Latest News for Syrah Resources Stock (OTC:SRHYY)

Syrah Resources Ltd is an Australia-based company engaged in mining, mineral exploration, evaluation, and development. The company operates in three segments: Balama, Vidalia, and Corporate. All of the company's revenue is derived from the Balama segment, where it produces and sells natural flake graphite from the Balama graphite mine in Mozambique. The company sells graphite globally to customers in Europe, China, India, the Americas, and other locations.

News

Movers & Shakers

Intraday Update

Markets

Movers

Trading Ideas

General

AACS

AAWW

ABMD

ABML

ABSSF

ABUS

ADMS

AGIO

AITA

ALBO

ANDE

APAAF

APYP

ARDS

AREX

ASMB

ATUUF

BIG BLOCKCHAIN INTELGNCE by Big Blockchain Intelligence Group Inc.

BBKCF

BCRX

BCUCY

BOSSY

BTLLF

BYDDY

CBAY

CDEV

CELLCUBE ENERGY STORAGE by Cellcube Energy Storage Sys Inc.

CECBF

CHFFY

CHOOF

CHRA

CLABF

CLVS

CNSL

CRBTF

CTRA

CTXR

CWEGF

DCNNF

DFIHY

DFILF

DIIBF

DLOC

DMPI

DZSI

EBKOF

ECIFY

EHOS

ENBL

ENTA

Embraer-Empresa Brasileira De Aeronautica

ERYP

EXXAY

FANG

FLDM

FRLI

FTCH

FUAPF

FULC

FVANF

GARB

GLDFF

GOSS

GRLVF

GTLL

GXXM

GYNAF

HCBN

HMHC

INDXF

INND

IONKF

IRBT

ISEE

ITRM

JAGX

JARLF

JASN

JCAP

KALV

KGET

KNSA

LATF

LEMIF

LGCYQ

LIVX

LKCO

LMNX

LVVV

Stocks That Hit 52-Week Lows On Wednesday

SYRAH RES LTD SPNS/ADR by Syrah Resources Ltd.

Syrah Resources Ltd

Will Tesla, Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) full self-driving technology pose a risk to the prospects of one of Berkshire Hathaway, Inc.&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRKA#NYSE">BRKA</a>) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRKB#NYSE">BRKB</a>) portfolio companies? Billionaire investor Warren Buffett was asked this question at <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">the company&#8217;s annual shareholder meeting on Saturday.</a>
Tesla A Risk To GEICO? An investor in both Elon Musk&#8216;s Tesla and Berkshire posed a question to Buffett: If Musk succeeds in reducing accidents by 50% compared to human drivers with Full Self-Driving (FSD), wouldn&#8217;t auto insurance rates decrease to reflect the reduced underwriting risk? The investor also asked the investment guru whether this would affect GEICO&#8216;s revenues, float and margins.
In response, Buffett stated that if accident rates decrease, the data will reflect it, and consequently, prices will come down.
&#8220;There have been a lot of people talk about doing that in the past. I mean General Motors used to be very big in the insurance business and when Uber first started, they used some firm, which now is, I think, confirmed they&#8217;re close to bankruptcy &#8230; because of taking things out at the wrong prices,&#8221; he said.
The billionaire said a 50% reduction in accidents is good for society and would be bad for the insurance company&#8217;s volume. 
&#8220;But you know, good for society is what we&#8217;re looking for,&#8221; he said. 
Buffett pointed out that the number of people killed per 100 million passenger miles driven has declined from 15 during his youth to approximately seven after World War II. It has since fallen substantially to around two, Buffett said, giving credit to political activist Ralph Nader, who crusaded for auto safety.
See Also: <a href="https://www.benzinga.com/money/best-financial-services-stocks">Best Financial Services Stocks Right Now</a>
At that point, Ajit Jain, vice chairman of insurance operations, asserted that Tesla&#8217;s belief that the number of accidents will decrease is certainly demonstrable.
&#8220;What needs to be factored in as well is the repair cost of each one of these accidents has skyrocketed,&#8221; he said.
&#8220;If you multiply the number of accidents times the cost of each accident, I&#8217;m not sure that total number has come down as much as Tesla would like us to believe.&#8221;
Jain also remarked that Tesla has been considering the possibility of offering insurance directly or indirectly, but thus far, it hasn&#8217;t experienced significant success.
&#8220;I think &#8230; automation just shifts a lot of the expense from the operator to the equipment provider,&#8221; he said.
Opportunities In EV Space: Buffett was also asked about potential opportunities in the <a href="https://www.benzinga.com/top-stories/23/10/35421390/80-of-the-cars-on-the-road-will-be-evs-in-less-than-10-years-tom-steyer-says">zero-emission vehicles space</a>, as these vehicles have finally reached the cusp of massive adoption.
He said that massive adoption has been a moving target so far. 
&#8220;I hope we get there,&#8221; he said, adding that he didn&#8217;t believe Berkshire brought any special expertise to that field. He noted that vehicle manufacturers were better suited for such endeavors.
&#8220;I would certainly not know how to pick the winners in an industry like that, but I&#8217;ll be delighted if there are some winners, but don&#8217;t count on us for seeing who the winners will be and don&#8217;t count on us for predicting when something will happen,&#8221; Buffett said.
Read Next: <a href="https://www.benzinga.com/news/24/05/38632849/charlie-and-i-warren-buffett-reminisces-about-late-friend-whom-he-credits-as-architect-of-todays-ber">&#8216;Charlie And I:&#8217; Warren Buffett Reminisces About Late Friend, Whom He Credits As &#8216;Architect Of Today&#8217;s Berkshire&#8217;</a>
Photo: Shutterstock

Equities

Tech

BRKA

BRKB

TSLA

Warren Buffett Comments On Whether Elon Musk's FSD Will Impact Berkshire's Auto Insurance Business. Will Oracle Of Omaha Bet On Tesla?

The sight of free food is often too exciting to pass. To make it even better, free food at airport lounges across the world is both a money saver as well as an option that allows you to try different cuisines and local tastes the moment you set foot in a new country.
Airport food can be costly, too, which makes free lounge access that much more attractive.
To help you out, we've compiled a list of the best credit cards that unlock airport lounges around the world.
See Also: <a href="https://www.benzinga.com/general/entertainment/24/04/38335897/no-us-city-makes-the-cut-where-are-the-10-best-airports-in-the-world">No US City Makes The Cut! Where Are The 10 Best Airports In The World?</a>
1. American Express Platinum Credit Card
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="960" height="608" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/04041809/American-Express-Platinum-credit-card.jpg" alt="" class="wp-image-322525" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/04041809/American-Express-Platinum-credit-card.jpg 960w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/04041809/American-Express-Platinum-credit-card-300x190.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/04041809/American-Express-Platinum-credit-card-768x486.jpg 768w" sizes="(max-width: 960px) 100vw, 960px" /><figcaption class="wp-element-caption">American Express Platinum Credit Card &#x7C; Image credit: American Express</figcaption></figure>
American Express Platinum credit card is one of the best if you are looking for extensive lounge access.
With access to over 1,500 lounges across 140 countries, this credit card is as good as it gets. From Centurion Network, Delta Sky Club, Lufthansa Lounge, and Plaza Premium Lounge to Priority Pass Select, you name it, this credit card has it.
2. Chase Sapphire Reserve Credit Card
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="640" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/04041835/Chase-Sapphire-Reserve-Credit-Card-1024x640.jpg" alt="" class="wp-image-322527" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/04041835/Chase-Sapphire-Reserve-Credit-Card-1024x640.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/04041835/Chase-Sapphire-Reserve-Credit-Card-300x188.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/04041835/Chase-Sapphire-Reserve-Credit-Card-768x480.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/04041835/Chase-Sapphire-Reserve-Credit-Card.jpg 1500w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Chase Sapphire Reserve Credit Card &#x7C; Image credit: Chase</figcaption></figure>
The Chase Sapphire Reserve credit card covers over 1,300 lounges thanks to Priority Pass across 148 countries. You can also bring up to two guests for free with this card, making it a flexible and cost-effective option.
3. Capital One Venture X Rewards Credit Card
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="538" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/04041848/Capital-One-Venture-X-Rewards-Credit-Card-1024x538.jpg" alt="" class="wp-image-322529" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/04041848/Capital-One-Venture-X-Rewards-Credit-Card-1024x538.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/04041848/Capital-One-Venture-X-Rewards-Credit-Card-300x158.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/04041848/Capital-One-Venture-X-Rewards-Credit-Card-768x403.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/04041848/Capital-One-Venture-X-Rewards-Credit-Card.jpg 1200w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Capital One Venture X Rewards Credit Card&#x7C; Image credit: Capital One</figcaption></figure>
The Capital One Venture X Rewards credit card gives you access to the Priority Pass Select network as well as unlimited access to Capital One lounges, which are available at Dallas Fort-Worth International Airport, Denver International Airport, and Dulles International Airport.
4. U.S. Bank Altitude Connect Credit Card
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="683" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/04041901/U.S.-Bank-Altitude-Connect-Credit-Card-1024x683.jpg" alt="" class="wp-image-322530" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/04041901/U.S.-Bank-Altitude-Connect-Credit-Card-1024x683.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/04041901/U.S.-Bank-Altitude-Connect-Credit-Card-300x200.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/04041901/U.S.-Bank-Altitude-Connect-Credit-Card-768x512.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/04041901/U.S.-Bank-Altitude-Connect-Credit-Card.jpg 1200w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">U.S. Bank Altitude Connect Credit Card &#x7C; Image credit: U.S. Bank</figcaption></figure>
The U.S. Bank Altitude Connect credit card is a great option if you're just getting started with cards and want to get a taste of how they work. At an annual fee of just $95, you get way more benefits out of these thanks to four free lounge visits in a year, across 1,500 locations worldwide.
5. American Express Delta SkyMiles Reserve Credit Card
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="768" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/04041913/American-Express-Delta-SkyMiles-Reserve-Credit-Card-1024x768.jpg" alt="" class="wp-image-322531" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/04041913/American-Express-Delta-SkyMiles-Reserve-Credit-Card-1024x768.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/04041913/American-Express-Delta-SkyMiles-Reserve-Credit-Card-300x225.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/04041913/American-Express-Delta-SkyMiles-Reserve-Credit-Card-768x576.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/04041913/American-Express-Delta-SkyMiles-Reserve-Credit-Card.jpg 1200w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">American Express Delta SkyMiles Reserve Credit Card &#x7C; Image credit: American Express</figcaption></figure>
If you're a Delta fan, then this is among the best cards you can score. It offers 15 visits to the Delta Sky Club per year, four guest passes, free checked baggage, upgrade priority, and several other benefits.
Image Via Shutterstock

Travel

Love Free Food At Airports? These Five Credit Cards Unlock Airport Lounges Around The World

