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WiMi Hologram Cloud Inc and its subsidiaries offer augmented reality (AR) based holographic services and products to cater to its customers. Its AR service and product offerings primarily consist of holographic AR advertising services and holographic AR entertainment products. It is also into the semiconductor business, in which the company provides central processing algorithm services and computer chip products to enterprise customers and the sales of comprehensive solutions for central processing algorithms and related services with software and hardware integration. The company reports in three segments: AR advertising, AR entertainment, and Semiconductor. Its geographical segments are Mainland China, Hong Kong, and International.

WiMi Hologram Cloud Inc. - American Depositary Share

WiMi Hologram Cloud Inc

Speaking at the Benzinga Cannabis Market Spotlight in Anaheim this week, Kyle Kazan, CEO of Glass House Brands (OTC:<a class="ticker" href="https://www.benzinga.com/stock/GLASF#OTC">GLASF</a>), delivered a candid assessment of California&#8217;s <a href="http://benzinga.com/topic/california-cannabis">cannabis industry</a> and shared his strategic outlook on federal cannabis policy. 
Kazan, <a href="https://www.benzinga.com/markets/cannabis/24/07/40024424/ex-police-officer-turned-cannabis-ceo-calls-for-federal-marijuana-de-scheduling-in-letter-to-har">a prominent voice in the industry</a>, emphasized the importance of collaboration among cannabis businesses and offered a hopeful yet pragmatic take on the potential shifts in cannabis regulation at both the state and federal levels.
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
<div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="Joe Rogan, Elon Musk, RFK Jr.: The Pro-Cannabis Voices Shaping Trump's Policies – Glass House CEO" width="500" height="281" src="https://www.youtube.com/embed/XsbUY-UnVOM?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div>
<figcaption class="wp-element-caption">Kyle Kazan, CEO of Glass House Brands, at the Benzinga Cannabis Market Spotlight in Anaheim, California</figcaption></figure>
Read Also: <a href="https://www.benzinga.com/news/earnings/24/11/41981887/california-weed-co-led-by-former-la-cop-reports-32-yoy-q3-revenue-growth">California Weed Co. Led By Former LA Cop Reports 32% YoY Q3 Revenue Growth</a> 
<h3 class="wp-block-heading">California: The Toughest Market In Cannabis</h3>
"If you can make it in California, you can make it anywhere," Kazan said, underscoring the unique challenges posed by California's <a href="https://www.benzinga.com/markets/cannabis/24/10/41547103/new-rules-old-challenges-californias-cannabis-industry-grapples-with-regulations">regulatory environment</a> and market dynamics. He pointed to the difficulty of succeeding in the state's <a href="https://www.benzinga.com/news/events/24/11/41886925/california-cannabis-industry-titans-headline-benzingas-anaheim-event-tues-nov-12">fiercely competitive market</a> and highlighted the resilience required for businesses to thrive.
<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">A Call For Industry Unity Amid Policy Challenges</h3>
Despite the competitive nature of the industry, Kazan urged stakeholders to set aside differences and collaborate on advancing policy reforms. He highlighted missed opportunities in the past and warned of tougher market conditions if the sector does not unify.
"Let's find that Venn diagram where we can work together to move better policy forward in this state and also federally," Kazan said.
<h3 class="wp-block-heading">Navigating Election Aftermath: Optimism Amid Uncertainty</h3>
Addressing the implications of the recent election, Kazan struck a balanced tone, acknowledging the emotional landscape while emphasizing a strategic approach. He noted that Glass House Brands has maintained bipartisan engagement, making inroads with both Kamala Harris and Donald Trump's campaigns.&nbsp;
However, he expressed optimism about potential reform, referencing <a href="https://www.benzinga.com/markets/cannabis/24/01/36788077/trumps-support-bidens-los-angeles-weldon-angelos-weed-">Trump's pardons</a> of Weldon Angelos and Harry O as promising indicators of his stance on cannabis.
Kazan also pointed to President-elect Trump's support for states&#8217; rights and his <a href="https://www.benzinga.com/markets/cannabis/24/08/40666944/donald-trump-supports-cannabis-legalization-in-florida-game-changer-and-huge-blow-to-ron-desanti">endorsement of Florida's cannabis amendment</a> as positive signals. "We've been assured that's his stance on cannabis. He came out publicly for Amendment 3 in Florida. Why would he not do that for the other 49 states?"
<h3 class="wp-block-heading">Investor Concerns And Future Outlook For Cannabis</h3>
While Kazan acknowledged the uncertainty that investors face given the <a href="https://www.benzinga.com/markets/cannabis/24/09/40846480/cannabis-experts-say-weed-reform-is-a-race-against-time-is-the-dea-delaying-bidens-rescheduling-">unclear regulatory path ahead</a>, he remained upbeat about the long-term prospects. He cited the growing influence of pro-cannabis voices in Trump's inner circle, including figures like Elon Musk, Joe Rogan, <a href="https://www.benzinga.com/news/legal/24/11/41994550/trumps-national-intelligence-pick-is-cannabis-advocate-tulsi-gabbard-critics-say-former-congresswoman-parrots-russia-propaganda">Tulsi Gabbard </a>and <a href="https://www.benzinga.com/markets/cannabis/24/11/41828359/could-trumps-go-wild-on-health-invite-to-rfk-jr-drive-changes-for-cannabis-and-psychedelics">Robert F. Kennedy Jr.</a> as reasons for optimism. 
"Until the cabinet is named and things happen, there's concern, but I'm very positive," Kazan concluded, noting that the overall trajectory remains promising for the industry.
The Benzinga Cannabis Market Spotlight in Anaheim brought together industry leaders to discuss trends, investment strategies, and the future of cannabis in California's evolving landscape.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/legal/24/11/41994550/trumps-national-intelligence-pick-is-cannabis-advocate-tulsi-gabbard-critics-say-former-congresswoman-parrots-russia-propaganda">Trump&#8217;s National Intelligence Pick Is Cannabis Advocate Tulsi Gabbard: Critics Say Former Congresswoman Parrots Russia Propaganda</a></li>
</ul>

Cannabis

Events

Interview

GLASF

Glass House CEO Calls For Unity In California Cannabis Market, Optimistic About Federal Reform

The Joe Rogan Experience or JRE premiered exclusively on Spotify Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>) in Sept. 2020 as part of a <a href="https://www.benzinga.com/news/22/02/25708354/joe-rogans-deal-with-spotify-worth-at-least-double-of-what-was-previously-reported-nyt">multi-year deal</a> reportedly valued at $200 million. This deal wasn&#8217;t just big news for podcasting fans—it was a major moment for investors, too.
Rogan&#8217;s Impact On Spotify&#8217;s Growth
Spotify's exclusive deal with Rogan was a bet that paid off in multiple ways. Since the partnership, podcast consumption on the platform skyrocketed by 232%, according to the company.
Advertisers took notice, fueling a 2023 revenue increase of 80% since 2021. Rogan's show, consistently the world's most-streamed podcast, played a major role in turning Spotify into a podcasting giant.
Rogan&#8217;s podcast also held the top spot on <a href="https://www.benzinga.com/general/entertainment/23/11/36004998/joe-rogan-tops-spotifys-2023-podcasts-list-once-again-deal-likely-to-expire-in-2024-a-major">Spotify&#8217;s podcast chart</a> for the fourth year in a row in 2023.
See Also: <a href="https://www.benzinga.com/general/entertainment/24/11/41959787/tradepulse-power-inflow-alert-spotify-technology-s-a-climbs-over-5-after-tradepulse-alert">Tradepulse Power Inflow Alert: Spotify Technology S.A. Climbs Over 5% After Tradepulse Alert</a>
How $1,000 Invested In Spotify Has Grown
If you had invested $1,000 in Spotify stock on Sept. 1, 2020 — the day Rogan's show debuted exclusively on the platform — that investment would now be worth approximately $1,696.
This represents a solid return of 69.7%, outpacing the broader market indexes. For context, the S&amp;P 500 rose 68.7%, and the Nasdaq Composite gained 60% over the same period.
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="626" height="450" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/14191145/newplot-4-1.png" alt="" class="wp-image-649260" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/14191145/newplot-4-1.png 626w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/14191145/newplot-4-1-300x216.png 300w" sizes="(max-width: 626px) 100vw, 626px" /><figcaption class="wp-element-caption">Value of a $1,000 investment in Spotify stock, versus the S&amp;P 500 and Nasdaq, respectively, from Sept. 1, 2020, to Nov. 14, 2024.</figcaption></figure>
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="650" height="450" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/14191325/newplot-8.jpeg" alt="" class="wp-image-649262" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/14191325/newplot-8.jpeg 650w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/14191325/newplot-8-300x208.jpeg 300w" sizes="(max-width: 650px) 100vw, 650px" /><figcaption class="wp-element-caption">SPOT&#8217;s price trajectory since JRE debuted on the platform</figcaption></figure>
A New Chapter For JRE And Spotify
Earlier this year, Spotify renewed its partnership with Rogan, but the show will <a href="https://www.benzinga.com/markets/equities/24/02/36914209/spotify-inks-multiyear-deal-with-podcast-king-joe-rogan-amid-shifting-strategy">no longer be exclusive</a> to the platform, expanding to Apple, Amazon, and Google&#8217;s YouTube.
Earlier this month, Spotify released its <a href="https://www.benzinga.com/general/entertainment/24/11/41920955/spotify-stock-climbs-despite-q3-eps-revenue-misses">third-quarter financial results</a> reporting earnings of $1.46 per share, which fell short of the analyst consensus of $1.76.
Quarterly revenue came in at $3.99 billion, missing the expected $4.02 billion but reflecting an increase from $3.65 billion in the same quarter last year.
SPOT Price Action: Spotify shares ended Thursday&#8217;s session up 2.17%, closing at $477.50. In after-hours trading, however, the stock dipped slightly, settling at $476 as of the latest update, according to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/24/11/41941113/these-analysts-increase-their-forecasts-on-spotify-following-q3-earnings">These Analysts Increase Their Forecasts On Spotify Following Q3 Earnings</a></li>
</ul>
Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.

