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Oatly Group

Oatly Group AB is engaged in the food and drinks industry. Some of its products include Oat Drink, Chilled Oat Drink, Oatgurt, Creamy Oat, and Icecreams, among others. It caters to Sweden, Germany, the United Kingdom, Netherlands, North America, Finland, and Other markets. The company generates revenue from the EMEA, Americas, and Asia regions, with the majority of revenue generated from the EMEA region.

Oatly Group AB - American Depositary Shares

Oatly Group AB

SpaceX, under the leadership of Elon Musk, is reportedly preparing to initiate a tender offer next month.
What Happened: SpaceX's tender offer will allow the sale of existing shares at $135 each, valuing the company at over $250 billion, as reported by Reuters.
Musk&#8217;s ambition for human Mars exploration could become a national priority under Trump&#8217;s administration. The NASA Artemis program, which intends to use SpaceX&#8217;s Starship for lunar missions as a precursor to Mars expeditions, is anticipated to shift focus towards Mars with uncrewed missions targeted this decade.
SpaceX might push for relaxed regulations on worker and participant safety in private space flights under Trump&#8217;s presidency.
An investigation last year revealed over 600 worker injuries at SpaceX facilities, <a href="https://www.benzinga.com/news/24/04/38374353/elon-musks-spacex-injury-rates-exceed-industry-average-again-raising-concerns-for-nasa-and-clients-r">exceeding the industry average</a>, raising concerns about the company&#8217;s adherence to safety standards.
See Also: <a href="https://www.benzinga.com/trading-ideas/24/11/41985486/if-tesla-stock-hits-all-time-highs-in-2025-will-it-be-driven-by-trump-musk-relationship-benzinga-readers-say-this?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">If Tesla Stock Hits All-Time Highs In 2025, Will It Be Driven By Trump-Musk Relationship?</a>
Why It Matters: SpaceX&#8217;s valuation has seen a significant increase over the past year. In June, the company was reportedly set for a <a href="https://www.benzinga.com/news/24/06/39516906/elon-musks-spacex-set-for-record-210b-valuation-in-tender-offer-but-still-valued-less-than-tiktok-re">record $210 billion</a> valuation in a tender offer, surpassing its previous $200 billion estimate. This was driven by substantial investor demand.
However, Musk has <a href="https://www.benzinga.com/news/24/06/39519229/elon-musk-dismisses-rumors-of-spacex-ipo-as-it-reportedly-seeks-210b-valuation-pressure-for-short-te">previously dismissed</a> the possibility of a SpaceX initial public offering (IPO), citing the intense pressure for short-term results faced by publicly listed companies.
SpaceX&#8217;s dominance in the space sector is further highlighted by its control over <a href="https://www.benzinga.com/news/24/09/40869627/elon-musk-now-controls-two-thirds-of-the-planets-satellites-and-spacex-is-just-getting-started-with">two-thirds of the planet&#8217;s satellites</a>, thanks to the rapid expansion of its Starlink satellite network.
As of September, SpaceX&#8217;s Starlink service <a href="https://www.benzinga.com/news/24/09/41061483/spacexs-starlink-now-connects-4m-customers-with-more-than-6k-operational-satellites-adds-a-million-u">connects over 4 million customers</a> worldwide, demonstrating the company&#8217;s significant impact on global connectivity.
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>
Read Next:
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<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/11/41973501/teslas-profit-power-vs-rivians-cash-burn-can-the-gap-be-narrowed?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Tesla&#8217;s Profit Power Vs. Rivian&#8217;s Cash Burn: Can The Gap Be Narrowed?</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

