Pixie Dust Technologies Bolsa (NASDAQ: PXDT)

Últimas noticias sobre Pixie Dust Technologies (NASDAQ:PXDT) Bolsa

Pixie Dust Technologies

Pixie Dust Technologies Inc is the serial incubator that provides solutions for social trust and faith. The company develops computer technology that blends into the world by using interface technology that utilizes sound and light. Its products include Sound Hug: A device that allows one to enjoy music with light and vibration by hugging it, Sonorepro; a hair care device equipped with non-contact oscillating pressure stimulation technology born from ultrasonic research, Vuevo; A service that visualizes conversations between multiple people and connects differences in hearing, and kikippa; gamma wave sound care device.

Pixie Dust Technologies, Inc. - ADS, each representing one common share

Pixie Dust Technologies Inc

In the wake of Hurricanes Helene and Milton, Vice President Kamala Harris and the White House have publicly rebuked former President Donald Trump for his remarks on the federal disaster response, accusing him of exploiting the catastrophe for political advantage.
What Happened: Harris, during a town hall in Las Vegas, responded to criticisms about the federal disaster recovery efforts.
&#8220;In this crisis — like in so many issues that affect the people of our country — I think it so important that leadership recognizes the dignity to which people are entitled,&#8221; said Harris, according to an AP News <a href="https://apnews.com/article/trump-harris-nevada-michigan-hispanic-voters-milton-2a9db630d1318e78de91efd2df5a16f0">report</a>.
&#8220;I have to stress that this is not a time for people to play politics,&#8221; said the Vice President and the Democratic presidential candidate.
At the Detroit Economic Club, Trump expressed empathy for the hurricane victims but criticized the Biden administration&#8217;s response, particularly in North Carolina after Hurricane Helene. He alleged, &#8220;They&#8217;ve let those people suffer unjustly.&#8221; According to AP, the former president has promoted falsehoods about the federal response for multiple days.
See Also: <a href="https://www.benzinga.com/news/24/10/41242634/ron-desantis-says-kamala-harris-is-delusional-for-trying-to-say-his-sole-focus-on-people-of-florida?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Ron Desantis Says Kamala Harris Is &#8216;Delusional&#8217; For Trying To Say His Sole Focus On People Of Florida Is</a>
In a White House Situation Room briefing, President Joe Biden debunked Trump&#8217;s misrepresentation about federal aid, specifically the false assertion that it was limited to $750. &#8220;That $750 that they&#8217;re talking about, Mr. Trump and all those other people know it&#8217;s a lie to suggest that&#8217;s all they&#8217;re going to get,&#8221; Biden said.
Despite the storm, both Harris and Trump are visiting key swing states, strategically aiming to strengthen support among vital voting groups for the forthcoming election.
Why It Matters: This political back-and-forth comes in the aftermath of Hurricanes Helene and Milton, which have caused significant destruction in the Southeast. Harris visited North Carolina to <a href="https://www.benzinga.com/markets/equities/24/10/41196094/harris-to-survey-helene-impact-in-north-carolina-one-day-after-trump-visit">support recovery efforts</a> following Hurricane Helene, just a day after Trump&#8217;s visit, during which he reportedly made misleading claims about the federal response.
The White House has also <a href="https://www.benzinga.com/news/24/10/41195085/white-house-counters-gop-accusations-of-fema-funds-misuse-denies-disaster-relief-funding-was-used-fo">countered GOP allegations</a> of FEMA funds misuse following Hurricane Helene.
Image via Shutterstock
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

News

Politics

General

Kamala Harris Attacks Trump For Criticism Of Federal Response To Hurricanes: 'Not A Time For People To Play Politics'

The New Jersey General Assembly unanimously passed Bill A3881 in late September, aiming to prohibit the dissemination of certain criminal history information for individuals with <a href="https://www.benzinga.com/markets/cannabis/21/07/21967309/new-jersey-cannabis-legalization-judiciary-dismisses-tens-of-thousands-marijuana-convictions-can">expunged records</a>, including marijuana offenses. 
<h3 class="wp-block-heading">New Bill Aims To Prevent Discrimination</h3>
The bill addresses <a href="https://www.benzinga.com/markets/cannabis/24/09/40869408/richard-nixon-secretly-admitted-marijuana-is-not-particularly-dangerous-new-tapes-reveal">long-standing harms caused by the War on Drugs</a>, particularly marijuana-related offenses. Sponsored by Assembly members Annette Quijano (D) and Ellen J. Park (D), the <a href="https://www.njleg.state.nj.us/bill-search/2024/A3881">legislation</a> seeks to prevent discrimination and improve access to opportunities by safeguarding erased histories during background checks.
If enacted, the State Bureau of Identification (SBI) would be required to check for unprocessed expungement orders before sharing any criminal history information. The SBI would also need to update its records to reflect any eligible expungements, ensuring outdated information does not hinder individuals seeking employment, housing or education.
<ul>
<li>Get Benzinga&#8217;s exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter <a href="https://newsletteremail.benzinga.com/subscribe">here</a>. If you&#8217;re serious about the business, you can&#8217;t afford to miss out.</li>
</ul>
<h3 class="wp-block-heading">NJ Legislators Highlight Fairness And Inclusion</h3>
&#8220;This unanimous vote underscores the importance of protecting privacy and ensuring fairness in our justice system,&#8221; <a href="https://www.assemblydems.com/CivicAlerts.aspx?AID=12342">said</a> Quijano in a press release. &#8220;Expungements are intended to provide individuals with a second chance, and this legislation ensures that they are not burdened by their past when it has been legally erased.&#8221;
Park added, &#8220;By removing the barriers associated with a criminal record, people gain greater access to job opportunities, housing, and education, allowing them to move forward without the weight of past mistakes.&#8221;
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/09/41011619/it-takes-a-village-to-build-generational-wealth-nbas-al-harrington-on-his-full-circle-moment-and">&#8216;It Takes A Village…To Build Generational Wealth&#8217;: NBA&#8217;s Al Harrington On His Full Circle Moment And Opening NJ Cannabis Dispensary</a>
<h3 class="wp-block-heading">Nearly 20,000 Expungements Still Pending As Senate Yet To Pass Bill</h3>
According to an April <a href="https://www.njoag.gov/governor-murphy-attorney-general-platkin-and-new-jersey-state-police-announce-a-nearly-70-reduction-in-expungement-backlog/">report</a> by state&#8217;s Attorney General Matthew J. Platkin cited in the press release, there were 19,874 pending expungement cases through March 2024. The backlog prompted a class action lawsuit, leading to an Interim Consent Order in June to process expungement orders promptly.
However, despite the Assembly&#8217;s progressive step, the bill awaits further challenges in New Jersey's Senate, where it has yet to pass committee scrutiny, <a href="https://headynj.com/breaking/bill-stopping-spread-of-expunged-criminal-marijuana-history-passes-nj-assembly/">noted</a> Heady NJ. State Senator Brian Stack (D) sponsored the companion legislation, <a href="https://www.njleg.state.nj.us/bill-search/2024/S2513">S2513</a>, which also aims to curb the improper dissemination of criminal records until they are updated.
Read Also:
<ul>
<li><a href="https://www.benzinga.com/markets/cannabis/24/10/41214802/joe-biden-quick-question-before-you-go-are-those-cannabis-pardons-from-2-years-ago-still-on">Joe Biden, Quick Question Before You Go: Are Those Cannabis Pardons From 2 Years Ago Still On?</a></li>
<li><a href="https://www.benzinga.com/markets/cannabis/24/09/40845389/nj-governor-signs-bill-tightening-rules-on-hemp-industry-stakeholders-protest-big-alcohol-celebr">NJ Governor Signs Bill Tightening Rules On Hemp: Industry Stakeholders Protest, Big Alcohol Celebrates</a></li>
</ul>

