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Marques Brownlee, a renowned YouTube tech reviewer, has recently stirred up controversy with his critique of Humane&#8216;s AI Pin, raising questions about the impact of his influence on burgeoning companies.
What Happened: Brownlee, also known as MKBHD, titled his review of the AI Pin as &#8220;The Worst Product I&#8217;ve Ever Reviewed… For Now.&#8221;
Despite praising the design and concept of the device, Brownlee took issue with its performance, pointing out slow response times, inaccurate answers, inconsistent battery life, and subpar photo and video quality.
The review ignited a fiery debate online. Some, like Humane&#8217;s head of new media, Sam Sheffer, welcomed Brownlee&#8217;s &#8220;honest&#8221; and &#8220;solid&#8221; review, seeing it as constructive criticism. 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">an honest, solid review marques — all fair and valid critiques, both the good and the bad feedback is a gift. we reflect and we listen and we learn and we continue building. <a href="https://t.co/gKp1E3V2et">https://t.co/gKp1E3V2et</a>
&mdash; Sam Sheffer (@samsheffer) <a href="https://twitter.com/samsheffer/status/1779677818189722100?ref_src=twsrc%5Etfw">April 15, 2024</a></blockquote>
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Others, however, deemed it &#8220;almost unethical&#8221; due to Brownlee&#8217;s considerable influence and the potential repercussions of his review on Humane&#8217;s future.
Critic Daniel Vassallo argued that Brownlee&#8217;s review title could be damaging to Humane, as it&#8217;s what most people will see. He underscored that the power to devastate a company should not be taken lightly.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I find it distasteful, almost unethical, to say this when you have 18 million subscribers. Hard to explain why, but with great reach comes great responsibility. Potentially killing someone else's nascent project reeks of carelessness. First, do no harm. <a href="https://t.co/xFft3u2LYG">pic.twitter.com/xFft3u2LYG</a>
&mdash; Daniel Vassallo (@dvassallo) <a href="https://twitter.com/dvassallo/status/1779753281960722706?ref_src=twsrc%5Etfw">April 15, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38237773/benzinga-bulls-and-bears-tesla-amc-trump-media-plus-lessons-from-dogecoins-post-2020-bitco?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Benzinga Bulls And Bears: Tesla, AMC, Trump Media Plus Lessons From Dogecoin&#8217;s Post-2020 Bitcoin Halving Surge</a>
Alex Finn highlighted the formidable influence wielded by creators in today&#8217;s digital landscape. Referring to a critical review by popular YouTuber MKBHD, Finn said &#8220;MKBHD bankrupted a company in 41 seconds.&#8221;
The assertion that a mere slight from a prominent content creator, coupled with harsh critique, could precipitate a company&#8217;s downfall underscores the significant power creators hold in shaping consumer perceptions and market outcomes in 2024.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">MKBHD bankrupted a company in 41 seconds A slight criticism from a big Youtuber, let alone calling the product HORRENDOUS, is enough to make a company go bust Creators are so much more powerful in 2024 than you think This clip will be the gravestone for Humane <a href="https://t.co/UbVtEHbN1g">pic.twitter.com/UbVtEHbN1g</a>
&mdash; Alex Finn (@AlexFinnX) <a href="https://twitter.com/AlexFinnX/status/1779866815226646880?ref_src=twsrc%5Etfw">April 15, 2024</a></blockquote>
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In 2018, Imran Chaudhri and Bethany Bongiorno, who had previously worked at Apple Inc, co-founded Humane. The startup transitioned out of stealth mode in 2021. Chaudhri presented the device and showcased its functionalities during a TED Talk in May. Later, the product gained further exposure when it was exhibited at Paris Fashion Week in September.
Why It Matters: Humane&#8217;s AI Pin, backed by OpenAI&#8216;s Sam Altman, was expected to revolutionize the consumer tech industry. The device was in talks with <a href="https://in.benzinga.com/content/37383856/sam-altman-backed-humane-in-talks-with-indian-telcos-for-voice-and-gesture-controlled-ai-pin-launch">Indian telecom operators</a> for its launch and was even named as one of the <a href="https://www.benzinga.com/news/23/10/35412753/what-is-humane-ai-pin-one-of-time-magazines-best-inventions-of-2023">&#8220;Best Inventions of 2023&#8221;</a> by Time Magazine.
Despite the hype, the device was not without its critics. Bloomberg columnist Mark Gurman had previously <a href="https://www.benzinga.com/news/24/04/38240620/potential-iphone-killer-humane-ai-pins-design-interface-inherently-flawed-says-gurman-can-merely-be">expressed skepticism</a> about the device&#8217;s potential, stating that smartphones were here to stay. 
The device&#8217;s price tag and subscription model also raised eyebrows, with the AI Pin <a href="https://www.benzinga.com/news/23/11/35695413/humane-ai-pin-will-cost-699-require-a-24month-subscription-and-comes-with-openai-integration">costing $699 and requiring a $24/month</a> subscription.
The controversy surrounding Brownlee&#8217;s review highlights the significant influence of tech influencers and the potential impact of their reviews on the success of emerging tech products.
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38255536/dogecoin-down-25-in-past-week-but-if-you-get-a-chance-to-buy-it-in-the-high-0-10s-buy-it-s?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Dogecoin Down 25% In Past Week, But &#8216;If You Get A Chance To Buy It In The High $0.10s, Buy It,&#8217; Says Trader</a>
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News

Tech

'MKBHD Bankrupted A Company In 41 Seconds':  Tech Influencer's Critique Of Humane's AI Pin Stirs Debate

Macro Economic Events

Econ #s

Economics

Reported Earlier, Chinese Unemployment Rate For March 5.2% Vs. 5.2% Est.; 5.3% Prior

Reported Earlier, China Industrial Production Year to Date (YoY) 6.1% Vs. 6.0% Est.; 7.0% Prior

Reported Earlier, China Industrial Production (YoY) 4.5% Vs. 6.0% Est.; 7.0% Prior

Reported Earlier, China Gross Domestic Product Year to Date (YoY) For Q1 5.3% Vs. 5.0% Est.; 5.2% Prior

Reported Earlier, China Gross Domestic Product (YoY) For Q1 5.3% Vs. 4.8% Est.; 5.2% Prior

