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American Well

American Well Corp is a telehealth company enabling digital delivery of care for its customers. Its platform, Amwell, digital care delivery solution that equips health systems, health plans, government, and innovator clients with the tools to enable new models of care for their patients and members enabling care delivery across the full healthcare continuum - from primary and urgent care in the home to high acuity specialty consults, such as telestroke and telepsychiatry, in the hospital. It provides both on-demand and scheduled consultations. Its Health Plan Programs include Virtual Primary Care, Musculoskeletal Care, Dermatology Care, and Chronic Care among others.

American Well Corporation Class A Common Stock

American Well Corp

President Joe Biden praised Nigerian President Bola Tinubu&#8216;s leadership for his instrumental role in ensuring the release of Binance (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/bnb/usd">BNB</a>) executive&nbsp;Tigran Gambaryan.
What Happened: President Biden had a call with President Tinubu on Tuesday, according to a statement from the White House. Biden appreciated Tinubu&#8217;s efforts in securing the release of Gambaryan, a U.S. citizen and former law enforcement official, on humanitarian grounds.
Biden expressed particular gratitude for the cooperation in law enforcement, including the newly established Bilateral Liaison Group on Illicit Finance and Cryptocurrencies.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41616100/peter-schiff-asks-followers-if-microstrategy-can-tower-this-gold-mining-giant-in-marketcap">Peter Schiff Asks Followers If MicroStrategy Can Tower This Gold Mining Giant In Marketcap — Here&#8217;s The Message They Delivered</a>
Why It Matters: Biden&#8217;s gesture comes a week after the Nigerian government <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41487927/nigeria-drops-money-laundering-charges-against-binance-executive-amid-diplomatic-pressure">dropped all money laundering charges </a>against Gambaryan, a Binance executive who had been in detention since February. His bail hearings and other court proceedings were&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38339166/binance-executives-bail-hearing-postponed-in-nigeria-due-to-procedural-mixups" target="_blank" rel="noreferrer noopener">repeatedly postponed due to administrative errors</a>.
Gambaryan was seen <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40680724/binance-executive-tigran-gambaryan-pleads-for-help-in-nigerian-courtroom-im-not-okay">pleading for help</a> in the Nigerian courtroom, as videos surfaced revealing a rapid deterioration in his health.
The case drew significant diplomatic attention, with discussions <a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39221038/former-federal-agents-rally-demand-for-release-of-detained-binance-executive-in-nigeria-ur">between U.S. and Nigerian officials</a> aimed at securing Gambaryan&#8217;s release.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41616239/shytoshi-kusama-touts-shiba-inu-lifetime-gains-of-33774726-we-still-have-far-to-go-and-muc">Shytoshi Kusama Touts Shiba Inu Lifetime Gains Of 33774726%: &#8216;We Still Have Far To Go And Much Work To Be Done&#8217;</a></li>
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Disclaimer:&nbsp;This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.<a href="https://www.benzinga.com/apis?utm_source=benzinga.com&amp;utm_campaign=article-bottom" rel="noreferrer noopener" target="_blank"></a>

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

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$BNB

Biden Praises Nigeria's Leader For Role In Binance Executive Tigran Gambaryan's Freedom

Bitcoin pulled back from near-new highs Tuesday, while stocks rallied on Alphabet Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) better-than-expected third-quarter earnings.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 8:30 p.m. EDT)</td>
</tr>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>+3.66%</td>
<td>$72,287.07</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>+2.31%</td>
<td>$2,625.49</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>+7.15%</td>
<td>$0.1757</td>
</tr>
</tbody>
</table>
</figure>
What Happened: The world's largest cryptocurrency was within touching distance of making history as it flew to $73,577, just $160 away from the peak established earlier in March. However, the advance was halted as investors started cashing out.
With the latest rally, Bitcoin&#8217;s October gains jumped to 14.26%, as the month delivered on its promise of being one of the most rewarding in the market.
Don&#8217;t Miss:
<ul>
<li>If you invested $100 in DOGE when Elon Musk first tweeted about it in 2019, <a href="https://www.benzinga.com/money/etoro-doge" target="_blank" rel="noreferrer noopener">here&#8217;s how much you&#8217;d have today</a>.</li>
<li>Over the last five years, the price of gold has increased by approximately 83% — Investors like Bill O&#8217;Reilly and Rudy Giuliani are using this platform to <a href="https://www.benzinga.com/money/american-hartford-gold">create customized gold IRAs to help shield their savings from inflation and economic turbulence.</a></li>
</ul>
Ethereum also pulled back after scaling an intraday high of $2,680.
The rally liquidated nearly $185 million in leveraged short positions over the last 24 hours, with total cryptocurrency liquidations surging to $257 million.
Bitcoin's Open Interest soared 5.11% to $43.17 billion in the last 24 hours.&nbsp;
The number of long positions held by whale investors on cryptocurrency exchange Binance exceeded the number of shorts by a factor of 1.42
Top Gainers (24-Hours)
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 8:30 p.m. EDT)</td>
</tr>
<tr>
<td>Sui (SUI)</td>
<td>+14.89%</td>
<td>$2.11</td>
</tr>
<tr>
<td>First Neiro On Ethereum (NEIRO)</td>
<td>+10.61%</td>
<td>$0.00172</td>
</tr>
<tr>
<td>Aptos (APT)</td>
<td>+8.75%</td>
<td>$10.09</td>
</tr>
</tbody>
</table>
</figure>
The global cryptocurrency stood at $2.43 trillion, following an increase of 3.04% in the last 24 hours.
Stocks bumped to new highs Tuesday. The tech-heavy Nasdaq Composite surged 145.56 points, or 0.78%, to end at a record close of 18,712.75. The S&amp;P 500 gained 0.16% to end at 5,832.92. To the contrary, the Dow Jones Industrial Average slipped 0.36% to end at 42,233.05.
The rally came ahead of the third-quarter earnings report of the so-called "Magnificent 7" companies. Tech behemoth Alphabet released its numbers after market close, with <a href="https://www.benzinga.com/news/earnings/24/10/41611263/alphabet-q3-earnings-highlights-revenue-beat-eps-beat-google-cloud-up-35-momentum-across-the-compan">revenue and earnings beating analysts' estimates</a>.&nbsp;
See More: Deloitte's fastest-growing software company partners with Amazon, Walmart &amp; Target – <a href="https://www.benzinga.com/money/mode-mobile-2" target="_blank" rel="noreferrer noopener">You can still get 4,000 of its pre-IPO shares for just $1,000</a>
Analyst Notes: Popular cryptocurrency analyst Rekt Capital noted Bitcoin's rollicking journey to new all-time highs, adding that a monthly close around the $72,800 zone will be its highest ever.
"Without a shadow of a doubt, we&#8217;re witnessing history in the making before our very eyes," the analyst remarked.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> A Monthly Candle Close just like this would be Bitcoin&#39;s highest Monthly Candle Close of all-time Without a shadow of a doubt, we&#39;re witnessing history in the making before our very eyes<a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> <a href="https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw">#Crypto</a> <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <a href="https://t.co/Zaas4HbYT7">https://t.co/Zaas4HbYT7</a> <a href="https://t.co/2MRpS1UkJh">pic.twitter.com/2MRpS1UkJh</a>
&mdash; Rekt Capital (@rektcapital) <a href="https://twitter.com/rektcapital/status/1851318692664979968?ref_src=twsrc%5Etfw">October 29, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Another well-known analyst, Ali Martinez, called attention to Bitcoin's MVRV Ratio's golden cross above its 365-day simple moving average, an event that has preceded "major" bull rallies throughout history.
<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">While <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> at $72,000 might feel like a late entry, history suggests otherwise. The MVRV Ratio crossing over its 365-SMA has often signaled major bull rallies, and this golden cross just happened again! <a href="https://t.co/Awkh0WdIOK">pic.twitter.com/Awkh0WdIOK</a>
&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1851413204737372252?ref_src=twsrc%5Etfw">October 29, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Additionally, Martinez raised expectations for Ethereum, projecting a target of $6,000 after it managed to hold on to the key support level at $2,400.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw">#Ethereum</a> <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> has held the $2,400 support level and now might target the channel&#39;s upper boundary around $6,000! <a href="https://t.co/JecnkOercu">https://t.co/JecnkOercu</a> <a href="https://t.co/R3tss1tFLa">pic.twitter.com/R3tss1tFLa</a>
&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1851360104920068131?ref_src=twsrc%5Etfw">October 29, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Photo by Igor Faun on Shutterstock
Read Next:    
<ul>
<li>This Adobe-backed AI marketing startup went from a $5 to $85 million valuation working with brands like L'Oréal, Hasbro, and Sweetgreen in just three years –<a href="https://www.benzinga.com/money/rad-ai"> here's how there's an opportunity to invest at $1,000 for only $0.50/share today.</a></li>
<li>If there was a new fund backed by Jeff Bezos offering a <a href="https://www.benzinga.com/money/arrived-private-credit-fund">7-9% target yield with monthly dividends would you invest in it</a>?</li>
</ul>