Cannabis

Government

Regulations

New Jersey Assembly Passes Bill To Protect Privacy Of Expunged Cannabis Records

As the 2024 presidential elections draw nearer, Irwin Simon, CEO of Tilray Brands Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLRY#NASDAQ">TLRY</a>), foresees a turning point for the cannabis industry, regardless of the <a href="https://www.benzinga.com/topic/2024-election">election&#8217;s outcome. </a>
Speaking alongside Tilray's fiscal 2025 first-quarter earnings report, Simon expressed optimism that either candidate could pave the way for regulatory reforms that would benefit the cannabis market in the United States, Investopedia <a href="https://www.investopedia.com/tilray-ceo-bullish-on-cannabis-legalization-following-2024-election-8726335">reported.</a>
See Also: <a href="https://www.benzinga.com/markets/cannabis/24/10/41273594/tilray-reports-200m-q1-net-revenue-up-13-yoy-as-net-loss-improves">Tilray Reports $200M Q1 Net Revenue, Up 13% YoY As Net Loss Improves</a>
"We believe that there is a greater likelihood that the upcoming U.S. presidential elections will result in improved regulatory changes in the cannabis industry, as both candidates have publicly confirmed their support for further legalization," Simon said.
<h3 class="wp-block-heading">Tilray's Financial Snapshot</h3>
Tilray, a Canadian company that has expanded its footprint into Europe, Australia, Latin America and the U.S., reported promising financial results for its first quarter of fiscal 2025.
The company saw a 13% year-over-year increase in revenue, reaching $200 million. Its net loss narrowed to $34.7 million, a marked improvement from the $55.9 million loss reported the previous year.
<h3 class="wp-block-heading">Candidates&#8217; Shifting Stances On Cannabis</h3>
Vice President Kamala Harris has long been vocal about her support for marijuana reform.
In a recent interview on the "All the Smoke" podcast, Harris reiterated her stance, stating: "I just feel strongly people should not be going to jail for smoking weed. And we know historically what that has meant and who has gone to jail."
Read More: <a href="https://www.benzinga.com/markets/cannabis/24/09/41106120/kamala-harris-we-need-to-legalize-cannabis-vp-says-for-first-time-as-presidential-candidate-in-a">Kamala Harris: &#8216;We Need to Legalize&#8217; Cannabis, VP Says For First Time As Presidential Candidate In &#8216;All The Smoke&#8217; Podcast</a>
Former Republican President Donald Trump has shifted his position on cannabis. Recently, he <a href="https://www.benzinga.com/markets/cannabis/24/09/40774795/trump-says-hell-reschedule-cannabis-if-elected-backs-marijuana-banking-reform-and-floridas-amend">expressed support for a Florida amendment</a> that seeks to legalize recreational marijuana.
This marks a significant departure from his administration's previous approach, where then-Attorney General Jeff Sessions rescinded the Cole Memorandum, a policy that had protected state-level cannabis programs from federal interference.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/cannabis/24/10/41270606/kamala-harris-advises-on-howard-stern-show-dont-get-stoned-before-visiting-the-sphere-in-las-veg">Kamala Harris Advises On Howard Stern Show: Don&#8217;t Get Stoned Before Visiting The Sphere In Las Vegas</a></li>
</ul>
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Markets

TLRY

Tilray CEO Irwin Simon: 2024 Election Likely To Drive U.S. Cannabis Legalization, No Matter Who Wins

In a recent development, NATO Secretary-General Mark Rutte has urged the international community to halt their concerns over the potential impact of a Donald Trump presidency on the Ukraine conflict.
What Happened: During a London visit, Rutte expressed his faith in Trump&#8217;s grasp of the Ukraine situation. He stressed that the conflict is not only about Ukraine but also about the safety and future security of the United States, <a href="https://www.politico.eu/article/nato-boss-mark-rutte-dont-worry-about-trump/">reported</a> Politico.
The former Dutch Prime Minister asked the international community to &#8220;stop worrying about a Trump presidency.&#8221;
&#8220;He understands completely and agrees with me that this fight to Ukraine is not only about Ukraine, it&#8217;s also about the safety and the future security of the United States," said Rutte.
These comments from Rutte may stir controversy in some European capitals, considering Trump&#8217;s hesitation to support Ukraine&#8217;s victory over Russia. Instead, Trump has been advocating for a swift negotiated end to the conflict.
The NATO chief&#8217;s statements were made during a tripartite discussion with Ukrainian President Volodymyr Zelenskyy and British Prime Minister Keir Starmer at No. 10 Downing Street. The meeting was part of Zelenskyy&#8217;s tour of Western capitals to seek additional support.
See Also: <a href="https://www.benzinga.com/markets/cannabis/24/10/41270606/kamala-harris-advises-on-howard-stern-show-dont-get-stoned-before-visiting-the-sphere-in-las-veg?itm_source=parsely-apiKamala Harris Advises On Howard Stern Show: Don't Get Stoned Before Visiting The Sphere In Las Vegas" target="_blank" rel="noreferrer noopener">Kamala Harris Advises On Howard Stern Show: Don&#8217;t Get Stoned Before Visiting The Sphere In Las Vegas</a>
Why It Matters: The potential return of Trump to the White House has triggered a <a href="https://www.benzinga.com/news/24/08/40508166/trumps-potential-return-triggers-investors-demand-for-european-defense-startups">surge in investments</a> in European defense-tech startups. This is due to Trump&#8217;s unpredictable approach towards NATO and defense budgets, leading to increased military spending across Europe.
Earlier, NATO had announced measures to &#8216;Trump-proof&#8217; Ukraine aid, including a $40 billion annual <a href="https://www.benzinga.com/news/24/07/39590765/nato-to-trump-proof-ukraine-aid-after-bidens-weak-debate-performance-with-40b-annual-financial-pledg">financial pledge of military support</a> to Ukraine. This was in response to Trump&#8217;s criticism of U.S. spending on Ukraine and his potential return to power.
Trump&#8217;s stance on NATO has been a subject of criticism, with former U.S. National Security Advisor, John Bolton, suggesting that Trump&#8217;s <a href="https://www.benzinga.com/news/24/03/37578110/former-nsa-says-trump-foolishly-targeting-nato-instead-of-cheering-for-amerixit-from-un-provides-lit">ongoing assault </a>on NATO undermines U.S. strength by eroding alliances.
Image via Shutterstock
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<li>Congress Is Making Huge Investments. <a href="https://www.benzinga.com/gov-trades">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