News

Markets

Tech

SPOT

If You Dropped $1,000 On Spotify When Joe Rogan's Show Became An Exclusive, Here's How Much You'd Have Today

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

TKLF

Tilray Medical, a division of Tilray Brands (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLRY#NASDAQ">TLRY</a>), <a href="https://www.globenewswire.com/en/news-release/2024/11/14/2981031/0/en/Tilray-Medical-Launches-its-First-Commercial-Grown-in-Germany-Medical-Cannabis-Products-Under-its-Newly-Expanded-Cultivation-License.html">announced</a> the launch of its first commercial <a href="https://www.benzinga.com/topic/germany-cannabis">medical cannabis</a> products cultivated in <a href="https://www.benzinga.com/topic/germany-cannabis">Germany</a>. 
The debut comes from its Aphria RX facility, marking a milestone under the country's recently updated cultivation regulations, MedCanG. 
<h3 class="wp-block-heading">New Cultivation License Drives Local Production</h3>
Tilray was the first company to secure the new cannabis cultivation license under MedCanG in July 2024. 
This regulatory shift allows Aphria RX to grow and manufacture a variety of popular medical cannabis strains that were previously imported. 
The indoor-grown products are expected to offer consistent quality tailored to German patients&#8217; preferences:
"Our Made in Germany premium cannabis products represent a significant step forward in delivering high-quality medical cannabis to patients," said Denise Faltischek, Tilray's chief strategy officer. "This achievement strengthens our position as a leader in cultivation, production, and distribution, while demonstrating our commitment to the German medical cannabis community."
Read Also: <a href="https://www.benzinga.com/government/regulations/24/11/41885393/germanys-govt-coalition-crisis-is-cannabis-reform-at-risk">Germany&#8217;s Govt. Coalition Crisis, Is Cannabis Reform At Risk?</a>
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>. If you're serious about the business, you can't afford to miss out.
<h3 class="wp-block-heading">Medical Cannabis Market Shows Strong Growth</h3>
Germany's medical cannabis market is rapidly expanding, driven by increased patient adoption that came after cannabis was re-listed as a<a href="https://www.benzinga.com/government/regulations/24/11/41885393/germanys-govt-coalition-crisis-is-cannabis-reform-at-risk"> non narcotic</a> substance. 
Companies like <a href="https://www.benzinga.com/markets/cannabis/24/09/40783859/european-cannabis-producer-cantourage-reports-62-revenue-increase-projects-positive-ebitda">Cantourage</a> Group Sell, <a href="https://www.benzinga.com/markets/cannabis/24/06/39277081/german-company-launches-largest-digital-platform-for-medical-cannabis-in-all-europe">Bloomwell</a> and <a href="https://www.benzinga.com/government/regulations/24/11/41884236/exclusive-persistence-pays-off-for-only-cannabis-distributor-in-bavarias-developing-market">Drapalin</a> have reported record revenue, with projections suggesting continued robust growth. 
The shift toward local cultivation by companies like Tilray reflects the broader industry trend of securing supply chains, since most cannabis in Germany is <a href="https://www.benzinga.com/markets/cannabis/24/08/40369868/medical-marijuana-imports-in-germany-increase-51-yoy-following-reform-cannabis-clubs-still-face-">imported</a>, mainly from Canada. 
Medical cannabis, however, continues to gain traction, with sales projected to reach <a href="https://www.benzinga.com/markets/cannabis/24/09/40783859/european-cannabis-producer-cantourage-reports-62-revenue-increase-projects-positive-ebitda">$1.09 billion</a> by 2028. Recent regulatory changes have streamlined access, treating medical cannabis similarly to over-the-counter medications like ibuprofen. 
While Germany has taken steps toward partial cannabis legalization, full-scale recreational sales <a href="https://www.benzinga.com/government/regulations/24/11/41885393/germanys-govt-coalition-crisis-is-cannabis-reform-at-risk">remain on hold</a>. 
<ul>
<li>Read Next: <a href="https://www.benzinga.com/government/regulations/24/11/41884236/exclusive-persistence-pays-off-for-only-cannabis-distributor-in-bavarias-developing-market">EXCLUSIVE: Persistence Pays Off For Only Cannabis Distributor In Bavaria&#8217;s Developing Market</a></li>
</ul>
Cover: AI generated image

Eurozone

TLRY

Tilray Joins German Cannabis Fiesta With First Locally Grown Strains

Third Point, a hedge fund, filed its <a href="https://www.sec.gov/Archives/edgar/data/1656456/000165645624000004/xslForm13F_X02/Form13FInfoTable.xml">Form 13F</a> on Thursday, revealing the fund's trades from the prior quarter. Here's a look at Third Point's most <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41397978/hedge-fund-billionaire-daniel-loeb-bets-on-trump-win-singles-out-this-recent-buy-as">significant recent trades. </a>
New Positions: Third Point opened a total of nine positions during the quarter. The most notable are below.&nbsp;
<ul>
<li>Third Point added a stake in Brookfield Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BN#NYSE">BN</a>) with 4.725 million shares valued at $251.1 million, according to data from Whalewisdom. </li>
<li>The fund opened a position in Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) with 400,000 shares. </li>
<li>Third Point opened a position in CVS Health Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVS#NYSE">CVS</a>) with 1,575,000 shares. </li>
</ul>
Read More: <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 Insiders Sell More Than $16 Million In DJT Stock</a>
Closed Positions: The hedge fund closed out 11 positions with the most notable being American International Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AIG#NYSE">AIG</a>), Verizon Communications Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VZ#NYSE">VZ</a>) and its entire stake in Micron Technology, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>). 
Notable Trades: Third Point added 1,085,000 shares to its stake in Intercontinental Exchange Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ICE#NYSE">ICE</a>), bringing its current position to 2,085,000 shares valued at $334.9 million, according to Whalewisdom. The fund reduced its stake in Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) by 1,400,000 shares with 3,700,000 shares still held. 
Third Point also sold 555,000 Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) shares, more than half its stake in the company, but still holds 545,000 Meta shares valued at approximately $311.9 million, according to Whalewisdom.
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/trading-ideas/movers/24/11/41949068/bitcoin-could-reach-1-million-by-2037-economist-says-buy-of-a-lifetime-opportunity">Bitcoin Could Reach $1 Million By 2037, Economist Says: &#8216;Buy Of A Lifetime&#8217; Opportunity</a></li>
</ul>
Photo: Shutterstock

Hedge Funds

Movers

AMZN

TSLA

Third Point Hedge Fund Buys Tesla, Dumps Micron

In a market marked by mergers, acquisitions and growing consolidation, Garden Greens is not following the typical playbook. While large operators focus on the CPG model of uniformity and constant supply, Garden Greens takes a more adaptable approach by understanding demand cycles and responding creatively to consumer preferences.
As the industry undergoes massive consolidation, with big companies scooping up smaller players, Garden Greens stands out by keeping its product offerings fresh and exclusive. Rather than sticking to a fixed lineup, they frequently discontinue strains to build hype and create new demand.
In a time when the market favors the largest players, Garden Greens proves that a street-smart, flexible approach can help small and medium cannabis companies thrive.
Josh Krane, general manager at Garden Greens, brings a wealth of experience to the operation. With his roots in the hash-making business in Los Angeles, Krane has a deep understanding of the cannabis culture that many corporate operators lack. "You have to strip away all ego," he shared with Benzinga Cannabis, "and learn everything from the ground up."
<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">Beyond Standardization&nbsp;</h3>
Garden Greens operates under the principle that diversity and creativity are key to creating real demand. Krane's strategy is clear: "We're not just trying to scale. We're trying to build something<a href="https://www.benzinga.com/topic/cannabis-marketing"> consumers want</a>—something they've never had before."
At Garden Greens, running out of a strain isn&#8217;t a failure, it&#8217;s an opportunity to create excitement and engage consumers in a conversation. "We purposely let some strains go out of stock. We get more data from a strain being out of stock and consumers asking for it than from always having it available." 
Read Also:<a href="https://www.benzinga.com/markets/cannabis/24/11/41831831/no-middleman-no-markup-how-red-mesa-is-slashing-costs-with-around-the-clock-hemp-refinement"> No Middleman, No Markup: How Red Mesa Is Slashing Costs With Around-The-Clock Hemp Refinement</a>
<h3 class="wp-block-heading">The Power Of Genetics For Consumer Engagement&nbsp;</h3>
"We've released about 46 strains, and we deliberately let some go out of stock to build anticipation for new drops," says Krane.
The company runs nine flowering rooms and operates on a perpetual harvest cycle, allowing them to rotate and test new strains while ensuring consistent, high-quality output. &#8220;We're in perpetual harvest. We run about a nine-week flowering cycle. Every week, I have one room being harvested and then reset and replanted."
This perpetual harvest cycle ensures a steady supply of products while keeping the operation fluid and adaptable.
<a href="https://ggcann.com/">Garden Greens' flowering rooms</a> are designed for multi-cropping. At optimal capacity, they can handle up to four strains at a time. The company's strategy is to start with strains that have proven successful in other markets, strains they enjoy growing and smoking, and that will deliver predictable yields and potency.&nbsp;
Throughout a nine-week cycle, up to 36 strains can be tested and rotated through. Krane goes on to explain the rotation process: "We start layering those strains in, four at a time, a week at a time." Initially, they cycle in a set of 18 strains before introducing new ones for testing and evaluation.&nbsp;The company currently rotates major groups of genetics, all selected based on their similar growing needs. 
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/11/41828889/exclusive-surviving-chavezs-venezuela-to-cbd-crash-ceo-reveals-how-to-profit-in-a-market-stuck-o">EXCLUSIVE: From Surviving Chavez&#8217;s Venezuela To The CBD Crash &#8211; CEO Reveals How To Profit In A Market Stuck On Repeat</a>
<h3 class="wp-block-heading">Fashion, Not CPG</h3>
Garden Greens has adopted a &#8220;fashion drop&#8221; mentality rather than trying to mirror<a href="https://www.benzinga.com/markets/cannabis/23/06/33061096/turnaround-potential-amazon-nestl-and-p-g-who-will-revive-dying-cannabis-brands"> CPG businesses</a> that focus on <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/06/39469809/cannabis-vs-coca-cola-and-marlboro-marijuana-market-growth-outpaces-alcohol-tobacco">mass production</a> and brand consistency. The company builds anticipation before each <a href="https://www.benzinga.com/topic/cannabis-branding">new strain hits the market</a> by creating a sense of scarcity and exclusivity. "It's like a sneaker drop. We build up excitement for a product, and once it's gone, it's gone. We've built that by offering something they can't find anywhere else," Krane says.
<h3 class="wp-block-heading">Cash Flow Positive&nbsp;&nbsp;</h3>
The company relies on debt financing, with plans to repay investors within 24 months and switch to quarterly dividends afterward. "We've been able to stay cash flow positive and meet our financial goals while maintaining authenticity. We prioritize quality and innovation over cost-cutting measures that might please investors but compromise the product." 
Garden Greens' financial success stems from a combination of <a href="https://www.benzinga.com/markets/cannabis/24/09/40886620/how-this-former-dea-consultant-is-making-craft-cannabis-profitable-in-new-jersey-a-dirt-y-little">experienced workers and operational management </a>rolled with a smart approach to capital deployment. Krane and his team initially focused on infrastructure, construction, and culivation systems. 
Read Also:<a href="https://www.benzinga.com/general/biotech/24/10/41394513/sold-out-before-hitting-shelves-why-did-ayr-wellness-snatch-up-this-local-cannabis-brand"> Sold Out Before Hitting Shelves: Why Did AYR Wellness Snatch Up This Local Cannabis Brand?</a>
<h3 class="wp-block-heading">Price Is Right: Craft Cannabis Finds The Sweet Spot For Premium And Value</h3>
Krane's pricing strategy at Garden Greens is all about balance, catering to both high-end connoisseurs and budget-minded buyers. "We offer premium products that can sell for up to $140 per quarter, but we also provide more affordable options with our ‘Pete's Farmstand' line."
This dual-pricing model allows Garden Greens to appeal to a wide range of consumers. Limited-edition premium drops attract top-tier buyers, while the value line ensures accessibility without sacrificing quality.&nbsp;
The approach reflects Krane's deep understanding of the New Jersey market, where underground cannabis still influences price expectations. "I've seen top-shelf cannabis go for $150 or more in the underground scene," Krane notes, highlighting the competitive edge of Garden Greens&#8217; pricing.
Initially, the company aligned its premium prices with <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41725186/with-200-new-dispensaries-and-four-states-voting-on-legalizing-cannabis-could-marke">multi-state operators (MSOs) to match established market expectations</a>. "We chose to match the MSO price points for premium cannabis to remain competitive," Krane says. This strategy positioned Garden Greens to compete head-on while still meeting quality standards.
Read Next: <a href="https://www.benzinga.com/markets/cannabis/24/10/41382006/hemp-thrives-in-texas-shops-near-schools-why-this-company-bet-on-the-countrys-most-regulated-can">Hemp Thrives In Texas Shops Near Schools: Why This Company Bet On The Country&#8217;s Most Regulated Cannabis Market</a>

Biotech

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Selling Weed Is Like A Sneaker Drop: Running Out Isn't A Problem For This Company

