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Renowned economist Claudia Sahm expressed concerns over a proposal by a Trump advisor to establish a &#8220;shadow Fed chair,&#8221; potentially undermining current Federal Reserve Chair Jerome Powell.
What Happened: Sahm&#8217;s comment came in response to a post by Heather Long, an Economic columnist for The Washington Post, detailing a plan proposed by Scott Bessent, the founder of hedge fund Key Square Group and Trump advisor. 
According to Long, if Trump wins the upcoming election, he will nominate a new Fed chair in 2025, a year before Powell&#8217;s tenure ends in May 2026. The move is aimed at turning Powell into a &#8220;lame duck&#8221; as markets and CEOs start paying more attention to the &#8220;shadow Fed Chair.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">What could possibly go wrong? Everything! <a href="https://t.co/LUmPvCNxKi">https://t.co/LUmPvCNxKi</a>
&mdash; Claudia Sahm (@Claudia_Sahm) <a href="https://twitter.com/Claudia_Sahm/status/1844122213458510158?ref_src=twsrc%5Etfw">October 9, 2024</a></blockquote>
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Long quoted Bessent stating to Barron&#8217;s Ideas Editor Matt Peterson, &#8220;No one is really going to care what Jerome Powell has to say anymore.&#8221;
See Also: <a href="https://www.benzinga.com/news/24/10/41201553/walmart-displays-new-book-on-kamala-harris-achievements-with-blank-pages-sparks-online-buzz?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Walmart Displays New Book On Kamala Harris&#8217; &#8216;Achievements&#8217; With Blank Pages, Sparks Online Buzz</a>
Why It Matters: The proposal comes amidst Trump&#8217;s <a href="https://www.benzinga.com/news/24/09/40931251/trump-isnt-happy-with-jerome-powells-50-bps-rate-cut-maneuver-i-guess-it-shows-the-economy-is-very-b">public disapproval</a> of the Federal Reserve's recent decision to cut its benchmark interest rate by half a percentage point. Trump suggested this action could indicate a faltering U.S. economy or be politically motivated.
Earlier, Trump had assured that he would not seek to displace Powell before the end of his term. This assurance was made <a href="https://www.benzinga.com/news/24/07/39807207/trump-eyes-jamie-dimon-for-treasury-secretary-rules-out-ousting-fed-chair-jerome-powell">amidst his consideration</a> of JPMorgan Chase &amp; Co CEO Jamie Dimon for the Treasury Secretary position if he wins the forthcoming election.
Trump&#8217;s proposal of presidential control over the Fed's rate decisions had previously drawn criticism, with Bank of America CEO Brian Moynihan <a href="https://www.benzinga.com/news/24/08/40305295/after-trump-proposes-presidential-control-over-feds-interest-rate-decisions-bank-of-america-ceo-says">emphasizing the importance</a> of the Federal Reserve&#8217;s independence.
Image via Shutterstock
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Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

News

Politics

Economics

General

Trump Advisor's Proposal Of 'Shadow Fed Chair' Turning Jerome Powell Into A Lame Duck Gets Slammed By Economist Claudia Sahm: 'What Could Possibly Go Wrong? Everything!'

Former Pfizer Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>) CEO Ian Read and ex-CFO Frank D&#8217;Amelio have <a href="https://www.benzinga.com/markets/equities/24/10/41242925/pfizer-ceo-albert-bourla-set-to-meet-activist-investor-starboard-value-as-pressure-mounts-to-rev">decided to distance themselves</a> from the activist campaign led by Starboard Value at the pharmaceutical giant.
What Happened: Read and D&#8217;Amelio made their decision public on Wednesday. They expressed their full support for Pfizer&#8217;s current CEO, Albert Bourla, in a joint statement issued through an investment bank. The two former executives had been in communication with several directors just before news of Starboard&#8217;s stake emerged, <a href="https://www.cnbc.com/2024/10/10/former-pfizer-ceo-finance-chief-step-back-from-starboards-activist-campaign.html">reported</a> CNBC.
&#8220;We are confident that over time they will deliver shareholder value,&#8221; Read and D&#8217;Amelio said of Pfizer&#8217;s current board and management. This development comes at a time when Pfizer&#8217;s board is dealing with the activist&#8217;s efforts, and just before Starboard&#8217;s Jeff Smith was scheduled to meet with CEO Bourla.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41200679/len-sassaman-is-bitcoin-creator-satoshi-nakamoto-in-hbo-documentary-polymarket-punters-see?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Len Sassaman Is Bitcoin Creator Satoshi Nakamoto In HBO Documentary? Polymarket Punters See High Probability</a>
Why It Matters: Starboard, known for its tenacious activism, has built a <a href="https://www.benzinga.com/markets/equities/24/10/41199793/amid-pfizers-struggles-with-declining-demand-for-covid-19-treatments-activist-investor-starboard">stake of around $1 billion in Pfizer</a>. The fund&#8217;s managing member, Smith, has previously launched campaigns at Autodesk and Salesforce in recent months.
Price Action: Pfizer Inc. stock closed at $30.19 on Wednesday, gaining 3.46% during the regular trading session. In after-hours trading, the stock dipped slightly by 0.20%. Year to date, Pfizer&#8217;s stock has risen by 1.55%, according to <a href="https://www.benzinga.com/pro/">data from Benzinga Pro</a>.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/10/41209505/hurricane-milton-is-floridas-second-storm-in-two-weeks-how-disney-theme-parks-insurance-companie?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Hurricane Milton Is Florida&#8217;s Second Storm In Two Weeks: How Disney, Theme Parks, Insurance Companies Could Be Impacted</a></li>
</ul>
Image Via Shutterstock 
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Equities

Markets

Former Pfizer Executives Ian Read And Frank D'Amelio Support Albert Bourla's Leadership Amid Starboard Activism: 'Will Deliver Shareholder Value'

<h2 class="wp-block-heading">Cannabis Legalization Draws More Ad Dollars Than Presidential Race</h2>
As the 2024 election season heats up, Florida&#8217;s presidential ad spending has taken a sharp decline, with cannabis legalization emerging as the dominant issue in the state.&nbsp;
According to media tracking firm AdImpact, just $1.4 million has been spent on TV ads for the presidential race between Kamala Harris and Donald Trump in Florida—down significantly from previous cycles.&nbsp;
By comparison, the 2016 presidential election saw $55 million in TV ad spending, while 2020 saw $177 million.
<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>
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<h3 class="wp-block-heading">$68 Million Poured Into Cannabis Legalization</h3>
In stark contrast, Amendment 3, which seeks to legalize cannabis, has drawn an enormous $68 million in ad spending—more than any other political cause on the <a href="https://www.benzinga.com/topic/florida-cannabis">Florida ballot</a>.&nbsp;
Local media <a href="https://www.news-journalonline.com/story/news/politics/elections/2024/10/08/florida-presidential-election-amendments-marijuana-abortion-tv-ads/75513759007/">reported</a> Trulieve Cannabis Corp. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TCNNF#OTC">TCNNF</a>), has spent $55 million in support of the amendment through its backing of the group Smart &amp; Safe Florida.&nbsp;
<a href="https://www.benzinga.com/markets/cannabis/24/10/41207561/desantis-state-of-florida-under-fire-for-taxpayer-funded-anti-cannabis-ad-as-new-lawsuit-emerges">Opponents of the amendment</a>, including the Florida Republican Party and No on 3 have spent a combined $11.7 million to defeat the measure.
Read Also:<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41132320/slipping-weed-sales-in-floridas-market-is-this-100m-bet-really-worth-the-hype"> Slipping Weed Sales In Florida&#8217;s Market: Is This $100M Bet Really Worth The Hype?</a>
<h3 class="wp-block-heading">Slashing Budgets&nbsp;</h3>
Florida&#8217;s once-crucial status as a battleground state has faded, with both major parties slashing presidential campaign budgets. Harris has spent only $539,000 on TV ads in the state, while Donald Trump and national Republicans have virtually ignored it, confident they will secure Florida&#8217;s 30 electoral votes.&nbsp;
In contrast, local media reported the <a href="https://www.benzinga.com/markets/cannabis/24/09/41002710/your-cousins-in-florida-like-their-weed-why-hispanic-voters-could-tip-the-scale-for-cannabis-wil">state remains a battleground </a>for social issues. Alongside the cannabis initiative, Amendment 4, which aims to protect abortion rights, has drawn $32.8 million in ad spending.
With over $100 million spent on these two amendments, it's clear that cannabis and abortion rights are <a href="https://www.benzinga.com/markets/cannabis/24/10/41149545/trump-harris-vance-and-walz-agree-on-this-end-cannabis-criminalization-in-florida">capturing the attention—and dollars</a>—of <a href="https://www.benzinga.com/topic/florida-cannabis">Florida </a>voters far more than the presidential race.
Read Next:<a href="https://www.benzinga.com/markets/cannabis/24/09/40712816/what-trump-learned-about-marijuana-that-desantis-did-not-and-why-the-gop-might-become-weed-frien"> What Trump Learned About Marijuana That DeSantis Did Not And Why The GOP Might Become Weed-Friendly</a>

