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The fund is a fund of funds and employs an indexing investment approach designed to track the performance of the Bloomberg Barclays U.S. Corporate Bond Index, which measures the investment-grade, fixed-rate, taxable corporate bond market. The index includes U.S. dollar-denominated securities that are publicly issued by industrial, utility, and financial issuers.

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In a significant leadership reshuffle, TikTok&#8216;s head of global marketing Kate Jhaveri is exiting the company, <a href="https://www.benzinga.com/news/23/03/31504452/despite-the-controversy-surrounding-tiktok-young-americans-love-chinese-apps-heres-why">as per an internal memo</a>.
What Happened: TikTok is discontinuing Jhaveri&#8217;s role. Starting Monday, all members of TikTok&#8217;s global brand and communications division will report directly to Zenia Mucha.
In the memo, as reported <a href="https://www.businessinsider.com/tiktok-marketing-head-is-out-in-leadership-shake-up-2024-9">by</a> Business Insider, Mucha revealed that she and Jhaveri had been in talks about restructuring the marketing function to establish a more unified organization. The decision was reached to dissolve the head of global marketing position and consolidate the Global Brand &amp; Comms team under a single leader.
&#8220;Kate Jhaveri and I have had ongoing discussions about our marketing strategy and how best to structure the marketing function to create a more cohesive organization designed to better meet the needs of the business and our cross-functional partners. Together, we decided the best way to achieve this vision is to remove the head of global marketing role, and bring everyone within Global Brand &amp; Comms under one leader,&#8221; according to the outlet Mucha wrote to the employeers. 
Also Read: <a href="https://www.benzinga.com/news/24/09/40866761/is-amazon-eyeing-tiktok-for-a-possible-acquisition">Is Amazon Eyeing TikTok For A Possible Acquisition?</a>
Before this, Mucha had a 19-year tenure as Disney&#8217;s chief communications officer, while Jhaveri had served as chief marketing officer at the NBA and Twitch. Zuber Mohammed, who is under Mucha, will now be in charge of consumer marketing, product marketing, and user communications.
The alterations, initially reported by The Information, will be effective from Monday. This reshuffle follows numerous significant organizational changes at TikTok, including layoffs and the departure of its former vice president of global communications, Hilary McQuaide.
Why It Matters: The brand and communications team is currently engaged in a legal battle with the U.S. government over a divest-or-ban law enacted in April, arguing that it infringes on the First Amendment rights of 170 million Americans.
This leadership shake-up could potentially impact the direction and outcome of this ongoing dispute.
Read Next
<a href="https://www.benzinga.com/news/24/04/38346514/elon-musk-voices-opposition-to-potential-tiktok-ban-it-is-not-what-america-stands-for" target="_blank" rel="noreferrer noopener">Elon Musk Voices Opposition To Potential TikTok Ban: ‘It Is Not What America Stands For'</a>
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Social Media

Tech

TikTok Global Marketing Chief Resigns Amid Major Overhaul – Here's What The Leaked Memo Says

Electric vehicle stocks finished the week ended Sept. 20 on a mixed note despite the <a href="https://www.benzinga.com/news/earnings/24/09/40954521/wall-street-looks-to-pause-after-s-ps-record-performance-as-fed-rate-cut-euphoria-fades-and-hard-la">positive performance by the broader market</a>. Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) rose to its highest level since late July amid some positive catalysts.
Here&#8217;s a rundown on what happened in the EV space during the week:
Tesla China, Europe Sales: China weekly vehicle insurance data from China showed 15,600 insured registrations for Tesla vehicles in the week of Sept 9-15, CnEVPost <a href="https://cnevpost.com/2024/09/19/china-ev-insurance-registrations-week-ending-sept-15-2024/">reported</a>, citing data from Li Auto, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LI#NASDAQ">LI</a>). Commenting on the data, fund manager Gary Black said after 11 weeks into the quarter, with only two weeks left, Tesla&#8217;s China third-quarter registrations are on track for their best quarter ever. Quarter-to-date period, the number was up 20% year-over-year and 26% higher than in the first quarter, he added.
On the flipside, data released by European Automobile Manufacturers Association&nbsp;showed that Tesla volumes in Europe dropped 36% year-over-year to 21,701 vehicles in August. &#8220;The electric car market is now on a continual downward trajectory,&#8221; the ACEA said in a statement.
Rivian Launches Tri-Motor RT1 EVS: EV startup Rivian Automotive, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>) has begun shipping new R1S and R1T vehicles with triple-motor powertrains. The 2025 model R1T and R1S EVs launched earlier this year rolled out with dual motors. The new Max battery pack is placed between the front and rear motors, and the tri-motor version has a range of 405 miles in conserve mode or 371 miles for all-purpose driving. This version has a starting price of $99,900.
See Also: <a href="https://www.benzinga.com/money/best-electric-vehicle-stocks">Best EV Stocks</a>
Nio Launches Onvo L60: Chinese EV maker Nio, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NIO#NYSE">NIO</a>) on Wednesday officially launched the L60, the first model of the Onvo mass-market brand, in Hefei, Anhui province. The Onvo L60, a mid-size SUV <a href="https://www.benzinga.com/markets/equities/24/06/39511884/nios-upcoming-onvo-l60-reportedly-shows-striking-similarities-to-tesla-models-in-spy-shots">pitched as a Model Y rival, </a>has a starting price of 206,900 yuan (around $29,300) including the battery pack. If the EV is purchased with Nio&#8217;s battery-as-a-service, the price would be as cheap as 149,900 yuan. Deliveries are set to begin Sept. 28.
Faraday Future Announces Second Brand: Struggling upstart Faraday Future Intelligent Electric Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FFIE#NASDAQ">FFIE</a>) announced a second brand, namely Faraday X and the first vehicles of the brand, dubbed FX5, with an estimated price range of 20,000-$30,000, and FX 6, with an expected price range of $30,000-$50,000, will likely come with range-extended AIEV and battery-electric AIEV. The company plans to start production by the end of 2025, subject to securing necessary funding.
Hyzon Starts Class 8 200kW Hydrogen Truck Production: Hyzon Motors, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HYZN#NASDAQ">HYZN</a>) announced the start of production of its Class 8 200 kilowatt fuel-cell electric truck. It &#8220;marks the beginning of a new chapter for &#8216;hard-to-decarbonize&#8217; heavy-duty industries, as Hyzon sets the standard for high-performance, zero-emission alternatives to diesel,&#8221; said Hyzon Chief Executive Officer Parker Meeks. The Class 8 200kW FCET features a single stack 200kW fuel cell system, which is 30% lighter and smaller, and 25% more cost-efficient than using two 110kW systems combined, the company said.
The KraneShares Electric Vehicles and Future Mobility&nbsp;Index ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KARS#NYSE">KARS</a>) fell 1.58% on Friday before ending at $19.32, according to <a href="https://benzinga.grsm.io/lxquj26b2sag">Benzinga Pro data</a>. For the week, the ETF , however, slipped 0.31%.
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="http://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:
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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40932786/tesla-bull-explains-why-elon-musks-xai-is-critical-to-ev-makers-autonomous-ambition">Tesla Bull Explains Why Elon Musk&#8217;s xAI Is Critical To EV Maker&#8217;s Autonomous Ambitions</a></li>
</ul>
Here&#8217;s how the EV stocks fared this week:
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td></td>
<td>Weekly Change (+/-)</td>
</tr>
<tr>
<td>Tesla</td>
<td>+3.46%</td>
</tr>
<tr>
<td>Nio</td>
<td>-4.87%</td>
</tr>
<tr>
<td>XPeng, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPEV#NYSE">XPEV</a>)</td>
<td>+7.02%</td>
</tr>
<tr>
<td>Li Auto, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LI#NASDAQ">LI</a>)</td>
<td>+12.66%</td>
</tr>
<tr>
<td>Workhorse, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WKHS#NASDAQ">WKHS</a>)</td>
<td>+7.59%</td>
</tr>
<tr>
<td>Hyzon Motors</td>
<td>+1.33%</td>
</tr>
<tr>
<td>Canoo, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOEV#NASDAQ">GOEV</a>)</td>
<td>-19.20%</td>
</tr>
<tr>
<td>Rivian </td>
<td>-13.26%</td>
</tr>
<tr>
<td>Lucid Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LCID#NASDAQ">LCID</a>)</td>
<td>-11.42%</td>
</tr>
<tr>
<td>Faraday Future </td>
<td>-15.54%</td>
</tr>
<tr>
<td>Nikola Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NKLA#NASDAQ">NKLA</a>)</td>
<td>-6.85%</td>
</tr>
<tr>
<td>VinFast Auto Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VFS#NASDAQ">VFS</a>)</td>
<td>-7.58%</td>
</tr>
</tbody>
</table>
</figure>

Equities

FFIE

GOEV

HYZN

KARS

LCID

NKLA

RIVN

TSLA

WKHS

XPEV

Tesla A Tale Of 2 Regions, Rivian Unleashes More Powerful R1 Variants, Nio Aims Sales Surge With Low-End Model And More: Biggest EV Stories Of The Week

