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Worlcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">WLD</a>) topped the cryptocurrency market gainers list Wednesday on developments surrounding the project's founder, Sam Altman.
What happened: &nbsp;WLD, the native currency of the decentralized identity verification project was up more than 10% as of this writing, with the cryptocurrency's trading volume surging 83% in the last 24 hours.&nbsp;
The coin's rally starkly contrasted with the <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/41038373/bitcoin-ethereum-dogecoin-pull-back-as-auto-stocks-trigger-equities-decline-analyst-foreca">retreat made by blue-chip cryptocurrencies</a> like Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>), both of which traded in the red.
The upswing came after news surrounding ChatGPT-maker OpenAI&#8217;s transition from a non-profit to a for-profit model became public. The company&#8217;s <a href="https://www.benzinga.com/news/24/09/41038183/openais-restructure-from-non-profit-to-potential-150b-for-profit-sam-altman-could-get-equity">CEO Altman was set to receive equity</a>, according to a report.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40994028/elon-musk-dons-his-maga-hat-to-meet-pro-bitcoin-president-javier-milei-duo-discuss-argenti">Elon Musk Dons His MAGA Hat To Meet Pro-Bitcoin President Javier Milei: Duo Discuss Argentina&#8217;s Journey To Normalcy</a>
Why It Matters: Sam Altman launched the Worldcoin project last year amid significant media attention.
The project collects people's irises to authenticate their humanness and creates a digital ID, thereby making them eligible to receive free WLD tokens.
However, the project has faced persistent issues over concerns around personal data privacy. The project has been banned in <a href="https://www.benzinga.com/markets/asia/24/05/38981228/sam-altman-founded-worldcoin-shown-the-door-in-hong-kong-over-privacy-concerns">Hong Kong</a>, Kenya, and <a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39176283/sam-altman-founded-worldcoins-suspension-extended-in-spain-crypto-plunges-55-since-march-p">Spain</a>.
Government scrutiny has severely restricted WLD's growth, with the coin falling 43% since the year began.
Price Action: At the time of writing, WLD was exchanging hands at $2.07, up 10.62% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>. 
Photo via Shutterstock
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Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

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$WLD

Sam-Altman Founded Worldcoin Becomes Crypto Market's Biggest Gainer On OpenAI CEO's Equity Stake Development

SK Hynix (OTC:<a class="ticker" href="https://www.benzinga.com/stock/HXSCF#OTC">HXSCF</a>) shares soared over 9% on Thursday <a href="https://www.benzinga.com/markets/asia/24/09/40932429/nividia-supplier-sk-hynix-shares-drop-to-lowest-level-since-february-in-seoul-after-morgan-stanley-d">following the commencement of mass production</a> of their latest high-bandwidth memory chips.
What Happened: The South Korean company has introduced the HBM3E chips, which feature 12 layers and offer 50% more capacity than the previous eight-layer versions. 
This development positions SK Hynix ahead in the competitive race to meet the growing demand driven by artificial intelligence advancements.
The company, a primary supplier to NVIDIA Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), plans to deliver these advanced chips to unnamed customers by the end of the year. 
Samsung Electronics (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SSNLF#OTC">SSNLF</a>) had previously announced in July that it would supply its HBM3E 12-high units to customers in the latter half of this year. Meanwhile, Micron Technology Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>) disclosed earlier this month that it is shipping production-capable HBM3E 12-high units to key industry <a href="https://www.benzinga.com/news/24/08/40227015/nvidia-greenlights-samsungs-fifth-gen-hbm3e-chips-for-ai-processors-report">partners for qualification</a>.
See Also: <a href="https://www.benzinga.com/news/earnings/24/09/41034733/micron-q4-earnings-revenue-eps-beat-on-robust-ai-demand-company-sees-significantly-improved-profita">Micron Q4 Earnings: Revenue, EPS Beat On &#8216;Robust AI Demand,&#8217; Company Sees &#8216;Significantly Improved&#8217; Profitability Ahead, Shares Surge</a>
Why It Matters: In recent months, SK Hynix has experienced significant fluctuations in its stock price. Last week, the company&#8217;s shares dropped to their lowest level since February after Morgan Stanley downgraded the stock, citing <a href="https://www.benzinga.com/markets/asia/24/09/40932429/nividia-supplier-sk-hynix-shares-drop-to-lowest-level-since-february-in-seoul-after-morgan-stanley-d">deteriorating memory conditions</a>. This downgrade slashed the target price to 120,000 won from 260,000 won.
Despite this, SK Hynix has been riding a wave of optimism driven by the AI boom. In July, Goldman Sachs and Citigroup predicted <a href="https://www.benzinga.com/news/24/07/39644569/key-nvidia-supplier-sk-hynix-to-get-further-boost-from-ai-demand-even-after-90-stock-surge-goldman-s">further growth for the company</a>, driven by high demand for AI and positive earnings forecasts. Goldman Sachs raised its stock-price target to 290,000 won, while Citigroup increased its prediction to 350,000 won.
Additionally, SK Group, the parent company of SK Hynix, announced a massive <a href="https://www.benzinga.com/news/24/07/39575498/nvidia-suppliers-parent-company-pledges-56b-investment-in-ai-chip-tech-by-2026-as-competition-from-s">$56 billion investment</a> in AI and semiconductor technology by 2026. This investment aims to bolster the company&#8217;s supply chains for emerging technologies, including high-bandwidth memory chips.
Price Action: SK Hynix&nbsp;is currently trading at 180,100 won, with a surge of 8.95% on Thursday. The stock has gained 26.47% year-to-date, according to&nbsp;<a href="https://www.benzinga.com/pro/login" target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>.
Read Next: 
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<li><a href="https://www.benzinga.com/news/24/09/40975105/general-motors-to-lay-off-about-1700-employees-ahead-of-chevrolet-malibu-phase-out-and-re-tooling-fo?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">General Motors To Lay Off About 1700 Employees Ahead Of Chevrolet Malibu Phase-Out And Re-Tooling For EV Production</a></li>
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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NVDA

SSNLF

Nvidia Supplier SK Hynix Soars 9% As Mass Production Of Advanced HBM3E Chips Begins Amid Burgeoning AI Demand

On Wednesday, the Cathie Wood-led Ark Invest made a notable move by selling a significant portion of its stake in Palantir Technologies Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>).
The Palantir Trade: The ARK Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKK#NYSE">ARKK</a>) offloaded 62,809 shares of Palantir. The sale came just days after <a href="https://www.benzinga.com/news/24/09/40991529/what-happened-with-palantir-stock-today">Palantir&#8217;s inclusion in the S&amp;P 500 index</a>, replacing American Airlines Group, Inc. This inclusion could potentially boost Palantir&#8217;s stock as it gains wider exposure to investors and as shares are accumulated to be included in index funds that mirror the S&amp;P 500. Despite the positive news, Ark Invest decided to reduce its exposure to the company.
Moreover, the sale occurred on the same day <a href="https://www.benzinga.com/markets/equities/24/09/41023892/palantir-and-apa-amp-up-ai-alliance-multi-million-dollar-deal-to-transform-oil-gas-operations">Palantir announced a multi-million-dollar extension</a> of its deal with APA Corporation. The deal, which builds on three years of collaboration, introduces new AI capabilities through Palantir's Artificial Intelligence Platform (AIP) software. Despite these developments, Ark Invest&#8217;s move suggests a strategic shift in its investment approach towards Palantir.
The value of the trade, based on Palantir&#8217;s closing price of $37.12 on the same day, is approximately $2.33 million.
See Also: <a href="https://www.benzinga.com/news/24/09/40975105/general-motors-to-lay-off-about-1700-employees-ahead-of-chevrolet-malibu-phase-out-and-re-tooling-fo?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">General Motors To Lay Off About 1700 Employees Ahead Of Chevrolet Malibu Phase-Out And Re-Tooling For EV Production (UPDATED)</a>
Other Key Trades:
<ul>
<li> Ark Invest&#8217;s ARK Genomic Revolution ETF (ARKG) sold shares of Veeva Systems Inc (VEEV) and shares of Butterfly Network Inc (BFLY). </li>
<li>The ARK Autonomous Technology &amp; Robotics ETF (ARKQ) sold shares of Materialise NV (MTLS) and also shares of Vuzix Corp (VUZI). </li>
<li>The ARK Next Generation Internet ETF (ARKW) sold shares of Roku Inc (ROKU). The ARK Space Exploration &amp; Innovation ETF (ARKX) bought shares of Blade Air Mobility Inc (BLDE) and sold shares of Mynaric AG (MYNA).</li>
</ul>
Image via Ark Invest
Read Next: 
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<li><a href="https://www.benzinga.com/news/24/09/40972893/trumps-mars-landing-promise-gets-slammed-by-peter-schiff-even-as-elon-musk-says-spacex-plans-5-launc?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump&#8217;s Mars Landing Promise Gets Slammed By Peter Schiff Even As Elon Musk Says SpaceX Plans 5 Launches</a></li>
</ul>
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

Equities

ETFs

ARKK

PLTR

Cathie Wood's Ark Invest Dumps Palantir Shares Amidst S&P 500 Inclusion And Extended AI Alliance

