Molecular Templates Azioni (NASDAQ: MTEM)

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Molecular Templates

Molecular Templates Inc is a clinical-stage biopharmaceutical company focused on developing therapeutic agents that selectively target tumor cells for the treatment of individuals living with cancer. Its pipeline products are MT-6402, MT-8421 and MT-0169.

Molecular Templates Inc

U.S. markets ended Thursday with mixed performance: the Dow Jones Industrial Average climbed 0.4% to 43,239.05, the S&amp;P 500 held steady at 5,841.47, and the Nasdaq inched up by 0.04% to close at 18,373.61.
 These are the top stocks that gained the attention of retail traders and investors throughout the day:
Netflix Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>)
Netflix shares fell by 2.04% to close at $687.65. The streaming giant reported <a href="https://www.benzinga.com/news/earnings/24/10/41391637/netflix-q3-earnings-revenue-beats-eps-tops-q4-guidance-projects-subscriber-boost-from-squid-game-nf">third-quarter revenue</a> of $9.825 billion, a 15% increase year-over-year, beating the Street consensus estimate. The streamer added 5.07 million paid subscribers, bringing its total to 282.72 million. Earnings per share also exceeded estimates, while ad-supported plans represented over 50% of new sign-ups. The company is projecting further revenue growth and strong content releases in the fourth quarter.
Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>)
TSMC shares soared by 9.79% to close at $205.84. The company reported consolidated third-quarter revenue of NT$759.69 billion ($23.50 billion), up 39% year-over-year, beating consensus estimates. The <a href="https://www.benzinga.com/news/earnings/24/10/41373163/nvidia-supplier-tsmc-reports-q3-revenue-earnings-beat-amid-rising-demand-for-ai-chips">strong demand for advanced processor node technologies</a> used in AI applications contributed to the impressive results.
American Express Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXP#NYSE">AXP</a>)
See Also: <a href="https://www.benzinga.com/news/24/10/41354045/as-boeing-workers-enter-second-month-of-strike-rival-airbus-reportedly-plans-to-cut-2-500-jobs?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">As Boeing Workers Enter Second Month Of Strike, Rival Airbus Reportedly Plans To Cut 2,500 Jobs</a>
American Express shares rose by 1.46% to close at $285.78. The company is set to report its third-quarter earnings on Oct. 18, with Wall Street expecting $3.80 in earnings per share and $16.67 billion in revenues. The <a href="https://www.benzinga.com/news/earnings/24/10/41382894/american-express-shows-bullish-signals-ahead-of-q3-earnings-but-analysts-hold-back">stock is up 84.29% over the past year</a>, and 51.1% year-to-date.
Moderna Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRNA#NASDAQ">MRNA</a>)
Moderna shares dropped by 4.59% to close at $54.82. The company is facing a patent infringement lawsuit from Northwestern University, alleging that Moderna used the university's lipid nanoparticle (LNP) technology without permission to develop its COVID-19 vaccines. The lawsuit claims that the development of Moderna's COVID-19 vaccine, Spikevax, <a href="https://www.benzinga.com/general/biotech/24/10/41381861/moderna-hit-with-another-lawsuit-related-to-key-covid-19-vaccine-technology">depended on key technological advancements</a> made at Northwestern.
Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)
Tesla shares slipped by 0.20% to close at $220.89. The company has promoted several executives, including Wes Morrill, Milan Kovac, and Ashok Elluswamy, over the past few weeks. Omead Afshar is <a href="https://www.benzinga.com/news/24/10/41378568/tesla-promotes-key-executives-and-gives-them-more-responsibilities-in-leadership-shuffle">now a vice president</a> in charge of sales and manufacturing, with senior executives in North America and Europe reporting to him.
Image Via Shutterstock
Prepare for the day&#8217;s trading <a href=""Premarket">with top premarket movers and news</a> by Benzinga.
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

Equities

News

Markets

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TSLA

Netflix, TSMC, American Express, Moderna, And Tesla: Why These 5 Stocks Are On Investors' Radars Today