In a recent private donor event in Florida, former President Donald Trump appeared unfazed <a href="https://www.benzinga.com/news/24/03/37904889/legal-crosshairs-13-donald-trump-properties-on-ny-ags-radar-for-unpaid-taxes">by his ongoing legal issues.</a>
What Happened: NBC reported that Trump addressed his criminal indictments during a luncheon at Mar-a-Lago.&nbsp;
&quot;If you care too much, you tend to choke. And in a way, I don&#39;t care. It&#39;s just, you know, life is life,&quot; the outlet quoted him <a href="https://www.nbcnews.com/politics/donald-trump/trump-biden-administration-gestapo-private-donor-event-rcna150743">saying</a>.
Despite his casual demeanor, Trump confessed to being shocked when he was first indicted.
&quot;Once I got indicted, I said, Holy shit. I just got indicted. Me. I got indicted,&quot; he said.
Trump faced a Manhattan court last month for the first time, answering to 34 counts of falsifying business records related to payments made to adult film actress Stormy Daniels.
Also Read:&nbsp;<a href="https://www.benzinga.com/news/24/01/36523251/donald-trump-suggests-supreme-court-justices-he-appointed-could-go-out-of-their-way-to-hurt-him-in-c" target="_blank">Donald Trump Suggests Supreme Court Justices He Appointed Could &#39;Go Out Of Their Way&#39; To Hurt Him In Colorado Appeal: &#39;I&#39;ve Never Seen Anything Like It&#39;</a>
At the event, Trump also took a jab at Democrats, accusing them of &quot;running a Gestapo administration.&quot; He further claimed that President Joe Biden was &quot;the worst president in the history of our country.&quot;
&quot;Once I got indicted, I said, well, now the gloves have to come off,&quot; Trump said. &quot;The worst president in the history of our country. He&#39;s grossly incompetent. He&#39;s crooked as hell. He&#39;s the Manchurian candidate, he accepts massive amounts of money from China, from Russia, from Ukraine, and many other countries.&quot;
The event was a part of the Republican National Committee&#39;s spring retreat, featuring potential vice president candidates like South Carolina Sen. Tim Scott and New York Rep. Elise Stefanik.
Why It Matters:&nbsp;In April, the <a href="http://www.benzinga.com/news/24/04/38475895/in-week-1-of-donald-trumps-hush-money-trial-a-former-tabloid-exec-revealed-how-ex-president-tried-to">first week of Trump&#39;s criminal trial</a>&nbsp;took place, focusing on hush money payments made during his 2016 presidential campaign.
<a href="http://www.benzinga.com/news/24/05/38630115/trump-vs-biden-latest-polls-dont-bode-well-for-one-candidate-in-tight-presidential-race">Recent polls also suggest that, amid his many legal challenges, the former president could&nbsp;face defeat</a> against Biden in the upcoming 2024 presidential race.
Now Read:&nbsp;<a href="https://www.benzinga.com/news/24/01/36814846/trumps-niece-says-verdict-in-e-jean-carroll-defamation-trial-is-one-of-the-worst-days-in-his-life-do" target="_blank">Trump&#39;s Niece Says Verdict In E. Jean Carroll Defamation Trial &#39;Is One Of The Worst Days&#39; In His Life: &#39;Donald Is Finally Facing The Consequences&#39;</a>
This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" style="box-sizing:inherit; color:rgba(var(--sk_highlight,18,100,163),1); text-decoration:underline" target="_blank">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Photo: Shutterstock

Politics

Donald Trump Says He's Not Concerned About His Legal Challenges: 'In A Way, I Don't Care ... Life Is Life'

Former President Donald Trump has gained considerable support among Catholic<a href="https://www.benzinga.com/news/24/03/37937751/trump-vs-biden-one-candidate-gains-ground-in-swing-states-shakes-up-election-race"> voters in the U.S., outpacing President Joe Biden.</a>
What Happened: A Pew Research <a href="https://www.pewresearch.org/short-reads/2024/04/30/voters-views-of-trump-and-biden-differ-sharply-by-religion/">poll </a>reveals that 55% of Catholics now favor Trump over Biden in a potential face-off.
This is a marked shift from the 2020 election, where Trump only held a slim lead of 50% to 49%.
The poll also shows that Biden&#39;s Catholic support has dwindled to 43%. This 12% swing in favor of Trump signals a significant shift in Catholic voter sentiment.
Despite identifying as a practicing Catholic, Biden&#39;s positions on issues such as pro-choice deregulation and gender ideology affirmation have faced criticism from Catholic leaders, according <a href="https://www.foxnews.com/politics/catholics-support-swings-trump-biden-significant-margin-poll">to</a> Fox News.&nbsp;
Cardinal Wilton Gregory of Washington, D.C., previously labeled Biden a &quot;cafeteria Catholic&quot; for his selective adherence to the faith.
Interestingly, Biden still holds a slight lead among Hispanic Catholics, with a narrow margin of 49%-47%.&nbsp;This is a significant shift to the right for this demographic, as a similar 2020 poll showed Hispanic Catholics favoring Biden over Trump with a 67%-26% split.
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>
The poll also found that approximately 60% of Protestants support Trump, while about 38% favor Biden.
Atheists, agnostics&nbsp;and the religiously&nbsp;unaffiliated back Biden, with approximately 69% supporting the Democratic incumbent and only 28% supporting Trump.
Why It Matters: This shift in Catholic voter sentiment comes as a surprise, given the <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">earlier polls</a> in May 2024 suggested a potential defeat for Trump against Biden.
However, <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">April&#39;s polls</a> showed a thin lead for Trump. By the end of April, Trump had <a href="http://www.benzinga.com/news/24/04/38476026/trump-vs-biden-one-candidate-hold-slim-lead-over-other-in-latest-poll">outpaced Biden</a> by a slim margin of two points, suggesting a tightening race.
This recent surge in Catholic support for Trump could impact the upcoming elections.
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" style="box-sizing:inherit; color:rgba(var(--sk_highlight,18,100,163),1); text-decoration:underline" target="_blank">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Photo: Shutterstock

Trump Vs. Biden: One Candidate Gains Significant Ground Among This Demographic In Tightly Contested Race

In a dramatic finish, Mystik Dan, under the guidance of jockey Brian Hernandez Jr., secured the victory in the 150th Kentucky Derby on Saturday.
What Happened: The race, which took place at Churchill Downs in Louisville, Kentucky, saw Mystik Dan narrowly triumph over Sierra Leone and Forever Young in one of the Derby&#39;s tightest finishes ever.&nbsp;
The Associated Press reported<a href="https://apnews.com/article/kentucky-derby-2024-fierceness-sierra-leone-7a75a2184aa4433bafd1397340b61d99">&nbsp;</a>that this is the 10th time in the Derby&#39;s history that the race has been decided by a nose, the smallest margin in horse racing.&nbsp;
Mystik Dan, an 18-1 shot, edged out Sierra Leone by a nose, with Forever Young another nose back in third. Sierra Leone, the race&#39;s most expensive horse, was valued at $2.3 million.
The result was so close that officials took several minutes to confirm Mystik Dan&#39;s win.
&quot;The longest few minutes of my life,&quot; is how Brian Hernandez Jr., Mystik Dan&#39;s jockey, described the wait for the result.
The winner claimed the largest share of the $5 million purse, amounting to $3.1 million.&nbsp;The race drew a crowd of 156,710 at Churchill Downs, the largest since 2018.
Also Read:&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/23/10/35336333/exclusive-blockchain-p2e-virtual-horse-racing-game-photo-finish-announces-new-funding-meet" target="_blank">Virtual Horse Racing Game Photo Finish Announces New Funding &ndash; Meet The Investors And Next Steps</a>
&nbsp;
This victory marks a significant milestone for Hernandez and trainer Kenny McPeek, who also achieved success in the Kentucky Oaks for fillies on Friday with Thorpedo Anna.
Fierceness, a 3-1 favorite, finished in 15th place.&nbsp;
Why It Matters: The Kentucky Derby has a history of surprising outcomes. NBC Connecticut <a href="http://www.nbcconnecticut.com/news/sports/triple-crown/these-are-the-biggest-upset-wins-in-kentucky-derby-history/3024216/">reported </a>Rich Strike&#39;s victory in 2022, the second-biggest upset in derby history.&nbsp;
Strike overcame 80-1 odds to beat the field at Churchill Downs.
The race also has a notorious jinx associated with the No. 17 post position, which has never produced a winner in 149 previous derbies.
Moreover, the derby has faced controversies in recent years. In 2022, trainer Bob Baffert <a href="http://www.benzinga.com/news/22/03/25919271/bob-baffert-sues-churchill-downs-over-2-year-ban-following-derby-disqualification-report">sued Churchill Downs over a two-year ban</a> following the disqualification of his horse, Medina Spirit, for failing a drug test after winning the 2021 derby.
The 2023 derby also saw the death of several horses at Churchill Downs, <a href="http://www.benzinga.com/news/23/05/32256368/mage-wins-kentucky-derby-following-deaths-of-several-horses-at-churchill-downs">casting a shadow over Mage&#39;s victory.</a>
Now Read:&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38566078/exclusive-kentucky-derby-fans-can-score-100k-prize-with-web3-powered-superfecta-scratch-of" target="_blank">EXCLUSIVE&nbsp;</a><a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38566078/exclusive-kentucky-derby-fans-can-score-100k-prize-with-web3-powered-superfecta-scratch-of" target="_blank">&mdash;&nbsp;Kentucky Derby Fans Can Score $100K Prize With Web3-Powered SuperFecta Scratch-Off</a>
This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" style="box-sizing:inherit; color:rgba(var(--sk_highlight,18,100,163),1); text-decoration:underline" target="_blank">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Photo: Shutterstock

Sports

Mystik Dan Triumphs At Kentucky Derby, Marking Third Consecutive Year Horse With 15-1 Odds Or Worse Wins Race