Cannabis

Government

Market Summary

Regulations

Legal

TCNNF

Forget Trump Vs. Harris – Florida's Biggest Election Battle Is Over Cannabis, And It's Costing Millions

Wall Street witnessed a bullish rally on Wednesday, with the S&amp;P 500 and the Dow Jones indices hitting record highs. This surge in the market was driven by optimism ahead of Thursday's Consumer Price Index inflation report and the start of the third-quarter earnings season.
On the day, the Dow Jones Industrial Average closed nearly 1% higher at 42,512, while the S&amp;P 500 increased by 0.7% to finish at 5,792.04. The Nasdaq also rose, ending the day up 0.6% at 2,200.59.
These are the top stocks that gained the attention of retail traders and investors throughout the day:
Palantir Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>) closed the day with a gain of 4.05%, ending at $43.13. The stock hit an intraday high of $43.34, surpassing its previous 52-week high. The company&#8217;s shares have seen a <a href="https://www.benzinga.com/news/24/10/41260312/palantir-technologies-soars-to-new-52-week-highs-whats-going-on">significant surge</a>, marking a 133% year-to-date gain in 2024. Palantir&#8217;s Artificial Intelligence Platform, launched in 2023, is making strides across various industries, from defense to healthcare.
Costco Wholesale Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COST#NASDAQ">COST</a>) shares traded 2.10% higher, closing at $909.10. The company reported net sales of $24.62 billion for September, an 8.9% increase over sales from the same period last year. <a href="https://www.benzinga.com/news/24/10/41261231/costco-reports-september-sales-results-what-to-know">Comparable sales</a>, excluding the impacts from changes in gasoline prices and foreign exchange, were up in the U.S., Canada, and e-commerce.
See Also: <a href="https://www.benzinga.com/markets/equities/24/10/41245350/nvidia-poised-to-overtake-apple-as-worlds-most-valuable-company-how-much-jensen-huangs-company-n?itm_source=parsely-api">Nvidia Poised To Overtake Apple As World&#8217;s Most Valuable Company: How Much Jensen Huang&#8217;s Company Needs To Gain By Wednesday</a>
Boeing Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) shares traded lower by 3.41%, closing at $149.37. The company is facing a potential credit downgrade due to strike risks and complicated finances. A protracted strike by the company&#8217;s machinist union has <a href="https://www.benzinga.com/news/24/10/41257179/boeing-shares-are-trading-lower-wednesday-what-you-need-to-know">disrupted production</a> schedules and is anticipated to cost Boeing over $1 billion per month.
Celsius Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CELH#NASDAQ">CELH</a>) shares traded higher by 6.16%, closing at $30.51. The stock has become a favorite among retail investors and chatter on social media revolved around the stock reaching key support levels and <a href="https://www.benzinga.com/news/24/10/41261919/what-happened-with-celsius-holdings-stock-today">bouncing higher</a>.
Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) shares traded lower by 1.41%, closing at $241.05. The company&#8217;s upcoming unveiling of its dedicated robotaxi product is the first step towards unlocking a multi-trillion dollar market, according to Ark Invest analyst Tasha Keeney. She expects Tesla's upcoming robotaxi unveil and subsequent launch of its autonomous ride-hailing platform to <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41247281/teslas-robotaxi-platform-could-account-for-90-of-ev-giants-enterprise-value-over-th">dominate Tesla's valuation</a>, nearing about 90% of its enterprise value over the next five years.
Photo by Phongphan on Shutterstock
Prepare for the day&#8217;s trading <a href=""Premarket">with top premarket movers and news</a> by Benzinga.
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41243108/peter-schiff-encourages-microstrategy-founder-micheal-saylor-to-borrow-another-4-3b-to-buy?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Peter Schiff Encourages MicroStrategy Founder Micheal Saylor To &#8216;Borrow&#8217; Another $4.3B To Buy Bitcoin That US Plans To Sell: &#8216;Once In A While, The Government Does Something Smart&#8217;</a>
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>

CELH

COST

PLTR

TSLA

Palantir, Costco, Boeing, Celsius Holdings, And Tesla: Why These 5 Stocks Are On Investors' Radars Today

As Hurricane Milton barrels <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41254312/hurricane-milton-descends-on-florida-analysts-warn-of-impact-on-disney-nexteras-flo">through Florida&#8217;s west coast</a> with 120 mph winds, the importance of being prepared has never been clearer.
If you&#8217;re in the Tampa or St. Petersburg areas, where extremely dangerous winds are now spreading, sheltering in place is essential. But what happens if you lose mobile or Wi-Fi coverage during this intense storm?
Here's how Emergency SOS via satellite on your iPhone can be a crucial lifeline in case traditional communication methods fail.
With the possibility of multi-vortex tornadoes and storm surges adding to the danger, now is the time to make sure your iPhone is ready.
How To Prepare Your iPhone For Emergency SOS via Satellite
Step I: Set Up Medical ID and Emergency Contacts
Before the storm hits full force, take a few minutes to update your Medical ID and emergency contacts in the Health app. In case of an emergency, these will be shared with responders, ensuring they have critical information if you're unable to communicate.
Step II: Try The Satellite Demo
Familiarize yourself with the Emergency SOS feature by trying the built-in demo. This will show you how to position your iPhone to connect to a satellite, a crucial skill if you're stuck without a signal during the storm.
Settings > Emergency SOS > scroll down and tap Try Demo.
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="490" height="1008" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/09223256/4d400fb525035fd4800c64de4b9695b8.png" alt="" class="wp-image-588643" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/09223256/4d400fb525035fd4800c64de4b9695b8.png 490w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/09223256/4d400fb525035fd4800c64de4b9695b8-146x300.png 146w" sizes="(max-width: 490px) 100vw, 490px" /><figcaption class="wp-element-caption">Source: Apple</figcaption></figure>
Step III: Charge Your iPhone
Make sure your phone is fully charged and keep a portable battery pack handy. Emergency SOS via satellite will require enough battery power to send crucial information to responders, and the last thing you want is a dead phone in a crisis.
See Also: <a href="https://www.benzinga.com/news/24/10/41242624/elon-musk-vows-to-defend-freedom-of-speech-but-within-the-boundaries-of-the-law-as-x-gets-brazil-gre?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Vows To Defend Freedom Of Speech, But &#8216;Within The Boundaries Of The Law&#8217; As X Gets Brazil Greenlight To Resume Operations</a>
How To Use Emergency SOS via Satellite
Step I: Always try calling emergency services first, even if there's no coverage.
Step II: If the call doesn't go through, tap "Emergency Text via Satellite." Follow the on-screen prompts to answer a few quick questions about your situation.
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="760" height="920" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/09214728/ios-17-iphone-14-pro-phone-no-connection-emergency-text.png" alt="" class="wp-image-588622" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/09214728/ios-17-iphone-14-pro-phone-no-connection-emergency-text.png 760w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/09214728/ios-17-iphone-14-pro-phone-no-connection-emergency-text-248x300.png 248w" sizes="(max-width: 760px) 100vw, 760px" /><figcaption class="wp-element-caption">Source: Apple</figcaption></figure>
Step III: Your iPhone will guide you on how to position it to connect with a satellite. Once connected, your location, medical information, and the nature of your emergency will be shared with emergency responders.
Step IV: You can also choose to alert your emergency contacts and share your location and emergency details with them.
Subscribe to the <a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a> to get all the latest tech developments delivered to your inbox.
Why It Matters: Apple&#8217;s satellite messaging feature has also emerged as a crucial lifeline for survivors in the <a href="https://www.benzinga.com/markets/equities/24/09/41096388/hurricane-helene-102-dead-2-million-without-power-after-storm-destruction-in-6-states">aftermath of Hurricane Helene</a>.
<a href="https://www.benzinga.com/news/24/07/39768442/6-new-hidden-iphone-features-you-probably-havent-discovered-yet-on-ios-18">Introduced via the</a> iOS 18 update, the Messages via Satellite feature for iPhone 14 and later models allows users to stay connected even when they're off the grid without cellular or Wi-Fi coverage.
However, this messaging feature is only for non-emergency contacts. You can <a href="https://www.benzinga.com/news/24/09/41108345/apples-satellite-messaging-feature-emerges-as-lifeline-after-hurricane-helene-leaves-thousands-witho">read about the feature here</a>.
Both the features are free of cost for two years after activiating.
Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:
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<li><a href="https://www.benzinga.com/news/24/09/41042433/elon-musks-x-suspends-5-3m-accounts-flags-10-6m-posts-in-first-transparency-report-amid-user-and-adv?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk's X Suspends 5.3M Accounts, Flags 10.6M Posts In First Transparency Report Amid User And Advertiser Decline</a></li>
</ul>
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Tech

Learn How To Activate iPhone Emergency SOS — As Hurricane Milton Approaches, Your Safety May Depend On It

