Akoustis Technologies Bolsa (NASDAQ: AKTS)

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Akoustis Technologies

Akoustis Technologies Inc is an emerging commercial product company focused on developing, designing, and manufacturing innovative RF filter solutions for the wireless industry, including for products such as smartphones and tablets, network infrastructure equipment, WiFi Customer Premise Equipment and defense applications. The company has developed a proprietary microelectromechanical system based bulk acoustic wave technology and a unique manufacturing process flow, called XBAW, for filters produced for use in RFFE modules. The company derives revenue from the sale of filter products under individual customer purchase orders, some of which have underlying master sales agreements that specify terms governing the product sales.

Akoustis Technologies, Inc. - Common Stock

Akoustis Technologies Inc

Israeli Prime Minister Benjamin Netanyahu promised retaliation against Iran for <a href="https://www.benzinga.com/news/global/24/10/41126038/iran-attacks-israel-with-missiles-middle-east-tensions-escalates-s-p-500-stocks-bitcoin-fall-as-oil">firing over 180 missiles</a> into Israel on Tuesday. Meanwhile, Iran warned of &#8220;vast destruction&#8221; if Israel retaliates, heightening fears of a broader conflict.
What Happened: Despite the missile onslaught, no injuries were reported in Israel. However, a casualty was reported in the occupied West Bank. Iran&#8217;s foreign ministry maintained that its operation was defensive, targeting only Israeli military and security facilities.
Israel&#8217;s U.N. ambassador stated that the country will decide when and how to respond to Iran&#8217;s launch of nearly 200 ballistic missiles, emphasizing that the retaliation &#8220;will be noticed&#8221; and &#8220;painful.&#8221; He warned Iran against testing Israel&#8217;s capabilities, while stressing that Israel does not seek war but cannot ignore such attacks on its civilians, <a href="https://apnews.com/live/israel-lebanon-ground-operation-updates">reported</a> the Associated Press.
Iran&#8217;s armed forces stated that any direct intervention by Israel&#8217;s supporters against Tehran would trigger a &#8216;strong attack&#8217; from Iran on their &#8216;bases and interests&#8217; in the region, reported Reuters.
Iran&#8217;s military chief, Gen. Mohammad Bagheri, warned that Iran would strike all of Israel&#8217;s infrastructure if it takes action against Iran. He stated that the Revolutionary Guard is ready to repeat missile attacks with &#8220;multiplied intensity&#8221; and emphasized that while Iran avoided targeting civilians, it remains a feasible option, according to AP.
See Also: <a href="https://www.benzinga.com/news/24/09/41080855/kim-jong-uns-sister-says-us-making-incredible-mistake-by-giving-8b-in-military-aid-to-ukraine-should?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Kim Jong Un&#8217;s Sister Says US Making &#8216;Incredible Mistake&#8217; By Giving $8B In Military Aid To Ukraine: &#8216;Should Not&#8230;Underestimate Russia&#8217;s Serious Warning&#8217;</a>
Why It Matters: The missile attack from Iran follows a period of escalating tensions in the Middle East. Prior to the attack, the U.S. had increased its military presence in the region due to the rising tensions. 
The U.S. had <a href="https://www.benzinga.com/etfs/broad-u-s-equity-etfs/24/10/41120592/iran-set-to-launch-ballistic-missile-attack-against-israel-report">also warned</a> that an attack in the region was imminent. The attack has had a significant impact on global markets, with investors reacting to the potential implications of the escalating conflict. 
Gold and oil prices <a href="https://www.benzinga.com/etfs/broad-u-s-equity-etfs/24/10/41129967/market-sells-off-over-irans-attack-on-israel-port-strikes-hurricane-helene-national-se">surged following the attack</a>, with the United States Oil Fund up 3% and the SPDR Gold Trust rising 1%. Major market indexes fell, including the SPDR S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), down 0.9%, and the Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), down 1.4%. Technology stocks were hit the hardest, while defense and oil stocks saw gains. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) also dropped 2%.
Price Action: At the time of writing, SPY traded 0.15% lower in the after-hours session at $567.74 and QQQ was lower by almost 0.3% at $480.01.
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>

News

Politics

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$BTC

Netanyahu Promises Retaliation For Missile Attack On Israel, Iran Responds By Promising 'Vast Destruction'

Top Democrats from influential House committees are urging the Drug Enforcement Administration (DEA) to expedite the process of <a href="https://www.benzinga.com/topic/cannabis-rescheduling">rescheduling cannabis.</a>
In a letter sent to Attorney General Merrick Garland and DEA Administrator Anne Milgram, Representatives Jerrold Nadler (D-NY) and Frank Pallone (D-NJ), ranking members of the Judiciary and Energy &amp; Commerce Committees respectively, stressed the need for quick action following a scientific review by the Biden administration.
See Also: <a href="https://www.benzinga.com/markets/cannabis/24/09/40938172/no-turning-back-now-cannabis-rescheduling-gains-momentum-expert-offers-timeline">&#8216;No Turning Back Now&#8217;: Cannabis Rescheduling Gains Momentum, Expert Offers Timeline</a>
According to <a href="https://www.marijuanamoment.net/top-congressional-democrats-push-dea-to-swiftly-reschedule-marijuana-and-continue-to-assess-full-legalization/">Marijuana Moment</a>, the lawmakers argue that cannabis has &#8220;less potential for abuse than other drugs&#8221; and serves an &#8220;accepted medical use in treatment.&#8221;
Their comments align with recommendations from the Department of Health and Human Services (HHS) and the Department of Justice, which have called for the reclassification of cannabis from Schedule I to Schedule III under the Controlled Substances Act (CSA).
&#8220;We value the Department of Justice's steadfast commitment to prevent the misuse and diversion of controlled substances that pose a threat to public health," Nadler and Pallone wrote.
The lawmakers applauded the Biden administration for initiating the review and urged the DEA to &#8220;swiftly complete this process and transfer marijuana to schedule III.&#8221;
<h3 class="wp-block-heading">Push For Full Descheduling</h3>
While the immediate focus is on rescheduling to Schedule III, which would loosen some federal restrictions on cannabis, the legislators also urged federal agencies to explore further reform. 
They said that &#8220;continuing to assess whether schedule IV, schedule V, or descheduling may be appropriate&#8221; could be the next step in aligning cannabis policy with evolving scientific and medical understanding. 
Descheduling, which would remove cannabis from the CSA entirely, remains a key objective for many advocates and lawmakers, including Nadler, who has previously sponsored the MORE Act &#8211; a bill that would result in full legalization.
<h3 class="wp-block-heading">Election-Year Focal Point</h3>
The timing of the lawmakers' push comes as cannabis policy increasingly takes center stage in <a href="https://www.benzinga.com/markets/cannabis/24/09/40785015/harris-campaign-accuses-trump-of-blatant-pandering-and-lying-about-his-cannabis-support-announce">U.S. election politics.</a> Both major parties are positioning themselves on the issue as the 2024 presidential election approaches. 
However, final action on the rescheduling is not expected until after November, with the DEA scheduling an administrative hearing on the matter for December 2. This hearing will allow for further input from experts and stakeholders before the agency potentially finalizes its decision.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/cannabis/24/09/41015020/dea-boosts-psychedelics-production-for-research-cannabis-quotas-hold-steady-ahead-of-reschedulin">DEA Boosts Psychedelics Production For Research, Cannabis Quotas Hold Steady Ahead Of Rescheduling</a></li>
</ul>