Sam Altman, the CEO of OpenAI, recently&nbsp;shared his vision for the future of artificial intelligence (AI), describing the ultimate application for AI as&nbsp;a &quot;super-competent colleague&quot; <a href="https://www.benzinga.com/news/24/03/37766544/elon-musk-is-feuding-with-sam-altman-in-a-major-lawsuit-over-openai-and-one-appears-to-already-have">capable of independently managing complex tasks.</a>
What Happened: In an <a href="https://www.technologyreview.com/2024/05/01/1091979/sam-altman-says-helpful-agents-are-poised-to-become-ais-killer-function/">interview </a>with the MIT Technology Review published on May 1, Altman shared his desire for AI to evolve beyond its current capabilities. He envisions AI as more than just a chatbot but as a tool that can help people accomplish real-world tasks.
&quot;What you really want is a super-competent colleague that knows absolutely everything about my whole life, every email, every conversation I&#39;ve ever had, but doesn&#39;t feel like an extension,&quot; Altman said.&nbsp;
Despite OpenAI&#39;s ChatGPT&#39;s usefulness in accelerating workflows, developing code&nbsp;and writing emails, Altman referred to it as &quot;incredibly dumb&quot; compared to what is coming out next.&nbsp;&nbsp;
OpenAI&#39;s upcoming language model, GPT-5, could be a step toward Altman&#39;s vision. Sources who have seen GPT-5 have described it as &quot;materially better&quot; than existing models,&nbsp;<a href="https://www.businessinsider.com/sam-altman-openai-chatgpt-super-competent-colleague-2024-5">reported</a>&nbsp;Business Insider.
Also Read:&nbsp;<a href="https://www.benzinga.com/news/24/01/36623077/sam-altman-reveals-his-go-to-app-and-surprisingly-its-not-chatgpt" target="_blank">Sam Altman Reveals His Go-To App &mdash; And, Surprisingly, It&#39;s Not ChatGPT</a>
OpenAI is also reportedly developing a service where users can call an AI agent to perform tasks autonomously. However, Altman has remained tight-lipped about when these advancements will be available.
Why It Matters: Altman, who has an estimated net worth of $2 billion, is a prominent figure in the AI sector.
However, much of his wealth is not rooted in AI but comes from his investments in venture capital funds and startups, <a href="http://www.benzinga.com/news/24/03/37440684/openais-sam-altman-has-an-estimated-2-billion-net-worth-and-much-of-it-doesnt-come-from-ai">including a significant share in Reddit.</a>
In April 2023, Altman responded to a letter from tech leaders, including Elon Musk, calling for a pause on AI research. He agreed with parts of the letter but noted that it needed to include technical nuances that specifically address <a href="http://www.benzinga.com/news/23/04/31820475/openai-ceo-sam-altman-responds-to-letter-from-elon-musk-and-others-calling-for-pause-on-ai-research">which areas of AI research need to be paused.</a>
Altman&#39;s vision for AI as a &quot;super-competent colleague&quot; and his response to the call for a pause on AI research highlights his commitment to advancing AI technology while addressing safety and ethical concerns.
Now Read:&nbsp;<a href="https://www.benzinga.com/news/23/04/32101720/elon-musk-cut-off-openais-access-to-twitters-data-report-reveals-heres-why" target="_blank">Elon Musk Cut Off OpenAI&#39;s Access To Twitter&#39;s Data, Report Reveals. Here&#39;s Why.</a>
This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" style="box-sizing:inherit; color:rgba(var(--sk_highlight,18,100,163),1); text-decoration:underline" target="_blank">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Photo: Shutterstock

OpenAI CEO Sam Altman Shares What Killer App For AI Would Look Like, Says ChatGPT Is 'Incredibly Dumb' Compared To What's Coming Next

In the wake of dismal U.S. economic data, crypto analyst Micha&euml;l van de Poppe forecasted a substantial rally in the altcoin markets.
What Happened: On Friday, van de Poppe communicated his optimistic stance on cryptocurrencies to his followers on the social media platform X.
<blockquote class="twitter-tweet">Terrible economic data -&gt; <a href="https://twitter.com/search?q=%24DXY&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$DXY</a> down, additionally the case for QE and rate cuts will increase and therefore risk-on assets rally.<a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> back to $61.6K.
FOMC was the low for the markets and altcoin bull market has started. <a href="https://t.co/uVZxaYUwlM">pic.twitter.com/uVZxaYUwlM</a>
&mdash; Micha&euml;l van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1786395336040239278?ref_src=twsrc%5Etfw">May 3, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>This comes in the wake of the U.S. labor market falling short of estimates in April, with unemployment climbing to 3.9% and average hourly earnings growing less than anticipated. Van de Poppe believes&nbsp;that these economic indicators will compel the Federal Reserve to activate the money printers to bolster the job market, leading to a rally in risk-on assets.
Also Read:&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38238296/amid-dogecoin-crash-374-million-doge-moved-from-robinhood-to-unknown-wallet" target="_blank">Amid Dogecoin Crash, 374 Million DOGE Moved From Robinhood To Unknown Wallet</a>
&quot;Terrible economic data -&gt; DXY (US dollar index) down. Additionally, the case for QE (quantitative easing) and rate cuts will increase, and therefore risk-on assets rally,&quot; he said.&nbsp;
The analyst also foresees a consolidation period for the altcoin market before it rallies to record new all-time highs.
He predicted&nbsp;the total altcoin market capitalization to stabilize in the $880-$920 billion range before a run toward an&nbsp;all-time high.
Van de Poppe also expects the resurgence of retail traders in the crypto markets once altcoins register significant gains.
&quot;Retail isn&rsquo;t even in the markets, while Bitcoin is around the all-time highs. When will they come back? It will probably be after this summer when altcoins start to lift off,&quot; he said.
Why It Matters: The recent downturn in the altcoin market has been attributed to<a href="http://www.benzinga.com/markets/cryptocurrency/24/04/38240233/crypto-analyst-unveils-reasons-behind-latest-altcoin-crash-forecasts-rebound-amid-turmoil">&nbsp;supply and&nbsp;demand dynamics and a loss of momentum</a>, as reported by&nbsp;pseudonymous crypto strategist Pentoshi.
The frequent launch of new altcoins diluted demand, necessitating around $200 million a day in new money inflows to maintain current prices.
Furthermore, cryptocurrency strategist Altcoin Sherpa recently predicted a 267% surge in the value of Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)&nbsp;<a href="http://www.benzinga.com/markets/cryptocurrency/24/04/38478483/crypto-analyst-predicts-this-altcoin-will-explode-260-in-2024-and-its-not-dogecoin-or-shib">by the end of the year</a>. He suggested that buying shares of Solana at current levels could yield substantial future gains. These forecasts align with van de Poppe&#39;s predictions, indicating a potential boom in the altcoin market.
Now Read:&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38238919/crypto-markets-tumble-following-irans-drone-attack-against-israel-investor-warns-of-contin" target="_blank">Crypto Markets Tumble Following Iran&#39;s Drone Attack Against Israel, Investor Warns Of Continued Selloff</a>
This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" style="box-sizing:inherit; color:rgba(var(--sk_highlight,18,100,163),1); text-decoration:underline" target="_blank">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Photo: Shutterstock

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

Cryptocurrency

$SOL

Crypto Analyst Foresees Altcoin Boom Amid Economic Downturn: 'Altcoin Bull Market Has Started'

Cathie Wood-run Ark Invest on Friday picked up shares of a <a href="https://www.benzinga.com/money/best-biotech-stocks">biopharma company </a>after it revealed significant progress with it weight-loss drug candidate.
What Happened: Ark, through its ARK Genomic Revolution ETF (CBOE: ARKG), bought 11,360 shares of Amgen, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMGN#NASDAQ">AMGN</a>), which rallied nearly 12% on Friday. The purchase would have been worth $3.54 million.
Following Friday&#8217;s purchase, Amgen&#8217;s weighting in ARKG stood at 1.06%, attributed to the 51,712 shares held by the exchange-traded fund.
See Also: <a href="https://www.benzinga.com/money/best-etfs">Best ETFs To Buy Right Now</a>
Why It&#8217;s Important: Amgen reported a double beat Thursday after the market close and offered an update on its obesity drug pipeline. While pulling the plug on an early-stage oral obesity drug, codenamed &#8220;AMG 786,&#8221; the company said it was <a href="https://www.benzinga.com/general/biotech/24/05/38607066/amgen-stock-adds-good-weight-after-ceos-update-on-experimental-drug-rivaling-ozempic-nixing-oral-">&#8220;differentially investing&#8221; in MariTide </a>and a number of preclinical assets.
MariTide, formerly AMG 133, is an injectable form of a drug targeting two gut hormones — gastric inhibitory polypeptide receptor, or GIP, and glucagon-like peptide 1, or GLP-1. It is currently being evaluated in a Phase 2 obesity trial. 
&#8220;We're seeing a differentiated profile of MariTide and are confident that it will address important unmet medical needs, obesity, obesity-related conditions, and diabetes,&#8221; said Chief Scientific Officer Jay Bradner.
The top-line 52-week data from the 11-arm Phase 2 study is on track for a readout in late 2024, the company said.
The weight-loss drug market is estimated at a staggering $100 billion, with Novo Nordisk and Eli Lilly currently dominating the segment.
ARKG closed Friday&#8217;s session up 3.51% at $25.04, according to <a href="https://benzinga.grsm.io/lxquj26b2sag">Benzinga Pro data.</a>
Read Next: <a href="https://www.benzinga.com/markets/equities/24/04/38511785/cathie-woods-ark-goes-chip-stock-shopping-ahead-of-amd-earnings-adds-more-of-warren-buffett-back">Cathie Wood&#8217;s Ark Goes Chip-Stock Shopping Ahead Of AMD Earnings, Adds More Of Warren Buffett-Backed Chinese EV Play</a>
Photo: Shutterstock

Biotech

Long Ideas

Specialty ETFs

ETFs

AMGN

ARKG

Cathie Wood's Ark Invest Snaps Up $3.54M Worth Of Shares In This Biopharma Company Following Positive Obesity Pipeline Update