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GOOGL

Bitcoin Hovers Around New All-Time High, Ethereum, Dogecoin Surge As Crypto Market In Turbo Mode: Top Analyst Says, 'History In The Making'

Earnings

Guidance

FVRR

Fiverr Expects Q4 Revenue Of $100.2M-$102.2M Vs. $100.641M Consensus And Adjusted EBITDA Of $19.5M-$21.5M

Financial Outlook
Our Q4'24 outlook and updated full-year 2024 guidance reflect the recent trends in our marketplace.
<figure class="table"> 
<table>
<tbody>
<tr>
<td>&nbsp;</td>
<td>Q4 2024</td>
<td>FY 2024</td>
</tr>
<tr>
<td>Revenue</td>
<td>$100.2 - $102.2 million</td>
<td>$388.0 - $390.0 million</td>
</tr>
<tr>
<td>y/y growth</td>
<td>9% - 12% y/y growth</td>
<td>7% - 8% y/y growth</td>
</tr>
<tr>
<td>Adjusted EBITDA(1)</td>
<td>$19.5 - $21.5 million</td>
<td>$73.0 - $75.0 million</td>
</tr>
</tbody>
</table>
</figure>
 &nbsp;

Fiverr Raises 2024 Outlook: Now Sees Revenue Of $388M-$390M (Prior $383M-$387M) Vs. $385.134M Consensus, And Adjusted EBITDA Of $73M-$75M (Prior $69M-$73M)

Fiverr International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FVRR#NYSE">FVRR</a>) reported quarterly earnings of $0.64 per share which beat the analyst consensus estimate of $0.59 by 8.47 percent. This is a 16.36 percent increase over earnings of $0.55 per share from the same period last year. The company reported quarterly sales of $99.628 million which beat the analyst consensus estimate of $96.416 million by 3.33 percent. This is a 7.67 percent increase over sales of $92.532 million the same period last year.

Earnings Beats

Fiverr International Q3 2024 Adj. EPS $0.64 Beats $0.59 Estimate, Sales $99.628M Beat $96.416M Estimate

Former Apple Inc. executive and co-creator of the iPod, Tony Fadell has expressed his disapproval of Silicon Valley&#8217;s entitlement culture and the use of large language models.
What Happened:&nbsp;On Tuesday, Fadell, who is also the founder and former CEO of Nest Labs, took the stage at TechCrunch <a href="https://techcrunch.com/2024/10/29/tony-fadell-on-mission-driven-aholes-silicon-valley-entitlement-and-why-llms-are-know-it-alls/">Disrupt</a> 2024.
During the conversation, he underscored the importance of &#8220;mission-driven a&#x2A;&#x2A;holes&#8221; in the development of top-tier technology products.
Drawing a distinction between egocentric and mission-driven individuals, Fadell commended the latter for their attention to detail and critique of work, not people.
See Also:&nbsp;<a href="https://www.benzinga.com/markets/equities/24/10/41599095/team-bidens-ban-on-china-tech-investments-could-impact-teslas-ai-plans-report?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Team Biden&#8217;s Ban On China Tech Investments Could Impact Tesla&#8217;s AI Plans: Report</a>
The tech mogul also took a swipe at Silicon Valley&#8217;s entitlement, humorously commenting on the culture of Googlers and their work habits. He voiced his disapproval of startups hiring Googlers due to their perceived entitlement.
&#8220;We said, we will never hire people from the East Coast,&#8221; referring to his time at General Magic in the 90s, adding, &#8220;because they had to have their driver, or they had to have their company car, and they had to have their corporate lunch and their special executive toilet.&#8221;
&#8220;And now I wake up today, and Silicon Valley has turned into that s&#x2A;&#x2A;&#x2A;, and I'm like, get me the f&#x2A;&#x2A;&#x2A; out of here, yeah? Entitlement everywhere,&#8221; he stated.
Fadell further criticized LLMs, describing them as &#8220;know-it-alls.&#8221; He argued that while LLMs can be beneficial in certain areas like entertainment, their adoption should not be universal due to their propensity for errors.
&#8220;If you look at artificial-specific models, they work really well,&#8221; he said, adding, &#8220;They don't hallucinate, but LLMs are trying to be this general thing because we're trying to make science fiction happen.&#8221;
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Why It Matters: Fadell&#8217;s critique of LLMs comes at a time when AI technology is increasingly being integrated into various sectors, including healthcare.
Last year, Google&#8217;s medical AI chatbot, Med-PaLM 2, began testing at the Mayo Clinic. The chatbot, a variant of the PaLM 2 language model, was specifically <a href="https://www.benzinga.com/news/23/07/33167659/googles-medical-ai-chatbot-is-being-tested-in-hospitals-to-answer-questions-summarize-documents-and">tailored for medical institutions</a>.
Despite concerns about AI hallucinations,&nbsp;a 2023 study also suggested that chatbots like OpenAI&#8217;s ChatGPT could be more <a href="https://www.benzinga.com/news/23/05/32159669/chatgpt-more-empathetic-than-real-doctors-says-study-amid-worries-about-hallucinations">empathetic than actual doctors</a>.
However, not all industry leaders share the same optimism about AI in healthcare.
Earlier this year in September, billionaire investor Chamath Palihapitiya expressed a more cautious view, acknowledging the potential of AI <a href="https://www.benzinga.com/news/24/09/41038801/spac-king-chamath-palihapitiya-forecasts-how-ai-will-transform-healthcare-sector-its-not-all-roses-b">but also highlighting its limitations</a>.
&#8220;It's not all roses, but some areas if you imagine them, I'll give you a couple if you want, are just bananas, I think,&#8221; he stated at the time.
Photo by @kmeron On Flickr
Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:
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<li><a href="https://www.benzinga.com/news/24/10/41559160/elon-musks-2-9k-offer-rejected-by-sec-agency-requests-judge-to-sanction-billionaire-over-missed-depo?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk&#8217;s $2.9K Offer Rejected By SEC, Agency Requests Judge To Sanction Billionaire Over Missed Depositions</a></li>
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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.