Trump's Return Doesn't Bother NATO Chief: 'Stop Worrying'

ALCE

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

Election polls continue to show a close race between Donald Trump and Vice President Kamala Harris in key swing states with less than one month to go until the<a href="https://www.benzinga.com/topic/2024-election"> 2024 presidential election.</a>
What Happened: While Harris posted a lead in <a href="https://www.benzinga.com/general/politics/24/10/41241771/harris-vs-trump-vice-president-hits-record-lead-in-2024-election-poll-but-independent-voters-cou">most 2024 election polls</a> of national voters, swing state polls have been much closer.
A new Emerson College <a href="https://emersoncollegepolling.com/october-2024-state-polls-mixed-movement-across-swing-states-shows-dead-heat/">poll </a>of voters in seven key swing states shows a close race between the two candidates with Trump having the edge.
Here are the results, and the totals from <a href="https://www.benzinga.com/general/politics/24/09/40949853/harris-in-trouble-new-swing-state-poll-shows-trump-gains-ground-in-key-battleground-areas-for-20">the previous poll</a> in parentheses:
<ul>
<li>Arizona: Trump 49% (49%), Harris 47% (48%)</li>
<li>Georgia: Trump 49% (50%), Harris 48% (47%)</li>
<li>Michigan: Trump 49% (47%), Harris 49% (49%)</li>
<li>Nevada: Harris 48% (48%), Trump 47% (48%)</li>
<li>North Carolina: Trump 49% (48%), Harris 48% (49%)</li>
<li>Pennsylvania: Trump 49% (48%), Harris 48% (47%)</li>
<li>Wisconsin: Trump 49% (49%), Harris 49% (48%)</li>
</ul>
The polls show Trump leading in four of the seven states, Harris leading in one state and the two candidates tied in two states. The last Emerson College poll of the seven states had Trump leading in four states with Harris leading in two states. The August poll had each candidate leading three states.
In the latest poll, Trump gained support in three states, lost support in two states and saw the same support in two states. Harris gained support in three states, lost support in two states and saw the same support in two states.
"With just under four weeks to go, the race remains too close to call in key swing states, all within the margin of error," Emerson College Polling executive director Spencer Kimball said.
Did You Know?
<ul>
<li>Congress Is Making Huge Investments. <a href="https://www.benzinga.com/gov-trades/?utm_source=BZprocontent101024">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 <a href="https://www.benzinga.com/topic/swing-states">seven swing states</a> in question together represent 93 electoral votes in the 2024 election. Six of the seven states above were won by Biden in the 2020 election with Trump winning North Carolina. Several of the states were flipped from Trump's win in the 2016 election.
Harris has seen the number of swing states she led in or tied with Trump in decline in recent months, which could be bad news for the vice president.
With swing states playing a pivotal role in who wins the election, Harris will need to see support build in the election homestretch for election forecasters to give her a good chance to win the election.
Election polls aren't perfect and the fact the poll results are within its margin of error points to an incredibly close election too close to call.
Read Next: <a href="https://www.benzinga.com/general/entertainment/24/10/41282077/trump-rejects-debate-offers-from-fox-cnn-as-harris-agrees-to-town-hall-there-will-be-no-rem"> • Trump Rejects Debate Offers From Fox, CNN As Harris Agrees To Town Hall: &#8216;There Will Be No Rematch&#8217;</a>
Photo: Shutterstock

Trump Vs. Harris: 2024 Election Swing State Poll 'Too Close To Call,' But This Candidate Leads

