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A transfer of 120 million Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) to the trading platform Robinhood has coincided with a 4.45% <a href="https://www.benzinga.com/markets/cryptocurrency/24/03/37439719/as-dogecoin-jumps-18-founder-billy-markus-cracks-joke-about-crypto-community-if-you-take-o">surge in the price of the meme cryptocurrency.</a>
What Happened: Whale Alert&#39;s blockchain data shows a significant amount of Dogecoin was moved to Robinhood, triggering a near 5% price increase for DOGE.
The transfer, which occurred over 10 hours ago, involved 120 million DOGE, worth roughly $18.5 million at the time.
<blockquote class="twitter-tweet">120,000,000 <a href="https://twitter.com/hashtag/DOGE?src=hash&amp;ref_src=twsrc%5Etfw">#DOGE</a> (18,555,179 USD) transferred from unknown wallet to <a href="https://twitter.com/hashtag/Robinhood?src=hash&amp;ref_src=twsrc%5Etfw">#Robinhood</a><a href="https://t.co/xojf8e81oe">https://t.co/xojf8e81oe</a>
&mdash; Whale Alert (@whale_alert) <a href="https://twitter.com/whale_alert/status/1791574395162399119?ref_src=twsrc%5Etfw">May 17, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>The wallet involved in the transfer has been active, with outflows of 48.3 million, 150 million, 118.3 million, and 190 million DOGE in the past day, including the 120 million transfer.
This amounts to a total of 506.4 million Dogecoin, valued at about $71.1 million.
Also Read:&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38478483/crypto-analyst-predicts-this-altcoin-will-explode-260-in-2024-and-its-not-dogecoin-or-shib">Crypto Analyst Predicts This Altcoin Will Explode 260% In 2024, And It&#39;s Not Dogecoin Or Shiba Inu</a>
Interestingly, this wallet also received two large DOGE transfers on May 16 and 17, totaling 306.4 million coins valued at $47.5 million. Following a week-long pause, the last transaction was on May 9.
The unidentified cryptocurrency whale currently holds 1.6 billion DOGE, equivalent to $248.6 million.
Following the mysterious transfer, Dogecoin&#39;s price saw a significant increase, rising by 4.45% to $0.15676. A slight rebound followed, with DOGE now trading at approximately $0.1525.
Why It Matters: This isn&#39;t the first time large DOGE transfers have impacted the coin&#39;s&nbsp;price.
In March, a <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-">massive influx</a> of 118.4 million DOGE to Robinhood sparked speculation and a price increase.
Similarly, in April, a <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38130806/dogecoin-soars-as-whale-moves-200-million-doge-from-robinhood-to-unknown-wallet">transfer of 200 million DOGE</a> from Robinhood to an unknown wallet fueled a surge in Dogecoin&#39;s value.
These events highlight the influence of large transfers on the meme coin&#39;s market dynamics.
Now Read:&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/03/37906584/dogecoin-soars-as-elon-musks-x-payments-gains-ground-enthusiasts-rally-with-800m-boost" target="_blank">Dogecoin Soars As Elon Musk&#39;s X Payments Gains Ground, Enthusiasts Rally With $800M Boost</a>
This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" style="color:#0563c1; text-decoration:underline" target="_blank">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Photo: Shutterstock

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$DOGE

Dogecoin Rises 4.45% Amidst Anonymous 120 Million DOGE Transfer To Robinhood

A new poll by Yahoo News/YouGov shows that a potential rematch between President Joe Biden and former President Donald Trump is still a close call. Both candidates<a href="https://www.benzinga.com/news/24/03/37937751/trump-vs-biden-one-candidate-gains-ground-in-swing-states-shakes-up-election-race"> are tied at 45% among registered voters.</a>
What Happened: The <a href="https://www.scribd.com/document/733545422/Yahoo-News-YouGov-Politics-20240513">poll</a>, conducted from May 10 to 13, surveyed 1,794 U.S. adults and found that neither Biden nor Trump is a strong enough candidate to capitalize on his opponent&#39;s flaws.
Biden&#39;s performance as president is disapproved by 57% of Americans, while Trump&#39;s legal troubles continue to tarnish his image.
For the first time, a majority of Americans (52%) now believe that the former president &quot;falsified business records to conceal a hush money payment to a porn star&quot; &mdash; the key charge in his ongoing criminal trial in Manhattan. Only 22% disagree.
When asked to compare the candidates on specific issues, Americans believe Biden would perform worse than Trump on nearly all of them. However, Biden leads Trump in one area &mdash;&nbsp;abortion, albeit by a narrow margin.
Also Read:&nbsp;<a href="https://www.benzinga.com/news/24/04/38131579/donald-trump-reportedly-hid-billionaires-bond-offer-from-court-to-save-millions" target="_blank">Donald Trump Reportedly Hid Billionaire&#39;s Bond Offer From Court To Save Millions</a>
Interestingly, more Americans believe &quot;things were better back when Donald Trump was president&quot; (43%) than those who think things are &quot;better today with Joe Biden as president&quot; (34%).
Similarly, 44% say their lives were better five years ago, while only 24% believe they are better today. Additionally, 25% feel their lives are about the same.
Despite these findings, Trump cannot surpass the 45% mark due to his unfavorable favorability rating (41%) and ongoing legal issues.
Why It Matters: The 2024 presidential race has been closely watched, with polls indicating a tight contest between Biden and Trump.
In April, an Emerson College survey showed <a href="http://www.benzinga.com/news/24/04/38131009/trump-vs-biden-one-candidate-appears-to-have-thin-lead-over-other-in-tight-race">Trump slightly ahead of Biden</a>. However, a <a href="http://www.benzinga.com/news/24/04/38476026/trump-vs-biden-one-candidate-hold-slim-lead-over-other-in-latest-poll">later poll</a> by the University of North Florida indicated a slim lead for Trump.
Despite these fluctuations, a <a href="https://www.benzinga.com/news/24/05/38630115/trump-vs-biden-latest-polls-dont-bode-well-for-one-candidate-in-tight-presidential-race">May report</a> suggested that Trump could face potential defeat against Biden. As the election approaches, how these factors will influence the final outcome remains to be seen.
Now Read:&nbsp;<a href="https://www.benzinga.com/news/24/03/38012721/marjorie-taylor-greene-claims-she-has-proof-that-votes-for-donald-trump-in-2020-were-lost-in-the-mai" target="_blank">Marjorie Taylor Greene Claims She Has Proof That Votes For Donald Trump In 2020 Were &#39;Lost In The Mail&#39;: &#39;I Think He&#39;ll Be Vindicated Easily&#39;</a>
This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Photo: Shutterstock

Politics

General

Trump Vs. Biden: Latest Poll Shows Candidates Locked In Dead Heat, Though One Fares Significantly Worse Than Other In Most Issues

Former President Donald Trump has called for President Joe Biden to undergo a drug test ahead of<a href="https://www.benzinga.com/news/24/04/38240111/unlike-his-behavior-in-e-jean-carroll-case-donald-trump-is-going-to-have-sit-there-in-upcoming-crimi"> their debates scheduled for June and September.</a>
What Happened: According to a <a href="https://www.mediaite.com/trump/trump-demands-biden-take-a-drug-test-before-debating-and-claims-the-president-was-high-as-a-kite-during-the-state-of-the-union/">report</a> by Mediaite, Trump made the&nbsp;demand during a speech in St. Paul, Minnesota. He claimed that Biden was under the influence of drugs during his State of the Union address in March.
Trump intends&nbsp;to make a drug test a prerequisite for the debates.
&quot;I just wanna debate this guy, but you know, and I&rsquo;m gonna demand a drug test too, by the way,&quot; Trump announced to the crowd.
He further alleged that Biden seemed &quot;high as a kite&quot; during his State of the Union address and appeared exhausted.
&ldquo;I am. No, I really am. I don&rsquo;t want him coming in like the State of the Union. He was high as a kite,&rdquo; Trump said.&nbsp;
By the end of Biden&rsquo;s speech, Trump said that the president &ldquo;was exhausted.&rdquo;
&ldquo;We&rsquo;re gonna demand a drug test,&rdquo; he added.
Also Read:&nbsp;<a href="https://www.benzinga.com/news/24/03/37440897/donald-trumps-debt-spiral-ex-president-now-owes-1-million-more-in-interest-related-to-ny-fraud-case">Donald Trump&#39;s Debt Spiral: Ex-President Now Owes $1 Million More In Interest Related To NY Fraud Case</a>
The forthcoming debates, slated for June 27 and September 10, will deviate from tradition by not having live audiences. The candidate who is not recognized for speaking will have his microphone muted.
Why It Matters: This development comes after a significant shift in the electoral landscape. Following his State of the Union address, Biden had been gaining <a href="http://www.benzinga.com/news/24/03/37937751/trump-vs-biden-one-candidate-gains-ground-in-swing-states-shakes-up-election-race">ground against Trump in six key states.</a>
However, earlier in March, a <a href="https://www.benzinga.com/news/24/03/37574397/polls-show-donald-trump-leading-joe-biden-in-heated-race-but-democrats-say-ex-president-is-being-ove">poll</a> by the New York Times/Siena College showed Trump leading Biden by five percentage points. This result was met with skepticism by some Democrats, who argued that the poll overestimated Trump and underestimated Biden.
These recent developments and the upcoming debates will continue to shape the political landscape in the coming months.
Now Read:&nbsp;<a href="https://www.benzinga.com/news/24/02/37299651/trump-vs-biden-poll-shows-one-candidate-holding-slim-advantage-over-another-in-hypothetical-matchup" target="_blank">Trump Vs. Biden: Poll Shows One Candidate Holding Slim Advantage Over Another In Hypothetical Matchup</a>
This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" style="color:#0563c1; text-decoration:underline" target="_blank">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Photo: Shutterstock

Donald Trump Issues Eyebrow-Raising Demand Ahead Of Proposed Debates With Joe Biden: 'I Just Wanna Debate This Guy, But ...'

