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NWTN Inc is a pioneering smart electric vehicle company which aims to integrate avant-garde design, life-style personalization, IoT connectivity, and autonomous driving technology into a passenger-centric green premium mobility solution to the world.

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<a href="https://www.wsj.com/articles/spirit-airlines-in-talks-with-bondholders-over-terms-of-potential-bankruptcy-filing-fdd23fae?mod=latest_headlines">https://www.wsj.com/articles/spirit-airlines-in-talks-with-bondholders-over-terms-of-potential-bankruptcy-filing-fdd23fae?mod=latest_headlines</a>
<a href="https://www.wsj.com/market-data/quotes/SAVE">Spirit Airlines</a> has been&nbsp;in discussions with bondholders over the terms of a&nbsp;potential bankruptcy filing&nbsp;in the wake of its failed merger with <a href="https://www.wsj.com/market-data/quotes/JBLU">JetBlue Airways</a>, according to people familiar with the matter.&nbsp;
The budget carrier has also been&nbsp;exploring restructuring its&nbsp;balance sheet&nbsp;through an out-of-court transaction, though recent talks have been more focused on reaching an agreement with bondholders and other creditors to support a chapter 11 filing, the people said. The timing of such a filing, should it happen, wouldn't be imminent, they said.&nbsp;

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SAVE

'Spirit Airlines Explores Bankruptcy Filing; The Budget Carrier Has Been Discussing A Possible Restructuring Agreement To Be Implemented In Chapter 11' - WSJ

The recent port strike on the East and Gulf coasts ended following a tentative agreement between dockworkers and port operators, resolving a labor dispute that had threatened to disrupt supply chains. 
According to <a href="https://www.cnn.com/2024/10/03/business/port-strike-union-deal/index.html">CNN</a>, the agreement includes a substantial wage increase and improved working conditions, addressing the International Longshoremen's Association&#8217;s key demands. &#8220;The breakthrough Thursday came after port employers offered a 62% increase in wages over six years, according to people familiar with the matter,&#8221; stated the Wall Street Journal.
The agreement includes a contract extension through Jan. 15 2025. This gives time for the two sides to negotiate other issues, including automation on the docks.
This resolution of the three-day strike averted a prolonged disruption that could have severely<a href="https://www.benzinga.com/news/24/10/41159016/port-strike-enters-day-3-economist-warns-of-meaningful-impact-if-standoff-prolongs-food-beverages-li"> impacted supply chains</a>, particularly ahead of the holiday season. The quick settlement also defused a political risk for the current administration, according <a href="https://www.politico.com/news/2024/10/03/port-strike-ends-defusing-a-political-time-bomb-00182455">to</a> Politico. Dockworkers go back to work on Friday.
Read Next: <a href="https://www.benzinga.com/government/24/10/41172781/oil-prices-rally-biden-confirms-us-discussions-with-israel-about-striking-iran-facilities"> • Oil Prices Rally: Biden Confirms US &#8216;Discussions&#8217; With Israel About Striking Iran Facilities</a> Please check back in to Benzinga as this story updates. 
Photo: Shutterstock

Port Strike Ends, Workers Return To Work Friday

The head-to-head battle between Donald Trump and Vice President Kamala Harris is heating up with nearly one month until the <a href="https://www.benzinga.com/topic/2024-election">2024 presidential election voting day.</a>
A new poll of nationally registered voters shows an extremely tight race.
What Happened: Since becoming the Democratic Party candidate after President Joe Biden stepped down, Harris has helped the party see a boost in election polls <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">and betting odds </a>ahead of the 2024 election.
A new Emerson College poll of nationally registered voters shows a close race and several trends to watch.
Here are the results in the latest <a href="https://emersoncollegepolling.com/october-2024-national-poll-harris-50-trump-48/">poll</a>, which was conducted Sept. 29 to Oct. 1:
<ul>
<li>Kamala Harris: 50%</li>
<li>Donald Trump: 48%</li>
<li>Someone Else: 1%</li>
<li>Undecided: 1%</li>
</ul>
"The margin between the candidates has stayed the same since early September, when Harris held 49% and Trump 47%," Emerson College polling executive director Spencer Kimball said.
Kimball said Harris's small edge is less than Biden's four-point lead in the Emerson national poll at the same point of time in the 2020 election.
The latest poll shows 50% of voters have a favorable view of Harris, while 50% have an unfavorable view of the current vice president.
The poll shows that 49% of voters have a favorable view of Trump, while 51% have an unfavorable view of the former president.
Did You Know?
<ul>
<li>Congress Is Making Huge Investments. <a href="https://www.benzinga.com/gov-trades/?utm_source=BZprocontent100324">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: The latest poll shows a closer race between Harris and Trump than others and Trump with a higher favorability rating, which could be positives for the former president.
Other items likely helping Trump are the facts that the economy (41%) and immigration (17%) are the top two issues from voters. Trump has often gotten better ratings on these items than Harris, who is currently in office.
The poll found that housing affordability (6%), which is a key issue in Harris' campaign, ranked lower than other topics. Potential good news for Harris is the poll found that 53% of voters support the idea of financial assistance to first-time home buyers, while 35% oppose the idea and 12% neither support or oppose.
The Emerson College poll shows a stark difference in voters' age and their preferred candidate. Here are the results by age group for the two candidates, with the remaining percentage going to someone else or undecided as their answers:  
<ul>
<li>18-29: Harris 63%, Trump 36%</li>
<li>30-39: Harris 50%, Trump 48%</li>
<li>40-49: Harris 53%, Trump 43%</li>
<li>50-59: Harris 45%, Trump 53%</li>
<li>60-69: Harris 43%, Trump 56%</li>
<li>70 and Older: Harris 46%, Trump 51%</li>
</ul>
The poll shows that Harris has 50% or more support from three voter groups aged 18 to 49, but sees her support drop as the ages go up from 50 and above.
Outside of this poll, the major concern for Harris is likely her lack of support in several key swing states.
As <a href="https://www.benzinga.com/general/politics/24/10/41155460/harris-in-trouble-vice-president-trails-trump-in-two-key-swing-states-tied-in-state-that-has-vot">Benzinga recently reported,</a> new polls of voters in Pennsylvania, Arizona and North Carolina show Trump leading or tied.
In a poll of Pennsylvania voters, Trump and Harris are tied at 48% each. In a poll&nbsp;of Arizona voters, Trump leads with 50% of the vote with Harris having 47% of the vote. In a poll of North Carolina voters, Trump leads with 49% of the vote with Harris having 48% of the vote.
Arizona, North Carolina and Pennsylvania are three of the key<a href="https://www.benzinga.com/topic/swing-states" target="_blank" rel="noreferrer noopener">&nbsp;seven swing states&nbsp;</a>that could decide the 2024 presidential election and have 11, 16 and 19 electoral college votes, respectively.
With the other four swing states of Georgia, Michigan, Nevada and Wisconsin, the seven states represent 93 electoral college votes.
Biden won many of these swing states, including flipping some from Republican to Democrat from the 2016 to 2020 election to be victorious in the last presidential election. In a close race that many election polls and election forecasters show, the swing states could remain a key element in securing a victory.
Check This Out:
<ul>
<li>Lawmakers Made Huge Investments This Year. <a href="https://www.benzinga.com/gov-trades/?utm_source=BZprocontent100324">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>
Photo: Shutterstock