Cannabis

Regulations

Markets

House Democrats Urge DEA To Speed Up Cannabis Rescheduling

ADTX

Trading Halt: Halted at 7:50:00 p.m. ET - Trading Halt: Halt News Pending

AREB

SOBR

Vice President&nbsp;Kamala Harris&nbsp;continues to lead former President&nbsp;Donald Trump&nbsp;in a head-to-head poll of likely voters with less than 50 days to go until the<a href="https://www.benzinga.com/topic/2024-election" target="_blank" rel="noreferrer noopener">&nbsp;2024 presidential election.</a>
What Happened: Harris maintains a five-point lead over Trump and continues to<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"> lead betting odds</a> and prediction markets against the former president with Tuesday's vice president debate a potential catalyst for the 2024 election.
A new Morning Consult poll of likely voters shows Harris' lead at five points for the week. The new <a href="https://pro.morningconsult.com/trackers/2024-presidential-election-polling?utm_source=briefing&amp;utm_medium=email&amp;utm_campaign=washington_am&amp;utm_content=100124">poll </a>shows the following results from voters, with the results from the Sept. 24 poll in parentheses:
<ul>
<li>Kamala Harris: 51% (50%)</li>
<li>Donald Trump: 46% (45%)</li>
<li>Someone Else: 2% (2%)</li>
<li>Don't Know: 2% (3%)</li>
</ul>
The poll found that 94% of Democrats backed Harris as their top pick, in line with last week&#8217;s poll. The poll also found 92% of Republicans backed Trump as their top pick, up one percentage point from last week's poll.
Independent voters selected the following as their head-to-head preference, with the results from the <a href="https://www.benzinga.com/general/politics/24/09/41016272/harris-vs-trump-2024-election-poll-shows-good-bad-news-for-each-candidate">Sept. 24 poll</a> in parentheses:
<ul>
<li>Kamala Harris:&nbsp;45% (46%)</li>
<li>Donald Trump: 44% (42%)</li>
<li>Someone Else: 5% (6%)</li>
<li>Don&#8217;t Know:&nbsp;5% (6%)</li>
</ul>
The vice president also has the edge in the 18-34 age voters demographic, leading 53% to 43%. The 10-point lead is down from last week's 12-point lead and a lead of 15-points two weeks ago. &nbsp;
Among Black voters, Harris leads by 77% to 19%.
Did You Know?
<ul>
<li>Congress Is Making Huge Investments.&nbsp;<a href="https://www.benzinga.com/gov-trades/?utm_source=BZprocontent100124" target="_blank" rel="noreferrer noopener">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>
Why It's Important: Trump showed gains among Black voters, Independent voters and Republican voters on the week, which is potentially bad news for Harris.
The good news for Harris and running mate Tim Walz is that the favorable ratings of the Democratic Party candidates continue to rank ahead of their counterparts.
The latest poll shows Harris with a favorable rating of 52%, down one point from last week's poll and a record high. With an unfavorable rating of 46%, Harris' net favorability is +6 pints, down from last week's record +9 points.
For comparison, Trump has a 44% favorable rating and 54% unfavorable rating, compared to 45% and 53%, respectively, in last week's poll. Trump's net favorability is -10 points, down from last week's -9 points. Trump's net favorability has often been negative during the election cycle.
When it comes to running mates, Harris' vice-presidential pick Minnesota Gov. Tim Walz ranks significantly ahead of Trump's vice-presidential pick Ohio Sen. J.D. Vance in net favorability. Walz has a net favorability of +6 while Vance has a net favorability of -9. The net favorability ratings were +9 and -10 respectively in last week's poll
Walz has a favorable rating of 45% and unfavorable rating of 39%. Vance has a favorable rating of 39% and an unfavorable rating of 48%.
Walz and Vance will<a href="https://www.benzinga.com/markets/cryptocurrency/24/09/41107455/walz-vs-vance-vp-debate-betting-odds-what-candidate-is-favored-plus-how-to-watch-likely-to"> face off Tuesday night </a>in a vice president debate that airs at 9 p.m. ET on CBS, a unit of Paramount Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PARA#NASDAQ">PARA</a>)(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PARAA#NASDAQ">PARAA</a>).
CBS News begins coverage of the debate at 8 p.m. ET on CBS and affiliate networks. The debate and coverage can also be streamed on Paramount+, CBSNews.com and YouTube. Paramount will allow simulcasting by other networks.
The debate will be 90 minutes in length with two planned four-minute commercial breaks. The candidates are not allowed to interact with their campaign teams during the commercial breaks.
Prediction market Polymarket lists a 73% chance that Walz is the winner of the debate based on YouGov surveys, which could strengthen Harris' lead in coming election polls.
Check This Out:
<ul>
<li>Lawmakers Made Huge Investments This Year. <a href="https://www.benzinga.com/gov-trades/?utm_source=BZprocontent100124">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a> Photos: Shutterstock<a href="https://www.benzinga.com/gov-trades/?utm_source=BZprocontent100124"> </a></li>
</ul>

PARA

PARAA

Harris Vs. Trump: Vice President Leads Former President By 5 Points, Walz Favorability Rating Tops Vance Ahead Of VP Debate