Artificial intelligence (AI) stocks are surging and the 2024 presidential election is shaping up to be one of the most contentious in history. But ask retail traders how it affects them and <a href="https://www.benzinga.com/topic/retail-traders">the response is, &#8220;meh.</a>&#8220;
What Happened: According to the latest survey from Public, an investing platform that prides itself on helping members build asset portfolios, most retail traders just aren&#8217;t <a href="https://www.benzinga.com/money/best-artificial-intelligence-stocks">excited by AI stocks</a>.
Never mind the fact that AI companies — Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), Super Micro Computer Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>), Micron Technology (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>) — saw significant gains and outpaced broader market <a href="https://www.benzinga.com/top-stories/24/06/39383798/the-ai-big-10-10-ai-stocks-now-comprise-28-of-s-p-500-up-from-14-in-2023">indexes like the S&amp;P 500</a>.
Of the 1,300 responses Public <a href="https://public.com/research/2024-retail-investor-report">sourced</a> from investors, the firm determined:
<ul>
<li>35% say that new technology excites them.</li>
<li>30% have purchased a company stock because of their AI capabilities.</li>
<li>64% say AI will be a standard tool for research in the future.</li>
<li>50% are likely to use it to process financial information in the future.</li>
</ul>
The contentious presidential election between Republican Donald Trump and Democrat Vice President Kamala Harris doesn&#8217;t seem to faze investors, either.
&#8220;Many investors are indifferent to the election as it relates to the market or their own portfolio, but a number of investors purchased company stocks or traded options based on who they predict will win and how it will benefit their portfolio,&#8221; Public derived from the findings. 
Here&#8217;s a breakdown:
<ul>
<li>63% say no, the election does not impact their investing strategy.</li>
<li>37% say yes, it does impact their investing strategy.</li>
<li>16% of investors are buying more stocks or options of a company based on who they predict will win and the impact it will have on their portfolio.</li>
<li>13% are investing less in 2024 due to the election.</li>
<li>12% are investing more.</li>
</ul>
There is also a direct 50/50 split among investors saying that economic data from the Federal Reserve impacts their investing decisions with 50.4% of retail traders saying &#8220;yes&#8221; and 49.6% saying &#8220;no.&#8221;
See Also: <a href="https://www.benzinga.com/general/politics/24/10/41279272/donald-trump-pushes-tariffs-on-chinese-cars-in-detroit-visit-vows-to-revamp-industry">Trump Pushes Tariffs On Chinese Cars In Detroit Visit, Vows To Revamp Industry</a>
Why It Matters: The ho-hum response toward the economy is <a href="https://www.benzinga.com/news/24/09/41049170/harris-vs-trump-55-cfos-believe-vice-president-likely-to-win-election-although-ex-president-is-bette">something that has plagued</a> the Biden-Harris administration for months, despite solid numbers.
As <a href="https://www.benzinga.com/topic/election-day">Election Day draws near</a>, there is ongoing coverage of how the electorate views the economy and costs.
But here are the facts:
<ul>
<li>Annual inflation has <a href="https://www.benzinga.com/markets/equities/24/10/41272627/dow-falls-over-100-points-us-inflation-rate-slows-to-2-4-in-september">fallen to 2.4 percent</a>, its slowest pace since early 2021.</li>
<li>The <a href="https://www.benzinga.com/economics/macro-economic-events/24/10/41184080/us-economy-adds-254-000-new-jobs-in-september-smashes-expectations-unemployment-f">unemployment rate recently dropped</a> to 4.1%</li>
<li>With gains of 20.9%, the S&amp;P 500 year-to-date performance is up from <a href="https://www.benzinga.com/general/education/24/10/41191050/s-p-500-to-end-year-over-6-000-34-of-benzinga-readers-predict-raging-bull-run">recent presidential election years</a>.</li>
<li>Consumer morale hit <a href="https://www.benzinga.com/24/09/40857449/consumer-morale-hits-4-month-high-inflation-expectations-ease-partisan-gaps-in-sentiment-inched-up">a four-month high</a> in September, driven by more spending and <a href="https://www.benzinga.com/economics/macro-economic-events/24/09/40812986/inflation-slows-to-2-5-in-august-lowest-rate-since-february-2021-core-index-remai">favorable price conditions</a>.</li>
</ul>
And regarding AI, automation continues to be a <a href="https://www.wsj.com/business/logistics/us-ports-automation-union-strike-f94bb4b7">major point of concern</a> to labor workers who fear replacement. In June, the Kobeissi Letter claimed the AI hype was &#8220;<a href="https://twitter.com/KobeissiLetter/status/1802793751120592960">stronger than ever</a>.&#8221; 
As for what retail traders care about when crafting their portfolios, Public ranked these responses: strong earnings, personal confidence in a company, leadership, transparent communication and familiarity with the brand. See chart below.
<figure class="wp-block-image size-large"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/10165546/Screenshot-2024-10-10-at-4.53.57%E2%80%AFPM-1024x657.png" alt="With more data available today than ever before, investors pay attention 
to more than just financials before making an investment decision. Here 
is a breakdown of what is important to them ranked in order of 
importance before investing in a company: 
Strong earnings 
Personal confidence in a company 
Strong leadership 
Transparent communication 
Familiarity with the brand" class="wp-image-590277"/><figcaption class="wp-element-caption">Courtesy of Public.com</figcaption></figure>
Now Read:
<ul>
<li><a href="https://www.benzinga.com/real-estate/24/10/41272556/renters-say-kamala-harris-beats-trump-on-housing-affordability-48-choose-the-vice-president">Kamala Harris Beats Trump On Housing Affordability, Renters Say </a></li>
</ul>
Photo: Shutterstock

Federal Reserve

NVDA

SMCI

Retail Traders Unfazed By AI Hype, Most Say 2024 Election Is As Relevant To Portfolios As A Magic 8-Ball

As California's cannabis market expanded after legalization, several leading companies seemed poised for dominance. However, due to mismanagement, regulatory pressures and market saturation, many of these giants have collapsed. Here's a closer look at the industry's most notable failures.
<ul>
<li>Get Benzinga&#8217;s exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter&nbsp;<a href="https://newsletteremail.benzinga.com/subscribe" target="_blank" rel="noreferrer noopener">here</a>. You can't afford to miss out if you&#8217;re serious about the business.</li>
</ul>
<h3 class="wp-block-heading">MedMen: From Unicorn To Bankruptcy</h3>
MedMen, once celebrated as the &#8220;Apple Store of Weed,&#8221; reached a $2 billion valuation. However, rapid expansion, failed acquisitions, and leadership turnover created financial turmoil. By April 2024, MedMen had filed for bankruptcy with $411 million in liabilities.
<h3 class="wp-block-heading">Eaze: The Uber Of Weed Falls</h3>
Eaze, once California's largest cannabis delivery service, <a href="https://www.benzinga.com/markets/cannabis/24/04/38282181/eaze-delivery-workers-threaten-first-cannabis-strike-of-2024-amid-ongoing-negotiations">defaulted </a>on a $36.9 million loan and was later acquired by billionaire James Henry Clark. Despite the change in ownership, Eaze could not recover from high operating costs, regulatory burdens and competition from unlicensed operators. 
The company will shut down by December 2024, leaving 500 employees without jobs. This failure underscores the harsh market conditions many cannabis businesses face.
Read Also:<a href="https://www.benzinga.com/markets/cannabis/24/09/41053140/i-dealt-with-gangsters-shakedowns-loan-sharks-and-government-corruption-says-entrepreneur-who-bu"> &#8216;I Dealt With Gangsters, Shakedowns, Loan Sharks And Government Corruption,&#8217; Says Entrepreneur Who Built The First Cannabis Unicorn</a>
<h3 class="wp-block-heading">FlowKana: Bye Bye To The Sustainable Dream</h3>
FlowKana was a pioneer in promoting sustainability and small farmers, but it struggled with <a href="https://www.benzinga.com/topic/california-cannabis">California&#8217;s regulatory environment </a>and a market flooded with excess supply. Despite raising $175 million and becoming California's top-selling flower brand in 2018, the company couldn't survive the dramatic drop in wholesale cannabis prices.&nbsp;
FlowKana paid as low as $350 per pound for lower-grade flowers in 2019, far below sustainable levels. The company ceased operations in 2023, reflecting the challenges of balancing sustainability with profitability in a turbulent market.
<h3 class="wp-block-heading">Herbl: The Supply Chain Giant Stumbles</h3>
Herbl, once a major force in <a href="https://www.benzinga.com/topic/california-cannabis">California's cannabis distribution network</a>, handled approximately $700 million in annual sales and worked with over 1,000 licensed retailers. However, the company's collapse in 2024 was marked by severe liquidity problems and an inability to keep up with mounting unpaid invoices.&nbsp;
Facing a canceled line of credit from its primary lender, East West Bank, Herbl&#8217;s financial health rapidly <a href="https://mjbizdaily.com/big-california-marijuana-distributor-herbl-collapses-brands-left-unpaid/">deteriorated</a>, leading to millions of dollars owed to cannabis brands and the state in unpaid taxes.&nbsp;
The company laid off the majority of its workforce, leaving only a small team to manage collections from retailers, many of whom were also struggling to pay what they owed. Herbl's receivership underscores the fragility of <a href="https://www.benzinga.com/topic/california-cannabis">California's cannabis infrastructure</a>, where even the largest and seemingly best-established players cannot escape the pressures of overregulation, high taxes and an unpredictable market
Read Also:<a href="https://www.benzinga.com/markets/cannabis/21/11/24264808/co-founder-of-flow-cannabis-calls-for-tax-revolt-in-california-says-regulatory-system-unworkable"> Co-Founder of Flow Cannabis Calls For Tax Revolt In California, Says Regulatory System &#8216;Unworkable&#8217;</a>
<h3 class="wp-block-heading">A Wake-Up Call</h3>
These high-profile failures reveal the volatility of <a href="https://www.benzinga.com/topic/california-cannabis">California's cannabis market</a>. Overregulation, high taxes and competition from illicit operators have strained even the biggest companies. The collapse of MedMen, Eaze, FlowKana and Herbl has left thousands of people jobless, and the cannabis sector grapples with the need for reform to prevent further losses.
Read Next:<a href="https://www.benzinga.com/markets/cannabis/24/10/41236050/californias-largest-cannabis-delivery-service-closes-down-lays-off-500-workers"> California&#8217;s Largest Cannabis Delivery Service Closes Down, Lays Off 500 Workers</a>