In its third-quarter earnings call on Thursday, Netflix Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) executives shed light on their calculated approach to live sports programming, acknowledging that while their upcoming slate of live events—including the Jake Paul&#8211;Mike Tyson fight and NFL Christmas Day game—might seem minimal against their staggering 200 billion annual streaming hours, the strategy focuses on <a href="https://www.benzinga.com/news/earnings/24/10/41391637/netflix-q3-earnings-revenue-beats-eps-tops-q4-guidance-projects-subscriber-boost-from-squid-game-nf">high-impact moments rather than volume</a>.
What Happened:&nbsp;&#8220;We have about 200 billion hour every year on Netflix. Very few of them are actually live, but they all promise to be extremely high value,&#8221; said Ted Sarandos, Netflix&#8217;s Co-CEO, during the company&#8217;s earnings call. &#8220;Thankfully, all hours are not created equal.&#8221;
The streaming giant&#8217;s selective entry into live programming marks a significant shift from its traditional on-demand model, though executives stress this isn&#8217;t about competing with traditional sports broadcasters. Instead, Netflix aims to capture &#8220;the excitement that comes when the whole world gets together to watch something,&#8221; according to Sarandos.
The company&#8217;s live programming strategy includes:
<ul>
<li>The highly anticipated Jake Paul vs. Mike Tyson boxing match</li>
<li>NFL football on Christmas Day</li>
<li>Weekly WWE programming starting January 2025</li>
<li>Live comedy specials, including a new John Mulaney show</li>
</ul>
Despite these high-profile additions, Netflix maintains its core focus on scripted and unscripted content, which drives the vast majority of its viewing hours. The platform reports approximately two hours of viewing per member per day, with engagement per household increasing through the first three quarters of 2024.
Greg Peters, Co-CEO, emphasized the strategic value of live events in the broader content mix. &#8220;Those should be exciting things,&#8221; Peters noted, positioning live programming alongside games and traditional content as part of Netflix&#8217;s expanding entertainment offering.
See Also: <a href="https://www.benzinga.com/news/24/10/41394784/amazon-aws-ceo-stands-firm-on-5-day-office-policy-opponents-can-head-for-the-exit-door-there-are-oth">Amazon AWS CEO Stands Firm On 5-Day Office Policy — Opponents Can Head For The Exit Door: &#8216;There Are Other Companies Around&#8217;</a>
Why It Matters: The approach reflects a broader industry trend of streaming services selectively entering the live sports market, though Netflix&#8217;s strategy appears more measured than competitors like Amazon.com Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) Prime Video and Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) TV+, which have made substantial <a href="https://www.benzinga.com/news/earnings/24/10/41391637/netflix-q3-earnings-revenue-beats-eps-tops-q4-guidance-projects-subscriber-boost-from-squid-game-nf">investments in regular season sports rights</a>.
Netflix&#8217;s current engagement metrics suggest the company&#8217;s selective approach to live programming may be working. With subscriber engagement remaining strong and revenue growth projected at 11-13% for 2025, the company appears confident in its strategy of prioritizing high-impact live events over volume.
&#8220;The contributor to growing engagement is going to be across the board on our scripted and unscripted or documentary programming,&#8221; Sarandos explained, suggesting live programming will complement rather than drive the company&#8217;s core content strategy.
As Netflix projects <a href="https://www.benzinga.com/news/earnings/24/10/41391637/netflix-q3-earnings-revenue-beats-eps-tops-q4-guidance-projects-subscriber-boost-from-squid-game-nf">revenue of $43-44 billion for 2025</a>, its approach to live programming offers a glimpse into how the streaming giant plans to maintain growth while selectively expanding into new content territories. 
Price Action: Netflix Inc. closed at $687.65 on Thursday, down 2.04%. In after-hours trading, the stock rose by 5.03%. Year to date, Netflix has surged 46.78%, according to <a href="https://www.benzinga.com/pro/">data from Benzinga Pro</a>.
Read Next: 
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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41392474/google-deal-for-default-search-on-apple-iphones-very-likely-to-be-banned-jefferies-">Google Deal For Default Search On Apple iPhones &#8216;Very Likely&#8217; To Be Banned, Jefferies Says</a></li>
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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.

Entertainment

AAPL

AMZN

Netflix's 200B Hour Problem: Why Live Sports Are Just A Drop In the Streaming Ocean

The Republican presidential candidate Donald Trump said that he talked with Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) CEO Tim Cook about the financial penalties the EU has imposed on the company.
What Happened: In a conversation with Patrick Bet-David, released on Thursday, Trump said that Cook had reached out to him earlier that day.
&#8220;He (Cook) called me two, three hours ago,&#8221; the former President said. He quoted Cook saying, &#8220;The&nbsp;EU has just fined&nbsp;us $15 billion &#8230; Then&nbsp;on top of that, they&nbsp;got fined by the EU another $2 billion.&#8221;
Trump said he knows what Cook must feel because he gets &#8220;fined too on fake cases.&#8221;
See Also:&nbsp;<a href="https://www.benzinga.com/24/10/41322912/apple-to-launch-new-macbooks-pro-ipad-minis-and-imacs-analyst-says-inventory-dwindling-for-these-giz?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Apple To Launch New MacBooks Pro, iPad Minis and iMacs? Analyst Says Inventory Dwindling For These Gizmos</a>
The Republican nominee said that the Apple CEO told him that the EU is going to use this money to &#8220;run their enterprise,&#8221; he told Cook, &#8220;Tim, I got to get&nbsp;elected first. But I&#8217;m&nbsp;not going to let them&nbsp;take advantage of our companies.&nbsp;That won&#8217;t be happening.&#8221;
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
<div class="wp-block-embed__wrapper">
<iframe loading="lazy" title=""Our Country Has Been Poisoned" - Donald Trump On Putin, Obama, Tariffs &amp; Iran &#x7C; PBD Podcast &#x7C; 489" width="500" height="281" src="https://www.youtube.com/embed/-dmwG54QsKc?start=2771&#038;feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div>
</figure>
Apple did not immediately respond to <a href="https://pro.benzinga.com/dashboard">Benzinga&#8217;s</a> request for comments.
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: Apple has been under the EU&#8217;s radar, losing a court case last month that <a href="https://www.benzinga.com/news/24/09/40787706/apple-alphabets-google-forced-to-cough-up-multi-billion-dollars-in-fines-as-top-eu-court-rules-again">led to a&nbsp;$14.4 billion back tax</a> payment to Ireland.
Earlier this year, Apple was slapped with a $2 billion EU antitrust fine for suppressing competition from music-streaming rivals through restrictions on its App Store.
Previously, Trump also said that Meta Platforms CEO Mark Zuckerberg is supporting him in the upcoming election. Quoting Zuckerberg, the former President said, &#8220;I've never supported a Republican before, but there's no way I can vote for a Democrat in this election.&#8221;
However, his <a href="https://www.benzinga.com/news/24/09/40785288/did-mark-zuckerberg-really-say-no-way-i-can-vote-for-a-democrat-in-this-election-to-trump">statements were refuted by Meta</a>, who said, &#8220;As Mark has said publicly, he's not endorsing anybody in this race and has not communicated to anybody how he intends to vote.&#8221;
The former President is getting <a href="https://www.benzinga.com/news/24/10/41356810/elon-musk-donates-75m-to-support-donald-trumps-presidential-campaign">massive public support</a> from Tesla and SpaceX CEO Elon Musk.
As the election nears, Trump&#8217;s <a href="https://www.benzinga.com/news/24/10/41381064/trump-vs-harris-vice-president-hangs-onto-slender-lead-but-ex-president-improves-his-position-as-bet">position in the race has&nbsp;improved</a>, with Vice President Kamala Harris holding a slim lead.
Check out more of Benzinga&#8217;s Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Image via Shutterstock
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Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Politics