Mark Spitznagel, co-founder of Universa Investments, believes the stock market is in a "Goldilocks phase" following the <a href="https://www.benzinga.com/opinion/24/10/41126981/chinas-stimulus-creates-huge-bullish-option-trades">Federal Reserve's rate cuts and China's stimulus measures.</a> After a crash last month, the market surged to new highs, but Spitznagel warns this euphoria won't last in an<a href="https://www.bloomberg.com/news/articles/2024-09-26/stock-market-s-goldilocks-zone-is-in-danger-of-an-abrupt-end?sref=TBDibEcD"> interview with Bloomberg. </a>He predicts a looming recession and believes the current rally is only temporary.
Spitznagel, known for his focus on "tail-risk" hedging, which protects against extreme, unexpected market events, says the biggest market bubble in history is about to burst. He foresees stagflation in the future, where the Fed will have to act, but it won't be enough to save the economy. Spitznagel has had success hedging through large downturns in the market, utilizing out-of-the-money put options as a way to &#8220;buy insurance&#8221; against market routs. Buying puts on the overall market through the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) or similar broad-exposure ETFs could be a way to protect against market volatility. Read Also: <a href="https://www.benzinga.com/etfs/broad-u-s-equity-etfs/24/10/41129967/market-sells-off-over-irans-attack-on-israel-port-strikes-hurricane-helene-national-se">Market Sells Off Over Iran&#8217;s Attack On Israel, Port Strikes, Hurricane Helene: National Security Adviser Calls Attack &#8216;Defeated And Ineffective&#8217;</a>
Spitznagel said that while the market might continue to soar in the short term, it will soon exit the Goldilocks zone, potentially by the end of the year. With the recent &#8220;uninversion&#8221; of the yield curve, Spitznagel feels the market is now in "black swan territory." What Is A Black Swan Event: A black swan event is an unpredictable event that leads to market volatility. The COVID-19 market crash is a recent example of a black swan event. He also criticized traditional investment strategies like diversification, calling them a "big lie." He argues that modern portfolio theory has distracted investors, often making them poorer in the long run. Instead, he urges investors to focus on how their portfolios will perform in both good and bad markets.
According to Spitznagel, the key is to protect against one's own tendencies, not just market movements. Rather than fixating on what the market will do next, investors should think about how they'll react in boom and bust scenarios to avoid emotional mistakes like selling at the low and buying at the high.
Read Next: <a href="https://www.benzinga.com/news/earnings/24/10/41129610/nike-q1-earnings-revenue-miss-eps-beat-teams-energized-amid-ceo-transition-a-comeback-at-this-scale"> • Nike Q1 Earnings: Revenue Miss, EPS Beat, Teams &#8216;Energized&#8217; Amid CEO Transition — &#8216;A Comeback At This Scale Takes Time, But We See Early Wins&#8217;</a>
Photo: Shutterstock

Education

Economics

Billionaire Investor Who Predicted 2000, 2008 Crashes Says Market Euphoria Will Top Soon, Warns Of 'Black Swan Event'

Despite pouring millions into the push for adult-use cannabis legalization, Florida's cannabis market is showing signs of strain.&nbsp;
According to a recent report from <a href="https://www.benzinga.com/topic/beacon-securities-limited">Beacon Securities</a>, financial backing for the legalization campaign has surged, yet dispensary sales have slipped during the third quarter of 2024.&nbsp;
Companies like Trulieve Cannabis Corp. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TCNNF#OTC">TCNNF</a>) and Curaleaf Holdings Inc. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CURLF#OTC">CURLF</a>) are leading the charge with significant contributions, but the growing number of dispensaries and external factors, such as Hurricane Helene, have raised questions about whether the market's fundamentals justify the hype.
<ul>
<li>Get Benzinga&#8217;s exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter&nbsp;<a href="https://newsletteremail.benzinga.com/subscribe" target="_blank" rel="noreferrer noopener">here</a>. You can't afford to miss out if you&#8217;re serious about the business.</li>
</ul>
<h3 class="wp-block-heading">Turbocharged</h3>
The <a href="https://www.benzinga.com/markets/cannabis/24/09/41036799/desantis-provokes-outrage-over-taxpayer-funded-ads-linking-marijuana-legalization-to-car-crashes">Smart &amp; Safe Florida </a>campaign, responsible for spearheading the adult-use legalization efforts, received a significant financial push in September.&nbsp;
According to the report by analysts Doug Cooper, Russell Stanley and Donangelo Volpe, Trulieve Cannabis recently added $9.5 million to its contributions, while Curaleaf contributed $1 million. To date, the campaign has raised over $100 million, with more than $24 million still available. 
<h3 class="wp-block-heading">Diluted Growth</h3>
Per-dispensary sales in <a href="https://www.benzinga.com/markets/cannabis/24/09/41002710/your-cousins-in-florida-like-their-weed-why-hispanic-voters-could-tip-the-scale-for-cannabis-wil">Florida</a> showed signs of softening during Q3, impacted by an increasing number of dispensaries and temporary disruptions like Hurricane Helene.&nbsp;
The state saw a 4% quarter-over-quarter (q/q) rise in dispensaries, with nine companies adding a total of 26 new locations.&nbsp;
According to the report, Trulieve alone accounted for 12 of these openings.&nbsp;
Overall, flower sales volume in the state increased 3% q/q, while oil-based product sales dipped 1%, with both categories showing slower growth compared to the previous quarter.
On a per-dispensary basis, flower sales volumes slipped 1% q/q, while oil-based product sales fell 5%.&nbsp;
These figures likely reflect the increased competition from <a href="https://www.benzinga.com/markets/cannabis/24/09/40990665/cannabis-sales-bloom-in-first-north-carolina-weed-store-marijuana-footprint-in-florida-grows-as-">new dispensaries</a> and effect of storm-related closures.
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/09/40774795/trump-says-hell-reschedule-cannabis-if-elected-backs-marijuana-banking-reform-and-floridas-amend">Trump Says He&#8217;ll Reschedule Cannabis If Elected, Backs Marijuana Banking Reform And Florida&#8217;s Amendment</a>
<h3 class="wp-block-heading">Top Players See Mixed Results&nbsp;</h3>
Trulieve, the dominant player in <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">Florida</a>, maintained its leadership position despite mixed results in both product categories. Its flower sales increased by 1% q/q, although the company lost 68 basis points (bps) in market share, now standing at 38%. In the oil-based product category, Trulieve&#8217;s sales remained flat, but it gained 50 bps in market share, increasing its lead to 31%.
Curaleaf, the second-largest operator in Florida, reported a strong 11% rise in flower sales volumes, boosting its market share by 79 bps to 10%. However, its oil-based product sales fell 2%, though it retained its second-place ranking with a 13% market share despite a slight loss of share.
Verano Holdings Corp. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/VRNOF#OTC">VRNOF</a>) had flat flower sales following sequential declines in Q1 and Q2, which were attributed to capacity upgrades. The company's market share in flower sales slipped by 19 bps, landing at 7%, keeping its third-place ranking. Verano's oil-based product sales dropped 8%, reducing its share by 68 bps to 9%.
Ayr Wellness Inc. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/AYRWF#OTC">AYRWF</a>) experienced strong growth in flower sales, up 12% q/q, which increased its <a href="https://www.benzinga.com/markets/cannabis/24/09/40753011/ayr-wellness-conditional-approval-for-medical-marijuana-operations-in-virginia-what-it-means-for">market share</a> by 51 bps to over 6%, ranking fourth in the state. However, its oil-based product sales declined 7%, dropping its share by 72 bps, though it maintained its third-place position with a 12% market share.
<h3 class="wp-block-heading">Smaller Players </h3>
<ul>
<li>Cresco Labs Inc. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CRLBF#OTC">CRLBF</a>) saw solid growth in both product categories, with flower sales volumes rising 7% q/q, raising its market share by 20 bps to 5%. The company&#8217;s oil-based product sales increased 6%, adding 23 bps in market share, taking it up to 4%.</li>
</ul>
<ul>
<li>Green Thumb Industries Inc. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/GTBIF#OTC">GTBIF</a>) posted mixed results, with flower sales declining by 18% q/q, lowering its market share by 45 bps to 2%. However, its oil-based product sales surged by 26%, adding 48 bps to its market share, also reaching 2%.</li>
</ul>
<ul>
<li>Planet 13 Holdings Inc. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/PLNHF#OTC">PLNHF</a>) managed to hold its ground in the oil-based products segment, with market share flat at 2% despite a 2% sales decline. However, the company's flower sales fell 12%, reducing its market share by 47 bps to just under 3%.</li>
</ul>
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/09/40712816/what-trump-learned-about-marijuana-that-desantis-did-not-and-why-the-gop-might-become-weed-frien">What Trump Learned About Marijuana That DeSantis Did Not And Why The GOP Might Become Weed-Friendly</a>
<h3 class="wp-block-heading">Florida's $100M Bet: What's At Stake</h3>
With adult-use cannabis legalization on the horizon through Amendment 3, Florida's market is set to see significant changes. According to <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38470560/landing-in-floridas-cannabis-market-legal-adult-use-marijuana-could-yield-874m-in-2">BDSA data</a>, total cannabis sales in Florida are projected to grow at a 12% compound annual growth rate (CAGR) from 2023 to 2028, reaching $4.5 billion by the end of that period.
However, legislative uncertainties surrounding the expansion of adult-use licenses add unpredictability to the market, with over 600 dispensaries already in operation and medical cannabis sales hitting $2.6 billion in 2023.
<h3 class="wp-block-heading">Hype-Worthy?</h3>
Pablo Zuanic&#8216;s analysis paints an optimistic picture for Florida's cannabis market, predicting a $6 billion valuation and significant growth for operators like Cansortium and AYR Wellness<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38037571/floridas-6b-cannabis-market-anticipates-400-growth-following-court-decision-allowin"> if adult-use legalization passes in November 2024</a>.&nbsp;
Zuanic forecasts up to 400% growth for AYR and substantial upside for other major players, highlighting the potential market explosion. However, when compared to the recent Beacon Securities report, which shows slipping per-dispensary sales and slowing growth, the question remains whether the market fundamentals can sustain this anticipated boom.&nbsp;
Read Next: <a href="https://www.benzinga.com/markets/cannabis/24/09/40879364/young-republicans-break-ranks-to-back-cannabis-legalization-is-the-gop-ready-for-a-shift-in-the-">Young Republicans Break Ranks To Back Cannabis Legalization &#8211; Is The GOP Ready For A Shift In The Status Quo?</a>