U.S. Representative Alexandria Ocasio-Cortez (D-N.Y.) has staunchly defended Federal Trade Commission Chair Lina Khan, amidst calls for her removal.
What Happened: On Wednesday, Ocasio-Cortez responded to a post from Semafor domestic policy &amp; politics reporter Joseph-Zeballos-Roig suggesting that Vice President Kamala Harris should not retain Lina Khan as FTC Chair. The post quoted billionaire Mark Cuban expressing his disagreement with Khan&#8217;s approach to breaking up big tech companies.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Let me make this clear, since billionaires have been trying to play footsie with the ticket: Anyone goes near Lina Khan and there will be an out and out brawl. And that is a promise. She proves this admin fights for working people. It would be terrible leadership to remove her. <a href="https://t.co/ba3nUY35Cg">https://t.co/ba3nUY35Cg</a>
&mdash; Alexandria Ocasio-Cortez (@AOC) <a href="https://twitter.com/AOC/status/1844034727935988155?ref_src=twsrc%5Etfw">October 9, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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See Also: <a href="https://www.benzinga.com/news/24/10/41242634/ron-desantis-says-kamala-harris-is-delusional-for-trying-to-say-his-sole-focus-on-people-of-florida?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Ron Desantis Says Kamala Harris Is &#8216;Delusional&#8217; For Trying To Say His Sole Focus On People Of Florida Is</a>
Ocasio-Cortez said on X, &#8220;Let me make this clear, since billionaires have been trying to play footsie with the ticket: Anyone goes near Lina Khan and there will be an out and out brawl. And that is a promise.&#8221;
She further emphasized Khan&#8217;s importance to the administration, stating, &#8220;She proves this admin fights for working people. It would be terrible leadership to remove her.&#8221;
Sen. Bernie Sanders (I-Vt.) publicly disagreed with Mark Cuban&#8217;s call to replace FTC Chair Khan if Vice President Harris became president. Sanders praised Khan as &#8220;the best FTC Chair in modern history&#8221; for her work fighting corporate greed and monopolies.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">.<a href="https://twitter.com/mcuban?ref_src=twsrc%5Etfw">@mcuban</a> is wrong. Lina Khan is the best FTC Chair in modern history. By taking on corporate greed &amp; illegal monopolies, Lina is doing an exceptional job preventing large corporations from ripping-off consumers &amp; exploiting workers. Thanks <a href="https://twitter.com/linakhanFTC?ref_src=twsrc%5Etfw">@linakhanFTC</a> for what you are doing. <a href="https://t.co/IYJP3LhGsP">https://t.co/IYJP3LhGsP</a>
&mdash; Bernie Sanders (@SenSanders) <a href="https://twitter.com/SenSanders/status/1843733298960576652?ref_src=twsrc%5Etfw">October 8, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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Cuban had touched on Khan&#8217;s leadership to Semafor earlier in the week. He said, &#8220;If it were me, I wouldn't,&#8221; on continuing Khan as FTC chair. &#8220;By trying to break up the biggest tech companies, you risk our ability to be the best in artificial intelligence."
Why It Matters: Khan has been at the forefront of <a href="https://www.benzinga.com/news/large-cap/24/10/41256923/cvs-unitedhealth-request-ftc-chair-recusal-amid-ongoing-pharmacy-benefit-managers-lawsuit">antitrust actions</a> against major corporations. In September, the FTC filed a formal complaint against three major pharmacy benefit managers (PBMs)—CVS Health Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVS#NYSE">CVS</a>), Cigna Corp. (CI) Express Scripts, and UnitedHealth Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNH#NYSE">UNH</a>) Optum—for allegedly engaging in unfair and anti-competitive practices. The complaint accuses the PBMs of inflating the list price of insulin medications, thereby forcing patients to pay higher costs for life-saving insulin.
These PBMs, referred to as the Big Three, administer around 80% of prescriptions in the U.S. The FTC&#8217;s actions under Khan&#8217;s leadership have been seen as a fight for working people, a stance that Ocasio-Cortez and Sanders strongly support.
Jim Cramer of CNBC's "Mad Money" criticized Khan for her anti-merger policies last year, arguing they harm investor portfolios and stock valuations. He called her a &#8220;<a href="https://www.benzinga.com/analyst-ratings/analyst-color/23/12/36295790/jim-cramer-slams-ftc-chair-lina-khans-policies-for-hampering-investor-returns-one-w">one-woman wrecking crew</a>,&#8221; asserting her stance limits competition and favors only the wealthiest companies.
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

Bernie Sanders And AOC Clap Back At Mark Cuban's Push for FCC Chief Shakeup: 'Anyone Goes Near Lina Khan And There Will Be An Out And Out Brawl'

Gary Black, managing partner at Future Fund LLC, has highlighted what he sees as an attractive valuation for Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>), despite the company facing increased <a href="https://www.benzinga.com/markets/equities/24/10/41244481/google-cries-foul-as-doj-moves-to-break-up-search-giant-calls-recommendations-radical-as-antitru">scrutiny from the U.S. Department of Justice</a>. 
What Happened: In a recent post on X (formerly Twitter), Black noted Google's modest price-to-earnings (P/E) ratio for 2024, emphasizing its growth potential. However, he also pointed out a looming threat from emerging AI-powered competitors.
The Justice Department recently filed a 32-page court document outlining potential remedies to address Google's dominance in the search market. 
Despite the legal challenges, Black remains bullish on Google's financial outlook. He wrote, &#8220;$GOOG remains relatively inexpensive among growth stocks at a 2024 P/E of 20.7x and 2025 P/E of 18.3x and +15% projected earnings growth between 2024-2029.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24GOOG&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$GOOG</a> -1.6% today in an up market (NDX +0.6%). Ironic that Justice may attempt to break up GOOG search under anti-trust provisions just as GOOG search is losing share to ChatGPT, Copilot and other AI language models. The Justice Department is considering asking a federal judge…
&mdash; Gary Black (@garyblack00) <a href="https://twitter.com/garyblack00/status/1844121748998144444?ref_src=twsrc%5Etfw">October 9, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/markets/equities/24/10/41244462/palantirs-shyam-sankar-says-ai-is-experiential-and-if-you-pay-consultants-to-help-you-think-abou?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Palantir&#8217;s Shyam Sankar Says AI Is Experiential And If You Pay Consultants To Help You Think About Deployment &#8216;You&#8217;re Just Lighting Money On Fire&#8217;</a>
Why It Matters: The agency is considering asking a federal judge to order the breakup of certain parts of Google's business, which could have far-reaching implications for the tech giant. This action comes as AI-driven competitors, such as OpenAI&#8216;s ChatGPT and Microsoft&#8216;s Copilot, gain ground in the search space.
The DOJ's document proposes &#8220;behavioral and structural remedies&#8221; aimed at preventing Google from leveraging its suite of products, such as Chrome, Play Store, and Android, to favor its search business and related products. It also includes provisions targeting Google&#8217;s use of artificial intelligence in search, <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41257551/google-analysts-react-to-dojs-proposed-remedies-for-search-dominance-we-continue-to">underscoring the growing significance of AI in the industry</a>.
Among the remedies, the DOJ suggested that Google could be forced to provide access to the data it uses to build its search results and AI models. The judge overseeing the case, Amit Mehta, is expected to rule on the remedies by August 2025, after a two-week <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41257551/google-analysts-react-to-dojs-proposed-remedies-for-search-dominance-we-continue-to">remedies hearing in April 2025</a>.
However, Black warned of the potential threat posed by AI-based language models like ChatGPT and Copilot. &#8220;The biggest risk is that ChatGPT, Copilot, and other AI language models continue to take search share from GOOG, even though there's been little loss in search revenue share to date,&#8221; Black noted.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41220500/elon-musk-says-potential-doge-department-under-a-trump-administration-will-be-a-garbage-co?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Says Potential &#8216;DOGE&#8217; Department Under A Trump Administration Will Be A &#8216;Garbage Collector&#8217; For Regulations That Don&#8217;t Make Sense</a></li>
</ul>
Image Via Shutterstock 
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Global

GOOG

GOOGL

Gary Black Finds Google-Parent Alphabet Attractively Priced Amid Possible DOJ Push To Break The Company: 'Relatively Inexpensive Among Growth Stocks'

