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ClimateRock

News

Dividends

FXNC

First National Increases Quarterly Dividend From $0.15 To $0.155

-Reuters Exclusive, Citing Sources

JPMorgan Reportedly Weighing Options For Its European HQ In London, May Build New Tower

Cantor Fitzgerald analyst Louise Chen reiterates Spero Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SPRO#NASDAQ">SPRO</a>) with a Overweight.

Reiteration

Analyst Ratings

SPRO

Cantor Fitzgerald Reiterates Overweight on Spero Therapeutics

Canaccord Genuity analyst Whitney Ijem maintains Taysha Gene Therapies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSHA#NASDAQ">TSHA</a>) with a Buy and raises the price target from $6 to $8.

Price Target

TSHA

Canaccord Genuity Maintains Buy on Taysha Gene Therapies, Raises Price Target to $8

Lowe's Companies's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LOW#NYSE">LOW</a>) short percent of float has risen 3.36% since its last report. The company recently reported that it has 6.99 million shares sold short, which is 1.23% of all regular shares that are available for trading. Based on its trading volume, it would take traders 3.15 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Lowe's Companies Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1731681023_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Lowe's Companies has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Lowe's Companies's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Lowe's Companies's peer group average for short interest as a percentage of float is 6.07%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

Trading Ideas

Looking Into Lowe's Companies's Recent Short Interest

Cipher Mining's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CIFR#NYSE">CIFR</a>) short percent of float has risen 3.6% since its last report. The company recently reported that it has 24.14 million shares sold short, which is 11.51% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.27 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Cipher Mining Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1731681017_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Cipher Mining has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Cipher Mining's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Cipher Mining's peer group average for short interest as a percentage of float is 10.97%, which means the company has more short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

CIFR

Peering Into Cipher Mining's Recent Short Interest

NNN REIT's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NNN#NYSE">NNN</a>) short percent of float has risen 25.67% since its last report. The company recently reported that it has 5.19 million shares sold short, which is 3.77% of all regular shares that are available for trading. Based on its trading volume, it would take traders 4.82 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>NNN REIT Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1731681012_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for NNN REIT has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing NNN REIT's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, NNN REIT's peer group average for short interest as a percentage of float is 4.73%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

(NNN) - Analyzing NNN REIT's Short Interest

Canaccord Genuity analyst William Plovanic maintains TriSalus Life Sciences (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLSI#NASDAQ">TLSI</a>) with a Buy and lowers the price target from $12 to $11.

TLSI

Canaccord Genuity Maintains Buy on TriSalus Life Sciences, Lowers Price Target to $11

Canaccord Genuity analyst Austin Moeller maintains Spire Global (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPIR#NYSE">SPIR</a>) with a Buy and raises the price target from $12 to $18.

SPIR

Canaccord Genuity Maintains Buy on Spire Global, Raises Price Target to $18

Earnings

Earnings Misses

NDRA

ENDRA Life Sciences Q3 EPS $(9.54)

Canaccord Genuity analyst George Gianarikas maintains Plug Power (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLUG#NASDAQ">PLUG</a>) with a Hold and lowers the price target from $2.25 to $2.