Elon Musk&nbsp;recently expressed his views on drug use and its potential benefits on <a href="https://www.benzinga.com/news/24/04/38348400/several-companies-under-elon-musk-billed-each-other-approximately-9-million-in-expenses-raising-seri">X, sparking a flurry of reactions.</a>
What Happened: In a post on X on Saturday, Musk responded to a tweet about &quot;dark conspiracies&quot; surrounding OpenAI, a company he helped build.
He humorously lamented not getting ice cream during his time there.
<blockquote class="twitter-tweet">When I was helping build the company, I didn&rsquo;t even get ice cream
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1791684719412744562?ref_src=twsrc%5Etfw">May 18, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>The conversation took a turn when Musk responded to another user on X, stating, &quot;If cocaine actually helped with long-term productivity, I would definitely take it!&quot;
He further added, &quot;For any given drug, if you can complete the sentence &#39;[blank] made me a better person&#39;, then I think it should be legal.&quot;
Also Read:&nbsp;<a href="https://www.benzinga.com/news/24/01/36625230/is-elon-musk-becoming-more-like-donald-trump-one-report-suggests-so" target="_blank">Is Elon Musk Becoming More Like Donald Trump? One Report Suggests So</a>
<blockquote class="twitter-tweet">If cocaine actually helped with long-term productivity, I would definitely take it!
For any given drug, if you can complete the sentence &ldquo;[blank] made me a better person&rdquo;, then I think it should be legal.
I&rsquo;ve never heard anyone say that about cocaine.
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1791686582287933726?ref_src=twsrc%5Etfw">May 18, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>&nbsp;
Musk&#39;s comments come amid recent allegations that he is fostering a drug-friendly culture within his companies, Tesla Inc.&nbsp;and SpaceX.
Why It Matters: Musk&#39;s views on drug use have been a topic of controversy in the past. A Bloomberg <a href="http://news.bloomberglaw.com/esg/musk-faces-lawsuit-for-drug-use-x-posts-under-the-influence">report </a>from earlier this month highlighted a lawsuit against Musk for allegedly using drugs and posting under the influence. Earlier in February, Musk&#39;s alleged normalization of drug use among his business associates came into the picture, which led to a culture where declining to use drugs could result <a href="http://www.benzinga.com/news/24/02/36925273/elon-musk-fostered-culture-of-drug-use-among-senior-leaders-at-tesla-and-spacex-report-says">in fears of losing wealth and social standing</a>.
Concerns about Musk&#39;s drug use <a href="http://www.benzinga.com/news/24/01/36526208/concerns-mount-as-elon-musks-illegal-drug-use-sparks-alarm-at-tesla-and-spacex-wsj">have been linked to his unorthodox behavior</a>, causing unease among his close associates.
Given this context, Musk&#39;s recent comments on X have reignited the debate around his stance on drug use and its implications for his companies and their culture.
Now Read:&nbsp;<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">Elon Musk Voices Opposition To Potential TikTok Ban: &#39;It Is Not What America Stands For&#39;</a>
This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" style="color:#0563c1; text-decoration:underline" target="_blank">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Photo: Shutterstock

Health Care

Days After Facing Lawsuit For Drug Use, Musk Says He Would Take Cocaine If It Boosted 'Long-Term Productivity'

Former White House communications director Anthony Scaramucci has characterized the <a href="https://www.benzinga.com/topic/trump-hush-money-case">ongoing hush money trial</a> of ex-President Donald Trump as a test of loyalty for Republican officials.
What Happened: Scaramucci, in an interview <a href="https://www.youtube.com/watch?v=bS20MmLgJW0">with</a> CNN, stated that the trial is a loyalty test for high-ranking Republican officials. He noted that these officials are emulating Trump&#8217;s behavior and attire.
"It's a section of high-ranking … Republican officials, but it's an obligatory loyalty test by all of them," he said.
"But it'll never be enough for Donald Trump."
Scaramucci&#8217;s comments came after several Republican figures, including Sen. J.D. Vance (R-Ohio), House Speaker Mike Johnson (R-La.), House Freedom Caucus Chair Bob Good (R-Va.) and Rep. Lauren Boebert (R-Colo.), attended Trump&#8217;s trial in New York.
See Also: <a href="https://www.benzinga.com/news/24/05/38834200/marjorie-taylor-greene-slams-mike-johnson-for-observing-trump-hush-money-case-instead-of-defunding-j?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Marjorie Taylor Greene Slams Mike Johnson For Observing Trump Hush Money Case Instead Of &#8216;Defunding&#8217; Jack Smith</a>
Scaramucci, who previously worked for Trump, warned that despite their efforts, it will never be enough for Trump, as he is highly transactional. Good expressed that they went to show solidarity with Trump, who is under a gag order in the case.
Why It Matters: Scaramucci&#8217;s comments highlight the intense scrutiny surrounding Trump&#8217;s trial and the loyalty it demands from Republican officials. This trial is part of a series of events that have put the spotlight on Trump&#8217;s legal troubles.
Earlier, Scaramucci suggested that Trump&#8217;s trial could impact the former president&#8217;s future political ambitions, even <a href="https://www.benzinga.com/news/24/05/38836381/anthony-scaramucci-says-trump-may-campaign-with-ankle-bracelet-from-mar-a-lago-as-former-white-house">speculating</a> that Trump might campaign with an ankle bracelet from Mar-A-Lago. Meanwhile, other Republican figures, such as Rep. Marjorie Taylor Greene (R-Ga.), have faced criticism for their actions during the trial.
Trump&#8217;s trial has also seen significant testimony, with his former lawyer Michael Cohen <a href="https://www.benzinga.com/news/24/05/38865977/trumps-niece-finds-it-absolutely-horrifying-that-congress-members-say-most-egregious-things-to-under">alleging</a> that Trump ordered hush money payments to adult actress Stormy Daniels.
Read Next: <a href="https://www.benzinga.com/news/24/05/38894830/donald-trumps-daughter-in-law-alleges-bias-in-upcoming-presidential-debates-says-scales-have-always">Donald Trump&#8217;s Daughter-In-Law Alleges Bias In Upcoming Presidential Debates, Says &#8216;Scales Have Always Tipped Against&#8217; Ex-President</a>
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Anthony Scaramucci Labels Donald Trump's Hush Money Trial As 'Obligatory Loyalty Test' For Republicans, Says 'It'll Never Be Enough For Donald Trump'

Rep. Jasmine Crockett (D-Texas) has accused her colleague, <a href="https://www.benzinga.com/topic/marjorie-taylor-greene">Rep. Marjorie Taylor Greene</a> (R-Ga.), of being racist over her "fake eyelashes" taunt.
What Happened: Crockett, during a recent hearing, was taunted by Greene over her physical appearance. This led to a heated exchange, with Crockett asserting that Greene&#8217;s comments were racially motivated, <a href="https://thehill.com/homenews/house/4670486-crockett-says-greene-behavior-was-absolutely-racist/">reported</a> The Hill.
&#8220;She is racist. I mean, I don't have any questions about that. Because, I mean, I don't know that she's ever attacked her own colleagues,&#8221; Crockett said.
She pointed out that Greene has not made similar comments about other colleagues&#8217; appearances, including those with whom she has had public disputes.
The exchange led to a lengthy detour about whether to strike Greene's words, with other members, including Rep. Alexandria Ocasio-Cortez (D-N.Y.), calling them &#8220;disgusting&#8221; and urging Greene to apologize.
See Also: <a href="https://www.benzinga.com/news/24/05/38862303/nancy-pelosi-on-upcoming-presidential-debate-i-would-never-recommend-going-on-stage-with-donald-trum?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Nancy Pelosi On Upcoming Presidential Debate: &#8216;I Would Never Recommend Going On Stage With Donald Trump&#8217;</a>
Ocasio-Cortez also highlighted the racial undertones of Greene's remarks, saying, &#8220;It is not lost on me that Ms. [Greene] targeted one of the only Black women on the committee for some of the most egregious and disgusting comments and with the expectation that it will be ignored.&#8221;
Why It Matters: This is not the first time Greene has been at the center of controversy. Just a few days ago, <a href="https://www.benzinga.com/news/24/05/38834200/marjorie-taylor-greene-slams-mike-johnson-for-observing-trump-hush-money-case-instead-of-defunding-j">she criticized</a> House Speaker Mike Johnson (R-La.) for observing former President Donald Trump&#8216;s hush money trial.
Greene&#8217;s comments came as a reaction to a post by journalist Jake Sherman, who shared a photo from Trump's trial in which Johnson can be seen second in line behind Trump.
The trial, which has been ongoing, also <a href="https://www.benzinga.com/news/24/05/38805336/trump-slams-judge-defends-actions-following-michael-cohens-testimony-in-hush-money-trial-really-a-ve">saw Trump publicly criticize</a> the presiding judge following the testimony given by Trump&#8217;s former lawyer Michael Cohen.
Meanwhile, Cohen, whose testimony attracted praise from experts, is set to appear again in the trial and will <a href="https://www.benzinga.com/news/24/05/38862565/michael-cohen-whose-testimony-attracted-praises-by-experts-set-to-appear-again-in-trump-hush-money-c">face cross-examination</a> by Trump's defense attorney Todd Blanche.
Read Next: <a href="https://www.benzinga.com/markets/cannabis/24/05/38880719/biden-announces-monumental-marijuana-rescheduling-doj-to-take-next-steps?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Biden Announces &#8216;Monumental&#8217; Marijuana Rescheduling, DOJ To Take Next Steps</a>
Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Photo: Shutterstock

Marjorie Taylor Greene Accused Of Racist Behavior By Jasmine Crockett Over 'Fake Eyelashes' Comment