On Wednesday, Cathie Wood-led Ark Invest made a significant move in the semiconductor sector, with a notable purchase of shares in Advanced Micro Devices Inc (AMD). This trade comes amidst a dynamic landscape in the semiconductor industry, with AMD showing resilience.
The AMD Trade
On Wednesday, ARK Autonomous Technology &amp; Robotics ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKQ#BATS">ARKQ</a>) and ARK Space Exploration &amp; Innovation ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKX#BATS">ARKX</a>) purchased a total of 3,000 shares of AMD, valued at approximately $513,060 based on the closing price of $171.02 on the day of the trade. This move comes in the wake of a <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41235547/nvidia-amd-lead-the-pack-broadcom-stable-intel-falters-analysts-latest-take">KeyBanc analyst&#8217;s mixed quarterly supply chain findings</a> for the semiconductor sector, with AMD standing out in the pack.
The analyst noted sustained strength in traditional server and AI, with AMD&#8217;s competitor, Blackwell from Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), set to launch in the fourth quarter without further delays.
Nvidia, despite concerns over AI spending, has continued to defy expectations and approached Apple&#8217;s market capitalization.
Recently, AMD CEO Lisa Su highlighted the <a href="https://www.benzinga.com/news/24/09/40980388/amd-chief-predicts-custom-chips-will-outperform-gpus-sees-shift-in-ai-chip-demand-report">potential shift</a> toward custom AI chips offering greater efficiency and lower costs, hinting at competition with Nvidia. While Nvidia remains dominant with GPUs for AI and gaming, Su emphasized the future will involve diverse chip architectures, with AMD focusing on mainstream GPUs and data center growth.
See Also: <a href="https://www.benzinga.com/markets/equities/24/10/41244462/palantirs-shyam-sankar-says-ai-is-experiential-and-if-you-pay-consultants-to-help-you-think-abou?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Palantir&#8217;s Shyam Sankar Says AI Is Experiential And If You Pay Consultants To Help You Think About Deployment &#8216;You&#8217;re Just Lighting Money On Fire&#8217;</a> 
Other Key Trades:
Ark Invest&#8217;s ARKG and ARKK funds bought a total of 425,213 shares of Recursion Pharmaceuticals Inc (RXRX). The ARKG fund also purchased 17,542 shares of 10X Genomics Inc (TXG). 
Meanwhile, ARKQ sold shares of Markforged Holding Corp (MKFG) and bought shares of Blade Air Mobility Inc (BLDE). The ARKX fund followed suit, selling shares of Markforged and buying shares of Blade Air Mobility.
Image via Wikimedia Commons
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<li> <a href="https://www.benzinga.com/markets/equities/24/10/41245350/nvidia-poised-to-overtake-apple-as-worlds-most-valuable-company-how-much-jensen-huangs-company-n?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Nvidia Poised To Overtake Apple As World&#8217;s Most Valuable Company: How Much Jensen Huang&#8217;s Company Needs To Gain By Wednesday</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>

ETFs

ARKQ

ARKX

NVDA

Cathie Wood's Ark Invest Swoops In To Buy AMD Shares As Nvidia Looms Large

In a recent development, Georgia Republican Rep. Marjorie Taylor Greene (R-Ga.) has come under scrutiny for propagating conspiracy theories about the government&#8217;s ability to manipulate severe weather events such as hurricanes.
What Happened: On Wednesday, Greene took to X and cited the National Oceanic and Atmospheric Administration's (NOAA) reports on weather modification projects as proof that weather could be manipulated. 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Everyone keeps asking, "who is they?" Well some of them are listed on NOAA, as well as most of the ways weather can be modified, because they are required to report it to the Secretary of Commerce by the Weather Modification Act of 1972. The NOAA government website has a… <a href="https://t.co/UaNZCiZ8es">pic.twitter.com/UaNZCiZ8es</a>
&mdash; Marjorie Taylor Greene &#x1f1fa;&#x1f1f8; (@mtgreenee) <a href="https://twitter.com/mtgreenee/status/1844056573892579788?ref_src=twsrc%5Etfw">October 9, 2024</a></blockquote>
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Previously she also shared similar theories in another post on X on Tuesday.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">"Marjorie Taylor Greene was right. Yes, scientists do control the weather."<a href="https://t.co/7SvNdlygkP">https://t.co/7SvNdlygkP</a>
&mdash; Marjorie Taylor Greene &#x1f1fa;&#x1f1f8; (@mtgreenee) <a href="https://twitter.com/mtgreenee/status/1843651263193591936?ref_src=twsrc%5Etfw">October 8, 2024</a></blockquote>
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Greene has been disseminating these theories on the internet, coinciding with the approach of Hurricane Milton towards Florida. Her posts have ignited worries about the dissemination of misinformation and its potential impact on people&#8217;s safety decisions, <a href="https://thehill.com/policy/technology/4925267-greene-takes-fire-for-sharing-for-remarks-about-the-weather/">reported</a> The Hill.
Starting from October 3, Greene&#8217;s posts have drawn criticism from her Republican peers and President Joe Biden. In his Wednesday address, Biden referred to Greene&#8217;s assertions as part of a wider conversation on misinformation.
Biden denounced Greene for disseminating what he termed as &#8220;irresponsible&#8221; and &#8220;beyond ridiculous&#8221; fabrications about weather control. He stated that such claims are eroding trust in rescue and recovery efforts.
Greene&#8217;s social media activities include sharing a map by influencer Matt Wallace, implying that Hurricane Helene was deliberately directed towards Republican-leaning counties.
Her posts have been countered by fellow Republicans, including Rep. Carlos Gimenez (R-Fla.) and Rep. Chuck Edwards (R-N.C.), who have stressed that such large-scale weather control is beyond the reach of current technology.
&#8220;Humans cannot create or control hurricanes,&#8221; said Gimenez on social media. &#8220;Anyone who thinks they can, needs to have their head examined.&#8221;
See Also: <a href="https://www.benzinga.com/markets/cannabis/24/10/41214802/joe-biden-quick-question-before-you-go-are-those-cannabis-pardons-from-2-years-ago-still-on?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Joe Biden, Quick Question Before You Go: Are Those Cannabis Pardons From 2 Years Ago Still On?</a>
Why It Matters: This controversy arises in the context of Florida bracing for <a href="https://www.benzinga.com/markets/equities/24/10/41209505/hurricane-milton-is-floridas-second-storm-in-two-weeks-how-disney-theme-parks-insurance-companie">its second hurricane in less than two weeks</a>. Hurricane Milton, which was <a href="https://www.benzinga.com/news/24/10/41231817/hurricane-milton-dire-warning-if-you-choose-to-stay-youre-going-to-die-officials-encourage-writing-n">downgraded to a Category 4 storm</a> is expected to hit some of Florida's most populous areas, including the Tampa Bay area. 
Greene has previously faced criticism for promoting controversial ideas, such as a 2018 Facebook post about &#8220;Jewish space lasers,&#8221; which invoked antisemitic tropes. Greene's embrace of conspiracy theories has <a href="https://www.benzinga.com/news/24/03/37525135/marjorie-taylor-greene-tells-former-bbc-host-to-f-off-at-trumps-mar-a-lago">drawn backlash</a>, including from Republicans.
The spread of misinformation during such critical times could potentially impact people&#8217;s decisions about their safety and undermine confidence in rescue and recovery efforts.
Photo courtesy: Shutterstock
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Marjorie Taylor Greene Sticks To Weather Modification Theories Amid Ongoing Hurricane Emergency — Gets Head Examination Advice From Florida Republican

Publicly traded Flora Growth Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FLGC#NASDAQ">FLGC</a>) is closely monitoring Germany's newly approved legislation on industrial hemp, viewing it as a potential game-changer for the <a href="https://www.benzinga.com/topic/europe-cannabis">European market</a>.
Germany has recently updated its regulatory framework. The changes <a href="https://www.benzinga.com/markets/cannabis/24/07/39840487/green-wave-in-germany-now-includes-hemp-new-bill-promotes-industrial-production">introduced</a> by Minister of Food and Agriculture Cem Özdemir have liberalized industrial hemp cultivation, <a href="https://www.benzinga.com/markets/cannabis/24/07/39840487/green-wave-in-germany-now-includes-hemp-new-bill-promotes-industrial-production">removing</a> previous barriers such as the &#8220;abuse clause&#8221; that limited the industry's growth. The clause stipulated that industrial hemp was only to be allowed if misuse for intoxication purposes was ruled out.
Flora Growth, which is based in Florida, is an established player in the hemp space with brands like JustCBD and Vessel. The company is eager to take advantage of the opportunity these changes are bringing. 
With its expertise in cannabinoid extraction and a successful portfolio of<a href="https://www.benzinga.com/markets/cannabis/20/09/17664481/will-low-thc-cannabis-be-the-next-big-trend-1"> low-THC hemp</a> products, Flora sees Germany as the next frontier. 
The company plans to bring its products to the European market, targeting <a href="https://www.benzinga.com/markets/cannabis/24/09/40824983/20m-germans-could-benefit-from-medical-marijuana-but-most-struggle-to-find-prescribing-doctors">German consumers</a> as demand grows in this newly accessible sector.
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<li>Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/07/39840487/green-wave-in-germany-now-includes-hemp-new-bill-promotes-industrial-production">Green Wave In Germany Now Includes Hemp, New Bill Promotes Industrial Production</a></li>
</ul>
The new legislation allows for easier cultivation, processing, and distribution of industrial hemp. Thus, it is expected to bolster Germany's emerging hemp industry. Industrial hemp, containing less than 0.3% THC, is valued for its <a href="https://www.benzinga.com/markets/cannabis/24/10/41238140/crafting-a-mixed-martial-arts-plant-texas-scientists-develop-drought-resistant-hemp-strain">wide </a><a href="https://www.benzinga.com/markets/cannabis/24/08/40418137/industrial-hemps-14b-projected-growth-an-investment-opportunity-too-good-to-miss">range of uses</a>, including textiles, wellness products, and other applications. The global market of industrial hemp market is<a href="https://www.benzinga.com/markets/cannabis/24/08/40418137/industrial-hemps-14b-projected-growth-an-investment-opportunity-too-good-to-miss"> projected to grow</a> by $13.90 billion from 2024 to 2028
Flora's positioning in the hemp cannabinoid space aligns well with these opportunities.
Clifford Starke, chairman and CEO of Flora Growth, <a href="https://www.newsfilecorp.com/release/226095/Flora-Growth-Corp.-Applauds-Germanys-New-Industrial-Hemp-Legislation-Plans-to-Leverage-Expertise-for-Market-Entry">expressed</a> the company's enthusiasm for Germany's legislative shift: "We believe that Germany&#8217;s progressive move to liberalize industrial hemp cultivation marks a pivotal moment for the European hemp industry. As a company with deep experience in cannabinoid extraction and product development, we are excited to bring our expertise to Germany."
In a statement, Flora announced that the company is actively engaging with local partners and preparing for market entry as the final details of Germany's hemp regulations take shape. 
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</ul>
Cover photo by <a href="https://www.pexels.com/es-es/foto/marcar-cerca-del-edificio-1128416/">Niki Nagy </a>via Pexels

