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President-elect Donald Trump met Argentina President&nbsp;Javier Milei at his Mar-a-Lago resort Thursday. This was his first meeting with a world leader since winning the elections last week.
What Happened: Milei congratulated Trump on his election victory, lending support to the shared ideas of liberty and economic prosperity, <a href="https://www.bloomberg.com/news/articles/2024-11-15/argentine-president-milei-praises-trump-at-mar-a-lago-event?srnd=homepage-europe">Bloomberg</a> reported. 
"Today, the winds of freedom are blowing much stronger,"&nbsp;he said in Spanish at the America First Policy Institute event.&nbsp;&#8220;I am exhilarated to be able to share with the new U.S. administration the same level of freedom, and I'm convinced that together we will restore it to the place it deserves.
Milei, who assumed office a year ago, also praised tech mogul Elon Musk, who was in the audience, for promoting free speech through X. 
Trump, in turn, acknowledged Milei&#8217;s speech, stating, &#8220;Your speech was beautiful, but the job you've done is incredible.&#8221;
See Also: <a href="https://www.benzinga.com/24/11/41999143/microstrategy-ceo-michael-saylor-expects-more-pro-bitcoin-policies-under-incoming-trump-administration">Michael Saylor Is Planning A Bitcoin $100K Party At His House, Expects End Of War On Crypto Under Trump</a>
Why It Matters: Milei has earned praise from Trump for his economic policies. During an <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40329146/trump-praises-pro-bitcoin-argentina-president-javier-mileis-maga-like-economic-policies-in">interview</a> with Musk In August, the president-elect highlighted Argentina&#8217;s prosperity under Milei&#8217;s leadership, drawing parallels to his own &#8220;Make America Great Again&#8221; policy.
There has been significant bonhomie between Musk and Milei as well. The two met warmly in September <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40994028/elon-musk-dons-his-maga-hat-to-meet-pro-bitcoin-president-javier-milei-duo-discuss-argenti">on the sidelines</a> of Argentina&#8217;s national speech to the United Nations General Assembly.
Prior to that, Musk <a href="https://www.benzinga.com/24/09/40679115/elon-musk-praises-pro-bitcoin-president-javier-mileis-efforts-in-restoring-argentina-to-greatness-am">expressed his admiration</a> for Milei&#8217;s efforts in <a href="https://www.benzinga.com/24/09/40679115/elon-musk-praises-pro-bitcoin-president-javier-mileis-efforts-in-restoring-argentina-to-greatness-am">restoring Argentina&#8217;s stature</a>.
Milei secured victory in the November elections after promising large cuts in public spending to address Argentina&#8217;s fiscal deficit and increasing inflation. His libertarian stance is also reflected in his support for Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), making him one of the very few heads of state to openly endorse the asset.
However, the president has also faced criticism for his austerity measures, <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40825073/pro-bitcoin-president-javier-milei-triumphs-as-pension-spending-hike-stalled-in-argentinas" target="_blank" rel="noreferrer noopener">with many taking to the streets </a>to oppose his attempts to halt the increase in pension spending.
resident of the Republic of Armenia via Wikimedia Commons
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Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

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$BTC

TSLA

Pro-Bitcoin Argentina President Javier Milei Becomes First Foreign Leader To Meet Trump: 'Winds Of Freedom Are Blowing Much Stronger'

Nexxen International Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NEXN#NASDAQ">NEXN</a>) will release earnings results for its third quarter, before the <a href="https://www.benzinga.com/quote/NEXN/earnings">opening bell on Friday, Nov. 15.</a>
Analysts expect the Tel Aviv-Yafo, Israel-based bank to report quarterly earnings at 13 cents per share, down from 18 cents per share in the year-ago period. Nexxen projects to report revenue of $88.65 million for the recent quarter, compared to $80.09 million a year earlier, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
On Aug. 22, Nexxen International posted better-than-expected sales for the second quarter.
Nexxen shares gained 1.9% to close at $7.67 on Thursday.
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/TCOM/analyst-ratings">analysts have rated the company</a> in the recent period.
<ul>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/64da23ec2e59fb0001505ffd/matthew-swanson">RBC Capital analyst Matthew Swanson</a> maintained an Outperform rating and raised the price target from $9 to $11 on Aug. 23. This analyst has an accuracy rate of 62%.</li>
<li>Needham analyst Laura Martin maintained a Buy rating and raised the price target from $6.5 to $8.5 on Aug. 23. This analyst has an accuracy rate of 74%.</li>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/598858a9803ad30001474c48/andrew-boone">JMP Securities analyst Andrew Boone</a> reiterated a Market Outperform rating with a price target of $11 on June 14. This analyst has an accuracy rate of 61%.</li>
<li>Stifel analyst Mark Kelley maintained a Hold rating and raised the price target from $5.5 to $6 on May 21. This analyst has an accuracy rate of 88%.</li>
</ul>
Considering buying NEXN stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="546" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/15004101/image-161-1024x546.png" alt="" class="wp-image-649585" style="width:659px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/15004101/image-161-1024x546.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/15004101/image-161-300x160.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/15004101/image-161-768x409.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/15004101/image-161.png 1220w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
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Earnings

Price Target

Pre-Market Outlook

Analyst Ratings

Trading Ideas

NEXN

Top Wall Street Forecasters Revamp Nexxen International Price Expectations Ahead Of Q3 Earnings