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Tim Cook Called To Complain About Billions In EU Fines Imposed On Apple, Says Trump: 'I'm Not Going To Let Them Take Advantage Of Our Companies'

The cryptocurrency platform backed by Donald Trump, World Liberty Financial (WLFI), would allocate 75% of its protocol revenues to a firm associated with the former President.
What Happened: According to the World Liberty Gold <a href="https://static.worldlibertyfinancial.com/docs/us/gold-paper.pdf">Paper</a>, WLFI, heavily promoted by Trump in recent months, might channel nearly three-fourths of its revenues to DT Marks DEFI, LLC.
The Gold Paper said that the entity used &#8220;reasonable efforts&#8221; to request the owners and principals, including Trump, to promote the WLF project from time to time, and permitted WLF to utilize the former President&#8217;s name, image, and likeness.
For these services and rights, the WLF team decided to allocate 75% of the revenue to the entity. Additionally, 22.5 billion of the platform&#8217;s governance token, WLFI, or 22.4% of the total supply, would be reserved for DT Marks DEFI, LLC,
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41389439/this-trader-netted-over-5m-with-4-different-meme-coins-heres-how">This Trader Netted Over $5M With 4 Different Meme Coins: Here&#8217;s How</a>
The net protocol revenues include all income streams for WLF, such as platform usage fees, token sale earnings, and advertising, after deducting agreed expenses and reserves for ongoing operations.
The Gold Paper recognized Trump as &#8220;chief crypto advocate,&#8221; and part of the supporting team, but issued a disclaimer that neither Trump nor any of his family members and associated companies have a direct voice in WLFI&#8217;s operations.
The Trump campaign team and the WLFI team didn&#8217;t immediately respond to Benzinga&#8217;s request for additional information about DT Marks DEFI, LLC.
Why It Matters: The WLFI token, launched with much fanfare earlier this week, has been off to a sluggish start, raising just <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41373332/donald-trump-backed-world-liberty-financial-off-to-a-slow-start-raises-just-4-of-the-token">over 4% of its intended token presale amount</a>. 
Part of the poor response could be because the token is non-transferable and non-yielding, and locked indefinitely in a wallet.
Influential cryptocurrency advocates such as Mark Cuban questioned the motives behind the token sale, with Cuban wondering why Trump would venture into cryptocurrency when he has support from influential figures like Elon Musk.
Image via Flickr
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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>

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Cryptocurrency

Trump-Affiliated Entity Will Get 75% Of World Liberty Financial's Revenue and 22% OF WLFI Token Supply — Assumes Zero Liability