gm,
I&#8217;m Ivan and welcome to&nbsp;my weekly column&nbsp;Mad Crypto Alpha.
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="497" height="498" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/05103854/image-35.png" alt="" class="wp-image-322880" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/05103854/image-35.png 497w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/05103854/image-35-300x300.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/05103854/image-35-150x150.png 150w" sizes="(max-width: 497px) 100vw, 497px" /></figure>
In this&nbsp;week&#8217;s issue:
<ul>
<li>The real reason you may be getting tired of crypto</li>
<li>Why you should not give up on crypto just yet</li>
<li>How the pros deal with the crypto rollercoaster</li>
</ul>
<h2 class="wp-block-heading">The Real Reason You May Be Getting Tired Of Crypto</h2>
You don&#8217;t need to tell me, I can see how you feel.
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="640" height="474" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/05112011/image-36.png" alt="" class="wp-image-322884" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/05112011/image-36.png 640w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/05112011/image-36-300x222.png 300w" sizes="(max-width: 640px) 100vw, 640px" /></figure>
A lot fewer people want to read <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38479551/is-the-memecoin-supercycle-over-mad-crypto-alpha-with-ivan">Memecoin Supercycle Part 2</a> compared to the <a href="https://www.benzinga.com/markets/cryptocurrency/24/03/37445799/welcome-to-the-memecoin-supercycle-mad-crypto-money-with-ivan">first Memecoin Supercycle</a> story. Even Tesla announcing Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38630402/teslas-dogecoin-adoption-sends-crypto-market-into-frenzy-meme-coin-surges-by-over-21">adoption</a> doesn&#8217;t get you excited anymore.
Many who boarded the rollercoaster are getting tired of all the loops and are getting off again. I get it. Look what happened in the last month alone:
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Cryptotwitter rollercoaster cats &amp; dogs are the future &#x27a1;&#xFE0F; market has peaked &#x27a1;&#xFE0F; war!: it is over! &#x27a1;&#xFE0F; gcr saving the day &#x27a1;&#xFE0F; it is over again! &#x27a1;&#xFE0F; hong kong etfs will save the day &#x27a1;&#xFE0F; gcr was wrong &#x27a1;&#xFE0F; 40k coming &#x27a1;&#xFE0F;gbtc net inflows, hoera &#x27a1;&#xFE0F; we are so back &#x27a1;&#xFE0F; memes are the future… <a href="https://t.co/VE1U9HvlNa">pic.twitter.com/VE1U9HvlNa</a>
&mdash; Tim (@Tim_4444) <a href="https://twitter.com/Tim_4444/status/1787017609981931690?ref_src=twsrc%5Etfw">May 5, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
The crypto markets are as reliable as <a href="https://www.benzinga.com/personal-finance/24/04/38488203/survey-finds-that-33-of-gen-z-adults-still-receive-an-allowance-from-their-parents-why-is-that">Gen Z&#8217;s spending habits</a> — living on the edge just to feel something.
The real reason you&#8217;re getting tired of crypto is because even though nothing serious has happened, the notification tsunami feels like you&#8217;ve missed out on the world collapsing and miraculously bouncing back three times over in the last weeks.
The crypto markets take you on an emotional rollercoaster ride that makes many (figuratively) puke and never return.
So maybe you want to check out of crypto entirely at this point. 
But that would be a mistake. And here&#8217;s why.
Read Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38630402/teslas-dogecoin-adoption-sends-crypto-market-into-frenzy-meme-coin-surges-by-over-21">Tesla&#8217;s Dogecoin Adoption Sends Crypto Market Into Frenzy, Meme Coin Surges By Over 21%</a>
<h2 class="wp-block-heading">Why You Should Not Give Up On Crypto Just Yet</h2>
There was a big discussion on Crypto X over the past weeks in regards to where we are on this famous market cycle chart:
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">It&#39;s hard to ignore this <a href="https://t.co/RtA8RxUKmS">pic.twitter.com/RtA8RxUKmS</a>
&mdash; Nakamotolisk.eth (@Nakamotolisk) <a href="https://twitter.com/Nakamotolisk/status/1783202908584226944?ref_src=twsrc%5Etfw">April 24, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Are we already in the complacency or anxiety stage? Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) is already up over 3X from its bottom. Meme coins like dogwifhat (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">WIF</a>) have gone from zero to billions. Scammy influencers have absconded with <a href="https://www.benzinga.com/markets/cryptocurrency/24/03/37828593/150m-in-presale-meme-coins-sent-to-random-strangers-solana-addresses-investigation-reveals">$150 million</a> in presales they have never launched.
But, as always, it depends on your perspective. You can interpret the same graph in a different way:
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">&quot;A recovery is possible&quot; <a href="https://t.co/MlI1r3jllD">https://t.co/MlI1r3jllD</a> <a href="https://t.co/WCQ25hXJbv">pic.twitter.com/WCQ25hXJbv</a>
&mdash; pixel (@spacepixel) <a href="https://twitter.com/spacepixel/status/1785812841913868554?ref_src=twsrc%5Etfw">May 1, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
For what it&#8217;s worth, crypto influencer Miles Deutscher agrees with the latter reading. He <a href="https://www.benzinga.com/markets/cryptocurrency/24/03/37828593/150m-in-presale-meme-coins-sent-to-random-strangers-solana-addresses-investigation-reveals">sees</a> the absence of massive retail interest, the lackluster returns of most altcoins and the short cycle length as reasons why this rally is starting, not ending.
I tend to agree with that. Here&#8217;s what I wrote in last week&#8217;s column:
&#8220;Long-term, I see the combination of (geo)political instability, fragmentation, loss of trust, digitalization and demographic change pushing Bitcoin up and to the right. And meme coins as white-collar online sports betting alternative with it.&#8221;
None of these trends will change any time soon and a bit of <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38528542/bitcoin-dogecoin-shiba-inu-pumped-after-the-last-fomc-meeting-will-history-repeat-on-wedne">market panic before FOMC meetings</a> has become the norm in recent months.
The takeaway: The repeating loops on the crypto rollercoaster ride may be making you sick, but you should see this as pain is weakness leaving your body.
To help you survive this madness, here are some golden tips from experienced crypto rollercoaster pilots.
Read Also: &#8216;<a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38631462/dogecoin-killer-shiba-inu-burn-rate-spikes-800-crypto-market-rallies-as-sentiment-soars-an">Dogecoin Killer&#8217; Shiba Inu Burn Rate Spikes 800%, Crypto Market Rallies As Sentiment Soars And More: This Week In Cryptocurrency</a>
<h2 class="wp-block-heading">How The Pros Deal With The Crypto Rollercoaster</h2>
If you&#8217;ve ever traded cryptocurrencies, you know the feeling: One green candle can make a crypto asset suddenly a whole lot more investable.
<figure class="wp-block-image size-full is-resized"><img loading="lazy" decoding="async" width="954" height="746" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/05120243/image-37.png" alt="" class="wp-image-322899" style="width:338px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/05120243/image-37.png 954w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/05120243/image-37-300x235.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/05120243/image-37-768x601.png 768w" sizes="(max-width: 954px) 100vw, 954px" /></figure>
The same is true the other way round. A fat daily red candle, and it&#8217;s suddenly all over and crypto has been a scam all along.
Defeating this FOMO is what the best traders and investors master. As veteran trader Pentoshi puts it, &#8220;Markets always humble the arrogant. Always. Be humble or be humbled.&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">A few things that I think make the best traders. The ability to defeat their own greed. Once I finally realized this I gave back way less and had much fewer round trips. I think greedy people in the end on a large enough time scale lose everything. Their gains are temporary…
&mdash; Pentoshi &#x1f427; euroPeng &#x1f1ea;&#x1f1fa; (@Pentosh1) <a href="https://twitter.com/Pentosh1/status/1786784858456359222?ref_src=twsrc%5Etfw">May 4, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Cold Blooded Shiller also chipped in with <a href="https://twitter.com/ColdBloodShill/status/1786219253747658763">reasons</a> why you should not feel FOMO:
<ul>
<li>Prices are still cheap if you&#8217;re building slowly and focused on the long run.</li>
<li>Even some strong coins like Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>) are still off their all-time highs.</li>
<li>Memes are still looking strong, and your targets should be all-time highs across most assets.</li>
</ul>
He recommends to take it slow and not let your emotions destroy weeks or months of careful building. 
As someone who&#8217;s made that exact mistake, I couldn&#8217;t agree more.
<h2 class="wp-block-heading">Wrapping It Up</h2>
If you liked this column, give me a follow&nbsp;<a href="https://twitter.com/IvanCryptoSlav" target="_blank" rel="noreferrer noopener">on Twitter</a>&nbsp;and sign up to our&nbsp;<a href="https://www.benzinga.com/free-newsletters" target="_blank" rel="noreferrer noopener">"Future of Finance" newsletter</a>.
Shoot me a DM or Benzinga a mail if you have topic requests, and I'll see you back for next week's&nbsp;Mad Crypto Alpha.
gn
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38630548/exclusive-trump-themed-maga-memecoin-plans-to-rival-dogecoin-and-shiba-inu-with-four-more-">EXCLUSIVE: Trump-Themed MAGA Memecoin Plans To Rival Dogecoin And Shiba Inu With &#8216;Four More Years Of Catalysts&#8217;</a>
Image created using artificial intelligence with Midjourney.

$BTC

$DOGE

$WIF

If You're Getting Tired Of Crypto, Here's Why: Mad Crypto Alpha With Ivan

With the start of a new week comes the excitement surrounding a new set of companies looking to make an impact through their public offerings. <a href="https://pro.benzinga.com/?utm_source=insights">According to Benzinga Pro</a>, these enticing companies are scheduled to trade publicly this week.
<ul>
<li>Silvaco Group, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SVCO#NASDAQ">SVCO</a>) becomes publicly listed starting on May 9,&nbsp; 2024. The company has a price range set between $17.00 and $19.00 with a 180-day lockup period. Silvaco Group, Inc will be offering 6,000,000&nbsp;shares at a per-share value of $18.00.</li>
<li>Proficient Auto Logistics, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PAL#NASDAQ">PAL</a>) will be trading publicly starting on May 9, 2024. The company&#39;s price band is set between $14.00 and $16.00 with an insider lock-up period of 180 days. Proficient Auto Logistics, Inc will be offering 14,333,000&nbsp;shares at a per-share value of $15.00.</li>
<li>Nano Nuclear Energy Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NNE#NASDAQ">NNE</a>) will be trading publicly starting on May 7, 2024. The company&#39;s price band is set between $4.00 and $6.00 with an insider lock-up period of 180 days. Nano Nuclear Energy Inc will be offering 3,000,000&nbsp;shares at a per-share value of $5.00.</li>
</ul>
<h3>Understanding IPOs</h3>
An initial public offering, or IPO, is the transitional process of a private company deciding to go public and offer shares to investors on an exchange. Typically, IPOs offer companies the ability to build capital. Before a company becomes publicly listed, it must meet SEC requirements and work with investment banks through audits to determine pricing, offering date, and other important data points before the offering.
Companies and investment banks will work to establish a price range that the stock is expected to sell between. This is known as an offering range. Once a company goes public, its stock comes with an opening price. The insider lock-up period is usually a set number of days after an IPO where company insiders, or employees with a 10% or higher stake in their company, cannot sell shares.
This article was generated by Benzinga&#39;s automated content engine and reviewed by an editor.

