Ultime notizie per Enerpac Tool Group (NYSE:EPAC) Azioni

Enerpac Tool Group

Enerpac Tool Group provides high-precision tools, controlled-force products, and solutions for precise heavy lifting. The company has one reportable segment, the Industrial Tools & Services (IT&S) Segment. The IT&S segment is primarily engaged in the design, manufacture, and distribution of branded hydraulic and mechanical tools and in providing services and tool rental to the refinery/petrochemical; general industrial; industrial maintenance, repair, and operations (MRO); machining & manufacturing; power generation; infrastructure; mining; and other markets. Geographically, the company has operations in Algeria, Australia, Brazil, France, Germany, Kazakhstan, India, Italy, Japan, Norway, Poland, Saudi Arabia, Singapore, South Africa, South Korea, Spain, and the United Arab Emirates.

Enerpac Tool Group Corp

News

Benzinga Election Update: AP Projects Trump With 247 Electoral Votes, Harris With 210 Electoral Votes; AP Projects Trump To Win Georgia And Nebraska

Editor&#8217;s Note: This article has been updated with the latest developments.
As polls begin to close for the 2024 presidential election, the nation waits to see if Donald Trump or Kamala Harris will secure a historic victory.
Trump has secured Kentucky and Indiana, while Harris has won Vermont, <a href="https://decisiondeskhq.com/results/2024/General/President/">according</a> to the Associated Press. With 34% of votes counted in Kentucky, Trump leads with 64.6%. In Indiana, with 24% of votes counted, Trump holds 64%. Meanwhile, with 20% of Vermont&#8217;s votes tallied, Harris has 69%.
In Kentucky, Trump received the endorsement of Senate GOP Leader Mitch McConnell (R-Ky.) despite their previous differences over the Jan.6 Capitol Riots, noted AP.
Vermont is considered a Democrat stronghold and the state&#8217;s Republican Governor Phil Scott voted Democrat in this election, according to the report.
Trump&#8217;s former Vice President and former Indiana Governor Mike Pence <a href="https://www.benzinga.com/news/24/03/37764902/no-surprise-former-trump-ally-refuses-to-endorse-ex-president-in-2024-cites-differences-in-conservat">did not endorse</a> him in the 2024 run but the Hoosier State is a reliable GOP stronghold where the party has held the governor&#8217;s office for the past two decades.
West Virginia voted for Trump for the third straight presidential election cycle as well. No democrat has won the presidential election in the state since Bill Clinton in 1996, according to AP.
Florida, the third-largest prize of the night in electoral votes, delivered a predictable victory for Trump, as the state has trended Republican over the past decade, noted AP.
The last Democrat to carry Florida was Barack Obama in 2012, but since then, the state has solidified its shift toward the GOP in statewide elections.
The rejection of the abortion rights measure marks Florida as the first state where such a proposal has failed since the overturning of Roe v. Wade in 2022. The initiative sought to prevent lawmakers from imposing abortion restrictions before viability or when necessary to protect the health of the patient.
Trump&#8217;s victory in Georgia marks the state&#8217;s shift from the 2020 election results, becoming the first to flip.
Key Battleground States
As of early morning updates, Trump holds leads in multiple battleground states, with notable margins in some areas:
<ul>
<li>Georgia: Trump leads by 2% with 93% of votes counted.</li>
<li>North Carolina: Trump has a 3% lead with 92% of the vote in.</li>
<li>Florida: Trump holds a substantial 13% lead, with 98% of votes counted.</li>
<li>Maine's 2nd Congressional District: Trump leads by 11% with 45% reporting.</li>
<li>Pennsylvania: Trump leads by 3% with 86% of votes counted.</li>
<li>Arizona: Trump has a narrow lead of less than 1% with 51% of votes tallied.</li>
<li>Michigan: Trump is ahead by 6% with 53% counted.</li>
<li>Wisconsin: Trump leads by 4% with 81% of votes counted.</li>
</ul>
On the Democratic side, Nebraska's 2nd Congressional District shows Harris in the lead by 8% with 84% of votes counted.
"We still have votes to count. We still have states that have not been called yet. We will continue overnight to fight to make sure that every vote is counted," Cedric Richmond, Harris' campaign co-chair, said on Tuesday, according to AP. "So you won't hear from the vice president tonight, but you will hear from her tomorrow."
Next: 
<ul>
<li><a href="https://www.benzinga.com/news/earnings/24/11/41760961/djt-stock-volatile-on-election-day-donald-trumps-media-company-reports-q3-earnings-growth-initiativ">DJT Stock Volatile On Election Day: Donald Trump&#8217;s Media Company Reports Q3 Earnings, Growth Initiatives</a></li>
</ul>
Image via Wikimedia Commons
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>

Politics

Global

Trump Wins Georgia, Leading In Key Battleground States Of Michigan, Pennsylvania, Arizona — Harris Campaign Co-Chair Addresses Demoralized Election Watch Party (UPDATED)