Politics

Harris Vs. Trump: Vice President Leads 2024 Election Poll — Young Voters Help, But Voter Issues Could Spell Trouble

A three-judge panel in Arizona ruled recently that driving after consuming marijuana cannot be penalized if the driver is not impaired.
The move effectively overruled previous decisions by an administrative law judge whose reasoning was upheld by the Maricopa County Superior Court subsequently, <a href="https://azmirror.com/briefs/marijuana-users-must-be-impaired-to-face-dui-penalties-court-rules/">reported</a> the Arizona Mirror.
<h3 class="wp-block-heading">What Happened</h3>
After being pulled over by a police officer for speeding in October 2022, Aaron Kirsten, who did not want to take a field sobriety test, blew a 0.083 after doing a breathalyzer test – slightly above the state limit.
He was later subjected to a blood test while in custody with results showing blood alcohol content of 0.063, below 0.08 maximum, according to the Department of Public Safety's (DPS) analysis.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/events/cannabis-conference/"><img loading="lazy" decoding="async" width="970" height="250" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/03140451/ccc-oct-24-banner__1_-5.gif" alt="" class="wp-image-579282" /></a></figure>
However, when the DPS tested Kirsten's blood for drugs, the analysis identified tetrahydrocannabinol metabolites &#8211; cannabis &#8211; in the sample which led to the Arizona Department of Transportation (ADOT) suspending his license for 90 days. ADOT justified its decision by referencing a state law that prohibits driving with any detectable THC metabolites.
Read Also: <a href="https://www.benzinga.com/markets/cannabis/23/08/33552760/cannabis-impairment-driving-are-field-sobriety-tests-accurate">Cannabis Impairment &amp; Driving: Are Field Sobriety Tests Accurate?</a>
According to a statement he made at an administrative appeal, Kirsten had not used marijuana in the previous 24 hours leading up to his arrest and that any effects from previous consumption had fully worn off by then.
<ul>
<li>Get Benzinga's exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter <a href="https://newsletteremail.benzinga.com/subscribe" target="_blank" rel="noreferrer noopener">here</a>. If you're serious about the business, you can't afford to miss out.</li>
</ul>
<a href="https://www.ncbi.nlm.nih.gov/pmc/articles/PMC2782342/">Previous research</a> has shown that an inactive metabolite of THC, or delta-9-tetrahydrocannabinol, the intoxicating cannabinoid known for creating euphoric or stoned effects, is stored in body fat and is gradually eliminated through urine and feces, remaining in the body for <a href="https://www.benzinga.com/markets/cannabis/21/09/22696910/how-long-does-marijuana-stay-in-your-system">far longer than active THC.</a>
Moreover, a recently published study by the University of California at Davis found that there's "no direct relationship between impairment and THC concentrations" in the subjects' bodily fluids they analyzed. That's consistent&nbsp;with the opinions of numerous traffic safety groups, including the National Highway Traffic Safety Administration and the American Automobile Association.
"Current methods that focus on THC and/or metabolite concentrations in blood, saliva, urine, or exhaled breath can lead to false-positive results for recent use due to the persistence of THC well outside of the typical 3-4-hour window of potential impairment following cannabis inhalation," <a href="https://www.benzinga.com/markets/cannabis/24/04/38134128/detection-of-cannabis-in-bodily-fluids-not-correlated-with-driving-impairment-new-review-shows">researchers said.</a>
<h3 class="wp-block-heading">Happy Ending In Kirsten's Legal Battle </h3>
The administrative law judge ruled, it was "irrelevant" whether Kirsten had consumed marijuana within 24 hours of his arrest, affirming ADOT's decision. Kirsten then appealed the verdict to the Maricopa County Superior Court.
Finally, the Arizona Court of Appeals ruled in Kirsten's favor, following his appeal, citing voter-established laws that prevent the state from penalizing drivers who have legally consumed marijuana products but are not impaired while driving.
"This reinforces our understanding of the voters' intent, expressed through their enactment of Proposition 207, that unimpaired driving after consuming marijuana cannot be penalized," the judges <a href="https://www.azcourts.gov/Portals/0/OpinionFiles/Div1/2024/No.%201%20CA-CV%2024-0092%20KIRSTEN%20v%20ADOTMVD.pdf">wrote</a>.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/cannabis/23/05/32613624/no-correlation-between-thc-detection-and-driving-performance-found-in-largest-trial-to-date">No Correlation Between THC Detection And Driving Performance Found In Largest Trial To Date</a></li>
</ul>

Cannabis

Regulations

Legal

Drivers Cannot Be Penalized For Cannabis Use If They're Not Impaired, Arizona Court Rules

The International Brotherhood of Teamsters has experienced substantial growth, adding 50,000 new members in just two and a half years, thanks in part by the cannabis industry.
General president Sean M. O'Brien credited the membership growth to workers' increasing dissatisfaction with corporate practices. 
"We're making this International Union bigger, faster, and stronger," O'Brien <a href="https://www.prnewswire.com/news-releases/teamsters-organize-50-000-new-members-in-less-than-three-years-302264475.html">stated</a>. "These organizing numbers show that workers are fighting back against corporate greed and joining the Teamsters in record numbers."
<h3 class="wp-block-heading">Union Success In The Cannabis Industry</h3>
Part of this growth stems from the Teamsters' organizing efforts within the booming cannabis sector. Last year the union achieved a significant presence across the entire <a href="https://www.benzinga.com/markets/cannabis/23/07/33135060/teamsters-now-represents-workers-in-every-component-of-the-cannabis-supply-chain">cannabis supply chain</a>, from cultivation and distribution to retail.
Recently a <a href="https://www.benzinga.com/markets/cannabis/24/05/38797830/84-cannabis-warehouse-workers-and-drivers-in-california-join-teamsters-for-contracts-reflecting-">large group</a> of Nabis warehouse workers and drivers joined the union in California, as did Eaze <a href="https://www.benzinga.com/markets/cannabis/24/03/38003989/eaze-cannabis-delivery-drivers-in-sacramento-join-teamsters-local-150">delivery drivers</a>. Meanwhile, in Illinois,<a href="https://www.benzinga.com/markets/cannabis/24/05/38585820/teamsters-unionize-cannabis-workers-at-another-cresco-labs-dispensary-in-illinois-it-feels-good"> dispensary workers</a> at Cresco Labs (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CRLBF#OTC">CRLBF</a>) and <a href="https://www.benzinga.com/markets/cannabis/23/12/36108184/teamsters-unionization-efforts-in-cannabis-continue-full-steam-ahead-zen-leaf-workers-in-chicago">Zen Leaf</a> unionized as did <a href="https://www.benzinga.com/markets/cannabis/23/09/34312915/cannabis-industry-learns-lesson-as-teamsters-union-flexes-its-muscles">drivers and budtenders</a> at Ascend Cannabis (OTC:<a class="ticker" href="https://www.benzinga.com/stock/AAWH#OTC">AAWH</a>) Provisions in both Michigan and <a href="https://www.benzinga.com/markets/cannabis/24/05/38669949/cannabis-workers-in-l-a-join-teamsters-to-improve-pay-working-conditions-and-have-a-voice">another group</a> in Los Angeles, among other cases.
Beyond this expansion, the Teamsters have also expanded their influence into other non-traditional industries.
"The labor movement is more robust than it's been in generations," said general secretary-treasurer Fred Zuckerman. "The Teamsters are proud to represent more diverse workers in various sectors, including cannabis."
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/06/39557110/fake-cannabis-unions-and-a-legal-battle-over-labor-practices-in-california">Fake Cannabis Unions And A Legal Battle Over Labor Practices In California</a>
<h3 class="wp-block-heading">Cannabis Jobs On The Rise</h3>
The ongoing expansion of cannabis worker unions comes in the context of a legal cannabis industry that has created<a href="https://www.benzinga.com/markets/cannabis/24/04/38183087/cannabis-industry-has-created-nearly-half-a-million-full-time-jobs-new-report-reveals-which-stat"> nearly 500,000 full-time jobs</a> in the U.S., with key states like California and Michigan leading in job growth. 
These positions span cultivation, retail and delivery, with workers increasingly turning to unions to secure fair wages, protections and better working conditions.
<ul>
<li>Read Next: <a href="https://www.benzinga.com/markets/cannabis/24/07/39653122/u-s-jobs-surge-in-june-can-cannabis-keep-up-salaries-might-tempt-you-to-switch-careers">U.S. Jobs Surge In June, Can Cannabis Keep Up? Salaries Might Tempt You To Switch Careers</a></li>
</ul>
Cover: Teamsters media website