Reported Earlier, China Gross Domestic Product (QoQ) For Q1 1.6% Vs. 1.2% (Revised) Prior

Reported Earlier, China Fixed Asset Investment (YoY) For March 4.5% Vs. 4.0% Est.; 4.2% Prior

The UK government is preparing to criminalize the creation of sexually explicit deepfake images.
What Happened: The proposed law will prosecute and fine individuals found guilty of creating such deepfakes without consent, irrespective of their intent to share the images. Distributing the images could lead to imprisonment, <a href="https://www.bloomberg.com/news/articles/2024-04-15/uk-to-criminalize-the-creation-of-intimate-deepfake-images">reported</a> Bloomberg.
The Ministry of Justice attributes the rise of deepfake images and videos to rapid advancements in artificial intelligence. The UK has classified violence against women and girls as a national threat, prompting police to prioritize its prevention. This new law forms part of the efforts to curb practices that are increasingly being used to humiliate or distress victims.
The Minister for Victims and Safeguarding, Laura Farris, stated, &#8220;This new offence sends a crystal clear message that making this material is immoral, often misogynistic, and a crime.&#8221;
See Also: <a href="https://www.benzinga.com/news/24/04/38230690/gop-lawmakers-slam-biden-after-trump-era-exemption-results-in-huawei-unveiling-laptop-with-new-intel?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">GOP Lawmakers Slam Biden After Trump-Era Exemption Results In Huawei Unveiling Laptop With New Intel AI Chip</a>
The government is also introducing new criminal offenses for individuals who take or record real intimate images without consent, or install equipment to enable someone to do so. 
An additional statutory aggravating factor will be introduced for offenders who cause death through abusive, degrading or dangerous sexual behavior.
Why It Matters: The misuse of deepfake technology has been a growing concern worldwide. In February, a <a href="https://www.benzinga.com/news/24/02/36930090/fraudsters-use-deepfake-tech-to-steal-25-million-in-sophisticated-corporate-scam">corporate scam</a> involving deepfake technology led to the theft of $25 million. The same month, Meta Platforms was urged to <a href="https://www.benzinga.com/news/24/02/36930046/meta-advised-to-overhaul-incoherent-deepfake-rules-by-oversight-board-after-biden-video">revise its deepfake rules</a> after a controversial video of President Joe Biden was deemed not to breach the company&#8217;s current regulations.
In March, the rise of deepfake videos in Asia <a href="https://www.benzinga.com/markets/asia/24/03/37689000/rise-of-deepfake-videos-in-asia-raises-alarms-over-election-misinformation-report">raised alarms</a> over potential election interference. Earlier in the year, Microsoft CEO, Satya Nadella, expressed concerns over <a href="https://www.benzinga.com/general/entertainment/24/01/36845419/satya-nadella-says-ai-generated-taylor-swift-deepfakes-are-alarming-and-terrible">AI-generated explicit images</a> of pop star Taylor Swift, describing the situation as &#8220;alarming and terrible&#8221;.
The UK&#8217;s move to criminalize the creation of intimate deepfake images is a significant step in addressing the misuse of this technology.
Read Next: <a href="https://www.benzinga.com/news/24/04/38216195/elon-musk-asks-advertisers-to-return-to-x-after-months-of-tussle-with-disney-apple-and-others-as-zuc?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Asks Advertisers To Return To X After Months Of Tussle With Disney, Apple, And Others As Zuckerberg&#8217;s Meta Faces Flak For Ad-System Inconsistency</a>
Image Via Shutterstock 
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Government

Regulations

Legal

MSFT

AI-Generated Sexually Explicit Deepfakes On UK Government Radar As New Law Seeks To Criminalize Them: 'Making This Material Is Immoral'

On Monday, Cathie Wood-led Ark Invest made significant trades involving Coinbase Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) and NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>). 
The COIN Trade
Ark Invest decided to offload 3,689 shares of Coinbase from its ARK Next Generation Internet ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKW#NYSE">ARKW</a>) fund. The value of the sold COIN shares, based on the closing price of $223.41 on Monday, amounts to approximately $824,000.
Last week, despite a recent rise in Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) prices, Ark Invest sold a <a href="https://www.benzinga.com/markets/equities/24/04/38214834/cathie-woods-ark-invest-sells-20m-coinbase-shares-as-bitcoin-trades-over-70k-buys-palantir-sells">significant amount of Coinbase shares</a>, with back-to-back trades on certain days. 
The NVDA Trade
Ark Invest also reduced its stake in NVIDIA Corp. from its ARK Genomic Revolution ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKG#BATS">ARKG</a>) fund by 157 units. The value of the sold Nvidia shares, based on the closing price of $860.01 on Monday, is approximately $135,000. This move comes despite a recent bullish prediction by a chart analyst, who suggested that NVIDIA is <a href="https://www.benzinga.com/markets/equities/24/04/38235114/nvidia-set-for-another-bull-run-analyst-pitches-1-150-target-says-this-time-its-bringing-more-fr">poised for another upward move. </a>
Other Key Trades: 
<ul>
<li>Ark Invest bought shares of Teladoc Health Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TDOC#NYSE">TDOC</a>) across its ARKF, ARKG, and ARKK funds. Shares of UiPath Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PATH#NYSE">PATH</a>) were sold from the ARKG fund. </li>
<li>The ARKK fund saw a purchase of shares from Roku Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROKU#NASDAQ">ROKU</a>) and a sale of Draftkings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DKNG#NASDAQ">DKNG</a>) shares.</li>
<li> ARKW fund sold shares of Twilio Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TWLO#NYSE">TWLO</a>).</li>
</ul>
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38237724/dogecoin-co-creator-billy-markus-sarcastically-signals-caution-amid-cryptocurrency-market-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Dogecoin Co-Creator Billy Markus Sarcastically Signals Caution Amid Cryptocurrency Market Crash: &#8216;Oh No Everything Died We Are Dead&#8217;</a>
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ETFs