Tesla and SpaceX CEO Elon Musk has dismissed the pressure he faced for shutting down X, formerly Twitter, in comparison to the tribulations faced by Republican presidential nominee Donald Trump.
What Happened: Musk made these remarks during an appearance on Tucker Carlson&#8217;s online show, broadcasted from Trump&#8217;s Mar-a-Lago estate on Election Day.
In response to questions about the pressure to shut down X, the tech mogul replied with sarcasm.
He noted that, aside from multiple Democrats wanting to jail him, revoke government contracts from his companies, nationalize his businesses, deport him as an illegal immigrant, and arrest him for allegedly being Vladimir Putin's best friend, there wasn't much else.
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/11/41710411/market-analyst-who-predicted-trumps-2016-win-and-bidens-2020-victory-now-sees-former-president-retak?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Market Analyst Who Predicted Trump&#8217;s 2016 Win And Biden&#8217;s 2020 Victory, Now Sees Former President Retaking The White House With &#8216;Large Majority Of Swing States&#8217;</a>
Musk later shared the video&nbsp;on X and added,&nbsp;&#8220;Sure, it was a lot&nbsp;of pressure, but it pales&nbsp;by comparison with President Donald&nbsp;Trump, who they tried to&nbsp;kill twice, bankrupt, and imprison&nbsp;for eternity.&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Sure it was a lot of pressure, but it pales by comparison with President <a href="https://twitter.com/realDonaldTrump?ref_src=twsrc%5Etfw">@realDonaldTrump</a>, who they tried to kill twice, bankrupt and imprison for eternity <a href="https://t.co/nUFeVcArtQ">https://t.co/nUFeVcArtQ</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1854024475559248300?ref_src=twsrc%5Etfw">November 6, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Earlier this year, Republican nominee Donald Trump faced <a href="https://www.benzinga.com/news/24/09/40872269/fbi-investigating-trumps-second-assassination-attempt-authorities-detain-pro-ukraine-construction-co">two separate assassination attempts</a>.
If he secures a win, he will be&nbsp;the second president to serve&nbsp;non-consecutive terms. He will also become the oldest person ever&nbsp;elected to the presidency and&nbsp;also the first convicted felon&nbsp;to hold office while under&nbsp;legal indictment.
Why It Matters: Previously, President Joe Biden alleged that <a href="https://www.benzinga.com/news/24/10/41562764/elon-musk-fires-back-after-biden-alleges-tesla-ceo-violated-student-visa-norms-says-he-was-allowed-t">Musk violated student visa norms</a> when he first arrived in the U.S. He referred to Musk as a Trump "ally" and an &#8220;illegal worker.&#8221;
At the time, Musk retorted by saying, &#8220;I was in fact allowed to work in the U.S.,&#8221; adding that Biden was lying.
A Trump victory in the U.S. Presidential election could be a <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41709990/trump-and-tesla-what-the-future-holds-for-elon-musks-ev-giant-in-case-of-a-gop-win">&#8220;potential positive&#8221; for Musk&#8217;s company</a> Tesla, according to analysts from Wedbush.
While a Trump victory could impact the electric vehicle industry overall, it could benefit Tesla due to its unmatched scale and scope in the EV industry.
Image via Shutterstock
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/24/11/41733346/obamas-former-campaign-manager-alarmed-by-early-voting-numbers-as-harris-trump-fight-close-battle-re?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Obama&#8217;s Former Campaign Manager Alarmed By Early Voting Numbers As Harris-Trump Fight Close Battle: &#8216;Republicans Didn&#8217;t Do What They Did Last Time&#8217;</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

Elon Musk Tells Tucker Carlson That The Pressure He Faced For Shutting Down X 'Pales In Comparison' With What Trump Went Through

Former President Donald Trump won North Carolina in the <a href="https://pro.benzinga.com/dashboard">2024 presidential race</a>, securing the state&#8217;s 16 electoral votes with a substantial lead over Vice President Kamala Harris.
What Happened: With nearly 94% of expected votes counted, Trump led by more than 195,000 votes or 3.6 percentage points, according to projections <a href="https://decisiondeskhq.com/results/2024/General/President/">by</a> the Associated Press. The margin represents a stronger performance than his 2020 victory in North Carolina when he won by less than 2 percentage points.
Election officials reported higher voter turnout in areas where Trump performed well while noting decreased participation in districts favoring Harris. The pattern marks a significant shift from previous voting trends in the state.
The announcement of Trump&#8217;s North Carolina victory sparked immediate celebration at his election watch party. Supporters erupted in cheers, with some pumping their fists in the air and others jumping in excitement as the results appeared on screen. The crowd began chanting &#8220;fight, fight, fight&#8221; as the AP projection was confirmed.
See Also: <a href="https://www.benzinga.com/news/24/11/41763731/bitcoin-past-73k-dollar-gold-stock-futures-rise-as-trump-harris-results-trickle-in">Bitcoin Past $73K — Dollar, Gold, Stock Futures Rise As Trump-Harris Results Trickle In</a>
The prediction market Polymarket, which has processed more than $3.5 billion in election-related trading volume, showed significant movement following the North Carolina results. 
Current market sentiment reflects Trump at 97% and Harris at 3.4% in presidential odds. The platform&#8217;s traders strongly anticipate that the Associated Press will make its final election call by Wednesday, November 6, assigning this outcome an 82% probability.
The race for the presidency continues as votes are being counted in other states across the country. North Carolina&#8217;s results represent just one step in the path to securing the 270 electoral votes needed to win the presidency.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/11/41763478/trump-media-reddit-devon-energy-super-micro-computer-and-tesla-buzzing-among-investors-on-electi">Trump Media, Reddit, Devon Energy, Super Micro Computer, And Tesla Buzzing Among Investors On Election Day</a></li>
</ul>
Image Via Flickr 
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Trump Secures Key Swing State North Carolina, Extending Lead Over Harris In 2024 Presidential Race

Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) said on Monday that it has started delivering its latest offering — <a href="https://www.benzinga.com/topic/tesla-cybertruck">the Cybertruck</a> — to customers in Canada, making it the third country the stainless steel truck has expanded to after the U.S. and Mexico.
What Happened: &#8220;Canada Cybertruck deliveries have begun,&#8221; the company said on its official X account. 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Cyber Monday
&mdash; Cybertruck (@cybertruck) <a href="https://twitter.com/cybertruck/status/1853611061552750686?ref_src=twsrc%5Etfw">November 5, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
&#8220;Was craving some Tim Hortons,&#8221; Tesla wrote on its X account dedicated to the Cybertruck, referring to the Canadian multinational coffeehouse. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">O Canada <a href="https://t.co/UaZFaZ4Cu7">pic.twitter.com/UaZFaZ4Cu7</a>
&mdash; Cybertruck (@cybertruck) <a href="https://twitter.com/cybertruck/status/1853799887097213021?ref_src=twsrc%5Etfw">November 5, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
In September, Cybertruck Program Manager&nbsp;Siddhant Awasthi&nbsp;said that the EV giant will likely start delivering the&nbsp;<a href="https://www.benzinga.com/news/24/09/40849409/former-top-gear-host-james-may-thinks-a-vehicle-the-size-of-a-fiat-panda-but-styled-like-tesla-cyber" target="_blank" rel="noreferrer noopener">stainless steel truck</a>&nbsp;in Canada in late October. 
Why It Matters:&nbsp;The foundation series Cybertruck starts at C$137,990 ($101,505) for the all-wheel drive variant and at C$165,990 ($122,101) for the more premium Cyberbeast variant in Canada.
The&nbsp;foundation series&nbsp;refers to a limited and pricier edition of the Cybertruck with laser-etched&nbsp;foundation series&nbsp;badges and premium accessories.
Tesla started delivering the Cybertruck to customers in the U.S. in November last year and to&nbsp;<a href="https://www.benzinga.com/news/24/09/41039631/tesla-begins-cybertruck-deliveries-in-mexico-before-canada-first-country-to-get-the-stainless-steel" target="_blank" rel="noreferrer noopener">customers in Mexico late </a>in September. 
In February, Tesla displayed its complete product lineup at the Canadian auto show in Toronto, including the Cybertruck. At the time, a&nbsp;<a href="https://www.benzinga.com/news/24/02/37304997/tesla-executive-sheds-light-on-cybertruck-availability-in-canada-have-to-file-some-routine-paperwork" target="_blank" rel="noreferrer noopener">company executive confirmed</a>&nbsp;that the electric car would go on sale in the land of the maple syrup due to growing interest, but noted that they "have to file some routine paperwork." In July, Tesla confirmed that it intends to start delivering the vehicle in Canada this year.
Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/24/11/41738613/elon-musk-rejects-rumors-of-a-tesla-phone-but-says-the-ev-giant-will-have-to-make-one-if-this-happen" target="_blank" rel="noreferrer noopener">Elon Musk Rejects Rumors Of A Tesla Phone, But Says The EV Giant Will Have To Make One If This Happens</a></li>
</ul>
Photo courtesy: Tesla

TSLA

Tesla Commences Cybertruck Deliveries In Canada After Long Wait

American Electric Power Company, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AEP#NYSE">AEP</a>) will release earnings results for its third quarter, before the <a href="https://www.benzinga.com/quote/AEP/earnings">opening bell on Wednesday, Nov. 6.</a>
Analysts expect the Columbus, Ohio-based company to report quarterly earnings at $1.8 per share, up from $1.77 per share in the year-ago period. American Electric Power projects to report revenue of $5.43 billion for the quarter, compared to $5.37 billion a year earlier, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
On Oct. 24, American Electric Power named Matthew Fransen senior vice president, Finance and Treasurer, effective Dec. 1.
American Electric Power shares gained 2% to close at $100.40 on Tuesday.
Benzinga readers can access the latest analyst ratings on the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/09/28888638/exclusive-study-finds-benzinga-analyst-ratings-data-yields-market-beating-strategie">Analyst Stock Ratings</a> page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.
Let's have a look at how Benzinga's most-accurate <a href="https://www.benzinga.com/quote/AEP/analyst-ratings">analysts have rated the company</a> in the recent period.
<ul>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/5891df6343eaaa0001d69c77/jeremy-tonet">JP Morgan analyst Jeremy Tonet</a> maintained an Overweight rating and raised the price target from $108 to $112 on Oct. 18. This analyst has an accuracy rate of 62%.</li>
<li>Wells Fargo analyst Neil Kalton maintained an Equal-Weight rating and increased the price target from $98 to $104 on Oct. 16. This analyst has an accuracy rate of 67%.</li>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/6267afcd1c5f2e0001b691c4/nicholas-campanella">Barclays analyst Nicholas Campanella</a> maintained an Equal-Weight rating and raised the price target from $96 to $100 on Oct. 15. This analyst has an accuracy rate of 65%.</li>
<li>BMO Capital analyst James Thalacker maintained an Outperform rating and slashed the price target from $114 to $111 on Oct. 4. This analyst has an accuracy rate of 73%.</li>
<li>Jefferies analyst Julien Dumoulin-Smith initiated coverage on the stock with a Hold rating and a price target of $107 on Sept. 19. This analyst has an accuracy rate of 67%.</li>
</ul>
Considering buying AEP stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="529" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/06004544/image-42-1024x529.png" alt="" class="wp-image-631856" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/06004544/image-42-1024x529.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/06004544/image-42-300x155.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/06004544/image-42-768x397.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/06004544/image-42.png 1262w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
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<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/11/41744659/jim-cramer-says-he-cant-recommend-this-major-automaker-ceva-is-way-too-high">Jim Cramer Says He Can&#8217;t Recommend This Major Automaker, Ceva Is &#8216;Way Too High&#8217;</a></li>
</ul>

Earnings

Price Target

Pre-Market Outlook

Markets

Analyst Ratings

Trading Ideas

American Electric Power Gears Up For Q3 Print; Here Are The Recent Forecast Changes From Wall Street's Most Accurate Analysts

Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>), the second-largest meme coin by market capitalization, surged Tuesday night, joining the broader market rally pinned on Donald Trump's increased odds of victory.
What happened: The popular dog-themed cryptocurrency spiked over 10% in the last 24 hours, taking its market capitalization past $11 billion.
SHIB saw its trading volume soar by 157% to $865 million, making it one of the most traded cryptocurrencies in the last 24 hours.
The coin's rally was also celebrated by Shytoshi Kusama, a central figure of the Shiba Inu ecosystem.
The pseudonymous lead shared an X post with the caption "S.H.I.B." For those unaware, this was the acronym for Strategic Hub for Innovation in Blockchain—a proposal presented to the future U.S. President to establish the "Silicon Valley of Crypto."
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">S.H.I.B.
&mdash; Shytoshi Kusama&#x2122; (@ShytoshiKusama) <a href="https://twitter.com/ShytoshiKusama/status/1853973915174830278?ref_src=twsrc%5Etfw">November 6, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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The acronym appeared to have an <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41764063/dogecoin-powers-to-7-month-high-as-investors-anticipate-musk-headed-doge-department-under-">uncanny resemblance to D.O.G.E</a>, Elon Musk&#8217;s intended federal department under the next Trump administration.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41756625/will-donald-trump-prematurely-claim-victory-5-polymarket-markets-to-watch-on-election-nigh">Will Donald Trump Prematurely Claim Victory? 5 Polymarket Markets To Watch On Election Night</a>
Why It Matters: SHIB's uptick came amid a broader rally in cryptocurrencies that saw Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) <a href="https://www.benzinga.com/news/24/11/41763731/bitcoin-past-73k-dollar-gold-stock-futures-rise-as-trump-harris-results-trickle-in">hit a new all-time high</a>.
The odds of a Trump <a href="https://polymarket.com/">win </a>leapfrogged to 97% on cryptocurrency-based prediction market Polymarket, as the GOP nominee won the battleground state of North Carolina after <a href="https://www.benzinga.com/news/24/11/41762845/trump-wins-kentucky-indiana-harris-scores-vermont-as-polls-begin-to-close-across-us">securing early victories</a> in the red states of Kentucky and Indiana.
Price Action: At the time of writing, SHIB was exchanging hands at $0.00001892, up 10.2% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>.
Read Next:&nbsp;
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41763299/trump-themed-cryptos-nfts-surge-in-expectations-of-former-presidents-victory-coin-inspired">Trump-Themed Cryptos, NFTs Surge In Expectations Of Former President&#8217;s Victory — Coin Inspired By Harris Falls 13%</a></li>
</ul>

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

Cryptocurrency

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$BTC

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Shytoshi Kusama Promotes S.H.I.B As Elon Musk Touts D.O.G.E — Shiba Inu Rallies 10% Amid Broader Crypto Gains

Benzinga Election Update: Republicans Win Majority In US Senate After 4 Years

Veteran Democrat Elizabeth Warren has triumphed in securing a third term in the Massachusetts Senate, outpacing her pro-cryptocurrency opponent John Deaton.
What Happened: The Associated Press declared Warren the winner at 8:00 p.m. EST, as results of the high-stakes presidential and congressional races started trickling in. 
Warren expressed gratitude to Massachusetts voters after victory and pledged to continue working for their interests in Washington.
&#8220;Thank you, Massachusetts! I'm deeply grateful that you've decided to send me back to the Senate,&#8221; she wrote in an X post.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Thank you, Massachusetts! I'm deeply grateful that you've decided to send me back to the Senate. Together, we'll keep up the fight for a government that works for working people. <a href="https://t.co/DMBA8VkbbC">pic.twitter.com/DMBA8VkbbC</a>
&mdash; Elizabeth Warren (@ewarren) <a href="https://twitter.com/ewarren/status/1854006141811859568?ref_src=twsrc%5Etfw">November 6, 2024</a></blockquote>
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</figure>
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41755845/what-the-us-election-means-for-the-future-of-crypto-etfs">What The US Election Means For The Future Of Crypto ETFs</a>
Why It Matters: Warren&#8217;s win is particularly significant given the contentious nature of her campaign against Deaton. 
The two candidates clashed <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41350336/elizabeth-warren-says-rival-john-deaton-wants-to-go-to-washington-to-fight-for-his-crypto-">over the issue of cryptocurrencies</a>, with Warren accusing Deaton of working only for the interests of big cryptocurrency companies, a charge which he vehemently denied.
Warren has been <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/39070738/remember-elizabeth-warrens-anti-crypto-campaign-donald-trump-promises-to-keep-elizabeth-wa">detested by the cryptocurrency community</a> because of her overtly critical stance on the industry. She has argued for more regulations, arguing that it facilitates illegal activities that are largely untraceable.
In her defense, Warren said that she was okay with people buying and trading cryptocurrencies as long as they were subjected to the same laws as the traditional market.
Deaton's election effort received significant financial support from prominent industry figures, including the Winklevoss twins, <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39852340/elizabeth-warrens-opponent-gets-a-1m-donation-in-bitcoin-from-winklevoss-twins-spent-the-l" target="_blank" rel="noreferrer noopener">who donated $1 million</a> to Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) to the attorney.
Photos courtesy: Gage Skidmore via Flickr and John Deaton Campaign
Check This Out:
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<li>Lawmakers Made Huge Investments This Year. <a href="https://www.benzinga.com/gov-trades">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
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Disclaimer:&nbsp;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.<a href="https://www.benzinga.com/apis?utm_source=benzinga.com&amp;utm_campaign=article-bottom" rel="noreferrer noopener" target="_blank"></a>

Elizabeth Warren Wins Third Senate Term, Overcomes Challenge From Crypto-Backed GOP Candidate John Deaton