Markets

AAWH

CRLBF

Teamsters Added 50,000 New Members In Less Than 3 Years, Partly Due To Cannabis Industry Growth

The Brazilian mining giant Vale SA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VALE#NYSE">VALE</a>) announced its commitment to significantly boost <a href="https://www.benzinga.com/topic/copper">copper</a> production under its new CEO, Gustavo Pimenta.
Pimenta, a former CFO who became CEO after a <a href="https://www.benzinga.com/news/24/08/40597248/vale-selects-cfo-gustavo-pimenta-as-new-ceo-ending-turbulent-succession-process">turbulent succession process</a>, spoke to the media for the first time in his new role. He <a href="https://www.bloomberg.com/news/articles/2024-10-02/vale-backs-brazil-critical-minerals-fund-in-nod-to-government">acknowledged</a> that Vale has "fallen behind on copper " compared to industry peers but plans to close that gap, Bloomberg reported.
This year, Vale expects to produce between 320,000 and 355,000 metric tons of copper — well below the output of its size-related industry peers. Pimenta plans to raise the output of its assets in Brazil, Canada and Indonesia to around 500,000 tons before considering other options.
In addition to growing copper production, Vale focuses on investments in strategic minerals essential for the global energy transition. The firm has been under pressure from the Brazilian government, which pleaded for increased domestic investments.
In collaboration with Brazil's development bank, BNDES, Vale will invest around $184 million in junior and mid-sized companies working on minerals like nickel and cobalt — crucial for electric vehicles and renewable energy technologies.
Despite these ambitions, Vale faces several challenges. As the largest iron ore producer globally, the firm has experienced a slowdown in China's economy, a critical market for that commodity. Additionally, the aftermath of the catastrophic 2015 dam collapse still requires <a href="https://www.benzinga.com/markets/equities/24/01/36799749/brazilian-judge-slams-mining-giants-vale-and-bhp-with-9-67b-charges-over-dam-collapse-report">substantial financial and legal settlements</a>, creating a drain on the firm's resources.
However, Vale's rapidly evolving copper market peers are not sitting idle. Barrick has been ramping production and <a href="https://www.benzinga.com/news/24/09/40851842/barrick-to-complete-feasibility-study-for-lumwana-mine-expansion-start-construction-in-2025">investing $2 billion </a>in expansion at its Lumwana mine in Zambia, which is set to double copper output to 240,000 tons per year by 2028. Barrick is also advancing its Reko Diq project in Pakistan, further boosting its copper and gold production.
Meanwhile, Australian miner BHP has identified copper as a <a href="https://www.benzinga.com/news/large-cap/24/10/41114374/bhp-sees-trend-reversal-in-copper-growth-warns-recycling-wont-be-enough">key growth pillar</a>, anticipating a 70% increase in global demand by 2050. BHP is expanding its copper portfolio, focusing on existing operations and potential new projects like Oak Dam in Australia, addressing aging mines and declining ore grades.
With copper touted as a cornerstone metal for the green tech transition, Vale's new management has a lot of ground to cover before catching up to its competitors which are committed to multi-billion-dollar projects.
Read Next: • <a href="https://www.benzinga.com/government/24/10/41172781/oil-prices-rally-biden-confirms-us-discussions-with-israel-about-striking-iran-facilities">Oil Prices Rally: Biden Confirms US &#8216;Discussions&#8217; With Israel About Striking Iran Facilities</a>
Photo: Shutterstock

Large Cap

Commodities

Global

Trading Ideas

VALE

Vale Plans To Expand Copper Output, Invests $184M For Domestic Critical Minerals

BIC is making headlines again with the launch of the limited-edition &#8220;Hold the Phone&#8221; Case by BIC EZ Reach Lighters.
The company announced its multi-year partners &#8211; Snoop Dogg and Martha Stewart – are an inspiration for the two phone cases matching the celebrity duo&#8217;s iconic signature BIC EZ Reach Lighter designs.
Jeany Mui, marketing director at BIC Flame for Life, said the &#8216;Hold the Phone&#8217; Cases by BIC EZ Reach Lighters celebrate the collaboration with Stewart and Snoop.
&#8220;Building on the success of our previous campaigns and the legendary pair&#8217;s undeniable chemistry, we&#8217;re thrilled to launch another must-have accessory ahead of the holiday season,&#8221; Mui said.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/events/cannabis-conference/"><img loading="lazy" decoding="async" width="970" height="250" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/03165146/ccc-oct-24-banner__1_-7.gif" alt="" class="wp-image-579538" /></a></figure>
BIC previously reintroduced its EZ Reach Lighters&#8217; &#8220;Most Borrowed&#8221; campaign in early 2014, featuring <a href="http://benzinga.com/topic/willie-nelson" target="_blank" rel="noreferrer noopener">Willie Nelson</a>, <a href="http://benzinga.com/topic/Snoop-Dogg" target="_blank" rel="noreferrer noopener">Snoop Dogg</a> and <a href="http://benzinga.com/topic/martha-stewart" target="_blank" rel="noreferrer noopener">Martha Stewart</a>. The campaign has driven remarkable consumer sentiment and a notable increase in <a href="https://www.benzinga.com/markets/cannabis/24/01/36616705/snoop-dogg-willie-nelson-and-martha-stewart-team-up-in-new-bic-lighters-ad-bic-executive-explain">year-over-year sales since its inception.</a>
The illustrious trio teamed up this past April yet again to promote its EZ Reach lighter and to celebrate the 4/20 cannabis holiday.
<ul>
<li>Get Benzinga's exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter <a href="https://newsletteremail.benzinga.com/subscribe" target="_blank" rel="noreferrer noopener">here</a>. If you're serious about the business, you can't afford to miss out.</li>
</ul>
Launched at 4:20 pm on 4/20, the event, titled the "Slow Burn Sessions," featured the trio for 4 hours and 20 minutes of exclusive content on <a href="https://www.youtube.com/@bicbrand">Bic's YouTube channel</a> all weekend, giving viewers a chance to unwind with three mood-setting segments, representing each <a href="https://www.benzinga.com/markets/cannabis/24/04/38346359/snoop-dogg-willie-nelson-and-martha-stewart-light-up-on-420-with-bics-slow-burn-sessions-heres-h">celeb and with its own flare.</a>
Read Also: <a href="https://www.benzinga.com/markets/cannabis/23/04/31911647/exclusive-where-is-snoop-doggs-ez-reach-lighter-bic-lights-up-america-to-find-out-in-a-420-campa">Exclusive: Where Is Snoop Dogg&#8217;s EZ Reach Lighter? BIC Lights Up America To Find Out In A 4/20 Campaign Featuring Willie Nelson And Martha Stewart</a>
Stewart said in the press release she's keeping BIC EZ Reach Lighter designs close. "I keep one of my own BIC EZ Reach Lighter designs in nearly every room of my home, and with the launch of our &#8216;Hold the Phone&#8217; by Case by BIC EZ Reach Lighters, I can easily bring my favorite lighters with me on-the-go."
<h3 class="wp-block-heading">Where To Find The New Accessory?</h3>
As of Friday, Oct. 4, consumers can exclusively head to BIC&#8217;s website to purchase the limited-edition iPhone 15-compatible Martha Stewart or Snoop Dogg-themed &#8220;Hold the Phone&#8221; Cases by BIC EZ Reach Lighters.
Each case &#8211; priced at $49.99 &#8211; includes two BIC EZ Reach Lighters based on the case design selected.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/cannabis/24/07/40047948/snoop-dogg-rolls-out-first-cannabis-coffeeshop-in-amsterdam-its-only-right-that-i-bring-s-w-e-d-">Snoop Dogg Rolls Out First Cannabis Coffeeshop In Amsterdam: &#8216;It&#8217;s Only Right That I Bring S.W.E.D. Global To This Iconic City&#8217;</a></li>
</ul>
<ul>
<li><a href="https://www.benzinga.com/markets/cannabis/23/11/36002268/martha-stewart-and-canopy-growth-launch-new-cbd-gummies-just-in-time-for-the-holidays">Martha Stewart And Canopy Growth Launch New CBD Gummies Just In Time For The Holidays</a></li>
</ul>