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CURALEAF HLDGS INC by Curaleaf Hldgs Inc.

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Slipping Weed Sales In Florida's Market: Is This $100M Bet Really Worth The Hype?

Marijuana Pepsi Vandyck has spent her life embracing a name that has drawn attention, often unwanted, and most always raising eyebrows.
Marijuana was given the name by her mother who was convinced it would provide notoriety and "take her around the world." What the name did was put her in the position of having to answer a million questions and fend off judgment.
Her parents were of the post-Woodstock era when cannabis was coming into its own across the country. "And they would cool off with a Pepsi," Marijuana's aunt,&nbsp;Mayetta Jackson told the <a href="http://archive.jsonline.com/news/milwaukee/40874017.html/" target="_blank" rel="noreferrer noopener">Journal-Sentinel</a>. "I thought it was crazy, but they were such fun-loving people that it suited them." Marijuana's sisters have relatively common names,&nbsp;Kimberly&nbsp;and&nbsp;Robin.
Despite the challenges, Marijuana Pepsi says she&#8217;s proud of her name and never considered changing it, <a href="https://nypost.com/2024/10/01/lifestyle/woman-named-marijuana-pepsi-from-birth-will-never-change-her-name/">wrote</a> the New York Post. Until she was about 10 years old, she thought &#8220;Marijuana was just a beautiful name.&#8221; But when she moved to a new city, she became keenly aware that her name was different.
<h1 class="wp-block-heading">Got A Nickname? Black Names In White Classrooms</h1>
"When people find out my name, they ask my nickname instead. I tell them if calling me Marijuana isn't comfortable, they can call me Dr. Vandyck." 
Indeed, Marijuana, who married Fredrick Vandyck in 2017, earned a Ph.D. in higher education leadership from Cardinal Stritch University in 2019. Her dissertation topic was "Black Names in White Classrooms: Teacher Behaviors and Student Perceptions," which looked at the effects of unique names on the educational experiences of Black students. 
Her research found that students with distinctly Black names were subject to disrespect, stereotypes and low academic and behavioral expectations. Marijuana said her own name elicited the strongest reactions from white teachers.
&#8220;A lot of other people were thinking [my mom] was smoking marijuana and drinking Pepsi,&#8221; she <a href="https://www.npr.org/2019/06/21/734839666/dr-marijuana-pepsi-wont-change-her-name-to-make-other-people-happy">told</a> NPR, neither of which was the case. &#8220;In the black community, we&#8217;re used to having names that are more cultural.&#8221;
Marijuana works at the Community College of Baltimore County, where she uses her platform to promote positive educational experiences and challenge societal norms around identity and expectations. She is also the founder and executive director of&nbsp;Action As Empowerment&nbsp;Consulting &amp; Solutions, LLC. 
People often assume, again wrongly, that she consumes weed or drinks a lot of Pepsi. In fact, she does neither and never has. 
And when weed companies come calling with offers for promotional opportunities, she declines.
"I do get hit up by marijuana companies, but I wouldn't do anything with them unless it was centered around education,&#8221; Marijuana Pepsi said.
Photo: Courtesy Action As Empowerment

Marijuana Pepsi Has Always Been Proud Of Her Name, More So Now With This Honorific: 'Doctor'