Appaloosa Management filed its <a href="https://www.sec.gov/Archives/edgar/data/1656456/000165645624000004/xslForm13F_X02/Form13FInfoTable.xml">Form 13F</a> on Thursday, revealing the fund's trades from the prior quarter. Here's a look at Appaloosa's latest trades. 
New Positions:&nbsp;
<ul>
<li>Appaloosa added a stake in energy company Vistra Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VST#NYSE">VST</a>) with 1,270,388 shares valued at $150.5 million, according to Whalewisdom. </li>
<li>The fund added a stake in NRG Energy, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NRG#NYSE">NRG</a>) with 999,820 shares. </li>
<li>Appaloosa opened a position in Las Vegas Sands Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LVS#NYSE">LVS</a>) with 1,528,323 shares</li>
<li>The hedge fund also opened a position in Wynn Resorts Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WYNN#NYSE">WYNN</a>) with 800,000 shares. </li>
</ul>
Read More: <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 Insiders Sell More Than $16 Million In DJT Stock</a>
Closed Positions: Appaloosa sold all of its 210,000 Boeing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) shares. The fund also closed its entire positions in Macy's Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/M#NYSE">M</a>) and United Parcel Service, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UPS#NYSE">UPS</a>). 
Notable Trades: Appaloosa added 3,361,132 shares of China-based commerce company PDD Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PDD#NASDAQ">PDD</a>), bringing its total stake to 5,301,132 shares valued at $617.4 million, according to Whalewisdom. The fund also added 2,989,400 shares of JD.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JD#NASDAQ">JD</a>) another China-based commerce company. 
Read Next:&nbsp;
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<li><a href="https://www.benzinga.com/trading-ideas/movers/24/11/41949068/bitcoin-could-reach-1-million-by-2037-economist-says-buy-of-a-lifetime-opportunity">Bitcoin Could Reach $1 Million By 2037, Economist Says: &#8216;Buy Of A Lifetime&#8217; Opportunity</a></li>
</ul>
Photo: Panchenko Vladimir on Shutterstock

Citigourp Global Markets 2% Protected Notes Linked To The Djia

WYNN

Appaloosa Hedge Fund Buys Vistra, Sells Boeing

Elliott Investment Management was busy in the third quarter. According to a new <a href="https://www.sec.gov/Archives/edgar/data/1048445/000156761920019906/0001567619-20-019906-index.htm">13-F</a> filing with the SEC, the activist made several portfolio moves, with multiple new positions focused around <a href="https://www.benzinga.com/news/24/10/41417317/southwest-airlines-in-settlement-talks-with-activist-investor-elliott-management-to-avoid-proxy-figh">travel and lodging</a>.
Here are all of Elliott&#8217;s new positions from the third quarter:
<ul>
<li>Utilities Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>)</li>
</ul>
<ul>
<li>Arm Holdings Plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARM#NASDAQ">ARM</a>) call options</li>
</ul>
<ul>
<li>Texas Instruments Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TXN#NASDAQ">TXN</a>) call options</li>
</ul>
<ul>
<li>Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) call options</li>
</ul>
<ul>
<li>Energy Select Sector SPDR Fund Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) call options</li>
</ul>
<ul>
<li>Alaska Air Group Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALK#NYSE">ALK</a>) call options</li>
</ul>
<ul>
<li>American Airlines Group Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAL#NASDAQ">AAL</a>) call options</li>
</ul>
<ul>
<li>ICON Plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ICLR#NASDAQ">ICLR</a>) call options</li>
</ul>
<ul>
<li>IQVIA Holdings Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IQV#NYSE">IQV</a>) call options</li>
</ul>
<ul>
<li>Marriott International (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAR#NASDAQ">MAR</a>) put options</li>
</ul>
<ul>
<li>Hilton Worldwide Holdings Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HLT#NYSE">HLT</a>) put options</li>
</ul>
<ul>
<li>Equinix Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EQX#NASDAQ">EQX</a>) put options</li>
</ul>
<ul>
<li>Hyatt Hotels Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/H#NYSE">H</a>) put options</li>
</ul>
<ul>
<li>Materials Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLB#NYSE">XLB</a>) put options</li>
</ul>

Here&#8217;s a look at all of the positions Elliott increased during the third quarter:
<ul>
<li>Southwest Airlines Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LUV#NYSE">LUV</a>) increased by 919%</li>
</ul>
<ul>
<li>Western Digital Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WDC#NASDAQ">WDC</a>) increased by 90%</li>
</ul>
<ul>
<li>Etsy Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ETSY#NASDAQ">ETSY</a>) increased buy 11%</li>
</ul>
<ul>
<li>Match Group, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MTCH#NASDAQ">MTCH</a>) increased by 3%</li>
</ul>

Here are all of the positions Elliott trimmed during the quarter:
<ul>
<li>BILL Holdings, Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BILL#NYSE">BILL</a>) decreased by 24%</li>
</ul>
<ul>
<li>BlackLine, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BL#NASDAQ">BL</a>) decreased by 20%</li>
</ul>
<ul>
<li>Seadrill Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SDRL#NYSE">SDRL</a>) decreased by 9%</li>
</ul>
<ul>
<li>NRG Energy Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NRG#NYSE">NRG</a>) decreased by 7%</li>
</ul>
The above information does not include call or put options that were increased, trimmed or sold completely during the quarter. 
This information was gathered using comparison tools from <a href="https://13f.info/13f/000101359424000968/compare/000101359424000660">13f.info</a>.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/hedge-funds/24/11/41995340/nelson-peltzs-trian-fund-management-reshaped-portfolio-ahead-of-presidential-election">Nelson Peltz&#8217;s Trian Fund Management Reshaped Portfolio Ahead Of Presidential Election</a></li>
</ul>
Photo: Pixabay.

BILL

ETSY

ICLR

MTCH

SDRL

Elliott Investment Management Adds To Southwest, Western Digital, Etsy, Match Group; Trims BILL Holdings, Seadrill, BlackLine, NRG Energy In Q3

The Massachusetts Cannabis Control Commission issued new recommendations Wednesday through a bulletin designed to improve workplace health and safety at marijuana processing facilities and broadly across the legal industry.
The announcement represents the Commission's formal recognition of ground cannabis dust as a hazardous chemical that can irritate the respiratory system and exposed skin and marks a major step towards updating Massachusetts' workplace safety expectations following the <a href="https://www.benzinga.com/markets/cannabis/22/10/29130552/cannabis-employee-dies-from-inhaling-cannabis-dust-osha-report">2022 occupational asthma death of a Holyoke processing facility employee</a>.
"Today's bulletin is intended to bring increased awareness of an identified health risk in the marijuana industry and will support Commission and industry efforts to enhance safety standards across Massachusetts," stated commission acting executive director/chief people officer Debbie Hilton-Creek. "We will continue to partner with licensees to appropriately and effectively communicate this message and depend on them to implement protocols that will protect the overall well-being of our workforce."
Under the new bulletin, the Commission recommends that all licensees engaged in marijuana processing follow Occupational Safety and Health Administration (OSHA) guidelines around hazardous chemicals in the workplace. The Commission also reminds licensees of its obligation to have a hazard communication program which includes the evaluation of hazardous chemicals in its facility and develop Safety Data Sheets to inform its employees.
Going forward, the Commission is advising licensees engaged in marijuana processing to protect employees from hazards associated with cannabis dust exposure by using engineering controls like local exhaust ventilation, plus administrative controls like limiting employee exposure during the workday. The Commission recommends that licensees provide personal protective equipment, and appropriately manage medical situations when they arise.
What Happened: On Jan. 4, 2022, Lorna McMurrey (27) complained she could not breathe, presumably due to cannabis kief (cannabis dust) in the air where she was grinding and packaging pre-rolls. She was taken to a local hospital&nbsp;where she died on Jan. 7. According to the <a href="https://www.cdc.gov/mmwr/volumes/72/wr/mm7246a2.htm" target="_blank" rel="noreferrer noopener">report from</a> the Centers for Disease Control and Prevention (CDC), this was the first<a href="https://www.benzinga.com/markets/cannabis/23/11/35844553/cannabis-employee-died-from-occupational-asthma-fed-report-confirms-first-such-case-in-us" target="_blank" rel="noreferrer noopener"> known case of an occupational asthma death</a> in the U.S. cannabis industry. The report confirmed that the occupational asthma was triggered by ground cannabis dust, and revealed that cannabis giant Trulieve (OTCQX:<a class="ticker" href="https://www.benzinga.com/stock/TCNNF#OTCQX">TCNNF</a>) committed three &#8220;serious&#8221; violations assessed by OSHA for which it paid fines totaling $35,219.
In June, the Commission fined medical marijuana giant Trulieve (OTCQX:<a class="ticker" href="https://www.benzinga.com/stock/TCNNF#OTCQX">TCNNF</a>) in relation to the death of a company&#8217;s employee in 2022. A company representative signed a tentative settlement with Commission, agreeing to a fine in the amount of $350,000.
Read Also: <a href="https://www.benzinga.com/markets/cannabis/23/11/35915235/mother-of-deceased-cannabis-worker-sues-marijuana-giant-claiming-wrongful-death-and-negligence">Mother Of Deceased Cannabis Worker Sues Marijuana Giant Claiming Wrongful Death And Negligence</a>
Get Benzinga's exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter <a href="https://newsletteremail.benzinga.com/subscribe" target="_blank" rel="noreferrer noopener">here</a>. If you're serious about the business, you can't afford to miss out.
<h2 class="wp-block-heading">Safety And Sanitary Standards</h2>
Today's update follows a state Department of Public Health (DPH) Fatality Assessment and Control Evaluation (FACE) report and Occupational Lung Disease Bulletin that were issued following McMurrey's death.
As the first confirmed case of&nbsp;occupational asthma in a cannabis facility, the CDC report said the incident&nbsp;"illustrates missed opportunities for prevention, including control of workplace exposures, medical surveillance, and treatment according to current asthma guidelines."&nbsp;
The previous DPH report also included recommendations for marijuana cannabis processors, including training all employees about how to work safely around hazardous materials, developing comprehensive health and safety programs, and monitoring employees for health symptoms.
The Commission's latest announcement relative to cannabis dust follows a February bulletin that advised licensees about new safety and sanitary standards for processing the leaves and flowers of female marijuana plants in a way that is:
<ul>
<li>Well cured and free from seeds and stems;</li>
<li>Free of dirt, sand, debris, and other foreign matter;</li>
<li>Free of contamination by mold, rot, other fungus, pests and bacterial diseases and satisfying the sanitation requirements in 105 CMR 500.000, and if applicable, 105 CMR 590.000: State Sanitary Code Chapter X – Minimum Sanitation Standards for Food Establishments;</li>
<li>Prepared and handled on food-grade stainless steel tables with no contact with Licensees' or Marijuana Establishment Agents' bare hands; and</li>
<li>Packaged in a secure area.</li>
</ul>
Commission's new bulletin clarifies that all licensees engaged in the processing of marijuana have a separate obligation to ensure the safety of workers, and all marijuana establishments and medical marijuana treatment centers in Massachusetts are required to follow Commission regulations that require written workplace safety and health standard operating procedures.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/cannabis/24/11/41958902/hemp-co-wins-8-4m-grant-from-us-energy-dept-to-develop-carbon-negative-building-materials">Hemp Co. Wins $8.4M Grant From US Energy Dept. To Develop Carbon-Negative Building Materials</a></li>
</ul>
Photo: Courtesy of CRYSTALWEED cannabis on Unsplash