Entertainment

Entrepreneurship

Retail Sales

BIC Rolls Out Snoop Dogg And Martha Stewart-Inspired Limited-Edition Accessory, Here's Where To Find It

Social media company Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) has paid out over $2 billion to content creators this year as it works to boost monetization efforts for <a href="https://www.benzinga.com/news/24/04/38085248/instagram-creators-can-now-earn-upto-30k-in-a-month-with-reels-photo-carousels-and-more-as-meta-revi">users of the platform.</a>
Here's a look at what the company has done and what's next.
 What Happened: Meta Platforms&#8217; Facebook began monetization efforts in 2017 because it wanted to compete with other social media platforms and<a href="https://www.benzinga.com/topic/youtube"> video outlets such as YouTube.</a>
The company has paid out $2 billion over the last year with payouts for short-form videos and Reels up 80% year-over-year, as <a href="https://techcrunch.com/2024/10/02/facebook-says-it-paid-content-creators-2b-this-year/">reported </a>by TechCrunch.
Facebook said that more than four million content creators have earned money from the platform since 2017.
While the $2 billion figure is large and could be eye-catching to lure content creators to Facebook, the figure is a fraction of the $70 billion paid out by YouTube to content creators over the last three years as part of its partner program, TechCrunch reported.
Did You Know?
<ul>
<li>Congress Is Making Huge Investments. <a href="https://www.benzinga.com/gov-trades/?utm_source=BZprocontent100324">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>
 What's Next: To help grow its content creation, Meta announced several changes this week.
The company is <a href="https://about.fb.com/news/2024/10/monetize-content-facebooks-new-streamlined-program/">rolling </a>out Facebook Content Monetization, which combines three existing creator monetization efforts (in-stream ads, ads on Reels, Performance bonus) into one platform.
Creators on the new platform can earn from photos, text posts, short videos and longer videos, according to the company.
"We're proud of how our monetization programs have helped creators thrive on Facebook, but we know that the different availability, eligibility requirements and sign-up processes of our various programs have resulted in some creators missing opportunities and other not being eligible to earn from all available formats," the company said.
With the new platform, creators only have to join one platform with several ways to monetize their content.
The company sent out invitations to one million creators as part of the content monetization beta launch. Additional invitations will be sent in the "following months."
Open enrollment for the content monetization platform begins in 2025.
META Price Action: Meta stock closed Monday up 1.74% to $582.77 on Thursday versus a 52-week trading range of $279.40 to $583.36. Meta stock is up 68.3% year-to-date in 2024.
Read Next: 
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<li><a href="https://www.benzinga.com/top-stories/24/10/41150827/exclusive-top-20-most-searched-tickers-on-benzinga-pro-in-september-2024-where-do-tesla-nvidia-apple">EXCLUSIVE: Top 20 Most-Searched Tickers On Benzinga Pro In September 2024 – Where Do Tesla, Nvidia, Apple, DJT Stock Rank?</a></li>
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Photo: Shutterstock

Social Media

Tech

Mark Zuckerberg's Facebook Paid $2B To Content Creators In The Past Year — And It Wants To Pay Out More

