitcoin could reach a new all-time high if it surpasses the $64,000 resistance level.
Additionally, the cryptocurrency market <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41191566/bitcoin-ethereum-dogecoin-end-the-week-with-strong-gains-summer-lull-seasonality-over-q4-b">recently saw strong gains</a>, with Bitcoin, Ethereum, and Dogecoin ending the week on a high note, driven by positive labor market data. This suggests a potential shift from the summer lull to a more bullish Q4 seasonality.
Despite the current bearish outlook, <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41185013/bitcoin-rebounds-above-61-500-and-80k-is-more-likely-than-40k-says-top-technical-analyst">some analysts believe</a> Bitcoin&#8217;s rebound above $61,500 indicates a higher likelihood of reaching $80,000 rather than falling to $40,000. This tension between bullish long-term charts and bearish short-term action highlights the uncertainty in the market.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41177884/mark-cuban-an-ardent-kamala-harris-supporter-isnt-keen-on-elizabeth-warren-as-he-is-on-her?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mark Cuban, An Ardent Kamala Harris Supporter, Isn&#8217;t Keen On Elizabeth Warren As He Is On Her Pro-Crypto GOP Rival</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

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