TCNNF

Ground Cannabis Dust Is A Hazardous Chemical, Confirms Massachusetts Regulator

Former Speaker Kevin McCarthy (R-Calif.) has expressed skepticism over the Senate confirmation of President-elect Trump&#8217;s nominee for attorney general, former Rep. Matt Gaetz (R-Fla.).
What Happened: McCarthy, a staunch Trump ally, voiced his doubts during a Bloomberg Television <a href="https://www.youtube.com/watch?v=WqzijZSqwXY&amp;ab_channel=BloombergTelevision">interview</a>. Despite his overall approval of Trump&#8217;s Cabinet picks, he singled out Gaetz, stating, &#8220;Gaetz won&#8217;t get confirmed. Everybody knows that.&#8221;
He also hinted at Gaetz&#8217;s lack of popularity within the Republican conference, implying that his nomination wouldn&#8217;t carry much weight.
&#8220;You'd have to ask the president, but Gaetz couldn't win in a Republican conference, so it doesn't matter.&#8221;
See Also: <a href="https://www.benzinga.com/24/11/41961161/musk-ramaswamy-headed-doge-department-will-be-an-incredibly-challenging-endeavor-says-ted-cruzshares-this-piece-of-advice?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Ted Cruz Says Running DOGE Won&#8217;t Be A Cake Walk, Offers Reading Advice To Elon Musk</a>
The nomination has caught many Senate Republicans off guard, with some expressing doubts about Gaetz&#8217;s potential confirmation. These concerns are likely to revolve around the Department of Justice&#8217;s previous investigation into allegations of sexual misconduct against Gaetz. Despite the investigation being closed last year without charges, the controversy could still affect the confirmation process.
Why It Matters: President-elect Trump&#8217;s nomination of Gaetz as attorney general, <a href="https://www.benzinga.com/news/legal/24/11/41956594/matt-gaetz-is-trumps-attorney-general-pick-would-be-top-cop-is-under-house-ethics-investigation">came as a surprise</a> to many. Gaetz, a controversial figure, is known for his radical proposals, including a bill to allow federal <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">income tax payments</a> in Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>).
The relationship between McCarthy and Gaetz has been fraught with tension. Gaetz <a href="https://www.benzinga.com/news/23/10/35043900/matt-gaetz-challenges-kevin-mccarthys-leadership-response-from-the-house-speaker-bring-it-on">led an effort</a> to remove McCarthy from his speakership position. McCarthy has <a href="https://www.benzinga.com/news/24/04/38175658/kevin-mccarthy-ties-gaetzs-sexual-misconduct-allegations-to-his-speaker-ouster">linked his removal</a> from the Speaker position to the sexual misconduct allegations against Gaetz.
Photo by Consolidated News Photos on Shutterstock
Did You Know?
<ul>
<li>Congress Is Making Huge Investments. <a href="https://www.benzinga.com/gov-trades">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

Politics

General

$BTC

Kevin McCarthy Says Matt Gaetz Won't Get Confirmed By The Senate And 'Everybody Knows That'

A new 13F filing from Viking Fund Management reveals which companies the fund bought and sold in the third quarter, including exiting some oil companies ahead of the 2024 election.
Third Quarter Exits: Viking Fund Management sold out of eight stocks completely in the third quarter, including positions in some of the largest oil companies.
Here are the positions exited, as <a href="https://13f.info/13f/000116906924000080/compare/000116906924000006">reported </a>by 13finfo:
<ul>
<li>Marathon Oil (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRO#NYSE">MRO</a>)</li>
<li>Shell PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHEL#NYSE">SHEL</a>)</li>
<li>SM Energy Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SM#NYSE">SM</a>)</li>
<li>Southern Copper Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCCO#NYSE">SCCO</a>)</li>
<li>Sociedad Quimica y Minera (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SQM#NYSE">SQM</a>)</li>
<li>Murphy USA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MUSA#NYSE">MUSA</a>)</li>
<li>Sanofi SA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNY#NYSE">SNY</a>)</li>
<li>Cactus Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WHD#NYSE">WHD</a>)</li>
</ul>
Third Quarter New Positions: The following were the new stocks added to the fund in the third quarter, ranked in size by the dollar value at the end of the quarter.
<ul>
<li>Kodiak Gas Services (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KGS#NYSE">KGS</a>)</li>
<li>EQT Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EQT#NYSE">EQT</a>)</li>
<li>HF Sinclair Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DINO#NYSE">DINO</a>)</li>
<li>Weatherford International (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WFRD#NASDAQ">WFRD</a>)</li>
<li>NRG Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NRG#NYSE">NRG</a>)</li>
<li>Vertiv Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VRT#NYSE">VRT</a>)</li>
<li>Chart Industries (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GTLS#NYSE">GTLS</a>)</li>
<li>Vistra Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VST#NYSE">VST</a>)</li>
<li>United Microelectronics (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UMC#NYSE">UMC</a>)</li>
<li>Eversource Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ES#NYSE">ES</a>)</li>
<li>Portland General Electric (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/POR#NYSE">POR</a>)</li>
<li>Restaurant Brands International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QSR#NYSE">QSR</a>)</li>
<li>Nutrien (NTR.TO – Canada)</li>
</ul>
 Big Moves: The fund made several changes to its existing positions alongside the new positions and exited positions.
Here are the biggest additions in the quarter to existing stakes:
<ul>
<li>Civitas Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CIVI#NYSE">CIVI</a>): +16,900%</li>
<li>Broadcom Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>): +882%</li>
<li>LyondellBassell Industries (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LYB#NYSE">LYB</a>): +400%</li>
<li>Rio Tinto PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RIO#NYSE">RIO</a>): +386%</li>
<li>Dow Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DOW#NYSE">DOW</a>): +200%</li>
</ul>
Here are the biggest position cuts during the quarter to existing stakes:
<ul>
<li>Texas Pacific Land (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TPL#NYSE">TPL</a>): -60%</li>
<li>Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>): -50%</li>
<li>Haliburton Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HAL#NYSE">HAL</a>): -40%</li>
<li>ExxonMobil (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>): -36%</li>
<li>Ovintiv (OVV.TO – Canada): -33%</li>
</ul>
Why It's Important: At the end of the quarter, these are the fund's largest positions ranked by dollar value and the percentage they make up of the fund:
<ul>
<li>Broadcom: $27.96 million, 4.5%</li>
<li>AbbVie Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABBV#NYSE">ABBV</a>): $24.88 million, 4.0%</li>
<li>NextEra Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEE#NYSE">NEE</a>): $22.65 million, 3.7%</li>
<li>Entergy Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ETR#NYSE">ETR</a>): $16.27 million, 2.6%</li>
<li>BlackRock Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLK#NYSE">BLK</a>): $14.24 million, 2.3%</li>
</ul>
The fund added significantly to its position in Broadcom, which remains the largest holding.
The quarter saw the sale of several oil stocks, but the fund opened new positions in several energy names in the quarter.
Photo: Shutterstock

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Viking Fund Management Sells Big Oil Stocks In Q3, Cuts Tesla Position In Half, Adds To Largest Position Broadcom

Dividends

Nike Raised Quarterly Dividend From $0.37 To $0.40

The pre-roll market, now surpassing $1.5 billion in annual sales, has become one of the fastest-growing and most competitive segments in cannabis. With a flood of brands vying for consumer attention, standing out in this sea of products is no easy feat. Custom Cones USA, however, is tackling this challenge head-on.&nbsp;
By offering pre-roll solutions at scale, they're helping businesses navigate the crowded market and find their niche.
But it's not just about volume. Custom Cones USA is setting itself apart with innovations like cannabis humidors, designed to keep products fresher for longer—a critical factor in ensuring quality and building consumer trust. As CEO Harrison Bard shared with Benzinga Cannabis, the company's mission is clear: to fuel the growth of the pre-roll category while giving brands the tools they need to thrive.
<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">Custom Made: Glass Tips, Flavored Tips, And… Fusilli Noodle Tips</h3>
With dispensary shelves overflowing, how can brands truly stand out? Is it possible to balance large-scale production with unique, artisanal designs? Custom Cones USA has built its reputation on flexibility, offering tailored solutions to meet diverse client needs.&nbsp;
Bard shared some of the more unusual requests they've received over the years, including a proposal for filter tips shaped like fusilli noodles. "We considered it, but the concerns around food import regulations and potential insect issues made us decline," Bard noted with a laugh.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="683" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/11184321/CCUSA_Custom-Branded-Pre-Rolls_1UP_046-1024x683.jpg" alt="" class="wp-image-641591" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/11184321/CCUSA_Custom-Branded-Pre-Rolls_1UP_046-1024x683.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/11184321/CCUSA_Custom-Branded-Pre-Rolls_1UP_046-300x200.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/11184321/CCUSA_Custom-Branded-Pre-Rolls_1UP_046-768x512.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/11184321/CCUSA_Custom-Branded-Pre-Rolls_1UP_046-1536x1024.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/11184321/CCUSA_Custom-Branded-Pre-Rolls_1UP_046.jpg 1620w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Courtesy of Custom Cones USA</figcaption></figure>
Beyond the quirky requests, the company offers a wide range of customization options, from colored tips and designer cones in various shades to themed products for holidays and special events.&nbsp;
They also provide ceramic and glass filter tips for premium offerings, allowing brands to elevate their pre-rolls with distinct, high-quality touches. "We can accommodate everything from small, bespoke orders for craft farms to bulk shipments for large MSOs, giving our clients the flexibility they need to differentiate their products," Bard explained.
Read Also:<a href="https://www.benzinga.com/news/24/09/40941818/how-this-cheese-aging-tech-is-boosting-profits-for-cannabis-growers-stop-throwing-cheddar-out-the-do"> How This Cheese-Aging Tech Is Boosting Profits For Cannabis Growers: Stop Throwing Cheddar Out The Door</a>
<h3 class="wp-block-heading">Supply Chain And Design Rolled Into One&nbsp;</h3>
Operating in a<a href="https://www.benzinga.com/markets/cannabis/24/10/41523813/cannabis-pre-rolls-set-to-hit-4-billion-by-2025-will-us-market-follow-canadas-lead"> high-demand market</a>, Custom Cones USA has faced unique supply chain challenges, particularly with niche products. Thus, the company maintains a robust inventory of core items like 109mm, 98mm, and 84mm cones, often holding two to three months of supply domestically.&nbsp;
In response to the increasing demand for custom designs, Custom Cones USA offers a graphic design service that streamlines the process for clients.&nbsp;
Bard explained, "We provide a full design service or support clients who prefer using tools like Canva. As long as they can provide a vector file, we handle the rest." This flexibility allows small businesses and large operators alike to create unique branded products without excessive lead times or high minimum orders.
<h3 class="wp-block-heading">Pre-Rolls For All&nbsp;</h3>
Innovative products like ceramic and glass filter tips, along with flavored wooden tips, are part of the company's strategy to meet evolving consumer preferences. "We're seeing a growing interest in premium tip sections, and we're the only company offering these high-quality, in-stock options," Bard explained.
From bespoke color-tip cones for small craft brands to large-scale orders for major multi-state operators (MSOs), Custom Cones USA caters to a wide range of clients. "We offer the lowest minimum order quantities in the industry, making it accessible for both small mom-and-pop shops and large MSOs," Bard said.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="683" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/11184352/CCUSA_Custom-Branded-Pre-Rolls_1UP_004-1024x683.jpg" alt="" class="wp-image-641592" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/11184352/CCUSA_Custom-Branded-Pre-Rolls_1UP_004-1024x683.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/11184352/CCUSA_Custom-Branded-Pre-Rolls_1UP_004-300x200.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/11184352/CCUSA_Custom-Branded-Pre-Rolls_1UP_004-768x512.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/11184352/CCUSA_Custom-Branded-Pre-Rolls_1UP_004-1536x1024.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/11184352/CCUSA_Custom-Branded-Pre-Rolls_1UP_004.jpg 1620w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Looking ahead, Custom Cones USA is making a significant pivot towards consumer products. The company launched DaySavers, a brand focused on providing safe, compliant smoking accessories.&nbsp;
"There are no regulations for smoking accessories like blunt wraps or palm leaf products, which often fail tests for heavy metals and pesticides," Bard pointed out. DaySavers aims to fill this gap, offering products that are independently tested to meet safety standards.
Read Also:<a href="https://www.benzinga.com/general/biotech/24/08/40298228/think-you-can-do-it-all-20-000-reasons-why-automation-outperforms-a-broad-approach-in-cannabis"> Think You Can Do It All? 20,000 Reasons Why Automation Outperforms A Broad Approach In Cannabis</a>
<h3 class="wp-block-heading">Fresh Lettuce&nbsp;</h3>
Bard highlighted Custom Cones will be bringing a <a href="https://www.benzinga.com/markets/cannabis/24/06/39508155/900-pre-rolls-per-hour-upgrade-from-manual-to-automatic-speeds-up-joint-production-enhances-marg">significant innovation for the cannabis industry</a>: the adoption of humidors.&nbsp;
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="1000" height="1000" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/11184105/Humidor_2024_012.jpg" alt="" class="wp-image-641587" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/11184105/Humidor_2024_012.jpg 1000w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/11184105/Humidor_2024_012-300x300.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/11184105/Humidor_2024_012-150x150.jpg 150w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/11184105/Humidor_2024_012-768x768.jpg 768w" sizes="(max-width: 1000px) 100vw, 1000px" /><figcaption class="wp-element-caption">Courtesy of Custom Cones USA</figcaption></figure>
"<a href="https://customconesusa.com/black-series-humidor-1310-perfect-for-cannabis-pre-roll-blunts-and-hemp-wraps/">Humidors</a> are already common in cigar shops, and we see a similar trend emerging for cannabis," Bard shared.&nbsp;
Custom Cones USA recently launched a line of cannabis humidors, which Bard believes could become a standard feature in dispensaries within the next decade. These devices help maintain freshness and could potentially reduce the need for airtight, less eco-friendly packaging.
The company is also exploring new infusion technologies. "We're excited about the possibilities of bringing<a href="https://www.benzinga.com/analyst-ratings/analyst-color/23/12/36268367/u-s-cannabis-market-premium-products"> infused</a> papers back into our portfolio, as it aligns with our commitment to innovation and quality," Bard revealed.
As the holiday season approaches, Custom Cones USA is ramping up its efforts to meet demand.&nbsp;
"Our preparation involves maintaining a strong inventory and leveraging advanced logistics," Bard explained. "Our flavored cones and premium ceramic tips have been particularly popular, and we anticipate even higher demand this year," he concluded.&nbsp;
Read Next:<a href="https://www.benzinga.com/markets/cannabis/24/09/40972472/x-rays-microwaves-and-now-what-this-company-freezes-weed-at-320-f-to-kill-mold-and-save-a-ton"> X-Rays, Microwaves And Now What? This Company Freezes Weed At -320°F To Kill Mold And Save A Ton</a>