Leading cryptocurrencies retraced Wednesday, coinciding with the decline in stocks triggered by the downgrade of automobile-related shares.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 9:15 p.m. EDT)</td>
</tr>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>-1.92%</td>
<td>$62,887.90</td>
</tr>
<tr>
<td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>-2.61%</td>
<td>$2,572.07</td>
</tr>
<tr>
<td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>-0.91%</td>
<td>$0.1089</td>
</tr>
</tbody>
</table>
</figure>
What Happened: Bitcoin steadily retreated during U.S. trading hours, falling as low as $62,770, a day after sailing to more than one-month highs.
Whales <a href="https://x.com/ali_charts/status/1838891579450273986">offloaded </a>billions of Bitcoins in the past 24 hours, locking in profits from the previous day&#8217;s highs.
A similar downtrend was observed for Ethereum which fell below $2,600 in midday trading, only to consolidate in the higher $2,500 region for the rest of the day.
Total cryptocurrency liquidations amounted to $93 million in the last 24 hours, with bullish-leveraged traders bearing the brunt of the losses.
Bitcoin's Open Interest slumped more than 3%, further indicating long liquidations.
The market sentiment continued to be "Neutral," according to the popular Cryptocurrency Fear &amp; Greed Index.
Top Gainers (24-Hours)
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 9:30 p.m. EDT)</td>
</tr>
<tr>
<td>Worldcoin (WLD)</td>
<td>+13.57%</td>
<td>$2.08</td>
</tr>
<tr>
<td>Notcoin (NOT)</td>
<td>+2.99%</td>
<td>$0.008202</td>
</tr>
<tr>
<td>UNUS SED LEO (LEO)</td>
<td>+1.84%</td>
<td>$5.85</td>
</tr>
</tbody>
</table>
</figure>
The global cryptocurrency market stood at $2.21 trillion, shrinking 2.01% in the last 24 hours.
Stocks pulled back Wednesday after notching two straight days of record closing. The Dow Jones Industrial Average retreated 293.47 points, or 0.70%, to close at 41,914.75. The broad-based index S&amp;P 500 slid 0.19% to end at 5,722.26. Both the blue-chip indexes closed at record highs. The tech-focused Nasdaq Composite defied the retreat to close marginally higher at 18,082.21.
Auto stocks contributed to the fall after analysts at Morgan Stanley <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/41029378/analyst-ditches-automakers-for-auto-dealers-parts-companies">downgraded stocks</a> of Ford Motor Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) and General Motors Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>). with both retreating 4.14% and 4.89%, respectively.
Investors also<a href="https://www.benzinga.com/real-estate/reit/24/09/41036750/new-us-single-family-home-sales-fall-from-prior-month-but-are-up-from-a-year-ago-as-mortgage-rat"> parsed new single-family home sales data</a> that fell 4.7% in August from the prior month.
See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>
Analyst Notes: Noted cryptocurrency analyst Ali Martinez highlighted the significance of $63,300 as Bitcoin's support level.&nbsp;
"If it holds, BTC can rise to $65,500, but if it doesn&#8217;t, BTC will likely dive to $60,365!" the researcher remarked.
With the top cryptocurrency sliding below the indicated level, it remains to be seen whether Martinez&#8217;s prediction turns out to be correct.
<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">Based on the most recent on-chain activity, $63,300 is the most important support level for <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a>. If it holds, # BTC can rise to $65,500, but if it doesn&#39;t, <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> will likely dive to $60,365! <a href="https://t.co/4RTFQRqClJ">pic.twitter.com/4RTFQRqClJ</a>
&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1838976431222583318?ref_src=twsrc%5Etfw">September 25, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Widely-followed cryptocurrency trader, going by the pseudonym Coach K Crypto drew attention to Bitcoin clocking 88% gains on average in the fourth quarter.
"If we hit that average, we&#8217;re looking at $120,000. Now, imagine what that would do for altcoins," the trader said.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The average <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> gain in Q4 is 88%. If we hit that average, we&#39;re looking at a $120k. $120k. Now, imagine what that would do for alts. &#x1f440;&#x1f440;&#x1f440; <a href="https://t.co/b7wLBFTbFz">pic.twitter.com/b7wLBFTbFz</a>
&mdash; Coach K Crypto (@Coachkcrypto) <a href="https://twitter.com/Coachkcrypto/status/1839098576624037915?ref_src=twsrc%5Etfw">September 26, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Photo by stockphoto-graf on Shutterstock
Read Next:    
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/09/41032465/mark-cuban-is-one-of-kamala-harris-most-effective-surrogates-says-former-sc-house-rep-baka">Mark Cuban Is &#8216;One Of Kamala Harris&#8217; Most Effective Surrogates,&#8217; Says Former SC House Rep Bakari Sellers — And He&#8217;s Got A Crypto History</a></li>
</ul>

$DOGE

Bitcoin, Ethereum, Dogecoin Pull Back As Auto Stocks Trigger Equities Decline: Analyst Forecasts King Crypto's Fall To $60.36K Because Of This Reason

ChatGPT-maker OpenAI is reportedly transitioning from a non-profit to a <a href="https://www.benzinga.com/news/24/08/40647123/elon-musk-questions-legality-of-openai-going-from-non-profit-to-for-profit-amid-apple-nvidia-investm">for-profit benefit corporation</a>. The AI startup&#8217;s CEO Sam Altman could receive equity in the newly structured company.
What Happened: OpenAI is revamping its business structure to make it more attractive to investors.
The&nbsp;non-profit board will no longer govern the company, although the non-profit entity will retain&nbsp;a minority stake in the&nbsp;for-profit company, reported Reuters, citing people familiar with the matter.
The restructuring could potentially affect the company&#8217;s management of AI risks under the new governance model.
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/09/40999352/steve-jobs-and-steve-wozniak-once-pranked-the-pope-by-pretending-to-be-henry-kissinger-im-just-calli?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Steve Jobs And Steve Wozniak Once Pranked The Pope By Pretending To Be Henry Kissinger: &#8216;I&#8217;m Just Calling To Make A Confession,&#8217; Said One Apple Co-Founder</a>
Altman is set to receive equity&nbsp;in the for-profit company, which&nbsp;could be <a href="https://www.benzinga.com/news/24/09/40825072/openais-valuation-could-skyrocket-to-150b-in-new-fundraising-positioning-it-among-the-worlds-most-va">valued at $150 billion</a> post-restructuring. The company is also considering removing&nbsp;the cap on returns for&nbsp;investors.
An OpenAI spokesperson told Reuters,&nbsp;&#8220;We remain focused on building AI that benefits everyone, and we're working with our board to ensure that we're best positioned to succeed in our mission. The non-profit is core to our mission and will continue to exist.&#8221;
The restructuring plan is still being finalized with lawyers and shareholders, and the timeline remains uncertain.
The transition from&nbsp;non-profit control could make OpenAI&nbsp;operate more like a typical&nbsp;startup, a move generally welcomed&nbsp;by its investors.
However, it could also raise&nbsp;concerns from the AI safety&nbsp;community about the lab&#8217;s governance in its pursuit of AGI, the report noted.
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: This development comes amid leadership changes at OpenAI, with the company&#8217;s CTO Mira Murati <a href="https://www.benzinga.com/news/24/09/41037848/openai-cto-mira-murati-steps-down-i-want-to-create-the-time-and-space-to-do-my-own-exploration-elon">announcing her departure</a> and president Greg Brockman currently on sabbatical.
OpenAI was established&nbsp;in 2015 as a non-profit&nbsp;AI research organization. It launched&nbsp;the for-profit OpenAI LP entity&nbsp;in 2019, securing capital from&nbsp;Microsoft Corporation&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>).
Tesla and SpaceX CEO Elon Musk, who co-founded the company and later left it in 2018 over some differences, has repeatedly spoken against OpenAI&#8217;s transition.
&#8220;Either turning a non-profit into a for-profit is legal and everyone should be doing it or it's illegal and OpenAI is a house of cards,&#8221; he said in August earlier this year.
Previously, it was reported that OpenAI's next funding round is anticipated to include convertible notes, with a potential valuation of $150 billion. This <a href="https://www.benzinga.com/news/24/09/40864744/openais-150b-valuation-hinges-on-whether-sam-altman-led-ai-startup-can-remove-profit-cap-for-investo">valuation will hinge on</a> whether the company can restructure and remove the current profit cap for investors.
Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
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Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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MSFT

OpenAI's Restructure: From Non-Profit To Potential $150B For-Profit — Sam Altman Could Get Equity

An arbitration board has ruled in favor of Nippon Steel Corp (OTC:<a class="ticker" href="https://www.benzinga.com/stock/NPSCY#OTC">NPSCY</a>) in <a href="https://www.benzinga.com/m-a/24/09/40907796/us-steel-ceo-confident-nippon-deal-will-succeed-despite-biden-opposition-we-live-by-a-code">its $14.9 billion acquisition</a> of United States Steel Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/X#NYSE">X</a>). The decision was announced on Wednesday.
What Happened: The arbitration panel, chosen by both the company and the United Steelworkers (USW) union, determined that U.S. Steel had met all conditions of the successorship clause in its labor agreement with the USW. Reuters reported that the USW remains opposed to the deal despite this ruling.
&#8220;The arbitrators accepted at face-value Nippon Steel&#8217;s statement that it would assume the Basic Labor Agreement,&#8221; the USW stated. However, the union&#8217;s opposition to the acquisition remains unchanged.
Nippon Steel expressed its commitment to maintaining a productive relationship with the USW, emphasizing that its commitments extend beyond the current labor agreement. 
The deal, initially signed last December, has faced political resistance, with both Democratic candidate Kamala Harris and Republican challenger Donald Trump advocating for U.S. Steel to remain American-owned.
See Also: <a href="https://www.benzinga.com/markets/equities/24/09/40973189/teslas-chinese-rival-byd-plans-to-assemble-evs-in-pakistan-after-india-said-no-we-have-big-ambit?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Tesla&#8217;s Chinese Rival BYD Plans To Assemble EVs In Pakistan After India Said No: &#8216;We Have Big Ambitions&#8217;</a>
Nippon Steel aims to finalize the acquisition by the end of December, pending regulatory approval. The company has resubmitted its application to the U.S. national security panel, delaying the decision until after the Nov. 5 presidential election.
Why It Matters: The arbitration board&#8217;s decision is a significant milestone in the ongoing Nippon Steel&#8217;s $14.9 billion acquisition of U.S. Steel. The deal has been under intense scrutiny, particularly from <a href="https://www.benzinga.com/government/24/09/40922003/us-steel-merger-faces-post-election-decision-as-national-security-fears-stall-nippon-deal">the U.S. national security panel</a>, which has postponed its decision until after the presidential election due to concerns over national security and the steel supply chain.
Political figures such as Harris and Trump have voiced their opposition to the acquisition, arguing that U.S. Steel should <a href="https://www.benzinga.com/markets/equities/24/09/40912183/amid-trump-and-harris-opposition-to-nippon-steels-14b-bid-for-us-steel-national-security-panel-t">remain American-owned</a>. This political resistance adds another layer of complexity to the deal. 
Despite these challenges, U.S. Steel CEO David Burritt remains <a href="https://www.benzinga.com/m-a/24/09/40907796/us-steel-ceo-confident-nippon-deal-will-succeed-despite-biden-opposition-we-live-by-a-code">optimistic about the merger&#8217;s success</a>. He believes that the deal will benefit both shareholders and employees, and he is confident that it will pass the Committee on Foreign Investment in the United States (CFIUS) scrutiny. 
U.S. Steel has also been performing well despite global challenges, with strong domestic demand and positive earnings guidance for the <a href="https://www.benzinga.com/markets/equities/24/09/40945504/u-s-steel-powers-through-pricing-pressures-domestic-demand-holds-strong-despite-global-challenge">third quarter of 2024</a>. 
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