After <a href="https://www.benzinga.com/general/politics/24/05/38804590/trump-vs-biden-new-swing-state-poll-reveals-winner-one-key-2024-election-issue-could-influence-r">polls showed swing state voters increasingly gravitating toward Donald Trump, </a>secondary analysis of the data and follow-up interviews that were published on Friday revealed interesting results.
Loyalty Wanes? After a New York Times/Philadelphia Inquirer, Siena College poll released Monday showed Trump leading Joe Biden in five of six battleground states, new analysis found that 14% of 2020 Biden voters in these states said they would not vote for him again., <a href="https://www.nytimes.com/2024/05/17/upshot/they-supported-biden-in-2020-what-made-them-change-their-minds-in-2024.html">reported</a> The New York Times. 
These respondents said they would vote for Trump, a third-party candidate, were undecided, or wouldn&#8217;t vote at all.
Follow-up interviews revealed that issues like abortion rights and preserving democracy were important, and they disliked Trump&#8217;s personality. However, new concerns such as inflation, immigration, and foreign policy made them unhappy with how things have played out, leading them to consider not voting.
The report said these defectors accounted for just 6% of registered voters in the battleground states — Arizona, Georgia, Michigan, Nevada, Pennsylvania and Wisconsin — but they could play a decisive role.
These defectors cut across party lines. 
On a positive note, they still support Democrats for the Senate, which could be a silver lining for Biden. The president still has a chance to bring some of the defectors back to his camp.
They include Democrats, Republicans and independents who voted for Biden in 2020. Many still support Democrats for Senate, suggesting that Biden still has a chance to regain support from some of them.
Also, most Biden defectors said they weren't thrilled with either candidate.
See Also: <a href="https://www.benzinga.com/markets/equities/24/05/38890222/biden-hands-out-big-l-to-trump-as-dow-hits-40k-for-first-time-and-ex-presidents-stock-market-cra">Biden Hands Out &#8216;Big L&#8217; To Trump As Dow Hits 40K For First Time And Ex-President&#8217;s Stock Market Crash Prediction Falls Flat</a>
Defector Demographics: The Times poll showed that Biden defectors increasingly fretted about the poor economy compared to those who repledged their allegiance to the president. They wanted fundamental changes to the way things worked.
The defectors were more often young or Hispanic — a group that has historically aligned with Democrats. They have since shifted slightly toward the Republican party.
On the other hand, Trump defectors — those who voted for Trump in 2020 and were now leaning away from him — were less than half the number of Biden defectors.
Sore On Economy: Half of all registered voters in the surveys said the economy is poor, including nearly three-quarters of Biden defectors. But just one in six of those who plan to vote for Biden again rated the economy as poor. Follow-up interviews by the Times showed that Biden defectors harped on prices.
One of the Wisconsin voters reportedly expressed unhappiness over &#8220;Biden's policies of overspending and printing money&#8221; and said she would vote for Trump.
FT-Michigan Ross' nationwide poll conducted between May 2-6 also <a href="https://www.benzinga.com/news/24/05/38791491/biden-vs-trump-incumbent-fails-to-win-voter-confidence-to-steer-economy-as-new-poll-identifies-infla">identified inflation as the primary concern of voters.</a>
Nearly six in 10 defectors believe that the country needed big, fundamental change, while a similar share of Biden loyalists said they want politics to return to normal.
Read Next: <a href="https://www.benzinga.com/money/how-to-invest-in-startups">How To Invest In Startups</a>
Photo: Shutterstock

Media

Biden Vs. Trump: A Slice Of Incumbent's 2020 Backers Are Poised To Defect, But Will It Matter For His Re-Election?

President Joe Biden&#39;s administration is moving to reschedule cannabis<a href="https://www.benzinga.com/markets/cannabis/24/05/38880719/biden-announces-monumental-marijuana-rescheduling-doj-to-take-next-steps"> from Schedule I to Schedule III </a>under the <a href="https://www.benzinga.com/topic/controlled-substances-act">Controlled Substances Act</a> (CSA). This shift could revolutionize the cannabis industry. But what exactly is Schedule III? What other substances are produced and studied in this category? Which&nbsp;stocks are thriving in these sectors?
Schedule III substances, according to the DEA,&nbsp;have accepted medical value and&nbsp;low addiction possibility.&nbsp;Examples of <a href="https://www.deadiversion.usdoj.gov/GDP/(DEA-DC-071)(EO-DEA226)_Practitioner's_Manual_(final).pdf">Schedule III drugs</a> include testosterone, codeine, ketamine, anabolic steroids&nbsp;and certain medications.
<h2>Stocks To Watch&nbsp;In Schedule III</h2>
<h3>Ketamine&nbsp;Investments</h3>
<ul>
<li>Johnson &amp; Johnson (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/jnj#NYSE">JNJ</a>), with an enterprise value (EV) of $378.09 billion and a market cap of $372.24 billion, stands as a dominant force in the ketamine market with significant investments in innovative treatments like <a href="https://www.benzinga.com/23/07/33310531/sales-of-johnson-johnson-esketamine-drug-spravato-rise-nearly-100-year-over-year">Spravato</a>.</li>
<li>MindMed (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mnmd#NASDAQ">MNMD</a>), an early-stage company with a market cap of $583.75 million and an EV of $348.43 million, is pioneering psychedelic research, particularly in ketamine derivatives. Despite its current unprofitability, analysts rate MindMed as a strong buy due to its promising pipeline and innovative treatment approaches.</li>
<li>Cybin Inc. (NYSEAMERICAN: CYBN), with a market cap of $262.63 million and an EV of $233.03 million, is highlighted for its innovative approaches to mental health treatment through psychedelics. The company has secured multiple patents and is making significant progress in clinical trials.</li>
</ul>
<h3>Steroids</h3>
<ul>
<li>Pfizer Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pfe#NYSE">PFE</a>), with an EV of $219.47 billion and a market cap of $162 billion, is selected for its substantial market cap and established presence in the steroid market.</li>
<li>Amgen Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/amgn#NASDAQ">AMGN</a>), boasting a market cap of $167 billion and an EV of $222.66 billion, is renowned for fabricating steroids for cancer-related cachexia and muscle wasting. Beyond steroids, Amgen is also known for its biopharmaceutical research, including treatments for oncology, cardiovascular disease, and inflammation.</li>
<li>Teva Pharmaceutical Industries (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/teva#NYSE">TEVA</a>), with an EV&nbsp;of $34.99 billion and a market cap of $18 billion, is involved in the global generic drug market. The company&#39;s strategic investments in steroid research enhance its diversified portfolio.</li>
</ul>
<h3>Pharma-Grade Cannabinoids Investments</h3>
<ul>
<li>AbbVie Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/abbv#NYSE">ABBV</a>), with a market cap of $294 billion and an EV of $349.42 billion, is selected for its leading position in the pharmaceutical market and its innovative research in Marinol (dronabinol), a synthetic cannabinoid. The company&rsquo;s financial stability and continued investment in cannabinoid research position it as a major player in the evolving pharmaceutical landscape.</li>
<li>Jazz Pharmaceuticals (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/jazz#NASDAQ">JAZZ</a>), with an enterprise value of $10.80 billion and a market cap of $7 billion, is recognized for its breakthrough treatments in epilepsy, such as <a href="https://www.benzinga.com/markets/cannabis/22/08/28550315/jazz-epidiolex-the-only-fda-approved-cbd-drug-enters-phase-3-trial-evaluating-its-effects-in-pat">Epidiolex</a>.</li>
</ul>
<h3>What Happens Within The Cannabis Industry Under&nbsp;Rescheduling?</h3>
The change is expected to provide substantial <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38657697/post-cannabis-rescheduling-whats-next-for-marijuana-giants-potential-1-1b-cash-flow">financial relief </a>by allowing marijuana businesses to <a href="https://www.benzinga.com/markets/cannabis/24/05/38881456/bidens-greenlight-what-to-know-about-fed-regulated-marijuana-markets-legal-circuits-and-complian">deduct operational expenses</a>. This could result in up to a <a href="https://www.benzinga.com/markets/cannabis/24/05/38885460/finally-tax-refunds-these-cannabis-companies-will-get-the-most-money-back-if-rescheduling-happen">500% increase in cash flow </a>for major players like <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38772876/cannabis-reports-highlight-339m-and-297-6m-revenue-insights-in-curaleaf-and-truliev">Trulieve</a> (OTC: <a class="ticker" href="https://www.benzinga.com/stock/tcnnf#OTC">TCNNF</a>) and <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38772876/cannabis-reports-highlight-339m-and-297-6m-revenue-insights-in-curaleaf-and-truliev">Curaleaf</a> (OTC: <a class="ticker" href="https://www.benzinga.com/stock/curlf#OTC">CURLF</a>). Additionally, DEA-authorized studies on cannabis benefits will advance research and development, potentially leading to groundbreaking medical applications.
Federally regulating cannabis would make many industry practices illegal and enforce stricter regulations, mirroring those for other Schedule III drugs. This would require <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38803783/will-pharma-and-healthcare-have-competitive-edge-in-cannabis-post-rescheduling-data">written prescriptions and controlled distribution</a> by licensed pharmacists, aiming to ensure patient safety and product consistency.
To learn more about all of this and how to invest in the sector,&nbsp;join us at the&nbsp;<a href="https://www.benzinga.com/events/cannabis-conference/?UTM_source=article" target="_blank">19th Benzinga Cannabis Capital Conference</a>&nbsp;in Chicago this October 8-9. Engage with top executives, investors, policymakers, and advocates to explore the industry&#39;s future. Secure your tickets now before prices increase by following&nbsp;<a href="https://www.eventbrite.com/e/benzinga-capital-conference-cannabis-fall-2024-tickets-858948065787?aff=oddtdtcreator" target="_blank">this link</a>.
Photo: AI-Generated Image.&nbsp;

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Cannabis Meets Prescription Drugs, Steroids And Ketamine In Schedule III: What It Means, Key Stocks To Watch