 FLGC

Nasdaq-Listed Cannabis Company Eyes Germany's New Hemp Legislation With Intense Interest

Pop icon Taylor Swift has donated $5 million to Feeding America to support their disaster relief initiatives in the wake of Hurricanes Helene and Milton.
What Happened: Feeding America announced Swift&#8217;s substantial contribution on Wednesday. The funds are earmarked for relief efforts in communities impacted by the recent hurricanes.
Feeding America&#8217;s CEO, Claire Babineaux-Fontenot, expressed gratitude for Swift&#8217;s donation, stating it will &#8220;help communities rebuild and recover, providing essential food, clean water, and supplies to people affected by these devastating storms.&#8221;
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="938" height="601" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/09201421/Screenshot-2024-10-10-at-09.13.34.png" alt="" class="wp-image-588587" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/09201421/Screenshot-2024-10-10-at-09.13.34.png 938w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/09201421/Screenshot-2024-10-10-at-09.13.34-300x192.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/09201421/Screenshot-2024-10-10-at-09.13.34-768x492.png 768w" sizes="(max-width: 938px) 100vw, 938px" /></figure>
Screenshot From Instagram Account of Feeding America CEO Claire Babineaux-Fontenot
The announcement of Swift&#8217;s donation came just hours before Hurricane Milton was predicted to hit the west coast of the Florida peninsula. The storm is expected to bring historic storm surges, heavy rainfall, and record-breaking flash and urban flooding, <a href="https://thehill.com/blogs/in-the-know/4925400-taylor-swift-donates-5-million-feeding-america-hurricane-relief/">reported</a> The Hill.
Feeding America has been actively involved in recovery efforts since Hurricane Helene caused catastrophic damage to Southern states less than two weeks ago. The organization has dispatched 140 truckloads of relief supplies to 11 food banks in Florida, North Carolina, South Carolina, Georgia, and Tennessee.
See Also: <a href="https://www.benzinga.com/news/24/10/41242634/ron-desantis-says-kamala-harris-is-delusional-for-trying-to-say-his-sole-focus-on-people-of-florida?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Ron Desantis Says Kamala Harris Is &#8216;Delusional&#8217; For Trying To Say His Sole Focus On People Of Florida Is Selfish Amid Phone Call Row</a>
Why It Matters: Swift&#8217;s donation comes at a crucial time as Florida braces for the impact of Hurricane Milton, the second hurricane to hit the state in less than two weeks. <a href="https://www.benzinga.com/news/24/10/41231817/hurricane-milton-dire-warning-if-you-choose-to-stay-youre-going-to-die-officials-encourage-writing-n">Evacuation orders</a> are in place for multiple Florida counties, with officials issuing dire warnings for those who choose to stay home.
According to <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41254312/hurricane-milton-descends-on-florida-analysts-warn-of-impact-on-disney-nexteras-flo">analysts</a>, sectors including insurance, regional banks, fitness centers, utilities, hospitals, and theme parks could be negatively impacted by Hurricane Milton. The storm is predicted to have a significant impact on Florida&#8217;s most populous areas, including the Tampa Bay area.
Furthermore, Goldman Sachs estimates that Hurricane Milton could cause an adverse <a href="https://www.benzinga.com/general/entertainment/24/10/41229099/disney-faces-150m-200m-blow-from-hurricane-milton-attendance-set-to-drop-6-says-goldman-sac">impact of $150 million to $200 million</a> on Walt Disney World's Parks and experiences in the current quarter. This potential loss is primarily attributed to the expected drop in domestic attendance at Walt Disney World, with projections now suggesting a 6% year-over-year decline in attendance growth, compared to an earlier estimate of a 2% decline. 
Image via Shutterstock
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

Taylor Swift Donates $5M Toward Hurricane Recovery: 'Contribution Will Help Communities Rebuild'

WLDS

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

WLDSW

INHD

Several rappers have bought leading cryptocurrency Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) over the years, but fewer have bought meme coins like Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>), which is loved by billionaires like Mark Cuban <a href="https://www.benzinga.com/markets/cryptocurrency/23/11/35860106/if-you-invested-100-in-dogecoin-when-elon-musk-first-tweeted-about-the-crypto-heres-how-mu">and Elon Musk.</a>
One rapper took a chance on Dogecoin in 2021, but his timing may have been among the worst.
What Happened: Logic, 50 Cent and Nas, who also<a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41204472/if-you-invested-1000-in-bitcoin-when-rap-legend-nas-sang-that-he-was-coin-based-basically-"> invested in cryptocurrency companies,</a> are among the rappers who have bought Bitcoin or rapped about the cryptocurrency over the years.
Rapper Meek Mill announced on May 4, 2021, that he bought Dogecoin.
"I just grabbed some doge I'm tired of missing out," Meek Mill <a href="https://x.com/MeekMill/status/1389621286536634368">tweeted</a>.  
The rapper spent $50,000 on 92,411 Dogecoin according to a <a href="https://www.xxlmag.com/meek-mill-dogecoin-stock-50000-dollars/">report </a>from XXL Mag.
Meek Mill <a href="https://x.com/MeekMill/status/1390099342720176134">tweeted </a>a day later "what's up wit doge coin" asking his followers why the cryptocurrency was moving, sharing a screen shot from his account.
Dogecoin traded between $0.400800 and $0.65998 on May 4, 2021, the date of the rapper's purchase. No matter when investors bought Dogecoin they would be down if they chose to follow the rapper.
A $1,000 investment could have bought 1,650.17 DOGE on May 4 based on the highest price of the day. The $1,000 investment would be down 82% since the rapper's tweet.
While it is unknown if Meek Mill still holds any Dogecoin, the rapper would be down on his position and likely took a loss if he sold, depending on when his sale was made.
Read Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/41105426/if-you-invested-1-000-in-dogecoin-when-mark-cuban-and-the-dallas-mavericks-welcomed-the-me">If You Invested $1,000 In Dogecoin When Mark Cuban And The Dallas Mavericks Welcomed The Meme Crypto, Here&#8217;s How Much You&#8217;d Have Now</a>
Meek Mill's Bad Timing: Dogecoin went on to hit all-time highs just days after the rapper made the purchase. The all-time high was $0.7376 on May 8, a date which coincided with Musk appearing on "Saturday Night Live" and<a href="https://www.benzinga.com/markets/cryptocurrency/22/05/27064582/today-is-the-one-year-anniversary-of-elon-musk-on-snl-and-dogecoin-all-time-highs-heres-wh"> mentioning the meme coin.</a>
The May 4, 2021 tweet signaled Meek Mill was tired of missing out and his timing may have missed out on some huge profits.
On Jan. 8, 2021, Meek Mill <a href="https://x.com/MeekMill/status/1347577344609955842">tweeted </a>about cryptocurrency.
"I need everybody that rock wit me to learn about stocks and crypto currency!" the rapper tweeted.
The rapper didn't learn about cryptocurrency — or at least Dogecoin — as his first investment wouldn't come for four more months.
Dogecoin traded between $0.009177 and $0.010867 on Jan. 8, 2021.
A $1,000 investment by the rapper at that day's high price could have bought 92,021.72 DOGE. The Dogecoin investment would be worth $10,011.96, up 901.2%.
If Meek Mill bought the same $50,000 in Dogecoin at the high price on Jan. 8, 2021, he could have bought 4,601,085.86 DOGE.
That same investment would be worth $500,598.14 today and would have been worth $3,393,760.93 at the coin's all-time high.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/general/entertainment/24/07/39870013/elon-musk-reacts-as-rapper-meek-mill-flexes-his-all-black-cybertruck-ahead-of-his-new-song-">Elon Musk Reacts As Rapper Meek Mill Flexes His All-Black Cybertruck Ahead Of His New Song Named After Tesla&#8217;s EV Truck</a></li>
</ul>
Photo: Meek Mill, photo by Jake Giampa via Shutterstock