PLUG

Canaccord Genuity Maintains Hold on Plug Power, Lowers Price Target to $2

Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) shares closed higher on Thursday despite an overall decline <a href="https://www.benzinga.com/news/global/24/11/41964915/apple-faces-legal-action-over-rip-off-icloud-charges-could-pay-out-38b-to-uk-customers">in the stock market</a>.
Consumer group Which? has filed a £3 billion ($3.81 billion) legal claim against Apple, accusing the tech giant of breaching UK competition law through its iCloud service.
Warren Buffett's Berkshire Hathaway Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) reduced stake in Apple from 400 million to 300 million shares. Thus, Berkshire has now cut its position in the Cupertino, California-based tech giant by over two-thirds since <a href="https://www.benzinga.com/markets/equities/24/11/41993666/warren-buffetts-berkshire-hathaway-slashes-apple-bofa-holdings-adds-dominos-pizza-in-q3">2023's third quarter.</a>
With the recent buzz around Apple, some investors may be eyeing potential gains from the company's dividends too. As of now, Apple offers an annual dividend yield of 0.44%, which is a quarterly dividend amount of 25 cents per share ($1.00 a year).
So, how can investors exploit its dividend yield to pocket a regular $500 monthly?
To earn $500 per month or $6,000 annually from dividends alone, you would need an investment of approximately $1,369,320 or around 6,000 shares. For a more modest $100 per month or $1,200 per year, you would need $273,864 or around 1,200 shares.
To calculate: Divide the desired annual income ($6,000 or $1,200) by the dividend ($1.00 in this case). So, $6,000 / $1.00 = 6,000 ($500 per month), and $1,200 / $1.00 = 1,200 shares ($100 per month).
Note that dividend yield can change on a rolling basis, as the dividend payment and the stock price both fluctuate over time.
How that works: The dividend yield is computed by dividing the annual dividend payment by the stock&#8217;s current price.
For example, if a stock pays an annual dividend of $2 and is currently priced at $50, the dividend yield would be 4% ($2/$50). However, if the stock price increases to $60, the dividend yield drops to 3.33% ($2/$60). Conversely, if the stock price falls to $40, the dividend yield rises to 5% ($2/$40).
Similarly, changes in the dividend payment can impact the yield. If a company increases its dividend, the yield will also increase, provided the stock price stays the same. Conversely, if the dividend payment decreases, so will the yield.
AAPL Price Action: Shares of Apple gained 1.4% to close at $228.22 on Thursday.
<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="How to Find Dividend Stocks: Scan, Analyze, and Capture with Benzinga Pro" width="500" height="281" src="https://www.youtube.com/embed/pVF0O2lsEH4?start=1&#038;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>
</figure>
Read More:
<ul>
<li> <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/11/41971544/jim-cramer-recommends-microsoft-praises-american-water-works-for-being-consistent">Jim Cramer Recommends Microsoft, Praises American Water Works For Being &#8216;Consistent&#8217;</a></li>
</ul>
Image: Shutterstock

Long Ideas

Markets

Tech

AAPL

How To Earn $500 A Month From Apple Stock

Intuitive Machines Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LUNR#NASDAQ">LUNR</a>), the space exploration company that made history as the first private entity to land on the moon, has had an astronomical 2024, with its stock up 333% year-to-date. The company's <a href="https://www.benzinga.com/quote/LUNR/earnings">third-quarter earnings</a> reveal the engines of this growth—surging revenues, record backlogs, and a moonshot approach to innovation.
For the third quarter, Intuitive Machines reported revenue of $58.48 million, soaring past analyst expectations of $50.89 million and representing a 359% year-over-year increase. While the company posted a net loss of $80.44 million compared to a $14.31 million profit last year, its backlog hit a record $316.2 million, signaling robust future demand.
CEO Steve Altemus framed the quarter as a turning point. "We made progress across all three pillars&#8230; securing another south pole lunar delivery mission, winning the Near Space Network Services contract, and continuing to mature our heavy cargo lander design," Altemus said, highlighting key revenue streams and operational advancements.
Read Also: <a href="https://www.benzinga.com/news/earnings/24/11/41952975/intuitive-machines-ast-spacemobile-shares-are-surging-whats-going-on">Intuitive Machines, AST SpaceMobile Shares Are Surging: What&#8217;s Going On?</a>
<h2 class="wp-block-heading">From The Moon To Mars?</h2>
Intuitive Machines' first moon lander, Odysseus, achieved a historic lunar touchdown in February, marking the U.S.'s return to the moon after five decades. 
The company's ambitions are far from grounded—it completed propulsion system tests for its second lunar mission, targeting a Q1 2024 launch.
With these accomplishments, Intuitive Machines is positioning itself as a leader in the commercial space race, blending government contracts with strategic innovations.
<h2 class="wp-block-heading">The Charts Suggest There&#8217;s More Fuel Left</h2>
Charts indicate that Intuitive Machines is on solid ground.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/pro/?utm_source=BZprocontent111524&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="628" height="456" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/15074319/Screenshot-2024-11-15-at-6.13.06-PM.png" alt="" class="wp-image-650107" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/15074319/Screenshot-2024-11-15-at-6.13.06-PM.png 628w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/15074319/Screenshot-2024-11-15-at-6.13.06-PM-300x218.png 300w" sizes="(max-width: 628px) 100vw, 628px" /></a></figure>
<a href="https://www.benzinga.com/pro/?utm_source=BZprocontent111524&amp;t=be2bearmibe3na1">Chart created using Benzinga Pro</a>
LUNR stock trades at $9.85, comfortably above its 20-day simple moving average (SMA) of $8.85, 50-day SMA of $7.97, and 200-day SMA of $5.73. Most of these signals suggest that the stock remains firmly in bullish territory. However, the eight-day SMA of $10.09 lies above the LUNR stock price, indicating some selling pressure.
It introduces a note of caution and could also hint at potential near-term volatility.
For now, the upward momentum is unmistakable, with technical indicators aligning to suggest continued growth for investors who can stomach the space sector's inherent risks.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/24/11/42004587/us-stocks-likely-to-open-in-red-after-jerome-powell-says-no-need-to-be-in-a-hurry-on-rate-cuts">US Stocks Likely To Open In Red After Jerome Powell Says No Need To Be &#8216;In A Hurry&#8217; On Rate Cuts: Tesla, TSMC And Domino&#8217;s In Focus</a></li>
</ul>
Photo: Shutterstock