Investment manager fund Chicago Atlantic recently <a href="https://www.businesswire.com/news/home/20241001828224/en/Chicago-Atlantic-and-Silver-Spike-Close-Loan-Portfolio-Acquisition-and-Joint-Venture-Transactions">acquired</a> Silver Spike Investment Corp. (NASDAD: SSIC), the only SEC-approved business development company (BDC) focused on lending to the <a href="https://www.benzinga.com/cannabis">cannabis industry</a>.
As a result, Silver Spike has been renamed Chicago Atlantic BDC, Inc., and its ticker symbol will change to $LIEN on October 2, 2024. Chicago Atlantic originates senior secured loans to state-licensed cannabis operators and has consistently traded at a premium.=
"Chicago Atlantic seeks to capitalize on opportunities in private markets by providing debt capital to lower middle-market companies, typically non-sponsor, and unique industries facing structural reasons for an insufficient supply of capital," said the company&#8217;s new CEO, Andreas Bodmeier.
<h3 class="wp-block-heading">Significant Timing For Cannabis Investors</h3>
The acquisition comes at a critical moment for the cannabis industry, as both <a href="https://www.benzinga.com/markets/cannabis/24/09/40677600/harris-campaign-slams-donald-trump-over-cannabis-shift-calls-it-brazen-flip-flop">presidential candidates </a>are signaling support for marijuana reform, rescheduling of cannabis could boost cash flow in the sector. This shift will likely benefit the company's cannabis-focused lending platform.
"We are excited about the prospects for further growth within our core activity of providing capital to high-quality operators within the cannabis ecosystem,&#8221; said Scott Gordon, executive chairman and co-chief Investment Officer. &#8220;As one of the largest direct lenders to the sector, we see significant potential to continue playing an important role in shaping the flow of much-needed debt financing to the industry."
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/06/39320509/hedge-fund-settles-at-2-25m-with-sec-for-exposed-short-seller-deal-2-cannabis-stocks-affected">Hedge Fund Settles At $2.25M With SEC For Exposed Short Seller Deal, 2 Cannabis Stocks Affected</a>
<h3 class="wp-block-heading">Unique Market Opportunity</h3>
The merger also creates a unique opportunity for investors. 
Chicago Atlantic BDC allows access to credit alpha that differs from traditional BDCs or private credit funds. Bodmeier pointed out the value of this position, noting that "the rapidly growing cannabis sector represents a compelling example of an industry where capital is in short supply."
This acquisition and joint venture between Chicago Atlantic and Silver Spike are expected to strengthen the company's role in providing financing solutions to cannabis operators.
<ul>
<li>Read Next: <a href="https://www.benzinga.com/markets/cannabis/24/08/40506425/new-sec-filings-reveal-major-risks-in-cannabis-etfs-following-recent-volatility-but-theres-still">New SEC Filings Reveal Risks In Cannabis ETFs Following Recent Volatility — But There&#8217;s Still Room For Optimism </a></li>
</ul>
Cover: AI Generated Image

REIT

Press Releases

Real Estate

SSIC

SEC-Approved Cannabis Lender Acquired By Investment Giant, Changes Ticker To $LIEN

The Company&rsquo;s board of directors approved such action on August 22, 2024, and the affected employees were informed of this action beginning on October 1, 2024.
The suspension of the Company&rsquo;s operations in China will involve declaring the Company&rsquo;s wholly-owned subsidiary dormant, which is a legal entity status available under current China law. Under this legal entity status, operational activities cease for a time period not to exceed three years.
By pursuing this entity status, the Company will initiate a project to suspend current operational activities, which are estimated to cease on or before December 31, 2024. Suspension activities include disposal and shipment of certain equipment in China, the termination of 2 employees and related benefit costs, and legal entity filing fees.
In connection with this action, the Company estimates that it will incur approximately $400,000 to $500,000 of costs, primarily consisting of employee termination payments, as well as equipment disposal and shipment and legal filing fees. The Company expects that these charges will be incurred primarily in the fourth quarter of 2024.

CLIR

ClearSign Suspends Operations In China Due To Delayed Progress On Commercialization Of Its Products And As Part Of Efforts To Align Strategic Priorities And To Reduce Operating Costs - Filing

Coinciding with this decision, Kate O&rsquo;Brian, President, Scripps News, will be leaving the Company at the end of the year.
Scripps News will no longer broadcast over the air, although it will remain on streaming and digital platforms with weekday live coverage from the field. As a result of these changes, the Company expects to eliminate more than 200 jobs. We expect approximately 50 Scripps News staff members will remain to report for our local news audiences and produce streaming and digital content, all under the Scripps News brand.

E.W. Scripps To Wind Down Scripps News' 24/7 National Network Programming After November 15; To Eliminate More Than 200 Jobs - Filing

Management

SandRidge Energy Names Vincent Intrieri As Chairman, Effective October 1; Jonathan Frates To Step Down As Chairman Today To Transition To The Role Of Executive Vice President And CFO, Effective October 21

Updated Fiscal 2025&nbsp;Outlook
<ul>
<li>Reducing GAAP net income target to&nbsp;$395 million&nbsp;to&nbsp;$445 million, and Diluted EPS target to&nbsp;$2.70&nbsp;to&nbsp;$3.15</li>
<li>Targeting low-end of target ranges of Adjusted EBITDA(1)&nbsp;of&nbsp;$1,380&nbsp;million to&nbsp;$1,480&nbsp;million</li>
<li>Reducing Adjusted Net Income&nbsp;target to&nbsp;$600 million&nbsp;to&nbsp;$615 million&nbsp;and Adjusted Diluted EPS&nbsp;target to&nbsp;$4.15&nbsp;to&nbsp;$4.35</li>
<li>Reducing capital expenditures target by&nbsp;$100 million&nbsp;to&nbsp;$750 million</li>
</ul>

Guidance

Lamb Weston Reaffirms FY25 Net Sales Outlook Of $6.6B - $6.8B (Est $6.615B), Revises Adjusted EPS Target To $4.15 - $4.35 (Est $4.48)

Futu Holdings Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FUTU#NASDAQ">FUTU</a>) shares continued higher after-hours on Tuesday as shares of China-based companies rose following additional stimulus measures aimed at boosting China's economy were <a href="https://www.benzinga.com/news/24/09/41097864/china-stocks-jump-as-stimulus-optimism-mounts-whats-going-on">announced over the weekend. </a>
The Details: China announced additional stimulus measures including lower mortgage rates and looser real estate purchase restrictions over the weekend. The new measures follow a package of extensive stimulus measures including lower interest rates and additional liquidity for its banking system announced last week. 
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/41071876/mojo-is-back-at-tesla-says-tech-analyst-dan-ives-ahead-of-q3-deliveries">Tesla &#8216;Mojo Is Back,&#8217; Tech Analyst Dan Ives Says Ahead Of Q3 Deliveries</a>
Additionally, China's central bank will set up a swap facility that would give non-bank financial institutions access to at least $71 billion (500 billion yuan) in funding to buy shares, in an effort aimed at stabilizing China's stock market. 
Futu, which operates trading platforms in China and around the world, may benefit from increased capital in the markets resulting from the intensive stimulus package. Futu shares have gained more than 40% over the past five days as investors pile into U.S.-traded Chinese stocks.&nbsp;
FUTU Price Action: According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, Futu Holdings shares ended Tuesday&#8217;s session up 12.43% at $107.54; shares are up 0.65% at $108.24 in after-hours trading.
Read Also:
<ul>
<li><a href="https://www.benzinga.com/news/24/09/41070564/amazon-prime-day-data-insights-before-october-event-apple-purchases-up-22-celsius-tops-grocery-categ">Amazon Prime Day Data Insights Before October Event: Apple Purchases Up 22%, Celsius Tops Grocery Category</a></li>
</ul>
Photo: Shutterstock

Global

Movers

FUTU

What's Going On With Futu Holdings' Stock?