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

Cryptocurrency

Entertainment

Education

$BTC

$DOGE

If You Invested $1,000 In Dogecoin When Rapper Meek Mill 'Grabbed Some Doge,' Here's How Much You'd Have Today

Rosie Mattio, founder and CEO of Mattio Communications, and Jason Erkes, chief communications officer at Cresco Labs (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CRLBF#OTC">CRLBF</a>), both agreed that throughout their many years in public affairs and communications, they'd never seen anything quite like Florida's cannabis legalization campaign in support of <a href="https://www.benzinga.com/markets/cannabis/24/04/38034138/florida-supreme-court-approves-cannabis-legalization-proposal-for-november-election-in-blow-to-d" target="_blank" rel="noreferrer noopener">Amendment 3</a>.
"Massive…massive," said Erkes at the <a href="https://www.benzinga.com/events/cannabis-conference/">Benzinga Cannabis Capital Conference</a> on Oct. 9. The panel was &#8220;One Month Out: Inside Florida&#8217;s Record-Breaking Adult-Use Legalization Effort.&#8221;
Erkes noted the <a href="https://drupal-cloudfront.benzinga.com/topic/smart-safe-florida" target="_blank" rel="noreferrer noopener">Smart &amp; Safe Florida</a>&nbsp;campaign raised at least $100 million to get the word out.&nbsp;Indeed, Amendment 3 is the best-funded cannabis legalization amendment in American history, surpassing the previous record set by&nbsp;<a href="https://www.benzinga.com/markets/cannabis/20/04/15926183/two-years-after-prop-64-california-cannabis-industry-at-a-crossroads" target="_blank" rel="noreferrer noopener">California's 2016 Proposition 64.</a>
Amendment 3 will go before Florida voters this coming&nbsp;<a href="https://www.benzinga.com/topic/2024-election" target="_blank" rel="noreferrer noopener">November</a>.
<h1 class="wp-block-heading">Getting The Word Out Like None Other</h1>
One of the campaign's strengths, said Mattio, was that it meets people where they are — in the towns and communities across Florida — and the reception has been positive. People relate to issues such as criminal justice reform and freedom of choice. They don't necessarily need to be cannabis consumers to get behind these basic concepts, Mattio said. Not to mention that medical marijuana has been legal in Florida for a decade and its success "has been an example of what a good program looks like," she added.
Mattio and Erkes had the highest praise for Smart &amp; Safe's nearly 800 satellite offices all over Florida, the thousands of lawn signs, the campaign's 13 TV ads and of course making sure people were registered to vote. "It's a political campaign, after all," Erkes said.
<h1 class="wp-block-heading">Speaking Of TV Ads &nbsp;</h1>
Panel moderator Bryna Dahlin asked about the recent lawsuits popping up in Florida. There's the <a href="https://www.benzinga.com/markets/cannabis/24/10/41156781/trulieve-sues-florida-gop-for-defamation-over-false-and-misleading-claims-as-cannabis-legalizati">defamation lawsuit</a> launched by Trulieve Cannabis Corp. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TCNNF#OTC">TCNNF</a>) accusing the Florida Republican Party of intentionally misleading voters with a deceptive TV campaign ad. 
That lawsuit alleges that the TV ad in question misleads voters by implying that only large cannabis companies, such as Trulieve will benefit from marijuana legalization. 
Then there's Florida state Sen. Jason Pizzo&nbsp;(D) who is <a href="https://www.benzinga.com/markets/cannabis/24/10/41207561/desantis-state-of-florida-under-fire-for-taxpayer-funded-anti-cannabis-ad-as-new-lawsuit-emerges">suing the State of Florida</a> for misusing taxpayer dollars to fund an ad produced by the&nbsp;Florida Department of Transportation opposing Amendment 3.
"I generally don't think it's a good idea to poke the bear," said Erkes, but in this case "one way to discredit a false narrative is to launch a lawsuit." In fact, it's a great PR campaign, he added.
Now Read: 
<ul>
<li>EXCLUSIVE: <a href="https://www.benzinga.com/markets/cannabis/24/10/41258536/exclusive-cannabis-companies-must-get-more-juice-from-the-same-squeeze-says-cresco-labs-ceo-as-c">Cannabis Companies Must &#8216;Get More Juice From The Same Squeeze,&#8217; Says Cresco Labs CEO As Challenges Persist</a></li>
</ul>
Photo: Benzinga Cannabis Capital Conference, Oct. 9, 2024, Photo by Wendy Davis

Events

Exclusives

CRLBF

EXCLUSIVE: 'Poking The Bear' As Florida's Contentious Cannabis Legalization Vote Looms

For meteorologists who study extreme weather events like Hurricane Milton — and Hurricane Helene just two weeks ago — the most frightening aspect of the back-to-back storms <a href="https://www.benzinga.com/news/24/10/41257552/how-strong-is-milton-what-to-expect-from-hurricane-categories-1-through-5">isn&#8217;t just strength</a>. 
It&#8217;s speed. 
The fact that Milton mutated from tropical storm to Category 5 hurricane in under 24 hours stunned NBC6 Miami&#8217;s John Morales to the point where he held back tears. Watch the video<a href="https://twitter.com/JohnMoralesTV?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor"> in his X account</a>.
<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">I debated whether to share this. I did apologize on the air. But I invite you to read my introspection on <a href="https://twitter.com/BulletinAtomic?ref_src=twsrc%5Etfw">@BulletinAtomic</a> of how extreme weather &#x1f4c8; driven by global warming has changed me. Frankly, YOU should be shaken too, and demand <a href="https://twitter.com/hashtag/ClimateActionNow?src=hash&amp;ref_src=twsrc%5Etfw">#ClimateActionNow</a>. <a href="https://t.co/09vxgabSmX">https://t.co/09vxgabSmX</a> <a href="https://t.co/GzQbDglsBG">https://t.co/GzQbDglsBG</a>
&mdash; John Morales (@JohnMoralesTV) <a href="https://twitter.com/JohnMoralesTV/status/1843325629741285439?ref_src=twsrc%5Etfw">October 7, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Morales isn&#8217;t alone. Other scientists sounded the alarm, too. They used words like &#8220;<a href="https://x.com/AndyHazelton/status/1843342493318033642?utm_source=substack&amp;utm_medium=email">unprecedented</a>&#8221; and &#8220;<a href="https://x.com/webberweather/status/1843317499091382515?s=46&amp;t=xkbHVlvdaIg9MYo3Hv8M_w&amp;utm_source=substack&amp;utm_medium=email">jaw-dropping</a>.&#8221;
See Also: <a href="https://www.benzinga.com/real-estate/24/10/41251171/hurricane-helenes-destruction-sparks-search-for-safety-10-states-where-property-is-at-the-lowest-ris">Hurricane Helene&#8217;s Destruction Sparks Search For Safety — 10 States Where Property Is At The Lowest Risk</a>
Within 36 hours of formation, Milton&#8217;s winds reached 180 miles per hour. That&#8217;s lightning fast in the world of storm tracking. 
But it shouldn&#8217;t have been a surprise. Helene also mutated from a tropical storm to a Category 4 hurricane in just two days.
For those wondering how two storms, with rains Morales described as &#8220;<a href="https://thebulletin.org/2024/09/hurricane-helene-isnt-an-outlier-its-a-harbinger-of-the-future/#post-heading">biblical</a>,&#8221; are a sudden reality, NASA has an answer: Warm ocean waters due to human-caused climate change.
These conditions caused Milton and Helene to become powerful Category 5 storms.
&#8220;Sea surface temperatures in the Gulf of Mexico were well above average for this time of year as Milton churned toward Florida,&#8221; NASA Climate, an account affiliated with NASA, posted on X.
<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">Warm ocean waters due to human-caused climate change helped fuel Hurricane <a href="https://twitter.com/hashtag/Milton?src=hash&amp;ref_src=twsrc%5Etfw">#Milton</a> to become a powerful Category 5 storm. Sea surface temperatures in the Gulf of Mexico were well above average for this time of year as Milton churned toward Florida. <a href="https://t.co/p4WvGdpcWE">https://t.co/p4WvGdpcWE</a> <a href="https://t.co/P3qashjqoc">pic.twitter.com/P3qashjqoc</a>
&mdash; NASA Climate (@NASAClimate) <a href="https://twitter.com/NASAClimate/status/1844030081460502696?ref_src=twsrc%5Etfw">October 9, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
The primary business activities of certain companies are directly linked to greenhouse gases such as carbon dioxide and methane.
You know the names: Exxon Mobil Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) and Chevron Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>), Marathon Oil Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRO#NYSE">MRO</a>), BP plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BP#NYSE">BP</a>) and PetroChina (OTC:<a class="ticker" href="https://www.benzinga.com/stock/PCCYF#OTC">PCCYF</a>), to name a few.
&#8220;I tried to warn people,&#8221; Morales wrote in the Bulletin of Atomic Scientists last month. &#8220;Except that the warning was not well received by everyone. A person accused me of being a &#8216;climate militant,&#8217; a suggestion that I'm embellishing extreme weather threats to drive an agenda. Another simply said that my predictions were &#8216;an exaggeration.&#8217; But it wasn't an exaggeration.&#8221;
Meanwhile, oil companies operating in the Gulf are currently experiencing setbacks. Chevron&#8217;s Blind Faith platform, for example, shut down and forced personnel to evacuate. It produces around 65,000 barrels of oil per day.
Historically, companies like Shell PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHEL#NYSE">SHEL</a>) and others in the Gulf region followed similar protocols, ahead of significant storms like Helene and — just a couple of weeks earlier — Hurricane Francine​.
See Also: <a href="https://www.benzinga.com/government/24/09/40822108/hurricane-francine-approaches-louisiana-coast-may-become-category-2-storm">Hurricane Francine Approaches Louisiana Coast With Category 2 Storm Potential, Local Oil Refineries Cut Production</a>
<h1 class="wp-block-heading">ExxonMobil Accepts, Then Denies</h1>
Like Morales, ExxonMobil&#8217;s own scientists made similar predictions — in 1977. 
InsideClimateNews <a href="https://insideclimatenews.org/news/02052024/from-the-archive-exxon-research-global-warming/?utm_source=substack&amp;utm_medium=email#:~:text=He%20warned%20Exxon%20scientists%20and,degrees%20Fahrenheit)%20at%20the%20poles.">republished</a> a 2015 article this past May that chronicles how James Black presented evidence to Exxon brass decades ago, detailing how the oil industry&#8217;s operations would endanger humanity.
&#8220;There is general scientific agreement that the most likely manner in which mankind is influencing the global climate is through carbon dioxide release from the burning of fossil fuels," Black said at the time.
Exxon eventually <a href="https://insideclimatenews.org/wp-content/uploads/2015/10/Exxon-Review-of-Climate-Research-Program-1981.pdf">nixed its carbon dioxide research</a> and chose, instead, to deny climate change. 
Fast-forward to today, elected officials are either <a href="https://www.youtube.com/watch?v=4RbvIMfwNzU">dismissing</a> it entirely or calling it a <a href="https://x.com/realDonaldTrump/status/265895292191248385">hoax</a>. Meanwhile, the U.S. produces more oil <a href="https://www.benzinga.com/government/23/10/35240230/us-is-producing-more-oil-under-biden-than-at-any-point-under-the-trump-administration">than ever before</a>. 
&#8220;We're seeing it play out in this post-truth era, in ways that's really damaging society. And I'm not talking more in the psychological, esoterical ways, or maybe in the election outcome ways. This is getting in the way of emergency management agencies doing their job and saving lives and getting people out of harm's way,&#8221; Morales <a href="https://thebulletin.org/2024/10/meteorologist-john-morales-theres-rapid-intensification-theres-extreme-rapid-intensification-and-then-theres-hurricane-milton/">says</a>. &#8220;It's getting in the way of recovery efforts&#8230; And yeah, it's definitely a hindrance to my mission as a person whose life mission is saving life and property.&#8221;
What&#8217;s Next: The U.S. Energy Information Administration continues to analyze energy data, and how Milton <a href="https://www.eia.gov/todayinenergy/detail.php?id=63444">affects</a> energy infrastructure. The agency will publish an inventory report on Thursday; The Wall Street Journal <a href="https://www.wsj.com/finance/commodities-futures/u-s-natural-gas-futures-move-lower-as-storm-looms-24b63a6f?mod=latest_headlines">expects</a> the surplus in U.S. natural gas to contract as Hurricane Milton makes its way across Florida.
Now Read:
<ul>
<li><a href="https://www.benzinga.com/markets/asia/24/10/41257792/oil-dips-to-73-as-china-withholds-stimulus-biden-attempts-to-contain-netanyahu-over-israels-attack-o">Oil Dips To $73 As China Withholds Stimulus, Biden Attempts To Contain Netanyahu Over Israel&#8217;s Attack On Iran</a></li>
</ul>
Photo: Courtesy of NASA