After Warren Buffett-run 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>) revealed insurer Chubb Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CB#NYSE">CB</a>) <a href="https://www.benzinga.com/markets/equities/24/05/38873913/warren-buffetts-berkshire-confirms-apple-sale-dumps-this-pc-maker-finally-reveals-mystery-stock-">as its mystery stock, </a>an investment advisor said on Thursday the next rotation could be into the insurance sector.
Buffett&#8217;s Bet: Berkshire&#8217;s 13F filed late Wednesday showed that the firm accumulated 25.92 million shares of the property and casualty insurer at a valuation of $6.72 billion. This gives Berkshire a 6.4% stake in the insurer (based on 406 million in outstanding shares). The stock rallied over 8% over two sessions following the disclosure.
&#8220;Warren is back to his second love (insurance),&#8221; said Lumida Wealth founder Ram Ahluwalia in a post on X, formerly Twitter. 
The investment advisor noted that <a href="https://www.benzinga.com/real-estate/23/08/33963717/warren-buffett-bets-on-the-u-s-housing-market-with-3-new-investments-be-greedy-when-others-are-fearf">Buffett was scooping up investments in multiple homebuilders</a> in the second half of the 2023, adding that nine months later, the billionaire&#8217;s investment in D.R. Horton, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DHI#NYSE">DHI</a>) has risen 30%, outpacing the S&amp;P 500 Index.
&#8220;Now, Buffett has &#8216;alterted&#8217; the market that the next rotation is in Insurance,&#8221; Ahluwalia said. He noted that a few insurance companies rallied in sympathy with Chubb.
See Also: <a href="https://www.benzinga.com/money/best-financial-services-stocks">Best Financial Services Stocks</a>
Poised To Take Off? Ahluwalia pointed out that insurance premiums have remained elevated due to recent hurricanes in Florida, contributing to a 6% year-over-year increase. He added that despite strong fundamentals, stocks in the sector have lagged.
That said, the investor thinks the bad news is priced in and they are now &#8220;making more money.&#8221;
&#8220;Buffett has single-handedly re-focused Mr. Market, like the eye of Sauron, on the Insurance sector. And, perhaps if we get a &#8216;trend kick-off,&#8217; we can get returns of 30% much like homebuilders on the second half of last year,&#8221; he said.
&#8220;Insurance is also consistent with what Mr. Market is building up: Value.&#8221;
Delving into Lumida&#8217;s approach, Ahluwalia said, &#8220;We have an a priori view of what the best businesses in the world are. Then we wait for the theme to perform, or the asset to go on sale for silly reasons.&#8221;
 &#8220;That&#8217;s part of what lets us stay ahead of Mr. Market, or at least anticipate the turn&#8230;&#8221;
The iShares U.S. Insurance ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAK#NYSE">IAK</a>) rose 1.32% to $117.86 on Friday, according to <a href="https://benzinga.grsm.io/register174">Benzinga Pro data.</a>
Read Next: <a href="https://www.benzinga.com/government/24/05/38630925/buffett-says-no-other-americans-would-have-had-to-pay-even-a-dime-in-federal-taxes-if-this-had-happe">Buffett Says No Other Americans Would Have Had To Pay Even A Dime In Federal Taxes If This Had Happened</a>
Photo: Shutterstock

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Looking For Superlative Returns? Investor Flags Potential 30% Gains In This Sector After Warren Buffett Turns Market Focus Toward These Stocks

On Thursday, Mary Trump, the niece of former President Donald Trump, weighed in on the possibility of <a href="https://www.benzinga.com/general/politics/24/05/38849634/biden-signals-intent-to-debate-trump-in-june-make-my-day-pal">her uncle accepting President Joe Biden&#8217;s challenge of two televised debates,</a> his lawsuit and a potential second term.
Presidential Debate: Mary Trump expressed skepticism about the debate occurring and its potential usefulness. 
&#8220;I think it remains to be seen whether or not it actually happens, and I&#8217;m of two minds about this,&#8221; she <a href="https://www.youtube.com/watch?v=pUP_hVBBDRc">said</a> in Zeteo&#8217;s Mehdi Unfiltered podcast.
&#8220;On the one hand, I&#8217;m glad that Biden is going after Donald and kind of calling his bluff,&#8221; she said. &#8220;I was saying back in 2020 that I thought he really needed to go hard after Donald&#8217;s deficiency. So I&#8217;m glad he&#8217;s sort of taking the gloves off.&#8221;
On the flip side, giving him a platform would be legitimizing his actions, Mary Trump, a psychologist, said. 
&#8220;It concerns me that he&#8217;s legitimizing a man who incited an insurrection against his own government by putting him up on that stage with him,&#8221; she said.
&#8220;He&#8217;s potentially normalizing him as the presidential nominee, when quite frankly, he&#8217;s a traitor to this country. So that worries me.&#8221;
That said, the psychologist thinks a debate is unlikely, given her view that &#8220;Donald is nothing if not a coward.&#8221;
If it does happen, Mary Trump said she wants the president to be more on the offensive against her uncle. She added she sees a repeat of what happened in 2020. 
&#8220;Donald is a chaos agent. But this time, hopefully, President Biden will be much more attacking,&#8221; she said.
See Also: <a href="https://www.benzinga.com/markets/equities/24/05/38890222/biden-hands-out-big-l-to-trump-as-dow-hits-40k-for-first-time-and-ex-presidents-stock-market-cra">Biden Hands Out &#8216;Big L&#8217; To Trump As Dow Hits 40K For First Time And Ex-President&#8217;s Stock Market Crash Prediction Falls Flat</a>
Setting Bar Lower For Biden: When asked about the Trump camp&#8217;s claims of Biden being intellectually and mentally degraded, Mary Trump said these arguments lost traction after Biden&#8217;s State of the Union address, leading to a temporary halt in such attacks.
Mary Trump pointed that it was her uncle who, in fact, allegedly fell asleep in his criminal trial. 
&#8220;I don&#8217;t think those attacks carry the same weight that they might have done,&#8221; she added of the criticism aimed at Biden. 
Trial Proceedings Bothering Trump? Mary Trump said that for Donald Trump, the real humiliation in the New York hush-money criminal trial comes from having to listen to testimony from people he considers enemies, rather than from losing control in the courtroom.
The psychologist and podcaster said there were some mitigating factors that she did not anticipate. She referred to the many members of Congress &#8220;who were willing to sell their soul and undermine American democracy and the rule of law by acting as extensions of ego and breaking the gag order on his behalf when Donald Trump isn&#8217;t allowed to do so.&#8221;
Vengeance Presidency? &#8220;We cannot overstate how dangerous a second term would be,&#8221; Mary Trump said of a potential win for her uncle. 
&#8220;It&#8217;s unthinkable what that man is capable of, for most people, which is why I don&#8217;t think people are taking him seriously as they should,&#8221; she said.
&#8220;It doesn&#8217;t matter if he&#8217;s a foolish clown. He&#8217;s a dangerous man who is being enabled by an entire political party who will have essentially unlimited power &#8230; It&#8217;s insane to put him back in the Oval office,&#8221; she added.
Mary Trump said the relaxed attitude about a potential second Trump term is terrifying and attributed it to a failure in messaging by the corporate media. She added there&#8217;s a split screen between Donald Trump, the criminal defendant, and Donald Trump, the candidate.
&#8220;The former seems to have absolutely no impact upon the latter because of the way it&#8217;s framed in the corporate media,&#8221; she said.
She said people are also not paying attention. 
&#8220;It&#8217;s the same two candidates. It&#8217;s not interesting,&#8221; she said, adding that she hoped this attitude would change after Labor Day.
Biden Alternative: Mary Trump also weighed on potential alternative candidates for Biden, <a href="https://www.benzinga.com/news/24/05/38753402/biden-vs-trump-key-swing-state-voters-give-big-lead-to-one-candidate-despite-ranking-him-down-on-cri">given his not-so-flattering poll numbers.</a> 
&#8220;It&#8217;s pretty late. If they wanted to do that, it would have had to be at least two years ago,&#8221; she said.
&#8220;And it&#8217;s a very similar reaction I have to 2016 when people were saying that Hillary Clinton was a bad candidate, and my response was, compared to whom? Donald Trump is the worst candidate in American history, and we know that,&#8221; she said.
Read Next: <a href="https://www.benzinga.com/best-penny-stocks">Best Penny Stocks</a>
Photo: Shutterstock

Trump's Niece Says It's Insane To Put Ex-President Back In Oval Office: 'Worst Candidate In American History And We Know That'