NPSCY

Amid Resistance From Harris And Trump, Nippon Steel Scores Favorable Arbitration Ruling In $14.9B US Steel Acquisition Deal

On Wednesday, major U.S. indices closed with mixed results. The Dow Jones Industrial Average fell 0.7% to 41,914.75, and the S&amp;P 500 dipped 0.2% to 5,722.26, while the Nasdaq inched up by 0.04% to 18,082.21.
These are the top stocks that gained the attention of retail traders and investors throughout the day:
Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>)
Meta&#8217;s stock increased by 0.88%, closing at $568.31. The intraday high and low were $576.88 and $563.72 respectively, with the 52-week high and low being $576.88 and $279.4. At the <a href="https://www.benzinga.com/news/24/09/41032461/meta-unveils-new-ai-features-quest-3s-llama-3-2-holographic-orion-glasses-at-connect-2024-we-are-get">Meta Connect 2024 event</a>, CEO Mark Zuckerberg announced several new product developments, indicating that the future of computing and human connection is already here.
DraftKings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DKNG#NASDAQ">DKNG</a>)
DraftKings shares rose by 5.01% to close at $41.10, with an intraday high and low of $41.98 and $40.16 respectively. The 52-week high and low are $49.57 and $25.74. The stock&#8217;s gain is likely due to the <a href="https://www.benzinga.com/markets/equities/24/09/41030297/why-is-draftkings-stock-gaining-today">positive guidance</a> issued by Flutter Entertainment for 2027, which operates in the same sector as DraftKings.
See Also: <a href="https://www.benzinga.com/markets/cannabis/24/09/41012794/gov-newsoms-hemp-ban-goes-into-effect-consequences-for-industry-investors-patients?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">California Governor&#8217;s Ban On Hemp Is Live: Consequences</a>
Costco Wholesale Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COST#NASDAQ">COST</a>)
Costco&#8217;s shares increased by 0.76%, closing at $908.42. The intraday high and low were $910.36 and $901.13 respectively, with the 52-week high and low being $923.83 and $540.23. The company is expected to highlight its recent membership fee increase and its impact on guidance when it <a href="https://www.benzinga.com/trading-ideas/previews/24/09/41034748/costco-q4-earnings-preview-membership-fee-increase-visitor-growth-top-items-to-watch">reports its fourth-quarter financial results</a>.
Micron Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>)
Micron&#8217;s shares rose by 1.88% to close at $95.77, with an intraday high and low of $96.18 and $93.93 respectively. The 52-week high and low are $157.54 and $63.83. The company reported <a href="https://www.benzinga.com/news/earnings/24/09/41034733/micron-q4-earnings-revenue-eps-beat-on-robust-ai-demand-company-sees-significantly-improved-profita">fourth-quarter revenue</a> of $7.75 billion, beating the consensus estimate, and its adjusted earnings also exceeded analyst estimates.
Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)
Tesla&#8217;s shares increased by 1.08%, closing at $257.02. The intraday high and low were $257.05 and $252.28 respectively, with the 52-week high and low being $271 and $138.8. The company is set to <a href="https://www.benzinga.com/news/24/09/41027049/tesla-returns-to-paris-motor-show-for-first-time-in-6-years-cybertruck-to-be-featured-will-elon-musk">return to the Paris Motor Show</a> in October, marking an exciting month for the electric vehicle sector and investors.
Photo by Phongphan on Shutterstock
Prepare for the day&#8217;s trading <a href=""Premarket">with top premarket movers and news</a> by Benzinga.
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

COST

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Meta Platforms, DraftKings, Costco, Micron Technology, Tesla: Why These 5 Stocks Are On Investors' Radars Today

Fox News anchor Bret Baier has pointed the finger at former President Donald Trump, not Vice President Kamala Harris, for the delay in organizing a second debate between the two candidates before Election Day.
What Happened: Baier expressed his belief on conservative radio host Hugh Hewitt's program that the Harris campaign would agree to a Fox debate, if Trump hadn&#8217;t decided against another debate. Baier, despite being in regular contact with both campaigns, stated, "The holdup is not the Harris campaign and Fox. It is the former president," <a href="https://thehill.com/homenews/media/4898291-bret-baier-trump-not-harris-debate-holdup-fox-news/">reported</a> The Hill on Wednesday.
Earlier this month, Trump and Harris had a debate hosted by ABC News, where Harris was perceived by voters as the winner. Over the weekend, Harris accepted an invitation from CNN for a second debate next month, an offer that Trump has declined, citing early voting already underway in some states.
Trump had previously advocated for a debate on Fox, a channel that features hosts who are supportive of the Republican nominee. However, he indicated a preference for one of the channel's prime-time opinion hosts to moderate a debate instead of Baier or Martha MacCallum, another leading news anchor on the network.
See Also: <a href="https://www.benzinga.com/news/24/09/40972994/bernie-sanders-questions-why-your-monthly-ozempic-prescription-costs-more-than-a-luxury-handbag-when?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bernie Sanders Questions Why Your Monthly Ozempic Prescription Costs More Than A Luxury Handbag When It Can Be Sold For Less Than $100</a>
Why It Matters: This development comes after Trump&#8217;s <a href="https://www.benzinga.com/news/23/08/34016087/ahead-of-tucker-carlson-interview-donald-trump-lashes-out-at-fox-news-gop-debate-host-bret-baier">public criticism</a> of Baier and Fox News ahead of a GOP primary debate. Trump had expressed his dissatisfaction with Baier and Fox News&#8217; coverage of GOP primary polls on the Truth Social platform.
In July, <a href="https://www.benzinga.com/general/politics/24/07/39967679/trump-vs-harris-fox-news-proposes-another-2024-presidential-debate-how-media-company-could-be-bi">Fox News proposed another 2024 Presidential debate</a> after President Joe Biden dropped out of the race. This would have allowed voters to view two presidential debates between Trump and Harris.
Despite Harris accepting an invitation for a CNN debate scheduled for October, Trump <a href="https://www.benzinga.com/news/24/09/40971448/kamala-harris-ready-to-face-off-in-second-debate-but-donald-trump-says-its-too-late">declined the offer</a> citing the start of early voting in several states and questioning CNN's impartiality as a debate moderator.
The <a href="https://www.benzinga.com/general/entertainment/24/09/40840076/trump-vs-harris-presidential-debate-viewership-tops-trump-biden-total-but-falls-short-of-re">first debate between Trump and Harris</a> was watched by 67.1 million people, topping the 51.3 million total from the June debate between Trump and Biden.
Image via Shutterstock
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

Politics

General

It's Trump, Not Harris, Says Fox Anchor Bret Baier On Delayed Second Debate

OpenAI&#8217;s CTO Mira Murati has <a href="https://www.benzinga.com/markets/equities/23/11/35863395/who-is-mira-murati-a-look-at-openais-interim-ceo-following-sam-altmans-stunning-exit">announced her departure</a> from ChatGPT-parent, following the exit of several high-profile members of the company. This has sparked speculation about the future of the AI startup.
What Happened: On Tuesday, Murati shared a memo with the OpenAI team which she later posted on X, formerly Twitter.
In the memo, she said, &#8220;After much reflection, I have made the difficult decision to leave OpenAI,&#8221; adding, &#8220;There's never an ideal time to step away from a place one cherishes, yet this moment feels right.&#8221;
Murati also gave an indication of what she intends to do after leaving OpenAI.
&#8220;I&#8217;m stepping away because I want to create the time and space to do my own exploration. For now, my primary focus is doing everything in my power to ensure a smooth transition, maintaining the momentum we've built,&#8221; she stated.
See Also: <a href="https://www.benzinga.com/news/24/09/41020589/tech-youtuber-mkbhd-responds-after-facing-massive-backlash-over-his-new-12-a-month-wallpaper-app?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Tech YouTuber MKBHD Responds After Facing Massive Backlash Over His New $12 A Month Wallpaper App</a>
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I shared the following note with the OpenAI team today. <a href="https://t.co/nsZ4khI06P">pic.twitter.com/nsZ4khI06P</a>
&mdash; Mira Murati (@miramurati) <a href="https://twitter.com/miramurati/status/1839025700009030027?ref_src=twsrc%5Etfw">September 25, 2024</a></blockquote>
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Following the announcement, a user on X shared an old image of OpenAI CEO Sam Altman along with Murati, co-founder and former president Greg Brockman, and former chief scientist at the company, Ilya Sutskever.
The image had crosses on all three members apart from Altman, signifying they are no longer part of the ChatGPT-maker.
In response to the post, Tesla and SpaceX CEO Elon Musk, who co-founded OpenAI in 2015 and <a href="https://www.benzinga.com/news/24/06/39283661/elon-musk-drops-openai-lawsuit-involving-sam-altman-greg-brockman-a-day-after-blasting-apple-for-par">left the company in 2018</a> over some differences, posted a grimacing face emoji.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">&#x1f62c;
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1839043155435442459?ref_src=twsrc%5Etfw">September 25, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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Why It Matters: Last November, the <a href="https://www.benzinga.com/news/23/11/35916508/openai-drama-timeline-all-the-twists-and-turns-starring-sam-altman">OpenAI board ousted Altman</a>, citing a lack of candor in his communications.
At the time, Murati was appointed interim CEO, a move that led to an open letter from employees threatening to leave. Altman was later reinstated, and Murati returned to her role as CTO.
Murati&#8217;s departure is the latest in a series of high-profile exits from OpenAI. Earlier in May, Sutskever, along with Jan Leike, who led the "superalignment" team, <a href="https://www.benzinga.com/news/24/05/38834519/openai-chief-scientist-ilya-sutskever-steps-down-ceo-sam-altman-calls-him-a-guiding-light-of-ai-fiel">resigned from OpenAI</a>.
While Sutskever went on to start his own AI startup named Safe Superintelligence (SSI), <a href="https://www.benzinga.com/news/24/05/39058674/openai-former-superalignment-lead-joins-jeff-bezos-backed-rival-anthropic-days-after-quitting-sam-al">Leike decided to join</a> Anthropic, a competitor of ChatGPT-parent.
In August, OpenAI president Greg Brockman <a href="https://www.benzinga.com/news/24/08/40177350/openai-president-greg-brockman-says-hes-taking-a-sabbatical-through-end-of-year-but-admits-mission-f">announced a sabbatical</a>. At the same time, John Schulman, another OpenAI co-founder announced that he will be joining Anthropic.
Check out more of Benzinga's Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
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Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.