Entrepreneurship

Financing

Asset Sales

Management

Epic Cannabis Fails You Should Know About: MedMen, Eaze And Others Go Down In California Meltdowns

Toronto-Dominion Bank (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TD#NYSE">TD</a>) agreed to pay approximately $3.09 billion in fines to U.S. authorities after pleading guilty on Thursday to money laundering-related charges in an <a href="https://www.benzinga.com/government/24/10/41271816/td-bank-to-face-3b-penalty-growth-limits-in-us-settlement-over-anti-money-laundering-failures">ongoing case</a> brought by federal prosecutors, who accused the Canadian bank of essentially making it easy for criminals and cartels to move money around the world for nearly a decade.
"By making its services convenient for criminals, TD Bank became one," said Attorney General Merrick B. Garland on Thursday. "Today, TD Bank also became the largest bank in U.S. history to plead guilty to Bank Secrecy Act program failures, and the first U.S. bank in history to plead guilty to conspiracy to commit money laundering."  
The penalties are the largest ever imposed by U.S. authorities on a bank for money laundering violations.
Read Also: <a href="https://www.benzinga.com/government/24/10/41271816/td-bank-to-face-3b-penalty-growth-limits-in-us-settlement-over-anti-money-laundering-failures">TD Bank To Face $3B Penalty, Growth Limits In US Settlement Over Anti-Money Laundering Failures</a>
Referring to court documents from between January 2014 and October 2023, the Justice Department's Office of Public Affairs <a href="https://www.justice.gov/opa/pr/td-bank-pleads-guilty-bank-secrecy-act-and-money-laundering-conspiracy-violations-18b">stated, </a>"TD Bank had long-term, pervasive, and systemic deficiencies in its U.S. AML policies, procedures and controls but failed to take appropriate remedial action."
<h1 class="wp-block-heading">Employees Involved?</h1>
Federal prosecutors also said some of the bank's employees had enabled the money laundering the bank was slow to detect and address.
"TD Bank's persistent prioritization of growth over controls allowed its employees to break the law and facilitate the laundering of hundreds of millions of dollars," stated Michael J. Hsu, the acting Comptroller of the Currency, <a href="https://www.nytimes.com/2024/10/10/business/td-bank-fine.html">reported</a> the New York Times.
<h1 class="wp-block-heading">Rare But Stern Response: Asset Cap</h1>
The Office of the Comptroller imposed an asset cap that will prevent TD Bank from growing beyond its current $370 billion in assets and curbing its growth in a key market. This marks the first such restriction on a major bank since Wells Fargo in 2018. &nbsp;
"The imposition of an asset cap will ensure that the bank focuses on building proper controls commensurate with its risk profile," Hsu said.
The TD Bank Group, Canada's second-largest bank, has over 1,000 branches in the U.S.&nbsp;
"The bank is also pleading guilty to criminal charges brought by law enforcement authorities," <a href="https://www.federalreserve.gov/newsevents/pressreleases/enforcement20241010a.htm">noted</a> the Federal Reserve in a press release. "The Board&#8217;s action will help ensure that TD operates in compliance with all U.S. laws and regulations."
Read Now:
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</ul>
TD Price action: TD Bank stock closed Thursday 5.29% lower at $59.44 per share at market close on Thursday.
Photo: JHVE Photo via Shutterstock

Large Cap

Legal

Global

TD Bank Pays $3B Fine After Pleading Guilty In Money Laundering Case, 'Making Its Services Convenient For Criminals'

