Billionaire entrepreneur and &#8220;Shark Tank&#8221; host Mark Cuban has offered his services to Elon Musk and Vivek Ramaswamy&#8217;s <a href="https://www.benzinga.com/topic/department-of-government-efficiency">Department of Government Efficiency (DOGE)</a> in a bid to cut federal healthcare costs.



What Happened: On Wednesday, Cuban responded to a user on X, formerly Twitter, who asked if his company, Cost Plus Drugs, could be integrated into government healthcare programs to help cut costs.



In response to the user, Cuban said "Both know how to reach me," referring to Musk and Ramaswamy.



The user's request was about DOGE, an agency led by Musk and Ramaswamy, which aims to drive cost-saving reforms within the federal bureaucracy.



Musk and Ramaswamy, through DOGE, are focused on achieving large-scale reforms within government agencies



See Also: <a href="https://www.benzinga.com/personal-finance/24/11/42193386/mark-cuban-shared-600-a-month-dallas-apartment-with-5-guys-and-slept-on-the-living-room-floor-i-had-nothing-so-i-had-nothing-to-lose">Mark Cuban Shared $600 A Month Dallas Apartment With 5 Guys And Slept On The Living Room Floor</a>



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Both know how to reach me. <a href="https://t.co/Jl9gYpZAYs">https://t.co/Jl9gYpZAYs</a>&mdash; Mark Cuban (@mcuban) <a href="https://twitter.com/mcuban/status/1861524965750661386?ref_src=twsrc%5Etfw">November 26, 2024</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Why It Matters: With healthcare costs continuing to rise, especially prescription drug prices, there is growing interest in alternatives to the traditional pharmaceutical distribution system.



Cuban's pharma company, launched in 2022, was founded to reduce the cost of prescription drugs by <a href="https://www.benzinga.com/news/23/02/30672271/mark-cuban-aims-to-disrupt-a-365-billion-industry-with-the-only-startup-that-bears-his-name">cutting out intermediaries</a> in the pharmaceutical supply chain. 



The company's transparent pricing model provides consumers with generic medications at a much lower cost than traditional methods.



If DOGE partners with Cuban's company, it could potentially bring these cost-saving measures to federal healthcare programs, such as Medicare and Medicaid.



Last year in June, a social media user questioned Cuban why his company, Cost Plus Drugs, doesn't offer Ivermectin, citing a stark price disparity between Africa and the U.S. 



At the time, Musk chimed in saying, "Good question," to which Cuban responded, explaining that his company couldn't secure a competitive price for Ivermectin but offered Hydroxychloroquine as an alternative.



He also <a href="https://www.benzinga.com/news/23/12/36231355/mark-cubans-cost-plus-drugs-gets-medication-elon-musk-asked-about-6-months-ago-still-ready-to-save-t">suggested Musk explore Cost Plus Drugs</a> to save his employees and companies significant money.



Six months later, Cuban updated Musk, announcing that Ivermectin was now available on Cost Plus Drugs, reiterating the potential savings for Tesla Inc., SpaceX, and X employees, and inviting Musk's team to reach out for collaboration.



For anyone hoping to invest in a <a href="https://www.benzinga.com/news/24/01/36836747/mark-cuban-talks-elon-musk-dei-health-care-investments-buying-twitter-and-more-in-an-x-ama">future IPO of Cost Plus Drug Company</a>, Cuban earlier this year stated that it's &#8220;Not going to happen. Maximizing profits is not our goal.&#8221;



According <a href="https://www.fortunebusinessinsights.com/prescription-drugs-market-102709">to</a> Fortune Business Insights, in 2023, the global prescription drug market&#8217;s value reached approximately $1,162.61 billion, with North America contributing a significant share, estimated at $576.35 billion.



The iShares U.S. Healthcare Providers ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IHF#NYSE">IHF</a>) ended Wednesday&#8217;s session up by 0.24% at $54.40. Year-to-date, it has gained 1.8%, according to <a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener">Benzinga Pro data</a>.



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Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.



Photos courtesy: Shutterstock

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Will Mark Cuban Join Rivals Elon Musk, Vivek Ramaswamy's DOGE? 'Shark Tank' Host Says 'Both Know How To Reach Me'

The New York Stock Exchange (NYSE) and the bond market will <a href="https://www.nyse.com/markets/hours-calendars#nyse">be closed</a> on Thursday, Nov. 28 for Thanksgiving. Markets will re-open at 9:30 am ET for regular trading on Black Friday, but the stock market will close early at 1 p.m. ET and the bond market will <a href="https://www.benzinga.com/economics/macro-economic-events/24/11/42224605/10-insights-about-the-us-economy-for-thanksgiving-dinner-talk">lose at 2 p.m. ET</a>.