OpenAI CTO Mira Murati Steps Down: 'I Want To Create The Time And Space To Do My Own Exploration…' — Elon Musk Highlights Talent Exodus

Democratic presidential nominee Kamala Harris reaffirmed her support for emerging technologies like blockchain and artificial intelligence, days after mentioning cryptocurrencies for the first time on the campaign trail.
What happened: While outlining her economic proposals during a speech at The Economic Club of Pittsburgh, the vice president said, " I will recommit the nation to global leadership in the sectors that will define the next century. We will invest in biomanufacturing and aerospace, remain dominant in AI and quantum computing, blockchain, and other emerging technologies."
The support aligned with Harris' goals of boosting America's industrial might as it was tied to the nation's overall economic strength.
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<iframe loading="lazy" title="Vice President Kamala Harris on the Economy - Live from Pittsburgh, Pennsylvania &#x7C; Harris-Walz 2024" width="500" height="281" src="https://www.youtube.com/embed/XokApnr_Cak?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
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See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40994028/elon-musk-dons-his-maga-hat-to-meet-pro-bitcoin-president-javier-milei-duo-discuss-argenti">Elon Musk Dons His MAGA Hat To Meet Pro-Bitcoin President Javier Milei: Duo Discuss Argentina&#8217;s Journey To Normalcy</a>
Why It Matters: The latest mention came just a few days after Harris<a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40972902/kamala-harris-finally-mentions-crypto-and-that-too-on-wall-street-promises-to-encourage-in"> formally referenced cryptocurrencies</a> for the first time as part of her campaign for the high-stakes November election.
The presidential hopeful promised to protect the interests of people involved in "innovative technologies like AI and digital assets."
The ongoing election season has witnessed a considerable increase in emphasis on cryptocurrencies and blockchains, owing largely to former President Donald Trump&#8217;s promise <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/40001426/trump-aims-to-make-us-crypto-capital-of-the-planet-well-get-it-done">to implement various cryptocurrency-friendly policies </a>if elected.
But with Harris finally putting her cards on the table, the coming days could see a more aggressive bid by the two leaders to court the cryptocurrency demographic.&nbsp;
A <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40850166/nba-legend-scottie-pippen-continues-to-be-bullish-on-bitcoin-after-satoshi-nakamoto-told-h">report </a>by CNBC indicated that Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) had the potential to hit six figures irrespective of who emerged victorious in the November election.
Price Action: At the time of writing, Bitcoin was exchanging hands at $62,887.86, down 2.13% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>. 
Image via Shutterstock
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Kamala Harris Strengthens Crypto Stance: The US Will 'Remain Dominant In AI And Quantum Computing, Blockchain, And Other Emerging Technologies'

The recent U.S. visit by Ukrainian President Volodymyr Zelensky has sparked outrage among GOP figures, leading to an investigation by a House panel. The visit, which included a tour of a munitions factory in Pennsylvania, has been criticized by Republicans who believe it was a politically motivated campaign stop for Vice President Harris.
What Happened: According to The Hill, Speaker Mike Johnson (R-La.) has demanded the dismissal of Ukraine&#8217;s U.S. ambassador, alleging election interference. House Oversight and Accountability Chair James Comer (R-Ky.) initiated the investigation into Zelensky&#8217;s trip, which saw him accompanied by Pennsylvania Democrats.
Johnson and Comer argue that the visit was politically motivated, with Johnson stating in a letter to Zelensky, &#8220;The tour was clearly a partisan campaign event designed to help Democrats and is clearly election interference.&#8221; He also demanded the immediate dismissal of Ukraine's Ambassador to the United States, Oksana Markarova.
See Also: <a href="https://www.benzinga.com/news/24/09/40950674/data-scientist-who-called-2020-election-correctly-says-its-gone-from-drastic-landslide-in-trumps-dir?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Data Scientist Who Called 2020 Election Correctly Says Its Gone From &#8216;Drastic Landslide In Trump&#8217;s Direct</a>
Democrats have dismissed these accusations, with Rep. Jamie Raskin (D-Md.) stating that the Republicans were turning their back on an important U.S. ally. Zelensky&#8217;s visit was described by Pennsylvania as a gesture of gratitude to the workers playing a vital role in Ukraine&#8217;s defense.
Why It Matters: Before his U.S. visit, Zelensky was set to discuss his "victory plan" to <a href="https://www.benzinga.com/news/24/09/40975071/ukraines-zelenskyy-heads-to-us-to-present-victory-plan-against-russia-to-biden-as-war-drags-for-over">end the war with Russia</a> with key American leaders. During his visit, he urged Western leaders to <a href="https://www.benzinga.com/news/24/09/41019024/ukraines-zelenskyy-urges-west-for-forcing-russia-to-peace-while-kremlin-slams-un-for-turning-a-blind">take decisive action</a> to compel Russia into ending the war.
In an interview with The New Yorker, Zelensky criticized Sen. J.D. Vance&#8217;s (R-Ohio.) views on Ukraine, calling him &#8220;too radical&#8221;. Donald Trump has asserted that Zelensky <a href="https://www.benzinga.com/news/24/09/40998738/trump-says-ukrainian-president-backs-kamala-harris-for-white-house-zelenskyy-is-the-greatest-salesma">prefers the Democrats</a> to win the upcoming 2024 U.S. election.
Image via Shutterstock
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

Mike Johnson Lashes Out Over Weapons Factory Tour Snub, Cries Election Interference To Ukraine President — Wants Ambassador Fired

Elon Musk recently posted on X about a conversation between Joe Rogan and Chamath Palihapitiya where they discussed Republican presidential candidate Donald Trump.
What Happened: On a Wednesday, Musk shared a post highlighting a discussion between Rogan and Palihapitiya. The conversation revolved around the media&#8217;s depiction of Trump and the Charlottesville &#8220;Very Fine People&#8221; hoax among other topics.
The SpaceX and Tesla CEO said &#8220;good points&#8221; were made in the conversation between the Spotify podcaster and the renowned venture capitalist often dubbed as &#8220;SPAC King.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Good points <a href="https://t.co/bXjyDLZvvb">https://t.co/bXjyDLZvvb</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1839043088833995194?ref_src=twsrc%5Etfw">September 25, 2024</a></blockquote>
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Palihapitiya expressed his surprise at Trump&#8217;s personality, describing him as &#8220;very funny, very kind, very polite.&#8221; He also <a href="https://www.benzinga.com/general/entertainment/24/09/41037022/chamath-palihapitiya-tells-joe-rogan-that-trump-harris-have-to-act-on-the-border-i-think-th">voiced his frustration</a> with the media&#8217;s misrepresentation of Trump&#8217;s comments during the Charlottesville press conference.
&#8220;I met him and spent time with him&#8230; Donald Trump. Very funny. Very kind. Very polite. Like, he talks to you&#8230; I was expecting something totally different&#8230; He&#8217;s as good as any comedian,&#8221; said Palihapitiya.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40993290/trump-vs-harris-2024-election-betting-odds-show-vice-president-maintains-lead-as-race-near?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Vs. Harris: 2024 Election Betting Odds Show Vice President Maintains Lead As Race Nears One-Month Mark</a>
Why It Matters: Palihapitiya has previously shared his thoughts on immigration and how the media portrays Trump during a sit-down interview with Rogan. He believes that the winner of the 2024 election will have to act on the immigration crisis, according to a previous Benzinga story.
Palihapitiya also has a different view on the likely contenders for the 2024 general election. He believes that the contender who understands the <a href="https://www.benzinga.com/news/23/09/34898795/chamath-palihapitiya-thinks-maga-supporters-might-back-this-38-year-old-trump-instead-of-desantis-fo">need for no more wars</a> and zero-based budgeting for the U.S. government will garner many votes. 
Interestingly, Palihapitiya has previously stated that he would rather vote for JPMorgan Chase CEO Jamie Dimon to be the next U.S. president over Joe Biden, Trump, or anyone else.
Palihapitiya also described his meeting with Vice President Kamala Harris to Rogan. He disclosed that he had lunched with the Democratic nominee and that she was &#8220;very kind, very nice person.&#8221;
Photo by TechCrunch on Flickr
Did You Know?
<ul>
<li>Congress Is Making Huge Investments. <a href="https://www.benzinga.com/gov-trades">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

Elon Musk Gives A Nod To Chamath Palihapitiya's Description Of Trump On Joe Rogan's Show: 'Very Funny. Very Kind. Very Polite'

<a href="https://www.bloomberg.com/news/articles/2024-09-25/olympics-caterer-sodexo-is-said-to-weigh-acquisition-of-aramark?embedded-checkout=true" title="https://www.bloomberg.com/news/articles/2024-09-25/olympics-caterer-sodexo-is-said-to-weigh-acquisition-of-aramark?embedded-checkout=true">https://www.bloomberg.com/news/articles/2024-09-25/olympics-caterer-sodexo-is-said-to-weigh-acquisition-of-aramark?embedded-checkout=true</a>