A Major League Baseball team is up for sale and while billionaire Warren Buffett likely isn't buying the team, he could benefit thanks to a small stake<a href="https://www.benzinga.com/general/sports/23/11/35837148/warren-buffett-finds-sweet-spot-hits-home-run-with-stake-in-major-league-baseball-team"> in another team.</a>
What Happened: The sale of <a href="https://www.benzinga.com/topic/mlb">Major League Baseball </a>(MLB) teams has been rare in recent years, which means a new sale could reset the valuation metrics of teams, an item that shareholders of Atlanta Braves Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BATRA#NASDAQ">BATRA</a>)(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BATRK#NASDAQ">BATRK</a>) will be watching.
The Pohlad Family, which has owned the Minnesota Twins since 1984, announced Thursday that the team is up for sale.
Carl Pohlad, who passed away in 2009, bought the Twins for $44 million in 1984, as reported by <a href="https://www.sportico.com/business/team-sales/2024/minnesota-twins-for-sale-pohlad-family-1234800592/">Sportico</a>. His children Jim, Bob and Bill inherited the team upon his death. Jim Pohlad currently serves as the team's controlling owner.
"After months of thoughtful consideration, our family reached a decision this summer to explore selling the Twins. As we enter the next phase of this process, the time is right to make this decision public," the team said.
The Twins won World Series titles in 1987 and 1991 as the Twins and the franchise previously won a title as the Washington Senators in 1924, prior to moving to Minnesota in 1961.
The team has made the MLB Playoffs in four of the past 10 years, winning only one playoff series over the same time period.
The Twins narrowly missed making the playoffs in 2024 with an 82-80 record. General Manager Thad Levine announced he was leaving after eight years with the team. Manager Rocco Baldelli is slated to return for a seventh season in 2025. One plus for the Twins is having managerial stability with only four managers over the last 38 years.
A negative for the team and a potential new owner will be trying to improve television revenue. A deal with Bally Sports North expired after the 2023 season and Diamond Sports Group paid a reduced rate to have Twins games in 2024. The league announced they will take over production and distribution of Twins games and negotiate future deals.
You may not be a billionaire like Warren Buffett, but you can uncover hidden gems in the stock market using our proprietary data and pattern recognition — <a href="https://www.benzinga.com/general/entertainment/24/10/41187322/benzingas-stock-whisper-index-5-stocks-investors-secretly-monitor-but-dont-talk-about-yet">check out five stocks flying under the radar that deserve your attention.</a>
Why It's Important: Ownership of baseball teams like many professional sports teams is often reserved for the wealthiest people.
Baseball has a history of corporations owning teams, a rule that it no longer allows other than the Toronto Blue Jays, owned by Rogers Communications (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RCI#NYSE">RCI</a>), who are grandfathered in.
Previously, other MLB teams had corporate owners, which included:
<ul>
<li>St. Louis Cardinals: Anheuser-Busch</li>
<li>Chicago Cubs: Tribune Company</li>
<li>New York Yankees: CBS</li>
<li>Seattle Mariners: Nintendo</li>
<li>Los Angeles Angels: Disney</li>
</ul>
Private equity companies can own minority stakes in MLB teams but can't own a team outright. MLB has allowed private equity investments for years, while the NFL is just now<a href="https://www.benzinga.com/general/sports/24/08/40607642/jeff-bezos-could-have-competition-if-he-wants-the-nfls-seattle-seahawks-private-equity-investments"> coming around to the practice</a> to help improve investment opportunities for team owners.
The Twins are valued at $1.7 billion by <a href="https://www.sportico.com/feature/mlb-team-values-rankings-list-1234715821/">Sportico</a>, ranking 19th of 30 MLB teams. Here are the most recent MLB team sales:
<ul>
<li>2024: Baltimore Orioles, $1.725 billion</li>
<li>2020: New York Mets, $2.42 billion</li>
<li>2019: Kansas City Royals, $1 billion</li>
<li>2017: Miami Marlins, $1.2 billion</li>
<li>2016: Seattle Mariners, $1.4 billion</li>
<li>2012: Los Angeles Dodgers, $2.15 billion</li>
</ul>
The Washington Nationals and Los Angeles Angels hired bankers for potential sales but did not end up selling the teams.
The low number of recent sales could put the Twins in demand with sports ownership often viewed as a strong investment opportunity.
This could be great news for the Atlanta Braves, which are valued at $3.4 billion, ranking sixth by Sportico.
The Braves holding company, which is publicly traded, has a market capitalization of $2.5 billion and enterprise value of $3.1 billion. While the team already trades under the Sportico valuation, the sale of the Twins at a premium to the valuation, it could see other MLB teams rise in the rankings.
Buffett owns a small stake (233,645 shares) in the publicly traded Braves via Berkshire Hathaway (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>)(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) and has a love for the game of baseball. The billionaire previously owned a stake in a minor league baseball team and had interest in buying the Chicago Cubs.
BATRA Price Action: Atlanta Braves Holdings stock closed Thursday at $41.57 versus a 52-week trading range of $36.78 to $46.65. The stock is down 1.1% year-to-date in 2024.
Read Next: 
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<li><a href="https://www.benzinga.com/general/sports-betting/24/04/38022637/atlanta-braves-stock-could-be-undervalued-based-on-mlb-team-valuations-did-warren-buffett-">Atlanta Braves Stock Could Be Undervalued Based On MLB Team Valuations, Did Warren Buffett Spot Another Value Stock?</a></li>
</ul>
Photos: Shutterstock

Sports

Trading Ideas

BATRA

BATRK

Warren Buffett Home Run? Billionaire's Baseball Bet Could Rise In Value With Minnesota Twins Sale