North Dakota voters rejected Initiative Measure 5 legalizing recreational cannabis on Tuesday, with those opposed garnering 53.% of the vote, <a href="https://apnews.com/projects/election-results-2024/north-dakota/?r=83047">according</a> to AP.
The third time was not the charm for voters in North Dakota to legalize marijuana. Two years ago, a similar measure was also <a href="https://www.benzinga.com/markets/cannabis/22/11/29627576/north-dakota-loses-bid-to-legalize-adult-use-cannabis">rejected at the ballot box</a>, and another attempt in 2018 also failed. Even though Measure 5 offered a more structured approach to regulation and licensing, it was not enough to gather support. Even a summer poll indicated a tight battle, with <a href="https://www.benzinga.com/markets/cannabis/24/07/39602457/majority-of-north-dakotans-are-against-legal-weed-new-poll-finds">most voters not wanting legal weed</a>.
"While we are disappointed that Measure 5 did not pass, Curaleaf remains committed to advocating for responsible cannabis access and education across the country," Curaleaf&#8217;s (OTCQX:<a class="ticker" href="https://www.benzinga.com/stock/CURLF#OTCQX">CURLF</a>) chairman and CEO Boris Jordan told Benzinga. "Although this outcome continues to delay the opportunity for legal cannabis in North Dakota, we respect the democratic process and the will of the voters. Curaleaf believes in the potential of cannabis to improve lives and drive economic growth through job creation and tax revenue. As more states across the country embrace reform, we are confident that North Dakota will continue the conversation about cannabis legalization in the future.&#8221;
The New Economic Frontier formally launched the campaign in April after filing the initiative with the state. The organization highlighted the financial benefits North Dakota could gain by following neighboring states that have already legalized cannabis. 
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/11/41726679/village-farms-is-only-cannabis-operator-selected-to-represent-weed-industry-at-dea-rescheduling-">Village Farms Is Only Cannabis Operator Selected To Represent Weed Industry At DEA Rescheduling Hearing</a>
<h2 class="wp-block-heading">Measure 5</h2>
Under this measure, adults 21 and older would be allowed to use cannabis at home without punishment. The proposal would have allowed possession of one ounce of cannabis, 4 grams of concentrate and 1,500 milligrams of adult-use cannabinoid products. 
"Due to the failure to pass Measure 5, individuals in the state can still face criminal penalties for possession—from a criminal infraction of up to a $1,000 fine to a Class A misdemeanor," Paula Savchenko Esq., founding partner of Cannacore Group and PS Law Group told Benzinga. "Although criminal charges for cannabis-related offenses have declined since the state implemented its medical cannabis program, over 1,800 arrests were related to cannabis in 2023."
According to her, with medical cannabis sales at $21.6 million for the state in 2023, adult-use sales could reach $70 million within its first year of operations and acquire up to $115 million by its fourth year. She stressed that "the state has forgone the potential tax revenue from the program, which could have supported public services such as health, infrastructure and education.&#8221;
Savchenko pointed out that it is unlikely any other legalization effort will make it through the legislature, which means that voters will not be able to legalize adult-use cannabis until the next general election in 2026.
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">Industry Reactions</h2>
Leafwell CEO Emily Fisher told Benzinga, &#8220;Leafwell is disappointed that North Dakota did not support Measure 5, which would have expanded responsible access to cannabis for adults. We remain committed to educating and guiding North Dakotans on safe cannabis care and will continue to work toward increased access and regulation in the state.&#8221;
Gurpreet (Pete) Sahani CEO of The Blinc Group, commented, "Although this vote did not result in the legalization of recreational cannabis, the push for reform is far from over. Cannabis has already become a part of the national conversation, and North Dakota's progress toward legalization will continue. Advocates will keep pushing for a legal framework that promotes responsible use, economic growth, and social justice, ensuring this effort returns stronger in the next election cycle.
Louis Samuel, CEO of Golden State Canna, said "For the third time the voters of North Dakota have decided that the nickname they hold on their license plates, ‘The Peace Garden State' excludes the plant more associated with Peace than any other. Measure 5 provided an opportunity to overcome past failures of initiative and increase liberty in the state, but instead the voters of North Dakota have chosen to place tradition over progress and keep a shadow over their garden."
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Photo: Courtesy of CRYSTALWEED cannabis on Unsplash

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CURALEAF HLDGS INC by Curaleaf Hldgs Inc.

CURLF

North Dakotans Reject Measure To Legalize Recreational Cannabis, 'Keeping A Shadow Over Their Garden'

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Reported Earlier, au Jibun Bank Japan Services Purchasing Managers' Index For October 49.7 Vs. 49.3 Est.; 53.1 Prior