News

SPACE

Startups

Tech

SpaceX To Launch Tender Offer, Valuing Company At Over $250 Billion: Report

A major cyber-espionage operation linked to Chinese intelligence has reportedly infiltrated T-Mobile US Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TMUS#NASDAQ">TMUS</a>) and other telecom giants, including rivals AT&amp;T Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/T#NYSE">T</a>) and Verizon Communications Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VZ#NYSE">VZ</a>) <a href="https://www.benzinga.com/news/24/10/41200026/chinese-hackers-breach-at-t-verizon-networks-in-major-wiretap-data-theft-putting-us-national-securit">suffered a similar breach</a>, raising significant national security concerns.
What Happened: T-Mobile&#8217;s network was compromised in a large-scale cyber-espionage operation attributed to Chinese hackers, according to a <a href="https://www.wsj.com/politics/national-security/t-mobile-hacked-in-massive-chinese-breach-of-telecom-networks-4b2d7f92">report</a> by The Wall Street Journal.
This breach, which also affected other U.S. and international telecom companies, targeted cellphone communications of high-value intelligence targets.
The extent of the data compromised from T-Mobile customers remains uncertain.
"T-Mobile systems and data have not been impacted in any significant way, and we have no evidence of impacts to customer information," said a T-Mobile spokesperson, according to the report.
See Also: <a href="https://www.benzinga.com/news/global/24/11/41939983/microsoft-president-warns-beijings-tech-progress-is-catching-up-with-the-west-people-who-dont-go-to-china-too-often-assume-theyre-behind?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Microsoft President Warns Beijing&#8217;s Tech Progress Is Catching Up With The West</a>
The breach, linked to the Salt Typhoon group, is considered historic in its scope and severity by some U.S. officials. AT&amp;T, Verizon, and Lumen Technologies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LUMN#NYSE">LUMN</a>) were also reportedly affected.
Hackers exploited vulnerabilities in Cisco Systems routers and possibly used AI or machine learning to enhance their operations, accessing cellphone lines of senior U.S. government and political figures.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Why It Matters: This breach is part of a series of cyberattacks attributed to Chinese hackers, raising alarms about national security.
In April, FBI Director Christopher Wray warned about <a href="https://www.benzinga.com/news/24/04/38330156/fbi-chief-warns-xi-jinpings-ccp-linked-chinese-hackers-are-planning-to-physically-wreak-havoc-on-us">China&#8217;s potential to disrupt U.S. infrastructure</a>, highlighting the targeting of sectors like telecommunications, energy, and water.
In May, a <a href="https://www.benzinga.com/news/24/05/38659657/major-hacking-incident-exposes-data-of-military-personnel-in-uk-ministry-of-defence-breach-is-china">major hacking incident</a> exposed data of U.K. military personnel, with China suspected as the perpetrator.
The recent breach of T-Mobile and other telecom giants underscores the ongoing threat posed by state-sponsored cyber-espionage, emphasizing the need for heightened cybersecurity measures.
Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/24/11/42022077/elon-musks-xai-seeks-6b-at-50b-valuation-to-acquire-100k-nvidia-chips-for-memphis-data-center">Elon Musk&#8217;s xAI Seeks $6B At $50B Valuation To Acquire 100K Nvidia Chips For Memphis Data Center</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Unsplash

LUMN

TMUS

T-Mobile Hit By Chinese Hackers After Rivals AT&T, Verizon Suffer Breach: Report

ARC Global Investments, a major investor in&nbsp;Trump Media &amp; Technology Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJT#NASDAQ">DJT</a>), has drastically reduced its stake in the company.
What Happened: According to a regulatory filing on Friday, ARC Global and its manager, Patrick Orlando, now hold a mere 0.01% stake in Trump Media, the parent company of&nbsp;Truth Social.
This is a significant decrease from their previous holding of over 5% or more than&nbsp;11 million shares in September.
Orlando, the former CEO of Digital World Acquisition Corp., the SPAC that took Trump Media public, was <a href="https://www.benzinga.com/news/23/03/31451246/trump-linked-spac-digital-world-boots-out-ceo-as-it-looks-to-bring-in-new-management-to-tackle-unpre">removed from his role</a> before the deal was completed.
See Also:&nbsp;<a href="https://www.benzinga.com/trading-ideas/movers/24/11/41927985/bitcoin-ethereum-consolidate-dogecoin-surges-as-election-rally-takes-a-breather-analyst-says-pullback-typical-for-healthy-market?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin, Ethereum Consolidate, Dogecoin Surges As Election Rally Takes A Breather: Analyst Says Pullback &#8216;Typical&#8217; For Healthy Market</a>
In July, the U.S. Securities and Exchange Commission (SEC) sued Orlando, <a href="https://www.benzinga.com/news/24/07/39829953/trump-linked-digital-worlds-former-ceo-sued-by-sec-for-securities-fraud">alleging securities fraud</a> for false and misleading statements as CEO of Digital World Acquisition.
In September, a Delaware judge ruled that Trump Media had violated an agreement with ARC Global. The ruling stated that the fund should receive over&nbsp;half a million additional shares&nbsp;before the expiration of&nbsp;a lock-up on insider sales.
Why It Matters: President-elect Donald Trump&nbsp;currently holds&nbsp;a <a href="https://www.benzinga.com/markets/equities/24/11/41878254/trumps-djt-surges-26-in-past-month-boosting-investors-wealth-by-over-1b-as-ex-president-returns-to-white-house-for-a-second-term">57% stake in&nbsp;Trump Media</a>.
On Election Day, Trump Media reported a 6% year-over-year decrease in its <a href="https://www.benzinga.com/news/earnings/24/11/41760961/djt-stock-volatile-on-election-day-donald-trumps-media-company-reports-q3-earnings-growth-initiativ">third-quarter net sales</a>, which stood at $1.01 million, with all revenue coming from advertising on the Truth Social platform.
Earlier this month, Trump announced that he had no plans to <a href="https://www.benzinga.com/media/24/11/41853221/trump-says-he-wont-sell-trump-media-stock">sell his stake in the Truth Social parent</a>, causing the company&#8217;s stock to soar.
Meanwhile, on Wednesday, it was reported that <a href="https://www.benzinga.com/general/social-media/24/11/41993328/trump-media-insiders-sell-more-than-16-million-in-djt-stock">Trump Media&#8217;s CFO</a> and two other insiders sold millions of dollars worth of shares following the election.
Price Action: DJT shares ended Friday up 4.11%, closing at $28.10. However, in after-hours trading, the stock dipped 0.57% to $27.94 at the time of writing, according to <a href="https://pro.benzinga.com/" 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/24/11/41964758/trumps-attorney-general-pick-matt-gaetz-once-proposed-collecting-federal-income-taxes-in-bitcoin-apart-from-co-sponsoring-bill-to-abolish-the-fed?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump&#8217;s Attorney General Pick Matt Gaetz Once Proposed Collecting Federal Income Taxes In Bitcoin, Apart From Co-sponsoring Bill To Abolish The Fed</a></li>
</ul>
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Markets