Sacramento is exploring the possibility of allowing on-site cannabis consumption at dispensaries through a new pilot program. 
If approved, this <a href="https://sacramento.granicus.com/MetaViewer.php?view_id=25&amp;clip_id=6047&amp;meta_id=795533">pilot program</a> would introduce consumption lounges, giving residents a safe and social space to enjoy cannabis legally in the capital city of California.
<h3 class="wp-block-heading">Consumption Lounge</h3>
The proposal, led by Councilmember Katie Valenzuela, would allow two types of cannabis lounges. 
The first would focus on the sale and consumption of cannabis-infused edibles and drinks, providing a more discreet option for those looking to avoid smoking.
The second would permit smoking on site with strict safety measures in place. Valenzuela has championed this initiative for two years, contending it would create a controlled environment for cannabis users to learn and engage with the product safely. "If you have kids at home, you can keep it completely away from them. It never comes into the house," she said in an <a href="https://www.abc10.com/article/news/local/sacramento-cannabis-lounges/103-cab4aee7-b84f-412b-a5c7-869e3b6c693d">interview</a> with ABC10.
<ul>
<li>Get Benzinga&#8217;s exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter&nbsp;<a href="https://newsletteremail.benzinga.com/subscribe" target="_blank" rel="noreferrer noopener">here</a>. If you&#8217;re serious about the business, you can&#8217;t afford to miss out.</li>
</ul>
<h3 class="wp-block-heading">Positive Signs From Previous Trials</h3>
Sacramento has already tested the concept of on-site consumption at the <a href="https://www.benzinga.com/markets/cannabis/24/07/39782466/californias-first-cannabis-friendly-state-fair-with-on-site-sales-and-consumption">State Fair </a>earlier this year.
The event allowed cannabis users to consume in a designated area, providing a glimpse of what future consumption lounges could look like.
Valenzuela says these lounges could position Sacramento as a leader in cannabis culture in the region.
"There were dozens and dozens of people there from all walks of life mingling and hanging&#8230;I could just get a picture of what this experience looked like," she said.
Maisha Bahati, CEO of Crystal Nugs, is among those preparing for the potential legalization of on-site consumption. Her dispensary already has a dedicated space for social events, from live music to game nights, once the lounges are approved. "You're going to be around like-minded people…just a normal place where people can come and can consume cannabis," she <a href="https://www.abc10.com/article/news/local/sacramento-cannabis-lounges/103-cab4aee7-b84f-412b-a5c7-869e3b6c693d">told</a> ABC10.
Two more hearings will take place before the proposal moves forward. A final vote is expected by the end of October.
Read Next: <a href="https://www.benzinga.com/markets/cannabis/24/09/41012794/gov-newsoms-hemp-ban-goes-into-effect-consequences-for-industry-investors-patients">Gov. Newsom&#8217;s Hemp Ban Goes Into Effect: Consequences For Industry, Investors, Patients</a>
<h3 class="wp-block-heading">Shifting Califonia Cannabis Landscape</h3>
California's recent&nbsp;initiatives regarding cannabis include <a href="https://www.benzinga.com/markets/cannabis/24/08/40666298/will-california-embrace-cannabis-farmers-markets-and-pot-cafes-gov-newsoms-crucial-decision-ahea">farmer&#8217;s markets</a> and <a>Amsterdam-style&nbsp;cannabis&nbsp;cafes</a>. These proposals aim to alleviate the challenges facing the state&#8217;s cannabis industry.
High taxes, low prices and competition from unlicensed markets have pressured legal businesses into a downturn. In response, lawmakers are exploring solutions to stabilize the sector. Allowing small growers to sell directly and creating social consumption spaces are two possible steps.
Meanwhile, some companies have been <a href="https://www.benzinga.com/markets/cannabis/24/08/40465710/why-are-so-many-california-cannabis-companies-switching-to-hemp-products">shifting to hemp</a> to avoid heavy regulatory burdens. However, Governor Gavin Newsom recently <a href="https://www.benzinga.com/markets/cannabis/24/09/41012794/gov-newsoms-hemp-ban-goes-into-effect-consequences-for-industry-investors-patients">ruled out </a>most hemp products and manufacturing in the state after imposing an emergency ban for which he is facing <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">legal resistance</a> from industry stakeholders.
<ul>
<li>Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/09/40819034/gov-newsom-is-mulling-over-whether-to-approve-amsterdam-style-cannabis-cafes-in-california">Gov. Newsom Is Mulling Over Whether To Approve Amsterdam-Style Cannabis Cafes In California</a></li>
</ul>

Unwinding Among Friends In A Cannabis Lounge Could Soon Be Reality In Sacramento

AMLI

American Lithium Says Taken Proactive Steps, Including Cost-cutting Measures,  To Adapt To Evolving Market Conditions

PROC

Procaps Group Says Independent Investigation Has Identified Certain Historical Transactions, To Restate Financial Statements, Plans Long-term Restructuring Plan

Vertiv Hldgs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VRT#NYSE">VRT</a>) has outperformed the market over the past 5 years by 46.06% on an annualized basis producing an average annual return of 60.09%. Currently, Vertiv Hldgs has a market capitalization of $40.30 billion. 
Buying $100 In VRT: If an investor had bought $100 of VRT stock 5 years ago, it would be worth $1,050.54 today based on a price of $107.43 for VRT at the time of writing.
<h3>Vertiv Hldgs's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1728595824_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

$100 Invested In This Stock 5 Years Ago Would Be Worth $1,100 Today

L3Harris Technologies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LHX#NYSE">LHX</a>) has outperformed the market over the past 15 years by 1.04% on an annualized basis producing an average annual return of 12.78%. Currently, L3Harris Technologies has a market capitalization of $45.98 billion. 
Buying $1000 In LHX: If an investor had bought $1000 of LHX stock 15 years ago, it would be worth $6,511.28 today based on a price of $242.35 for LHX at the time of writing.
<h3>L3Harris Technologies's Performance Over Last 15 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1728595820_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

$1000 Invested In This Stock 15 Years Ago Would Be Worth $6,500 Today

Advanced Micro Devices, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) shares traded lower Thursday as the company hosted its <a href="https://www.benzinga.com/pressreleases/24/10/g41278525/amd-unveils-leadership-ai-solutions-at-advancing-ai-2024">"Advancing AI 2024" event.&nbsp;</a>
The Details: AMD launched several new high-performance computing solutions at the event, including fifth Gen AMD EPYC server CPUs, AMD Instinct MI325X accelerators, AMD Pensando Salina DPUs, AMD Pensando Pollara 400 NICs and AMD Ryzen AI PRO 300 series processors for enterprise AI PCs.&nbsp;
Read Next: <a href="https://www.benzinga.com/news/24/10/41277250/whats-going-on-with-first-solar-stock">What&#8217;s Going On With First Solar Stock?</a>
&#8220;The data center and AI represent significant growth opportunities for AMD, and we are building strong momentum for our EPYC and AMD Instinct processors across a growing set of customers,&#8221; said AMD Chair and CEO Dr. Lisa Su.&nbsp;
&#8220;With our new EPYC CPUs, AMD Instinct GPUs and Pensando DPUs we are delivering leadership compute to power our customers&#8217; most important and demanding workloads. Looking ahead, we see the data center AI accelerator market growing to $500 billion by 2028," added Su.&nbsp;
Several partners, including Dell, Google Cloud, HPE, Meta, Microsoft and Super Micro, showcased how they deploy AMD's AI solutions at scale. Microsoft CEO Satya Nadella pointed to the company's long-standing collaboration with AMD across its product offerings and Google highlighted how AMD EPYC processors power a wide range of instances for AI, high performance and general purpose and confidential computing. 
According to data from <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, AMD shares moved on heavy volume during Thursday's event and are trading above the stock's 50-day moving average of $149.92.&nbsp;
<h1 class="wp-block-heading">Will AMD Stock Go Up?</h1>
When trying to assess whether or not Advanced Micro Devices will trade higher from current levels, it's a good idea to take a look at analyst forecasts. 
Wall Street analysts have an average 12-month price target of $191.19 on Advanced Micro Devices. The Street high target is currently at $250 and the Street low target is $156. Of all the analysts covering Advanced Micro Devices, 14 have positive ratings, two have neutral ratings and no one has a negative rating.
In the last month, three analysts have adjusted price targets. Here's a look at recent price target changes <a href="https://www.benzinga.com/quote/AMD/analyst-ratings">[Analyst Ratings]</a>. Benzinga also tracks Wall Street's most accurate analysts. Check out how analysts covering Advanced Micro Devices have performed in recent history.
Stocks don't move in a straight line. The average stock market return is approximately 10% per year. Advanced Micro Devices is 18.47% up year-to-date. The average analyst price target suggests the stock could have further upside ahead.
For a broad overview of everything you need to know about Advanced Micro Devices, visit <a href="https://www.benzinga.com/quote/AMD">here</a>. If you want to go above and beyond, there's no better tool to help you do just that than <a href="https://pro.benzinga.com/">Benzinga Pro</a>. Start your free trial today.
AMD Price Action: According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, AMD shares ended Thursday's session 4% lower at $164.18.&nbsp;
Read Also:
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<li><a href="https://www.benzinga.com/news/24/10/41261919/what-happened-with-celsius-holdings-stock-today">What Happened With Celsius Holdings Stock Today?</a></li>
</ul>
Photo: Shutterstock&nbsp;