Nebraska voters chose to legalize and regulate medical cannabis on Tuesday via two ballot measures. 
<h3 class="wp-block-heading">What Happened </h3>
The AP <a href="https://apnews.com/projects/election-results-2024/nebraska/?r=83199">reported</a> Tuesday night that with nearly 60% of the votes counted, over 72.4% of Nebraska voters said yes to Initiative 437, thus enacting the Nebraska Medical Cannabis Protection Act. And 68.5% of voters approved Initiative 438, which enacts the Nebraska Medical Cannabis Regulation Act that will create a government board to regulate medical cannabis for patients.
<a href="https://www.benzinga.com/markets/cannabis/24/07/39598184/is-third-time-the-charm-nebraska-medical-marijuana-campaign-needs-12-000-more-signatures-by-july">After two unsuccessful attempts</a> &#8211; in 2020 and <a href="https://www.benzinga.com/markets/cannabis/22/07/28000535/nebraska-medical-cannabis-activists-submit-ballot-signatures-despite-legal-setback-financial-str">again in 2022</a> &#8211; to legalize medical marijuana, Nebraskans for Medical Marijuana, the cannabis legalization advocate group led by <a href="https://www.benzinga.com/markets/cannabis/24/07/39598184/is-third-time-the-charm-nebraska-medical-marijuana-campaign-needs-12-000-more-signatures-by-july">campaign manager</a> Crista Eggers, has made it. Activists submitted the required number of signatures earlier this year, totaling close to 115,000, surpassing the 86,500 needed. Secretary of State Bob Evnen certified both measures.
<h3 class="wp-block-heading">Why It Matters</h3>
Nebraska Medical Cannabis Protection Act allows qualified patients to use and possess up to five ounces of cannabis to treat and help alleviate their health conditions.
Under the Nebraska Medical Cannabis Regulation Act, Nebraska Medical Cannabis Commission is charged with establishing and adopting regulations for the new market.
Paula Savchenko, Esq.,&nbsp;founding&nbsp;partner of&nbsp;Cannacore Group&nbsp;and&nbsp;PS Law Group, shed light on the timeline of setting up a new market and a regulatory frame around it.
&#8220;Following the adoption of the Commission's regulations, the Commission must grant medical cannabis business licenses by October 1, 2025,&#8221; Savchenko told Benzinga. &#8220;Based on the proposed timeline set forth in the Act, the market may open as early as Summer 2026, depending on various factors such as construction of facilities, Commission inspections, licensing roll-out and potential litigation.&#8221;
Read Also: <a href="https://www.benzinga.com/markets/cannabis/23/10/35223869/nebraska-senate-hopeful-and-union-leader-at-first-says-no-but-then-opens-up-about-trying-marijua" target="_blank" rel="noreferrer noopener">Nebraska Senate Hopeful And Union Leader At First Says No, But Then Opens Up About Trying Marijuana</a>
<h3 class="wp-block-heading">Industry Praises Ballot Results</h3>
David Craig, chief marketing officer of Illicit Garden, which operates in neighboring Missouri where the use of both medical and recreational cannabis is legal, praised the ballot results.
&#8220;We applaud the citizens of Nebraska for embracing this significant change,&#8221; Craig said. &#8220;Legalizing medical cannabis opens the door to numerous opportunities—from boosting the state&#8217;s economy to rectifying long-standing social injustices related to cannabis prohibition. The cannabis industry is eager to collaborate with state officials, businesses, and community organizations to ensure the responsible and effective implementation of the new law.&#8221;
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Gurpreet (Pete) Sahani CEO of The Blinc Group, a company headquartered in New York City that designs, develops, supplies and supports premium cannabis vaping hardware, said legalization of medical cannabis is a &#8220;monumental step&#8221; for Nebraska.
&#8220;It will not only generate significant tax revenue for essential services like education and infrastructure but also relieve the criminal justice system of low-level cannabis offenses,&#8221; Sahani said. &#8220;With this new framework, Nebraska can establish a well-regulated market that prioritizes safety and accountability while offering a pathway to expungement for past cannabis-related offenses, rectifying past injustices."
John Mueller, CEO of Greenlight, a company that invested in the initiative, said "Today's decision by Nebraska voters marks the end of unnecessary delays and the beginning of a modern medical cannabis program rooted in proven healthcare practices."
<h3 class="wp-block-heading">Legal Disputes</h3>
However, Savchenko said the ongoing legal hurdles around the validity of the Initiatives&#8217; signatures could endanger legalization efforts.
Last week, Lancaster County District Judge Susan Strong allowed the votes cast for or against Nebraska's two medical cannabis ballot measures to be counted and made public.
The decision is an answer to a <a href="https://www.benzinga.com/markets/cannabis/24/09/40859403/former-gop-senator-wants-to-stop-cannabis-ballot-in-nebraska-lawsuit-targets-secretary-of-state-">lawsuit</a> filed by John Kuehn, who served in the Legislature from 2015 to 2019 and has been a leader in the anti-legalization group Smart Approaches to Marijuana (SAM), in September. He attempted to block medical marijuana measures from reaching the ballot.
&#8220;Closing arguments concluded last week, and Judge Susan Strong of the Lancaster County District Court has given both parties until November 12, 2024, to submit additional briefs,&#8221; Savchenko said. &#8220;A ruling may take several weeks, with medical cannabis advocates prepared to demonstrate sufficient signatures if the Judge rules in favor of the plaintiffs.&#8221;
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Regulations

Nebraska Says Yes To Medical Cannabis After Years Of Failed Legalization Attempts: Here's What You Need To Know

Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) has been fined $15 million by South Korea for unlawfully gathering sensitive personal information from Facebook users.
What Happened: The South Korean Personal Information Protection Commission found Mark Zuckerberg led Meta guilty of illegally collecting sensitive personal information from Facebook users, including details about their political views and sexual orientation. This information was then shared with thousands of advertisers, <a href="https://apnews.com/article/meta-facebook-south-korea-fine-privacy-9a1e9500d0462112c422e0612f1f7085">reported</a> the Associated Press.
The commission&#8217;s four-year investigation revealed that Meta had collected sensitive information about nearly 980,000 Facebook users from July 2018 to March 2022. This included their religion, political views, and whether they were in same-sex unions. The company then shared this data with around 4,000 advertisers.
According to South Korea&#8217;s privacy law, companies are prohibited from processing or using such data without the specific consent of the individuals involved. The commission also found that Meta failed to implement basic security measures, leading to data breaches affecting at least 10 South Korean Facebook users.
This is not the first time that Meta has faced penalties in South Korea. In 2022, the company was fined a combined 100 billion won ($72 million) for tracking consumers&#8217; online behavior without their consent and using their data for targeted advertisements.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41763537/bitcoin-hits-71k-ethereum-dogecoin-surge-as-results-trickle-in-for-trump-harris-presidenti?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin Hits $71K, Ethereum, Dogecoin Surge As Results Trickle In For Trump-Harris Presidential Battle: Analyst Predicts &#8216;Kickstart Of The Bull Market&#8217;</a>
Why It Matters: This fine is the latest in a series of penalties against Meta by South Korean authorities, reflecting a growing global trend of increased scrutiny over big tech companies&#8217; handling of private information. In September, European regulators also fined Meta over $100 million for a <a href="https://www.benzinga.com/news/24/07/39899685/meta-says-facebook-is-free-eu-threatens-to-fine-mark-zuckerberg-led-social-media-giant">security lapse in 2019</a>.
Despite these legal challenges, Meta has been making significant moves in the <a href="https://www.benzinga.com/markets/equities/24/11/41735903/meta-amazon-microsoft-partner-on-defense-ai-initiative">tech and defense sectors</a>. Earlier this week, the company announced a partnership with Amazon and Microsoft to provide its Llama artificial intelligence models for national security and defense applications. 
Meanwhile, <a href="https://www.benzinga.com/markets/equities/24/10/41658862/meta-is-an-ai-story-fueled-by-llama-and-meta-ai-says-bullish-analyst">analysts have been bullish</a> on Meta&#8217;s AI capabilities, with Bank of America labeling it an &#8220;AI Story&#8221; and pointing to the rapid and growing adoption of Llama and Meta AI. The firm also raised ad revenue estimates on product traction and anticipates Meta&#8217;s AI-driven ad improvements to play out in 2025.
Price Action: Meta stock closed at $572.43 on Tuesday, rising by 2.10%, for the day. In after-hours trading, the stock decreased 0.42%. Year to date, the stock has gained 65.30%, according to&nbsp;<a href="https://pro.benzinga.com/dashboard" target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>.
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Image Via Unsplash
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