Electric vehicle stocks rebounded strongly this week, thanks to the <a href="https://www.benzinga.com/markets/equities/24/05/38902451/wall-street-jumps-back-to-record-highs-dow-hits-40-000-as-inflation-fears-recede-meme-stock-fren">broader market buoyancy</a> and the frenzied buying in the small-cap space on the back of the meme rally 2.0.
Here are the key events that happened in the EV space during the week:
Tesla Goes All Out To Convince Shareholders: Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) is working diligently to get CEO Elon Musk&#8217;s 2018 compensation package reapproved by shareholders at the June 13 annual meeting. <a href="https://www.benzinga.com/news/24/05/38865762/musk-goes-all-in-for-mega-payday-as-tesla-targets-growing-retail-investor-army-with-dedicated-websit">The company has been courting retail shareholders</a> through a dedicated &#8220;Vote Tesla&#8221; website, and has appointed a strategic advisor and an external law firm to spearhead the campaign, Bloomberg reported.
Fund Manager Gary Black expressed confidence in the pay plan being approved, seeing it as crucial for ensuring Elon Musk&#8217;s continued involvement with Tesla.
Tesla, meanwhile, continued to tinker with pricing and promotional measures. The company raised the price of the Model 3 Performance variant by $1,000 in the U.S., on top of a $1,000 hike announced earlier this month. The development is important because the company launched the Model 3 refresh in the U.S. less than a month ago.
Ford Appeals To Suppliers: Legacy automaker Ford Motor Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>), which is struggling with its EV transition, is trying hard to cut losses of its EV business. Crain&#8217;s Detroit Business <a href="https://www.crainsdetroit.com/automotive/ford-issues-call-action-ev-suppliers">reported</a> Thursday that the company sent a memo to suppliers, seeking their help to reduce costs.
&#8220;We have all invested heavily in the success of the EV business, and we will all win or lose together,&#8221; Liz Door, Ford&#8217;s chief supply chain officer reportedly said in the memo. &#8220;To enable affordability, it is of paramount importance that our EV portfolio achieves further levels of material cost efficiency.&#8221;
The company asked suppliers to develop &#8220;incremental cost-reduction proposals&#8221; for a list of both current and upcoming EVs, including the F-150 Lightning pickup, next-gen P800 electric pickup, Mustang Mach E, E-Transit van and large electric SUV.
&#8220;We also would be willing to consider ideas that may require investment but support profitability. Everything is on the table,&#8221; Door reportedly said.
See Also: <a href="https://www.benzinga.com/money/best-electric-vehicle-stocks">Best Electric Vehicle Stocks</a>
Faraday Future&#8217;s Stratospheric Rally: Struggling EV startup Faraday Future Intelligent Electric Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FFIE#NASDAQ">FFIE</a>) saw its shares catapult from $0.0460 on May 10 to $1.03 on Friday. In percentage terms, the gain is a mouthwatering 2,000%. The gain came despite a lack of any significant news from the company. Incidentally, the stock rose as high as $3.90 intraday on Friday. The marked outperformance versus the market may be attributable to strong retail buying in the stock amid a resurgence in the meme rally this week. Frenzied retail buying is believed to have set in motion a short squeeze, going by the elevated short interest in the stock.
Rivian Partners With Google: Close on the heels of the Alphabet, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) I/O event, Rivian Automotive, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>) said it would soon introduce Google Cast and YouTube in its R1&#8217;s central display. 
&#8220;Whether you're charging or relaxing at a campsite, you'll soon be able to stream high-definition video content, with high-quality sound, from cast-enabled apps on your iPhone or Android phone or tablet directly to your vehicle. And with a 15-inch touchscreen and immersive audio system, your Rivian is practically a home theater,&#8221; it said.
<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">Coming soon. Rivian and Google are excited to partner on Google Cast and <a href="https://twitter.com/YouTube?ref_src=twsrc%5Etfw">@YouTube</a> integration for R1T and R1S — bringing your favorite entertainment right to your vehicle. You'll be able to stream high-definition video content with high-quality sound directly to your center… <a href="https://t.co/jAZnAVqqF9">pic.twitter.com/jAZnAVqqF9</a>
&mdash; Rivian (@Rivian) <a href="https://twitter.com/Rivian/status/1790790099887866210?ref_src=twsrc%5Etfw">May 15, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
<a href="https://stories.rivian.com/google-cast?utm_medium=social&amp;utm_source=twitter&amp;utm_campaign=shop_now_05152024&amp;utm_content=blog#section-5699125"></a>
Nio&#8217;s Model Y Killer Drives In: Chinese premium EV maker Nio, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NIO#NYSE">NIO</a>) unveiled the first vehicle under its affordable ONVO brand this week. The vehicle, named ONVO L60, is a smart electric mid-size family SUV. The &#8220;L60 will bring mainstream family users vehicle experiences of premium quality,&#8221; the company said. Nio began taking preorders for the vehicle, with deliveries to start in the third quarter of 2024. The EV has a starting price of 219,900 yuan ($30,500). Nio said previously that the <a href="https://www.benzinga.com/news/24/05/38893924/tesla-faces-stiff-price-competition-in-china-from-latest-entrants-nios-onvo-l60-and-xiaomi-su7">L60 will take on Tesla&#8217;s Model Y, </a>which has a starting price below 249,900 yuan in China. 
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 up 0.50% at $22.35, according to <a href="https://benzinga.grsm.io/lxquj26b2sag">Benzinga Pro data.</a> For the week, the ETF gained about a percent.
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: <a href="https://www.benzinga.com/markets/equities/24/05/38889994/why-cant-tesla-just-grant-elon-musk-a-new-pay-package-critic-and-legal-expert-says-ceo-cant-repl">Why Can&#8217;t Tesla Just Grant Elon Musk A New Pay Package? Critic And Legal Expert Says CEO &#8216;Can&#8217;t Replicate The Stock-Pumping Feats&#8217; From 2018</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>+5.34%</td>
</tr>
<tr>
<td>Nio, Inc.(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NIO#NYSE">NIO</a>)</td>
<td>+4.14%</td>
</tr>
<tr>
<td>XPeng, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPEV#NYSE">XPEV</a>)</td>
<td>+7.37%</td>
</tr>
<tr>
<td>Li Auto, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LI#NASDAQ">LI</a>)</td>
<td>-6.74%</td>
</tr>
<tr>
<td>Fisker</td>
<td>+78.86%</td>
</tr>
<tr>
<td>Workhorse Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WKHS#NASDAQ">WKHS</a>)</td>
<td>+33.33%</td>
</tr>
<tr>
<td>Hyzon Motors, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HYZN#NASDAQ">HYZN</a>)</td>
<td>+2.94%</td>
</tr>
<tr>
<td>Canoo, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOEV#NASDAQ">GOEV</a>)</td>
<td>+8.59%</td>
</tr>
<tr>
<td>Rivian </td>
<td>+5.11%</td>
</tr>
<tr>
<td>Lucid Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LCID#NASDAQ">LCID</a>)</td>
<td>+6.77%</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>+2,134.27%</td>
</tr>
<tr>
<td>Nikola Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NKLA#NASDAQ">NKLA</a>)</td>
<td>-0.39%</td>
</tr>
<tr>
<td>VinFast Auto Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VFS#NASDAQ">VFS</a>)</td>
<td>+62.13%</td>
</tr>
</tbody>
</table>
</figure>
Photo: Shutterstock

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Tesla Sweats Over Approval Of Elon Musk's Pay Plan, Ford's Distress Call To Suppliers, Faraday Future's Mouthwatering Rally And More: Biggest EV Stories Of The Week

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.
The Dow Jones Industrial Average made history on Friday by closing above the significant 40,000 mark for the first time, following a breakthrough in the previous trading session.
Stocks ended the week <a href="https://www.benzinga.com/markets/equities/24/05/38902451/wall-street-jumps-back-to-record-highs-dow-hits-40-000-as-inflation-fears-recede-meme-stock-fren">on a high note</a>, with the Dow rising 1.2%, achieving its fifth consecutive weekly gain. The S&amp;P 500 and Nasdaq also saw weekly increases of 1.5% and 2.1%, respectively, securing their longest winning streak since February.
In April, the Consumer Price Index (CPI) rose by 3.4% compared to the same month last year. This was a slight decrease from March&#8217;s 3.5% annual rate and aligned with expectations.
Jamie Dimon, CEO of JPMorgan Chase &amp; Co., expressed concerns about the national deficit, which hit $1.9 trillion in 2024, accounting for over 6% of GDP.
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>
&#8220;<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38808984/teslas-genius-move-or-price-cut-in-disguise-analysts-dissect-ev-giants-0-99-model-y">Tesla&#8217;s Genius Move Or Price Cut In Disguise? Analysts Dissect EV Giant&#8217;s $0.99 Model Y</a>,&#8221; by <a href="https://www.benzinga.com/author/shanthi-rexaline">Shanthi Rexaline</a>, explores analysts&#8217; perspectives on Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) offering a $0.99 lease option for the Model Y, debating whether it&#8217;s a strategic innovation or simply a disguised price reduction.
&#8220;<a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38786530/dogecoin-killer-shiba-inu-pushes-mainstream-adoption-and-is-on-the-verge-of-4x-breakout">Dogecoin Killer Shiba Inu Pushes Mainstream Adoption And Is On The Verge Of 4x Breakout</a>,&#8221; by <a href="https://www.benzinga.com/author/khyathi-dalal">Khyathi Dalal</a>, discusses how Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>) is driving mainstream adoption and is poised for a significant breakout, potentially increasing in value by four times.
&#8220;<a href="https://www.benzinga.com/markets/cannabis/24/05/38880719/biden-announces-monumental-marijuana-rescheduling-doj-to-take-next-steps">Biden Announces Monumental Marijuana Rescheduling, DOJ To Take Next Steps</a>,&#8221; by <a href="https://www.benzinga.com/author/maureen-meehan">Maureen Meehan</a>, reports that President Joe Biden has initiated a significant move to reschedule marijuana, with the Department of Justice set to follow up on this policy change, impacting companies like Canopy Growth Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CGC#NASDAQ">CGC</a>) and Tilray Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLRY#NASDAQ">TLRY</a>).
For additional bullish calls of the past week, check out the following:
<a href="https://www.benzinga.com/news/24/05/38887887/tim-cook-touts-powerful-new-features-as-apple-introduces-ways-for-users-to-control-iphones-by-simply">Tim Cook Touts &#8216;Powerful New Features&#8217; As Apple Introduces Ways For Users To Control iPhones By Simply Moving Their Eyes</a>
<a href="https://www.benzinga.com/news/24/05/38885171/reddit-stock-pops-on-partnership-with-openai-the-details">Reddit Stock Pops On Partnership With OpenAI: The Details</a>
<a href="https://www.benzinga.com/top-stories/24/05/38796324/bitcoin-to-150-000-former-trump-ally-skybridge-founder-anthony-scaramucci-predicts-top-crypto-will-m">Bitcoin To $150,000? Former Trump Ally, SkyBridge Founder Anthony Scaramucci Predicts Top Crypto Will More Than Double In Price</a>
The Bears
&#8220;<a href="https://www.benzinga.com/top-stories/24/05/38880117/exclusive-citron-researchs-andrew-left-is-short-gamestop-again">EXCLUSIVE: Citron Research&#8217;s Andrew Left Is Short GameStop Again</a>,&#8221; by <a href="https://www.benzinga.com/author/chris-katje">Chris Katje</a>, reveals that Andrew Left has once again shorted GameStop Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>), asserting that the stock remains overvalued despite its rollercoaster history with short squeezes.
&#8220;<a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38834745/ethereum-spot-etf-approval-odds-decrease-for-later-this-month-as-analyst-points-out-sec-co">Ethereum Spot ETF Approval Odds Decrease For Later This Month As Analyst Points Out SEC Concerns</a>,&#8221; by<a href="https://www.benzinga.com/author/aniket-verma"> Aniket Verma</a>, explains that the likelihood of an Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) spot ETF approval has diminished due to ongoing concerns raised by the SEC.
<a href="https://www.benzinga.com/general/social-media/24/05/38828268/robert-f-kennedy-sues-meta-platforms-ceo-mark-zuckerberg-accuses-social-media-giant-of-suppr">Suppression</a>,&#8221; by <a href="https://www.benzinga.com/author/chris-katje">Chris Katje</a>, reports that Robert F. Kennedy Jr. has filed a lawsuit against Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) CEO Mark Zuckerberg, alleging the suppression of free speech on the social media platform.
For more bearish takes, be sure to see these posts:
<a href="https://www.benzinga.com/markets/equities/24/05/38876672/amc-entertainment-a-dead-company-walking-says-bear-cave-report">AMC Entertainment: A &#8216;Dead Company Walking,&#8217; Says Bear Cave Report</a>
<a href="https://www.benzinga.com/markets/equities/24/05/38831590/5-ways-the-gamestop-meme-stocks-rally-could-fizzle-stock-offerings-boredom-and-more">5 Ways The GameStop, Meme Stocks Rally Could Fizzle: Stock Offerings, Boredom And More</a>
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38840668/gold-bull-peter-schiff-says-inflation-headed-far-higher-as-powell-refuses-to-acknow">Gold Bull Peter Schiff Says Inflation Headed &#8216;Far Higher&#8217; As Powell &#8216;Refuses To Acknowledge&#8217; Policy Mistake During COVID-19</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.