$BTC

ARKG

ARKW

COIN

DKNG

NVDA

PATH

ROKU

TDOC

TWLO

Cathie Wood's Ark Invest Continues To Shed Coinbase, Nvidia Shares

Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) has decided to reduce the price of its &#8216;full self-driving&#8217; (FSD) subscription by half to $99 per month. This decision has led Gene Munster, Managing Partner at Deepwater Asset Management, to predict the end of manual driving.
What Happened: Tesla has made its self-driving technology more accessible to consumers by halving its subscription price. &#8220;Somebody born today is probably never going to drive a car,&#8221; Munster stated in an interview with CNBC&#8217;s Last Call, suggesting that manual driving could soon become obsolete. 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">&quot;Somebody born today is probably never going to drive a car,&quot; says <a href="https://twitter.com/munster_gene?ref_src=twsrc%5Etfw">@munster_gene</a> after Tesla cuts its &#39;full self-driving&#39; subscription in half. <a href="https://twitter.com/search?q=%24TSLA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TSLA</a> <a href="https://t.co/uNxRE9uX5B">pic.twitter.com/uNxRE9uX5B</a>
&mdash; Last Call (@LastCallCNBC) <a href="https://twitter.com/LastCallCNBC/status/1780016499203219654?ref_src=twsrc%5Etfw">April 15, 2024</a></blockquote>
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This prediction comes in response to Tesla&#8217;s latest move, which reflects the company&#8217;s confidence in the advancement and adoption of autonomous driving technology.
Munster also stressed Tesla&#8217;s potential to significantly expand its FSD technology as part of a broader revenue strategy by 2028, a point that has largely been overlooked.
See Also: <a href="https://www.benzinga.com/markets/equities/24/04/38243889/why-tesla-stock-is-sliding-before-opening-bell-today?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Why Tesla Stock Is Sliding Before Opening Bell Today</a>
Why It Matters: Tesla&#8217;s decision to slash the cost of its &#8216;full self-driving&#8217; subscription comes in the wake of a challenging period for the company. On Monday, Tesla had to <a href="https://www.benzinga.com/markets/equities/24/04/38262559/the-street-wants-and-needs-answers-from-elon-musk-on-tesla-layoffs-dan-ives-demands-rationale-fo">lay off 10% of its global workforce</a> following a quarter that saw a 20% drop in deliveries.
The price cut announced on Saturday reduced <a href="https://www.benzinga.com/news/24/04/38230953/elon-musks-tesla-slashes-price-of-full-self-driving-package-by-half-now-99month">the monthly subscription fee</a> for its premium driver assistance system in the U.S. from $199 to $99.
The move was well-received, with Nvidia's Senior Lead of Robotics describing <a href="https://www.benzinga.com/news/24/04/38241338/nvidia-robotics-expert-praises-tesla-fsds-human-like-maneuvers-as-magical">Tesla's latest</a> FSD feature as "magical."
Tesla CEO Elon Musk has been making significant strides in <a href="https://www.benzinga.com/news/24/03/37604789/gene-munster-predicts-boat-loads-of-funding-for-elon-musks-xai-after-it-open-sources-grok-many-will">the AI industry</a>, with his AI startup venture, xAI, open-sourcing the code of its AI chatbot Grok. This move was seen as a direct challenge to ChatGPT-parent OpenAI, a company that Musk co-founded in 2015 and left in 2018.
Read Next: <a href="https://www.benzinga.com/news/24/04/38234920/tesla-owner-alleges-she-was-roasting-like-a-freakin-chicken-after-being-trapped-in-115-degree-heat-i?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Tesla Owner Alleges She Was &#8216;Roasting Like A Freakin&#8217; Chicken&#8217; After Being Trapped In 115-Degree Heat Inside Her Car During Software Update</a>
Image Via Shutterstock 
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 The GPT-4-based Benzinga Neuro content generation system exploits the 
 extensive Benzinga Ecosystem, including native data, APIs, and more to 
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 <a href="https://www.benzinga.com/topic/kaustubh-bagalkote" target="_blank" rel="noopener" style="color: #225aa9;text-decoration: none">Learn more.</a>
 
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TSLA

Elon Musk's FSD Is The End Of Manual Driving? Tesla Bull Gene Munster Believes 'Somebody Born Today Is Probably Never Going To Drive A Car'

The global investment bank Morgan Stanley has recently released a list of top &#8220;alpha&#8221; stocks in the Asia-Pacific region, which includes a South Korean bank with a potential 28% upside.
What Happened: Morgan Stanley&#8217;s list of alpha stocks, released on Apr. 9, includes companies from the Asia-Pacific region, excluding Japan. These stocks, with a market capitalization exceeding $5 billion, were evaluated based on factors such as quality, value, and sentiment, <a href="https://www.cnbc.com/2024/04/16/morgan-stanley-names-global-alpha-stock-ideas-for-april.html">reported</a> CNBC. 
One of the top-ranked stock ideas on the list is Hana Financial Group, a South Korean commercial bank. The bank has received an overweight rating from Morgan Stanley, which has also raised its 12-month price target to 71,000 Korean won ($51.2), indicating a potential upside of 28% from its current level.
"Our Korea Financial analyst, Joon Seok &#8230; believes large-cap banks are key beneficiaries of the corporate reform theme," the bank said. 
See Also: <a href="https://www.benzinga.com/news/24/04/38241519/mark-cubans-288m-wire-transfer-to-irs-a-veiled-jab-at-trump?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mark Cuban&#8217;s $288M Wire Transfer To IRS: A Veiled Jab At Trump?</a>
Another stock that Morgan Stanley is bullish on is Novatek Microelectronics, a Taiwanese chipmaker. The bank&#8217;s analysts anticipate the stock to outperform due to factors such as the shift to foldable smartphones, market share gains, and a reduction in wafer cost. They also see potential new opportunities from AI ASIC (Application Specific Integrated Circuits) driving a re-rating.
Why It Matters: The selection of alpha stocks in the Asia-Pacific region comes at a time when the global stock market is experiencing significant shifts. Earlier this year, former Treasury Secretary Larry Summers voiced concerns about the <a href="https://www.benzinga.com/news/24/02/37301406/larry-summers-voices-major-concern-about-markets-amid-huge-rally-im-not-sure-that-kind-of-risk-is-fu">market potentially overlooking</a> potential political and social upheavals, despite the ongoing rally.
Meanwhile, Ned Davis Research (NDR) warned that the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/03/37640416/stock-market-could-be-on-brink-of-a-correction-says-analyst-who-doesnt-expect-a-bea">current market conditions</a> could lead to a correction, although a bear market is not imminent. This was followed by a warning from Paul Dietrich, the chief investment strategist at B. Riley Wealth, who <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/03/37979729/stock-market-bizarrely-overvalued-warns-expert-every-single-indicator-tell-us-were-">pointed to several indicators</a> in the market signaling a collective warning for stocks.
Despite these warnings, the stock market&#8217;s long-term bull rally, now in its 11th year, is <a href="https://www.benzinga.com/markets/equities/24/03/37926504/stock-market-could-rally-another-34-by-2026-says-bank-of-america">poised to continue</a>, with the S&amp;P 500 potentially surging by 34% by the end of 2026, according to Bank of America&#8216;s technical strategist, Stephen Suttmeier.
Read Next: <a href="https://www.benzinga.com/markets/asia/24/04/38242468/former-trump-aide-scaramucci-urges-keeping-ex-president-as-far-from-the-white-house-as-possible-afte?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Former Trump Aide Scaramucci Urges Keeping Ex-President &#8216;As Far From The White House As Possible&#8217; After Iran&#8217;s Attack On Israel: &#8216;Protect Our 76-Year Ally&#8217;</a>
Image Via Shutterstock 
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Asia