Macro Economic Events

Econ #s

Economics

BBJP

WisdomTree Trust Japan Total Dividend Fund

Reported Earlier, Japan Industrial Production (MoM) For September 1.6% Vs. 1.4% Est.; 1.4% Prior

With U.S. stock futures trading lower this morning on Friday, some of the stocks that may grab investor focus today are as follows:
<ul>
<li>Wall Street expects Alibaba Group Holding Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>) to report quarterly earnings at $2.1 per share on revenue of $33.95 billion before the opening bell, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>. Alibaba shares rose 0.1% to $90.70 in after-hours trading.</li>
<li>Applied Materials, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMAT#NASDAQ">AMAT</a>) reported better-than-expected earnings for its fourth quarter. For the first quarter of fiscal 2025, Applied said it expects net revenue to be approximately $7.15 billion, plus or minus $400 million. Non-GAAP diluted EPS is expected to be approximately $2.29, plus or minus 18 cents. Applied Materials shares fell 6% to $174.90 in the after-hours trading session.</li>
<li>Analysts are expecting Spectrum Brands Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPB#NYSE">SPB</a>) to post quarterly earnings at $1.02 per share on revenue of $746.54 million. The company will release earnings before the markets open. Spectrum Brands shares gained 1.8% to $95.50 in after-hours trading.</li>
</ul>
Check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
<ul>
<li>Despegar.com, Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DESP#NYSE">DESP</a>) reported better-than-expected third-quarter earnings and sales results on Thursday. The company said it sees FY24 revenue of at least $760 million and adjusted EBITDA of at least $170 million. Despegar.com shares jumped 13.4% to $16.85 in the after-hours trading session.</li>
<li>Analysts expect RLX Technology Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RLX#NYSE">RLX</a>) to report quarterly earnings at 3 cents per share on revenue of $105.08 million before the opening bell. RLX Technology shares gained 0.6% to $1.64 in after-hours trading.</li>
</ul>
Check This Out: 
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<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>
Photo courtesy: Shutterstock

AMAT

BABA

DESP

Alibaba, Applied Materials And 3 Stocks To Watch Heading Into Friday

Reported Earlier, Chinese Unemployment Rate For October 5.0% Vs. 5.1% Est.; 5.1% Prior

Reported Earlier, China Industrial Production Year to Date (YoY) For October 5.8% Vs. 5.8% Prior

Reported Earlier, China Industrial Production (YoY) For October 5.3% Vs. 5.5% Est.; 5.4% Prior

Reported Earlier, China Fixed Asset Investment (YoY) For October 3.4% Vs. 3.5% Est.; 3.4% Prior

Alibaba Group Holding Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>) will release earnings results for its second quarter, before the <a href="https://www.benzinga.com/quote/BABA/earnings">opening bell on Friday, Nov. 15.</a>
Analysts expect the China-based company to report quarterly earnings at $2.1 per share on revenue of $33.95 billion, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Alibaba Group, last month, decided to settle a class-action lawsuit filed by its shareholders for $433.5 million. The lawsuit alleged that the company had made misleading statements about its exclusivity practices.
Alibaba shares fell 1.5% to close at $90.58 on Thursday.
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/BABA/analyst-ratings">analysts have rated the company</a> in the recent period.
<ul>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/598858a9803ad30001474c4d/james-lee">Mizuho analyst James Lee</a> maintained an Outperform rating and raised the price target from $92 to $113 on Nov. 12. This analyst has an accuracy rate of 83%.</li>
<li>Baird analyst Colin Sebastian maintained an Outperform rating and increased the price target from $88 to $110 on Oct. 24. This analyst has an accuracy rate of 81%.</li>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/5804be1a846faa000106aa69/rob-sanderson">Loop Capital analyst Robert Sanderson</a> maintained a Buy rating with a price target of $115 on Aug. 29. This analyst has an accuracy rate of 71%.</li>
<li>Susquehanna analyst Shyam Patil maintained a Positive rating and cut the price target from $135 to $130 on Aug. 19. This analyst has an accuracy rate of 69%.</li>
<li>Truist Securities analyst Youssef Squali maintained a Buy rating and slashed the price target from $110 to $100 on Aug. 16. This analyst has an accuracy rate of 81%.</li>
</ul>
Considering buying BABA stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="549" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/15003733/image-160-1024x549.png" alt="" class="wp-image-649569" style="width:608px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/15003733/image-160-1024x549.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/15003733/image-160-300x161.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/15003733/image-160-768x412.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/15003733/image-160.png 1227w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
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Alibaba Gears Up For Q2 Print; Here Are The Recent Forecast Changes From Wall Street's Most Accurate Analysts

Reported Earlier, Japan Gross Domestic Product Price Index (YoY) Preliminary For Q3 2.5% Vs. 2.8% Est.; 3.1% (Revised) Prior

Reported Earlier, Japan Gross Domestic Product (QoQ) Preliminary For Q3 0.2% Vs. 0.2% Est.; 0.5% (Revised) Prior

Reported Earlier, Japan Gross Domestic Product (YoY) Preliminary For Q3 0.9% Vs. 2.2% (Revised) Prior