ARMK

SDXAY

Bloomberg Reported Sodexo Weighs Acquisition Of Aramark

Billionaire Chamath Palihapitiya shared his thoughts on immigration and how the media portrays Donald Trump during a sit-down interview with Joe Rogan, who remains one of the <a href="https://www.benzinga.com/general/entertainment/23/11/36004998/joe-rogan-tops-spotifys-2023-podcasts-list-once-again-deal-likely-to-expire-in-2024-a-major">most popular podcasters.</a>
Chamath On Immigration: The topic of immigration is one of the top voter issues in <a href="https://www.benzinga.com/topic/2024-election">the 2024 election </a>and Palihapitiya believes whoever wins the election will have to act on the crisis.
"Both of them will probably have to act," Palihapitiya <a href="https://www.youtube.com/watch?v=we-mZ-KTe-8">said</a> on episode #2206 of &#8220;The Joe Rogan Experience.&#8221; 
Palihapitiya said he likes to give both candidates the benefit of the doubt on the issue, despite Rogan criticizing the current Biden administration, which includes Vice President Kamala Harris, not doing enough.
"I think that Donald Trump has had a clearer view of this issue for much far longer. I think that Kamala has had to shift her position."
The billionaire investor said the two political sides likely differ about how to handle immigration and foreign policy.
Rogan said there are pros and cons of immigration, citing the need for cheap labor. The podcast host questions if there is an incentivized effort to bring people into the country illegally and buying the vote, as he says Elon Musk has alleged.
Did You Know?
<ul>
<li>Congress Is Making Huge Investments. <a href="https://www.benzinga.com/gov-trades/?utm_source=BZprocontent092524">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>
Chamath on Media: When it comes to how Donald Trump is portrayed by the media, Palihapitiya said the media lies about him, including a comment about "very fine people" said during a speech in Charlottesville.
"I met him and spent time with him," Palihapitiya said of Trump.
The billionaire investor said Trump was kind and "he talks to you," which he wasn't expecting due to the media's portrayal of the former president.
"I think the media really gets tilted."
Rogan said Trump&#8217;s flaws are nothing compared to how the media depicts him, which Palihapitiya agreed with and said Trump's flaws are well described already.
The media's depiction of Trump could have a negative impact, the investor added.
"The trust in the mainstream media is the lowest it has ever been."
Palihapitiya said he's also had "lunch with Kamala" and said she was very kind and a "very nice person."
Musk <a href="https://x.com/elonmusk/status/1839043088833995194">shared </a>a clip on Palihapitiya and Rogan discussing the media's depiction of Trump and said that they had "good points."
Read Next: 
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<li><a href="https://www.benzinga.com/news/24/08/40306405/after-trump-slams-joe-rogan-for-rfk-jr-endorsement-podcast-host-walks-back-remarks-saying-im-not-the">After Trump Slams Joe Rogan For RFK Jr Endorsement, Podcast Host Walks Back Remarks, Saying &#8216;I&#8217;m Not The Guy To Get Political Information From&#8217;</a></li>
</ul>
Photo: Featureflash Photo Agency on Shutterstock

Entertainment

Chamath Palihapitiya Tells Joe Rogan That Trump, Harris Have To Act On The Border: 'I Think That Donald Trump Has Had A Clearer View Of This Issue'

Toria Lyttle, a 43-year-old mother from Newtownards, in Northern Ireland, turned to medical marijuana to manage her severe migraines, which have plagued her since <a href="https://www.benzinga.com/markets/cannabis/23/12/36228666/the-kids-are-alright-government-study-finds-teen-cannabis-use-holds-steady-despite-increased-sta">childhood. </a>
With monthly prescription costs reaching up to 350 pounds sterling ($366), Toria's case underscores the ongoing challenges of accessing alternative treatments for chronic pain in the UK, <a href="https://www.wfxg.com/news/health-news-now/mom-says-cannabis-cured-migraines-she-s-had-for-30-years/article_507b97f9-28a9-5d62-8377-7cff579f533a.html">reported</a> Fox 54 News.
See Also: <a href="https://www.benzinga.com/markets/cannabis/23/04/31728661/can-marijuana-help-with-migraines-ms-related-chronic-pain-new-clinical-guidelines-are-here">Can Marijuana Help With Migraines? MS-Related Chronic Pain? New Clinical Guidelines Are Here</a>
<h3 class="wp-block-heading">Living With Chronic Migraines</h3>
Toria has battled migraines since she was nine. The situation became worse when doctors diagnosed her with a benign brain tumor three years ago.
Despite the diagnosis, her migraines persisted, leading to years of disrupted sleep, pain and an inability to live her life fully. "I've lived with these awful migraines my whole life, but no one could ever tell me why I suffered with them," Toria said.
Before turning to medical cannabis, she had been prescribed various painkillers, none of which eased her symptoms, often making her feel worse. Desperate for a solution, Toria approached her doctor in September 2023 about trying medical marijuana.
<h3 class="wp-block-heading">Turning To Medical Cannabis</h3>
After consulting with a specialist at the private medical cannabis clinic Alternaleaf, Toria received a prescription for 30 grams of THC-containing cannabis each month. She now vapes two to four doses daily, depending on the severity of her symptoms. She says the change has been transformative.
"Medicinal cannabis has allowed me to live again," she said. "It has lightened my world because I don't feel terrified about the next migraine anymore and it's much fairer for the people around me, too, because my temper is so much better."
Though the cannabis has not eliminated her pain entirely, it has significantly improved her condition, allowing her to sleep through the night and function during the day. 
"It hasn't taken the pain away completely, but I can manage it now," she added.
<h3 class="wp-block-heading">Cannabis Study Confirms Efficacy For Migraine Sufferers</h3>
Meanwhile, research presented at the 2023 American Headache Society Annual Meeting validates the effectiveness of cannabis for migraines, echoing the life-changing relief experienced by Lyttle. 
The <a href="https://www.benzinga.com/markets/cannabis/23/06/32914574/vaporized-cannabis-a-promising-migraine-treatment-suggests-study-at-american-headache-society-me">study</a>, led by Dr. Nathaniel Schuster, found that a combination of THC and CBD significantly reduced migraine symptoms within two hours of use.
Patients were randomly assigned to either tetrahydrocannabinol (THC) 6%, a mix of THC and cannabinoid (CBD) 11%, CBD 11% and placebo cannabis.
&#8220;The doses that we used are probably lower than what a lot of people out there are using on their own, and higher doses do not necessarily mean more effective,&#8221; Schuster said. &#8220;The highness patients were having in the study was not very high, probably somewhere between a 2-4 out of 10 on subjective highness."
Migraines&nbsp;affect&nbsp;47 million Americans,&nbsp;75%&nbsp;of whom are women. Although a splitting&nbsp;headache is one symptom, migraine attacks can include visual disturbances, nausea, extreme light and sound sensitivity, brain fog and debilitating pain.
Read Next: 
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<li><a href="https://www.benzinga.com/general/biotech/24/07/39843370/tevas-migraine-treatment-found-effective-for-children-as-young-as-6">Teva&#8217;s Migraine Treatment Found Effective For Children As Young As 6</a></li>
</ul>
Cover image made with AI.

Cannabis

Health Care

Chronic Migraines And Cannabis: How One Mom Found Relief After A Lifetime Of Pain

Florida Gov. <a href="https://www.benzinga.com/topic/ron-desantis">Ron DeSantis</a> (R) faces a public relations lashing for leveraging a taxpayer-funded advertisement to influence voters against the marijuana legalization measure, known as <a href="https://www.benzinga.com/markets/cannabis/24/04/38034138/florida-supreme-court-approves-cannabis-legalization-proposal-for-november-election-in-blow-to-d">Amendment 3</a>, which will be decided upon in the <a href="https://www.benzinga.com/topic/2024-election">November 2024 election</a>. 
The ad, produced by the Florida Department of Transportation, warns against the dangers of driving under the influence of cannabis.
In the middle of the 30-second video warning viewers not to drive high, the narrator says, "DUI crashes increase in states with legalized marijuana, putting everyone at risk."
<h1 class="wp-block-heading">Outrage Ensues</h1>
The ad sparked anger among advocates with Smart &amp; Safe Florida, the campaign that helped put Amendment 3 on the ballot. The campaign called the DeSantis-backed Vote No on 3 political committee of using state resources to amplify an opposition talking point at a lower cost by channeling the message through a government agency.
The campaign sent cease and desist letters to about 50 news stations across Florida. In it, the group condemns the use of taxpayer money to disseminate what they call a "ruse to obtain the highly discounted rates" for airing PSAs.
"Florida law demands that campaigns be operated in the sunshine," the Smart &amp; Safe letter said. "Accepting taxpayer funds to broadcast State Propaganda under the guise of a public service announcement — and at an anticompetitive and severely discounted rate — should not be countenanced."
The campaign also criticized the refusal of TV stations to air what Smart &amp; Safe called a &#8220;politically neutral&#8221; alternative, accusing them of participating in a scheme to secure discounted rates for the ad. The news was&nbsp;<a href="https://subscriber.politicopro.com/article/2024/09/florida-pot-legalization-psa-00180788?source=email" target="_blank" rel="noreferrer noopener">first reported by Politico</a>&nbsp;on Tuesday.
Suggesting a direct link between marijuana legalization and increased impaired driving is seen as misleading, with some research indicating mixed results on the matter. Federal reports have also stated that the impact of cannabis on driving is not yet fully understood.
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/09/41016011/florida-cannabis-ballot-nfls-ricky-williams-backs-legalization-new-ad-hypocrisy-of-alcohol-vs-ma">Florida Cannabis Ballot: NFL&#8217;s Ricky Williams Backs Legalization, New Ad &#8216;Hypocrisy Of Alcohol Vs. Marijuana&#8217;</a>
<h1 class="wp-block-heading">GOP and Dem Politicians Weigh In</h1>
The controversy has drawn further attention from political figures like <a href="https://www.benzinga.com/topic/nikki-fried">Nikki Fried,</a> chair of the Florida Democratic Party, who criticized DeSantis for using public funds to campaign against not only the marijuana legalization initiative but a separate reproductive rights measure, known as Amendment 4.
Meanwhile, <a href="https://www.benzinga.com/markets/cannabis/24/09/40969689/desantis-urges-gop-to-oppose-cannabis-legalization-as-party-splits-over-trump-marijuana-endorsem">Jeff Brandes</a>, a former Republican state senator, warned that the governor&#8217;s actions set a dangerous precedent, suggesting that such use of public funds may not be permissible under Florida&#8217;s budget.
Now Read:
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<li><a href="https://www.benzinga.com/markets/cannabis/24/09/40969689/desantis-urges-gop-to-oppose-cannabis-legalization-as-party-splits-over-trump-marijuana-endorsem">DeSantis Urges GOP To Oppose Cannabis Legalization As Party Splits Over Trump Marijuana Endorsement</a></li>
</ul>
Photo: Benzinga&nbsp;edit of image by&nbsp;<a href="https://unsplash.com/fr/@mrbrodeur?utm_source=unsplash&amp;utm_medium=referral&amp;utm_content=creditCopyText" target="_blank" rel="noreferrer noopener">Matthew Brodeur</a>&nbsp;on&nbsp;<a href="https://unsplash.com/photos/qcCPIhhdgTw?utm_source=unsplash&amp;utm_medium=referral&amp;utm_content=creditCopyText" target="_blank" rel="noreferrer noopener">Unsplash</a>&nbsp;and Wikimedia Commons