BABA

Morgan Stanley Identifies Top 'Alpha' Stocks In APAC, One With Potential 28% Upside

On Monday, the leading U.S. stock indices experienced declines, as the Dow Jones Industrial Average concluded the day 0.65% below at 37,735.11, while the S&amp;P 500 dipped 1.2% to 5,061.82. Similarly, the Nasdaq closed the session with a decrease of 1.8% at 15,885.02.
These are the top stocks that gained the attention of retail traders and investors throughout the day:
Trump Media &amp; Technology Group Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJT#NASDAQ">DJT</a>)
The stock tumbled by 18.35% to close at $26.61, with an intraday high and low of $29.76 and $26.25 respectively. This comes after the company, which is behind Donald Trump&#8217;s Truth Social platform, <a href="https://www.benzinga.com/news/24/04/38248348/trump-media-technology-group-stock-is-tumbling-monday-whats-going-on">filed a prospectus</a> related to the issuance of millions of shares of additional stock.
Rivian Automotive, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>)
Rivian&#8217;s shares traded lower, closing at $8.40, a decrease of 8%. The stock&#8217;s intraday high and low were $9.17 and $8.32 respectively. The stock has been <a href="https://www.benzinga.com/news/24/04/38255034/whats-going-on-with-rivian-automotive-stock">down more than 18%</a> over the past five days.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38238033/14-8-trillion-shiba-inu-tokens-liquidated-in-just-24-hours-amid-market-downturn?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">14.8 Trillion Shiba Inu Tokens Liquidated In Just 24 Hours Amid Market Downturn</a>
Goldman Sachs Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>)
Goldman Sachs saw a surge in its stock, closing at $400.88, an increase of 2.92% for the day. The intraday high and low were $412.87 and $398.69 respectively. The financial services giant reported <a href="https://www.benzinga.com/news/earnings/24/04/38247147/goldman-sachs-sees-resurgence-in-debt-underwriting-and-deal-activity-q1-profit-jumps-28">better-than-expected first-quarter earnings</a>, with revenue of $14.21 billion.
Salesforce Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NYSE">CRM</a>)
Salesforce&#8217;s stock slid by 7.28% to close at $272.90, with an intraday high and low of $286.48 and $271.66 respectively. The company is reportedly in <a href="https://www.benzinga.com/m-a/24/04/38247266/salesforce-stock-is-sliding-monday-whats-going-on">advanced talks to acquire</a> cloud data management company Informatica.
Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)
Tesla&#8217;s stock slumped by 5.59% to close at $161.48, with an intraday high and low of $170.69 and $161.38 respectively. The electric vehicle maker is reportedly looking to <a href="https://www.benzinga.com/markets/equities/24/04/38241819/tesla-on-the-cusp-of-massive-20-job-cuts-amid-fundamental-woes-stock-slump-report">trim its workforce</a> amid fundamental issues.
Prepare for the day&#8217;s trading <a href=""Premarket">with top premarket movers and news</a> by Benzinga.
Stocks Photo by WHYFRAME on Shutterstock
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38218347/jim-cramer-says-he-would-sell-this-tesla-chinese-rival-after-stock-lost-over-47-in-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Jim Cramer Says He &#8216;Would Sell&#8217; This Tesla Chinese Rival After Stock Lost Over 47% In 2024</a>
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RIVN

Trump Media & Technology, Rivian, Goldman Sachs, Salesforce, Tesla: Why These 5 Stocks Are On Investors' Radars Today