IPOs

SVCO

A Look At Upcoming IPOs For The Week

This article was originally published on <a href="https://2fast4buds.com/news/weed-in-brazil-cannabis-legal-status-guide">2Fast4Buds</a> and appears here with permission.
Keeping a low profile and enjoying your hobby in secret is the best advice we can give cannabis lovers visiting Brazil.
Despite the fact that Brazil was introduced to cannabis long ago, in colonial times, and that weed is widely consumed in the country, current cannabis laws in Brazil remain mostly prohibitive, and only a few attempts at reform have been made so far. Read on for a comprehensive guide as to the legal situation with cannabis in Brazil.
<h3>Use&nbsp;And&nbsp;Personal&nbsp;Possesion&nbsp;Decriminalized</h3>
In 2006, Brazil adopted important changes to its anti-drug laws by decriminalizing personal drug use, as well as possession, buying, transporting of small amounts of drugs if they were meant for personal consumption. In strict legal terms, the country de-penalized these actions, as now they aren&rsquo;t punishable by either jail time or fine. Instead, the police would warn the user of the harmful effects of drugs, request that the user attend an educational program or perform some community service.
We cannot say how much cannabis the court will consider a small, personal amount. These things are at the discretion of the judge who looks at the circumstances of the offense and the background of the offender. All this differs from case to case.
If the user is required to perform some community service, it usually happens at a facility &ndash; either medical or educational &ndash; that has something to do with the prevention of drug use or the recovery of addicts. The period of time for community service cannot be greater than 5 months for first-time offenders or 10 months for repeat offenders. If the offender refuses to comply, the judge can demand a fine.
In case the drug user needs treatment (which probably isn&rsquo;t often the case with cannabis), it&rsquo;s provided free of charge, but mostly in an outpatient manner. As for the fines mentioned earlier, they can be between 40 and 100 day fines. A day fine is calculated based on minimum monthly wages divided by 30.
<h3>Driving Under&nbsp;The&nbsp;Influence</h3>
In Brazil, driving while intoxicated by marijuana is considered a safety risk and a source of potential harm to others. The punishment would be a jail sentence from 6 months to 3 years. The vehicle in question will be taken into custody, and the driver&rsquo;s license will be revoked. The punishment is much more severe for someone driving a public transportation vehicle &ndash; from 4 to 6 years in prison.
<h3>Large-Scale&nbsp;Drug&nbsp;Offenses</h3>
Things get much worse for cannabis enthusiasts when it comes to commercial quantities of the substance. If the court decides that you possess it with the intent to sell or in fact do sell it, produce, transport, etc, the fine of 500-1,500 day units will be the least of your worries, as you will also get sent to prison for 5-15 years depending on the circumstances. In the table below, we have compiled some of the drug offenses as treated by Brazil&rsquo;s Penal Code.
<table border="1">
<tbody>
<tr>
<th>Offense</th>
<th>Penalty</th>
</tr>
<tr>
<td>Import/Export</td>
<td rowspan="6">5-15 years in prison AND 500-1,500 day fines</td>
</tr>
<tr>
<td>Shipment/Delivery/Transporting</td>
</tr>
<tr>
<td>Production/Manufacturing</td>
</tr>
<tr>
<td>Acquiring/Buying</td>
</tr>
<tr>
<td>Selling/Offering for Sale/Supplying Free of Charge</td>
</tr>
<tr>
<td>Possession/Storing</td>
</tr>
<tr>
<td>Conspiracy to Commit Crimes Listed Above</td>
<td>3-10 years in prison AND 1,200-2,000 day fines</td>
</tr>
<tr>
<td>Financing Crimes Listed Above</td>
<td>8-20 years in prison AND 1,500-4,000 day fines</td>
</tr>
<tr>
<td>Inducing Drug Use in Others</td>
<td>1-3 years in prison AND 100-300 day fines</td>
</tr>
<tr>
<td>Sharing Drugs with Others</td>
<td>6 months - 1 year years in prison AND 700-1,500 day fines</td>
</tr>
</tbody>
</table>
If the court sees you just as a regular citizen with no criminal record and no ties to organized crime, the sentences in the table may be reduced by ⅙-⅔. On the other hand, the punishment for the same crimes can be increased by ⅙-⅔ if the crime crosses borders, the perpetrator is a public official, the crime is committed in or near schools, prisons, campuses, entertainment events, or on public transport, if there&#39;s violence involved, or the target of the crime are children.
The court would also reduce the sentence by ⅓-⅔ if the accused willingly cooperates to bring to justice accomplices or recover &ndash; either fully or partially &ndash; the money gained from the crime. And the thing to remember about fines is that they can be increased up to tenfold if the court decides that the standard amount is too small to deter the accused from repeating the offense.
<h2>Cannabis&nbsp;Cultivation In&nbsp;Brazil</h2>
Cannabis growing in Brazil remains illegal. However, if someone is caught growing a small, non-commercial number of plants, clearly intended for personal use, the same rules apply as for possession &ndash; meaning the plants will be confiscated and destroyed but no punishment administered. The police would issue the same warning, refer the grower to a drug-use diversion program, or request community service as with other small-time drug offenses.
Large-scale cannabis growing in Brazil is treated the same way as manufacturing of drugs, and the same punishments apply &ndash; 5-15 years in prison AND 500-1,500 day fines. (You can see more details in the previous section.) Moreover, the illegal plantation must be immediately destroyed as soon as the police collect enough samples for testing and as evidence. For outdoor plantations, the land used for cannabis cultivation will be expropriated.
<h3>No&nbsp;Exemption&nbsp;Made&nbsp;For&nbsp;Hemp</h3>
Brazil is one of those rare countries that still don&rsquo;t allow the cultivation of non-psychoactive cannabis, or hemp, for industrial uses. As far as the country&rsquo;s laws are concerned, there&rsquo;s no distinction between different varieties of the plant, and all are equally prohibited. There was a proposal included into a medical marijuana bill (of which more below) that would allow cannabis cultivation for medical purposes, but this proposal was rejected.
The country still uses hemp-based products and allows some cannabis-based pharmaceuticals, but all of them must be imported in their finished form, and it is prohibited to import raw-plant material, let alone produce it domestically.
<h3>CANNABIS SEEDS IN BRAZIL</h3>
The only form of buying cannabis seeds in Brazil so far is to order them online. You can use any of the large international seed stores that ship globally, such as&nbsp;Fast Buds, or find a Brazilian shop that has Portuguese as its primary language and caters to local growers. Local online seed shops sell cannabis seeds as souvenirs, issuing a warning that germinating them is against the law, but at the same time, they aren&rsquo;t afraid to give germination instructions or provide a germination guarantee.
<h2>LIMITED MEDICAL MARIJUANA PROGRAM</h2>
Brazil is slowly starting to recognize the usefulness of cannabis for symptom management in various medical conditions. Since 2015, it has been allowing the use of some non-hemp-based pharmaceuticals (whose THC content is greater than 0.2%). In 2017, the country licensed the first medicine of this kind &ndash; Sativex, a high-THC sublingual spray for multiple sclerosis patients.
Initially, Sativex was only imported through a regulatory agency called Anvisa, but in 2019, the rules were relaxed to allow the sale of cannabinoid medicines through pharmacies. Now, in addition to the one pharmaceutical that is imported through state channels, patients have a right to import their cannabis-based medicine individually, provided its use was prescribed by their physician.
Local businesses can also obtain a license to manufacture their own pharmaceuticals from imported extracts, although a lot of red tape is involved in the process. Medical marijuana use is limited to terminally ill or patients with serious conditions for whom other treatment options have proved inefficient.
<h3>IS CBD LEGAL IN BRAZIL?</h3>
CBD products, meaning those that contain CBD as their primary agent and have no more than 0.2% THC, are sold in Brazil, both online and in pharmacies, but only to patients with a doctor&rsquo;s prescription. Basically, the same rules apply to CBD medicines as to medical marijuana in general, although it may be easier to obtain a physician&rsquo;s approval for a product that doesn&rsquo;t make you high. Currently, all CBD pharmaceuticals in Brazil are imported.
We have failed to find any online store that sells some zero-THC/pure-CBD products without prescription. We have seen claims that such CBD extracts are sold in health-and-wellness shops and similar establishments, but we couldn&rsquo;t confirm these claims.
<h2>IN CONCLUSION</h2>
While hardly the most progressive in the world, Brazil&rsquo;s cannabis policy is lenient enough to make cannabis enthusiasts feel quite safe in the present and have reasonably high hopes for the future. At the same time, one shouldn&rsquo;t forget that neither cannabis cultivation, nor the consumption of the substance itself are actually legal here, so we advise you to get yourself acquainted with the law before visiting the country. Bon voyage and stay safe!
This article is from an external unpaid contributor. It does not represent Benzinga&#39;s reporting and has not been edited for content or accuracy.

Cannabis

Government

Regulations

Legal

Weed In Brazil: A Guide To Cannabis' Legal Status In The South American Country

Berkshire Hathaway&#8217;s <a href="https://www.benzinga.com/news/24/05/38630719/warren-buffett-fears-the-ai-genie-thats-part-out-of-the-bottle-but-agrees-it-has-potential-to-do-goo">annual shareholder meeting on Saturday</a> started on a solemn note, with a tribute to Warren Buffett&#8217;s trusted lieutenant and friend Charlie Munger, who passed away late last year just short of his 100th birthday.
Brother From Another Mother: Signaling the start of the meeting, Buffett introduced himself and turned the attention of the audience to a photo of himself and Munger, stating that it was taken in Savannah, Georgia, early in 1982. 
&#8220;When Charlie and I first met &#8230; it was if twins who had been separated at birth were reunited,&#8221; the billionaire said.
There were a few important differences between the two legendary investors that people may have missed, he said.
&#8220;I was only interested in whether things worked, Charlie wanted to know how things worked,&#8221; Buffett said. 
Giving an example, the billionaire investor said he would turn on a switch and if the TV or light bulb went on, he could care less about what had caused it to do so. 
&#8220;Charlie, however, would want to understand every aspect of how the generator worked, how electricity traveled to his home, the merits of AC versus DC,&#8221; he said, while jokingly quipping that Munger understood electricity better than Thomas Edison ever did.
The Berkshire CEO also shared that Munger liked designing homes. When they first met in 1959, Munger was in the process of designing and constructing the house where he would reside for the rest of his life. Munger also expressed his desire to design a home for Buffett in Santa Barbara on a piece of property inherited by Berkshire, he mentioned.
Buffett said Munger&#8217;s &#8220;architectural thoughts&#8221; led to the Berkshire Hathaway of the present day. Munger first became a director of Berkshire in 1978. Buffett bought controlling interest in Berkshire through a small partnership in 1965, and Munger, at that time, did not have a penny invested in the company, he revealed. At that time, Munger told his friend that the purchase was plain dumb but also suggested what needed to be done.
Over time, the two worked together to achieve Munger&#8217;s vision, Buffett said.
 &#8220;Charlie in effect became the architect of today&#8217;s Berkshire,&#8221; the investment guru said. &#8220;The carpenters and the others, that&#8217;s me, are needed but the architect is the genius who provides the blueprint.&#8221;
&#8220;Berkshire has become a great company with a unique group of owners. The directors of Berkshire are the trusties of the structure Charlie designed. That lives beyond his lifetime and will live far beyond mine.&#8221;
See Also: <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>
Living In Buffett&#8217;s Mind: During the meeting, there was a moment when Buffett redirected a question to his heir apparent Greg Abel, whom he accidentally called &#8220;Charlie.&#8221; The billionaire then corrected himself and said, &#8220;I&#8217;m so used to &#8230; I actually checked myself a couple of times already but I&#8217;ll slip, I&#8217;ll slip again.&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Warren Buffett slipping up and accidentally calling Greg Abel "Charlie" may be one of the most charming and perfect honors I've seen of the recently passed Charlie Munger. You know Charlie is deep in Warren's heart. <a href="https://twitter.com/search?q=%24BRK&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BRK</a> <a href="https://t.co/gayNqPDdLD">pic.twitter.com/gayNqPDdLD</a>
&mdash; Compound248 &#x1f4b0; (@compound248) <a href="https://twitter.com/compound248/status/1786774727530336604?ref_src=twsrc%5Etfw">May 4, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
One More Day With Munger: &#8220;We always lived in a way where we were happy with what we were doing. <a href="https://www.benzinga.com/personal-finance/24/05/38619559/charlie-munger-and-a-friend-each-made-70-000-per-year-from-a-1-000-investment-60-years-ago-rakin">Charlie liked learning, he liked a wide variety of things.</a> He was much broader than I was,&#8221; Buffett said, in response to a young boy&#8217;s question as to what he would do if he had one more day with Munger.
While the two didn&#8217;t desire to be like each other, they did have a lot of fun doing a number of things, including playing golf and tennis together. More importantly, Buffett said they had as much fun or even more with things that failed. 
&#8220;Because then we really had to work and work our way out of them and and, in a sense, there&#8217;s more fun having somebody that&#8217;s your partner and digging your way out of a foxhole,&#8221; Buffett said.
He also said they did not doubt each other at any point.
&#8220;If I&#8217;d had another day with him, we&#8217;d probably do the same thing we were doing the earlier days but and we wouldn&#8217;t have wanted to know that we only had one day,&#8221; Buffett said. 
Read Next: <a href="https://www.benzinga.com/money/how-to-invest-in-startups">How To Invest In Startups</a>
Photo: Shutterstock