Trying to find&nbsp;love&nbsp;in an increasingly digital&nbsp;world has led many to&nbsp;experiment&nbsp;with&nbsp;online dating, but endless scrolling of profiles and pictures can leave some feeling&nbsp;hopeless.
One woman decided to post an ad on Craigslist offering to pay someone to pretend to be&nbsp;her and set up dates. An editor&nbsp;looking for a second income stream decided to take on the&nbsp;<a href="https://www.benzinga.com/topic/dating-apps">matchmaking challenge</a>.&nbsp;
What To Know:&nbsp;In 2019,&nbsp;Gili Malinsky&nbsp;was making $58,000 per year working as an editor for a media company in New York. She had several thousand dollars in student loan debt and was up against a large tax bill, so she started looking for a&nbsp;<a href="https://www.benzinga.com/money/how-to-make-passive-income">second source of income</a>.&nbsp;
It wasn&#8217;t long before&nbsp;she stumbled upon a Craigslist ad, unlike anything she had ever seen before.
It said, &#8220;Help me find love online,&#8221;&nbsp;Mailnsky recalled in a<a href="https://www.cnbc.com/2023/04/28/strange-side-hustle-i-helped-someone-match-on-bumble-okcupid.html">&nbsp;piece</a>&nbsp;she wrote for CNBC&#8217;s Make It.&nbsp;
&#8220;I will give you access to my accounts. You will facilitate some dates with guys who have all their teeth, a job and some other criteria I'll tell you about later,&#8221; the description of the ad&nbsp;read.&nbsp;
Check This Out: <a href="https://www.benzinga.com/news/23/04/31868430/from-lineman-to-laundromat-millionaire-how-craigslist-and-clothes-cleaning-changed-this-mans-life">From Lineman To &#8216;Laundromat Millionaire&#8217;: How Craigslist And Clothes Cleaning Changed This Man&#8217;s Life</a>
The woman was offering $25 per hour or a flat rate per date if that was preferred, and that was enough for Malinsky to respond to the ad.
&#8220;I couldn't believe it. This gig actually sounded fun,&#8221; she said.&nbsp;
They set up a Skype call and then met up for drinks to talk details the following day. Malinksy planned to search&nbsp;for quality date candidates on&nbsp;<a href="https://www.benzinga.com/topic/dating-apps">apps</a>&nbsp;like&nbsp;Bumble Inc&nbsp;(NASDAQ:&nbsp;<a href="https://www.benzinga.com/stock/bmbl#NASDAQ">BMBL</a>) and&nbsp;IAC Inc&#8217;s&nbsp;(NASDAQ:&nbsp;<a href="https://www.benzinga.com/stock/iac#NASDAQ">IAC</a>)&nbsp;<a href="https://www.benzinga.com/money/best-dating-sites-and-apps">OkCupid</a>, chat with the guys and hope to set up dates.&nbsp;
She was offered an&nbsp;upfront payment of $100, and they agreed that she would be paid $150 for each date she successfully planned.&nbsp;
Everything went wrong from there, for Malinsky anyway. She spent at least 20 hours chatting with dozens of guys over the next three weeks and found it &#8220;bizarre&#8221; to pose as someone else.&nbsp;
The woman who posted the ad ended up being very picky — so selective that she didn&#8217;t actually agree to go on any dates. Malinksy would filter through guys to find good options, but the woman she was pretending to be would find something wrong with all of them. 
In the end, Malinksy never saw another dime beyond the initial $100 she was paid to <a href="https://www.benzinga.com/news/23/03/31445243/4-brain-hacks-to-supercharge-your-success">start her search efforts</a>.
She did reach back out to the woman who posted the ad to see how she was doing after some time had passed and it turned out that she had&nbsp;reconnected with one of her old matches on&nbsp;Match Group&nbsp;Inc&#8217;s&nbsp;(NASDAQ:&nbsp;<a href="https://www.benzinga.com/stock/mtch#NASDAQ">MTCH</a>) Tinder.&nbsp;
&#8220;Dreams DO come true,&#8221; she told Malinksy.&nbsp;
Read Next: 
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<li><a href="https://www.benzinga.com/news/23/04/32100082/heres-how-this-31-year-old-makes-105-000-a-month-by-only-working-2-hours-a-day">Here&#8217;s How This 31-Year-Old Makes $105,000 A Month By Only Working 2 Hours A Day</a></li>
</ul>
Photo: <a href="https://pixabay.com/users/athree23-6195572/?utm_source=link-attribution&amp;utm_medium=referral&amp;utm_campaign=image&amp;utm_content=3698156">Adrian</a> from Pixabay.
Some elements of this story were previously reported by Benzinga and it has been updated.

General

BMBL

MTCH

Matchmaking For Hire: The Online Dating Side Hustle That Went Nowhere — 'I Couldn't Believe It'

This week, federal prosecutors announced the arrest of two individuals accused of stealing $230 million in cryptocurrency. The stolen funds were allegedly used to finance a lavish lifestyle.
What Happened: Malone Lam, 20, and Jeandiel Serrano, 21, are believed to have stolen the cryptocurrency from a person in Washington, D.C., in August.
According to the U.S. Attorney's Office for the District of Columbia, the stolen funds were laundered through various exchanges and mixing services, <a href="https://www.nytimes.com/2024/09/20/us/crypto-fraud-arrests.html">reports</a> The New York Times. 
The suspects reportedly concealed their theft by distributing the money across several cryptocurrency exchanges and mixing services, before embarking on a spending spree. 
Lam, a Singaporean citizen who used aliases including "Anne Hathaway," and Serrano, known as "VersaceGod,&#8221; were apprehended by the F.B.I. on Wednesday.
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/01/36525844/north-korean-hackers-swiped-600-million-worth-of-crypto-in-2023-expected-to-carry-out-more">North Korean Hackers Swiped $600 Million Worth Of Crypto In 2023, Expected To Carry Out More Attacks</a>
An indictment was unsealed last week charging Lam and Serrano with conspiracy to commit wire fraud and money laundering. The indictment did not disclose how the two men gained access to the victim&#8217;s funds, only stating that they had &#8220;engaged in digital communications&#8221; with the victim, reports the outlet.
Lam&#8217;s lawyer Diego Weiner declared his intention to "vigorously defend" his client and requested that Lam be "presumed innocent" until proven guilty. Serrano's lawyer could not be immediately reached for comment.
The U.S. attorney's office has not yet responded to requests for more details regarding the case. The investigation is ongoing.
Why It Matters: This case underscores the growing concern over the security of digital assets. As cryptocurrency becomes more mainstream, it has also become a target for cybercriminals. 
This incident serves as a stark reminder of the risks associated with cryptocurrency transactions and the need for enhanced security measures in the digital currency space.
Read Next
<a href="https://www.benzinga.com/markets/cryptocurrency/23/04/32100171/bitcoin-thief-who-stole-nearly-5-million-and-was-photographed-in-cash-filled-bathtub-gets-" target="_blank" rel="noreferrer noopener">Bitcoin Thief Who Stole Nearly $5 Million And Was Photographed In Cash-Filled Bathtub Gets 4 Years In Prison</a>
This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

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

Cryptocurrency

Massive Crypto Heist: Here's How Two Suspects Were Nabbed In $230M Theft

<a href="https://www.benzinga.com/personal-finance/24/08/40635115/new-ad-claims-harris-can-tackle-inflation-and-housing-by-building-3-million-homes">Kamala Harris</a>, the U.S. Democratic candidate, made headlines Tuesday when she told a group of Black journalists that, if elected president, she plans to work with private investors to address the nation's growing housing crisis.&nbsp;
Speaking at a forum organized by the National Association of Black journalists (NABJ) in Philadelphia, Harris acknowledged Americans&#8217; immense pressure regarding housing costs.
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"We have a shortage of housing supply and it's too expensive," Harris told the audience of about 180 people. "One of the big issues that affects people right now in terms of the economy and their well-being is the cost of housing."
During the discussion, Harris emphasized that the solution would require collaboration between the government and the private sector. The goal? To increase housing availability and drive down costs for everyday Americans.&nbsp;
Trending: Warren Buffett once said, "If you don't find a way to make money while you sleep, you will work until you die." <a href="https://www.benzinga.com/money/connect-invest-real-estate-notes">These high-yield real estate notes that pay 7.5% &#8211; 9% make earning passive income easier than ever.</a>
While she laid out this plan, Harris also doubled down on another economic promise: expanding the child tax credit to $6,000 and ensuring that no family pays more than 7% of their income on child care.
Though the event covered a range of economic issues, housing took center stage. Harris clarified that, while boosting the housing supply was critical, more work would be needed to address skyrocketing prices that continue to put homeownership out of reach for many.
Trending: A billion-dollar investment strategy with minimums as low as $10 —<a href="https://www.benzinga.com/money/fundrise-flagship-fund"> you can become part of the next big real estate boom today.</a>
This appearance was especially significant, as Harris had skipped NABJ's annual convention in July, where her Republican opponent,<a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40734266/trump-promised-to-turn-the-u-s-into-the-crypto-capital-of-the-world-but-did-he-actually-fo"> Donald Trump</a>, made a controversial appearance.
At that event, Trump faced backlash for questioning Harris' Black identity and for his treatment of one of the moderators during the interview. Despite the heated exchange, Trump's campaign is attempting to court Black voters – traditionally a Democratic stronghold.
Historically, Black voters have leaned heavily toward Democratic candidates. In the 2020 election, 92% of Black voters voted for Joe Biden over Trump, according to Pew Research Center data. And according to a recent NAACP survey, most Black voters – 63% – still plan to back Harris in the upcoming election, while only 13% support Trump.
Trending: Commercial real estate has historically outperformed the stock market, and<a href="https://www.benzinga.com/money/marcus-millichap-backed-platform-makes-it-easy-to-invest-in-real-estate"> this platform allows individuals to invest in commercial real estate with as little as $5,000 offering a 12% target yield with a bonus 1% return boost today!</a>
However, cracks are beginning to show in the Democratic Party's support among Black voters, especially younger men. More than a quarter of Black men under 45 are leaning toward Trump this election, according to the NAACP poll.
"Black men are like any other voting group," Harris said in response. "You gotta earn their vote."
The NABJ interview, like Trump's before it, was conducted by three organization members, including reporters from TheGrio and Politico and a local radio anchor.&nbsp;
Both candidates have been making moves to secure the support of Black voters – a key demographic in battleground states like Pennsylvania and Georgia.
See Also: This Jeff Bezos-backed startup will allow you to<a href="https://www.benzinga.com/money/bezos-landlord-100-dollars"> become a landlord in just 10 minutes, and you only need $100</a>.
With Election Day drawing closer, Harris and Trump are focusing on these swing states, where Black voters could tip the scales. Georgia, in particular, has the highest proportion of Black voters among the seven battleground states and the race there is expected to be fiercely competitive.
While Harris' campaign has ignited enthusiasm, questions remain about the specifics of her policies, especially on issues like education, criminal justice and the economy – topics especially important to Black voters.
Trump, meanwhile, continues to face challenges of his own in wooing Black voters, given his past inflammatory remarks and accusations that Republican-backed voting laws are designed to suppress Black voter turnout. Republicans, however, deny that any of their policies are intended to restrict voting.
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<li>Elon Musk and Jeff Bezos are bullish on one city that could dethrone New York and become the new financial capital of the US.<a href="https://www.benzinga.com/money/miami-take-new-yorks-place-financial-capital"> Investing in its booming real estate market has never been more accessible.</a></li>
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Real Estate

Harris Partners with Big Money Backers to Boost America's Housing Supply – Will It Be Enough to Solve the Growing Crisis?