Major Investor In Trump Media Offloads Most Of Its Stake In DJT Stock

Elon Musk&#8217;s artificial intelligence venture, xAI, is reportedly in the process of raising up to $6 billion. The funds are intended for purchasing 100,000 Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) chips.
What Happened: xAI's latest funding round is expected to close early next week, as reported <a href="https://www.cnbc.com/2024/11/15/elon-musks-xai-raising-up-to-6-billion-to-purchase-100000-nvidia-chips-for-memphis-data-center.html">by</a> CNBC on Friday. It includes $5 billion from Middle Eastern sovereign funds and an additional $1 billion from other investors. Some of these investors may be looking to increase their stakes.
This fundraising would value Musk's AI startup at $50 billion, more than doubling the $24 billion valuation in its <a href="https://www.benzinga.com/news/24/05/39025708/elon-musk-cheers-funding-after-xai-secures-6b-from-sequoia-andreessen-horowitz-saudi-prince-alwaleed">previous round of funding in May</a>.
The chips are crucial for the new Memphis supercomputer, which will support Tesla Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) Full Self-Driving (FSD) technology.
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.
xAI, launched in July 2023, aims to &#8220;understand the true nature of the universe,&#8221; according to its website.
Last year, xAI introduced a chatbot named Grok, inspired by &#8220;The Hitchhiker&#8217;s Guide to the Galaxy.&#8221; The chatbot was designed to compete with OpenAI&#8217;s ChatGPT, Google&#8217;s Gemini, and Anthropic&#8217;s Claude.
See Also: <a href="https://www.benzinga.com/24/11/41872302/taylor-swift-fans-abandon-elon-musks-x-for-bluesky-how-trumps-election-victory-triggered-swifties-uprising?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Taylor Swift Fans Abandon Elon Musk&#8217;s X For Bluesky, Says Report</a>
Why It Matters: Earlier this year, <a href="https://www.benzinga.com/news/24/05/39027735/elon-musks-xai-raises-6b-heres-where-it-stands-against-openai-anthropic-and-other-ai-rivals">xAI raised $6 billion</a> in its Series B funding round, catapulting its valuation to $24 billion.
This positioned xAI among the world&#8217;s most valuable AI startups, alongside giants like Microsoft Corp.-backed (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) OpenAI and Anthropic. Despite this, xAI is not yet the largest AI startup in terms of valuation.
The <a href="https://www.benzinga.com/news/24/06/39199007/elon-musks-xai-to-take-on-tech-giants-microsoft-google-and-openai-with-planned-memphis-supercomputer">planned Memphis supercomputer</a>, a key component of xAI&#8217;s strategy, is set to enhance its AI capabilities. The project, located at a former manufacturing site, is awaiting approval from local authorities. Discussions with city officials began in March, underscoring the competitive nature of securing such high-profile projects.
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/media/24/11/41964846/openais-operator-ai-agent-will-perform-tasks-like-coding-travel-booking-and-more-launch-expected-in-january-next-year-report">OpenAI&#8217;s &#8216;Operator&#8217; AI Agent Will Perform Tasks Like Coding, Travel Booking And More</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

MSFT

NVDA

TSLA

Elon Musk's xAI Seeks $6B At $50B Valuation To Acquire 100K Nvidia Chips For Memphis Data Center