'Charlie And I': Warren Buffett Reminisces About Late Friend, Whom He Credits As 'Architect Of Today's Berkshire'

This article was originally published on <a href="https://cannabis.net/blog/sports/what-do-athletic-trainers-and-sports-medicine-doctors-think-about-cannabis-just-cbd-okay-with-t">Cannabis.net</a>&nbsp;and appears here with permission. 
According to a recent survey of 333 medical professionals in sports medicine, there is generally a positive attitude toward CBD and cannabis. The majority of respondents believe that marijuana should no longer be considered a prohibited substance by the World Anti-Doping Agency (WADA). The study, published this month, also reveals widespread support among sports medicine physicians for the legalization of marijuana, both for recreational and medical purposes.
However, the survey identifies diverse perspectives on cannabis within the field, with age, practice type, and gender significantly influencing these views. Women, older doctors, and individuals in rural settings were found to be less inclined to support the recreational use of marijuana, as well as more likely to oppose WADA&#39;s removal of cannabis from the list of prohibited substances and the NCAA permitting CBD use among collegiate athletes.
Conversely, men and younger physicians were less prone to view marijuana as having performance-enhancing properties. These findings underscore the nuanced and varied opinions within the sports medicine community regarding CBD, cannabis, and their regulatory status in sports.
<h3>CBD Removed, Marijuana&#39;s Status Unchanged</h3>
In 2018, the World Anti-Doping Agency (WADA) removed CBD from its list of prohibited substances, but marijuana continues to be banned in competition by WADA and numerous other professional and international sports organizations.
The recent study indicates that 72% of sports medicine physicians support WADA&#39;s decision regarding cannabidiol, with 59 percent advocating for the removal of cannabis itself from the list of prohibited substances. In September, an NCAA panel recommended eliminating marijuana from the banned substances list for college athletes.
A separate study, published this month, reveals that states that legalized marijuana experienced improved recruitment for college basketball but faced adverse outcomes for football teams.
Regarding the recommendation of CBD to patients, the new study found that pediatricians, rural doctors, and academic physicians were less inclined to suggest the use of the cannabinoid compared to their counterparts in the field. Despite this, the study concludes that many sports medicine providers are endorsing CBD and cannabis products, primarily for chronic musculoskeletal and neuropathic pain. Notably, the study claims to be the first to uncover that some providers, although in a minority, recommend these products for sport-related concussions and sports performance anxiety.
<h3>CBD Gains Favor, Influenced By Safety And Cultural Shifts</h3>
The evolving cultural shift towards CBD and cannabis in sports motivates continuous research and education for sports medicine providers. Addressing athletes&#39; inquiries about the safety, dosing, and potential effects of these substances remains a priority.
Among surveyed physician members of the American Medical Society for Sports Medicine, more recommended CBD (40.8%) compared to marijuana (24.8%). The study suggests that the preference for CBD may be influenced by its overall safety profile, lack of intoxicating effects, and its widespread incorporation into mainstream consumer products, making it seem a safer option compared to cannabis and THC-containing products.
Differences in doctors&#39; perspectives on the potential drawbacks of CBD versus THC in terms of physical performance were observed, with the authors attributing these distinctions more to marketing and cultural shifts than scientific evidence. A small percentage (9.9%) of respondents believed CBD is detrimental to performance, while a larger percentage (39%) held similar views about cannabis.
The study emphasizes the unknown aspects of the ergogenic versus ergolytic effects of CBD compared to cannabis and suggests that perceptual differences may be largely attributed to marketing and advertising. The ubiquitous addition of CBD to numerous consumer products is also acknowledged as a contributing factor to the evolving distinction.
It&#39;s important to note that the study&#39;s relatively small sample size (about 7% of the American Medical Society for Sports Medicine membership) and its single-point-in-time nature limit the ability to describe changing opinions.
While WADA has maintained its ban on marijuana after a review in 2022, an opinion piece from members of the association&rsquo;s Prohibited List Expert Advisory Group in August highlighted other cannabis reforms, such as raising the allowable THC levels in an athlete&#39;s urine to accommodate consumption outside of competitions. The group emphasized that athletes requiring medicinal cannabis should seek a therapeutic use exemption due to these higher thresholds.
<h3>Push For Change Following Athlete Suspension</h3>
Advocates strongly pressed for WADA to undergo reforms following the suspension of U.S. runner Sha&rsquo;Carri Richardson from participating in Olympic events due to a positive THC test in 2021.
In response to this suspension, the U.S. Anti-Doping Agency (USADA) declared that international marijuana rules &quot;must change.&quot; Both the White House and President Joe Biden indicated their support for new policies, with congressional lawmakers echoing this sentiment.
While USADA initially expressed sympathy for Richardson and suggested a potential reevaluation of marijuana prohibition, the organization later issued a statement explicitly calling for a policy change. The organization highlighted President Joe Biden&#39;s acknowledgment that while &quot;rules are rules,&quot; there may be a need for a reassessment of the regulations.
As more states have moved to legalize cannabis, various sports organizations have taken steps to implement reform. The National Basketball Association (NBA) and its players union recently signed a collective bargaining agreement that removes marijuana from the league&rsquo;s list of banned substances, allowing players to invest in and promote cannabis brands, with certain exceptions.
In Nevada, sports regulators voted to send a proposed regulatory amendment to the governor, aiming to formally protect athletes from penalties for using or possessing marijuana in compliance with state law.
UFC announced in 2021 that fighters would no longer be penalized for positive marijuana tests. The National Football League (NFL) revised its drug testing policy significantly in 2020 as part of a collective bargaining agreement. In June, the NFL and its players union jointly announced funding for independent research on the therapeutic benefits of CBD as an alternative pain treatment for players with concussions.
The New York Media Softball League (NYMSL), featuring teams from The Wall Street Journal, High Times, and BuzzFeed, revealed a sponsorship deal with a Kentucky-based CBD company in July. This collaboration was inspired by similar moves in Major League Baseball (MLB), where certain teams, like the Kansas City Royals and Chicago Cubs, partnered with CBD businesses. MLB itself announced a league-wide partnership with a popular CBD brand last year, with Charlotte&rsquo;s Web Holdings becoming the &quot;Official CBD of MLB.&quot;
Bottom Line
The evolving landscape of attitudes toward marijuana and CBD in sports medicine reflects a nuanced interplay of regulatory shifts, cultural influences, and diverse perspectives within the medical community. As the discourse unfolds, the push for reform gains momentum, spurred by both athlete experiences and changing societal norms, paving the way for potential transformations in sports medicine practices and regulations.
This article is from an external unpaid contributor. It does not represent Benzinga&#39;s reporting and has not been edited for content or accuracy.

Cannabis In Sports Medicine: Here's What Doctors Really Think

Hope Hicks, the former aide of Donald Trump, <a href="https://www.benzinga.com/general/politics/24/05/38626165/hope-hicks-testifies-on-trumps-ex-lawyer-michael-cohens-mr-fix-it-moniker-only-because-he-broke-">testified in the New York hush-money criminal case trial last week,</a> and, last Friday, former Department of Justice Attorney and law professor Andrew Weissmann delved into what has transpired so far in the case and the path forward.
Victory For Bragg: The week ended on a very high note for New York District Attorney Alvin Bragg&#8217;s office, Weissmann said. 
&#8220;I cannot stress enough how much of a big fat nail in the coffin Hope Hicks was to the Trump criminal defense,&#8221; he said. 
Hicks&#8217; statement, coming from a staunch Trump loyalist fully aware of the hush-money agreements, including those with Karen McDougal and adult film star Stormy Daniels, leaves no room for doubt, he added.
Weissmann,  who served as the assistant United States Attorney from 1991 to 2002, said Hicks was a &#8220;devastating&#8221; witness against Trump. He noted that Hicks made it clear that Trump knew of Michael Cohen&#8216;s payoff to Daniels. Her testimony also sinks Trump&#8217;s defense, as the ex-president went on record in a civil case admitting that he had reimbursed Cohen the $130,000, Weissmann added.
Hicks confirmed that Trump understood the purpose of the money was to silence Daniels, not for the purported legal fees for ongoing work by Cohen, Weissman stated.
&#8220;And Hicks&#8217; crying on the stand makes it that much clearer that she does not want to be implicating her former boss — the DA is making the case, as the J6C did, through Trump loyalists,&#8221; the legal expert said.
See Also:<a href="https://www.benzinga.com/news/24/05/38630905/did-donald-trump-deny-stormy-daniels-affair-to-shield-wife-and-firmelania-from-scandal-former-top-ai"> Did Donald Trump Deny Stormy Daniels Affair To Shield Wife Melania From Scandal? Former Top Aide Testifies In Hush-Money Trial.</a>
What Lies Ahead: Looking ahead, Bragg must prove &#8220;Trump made or caused making knowingly false business records with intent to further or conceal another crime, such as state campaign law,&#8221; Weissmann said.
So far, the defense has cited evidence of intent to conceal another crime, the DOJ veteran said. He added that, based on Hicks&#8217; testimony, it was clear that at the time Trump reimbursed Cohen, the former president was aware of the hush-money scheme.
&#8220;The knowledge of the false business records is next, which will come from Trump himself signing the repayment checks, the amounts, the timing, and the invoices falsely noting they are for current legal services versus Hicks&#8217; testimony that Trump knew of the hush money scheme at that time and Trump&#8217;s own prior admissions that he repaid Michael Cohen,&#8221; Weissmann said. 
&#8220;With that, the DA case will be done.&#8221;
&#8220;Thanks to District Attorney Alvin Bragg and his crackerjack team of experienced attorneys, we have witnessed a criminal case unfold like clockwork, building a case based on Trump-world insiders, corroborated by hundreds of tapes, emails, texts, phone records, documents, tweets and financial records,&#8221; Wesimann <a href="https://www.msnbc.com/opinion/msnbc-opinion/donald-trump-trial-hope-hicks-testimony-rcna150706">said</a> in an article he contributed to MSNBC on Saturday.
Read Next:<a href="https://www.benzinga.com/best-penny-stocks"> Best Penny Stocks</a>
Photo: Shutterstock

Media

Ex-DOJ Attorney Says Former Trump Aide's Testimony Sinks Ex-President's Criminal Defense: 'Big Fat Nail In The Coffin'