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Benzinga Bulls And Bears: Tesla, GameStop, Tilray And Crypto Trader Says Shiba Inu Could 4X

Ever felt your dream job and the skills you nurtured with so much passion have made living every day a nightmare? Fret not, you&nbsp;are not alone. Many of us navigating&nbsp;the treacherous waters of&nbsp;today's fast-paced and (often) toxic work environment can relate to this.&nbsp;
Here are five red flags I wish I had recognized sooner and subsequently taken action to reclaim my sanity at work:&nbsp;
Lack Of Transparency: The Beginning Of Mistrust&nbsp;
&#8220;Communication is key&#8221; — this phrase isn't repeated in almost every lecture on team building just because it sounds good, but because unclear communication can lead to chaos. If your bosses or colleagues are being secretive, withholding information, and you feel like you're stumbling in the dark, that's a warning sign.
<figure class="wp-block-image size-large"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/10105309/DALL%C2%B7E-2024-05-10-20.22.41-A-dynamic-and-chaotic-office-scene-in-a-horizontal-painting-format.-The-office-is-bustling-with-activity-as-employees-run-frantically-across-the-room-1024x585.webp" alt="" class="wp-image-332819" /><figcaption class="wp-element-caption">Representational image of a chaotic office &#x7C; Image generated using Dall-E</figcaption></figure>
Micromanagement Madness: The Seed That Gives Birth To Insecurity&nbsp;
We all want to learn, and we all want to grow. Most of us also know our limitations and where we need help from our seniors. But, if your boss is breathing down your neck, questioning everything you do, and stifling every ounce of creativity or autonomy left in your body, that's a warning sign.
<figure class="wp-block-image size-large"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/10112942/DALL%C2%B7E-2024-05-10-20.59.23-A-horizontal-painting-illustrating-a-tense-office-scenario-where-a-boss-is-nagging-at-an-employee.-The-boss-a-middle-aged-woman-is-standing-and-poin-1024x585.webp" alt="" class="wp-image-332900" /><figcaption class="wp-element-caption">Representational of a boss micro-managing the employee &#x7C; Image generated using Dall-E</figcaption></figure>
Persistent Negativity: The Cultivator Of Toxic Atmosphere
An office environment where every update, feedback, and word of communication&nbsp;is filled&nbsp;with&nbsp;negativity,&nbsp;is a place where even the most enthusiastic employees cannot shine. If your bosses or colleagues focus more on problems&nbsp;instead of&nbsp;finding solutions, that's a warning sign.
<figure class="wp-block-image size-large"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/10113334/DALL%C2%B7E-2024-05-10-21.03.16-A-horizontal-illustration-of-a-highly-stressful-office-scene.-The-office-is-chaotic-with-bosses-yelling-at-their-employees.-In-the-foreground-one-bos-1024x585.webp" alt="" class="wp-image-332907" /><figcaption class="wp-element-caption">Representational image of an office with toxic atmosphere &#x7C; Image generated using Dall-E</figcaption></figure>
High Turnover Rates: The Result Of Poor Leadership
Frequent changes in the workforce mean poor leadership, a toxic work environment, and a lack of growth opportunities at the company.&nbsp;If&nbsp;your organization cannot retain talented employees, it is a warning sign.
<figure class="wp-block-image size-large"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/10113520/DALL%C2%B7E-2024-05-10-21.05.05-A-horizontal-illustration-of-an-office-scene-depicting-high-turnover-rates-due-to-poor-leadership.-The-office-environment-is-chaotic-with-employees-p-1024x585.webp" alt="" class="wp-image-332911" /><figcaption class="wp-element-caption">Representational image of an office with high turnover rates &#x7C; Image generated using Dall-E</figcaption></figure>
Blurred Work-Life Boundaries: The End Where You Sacrifice Almost Everything
Unlike&nbsp;how&nbsp;TV shows and movies romanticize round-the-clock availability in a workplace, sacrificing personal time for work can quickly lead to burnout. If your bosses have unhealthy expectations or&nbsp;your&nbsp;Slack notifications follow you at the dinner table, that's a warning sign.
<figure class="wp-block-image size-large"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/10114124/DALL%C2%B7E-2024-05-10-21.11.08-A-horizontal-illustration-showing-an-employee-struggling-to-work-during-a-beach-vacation.-The-scene-is-vibrant-with-clear-blue-skies-and-a-sandy-beac-1024x585.webp" alt="" class="wp-image-332922" /><figcaption class="wp-element-caption">Representational image of an employee who is working even when he is on vacation &#x7C; Image generated using Dall-E</figcaption></figure>
Feature Image Via Shutterstock

I Once Worked At A Toxic Workplace. It Was So Suffocating That It Made Me Hate My Dream Job: Here Are 5 Warning Signs To Watch Out For So You Don't End Up Repeating The Mistakes I Made

Keith Gill, better known by his online aliases Roaring Kitty and DeepF&#x2A;&#x2A;kingValue (DFV), has <a href="https://www.benzinga.com/general/social-media/24/05/38902044/roaring-kitty-x-account-follower-account-up-over-100-how-much-ad-revenue-do-gamestop-memes-v">re-emerged on social media</a> after a three-year hiatus.
Gill, a former college track star turned financial analyst, became an unlikely hero during the epic GameStop (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">GME</a>) short squeeze of 2021.
From College Track To Wall Street Bets
Born in Brockton, Massachusetts in 1986, Gill&#8217;s athletic prowess landed him All-America honors in college. 
However, his passion shifted towards the financial world. By 2019, Gill, convinced that GameStop stock was significantly undervalued, began sharing his analysis online. 
Under the handle Roaring Kitty on YouTube and Twitter, he streamed for hours, passionately explaining his bullish case on GME. 
The same year, he joined Reddit under the username DFV, initially investing $53,000 in the company.
The Rise And Fall (And Rise?) Of A Meme Stock
Gill&#8217;s conviction and detailed analysis resonated with a large community of retail investors, particularly on the Reddit forum WallStreetBets. 
As the pandemic raged and interest rates remained low, retail investor participation surged. 
Fuelled by Gill&#8217;s unwavering belief in GameStop&#8217;s potential, a buying frenzy ensued, sending the stock price soaring to a peak of $483 in early 2021. 
This meteoric rise turned Gill&#8217;s initial $53,000 investment into a staggering $48 million windfall.
A Congressional Hearing And Legal Battles
The GameStop saga attracted significant scrutiny. 
Gill testified before Congress in February 2021, reiterating his belief in the company&#8217;s fundamentals. 
He also faced a class-action lawsuit accusing him of market manipulation, which was ultimately dismissed.
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38898114/coinbase-says-ethereum-etf-approval-more-likely-than-you-think-heres-why">Coinbase Says Ethereum ETF Approval More Likely Than You Think— Here&#8217;s Why</a>
A Legend Returns &#8211; But Can He Repeat History?
After his meteoric rise and subsequent disappearance from the online sphere, Gill&#8217;s recent return has sent shockwaves through the financial world. 
His simple tweet featuring a video game meme has reignited speculation about a potential return to the meme stock frenzy.
Lessons Learned: Hype, Influencers, And The Power Of Retail
The GameStop story offers valuable lessons for today&#8217;s retail investors, particularly in the burgeoning crypto space. 
The event highlighted the power of online communities, influencer narratives and the unpredictable nature of markets fueled by hype.
We&#8217;ve seen similar phenomena play out recently with certain popular meme coins like Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) and Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>), where social media hype and celebrity endorsements sent their prices soaring – though not without significant volatility. 
While Gill&#8217;s return is undoubtedly significant, replicating the 2021 phenomenon might be difficult.
The Road Ahead
As retail investor influence continues to grow, especially in the crypto world, Gill&#8217;s story serves as a cautionary tale and a reminder of the importance of responsible investing. 
Whether Gill can spark another meme stock frenzy remains to be seen, but his return undeniably marks a new chapter in the saga of <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38878472/before-you-trust-another-crypto-guru-read-this-studys-results">retail investor influence</a> in the financial markets.
Read Next:<a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38897746/i-will-be-going-full-tilt-vs-the-white-house-experts-urge-bipartisan-support-for-sound-pol"> &#8216;I Will Be Going Full Tilt Vs The White House:&#8217; Experts Urge Bipartisan Support For Sound Policies Because &#8216;Pro-Crypto Is Pro-American Values&#8217;</a>

$GME

Retail Trading Legend Roaring Kitty Returns After Three Years—Can He Spark Another Frenzy?