Afrimat (OTC:<a class="ticker" href="https://www.benzinga.com/stock/AFTLF#OTC">AFTLF</a>) is known for its operations in lime, iron ore, anthracite and manganese, has made a move into the hemp industry by partnering with legacy brand Hemporium.
Together, they are using hemp-based materials to expand a building in Cape Town. This venture raises questions: is Afrimat betting on the future of South Africa&#8217;s hemp industry, or is it a PR stunt?
The investment comes at a time when South Africa is pushing to grow the sector, having recently issued 1,110 permits for hemp cultivation as part of the government&#8217;s <a href="https://www.benzinga.com/markets/cannabis/24/09/40887359/south-africa-issues-1-110-hemp-licenses-is-the-industry-leaving-small-farmers-behind">master plan</a> under the Cannabis for Private Purposes Bill.
Afrimat's involvement could provide the industry with <a href="https://www.benzinga.com/markets/cannabis/24/07/39824908/south-african-companies-prepare-for-new-cannabis-regulations-experts-expect-lots-of-fundraising-">much-needed capital to scale</a>.
<ul>
<li>Get Benzinga'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&#8217;t afford to miss out if you're serious about the business.</li>
</ul>
<h3 class="wp-block-heading">Afrimat's Green Transition</h3>
Afrimat's collaboration with Hemporium signals the company's interest in sustainability.&nbsp;
Beyond its mining operations, the publicly-traded Afrimat has been working on renewable energy initiatives, recycling mining by-products and rehabilitating mined-out areas through reforestation and water conservation projects, <a href="https://hemptoday.net/what-is-a-mining-conglomerate-like-south-africas-afrimat-doing-in-industrial-hemp/">reported</a> Hemp Today. 
Mining operations for materials like lime, iron ore, anthracite and manganese have significant environmental impacts. Iron ore mining, for example, can <a href="https://link.springer.com/article/10.1007/s11270-024-07048-x">contaminate water sources </a>through increased sediment levels and metal runoff, while the removal of vegetation for mining operations drastically reduces biodiversity. <a href="https://link.springer.com/chapter/10.1007/978-3-030-38152-3_8">Limestone mining </a>similarly contributes to environmental degradation by altering land-use patterns and causing dust and noise pollution, which can harm local ecosystems and communities. 
Read Also:&nbsp;<a href="https://www.benzinga.com/general/biotech/24/07/39894649/the-wall-that-can-withstand-1700-f-and-cut-10b-in-losses-fire-resistant-hempcrete-now-certified">The Wall That Can Withstand 1700°F And Cut $10B In Losses: Fire-Resistant Hempcrete Now Certified</a>
<h3 class="wp-block-heading">Hemp Town</h3>
The hemp-lime block technology used in Cape Town, combined with specialized binders, promises to offer a sustainable alternative in the construction industry.&nbsp;
Hemporium and <a href="https://www.afrimathemp.co.za/">Afrimat Hemp</a>, a subsidiary of Afrimat, are nearing the completion of a seven-story expansion on an existing five-story building. The new structure, built with 28 cm-thick hemp blocks, will bring the building's total height to 12 stories.&nbsp;
The space will house Hemporium's flagship retail outlet, where they will sell<a href="https://www.benzinga.com/topic/hemp"> hemp-derived</a> clothing, skincare and CBD products, along with a steak restaurant and 50 hotel rooms.
The walls are built with <a href="https://www.benzinga.com/general/biotech/24/02/37271000/u-s-army-invests-1-9m-to-develop-hemp-manufactured-buildings-for-military-operations">hempcrete blocks</a>, made by Afrimat Hemp from European hemp hurd and locally sourced lime, capable of withstanding fire for 135 minutes.
The building also features solar panels, smart metering, a borehole with filtration for backup water and a thermally activated building system (TABS) to regulate temperature without mechanical heating or cooling.
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/09/40756333/gov-newsom-proposes-emergency-rules-to-severely-restrict-hemp-products-this-will-destroy-our-bus">Gov. Newsom&#8217;s Total Ban On Hemp THC Could Crush California&#8217;s Billion-Dollar Industry, Say Stakeholders (UPDATED)</a>
<h3 class="wp-block-heading">How Is Concrete Made Out Of Hemp? </h3>
Hempcrete, a <a href="https://www.benzinga.com/markets/cannabis/24/07/40027836/hempcrete-project-gets-6-2m-epa-grant-to-develop-eco-friendly-construction-materials">sustainable building material</a>, begins with harvesting the stalks of the hemp plant. Once harvested, the stalks are left on the ground for 10 to 14 days to degrade the outer fibers. This microbial breakdown helps release the inner woody core, known as the hemp hurd, which is the essential construction material.
After this process, the <a href="https://www.benzinga.com/topic/hemp">hemp</a> stalks are collected, crushed and sorted to separate the fiber from the hurd. The hurd, chopped into small particles (typically around 1 inch), is cleaned to remove dust, ensuring the quality of the material.
The next step involves mixing the processed hemp hurd with lime and water. The typical ratio is three parts hemp, one part lime, and one part water, although these proportions can vary depending on the humidity and specific requirements of the project. This mixture is then used to create blocks or panels for construction.
In some cases, the mixture is poured into molds to make bricks, which are compacted and allowed to air dry or placed in an oven. Alternatively, for larger structures, the mixture can be poured directly into formwork to create whole walls, reducing the need for individual brick assembly.
Hempcrete is known for being lightweight &#8211; 50% lighter than traditional concrete &#8211; and ten times more insulating, offering an eco-friendly and flexible building solution. 
Read Next:&nbsp;<a href="https://www.benzinga.com/markets/cannabis/22/02/25762696/is-hempcrete-the-new-green-construction-material-it-could-soon-be-approved-as-just-that">Is Hempcrete The New Green Construction Material? It Could Soon Be Approved As Just That</a>

Biotech

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General

AFTLF

Publicly Traded South African Mining Co. Invests In Fire-Resistant Hemp Buildings - New Industry Or PR Stunt?

The upfront cash payment brings non-dilutive capital to Editas Medicine, helping enable further pipeline development and related strategic priorities.
Under the terms of the agreement, Editas Medicine will receive an upfront cash payment of&nbsp;$57 million&nbsp;in exchange for up to&nbsp;100%&nbsp;of certain future annual license fees payable to Editas Medicine, ranging from&nbsp;$5 million&nbsp;to&nbsp;$40 million&nbsp;per year (inclusive of certain sales-based annual license fees that may become due) and a mid-double-digit percentage of Editas Medicine&#39;s portion of a&nbsp;$50 million&nbsp;contingent upfront payment for which Editas Medicine is eligible under the Vertex license agreement.
In addition to a portion of any such contingent upfront payment, Editas Medicine retains rights to fixed annual license fees for 2024 and a mid-single-digit million-dollar payment due to Editas Medicine in the event of Vertex&#39;s achievement of certain annual sales milestones.

Asset Sales

EDIT

Editas Medicine Reports Sale Of Certain Future License Fees, Other Payments Owed Under Cas9 License Agreement With Vertex To DRI Healthcare Trust Subsidiary For Upfront Cash Payment Of $57M

LGIH

LGI Homes Says It Closed 579 Homes In September, Up 7.2% Y/Y, Resulting In Total Of 1,757 Homes Closed During Q3

The deal includes an exclusive license to manufacture, upgrade, and repair the product line. The agreement also grants IS&amp;S exclusive intellectual property rights and includes the transfer of existing inventory necessary for continued manufacturing and support of the products.
This acquisition significantly expands IS&amp;S&#39;s capabilities and enhances its presence within the military aviation sector. Following a transition period, IS&amp;S, will be responsible for the activities formerly performed by Honeywell.

ISSC

Innovative Solutions & Support Buys License For Various Generations Of Military Display Generators And Flight Control Computers From Honeywell; No Terms Disclosed

For the three months ended September 30, 2024, the Company had an average of 107 drilling rigs operating in the United States.