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

BJDX

SMST

LIFW

SMCX

LIFWW

Numinus Wellness Inc. (OTCQX:<a class="ticker" href="https://www.benzinga.com/stock/NUMIF#OTCQX">NUMIF</a>), a leader in <a href="https://www.benzinga.com/topic/psychedelic-assisted-therapies">psychedelic-assisted mental health care</a>, has <a href="https://www.investors.numinus.com/news/news-details/2024/Numinus-Wellness-Announces-Sale-of-Clinics-and-Unique-Data-Partnership-to-Increase-Access-to-Mental-Health-Care/default.aspx">announced</a> a definitive agreement with Stella, an interventional psychiatry practice, to sell its five wellness clinics in Utah for a total of $3.53 million. The transaction, expected to close by November 30, marks a strategic shift for Numinus, as it pivots towards <a href="https://www.benzinga.com/markets/cannabis/24/09/40845569/mdma-therapy-for-ptsd-faces-fda-delay-are-there-other-ways-forward">developing technology-driven solutions</a> aimed at enhancing the efficiency of mental health care providers.
<h3 class="wp-block-heading">Tech Partnership To Redefine Mental Health Clinics</h3>
In addition to the sale, Numinus and Stella will collaborate on a data-sharing initiative to launch an innovative clinic management platform. By leveraging operational insights from Stella's 12 clinics, Numinus plans to develop a software solution designed to streamline clinic operations, enhance patient outcomes and support insurance reimbursement processes.
"This transaction marks an exciting new chapter in Numinus' strategy to reshape behavioral health care," said Payton Nyquvest, founder and CEO of Numinus. "Leveraging our expertise in patient care, we're now accelerating our mission by focusing on cutting-edge technology solutions. Through our partnership with Stella, we gain unprecedented access to operational data that will enable us to develop a SaaS (software as a service) solution to redefine how clinics operate."
<h3 class="wp-block-heading">Stella Takes Over Utah Operations</h3>
Stella, known for its focus on treating PTSD, anxiety and depression through biological modalities, will assume control of Numinus' Utah clinics. The acquisition includes an upfront payment of $2.08 million, followed by $750,000 in installments throughout 2025, and up to $700,000 in deferred compensation.
"Stella's expansion into Utah brings additional life-changing treatments to the community while supporting Numinus' broader tech initiatives," stated Michael Gershenzon, co-founder and CEO of Stella. "This partnership reflects our commitment to improving behavioral health systems and processes, ultimately enhancing patient care."
<h3 class="wp-block-heading">An Asset-Light Business Model With Enhanced Focus</h3>
With the sale of its clinics, Numinus will shift towards an asset-light model, focusing on its business units like Cedar Clinical Research and the Numinus Network. The strategy aims to integrate clinical research, practitioner training and technology solutions, supporting mental health providers worldwide. The move is part of a broader effort to ease the operational burdens faced by healthcare professionals, particularly as demand for treatments like <a href="https://www.benzinga.com/topic/ketamine-therapy">ketamine</a> and Spravato continues to rise.
"Stella will bolster our clinical solutions offering, leveraging their deep expertise in patient care," Nyquvest added. "We expect strong demand for our Numinus Network Solutions as mental health practitioners navigate growing requests for care."
Cover image made with AI

Cannabis

Psychedelics

NUMIF

Numinus Wellness Sells US Clinics, Partners With Stella For Tech-Driven Mental Health Solutions

President-elect Donald Trump has chosen former Representative Doug Collins (R-GA) to lead the <a href="https://www.benzinga.com/cannabis">U.S. Department of Veterans Affairs (VA). </a>
The decision has sparked discussions about how the agency might handle medical cannabis issues, given his inconsistent track record on the issue, as <a href="https://www.marijuanamoment.net/trumps-pick-to-lead-va-voted-against-letting-agency-doctors-recommend-medical-marijuana-to-veterans-before-he-adopted-a-pro-reform-position/">reported</a> Marijuana Moment.
<h3 class="wp-block-heading">Collins' Record On Cannabis</h3>
During his time in Congress, Collins opposed efforts to expand access to medical cannabis for veterans. Between 2014 and 2016, he voted against three proposals that would have allowed VA doctors to recommend cannabis to their patients.
See Also: <a href="https://www.benzinga.com/markets/cannabis/24/11/42018478/trumps-cabinet-choices-will-his-administration-support-or-restrict-cannabis">Trump&#8217;s Cabinet Choices: Will His Administration Support Or Restrict Cannabis?</a>
Collins' views began to shift in 2019. He supported the STATES Act, which would protect state marijuana programs from federal interference, and co-signed a letter with Rep. Matt Gaetz (R-FL), urging Congress to take action on cannabis policy. 
"We believe this Committee and this Congress must act to clarify the rights and responsibilities, relative to cannabis, of individuals, physicians, businesses, medical patients, and law enforcement officials," they wrote.
Later that year, Collins backed a bipartisan bill to protect banks that serve marijuana businesses in states where it is legal. However, he did not take part in a 2020 vote on federal cannabis legalization.
<h3 class="wp-block-heading">Collins' Stance On Psychedelics</h3>
When it comes to psychedelics, there isn't much known about Collins's stance. However, his shifting views on cannabis policy hint that he could be open to exploring different approaches.
<h3 class="wp-block-heading">Cannabis At The VA</h3>
VA policy has long prohibited its doctors from recommending cannabis, citing marijuana's classification as a Schedule I controlled substance under federal law. This stance has remained consistent across both Republican and Democratic administrations, despite growing support for change in Congress.
Recent efforts to address this issue include a Senate Appropriations Committee request for the VA to explore cannabis as an alternative to opioids. Lawmakers have also introduced measures that would allow VA doctors to recommend cannabis in states where it is legal. These efforts have gained bipartisan support, but none have yet become law.
Veterans service organizations have pushed for further reforms, including expanded research into the potential benefits of cannabis. Last year, a Senate committee approved a bill to study cannabis for veterans with certain medical conditions, but it failed to advance to a floor vote.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/general/health-care/24/11/42017583/trumps-go-wild-on-health-plan-puts-rfk-jr-in-charge-what-it-means-for-cannabis-and-psychedelics-reform">Trump&#8217;s &#8216;Go Wild On Health&#8217; Plan Puts RFK Jr. In Charge: What It Means For Cannabis And Psychedelics Reform</a></li>
</ul>
Cover image made with AI.