Tech

Media

iPod Co-Creator Tony Fadell Dismisses ChatGPT Type LLMs Saying 'We're Trying To Make Science Fiction Happen' — Bashes Silicon Valley's Entitlement

Bhutan transferred millions worth of state-owned Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) to Binance after a four-month hiatus, sparking speculations of profit-taking as the top cryptocurrency surged toward all-time highs.
What Happened: On Tuesday, on-chain analytics firm Arkham Intelligence disclosed that the Bhutanese government moved a sizable portion of its stash, up to 832.249 BTC, worth $60.16 million at the current market price, to the leading cryptocurrency exchange. The last time such a transaction occurred was in July, marking a four-month gap.
After the transfer, the associated wallet was still left with 12,467 BTCs, worth $902 million.
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<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">
</blockquote></div></figure>

Bitcoin Correction Incoming? Bhutan Moves BTC Worth $60M To Binance

YouTube, the video platform Google acquired for $1.65 billion in 2006, has generated $50 billion in combined advertising and subscription revenue over the past four quarters, marking a milestone in its evolution from a user-generated content site to a <a href="https://www.benzinga.com/markets/equities/24/10/41615800/googles-cost-advantage-with-custom-chips-only-nvidia-tops-it-says-analyst">major streaming player</a>.
What Happened: The achievement, announced during Alphabet Inc.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) third-quarter earnings call, reflects YouTube&#8217;s successful expansion into premium services and living room entertainment, competing directly with traditional television and streaming services.
&#8220;Together, YouTube TV, NFL Sunday Ticket and YouTube Music Premium are driving subscription growth for the platform,&#8221; said Sundar Pichai, CEO of Alphabet Inc., Google&#8217;s parent company. &#8220;We are leaning into the living room experience with multi-view and a new option for creators to organize content into episodes and seasons, similar to traditional TV.&#8221;
The platform has secured its position as the leading streaming service in the United States, according to Nielsen data. Philipp Schindler, Google&#8217;s chief business officer, reported that creators optimizing content for television viewing are seeing significant returns, with the number of creators earning the majority of their YouTube revenue from TV screens increasing by more than 30% year-over-year.
Sports content has emerged as a key growth driver. The platform&#8217;s Olympics coverage garnered over 12 billion views, with 850 million unique viewers watching more than 40 billion minutes of content. 
Notably, 35% of Olympic content was viewed on television screens, highlighting YouTube&#8217;s successful transition to larger formats.
See Also: <a href="https://www.benzinga.com/markets/equities/24/10/41615718/cathie-woods-sky-high-vision-dumps-shares-of-cybercab-touting-tesla-for-this-evtol-play">Cathie Wood&#8217;s Sky-High Vision: Dumps Shares Of Cybercab Touting Tesla For This eVTOL Play</a>
Why It Matters: The platform&#8217;s advertising business has also shown strong momentum, with upfront advertising commitments increasing approximately 20% year-over-year, according to Schindler.
These results contributed to Alphabet&#8217;s strong quarterly performance, with the company reporting overall revenue of $88.27 billion, a 15% increase year-over-year, <a href="https://www.benzinga.com/news/earnings/24/10/41611263/alphabet-q3-earnings-highlights-revenue-beat-eps-beat-google-cloud-up-35-momentum-across-the-compan">exceeding Wall Street expectations of $86.31 billion</a>.
Looking ahead, YouTube plans to integrate Google DeepMind&#8216;s video generation model into YouTube Shorts later this year, furthering its investment in artificial intelligence and creator tools.
Price Action: Alphabet Inc Class A shares closed at $169.68 on Tuesday, up 1.78% for the day. In after-hours trading, the stock rose by an additional 5.80%. Alphabet Inc Class C shares ended the day at $171.14, climbing 1.66%. After hours, the stock advanced a further 5.89%. Year to date, Alphabet Class C shares have risen by 22.63%, according to <a href="https://www.benzinga.com/pro/" target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41616040/peter-thiels-founders-fund-leads-500m-fundraise-in-waste-gas-powered-ai-cloud-start-up">Peter Thiel&#8217;s Founders Fund Leads $500M Fundraise In Waste Gas-Powered AI Cloud Start-Up</a></li>
</ul>
Image Via Shutterstock 
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Entertainment

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GOOG

Google Bought YouTube For $1.65B And Now It Prints $50B In Revenue Just In 1 Year — Sundar Pichai Says Alphabet 'Leaning Into The Living Room Experience'

Shytoshi Kusama, the mysterious lead of the Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>) ecosystem, highlighted the coin&#8217;s impressive growth since its launch and the work ahead to gain further recognition.
What Happened: On Tuesday, Kusama took to X to talk about the SHIB&#8217;s lifetime growth, which stood at a staggering 33,774,726.7% from its all-time low, higher than those of Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>), Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>), and Binance Coin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/bnb/usd">BNB</a>).
The pseudonymous personality added that this wasn&#8217;t enough and efforts were in place to further enhance the ecosystem. 
&#8220;So, don&#8217;t ignore Shib. Or do, until you can no longer,&#8221; Kusama said, pointing toward critics.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24SHIB&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SHIB</a> Current Lifetime to Date (from all time low) 33,774,726.7%. But again, I digress. We still have far to go and much work to be done to get the Ecosystem the respect it deserves and Treats out to the pack. So, don&#39;t ignore Shib. Or do, until you can no longer. <a href="https://t.co/ZGyJotYpf2">https://t.co/ZGyJotYpf2</a>
&mdash; Shytoshi Kusama&#x2122; (@ShytoshiKusama) <a href="https://twitter.com/ShytoshiKusama/status/1851413811246293472?ref_src=twsrc%5Etfw">October 30, 2024</a></blockquote>
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</figure>
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41609424/mstr-vs-riot-vs-coin-which-crypto-stock-stands-out-ahead-of-q3-earnings">MSTR Vs. RIOT Vs. COIN: Which Crypto Stock Stands Out Ahead Of Q3 Earnings?</a>
Why It Matters: Kusama&#8217;s post comes in the wake of <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41615810/bitcoin-hovers-around-new-all-time-high-ethereum-dogecoin-surge-as-crypto-market-in-turbo-">a broader cryptocurrency market rally</a> that witnessed Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) come within touching distance of a new all-time high.
SHIB, the second-largest meme coin by market capitalization, has gained 83% this year, exceeding SOL&#8217;s spike of 77% but trailed behind DOGE and BNB, which were up 95% and 92%, respectively. 
The people at the helm of affairs have been making attempts at transforming Shiba Inu into a serious decentralized blockchain project. 
Recently, Shiba Inu announced a partnership with&nbsp;Mass, a financial solutions company, to build the&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41324354/shiba-inu-announces-new-partnership-to-build-the-financial-layer-of-upcoming-shib-state-ke" target="_blank" rel="noreferrer noopener">finance layer of its ambitious &#8220;Shiba State</a>.&#8221;
Price Action:&nbsp;At the time of writing, Shiba Inu was exchanging hands at $0.00001901, up 2,60% in the last 24 hours, according to&nbsp;<a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA.." target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>.
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41608795/remember-the-passports-for-bitcoin-initiative-in-el-salvador-its-not-going-so-well">Remember The &#8216;Passports For Bitcoin&#8217; Initiative In El Salvador? It&#8217;s Not Going So Well</a>
Disclaimer:&nbsp;This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.<a href="https://www.benzinga.com/apis?utm_source=benzinga.com&amp;utm_campaign=article-bottom" rel="noreferrer noopener" target="_blank"></a>

$SHIB

$SOL

Shytoshi Kusama Touts Shiba Inu Lifetime Gains Of 33774726%: 'We Still Have Far To Go And Much Work To Be Done'

Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) CEO Sundar Pichai avoided detailing the company&#8217;s contingency plans if its search partnership with Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) ends.
However, he cautioned that the <a href="https://www.benzinga.com/markets/equities/24/10/41244481/google-cries-foul-as-doj-moves-to-break-up-search-giant-calls-recommendations-radical-as-antitru">Department of Justice&#8217;s proposals</a> could lead to &#8220;unintended consequences.&#8221;
What Happened: During <a href="https://www.benzinga.com/news/earnings/24/10/41611263/alphabet-q3-earnings-highlights-revenue-beat-eps-beat-google-cloud-up-35-momentum-across-the-compan">Alphabet&#8217;s third-quarter earnings</a> call on Tuesday, Barclays analyst Ross Sandler questioned Google's backup plan amid the ongoing DOJ antitrust trial.
He pointed to the risk of Google losing its contract with Apple and some Android pre-install agreements if the trial doesn't go in its favor.
In response, Pichai declined to speculate on the matter due to the ongoing litigation but underscored Alphabet&#8217;s commitment to innovation and making its products easily accessible across all platforms.
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/10/41563594/ai-demand-fuels-record-profits-chip-controversies-and-tech-giants-redefine-ai-landscape-this-week-in?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">AI Demand Fuels Record Profits, Chip Controversies, And Tech Giants Redefine AI Landscape: This Week In The World Of Artificial Intelligence</a>
&#8220;People have chosen us because they view it as the best product, be it consumers or partners. And we have a long track record of working hard to make sure our products are as easily available to users as possible across all platforms,&#8221; he stated.
The CEO also expressed concerns about the DOJ&#8217;s early proposals, stating they could have &#8220;unintended consequences&#8221; for&nbsp;the dynamic tech sector and&nbsp;American leadership in the field.
&#8220;We plan to vigorously defend these cases. And some of the early proposals from the DOJ, et cetera, have been far-reaching,&#8221; Pichai said.
Why It Matters: The U.S. Department of Justice (DOJ) is currently engaged in significant legal actions against Google following a <a href="https://www.benzinga.com/government/24/08/40169996/alphabet-loses-antitrust-suit-over-google-search-dominance-report">ruling that found the tech giant guilty</a> of maintaining an unlawful monopoly in the online search market.
The DOJ is weighing proposals that could break up <a href="https://www.benzinga.com/news/24/09/40758622/doj-probes-googles-ai-strategy-as-it-looks-to-snap-its-monopoly-in-search">Google as an antitrust remedy</a> after a court found the company abused its dominance in search for over a decade, largely through exclusive deals with Apple and Mozilla.
The DOJ is also scrutinizing Google's influence in the growing generative AI market, fearing it may use its search dominance to monopolize this space as well.
In May, during the antitrust lawsuit against Alphabet, it was disclosed that <a href="https://www.benzinga.com/markets/equities/24/05/38573998/how-much-is-google-really-paying-apple-to-be-default-search-engine-on-iphones-unsealed-court-pap">Google paid Apple an astounding $20 billion</a> in 2022 to remain the default search engine on the Safari browser.
Previously, an analyst at Jeffries suggested that Google&#8217;s deal to be the default search engine on Apple iPhones is <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41392474/google-deal-for-default-search-on-apple-iphones-very-likely-to-be-banned-jefferies-">&#8220;very likely&#8221; to be banned</a>.
Meanwhile, Alphabet has reported a 15% year-over-year increase in third-quarter revenue, beating Street consensus estimates.
Price Action:&nbsp;As of this writing, Alphabet&#8217;s Class A shares surged 5.80% in after-hours trading to $179.52, while Class C shares jumped 5.89% to $181.22. During the regular session, Class A shares closed at $169.68, and Class C shares at $171.14, according to<a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener">&nbsp;Benzinga Pro data</a>.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/24/10/41481008/the-guy-who-tracked-elon-musk-taylor-swifts-private-jet-wants-to-know-whos-behind-his-suspended-soci?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">The Guy Who Tracked Elon Musk, Taylor Swift&#8217;s Private Jet Wants To Know &#8216;Who&#8217;s Behind&#8217; His Suspended Social Media Accounts: &#8216;&#8230;Until Someone Threatens You Or Tells You To Do This&#8217;</a></li>
</ul>
Image via Shutterstock
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Legal

AAPL

Sundar Pichai Admits DOJ Proposals Could Have 'Unintended Consequences' — Google Mapping Out Plan B In Case Apple Ends Search Deal?

A recent survey by NuggMD, a cannabis telehealth platform, found that a majority of cannabis users intend to vote for Vice President Kamala Harris in the <a href="https://www.benzinga.com/topic/2024-presidential-election">upcoming election. </a>
According to the poll (<a href="https://www.marijuanamoment.net/majority-of-marijuana-consumers-plan-to-vote-for-kamala-harris-over-donald-trump-despite-both-candidates-backing-legalization-poll-finds/">via </a>Marijuana Moment), 53% of surveyed cannabis consumers said they plan to support Harris, while 40% favor former President Donald Trump. Six percent of respondents reported being undecided.
See Also:<a href="https://www.benzinga.com/markets/cannabis/24/10/41557477/trump-has-an-enemies-list-i-have-a-to-do-list-says-kamala-harris-cannabis-legalization-is-on-it"> &#8216;Trump Has An Enemies List, I Have A To-Do List,&#8217; Says Kamala Harris — Cannabis Legalization Is On It</a>
This poll, conducted from October 24-27 among 623 self-identified cannabis consumers, also provides insight into state-level trends across six key states: California, Missouri, New York, Ohio, Oklahoma and Pennsylvania. In three of these states, Harris holds the lead, two states lean toward Trump, and one remains evenly split among cannabis voters.
Here's the state-by-state breakdown from the NuggMD poll:
California: Harris: 55% &#x7C; Trump: 39%
Missouri: Harris: 49% &#x7C; Trump: 49%
New York: Harris: 61% &#x7C; Trump: 35%
Ohio: Harris: 42% &#x7C; Trump: 58%
Oklahoma: Harris: 37% &#x7C; Trump: 54%
Pennsylvania: Harris: 69% &#x7C; Trump: 31%
The poll also revealed strong bipartisan support among Pennsylvania voters in competitive districts for marijuana legalization, including some backing from traditionally Republican areas. 
Another survey released on Oct.25 by YouGov, suggested that a majority of voters, including many Trump supporters, support the Biden administration's recent push to reschedule marijuana.
<h3 class="wp-block-heading">Cannabis Policy Becomes Central Topic In The US Elections</h3>
As the first U.S. election where both major-party candidates support federal marijuana reform, cannabis policy is a central topic. 
Harris has stated her commitment to marijuana legalization, listing it as a priority on <a href="https://www.benzinga.com/markets/cannabis/24/10/41371428/kamala-harris-marijuana-plan-could-remove-barriers-to-employment-housing-and-education-for-black">her "to-do list" if elected</a>. She recently promised to "break down unjust legal barriers" and make recreational marijuana "the law of the land."
Trump, meanwhile, voiced support for a Florida cannabis legalization ballot measure but faces criticism from the Harris campaign, which has pointed to his previous administration's stance on cannabis. 
His running mate, Senator J.D. Vance (R-OH), advocates for state-level cannabis decisions but also supports stronger enforcement actions, citing concerns about fentanyl-laced cannabis.
NuggMD's survey has a margin of error of +/- 3.9 percentage points. The company's previous polls indicate a strong preference among cannabis users for regulated cannabis markets, with nearly 80% reporting they purchase primarily from licensed retailers.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/cannabis/24/10/41494729/not-eating-gummies-says-kamala-harris-about-how-she-copes-with-election-stress-as-polls-tighten-">&#8216;Not Eating Gummies!&#8217; Says Kamala Harris About How She Copes With Election Stress As Polls Tighten Against Donald Trump</a></li>
</ul>
Image credits: Shutterstock.