PTEN

Patterson-UTI Reports Average Of 107 Drilling Rigs Operating In US For September

Despite achieving <a href="https://www.benzinga.com/markets/cannabis/24/04/38076225/another-record-breaking-month-for-new-mexicos-cannabis-industry-heres-how-much-retailers-garnere">over $1 billion in sales</a> since the legalization of recreational cannabis 29 months ago, New Mexico&#8217;s cannabis industry is grappling with severe regulatory challenges. A year-long <a href="https://www.krqe.com/news/larry-barker/the-new-mexico-cannabis-cowboys-modern-day-desperados/">investigation</a> by KRQE&#8217;s Larry Baker has uncovered serious regulatory issues in <a href="https://www.benzinga.com/topic/new-mexico-cannabis">New Mexico's cannabis industry</a>, which has attracted lawbreakers and crime networks.&nbsp;
<h2 class="wp-block-heading">Lack Of Regulatory Oversight</h2>
According to the report, the Cannabis Control Division (CCD) is under-resourced, with only nine inspectors overseeing 3,000 licensed cannabis businesses. This understaffing has led to a situation where many operations go uninspected, allowing criminal enterprises, some linked to international criminal networks in Mexico and <a href="https://www.benzinga.com/markets/cannabis/24/06/39559399/new-mexicos-dark-discovery-chinese-workers-trapped-on-illegal-cannabis-farms">China</a>, to thrive without scrutiny. This loophole could be the result of the state&#8217;s licensing process.
In a podcast <a href="https://www.krqe.com/podcasts/the-growing-black-market-inside-new-mexicos-cannabis-industry/">interview</a> with KRQE, Duke Rodriguez, CEO of Ultra Health, New Mexico's largest cannabis operator, highlighted the gravity of the situation, revealing that two-thirds of the state's cannabis activity remains illicit. He criticized the state&#8217;s licensing system, describing it as an ineffective &#8220;honor system,&#8221; where applicants are granted licenses with the assumption they won&#8217;t violate regulations.
Rodriguez explained that inspections occur only after the license is issued and the business is already operational. The state can only intervene if irregularities are found during these inspections. "You won't see that anywhere else in the country," added Larry Barker, noting that enforcement delays often mean businesses can operate for 12 to 18 months without proper oversight.
<h3 class="wp-block-heading">Change In The State&#8217;s Regulatory Approach</h3>
Rodriguez also pointed out that under the old <a href="https://www.benzinga.com/markets/cannabis/22/04/26481542/new-mexico-legal-cannabis-program-up-and-running-raking-in-millions">medical cannabis program</a>, such infractions would have led to immediate license suspension or revocation. However, since <a href="https://www.benzinga.com/markets/cannabis/21/04/20589377/adult-use-cannabis-is-now-legal-in-new-mexico-gov-signs-legalization-expungement-bills">recreational cannabis legalization</a>, the lack of enforcement has allowed illegal operations to flourish unchecked. &#8220;The lack of enforcement is hurting the state&#8217;s economy,&#8221; he said, adding that the regulated market struggles to compete with its illicit counterpart.
"The state simply took its hands off the steering wheel … just issue a license to anyone who marked the boxes. And that's what they did," Rodriguez said. He added that while Governor Michelle Lujan Grisham celebrated the state surpassing $1 billion in legal cannabis sales in March 2024, most of the sales figures were tied to political optics rather than a reflection of a healthy market.The CCD's limited ability to collect fines or shut down rogue operations further complicates the situation.
<h3 class="wp-block-heading">Systemic Lack Of Enforcement</h3>
Barker's investigation found that only about 10% of cannabis businesses consistently comply with reporting regulations. Even when the CCD takes action, it struggles to enforce penalties. Barker cited one <a href="https://www.benzinga.com/markets/cannabis/24/01/36473694/new-mexico-clamps-down-2m-fines-for-cannabis-farm-violations">cannabis farm fined $1 million</a> for rule violations, but it remains unpaid and the farm is still operational. "They have the authority to issue fines but not to collect them," Barker explained, highlighting the regulatory division's limited power.
Rodriguez echoed these concerns, saying that the state's lack of enforcement has fostered a rampant illicit market. "We're just creating this overly illegal, illicit black market," he said, noting that the number of rogue operations likely extends beyond what has been uncovered.
Cover image made with AI

New Mexico's Cannabis Industry Struggles Against Criminal Exploitation And Regulatory Failures

Bristol Myers Squibb Says FDA Approved Perioperative Treatment Of Neoadjuvant Opdivo (Nivolumab) And Chemotherapy Followed By Surgery And Adjuvant Single-Agent Opdivo For Resectable Non-Small Cell Lung Cancer

Vistra Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VST#NYSE">VST</a>) and Constellation Energy Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CEG#NASDAQ">CEG</a>) shares traded higher Thursday after RBC Capital raised price targets on both stocks amid growing demand for energy to power data centers and<a href="https://www.benzinga.com/news/24/09/41032700/whats-going-on-with-vistra-stock"> other AI infrastructure. </a>
The Details: Energy stocks continue to climb as demand for electricity to power data centers and other AI applications soars. 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 told Nikkei in <a href="https://asia.nikkei.com/Editor-s-Picks/Interview/Google-considers-sourcing-from-nuclear-power-plants-says-CEO-Pichai">an interview </a>on Thursday that Google is considering powering its data centers with nuclear power plants. 
Constellation Energy already signed a 20-year nuclear power<a href="https://www.benzinga.com/markets/equities/24/09/40957437/microsoft-taps-constellation-for-20-year-carbon-free-power-3-400-jobs-coming-to-pennsylvania"> purchase agreement</a> with Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) to deliver clean energy to its AI infrastructure. The comments from Google's CEO suggest other AI hyper-scalers may follow the same path. 
Read Next: <a href="https://www.benzinga.com/news/24/10/41152629/what-happened-with-accenture-stock-today">What Happened With Accenture Stock Today?</a>
RBC Capital analyst Shelby Tucker maintained Vistra with an Outperform and raised the price target on the stock from $105 to $141. The RBC analyst also maintained a Sector Perform rating on Constellation Energy and raised its price target from $214 to $272 on Thursday.
Vistra was the best performer in the S&amp;P 500 Index on Thursday and remains the best performer in the S&amp;P 500 year-to-date. According to data from <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, Vistra has jumped 243% in 2024 and Constellation Energy is up 137% year-to-date.&nbsp;
VST, CEG Price Action: According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, Vistra shares ended Thursday's session up 5.65% at $132.45 and Constellation Energy shares closed up 4.52% at $277.37.
Read Also:
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</ul>
Photo: Shutterstock

Analyst Color

Analyst Ratings

Movers

GOOG

GOOGL

MSFT

What Happened With Vistra, Constellation Energy Stocks Today?