SPACE

Technicals

General

LUNR

Intuitive Machines Rockets 333% This Year: Is LUNR Ready For Its Next Moonshot?

WIIM

TRUG

TruGolf Holdings shares are trading higher after the company reported Q3 sales of $6.24 million, representing an 82% increase year over year.

<a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4304226-1&amp;h=617113131&amp;u=https%3A%2F%2Fwww.cyient.com%2F&amp;a=Cyient">Cyient</a>, a global Intelligent Engineering services company, today announced the expansion of its partnership with <a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4304226-1&amp;h=3152890469&amp;u=https%3A%2F%2Fwww.allegromicro.com%2Fen%2F%3Futm_source%3Dnews%26utm_medium%3Dpress-release%26utm_campaign%3Delectronica-2024%26utm_term%3D%26utm_content%3Dhome-page&amp;a=Allegro+MicroSystems%2C+Inc.">Allegro MicroSystems, Inc.</a>&nbsp;("Allegro MicroSystems") (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALGM#NASDAQ">ALGM</a>), a global leader in power and sensing solutions for motion control and energy efficiency, with the inauguration of a Center of Excellence (CoE) in Hyderabad, India.
The CoE, located at Cyient's Manikonda Campus, will focus on developing next-generation magnetic sensors and power semiconductor products for the automotive industry. The state-of-the-art facility was inaugurated by Allegro MicroSystems President &amp; CEO Vineet Nargolwala in the presence of Max Glover, Senior Vice President WW Sales, Allegro MicroSystems, and Suman Narayan, Senior Vice President, Products, Allegro MicroSystems. &nbsp;&nbsp;&nbsp;
The CoE will house over 100 skilled engineers specializing in key areas such as post-silicon validation, design verification, analog design, analog mixed-signal verification, and embedded systems. This expansion significantly strengthens Allegro MicroSystems's presence in India, providing access to a highly skilled talent pool and fostering collaboration within the vibrant Indian technology ecosystem.

ALGM

Cyient, Allegro MicroSystems Partner To Focus On Developing Next-Generation Magnetic Sensors And Power Semiconductor Products For The Automotive Industry