Contracts

Management

Success Stories

Small Business

Can Pre-Roll Humidors Save Your Cannabis Brand? Custom Cones USA Says Yes

Draganfly (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DPRO#NASDAQ">DPRO</a>) reported quarterly losses of $(0.04) per share which beat the analyst consensus estimate of $(1.16) by 96.55 percent. This is a 98.4 percent increase over losses of $(2.50) per share from the same period last year. The company reported quarterly sales of $1.38 million which missed the analyst consensus estimate of $2.25 million by 38.58 percent. This is a 13.30 percent decrease over sales of $1.59 million the same period last year.

Earnings

Earnings Beats

Earnings Misses

DPRO

Draganfly Q3 EPS $(0.04) Beats $(1.16) Estimate, Sales $1.38M Miss $2.25M Estimate

Editor&#8217;s Note: The article was changed to reflect Renaissance Technologies, not Jim Simons, who passed away in May 2024.
In its third-quarter update, Renaissance Technologies, founded by the late <a href="https://www.benzinga.com/topic/jim-simons">famed "Quant King</a>&#8221; Jim Simons, showcased some notable pivots within its $66.5 billion portfolio.
<h1 class="wp-block-heading">Microsoft Stake, Trims Other Tech Names</h1>
Renaissance Technologies increased its stake in Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), betting on the tech giant's expansion in cloud and AI sectors, Renaissance revealed in a <a href="https://www.sec.gov/Archives/edgar/data/1037389/000103738924000091/xslForm13F_X02/primary_doc.xml">Wednesday SEC filing</a>.
At the same time, the company pared back investments in high-growth stocks such as Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) and NVIDIA Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>). Nvidia's AI boom and Tesla's market lead in EVs didn't deter the company from reducing exposure, perhaps as a hedge against market corrections.
Broadcom Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>) was also scaled back, suggesting Renaissance might be positioning itself more defensively as tech valuations reach historic highs.
Renaissance's move to fortify positions in well-established tech names could signal a more cautious stance on speculative growth.
<h1 class="wp-block-heading">Palantir Takes The Lead In Renaissance's Portfolio</h1>
Among all the holdings, Palantir Technologies Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>) now stands as Renaissance's largest position, making up 2.15% of the portfolio. Known for its deep government contracts and burgeoning AI applications, Palantir's data-centric profile aligns well with Renaissance&#8217;s quant-driven approach.
This shift highlights a strategic tilt toward resilient, data-focused tech plays, reflecting the company&#8217;s long-term confidence in the power of predictive analytics and secure data solutions.
Read Also: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/11/41972288/can-palantir-sustain-its-300x-valuation-after-climbing-266-this-year">Can Palantir Sustain Its 300X Valuation After Climbing 266% This Year?</a>
<h1 class="wp-block-heading">Top Buys: Microsoft, Apple, Cisco</h1>
Alongside Microsoft, Renaissance added significantly to Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) and Cisco Systems Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSCO#NASDAQ">CSCO</a>). This trio signals a preference for big-cap stability in a year marked by market volatility.
While Microsoft's AI and cloud growth makes it a solid pick, Apple and Cisco bring diverse revenue streams, from consumer tech to networking infrastructure, giving Renaissance a balanced tech exposure.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/tech/24/11/41973572/ray-dalios-bridgewater-cuts-stake-in-microsoft-stock-by-20-is-big-tech-losing-its-shine">Ray Dalio&#8217;s Bridgewater Cuts Stake In Microsoft Stock By 20% – Is Big Tech Losing Its Shine?</a></li>
</ul>
Photo: Shutterstock

Long Ideas

AAPL

CSCO

MSFT

NVDA

PLTR

Renaissance Technologies Shifts Gears: Microsoft In, Tesla Out, Palantir On Top [CORRECTED]

Cryptocurrency markets are trading lower, with Bitcoin struggling to stay above the $90,000 mark.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Price&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>Gains +/-</td>
</tr>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td> $88,093.00</td>
<td>-3.3%</td>
</tr>
<tr>
<td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)</td>
<td>&nbsp;$3,108.09&nbsp;&nbsp;</td>
<td>-2.6%</td>
</tr>
<tr>
<td>Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)</td>
<td>&nbsp;$213.75</td>
<td>+0.2%</td>
</tr>
<tr>
<td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)</td>
<td> $0.3876</td>
<td>-1%</td>
</tr>
<tr>
<td>Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>)</td>
<td>&nbsp;$0.00002487</td>
<td>-1.7%</td>
</tr>
</tbody>
</table>
</figure>
Notable Statistics:
<ul>
<li>IntoTheBlock data shows large transaction volume falling by 9.5% and daily active addresses dropping by 13.4%. Transactions greater than $100,000 are down from 17,408 to 19,527 in a single day. Exchanges netflows are down by 165.7%.</li>
<li>Coinglass data reports 174,278 traders were liquidated in the past 24 hours for $498.48 million.</li>
</ul>
Notable Developments:
<ul>
<li><a href="https://www.benzinga.com/news/events/24/11/41978078/mica-regulation-expected-to-drive-institutional-interest-in-european-crypto-market">MiCA Regulation Expected To Drive Institutional Interest In European Crypto Market</a></li>
<li><a href="https://www.benzinga.com/news/earnings/earnings-beats/24/11/41984593/bitcoin-miner-hut-8-shares-dip-despite-strong-q3-analysts-remain-bullish-on-ai-crypto-potential">Bitcoin Miner Hut 8 Shares Dip Despite Strong Q3; Analysts Remain Bullish On AI, Crypto Potential</a></li>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41976407/ben-horowitz-the-biden-regulators-lied-about-crypto">Ben Horowitz: &#8216;The Biden Regulators Lied About Crypto&#8217;</a></li>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41959476/fbi-raids-polymarket-ceo-over-crypto-betting-platforms-us-activities-he-fires-back-in-the-face-of-adversity-we-build">FBI Raids Polymarket CEO Over Crypto Betting Platform&#8217;s US Activities — He Fires Back: &#8216;In The Face Of Adversity, We Build&#8217;</a></li>
</ul>
Top Gainers:
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Price&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>Gains +/-</td>
</tr>
<tr>
<td>Pepe (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">PEPE</a>)</td>
<td> $0.00002209</td>
<td>16.5%</td>
</tr>
<tr>
<td>Brett (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">BRETT</a>)</td>
<td> $0.147</td>
<td>15.4%</td>
</tr>
<tr>
<td>Kaspa (CRYPTO: KAS)</td>
<td> $0.147</td>
<td>14.6%</td>
</tr>
</tbody>
</table>
</figure>
Trader Notes: With Bitcoin prices dropping below the $90,000 mark, crypto chart analyst Ali Martinez sees $5.42 billion in Bitcoin profits having been realized, which pushed the sell-side risk ratio to 0.524%.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">$5.42 billion in <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> profits have been realized, and the sell-side risk ratio has surged to 0.524%. Stay alert and proceed with caution! <a href="https://t.co/wQiUzbXG4f">pic.twitter.com/wQiUzbXG4f</a>
&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1857080800296276445?ref_src=twsrc%5Etfw">November 14, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
<figcaption class="wp-element-caption">More Crypto Online <a href="https://x.com/CrypNuevo/status/1857132425958089033">stated</a> that if Bitcoin price fails to hold at $88,050, it likely signals the start of wave 4, with expected support at $81,500. However, if Bitcoin breaks below $85,000, it will indicate that further upward movement in wave 3 is unlikely.</figcaption></figure>
Crypto trader CrypNuevo <a href="https://x.com/Morecryptoonl/status/1857077141508141563">sees</a> a potential spike to the $95,000-$96,000 range for Bitcoin as a shorting opportunity. He anticipates a pullback when sentiment builds around reaching $100,000. For long positions, the trader plans to analyze BTC dominance (BTC.D) to decide whether to focus on Bitcoin or altcoins.
What&#8217;s Next: The influence of&nbsp;<a href="https://www.benzinga.com/money/is-bitcoin-a-good-investment" target="_blank" rel="noreferrer noopener">Bitcoin as an institutional asset class</a>&nbsp;is expected to be thoroughly explored at Benzinga&#8217;s upcoming&nbsp;<a href="https://www.benzinga.com/events/digital-assets/agenda/" target="_blank" rel="noreferrer noopener">Future of Digital Assets</a>&nbsp;event on Nov. 19.
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41969740/bitcoin-stays-above-91000-but-one-technical-indicator-spells-trouble">Bitcoin Stays Above $91,000—But One Technical Indicator Spells Trouble</a></li>
</ul>

$BRETT

$DOGE

$ETH

$PEPE

$SHIB

$SOL

Bitcoin, Ethereum, Dogecoin Turn Red, Trader Marks 'Ideal Support Level At $81,500'