Government

Politics

Trump-Appointed Doug Collins To Lead VA: What's Next For Cannabis and Psychedelics In Veterans' Healthcare?

Chardan Capital analyst Daniil Gataulin maintains Clearside Biomedical (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLSD#NASDAQ">CLSD</a>) with a Buy and maintains $6 price target.

Price Target

Analyst Ratings

CLSD

Chardan Capital Maintains Buy on Clearside Biomedical, Maintains $6 Price Target

Chardan Capital analyst Daniil Gataulin maintains Cognition Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CGTX#NASDAQ">CGTX</a>) with a Buy and maintains $11 price target.

CGTX

Chardan Capital Maintains Buy on Cognition Therapeutics, Maintains $11 Price Target

Telsey Advisory Group analyst Cristina Fernandez maintains Williams-Sonoma (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WSM#NYSE">WSM</a>) with a Outperform and maintains $165 price target.

Telsey Advisory Group Maintains Outperform on Williams-Sonoma, Maintains $165 Price Target

– Approval based on positive data from the AUGMENT-101 clinical trial, in which Revuforj delivered robust and durable rates of remission in R/R acute leukemia patients with a KMT2A translocation –
– Syndax to host conference call today at 6:00 p.m. ET –
WALTHAM, Mass., Nov. 15, 2024 /PRNewswire/ -- Syndax Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNDX#NASDAQ">SNDX</a>) today announced that the U.S. Food and Drug Administration (FDA) has approved Revuforj&#xAE; (revumenib) as the first and only menin inhibitor for the treatment of relapsed or refractory (R/R) acute leukemia with a lysine methyltransferase 2A gene (KMT2A) translocation in adult and pediatric patients one year and older. The FDA previously granted Breakthrough Therapy and Fast Track designations as well as Priority Review for Revuforj. The New Drug Application (NDA) received approval through the FDA's Real Time Oncology Review (RTOR) program.

Biotech

General

SNDX

Syndax Announces FDA Approval Of Revuforj, The First And Only Menin Inhibitor To Treat Adult And Pediatric Patients With Relapsed Or Refractory Acute Leukemia With A KMT2A Translocation

IT Tech Packaging (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/ITP#AMEX">ITP</a>) reported quarterly losses of $(0.20) per share. This is unchanged from the same period last year. The company reported $25.08 million in sales this quarter. This is a 59.03 percent increase over sales of $15.77 million the same period last year.

Earnings

IT Tech Packaging Q3 EPS $(0.20), Same YoY, Sales $25.08M Up From $15.77M YoY

RumbleOn, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RMBL#NASDAQ">RMBL</a>) (the "Company" or "RumbleOn") announced today that the close of business (4:00 p.m. Central Time) on November 25, 2024 has been fixed as the record date (the "Record Date") for its previously announced proposed $10.0 million registered equity rights offering (the "Rights Offering"), which was announced in a Form 8-K filed with the U.S. Securities and Exchange Commission ("SEC") on November 12, 2024.

Offerings

RMBL

RumbleOn Announces That The Close Of Business On November 25, 2024 Has Been Fixed As The Record Date For Its Previously Announced Proposed $10M Registered Equity Rights Offering

Telsey Advisory Group analyst Dana Telsey maintains European Wax Center (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EWCZ#NASDAQ">EWCZ</a>) with a Outperform and maintains $8 price target.