Benzinga examined the prospects for<a href="http://www.benzinga.com/trading-ideas"> many investors&#8217; favorite stocks</a> over the last week — here&#8217;s a look at some of our top stories.
The three major averages posted weekly gains, with the S&amp;P 500 rising 1.36% and up over 19% for 2024, while the Dow gained 1.62% and the Nasdaq advanced 1.49%. 
The Federal Reserve cut interest rates by 50 basis points in September, surprising many economists who expected a smaller 25-basis-point reduction. 
Fed Chair Jerome Powell emphasized the need to act early to support the labor market, noting that strong employment requires proactive measures. While hinting at potential future cuts, Powell framed this move as a recalibration rather than a broader policy shift, <a href="https://www.benzinga.com/markets/equities/24/09/40965372/fed-delivers-large-interest-rate-cut-in-bid-to-sustain-labor-market-stocks-gold-set-new-record-h">stressing data-driven decision-making.</a>
Benzinga provides daily reports on the stocks most popular with investors. Here are a few of this past week&#8217;s most bullish and bearish posts that are worth another look.
<h3 class="wp-block-heading">The Bulls</h3>
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40892076/palantir-key-enabler-of-clients-businesses-says-bullish-analyst-as-ceo-alex-karp-to">&#8220;Palantir &#8216;Key Enabler&#8217; Of Clients&#8217; Businesses, Says Bullish Analyst, As CEO Alex Karp Touts 10-Fold Growth From Current Levels,&#8221;</a> by <a href="https://www.benzinga.com/author/shanthi-rexaline">Shanthi Rexaline</a>, highlights Palantir Technologies Inc&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>) potential tenfold growth as CEO Alex Karp emphasizes the company&#8217;s role in accelerating client success, with BofA Securities maintaining a bullish outlook and a $50 price target.
<a href="https://www.benzinga.com/markets/equities/24/09/40906505/walmart-division-sams-club-raises-wages-for-hourly-associates-a-strategic-move-to-stay-ahead-in-">&#8220;Walmart Division Sam&#8217;s Club Raises Wages For Hourly Associates: A Strategic Move To Stay Ahead In Retail,&#8221;</a> by <a href="https://www.benzinga.com/author/anusuya-lahiri-0">Anusuya Lahiri</a>, details Walmart Inc.&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>) Sam&#8217;s Club wage increase for nearly 100,000 frontline workers, with hourly pay rising 3%-6% as part of a strategy to enhance worker retention and performance.
"<a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40921872/dogecoin-will-outperform-bitcoin-in-2025-vows-trader-heres-what-the-follower-effect-means">Dogecoin Will Outperform Bitcoin In 2025, Vows Trader: Here&#8217;s What The &#8216;Follower Effect&#8217; Means,&#8221;</a> by <a href="https://www.benzinga.com/author/khyathi-dalal">Khyathi Dalal</a>, shares a crypto trader&#8217;s belief that Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) will outperform Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) in 2025, benefiting from its rapid growth and leveraging Bitcoin's trajectory via the &#8220;follower effect.&#8221;
For additional bullish calls of the past week, check out the following:
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40898388/qualcomm-analyst-sees-opportunity-in-regaining-share-with-samsung-after-apple-reven">Qualcomm Analyst Sees Opportunity In &#8216;Regaining Share With Samsung&#8217; After Apple Revenue Squeeze</a>
<a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40930553/microstrategy-2x-leveraged-inverse-etfs-are-here-offer-unparalleled-access-to-microstrateg">MicroStrategy 2X Leveraged, Inverse ETFs Are Here, Offer &#8216;Unparalleled Access To MicroStrategy&#8217;s Bitcoin Exposure&#8217;</a>
<a href="https://www.benzinga.com/m-a/24/09/40926078/nvidia-considers-165m-octoai-acquisition-aims-to-strengthen-ai-and-cloud-dominance">Nvidia Considers $165M OctoAI Acquisition, Aims to Strengthen AI and Cloud Dominance</a>
The Bears
<a href="https://www.benzinga.com/tech/24/09/40930388/apple-iphone-16-pre-orders-show-possible-low-demand-one-sign-could-point-to-company-breaking-this-em">&#8220;Apple iPhone 16 Pre-Orders Show Possible Low Demand, One Sign Could Point To Company Break With This Employee Rule,&#8221;</a> by <a href="https://www.benzinga.com/author/chris-katje">Chris Katje</a>, highlights concerns over weaker-than-expected demand for Apple Inc&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) iPhone 16, with an analyst citing early pre-order data of 37 million units and employee discounts available unusually early as potential warning signs.
"<a href="https://www.benzinga.com/trading-ideas/technicals/24/09/40942441/stock-of-the-day-home-depot-agrees-to-settlement-while-overbought-signals-warn-of-potent">Home Depot Agrees To Settlement, While Overbought Signals Warn Of Potential Sell-Off</a>," by <a href="https://www.benzinga.com/author/mark-putrino">Mark Putrino</a>, reports on Home Depot Inc&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HD#NYSE">HD</a>) nearly $2 million settlement for overcharging allegations. At the same time, technical indicators suggest the stock may face a sell-off due to overbought conditions.
"<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40955933/brace-for-stagflation-after-feds-benevolence-warns-analyst-raising-5-corporate-red-">Brace For Stagflation After Fed&#8217;s Benevolence, Warns Analyst, Raising 5 Corporate Red Flags: &#8216;Inflation Is Transitory Mistake All Over Again&#8217;</a>," by <a href="https://www.benzinga.com/author/shanthi-rexaline">Shanthi Rexaline</a>, discusses Gordon Johnson&#8216;s warning that the Federal Reserve&#8216;s recent rate cuts could lead to stagflation, citing downturns at Skechers U.S.A., Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SKX#NYSE">SKX</a>) and FedEx Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDX#NYSE">FDX</a>) as red flags.
For more bearish takes, be sure to see these posts:
<a href="https://www.benzinga.com/general/social-media/24/09/40943414/donald-trump-can-cash-out-his-trump-media-technology-stock-keep-company-control-heres-how-ma">Donald Trump Can Cash Out His Trump Media &amp; Technology Stock, Keep Company Control: Here&#8217;s How Many Shares He Owns</a>
<a href="https://www.benzinga.com/personal-finance/financial-advisors/24/09/40943386/mass-slaughter-wealth-manager-warns-of-market-correction-digital-disruption-a">&#8216;Mass Slaughter&#8217;: Wealth Manager Warns Of Market Correction, Digital Disruption As ETF, Passive Investing Goes Up And To The Right</a>
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40959748/exclusive-options-expert-warns-of-terrible-week-after-fridays-triple-witching">EXCLUSIVE: Options Expert Warns Of &#8216;Terrible Week&#8217; After Friday&#8217;s Triple Witching</a>
Keep up with all the latest breaking news and trading ideas by following<a href="https://twitter.com/Benzinga"> Benzinga</a><a href="http://twitter.com/Benzinga"> on Twitter</a>.
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Short Ideas

$BTC

$DOGE

AAPL

PLTR

Benzinga Bulls And Bears: Apple, Palantir, Walmart, Home Depot — And An Analyst Predicts Dogecoin Will Outperform Bitcoin In 2025

As the possibility of a Kamala Harris presidency looms, high-income earners across the country are increasingly concerned about how potential changes to tax policy might affect their finances.
While wealthy people nationwide could feel the impact, experts suggest that residents of certain states may <a href="https://www.benzinga.com/24/09/40869582/kevin-oleary-warns-of-economic-impact-from-kamala-harris-tax-plans">bear the brunt of the changes</a>.
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Cliff Ambrose, founder and wealth manager at Apex Wealth, said that states already saddled with high taxes, such as California and New York, could see the most significant financial hits.
Similarly, Anthony DeLuca, a financial planner at Annuity.org, warns that high-tax and tax-friendly states could face shifts, particularly if federal tax increases are implemented.
Trending: Elon Musk and Jeff Bezos are bullish on one city that could dethrone New York and become the new financial capital of the US.<a href="https://www.benzinga.com/money/miami-take-new-yorks-place-financial-capital"> Investing in its booming real estate market has never been more accessible.</a>
"<a href="https://www.benzinga.com/general/politics/24/08/40424431/harris-warns-trump-tax-plan-will-devastate-americans-vows-to-go-after-bad-actors-behind-food-pri">If Kamala Harris wins</a>, states like California and New York are likely to see upper-class paychecks take a hit," Ambrose told GOBankingRates. "Both states already have high state income taxes and Harris's proposed tax increases on higher earners could further reduce take-home pay for the wealthy."
DeLuca agrees, emphasizing that any state with a state income tax will become more burdensome to upper-class members.
Trending: A billion-dollar investment strategy with minimums as low as $10 —<a href="https://www.benzinga.com/money/fundrise-flagship-fund"> you can become part of the next big real estate boom today.</a>
He pointed to New York in particular, where people might face "a 43.9% federal-state capital gains tax" if Harris wins. DeLuca also noted that New York and California are home to the most S&amp;P 500 headquarters, suggesting that the concentrations of major corporations in high-tax states could have wider economic consequences.
States without income taxes may not escape the impact of potential changes.
"In states like Florida, which doesn't have a state income tax, the impact could come from federal tax increases rather than state-level changes," Ambrose said.
That suggests even upper-class residents in tax-friendly states could see changes in their paychecks due to possible shifts in federal tax policy.
Trending: Warren Buffett once said, "If you don't find a way to make money while you sleep, you will work until you die." <a href="https://www.benzinga.com/money/connect-invest-real-estate-notes">These high-yield real estate notes that pay 7.5% &#8211; 9% make earning passive income easier than ever.</a>
DeLuca also highlighted New Jersey and Massachusetts as states where upper-class incomes could be significantly impacted. He noted that these states, along with New York and California, "will rise above the 40% mark" in combined federal and state tax rates for high-income earners.
While much attention is on income and capital gains taxes, DeLuca highlighted another critical factor: energy policy. States heavily reliant on fossil fuel industries could experience economic shifts under a Harris administration.
"Wyoming produces 41% of U.S. coal production," he said. "Any employer or family business grounded in this industry would be at serious risk from [Harris's] economic and energy administration ideas."
Trending: Will the surge continue or decline on real estate prices?<a href="https://www.benzinga.com/money/realbricks"> People are finding out about risk-free real estate investing that lets you cash out whenever you want.</a>
DeLuca also mentioned New Mexico, which accounted for 13% of U.S. crude oil production in 2022, could face challenges if funding shifts toward alternative energy sources.
Understanding the potential changes under a Harris administration involves recognizing they are part of a larger policy agenda. Harris's proposed tax increases on high earners aim to fund programs like health care and infrastructure, potentially impacting the broader economy.
See Also: This Jeff Bezos-backed startup will allow you to<a href="https://www.benzinga.com/money/bezos-landlord-100-dollars"> become a landlord in just 10 minutes, and you only need $100</a>.
DeLuca emphasized that many states poised for the most substantial effects on upper-class paychecks are also key national gross domestic product players. This highlights the complex relationship between tax policy, economic growth and income distribution.
It's important to remember that campaign proposals are just that – proposals. They don't always become law as envisioned, as any legislative changes must navigate the complexities of Congress.
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Wealthy Residents In These States Could Feel The Tax Pinch If Harris Wins – Is Yours On The List?