Gilead Sciences (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GILD#NASDAQ">GILD</a>) has outperformed the market over the past 20 years by 3.1% on an annualized basis producing an average annual return of 11.54%. Currently, Gilead Sciences has a market capitalization of $104.43 billion. 
Buying $1000 In GILD: If an investor had bought $1000 of GILD stock 20 years ago, it would be worth $8,831.14 today based on a price of $83.88 for GILD at the time of writing.
<h3>Gilead Sciences's Performance Over Last 20 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1727818474_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Trading Ideas

GILD

$1000 Invested In This Stock 20 Years Ago Would Be Worth $8,800 Today

Norfolk Southern (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NSC#NYSE">NSC</a>) has outperformed the market over the past 20 years by 4.85% on an annualized basis producing an average annual return of 13.29%. Currently, Norfolk Southern has a market capitalization of $56.10 billion. 
Buying $1000 In NSC: If an investor had bought $1000 of NSC stock 20 years ago, it would be worth $12,247.78 today based on a price of $248.14 for NSC at the time of writing.
<h3>Norfolk Southern's Performance Over Last 20 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1727818469_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

If You Invested $1000 In This Stock 20 Years Ago, You Would Have $12,000 Today

Restructuring Plan
<ul>
<li>Restructuring actions expected to generate approximately&nbsp;$55 million&nbsp;of pre-tax cost savings in fiscal 2025 and a&nbsp;$100 million&nbsp;reduction in capital expenditures in fiscal 2025</li>
<li>Key actions include closing Connell, Washington facility, temporarily curtailing production lines and schedules in North America, reducing approximately&nbsp;4%&nbsp;of global workforce, and eliminating unfilled job positions</li>
<li>Expected to record total estimated pre-tax charges of&nbsp;$200 million&nbsp;to&nbsp;$250 million</li>
</ul>

Lamb Weston Plans Reducing Approximately 4% Of Global Workforce, And Eliminating Unfilled Job Positions

Lamb Weston Hldgs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LW#NYSE">LW</a>) reported quarterly earnings of $0.73 per share which beat the analyst consensus estimate of $0.71 by 2.82 percent. The company reported quarterly sales of $1.65 billion which beat the analyst consensus estimate of $1.56 billion by 6.34 percent. This is a 0.66 percent decrease over sales of $1.67 billion the same period last year.

Earnings

Earnings Beats

Lamb Weston Q1 2025 Adj EPS $0.73 Beats $0.71 Estimate, Sales $1.65B Beat $1.56B Estimate

ATCH

AtlasClear Files With SEC  A Notification Of Late Filing For Its Transition Report

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
For many people, the most important thing about investing is knowing which stocks to buy, and when to buy them. If you&rsquo;re a buy-and-hold investor, then you&rsquo;re going to keep your picks for a long time. If you&rsquo;re a more active trader, then you&rsquo;re also looking for the perfect time to take your profits and move on. 



It&rsquo;s critically important for any investor to also be able to recognize which stocks to avoid &ndash; because those are the stocks that will wreck your portfolio if given the chance.



This has been an interesting year in the market so far. <a href="https://investorplace.com/industries/technology/">Tech stocks</a> are continuing to rule the day, with the tech-heavy Nasdaq composite up nearly 10% on the year. The S&amp;P 500 is doing well as well, up 7%. Meanwhile, the benchmark Dow Jones Industrial Average shows only a 2% gain for the year.



With those kinds of gains on the table, it would be tragic to bury your money into F-rated stocks. The &ldquo;F&rdquo; rating comes from the Portfolio Grader &ndash; a free service that evaluates stocks on an &ldquo;A&rdquo; through &ldquo;F&rdquo; scale based on growth, earnings performance, analyst sentiment and trading momentum.



No tool is infallible, but I&rsquo;ve found the Portfolio Grader to be an ideal system to help investors of all stripes ferret out which stocks are worth your attention and which ones are stocks to avoid. The names on this list definitely fall within the latter category.



<h2>Lucid Motors (LCID)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/03/cciv-stock-2-300x169.jpg" alt="The Lucid Motors (LCID) Plant in Arizona."><div>Source: Around the World Photos / Shutterstock.com</div></div>It&rsquo;s an easy choice to kick off any list of stocks to avoid with the struggling electric vehicle company Lucid Motors (NASDAQ:<a href="https://investorplace.com/stock-quotes/lcid-stock-quote/">LCID</a>). Once thought to be a legitimate rival to Tesla (NASDAQ:<a href="https://investorplace.com/stock-quotes/tsla-stock-quote/">TSLA</a>), Lucid has failed to scale its business and is a major disappointment.



How can any company be considered a possible Tesla killer when it only produced 6,001 vehicles last year? In the first quarter of this year, Lucid manufactured another 1,728 vehicles and delivered 1,967.



Bulls will point out that Lucid managed to beat expectations for revenue in the first quarter, bringing in $173 million versus the expected $154 million. But that was only because of Lucid&rsquo; vehicle sales to the <a href="https://www.barrons.com/articles/lucid-earnings-stock-price-suv-8f036253">Saudi Arabian government</a>. When you look at external customers, demand for Lucid vehicles is falling. (Saudi Arabia&rsquo;s Public Investment Fund has a 60% stake in Lucid.)



LCID stock is down 32% this year and gets an &ldquo;F&rdquo; rating in the Portfolio Grader.



<h2>Akoustis Technologies (AKTS)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2023/03/down-arrow-coins-stocks-sell-1600-300x169.jpg" alt="Photo of stair of coins with red arrow headed downward over top of the coin stacks"><div>Source: shutterstock.com/Pla2na</div></div>Akoustis Technologies (NASDAQ:<a href="https://investorplace.com/stock-quotes/akts-stock-quote/">AKTS</a>) is a North Carolina company that designs, develops, manufactures and sells radio frequency filter products. It operates a 125,000-square-foot wafer manufacturing facility in New York to design and build filters and other semiconductor devices.



But its most recent earnings report was a major disappointment. Revenue in the third fiscal quarter of 2024 was $7.51 million, up 2.1% from a year ago, but missed analyst estimates by 12%.



The company posted a net loss of $23.3 million, which was a 50% increase from a year ago, and lost 26 cents per share versus a loss of 23 cents per share a year ago. The EPS mark was particularly disappointing, as it missed analysts&rsquo; estimates by 86%.



The quarter ended with Akoustis having only <a href="https://ir.akoustis.com/news-events/press-releases/detail/355/akoustis-reports-third-quarter-fy24-results">$15.2 million on cash on hand</a> and assets of $28.5 million, down from $43.1 million in cash and total assets of $59.8 million a year ago. So is no surprise that Akoustis is now selling an additional <a href="https://ir.akoustis.com/news-events/press-releases/detail/357/akoustis-announces-10-million-registered-direct-offering">50 million shares of stock</a>, priced at 20 cents per share, in an effort to raise $10 million to fund operations.



AKTS stock is down 79% this year and gets an &ldquo;F&rdquo; rating in the Portfolio Grader.



<h2>Verastem (VSTM)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/bio1600-300x169.jpg" alt="MRNA Stock Will Continue Its Slump, but a $25 It Will Be a Great Buy"><div>Source: Shutterstock</div></div>Verastem (NASDAQ:<a href="https://investorplace.com/stock-quotes/vstm-stock-quote/">VSTM</a>) is a biopharmaceutical company that is working on treatments for cancer. The company is focused specifically on RAS pathway-driven cancers and is developing treatments targeted toward mutated RAS genes.