With cutting-edge technology and a consumer-centric approach, Jane Technologies, led by CEO and co-founder Socrates Rosenfeld, is transforming how consumers buy cannabis, making the process as intuitive as choosing music on Spotify.
Rosenfeld's team at Jane Technologies is developing tools that not only personalize the cannabis shopping experience but also integrate seamlessly with retail infrastructure. In an exclusive interview with Benzinga Cannabis, Rosenfeld shares insights into their approach, how they are revolutionizing cannabis retail, and what lies ahead.
<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&nbsp;<a href="https://newsletteremail.benzinga.com/subscribe" target="_blank" rel="noreferrer noopener">here</a>. You can't afford to miss out if you&#8217;re serious about the business.</li>
</ul>
<h3 class="wp-block-heading">From E-Commerce To Integrated Ecosystems: Cannabis Shopping Into Spotify </h3>
<a href="https://www.iheartjane.com/">Jane Technologies</a> began as an e-commerce provider, focusing on data integration and scalability. &#8220;We started really as an e-commerce provider for a long time and focused on that because there was a lot of work to do and to establish a good foundation across data integrations,&#8221; Rosenfeld explained. With patents protecting their innovative software, Jane Technologies has become a leading e-commerce solution provider in the cannabis industry.
However, the cannabis retail market is limited, with fewer retailers compared to other industries. To continue growing, the company expanded vertically, venturing into adjacent areas. &#8220;We introduced a very large ads business and infrastructure,&#8221; Rosenfeld said, detailing their expansion into point-of-sale (POS) systems, self-service kiosks and consumer rewards programs like Jane Gold.
<h3 class="wp-block-heading">A Spotify-Like Experience&nbsp;</h3>
One of Jane Technologies&#8217; most revolutionary developments is the personalization of the cannabis shopping experience. Drawing comparisons to Netflix (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) and Spotify (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>), Rosenfeld explains how machine learning algorithms are used to recommend products to customers based on their preferences. &#8220;Your Netflix is personalized, your YouTube's personalized, your Amazon is personalized. Cannabis should be no different.&#8221;
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="683" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/17173844/Socrates-Rosenfeld-head-shot-3-1024x683.jpg" alt="" class="wp-image-601699" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/17173844/Socrates-Rosenfeld-head-shot-3-1024x683.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/17173844/Socrates-Rosenfeld-head-shot-3-300x200.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/17173844/Socrates-Rosenfeld-head-shot-3-768x512.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/17173844/Socrates-Rosenfeld-head-shot-3-1536x1024.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/17173844/Socrates-Rosenfeld-head-shot-3.jpg 1620w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Socrates Rosenfeld &#8211; Courtesy of Jane Technologies. </figcaption></figure>
Much like how Spotify curates playlists based on user preferences, Jane Technologies' platform creates customized cannabis menus for each consumer.&nbsp;
This personalized approach ensures that the right products are recommended at the right time, optimizing the shopping experience. &#8220;If you consume a strain and I consume the same product, we're going to feel differently based on our endocannabinoid systems. That&#8217;s why personalization is key.&#8221;
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/10/41382006/hemp-thrives-in-texas-shops-near-schools-why-this-company-bet-on-the-countrys-most-regulated-can">Hemp Thrives In Texas Shops Near Schools: Why This Company Bet On The Country&#8217;s Most Regulated Cannabis Market</a>
<h3 class="wp-block-heading">Jane Gold: A Win-Win-Win Approach</h3>
One of Jane Technologies' standout innovations is Jane Gold, a consumer rewards program that bridges the gap between brands, retailers and consumers. Historically, brands offering discounts had little insight into who their customers were. With Jane Gold, that changes.
&#8220;Wyld [a top edibles brand], for example, can now directly interact with customers through the Jane platform, rewarding them with discounts while building a direct relationship,&#8221; Rosenfeld explained.:
This system benefits everyone involved. Consumers enjoy discounts on their favorite products, retailers attract more foot traffic and brands gain valuable consumer data, enabling them to target their marketing efforts more effectively. 
&#8220;It's a win-win-win. The customer wins, the store wins, and the brand wins,&#8221; Rosenfeld told Benzinga.
<h3 class="wp-block-heading">POS And Kiosks: Enhancing The Retail Experience</h3>
Jane Technologies&#8217; POS solutions integrate seamlessly into the cannabis retail environment, creating a more efficient and personalized shopping experience. &#8220;We've been cataloging every single SKU in every single state market at every dispensary we power. This allows us to cleanse and standardize product data across different retailers,&#8221; he said.
By linking the POS system with its extensive data catalog, Jane Technologies enables retailers to offer personalized recommendations to in-store customers. &#8220;When you walk into a store, we know who you are, and we can push that information to the budtenders. They can see which products you've liked in the past and recommend similar ones.&#8221;
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="754" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/17173942/Jane_Technologies_POS-1-1024x754.jpg" alt="" class="wp-image-601703" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/17173942/Jane_Technologies_POS-1-1024x754.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/17173942/Jane_Technologies_POS-1-300x221.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/17173942/Jane_Technologies_POS-1-768x566.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/17173942/Jane_Technologies_POS-1.jpg 1466w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">The Jane POS connects the online and in-store cannabis experience.</figcaption></figure>
Their self-service kiosks further streamline the in-store experience, allowing customers to place orders without interacting with a budtender. &#8220;If you don't want to talk to a budtender and there's a long line, you can use the kiosk to get the same curated experience as you would online.&#8221;
Read Also: <a href="https://www.benzinga.com/news/24/09/40941818/how-this-cheese-aging-tech-is-boosting-profits-for-cannabis-growers-stop-throwing-cheddar-out-the-do">How This Cheese-Aging Tech Is Boosting Profits For Cannabis Growers: Stop Throwing Cheddar Out The Door</a>
<h3 class="wp-block-heading">Future Growth Strategy</h3>
&#8220;We don&#8217;t need to subsidize our growth through outside investment. We're growing based on our ability to generate revenue and profit,&#8221; he explained.
Their focus on reinvesting profits into the business allows them to remain independent and sustainable while continuing to innovate and expand into new markets. &#8220;We're not playing the same game as other companies. We're playing our music,&#8221; Rosenfeld said.
Read Next:<a href="https://www.benzinga.com/general/biotech/23/08/33579692/cannabis-robots-meet-the-company-boosting-efficiency-and-margins-through-packaging-automation"> Cannabis Robots: Meet The Company Boosting Efficiency And Margins Through Packaging Automation</a>

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This Tech Company Is Turning Cannabis Shopping Into Spotify - Are Retailers Ready?