The U.S. Securities and Exchange Commission (SEC) is too tough on crypto, 18 Attorneys General allege <a href="https://www.benzinga.com/topic/law">in a new lawsuit</a>. 
What Happened: AGs from 18 Republican-leaning states joined the DeFi Education Fund to file a lawsuit against the SEC for what they consider overly harsh regulation against digital assets.
The plaintiffs are complaining that the SEC, led by Chairman Gary Gensler, is exceeding its authority in an attempt to regulate <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41680397/who-will-replace-gary-gensler-the-top-candidates-for-sec-chair-after-the-election">the entire cryptocurrency sector.</a>
The lawsuit contends that the SEC's expansive approach lacks Congressional authorization, which would be necessary for it to assume such sweeping control.
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41986427/pennsylvania-introduces-bitcoin-strategic-reserve-act-to-invest-up-to-700-million-in-btc">Pennsylvania Introduces Bitcoin Strategic Reserve Act To Invest Up To $700 Million In BTC</a>
According to the states, the SEC's "regulation by enforcement" strategy has hindered the growth of a sector.
The complaint states, "The SEC's assertion of sweeping jurisdiction without congressional authorization deprives States of their proper sovereign role and chills the development of innovative regulatory frameworks for the digital asset industry."
The lawsuit also challenges the SEC's enforcement actions, alleging that they lack clear standards and impose undue burdens on industry participants. 
This has resulted in significant financial harm, with some companies moving operations overseas due to regulatory uncertainty, the plaintiffs argue. 
The SEC's regulatory stance &#8220;threatens to displace better-suited state laws that have been carefully designed to ensure consumer protection in the digital asset industry,&#8221; they added.
The timing of the suit coincides with a growing national conversation on digital asset regulation, especially as Benzinga's <a href="https://www.benzinga.com/events/digital-assets/agenda/">Future of Digital Assets</a> conference approaches on Nov. 19, where key industry stakeholders and policymakers will discuss the future of cryptocurrency regulation in the U.S.
The states seek declaratory and injunctive relief, urging a return to a state-led regulatory approach that would foster innovation and protect consumers without overstepping federal boundaries.
<h3 class="wp-block-heading">Who&#8217;s Suing?</h3>
The plaintiffs in the lawsuit against the SEC include:
<ul>
<li>Kentucky (AG Russell Coleman)</li>
<li>Nebraska (AG Michael T. Hilgers)</li>
<li>Tennessee (AG Jonathan Skrmetti)</li>
<li>West Virginia (AG Patrick Morrisey)</li>
<li>Iowa (AG Brenna Bird)</li>
<li>Texas (AG Ken Paxton)</li>
<li>Mississippi (AG Lynn Fitch)</li>
<li>Montana (AG Austin Knudsen)</li>
<li>Arkansas (AG Tim Griffin)</li>
<li>Ohio (AG David Yost)</li>
<li>Kansas (AG Kris W. Kobach)</li>
<li>Missouri (AG Andrew Bailey)</li>
<li>Indiana (AG Theodore E. Rokita)</li>
<li>Utah (AG Sean D. Reyes)</li>
<li>Louisiana (AG Elizabeth B. Murrill)</li>
<li>South Carolina (AG Alan Wilson)</li>
<li>Oklahoma (AG Gentner Drummond)</li>
<li>Florida (AG Ashley Moody)</li>
</ul>
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41985685/investor-loses-25m-due-to-misplaced-crypto-transfer-says-cexs-feel-more-secure">Investor Loses $25M Due To Misplaced Crypto Transfer, Says CEXs Feel More Secure</a></li>
</ul>
Image: Securities and Exchange Commission offices. Photo via Shutterstock.

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

Cryptocurrency

Legal

18 Republican States Sue Biden's SEC Over Harsh Crypto Crackdown

A new report from the Anti-Defamation League (ADL) has called attention to the prevalence of extremist and hateful content on Steam, accusing the platform of enabling the <a href="https://www.benzinga.com/general/gaming">spread of such material. </a>
<a href="https://www.adl.org/resources/report/steam-powered-hate-top-gaming-site-rife-extremism-antisemitism">According</a> to the ADL's findings, over 1.8 million instances of hate-related content, including Nazi imagery and support for terrorist organizations like ISIS and Hamas, were discovered during an &#8220;unprecedented&#8221; analysis of Steam&#8217;s vast user base.
Benzinga has reached out to Valve Corporation, the platform&#8217;s parent company, for comment, but the company had not responded at time of publication.
See Also: <a href="https://www.benzinga.com/general/gaming/24/11/41952020/76-of-children-plan-to-ask-for-video-games-this-christmas-survey-shows">76% Of Children Plan To Ask For Video Games This Christmas, Survey Shows</a>
The report, published on the ADL&#8217;s website, offers a sweeping look at the types of content found across the platform.
Over the course of its investigation, the ADL examined 458 million user profiles, 152 million group avatars and more than 610 million comments from users. Among the most concerning discoveries were antisemitic symbols, white supremacist propaganda and support for extremist groups, including thousands of mentions of ISIS and Hamas.
In addition to the hateful imagery, the ADL uncovered troubling use of offensive keywords such as "1488," "shekel" and "white power," with nearly 185,000 specific terms identified in extremist contexts. In total, 1.5 million unique users and over 73,000 groups were found to have shared such content.
Despite these alarming findings, the ADL points out a critical gap in Steam&#8217;s content moderation policies. While Valve explicitly prohibits hate speech in its developer and community guidelines — stating that it forbids &#8220;speech that promotes hatred, violence or discrimination&#8221; — the ADL argues that enforcement of these rules remains inconsistent.
<h1 class="wp-block-heading">Valve's Moderation Tools Under Scrutiny</h1>
The ADL&#8217;s report goes on to question the effectiveness of Valve&#8217;s moderation efforts. While the company employs filters and automated tools to screen user-profiles and comments, these measures are not universally applied across all areas of the platform.
Notably, users can disable filters, making it easier for harmful content to slip through the cracks. Furthermore, the ADL asserts that Valve's keyword detection system can easily be evaded, with users modifying words or using ASCII (American Standard Code for Information Interchange) art to circumvent moderation systems.
&#8220;While Steam appears to be technically capable of moderating extremist and hateful content on its platform, the spread of extremist content on the platform is due in part to Valve&#8217;s highly permissive approach to content policy,&#8221; the ADL stated. 
It also pointed out that, in rare instances, Valve has taken down extremist content, but this has often occurred only after external pressure or media attention, rather than as part of a consistent, proactive strategy.
<h1 class="wp-block-heading">Calls For Change In Valve&#8217;s Platform</h1>
The organization has called for a significant overhaul of the company's content governance, urging Valve to implement policies that explicitly prohibit hate and extremism, conduct thorough audits of their moderation practices, and collaborate with researchers and civil society to improve their approach.
&#8220;Major gaming companies are selling their wares on a platform that is not addressing users&#8217; support of extremists and allowing the proliferation of hate,&#8221; Daniel Kelley, the ADL's director of strategy and operations, remarked in an <a href="https://www.bloomberg.com/news/articles/2024-11-14/white-supremacist-nazi-content-spread-on-steam-gaming-platform?srnd=undefined">interview</a> with Bloomberg. 
&#8220;This increases the likelihood that someone will travel all the way down the rabbit hole,&#8221; Kelley added.
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Former DoorDash Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DASH#NASDAQ">DASH</a>) delivery workers are claiming they haven't been paid thousands of dollars in wages from past years and are seeking protection from deportation after Donald Trump's recent win in<a href="https://www.benzinga.com/news/24/11/41768178/donald-trump-defeats-kamala-harris-to-win-2024-election"> the 2024 election.</a>
 What Happened: A group of 95 delivery workers claim they were not paid their wages by DoorDash, one of the leading<a href="https://www.benzinga.com/topic/food-delivery"> food delivery companies</a> in the U.S., or by Motoclick, a smaller food delivery company.
Wage theft claims filed claim the workers were not paid more than $78,000 in wages, according to a <a href="https://gothamist.com/news/nyc-delivery-workers-filing-wage-theft-claims-seek-protection-from-deportation-under-trump">report </a>from Gothamist.
"We're not able to pay the rent or send money to our families in our own countries," Juan Iturbide, a former DoorDash delivery worker said.
Iturbide filed his claim against DoorDash with New York City's Department of Consumer and Worker Protection in 2023 according to a <a href="https://documentedny.com/2024/11/13/doordash-immigrant-delivery-workers-stolen-wages/">report </a>from DocumentedNY.
"Delivery work is one of the most dangerous occupations in the city. In addition to risking our lives, we shouldn't have to worry about being robbed by such a wealthy company," Itrubide said, as reported by DocumentedNY. "We deserve to be paid for the service we provide."
The former delivery worker said he is owed around $1,500 by DoorDash in unpaid wages. Iturbide was deactivated by DoorDash in 2021 after five years working as a delivery driver.
Several of the workers, including Iturbide protested outside DoorDash's Manhattan headquarters on Wednesday.
One of the concerns of labor organizers helping the workers is that many claiming lost wages are immigrants without work authorization in the U.S. Bringing the claims forward could put the workers more at risk of deportation under Trump in his second presidential term, according to the report.
"If the federal government is going to fail workers, workers are going to need the protection of city and state agencies to hold these multibillion-dollar companies accountable," Worker's Justice Project executive director Ligia Guallpa said.
Read Also: <a href="https://www.benzinga.com/news/earnings/24/10/41638196/doordash-stock-dips-slightly-after-better-than-expected-q3-results">DoorDash Stock Dips Slightly After Better-Than-Expected Q3 Results</a>
Why It's Important: The claims of unpaid wages could reignite the debate of whether food delivery workers are employees or independent contractors and comes with the timing of Trump's election win and deportation promises. The report said that New York City's 60,000 delivery workers are independent contractors.
New minimum wage laws and rules for delivery workers have added to the claims from workers against delivery companies.
The unpaid wages claims have caught the attention of New York City's Department of Consumer and Worker Protection, who sent a letter to the U.S. Department of Homeland Security in September.
The letter said that immigrant workers who have filed claims should be given protection from deportation proceedings and given legal right to work in the U.S.
DoorDash spokesperson Eli Scheinholtz said it takes concerns on wage theft seriously and investigates all claims to make sure the workers "receive what they're owed."
"Here's what we know to be true: Dashers in New York City get paid for the time spent completing work on our platform, in accordance with the city's minimum pay rules. If their pay does not meet the minimum pay rate at the end of the week, then they receive an adjustment — without exception," Scheinholtz said.
DASH Price Action: DoorDash stock closed Thursday down 1.12% at $173.80 versus a 52-week trading range of $92.56 to $178.16. DoorDash stock is up 80.2% year-to-date in 2024.
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DoorDash Workers Claim Unpaid Wages, Seek Protection From Deportation: 'We're Not Able To Pay The Rent'

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Investors wondering why stocks are down today are in the right place as we have all of the details behind what&rsquo;s weighing on the market on Tuesday!



The big reason why stocks are down today has to do with data from the <a href="https://finance.yahoo.com/news/job-openings-fall-to-lowest-level-since-february-2021-141149453.html">latest jobs report</a>. The April report shows that job openings have fallen to their lowest since February 2021 at 8.06 million jobs. This comes after a hiring spree that took place after the pandemic.



Oxford Economics lead US economist Nancy Vanden Houten said the following about this to Yahoo Finance.