Legal

Mark Zuckerberg-Led Meta Fined $15M In South Korea For Collecting Data Of Facebook Users Illegally

General

MSOS

Benzinga Election Update: AP Projects Trump With 230 Electoral Votes, Harris With 187 Electoral Votes, AP Projects Trump To Win North Carolina; Florida Rejects Cannabis Legalization Amendment

In a landmark decision, some 65% of Dallas voters approved the &#8220;Dallas Freedom Act&#8221; on Tuesday to decriminalize small amount of cannabis, setting the stage for major cannabis reform in one of Texas&#8217;s largest cities.
Election data from the Dallas County elections office indicate that roughly 149,500 people voted in favor of decriminalization, while approximately 81,200 voted against it, <a href="https://www.statesman.com/story/news/politics/elections/2024/11/05/dallas-county-2024-election-results-texas-marijuana-decriminalization-laws/76082707007/">according</a> to the Austin American Statesman.
Natalie Marquez, local field director with Dallas Freedom Act, said the early votes show that the Dallas community has decided it's time for a change.
"This decisive victory is very loud and clear when it comes to the state government's outdated approach to marijuana regulation, which has unnecessarily criminalized countless of Texas," Marquez said, as <a href="https://www.dallasnews.com/news/2024/11/05/dallas-voters-weed-proposition-marijuana-ballot/">reported</a> the Dallas Morning News.
With this vote, Dallas joins a growing list of cities across the state pushing for progressive marijuana policies, effectively decriminalizing possession of up to 4 ounces of cannabis.
<h3 class="wp-block-heading">What The New Law Means For Dallas</h3>
Under the newly approved amendment, the Dallas Police Department will cease issuing citations or making arrests for Class A or Class B misdemeanor marijuana possession offenses. 
The amendment further prohibits city funds from being used to test cannabis-related substances to determine legality under state and federal laws. Additionally, the Dallas Police are now restricted from using the smell of marijuana as probable cause for search and seizure, except under limited investigative circumstances. Violations of this policy could lead to penalties for officers, signaling a strong stance on civil liberties.
This decision comes after a successful petition drive led by Ground Game Texas, which gathered enough signatures to place the amendment on the ballot. The movement to reform cannabis laws in Dallas reflects broader statewide efforts, although resistance remains from figures like Attorney General Ken Paxton, who has been prosecuting other Texas cities for similar reforms.
<a href="https://drupal-cloudfront.benzinga.com/topic/cannabis-texas" target="_blank" rel="noreferrer noopener">Ground Game Texas</a>, the statewide advocacy group that has led or supported at least 10 city-based marijuana campaigns across the stat celebrated the news 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">&#x1f33f; Weed Did It, Dallas! &#x1f33f; Prop R has passed! Together, we've taken a big step toward justice, freedom, and a better future for our community. This is more than a victory for marijuana decriminalization—it's a win for the people of Dallas! &#x1f49a; <a href="https://t.co/yI26LKRity">pic.twitter.com/yI26LKRity</a>
&mdash; GroundGameTX (@GroundGameTX) <a href="https://twitter.com/GroundGameTX/status/1853993479610749376?ref_src=twsrc%5Etfw">November 6, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
<h3 class="wp-block-heading">Expanding Reforms Across Texas</h3>
In addition to Dallas, voters in Lockhart and Bastrop also weighed in on local cannabis decriminalization measures Tuesday. Results had not been made public at the time of this writing. 
As Dallas embraces this policy change, proponents see it as a step toward reshaping Texas's stance on cannabis. Supporters hope this will encourage other major cities to follow suit, despite legal pushback from state authorities.
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Cover: Photo by <a href="https://pixabay.com/es/users/timurban89-4260284/?utm_source=link-attribution&amp;utm_medium=referral&amp;utm_campaign=image&amp;utm_content=5307421">Tim Urban</a> via <a href="https://pixabay.com/es//?utm_source=link-attribution&amp;utm_medium=referral&amp;utm_campaign=image&amp;utm_content=5307421">Pixabay</a>

Dallas Overwhelming Approves Cannabis Decriminalization In Ballot Vote

AP Projects Trump Wins North Carolina

AI startup&nbsp;Perplexity, backed by Amazon.com, Inc. founder&nbsp;Jeff Bezos, is set to triple its valuation in its <a href="https://www.benzinga.com/markets/equities/24/10/41420230/jeff-bezos-backed-perplexity-aims-for-8b-valuation-in-new-funding-round-ai-fueled-google-challen">fourth funding round</a>&nbsp;this year.
What Happened: Perplexity is finalizing a funding round that would see its valuation skyrocket to $9 billion, an increase from its valuation of&nbsp;$520 million at the start&nbsp;of the year.
The AI-powered search company plans to raise $500 million,&nbsp;with Institutional Venture Partners leading the round, <a href="https://www.wsj.com/tech/ai/ai-startup-perplexity-to-triple-valuation-to-9-billion-in-new-funding-round-f2fb8c2c?mod=hp_lead_pos5">reported</a> the Wall Street Journal, citing people familiar with the matter.
The funding comes amid increased competition from ChatGPT-parent OpenAI and Alphbaet Inc.&#8217;s (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>) Google, both of which have introduced AI-powered <a href="https://www.benzinga.com/news/24/09/41087674/openais-searchgpt-set-to-disrupt-googles-search-empire-as-former-engineer-sounds-alarm-on-deteriorat">features in their search engines</a>.
Last month, OpenAI secured more than $6.5 billion in new funding&nbsp;at a <a href="https://www.benzinga.com/news/24/10/41149788/openai-valuation-soars-to-157b-in-latest-funding-round">valuation of $157&nbsp;billion</a>.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Why It Matters: In April 2024, Perplexity became a unicorn after a funding round that more than <a href="https://www.benzinga.com/news/24/04/38398735/jeff-bezos-backed-perplexity-ai-is-now-a-unicorn-after-latest-fundraise-softbanks-masayoshi-son-nvid">doubled its valuation to over $1 billion</a>. By August, the startup&#8217;s revenue and usage had grown <a href="https://www.benzinga.com/general/entrepreneurship/24/08/40292703/perplexity-ais-revenue-usage-skyrocket-as-it-enters-into-advertising">700% since the start of the year</a>.
Last month, Perplexity <a href="https://www.benzinga.com/news/24/10/41399723/jeff-bezos-backed-perplexity-ai-aims-to-break-google-and-metas-duopoly-with-new-internal-knowledge-s">introduced new features</a> aimed at improving user experience and breaking the duopoly of Google and Meta Platforms in the search and advertising industry.
However, the AI startup, which provides answers to&nbsp;questions by searching the web, has also <a href="https://www.benzinga.com/news/24/10/41442679/rupert-murdochs-dow-jones-new-york-post-sue-jeff-bezos-backed-perplexity-for-copyright-infringement">faced criticism from&nbsp;news</a> companies for using their&nbsp;reporting without fair compensation.
Check out more of Benzinga's Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Photo courtesy: 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.