Amid Comcast Corp&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMCSA#NASDAQ">CMCSA</a>) <a href="https://www.benzinga.com/news/earnings/24/10/41653550/comcast-q3-earnings-olympics-power-nbcuniversal-gains-peacock-hits-36m-subscribers-explores-forming">impending cable networks</a> spinoff,&nbsp;Walt Disney Co.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>) CEO Robert A. Iger has ruled out the need for further mergers and acquisitions.
What Happened: On Thursday, during <a href="https://www.benzinga.com/24/11/41971559/disneys-q4-boosted-by-streaming-gains-strong-box-office-and-solid-parks-performance">Disney&#8217;s fourth-quarter earnings</a> call, UBS analyst John Hodulik asked Iger about the potential for Disney to make similar moves.
In response, Iger pointed to Disney&#8217;s successful acquisition of assets from 20th Century Fox in 2017, driven by the rise of streaming. This strategic move has led to&nbsp;approximately 174 million global subscribers&nbsp;for Disney.
See Also:&nbsp;<a href="https://www.benzinga.com/tech/24/11/41868328/amazons-ai-investment-palantirs-winning-strategy-metas-bee-problem-and-palantirs-eye-popping-results-this-week-in-ai?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Amazon&#8217;s AI Investment, Palantir&#8217;s Winning Strategy, Meta&#8217;s Bee Problem, And Palantir&#8217;s &#8216;Eye-Popping&#8217; Results: This Week In AI</a>
&#8220;We, in many respects, have&nbsp;already consolidated. We don&#8217;t really&nbsp;need more assets right now,&nbsp;either from a distribution or&nbsp;from a content perspective to&nbsp;thrive in basically a disruptive&nbsp;media world,&#8221; Iger said.
Disney&#8217;s senior executive vice president&nbsp;and CFO, Hugh Johnston, also rejected the idea of divestitures, stating that he did not see a value-creating opportunity for Disney in this regard.
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: Disney&#8217;s fourth-quarter earnings were boosted by streaming gains, strong box office performance, and solid park performance. The company reported a 6% YoY revenue growth to $22.57 billion, marginally beating the analyst consensus of $22.35 billion.
Comcast is exploring a spinoff of its NBCU Cable Networks into a new company. This move was announced by Comcast president Mike Cavanagh at the company&#8217;s third-quarter earnings.
Comcast reported a revenue decline of 6.5% YoY to $32.07 billion at the time, beating the&nbsp;<a href="https://www.benzinga.com/pressreleases/24/10/b41648656/comcast-reports-3rd-quarter-2024-results" target="_blank" rel="noreferrer noopener">analyst consensus estimate of $31.64 billion</a>.
Price Action: Disney shares closed Thursday's session with a 6.23% gain, finishing at $109.12. However, in after-hours trading, the stock saw a slight dip, settling at $108.50 as of the latest update.
In contrast, Comcast shares declined by 0.98% in Thursday&#8217;s session, closing at $43.48, according to data from <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>.
Image via Shutterstock
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>.
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<li><a href="https://www.benzinga.com/tech/24/11/41894509/apples-next-big-bet-think-smaller-says-analyst-there-will-never-be-another-iphone?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Apple&#8217;s Next Big Bet? Think Smaller, Says Analyst: &#8216;There Will Never Be Another… iPhone&#8217;</a></li>
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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.

Entertainment

Tech

CMCSA

Bob Iger Slams The Brakes On New M&A Amid Comcast's Cable Spinoff: Disney Doesn't 'Really Need More Assets' To Compete

Microsoft Corporation&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) and&nbsp;NASA&nbsp;have introduced an AI tool, Earth Copilot, to simplify the access and understanding of Earth&#8217;s scientific data.
What Happened: On Thursday, the tech behemoth and the space agency announced the AI chatbot that can respond to queries about our planet by referring to NASA&#8217;s vast data repository.
The tool is intended to &#8220;democratize&#8221; access to scientific data, making it more comprehensible for non-researchers.
Sharing the development on X, formerly Twitter, Microsoft CEO Satya Nadella said NASA's geospatial data offers insights on climate, air quality, and disasters, but its complexity makes it hard to navigate.
&#8220;With Earth Copilot, they&#8217;re making it easier than ever for anyone to access that data,&#8221; he stated.
See Also:&nbsp;<a href="https://www.benzinga.com/tech/24/11/41868328/amazons-ai-investment-palantirs-winning-strategy-metas-bee-problem-and-palantirs-eye-popping-results-this-week-in-ai?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Amazon&#8217;s AI Investment, Palantir&#8217;s Winning Strategy, Meta&#8217;s Bee Problem, And Palantir&#8217;s &#8216;Eye-Popping&#8217; Results: This Week In AI</a>
At present, Earth Copilot is exclusively&nbsp;available to NASA scientists and&nbsp;researchers for evaluation of its capabilities.
The subsequent step will be to consider&nbsp;its integration into NASA's Visualization,&nbsp;Exploration, and Data Analysis (VEDA)platform, which already provides&nbsp;access to some of the&nbsp;agency&#8217;s data.
<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">NASA&#39;s repository of geospatial data contains key insights on everything from climate and air quality to urban planning and disaster response—but its scale and complexity make it difficult to parse. With Earth Copilot, they&#39;re making it easier than ever for anyone to access that… <a href="https://t.co/8PcHTs8ymF">pic.twitter.com/8PcHTs8ymF</a>
&mdash; Satya Nadella (@satyanadella) <a href="https://twitter.com/satyanadella/status/1857123978399318389?ref_src=twsrc%5Etfw">November 14, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
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: This development comes in the wake of Microsoft&#8217;s <a href="https://www.benzinga.com/news/earnings/24/10/41636770/microsoft-q1-earnings-highlights-ai-driven-transformation-is-changing-work-company-beats-revenue-ep">first-quarter&nbsp;earnings report</a>, where the company highlighted the transformative role of AI in changing work dynamics.
Microsoft reported revenue of $65.60 billion, a 16% year-over-year increase, surpassing the Street&#8217;s consensus estimate of $64.51 billion, according to <a href="https://www.benzinga.com/pro/?utm_source=BZprocontent103024&amp;t=be2bearmibe3na1">Benzinga Pro data</a>.
The company&#8217;s AI business is set to hit a <a href="https://www.benzinga.com/markets/equities/24/10/41643178/microsofts-ai-business-set-to-hit-10b-revenue-milestone-in-q2-satya-nadella-says-it-is-the-faste">$10 billion revenue milestone</a> in the second quarter, stated Nadella during the earnings call.
Price Action: Microsoft shares closed Thursday's session with a 0.40% increase, finishing at $426.89. However, in after-hours trading, the stock saw a slight decline, settling at $426.20 as of the latest update.
Photo by WEF on Flickr
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>.
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Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