&ldquo;The decline in openings points to a slower pace of hiring in the months ahead. However, layoffs remain low, so net job growth should continue to be positive. The labor market remains healthy enough to allow Fed policy decisions to be primarily guided by readings on inflation.&rdquo;




Investors are also anxious about <a href="https://finance.yahoo.com/news/stock-market-today-stocks-slip-as-us-economy-starts-to-show-cracks-133125000.html">upcoming decisions from the Federal Reserve</a>. The economy may be slowing but the Fed is using inflation as its deciding factor for interest rate cuts. Until inflation has dropped enough, traders are unlikely to see those rates fall.



Let&rsquo;s check out what all of this means for the <a href="https://finance.yahoo.com/world-indices/">major stock indices</a> below!



<h2>Stocks Down Today: Major Indices Fall</h2>



<ul><li>The S&amp;P 500 starts us off with a .23% drop as of Tuesday afternoon.</li>



<li>Next is the Dow Jones Industrial Average with a .03% decrease as of this writing.</li>



<li>Closing us out is the NASDAQ Composite with a .19% fall on Tuesday.</li>
</ul>There are more stock market stories ready to go below!



We have all of the hottest news traders need to know about on Tuesday! That includes what&rsquo;s happening with shares of WiMi Hologram Cloud&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/wimi-stock-quote/">WIMI</a>), SOBR Safe&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/sobr-stock-quote/">SOBR</a>) and Microsoft&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/msft-stock-quote/">MSFT</a>) stock today. All of that info is available at the following links!



<h2>More Tuesday Stock Market News</h2>



<ul><li><a href="https://investorplace.com/2024/06/why-is-wimi-hologram-cloud-wimi-stock-up-23-today/">Why Is WiMi Hologram Cloud (WIMI) Stock Up 23% Today?</a></li>



<li><a href="https://investorplace.com/2024/06/why-is-sobr-safe-sobr-stock-up-83-today/">Why Is SOBR Safe (SOBR) Stock Up 83% Today?</a></li>



<li><a href="https://investorplace.com/2024/06/microsoft-layoffs-2024-what-to-know-about-the-latest-cloud-job-cuts/">Microsoft Layoffs 2024: What to Know About the Latest Cloud Job Cuts</a></li>
</ul>On the date of publication, William White 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&nbsp;InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.
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	The post <a href="https://investorplace.com/2024/06/why-are-stocks-down-today-june-4th/">Why Are Stocks Down Today?</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

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<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
A cucumber recall is in effect as consumers in 14 states are in danger of contracting salmonella from potentially infected vegetables.



The cucumber recall was announced by Fresh Start Produce Sales of Delray, Fla., after testing showed the bacteria on a sample in Pennsylvania. However, the company notes that these cucumbers are unlikely to have made it to store shelves.



Just to be on the safe side, <a href="https://www.nbcnews.com/business/consumer/cucumbers-recall-14-states-salmonella-concerns-what-kind-where-rcna155155">customers in 14 states</a> will want to check with retailers about where their customers came from. They are as follows.



<h2>Cucumber Recall: States Affected</h2>



<ul><li>Alabama</li>



<li>Florida</li>



<li>Georgia</li>



<li>Illinois</li>



<li>Maryland</li>



<li>New Jersey</li>



<li>New York</li>



<li>North Carolina</li>



<li>Ohio</li>



<li>Pennsylvania</li>



<li>South Carolina</li>



<li>Tennessee</li>



<li>Virginia</li>



<li>West Virginia</li>
</ul>To help narrow this down further, Fresh Start Produce Sales includes dates for when the cucumbers in the recall were shipped. The affected vegetables in the cucumber recall were shipped from May 17 to May 21.



Consumers will also want to keep an eye out for <a href="https://www.today.com/health/recall/cucumbers-salmonella-recall-rcna155195">signs of salmonella</a>. The illnesses&rsquo; symptoms include diarrhea, fever and stomach cramps. The illness is more serious for adults over 65, children under five and those with weakened immune systems.



The Food and Drug Administration (FDA) is also conducting tests on the infected cucumbers. It&rsquo;s performing whole-genome sequencing to ascertain if these cucumbers are connected to a larger salmonella outbreak.



There are plenty of other stories that are worth checking out below!



We have all of the hottest news on Tuesday that are of interest to stock market traders. A few examples include why stocks are down today, the latest news on WiMi Hologram Cloud&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/wimi-stock-quote/">WIMI</a>) stock and more. All of this info is readily available at the links below!



<h2>More Tuesday Stock Market News</h2>



<ul><li><a href="https://investorplace.com/2024/06/why-are-stocks-down-today-june-4th/">Why Are Stocks Down Today?</a></li>



<li><a href="https://investorplace.com/2024/06/why-is-wimi-hologram-cloud-wimi-stock-up-23-today/">Why Is WiMi Hologram Cloud (WIMI) Stock Up 23% Today?</a></li>



<li><a href="https://investorplace.com/2024/06/why-is-sobr-safe-sobr-stock-up-83-today/">Why Is SOBR Safe (SOBR) Stock Up 83% Today?</a></li>
</ul>On the date of publication, William White 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&nbsp;InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.
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<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Shares of MicroAlgo (NASDAQ:<a href="https://investorplace.com/stock-quotes/mlgo-stock-quote/">MLGO</a>) stock are surging higher by over 650% after the company announced that it would establish a micro-consciousness quantum research center in collaboration with WiMi (NASDAQ:<a href="https://investorplace.com/stock-quotes/wimi-stock-quote/">WIMI</a>), its <a href="http://ir.microalgor.com/Upload/2024-04-12/6618a007c924d.pdf">parent company</a>. The research center will combine several disciplines, including physics, polymer chemistry and philosophy, in order to advance the study of consciousness.



&ldquo;The micro-consciousness quantum research center builds a bridge between basic science and applied technology, closely connecting the theoretical research of basic science and the practice of applied technology,&rdquo; said MicroAlgo.



The center&rsquo;s research will focus on four aspects: the Quantum computing and consciousness model, brain-computer interface technology, big data artificial intelligence (AI) and quantum consciousness and quantum-driven generative consciousness.



MicroAlgo and WiMi&rsquo;s research center will also collaborate with Chinese universities and research institutions on shared research, laboratory building and training.



MicroAlgo did not provide any further details, such as the costs to build such a center and any potential revenue impact. As a result, the move in MLGO is highly unusual and likely to reverse, echoing previous unusual moves in Chinese companies like AMTD Digital (NYSE:<a href="https://investorplace.com/stock-quotes/hkd-stock-quote/">HKD</a>) and Magic Empire Global (NASDAQ:<a href="https://investorplace.com/stock-quotes/megl-stock-quote/">MEGL</a>). It&rsquo;s also worth noting that MLGO&rsquo;s float of <a href="https://finance.yahoo.com/quote/MLGO/key-statistics/">1.87 million shares</a> is extremely small, making the stock susceptible to sudden, volatile movements.



MicroAlgo&rsquo;s <a href="http://www.microalgor.com/">website</a> is also bare-bones and does not provide much information about the company.



<h2>5 Investors Betting Big on MLGO Stock in Q1</h2>



Tracking <a href="https://whalewisdom.com/stock/vena">institutional ownership</a> is important, as these large investors provide liquidity and support for stocks. However, MicroAlgo&rsquo;s institutional ownership is almost nonexistent, likely due to its status as a penny stock, falling sales and a lack of profitability.



As of the first quarter, only four 13F filers disclosed a stake in MLGO stock, a decline of nine filers compared to the prior quarter. These filers own a total of 10,862 shares, down by 77.52% from 48,313 shares during Q4. In addition, zero hedge funds reported a stake in the company.



The message from the Q1 13F data is quite clear: no one really cares or knows about MicroAlgo. With that in mind, let&rsquo;s take a look at its top shareholders as of Q1:



<ol><li>WiMi: 3.69 million shares. WiMi Q1 13D filing showed that it added 800,000 shares.</li>



<li>Chairman Jie Zhao: 1.85 million shares, accurate as of Dec. 31. These shares are owned by WiMi, while Zhao owns 100% of its Class A ordinary shares.</li>



<li>UBS Group (NYSE:<a href="https://investorplace.com/stock-quotes/ubs-stock-quote/">UBS</a>): 9,444 shares. UBS added 9,298 shares during Q1.</li>



<li>Tower Research Capital: 967 shares. Tower Research added 821 shares during Q1.</li>



<li>Morgan Stanley (NYSE:<a href="https://investorplace.com/stock-quotes/ms-stock-quote/">MS</a>): 450 shares. Morgan Stanley sold 204 shares during Q1.</li>
</ol>On Penny Stocks and Low-Volume Stocks:&#8239;With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That&rsquo;s because these &ldquo;penny stocks&rdquo; are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that&#8239;InvestorPlace.com&rsquo;s writers disclose this fact and warn readers of the risks.&nbsp;



Read More:&#8239;Penny Stocks &mdash; <a href="https://investorplace.com/2014/05/fraud-penny-stocks-scams/" target="_blank">How to Profit Without Getting Scammed</a>&nbsp;



On the date of publication, Eddie Pan did not hold (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&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/">Publishing Guidelines</a>.&nbsp;
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If you want to adjust your investment portfolio to stay with the times, look no further. 



For many, augmented reality (AR) stocks are a novelty. The AR industry is forecasted to <a href="https://www.skyquestt.com/report/augmented-reality-market#:~:text=Augmented%20Reality%20(AR)%20Market%20was,period%20(2024%2D2031).">grow by 33.5% annually until 2031</a>, illustrating its secular growth prospects. Also, numerous AR stocks are backed by systematic factors, allowing investors to generate superior returns.



Despite the industry&rsquo;s potential, undervalued AR stocks are few and far between, as information about the industry is widely dispensed. Therefore, I journeyed to find three overlooked and underpriced augmented reality stocks. My screen focused on fundamental aspects, company-specific events and technical analysis. Moreover, I factored in valuation multiples to ensure a holistic analysis.



Importantly, augmented reality stocks are risky, meaning investors should be willing and able to take risks before investing in them. However, if you&rsquo;re a risk-seeking investor like me, then examine three augmented reality stocks worth considering.



<h2>Vuzix Corp. (VUZI)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/11/vuzi-stock-1-300x169.jpg" alt="Vuzix (VUZI) branded AR glasses"><div>Source: zixia / Shutterstock.com</div></div>Vuzix (NASDAQ:<a href="https://investorplace.com/stock-quotes/vuzi-stock-quote/">VUZI</a>) is a vertically integrated augmented reality company servicing numerous end markets, including security, defense, and enterprise clients. The company was <a href="https://ir.vuzix.com/company-information/company-history#:~:text=Our%20History,UK%3B%20and%20Tokyo%2C%20Japan.">founded in 1997</a>, but its product line only recently started to flourish amid a shift in the consumer environment.



I have much hope for VUZI stock, as I expect it to benefit from lucrative end markets and financial market-based support. Furthermore, Vuzix has formed critical partnerships, allowing it to scale. For example, the company <a href="https://www.vuzix.com/blogs/press-releases/vuzix-and-avegant-announce-strategic-partnership-to-develop-full-color-optical-reference-design-for-ai-enabled-consumer-smart-glasses">recently partnered with Avegant</a> to develop and supply optical modules. And additional partnerships may be in the offing, given Vuzix&rsquo;s nimble yet orchestrated business model.



VUZI stock has <a href="https://investorplace.com/stock-quotes/vuzi-stock-quote/">lost more than 40%</a> in the past six months, largely due to <a href="https://www.marketwatch.com/investing/stock/vuzi/analystestimates">consecutive quarterly earnings misses</a>. However, VUZI stock&rsquo;s forward price-to-sales <a href="https://seekingalpha.com/symbol/VUZI/valuation/metrics">ratio of 7.8x is approximately 65.68%</a> lower than its five-year average, suggesting it is relatively undervalued. Moreover, VUZI stock recently breached its <a href="https://seekingalpha.com/symbol/VUZI/momentum/performance">ten- and 50-day moving averages</a>, indicating that it has reached a support level.