Cannabis consumption provides medicinal benefits, even when deemed recreational. Whether for pain, stress, anxiety or sleep, consumers' motivations often overlap across both categories.
Recent research from<a href="https://newfrontierdata.com/"> New Frontier Data </a>looks at how these motivations blur traditional distinctions between medical and recreational marijuana use, challenging perceptions about their differences.
As the cannabis industry grows, this overlap becomes even more significant. Investors who understand these shifting behaviors and evolving legal frameworks in each state will be best positioned to capitalize on the next wave of growth opportunities.
<ul>
<li>Get Benzinga'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&#8217;t afford to miss out if you're serious about the business.</li>
</ul>
<h3 class="wp-block-heading">New Frontiers For Cannabis&nbsp;</h3>
The study surveyed 3,868 U.S. cannabis consumers, asking them to classify their use as medical, recreational, or both. It analyzed consumption patterns, demographics, and spending habits, offering key insights into what drives different types of users.&nbsp;
This data sheds light on consumer behavior and its impact on market trends.
States like <a href="https://www.benzinga.com/topic/ohio-cannabis">Ohio</a> have already transitioned to recreational cannabis, while <a href="https://www.benzinga.com/topic/florida-cannabis">Florida</a>, is poised for legalization in 2024 if a ballot initiative is approved. <a href="https://www.benzinga.com/topic/arkansas-cannabis">Arkansas</a>, <a href="https://www.benzinga.com/topic/nebraska-cannabis">Nebraska</a>, <a href="https://www.benzinga.com/topic/south-dakota-cannabis">South Dakota</a>, and <a href="https://www.benzinga.com/markets/cannabis/24/07/39602457/majority-of-north-dakotans-are-against-legal-weed-new-poll-finds">North Dakota</a> are also advancing ballot initiatives. <a href="https://www.benzinga.com/topic/pennsylvania-cannabis">Pennsylvania</a> and <a href="https://www.benzinga.com/topic/wisconsin-cannabis">Wisconsin</a> are pushing forward despite political challenges.
<h3 class="wp-block-heading">Gender Differences And Consumer Behavior</h3>
According to the survey, women make up 46% of the cannabis consumer base and are more likely than men to use cannabis solely for medical purposes. However, both genders report similar rates of recreational use. 
Additionally, home growers, though representing a minority at 54% of non-growers, are significantly more likely to use cannabis for both medical and recreational purposes​. 
"Market type is significantly correlated with <a href="https://www.benzinga.com/markets/cannabis/24/05/38972587/who-is-buying-marijuana-and-why-market-data-provides-behavior-profiles-insights-for-investors">self-identified consumer type</a>. It is interesting to note that, even in medical-only markets, 27% of consumers consider themselves recreational only," reads the report.&nbsp;
<h3 class="wp-block-heading">Who Spends The Most? </h3>
Medical-only consumers exhibit higher<a href="https://www.benzinga.com/markets/cannabis/24/06/39540101/budget-conscious-consumers-boost-sales-of-marijuana-multipacks-94-brands-vie-for-colorados-pre-r"> spending habits</a>, with many spending over $400 per purchase. By contrast, recreational consumers typically spend under $50, with some even obtaining cannabis for free. This discrepancy highlights the deeper financial commitment of those using cannabis for medical reasons, often tied to long-term therapeutic needs.
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/08/40533363/how-seo-trauma-is-costing-weed-brands-70-of-sales-and-why-most-dispensaries-fail-jp-donahue-unle">How SEO Trauma Is Costing Weed Brands 70% Of Sales —And Why Most Dispensaries Fail: JP Donahue Unleashed</a>
<h3 class="wp-block-heading">How Often?&nbsp;</h3>
Those who use cannabis for both medical and recreational purposes consume more frequently, often <a href="https://www.benzinga.com/markets/cannabis/24/02/37221610/how-many-joints-a-day-are-safe-researchers-identify-methods-for-weed-consumption-within-healthy-">multiple times per day</a>, while recreational-only users tend to consume the least. The report found that medical users are far more likely to report positive impacts on their lives from cannabis use, whereas recreational users often cite a mixed effect.
<h3 class="wp-block-heading">Market Loyalty</h3>
Medical users also show greater loyalty to specific businesses, purchasing from the same source for product consistency and reliability. In contrast, recreational users are less likely to stick with one store, leaning toward more varied buying habits. 
This difference underscores the need for reliable, consistent products in medical marijuana markets.
&#8220;Medical-only consumers were the most likely to say that they always source their <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/03/37666783/marijuana-shoppers-favorite-strains-2024">cannabis from the same business</a>, while recreational-only consumers were the most likely to say they buy from different stores. This reflects the need of medical consumers to have consistent access to the same products,&#8221; reads the report.
Read Next: <a href="https://www.benzinga.com/markets/cannabis/24/10/41154738/ohio-cannabis-market-soars-to-76m-in-less-than-2-months-but-michigan-remains-the-leader">Ohio Cannabis Market Soars To $76M In Less Than 2 Months But Michigan Remains The Leader</a>

Guidance

Management

What's The Difference Between Medical And Recreational Cannabis Users? New Survey Reveals Market Trends

Vizimax is a provider of innovative solutions to measure, control and switch high- and medium-voltage electric power systems.
Headquartered in Longueuil, Quebec, Vizimax is led by President Jean-Guy Lacombe and was previously owned by a group of investors led by BDC Capital and Yaletown Ventures.
&nbsp;

Blackstone Portfolio Company Power Grid Components Acquires Vizimax; No Terms Disclosed

IonQ Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IONQ#NYSE">IONQ</a>) shares are bouncing around in Thursday&#8217;s after-hours session after the company announced it reached a significant milestone in developing networked <a href="https://www.benzinga.com/pressreleases/24/10/b41173403/ionq-demonstrates-remote-ion-ion-entanglement-a-significant-milestone-in-developing-networked-quan">quantum systems at scale</a>.
What Happened: After the market close on Thursday, IonQ said it successfully demonstrated remote ion-ion entanglement, crossing off another milestone of its scaling strategy.
IonQ announced it achieved ion-photon entanglement in February. The remote ion-ion entanglement marks the second of four significant milestones required to develop photonic interconnects and take a foundational step towards quantum networking.
&#8220;IonQ&#8217;s north star remains scalability at high performance, and the progress we&#8217;ve made towards photonic interconnects ensures our customers will have access to large quantum systems capable of tackling the most complex problems,&#8221; said Peter Chapman, president and CEO of IonQ.
&#8220;We&#8217;re consistently making significant headway on our technical roadmap, and customers across academia and business recognize the unique value IonQ&#8217;s systems bring as we near the point of commercial quantum advantage.&#8221;
Check This Out: <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/41037763/kamala-harris-strengthens-crypto-stance-the-us-will-remain-dominant-in-ai-and-quantum-comp">Kamala Harris Strengthens Crypto Stance: The US Will &#8216;Remain Dominant In AI And Quantum Computing, Blockchain, And Other Emerging Technologies&#8217;</a>
The news comes less than a week after the company <a href="https://www.benzinga.com/markets/equities/24/09/41071006/why-is-ionq-stock-trading-higher-on-friday">announced</a> that it signed a $54.5 million contract with the U.S. Air Force Research Lab and said it remains on track to nearly double its revenue for the third year in a row. IonQ shares are up about 15% since the announcement. 
IonQ is scheduled to <a href="https://x.com/IonQ_Inc/status/1840843273352679778">host a session</a> with data software company Evidentli on Oct. 11. The session will focus on the transformational potential quantum computing offers to the pharmaceutical industry. 
According to the <a href="https://www.eventbrite.com.au/e/generative-ai-20-for-data-harmonisation-and-federated-analytics-tickets-1026755763127">event listing</a>, presenters will talk about how new generative AI approaches can transform real-world data 250 times faster than current methods.
IONQ Price Action: <a href="http://benzinga.com/quote/ionq">IonQ shares</a> closed Thursday up 0.54%. The stock was up another 0.54% in after-hours, trading at $9.30 at the time of publication, according to <a href="http://pro.benzinga.com">Benzinga Pro</a>.
Photo: Courtesy of IonQ.

After-Hours Center

IONQ

What's Going On With IonQ Stock Thursday?