Amazon.com Inc&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) AWS unit CEO, Matt Garman, has staunchly defended the company&#8217;s contentious new five-day in-office policy, suggesting that those who oppose it may consider other employment options.
What Happened: According to a Reuters report on Thursday, Garman communicated this during an all-hands meeting for AWS. He stated that the majority of workers he interacted with are in favor of the return-to-office policy, set to take effect in January. 
&#8220;If there are people who just don&#8217;t work well in that environment and don&#8217;t want to, that&#8217;s okay, there are other companies around,&#8221; Garman expressed.
A significant number of Amazon&#8217;s employees have voiced their dissatisfaction with the policy, arguing that it unnecessarily extends commuting time and that the advantages of office work are not backed by independent data. Previously, Amazon had a three-day in-office policy. However, last month, CEO Andy Jassy announced the shift to a five-day policy to &#8220;invent, collaborate and be connected.&#8221;
Garman maintained that the company&#8217;s objectives were hard to accomplish if employees showed up only for three days at the office. He also implied that adhering to the company&#8217;s leadership principles was a challenge under the current policy.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41308908/man-who-accidentally-threw-hard-drive-containing-8-000-bitcoins-worth-half-a-billion-dolla?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Man Who Accidentally Threw Hard Drive Containing 8,000 Bitcoins Worth Half A Billion Dollars In Landfill Sues Local City Council For Not Excavating The Site</a>
Why It Matters: This move follows a series of events where Amazon&#8217;s return-to-office policy has been in the spotlight. In September, Amazon announced the <a href="https://www.benzinga.com/news/large-cap/24/09/40930357/amazon-ends-remote-work-former-employee-asks-if-this-is-the-companys-version-of-silent-sacking">end of its work-from-home regime</a>. This decision drew significant attention, with some former employees questioning the company&#8217;s motives.
Shortly after, a survey revealed that 73% of Amazon employees were <a href="https://www.benzinga.com/markets/equities/24/09/41086177/amazon-ceo-andy-jassy-faces-employee-revolt-over-full-time-return-to-office-mandate-73-consider-">considering quitting</a> due to the new in-office work policy.
This discontent among employees contrasts with companies like Spotify Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>), which continues to <a href="https://www.benzinga.com/24/10/41267394/amazon-style-return-to-office-policy-doesnt-await-spotify-employees-cant-spend-a-lot-of-time-hiring">support a work-from-anywhere policy</a>.
Spotify&#8217;s chief human resources officer, Katarina Berg, said this month, &#8220;You can't spend a lot of time hiring grown-ups and then treat them like children.&#8221;
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/24/10/41309072/apple-poured-1b-a-year-into-its-car-project-before-abandoning-it-tim-cooks-company-now-pulls-plug-on?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Apple Poured $1B A Year Into Its Car Project Before Abandoning It. Tim Cook&#8217;s Company Now Pulls Plug On Autonomous Vehicle Testing Permit In California: Here&#8217;s More</a></li>
</ul>
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

General

Amazon AWS CEO Stands Firm On 5-Day Office Policy — Opponents Can Head For The Exit Door: 'There Are Other Companies Around'

Kamala Harris has pledged to remove unnecessary degree requirements for federal jobs and has urged the private sector to follow suit.
What Happened: On Thursday, Harris, the current Vice President and Democratic presidential nominee, reiterated her commitment to eliminating degree prerequisites for certain federal jobs. This was expressed in a post on X where she stated, &#8220;A college degree is not the only measure of the skills and experience of a qualified worker.&#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">A college degree is not the only measure of the skills and experience of a qualified worker. As president, I will get rid of unnecessary degree requirements for federal jobs—and I will challenge the private sector to do the same.
&mdash; Kamala Harris (@KamalaHarris) <a href="https://twitter.com/KamalaHarris/status/1847071094668218605?ref_src=twsrc%5Etfw">October 18, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
This commitment was also made public <a href="https://www.benzinga.com/news/24/09/40864586/kamala-harris-vows-to-scrap-unnecessary-degree-requirements-for-some-federal-jobs-if-she-wins-as-pre">during a speech</a> in Wilkes-Barre, Pennsylvania, as reported by Benzinga in September.
See Also: <a href="https://www.benzinga.com/news/24/10/41371860/kamala-harris-pulls-a-reverse-card-puts-trump-at-fault-for-border-crisis-in-fox-news-interview-lets?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Kamala Harris Pulls A Reverse Card, Puts Trump At Fault For Border Crisis In Fox News Interview: &#8216;Let&#8217;s Just Get To The Point, Ok?&#8217;</a>
Why It Matters: This pledge comes at a time when Harris is <a href="https://www.benzinga.com/news/24/10/41381064/trump-vs-harris-vice-president-hangs-onto-slender-lead-but-ex-president-improves-his-position-as-bet">leading the race</a> against her Republican rival, former President Donald Trump, albeit by a narrow margin. According to a recent Reuters/Ipsos poll, Harris holds a 45% to 42% vote margin over Trump.
However, a <a href="https://www.benzinga.com/general/politics/24/10/41347642/harris-vs-trump-vice-president-holds-lead-in-2024-election-poll-but-former-president-is-closing-">Morning Consult poll</a> of likely voters shows Harris&#8217; lead dropping from a record high of six points last week. This pledge could be a strategic move to win over more voters in the closely contested race.
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Image via Shutterstock
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

Kamala Harris Repeats Promise To Get Rid Of 'Unnecessary Degree Requirements' — 'I Will Challenge The Private Sector To Do The Same'