Government

Regulations

DeSantis Provokes Outrage Over Taxpayer-Funded Ads Linking Marijuana Legalization To Car Crashes

Sales of single-family homes fell last <a href="https://www.benzinga.com/real-estate/24/06/39465243/u-s-home-sales-decline-for-third-month-as-record-prices-pose-persistent-affordability-challenges-dur">month from July </a>but rose from a year ago as mortgage rates kept falling.
New single-family home sales fell 4.7% in August from the prior month to an annualized rate of 716,000, according to estimates released on Wednesday by the U.S. Census Bureau and the Department of Housing and Urban Development.
That was up 9.8% from an annualized rate of 652,000 home sales in August 2023.
The latest month-over-month decline was in contrast to a 10.3% jump in single-family home sales from June to July.
Single-family home sales fell the most from July to August in the West, falling 17.8% to an annualized rate of 152,000 in that region.
Read Also: <a href="https://www.benzinga.com/real-estate/24/06/39398524/home-sales-suffer-third-worst-month-in-the-last-10-years">Home Sales Suffer Third Worst Month In The Last 10 Years</a>
Sales of all homes, which also included condominiums, townhomes and co-ops, slipped 2.5% from July to a seasonally adjusted annual rate of 3.86 million in August, according to latest figures from the National Association of Realtors (NAR). Year-over-year sales for August declined 4.2% from 4.03 million in August 2023.
"Home sales were disappointing again in August, but the recent development of lower mortgage rates coupled with increasing inventory is a powerful combination that will provide the environment for sales to move higher in future months," NAR chief economist Lawrence Yun said.
"The home-buying process, from the initial search to getting the house keys, typically takes several months."
The interest rate on a 30-year mortgage fell to a <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/41024067/mortgage-demand-soars-as-fed-interest-rate-cut-fuels-housing-market-revival-next-sp">two-year low of 6.13%</a>, a week after the Federal Reserve cut interest rates by 50 basis points to mark the first Fed rate cut in four years.
Price Action: Lennar Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LEN#NYSE">LEN</a>), one of the largest homebuilders with a market cap of $49.5 billion, slipped 1.29% to close Wednesday at $181.86.
<ul>
<li>IShares U.S. Home Construction ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ITB#BATS">ITB</a>) slipped 1.71%</li>
<li>Direxion Daily Homebuilders &amp; Supplies Bull 3X Shares (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NAIL#NYSE">NAIL</a>) fell 4.94%</li>
<li>AdvisorShares Gerber Kawasaki ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GK#NYSE">GK</a>) went up 0.17%</li>
</ul>
Read Now: 
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<li><a href="https://www.benzinga.com/news/large-cap/24/07/39909262/us-home-sales-see-sharpest-monthly-decline-in-1-5-years-as-record-high-prices-keep-buyers-on-the-s">US Home Sales See Sharpest Monthly Decline In 1.5 Years As Record High Prices Keep Buyers On The Sideline</a></li>
</ul>
Photo: Floridastock via Shutterstock

REIT

iShares Dow Jones US Homenstruction Index Fund

NAIL

New US Single-Family Home Sales Fall From Prior Month — But Are Up From A Year Ago As Mortgage Rates Decline

BofA Securities says U.S. consumers are focused on value and sees Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) and Walmart Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>) well-positioned in the e-commerce industry to reap the benefits heading <a href="https://www.benzinga.com/news/24/09/41023224/top-10-stock-picks-for-the-holiday-boom-adobe-forecasts-unprecedented-e-commerce-sales-this-season">into the holiday season.</a> 
What To Know: On Wednesday, BofA released its 2025 annual e-commerce survey which monitors sector trends, inflections and outlook for the next year. The research firm expects e-commerce to grow its market share during the upcoming holiday season as consumers are drawn to online shopping by convenience, price comparability and a shorter holiday shopping window after Thanksgiving.&nbsp;
The survey revealed 52% of respondents expect to increase their online spending year-over-year, compared to 46% last year. However, 62% of respondents said they are seeking lower prices due to economic changes and uncertainty about the upcoming Presidential election. 
Read Next:<a href="https://www.benzinga.com/news/24/09/41011763/whats-going-on-with-intel-stock"> What&#8217;s Going On With Intel Stock?</a>
Why It Matters: BofA sees retailers offering consumables and value pricing, such as Walmart and Amazon, as best-positioned to gain market share as consumers look for lower prices and price comparability in an uncertain environment. 
Walmart remained the most popular online grocery retailer with 30% of respondents opting for the grocery giant. Amazon saw the highest spending intentions in the survey, with 45% of respondents intending to increase their usage over the next six months.&nbsp;
Sixty-seven percent of respondents reported using Temu, a subsidiary of PDD Holdings, Inc. &#8211; ADR (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PDD#NASDAQ">PDD</a>), a gain of 13 points year-over-year. However, only 20% intend to increase their Temu usage, down by eight points from last year. 
Overall, BofA forecasts healthy consumer online spending in the upcoming holiday shopping season with a shift from discretionary categories into consumables.&nbsp;
AMZN, WMT, PDD Price Action: According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, Amazon shares closed Wednesday's session down 0.74% at $192.53, Walmart shares rose 0.90% to $81.40 and PDD Holdings shares ended the session 0.12% higher at $113.94. 
Read Also:
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<li><a href="https://www.benzinga.com/news/24/09/40991529/what-happened-with-palantir-stock-today">What Happened With Palantir Stock Today?</a></li>
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Photo: Jill Wellington from Pixabay

Analyst Color

AMZN

Citigourp Global Markets 2% Protected Notes Linked To The Djia

Expect Healthy Online Spending This Holiday Season, Says Analyst: What To Know

Investcorp Credit (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ICMB#NASDAQ">ICMB</a>) reported quarterly earnings of $0.09 per share which missed the analyst consensus estimate of $0.13 by 30.77 percent.

Earnings Misses

ICMB

Investcorp Credit Q4 2024 GAAP EPS $0.09 Misses $0.13 Estimate

Eli Lilly And Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>) is one of several companies benefitting from demand for weight loss drugs. The company is also seeing competition in the market including knockoff drugs that it said <a href="https://www.benzinga.com/general/biotech/24/08/40376247/dont-promote-copycat-weight-loss-drugs-amid-improved-supply-eli-lilly-asks-doctors-fda-evaluates">could be unsafe</a>.
What Happened: A recent report says Eli Lilly is seeking medical records of people who took knockoff <a href="https://www.benzinga.com/topic/weight-loss">weight loss drugs.</a>
The request, reported by <a href="https://www.bloomberg.com/news/articles/2024-09-19/lilly-wants-records-from-people-who-took-weight-loss-knockoffs?sref=TBDibEcD">Bloomberg</a>, is being done for safety reasons according to the pharmaceutical company.
Eli Lilly is building a case against businesses that are selling knockoffs of the company's Zepbound and Monjaro. Compounding pharmacies have been capitalizing on Lilly seeing supply constraints and shortages while demand remains high.
Lilly has said that the quality of the compounding pharmacies products are inferior and questions the safety profile of the treatment.
A letter viewed by Bloomberg requested information from a patient who took a Lilly product from a compounded pharmacy.
"We would appreciate if you could complete the enclosed form and sign the Authorization for Release of Medical Information so that we can obtain more details from the treating physician around your experience," the letter says.
Along with items like the letter, Eli Lilly also took out an advertisement in national publications encouraging patients to make sure they are taking the "real product."
Read Also:<a href="https://www.benzinga.com/markets/cannabis/24/09/41033009/can-novo-nordisks-weight-loss-drug-ozempic-help-stem-the-devastating-addiction-crisis-new-resear"> Can Novo Nordisk&#8217;s Weight Loss Drug Ozempic Help Stem The Devastating Addiction Crisis? New Research Says Yes</a>
Why It's Important: Obtaining medical records could be a key in Eli Lilly's battle against compounding pharmacies. The short supply of Lilly and other companies' weight loss drugs helped the argument for a legal loophole that allows compounding of drugs when a supply constraint happens.
If Eli Lilly can prove that the drugs are not as safe and are causing side effects or harm to patients, it could help put a stop to compounding pharmacies. Without proof, Eli Lilly may fall victim to the legal loophole and the issue of soaring demand for its own products.
Eli Lilly <a href="https://www.benzinga.com/general/biotech/24/08/40251130/mounjaro-maker-eli-lillys-bumper-q2-earnings-exceeds-estimates-hikes-outlook-again-on-strong-diab">reported second-quarter </a>revenue of $11.3 billion, up 36% year-over-year. Mounjaro and Zepbound had revenue of $3.1 billion and $1.2 billion, respectively, seeing significant gains in the quarter.
The pharmaceutical company increased its full-year guidance as a result of the second-quarter results and increasing demand for several products.
LLY Price Action: Eli Lilly stock closed Wednesday at $924.56 versus a 52-week trading range of $516.57 to $972.53. Eli Lilly stock is up 56% year-to-date in 2024.
Read Next: 
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<li><a href="https://www.benzinga.com/general/biotech/24/09/41002452/eli-lillys-early-alzheimers-treatment-donanemab-scores-japanese-approval-its-second-largest-marke">Eli Lilly&#8217;s Early Alzheimer&#8217;s Treatment Donanemab Scores Japanese Approval, Its Second Largest Market</a></li>
</ul>
Photo: Shutterstock

Biotech

Eli Lilly Stock Soars In 2024 On Weight Loss Drug Success, Now The Company Wants Medical Records Of Copycat Treatments

NINE, HUSA and TAOP are among premarket gainers

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Zhongchao&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/zcmd-stock-quote/">ZCMD</a>) stock is rocketing higher on Friday alongside heavy trading of the Chinese healthcare information and training company&rsquo;s shares.



That has more than 11.9 million shares of ZCMD stock changing hands as of this writing. This is well above its daily average trading volume of about 390,000 shares. Investors will also note that the float for Zhongchao&nbsp;is <a href="https://finance.yahoo.com/quote/ZCMD/key-statistics">only about 1.3 million units</a>.