New York's chief equity officer at the Office of Cannabis Management (OCM), Damian Fagon, resigned from his post, effective Nov. 27, despite being cleared of <a href="https://www.benzinga.com/markets/cannabis/24/01/36810304/lawsuit-alleges-bias-in-new-york-cannabis-equity-program-lawyer-slams-absurd-and-offensive-claim">retaliation allegations.</a>
<a href="https://greenmarketreport.com/new-york-cannabis-chief-equity-officer-resigns-following-exoneration-from-retaliation-allegations/?utm_source=Sailthru&amp;utm_medium=email&amp;utm_campaign=Newsletter-BreakingNews-20240920">According</a> to GreenMarketReport, This decision follows months of controversy, beginning with his administrative leave in March after cannabis processor Jenny Argie accused Fagon of retaliating against her company.
See Also: <a href="https://www.benzinga.com/markets/cannabis/24/07/39987805/new-yorkers-in-a-bind-as-top-shelf-cannabis-supply-falls-short-could-home-cultivation-help">New Yorkers In A Bind As Top-Shelf Cannabis Supply Falls Short, Could Home Cultivation Help?</a>
Argie withdrew the lawsuit in July, which claimed that Fagon instigated a product recall after she criticized the OCM.
<h3 class="wp-block-heading">Exoneration And Transition</h3>
An investigation by the state's inspector general found no merit to the accusations. In an email statement on Friday, OCM acting executive director Felicia Reid confirmed that the inspector general's office had exonerated Fagon. Despite his clearance, Fagon opted to move on from the department.
&#8220;Mr. Fagon will be on leave and will focus solely on transitioning his equity portfolio to OCM leadership. This announcement comes after the conclusion of the NYS Inspector General investigation, which resulted in a determination that the allegations were unsubstantiated,&#8221; Reid said. 
&#8220;I know that Mr. Fagon has done tremendous work leading OCM's equity efforts, setting up OCM to take the most innovative and equity-driven approach to the development of New York's cannabis industry. I am thankful to him for his time and talent. I wish him well and great success in his future endeavors,&#8221; Reid added.
Fagon significantly spearheaded New York&#8217;s cannabis equity program, working to ensure that marginalized communities, disproportionately impacted by previous marijuana laws, were included in the industry's growth.
<h3 class="wp-block-heading">OCM Leadership In Flux</h3>
The OCM itself is undergoing significant leadership changes. Fagon's resignation comes on the heels of former executive director Chris Alexander's departure in May, with Reid serving as interim executive director following an appointment by Governor Kathy Hochul.
OCM is actively searching for a permanent replacement for Alexander, but how the equity program will move forward without Fagon at the helm remains uncertain.
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Cover image made with AI.

Cannabis

New York's Beleaguered Cannabis Equity Officer Resigns After Being Cleared Of Retaliation Claims

In an unprecedented move for collegiate sports sponsorships, the California-based cannabis brand Cookies has secured a three-year partnership with the University of Southern California (USC), marking the first time a cannabis company has officially sponsored an NCAA team. The deal positions Cookies' branding on USC merchandise and throughout the iconic Coliseum during games as a bold move for the university and the <a href="http://benzinga.com/cannabis">cannabis industry</a> at large.
<h3 class="wp-block-heading">Cookies' CBD Products Pioneering NCAA Entry</h3>
As <a href="https://www.sfgate.com/cannabis/article/usc-cookies-pot-deal-19763233.php">reported</a> by Lester Black in SFGATE, Cookies&#8217; entry into NCAA sponsorship was spearheaded by its founder and CEO, Gilbert &#8220;Berner&#8221; Milam Jr., who noted that the deal is an improbable milestone achieved amidst stringent advertising restrictions faced by cannabis companies across major platforms. The NCAA, <a href="https://www.benzinga.com/markets/cannabis/22/02/25848060/ncaa-announces-more-lenient-policies-for-cannabis-use-among-college-athletes">traditionally conservative in its advertising partners</a>, still lists marijuana as a prohibited partner in official guidelines. However, the deal is framed around Cookies' CBD and wellness products, sharing the same widely recognized Cookies brand logo known in the marijuana sector.
<ul>
<li>Get Benzinga&#8217;s exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter <a href="https://newsletteremail.benzinga.com/subscribe">here</a>. If you&#8217;re serious about the business, you can&#8217;t afford to miss out.</li>
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The partnership navigates through unclear promotional guidelines within the NCAA, <a href="https://www.benzinga.com/markets/cannabis/24/06/39507374/ncaa-removes-cannabis-from-banned-substances-list-cancels-penalties">suggesting a possible shift in the association&#8217;s stance</a> on cannabis-related advertising, though official confirmations remain absent. The ambiguity extends to whether this paves the way for other cannabis firms to enter the lucrative college sports marketing arena.&nbsp;
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/08/40558915/will-cannabis-be-a-game-changer-for-athletes-nfls-1m-study-suggests-it-could">Will Cannabis Be A Game-Changer For Athletes? NFL&#8217;s $1M Study Suggests It Could</a>
<h3 class="wp-block-heading">Cannabis Sponsorship Potential To Expand College Sports Funding</h3>
Experts like Jim Andrews, a sports marketing authority at Northwestern University consulted by SFGATE, said this could open significant new revenue streams for collegiate sports, pressured to diversify their funding sources.
Cookies&#8217; strategy includes engaging fans with tailgating events and digital advertisements at USC home games, a move that introduces the cannabis brand to a new, diverse audience. The partnership emphasizes CBD products only, without promoting THC-containing products, yet the shared branding between Cookies&#8217; cannabis and wellness lines blurs these distinctions for the public.
<h3 class="wp-block-heading">Alcohol Vs. Cannabis Sponsorship Debate</h3>
Nevertheless, this visibility is not without controversy, as critics raise concerns about promoting cannabis on campuses where many students are underage. Cookies president Parker Berling addressed concerns, noting the existing precedent of alcohol sponsorships in college sports. "I don't know why alcohol companies can sponsor major universities, but cannabis companies cannot," Berling told SFGATE.
This partnership between Cookies and the USC could signal a transformative era for sponsorship strategies in college sports, driven by the evolving legal and societal perspectives on cannabis. 
Read Next:
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<li><a href="https://www.benzinga.com/markets/cannabis/24/08/40484301/americans-view-cannabis-as-less-harmful-than-tobacco-or-alcohol-divided-over-impact-on-society-g">Americans View Cannabis As Less Harmful Than Tobacco Or Alcohol, Divided Over Impact On Society, Gallup Finds</a></li>
</ul>

Sports

California Brand Cookies Lands First-Ever NCAA Cannabis Sponsorship With University Of So-Cal Deal