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Jeff Bezos-Backed AI Startup Perplexity Set To Triple Valuation To $9B in Fourth Funding Round — Can It Beat OpenAI And Google?

Popular dog-themed meme cryptocurrency, Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>), soared on election night amid heightened expectations of an Elon Musk-touted Department of Government Efficiency (DOGE) under the new Donald Trump administration.
What happened: The original meme coin exploded more than 25% in the last 24 hours to $0.20, the highest it has been in the last seven months.&nbsp;
DOGE's trading volume spiked 117% to over $6 billion, making it the third-most traded cryptocurrency in the last 24 hours, behind Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>).
The rally pushed the meme token's monthly gains past 84% and year-to-date returns to 135%.&nbsp;
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41756625/will-donald-trump-prematurely-claim-victory-5-polymarket-markets-to-watch-on-election-nigh">Will Donald Trump Prematurely Claim Victory? 5 Polymarket Markets To Watch On Election Night</a>
Why It Matters: The jump came as the cryptocurrency market leaned in favor of a Trump victory after <a href="https://www.benzinga.com/news/24/11/41762845/trump-wins-kentucky-indiana-harris-scores-vermont-as-polls-begin-to-close-across-us">preliminary results showed</a> the GOP nominee securing Kentucky and Indiana while also leading in the battleground states of Georgia and Pennsylvania.&nbsp;
The odds of a Trump <a href="https://polymarket.com/">win </a>shot up to 88% on cryptocurrency-based prediction market Polymarket as of this writing.
Trump's victory is closely tied to DOGE's fortunes, as Musk, arguably the coin's most influential cheerleader, would join the administration to lead the <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">so-called DOGE department</a> to address what he saw as issues in the federal bureaucracy.
Musk has been <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41734897/elon-musks-doge-department-mention-gives-dogecoin-boost-to-top-of-daily-gainers-memecoin-s">marketing the DOGE department</a> everywhere, from X posts to political rallies, resulting in brief but sharp rises for the meme coin.
Price Action: At the time of writing, Dogecoin was exchanging hands at $0.2046, up 25.64% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>.
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Jim Cramer, the host of CNBC&#8217;s &#8220;Mad Money,&#8221; has criticized Super Micro Computer Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>) for its recent business update and preliminary <a href="https://www.benzinga.com/news/earnings/24/11/41759924/super-micro-computer-stock-sinks-on-preliminary-q1-results-q2-guidance-business-update">first-quarter results</a>.
What Happened: Cramer took to X to express his views on Super Micro&#8217;s performance. &#8220;Super Micro is so good at exonerating itself, better than it is selling,&#8221; NVIDIA Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) GPUs, he wrote.
<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">Super Micro is so good at exonerating itself, better than it is selling Nvidia gpus!
&mdash; Jim Cramer (@jimcramer) <a href="https://twitter.com/jimcramer/status/1853925747028533690?ref_src=twsrc%5Etfw">November 5, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
The tweet comes after Super Micro provided its <a href="https://www.benzinga.com/news/earnings/24/11/41759924/super-micro-computer-stock-sinks-on-preliminary-q1-results-q2-guidance-business-update">preliminary first-quarter results</a> on Tuesday. The company expects to report revenue of $5.9 billion to $6 billion for the quarter, a decrease from its previous guidance of $6 billion to $7 billion.
The company also anticipates adjusted earnings of 75 cents to 76 cents per share, compared to its previous guidance of 67 cents to 83 cents per share. The first-quarter gross margin is expected to be around 13.3%.
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Why It Matters: Super Micro&#8217;s <a href="https://www.benzinga.com/news/earnings/24/11/41759924/super-micro-computer-stock-sinks-on-preliminary-q1-results-q2-guidance-business-update">second-quarter revenue</a> is projected to be between $5.5 billion and $6.1 billion, with adjusted earnings of 56 cents to 65 cents per share. 
Super Micro&#8217;s financial credibility has been a concern for investors following significant governance issues. The company&#8217;s <a href="https://www.benzinga.com/trading-ideas/movers/24/10/41625460/super-micro-computer-stock-dives-as-auditor-resigns-whats-going-on">shares plunged after its independent auditor</a>, Ernst &amp; Young, resigned due to governance and transparency concerns. Super Micro has been working to stabilize in the wake of these challenges.
Price Action: Super Micro Computer Inc. closed at $27.70 on Tuesday, marking a gain of 6.42%, for the day. In after-hours trading, the stock dropped 15.88%. Year to date, the stock is down 2.98%, according to&nbsp;<a href="https://pro.benzinga.com/dashboard" target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>. 
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Image Via Shutterstock
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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CORRECTION -- Enerpac Tool Group Reports Fourth Quarter and Full-Year Fiscal 2024 Results; Introduces Full-Year Fiscal 2025 Outlook

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