The increase in activity for ZCMD stock today comes without any news from the company. That includes a lack of press releases or filings with the Securities and Exchange Commission (SEC). There&rsquo;s also no new analyst news that would send shares higher today.



It&rsquo;s also worth keeping in mind that ZCMD is a penny stock. That comes from its prior closing price of $1.45 per share and its market capitalization of $3.581 million.



<h2>What That Means for ZCMD Stock</h2>



Being a penny stock opens ZCMD shares up to certain vulnerabilities. Among them is volatility and manipulation from certain types of traders. Its low float also plays into that compared to the heavy trading today.



All of this is to say that ZCMD stock may be undergoing a short squeeze right now. While that has the stock up at the moment, it also means the shares could come crashing back down soon. This makes it a risky investment for traders today.



ZCMD stock is up 102.8% as of Friday morning. However, the shares closed out Thursday down 54.6% year-to-date.



Investors will find more of the most recent stock market stories below!



We have all of the hottest stock market news ready to go on Friday! Among that is what has shares of Redwoods Acquisition&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/rwod-stock-quote/">RWOD</a>) stock up, the biggest pre-market stock movers this morning and more. All of that news is available at the following links!



<h2>More Stock Market News for Friday</h2>



<ul><li><a href="https://investorplace.com/2024/04/why-is-redwoods-acquisition-rwod-stock-up-72-today/">Why Is Redwoods Acquisition (RWOD) Stock Up 72% Today?</a></li>



<li><a href="https://investorplace.com/2024/04/todays-biggest-pre-market-stock-movers-10-top-gainers-and-losers-on-friday-april-19th/">Today&rsquo;s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on&nbsp;Friday</a></li>



<li><a href="https://investorplace.com/2024/04/li-stock-alert-li-auto-launches-new-li-l6-suv/">LI Stock Alert: Li Auto Launches New Li L6 SUV</a></li>
</ul>On <a href="https://investorplace.com/stock-types/penny-stocks/">Penny Stocks</a> and Low-Volume Stocks:&#8239;With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That&rsquo;s because these &ldquo;penny stocks&rdquo; are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that&#8239;InvestorPlace.com&rsquo;s writers disclose this fact and warn readers of the risks.



Read More:&#8239;Penny Stocks &mdash;&nbsp;<a href="https://investorplace.com/2014/05/fraud-penny-stocks-scams/" target="_blank">How to Profit Without Getting Scammed</a>



On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the&nbsp;InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.
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	The post <a href="https://investorplace.com/2024/04/why-is-zhongchao-zcmd-stock-up-103-today/">Why Is Zhongchao (ZCMD) Stock Up 103% Today?</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

Why Is Zhongchao (ZCMD) Stock Up 103% Today?

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Tritium DCFC&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/dcfc-stock-quote/">DCFC</a>) stock is falling hard on Friday after the company <a href="https://app.quotemedia.com/data/downloadFiling?webmasterId=90423&amp;ref=318241881&amp;type=PDF&amp;symbol=DCFC&amp;cdn=21bc4c0fb2af1dc1e7b76f221263a80e&amp;companyName=Tritium+DCFC+Limited&amp;formType=6-K&amp;formDescription=Report+of+foreign+private+issuer+pursuant+to+Rule+13a-16+or+15d-16+under+the+Securities+Exchange+Act+of+1934&amp;dateFiled=2024-04-18">warned investors of insolvency</a> in a filing with the Securities and Exchange Commission (SEC).



This filing from Tritium DCFC notes that it and three of its Australian subsidiaries are insolvent or likely to become insolvent. It also mentions that an administrator should be appointed under the Australian Corporations Act 2001.



Tritium DCFC has appointed t Peter James Gothard, James Douglas Dampney and William Martin Colwell of KPMG as joint and several administrators. With this comes the suspension of the powers of the company&rsquo;s Board of Directors.



Finally, the company notes that this voids the transfer of shares during this period. The only exceptions are those made by the administrators or through a court.



<h2>DCFC Stock Troubles</h2>



Today&rsquo;s news builds on problems that Tritium DCFC was already facing. That includes <a href="https://www.nasdaq.com/press-release/tritium-receives-nasdaq-staff-determination-letter-2024-04-11">a delisting warning</a> that was sent to it earlier this month. The problem is it not meeting the minimum of 1,100,000 publicly held shares to remain on the exchange.



Tritium DCFC was planning to meet with the Nasdaq Hearings Panel to discuss regaining compliance with this standard. It&rsquo;s unclear how the insolvency filing affects this.



DCFC stock is down 63.1% as of Friday morning and was down 91.5% year-to-date when markets closed yesterday.



Investors looking for more of the most recent stock market stories are in the right place!



InvestorPlace is home to all of the hottest stock market news for Friday! A few examples include what&rsquo;s happening with shares of Zhongchao&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/zcmd-stock-quote/">ZCMD</a>)&nbsp;and Redwoods Acquisition&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/rwod-stock-quote/">RWOD</a>) stock as well as the biggest pre-market stock movers this morning.



<h2>More Friday Stock Market News</h2>



<ul><li><a href="https://investorplace.com/2024/04/why-is-zhongchao-zcmd-stock-up-103-today/">Why Is Zhongchao (ZCMD) Stock Up 103% Today?</a></li>



<li><a href="https://investorplace.com/2024/04/why-is-redwoods-acquisition-rwod-stock-up-72-today/">Why Is Redwoods Acquisition (RWOD) Stock Up 72% Today?</a></li>



<li><a href="https://investorplace.com/2024/04/todays-biggest-pre-market-stock-movers-10-top-gainers-and-losers-on-friday-april-19th/">Today&rsquo;s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on&nbsp;Friday</a></li>
</ul>On Penny Stocks and Low-Volume Stocks:&#8239;With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That&rsquo;s because these &ldquo;penny stocks&rdquo; are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that&#8239;InvestorPlace.com&rsquo;s writers disclose this fact and warn readers of the risks.



Read More:&#8239;Penny Stocks &mdash;&nbsp;<a href="https://investorplace.com/2014/05/fraud-penny-stocks-scams/" target="_blank">How to Profit Without Getting Scammed</a>



On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the&nbsp;InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.
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	The post <a href="https://investorplace.com/2024/04/why-is-tritium-dcfc-dcfc-stock-down-63-today/">Why Is Tritium DCFC (DCFC) Stock Down 63% Today?</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

Why Is Tritium DCFC (DCFC) Stock Down 63% Today?

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
BioNexus Gene Lab&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/bglc-stock-quote/">BGLC</a>) stock is falling on Friday but investors will note that this comes after its shares underwent a rally late on Thursday.



BioNexus Gene Lab shares closed out Thursday up 28.8% with about 3.1 million units traded. That was more than its daily average trading volume of about 1.6 million shares.



The catalyst for this rally was BioNexus Gene Lab announcing its agreement to <a href="https://www.nasdaq.com/press-release/bionexus-gene-lab-corp.-agrees-to-invest-rm-1.2-million-in-ascension-innovation-aisb">invest $250,000 in Ascension Innovation</a>. This is a privately held Malaysian company focused on advancing digital health information with artificial intelligence (<a href="https://investorplace.com/stock-quotes/ai-stock-quote/">AI</a>).



Sam Tan, CEO, BioNexus Gene Lab, said this about the news.




&ldquo;Our investment in AISB reflects our belief in their transformative healthcare solutions. Together, we aim to revolutionize patient care through predictive and generative AI.&rdquo;




AI has been a hot topic lately with news of it often raising a company&rsquo;s shares. Yesterday&rsquo;s gains were likely the result of traders flocking to BGLC stock due to the AI connection with this investment.



<h2>BGLC Stock Movement on Friday</h2>



Unfortunately, it doesn&rsquo;t look like BGLC is able to maintain the positive movement it saw yesterday. This has the stock down 26.8% during pre-market hours on Friday. However, this doesn&rsquo;t come with heavy trading as only around 66,000 units have changed hands this morning.



Investors will see even more of the latest stock market stories below!



We have all of the hottest market news traders need to know about on Friday! That includes everything happening with shares of Tritium DCFC&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/dcfc-stock-quote/">DCFC</a>) stock, Zhongchao&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/zcmd-stock-quote/">ZCMD</a>) stock and Redwoods Acquisition&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/rwod-stock-quote/">RWOD</a>) stock today. You can catch up on all of these matters at the following links!



<h2>More Stock Market News for Friday</h2>



<ul><li><a href="https://investorplace.com/2024/04/why-is-tritium-dcfc-dcfc-stock-down-63-today/">Why Is Tritium DCFC (DCFC) Stock Down 63% Today?</a></li>



<li><a href="https://investorplace.com/2024/04/why-is-zhongchao-zcmd-stock-up-103-today/">Why Is Zhongchao (ZCMD) Stock Up 103% Today?</a></li>



<li><a href="https://investorplace.com/2024/04/why-is-redwoods-acquisition-rwod-stock-up-72-today/">Why Is Redwoods Acquisition (RWOD) Stock Up 72% Today?</a></li>
</ul>On Penny Stocks and Low-Volume Stocks:&#8239;With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That&rsquo;s because these &ldquo;penny stocks&rdquo; are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that&#8239;InvestorPlace.com&rsquo;s writers disclose this fact and warn readers of the risks.



Read More:&#8239;Penny Stocks &mdash;&nbsp;<a href="https://investorplace.com/2014/05/fraud-penny-stocks-scams/" target="_blank">How to Profit Without Getting Scammed</a>



On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the&nbsp;InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.
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	The post <a href="https://investorplace.com/2024/04/why-is-bionexus-gene-lab-bglc-stock-down-27-today/">Why Is BioNexus Gene Lab (BGLC) Stock Down 27% Today?</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

Why Is BioNexus Gene Lab (BGLC) Stock Down 27% Today?

Predictive Oncology, BIMI Holdings, IMAC Holdings among healthcare movers

INDO, IPDN and GSUN among mid-day movers

SBFM, BPTH and INDO among pre-market losers

ING, PALI and FNCH among pre-market losers

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Pre-market stock movers are a hot topic on Wednesday and we have all of the latest news traders need to know about them this morning!



Earnings reports, an acquisition deal and more are behind today&rsquo;s biggest stock market movements.



Let&rsquo;s get into that news below!