American singer-songwriter Kid Rock arrived at AT&amp;T Stadium in Arlington, Texas on Friday for a live concert on the truck bed of an <a href="https://www.benzinga.com/topic/cybertruck">orange-wrapped Cybertruck</a>, reminiscent of General Lee from The Dukes of Hazzard television series.
What Happened: The rapper performed at AT&amp;T on Friday as part of the Kid Rock&#8217;s Rock N Rodeo; a reimagined Rodeo event produced by Professional Bull Riders (PBR) in partnership with Kid Rock. 
The rapper, known for &#8220;Bawitdaba,&#8221; &#8220;All Summer Long,&#8221; and &#8220;Cowboy,&#8221; performed for a crowd of over 23,000 people at the event.
He rode in for the concert on an orange Cybertruck with &#8217;01&#8217; marking on the door, marking a stark resemblance to the General Lee car from The Dukes of Hazzard television series. General Lee, an orange 1969 Dodge Charger manufactured by Chrysler, gained popularity as part of the late 1950s television series where it performed several stunts and police chases.
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Why It Matters: In an interview with Joe Rogan earlier this year, Kid Rock said that he &#8220;loves&#8221; Tesla CEO Elon Musk and requested a free Cybertruck. The rapper said that he would purchase the vehicle if he liked it and wrap it in gold or camouflage. 
Musk, however, has previously clarified that <a href="https://www.benzinga.com/general/entertainment/24/02/37062490/elon-musk-shuts-down-snoop-doggs-request-for-free-tesla-everyone-pays-full-price-including-">nobody gets a discount on Tesla vehicles</a>, including himself. 
Kid Rock is not the only celebrity to have taken delivery of the Cybertruck. The <a href="https://www.benzinga.com/general/entertainment/24/02/37412516/they-clearly-have-great-taste-tesla-ceo-elon-musk-thrilled-by-growing-list-of-celebs-buying">long list of celebrity Cybertruck owners</a> reportedly includes socialite&nbsp;Kim Kardashian, singer&nbsp;Lady Gaga, songwriter&nbsp;Pharrell Williams, tennis star&nbsp;Serena Williams, basketball player&nbsp;Shai Gilgeous-Alexander, singer&nbsp;Justin Bieber,&nbsp;television host&nbsp;Jay Leno, and music power couple&nbsp;Jay-Z and Beyoncé.
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 More: <a href="https://www.benzinga.com/news/24/05/38907041/tesla-bull-gary-black-expects-ceo-elon-musks-56b-pay-package-to-be-reinstated-should-eliminate-any-p">Tesla Bull Gary Black Expects CEO Elon Musk&#8217;s $56B Pay Package To Be Reinstated; &#8216;&#8230;Should Eliminate Any Possibility Of Elon Leaving&#8217;</a>
Photo via Shutterstock

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Rapper Kid Rock Drives Into Live Concert In Texas On Custom Cybertruck Resembling General Lee

Anthony Scaramucci, SkyBridge Capital founder and former ally of ex-President Donald Trump predicted that <a href="http://Tesla Bull Gary Black Says 'Likely' Approval Of Elon Musk's $56B Pay Package Is 'Next Major Catalyst' For The Company">more pension funds</a> will soon include Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) in their investment portfolios.
What Happened: In an interview with CNBC, Scaramucci suggested that the State of Wisconsin&#8217;s decision to invest in Bitcoin for retirement benefits could lead to other pension funds following suit.
According to new U.S. Securities and Exchange Commission (SEC) filings, the State of Wisconsin Investment Board has invested approximately $163 million in BlackRock&#8217;s iShares Bitcoin Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBIT#NASDAQ">IBIT</a>) and Grayscale&#8217;s Bitcoin Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GBTC#NYSE">GBTC</a>).
Scaramucci believes that institutional adoption of Bitcoin is currently underway and that the recent regulatory approval for Bitcoin has removed a significant barrier for large-scale institutions.
&#8220;Bitcoin now has the regulatory approval. And I think that was the rate-limiting step for a lot of these large-scale institutions… A lot of smart institutions are saying, ‘Let me get long this thing.&#8217; before it becomes part of a total tactical allocation index," he said.
Scaramucci also emphasized that Bitcoin is still in the early stages of adoption. 
"Sometimes when you're early, you get a lot of bumps and scrapes. But I think it pays to be early in Bitcoin and I think we're still early in Bitcoin," he said. 
Why It Matters: Scaramucci&#8217;s recent prediction aligns with his previous bullish stance on Bitcoin.
Just a few days ago, on <a href="https://www.youtube.com/live/IANkT98LLXA?si=zFWDBcY4Z_drlW2j&amp;t=2294" target="_blank" rel="noreferrer noopener">Benzinga&#8217;s PreMarket Prep Monday</a>, he <a href="https://www.benzinga.com/top-stories/24/05/38796324/bitcoin-to-150-000-former-trump-ally-skybridge-founder-anthony-scaramucci-predicts-top-crypto-will-m">forecasted that Bitcoin would </a>eventually hit $150,000, attributing this to the increasing global adoption of the cryptocurrency.
He also noted that Bitcoin makes up over 30% of SkyBridge&#8217;s assets and that he is more bullish on Bitcoin at $60,000 than he was when it was at $30,000 last year due to the recent ETF adoptions from Blackrock Inc. and other large financial firms.
&#8220;You only have 4.8% of the globe in Bitcoin,&#8221; Scaramucci said on Monday. &#8220;That&#8217;s akin to Web 1 in 1999, and I would just tell you to look at the Web 1 volatility of stocks like Amazon, eBay, etcetera back in 1999. As things are adapting and scale, and I predict Bitcoin will scale, you will see the situation where Bitcoin has a billion users, the value of that network will be exponentially larger and Bitcoin will be at $150,000.&#8221;
Price Action: Bitcoin was trading at $66,888, up 0.72% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
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Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38857448/bitcoin-ethereum-dogecoin-spike-on-good-macro-news-so-far-so-good-says-bullish-trader?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin, Ethereum, Dogecoin Spike On Good Macro News: &#8216;So Far, So Good,&#8217; Says Bullish Trader</a>
Photo by World Economic Forum on Flickr
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Former Trump Ally Anthony Scaramucci Foresees More Pension Funds Investing In Bitcoin: 'We Are Still Early'

Future Fund&nbsp;Managing Partner&nbsp;Gary Black believes Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO Elon Musk&#8216;s 2018 compensation package will likely be overwhelmingly <a href="https://www.benzinga.com/news/24/04/38288360/breaking-tesla-shareholders-to-vote-again-on-ceo-elon-musks-voided-47b-pay-package">approved by shareholders</a> in the upcoming annual meeting, rendering a &#8220;huge positive&#8221; to the company.
What Happened: Black is of the opinion that the annual shareholder meeting expected to be held on June 13, 2024, at 3:30 p.m. Central Time (CT) will be the next &#8220;major catalyst&#8221; for the company.
Once Musk&#8217;s rescinded 2018 compensation package is restored by the vote of shareholders, it would eliminate the possibility of the CEO leaving, thereby rendering a &#8220;huge positive&#8221; for the company, he said in a post on social media platform X, formerly Twitter.
Currently, while Tesla continues to ramp efforts and achievements in the direction of autonomous driving, earnings estimates are low owing to price cuts and falling delivery estimates, he said. Black holds a price target of $200 for Tesla.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24TSLA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TSLA</a> on the other hand, continues to make great strides in FSD and autonomous driving, but earnings estimates keep falling because of price cuts and now ironically falling delivery estimates (usually price cuts increase volumes). The next major catalyst is the June 13th annual… <a href="https://t.co/lgTW204Ygz">pic.twitter.com/lgTW204Ygz</a>
&mdash; Gary Black (@garyblack00) <a href="https://twitter.com/garyblack00/status/1791516365985112549?ref_src=twsrc%5Etfw">May 17, 2024</a></blockquote>
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Why It Matters: Black is not the only one looking forward to the meeting. In a note earlier this month, Morgan Stanley&nbsp;analyst&nbsp;Adam Jonas said that the upcoming meeting will drive material volatility in the stock and determine the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38774504/tesla-analyst-sees-annual-shareholder-meeting-as-key-to-determining-elon-musk-led-c">company's long-term strategic direction</a>.
Musk&#8217;s 2018&nbsp;pay package was rescinded by a Delaware court earlier this year after deeming it an "unfathomable sum." The stock-based pay package was worth $56 billion at the time of award. 
Tesla&#8217;s board is trying to have it reinstated by a shareholder vote yet again in June, including by <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38814489/tesla-spends-on-musks-pay-vote-ads-but-ross-gerber-feels-ev-giant-could-advertise-w">investing in advertisements</a> to the effect. 
Price Action: Tesla shares closed 1.5% higher on Friday at $177.46, according to <a href="https://pro.benzinga.com/dashboard" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>.
Check out more of Benzinga'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 More:&nbsp;<a href="https://www.benzinga.com/news/24/05/38906756/boeings-outgoing-ceo-dave-calhoun-reelected-to-board-despite-safety-concerns-at-company">Boeing&#8217;s Outgoing CEO Dave Calhoun Reelected To Board Despite Safety Concerns At Company</a>
Image made via photos on Shutterstock

Tesla Bull Gary Black Says 'Likely' Approval Of Elon Musk's $56B Pay Package Is 'Next Major Catalyst' For The Company

Saudi Prince Turki bin Salman Al Saud has seemingly taken delivery <a href="https://www.google.com/search?q=site%3Abenzinga.com+cybertruck+anan&amp;sca_esv=189ba783b38f146b&amp;sca_upv=1&amp;rlz=1C1ONGR_enIN1061IN1062&amp;ei=_j1IZsq2DM_j2roPmJyV-AY&amp;ved=0ahUKEwjKrcCfvZaGAxXPsVYBHRhOBW8Q4dUDCBA&amp;uact=5&amp;oq=site%3Abenzinga.com+cybertruck+anan&amp;gs_lp=Egxnd3Mtd2l6LXNlcnAiIXNpdGU6YmVuemluZ2EuY29tIGN5YmVydHJ1Y2sgYW5hbkjcCVCUBFjUBnABeACQAQGYAa4CoAG5BKoBBTMuMy0xuAEDyAEA-AEBmAIAoAIAmAMAiAYBkgcAoAe0AQ&amp;sclient=gws-wiz-serp">of a Cybertruck </a>and Tesla Inc. CEO Elon Musk is pleased.
What Happened: Pictures circulating on social media platform X show the Prince posing by Tesla&#8217;s latest vehicle &#8211; the stainless steel Cybertruck. Benzinga was not immediately able to confirm if the Prince indeed purchased the vehicle.
Musk, however, shared the image with a short, &#8220;Cool.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Cool <a href="https://t.co/oS0gzawPCg">https://t.co/oS0gzawPCg</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1791692285757034788?ref_src=twsrc%5Etfw">May 18, 2024</a></blockquote>
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Prince Turki bin Salman Al Saud is the chairman of Saudi&#8217;s Tharawat Holding Company and also the brother of Saudi Prime Minister and Crown Prince Mohammed bin Salman.
The Tesla Cybertruck has previously been purchased by <a href="https://www.benzinga.com/general/entertainment/24/02/37412516/they-clearly-have-great-taste-tesla-ceo-elon-musk-thrilled-by-growing-list-of-celebs-buying">several popular names</a> including bureaucrats and artists. The list of celebrity Cybertruck owners reportedly includes socialite&nbsp;Kim Kardashian, singer&nbsp;Lady Gaga, songwriter&nbsp;Pharrell Williams, tennis star&nbsp;Serena Williams, basketball player&nbsp;Shai Gilgeous-Alexander, singer&nbsp;Justin Bieber,&nbsp;television host&nbsp;Jay Leno, and music power couple&nbsp;Jay-Z and Beyoncé.
Musk previously commended popular figures for purchasing the vehicle and said, &#8220;Well, they clearly have great taste!&#8221; The CEO further sought to clarify that none of these celebrities were paid by Tesla to promote the vehicle or provided any discounts for their purchase. 
Why It Matters: While Tesla intends to deliver 250,000 Cybertrucks every year starting in 2025, the company is currently only ramping production. The low production volume, coupled with the Cybertruck&#8217;s stainless steel exterior, angular design, and higher price point has <a href="https://www.benzinga.com/news/24/03/38012526/did-marques-brownlee-set-a-new-world-record-with-teslas-cybertruck-youtube-review-sparks-speculation">made it a celebrity pick</a>. 
The higher-end version of the Cybertruck is priced at $99,990 in the U.S. and the company delivers the vehicle only in the country. Hence it is likely that the Saudi Prince had to have it shipped to the Middle East if he purchased it. 
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next: <a href="https://www.benzinga.com/news/24/05/38906539/tesla-makes-its-3-millionth-car-in-california-despite-rising-inventory-layoffs">Tesla Makes Its 3 Millionth Car In California Despite Rising Inventory, Layoffs</a>
Photo via Shutterstock