As blockchain technology gains ground in finance, many traditional institutions use it to streamline transactions and <a href="https://www.benzinga.com/topic/blockchain">automate back-office processes</a>. 
Robert Leshner, CEO and co-founder of Superstate, recently shared his perspective on how this trend unfolds, speaking ahead of his appearance at the <a href="https://benzinga.swoogo.com/digital-assets/6342807">Benzinga Future of Digital Assets</a> event.
<h3 class="wp-block-heading">Private Blockchains as a Preferred Choice</h3>
Leshner explained that most financial institutions focus their blockchain activities on private networks, where they can work "out-of-sight of their competitors" and maintain control over the environment. 
This setup allows them to test blockchain's potential benefits without the competitive visibility of public networks. For these institutions, private blockchains provide a means to enhance transaction speed and efficiency while keeping operations within a controlled framework.
<figure class="wp-block-image size-full"><a href="https://benzinga.swoogo.com/digital-assets/6342807"><img loading="lazy" decoding="async" width="300" height="250" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/13235946/905735A6-57D3-4874-9AA1-75D037842DB3-1-14.gif" alt="" class="wp-image-646889" /></a></figure>
<h3 class="wp-block-heading">Public Blockchain Use on the Horizon</h3>
While private blockchains are the current focus, Leshner anticipates that some of this activity will eventually transition to public blockchains. "Eventually, this activity will find its way onto public blockchains, where transactions are tamper-proof and secured by the economics of multi-hundred-billion-dollar platforms," he saod.
However, he also pointed out that traditional financial institutions may find it challenging to give up their control over private networks. Operating on public blockchains requires a shift toward a more open framework, which runs counter to the typical structure of centralized financial organizations.
<h3 class="wp-block-heading">Long-Term Expectations for Blockchain in Finance</h3>
Leshner suggests that the finance industry may move toward a model that blends private and public blockchain use, balancing efficiency with transparency as blockchain develops. As these institutions weigh the benefits of public networks against the controlled environments of private ones, blockchain's role in finance is expected to expand.
At the upcoming Benzinga Future of Digital Assets event, Leshner and other leaders will explore how blockchain's integration into finance could reshape the industry, discussing both the benefits and the challenges of broader adoption.
<hr class="wp-block-separator has-alpha-channel-opacity" />
As the digital asset market continues to mature, the convergence of regulatory shifts, M&amp;A activities, and adoption trends will define the future of this dynamic field.&nbsp;<a href="https://www.benzinga.com/digital-assets" target="_blank" rel="noreferrer noopener">Benzinga's Future of Digital Assets</a>&nbsp;event in New York City this November will provide industry leaders and investors with a platform to explore these developments further, offering insights into the evolving regulatory environment and the latest market dynamics.
Image: Shutterstock

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

Cryptocurrency

Exclusives

Interview

Private Or Public? Financial Institutions Debate Control In The Blockchain Era

TruGolf Q3 EPS $0; Sales $6.236M Up From $3.431M YoY

Deswell Indus (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DSWL#NASDAQ">DSWL</a>) reported quarterly earnings of $0.39 per share. This is a 77.27 percent increase over earnings of $0.22 per share from the same period last year. The company reported $35.18 million in sales this quarter. This is a 6.77 percent decrease over sales of $37.73 million the same period last year.

DSWL

Deswell Indus H1 EPS $0.39 Up From $0.22 YoY, Sales $35.18M Down From $37.73M YoY

MacKenzie Scott, the ex-wife of Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) founder Jeff Bezos, has recently sold 11% of her Amazon shares, valued <a href="https://www.benzinga.com/personal-finance/24/03/37892348/jeff-bezos-ex-wife-mackenzie-scott-had-an-excruciating-job-making-and-selling-sandwiches-to-pay-">at over $8 billion. </a>
The Details: Scott received approximately 400 million Amazon shares as part of her divorce settlement with Bezos in 2019 and signed The Giving Pledge, a commitment to donate most of her wealth during her lifetime. The latest sale brings her total Amazon stock sales and donations to 255 million shares valued at <a href="https://www.benzinga.com/general/24/03/37873028/jeff-bezoss-ex-wife-mackenzie-scott-gives-4-million-grant-to-non-profit-helping-find-employment-for">approximately $37 billion. </a>
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>
Scott has disposed of two-thirds of her Amazon shares in less than six years since the divorce.  According to Forbes, she is one of the five most generous living donors in the U.S. and has given at least $17.3 billion to more than 2,300 separate nonprofit groups. 
Forbes <a href="https://www.forbes.com/sites/phoebeliu/2024/11/11/billionaire-philanthropist-mackenzie-scott-sold-donated-more-amazon-shares/">speculates</a> the remaining $20 billion could be sitting in her various charitable accounts, with the shares likely sold, regardless of whether Scott moved them into one of her many reported donor-advised funds. 
"Most charities have a policy of immediate sale," Holly Welch Stubbing, CEO of National Philanthropic Trust, a donor-advised-fund sponsor where Scott reportedly has an account, per Forbes.&nbsp;
One organization Scott <a href="https://www.benzinga.com/general/24/03/37873028/jeff-bezoss-ex-wife-mackenzie-scott-gives-4-million-grant-to-non-profit-helping-find-employment-for">supported</a> with proceeds from sales of Amazon shares is the West Philadelphia Skills Initiative, which helps job seekers find careers and employers locate top talent. Scott donated $4 million in unrestricted funds to the organization. 
&#8220;They&#8217;re not asking us to do anything different. They&#8217;re saying you&#8217;re doing a really good job. Keep going, we trust you,&#8221; said Cait Garozzo, executive director of the West Philadelphia Skills Initiative. &#8220;And that means a lot. It allows us to experiment and innovate to leverage the investment funds that we already have to grow in a way that feels authentic.&#8221;
If Scott had not given any of her shares away, she would be one of the 20 richest people in the world and the second richest woman, worth $82 billion.&nbsp;
Read More:&nbsp;
<ul>
<li>&nbsp;<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: Courtesy of IWEC Foundation