A 51-year-old Spanish citizen was arrested on May 1 upon arrival at the United Kingdom&#8217;s Manchester Airport from Los Angeles with nearly 350 pounds of marijuana stashed into eight separate suitcases that were checked in under the names of his three children, who were traveling with him.
Britain&#8217;s National Crime Agency (NCA) said the cannabis would have had a street value of at least $1.3 million if sold in the U.K. &nbsp;
&#8220;This is one of the biggest cannabis seizures we have seen at Manchester Airport in recent years," said NCA senior investigating officer Charles Lee in a <a href="https://www.nationalcrimeagency.gov.uk/news/spanish-national-charged-after-huge-manchester-airport-cannabis-seizure">press release</a>. "The drugs would have generated significant profits. NCA officers are determined to work with our partners at Border Force to stop drug smuggling and disrupt the criminal networks behind it."
Following the Wednesday arrest by Britain&#8217;s Border Force and interview by NCA investigators, Fernando Jacobo Mayans Fuster from Zaragoza, Spain was charged with importing class B drugs. No news was released about the fate or whereabouts of his three children.
<h2 class="wp-block-heading">Weed Smuggling From LAX To UK: Underworld Gangs Involved, Say Authorities</h2>
Throughout 2023, a <a href="https://www.benzinga.com/markets/cannabis/23/03/31332943/why-are-so-many-americans-getting-caught-smuggling-weed-from-lax-to-uk-brits-link-surge-to-drug-">rash of weed smuggling</a> was going on between LAX and Heathrow airports, which had British authorities baffled.
Over the course of one week in January alone,&nbsp;<a href="https://www.benzinga.com/markets/cannabis/23/01/30454502/cannabis-couriers-busted-in-heathrow-from-9-lax-flights-connected-brits-wonder-how-could-they-no" target="_blank" rel="noreferrer noopener">nine Americans were arrested with nearly 750 pounds of cannabis</a>&nbsp;flying from LAX to Heathrow, according to&nbsp;the NCA, Britain's equivalent of the FBI.
NCA officials admitted finding the sudden rise of US-based weed smuggling to be odd, though&nbsp;high-quality California&nbsp;cannabis can sell&nbsp;for 10&nbsp;times more in the United Kingdom where adult use is illegal and medical marijuana is barely legal. The NCA has indicated that smugglers from the U.S. are likely selling their product at a premium to underworld gangs in the U.K.&nbsp;
"We are working to understand how these seizures are connected, however, to get this many off the same route in such a short period of time is clearly very unusual," <a href="https://www.benzinga.com/markets/cannabis/23/03/31332943/why-are-so-many-americans-getting-caught-smuggling-weed-from-lax-to-uk-brits-link-surge-to-drug-">said</a> the NCA's senior investigating officer Darren Barr at the time.
Photo: 278 packages of cannabis in eight separate bags at Manchester Airport, courtesy of NCA

Marijuana Bust: Spaniard Smuggles 350 Pounds Of Weed In His 3 Children's Luggage From Los Angeles To The UK

The U.S. military is facing an escalating threat from China&#39;s rapidly growing Rocket&nbsp;Force, which poses a significant risk to American bases and warships in the Pacific. The&nbsp;development has reportedly raised alarm <a href="https://www.benzinga.com/markets/asia/24/03/37905020/yellens-diplomatic-dash-second-china-visit-targets-economic-issues">among U.S. officials and military leaders.</a>
What Happened: China&#39;s Rocket Force, equipped with thousands of missiles, is a major threat to U.S. forces in the Indo-Pacific,&nbsp;<a href="https://www.businessinsider.com/us-military-china-missile-problem-getting-worse-2024-5">reported </a>Business<a href="https://www.businessinsider.com/us-military-china-missile-problem-getting-worse-2024-5">&nbsp;</a>Insider.&nbsp;The missiles, known as &quot;carrier killers&quot; and the &quot;Guam Express,&quot; could make a potential conflict in the region devastating for American forces.
The Chinese military has effectively doubled its stock of some missiles from 2021 to 2022, including medium-range ballistic missiles that could target American military bases in Japan and intermediate-range missiles that can reach Guam.
Speaking with Business Insider,&nbsp;&nbsp;Adm. John Aquilino, the current commander of the U.S. Indo-Pacific Command, referred to China as &quot;the most concerning security threat that exists.&quot;
Also Read:&nbsp;<a href="https://www.benzinga.com/news/24/04/38430009/xi-jinping-calls-for-chinese-army-to-focus-on-the-battlefield-during-visit-to-military-medical-unive?itm_source=parsely-api" rel="noreferrer noopener" target="_blank">Xi Jinping Calls For Chinese Army To &lsquo;Focus On The Battlefield&rsquo; During Visit To Military Medical University</a>
Why It Matters: China&#39;s military doctrine focuses on deterring threats and, if necessary, striking quickly and hard.&nbsp;
The country&#39;s expanding missile capabilities are part of a larger strategy to prevent the U.S.&nbsp;and its allies from gaining unrestricted access to the Pacific region. This includes potential scenarios where U.S. forces attempt to aid Taiwan during a Chinese blockade or invasion.
With these missiles, China is signaling that it could attack U.S. bases and ships in the region with little to no warning.
The U.S. Defense Department estimates China has more than 500 operational nuclear warheads, the third most in the world, and that number is expected to increase.
Experts have called for the U.S. to respond to China&#39;s challenges in a way that recognizes the scale of the threats. This includes strengthening air defenses, hardening bases in the Pacific&nbsp;and dispersing forces to avoid becoming fixed targets.
Furthermore, <a href="https://www.benzinga.com/news/23/07/33088668/us-spies-sound-alarm-on-risks-of-engaging-in-business-with-china">U.S. intelligence officials have warned</a> of the risks of doing business with China due to its updated counterespionage law. Amidst these tensions, countries like Australia are <a href="https://www.benzinga.com/news/23/09/34394492/clone-wars-china-us-conflict-may-use-ai-shark-robots-and-more">bolstering their defense capabilities</a> in the Asia-Pacific region.
Now Read:&nbsp;<a href="https://www.benzinga.com/markets/latin-america/24/04/38485754/us-seeks-to-counter-chinas-economic-clout-in-latin-america-with-new-trade-deals">US Seeks To Counter China&#39;s Economic Clout In Latin America With New Trade Deals</a>
This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" style="box-sizing:inherit; color:rgba(var(--sk_highlight,18,100,163),1); text-decoration:underline" target="_blank">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

China's Growing Missile Arsenal Is Putting US Officials On Edge

Hims &amp; Hers Health Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/hims#NYSE">HIMS</a>) stock was hit significantly on Friday following its&nbsp;CEO&#39;s public support for pro-Palestinian&nbsp;protesters.
What Happened: The company&#39;s stock plummeted by 8% during Friday&#39;s trading session due to CEO Andrew Dudum&#39;s public endorsement of pro-Palestinian campus protesters and his call for them to join his company.
The telehealth and online pharmacy services provider&#39;s stock slightly recovered 0.89% during after-hours trading.
Dudum&#39;s support for the protesters was shared on X, formerly Twitter, where he stated, &quot;Moral courage &gt; College degree.&quot;
He further encouraged those protesting against the genocide of the Palestinian people and advocating for their university&#39;s divestment from Israel.
&quot;If you&#39;re currently protesting against the genocide of the Palestinian people &amp; for your university&#39;s divestment from Israel, keep going. It&#39;s working,&quot; he added in the post.&nbsp;
Also Read:&nbsp;<a href="https://www.benzinga.com/insights/options/24/03/37853091/check-out-what-whales-are-doing-with-hims">Check Out What Whales Are Doing With HIMS</a>
&quot;There are plenty of companies &amp; CEOs eager to hire you, regardless of university discipline,&quot; Dudum said.&nbsp;
<blockquote class="twitter-tweet">Moral courage &gt; College degree
If you&rsquo;re currently protesting against the genocide of the Palestinian people &amp; for your university&rsquo;s divestment from Israel, keep going. It&rsquo;s working.
There are plenty of companies &amp; CEOs eager to hire you, regardless of university discipline.&hellip;
&mdash; andrewdudum (@AndrewDudum) <a href="https://twitter.com/AndrewDudum/status/1785630723958800607?ref_src=twsrc%5Etfw">May 1, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>Notable business figures, including Palantir co-founder Joe Lonsdale and&nbsp;radio host Jason Rantz, criticized Dudum&#39;s post. The company has yet to comment on the issue.
Why It Matters: Before this incident, <a href="http://www.benzinga.com/insights/options/24/04/38277836/unpacking-the-latest-options-trading-trends-in-hims-hers-health">deep-pocketed investors had adopted&nbsp;a bullish</a>&nbsp;approach toward Hims &amp; Hers Health Inc.
The company&nbsp;witnessed nine&nbsp;extraordinary options activities, with 66% of heavyweight investors leaning bullish.
Earlier in April, out of six analysts, the average 12-month price target for Hims &amp; Hers Health Inc. was $14.5, marking a positive shift of 26.09% <a href="http://www.benzinga.com/insights/analyst-ratings/24/04/38182102/breaking-down-hims-hers-health-6-analysts-share-their-views">from the previous average price target.</a>
However, the recent controversy surrounding the CEO&#39;s remarks could impact these bullish sentiments and projections.
Now Read:&nbsp;<a href="https://www.benzinga.com/news/earnings/24/02/37343453/these-analysts-boost-their-forecasts-on-hims-hers-after-upbeat-earnings">These Analysts Boost Their Forecasts On Hims &amp; Hers After Upbeat Earnings</a>
This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" style="box-sizing:inherit; color:rgba(var(--sk_highlight,18,100,163),1); text-decoration:underline" target="_blank">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Photo: Shutterstock

Hims & Hers Health, Inc. Class A Common Stock

HIMS

Hims & Hers Health CEO Under Fire After Expressing Support For Pro-Palestinian Student Protesters, Company Stock Plummets