Chechen leader&nbsp;Ramzan Kadyrov alleged on Friday that Tesla CEO Elon Musk remotely turned off his Cybertruck with a mounted machine gun after it was sent to the Northern Military District as part of the Russia-Ukraine war.
What Happened: &#8220;Elon Musk did something ugly. He gives expensive gifts from the heart, and then turns them off remotely,&#8221; Kadyrov wrote in a post on messaging app Telegram in Russian. 
The Head of the Chechen Republic added that the truck was sent to the Northern Military District where it &#8220;coped well&#8221; in combat missions and had to be towed after it was turned off. 
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="522" height="1024" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/21032019/1b55bfaa-eb5a-49f0-8749-28f514728e6d-522x1024.jpeg" alt="" class="wp-image-559570" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/21032019/1b55bfaa-eb5a-49f0-8749-28f514728e6d-522x1024.jpeg 522w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/21032019/1b55bfaa-eb5a-49f0-8749-28f514728e6d-153x300.jpeg 153w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/21032019/1b55bfaa-eb5a-49f0-8749-28f514728e6d.jpeg 551w" sizes="(max-width: 522px) 100vw, 522px" /></figure>
In another post, Kadyrov said that he is now sending two more Cybertrucks which were unaffected by the remote shutdown to the warzone. The attached video shows the trucks riding through a forested area with men in military uniforms in the truckbeds and mounted machine guns. 
 "You can&#8217;t think of a better advertisement for Cybertruck,&#8221; Kadyrov wrote in the post. 
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="592" height="1024" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/21035212/578ee562-8ffc-4022-8e78-27bcdf3c4f6d-592x1024.jpeg" alt="" class="wp-image-559592" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/21035212/578ee562-8ffc-4022-8e78-27bcdf3c4f6d-592x1024.jpeg 592w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/21035212/578ee562-8ffc-4022-8e78-27bcdf3c4f6d-173x300.jpeg 173w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/21035212/578ee562-8ffc-4022-8e78-27bcdf3c4f6d.jpeg 624w" sizes="(max-width: 592px) 100vw, 592px" /></figure>
Why It Matters: Kadyrov first shared a video of him driving the Cybertruck with a machine gun mounted on the roof on Telegram last month.
"Based on such excellent characteristics, the Cybertruck will soon be sent to the SVO zone (Russia-Ukraine war zone), where it will be in demand under appropriate conditions. I am sure this &#8220;beast&#8221; will bring a lot of benefits to our soldiers," Kadyrov then wrote on Telegram in Russian, hinting at the use of the Tesla vehicle in the country's war against Ukraine.
Kadyrov thanked Musk for the truck and also welcomed him to Grozny, the capital city of Chechnya. 
Musk, however,<a href="https://www.benzinga.com/news/24/08/40434114/elon-musk-denies-donating-tesla-cybertruck-to-ramzan-kadyrov-after-russian-general-showed-off-truck"> denied &#8220;donating&#8221; a Cybertruck </a>to Kadyrov and wrote on X, &#8220;Are you seriously so r&#x2A;&#x2A;&#x2A;&#x2A;&#x2A;&#x2A;&#x2A; that you think I donated a Cybertruck to a Russian general? That's amazing.&#8221;
Though Musk has denied "donating" the truck to Kadyrov, the CEO didn't clarify how the leader might have gained access to the truck showcased in the video<a href="https://www.benzinga.com/news/24/08/40504595/military-expert-calls-russian-president-allys-tesla-cybertruck-super-cool-but-useless-combat-vehicle"> shared on Telegram</a>. The Cybertruck is currently limited to sales within the U.S.
Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read More:
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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40968088/teslas-stock-performance-in-2019-and-2024-shows-striking-similarities-says-gary-bla" target="_blank" rel="noreferrer noopener">Tesla&#8217;s Stock Performance In 2019 And 2024 Shows ‘Striking&#8217; Similarities, Says Gary Black: Flags This Reason That May Lead To Price Surge In 2025</a></li>
</ul>
(Note: The Telegram post mentioned in this story was translated from Russian to English with Google Translate. Benzinga does not vouch for the accuracy of the translation.)
Photo: courtesy of Tesla

Politics

Global

Russian President's Ally Ramzan Kadyrov Says Elon Musk Remotely Turned Off His Cybertruck In Russia

Tesla and SpaceX CEO Elon Musk has fired back at Gov. Gavin Newsom&#8217;s (D) threat of legal action over his <a href="https://www.benzinga.com/news/24/09/40912021/gavin-newsom-signs-laws-aimed-at-curbing-deepfakes-around-elections-critical-that-we-ensure-ai-is-no">use of memes and deepfakes</a>.
What Happened: Governor Newsom has denied any intention to suppress parodies&nbsp;and made it clear that he&nbsp;was laying down the law&nbsp;with Musk.
His statement came after days of escalating feud between the duo, which started with Newsom signing a stringent law banning political&nbsp;&#8220;deepfakes,&#8221; earlier this week.
Following the governor&#8217;s enactment of three bills aimed at restricting the use of AI in creating fake images for videos and political ads, Musk accused Newsom of trying to outlaw parody.
&#8220;I think Mr. Musk has missed the punchline. Parody is still alive and well in California but deepfakes and manipulation of elections that hurts democracy and the integrity of the system and trust.&#8221;
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/09/40893054/mark-cuban-says-he-would-buy-rupert-murdochs-fox-news-and-elon-musks-x-but-there-are-some-obstacles?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mark Cuban Says He Would Buy Rupert Murdoch&#8217;s Fox News And Elon Musk&#8217;s X But There Are Some Obstacles: &#8216;If I Had Enough… I&#8217;d Buy It In A Heartbeat&#8217;</a>
When probed about whether he intends to seek legal action against Musk, Newsom said, &#8220;The law asserts that many can seek injunction relief. I just signed the law &#8230; and I haven&#8217;t had a chance to review the specific lawsuit around a conservative blogger that seems offended by our laws.&#8221;
Musk responded to Newsom&#8217;s potential legal action on social media with one word: &#8220;Amazing.&#8221; 
When&nbsp;Cathie Wood, CEO of&nbsp;ARK Invest,&nbsp;shared the same video and&nbsp;called it &#8220;Unconstitutional,&#8221; Musk agreed, stating,&nbsp;&#8220;Very much so, but that&nbsp;didn't stop them.&#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">Very much so, but that didn't stop them
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1837312927906283986?ref_src=twsrc%5Etfw">September 21, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
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Why It Matters: Musk has faced accusations of manipulating the platform to prioritize his posts and suspending the accounts of journalists who report on him.
In response to Musk&#8217;s actions, several major <a href="https://www.benzinga.com/news/24/09/40762349/x-faces-major-advertiser-exodus-amid-string-of-elon-musk-controversies">advertisers have pulled their ads</a> from X.
Meanwhile, the rising misuse of AI to produce deepfakes has become an increasing concern. A previous study by Google&#8217;s DeepMind showed that deepfakes of politicians and celebrities were <a href="https://www.benzinga.com/news/24/06/39471997/google-deepmind-study-reveals-that-deepfakes-of-politicians-and-celebrities-more-common-than-ai-assi">more prevalent than AI-driven</a> cyberattacks.
Earlier this year, AI image generation tools from OpenAI and Microsoft were linked to <a href="https://www.benzinga.com/news/24/03/37516234/alarm-bells-ring-as-ai-generated-from-openai-microsoft-image-tools-fuel-election-misinformation-scan">election misinformation scandals</a>.
In January 2024, deepfake <a href="https://www.benzinga.com/news/24/01/36813251/taylor-swift-joe-biden-and-more-embroiled-in-deepfake-attacks-threatening-us-election-integrity-we-a">incidents involving public figures</a> like Taylor Swift and President Joe Biden raised concerns at the White House.
The law signed by Newsom also came after an AI-manipulated campaign video ridiculing Democratic nominee Kamala Harris in July gained attention after <a href="https://www.benzinga.com/news/24/07/40001800/musk-appears-to-violate-own-social-media-platforms-guidelines-posts-manipulated-video-of-kamala-harr">being shared by Musk</a>.
Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/24/09/40914747/jpmorgan-ceo-jamie-dimon-thinks-social-media-platforms-like-tiktok-and-facebook-are-a-total-stupid-w?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">JPMorgan CEO Jamie Dimon Thinks Social Media Platforms Like TikTok And Facebook Are ‘A Total Stupid Waste Of Time'</a></li>
</ul>
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Image Via Shutterstock

Legal

Elon Musk Reacts After Cathie Wood Labels Gavin Newsom's Threat To Sue Tesla CEO Over Memes 'Unconstitutional': '…But That Didn't Stop Them'

Microsoft Corporation co-founder Bill Gates has shared the <a href="https://www.benzinga.com/general/entertainment/24/09/40738801/lady-gaga-mark-cuban-bernie-sanders-fauci-and-more-join-bill-gates-netflix-special-i-have-a">&#8220;behind the scenes&#8221; of his new</a> Netflix Inc. series, &#8220;What's Next? The Future with Bill Gates.&#8221;
What Happened:&nbsp;The new series which delves into future challenges with Gates interviewing politicians, celebrities, and business leaders was released earlier this week.
In a blog post on Wednesday, Gates highlights three standout discussions with Lady Gaga, Senator Bernie Sanders and Phoebe Gates, his daughter.
About Gaga he said that their conversation centered around misinformation. &#8220;Our conversation was valuable in helping me think through what is (and might not be) possible when it comes to preventing misinformation.&#8221;
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/09/40914747/jpmorgan-ceo-jamie-dimon-thinks-social-media-platforms-like-tiktok-and-facebook-are-a-total-stupid-w?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">JPMorgan CEO Jamie Dimon Thinks Social Media Platforms Like TikTok And Facebook Are &#8216;A Total Stupid Waste Of Time&#8217;</a>
With Sanders, the conversation focused on income inequality and taxation of the wealthy.
Gates mentioned that several of his friends weren&#8217;t sure about him meeting the senator because &#8220;Sen. Sanders is the first U.S. Senator in history to go on record saying that billionaires shouldn't exist.&#8221;
However, they had a nice discussion, during which the senator asked some tough questions.
Gates also shared that when they were going to their respective cars after parting, a jogger identified them in a way that made it clear they were an &#8220;unexpected duo.&#8221;
The Microsoft co-founder also wrote about his daughter Phoebe, with whom he discussed the impact of misinformation on women's rights activism. &#8220;I'm so proud of how Phoebe uses her voice to advocate for women and girls.&#8221;
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Why It Matters:&nbsp;The five-part docuseries tackles various challenges such as&nbsp;AI, climate change, misinformation,&nbsp;disease eradication, and income inequality.
Among the guests are Anthony Fauci, Bono, Greg Brockman, James Cameron, Lady Gaga, Mark Cuban, Phoebe Gates, Senator Sanders, and Senator Mitt Romney.
According to a <a href="https://www.benzinga.com/general/entertainment/24/09/40866331/bill-gates-new-netflix-series-features-mark-cuban-voted-most-anticipated-guest-benzinga-pol">poll conducted by Benzinga</a>, most users are interested in the episode featuring Cuban.
The billionaire entrepreneur and &#8220;Shark Tank&#8221; star won the poll, securing nearly 50% of the votes, following him in second place was Fauci, likely due to his insights on COVID-19 and vaccines.
Meanwhile, Netflix, in July, Netflix reported <a href="https://www.benzinga.com/news/earnings/24/07/39849026/netflix-q2-earnings-highlights-revenue-beat-eps-beat-advertising-revenue-more-meaningful-squid-game">second-quarter revenue</a> of $9.56 billion, representing a 16.8% increase compared to the previous year. This figure surpassed the Street&#8217;s consensus estimate of $9.53 billion, according to data<a href="http://www.benzinga.com/pro/register/?utm_source=BZprocontent071824&amp;t=be2bearmibe3na1" target="_blank" rel="noreferrer noopener">&nbsp;from Benzinga Pro.</a>
Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/24/09/40911877/jeff-bezos-had-a-habit-of-keeping-an-empty-chair-for-the-most-important-person-in-the-room-at-compan?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Jeff Bezos Had A Habit Of Keeping An Empty Chair For The Most Important Person In The Room At Company Meetings: This Strategy Helped The Amazon Founder Build The E-Commerce Giant We Know Today</a></li>
</ul>
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Image via Wikimedia Commons