Retail industry veteran Seth Golden recently warned that, according to a widely used oscillator Williams %R, the <a href="https://www.benzinga.com/topic/s-p-500">S&amp;P 500</a> has been overbought for an entire year.
Golden, a hedge fund consultant who previously worked for household names such as Target and now-defunct Bed Bath &amp; Beyond, pointed out that this is just the 23rd time in history that this has occurred.
Based on historical data he shared in a post on <a href="https://x.com/SethCL/status/1841808020705075700">X</a>, he pointed out that when this happened, it continued the same trend for the rest of the year — posting a fourth-quarter median return of 5.29%.
<a href="https://www.benzinga.com/11/04/1035270/pros-and-cons-of-williams-r-indicator">Williams %R</a>, often dubbed the Williams percent range, is a momentum indicator. It measures the overbought and oversold levels on a scale from 0 to 100. A reading above -20 is overbought and a reading below -80 is oversold.
Golden used a 28-month parameter, an industry standard for this indicator.
See Also: <a href="https://www.benzinga.com/general/travel/24/10/41172625/will-airlines-soar-or-stall-what-insider-trades-say-about-airline-industrys-future">Will Airlines Soar Or Stall? What Insider Trades Say About Industry&#8217;s Future</a>
Looking deeper into the list of overbought stocks brings an interesting mix of domestic and foreign catalysts.
Lockheed Martin's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>) presence on this list is unsurprising. The leading aerospace and defense manufacturer&#8217;s stock hit a fresh all-time high, reaching $609 and giving it a market cap of over $144B. The firm benefits from increased defense spending during <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">escalating global conflicts</a> and with a <a href="https://www.benzinga.com/news/earnings/24/10/41164528/lockheed-wins-2-1b-contract-to-aid-trident-ii-d5-missile-program">new multi-billion U.S. Navy contract</a> it landed last Thursday. Despite a hefty $19.26B debt, the firm has the balance sheet to easily manage it, plus pay a reliable 2.1% dividend. Its Williams %R overbought score is currently -11.41.
Next on the list is Lowe's Companies Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LOW#NYSE">LOW</a>), a North Carolina-based retailer specializing in home improvement. It recently hit a new all-time high of $274.16. Along with other home improvement stocks, Lowe <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/41008424/lowes-set-for-delayed-benefits-from-macro-demand-improvements-says-optimistic-analy">experienced a surge</a> following the FED's rate cut. Still, this strong performance is surprising, given the firm's revenue decline of nearly 10% year over year and dimmed future growth projections. Its Williams %R overbought score is currently -5.71.
Entergy Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ETR#NYSE">ETR</a>) has been a utility industry standout, delivering an almost 30% return year-to-date. Despite such numbers, the stock trades at a reasonable P/E ratio of 15.9x, below some of its peers like Exelon or FirstEnergy.
Entergy provides electric power to the southern U.S. states, benefiting from rapid energy growth in states such as Texas. Investors expect the company to scale with its target market, with a booming population and increased industrial activity prompting higher energy consumption. The stock's Williams %R overbought score currently stands at -7.41.
Read Next: <a href="https://www.benzinga.com/government/24/10/41172781/oil-prices-rally-biden-confirms-us-discussions-with-israel-about-striking-iran-facilities"> •&nbsp;Oil Prices Rally: Biden Confirms US &#8216;Discussions&#8217; With Israel About Striking Iran Facilities</a>
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Equities

Why S&P 500's Year-Long Overbought Signal Has This Expert Talking, Plus 3 Stocks To Watch

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
In navigating the tumultuous electric vehicle (EV) market, consider <a href="https://investorplace.com/industries/consumer-discretionary/automotive/electric-vehicles/">EV stocks</a> to sell in April. 2023 was a challenging year for the EV sector, plagued by waning demand, reduced government incentives and a complicated macro-environment. Though the potential for long-term growth remains for a few, the gloomy short-term outlook suggests a strategic portfolio adjustment might be more prudent. Moreover, with the shift from optimistic growth projections to a more grounded reality, 2024 could be another unattractive year. 



In this regard, offloading certain EV stocks could shield you from the adverse impacts of the market&rsquo;s current state. Having said that, let us look at three EV stocks ripe for selling.



<h2>Fisker (FSR)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2023/04/fsr1600-300x169.png" alt="Fisker's (FSR) new Ocean electric vehicle is displayed at the 2021 LA Auto Show."><div>Source: Ringo Chiu / Shutterstock.com</div></div>Fisker&nbsp;(NYSE:<a href="https://investorplace.com/stock-quotes/fsr-stock-quote/">FSR</a>) was once celebrated as a top EV contender but now finds itself skidding into troubled waters. Operational chaos and financial missteps led to almost the entirety of its market cap being wiped out last year. It now trades for just 9 cents on the OTC market, with bankruptcy looming within the next few quarters.



During 2023, the company delivered just 4,929 of its flagship Ocean EVs <a href="https://investors.fiskerinc.com/news/news-details/2024/Fisker-Inc.-Announces-Preliminary-Q4-and-Full-Year-2023-Results/default.aspx">out of the total 10,193 it produced</a> it produced. Moreover, in its fourth-quarter (Q4) earnings call, it expressed doubts over its ability to continue as a going concern. Therefore, the firm is clearly in survival mode and slashed between 34% and 39% for its Ocean models to clear out its inventory.



Furthermore, <a href="https://techcrunch.com/2024/03/27/fisker-misplaced-payments-internal-audit-bankruptcy/">a recent scathing TechCrunch</a> alleged that the company mismanaged and temporarily misplaced millions in customer funds. Needless to say, that&rsquo;s a lot for its investors to digest, whoever is left anyway.



<h2>NWTN (NWTN)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2023/05/red-electric-vehicle-charging-ev-stocks-closeup-1600-300x169.jpg" alt="Closeup photo of red electric vehicle being charged with blue and black charger plugged into charging port. undervalued EV stocks. Top-Rated EV Charging stocks"><div>Source: shutterstock.com/Dmytro_Yushchenko</div></div>NWTN&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/nwtn-stock-quote/" target="_blank">NWTN</a>) is another fledgling EV startup that burst into the public markets in late 2022 through a SPAC merger with&nbsp;East Stone Acquisition.&nbsp;



To be fair, yje United Arab Emirates-based EV firm seemed promising, blending state-of-the-art design, self-driving capabilities and IoT technology. Moreover, its stock held up around $10 before experiencing a significant downturn, underscoring its struggles in kick-starting operations and securing its position in the fiercely competitive EV arena.



Furthermore, its most recent quarterly report paints a stark financial picture. It had modest sales of $0.6 million and negative earnings per share (EPS) of 24 cents. Moreover, <a href="https://seekingalpha.com/news/4052553-nwtn-gaap-eps-of--024-revenue-of-06m">with just $73.5 million</a> in cash as of June last year, NWTN&rsquo;s financial positioning is precarious. With NWTN navigating these turbulent waters, investors are left weighing the risks of betting on a lackluster startup struggling to demonstrate viability in the evolving EV space.



<h2>Nikola (NKLA)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2023/06/nkla1600-2-300x169.png" alt="Nikola (NKLA) Tre BEV electric truck at the Hannover IAA Transportation Motor Show. Germany"><div>Source: VanderWolf Images / Shutterstock.com</div></div>Nikola&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/nkla-stock-quote/" target="_blank">NKLA</a>) is another on the long list of troubled EV companies going public through SPAC mergers between 2020 and 2022. Following the conviction of its founder, Trevor Milton, for fraud, the EV upstart looked to right its course by hiring ex-GM executive Thomas Okray. However, despite his efforts to stabilize and revamp the leadership team, the path ahead remains incredibly challenging.&nbsp;



It ended last quarter producing just 35 hydrogen fuel cell electric trucks, posting modest sales of $11 million. Moreover, it had to recall <a href="https://www.freightwaves.com/news/nikola-will-recall-209-battery-electric-trucks-following-2-fires">its 209 electric semis</a> due to severe battery flaws. That was compounded by a grim $154 million operating loss in the fourth quarter (Q4).



Furthermore, the firm&rsquo;s financial distress is shown by its catastrophic full-year gross margin of negative 597% and dwindling sales from $49.72 million to $35.84 million. Net losses grew to $214 million. Additionally, a rapid cash burn, exceeding $150 million quarterly, casts a shadow over its sustainability.



On the date of publication, Muslim Farooque did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com <a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/">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/2024/04/3-ev-stocks-to-sell-in-april-before-they-crash-burn/">3 EV Stocks to Sell in April Before They Crash &amp; Burn</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

3 EV Stocks to Sell in April Before They Crash & Burn

NWTN Inc.: The Perfect Fundamental Short

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