Cannabis

Politics

Poll: Most Cannabis Users Back Harris Over Trump, Despite Both Supporting Legalization

Renowned economist Peter Schiff questioned the soaring market capitalization of Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) proxy company MicroStrategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) compared to gold mining companies.
What Happened: In a recent X post, Schiff pointed out that MicroStrategy, despite not earning or producing much, has a market valuation exceeding all gold mining companies except for Newmont Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>), the largest in the sector. 
Schiff even initiated an X poll, asking his followers if MicroStrategy&#8217;s market cap will eventually surpass Newmont&#8217;s. As things turned out, more than 83% voted in favor of such an outcome. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/MicroStrategy?src=hash&amp;ref_src=twsrc%5Etfw">#MicroStrategy</a> earns nothing and practically produces nothing, yet its current market capitalization exceeds that of every <a href="https://twitter.com/hashtag/gold?src=hash&amp;ref_src=twsrc%5Etfw">#gold</a> mining company in the world except for Newmont, which has a market cap roughly 45% higher. Do you think <a href="https://twitter.com/search?q=%24MSTR&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$MSTR</a>&#39;s market cap will surpass <a href="https://twitter.com/search?q=%24NEM&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$NEM</a>&#39;s?
&mdash; Peter Schiff (@PeterSchiff) <a href="https://twitter.com/PeterSchiff/status/1850910060089651484?ref_src=twsrc%5Etfw">October 28, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
As of this writing, MicroStrategy has a market cap of $47.764 billion, narrowly trailing Newmont, which was valued at $54.42 billion. Since the beginning of the year, shares of MicroStrategy have popped an impressive 276.9%, while the gold-mining company has grown by 16.84% year-to-date.
The short-term performance also favors the Bitcoin development company, which jumped 53% over the month compared to Newmont, which fell 10.57% during the same period.
Comparing the technical indicators of the two stocks, all of MicroStrategy&#8217;s moving averages flashed a &#8216;Buy&#8217; signal, while the momentum indicator Moving Average Convergence Divergence, which compares an asset&#8217;s long-term performance versus short-term, was also bullish, <a href="https://in.tradingview.com/symbols/NASDAQ-MSTR/technicals/">according</a> to TradingView. 
On the other hand, Newmont&#8217;s moving averages all <a href="https://in.tradingview.com/symbols/NYSE-NEM/technicals/">indicated </a>a &#8216;Sell&#8217; signal, implying a bearish condition.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41611332/jade-city-launches-mvp-platform-to-revolutionize-50-billion-jade-market-with-blockchain">Jade City Launches MVP Platform To Revolutionize $50 Billion Jade Market With Blockchain</a>
Why It Matters: This wasn&#8217;t the first time Schiff has expressed skepticism towards MicroStrategy. Last week, he <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41478505/peter-schiff-predicts-a-bloodbath-for-microstrategy-stock-calls-it-the-most-overvalued-on-">predicted a crash for the company</a>, terming it the most overvalued stock in the MSCI World Index. &#8220;When it finally crashes, that's gonna be the real bloodbath!" he said. 
Powered by the Bitcoin strategy, MicroStrategy under Michael Saylor has outperformed many top players on Wall Street. With year-to-date gains of 272%, it netted <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41567772/ahead-of-mag-7-earnings-season-michael-saylor-celebrates-bitcoin-proxy-microstrategys-reco">higher returns this year</a> than the &#8220;Magnificent 7&#8221; companies
As of this writing, the company held over $18 billion in Bitcoin on its books,&nbsp;<a href="https://bitcointreasuries.net/" target="_blank" rel="noreferrer noopener">according</a>&nbsp;to bitcointreasuries.net.
Price Action: At the time of writing, Bitcoin was exchanging hands at $72,477.89, up 2.20% 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>. Bitcoin&#8217;s rally boosted shares of MicroStrategy up 1.14% to $258.24 on Tuesday.
Photo Courtesy: Wikimedia Commons
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41608795/remember-the-passports-for-bitcoin-initiative-in-el-salvador-its-not-going-so-well">Remember The &#8216;Passports For Bitcoin&#8217; Initiative In El Salvador? It&#8217;s Not Going So Well</a></li>
</ul>

MSTR

Peter Schiff Asks Followers If MicroStrategy Can Tower This Gold Mining Giant In Marketcap — Here's The Message They Delivered

Crusoe Energy, a data center startup, has secured a $500 million equity investment led by Peter Thiel&#8216;s Founders Fund to expand its artificial intelligence infrastructure.
What Happened: The investment round values Crusoe at approximately $3 billion, more than double its valuation two years ago, <a href="https://www.ft.com/content/dbda689a-d3a7-4441-8dec-93042ca619a9">reported</a> the Financial Times on Tuesday, citing people with knowledge of the deal. 
The company, founded by Chase Lochmiller and Cully Cavness in 2018, is among the fast-growing &#8220;neocloud&#8221; industry that provides outsourced cloud computing for other tech companies to build AI.
The neocloud industry has been attracting significant financial backing from Silicon Valley and Wall Street investors to fund the acquisition of NVIDIA Corp&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) powerful AI chips. Crusoe&#8217;s investment round coincides with its recent $3.4 billion deal with Blue Owl Capital to finance the construction of a new data center in Texas, which will be leased to Oracle Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NYSE">ORCL</a>).
Crusoe Energy supports sustainability by using waste natural gas from oilfields to power its data centers, helping to cut greenhouse gas emissions while fueling AI and cloud computing.
Crusoe Energy did not immediately respond to&nbsp;<a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga</a>'s request for comment.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41590577/bitcoin-breaks-70k-ethereum-and-dogecoin-rise-amid-stock-rally-ahead-of-mag-7-earnings-ana?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin Breaks $70K, Ethereum and Dogecoin Rise Amid Stock Rally Ahead Of &#8216;Mag 7&#8217; Earnings: Analyst Says Current Spike Driven By &#8216;Binance Whales&#8217;</a>
Why It Matters: Thiel, a prominent figure in the tech and investment world, has been actively involved in the cryptocurrency and AI sectors. His Founders Fund has made significant investments in these areas, including a <a href="https://www.benzinga.com/markets/cryptocurrency/24/02/37087400/peter-thiels-founders-fund-bets-big-on-bitcoin-and-ether-with-200m-investment-report">$200 million investment</a> in 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>) in 2023.
Thiel has also been vocal about his skepticism regarding Bitcoin&#8217;s future growth, <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39569413/billionaire-peter-thiel-voices-skepticism-on-bitcoins-future-growth-im-not-sure-its-going-">expressing doubts about significant price growth</a> and expressing regret for not purchasing more of the cryptocurrency.
Despite this, his Founders Fund has continued to make bold moves in the crypto market, <a href="https://www.benzinga.com/markets/cryptocurrency/24/02/37087400/peter-thiels-founders-fund-bets-big-on-bitcoin-and-ether-with-200m-investment-report">signifying a renewed interest in token investments</a> among institutional investors. 
Read Next: 
<a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41566233/elon-musks-doge-flex-pose-sends-dogecoin-first-neiro-on-ethereum-soaring?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk&#8217;s &#8216;Doge-Flex&#8217; Pose Sends Dogecoin, First Neiro On Ethereum Soaring</a>
Image Via Pixabay
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>

Entrepreneurship

Startups

NVDA

ORCL

Peter Thiel's Founders Fund Leads $500M Fundraise In Waste Gas-Powered AI Cloud Start-Up