Entertainment

'What's Next? The Future With Bill Gates': Microsoft Co-Founder Unveils Behind The Scenes Of His New Netflix Series

Georgia Rep. Marjorie Taylor Greene (R-Ga.) on Friday slammed the Biden administration for lack of outcome to investments under its Broadband Equity Access and Deployment Program.
What Happened: The program is a $42 billion initiative aimed at making access to high-speed broadband universal by 2030. Georgia was allocated $1.3 billion under the initiative. However, not one household has been connected to broadband under the program in the state of Georgia, Greene said. 
&#8220;Talk about a policy failure, talk about not delivering results to the American people. Spending $42 billion and yet not having one household connected to the internet,&#8221; Greene said at the House Committee on Oversight and Accountability hearing held on Thursday to highlight the Biden-Harris Administration&#8217;s alleged policy failures.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Staggeringly bad waste of money <a href="https://t.co/RerY7SrCmQ">https://t.co/RerY7SrCmQ</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1837322544820441207?ref_src=twsrc%5Etfw">September 21, 2024</a></blockquote>
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FCC Commissioner Brendan Carr Weighs In: "In 2021, Vice President Harris agreed to lead the Administration's signature, $42 billion plan for expanding high-speed internet to millions of Americans. It has now been 1,039 days since the $42 billion program was signed into law. After all of that time, not one person has been connected to the Internet with those dollars—not one home, not one business. So what has the Biden-Harris Administration been doing over the last 1,039 days instead of focusing on connecting Americans?,&#8221; <a href="https://www.benzinga.com/news/24/09/40851361/republican-fcc-commissioner-alleges-double-standards-after-fcc-chair-jessica-rosenworcel-says-spacex">Commissioner of the Federal Communications Commission</a> Brendan Carr said.
Carr further alleged that the program is being used to pursue a &#8220;climate change agenda and DEI requirements&#8221; that will lead to &#8220;wasteful overbuilding.&#8221;
&#8220;All of this will leave rural and other unconnected communities behind,&#8221; Carr added. 
Billionaire CEO Responds: &#8220;Staggeringly bad waste of money,&#8221; SpaceX CEO Elon Musk also said about the $42 billion broadband program. 
It must be noted that Musk&#8217;s SpaceX has a <a href="https://www.benzinga.com/news/24/09/40892013/spacex-ceo-elon-musk-says-canadian-government-is-funding-starlink-rival-for-satellite-internet-despi">satellite internet segment called Starlink</a> which seeks to provide connectivity around the globe with a network of satellites in low-Earth orbit. 
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read More:
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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40968088/teslas-stock-performance-in-2019-and-2024-shows-striking-similarities-says-gary-bla" target="_blank" rel="noreferrer noopener">Tesla's Stock Performance In 2019 And 2024 Shows ‘Striking' Similarities, Says Gary Black: Flags This Reason That May Lead To Price Surge In 2025</a></li>
</ul>
Image via Flickr/ Gage Skidmore

SPACE

Marjorie Taylor Greene Slams Lack Of Results From Biden Administration's $42B Broadband Program In Georgia: Elon Musk Calls It 'Staggeringly Bad Waste Of Money'

The U.S. Securities and Exchange Commission (SEC) has given the green light for the listing and trading of options for BlackRock Inc.&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLK#NYSE">BLK</a>) spot Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) exchange-traded fund (ETF).
What Happened: The approved options will be listed on the Nasdaq under the ticker symbol &#8220;IBIT.&#8221; This move allows institutional investors and traders to hedge their exposure to bitcoin more efficiently.
Options trading provides a cost-effective way to amplify exposure to bitcoin, offering an alternative method for managing investments in the world&#8217;s largest cryptocurrency. The approval marks another significant step for cryptocurrency, which has been gaining mainstream acceptance.
See Also: <a href="https://www.benzinga.com/news/24/09/40953535/anybody-who-votes-for-a-democrat-or-kamala-worst-you-should-have-your-head-examined-trump-tells-vote?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">&#8216;Anybody Who Votes For A Democrat Or Kamala, Worst…You Should Have Your Head Examined:&#8217; Trump Tells Voters</a>
Earlier this year, bitcoin ETFs were launched, bringing the asset class closer to widespread adoption. Options give holders the right to buy or sell an asset at a predetermined price by a set date, adding flexibility to investment strategies.
Exchanges began applying for spot bitcoin ETF options as soon as it became evident that the SEC would approve the underlying ETFs in January. The SEC oversees the technical rule changes required for exchanges to list options and confirmed that existing surveillance procedures will apply to IBIT options.
Why It Matters: The approval of Bitcoin ETF options comes at a time when the cryptocurrency market is showing signs of strength. Analysts have <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40963556/experts-predict-bitcoin-surge-to-65-000-as-crypto-market-remains-steady">projected Bitcoin to reach $65,000</a> in the near term, citing increased long positions and bullish options activity. This positive market sentiment is further bolstered by the SEC&#8217;s recent approval, which is likely to attract more institutional investors to the crypto space.
Moreover, the outcome of the 2024 election could have a significant impact on Bitcoin&#8217;s price, according to a <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40778409/donald-trump-winning-the-election-could-propel-bitcoin-to-90k-but-a-kamala-harris-win-coul">Bernstein report</a>. A Trump victory could potentially propel Bitcoin to new heights, reaching $80,000 to $90,000 by the end of Q4, while a Harris win could see Bitcoin retreating to the $30,000 to $40,000 range. The approval of Bitcoin ETF options, therefore, adds another layer of intrigue to the potential impact of the election on the cryptocurrency market.
Read Next: <a href="https://www.benzinga.com/markets/equities/24/09/40917216/elon-musk-says-warren-buffett-is-positioning-for-kamala-harris-win-with-his-277b-cash-pile-as-pr?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Says Warren Buffett Is Positioning For Kamala Harris Win With His $277B Cash Pile</a>
This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Image: Shutterstock

Options

SEC Greenlights Options Trading For BlackRock's Spot Bitcoin ETF, Offering New Hedge For Institutional Investors

The legal counsel for&nbsp;former President Donald Trump&#8217;s new&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40934959/anthony-scaramucci-says-donald-trump-is-a-polarizing-person-but-pulling-democrats-along-on">cryptocurrency venture</a>, World Liberty Financial (WLFI), a new decentralized finance (DeFi) platform has been accused of trying to seize control of another digital asset company.
What Happened: Alex Golubitsky, the general counsel&nbsp;for <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40905315/donald-trumps-new-crypto-project-world-liberty-financial-everything-you-need-to-know">World Liberty Financial</a>, was previously&nbsp;fired from a different cryptocurrency&nbsp;company, Umami, in January 2023.
Following his dismissal, Golubitsky allegedly attempted to take over Umami, according to the company&#8217;s CEO, Alex O&#8217;Donnell, <a href="https://www.businessinsider.in/tech/news/the-lawyer-for-trumps-new-crypto-firm-was-accused-of-trying-to-take-over-another-digital-asset-company/articleshow/113536864.cms">reported</a> Business Insider, citing court documents.
Trump announced his association with World Liberty Financial on Monday, although his official role remains unclear.
He is listed as the &#8220;chief crypto advocate&#8221;&nbsp;in a company white paper. Three of Trump&#8217;s children, including his youngest son Barron Trump, are also linked to the venture.
See Also:&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40946963/bitcoin-worth-63-000-pulled-in-33-pack-of-trading-cards-at-gamestop-mind-boggling-story-go?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin Worth $63,000 Pulled In $33 Pack Of Trading Cards At GameStop: &#8216;Mind-Boggling&#8217; Story Goes Viral, Highlights Crypto Redemption Card</a>
After his dismissal from Umami, Golubitsky and another former employee reportedly&nbsp;appointed themselves to Umami&#8217;s board&nbsp;and tried to take the company&#8217;s intellectual property.
A Delaware vice chancellor ruled in O&#8217;Donnell&#8217;s favor last year and awarded O&#8217;Donnell over $375,000 in legal fees and costs, the report noted.
Other key employees of World Liberty Financial, including&nbsp;Chase Herro and Zachary Folkman,&nbsp;have also faced scrutiny for their professional pasts.
Their&nbsp;previous crypto venture, Dough Finance,&nbsp;was hacked this summer, resulting in the theft of&nbsp;over $2 million from users.
Why It Matters: Trump&#8217;s foray into the crypto space with World Liberty Financial was officially announced during a live X, formerly Twitter, Spaces event, marking his formal <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40932192/trump-pays-up-for-smash-burgers-and-diet-cokes-with-bitcoin-during-new-york-campaign-halt-">embrace of blockchain technology</a>.
His <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40901067/i-was-blown-away-donald-trump-credits-sons-for-introducing-him-to-crypto-marvels-at-nft-co">interest in cryptocurrencies</a> was largely influenced by the success of his NFT collection and the influence of his children, according to the former President.
The venture has already sparked concerns, with Ethereum co-founder Charles Hoskinson expressing reservations about the platform <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40957734/ethereum-co-founder-says-donald-trumps-defi-platform-is-scary-because-everything-trump-doe">becoming a political issue</a>.
The 2024 election outcome could also <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40778409/donald-trump-winning-the-election-could-propel-bitcoin-to-90k-but-a-kamala-harris-win-coul">significantly impact</a> Bitcoin&#8217;s price, with a Trump victory potentially propelling Bitcoin to new heights, according to a Bernstein report.
Read Next:
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40924380/mark-cuban-slams-trumps-crypto-plans-while-jon-stewart-calls-him-the-lefts-favorite-billio?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mark Cuban Slams Trump&#8217;s Crypto Plans While Jon Stewart Calls Him &#8216;The Left&#8217;s Favorite Billionaire&#8217; – What Investors Need To Know</a></li>
</ul>
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Image created via photos on Shutterstock