Can a cannabis brand go from a garage startup to an acquisition by a multi-state operator in a few years? LEVIA did exactly that. What began as an experiment in cannabis tinctures, brewed above a Massachusetts garage, quickly became one of the state&#8217;s top-selling cannabis beverage brands—selling out before their products even hit the shelves.
For cannabis investors, the LEVIA story isn't just a tale of entrepreneurial grit; it's a roadmap to success in a rapidly growing sector. By focusing on a unique, effects-based product and seizing an untapped opportunity in the market, founders Kristin and Eric Rogers scaled their startup into a high-demand brand that caught the attention of AYR Wellness.
<ul>
<li>Get Benzinga's exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter&nbsp;<a href="https://newsletteremail.benzinga.com/subscribe" target="_blank" rel="noreferrer noopener">here</a>. You can&#8217;t afford to miss out if you're serious about the business.</li>
</ul>
<h2 class="wp-block-heading">Can Cannabis Be More Than Smoking?</h2>
Before <a href="https://levia.buzz/products/cannabis-infused-seltzer/">LEVIA</a> was a household name in the Massachusetts cannabis scene, it was a small venture operating out of the Rogers&#8217; garage. Kristin, a substance abuse therapist and Eric, a brand marketer, both saw the potential for cannabis to change lives, particularly as an alternative to harmful substances like alcohol and opioids. 
Their journey began with a simple question: How do we create a cannabis product that doesn't require smoking?
&#8220;My husband started making tinctures using medicinal cannabis, and we realized very quickly this was a thing,&#8221; Kristin said. &#8220;We also picked strains. Eric found medicinal strains that were very specific on what their purpose was.&#8221;
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="680" height="1024" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/17164644/KRogers-Headshot-3.15.24-680x1024.jpg" alt="" class="wp-image-601646" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/17164644/KRogers-Headshot-3.15.24-680x1024.jpg 680w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/17164644/KRogers-Headshot-3.15.24-199x300.jpg 199w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/17164644/KRogers-Headshot-3.15.24.jpg 717w" sizes="(max-width: 680px) 100vw, 680px" /><figcaption class="wp-element-caption">Kristin Rogers &#8211; LEVIA&#8217;s co-founder. </figcaption></figure>
Their mission was clear: to create consistent, reliable cannabis products that mirrored the predictability of alcohol consumption. LEVIA's first tinctures were alcohol-based, but, they wanted to move away from alcohol-based products.
&#8220;We wanted to help people use cannabis without having to smoke it, and at the same time, we wanted to provide something that could compete with alcohol,&#8221; Kristin told Benzinga. &#8220;The idea was to create a product where you know how you're going to feel, just like when you drink a glass of wine.&#8221;
<h3 class="wp-block-heading">Enter The Beverage Market: Scaling The Dream</h3>
As LEVIA grew, so did the need for a larger, more sophisticated operation. They raised money &#8220;on hopes and dreams&#8221; and managed to retrofit a brewery in Georgetown, <a href="https://www.benzinga.com/topic/massachusetts-cannabis">Massachusetts</a> where they could produce their products on a much larger scale.
Their hard work paid off. LEVIA&#8217;s cannabis seltzers, known for their fast onset, zero calories and zero sugar, quickly captured the attention of consumers. The brand introduced three signature lines—Achieve, Celebrate and Dream—each tailored to specific consumer needs. &#8220;We realized early on that no one was doing effects-based drinks,&#8221; Kristin says. 
Read Also:<a href="https://www.benzinga.com/markets/cannabis/24/09/40886620/how-this-former-dea-consultant-is-making-craft-cannabis-profitable-in-new-jersey-a-dirt-y-little"> How This Former DEA Consultant Is Making Craft Cannabis Profitable In New Jersey: A &#8216;Dirt-y&#8217; Little Secret</a>
<h3 class="wp-block-heading">Building A Brand: Crafting The Perfect Lineup</h3>
When it came time to brand their products, Kristin and Eric honed in on a clean, apothecary-style look, something that conveyed quality and care. But the branding was only one piece of the puzzle. LEVIA's real breakthrough came in narrowing its product line to three drinks. The rationale? Simplicity, clarity and <a href="https://www.benzinga.com/topic/cannabis-marketing">targeting a broad range of consumer needs. </a>
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="884" height="1024" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/17164811/ice3.jpg" alt="" class="wp-image-601649" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/17164811/ice3.jpg 884w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/17164811/ice3-259x300.jpg 259w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/17164811/ice3-768x890.jpg 768w" sizes="(max-width: 884px) 100vw, 884px" /><figcaption class="wp-element-caption">Courtesy of LEVIA</figcaption></figure>
"We started by picking specific strains but quickly realized we couldn't guarantee the same strain every time. So we focused on what most people want to feel." Kristin said.
<h3 class="wp-block-heading">Clean Extraction: LEVIA's Full-Spectrum Advantage</h3>
LEVIA's success is rooted in its full-spectrum products, which contain all the naturally occurring compounds from the cannabis plant—<a href="https://www.benzinga.com/general/biotech/23/10/35300227/from-cbn-cbg-to-thcv-consumer-centric-brands-embrace-rare-cannabinoids-for-differentiation">THC, CBD, CBG and terpenes</a>—creating an enhanced &#8220;entourage effect&#8221; for a more balanced experience.
Using CO2 extraction, one of the cleanest methods, LEVIA ensures its products are potent and pure. This process preserves the plant's natural compounds without leaving harmful solvents. As Kristin puts it, "We're chasing the closest thing we can get to smoking, but without the smoke."
<h2 class="wp-block-heading">It's A Match!&nbsp;</h2>
Within just six months of launching, LEVIA's success was undeniable. The brand's beverages were selling out before they even hit the shelves. This rapid growth caught the attention of larger players in the cannabis space, including multi-state operator AYR Wellness (OTC:<a class="ticker" href="https://www.benzinga.com/stock/AYRWF#OTC">AYRWF</a>).&nbsp;
&#8220;We were ranked first or second nationally, even though we were only in <a href="https://www.benzinga.com/topic/massachusetts-cannabis">Massachusetts</a>,&#8221; Kristin said. &#8220;AYR had the largest footprint of the companies that approached us, and we saw it as an opportunity to scale.&#8221;
Since the acquisition, Kristin has remained with the company, learning from the broader operations at AYR. &#8220;I've learned so much about different parts of the business that I wouldn't have had the chance to before. It's been an exciting journey.&#8221;
Read Also:<a href="https://www.benzinga.com/markets/cannabis/24/09/40972472/x-rays-microwaves-and-now-what-this-company-freezes-weed-at-320-f-to-kill-mold-and-save-a-ton"> X-Rays, Microwaves And Now What? This Company Freezes Weed At -320°F To Kill Mold And Save A Ton</a>
<h3 class="wp-block-heading">Passion, Innovation, Persistence</h3>
For other cannabis entrepreneurs looking to make their mark in an increasingly competitive market, Kristin offers some valuable advice. &#8220;Be an expert in what you do and approach it with passion. Right now, MSOs [multi-state operators] aren't looking for the same old thing. They want better products or new ways for people to enjoy cannabis.&#8221;
Today, LEVIA continues to lead in the cannabis beverage market, with plans to expand beyond Massachusetts.&nbsp;
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="703" height="1024" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/17164843/Levia-x3-703x1024.jpg" alt="" class="wp-image-601650" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/17164843/Levia-x3-703x1024.jpg 703w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/17164843/Levia-x3-206x300.jpg 206w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/17164843/Levia-x3.jpg 741w" sizes="(max-width: 703px) 100vw, 703px" /><figcaption class="wp-element-caption">Courtesy of LEVIA. </figcaption></figure>
The brand's popular tinctures have already made their way to states like Florida and Nevada, and Kristin is particularly excited about entering New Jersey. &#8220;There's a camaraderie between Massachusetts and New Jersey, and I'm most looking forward to getting our drinks there next.&#8221;
As for the immediate future, LEVIA has launched its Blood Orange seltzer, a limited-edition flavor timed for Halloween. &#8220;We wanted to do something seasonal, and people love the orange flavor. It&#8217;s been a hit already,&#8221; Kristin said.
Read Next:<a href="https://www.benzinga.com/general/biotech/24/09/40754415/transforming-a-5-000-year-old-craft-how-weed-companies-use-data-to-make-hash-without-losing-its-a"> Transforming A 5,000-Year-Old Craft: How Weed Companies Use Data To Make Hash Without Losing Its Art</a>