Verastem is seeking FDA approval for avutometinib and defactinib combination for patients with recurrent KRAS gene mutant low-grade serous ovarian cancer. The rolling review process allows the company to submit completed sections of an application for FDA review before all sections are available.



While this could be a great breakthrough for patients, investors would be wise to be cautious. Clinical trials and FDA approval are costly, time-consuming, and sometimes yield no results. Developing a breakthrough drug can lead to highly profitable rewards.



Verastem has $110.1 million in cash at the end of the first quarter, having losing $33.9 million in the period. Research and development costs were $17.7 million, and selling, general and administrative expenses were $10.4 million.



The company is investing more in preparation for a potential launch of avutometinib and defactinib treatment. The stock price dropped 59% when it announced its FDA approval plans. 



Once trading as high as $14 per share, VSTM stock is down to penny stock territory now, having lost 56% in value so far on the year. It gets an &ldquo;F&rdquo; rating in the Portfolio Grader.



<h2>Mullen Automotive (MULN)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2023/01/muln1600-2-300x169.png" alt="In this photo illustration, the Mullen Technologies (MULN) logo is displayed on a smartphone screen"><div>Source: rafapress / Shutterstock.com</div></div>Mullen Automotive (NASDAQ:<a href="https://investorplace.com/stock-quotes/muln-stock-quote/">MULN</a>) is another struggling electric vehicle company. 



Like Lucid, it had high expectations that it would challenge Tesla, and its encountered similar issues with trying to scale the business to make a dent in the EV field.



Mullen had a wild 2023 just trying to stay relevant. On three separate occasions it triggered a reverse stock split to keep the stock price over $1 per share and maintain Nasdaq compliance. The last of those splits was a 1-for-100 split that on paper pushed the stock price higher. But in reality, the value of Mullen shares fell by 99% over the course of the year.



Mullen&rsquo;s strategy is now to go into commercial EVs. Its expanding its distribution network into&nbsp;<a href="https://finance.yahoo.com/news/mullen-announces-european-distributor-gama-130000336.html">Eastern Europe</a>&nbsp;and it signed a new deal to supply 40 commercial vehicles to a company in&nbsp;<a href="https://finance.yahoo.com/news/mullen-automotive-secures-major-european-183010622.html">Switzerland</a>. Mullen also completed the first phase of its&nbsp;<a href="https://investorplace.com/2024/04/muln-stock-alert-mullen-hits-new-battery-pack-milestone/">battery line integration</a>&nbsp;at its California plant in hopes of commercializing EV battery packs.



While it finally saw some revenue in the second quarter of fiscal 2024 &mdash; $33,000 &ndash; it also saw losses of $177.3 million. And now with only $22.3 million in cash and cash equivalents left, Mullen will need to find more funding if it&rsquo;s going to keep up this level of cash burn.



MULN stock is down 73% this year and gets an &ldquo;F&rdquo; rating in the Portfolio Grader.



<h2>Takeda Pharmaceutical (TAK)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/03/pharmaceuticals_tnxp_1600-300x169.png" alt="medicine research, pharmaceutical background, LJPC stock"><div>Source: Sisacorn / Shutterstock.com</div></div>Takeda Pharmaceutical (NYSE:<a href="https://investorplace.com/stock-quotes/tak-stock-quote/">TAK</a>) is a Japanese pharmaceutical company that has a large presence in the U.S. as well. The company traces its roots back to the 18th century and currently operates in 80 countries.



Its top-selling drug is Entyvio, which treats patients with ulcerative colitis and Crohn&rsquo;s disease. Revenues in 2022 for Entyvio were $4.5 billion.



It also makes Vynanse, which is a popular drug for attention deficit disorder. But it lost exclusivity for the drug in 2023 and generic competitors are now on the market.



<a href="https://assets-dam.takeda.com/image/upload/v1715231595/Global/Investor/Financial-Results/FY2023/Q4/q4_fy2023_press_release_en.pdf">Earnings for 2023</a> were 4.26 trillion yen, ($272.6 billion), up 5.9% from a year ago. But net profit was 144 billion yen and EPS was 92 billion yen, both down 54% from a year ago.



Takeda forecast 2024 revenue of 4.35 trillion yen, with core revenue flat to slightly declining. It also forecast a 10% decline in operating profit and an EPS decline in the mid-10%.



TAK stock is down 6% this year but doesn&rsquo;t have a strong growth story for 2024. It gets an &ldquo;F&rdquo; rating in the Portfolio Grader.



<h2>Cue Health (HLTH)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/08/healthcare1600d-300x169.jpg" alt="Healthcare professional in green scrubs standing with arms crossed."><div>Source: Shutterstock</div></div>Cue Health (NASDAQ:<a href="https://investorplace.com/stock-quotes/hlth-stock-quote/">HLTH</a>) is a tiny health care company with a market capitalization of only $9 million. The San Diego-based company provides a platform that provides patients and health care workers with access to lab-quality diagnostic tests at home and in a doctor&rsquo;s office.



Its Covid-19 test was the first home use respiratory tests to get approval from the FDA.



Unfortunately for Cue, people aren&rsquo;t testing for Covid-19 in 2024 at the same frequency they were in the last few years. In addition, Cue received a <a href="https://www.fda.gov/inspections-compliance-enforcement-and-criminal-investigations/warning-letters/cue-health-inc-675673-05092024">warning letter</a> in May from the FDA about its home Covid-19 tests. 



The letter alleged that the company made changes to the test without approval from the government oversight agency. The FDA issued a <a href="https://www.fda.gov/medical-devices/safety-communications/do-not-use-cue-healths-covid-19-tests-due-risk-false-results-fda-safety-communication">public statement</a> saying not to use the Cue test because it could issue a false result.



Cue says it&rsquo;s evaluating the letter but has not made a further comment. It was scheduled to issue its first-quarter earnings report on May 13 but has not done so.



HLTH stock is down 62% this year and gets an &ldquo;F&rdquo; rating in the Portfolio Grader.



<h2>Blue Star Foods (BSFC)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/sell-thumbs-down-one-300x169.jpg" alt="a businessman with his thumb facing down"><div>Source: Shutterstock</div></div>Blue Star Foods (NASDAQ:<a href="https://investorplace.com/stock-quotes/bsfc-stock-quote/">BSFC</a>) is a Miami-based seafood company. It imports, packages and sells crab meat and salmon in many major grocery stores throughout the U.S.



But with a limited product base, Blue Star has some inherent risks. The population of crab can fluctuate because of disease or biological issues. Market demand can also factor into Blue Star earnings. In addition, the <a href="https://app.quotemedia.com/data/downloadFiling?webmasterId=102213&amp;ref=318207335&amp;type=PDF&amp;symbol=BSFC&amp;cdn=1ddbb1099d22575dbc67179b9c4d79de&amp;companyName=Blue+Star+Foods+Corp.&amp;formType=10-K&amp;formDescription=Annual+report+pursuant+to+Section+13+or+15%28d%29&amp;dateFiled=2024-04-01">worldwide supply of natural fish is dropping</a> and causing many countries to limit the amount of seafood that can be caught and harvested.