Large Cap

Success Stories

AMZN

Jeff Bezos' Ex-Wife MacKenzie Scott Sells More Amazon Shares

Flora Growth Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FLGC#NASDAQ">FLGC</a>) reported Thursday after market close its financial results for the three months ended Sept. 30, 2024. disclosing revenue of $12.47 million, down from $17.32 million in the same period of last year.
&#8220;As the cannabis industry continues to grow, we at Flora are encouraged by the election of President-elect Donald Trump and the potential for continued progress in cannabis reform,&#8221; stated CEO Clifford Starke. &#8220;Under his previous administration, the signing of the 2018 Farm Bill laid the foundation for the U.S. hemp and CBD industries, creating a $28 billion market and countless economic opportunities for farmers, manufacturers, and brands across the nation. We recognize the profound impact of this legislation, which enabled Flora and many others to bring safe, high-quality cannabis products to a global audience.&#8221;
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. Glass House Brands Reports 32% YoY Q3 Revenue Growth (UPDATED)</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">Q3 Financial Highlights</h2>
<ul>
<li>Gross profit was $2.84 million compared to $4.94 million in the third quarter of 2023.</li>
<li>Net loss was $3.8 million compared to a net income of $1.1 million in the comparable quarter of last year.</li>
<li>Total operating expenses were of $6.5 million, compared to $5.5 million in the corresponding quarter of 2023.</li>
<li>Adjusted EBITDA was a loss of $2.4 million compared to an Adjusted EBITDA loss of $200,000 in the comparable quarter.</li>
</ul>
&#8220;With federal rescheduling procedures set to begin in January, we remain optimistic about additional cannabis policy advancements that could bring significant benefits to consumers, businesses, and communities alike,&#8221; Starke continued. &#8220;The prospect of a rescheduling shift underscores the growing recognition of cannabis&#8217;s therapeutic potential and its rightful place in a modern, regulated economy.&#8221;
<h2 class="wp-block-heading">Recent Milestones</h2>
Earlier this month, Flora reaffirmed its <a href="https://www.benzinga.com/markets/cannabis/24/11/41720393/flora-growth-inks-medical-marijuana-supply-agreement-with-curaleaf">medical cannabis supply agreement</a> with Curaleaf Holdings‘ (OTCQX:<a class="ticker" href="https://www.benzinga.com/stock/CURLF#OTCQX">CURLF</a>) subsidiary Northern Green Canada, Inc. Under the agreement, Northern Green will supply Flora with medicinal cannabis products that Flora will distribute in the German market. The new supply agreement provides for a minimum purchase obligation and a minimum supply obligation on Flora and Northern Green, respectively, subject to certain terms and conditions.
In October, the Florida-based cannabis company launched <a href="https://www.benzinga.com/markets/cannabis/24/10/41518430/flora-growth-launches-first-thc-infused-beverage-in-4-flavors-provides-update-on-hoshi-investmen">its first THC-infused beverage, Melo</a>, marking the company's debut into the rapidly growing beverage market. Melo is the result of a strategic joint venture between Flora Growth and Peak, a renowned provider of advanced cannabis-based products. The collaboration combines Flora's marketing and distribution network with Peak's emulsion technology. Melo comes in four flavors – grapefruit, half &amp; half lemonade iced tea, strawberry mango and wild berries.
<h2 class="wp-block-heading">Price Action</h2>
Flora Growth shares closed Thursday's market session 15.93% higher at $1.31 per share.
Read Next:
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Photo: Courtesy of YARphotographer via Shutterstock

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