EWCZ

Telsey Advisory Group Maintains Outperform on European Wax Center, Maintains $8 Price Target

<a href="https://www.spglobal.com/spdji/en/documents/indexnews/announcements/20241115-1475367/1475367_4rcm.pdf" title="https://www.spglobal.com/spdji/en/documents/indexnews/announcements/20241115-1475367/1475367_4rcm.pdf">https://www.spglobal.com/spdji/en/documents/indexnews/announcements/20241115-1475367/1475367_4rcm.pdf</a>

FOUR

Shift4 Payments Will Replace R1 RCM In The S&P Midcap 400 Effective Prior To The Opening Of Trading On Wednesday, November 20

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Since I&rsquo;m severely lactose, I eat many plant-based foods and drink many plant-based beverages. The data suggests that many other Americans, whether because of lactose intolerance or for other reasons, eat plant-based foods and drink plant-based beverages. Indeed, &ldquo;The (United States) plant-based food <a href="https://gfi.org/marketresearch/">market surged from</a> $3.9 billion in 2017 to $8.1 billion in 2023,&rdquo; according to Good Food Institute. With so many interested customers, plant-based <a href="https://investorplace.com/industries/consumer-staples/food/">food stocks</a> are a solid buy. 



The institute pointed out that the growth was spurred &ldquo;by products that appeal to mainstream consumers by mimicking the taste, texture, and functionality of conventional animal products.&rdquo; Meanwhile, according to Statista, worldwide sales of <a href="https://www.statista.com/forecasts/877369/global-meat-substitutes-market-value">plant-based meat alone</a> are expected to surge from $10.15 billion in 2023 to $16.78 billion in 2028. For investors who want to profit from the latter trend, here are three growing plant-based <a href="https://investorplace.com/industries/consumer-staples/food/">food stocks</a> to buy now.



<h2>Oatly (OTLY)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/06/otly-1600-300x169.jpg" alt="otly stock Rolled oats or oat flakes in bowl with wooden spoons"><div>Source: Vladislav Noseek / Shutterstock.com</div></div>Oatly (NASDAQ: <a href="https://investorplace.com/stock-quotes/otly-stock-quote/">OTLY</a>) specializes in making oat-based milk, although it has also branched out to desserts, yogurts, and whipped cream.



Last quarter, in a very encouraging development, the company <a href="https://seekingalpha.com/news/4127401-oatly-rallies-after-posting-its-first-positive-adjusted-ebitda-quarter-for-north-america">reported its first-ever</a> positive EBITDA, excluding certain items, in North America. Moreover, its overall revenue climbed 3.9%, excluding currency changes, versus the same period a year earlier. The latter increase was driven partly by a year-over-year surge of 9.6% in sales volumes, as measured in total liters. Furthermore, the firm expects its revenue growth to come in at 5% to 10% for the full year. Finally, Oatly&rsquo;s gross margin jumped to 29% last quarter from 19.2% in Q2 of 2023.



Also positively, Oatly gave a major update on its Q2 earnings<a href="https://seekingalpha.com/article/4706305-oatly-group-ab-otly-q2-2024-earnings-call-transcript"> call last month</a>. The company had received &ldquo;positive test results with China&rsquo;s largest coffee chain.&rdquo; The statement, which likely refers to Luckin Coffee (OTC:<a href="https://investorplace.com/stock-quotes/lkncy-stock-quote/">LKNCY</a>), suggests that Oatly may benefit over the longer term from being utilized by many of Luckin&rsquo;s customers.



Since Luckin <a href="https://www.worldcoffeeportal.com/Latest/News/2024/May/Luckin-Coffee-surpasses-18,500-stores-in-China-but">had 18,500 stores</a>, such a development could very well be needle movers for Oatly and OTLY stock.



All of this positive news makes Oatly one of the best plant-based food stocks to buy now.



<h2>Ingredion (INGR)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/11/ingredion-ingr-1600-300x169.jpg" alt="Ingredion Canada Inc head office in Brampton, Ontario, Canada"><div>Source: JHVEPhoto / Shutterstock.com</div></div>Ingredion 9NYSE:<a href="https://investorplace.com/stock-quotes/ingr-stock-quote/">INGR</a>) <a href="https://foodinstitute.com/focus/ten-vegan-food-and-beverage-stocks-to-watch/">provides &ldquo;essential plant-based </a>proteins, starches, texturizers, and other vital ingredients for vegan manufacturers,&rdquo; The Food Institute explained. The company&rsquo;s Ultra Performance line contains<a href="https://www.ingredion.com/na/en-us/news-events/news/ingredion-wins-2022-world-plant-based-award.html"> up to 60% plant protein.</a> It also improves the taste and texture of many foods, including plant-based food and beverages, the company reported in 2022. It accomplishes the latter goal by &ldquo;using pea protein without the raw plant flavor,&rdquo; Ingredion explained.



Ingredion&rsquo;s earnings per share, excluding certain items, <a href="https://seekingalpha.com/news/4134628-ingredion-non-gaap-eps-of-2_87-beats-0_38-revenue-of-1_88b-misses-100m">surged 24% </a>last quarter versus the same period a year earlier. Also positively, its sales volumes increased 5% year-over-year, <a href="https://seekingalpha.com/article/4711008-ingredion-incorporated-ingr-q2-2024-earnings-call-transcript">excluding the impact of</a> the divestment of its South Korean business. The firm raised its 2024 adjusted EPS guidance to $9.70- $10.20 from $9.20-$9.85 previously. The Texture and Healthful Solutions Unit <a href="https://seekingalpha.com/article/4711008-ingredion-incorporated-ingr-q2-2024-earnings-call-transcript">includes dairy alternatives </a>and products used to improve the texture of meat alternatives. Their volumes climbed an impressive 8% YOY.