Over the weekend,&nbsp;Elon Musk&nbsp;agreed with a sentiment shared by investment titan Warren Buffett about the <a href="https://www.benzinga.com/markets/cryptocurrency/22/05/26921540/elon-musk-laughs-at-warren-buffett-what-did-the-oracle-of-omaha-say">importance of spending time with loved ones</a>, despite their contrasting investment philosophies.&nbsp;
What Happened: On Saturday, in response to a tweet quoting Buffett&#39;s advice, &quot;Ask yourself who you&rsquo;d want to spend the last day of your life with and then meet with them as often as you can,&quot; Musk simply replied, &quot;My kids.&quot;&nbsp;
<blockquote class="twitter-tweet">My kids
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1786830299009265830?ref_src=twsrc%5Etfw">May 4, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>In June 2022, Musk&nbsp;went on X, formerly Twitter, to share his thoughts about many friends not having kids.&nbsp;He shared a clip of the 2006&nbsp;sci-fi comedy &quot;Idiocracy&quot; and asked his followers to watch the opening scene.&nbsp; He then compared the movie&#39;s introduction&nbsp;with <a href="https://www.benzinga.com/news/22/06/27778383/heres-why-elon-musk-wants-you-to-watch-idiocracy-1">his friends who are not having kids.&nbsp;</a>
Also Read:&nbsp;<a href="https://www.benzinga.com/news/earnings/24/05/38629797/berkshire-board-member-expresses-confidence-in-warren-buffetts-successor-greg-abel-he-will-run-the-">Berkshire Board Member Expresses Confidence In Warren Buffett&#39;s Successor Greg Abel: &#39;He Will Run The Companies ... In The Same Way That Warren Ran Them&#39;</a>
Apart from his children with artist Grimes, Musk is a father to <a href="https://www.benzinga.com/news/23/09/34409906/secrets-out-musk-and-grimes-welcome-third-baby-according-to-upcoming-biography">six children from his marriage </a>with Canadian writer&nbsp;Justine Wilson.&nbsp;Their firstborn,&nbsp;Nevada Alexander, died from&nbsp;sudden infant death syndrome&nbsp;when he was just 10 weeks old.
Musk also fathered twins with Neuralink executive&nbsp;Shivon Zilis&nbsp;through in vitro fertilization (IVF).
Why It Matters: Buffett, chairman of Berkshire Hathaway, is renowned for his simple and down-to-earth approach to business and investing.
His emphasis on long-term thinking, value creation, and personal values, including the importance of love and relationships, has earned him a reputation as one of the <a href="http://www.benzinga.com/news/23/03/31512478/warren-buffetts-success-mantra-the-amount-you-are-loved-is-the-ultimate-measure-of-success-in-life">world&#39;s most trustworthy and respected business leaders</a>.&nbsp;
Musk&#39;s acknowledgment of Buffett&#39;s wisdom underscores the importance of balancing professional success with personal relationships, a sentiment that resonates with many high-profile business leaders.
Now Read:&nbsp;<a href="https://www.benzinga.com/news/22/04/26439359/elon-musk-tweets-on-pandemic-baby-bust-why-a-lack-of-kids-is-the-real-problem">Elon Musk Tweets On Pandemic Baby Bust: Why A Lack Of Kids Is The Real Problem</a>
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo: Shutterstock

Social Media

Health Care

Elon Musk Shares Who He'd Want To Spend His Last Moments With In Response To Warren Buffett's Advice

<h2 class="wp-block-heading">San Diego&#8217;s New Equity Cannabis Program</h2>
The County of San Diego introduced a <a href="https://www.countynewscenter.com/new-cannabis-program-to-address-inequity-in-unincorporated-area/">new equity program</a> aimed at addressing historical inequities in cannabis business ownership. The initiative focuses on helping individuals negatively impacted by the so-called <a href="https://www.benzinga.com/topic/war-on-drugs">War on Drugs</a> in unincorporated areas. The program includes two key components: the <a href="https://www.benzinga.com/topic/social-equity">social equity </a>entrepreneurs and social equity beneficiaries, both designed to support those affected by past cannabis criminalization. The program&#8217;s design reflects feedback from a Social Equity Assessment in which participants can receive assistance such as business and technical support, legal services and grants. County officials emphasize the program&#8217;s role in addressing the harms caused by unjust punishment. 
<h2 class="wp-block-heading">Early Cultivation in Minnesota</h2>
Minnesota is setting the record straight, allowing early cultivation of recreational cannabis through an amendment to its law. The state aims to ensure a sufficient supply when <a href="https://www.benzinga.com/markets/cannabis/24/04/38339494/cannabis-retail-in-minnesota-house-passes-bill-to-accelerate-marketplace-aiming-for-early-rollou">retail sales begin</a>, which was a<a href="https://www.startribune.com/under-pressure-from-advocates-minn-legislators-debate-proposal-to-allow-early-marijuana-growing/600362875/?refresh=true"> huge concern among cannabis advocates</a>. The proposal allows certain growers, particularly social equity applicants, to start cultivating cannabis under existing medical cannabis rules. The amendment is a response to the problem generated by the decision to provide simultaneous licensing for all sectors. State Senator Lindsey Port (D), who supports the proposal, <a href="https://radiomankato.com/state-responds-to-commercial-cannabis-growers-who-say-they-need-to-plant-now/">argues </a>that using the existing medical rules would enable quick market implementation while maintaining a focus on equity.
<h2 class="wp-block-heading">South Carolina&#8217;s Medical Marijuana Bill</h2>
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/02/37017713/south-carolinas-medical-marijuana-bill-prohibits-smoking-limiting-economic-growth-o">South Carolina&#8217;s Compassionate Care Act</a>, which aims to legalize medical marijuana <a href="https://www.southcarolinapublicradio.org/sc-news/2024-05-01/legis-medicalmarijuana">faces delays </a>as the legislative session winds down. Despite earlier progress in the Senate, the bill, championed by Republican State Senator Tom Davis remains stuck in a House committee. The bill proposes tightly regulated medical marijuana use for specific conditions. Opposition from law enforcement, particularly concerns about federal approval, has contributed to the bill&#8217;s challenges. Davis, who has advocated for medical cannabis for a decade, remains hopeful for a House vote, but time is running out.
<h2 class="wp-block-heading">Vermont&#8217;s Overdose Prevention Center</h2>
The <a href="https://www.benzinga.com/topic/vermont">Vermont </a>Senate has given <a href="https://www.mynbc5.com/article/vermont-senate-gives-first-green-light-to-overdose-prevention-centers/60662149">preliminary approval</a> to a bill creating an overdose prevention site in Burlington. The bill, which previously passed in the House, has faced emotional debate. Supporters argue that the site will provide critical help to all ages, while opponents say they&#8217;re concerned about the lack of age restrictions. The site aims to offer assistance to individuals in vulnerable moments, with staff providing information and support. The bill&#8217;s progress highlights Vermont&#8217;s evolving approach to drug-related issues, which is unique in drug policy at an international level.
<h2 class="wp-block-heading">US: Public Support for Cannabis Banking Reform</h2>
Community bankers meeting in Washington, D.C. <a href="https://www.icba.org/newsroom/news-and-articles/2024/04/25/as-community-bankers-gather-in-washington-new-polling-shows-public-support-for-policy-priorities">highlighted </a>public support for <a href="https://www.benzinga.com/markets/cannabis/23/09/34958558/exclusive-the-safer-banking-act-is-a-long-awaited-first-step-towards-the-economic-legitimacy-of-">cannabis banking reform</a>. Polling data shows that 64% of Americans believe the SAFER Banking Act, which allows cannabis-related businesses access to the banking system, would improve public safety. Additionally, 54% agree that opening the banking system to cannabis-related businesses would benefit underserved communities. This support underscores the growing consensus around integrating cannabis businesses into the financial system.

Cannabis Reg Update: San Diego New Equity Program, Early Cultivation In Minnesota, South Carolina Delays Medical Bill And More

A second &quot;black book&quot; believed to be owned by the late financier Jeffrey Epstein, containing 221 previously undisclosed names, <a href="https://www.benzinga.com/news/23/06/32913836/jpmorgans-connections-to-sex-offender-jeffrey-epstein-detailed-in-report">is set to be auctioned off.</a>
What Happened: According to a report <a href="https://www.thedailybeast.com/for-sale-jeffrey-epsteins-second-black-book-of-the-rich-and-famous?ref=home?ref=home">by </a>the<a href="https://www.thedailybeast.com/for-sale-jeffrey-epsteins-second-black-book-of-the-rich-and-famous?ref=home?ref=home">&nbsp;</a>Daily Beast, the book could fetch up to $200,000 or more. The identities of the bidders will be kept confidential.
The book, found on Fifth Avenue in the East Village by a female musician in the 1990s, lists 349 people, 221 of whom were not mentioned in Epstein&#39;s more infamous &quot;black book.&quot;&nbsp;
None of the individuals named in the book have been charged with any crime related to Epstein.&nbsp;
The auction by Alexander Historical Auctions will include a forensic examiner&rsquo;s report verifying the book&#39;s authenticity. The auction is scheduled for May 15.
Bill Panagopulos, owner of the auction house, estimates the book&#39;s value to be between $100,000 and $200,000.
In 2015, Gawker leaked the contents of Epstein&rsquo;s first-known&nbsp;black book, which included names such as Michael Bloomberg, Bill Clinton, Donald Trump, Mick Jagger&nbsp;and Prince Andrew. All have denied any wrongdoing related to Epstein. This second book, which is older and is now going up for auction, includes names such as Melania Trump&#39;s friend and New York Jets co-owner&nbsp;Suzanne&nbsp;Ircha&nbsp;(now Suzanne Johnson), Carl Icahn, Chris Cuomo&#39;s wife&nbsp;Cristina Greeven, Jill Harth (who alleged that she was sexually assaulted by Donald Trump) and billionaire&nbsp;John Catsimatidis, according to the Daily Beast.&nbsp;
Also Read:&nbsp;<a href="https://www.benzinga.com/news/23/06/32704251/convicted-sex-offender-jeffrey-epstein-made-fake-phone-call-to-dead-mother-before-suicide-at-manhatt">Convicted Sex Offender Jeffrey Epstein Made Fake Phone Call To Dead Mother Before Suicide At Manhattan Prison</a>
Epstein was found dead in his Manhattan federal jail cell in 2019 while awaiting trial on sex trafficking charges. His death was ruled a suicide.
Why It Matters: This auction comes amid&nbsp;a series of events related to Epstein&#39;s notorious past.
In April 2023, Ghislaine Maxwell, Epstein&#39;s associate, appealed her 20-year sentence for her role in <a href="https://www.benzinga.com/general/entertainment/22/06/27557540/musk-says-he-wants-to-see-epstein-maxwell-client-list-twitterati-cant-stop-trolling-him-3">Epstein&#39;s sex trafficking ring.&nbsp;</a>
In May 2023, Tesla owner <a href="http://www.benzinga.com/general/23/05/32410434/elon-musk-subpoenaed-in-us-virgin-islands-jeffrey-epstein-related-case-against-jpmorgan">Elon Musk was subpoenaed by the U.S. Virgin</a> Islands for documents related to Epstein&#39;s case against JPMorgan.
Now Read:&nbsp;<a href="https://www.benzinga.com/news/24/04/38479082/elon-musk-gives-one-word-response-to-joe-bidens-dig-at-donald-trump-at-white-house-correspondents-di">Elon Musk Gives One-Word Response To Joe Biden&#39;s Dig At Donald Trump At White House Correspondents&#39; Dinner</a>
This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" style="box-sizing:inherit; color:rgba(var(--sk_highlight,18,100,163),1); text-decoration:underline" target="_blank">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Photo: Wikimedia Commons

Jeffrey Epstein's Second 'Black Book' Is Up For Sale — And It Contains The Names Of Over 200 Previously Undisclosed People, Including Carl Icahn

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Latest News for Syrah Resources Stock (OTC:SRHYY)

Wednesday, October 09, 2019