Even as Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) shares took a beating from <a href="https://www.benzinga.com/news/24/04/38244436/breaking-tesla-said-to-be-laying-off-over-14-000-employees">confirmation regarding a round of massive layoffs, </a>including those of high-profile executives, a new report said on Monday the electric- vehicle maker has in fact put on hold the development of its low-cost vehicle.
What Happened: Tesla has stalled the development of the proposed $25,000 EV, which the Street referred to as Model 2,<a href="https://electrek.co/2024/04/15/tesla-puts-electric-car-codenamed-nv9-back-burner-despite-elon-musk-said/"> said </a>Electrek, citing sources familiar with the matter. The report said internally, the project was codenamed NV9. 
The report comes close on the heels of CEO Elon Musk denying a Reuters report that said the U.S. EV giant is scrapping the project.
The Electrek report said the rumored postponement of the project is due to the company&#8217;s decision to deploy all resources on hand to the self-driving project. Incidentally, Musk told his Giga Austin team in December that expanding the factory for the manufacturing of the new cheaper, next-gen model was a priority for 2024, the report added.
However, the project has been completely defunded now and many people involved in the project were part of the layoffs announced Monday, the report said. The billionaire is now reportedly focusing on the south expansion of the Giga Texas, which will likely house a giant data center for the robotaxi project but it is already behind schedule, casting doubts on whether it can be completed by the August deadline Musk has set.
See Also: <a href="https://www.benzinga.com/money/everything-you-need-to-know-about-tesla-stock">Everything You Need To Know About Tesla Stock</a>
Why It&#8217;s Important: Tesla said in its fourth-quarter earnings report, &#8220;We are focused on bringing the next generation platform to market as quickly as we can, with the plan to start production at Gigafactory Texas.&#8221; The company said then the platform will revolutionize how vehicles are manufactured.
Musk also said on the earnings call that he was really excited about the low-cost EV and that it would be manufactured first in Giga Texas and then in Giga Mexico followed by expansion elsewhere. He also gave a second-half of 2025 start-of-production timeline for the vehicle.
CFO Vaibhav Taneja&nbsp;said then that volume growth in the near term will slacken as the company channelizes the team&#8217;s focus on the launch of the next-generation vehicle.
Reports suggest the company was looking at two vehicles based on the platform &#8211; a low-cost vehicle and a steering-less car for the robotaxi service geared for the full autonomy.
Musk confirmed earlier this month that robotaxi unveil will be on Aug. 8.
Commenting on the Electrek report, Future Fund&#8217;s Gary Black said, &#8220;This is not good for $TSLA P/E if true.&#8221; 
Tesla bull and Wedbush analyst Daniel Ives said in a note last week that &nbsp;<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38215386/tesla-robotaxis-no-magic-model-to-replace-sub-30k-ev-says-analyst-musk-needs-to-giv">"Robotaxi is not the answer for now; Model 2 needs to be on the Tesla blueprint.&#8221; </a>As the company is left to navigate through the Category 5 demand storm, a key part of the future growth story for it, is the Model 2 vehicle and sub-$30,000 price point that will likely drive mass demand globally, he said. The analyst also estimated that about 60% of Tesla&#8217;s future growth would come from the proposed EV.
Teala ended Monday&#8217;s session down 5.59% at $161.48, according to <a href="https://benzinga.grsm.io/register174">Benzinga Pro data.</a>
Photo via Shutterstock
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38243353/wow-elon-musk-reacts-to-reminder-of-how-tesla-bulls-optimistic-2021-rivian-predicti">&#8216;Wow:&#8217; Elon Musk Stunned By Reminder Of How Tesla Bull&#8217;s Optimistic 2021 Rivian Prediction &#8216;Didn&#8217;t Age Well&#8217; </a>

Analyst Color

'Not Good' For Tesla If It's True, Says Fund Manager, As New Report Says EV Maker Has Put Sub-$30K Vehicle On Hold

Renowned cryptocurrency analyst Willy Woo has projected that the introduction of Bitcoin ETFs could potentially drive Bitcoin&#8217;s (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) price to surpass that of gold.
What Happened: In a tweet on Monday, Woo outlined his predictions for Bitcoin&#8217;s future performance in light of the recent introduction of Bitcoin ETFs. He suggested that once ETF investors have fully deployed, Bitcoin could reach price targets of $91k at the bear market bottom and $650k at the bull market top. He emphasized that these are conservative estimates and that Bitcoin is likely to exceed gold&#8217;s market cap once ETFs have completed their role.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38237724/dogecoin-co-creator-billy-markus-sarcastically-signals-caution-amid-cryptocurrency-market-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Dogecoin Co-Creator Billy Markus Sarcastically Signals Caution Amid Cryptocurrency Market Crash: &#8216;Oh No Everything Died We Are Dead&#8217;</a>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The new <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> ETFs brings price targets of $91k at the bear market bottom and $650k at the bull market top once ETF investors have fully deployed according to asset manager recommendations&#x2A;&#x2A;&#x2A;. These are very conservative numbers. <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> will beat gold cap when ETFs have…
&mdash; Willy Woo (@woonomic) <a href="https://twitter.com/woonomic/status/1779829797738438754?ref_src=twsrc%5Etfw">April 15, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Woo&#8217;s calculations are based on the assumption that asset managers, who manage $100T, will allocate 2% of their funds to Bitcoin, resulting in a $2T allocation. He also factored in Bitcoin&#8217;s current investment holdings of $561,159,959 and used the MVRV ratio to calculate market cap versus money invested.
Why It Matters: The SEC approved <a href="https://www.benzinga.com/markets/cryptocurrency/24/01/36514679/wall-street-enters-the-crypto-age-sec-issues-historic-approval-of-spot-bitcoin-etfs">applications for various entities</a>, including the Grayscale Bitcoin Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GBTC#NYSE">GBTC</a>), the Bitwise Bitcoin ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BITB#NYSE">BITB</a>), the Hashdex Bitcoin ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DEFI#NYSE">DEFI</a>), the Valkyrie Bitcoin Fund (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BRRR#NASDAQ">BRRR</a>), the ARK 21Shares Bitcoin ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKB#BATS">ARKB</a>) and others on Jan. 10, 2024.
It should be noted that the estimated market cap of gold is nearly $16.1 trillion, calculated on the basis of the precious metal at $2,400 per ounce.
Woo said in his post, &#8220;Bitcoin will certainly exceed Gold capitalisation by the time asset manager capital has deployed. Gold went on a 12 year bull run when it&#8217;s ETF was approved, now it&#8217;s Bitcoin&#8217;s turn.&#8221;
Bitcoin&#8217;s current market capitalization is $1.2 trillion. According to Woo at $650,000 per coin, the market cap for the apex cryptocurrency is set to rise to $12.8 trillion.
Recently, Woo forecasted Bitcoin&#8217;s price to <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38246857/bitcoins-next-move-more-likely-to-hit-up-to-75k-on-short-liquidations-analyst-says">potentially reach $71,000 to $75,000</a> due to short liquidations, despite a critical support level at $58,900. He remained optimistic as the Cumulative Volume Delta (CVD) metric suggested upward pressure. Woo anticipated increased volatility around the Bitcoin halving event, preparing for choppy market conditions in April, but still expected a bullish scenario with short liquidations driving the price upward.
Bitcoin ETFs have experienced significant trading volumes, with a whopping $111 billion traded in March alone, according to another <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38071383/bitcoin-etfs-traded-111b-in-march-2-new-etfs-could-mean-the-action-gets-even-wilder">Benzinga report</a>. However, the past week saw an 8% drop in Bitcoin prices, leading to $83M net outflows in spot Bitcoin ETFs, as highlighted in this <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38252123/bitcoins-8-drop-past-week-led-to-83m-net-outflows-in-spot-bitcoin-etfs">Benzinga article</a>.
Price Action: At the time of writing, Bitcoin traded 3.7% higher at $62,884.16, according to <a href="https://pro.benzinga.com/feature/newsfeed/?gspk=bHVrZWphY29iaTUzNDg&amp;gsxid=tdEE0VrK8Jeg&amp;ref=lukejacobi5348">data from Benzinga Pro.</a>
Photo Courtesy: Shutterstock.com
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38239071/peter-schiff-foresees-bitcoins-biggest-crash-ever-trump-nft-collection-sees-trading-volume?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Peter Schiff Foresees Bitcoin&#8217;s &#8216;Biggest Crash Ever,&#8217; Trump NFT Collection Sees Trading Volume Collapse And More: This Week In Cryptocurrency</a>
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Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