The company has launched two plant-based products this year which I believe have a great deal of potential. First, its Clean Taste Solubility Solution is over <a href="https://www.ingredion.com/na/en-us/news-events/news/breakthrough-ingredion-stevia-solution-unmatched-in-consumer-testing.html">100 times more </a>soluble than standard stevia. It also tastes better than &ldquo;artificial sweeteners and other stevia ingredients&rdquo; in consumer testing, according to the firm. The product also &rdquo;&nbsp;enables 100% sugar reduction, and is ideal for use in beverages, fruit preps, syrups, liquid concentrates, bars and sauces,&rdquo; Ingredion stated.



Secondly, the firm unveiled <a href="https://www.ingredion.com/na/en-us/news-events/news/new-pea-protein-launched-to-maintain-softness-throughout-shelf-l.html">a pea protein product</a> that it says will better preserve protein bars than the plant proteins that are commonly used to preserve them.



<h2>Sweetgreen (SG)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/11/sg-stock-1-300x169.jpg" alt="The front of a Sweetgreen (SG) store in Arlington, Virginia."><div>Source: melissamn / Shutterstock.com</div></div>Sweetgreen (NYSE:<a href="https://investorplace.com/stock-quotes/sg-stock-quote/">SG</a>), a restaurant chain <a href="https://thebeet.com/whats-vegan-at-sweetgreen/">that specializes in serving salads</a>, is not completely vegan. Unsurprisingly, it does enable vegans and vegetarians to order a wide array of completely plant-based dishes such as Shroomami. 



Other offerings from the company include Guacamole Greens (without chicken) and Curry Cauliflower (without chicken). Given the huge number of vegetables and completely plant-based sauces and dressings that the firm offers, I think chances are high that many U.S. vegans and vegetarians eat there frequently.



In Q2, the company&rsquo;s revenue<a href="https://seekingalpha.com/pr/19813402-sweetgreen-inc-announces-second-quarter-2024-financial-results?source=section%253Amain_content%257Cbutton%253Abody_link%257Cfirst_level_url%253Anews#hasComeFromMpArticle=false"> jumped 21% versus the same</a> period a year earlier to $184.6 million, while its same-store sales surged 9% year-over-year. Moreover, its EBITDA, excluding certain items, came in at $12.4 million, up from $3.3 in million in Q2 of 2023.



In light of Sweetgreen&rsquo;s rapid growth and its high appeal to vegans and vegetarians, I view it as one of the best plant-based food stocks to buy now.



On the date of publication, the responsible editor did not have (either directly or indirectly) any positions in the securities mentioned in this article.



On the date of publication, Larry Ramer&rsquo;s wife held a long position in LKNCY. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.&nbsp; &nbsp; &nbsp;&nbsp;




<div>Larry Ramer has conducted research and written articles on U.S. stocks for 15 years. He has been employed by The Fly and Israel&rsquo;s largest business newspaper, Globes. Larry began writing columns for InvestorPlace in 2015. Among his highly successful, contrarian picks have been SMCI, INTC, and MGM. You can reach him on Stocktwits at @larryramer.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/08/3-plant-based-food-stocks-with-potential-for-market-expansion/">3 Plant-Based Food Stocks with Potential for Market Expansion</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

3 Plant-Based Food Stocks with Potential for Market Expansion

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
A few years ago, venture capital poured a lot of money into the plant-based foods market. 



At the time, the possibilities seemed bright. Particularly with younger more health-conscious consumers, it seemed like &ldquo;better for you&rdquo; foods could take major market share.



However, fast-forward to 2024, and adoption has been much slower than anticipated. Major fast-food chains have started to <a href="https://www.bloomberg.com/news/articles/2024-06-26/mcdonald-s-says-plant-based-test-in-two-key-us-cities-failed">give up on vegan burgers</a> after unsuccessful product tests, and sales momentum has slowed at grocery stores as well.



Be it the high cost of plant-based foods in these inflationary times, perceived inferior taste and texture, or simply consumer indifference, plant-based foods have failed to revolutionize the packaged foods industry so far. These three plant-based <a href="https://investorplace.com/industries/consumer-staples/food/">food stocks</a> to sell are in particular trouble.