Market Summary

Contracts

Retail Sales

Startups

AYRWF

Sold Out Before Hitting Shelves: Why Did AYR Wellness Snatch Up This Local Cannabis Brand?

Ryan Routh, charged with the attempted assassination of former President Donald Trump, has requested the recusal of U.S. District Judge Aileen Cannon from his case, citing potential bias.
What Happened: Routh&#8217;s legal team submitted a request on Thursday for Judge Cannon to step down from the case. They argued that the &#8220;unprecedented circumstances&#8221; surrounding the case could lead to a perception of partiality, given that Trump, who appointed Cannon and has publicly praised her, is the alleged victim, <a href="https://thehill.com/regulation/court-battles/4940160-ryan-routh-trump-assassination-cannon-recuse/">reported</a> The Hill.
Trump, currently running as the Republican presidential candidate against Vice President Kamala Harris, has frequently commended Cannon for her rulings in his case. Routh&#8217;s lawyers contend that if Trump were to be re-elected, he could potentially nominate Cannon for a higher federal judgeship, thereby creating a conflict of interest.
&#8220;By repeatedly and publicly praising this Court by name for its rulings in his case, Mr. Trump has arguably bolstered the perception that the Court is partial in his favor,&#8221; wrote the attorneys of Routh.
Interestingly, Cannon is presiding over both Routh&#8217;s criminal prosecution and the criminal prosecution of Trump by special counsel Jack Smith for allegedly retaining classified documents unlawfully. Cannon dismissed Trump&#8217;s charges in July, a decision Smith is now appealing.
Routh&#8217;s attorneys maintain that federal law necessitates Cannon&#8217;s recusal, given Trump&#8217;s public endorsement of her. Federal prosecutors are currently reviewing the request.
Routh is facing five criminal charges, including the attempted assassination of a major presidential candidate. If found guilty, he could be sentenced to life imprisonment.
See Also: <a href="https://www.benzinga.com/news/24/10/41348822/mark-cuban-says-he-knows-what-trump-wants-to-achieve-with-tariffs-but-the-ex-president-has-no-idea-w?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mark Cuban Says He Knows What Trump Wants To Achieve With Tariffs But The Ex-President Has No Idea What It Takes To Do It — &#8216;That&#8217;s How Crazy His Approach Is&#8217;</a>
Why It Matters: Routh was charged with two federal gun-related offenses in connection with his <a href="https://www.benzinga.com/general/politics/24/09/40882524/man-accused-in-trump-assassination-attempt-could-face-15-years-for-federal-gun-crimes-whats-next">attempted assassination of Trump</a>, marking the second attempt on the former president&#8217;s life ahead of the 2024 election.
Trump was escorted to safety <a href="https://www.benzinga.com/24/09/40869836/donald-trump-safe-and-unharmed-after-shooting-incident-at-florida-golf-club">following a shooting incident</a> at his Florida golf club, as reported by <a href="https://www.benzinga.com/24/09/40869836/donald-trump-safe-and-unharmed-after-shooting-incident-at-florida-golf-club">Benzinga</a>. 
This month, Another man was <a href="https://www.benzinga.com/news/24/10/41306168/man-held-with-loaded-weapon-ne">arrested with loaded firearms</a> near a rally site for Trump in California, possibly preventing a third assassination attempt.
In July, a shooter at a Donald Trump rally in Butler, Pennsylvania was killed, and one attendee died. Trump was led offstage by Secret Service agents while <a href="https://www.benzinga.com/general/politics/24/07/39761947/gunman-dead-trump-rally-attendee-killed-says-local-da-former-president-comes-under-fire-in-penns">bleeding from his ear.</a>
Image via Flickr
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