Movers

Tech

What Happened With AMD Stock Today?

RIV Capital Inc. (CSE:<a class="ticker" href="https://www.benzinga.com/stock/RIV#CSE">RIV</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CNPOF#OTC">CNPOF</a>) and Cansortium Inc. (CSE:<a class="ticker" href="https://www.benzinga.com/stock/TIUM#CSE">TIUM</a>) (OTCQB:<a class="ticker" href="https://www.benzinga.com/stock/CNTMF#OTCQB">CNTMF</a>) have secured approval from the New York Cannabis Control Board for their upcoming merger, marking a major consolidation in the state's fast-growing cannabis industry. 
The merger, expected to close by the end of 2024, positions the combined company to take full advantage of<a href="https://www.benzinga.com/markets/cannabis/24/05/39094250/this-cannabis-merger-will-cover-25-of-u-s-population-cansortium-riv-capital-powered-by-scottsmir"> covering 25% of the U.S. population</a> with eight cultivation and processing facilities and 42 retail dispensaries.
&#8220;We are thrilled to have received regulatory approval in New York to move forward with our business combination transaction, bringing us closer to completing this important step for both of our companies in the fourth quarter of 2024,&#8221; said Robert Beasley, CEO of Cansortium, in a press release Thursday afternoon.
<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 York's Cannabis Boom</h3>
With adult-use cannabis sales now in full swing, New York has quickly become a battleground for companies looking to expand their market share. RIV Capital, which operates three retail locations in the state, has seen rapid growth in both its consumer-facing and wholesale businesses since adult-use sales began earlier this year.
Cansortium, a vertically integrated company operating under the FLUENT&#x2122; brand, brings significant expertise from other key markets, including<a href="https://www.benzinga.com/topic/florida-cannabis"> Florida</a>, Pennsylvania, and<a href="https://www.benzinga.com/topic/texas-cannabis"> Texas</a>. 
Read Also:<a href="https://www.benzinga.com/markets/cannabis/24/10/41277104/exclusive-80-growth-despite-the-chaos-how-dutchie-c3-defy-2024s-cannabis-slump"> EXCLUSIVE: 80% Growth Despite The Chaos: How Dutchie, C3 Defy 2024&#8217;s Cannabis Slump</a>
<h3 class="wp-block-heading">What This Means For Investors</h3>
For cannabis investors, this <a href="https://www.newswire.ca/news-releases/riv-capital-and-cansortium-receive-new-york-state-cannabis-control-board-approval-for-change-of-control-851372999.html">merger</a> signals a unique opportunity to gain exposure to a rapidly expanding market. RIV Capital's partnership with The Hawthorne Collective, a subsidiary of ScottsMiracle-Gro (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMG#NYSE">SMG</a>), further strengthens its position in the cannabis supply chain. Meanwhile, Cansortium's operational expertise in cultivation, production and retail will likely drive significant value for shareholders.
<h3 class="wp-block-heading">Closing Timeline And Further Details</h3>
<ul>
<li>The merger between RIV Capital and Cansortium is expected to close by the fourth quarter of 2024, pending final closing conditions. </li>
<li>Upon completion, Cansortium&#8217;s shares will continue trading on the Canadian Securities Exchange under the symbol &#8216;TIUM.U&#8217; and on the OTCQB Venture Market under &#8216;CNTMF.&#8217; </li>
<li>Further details, including the principal closing conditions, can be found in RIV Capital&#8217;s management information circular dated July 12, 2024.</li>
</ul>
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The dividend will be paid on Nov. 15, 2024 to shareholders of record on Oct. 31, 2024. The Company&#39;s indicated annual dividend rate is&nbsp;$1.96&nbsp;per share.

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Northwest Natural Holding Increases Quarterly Dividend From $0.4875 To $0.49 Per Share

Jet.AI Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JTAI#NASDAQ">JTAI</a>) shares fell Thursday after the company announced it entered into an agreement with certain institutional investors to purchase approximately 26.6 million shares of common stock in a <a href="https://www.benzinga.com/pressreleases/24/10/g41279369/jet-ai-announces-pricing-of-2-4-million-registered-direct-offering">registered direct offering. </a>
The Details: Jet.AI announced the pricing of the offering will be nine cents per share with gross proceeds of approximately $2.4 million to the company before deducting the estimated offering expenses. The offering is expected to close on or about Oct. 11. 
Read Next: <a href="https://www.benzinga.com/fintech/24/10/41234302/whats-going-on-with-sofi-stock">What&#8217;s Going On With SoFi Stock?</a>
Jet.AI shares reached an intraday high of 25 cents before reversing in afternoon trading when the direct offering was announced. The stock moved lower on heavy trading volume with more than 805 million shares traded in Thursday's session, according to data from <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>. 
<h1 class="wp-block-heading">How To Buy JTAI Stock</h1>
Besides going to a brokerage platform to purchase a share — or fractional share — of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.
For example, in Jet AI's case, it is in the Industrials sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.
JTAI Price Action: According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, Jet.AI shares are up 8.57% after-hours at 8 cents after falling 11.77% in regular trading Thursday.  
Read Also:
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<li><a href="https://www.benzinga.com/news/24/10/41261919/what-happened-with-celsius-holdings-stock-today">What Happened With Celsius Holdings Stock Today?</a></li>
</ul>
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What Happened With Jet.AI Stock Today?

The&nbsp;dividend is payable on&nbsp;November 27, 2024&nbsp;to shareholders of record at the close of business on&nbsp;November 13, 2024.

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