U.S. stocks saw a mixed performance on Tuesday, with the Nasdaq Composite index surging by over 140 points. The Dow traded down by 0.4% to 42,233.05, while the NASDAQ rose by 0.8% to 18,712.75. The S&amp;P 500 also experienced a gain, rising by 0.2% to 5,832.92.
These are the top stocks that gained the attention of retail traders and investors throughout the day:
Alphabet Inc Class C Shares. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) closed the day with a 1.66% increase, ending at $171.14. The stock hit an intraday high of $171.86 and a low of $168.66. Its 52-week high and low are $193.3 and $123.88 respectively. The company&#8217;s Class A shares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) also ended 1.8% higher at $169.88 for the day. Both Class A and Class C shares rose 5.8% and 5.9% respectively during the after-hours trading.
Alphabet's <a href="https://www.benzinga.com/news/earnings/24/10/41611263/alphabet-q3-earnings-highlights-revenue-beat-eps-beat-google-cloud-up-35-momentum-across-the-compan">third-quarter revenue</a> rose 15% year-over-year to $88.27 billion, exceeding Street estimates. Google Cloud revenue saw a 35% increase, supported by AI-driven growth, while YouTube surpassed $50 billion in ad and subscription revenue for the past four quarters. CEO Sundar Pichai noted momentum and innovation, especially in AI solutions across search and cloud offerings.
Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) saw a 2.62% rise, closing at $593.28. The stock reached an intraday high of $593.67 and a low of $575.4. Its 52-week high and low are $602.95 and $296.86 respectively. A <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41610726/meta-platforms-q3-earnings-preview-ai-in-focus-with-new-search-engine-plans-analyst">new report</a> suggests that Meta Platforms&#8217; plans to build its own search engine could put a greater emphasis on AI growth.
See Also: <a href="https://www.benzinga.com/news/earnings/24/10/41600000/how-to-earn-500-a-month-from-alphabet-stock-ahead-of-q3-earnings?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">How To Earn $500 A Month From Alphabet Stock Ahead Of Q3 Earnings</a>
Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) ended the day with a 1.26% increase, closing at $431.95. The stock hit an intraday high of $433.17 and a low of $425.8. Its 52-week high and low are $468.35 and $331.84 respectively. Microsoft is <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41608886/microsoft-q1-earnings-preview-what-investors-should-watch-in-cloud-ai-azure-on-wedn">expected to highlight</a> its expanding investments in artificial intelligence and growing revenue in the cloud sector in its first-quarter financial results.
Snap Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNAP#NYSE">SNAP</a>) saw a 1.68% rise, closing at $10.89. The stock reached an intraday high of $10.93 and a low of $10.54. Its 52-week high and low are $17.9 and $8.29 respectively. Snap reported a <a href="https://www.benzinga.com/news/earnings/24/10/41612544/snap-q3-earnings-revenue-beat-eps-beat-500m-buyback-ai-update-and-more">15% year-over-year increase</a> in third-quarter revenue, beating the consensus estimate.
Advanced Micro Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) closed the day with a 3.96% increase, ending at $166.25. The stock hit an intraday high of $167.51 and a low of $158.94. Its 52-week high and low are $227.3 and $94.07 respectively. AMD reported a <a href="https://www.benzinga.com/news/earnings/24/10/41612007/amd-q3-earnings-revenue-beat-eps-in-line-data-center-up-122-significant-growth-opportunities-ahead-">18% year-over-year increase</a> in third-quarter revenue, beating analyst estimates.
Image via Shutterstock
Prepare for the day&#8217;s trading <a href="Premarket Movers &amp; News">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>

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During an interview, Interim CEO of&nbsp;Chipotle Mexican Grill (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMG#NYSE">CMG</a>), Scott Boatwright, shared insights into the company&#8217;s third-quarter performance and future strategies.
What Happened: On Tuesday, before Chipotle&#8217;s <a href="https://www.benzinga.com/news/earnings/24/10/41611783/chipotle-q3-earnings-highlights-revenue-miss-eps-beat-store-guidance-update-strong-results-led-by-t">third-quarter earnings</a> call, Boatwright discussed a range of topics during his appearance on CNBC Overtime.
During the conversation, he underscored the company&#8217;s initiatives to enhance service times, which have significantly boosted revenue growth. Boatwright also revealed that Chipotle has been investing in automation and creating new roles.
He talked about the restaurant&#8217;s recruitment drives, especially during the &#8220;Burrito Season&#8221; and back-to-school period and disclosed that a new AI tool has cut the hiring process time by 75%, resulting in a surge in application flow.
See Also:&nbsp;<a href="https://www.benzinga.com/markets/equities/24/10/41590829/ford-amd-trump-media-microstrategy-and-tesla-why-these-5-stocks-are-on-investors-radars-today?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Ford, AMD, Trump Media, Microstrategy, And Tesla: Why These 5 Stocks Are On Investors&#8217; Radars Today</a>
&#8220;We just launched an AI tool that helps us onboard people in our restaurants that shortens the time from applicant to hire by 75% &#8230; we&#8217;re better staffed today than we have been in many, many years,&#8221; he stated.
Boatwright also expressed <a href="https://www.benzinga.com/startups/24/08/40556572/from-chipotle-to-starbucks-brian-niccols-113m-pay-package-and-its-implications-for-the-coffee-chain">confidence in his predecessor</a>, Brian Niccol, who has moved to Starbucks, and assured investors that the company would maintain its focus on the consumer and deliver high-quality culinary experiences.
He also touched on the company&#8217;s technological advancements, including the integration of AI models with their&nbsp;Consumer Data Platform and loyalty&nbsp;program, and mentioned the development of a new produce slicer.
We&#8217;re developing bespoke and unique technologies that are more long-range but we know will add a ton of value in the future,&#8221; the interim CEO said.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">&quot;We just launched an <a href="https://twitter.com/hashtag/AI?src=hash&amp;ref_src=twsrc%5Etfw">#AI</a> tool that helps us onboard people in our restaurants that shortens the time from applicant to hire by 75% &#8230; we&#39;re better staffed today than we have been in many, many years,&quot; says <a href="https://twitter.com/search?q=%24CMG&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$CMG</a> interim CEO Scott Boatwright on labor. <a href="https://t.co/W17DycOctm">pic.twitter.com/W17DycOctm</a>
&mdash; CNBCOvertime (@CNBCOvertime) <a href="https://twitter.com/CNBCOvertime/status/1851362724887822718?ref_src=twsrc%5Etfw">October 29, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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Why It Matters: Chipotle&#8217;s third-quarter results showed a 13% year-over-year increase in revenue, reaching $2.79 billion, although it fell short of the Street consensus estimate of $2.82 billion.
The third-quarter earnings report marked the first since Niccol announced his departure.
In <a href="https://www.benzinga.com/news/earnings/24/07/39943336/chipotle-mexican-grill-q2-earnings-revenue-beat-eps-beat-comps-up-11-on-stronger-demand-trends-and-">the second quarter</a>, Chipotle exceeded expectations by delivering strong revenue and earnings growth. At the time, the company reported $2.97 billion in revenue and adjusted earnings of 34 cents per share.
Meanwhile, regarding the streamlined hiring process, earlier this month, <a href="https://www.benzinga.com/markets/equities/24/10/41460915/chipotle-rolls-out-ai-enhanced-hiring-platform-across-over-3-500-locations-cuts-recruitment-time">Chipotle announced a partnership</a> with Paradox to streamline the hiring process for its restaurant teams.
The AI-powered platform was expected to reduce hiring times for in-restaurant positions by up to 75%, allowing General Managers to focus more on daily operations and guest hospitality.
CMG Price Action: At the time of writing, Chipotle Mexican Grill stocks were down by 5.27% in the after-hours session. The company ended the Tuesday session at $60.49, down 0.18%, <a href="https://pro.benzinga.com/dashboard">according to Benzinga Pro</a>.
Image Courtesy: Chipotle
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Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

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Chipotle Is Using An AI Tool To Slash Hiring Time By 75% During Busy 'Burrito Season'