Blue Star had revenue of $2.3 million in the first quarter, up from $1.9 million a year ago. The net loss was $1.1 million, from a loss of $2 million in the same quarter a year ago.



Blue Star, which recently executed a reverse 1-for-50 stock split to keep its stock price in compliance with Nasdaq listing rules, is down 68% this year. It gets an &ldquo;F&rdquo; rating in the Portfolio Grader.



On the date of publication, neither Louis&nbsp;Navellier nor the InvestorPlace Research Staff member primarily responsible for this article held (either directly or indirectly) any positions in the securities mentioned in this article.
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The post <a href="https://investorplace.com/market360/2024/06/7-f-rated-stocks-to-avoid-at-all-costs-in-june/">7 F-Rated Stocks to Avoid at All Costs in June</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

7 F-Rated Stocks to Avoid at All Costs in June

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Steer clear of stocks to avoid in order to effectively protect your investment portfolio.



Moreover, the essence of investing is identifying the next high-flying stock and knowing which stocks to avoid. Additionally, in the past year, we&rsquo;ve seen how investors have rushed into stocks with overstretched valuations in the fear of missing out. Also, several investors have tried to catch the next big AI penny stock, only to catch falling knives instead.



Keeping that in mind, you should prune the following three stocks from your portfolio.



<h2>Lucid Group (LCID)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2023/07/lcid1600-1-300x169.png" alt="Lucid Air car of Lucid Automotive (LCID) Manufacturer at the event, EV Lucid Car Showroom."><div>Source: Khosro / Shutterstock.com</div></div>Once a promising player in the hotly competitive Chinese EV space, Lucid Group (NASDAQ:<a href="https://investorplace.com/stock-quotes/lcid-stock-quote/">LCID</a>) languishes in penny stock territory. LCID stock is trading more than 95% below its all-time high of $58.05 in February 2021. Moreover, it continues to get hammered by the stock market due to deplorable sales and a relentless cash burn.



Unlike most of its competition, though, Lucid&rsquo;s survival hinges on the dilutive yet critical cash infusions from Saudi Arabia&rsquo;s Public Investment Fund (PIF). However, such a strategy is unlikely to bear fruit as Lucid struggles to find its feet in the EV space. Additionally, its cash reserves <a href="https://seekingalpha.com/symbol/LCID/balance-sheet">have dropped roughly 65%</a> from their 2021 balance of $6.26 billion.



In recent news, the company <a href="https://seekingalpha.com/news/4110179-lucid-group-lays-off-6-of-its-workforce-as-part-of-a-restructuring-plan?source=content_type%3Areact%7Csection%3Asummary%7Csection_asset%3Aall_news%7Cfirst_level_url%3Asymbol%7Cbutton%3ATitle%7Clock_status%3ANo%7Cline%3A4">laid off 6% of its workforce</a> to control the bleeding. Nevertheless, forward estimates suggest that the company will remain in the red this year and the next. Hence, with the broader market slowdown in mind, LCID is arguably the worst EV stock bet at this point.



<h2>Peloton Interactive (PTON)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/09/pton1600-300x169.jpg" alt="Peloton (PTON stock) sign on city storefront. Peloton layoffs"><div>Source: JHVEPhoto / Shutterstock.com</div></div>Peloton Interactive (NASDAQ:<a href="https://investorplace.com/stock-quotes/pton-stock-quote/">PTON</a>), once the crown jewel of pandemic fitness, is now struggling to survive in the post-pandemic slump. 



With people favoring gym sessions instead of home workouts, Peloton Interactive&rsquo;s connected exercise equipment has fallen completely out of favor. It&rsquo;s up against multiple headwinds, including stiff competition, the economic slowdown and operational hurdles.



The company hasn&rsquo;t turned a profit since December 2020 and is unlikely to do so in the near future. Additionally, multiple safety recalls, including the most recent one in May, recalled two million bikes. Also, the firm has <a href="https://www.cnbc.com/2024/05/02/peloton-ceo-barry-mccarthy-steps-down-15percent-of-staff-laid-off.html">slashed 15% of its workforce</a> and seen its Chief Executive Officer (CEO) depart, part of its belt-tightening efforts.



Despite these measures, analysts forecast that despite aggressive cost-cutting measures and strategic overhauls, Peloton Interactive is likely to continue posting losses for the foreseeable future. PTON stock dipped <a href="https://seekingalpha.com/symbol/PTON/momentum/performance">more than 50% last year</a> and north of 40% year-to-date (YTD), offering limited upside potential for investors.



<h2>Akoustis Technologies (AKTS)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/02/warning-alarm-sounding-signal-1600-300x169.jpg" alt="Photo of alarm tower with speakers against blue sky, representing warning"><div>Source: shutterstock.com/jakkapan</div></div>North Carolina-based Akoustis Technologies (NASDAQ:<a href="https://investorplace.com/stock-quotes/akts-stock-quote/">AKTS</a>) develops sophisticated radio frequency filter products. 



Despite operating a high-growth business over the years, it has witnessed a dramatic slowdown in recent quarters. It has missed top-line estimates by considerable margins in five of the past six quarters. Additionally, it has missed earnings estimates in the past four quarters. Consequently, the stock is <a href="https://seekingalpha.com/symbol/AKTS/momentum/performance">down more than 70% YTD</a>, following up on its dismal showing last year, when it lost 95%.



Moreover, this shortfall reflects deeper financial woes, indicated by a 50% jump in net losses to $23.3 million and a disappointing earnings per share (EPS) deficit of 26 cents. Furthermore, the firm&rsquo;s cash till and short-term assets base has dropped a substantial 65% from June last year, <a href="https://seekingalpha.com/symbol/AKTS/balance-sheet">currently at just $15.2 million in cash</a>. &nbsp;Additionally, to stay afloat, it recently issued 50 million shares at a mere 20 cents each, aiming to gather $10 million for its working capital needs.



On the&nbsp;date of publication, Muslim Farooque did not have (either&nbsp;directly or indirectly) any positions in the securities mentioned in this article.&nbsp;The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>
<div>Muslim Farooque is a keen investor and an optimist at heart. A life-long gamer and tech enthusiast, he has a particular affinity for analyzing technology stocks. Muslim holds a bachelor&rsquo;s of science degree in applied accounting from Oxford Brookes University.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/06/3-stocks-no-one-in-their-right-mind-would-own-right-now-june-edition/">3 Stocks No One in Their Right Mind Would Own Right Now: June Edition</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

3 Stocks No One in Their Right Mind Would Own Right Now: June Edition

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Akoustis Technologies Announces Executive Leadership Changes

Akoustis Technologies CEO Jeffery Shealy resigns

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