ARK 21Shares Bitcoin ETF ARK 21Shares Bitcoin ETF

ARKB

Bitwise Bitcoin ETF Common Shares of Beneficial Interest

BITB

BRRR

DEFI

GBTC

Bitcoin ETFs Could Propel King Crypto Above Gold's Market Cap, Says Analyst: 'These Are Very Conservative Numbers'

Elon Musk, CEO of Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), is being called upon to clarify the circumstances surrounding the recent layoffs at the company. The move comes in the wake of a challenging period for the electric vehicle giant, with investors seeking reassurances.
What Happened: Wedbush analyst Dan Ives has urged Musk to shed light on the decision to lay off 10% of Tesla&#8217;s global workforce. This decision follows a quarter that saw a 20% drop in deliveries compared to the previous year, <a href="https://markets.businessinsider.com/news/stocks/elon-musk-tesla-stock-price-layoffs-earnings-outlook-dan-ives-2024-4">reported</a> Business Insider.
High-ranking executives, including Drew Baglino, Tesla&#8217;s former senior vice president of powertrain and electrical engineering, and Rohan Patel, Tesla&#8217;s former vice president of public policy and business development, have also exited the company. Ives has described Baglino&#8217;s departure as a significant blow to Tesla due to his role in the development of Tesla&#8217;s Model 2.
&#8220;The Street wants and NEEDS answers next week on Tesla&#8217;s 1Q conference call next Tuesday, April 23rd after the bell as the string of bad news over the last few months has been a horror show for investors in the Tesla story,&#8221; Ives wrote in a memo according to the report.
&#8220;We need to hear the rationale for the cost cutting, the strategy going forward, product roadmap, and an overall vision from Musk otherwise many investors might head for the elevators during this Category 5 perfect storm of weak demand Tesla is seeing globally in 2024,&#8221; wrote Ives.  
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38243353/wow-elon-musk-reacts-to-reminder-of-how-tesla-bulls-optimistic-2021-rivian-predicti?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">&#8216;Wow:&#8217; Elon Musk Stunned By Reminder Of How Tesla Bull&#8217;s Optimistic 2021 Rivian Prediction &#8216;Didn&#8217;t Age Well&#8217;</a>
Since the start of the year, Tesla&#8217;s stock has plummeted by 35%, and several banks have lowered their price targets for the automaker. Despite these challenges, Wedbush maintains its &#8220;outperform&#8221; rating for Tesla and has reaffirmed its $300 price target for the stock.
Why It Matters: The recent layoffs at Tesla are not the first sign of trouble for the company. In February, Tesla was reported to be <a href="https://www.benzinga.com/news/rumors/24/02/36984121/is-your-tesla-job-essential-ev-maker-confronts-potential-layoff-wave-as-r-d-spending-spikes">considering mass layoffs</a> as it faced a slowdown in sales growth. The company&#8217;s management had asked U.S. managers to categorize their team members&#8217; roles as either critical or non-critical. This move was seen as a cost-cutting measure in preparation for future expansions.
Meanwhile, the tech industry has been experiencing a <a href="https://www.benzinga.com/startups/24/02/37203455/google-lays-off-thousands-more-employees-despite-record-profits-one-year-after-laying-off-12-000-emp">wave of layoffs</a>, with companies like Google and Amazon also implementing significant workforce reductions. These layoffs have been attributed to a variety of factors, including <a href="https://www.benzinga.com/top-stories/24/04/38224570/amazon-ai-goals-to-impact-jobs-but-data-shows-tech-sector-layoffs-are-in-decline">cost-cutting measures</a> and shifts in business strategies.
Despite the challenges, Tesla has continued to <a href="https://www.benzinga.com/news/24/04/38244436/breaking-tesla-said-to-be-laying-off-over-14-000-employees">forge ahead with its </a>expansion plans. In April, the company announced that it would be laying off over 14,000 employees, reportedly to cut costs and eliminate duplicate roles. This move was seen as a response to the company&#8217;s disappointing quarterly performance and a way to streamline operations for future growth.
Read Next: <a href="https://www.benzinga.com/news/24/04/38230942/elon-musk-says-democrats-will-vote-against-trump-and-mike-johnsons-proposed-legislation-against-non?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Says Democrats Will &#8216;Vote Against&#8217; Trump And Mike Johnson&#8217;s Proposed Legislation Against Non-Citizen Voting: &#8216;Will Be Surprised If Even One Dem Votes For It&#8217;</a>
Image Via Shutterstock 
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Management

'The Street Wants and Needs Answers' From Elon Musk On Tesla Layoffs — Dan Ives Demands 'Rationale For The Cost Cutting'