Tesla Cybertruck Seemingly Drives To Saudi Royal Family; Elon Musk Thinks It's 'Cool'

A former top safety executive at OpenAI, Jan Leike, has publicly criticized the company&#8217;s leadership for prioritizing &#8220;shiny products&#8221; over AI safety days <a href="https://www.benzinga.com/news/24/05/38834519/openai-chief-scientist-ilya-sutskever-steps-down-ceo-sam-altman-calls-him-a-guiding-light-of-ai-fiel">after his departure</a>.
What Happened: Leike, who was a key figure in OpenAI&#8217;s superalignment group, announced his resignation on Tuesday. In a candid post on X, Leike wrote, &#8220;I resigned."
While he did not immediately explain why he resigned, Leike has now detailed his disagreements with OpenAI leadership in several posts.
"Stepping away from this job has been one of the hardest things I have ever done because we urgently need to figure out how to steer and control AI systems much smarter than us."
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Stepping away from this job has been one of the hardest things I have ever done, because we urgently need to figure out how to steer and control AI systems much smarter than us.
&mdash; Jan Leike (@janleike) <a href="https://twitter.com/janleike/status/1791498177327341609?ref_src=twsrc%5Etfw">May 17, 2024</a></blockquote>
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Leike further elaborated on his decision, stating that OpenAI&#8217;s safety culture and processes have been sidelined in favor of &#8220;shiny products.&#8221; He expressed his disagreement with the company&#8217;s core priorities and emphasized the urgent need for Microsoft Corp.-backed (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) OpenAI to become a &#8220;safety-first AGI company.&#8221;
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
"But over the past years, safety culture and processes have taken a backseat to shiny products."
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">But over the past years, safety culture and processes have taken a backseat to shiny products.
&mdash; Jan Leike (@janleike) <a href="https://twitter.com/janleike/status/1791498184671605209?ref_src=twsrc%5Etfw">May 17, 2024</a></blockquote>
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Leike&#8217;s departure was followed by a similar announcement from Ilya Sutskever, the other superalignment team leader. Altman acknowledged Leike&#8217;s contributions and expressed his commitment to addressing the issues raised.
He also responded to Leike's criticism, acknowledging the complaints he raised instead of taking an adversarial approach to it.
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/05/38849496/elon-musk-recalls-breaking-friendship-with-googles-larry-page-over-ilya-sutskever-linchpin-for-opena?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Recalls Breaking Friendship With Google's Larry Page Over Ilya Sutskever: ‘Linchpin For OpenAI Being Successful&#8217;</a>
"I&#8217;m super appreciative of @janleike&#8217;s contributions to OpenAI&#8217;s alignment research and safety culture, and very sad to see him leave,&#8221; Altman said. &#8220;He&#8217;s right we have a lot more to do; we are committed to doing it. I&#8217;ll have a longer post in the next couple of days.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">i&#39;m super appreciative of <a href="https://twitter.com/janleike?ref_src=twsrc%5Etfw">@janleike</a>&#39;s contributions to openai&#39;s alignment research and safety culture, and very sad to see him leave. he&#39;s right we have a lot more to do; we are committed to doing it. i&#39;ll have a longer post in the next couple of days. &#x1f9e1; <a href="https://t.co/t2yexKtQEk">https://t.co/t2yexKtQEk</a>
&mdash; Sam Altman (@sama) <a href="https://twitter.com/sama/status/1791543264090472660?ref_src=twsrc%5Etfw">May 17, 2024</a></blockquote>
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Why It Matters: The recent resignations at OpenAI have raised concerns about the company&#8217;s future in AI safety. The departures of Sutskever and Leike, along with other safety-focused employees, have been attributed to a <a href="https://www.benzinga.com/news/24/05/38906742/amid-mass-exodus-from-openais-ai-safety-team-insider-says-trust-collapsing-bit-by-bit-in-ceo-sam-alt">loss of trust in Altman&#8217;s leadership</a>.
These resignations follow a series of significant events at OpenAI, including <a href="https://www.benzinga.com/news/24/05/38834519/openai-chief-scientist-ilya-sutskever-steps-down-ceo-sam-altman-calls-him-a-guiding-light-of-ai-fiel">Sutskever&#8217;s departure</a> after nearly a decade with the company. Despite expressing confidence in OpenAI&#8217;s ability to develop artificial general intelligence, Sutskever decided to leave, marking a significant shift in the company&#8217;s leadership.
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:&nbsp;<a href="https://www.benzinga.com/news/24/05/38862733/openai-chief-scientist-that-quit-months-after-participating-in-coup-against-sam-altman-likely-to-joi?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">OpenAI Chief Scientist Who Quit Months After Helping Briefly Oust Sam Altman Likely To Join Elon Musk's xAI</a>
Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

MSFT

Crisis At OpenAI? Top Executive Who Just Quit Says Focus Shifted Away From AI Safety To 'Shiny Products:' Here's Sam Altman's Reply

Bitcoin (BTC) is poised for a <a href="https://www.benzinga.com/top-stories/24/05/38903246/bitcoin-ethereum-dogecoin-rally-amid-1-3b-in-etf-inflows-in-2-weeks-fair-to-assume-that-the-way-to-8">price surge</a> as demand begins to outstrip supply, according to a prominent crypto analyst.
What Happened: &#8220;When supply exceeds demand, the asset&#8217;s price tends to decline. Conversely, when demand outstrips supply, the price usually rises. These same principles apply to Bitcoin,&#8221; crypto analyst Ali Martinez wrote on X on Thursday.
The recent market dynamics, including a rise in the supply of BTC after it hit an <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38202781/bitcoin-surpasses-70-000-following-ppi-data-jasmycoin-emerges-as-top-gainer">all-time high</a> of over $73,700 in March, led to a corrective phase that saw the price of Bitcoin drop below $57,000. This drop caused Bitcoin to fall below its &#8220;Short-Term Holder Realized Price,&#8221; sparking market fear as short-term holders are more likely to sell based on price volatility, the analyst said.
&#8220;The Short-Term Holder Realized Price, which currently stands at $60,500, served as an accumulation point despite investors' fears. Indeed, long-term holders felt comfortable adding more than 70,000 $BTC to their positions at these levels after realizing profits in March,&#8221; he added.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The Short-Term Holder Realized Price, which currently stands at $60,500, served as an accumulation point despite investors' fears. Indeed, long-term holders felt comfortable adding more than 70,000 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> to their positions at these levels after realizing profits in March. <a href="https://t.co/BARIqJM4xH">pic.twitter.com/BARIqJM4xH</a>
&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1791128330109952498?ref_src=twsrc%5Etfw">May 16, 2024</a></blockquote>
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Martinez now predicts that the demand for Bitcoin will soon surpass the supply, <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38897781/bitcoin-shows-highest-daily-gains-in-2-months-jack-dorsey-says-price-will-surpass-1-millio">pushing Bitcoin value upwards</a>. He pointed to the movement of over 30,000 BTC to private wallets for long-term holding since early May as evidence of confidence among holders in Bitcoin&#8217;s future value.
Why It Matters: Cryptocurrencies like Bitcoin, Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>), Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>), and Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>) have seen gains this week after increasing institutional interest in spot Bitcoin ETFs <a href="https://www.benzinga.com/top-stories/24/05/38903246/bitcoin-ethereum-dogecoin-rally-amid-1-3b-in-etf-inflows-in-2-weeks-fair-to-assume-that-the-way-to-8">resulted in $1.3 billion inflows</a> in the last two weeks.
The <a href="https://www.benzinga.com/top-stories/24/05/38903246/bitcoin-ethereum-dogecoin-rally-amid-1-3b-in-etf-inflows-in-2-weeks-fair-to-assume-that-the-way-to-8">next Bitcoin price target</a> for bulls, according to &#8220;Bitcoin OG&#8221; Lluciano aka Lucky is $69,000. Crypto researcher Alex Wacy asked if it&#8217;s &#8220;fair to assume that the way to $80K is now open?&#8221;
Price Action: Bitcoin is currently trading at $66,860, rising by 1.94% 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/24/05/38857448/bitcoin-ethereum-dogecoin-spike-on-good-macro-news-so-far-so-good-says-bullish-trader?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin, Ethereum, Dogecoin Spike On Good Macro News: &#8216;So Far, So Good,&#8217; Says Bullish Trader</a>
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Price Target

Bitcoin Price Predicted To Rise Due To 'Demand And Supply Dynamics,' Says Analyst As King Crypto Rebounds 10% In Last 7 Days

WisdomTree U.S. Short-Term Corporate Bond Fund declares monthly distribution of $0.1465

WisdomTree U.S. Short-Term Corporate Bond Fund declares monthly distribution of $0.1650

While fixed-income investors received a nice gift from the Federal Reserve in the final quarter of 2023, we think a better way to assess total returns is by looking at the cumulative impact of Fed Rate hikes

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Latest News for WisdomTree U.S. Short Term Corporate Bond Fund (BATS:SFIG)

Friday, September 07, 2018