What To Know: Historically, markets perform well on Black Friday, with the S&amp;P 500 closing higher 69% of the time since 1960, according to data from Macrotrends. Investors looking to invest in the broader market can look to the SPDR S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) which tracks the S&amp;P 500 index.&nbsp;



Read Next: <a href="https://www.benzinga.com/news/retail-sales/24/11/42170721/thanksgiving-dinner-gobbles-up-19-more-cash-this-year-many-holiday-hosts-already-regret-their-decision">Thanksgiving Dinner Gobbles Up 19% More Cash This Year, Many Holiday Hosts &#8216;Already Regret Their Decision&#8217;</a>



The retail sector often outperforms the broader market around Black Friday. Investors can focus on retail sector ETFs like the SPDR S&amp;P Retail ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XRT#NYSE">XRT</a>) or individual retailer's stocks like Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) or Walmart, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>) to capture the momentum created by one of the busiest shopping days of the year.&nbsp;



Upcoming Market Holidays:&nbsp;



<ul>
<li>Nov. 28, 2024 &#8211; Thanksgiving Day, markets closed.&nbsp;&nbsp;</li>



<li>Nov. 29, 2024 &#8211; Black Friday, stock market closes at 1 p.m. ET, bond market closes at 2 p.m. ET.&nbsp;</li>



<li>Dec. 24, 2024 &#8211; Christmas Eve, stock market closes at 1 p.m. ET, bond market closes at 2 p.m. ET.</li>



<li>Dec. 25, 2024 &#8211; Christmas Day, markets closed.&nbsp;</li>



<li>Dec. 31, 2024 &#8211; New Year's Eve,&nbsp; stock market regular hours, bond market closes at 2 p.m. ET.</li>



<li>Jan. 1, 2025 &#8211; New Year's Day, markets closed.&nbsp;</li>
</ul>



Read More: <a href="https://www.benzinga.com/news/retail-sales/24/11/42225933/black-friday-cyber-monday-shopping-set-to-break-sales-records">Black Friday, Cyber Monday Shopping Set To Break Sales Records</a>



Image: Reto Keller from Pixabay

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Is The Stock Market Open On Thanksgiving?

JPMorgan Chase (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) CEO <a href="https://www.benzinga.com/general/politics/24/10/41192406/jamie-dimon-rejects-trump-endorsement-claim-casting-doubt-on-treasury-rumors">Jamie Dimon</a> is optimistic about President-elect Donald Trump's plans to cut back on regulations and he says <a href="https://www.benzinga.com/24/11/42029764/global-banks-jp-morgan-goldman-sachs-add-to-bitcoin-ethere-etf-positions-in-q3-morgan-stanley-increases-microstrategy-stake-to-16b">Wall Street bankers</a> are thrilled. In a recent talk during the APEC CEO Summit in Peru, Dimon said that the industry is <a href="https://www.benzinga.com/content/42151857/top-3-financial-stocks-set-to-gain-from-looser-regulations">hopeful that Trump's win will result in less red tape</a>, allowing banks to do more of what they do best: lend money.



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"A lot of bankers, they're like dancing in the street because they've had successive years and years of regulations, a lot of which stymied credit," Dimon said. His point is that all the rules implemented over the past years have made it harder for banks to lend money, impacting businesses and the overall economy.



<h2 class="wp-block-heading">Regulations That Hold Banks Back</h2>



Dimon explained that banks in the U.S. used to lend out $100 for every $100 in deposits they held. But now, with all the restrictions, they only lend about $65 for every $100 in deposits. He feels that tougher laws have made it difficult for banks to perform their functions and that reducing these rules could help.



"If that's what you want, if for some reason the regulators think they're geniuses and that's the best way to run the banking system, so be it," Dimon said. He also pointed out that regulators likely didn't anticipate the negative effect that their rules would have on credit and lending.



See Also: The global games market is projected to generate $272B by the end of the year —<a href="https://www.benzinga.com/money/gameflip"> for $0.55/share, this VC-backed startup with a 7M+ userbase gives investors easy access to this asset market.</a>



<h2 class="wp-block-heading">Why Banking Regulations Are Important</h2>



Banking regulations were put in place primarily to ensure the stability and safety of the financial system, protect consumers and prevent reckless behavior that could lead to economic crises. After the 2008 financial crisis, regulations were tightened to reduce the risks banks could take with their lending and investment practices. These rules are crucial in maintaining trust in the banking sector, preventing <a href="https://www.benzinga.com/personal-finance/24/11/41949050/bill-gates-warned-the-u-s-will-experience-another-2008-style-financial-crisis-he-cant-predict-when-but-says-this-is-a-certainty">another financial meltdown</a> and ensuring that banks operate responsibly without jeopardizing the broader economy.



Trending: Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing —<a href="https://www.benzinga.com/money/boxabl"> you can become an investor for $0.80 per share today.</a>



<h2 class="wp-block-heading">Hope for Change</h2>



Dimon applauded Trump's intentions to streamline government and reduce the regulatory burden, highlighting that the right changes could help bankers and many industries. "You could talk to any industry and they'll give you examples of regulations that could be reduced to make it easier for them to do business while keeping the country safe," Dimon added.



Trump has already started putting together a team to tackle these issues. He recently announced that Tesla CEO Elon Musk and pharma entrepreneur Vivek Ramaswamy would lead the Department of Government Efficiency (DOGE), a new task force focused on <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42035165/coinbase-ceo-brian-armstrong-says-doge-department-is-a-once-in-a-lifetime-opprtunity-advocates-abolishing-individual-income-tax">cutting down excessive regulations</a>. The goal is to reduce wasteful government spending and restructure federal agencies.



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Jamie Dimon Says Trump's Plans To Loosen Regulations Have Bankers 'Dancing In The Street'

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