Despite the endorsement of Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) by investment heavyweight BlackRock Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLK#NYSE">BLK</a>), skepticism about the cryptocurrency persists among many finance professionals.
What Happened: BlackRock&#8217;s acceptance of Bitcoin in 2023 marked a significant shift in the financial industry. However, at a recent Miami event, a number of investment professionals expressed reservations about the digital asset, <a href="https://www.coindesk.com/business/2024/04/15/there-are-many-bitcoin-critics-left-in-finance-despite-blackrocks-newfound-love/">reported</a> CoinDesk.
Mike Green, a portfolio manager at Simplify Asset Management said, &#8220;Bitcoin is just an extractive bubble.&#8221; Despite his stance, Simplify has launched two Bitcoin-exposed funds to meet client demand.
Other companies, including Vanguard and State Street, have yet to offer Bitcoin ETFs to their clients. Goldman Sachs, despite its involvement in BlackRock&#8217;s iShares Bitcoin Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBIT#NASDAQ">IBIT</a>), maintains that Bitcoin has no place in investment portfolios.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38241856/dogecoins-road-to-the-golden-cross-crypto-analyst-shares-his-take-on-bull-market-milestone?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Dogecoin&#8217;s Road To The Golden Cross, Crypto Analyst Shares His Take On &#8216;Bull Market Milestone&#8217;</a>
At the Miami conference, Kathryn Vera, chief strategist at Stone X Group, stated that Bitcoin will not become a reserve currency in her lifetime. Similarly, economist Peter Schiff dismissed Bitcoin as gambling money with no future use.
Despite the launch of 11 Bitcoin ETFs in the U.S., some asset managers are not yet considering the asset class as an investment. Green noted that his firm is not seeing much interest in Bitcoin from its clients, partly because it does not actively market the cryptocurrency.
Green also pointed out a lack of interest among his peers in understanding the technologies behind Bitcoin and other crypto assets. He suggested this is due to a lack of pressure from clients and the absence of negative impacts from expressing skepticism about the cryptocurrency.
Why It Matters: The skepticism voiced at the Miami event comes despite the recent surge in Bitcoin&#8217;s price. On the same day as the event, Bitcoin surpassed the $66,000 mark, emerging as the top gainer in <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38248683/bitcoin-surpasses-66-000-core-emerges-as-top-gainer">the cryptocurrency market</a>. This surge followed a sharp decline in the market due to Iran&#8217;s attack on Israel, which caused significant drops in major cryptocurrencies.
Renowned author Robert Kiyosaki also expressed his <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38215259/robert-kiyosaki-says-no-to-bitcoin-etfs-prefer-to-stay-as-far-away-from-wall-streets-finan">disinterest in Bitcoin ETFs</a>, favoring direct ownership of assets over Wall Street's financial products. He stated that he does not own gold or silver ETFs or REITS, real estate ETFS.
Price Action: Bitcoin is currently at $63,546, experiencing a 0.13% increase today and has risen by 43.86% year to date, according to the data <a href="https://pro.benzinga.com/dashboard">from Benzinga Pro</a>.
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38238575/iran-launches-drone-attack-on-israel-in-escalation-of-tensions-bitcoin-drops-sharply-in-re?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Iran Launches Drone Attack On Israel In Escalation Of Tensions, Bitcoin Drops Sharply In Response</a>
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IBIT

'Bitcoin Is Just An Extractive Bubble,' Says Portfolio Manager, As Blackrock's Acceptance Fails To Quell Finance Sector Critics

In a recent development, former President Donald Trump&#8217;s request to attend the Supreme Court arguments on presidential immunity has been rejected. This comes amidst his ongoing hush money trial in New York.
What Happened: The New York judge overseeing Trump&#8217;s trial has ruled that the former president cannot attend the Supreme Court&#8217;s oral arguments scheduled for April 25. This comes after Trump&#8217;s previous request to attend his son Barron&#8217;s high school graduation in May, which is still under consideration by the judge, <a href="https://thehill.com/regulation/court-battles/4595849-ny-judge-trump-supreme-court-presidential-immunity/">reported</a> The Hill.
The trial, taking place in Manhattan, is expected to last for several weeks or even months. New York state law mandates Trump&#8217;s presence throughout the trial unless the judge grants special permission.
See Also: <a href="https://www.benzinga.com/news/24/04/38240111/unlike-his-behavior-in-e-jean-carroll-case-donald-trump-is-going-to-have-sit-there-in-upcoming-crimi?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Unlike His Behavior In E. Jean Carroll Case, Donald Trump Is &#8216;Going To Have Sit There&#8217; In Upcoming Criminal Case, Says Ex-Prosecutor</a>
The Supreme Court hearing is related to a presidential immunity claim Trump is making in his federal criminal case. Trump, who faces 34 counts of falsifying business records related to a hush money payment, has pleaded not guilty and denies the affair.
After the day&#8217;s proceedings, Trump criticized Judge Juan Merchan, implying that the judge considers himself &#8220;superior&#8221; to the Supreme Court. He also accused Merchan of blocking him from attending his son&#8217;s graduation.
Jury selection for the trial is set to resume on Tuesday and could extend over several days or weeks.
Why It Matters: The trial revolves around <a href="https://www.benzinga.com/general/politics/24/04/38251447/trump-hush-money-trial-preview-key-witnesses-2024-campaign-impact-prison-time-trump-could-face-i">alleged hush money payments</a> made ahead of the 2016 election. The outcome of the trial could have significant implications for Trump&#8217;s potential 2024 campaign. 
On the first day of the trial, Trump argued &#8216;<a href="https://www.benzinga.com/general/politics/24/04/38261008/donald-trump-argues-political-prosecution-before-jury-selection-in-new-york-trial-judge-not-goin">Political Prosecution</a>&#8216; before the jury selection, as reported by Benzinga.
Read Next: <a href="https://www.benzinga.com/general/entertainment/24/04/38234990/jeff-bezos-fianc-e-lauren-s-nchez-turns-heads-at-white-house-state-dinner-in-2-3k-dress-but?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">White House Protocol Breach? Jeff Bezos&#8217; Fiancée Lauren Sánchez&#8217;s $2,300 Gown At State Dinner Sparks Debate</a>
Editor&#8217;s Note: The headline has been revised, and the reference to Trump being denied the opportunity to attend his son&#8217;s graduation by the judge overseeing the hush money trial has been removed.
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Politics