In essence, Vuzix is a contrarian stock with secular prospects. I&rsquo;m bullish here!



<h2>Nextech3D.ai. (NEXCF)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/ai1600c-300x169.jpg" alt="AI stocks"><div>Source: Shutterstock</div></div>Nextech3D.ai (OTCMKTS:<a href="https://investorplace.com/stock-quotes/nexcf-stock-quote/">NEXCF</a>) is a high-quality artificial intelligence (AI) image generator. The company provides strong value propositions, including cost-saving, time efficiency and dynamic image generation. Although in its early stages, Nextech3D.ai might experience tremendous traction in the coming years, allowing it to scale its operations.



Recently, the company proved its worth by delivering a promising first-quarter earnings report. Nextech3D.ai achieved <a href="https://www.accesswire.com/867536/nextech3dai-reports-q1-2024-revenue-of-1024000-with-gross-profit-margin-of-51-or-526212-a-70-jump-over-2023" target="_blank">C$1.02 million</a> (approximately $750,000) in quarterly revenue, illustrating its use case. Additionally, the company&rsquo;s gross profit margin grew by an impressive 70% year-over-year (YOY)to 51%.



I like the look of this company, as it has a bright concept and a margin expansion story. As mentioned before, Nextech3D.ai&rsquo;s first-quarter gross profit margin expanded. However, the company anticipated additional enhancements due to its cost-cutting program. In fact, it forecasts its gross profit margin to settle between 70% and 80% by its next reporting quarter.



Lastly, NEXCF has a sound valuation outlook. For instance, it has a price-to-sales ratio of <a target="_blank" href="https://finance.yahoo.com/quote/NEXCF/key-statistics/">1.84x</a>, which is exceptionally low for a company with Nextech3D.ai&rsquo;s growth potential.



<h2>WiMi Hologram Cloud (WIMI)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/07/wimi-stock-300x169.jpg" alt="Holographic earth and digital pattern. representing WiMi Hologram Cloud Stock"><div>Source: Shutterstock</div></div>WiMi Holdings (NASDAQ:<a href="https://investorplace.com/stock-quotes/wimi-stock-quote/">WIMI</a>) is a holographic augmented reality platform that provides advertising and entertainment services. The company aims to become China&rsquo;s largest holographic ecology, which is no easy feat but lucrative if successful. 



I decided to include WIMI stock on the list as it provides a diversification tool via its exposure to China. Moreover, WiMi Hologram Cloud operates in a highly skilled domain, meaning it is protected by high barriers to entry.



WiMi Hologram Cloud released its full-year earnings report in April, revealing <a href="https://www.sahmcapital.com/news/content/wimi-hologram-cloud-full-year-2023-earnings-cn483-loss-per-share-vs-cn415-loss-in-fy-2022-2024-04-27">CN&yen;585.4m</a> (approximately $80 million) in revenue and a net loss of CN&yen;421.2m (approximately $58 million). Although its financial results are shaky, I anticipate the firm&rsquo;s fundamentals will improve in the next few years as it consolidates its market share via succinct product development.



It is needless to say that WIMI stock has its flaws. However, it provides an excellent early-stage opportunity, especially considering it has a <a href="https://finance.yahoo.com/quote/WIMI/key-statistics/">price-to-sales ratio of merely 0.88x</a>.



On the date of publication, Steve Booyens did not hold (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&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/">Publishing Guidelines</a>.
<div>Steve Booyens co-founded Pearl Gray Equity and Research in 2020 and has been responsible for cross-asset research and PR ever since. Before founding the firm, Steve spent time working in various finance roles in London and South Africa. He holds an MSc in Investment Banking from Queen Mary &ndash; University of London. Furthermore, Steve obtained his CFA Charter on April 26, 2024, and is working toward his Ph.D. in Finance. His articles are published on various reputable web pages such as Seeking Alpha, TipRanks, Yahoo Finance, and Benzinga. Steve&rsquo;s articles on InvestorPlace form an interesting juxtaposition between mainstream opinion and objective theory. Readers can expect coverage on frequently traded stocks, REITs, fixed-income funds, CEFs, and ETFs.</div><h3>More From InvestorPlace</h3>
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<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Pre-market stock movers are worth diving into this morning and we have all of the hottest news worth checking out on Thursday!



Moving stocks this morning are an acquisition deal, a clinical trial launch, earnings reports and more.



Let&rsquo;s get into that news below!



<h2>Biggest Pre-Market Stock Movers: 10 Top Gainers</h2>



<ol><li>Chuy&rsquo;s (NASDAQ:<a href="https://investorplace.com/stock-quotes/chuy-stock-quote/">CHUY</a>) stock is rocketing more than 46% on a <a href="https://www.nasdaq.com/press-release/darden-restaurants-acquire-chuys-holdings-inc-approximately-605-million-transaction">$605 million acquisition deal</a>.</li>



<li>Onconetix (NASDAQ:<a href="https://investorplace.com/stock-quotes/onco-stock-quote/">ONCO</a>) shares are soaring over 43% alongside heavy pre-market trading.</li>



<li>Apollomics (NASDAQ:<a href="https://investorplace.com/stock-quotes/aplm-stock-quote/">APLM</a>) stock is surging more than 25% with strong early morning trading.</li>



<li>Bionomics (NASDAQ:<a href="https://investorplace.com/stock-quotes/bnox-stock-quote/">BNOX</a>) shares are rising over 23% as it <a href="https://www.nasdaq.com/press-release/bionomics-initiates-affirm-1-phase-3-clinical-trial-bnc210-social-anxiety-disorder">kicks off a Phase 3 clinical trial</a>.</li>



<li>Big Tree Cloud (NASDAQ:<a href="https://investorplace.com/stock-quotes/dsy-stock-quote/">DSY</a>) stock is increasing more than 18% with strong pre-market trading.</li>



<li>ZimVie (NASDAQ:<a href="https://investorplace.com/stock-quotes/zimv-stock-quote/">ZIMV</a>) shares are heading over 13% higher without any clear news on Thursday morning.</li>



<li>SAI.TECH Global (NASDAQ:<a href="https://investorplace.com/stock-quotes/sai-stock-quote/">SAI</a>) stock is gaining more than 12% on a <a href="https://www.globenewswire.com/news-release/2024/07/18/2914992/0/en/SAI-TECH-Global-Corporation-Announces-Share-Repurchase-Program.html">share repurchase program</a>.</li>



<li>MultiMetaVerse (NASDAQ:<a href="https://investorplace.com/stock-quotes/mmv-stock-quote/">MMV</a>) shares are climbing over 11% as it continues a recent rally.</li>



<li>Psyence Biomedical (NASDAQ:<a href="https://investorplace.com/stock-quotes/pbm-stock-quote/">PBM</a>) stock is jumping more than 10% despite a lack of news today.</li>



<li>XWELL (NASDAQ:<a href="https://investorplace.com/stock-quotes/xwel-stock-quote/">XWEL</a>) shares are up over 10% this morning.</li>
</ol><h2>10 Top Losers</h2>



<ol><li>Leslies (NASDAQ:<a href="https://investorplace.com/stock-quotes/lesl-stock-quote/">LESL</a>) stock is diving more than 21% on <a href="https://www.nasdaq.com/press-release/leslies-inc-announces-preliminary-third-quarter-fiscal-2024-financial-results-and">preliminary earnings and guidance</a>.</li>



<li>Aptevo Therapeutics (NASDAQ:<a href="https://investorplace.com/stock-quotes/apvo-stock-quote/">APVO</a>) shares are rumbling over 13% after a massive rally yesterday.</li>



<li>Domino&rsquo;s Pizza (NYSE:<a href="https://investorplace.com/stock-quotes/dpz-stock-quote/">DPZ</a>) stock is sliding more than 13% with the release of its <a href="https://ir.dominos.com/static-files/68ecdbfc-bd1c-486a-a574-d6f54b7e5132">Q2 earnings report</a>.</li>



<li>CBL International (NASDAQ:<a href="https://investorplace.com/stock-quotes/banl-stock-quote/">BANL</a>) shares are taking an over 12% beating on Thursday morning as it retreats from a rally yesterday.</li>



<li>WiMi Hologram Cloud (NASDAQ:<a href="https://investorplace.com/stock-quotes/wimi-stock-quote/">WIMI</a>) stock is dropping close to 12% after an unexpected rally yesterday.</li>



<li>Beyond Meat (NASDAQ:<a href="https://investorplace.com/stock-quotes/bynd-stock-quote/">BYND</a>) shares are falling more than 11% on <a href="https://www.wsj.com/articles/beyond-meat-engages-bondholders-for-restructuring-talks-7de6b8ae">restructuring talks with bondholders</a>.</li>



<li>American Rebel (NASDAQ:<a href="https://investorplace.com/stock-quotes/areb-stock-quote/">AREB</a>) stock is decreasing over 11% this morning after rallying on Wednesday.</li>



<li>Aditxt (NASDAQ:<a href="https://investorplace.com/stock-quotes/adtx-stock-quote/">ADTX</a>) shares are slipping more than 10% <a href="https://investorplace.com/2024/07/why-is-aditxt-adtx-stock-up-72-today/">following a rally yesterday</a>.</li>



<li>Stardust Power (NASDAQ:<a href="https://investorplace.com/stock-quotes/sdst-stock-quote/">SDST</a>) stock is dipping over 10% <a href="https://investorplace.com/2024/07/stardust-power-sdst-stock-pops-140-days-after-debut-what-to-know/">after a surprise rally yesterday</a>.</li>



<li>GRI Bio (NASDAQ:<a href="https://investorplace.com/stock-quotes/gri-stock-quote/">GRI</a>) shares close out our pre-market stock movers down more than 9%.</li>
</ol>On the date of publication, William White 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&nbsp;InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.
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	The post <a href="https://investorplace.com/2024/07/todays-biggest-pre-market-stock-movers-10-top-gainers-and-losers-on-thursday-july-18th/">Today's Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Thursday</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

Today's Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Thursday

WiMi Hologram Cloud (WIMI) has released an update. WiMi Hologram Cloud Inc. has reported an increase in its total assets, reaching RMB 1,425.7 mill...

WiMi Hologram Cloud Reports Asset and Liability Growth

WiMi Hologram Cloud reports 1H results

ADTX

APLM

APVO

AREB

BANL

BNOX

BYND

CHUY

FFIE

HOLO

KITT

LESL

MEGL

MLGO

NEXCF

ONCO

SDST

SOBR

VUZI

WIMI

XWEL

ZIMV

Entertainment

Press Releases

WIMI develops glasses product "WiMi HoloAR Lens" to enhance wearable user experience

Early Market Movers: PRSO, PNPN.V, MLGO, API, AGBA more inside – Today's Watchlist!

WiMi Announced a Federated Learning Framework Based on Layered and Sharded Blockchain Technology

WiMi Announced a Machine Learning-Based Blockchain Hybrid Consensus Algorithm

WiMi Hologram Cloud Inc. reports H1 2024 revenue and profit growth, significant cash reserve improvement

WiMi Announced the Cluster-Based Sharding Blockchain Strategy Used for IoT Collaborative Computing

WiMi is Working on a Blockchain-Enhanced Federal Learning Privacy-Preserving Mechanism

WiMi Hologram Cloud Inc. Researches Innovative Cloud Service Trust Interaction Framework Based on Blockchain Technology

WiMi Researches Reinforcement Learning-Based Blockchain Federated Learning Framework to Optimize Model Aggregation Strategy and Security

WiMi Developed a Decentralized Cloud Manufacturing Model Based on Blockchain(BC)

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