MSFT

Satya Nadella Touts Microsoft's Latest AI Mission: Making NASA's Earth Data Speak Plain English

&nbsp;XRP and Litecoin racked up impressive gains Thursday even as blue-chip cryptocurrencies took a breather.
What happened: Payment-focused cryptocurrency XRP emerged as the best-performing cryptocurrency in the last 24 hours, surging nearly 18%.&nbsp;
The coin's trading volume soared 50% to $10.54 billion, making it one of the most traded cryptocurrencies in the last 24 hours.
The rally followed SEC Chair Gary Gensler's remarks <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41993524/gary-gensler-hints-at-ending-his-stint-as-sec-chair-defends-crypto-regulation-agenda">suggesting he may be ending his stint</a>.&nbsp;
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 10:30 p.m. EDT)</td>
</tr>
<tr>
<td>XRP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>)</td>
<td>+17.94%</td>
<td>$0.8199</td>
</tr>
<tr>
<td>Litecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/ltc/usd">LTC</a>)</td>
<td>+8.59%</td>
<td>$81.57</td>
</tr>
</tbody>
</table>
</figure>
Ripple Labs has been locked in a nearly <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40240559/xrp-outshines-bitcoin-ethereum-to-become-biggest-daily-gainer-after-judge-imposes-125m-pen">four-year-long legal battle</a> with the SEC over the status of XRP, the coin at the center of the company's operations.
With the latest upswing, XRP's weekly gains nearly hit 50%.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41873427/shiba-inu-lead-developer-shytoshi-kusama-pitches-s-h-i-b-in-response-to-elon-musks-call-for-new-roles-recommendations-in-trump-administration">Shiba Inu Lead Developer Shytoshi Kusama Pitches S.H.I.B In Response To Elon Musk&#8217;s Call For New Roles Recommendations In Trump Administration</a>
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) hard fork Litecoin was also among the top gainers, surging over 8% in the last 24 hours. The proof-of-work (PoW) cryptocurrency topped $84 for the first time in over five months.&nbsp;
The jump came in response to a rather bizarre post by Litecoin's X handle, declaring that it identifies itself as a meme coin.&nbsp;
While the objective may have been to humorously contrast LTC&#8217;s lackluster trajectory with that of meme currencies, it seems that the bait worked.
<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">Due to current market conditions I now identify as a memecoin.
&mdash; Litecoin (@litecoin) <a href="https://twitter.com/litecoin/status/1856863438787481635?ref_src=twsrc%5Etfw">November 14, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
The uptick observed for XRP and LTC was in contrast to the corrective price action of Bitcoin and Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) on Thursday.
Year-to-date, XRP's gains improved by 33%, while LTC continued to be a laggard at 12%. In comparison, Bitcoin was up over 108%, while Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>) and BNB (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/bnb/usd">BNB</a>) rose 105% and 99%, respectively.
Image via Shutterstock
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/24/11/41999143/microstrategy-ceo-michael-saylor-expects-more-pro-bitcoin-policies-under-incoming-trump-administration">Michael Saylor Is Planning A Bitcoin $100K Party At His House, Expects End Of War On Crypto Under Trump</a></li>
</ul>

Movers

$BNB

$ETH

$LTC

$SOL

$XRP

Gary Gensler's Departure Talk Fuels XRP, 'Meme Coin' Play Powers Litecoin As Action Shifts To Lagging Altcoins