PCCYF

SHEL

How Did Hurricanes Milton, Helene Intensify So Quickly? ExxonMobil's Scientists Warned Us... In 1977

Rosenblatt analyst Mike Genovese maintains Applied Optoelectronics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAOI#NASDAQ">AAOI</a>) with a Buy and maintains $20 price target.

Price Target

Analyst Ratings

AAOI

Rosenblatt Maintains Buy on Applied Optoelectronics, Maintains $20 Price Target

Macquarie analyst Tao Qiu maintains Brookdale Senior Living (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BKD#NYSE">BKD</a>) with a Outperform and maintains $8 price target.

Macquarie Maintains Outperform on Brookdale Senior Living, Maintains $8 Price Target

DA Davidson analyst Linda Bolton Weiser initiates coverage on Procter &amp; Gamble (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PG#NYSE">PG</a>) with a Neutral rating and announces Price Target of $159.

Initiation

DA Davidson Initiates Coverage On Procter & Gamble with Neutral Rating, Announces Price Target of $159

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
It&rsquo;s time to start the trading week with a dive into the biggest pre-market stock movers worth watching on Monday morning!



Let&rsquo;s get into that news below!



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



<ol><li>MediaCo (NASDAQ:<a href="https://investorplace.com/stock-quotes/mdia-stock-quote/">MDIA</a>) stock is rocketing more than 41% alongside heavy pre-market trading.</li>



<li>Mountain Crest Acquisition Corp. IV &ndash; Rights (NASDAQ:<a href="https://investorplace.com/stock-quotes/mcafr-stock-quote/">MCAFR</a>) shares are soaring over 37% after its combination with CH Auto Technology.</li>



<li>Xilio Therapeutics (NASDAQ:<a href="https://investorplace.com/stock-quotes/xlo-stock-quote/">XLO</a>) stock is surging more than 34% following a <a href="https://www.nasdaq.com/press-release/xilio-therapeutics-announces-%2411.3-million-private-placement-equity-financing-2024-03">recent private placement</a>.</li>



<li>U Power (NASDAQ:<a href="https://investorplace.com/stock-quotes/ucar-stock-quote/">UCAR</a>) shares are gaining over 33% as it prepares for a <a href="https://www.nasdaq.com/press-release/u-power-limited-announces-1-for-100-share-consolidation-2024-03-29">reverse stock split this week</a>.</li>



<li>Doma (NYSE:<a href="https://investorplace.com/stock-quotes/doma-stock-quote/">DOMA</a>) stock is increasing more than 33% after <a href="https://www.nasdaq.com/press-release/doma-enters-into-agreement-to-go-private-at-price-of-%246.29-per-share-in-cash-plans-to">announcing plans to go private</a>.</li>



<li>Jaguar Health (NASDAQ:<a href="https://investorplace.com/stock-quotes/jagx-stock-quote/">JAGX</a>) shares are rising over 27% ahead of its <a href="https://www.defenseworld.net/2024/03/30/jaguar-health-jagx-scheduled-to-post-earnings-on-monday.html">earnings report today</a>.</li>



<li>Torrid (NYSE:<a href="https://investorplace.com/stock-quotes/curv-stock-quote/">CURV</a>) stock is climbing more than 21% alongside its <a href="https://www.nasdaq.com/press-release/torrid-reports-fourth-quarter-and-fiscal-2023-results-and-initiates-fiscal-2024">Q4 2023 earnings report</a>.</li>



<li>Qilian (NASDAQ:<a href="https://investorplace.com/stock-quotes/qli-stock-quote/">QLI</a>) shares are heading over 21% higher on Monday morning.</li>



<li>Project Energy Reimagined (NASDAQ:<a href="https://investorplace.com/stock-quotes/pegr-stock-quote/">PEGR</a>) stock is jumping more than 15% this morning.</li>



<li>Iterum Therapeutics (NASDAQ:<a href="https://investorplace.com/stock-quotes/itrm-stock-quote/">ITRM</a>) shares are up over 14% with the release of its <a href="https://app.quotemedia.com/data/downloadFiling?webmasterId=90423&amp;ref=318200256&amp;type=PDF&amp;symbol=ITRM&amp;cdn=84f4de18c33af3dabfe15c62944102cf&amp;companyName=Iterum+Therapeutics+plc&amp;formType=8-K&amp;formDescription=Current+report+pursuant+to+Section+13+or+15%28d%29&amp;dateFiled=2024-03-29">latest earnings report</a>.</li>
</ol><h2>10 Top Losers</h2>



<ol><li>Mountain Crest Acquisition Corp (NASDAQ:<a href="https://investorplace.com/stock-quotes/mcaf-stock-quote/">MCAF</a>) stock is plummeting more than 58% alongside its CH Auto Technology merger.</li>



<li>X3 Holdings (NASDAQ:<a href="https://investorplace.com/stock-quotes/xtkg-stock-quote/">XTKG</a>) shares are diving close to 32% despite <a href="https://www.nasdaq.com/press-release/x3-holdings-strikes-major-partnership-deal-poised-to-transform-semiconductor-supply-0">announcing a new partnership</a>.</li>