<h2>Beyond Meat (BYND)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/02/bynd1600-1-1-300x169.png" alt="Editorial photo on Beyond Meat (BYND) theme. Illustrative photo for news about Beyond Meat - a producer of plant-based meat substitutes. BYND stock"><div>Source: photo_gonzo / Shutterstock.com</div></div>Beyond Meat (NASDAQ:<a href="https://investorplace.com/stock-quotes/bynd-stock-quote/">BYND</a>) stock is back on traders&rsquo; radars. Last week, shares popped from around $5.25 to more than $6/share following the company&rsquo;s <a href="https://investorplace.com/earning-results/2024/08/bynd-stock-earnings-beyond-meat-for-q2-of-2024/">earnings report</a>. That&rsquo;s not too unusual.



What happened next, however, was bizarre. On Friday, shares with no reported news skyrocketed from $6 to $9 within an hour. Almost as soon as it happened, it was over. BYND stock crashed back to $6.39 by the end of the day and closed the session in the red despite the earlier 40% rally.



Beyond Meat&rsquo;s earnings weren&rsquo;t awful &mdash; the company shrunk its operating loss, and results were roughly in line with expectations. However, the business continues to shrink. Revenues of $93.2 million fell sharply year-over-year from 2023&rsquo;s $102.2 million over the same period.



Even in a time of elevated inflation, Beyond Meat seems unable to increase product pricing without losing customer interest. This speaks to a weak brand struggling to hold shelf space in a crowded protein marketplace.



BYND stock has been volatile recently. However, the business&rsquo; trajectory continues to be steadily downward and traders should get off this ride while they can.



<h2>Oatly (OTLY)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/06/otly-1600-300x169.jpg" alt="otly stock Rolled oats or oat flakes in bowl with wooden spoons"><div>Source: Vladislav Noseek / Shutterstock.com</div></div>One of the most active parts of the alternative food space has been in the race to supplant cow&rsquo;s milk. In recent years, we&rsquo;ve seen strong marketing drives behind almond, soy, rice, coconut, hemp and pea milks.



And that&rsquo;s even before getting to Oatly (NASDAQ:<a href="https://investorplace.com/stock-quotes/otly-stock-quote/">OTLY</a>) and its oat-based alternative. The company was founded in the 1990s and markets itself as the original oat drink superior to animal-based milks. However, its nutritional data shows that Oatly contains much more sugar than protein, leading some nutritionists to question how much healthier oat drinks are versus cow milk.



In any case, Oatly has struggled to find a consistent market. In 2021, the company announced big partnerships, such as bringing Oatly to Starbucks (NASDAQ:<a href="https://investorplace.com/stock-quotes/sbux-stock-quote/">SBUX</a>) stores nationwide.



However, the firm&rsquo;s revenue growth dramatically tailed off in 2022. Meanwhile, it continues to run massive operating losses. Oat milk has to compete with all the other plant-based milk within the oat space versus cheaper store-branded alternatives. All this makes Oatly&rsquo;s future incredibly challenging.



<h2>Calavo Growers (CVGW)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/11/calavo-cvgw-1600-300x169.jpg" alt="Calavo Growers branded Mexican avocados in a supermarket in New York"><div>Source: rblfmr / Shutterstock.com</div></div>Unlike the other two names here, Calavo Growers (NASDAQ:<a href="https://investorplace.com/stock-quotes/cvgw-stock-quote/">CVGW</a>) isn&rsquo;t quite a pure-play plant-based foods stock. The company wasn&rsquo;t created to displace an existing animal food commodity.



That said, Calavo&rsquo;s core market, avocados, has emerged as a leading health food item&mdash;particularly for younger consumers. It&rsquo;s no coincidence that avocado toast became the touchstone item for what millennial eaters were spending their incomes on.



In any case, Calavo&rsquo;s avocados and other fresh fruits and vegetables are a nice alternative for folks looking to reduce or entirely stop their consumption of animal foods.



Unfortunately, a good nutritious trend isn&rsquo;t necessarily a good investment. CVGW stock has slumped in recent years amid disruptions in a key avocado-growing region of Mexico. These issues appear to be <a href="https://nypost.com/2024/07/02/us-news/mexican-cartel-violence-could-drive-up-prices-of-avocados-in-the-us/">getting worse</a>, not better, which could further hamper Calavo&rsquo;s profit margins.



Calavo&rsquo;s revenues slumped from $1.19 billion in 2022 to an estimated $644 million this year, a massive decline. Thus, CVGW stock looks like a value trap, given the uncertainty in its business model and issues in the avocado supply chain.



On the date of publication, Ian Bezek 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>.



On the date of publication, the responsible editor did not have (either directly or indirectly) any positions in the securities mentioned in this article.
<div>Ian Bezek has written more than 1,000 articles for InvestorPlace.com and Seeking Alpha. He also worked as a Junior Analyst for Kerrisdale Capital, a $300 million New York City-based hedge fund. You can reach him on Twitter at @irbezek.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/08/3-plant-based-food-stocks-to-sell-in-august-before-they-crash-burn/">3 Plant-Based Food Stocks to Sell in August Before They Crash &amp; Burn</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

3 Plant-Based Food Stocks to Sell in August Before They Crash & Burn

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