Prominent Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) investor Ross Gerber blasted Tesla&#8217;s <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41988194/trump-plans-to-erase-ev-tax-credit-analyst-says-its-net-bullish-calls-sell-off-wrong-knee-jerk-reaction">reported support for eliminating the $7,500 federal electric vehicle tax credit</a>, calling the position &#8220;insanity&#8221; on social media platform X. 
What Happened: The CEO of Gerber Kawasaki Wealth and Investment Management was responding to reports that Tesla is backing the President-elect Donald Trump administration&#8217;s plans to end the incentive.
The move appears to contradict Tesla&#8217;s stated mission of accelerating the world&#8217;s transition to sustainable transport. According to a recent Reuters report, Tesla has <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41988194/trump-plans-to-erase-ev-tax-credit-analyst-says-its-net-bullish-calls-sell-off-wrong-knee-jerk-reaction">indicated support for removing the tax credit</a> despite having previously lobbied for the incentive, which has boosted the company&#8217;s U.S. sales in recent years.
The shift in Tesla&#8217;s stance comes as CEO Elon Musk, who has endorsed Trump, reportedly believes eliminating the credit would harm competitors more than Tesla. This marks a departure from Musk&#8217;s previous positions, including his resignation from Trump&#8217;s business council in 2017 over the U.S. withdrawal from the Paris climate agreement.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Insanity. <a href="https://twitter.com/search?q=%24tsla&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$tsla</a> <a href="https://twitter.com/hashtag/tesla?src=hash&amp;ref_src=twsrc%5Etfw">#tesla</a> <a href="https://t.co/Yn0EfTlQu8">https://t.co/Yn0EfTlQu8</a>
&mdash; Ross Gerber (@GerberKawasaki) <a href="https://twitter.com/GerberKawasaki/status/1857133916370657302?ref_src=twsrc%5Etfw">November 14, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also: <a href="https://www.benzinga.com/24/11/41998258/cathie-wood-keeps-betting-on-amazons-haul-play-ark-loads-up-6m-worth-of-shares">Cathie Wood Keeps Betting On Amazon&#8217;s &#8216;Haul&#8217; Play: Ark Loads Up $6M Worth Of Shares</a>
Why It Matters: Investment experts are divided on the potential impact. Gary Black, managing partner at The Future Fund LLC, warns that Tesla has the most to lose, noting that removing the credit would effectively raise Tesla&#8217;s U.S. vehicle prices by 20% and affect <a href="https://www.benzinga.com/news/global/24/11/41998381/tesla-earnings-will-be-hit-hardest-if-7500-ev-credit-is-cut-warns-gary-black-citing-80-dependence-on-ev-sales-please-do-the-math">roughly 30% of its global sales</a>. 
However, Wedbush analyst Dan Ives suggests the move could ultimately benefit Tesla due to its superior scale compared to competitors.
The debate intensifies as Tesla aims for <a href="https://www.benzinga.com/tech/24/11/41894615/tesla-q4-deliveries-expected-to-set-new-records-but-not-enough-to-avoid-yearly-sales-decline-says-researcher">record sales in the fourth quarter of 2024</a> to avoid its first annual decline in deliveries. The potential elimination of the tax credit would require congressional approval and could significantly impact EV adoption in the United States, which already lags behind other major markets.
Price Action: Tesla stock closed at $311.18 on Thursday, down 5.77% for the day. In after-hours trading, Tesla slipped a further 1.15%. Despite recent drops, Tesla's stock has gained 25.26% year to date, according to <a href="https://www.benzinga.com/pro/" target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>.
Read Next: 
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<li><a href="https://www.benzinga.com/news/24/11/41997224/elliott-investment-management-adds-to-southwest-western-digital-etsy-match-group-trims-bill-holdings-seadrill-blackline-nrg-energy-in-q3">Elliott Investment Management Adds To Southwest, Western Digital, Etsy, Match Group; Trims BILL Holdings, Seadrill, BlackLine, NRG Energy In Q3</a></li>
</ul>
Courtesy of Tesla, Inc.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Equities

Global

Long-Time Tesla Bull Rages As Elon Musk Reportedly Backs Trump's Plan To Ax $7.5K EV Credit: 'Insanity'

Michael Saylor, CEO of MicroStrategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>), deemed the Donald Trump-led Republican triumph the &#8220;biggest&#8221; bullish catalyst for Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) over the last four years.
What Happened: In an interview with CNBC on Thursday, Saylor said that the &#8220;red wave&#8221; has been &#8220;incredibly auspicious&#8221; for Bitcoin and the broader cryptocurrency industry.
The Bitcoin bull anticipated a friendlier SEC at the helm amid speculations of current chair Gary Gensler stepping aside.
&#8220;It&#8217;s very good for the cryptocurrency industry. We&#8217;re going to see a lot more pro-Bitcoin policies. We are going to see a digital assets framework. We are going to see an end to the war on crypto.,&#8221; Saylor predicted. 
<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">&quot;The red wave is probably the biggest thing that has happened in the past four years for bitcoin&quot; &#8211; <a href="https://twitter.com/MicroStrategy?ref_src=twsrc%5Etfw">@MicroStrategy</a> founder &amp; chairman <a href="https://twitter.com/saylor?ref_src=twsrc%5Etfw">@saylor</a> on his crypto expectations under a second Trump presidency. <a href="https://t.co/9BYAYgLGe8">pic.twitter.com/9BYAYgLGe8</a>
&mdash; CNBCOvertime (@CNBCOvertime) <a href="https://twitter.com/CNBCOvertime/status/1857179737606459844?ref_src=twsrc%5Etfw">November 14, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
With the election uncertainty behind, Saylor also ruled out any major bearish events for Bitcoin in the foreseeable future.
&#8220;I am planning the $100,000 party, and I am thinking it is probably going to be New Year&#8217;s Eve at my house. So, I would be surprised if we don&#8217;t go through $100,000 in November or December,&#8221; Saylor said in a burst of enthusiasm.
See Also: <a href="https://www.benzinga.com/news/events/24/11/41992186/could-new-legislation-finally-bring-clarity-to-us-crypto-rules-industry-expert-weighs-in">Could New Legislation Finally Bring Clarity To US Crypto Rules? Industry Expert Weighs In</a>
Why It Matters: Saylor&#8217;s bullish sentiment aligned with the ongoing success of his company&#8217;s publicly-traded stock. 
MicroStrategy&#8217;s shares hit a record high earlier this week, pushing the firm&#8217;s market valuation to $72.26 billion, a $50 billion increase since September 6. This gain <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41961419/bitcoin-proxy-microstrategy-added-more-to-its-market-cap-in-last-2-months-than-what-ford-is-worth-currently">surpassed the total capitalization</a> of Ford Motor Co. (F) and Cognizant Technology Solutions Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CTSH#NASDAQ">CTSH</a>).
The firm, known famously as Bitcoin&#8217;s biggest corporate holder, was sitting on unrealized profits of over $12.7 billion as of this writing, <a href="https://bitcointreasuries.net/" target="_blank" rel="noreferrer noopener">according&nbsp;</a>to data from bitcointreasuries.net.&nbsp;&nbsp;
The company&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41646462/michael-saylor-says-bitcoin-remedy-to-fix-unhealthy-balance-sheets-as-microstrategy-unveil" target="_blank" rel="noreferrer noopener">announced plans</a>&nbsp;to raise as much as $42 billion in equity and debt funding over the next three years to accumulate more Bitcoin.
Price Action: At the time of writing, Bitcoin was exchanging hands at $88,288.00, down 1.73% 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.." target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>. Shares of MicroStrategy closed 0.22% lower at $327.67 during Thursday&#8217;s regular trading session.
Photo Courtesy: Wikimedia
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/legal/24/11/41996491/18-republican-states-sue-bidens-sec-over-harsh-crypto-crackdown">18 Republican States Sue Biden&#8217;s SEC Over Harsh Crypto Crackdown</a></li>
</ul>