<h2>Biggest Pre-Market Stock Movers: 10 Top Gainers</h2>



<ol><li>Zhongchao (NASDAQ:<a href="https://investorplace.com/stock-quotes/zcmd-stock-quote/">ZCMD</a>) stock is rocketing 78% higher alongside heavy pre-market trading.</li>



<li>G1 Therapeutics (NASDAQ:<a href="https://investorplace.com/stock-quotes/gthx-stock-quote/">GTHX</a>) shares are soaring more than 65% on <a href="https://finance.yahoo.com/news/pharmacosmos-group-acquire-g1-therapeutics-102900391.html">an acquisition deal</a>.</li>



<li>Richtech Robotics (NASDAQ:<a href="https://investorplace.com/stock-quotes/rr-stock-quote/">RR</a>) stock is surging over 48% with strong early morning trading.</li>



<li>AlphaVest Acquisition Corp &ndash; Right (NASDAQ:<a href="https://investorplace.com/stock-quotes/atmvr-stock-quote/">ATMVR</a>) shares are gaining more than 46% this morning.</li>



<li>Inogen (NASDAQ:<a href="https://investorplace.com/stock-quotes/ingn-stock-quote/">INGN</a>) stock is increasing over 31% with its <a href="https://www.nasdaq.com/press-release/inogen-announces-second-quarter-2024-financial-results-2024-08-06">Q2 earnings report</a>.</li>



<li>Upstart (NASDAQ:<a href="https://investorplace.com/stock-quotes/upst-stock-quote/">UPST</a>) shares are rising more than 25% after <a href="https://finance.yahoo.com/news/upstart-holdings-inc-upst-reports-221010260.html">reporting a Q2 revenue beat</a>.</li>



<li>Lumen Technologies (NYSE:<a href="https://investorplace.com/stock-quotes/lumn-stock-quote/">LUMN</a>) stock is heading over 24% higher <a href="https://www.fool.com/earnings/call-transcripts/2024/08/06/lumen-technologies-lumn-q2-2024-earnings-call-tran/">with its latest earnings</a>.</li>



<li>Veracyte (NASDAQ:<a href="https://investorplace.com/stock-quotes/vcyt-stock-quote/">VCYT</a>) shares are climbing close to 22% after <a href="https://www.nasdaq.com/press-release/veracyte-announces-second-quarter-2024-financial-results-2024-08-06">announcing its Q2 results</a>.</li>



<li>Direxion Shares ETF Trust Direxion Daily Electric and Autonomous Vehicles Bull 2X Shares (NYSEARCA:<a href="https://investorplace.com/stock-quotes/evav-stock-quote/">EVAV</a>) are jumping more than 19% this morning.</li>



<li>Shopify (NYSE:<a href="https://investorplace.com/stock-quotes/shop-stock-quote/">SHOP</a>) stock is up 18% on <a href="https://za.investing.com/news/stock-market-news/shopify-stock-soars-on-solid-q2-report-issues-q3-guidance-432SI-3275444">solid Q2 earnings results</a>.</li>
</ol><h2>10 Top Losers</h2>



<ol><li>Scorpius (NYSEMKT:<a href="https://investorplace.com/stock-quotes/scpx-stock-quote/">SCPX</a>) shares are crashing over 79% on a <a href="https://app.quotemedia.com/data/downloadFiling?webmasterId=90423&amp;ref=318500722&amp;type=PDF&amp;symbol=SCPX&amp;cdn=70e2821112bdd2f31adb78fe13cd4e38&amp;companyName=Scorpius+Holdings+Inc.&amp;formType=FWP&amp;formDescription=Filing+under+Securities+Act+Rules+163%2F433+of+free+writing+prospectuses&amp;dateFiled=2024-08-07">proposed public offering</a>.</li>



<li>Talis Biomedical (NASDAQ:<a href="https://investorplace.com/stock-quotes/tlis-stock-quote/">TLIS</a>) stock is plummeting more than 47% <a href="https://app.quotemedia.com/data/downloadFiling?webmasterId=90423&amp;ref=318499549&amp;type=PDF&amp;symbol=TLIS&amp;cdn=2a3bd0b3e041ab6a71139ad061fc0a12&amp;companyName=Talis+Biomedical+Corporation&amp;formType=8-K&amp;formDescription=Current+report+pursuant+to+Section+13+or+15%28d%29&amp;dateFiled=2024-08-06">on restructuring updates</a>.</li>



<li>DZS (NASDAQ:<a href="https://investorplace.com/stock-quotes/dzsi-stock-quote/">DZSI</a>) shares are diving over 45% as it <a href="https://www.nasdaq.com/press-release/dzs-receives-expected-delisting-notice-nasdaq-2024-08-06">prepares for a delisting notice</a>.</li>



<li>Stem (NYSE:<a href="https://investorplace.com/stock-quotes/stem-stock-quote/">STEM</a>) stock is tumbling 38% <a href="https://finance.yahoo.com/news/stem-inc-stem-reports-q2-221513320.html">on Q2 misses</a>.</li>



<li>Nevro (NYSE:<a href="https://investorplace.com/stock-quotes/nvro-stock-quote/">NVRO</a>) shares are taking a more than 37% beating after <a href="https://www.marketwatch.com/story/nevro-shares-fall-21-cuts-2024-revenue-outlook-75cf8aa9?mod=newsviewer_click">cutting its revenue outlook</a>.</li>



<li>Emergent BioSolutions (NYSE:<a href="https://investorplace.com/stock-quotes/ebs-stock-quote/">EBS</a>) stock is sliding over 35% <a href="https://www.stocktitan.net/news/EBS/emergent-bio-solutions-reports-second-quarter-2024-financial-h8fhmjurwquo.html">alongside its Q2 results</a>.</li>



<li>VBI Vaccines (NASDAQ:<a href="https://investorplace.com/stock-quotes/vbiv-stock-quote/">VBIV</a>) shares are dropping more than 34% <a href="https://investorplace.com/2024/08/why-is-vbi-vaccines-vbiv-stock-up-62-today/">after a rally yesterday</a>.</li>



<li>Expion360 (NASDAQ:<a href="https://investorplace.com/stock-quotes/xpon-stock-quote/">XPON</a>) stock is decreasing over 28% <a href="https://app.quotemedia.com/data/downloadFiling?webmasterId=90423&amp;ref=318500633&amp;type=PDF&amp;symbol=XPON&amp;cdn=cc4a67ceca06cec716b8eaa852fb2069&amp;companyName=Expion360+Inc.&amp;formType=EFFECT&amp;formDescription=Notice+of+Effectiveness&amp;dateFiled=2024-08-06">with a public offering</a>.</li>



<li>Evotec (NASDAQ:<a href="https://investorplace.com/stock-quotes/evo-stock-quote/">EVO</a>) shares are falling more than 22% <a href="https://www.investing.com/news/stock-market-news/evotec-shares-crash-36-on-profit-warning-3558654">on a profit warning</a>.</li>



<li>CryoPort (NASDAQ:<a href="https://investorplace.com/stock-quotes/cyrx-stock-quote/">CYRX</a>) stock closes out our pre-market stock movers down over 20% after <a href="https://finance.yahoo.com/news/cryoport-inc-cyrx-reports-q2-230011376.html">missing Q2 estimates</a>.</li>
</ol>On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the&nbsp;InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.
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									</ul>The post <a href="https://investorplace.com/2024/08/todays-biggest-pre-market-stock-movers-10-top-gainers-and-losers-on-wednesday-aug-7th/">Today's Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Wednesday</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

Today's Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Wednesday

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Zhongchao&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/zcmd-stock-quote/">ZCMD</a>) stock is on the rise Wednesday alongside heavy pre-market trading of the healthcare information company&rsquo;s shares.



This has more than 12 million shares of ZCMD stock changing hands as of this writing. That&rsquo;s a massive leap over its daily average trading volume of about 58,000 shares. Investors will also note it has a low float <a href="https://finance.yahoo.com/quote/ZCMD/key-statistics/">at 1.29 million units</a>.



All of this movement comes without any clear news from Zhongchao. That includes a lack of press releases or filings with the Securities and Exchange Commission (SEC). There&rsquo;s also no analyst coverage that would cause the stock to rally today.



What is worth keeping in mind is ZCMD&rsquo;s status as a penny stock. This comes from its prior closing price of $1.09, low daily average trading volume and its market capitalization of only $2.748 million.



<h2>What That Means for ZCMD Stock</h2>



Being a penny stock opens Zhongchao&nbsp;shares up to certain vulnerabilities. Among these is volatility from heavy trading even with a lack of news.



It&rsquo;s possible this is tied to speculative traders buying the stock while its low. It could also be an attempt at a pump and dump by retail and day traders. One thing is for sure, traders will want to be careful about taking a stake in the company right now.



ZCMD stock is up 52% as of Wednesday morning.



There are more stock market stories investors need to know about below!



We have all of the hottest stock market news ready to go on Wednesday! That includes the biggest pre-market stock movers this morning and other news. All of that is available at the following links!



<h2>More Wednesday Stock Market News</h2>



<ul><li><a href="https://investorplace.com/2024/08/todays-biggest-pre-market-stock-movers-10-top-gainers-and-losers-on-wednesday-aug-7th/">Today&rsquo;s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on&nbsp;Wednesday</a></li>



<li><a href="https://investorplace.com/2024/08/trade-of-the-day-cinemark-cnk-stock-may-ride-higher-on-a-short-squeeze/">Trade of the Day: Cinemark (CNK) Stock May Ride Higher on a Short Squeeze</a></li>



<li><a href="https://investorplace.com/2024/08/nvidia-news-new-street-research-upgrades-nvda-stock-amid-selloff/">Nvidia News: New Street Research Upgrades NVDA Stock Amid Selloff</a></li>
</ul>On Penny Stocks and Low-Volume Stocks:&#8239;With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That&rsquo;s because these &ldquo;penny stocks&rdquo; are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that&#8239;InvestorPlace.com&rsquo;s writers disclose this fact and warn readers of the risks.



Read More:&#8239;Penny Stocks &mdash;&nbsp;<a href="https://investorplace.com/2014/05/fraud-penny-stocks-scams/" target="_blank">How to Profit Without Getting Scammed</a>



On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the&nbsp;InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.
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Why Is Zhongchao (ZCMD) Stock Up 52% Today?

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Zhongchao Inc. Collaborates with a Public Health Foundation to Support Sustainable and Effective Cancer Treatments

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