General

Trump's Request To Attend Supreme Court Hearing Denied By Hush Money Trial Judge

In a recent development, Liz Truss, the former British Prime Minister, has publicly endorsed Donald Trump for the U.S. presidency. Truss, known for her brief stint as the prime minister, criticized the current U.S. President, Joe Biden, for his lack of support towards the United Kingdom.
What Happened: Truss expressed her support for Trump during an interview with LBC. She stated, &#8220;It has to be&#8221; him in the White House after the upcoming election. Truss also criticized Biden, stating, &#8220;I don&#8217;t think Biden has been particularly supportive to the United Kingdom. I think he&#8217;s often on the side of the EU. And I certainly think I would like to see a new president in the White House,&#8221; <a href="https://www.politico.eu/article/liz-truss-say-donald-trump-has-to-win/">reported</a> Politico.
See Also: <a href="https://www.benzinga.com/news/24/04/38230942/elon-musk-says-democrats-will-vote-against-trump-and-mike-johnsons-proposed-legislation-against-non?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Says Democrats Will &#8216;Vote Against&#8217; Trump And Mike Johnson&#8217;s Proposed Legislation Against Non-Citizen Voting: &#8216;Will Be Surprised If Even One Dem Votes For It&#8217;</a>
Truss, whose conservative administration collapsed just weeks into her tenure in 2022, has previously hinted at her support for the former U.S. president. Last year, she wrote an op-ed in the Wall Street Journal expressing hope for a Republican return to the White House in 2024.
While promoting her new book on LBC, Truss praised Trump&#8217;s policies, stating they were &#8220;actually very effective.&#8221; She credited him for cutting regulation and taxes, liberating the U.S. energy supply, and preventing aggressive regimes from expanding.
Why It Matters: Truss&#8217;s endorsement of Trump comes after a brief and tumultuous tenure as the British Prime Minister. 
Truss resigned from her position <a href="https://www.benzinga.com/general/entertainment/22/10/29343677/lettuce-pray-for-the-uk-liz-truss-resigns-lasts-4-1-scaramuccis">after just 44 days in office</a>, a duration humorously referred to as 4.1 Scaramuccis, in reference to Anthony Scaramucci&#8217;s 10-day stint as White House communications director under the Trump Administration.
During Truss&#8217; brief tenure as Prime Minister, a DailyStar stream humorously juxtaposed her photo with a head of lettuce, questioning if she would remain in office longer than the lettuce&#8217;s shelf life. Truss holds the record for the shortest tenure of any U.K. Prime Minister, surpassing George Canning&#8217;s 119-day term in 1827.
Photo: Evan El-Amin/Shutterstock
Read Next: <a href="https://www.benzinga.com/news/24/04/38243808/bidens-job-approval-surge-nears-critical-level-for-sealing-2024-election-victory-but-this-key-concer?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Biden&#8217;s Job Approval Surge Nears Critical Level For Sealing 2024 Election Victory But This Key Concern Threatens To Derail His Bid: New Poll</a>
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 Benzinga Neuro, Edited by 
 
 <a href="None" target="_blank" rel="noopener" style="color: #225aa9;text-decoration: none"> 
 Shivdeep Dhaliwal</a> 
 
 
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Trump 'Has To' Win Says British PM That Couldn't Outlast A Head Of Lettuce

The Republican-led House has passed a series of bills aimed at financially pressuring Iran in response to a drone and missile attack on Israel.
What Happened: The House approved three bills under a fast-track process, which requires two-thirds support for passage. These bills primarily aim to impose financial penalties on Iran and its supporters, <a href="https://thehill.com/homenews/house/4596115-house-passes-series-of-bills-aimed-at-squeezing-tehran-financially/">reported</a> The Hill.
The legislation was passed in response to a massive Iranian aerial assault on Israel, which was repelled by Israel in partnership with the U.S., the U.K., France, and Middle Eastern allies.
The approved bills include a measure to terminate the tax-exempt status of nonprofit organizations supporting terrorist groups, a bill aimed at disrupting the Chinese purchase of Iranian oil and petroleum products, and an effort to prevent the Iranian government from using the U.S. financial system.
Despite the bills&#8217; largely noncontroversial nature and majority support from Democrats, criticism has been leveled at Republicans for their delay in bringing the Senate-passed $95 billion national security supplemental to a vote. This supplemental includes aid for Israel, Ukraine, and Taiwan.
Rep. Brad Schneider (D-Ill.) expressed support for the bill terminating the tax-exempt status of terrorist-supporting organizations, which he co-sponsored with Rep. David Kustoff (R-Tenn.). However, Schneider urged Republicans to bring the national security supplemental legislation to the floor.
See Also: <a href="https://www.benzinga.com/news/24/04/38240217/michael-cohen-suggests-public-will-be-surprised-by-bombshell-evidence-in-donald-trumps-hush-money-tr?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Michael Cohen Suggests Public Will Be Surprised By Bombshell Evidence In Donald Trump&#8217;s Hush Money Trial: &#8216;Headlines Do Not Necessarily Tell The Story&#8217;</a>
Why It Matters: The House&#8217;s decision comes in the wake of <a href="https://www.benzinga.com/news/24/04/38241324/slow-things-down-biden-tells-netanyahu-to-think-response-through-after-iran-missile-attack-on-israel">escalating tensions</a> in the Middle East. Following an Iranian missile attack on Israel, the Biden administration praised Israel&#8217;s successful defense and urged caution in any retaliatory actions. The U.S. reaffirmed its commitment to Israel&#8217;s defense, while also making it clear that it would not participate in any offensive Israeli response against Iran.
Israel&#8217;s war cabinet convened to <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38257564/israels-war-cabinet-vows-to-respond-clearly-and-forcefully-against-iran-g7-mulls-sanctions">deliberate their nation&#8217;s response</a>, causing shockwaves through markets. Stocks sharply flipped to the red on headlines that Israel is mulling a retaliatory move against Iran, while gold surged sharply amid rising safe haven demand.
The United States warned Iran of <a href="https://www.benzinga.com/news/24/04/38241201/iran-issued-stern-warning-by-deputy-ambassador-on-further-actions-against-israel-us-will-be-held-res">serious consequences</a> if it continues to act against the US, Israel, or their allies. Robert Wood, the US Deputy Ambassador to the United Nations, strongly condemned Iran's recent attack on Israel.
Read Next: <a href="https://www.benzinga.com/news/24/04/38243808/bidens-job-approval-surge-nears-critical-level-for-sealing-2024-election-victory-but-this-key-concer?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Biden&#8217;s Job Approval Surge Nears Critical Level For Sealing 2024 Election Victory But This Key Concern Threatens To Derail His Bid: New Poll</a>
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 Shivdeep Dhaliwal</a> 
 
 
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 extensive Benzinga Ecosystem, including native data, APIs, and more to 
 create comprehensive and timely stories for you. 
 <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noopener" style="color: #225aa9;text-decoration: none">Learn more.</a>
 
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Tuesday, June 28, 2016