CTSH

MSTR

Michael Saylor Is Planning A Bitcoin $100K Party At His House, Expects End Of War On Crypto Under Trump

Federal Reserve Chair Jerome Powell faced sharp criticism from prominent economist Mohamed El-Erian following a Dallas Chamber event Thursday, where Powell&#8217;s cautious stance on rate cuts <a href="https://www.benzinga.com/news/treasuries/24/11/41993899/powells-hawkish-remarks-shake-markets-stocks-fall-dollar-rockets-bitcoin-dips">triggered significant market movements</a>.
What Happened: El-Erian, Chief Economic Advisor at Allianz, critiqued Powell&#8217;s performance on social media platform X, noting that the Fed chair &#8220;struggled with smart questions&#8221; and &#8220;confused the economics of different possible scenarios.&#8221; 
El-Erian suggested Powell might avoid similar interview formats in the future, particularly highlighting the chair&#8217;s unclear response regarding new monetary frameworks.
During the Dallas event, Powell emphasized the <a href="https://www.benzinga.com/news/treasuries/24/11/41993899/powells-hawkish-remarks-shake-markets-stocks-fall-dollar-rockets-bitcoin-dips">U.S. economy&#8217;s exceptional strength</a> while maintaining a careful position on potential rate cuts. &#8220;Inflation is running much closer to our 2% longer-run goal, but it is not there yet. We are committed to finishing the job,&#8221; Powell stated, indicating no rush to lower rates despite market expectations.
<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">I doubt Fed Chair Powell will do another interview like this anytime soon. He struggled with some of the smart questions, often deflecting with historical explanations, and he confused the economics of different possible scenarios. His response to the question on a new monetary… <a href="https://t.co/x0qpYzWDUz">https://t.co/x0qpYzWDUz</a>
&mdash; Mohamed A. El-Erian (@elerianm) <a href="https://twitter.com/elerianm/status/1857165803444965755?ref_src=twsrc%5Etfw">November 14, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also: <a href="https://www.benzinga.com/24/11/41998258/cathie-wood-keeps-betting-on-amazons-haul-play-ark-loads-up-6m-worth-of-shares">Cathie Wood Keeps Betting On Amazon&#8217;s &#8216;Haul&#8217; Play: Ark Loads Up $6M Worth Of Shares</a>
Why It Matters: The Fed chair pointed to increased productivity as a key factor in recent economic performance, noting that productivity growth over the past five years has outpaced the two decades before the pandemic. This strength, Powell suggested, allows for a more measured approach to monetary policy decisions.
The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), which tracks the benchmark S&amp;P 500 index, fell 0.64% as investors recalibrated their rate cut expectations. Technology stocks felt the pressure, with the Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), representing the Nasdaq-100 index, declining 0.69%. Small-cap stocks bore the brunt of the selling, as evidenced by the iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) dropping 1.35%, according to <a href="https://www.benzinga.com/pro/" target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>.
Powell&#8217;s remarks triggered a sharp <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">repricing</a> in rate cut expectations, with the CME FedWatch Tool showing the probability of a December rate reduction falling to 58.9% from nearly 80%. This shift came after Powell emphasized the economy&#8217;s remarkable strength and indicated no urgency to lower rates.
Read Next: 
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<li><a href="https://www.benzinga.com/news/global/24/11/41998381/tesla-earnings-will-be-hit-hardest-if-7500-ev-credit-is-cut-warns-gary-black-citing-80-dependence-on-ev-sales-please-do-the-math">Tesla Earnings Will Be Hit Hardest If $7.5K EV Credit Gets Cut By Trump, Warns Gary Black: &#8216;Do The Math&#8217;</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.