Gil Luria, Managing Director and Senior Software Analyst at D.A. Davidson highlighted Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) subsidiary Google&#8217;s competitive advantage in the data center sector, emphasizing the company&#8217;s in-house chips, which are second only to NVIDIA Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) in terms of performance.
What Happened: During a discussion on CNBCOvertime, Luria pointed out that Google&#8217;s cloud division has seen its margins improve from 11% to 17%, driven by revenue growth from 29% to 35%. He noted that the true return on investment depends on whether customers can develop valuable products that justify the expansion of data centers.
Alphabet has invested heavily in data center infrastructure and custom in-house chips, a strategy that Luria points out is cost-effective and, importantly, differentiates Google from key competitors. "Their in-house chips are second only to Nvidia, which gives them a big cost advantage," Luria noted
According to Luria, Alphabet's growing emphasis on these custom chips is integral to its overall competitive position in the hyper-scale cloud market, where it currently competes alongside industry leaders Amazon Web Services (AWS) and Microsoft Azure. 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">&quot;The actual ROI depends on their customers. Are their customers going to build valuable products that justify the continued buildout of the <a href="https://twitter.com/hashtag/datacenters?src=hash&amp;ref_src=twsrc%5Etfw">#datacenters</a>?&quot; DA Davidson&#39;s <a href="https://twitter.com/gilluria?ref_src=twsrc%5Etfw">@gilluria</a> on <a href="https://twitter.com/search?q=%24GOOGL&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$GOOGL</a>. &quot;Their in-house chips are second only to <a href="https://twitter.com/search?q=%24NVDA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$NVDA</a> which gives them a big cost advantage.&quot; <a href="https://t.co/zZKy15MzoG">pic.twitter.com/zZKy15MzoG</a>
&mdash; CNBCOvertime (@CNBCOvertime) <a href="https://twitter.com/CNBCOvertime/status/1851365818484846977?ref_src=twsrc%5Etfw">October 29, 2024</a></blockquote>
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Why It Matters: Google&#8217;s recent financial performance underscores its strategic growth. In its <a href="https://www.benzinga.com/news/earnings/24/10/41611263/alphabet-q3-earnings-highlights-revenue-beat-eps-beat-google-cloud-up-35-momentum-across-the-compan">third-quarter earnings</a> report, Alphabet reported a 15% year-over-year revenue increase to $88.27 billion, surpassing expectations. The cloud division&#8217;s 35% growth highlights the momentum within the company.
Meanwhile, Microsoft Corp has accused Google of <a href="https://www.benzinga.com/markets/equities/24/10/41592650/microsoft-accuses-google-of-astroturf-campaigns-targeting-its-cloud-business-says-search-giant-r">orchestrating lobbying campaigns</a> against its cloud business, indicating the competitive tensions in the cloud computing sector. This rivalry underscores the importance of Google&#8217;s advancements in chip technology and cloud services.
Additionally, Google&#8217;s reported Project Jarvis initiative reflects its commitment to <a href="https://www.benzinga.com/markets/equities/24/10/41592044/googles-project-jarvis-and-jeff-bezos-backed-anthropic-are-just-scratching-the-surface-of-agenti">advancing AI-powered web browsing</a> capabilities, further enhancing its technological edge. 
Price Action: Alphabet Inc Class A shares closed at $169.68 on Tuesday, up 1.78% for the day. In after-hours trading, the stock rose by an additional 5.80%. Alphabet Inc Class C shares ended the day at $171.14, climbing 1.66%. After hours, the stock advanced a further 5.89%. Year to date, Alphabet Class C shares have risen by 22.63%, according to <a href="https://www.benzinga.com/pro/">data from Benzinga Pro</a>.
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Image Via Shutterstock 
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Google's Cost Advantage With Custom Chips — Only Nvidia Tops It, Says Analyst

On Tuesday, Cathie Wood&#8217;s Ark Invest made some significant trades, most notably selling shares of Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) and buying a substantial amount of Archer Aviation Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACHR#NYSE">ACHR</a>).
The Tesla Trade
ARK Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKK#NYSE">ARKK</a>) and ARK Next Generation Internet ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKW#NYSE">ARKW</a>) sold 13,896 shares of Tesla, a move that followed a series of transactions carried out by Ark Invest&#8217;s various ETFs on Monday, as reported in a <a href="https://www.benzinga.com/markets/equities/24/10/41590961/cathie-woods-flurry-of-trades-offloads-31-5m-in-tesla-buys-amazon-amd-and-meta-dumps-palantir-tr">Benzinga article</a>. The value of this trade, based on Tesla&#8217;s closing price of $259.52 on Tuesday, is approximately $3.6 million.
Ark Invest's moves follow Tesla's impressive third-quarter earnings, which surpassed expectations with improved margins, along with a strong 2025 vehicle delivery forecast that analysts <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41524419/tesla-q3-an-unexpectedly-good-quarter-10-analysts-on-earnings-margins-fsd-robotaxis">viewed positively.</a>
The Archer Aviation Trade
Archer Aviation, a company at the forefront of the rapidly evolving urban air mobility (UAM) market, saw a significant boost from Ark Invest. ARKK bought a whopping 830,130 shares of Archer Aviation. This investment, calculated from Archer&#8217;s closing price of $3.36 on Tuesday, amounts to about $2.79 million.
The purchase comes at a time when Archer Aviation is <a href="http://ARK Next Generation Internet ETF">making strides</a> in the development of electric vertical takeoff and landing (eVTOL) aircraft. The Federal Aviation Administration (FAA) recently issued a final rule establishing a new category of aircraft called &#8220;powered lift,&#8221; which applies to eVTOL aircraft, marking an important step towards bringing eVTOLS into U.S. airspace.
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<li>Ark Invest&#8217;s ARK Fintech Innovation ETF (ARKF) sold 16,396 shares of Robinhood Markets Inc (HOOD) worth $459,579. Meanwhile, ARKK and ARKW bought a total of 1,642 shares of Meta Platforms Inc. (META) worth $974,165.</li>
<li>ARK Genomic Revolution ETF (ARKG) bought shares of Illumina Inc (ILMN) and sold shares of CareDx Inc (CDNA). ARK Innovation ETF (ARKK) sold shares of Unity Software Inc (U) and bought shares of Natera Inc (NTRA).</li>
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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>

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Cathie Wood's Sky-High Vision: Dumps Shares Of Cybercab Touting Tesla For This eVTOL Play

Vice President Kamala Harris addressed a massive crowd at the White House Ellipse in Washington, D.C., calling for a new political era beyond the reign of former President Donald Trump.
What Happened: On Tuesday, Harris addressed an estimated crowd of 75,000 at the very site where Trump incited the January 6 Capitol riot, condemning his response to the attack and calling him a &#8220;petty tyrant.&#8221; She urged the nation to move beyond the Trump era, <a href="https://thehill.com/homenews/4960670-harris-ellipse-turn-page-trump/">reported</a> The Hill.
&#8220;It is time to turn the page on the drama and the conflict, the fear and division. It is time for a new generation in America, and I am ready to offer that leadership as the next president of the United States of America,&#8221; said Harris.
The Vice President touched on various issues including healthcare, reproductive rights, and the economy. She emphasized the events of January 6, 2021, when Trump supporters stormed the Capitol.
Harris set herself apart from her Republican rival. She said, &#8220;Unlike Donald Trump, I don't believe people who disagree with me are the enemy. He wants to put them in jail. I'll give them a seat at the table.&#8221;
&#8220;Americans died as a result of that attack; 140 law enforcement officers were injured. And while Donald Trump sat in the White House watching, as the violence unfolded on television,&#8221; said the vice president.
Harris outlined her plans for her potential presidency, focusing on combating price gouging and improving housing affordability. She stated, &#8220;I have been honored to serve as Joe Biden's vice president, but I will bring my own experiences and ideas to the Oval Office.&#8221;
See Also: <a href="Scaramucci: Election 'Too Close To Call' But Expects Harris To Win And Trump To Try To Avoid Jail">Scaramucci: Election &#8216;Too Close To Call&#8217; But Expects Harris To Win And Trump To Try To Avoid Jail</a>
Why It Matters: This speech comes at a critical juncture, with recent polls showing a <a href="https://www.benzinga.com/news/24/10/41564594/harris-and-trump-still-neck-and-neck-as-race-enters-final-stretch">tight race </a>between Harris and Trump. The candidates were neck-and-neck, with each leading in different polls.
However, a Reuters/Ipsos poll conducted earlier showed Harris leading Trump by a <a href="https://www.benzinga.com/24/10/41450118/harris-vs-trump-vice-president-edges-out-rival-in-latest-poll-but-voters-favor-ex-presidents-stance">slim margin</a>. The poll revealed that 70% of registered voters felt the cost of living was problematic, and 60% were concerned about the economy.
Despite Harris&#8217;s lead, Trump&#8217;s <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41576378/donald-trumps-election-odds-improve-to-66-after-viral-joe-rogan-podcast-and-controversial-">election odds improved</a> to 66% on the betting markets after a viral Joe Rogan podcast and a controversial Madison Square Garden rally. The rally also led to a <a href="https://www.benzinga.com/government/24/10/41606911/whats-going-on-with-trump-media-technology-stock-on-tuesday">surge in the shares</a> of Trump Media &amp; Technology Group Corp. 
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>