Media

Trump's New Crypto Venture's Legal Counsel Accused Of Attempting To Seize Control Of Rival Firm

Boeing Co&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) Space segment chief Ted Colbert has reportedly left the company on the heels of issues identified with its Starliner spacecraft.
What Happened: Colbert, who has run Boeing&#8217;s Defense, Space, and Security division since 2022, has left the company, Financial Times<a href="https://www.ft.com/content/c87385c1-5c28-49f4-9348-5fe2d05db746"> reported</a>, citing a memo to employees sent by Boeing CEO Kelly Ortberg.
The memo, sent out on Friday, reportedly said that Colbert&#8217;s departure is &#8216;effective immediately.&#8217;
Steve Parker, the division&#8217;s chief operating officer, will lead it until a permanent replacement is named, the report added. Parker has been at Boeing for over 36 years now, according to his LinkedIn profile. 
Boeing did not immediately respond to <a href="http://pro.benzinga.com">Benzinga&#8216;s</a> request for comment.
Why It Matters: Colbert&#8217;s departure comes on the heels of Boeing&#8217;s troubles with the Starliner spacecraft. Starliner launched two astronauts – Sunita Williams and Butch Wilmore – to the International Space Station on June 5. Though the two were supposed to return in about eight days, technical issues identified with the spacecraft while docking delayed the return until NASA decided to scrap bringing back the two astronauts on Starliner altogether.
The Starliner subsequently<a href="https://www.benzinga.com/news/24/09/40758526/boeing-starliner-returns-to-earth-without-sunita-williams-and-butch-wilmore-lands-in-new-mexico-afte" target="_blank" rel="noreferrer noopener">&nbsp;returned without the astronauts on Sept. 6</a>. Williams and Wilmore, who are currently at the station, will now join two Crew-9 mission astronauts on their return journey to Earth in February 2025 aboard a SpaceX Dragon spacecraft, the agency said. The crew-9 mission is now slated to launch <a href="https://www.benzinga.com/news/24/09/40850262/nasa-delays-crew-9-mission-yet-again-this-time-to-complete-prelaunch-preparations">no earlier than Sept. 25</a>. 
Boeing&#8217;s Defense, Space, and Security division, one of its three main divisions, has also been hoarding losses. For the full-year 2023, the segment reported a loss from operations of $1.76 billion. In 2022, the loss from operations was still higher at $3.54 billion.
Price Action: Boeing shares closed down 0.8% at $153.29 on Friday. The stock is down 39% year-to-date, according to <a href="https://www.benzinga.com/pro/">data from Benzinga Pro</a>. 
Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read More:
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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40968088/teslas-stock-performance-in-2019-and-2024-shows-striking-similarities-says-gary-bla">Tesla&#8217;s Stock Performance In 2019 And 2024 Shows &#8216;Striking&#8217; Similarities, Says Gary Black: Flags This Reason That May Lead To Price Surge In 2025</a></li>
</ul>
Image via NASA

Boeing's Space Segment Chief Ted Colbert Quits Amid Mounting Pressure After Starliner Fails To Bring Astronauts Back From ISS

The Securities and Exchange Commission (SEC) has urged a federal judge to sanction Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) and SpaceX CEO Elon Musk if he continues to avoid <a href="https://www.benzinga.com/government/24/05/39090563/elon-musk-to-testify-in-sec-probe-of-twitter-acquisition-billionaire-to-provide-investigative-testim">appearing for a deposition</a>.
What Happened: The SEC is probing whether Elon Musk or his associates engaged in securities fraud in 2022 when Musk <a href="https://www.benzinga.com/news/earnings/22/10/29358239/when-can-elon-musk-sell-tesla-shares-could-more-shares-be-unloaded-to-finance-twitter-acquisition">sold Tesla shares and increased</a> his stake in Twitter, now rebranded as X.
In May, Musk was <a href="https://www.benzinga.com/news/24/02/37061910/us-judge-orders-elon-musks-testimony-in-sec-probe-of-44b-twitter-acquisition">ordered by the court</a>&nbsp;to appear for a deposition&nbsp;by the financial regulators <a href="https://www.benzinga.com/news/23/04/31810229/elon-musk-bought-twitter-1-year-ago-a-look-back-at-whats-happened-since-and-what-could-be-next">regarding&nbsp;the Twitter deal</a>. 
However, the tech billionaire twice failed to appear before the SEC, first in September 2023 and again last week, in defiance of a clear court order, according to SEC attorney Robin Andrews, <a href="https://www.cnbc.com/2024/09/20/sec-says-musk-should-be-sanctioned-if-he-keeps-dodging-twitter-depositions.html">reported</a> CNBC.
Andrews has requested&nbsp;the judge to consider sanctions&nbsp;if Musk continues to delay. The SEC also plans&nbsp;to ask the court to hold Musk in &#8220;civil contempt&#8221;&nbsp;for canceling a deposition on&nbsp;Sept. 10 with&nbsp;only a few hours&#8217; notice.
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/09/40940596/matching-nvidia-in-short-term-is-unlikely-analysts-predict-as-china-ramps-up-search-for-rivalling-je?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">&#8216;Matching Nvidia In Short-Term Is Unlikely,&#8217; Analysts Predict As China Ramps Up Search For Rivalling Jensen Huang-Led Chip Giant Amid US Sanctions</a>
Musk&#8217;s deposition has been rescheduled for&nbsp;early October at an SEC&nbsp;office.
Musk&#8217;s attorney, Alex Spiro, responded that &#8220;such drastic action would be inappropriate,&#8221; adding that&nbsp;Musk and his companies have&nbsp;been&nbsp;<a href="https://www.benzinga.com/news/24/07/39650518/musk-argues-mistake-not-fraud-in-twitter-stake-disclosure-lawsuit">cooperating with the SEC</a> in multiple other ongoing investigations.
A user on X&nbsp;shared the news&nbsp;about the SEC&#8217;s intent to seek sanctions against Musk, and argued that the tech billionaire &#8220;was busy overseeing the launch of SpaceX&#8217;s Polaris Dawn mission that day.&#8221;
In response, Musk seemingly agreed and <a href="https://www.benzinga.com/news/24/09/40872104/polaris-dawn-returns-home-after-5-day-mission-including-first-commercial-spacewalk">described the mission</a> as &#8220;our highest-risk astronaut mission ever.&#8221;
He noted that stringent weather constraints were only met on the night of the launch.
&#8220;The weather constraints&nbsp;on this mission are also&nbsp;extremely high and only cleared&nbsp;that night. I had to&nbsp;make a go vs no-go&nbsp;decision. Their lives came first.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">This was our highest risk astronaut mission ever and I have responsibility for their safety. The weather constraints on this mission are also extremely high and only cleared that night. I had to make a go vs no-go decision. Their lives came first.
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1837308226632667160?ref_src=twsrc%5Etfw">September 21, 2024</a></blockquote>
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Why It Matters: Earlier this year in April, the&nbsp;U.S. Supreme Court upheld a <a href="https://www.benzinga.com/government/24/04/38495283/supreme-court-rejects-elon-musks-bid-to-overturn-sec-decision-report">2018 SEC settlement&nbsp;following</a> Musk's claim of having "funding secured" to privatize Tesla, which the SEC deemed false.
Musk has also&nbsp;previously <a href="https://www.benzinga.com/markets/equities/24/04/38517681/elon-musk-reacts-to-an-old-clip-from-lex-fridmans-podcast-on-what-exactly-is-wrong-with-sec-the-">expressed dissatisfaction with the SEC</a>&nbsp;on Lex Fridman‘s podcast, criticizing the agency&#8217;s failure to protect retail investors from hedge funds. &#8220;Not once did the SEC go after any of the hedge funds who were nonstop shorting and distorting Tesla. Not once,&#8221; he stated at the time.
Last year, after the&nbsp;<a href="https://www.benzinga.com/news/23/10/35120811/elon-musk-fires-back-as-sec-sues-him-over-twitter-stock-drama-comprehensive-overhaul-of-these-agenci">SEC filed a lawsuit against Musk</a>&nbsp;over his Twitter stock purchase, to which Musk responded that a comprehensive overhaul of these agencies is sorely needed.
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Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Image via Shutterstock

Elon Musk Claps Back After SEC Threatens Sanctions Against Tesla CEO For Evading Twitter Depositions, Says He Was Overseeing 'Highest Risk Astronaut Mission' Of SpaceX: 'I Had To Make A Go Vs No-Go Decision. Their Lives Came First'