Federal Reserve

ETFs

Mohamed El-Erian Criticizes Fed Chair Powell's Interview Performance: 'He Struggled With Some Of The Smart Questions'

Widely-followed cryptocurrency analyst Willy Woo threw a jibe at economist Peter Schiff for attempting to stay relevant by dunking on Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>).
What Happened: On Thursday, Woo took to X to describe a rather unique perspective on Bitcoin. He said that the leading cryptocurrency was more than just a digital form of money, instead likening it to a &#8220;squatter living rent-free in people&#8217;s minds.&#8221;
&#8220;After a while, there's only 2 paths: you buy it and become rich or you keep hating and turn crazy,&#8221; Woo added.
<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">People think <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> is digital money but they miss the point. Bitcoin a squatter living rent free in people's minds. After a while there's only 2 paths: you buy it and become rich or you keep hating and turn crazy.
&mdash; Willy Woo (@woonomic) <a href="https://twitter.com/woonomic/status/1857029548333728152?ref_src=twsrc%5Etfw">November 14, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also: <a href="https://www.benzinga.com/news/legal/24/11/41996491/18-republican-states-sue-bidens-sec-over-harsh-crypto-crackdown">18 Republican States Sue Biden&#8217;s SEC Over Harsh Crypto Crackdown</a>
Woo&#8217;s remark was in response to Schiff, who sarcastically suggested that the Social Security Trust Fund should sell all of its Treasuries to buy Bitcoin. 
Schiff&#8217;s comment was a tongue-in-cheek critique of Bitcoin&#8217;s volatile nature and the potential economic catastrophe he believed could ensue if the U.S. government were to establish a Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) reserve.
Why It Matters: Schiff&#8217;s views on Bitcoin have been controversial, and many have accused him of doing engagement farming by repeatedly mentioning the coin in his X posts.
His critics <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38781124/peter-schiff-says-he-gets-a-kick-out-of-fanatics-accusing-him-of-secretly-owning-bitcoin-t" target="_blank" rel="noreferrer noopener">believe he secretly owns Bitcoin</a>, in contrast to the overtly critical positions he takes on social media. The economist has consistently denied this claim
Earlier this week, Schiff <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41891221/peter-schiff-says-he-would-have-loaded-up-on-bitcoin-had-he-known-that-the-btc-bubble-would-get-this-big">dismissed Bitcoin&#8217;s bull run</a> as a &#8220;popular delusion&#8221; and &#8220;madness of crowds,&#8221; predicting staggering losses when the bubble finally pops. He has also warned that if the U.S. government began buying Bitcoin, it could trigger a market crash.
Price Action: At the time of writing, Bitcoin was trading at $88,160.96, down 2.36% 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.." target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>. The coin was up over 16% in the last week.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41993524/gary-gensler-hints-at-ending-his-stint-as-sec-chair-defends-crypto-regulation-agenda">Gary Gensler Hints At Ending His Stint As SEC Chair, Defends Crypto Regulation Agenda</a></li>
</ul>

Peter Schiff's Cheeky Bitcoin Turnaround Post Earns Reaction From Popular Analyst: 'You Buy It And Become Rich Or You Keep Hating And Turn Crazy'

4Front Ventures Corp. (CSE:<a class="ticker" href="https://www.benzinga.com/stock/FFNT#CSE">FFNT</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/FFNTF#OTC">FFNTF</a>), a U.S. multi-state <a href="http://benzinga.com/cannabis">cannabis</a> operator, announced its Q3 2024 revenue Thursday of $17.1 million, down from $18.7 million in the <a href="https://www.benzinga.com/markets/cannabis/24/08/40394058/multi-state-marijuana-operator-4front-posts-31-yoy-lower-q2-revenue-sees-net-loss-reduction-rema">previous quarter</a>. The company highlighted substantial gains in Massachusetts and promising developments in Illinois as the Matteson facility ramps up production.
<h4 class="wp-block-heading">Q3 2024 Financial Highlights</h4>
<ul>
<li>Revenue was $17.1 million, a decrease from $23 million in Q3 2023.</li>
<li>Net Loss was $6.4 million, an improvement from a net loss of $62.1 million in Q3 2023.</li>
<li>Adjusted EBITDA was $1 million, compared to an adjusted EBITDA loss of $4.8 million in Q3 2023.</li>
<li>Gross Profit was $3.7 million, down from $9.3 million in Q3 2023.</li>
</ul>
<h3 class="wp-block-heading">Scalable Production, Strategic Expansion Powers Market Growth</h3>
The Matteson facility, nearing full operational capacity, is expected to address <a href="http://benzinga.com/topic/illinois-cannabis">Illinois&#8217;</a> supply constraints, boosting 4Front's market share. CEO Andrew Thut <a href="https://www.prnewswire.com/news-releases/4front-ventures-reports-third-quarter-2024-results-302306042.html">stressed</a> the strong demand. &#8220;Early responses to Matteson&#8217;s production have been highly positive.&#8221; The facility&#8217;s scalability aligns with strategic growth plans, leveraging new supply agreements.
<ul>
<li>Get Benzinga&#8217;s exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter <a href="https://newsletteremail.benzinga.com/subscribe">here</a>. If you&#8217;re serious about the business, you can&#8217;t afford to miss out.</li>
</ul>
<a href="http://benzinga.com/topic/massachusetts-cannabis">Massachusetts</a> saw a 56% quarter-over-quarter growth in wholesale revenue, driven by consistent high-quality production. Meanwhile, in Washington, 4Front returned to record revenues, showcasing its adaptability in competitive markets.
New product launches, including the &#8220;Smoke Breaks&#8221; pre-rolls, expanded the company&#8217;s offerings in Illinois and Massachusetts.
<h3 class="wp-block-heading">4Front's CEO Optimistic Amid Regulatory Uncertainty</h3>
"Despite the uncertainties surrounding federal cannabis reform, we&#8217;re optimistic, especially given signs that we may have unexpected advocates in the incoming administration," said Thut. The company expects its operational momentum to continue into Q4, targeting positive cash flows and expanded market reach.
Read Also: <a href="https://www.benzinga.com/24/11/41915099/cannabis-stocks-pop-following-chris-christies-prediction-on-trumps-policy-shift">Cannabis Stocks Pop Chris Christie's Prediction On Trump</a>
<h3 class="wp-block-heading">Capital Optimization, Product Diversification To Drive Expansion</h3>
4Front has also retained Canaccord Genuity to optimize its capital structure, a move aimed at securing growth capital and enhancing financial performance. With the scaling of the Matteson facility and a focus on diversifying its product lines, the company is heading for sustained operational growth and shareholder value.
FFNTF Price Action FFNTF's shares were trading 11.76% lower at $0.03 per share at the time of market close Thursday.
Read Next:
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<li><a href="https://www.benzinga.com/24/11/41992549/cv-sciences-q3-revenue-stable-amid-new-launches-financing">CV Sciences Q3: Revenue Stable Amid New Launches, Financing</a></li>
</ul>
Image created using artificial intelligence with Midjourney