Kamala Harris Urges Change At Ellipse Rally: 'Time To Turn The Page On Drama And Conflict' — Slams Trump For Jan. 6 Riots

Credit card debt is a common financial burden, but billionaire entrepreneur Mark Cuban says it could be the very thing <a href="https://www.benzinga.com/personal-finance/24/10/41258919/dave-ramsey-tells-mark-cuban-75-of-the-worlds-richest-say-do-this-to-build-wealth-listen-to-them">stopping people from building wealth</a>.
Interestingly, Cuban isn't alone in his stance on credit card use. Other financial icons like Warren Buffett and Dave Ramsey have also previously argued that high-interest debt is one of the biggest obstacles to financial success.
What Happened: In a 2014 episode of The Dave Ramsey Show, Cuban joined financial advisor Ramsey to discuss credit cards, debt, and wealth-building strategies.
When asked about his stance on credit card use, Cuban didn't mince words: "If you use a credit card, you don't want to be rich," he said, highlighting that paying down credit card debt is a crucial financial step.
He recommended <a href="https://www.benzinga.com/personal-finance/24/09/40920706/billionaire-mark-cuban-says-his-credit-was-so-bad-radio-shack-denied-him-if-you-use-credit-cards">paying off high-interest debt</a> as the "best place to invest" due to its guaranteed returns.
&#8220;The best place to invest is to pay off all your credit cards and burn them,&#8221;&nbsp;adding, &#8220;If you&#8217;re paying 15% or 20% interest, paying that down is like earning 15% or 20%.&#8221;
Ramsey, renowned for his no-nonsense money management approach and clear-cut financial advice, echoed Cuban's sentiments and pointed out that "75% of wealthy people say get out of debt and stay out of debt."
See Also: <a href="https://www.benzinga.com/real-estate/24/10/41582389/its-not-evil-its-just-math-dave-ramsey-was-called-a-bad-christian-for-raising-rents-and-hes-not-sorr">&#8216;It&#8217;s Not Evil. It&#8217;s Just Math&#8217; – Dave Ramsey Was Called A &#8220;Bad Christian&#8221; for Raising Rents …. And He&#8217;s Not Sorry About It</a>
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
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<iframe loading="lazy" title="Dave Ramsey and Mark Cuban says Get Out of Debt" width="500" height="281" src="https://www.youtube.com/embed/AdHDCCgCx5Y?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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The numbers underscore the scale of the credit card debt issue in the U.S. today.
According to the Federal Reserve Bank of New York, Americans collectively held $1.14 trillion in credit card debt as of the second quarter of 2024—a $27 billion increase from the previous quarter.
The average credit card balance per consumer also rose to $6,329, up from $5,947 the previous year, according to TransUnion.
Why It&#8217;s Important: Cuban and Ramsey are not alone in their disdain for credit card debt. Warren Buffett, the Oracle of Omaha, has also been <a href="https://www.benzinga.com/news/24/05/38628868/warren-buffetts-frugal-lifestyle-hacks-saved-millions-here-are-5-tips-to-follow-suit-in-your-everyda">vocal about his preference</a> for avoiding high-interest debt.
Buffett once advised a friend, "If I owed any money at 18%, the first thing I'd do with any money I had would be to pay it off. It's going to be way better than any investment idea I've got."
However, the Berkshire Hathaway chair isn&#8217;t entirely opposed to using credit cards but warns against carrying a balance, which leads to accumulating interest.
Jay Leno, another financially savvy figure, shares a similar view. The former Tonight Show host and self-made millionaire avoids using credit for purchases, even major ones like a home.
"If I can't afford it, I don't buy it," Leno <a href="https://www.cnbc.com/2018/01/12/mark-cuban-and-jay-leno-avoid-credit-cards.html#:~:text=Billionaire%20Mark%20Cuban%20is%20similarly,Mavericks%20tells%20CNBC%20Make%20It.">told</a> CNBC in 2018, noting that buying on credit would "drive [him] crazy."
Image via Gage Skidmore on Flickr
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Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Mark Cuban Says, 'If You Use A Credit Card, You Don't Want To Be Rich' — Why Financial Icons Warren Buffett And Dave Ramsey Agree

El Nuevo Día, Puerto Rico&#8217;s largest newspaper, has endorsed Kamala Harris for the presidency. This endorsement comes amidst a recent controversy involving <a href="https://www.benzinga.com/news/24/10/41565160/puerto-rico-called-a-floating-island-of-garbage-in-the-middle-of-the-ocean-at-trump-rally-comments-a">derogatory remarks</a> about Puerto Rico made at a Donald Trump rally.
What Happened: El Nuevo Día has thrown its weight behind Kamala Harris for the presidential race. The endorsement follows a contentious incident where comedian Tony Hinchcliffe, a Trump supporter, made derogatory comments about Puerto Rico at a rally in New York, <a href="https://www.politico.com/live-updates/2024/10/29/2024-elections-live-coverage-updates-analysis/puerto-rico-newspaper-endorse-harris-00186156">reported</a> Politico.
The comedian had described the unincorporated U.S. territory as a &#8220;floating island of garbage in the middle of the ocean.&#8221;
The newspaper&#8217;s editor, María Luisa Ferré Rangel, expressed her indignation at the remarks, questioning if they were reflective of Trump and the Republican Party&#8217;s views. The Trump campaign later clarified that the joke did not represent their stance.
&#8220;Is that what Trump and the Republican Party think about Puerto Ricans? Politics is not a joke and hiding behind a comedian is cowardly,&#8221; wrote Rangel.
Rangel admitted that Harris was not perfect but said, &#8220;Her inclusive discourse ensures solid leadership for the world's leading power.&#8221;
See Also: <a href="https://www.benzinga.com/news/24/10/41562899/iranian-hackers-leak-stolen-trump-campaign-emails-ex-gop-strategist-predicts-victory-for-kamala-harr?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Iranian Hackers Leak Stolen Trump Campaign Emails, Ex-GOP Strategist Predicts Victory for Kamala Harris And More: This Week In Politics</a>
Why It Matters: Hinchcliffe&#8217;s comments about Puerto Rico and Latinos at the Trump rally had sparked widespread criticism. The endorsement by El Nuevo Día is a significant development in this context.
The presidential race between Harris and Trump is <a href="https://www.benzinga.com/news/24/10/41564594/harris-and-trump-still-neck-and-neck-as-race-enters-final-stretch">extremely close</a>, with both candidates leading in different polls. This endorsement could potentially influence the Puerto Rican and Latino vote in the election.
El Nuevo Día&#8217;s endorsement also criticized Trump&#8217;s previous actions towards Puerto Rico and praised Harris for her inclusive discourse and promising government program. This is the second time the newspaper has endorsed a presidential candidate, the first being Joe Biden in 2020.
Image via Shutterstock
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<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>
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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>

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