<li>Endra Life Sciences (NASDAQ:<a href="https://investorplace.com/stock-quotes/ndra-stock-quote/">NDRA</a>) stock is tumbling over 27% after releasing its <a href="https://www.nasdaq.com/press-release/endra-life-sciences-reports-fourth-quarter-and-full-year-2023-financial-results-and">Q4 earnings report</a>.</li>



<li>Sintx Technologies (NASDAQ:<a href="https://investorplace.com/stock-quotes/sint-stock-quote/">SINT</a>) shares are taking a more than 25% beating after revealing a <a href="https://fox40.com/business/press-releases/globenewswire/9081720/sintx-technologies-announces-proposed-public-offering-of-common-stock">proposed public offering</a>.</li>



<li>Avalo Therapeutics (NASDAQ:<a href="https://investorplace.com/stock-quotes/avtx-stock-quote/">AVTX</a>) stock is falling over 17% alongside its <a href="https://www.globenewswire.com/news-release/2024/03/29/2854834/0/en/Avalo-Reports-2023-Financial-Results-and-Provides-Business-Updates.html">fiscal 2023 earnings results</a>.</li>



<li>Binah Capital (NASDAQ:<a href="https://investorplace.com/stock-quotes/bcg-stock-quote/">BCG</a>) shares are decreasing more than 15% after <a href="https://investorplace.com/2024/03/why-is-binah-capital-bcg-stock-up-93-today/">recently going public</a>.</li>



<li>Vivos Therapeutics (NASDAQ:<a href="https://investorplace.com/stock-quotes/vvos-stock-quote/">VVOS</a>) stock is dropping over 15% after <a href="https://finance.yahoo.com/news/vivos-therapeutics-full-2023-earnings-123004258.html">missing earnings estimates</a>.</li>



<li>Nuvve (NASDAQ:<a href="https://investorplace.com/stock-quotes/nvve-stock-quote/">NVVE</a>) shares are slipping more than 14% <a href="https://app.quotemedia.com/data/downloadFiling?webmasterId=90423&amp;ref=318199610&amp;type=PDF&amp;symbol=NVVE&amp;cdn=a217b6757d315c4bd6039ed7032d2928&amp;companyName=Nuvve+Holding+Corp.&amp;formType=10-K&amp;formDescription=Annual+report+pursuant+to+Section+13+or+15%28d%29&amp;dateFiled=2024-03-29">following a business update</a>.</li>



<li>3M (NYSE:<a href="https://investorplace.com/stock-quotes/mmm-stock-quote/">MMM</a>) stock is dipping over 14% after <a href="https://finance.yahoo.com/news/3m-completes-spin-off-solventum-103000495.html">completing a spinoff</a>.</li>



<li>Steakholder Foods (NASDAQ:<a href="https://investorplace.com/stock-quotes/stkh-stock-quote/">STKH</a>) shares close out our pre-market stock movers down more than 14% today.</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/2024/04/todays-biggest-pre-market-stock-movers-10-top-gainers-and-losers-on-monday-april-1st/">Today's Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Monday</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

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

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
X3 Holdings&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/xtkg-stock-quote/">XTKG</a>) stock is falling on Monday even after the company announced a <a href="https://www.nasdaq.com/press-release/x3-holdings-strikes-major-partnership-deal-poised-to-transform-semiconductor-supply-0">new strategic partnership</a> this morning.



According to a press release from X3 Holdings, this partnership is with a leading provider of semiconductor modules and devices. The company doesn&rsquo;t name its partner but does provide additional details.



X3 Holdings claims that this partnership will transform the global trade supply chain and compliance platform. It says this platform will make use of big data, artificial intelligence (<a href="https://investorplace.com/stock-quotes/ai-stock-quote/">AI</a>), cloud computing, blockchain, and 5G technologies.



Stewart Lor, CEO of&nbsp;X3 Holdings, said this about the partnership.




&ldquo;We&rsquo;re thrilled to embark on this partnership, making a pivotal chapter in our journey to redefine digital trade in the chip industry. It&rsquo;s more than a collaboration; it&rsquo;s an opportunity to unleash the full potential of digital transformation in a key sector.&rdquo;




<h2>How This Affects XTKG Stock</h2>



Shares of XTKG are down 25.4% as of Monday morning. This comes alongside some 491,000 shares changing hands. For the record, its daily average trading volume is about 473,000 shares.



It&rsquo;s also worth mentioning that XTKG stock underwent a major rally during the previous day of trading. That saw it jump 70.5% on Thursday with more than 3 million shares traded.



Investors will find more of the most recent stock market stories below!



We have all of the hottest stock market news worth reading about on Monday! That includes what&rsquo;s going on with shares of Mountain Crest Acquisition Corp&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/mcaf-stock-quote/">MCAF</a>) stock, U Power&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/ucar-stock-quote/">UCAR</a>) stock and MediaCo&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/mdia-stock-quote/">MDIA</a>) stock today. All of that news is ready to go at the links below!



<h2>More Stock Market News for Monday</h2>



<ul><li><a href="https://investorplace.com/2024/04/why-is-mountain-crest-acquisition-mcaf-stock-down-59-today/">Why Is Mountain Crest Acquisition (MCAF) Stock Down 59% Today?</a></li>



<li><a href="https://investorplace.com/2024/04/why-is-u-power-ucar-stock-up-12-today/">Why Is U Power (UCAR) Stock Up 12% Today?</a></li>



<li><a href="https://investorplace.com/2024/04/why-is-mediaco-mdia-stock-up-86-today/">Why Is MediaCo (MDIA) Stock Up 86% 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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	The post <a href="https://investorplace.com/2024/04/why-is-x3-holdings-xtkg-stock-down-25-today/">Why Is X3 Holdings (XTKG) Stock Down 25% Today?</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

Why Is X3 Holdings (XTKG) Stock Down 25% Today?

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
<a href="https://investorplace.com/industries/healthcare/cannabis/">Cannabis stocks</a> are on the move Monday as investors react to the news that recreational marijuana is now legal in Germany.



These new laws do come with <a href="https://apnews.com/article/cannabis-marijuana-legalization-decriminalization-germany-26e6a5ec254cfa69d063ec352036dfd8">some restrictions worth pointing out</a>. That includes age limits. Individuals are allowed to carry 25 mg of marijuana on their person. Those 18 and older can also join cannabis clubs to purchase their marijuana.



Through these cannabis clubs, German residents can buy 25 mg of marijuana a day or up to 50 mg per month. That limit is lowered to 30 mg per month for people under 21.



Finally, the law also allows people to grow their own marijuana plants. This allows Germans to have three total plants alongside the 25 mg they can hold at a time.



Cannabis companies are <a href="https://finance.yahoo.com/news/aurora-cannabis-commends-germanys-landmark-110000315.html">celebrating today&rsquo;s news</a> as this is a win for marijuana stocks. Even so, cannabis stocks are sliding on Monday. Let&rsquo;s check that out below.



<h2>Cannabis Stocks Falling Today</h2>



<ul><li>Tilray (NASDAQ:<a href="https://investorplace.com/stock-quotes/tlry-stock-quote/">TLRY</a>) stock starts us off on Monday morning with a 2.6% drop.</li>



<li>Canopy Growth (NASDAQ:<a href="https://investorplace.com/stock-quotes/cgc-stock-quote/">CGC</a>) stock is next with a 4.8% fall as of this writing.</li>



<li>SNDL (NASDAQ:<a href="https://investorplace.com/stock-quotes/sndl-stock-quote/">SNDL</a>) stock is dropping 2.6% as of Monday morning.</li>



<li>Aurora Cannabis (NASDAQ:<a href="https://investorplace.com/stock-quotes/acb-stock-quote/">ACB</a>) stock is sliding 2.5% lower as of this morning.</li>
</ul>Investors seeking out even more of the most recent stock market stories are going to want to stick around!



We have all of the hottest stock market stories worth reading about on Monday! Among that is what has shares of Tesla&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/tsla-stock-quote/">TSLA</a>), X3 Holdings&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/xtkg-stock-quote/">XTKG</a>) and Mountain Crest Acquisition Corp&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/mcaf-stock-quote/">MCAF</a>) stock moving today. All of that news is available at the links below!



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



<ul><li><a href="https://investorplace.com/2024/04/dear-tsla-stock-fans-mark-your-calendars-for-april-2/">Dear TSLA Stock Fans, Mark Your Calendars for April 2</a></li>



<li><a href="https://investorplace.com/2024/04/why-is-x3-holdings-xtkg-stock-down-25-today/">Why Is X3 Holdings (XTKG) Stock Down 25% Today?</a></li>



<li><a href="https://investorplace.com/2024/04/why-is-mountain-crest-acquisition-mcaf-stock-down-59-today/">Why Is Mountain Crest Acquisition (MCAF) Stock Down 59% 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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	The post <a href="https://investorplace.com/2024/04/cannabis-stocks-alert-recreational-marijuana-just-became-legal-in-germany/">Cannabis Stocks Alert: Recreational Marijuana Just Became Legal in Germany</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

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