Cannabis

CSE:FFNT

FFNTF

Cannabis Co. 4Front Sees Loss Narrow In Q3, Major Growth In MA, IL

COVID pick Humanigen files for bankruptcy

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Humanigen (OTCMKTS:<a href="https://investorplace.com/stock-quotes/hgen-stock-quote/">HGEN</a>) stock is falling hard on Friday after the company filed for Chapter 11 bankruptcy protection.



This bankruptcy filing comes after Humanigen <a href="https://www.reuters.com/business/healthcare-pharmaceuticals/covid-19-treatment-developer-humanigen-files-chapter-11-bankruptcy-2024-01-04/">failed to secure regulatory approval</a> for its Covid-19 treatment lenzilumab. The company attempted to get Emergency Use Authorization for the antibody back in 2021 but was rejected by regulators.



With its failure to produce a Covid-19 treatment to market, Humanigen warned midway through last year that strategic options may be required. Now that&rsquo;s the case with the company only having assets worth $521,000 and debt of $44.1 million.



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



A bankruptcy filing means that HGEN stock may not be around for much longer. If the financial troubles for HGEN continue it could be the end for the business and its shares.



Investors seem to agree as many are jumping ship following today&rsquo;s bankruptcy announcement. As of this writing, more than 2 million shares of the stock have changed hands. That&rsquo;s well above the company&rsquo;s daily average trading volume of about 292,000 shares.



HGEN stock is down 84.6% as of Friday morning. The stock has also lost 99.9% of its total value over the last 12 months.



Investors looking for more of the latest stock market stories today are in the right place!



InvestorPlace offers up all of the hottest stock market news that traders need to know about on Friday! A few examples include what&rsquo;s happening with shares of QuantumScape&nbsp;(NYSE:<a href="https://investorplace.com/stock-quotes/qs-stock-quote/">QS</a>), AlloVir&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/alvr-stock-quote/">ALVR</a>) and more. All of that news is ready to go at the links below!



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



<ul><li><a href="https://investorplace.com/2024/01/is-quantumscape-qs-stock-primed-for-a-short-squeeze-pop-in-2024/">Is QuantumScape (QS) Stock Primed for a Short Squeeze Pop in 2024?</a></li>



<li><a href="https://investorplace.com/2024/01/allovir-layoffs-2024-what-to-know-about-the-latest-alvr-job-cuts/">AlloVir Layoffs 2024: What to Know About the Latest ALVR Job Cuts</a></li>



<li><a href="https://investorplace.com/2024/01/why-are-stocks-up-today-30/">Why Are Stocks Up Today?</a></li>
</ul>On the date of publication, William White&nbsp;did not have (either directly or indirectly) any positions in the securities mentioned in this article.&nbsp;The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.



With only the rarest exceptions,&nbsp;InvestorPlace&nbsp;does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That&rsquo;s because these &ldquo;<a href="https://investorplace.com/stock-types/penny-stocks/">penny stocks</a>&rdquo; are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that&#8239;&nbsp;<a href="http://investorplace.com/" target="_blank">InvestorPlace.com</a>&rsquo;s&nbsp;writers disclose this fact and warn readers of the risks.&nbsp;



Read More:&#8239;Penny Stocks &mdash;&nbsp;<a href="https://investorplace.com/2014/05/fraud-penny-stocks-scams/" target="_blank">How to Profit Without Getting Scammed</a>
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	The post <a href="https://investorplace.com/2024/01/hgen-stock-alert-why-humanigen-just-filed-for-ch-11-bankruptcy/">HGEN Stock Alert: Why Humanigen Just Filed for Ch. 11 Bankruptcy</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

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