President of El Salvador Nayib Bukele visited Tesla Inc&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) gigafactory in Texas and spent several hours talking with company CEO Elon Musk, the leader said on Friday.
What Happened: &#8220;It was a pleasure to spend several hours talking with one of the great minds of our time,&#8221; Bukele wrote on social media platform X, formerly Twitter, referring to Musk. The post was adjoined by a short video showing Musk welcoming Bukele to Tesla while remarking that Giga Texas is &#8220;three times the size of the Pentagon.&#8221;
Musk too said that he had &#8220;an excellent conversation&#8221; with the Salvadoran president.
&#8220;We talked a lot about the nature of reality, future of humanity and how technology like AI and robotics will affect the world,&#8221; Musk said while adding that El Salvador has an &#8220;amazing leader.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Just had an excellent conversation with President <a href="https://twitter.com/nayibbukele?ref_src=twsrc%5Etfw">@NayibBukele</a>! We talked a lot about the nature of reality, future of humanity and how technology like AI and robotics will affect the world. El Salvador has an amazing leader. <a href="https://t.co/vvCfu1tYoB">https://t.co/vvCfu1tYoB</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1837312664197886123?ref_src=twsrc%5Etfw">September 21, 2024</a></blockquote>
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Why It Matters: Bukele took office for the second term in June. He is known for his<a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40569179/elon-musk-cheers-pro-bitcoin-el-salvador-president-nayib-bukeles-free-speech-guarantee-ami"> pro-Bitcoin stance </a>and announced that he planned to build Bitcoin City in late 2021. The country also recognized Bitcoin as a legal tender in 2021.
Musk shares Bukele&#8217;s enthusiasm for cryptocurrencies. Last month, <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40665546/tesla-ceo-elon-musk-wants-to-bring-back-dogecoin-as-a-payment-option-to-buy-companys-merch">Musk said</a> that he would like to have the option of paying with meme cryptocurrency Dogecoin reinstated for the company&#8217;s merchandise on its online shop. 
Though the shop currently only allows payment in dollars, it previously allowed users to&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/22/01/25050400/tesla-begins-accepting-dogecoin-on-online-store-displays-pricing-of-several-merchandise-di" target="_blank" rel="noreferrer noopener">make payments with Dogecoin</a>. Earlier this year, Musk even suggested in an address during his visit to Giga Berlin that the company would accept Dogecoin as an official form of payment for its cars at some point.
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
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Photo by Gobierno Danilo Medina on Flickr

Pro-Bitcoin El Salvador President Nayib Bukele Meets Elon Musk At Tesla's Giga Texas, Hails Billionaire CEO As 'One Of The Great Minds Of Our Time'

Chip giant Qualcomm Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>) reportedly <a href="https://www.benzinga.com/markets/equities/24/09/40673694/intel-ceo-pat-gelsinger-to-present-board-with-major-asset-sale-and-cost-cutting-plan-including-h">approached its struggling</a> competitor Intel Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) for a possible takeover.
What Happened: Qualcomm&#8217;s takeover attempt was in recent days, which if it goes through, would be monumental given Intel&#8217;s&nbsp;market value of roughly $90&nbsp;billion, <a href="https://www.wsj.com/business/deals/qualcomm-approached-intel-about-a-takeover-in-recent-days-fa114f9d">reported</a> The Wall Street Journal, citing people familiar with the matter.
However, the deal is far from a sure thing, with potential antitrust scrutiny posing a significant obstacle.
Intel, once the world&#8217;s most valuable chip company, has seen its shares plummet by about 60% this year.
The company&#8217;s market value was above $290 billion as recently as 2020. Qualcomm, on the other hand,&nbsp;has a market value of&nbsp;around $185 billion.
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/09/40893054/mark-cuban-says-he-would-buy-rupert-murdochs-fox-news-and-elon-musks-x-but-there-are-some-obstacles?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mark Cuban Says He Would Buy Rupert Murdoch&#8217;s Fox News And Elon Musk&#8217;s X But There Are Some Obstacles: &#8216;If I Had Enough… I&#8217;d Buy It In A Heartbeat&#8217;</a>
A potential deal would significantly broaden Qualcomm&#8217;s scope, <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/02/36882810/qualcomm-extends-its-deals-with-apple-and-samsung-analyst-calls-it-a-not-surprising">supplementing&nbsp;its mobile phone chip</a> business with Intel&#8217;s chips, which are widely used&nbsp;in personal computers and servers.
Both companies are striving to take advantage of the artificial intelligence boom, but they have been eclipsed by AI chip giant Nvidia Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>).
Intel has been <a href="https://www.benzinga.com/markets/equities/24/08/40593141/intel-board-member-lip-bu-tan-reportedly-left-after-disputes-with-ceo-and-other-directors-over-c">dealing with significant crises</a>, including a disappointing quarterly report in August, which led to <a href="https://www.benzinga.com/government/24/08/40230583/intels-8-5b-government-windfall-fails-to-stop-15-000-layoffs-at-chipmaker">plans for layoffs</a> and a halt in dividend payments.
The company also&nbsp;reported a loss of $1.6&nbsp;billion for the second quarter, compared with a $1.5 billion&nbsp;profit a year earlier.
Qualcomm&#8217;s&nbsp;approach follows a more than&nbsp;three-year turnaround effort at Intel&nbsp;under CEO Pat&nbsp;Gelsinger that has yet to yield significant results, the report noted
If the takeover is successful, it&nbsp;would rank as the all-time&nbsp;largest technology M&amp;A deal, surpassing Microsoft Corporation&#8217;s&nbsp;<a href="https://www.benzinga.com/general/gaming/23/10/35240972/microsofts-gaming-powerhouse-grows-activision-blizzard-bought-for-69-billion">$69 billion acquisition</a> of Activision&nbsp;Blizzard.
Why It Matters: In August, <a href="https://www.benzinga.com/news/earnings/24/08/40115276/intel-stock-falls-after-weak-q2-results-new-cost-reduction-plan-15-headcount-reduction">Intel posted quarterly earnings</a> of 2 cents per share, falling 80% short of the analyst consensus estimate of 10 cents and reflecting an 84.62% decline from the same quarter last year.
Revenue for the quarter was $12.83 billion, slightly below the expected $12.94 billion and down 0.9% year-over-year.
The Data Center and AI segment brought in $3 billion, a 3% decline, while Client Computing revenue rose 9% to $7.4 billion, and Network and Edge revenue slipped 1% to $1.3 billion.
On the other hand, Qualcomm has been performing well, with a <a href="https://www.benzinga.com/news/earnings/24/07/40080595/qualcomm-q3-earnings-highlights-revenue-beat-eps-beat-strong-execution-of-our-growth-and-diversific">third-quarter earnings report</a> highlighting an 11% year-over-year revenue increase.
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Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Image via Shutterstock

INTC

NVDA

QCOM

Qualcomm Reportedly Eyes Potential Takeover Of Intel Amid 60% Stock Decline, But Antitrust Concerns Loom

The similarities between Tesla Inc&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) stock performance this year compared to 2019 are &#8220;striking,&#8221; The Future Fund LLC managing partner Gary Black said on Friday, throwing caution to short sellers.
What Happened: Similar to how Tesla was gearing up to launch the Model Y in 2019, the company is now planning new vehicles, <a href="https://www.benzinga.com/news/24/06/39331612/elon-musk-teases-three-new-vehicles-at-teslas-annual-shareholder-meeting-more-affordable-model-incom">including more affordable models</a>, with the start of production slated for the first half of 2025.
In 2019, Tesla shorts believed that the Model Y was just a larger Model 3 and would grab market share of the Model 3, Black said. &#8220;In hindsight the shorts failed to realize Model Y vaulted TSLA into the hot-selling CUV category where it quickly become the #1 seller,&#8221; he added. Model Y is currently Tesla&#8217;s best-selling vehicle. 
Likewise, in 2025, the new affordable model of Tesla will increase Tesla&#8217;s total addressable market, Black said.
&#8220;Shorts again wrongly believe the TSLA compact will cannibalize Model 3, even though Model 3 competes in the affordable sedan segment. As with Model Y, TSLA will sell every TSLA Compact it makes, and earnings estimates will again run ahead of the stock price as they did in 2020, pushing the stock price higher,&#8221; Black wrote.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24TSLA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TSLA</a> similarities between 2019 and 2024 are striking. <a href="https://twitter.com/search?q=%24TSLAQ&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TSLAQ</a> shorts should listen up. In 2019, TSLA was gearing up for launch of the Model Y, a CUV that would essentially double TSLA TAM. The shorts believed Model Y was just a bigger Model 3 and thought erroneously that Model… <a href="https://t.co/QHpvD0h8O9">pic.twitter.com/QHpvD0h8O9</a>
&mdash; Gary Black (@garyblack00) <a href="https://twitter.com/garyblack00/status/1837268469139546597?ref_src=twsrc%5Etfw">September 20, 2024</a></blockquote>
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Tesla boomed in 2020 upon the release of the Model Y, Black noted, while adding that the same phenomena of positive earnings revisions driving the stock price higher could occur in 2025 when the more affordable vehicle is released.
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="650" height="450" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/20222144/newplot-2-3.jpeg" alt="" class="wp-image-559411" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/20222144/newplot-2-3.jpeg 650w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/20222144/newplot-2-3-300x208.jpeg 300w" sizes="(max-width: 650px) 100vw, 650px" /><figcaption class="wp-element-caption">Tesla Stock Trajectory In 2020</figcaption></figure>
Why It Matters: Tesla said during its second-quarter earnings report that the <a href="https://www.benzinga.com/news/24/08/40156978/tesla-ceo-elon-musk-admits-lower-priced-evs-from-rival-automakers-are-a-problem-but-not-one-that-wil">upcoming affordable vehicle</a> will be able to be produced on the same manufacturing lines as its current vehicle lineup. The company has yet to provide a price range or details on its new affordable vehicle but Black believes it would be priced between $25,000 and $30,000.
The Model 3 is currently the cheapest offering from Tesla. Its cheapest version starts at $38,990 in the U.S.
Tesla stock closed down 2.3% at $238.25 on Friday. The stock is down about 4% year-to-date, according to <a href="https://www.benzinga.com/pro/">data from Benzinga Pro</a>. 
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="650" height="450" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/20223551/newplot-3-3.jpeg" alt="" class="wp-image-559413" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/20223551/newplot-3-3.jpeg 650w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/20223551/newplot-3-3-300x208.jpeg 300w" sizes="(max-width: 650px) 100vw, 650px" /><figcaption class="wp-element-caption">Tesla Stock Trajectory Year-To-Date</figcaption></figure>
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
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Image via Shutterstock

Tesla's Stock Performance In 2019 And 2024 Shows 'Striking' Similarities, Says Gary Black: Flags This Reason That May Lead To Price Surge In 2025

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