Trump Assasination Suspect Wants Judge Aileen Cannon To Recuse Herself: The Ex-President Has 'Bolstered The Perception That The Court Is Partial In His Favor'

BIOR

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

Kintara Therapeutics, Inc. - Common Stock

KTRA

SDOT

SANW

A close head-to-head battle between Donald Trump and Vice President Kamala Harris is expected in polls for the<a href="https://www.benzinga.com/topic/2024-election"> 2024 presidential election.</a>
Betting prediction markets paint a different picture with one candidate jumping out to a sizable lead. Here's the latest.
What Happened: Prediction markets Polymarket and Kalshi are among the companies taking election betting by storm and often showing wide swings on the leading candidate, something that has drawn red flags<a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41363075/26m-bet-on-trumps-election-victory-fuels-speculation-of-coordinated-activity-on-polymarket"> in recent weeks.</a>
Polymarket witnessed a wide swing in Trump's favor, which comes with several large wagers placed on him, which could sway the percentage chance he has of winning and not be indicative of how people will vote or who the majority of people think will win.
On Kalshi, Trump is also seeing his lead grow, with the prediction market for the 2024 presidential election winner showing a 58% chance for Trump and 42% chance for Harris on Thursday, hitting a record-high 16-point lead for the former president.
At the time of writing, the market shows Trump at 57% and Harris at 43% with over $22.9 million in wagers. Polymarket shows Trump with a 61% chance of winning and Harris with a 39% chance of winning with a $1.9 billion bet.
Kalshi recently <a href="https://www.benzinga.com/news/24/09/40760283/betting-on-u-s-elections-federal-judges-decision-greenlights-political-wagers" target="_blank" rel="noreferrer noopener">resumed accepting bets&nbsp;</a>on the 2024 election after a federal appeals court lifted a prior ban that came as the Commodity Futures Trading Commission (CFTC) contested the markets.
The company calls itself the only place to legally bet on the election in the U.S., with other prediction markets and sportsbooks not allowed to legally accept wagers in the country.
While prediction markets show Trump as the overall leader, the key markets could be on the individual swing states that could determine the election. 
Here are the current <a href="https://kalshi.com/live/swing-states">odds </a>on Kalshi, with electoral college votes for each state in parentheses:
<ul>
<li>Arizona (11): Trump 64%, Harris 36%</li>
<li>Georgia (16): Trump 60%, Harris 40%</li>
<li>Michigan (15): Harris 51%, Trump 49%</li>
<li>Nevada (6): Harris 52%, Trump 48%</li>
<li>North Carolina (16): Trump 58%, Harris 42%</li>
<li>Pennsylvania (19): Trump 54%, Harris 46%</li>
<li>Wisconsin (10): Trump 52%, Harris 48%</li>
</ul>
The current odds show Harris winning two states and getting 21 electoral college votes from the seven key states and Trump winning five states and getting 72 electoral college votes from the swing states.
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Why It's Important: On Polymarket, users can deposit funds using USDC (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">USDC</a>) via the Polygon (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/matic/usd">MATIC</a>) network, or directly from a crypto account with Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>). In each betting market, the winning options pays out at $1.
Polymarket could show results that skew to a more international audience, while Kalshi could provide a better look at who American voters think will win.
Both prediction markets differ from national election polls for the overall winner, where Harris is often the winner. Sportsbooks show Trump as<a href="https://www.benzinga.com/general/sports-betting/24/10/41347270/trump-vs-harris-2024-election-polls-sportsbooks-betting-odds-show-different-winners-for-20"> the slight favorite,</a> but much closer than the prediction markets.
A<a href="https://www.benzinga.com/general/politics/24/10/41283673/trump-vs-harris-2024-election-swing-state-poll-too-close-to-call-but-this-candidate-leads"> recent Emerson College poll </a>of voters in the <a href="https://www.benzinga.com/topic/swing-states">seven key swing states </a>showed a similar result to the Kalshi markets above.
<ul>
<li>Arizona: Trump 49%, Harris 47%</li>
<li>Georgia: Trump 49%, Harris 48%</li>
<li>Michigan: Trump 49%, Harris 49%</li>
<li>Nevada: Harris 48%, Trump 47%</li>
<li>North Carolina: Trump 49%, Harris 48%</li>
<li>Pennsylvania: Trump 49%, Harris 48%</li>
<li>Wisconsin: Trump 49%, Harris 49%</li>
</ul>
That poll showed Trump leading in four states, Harris leading in one and the candidates tied in two states. The percentages were much closer than the prediction markets though.
The seven swing states in question together represent 93 electoral votes in the 2024 election. Six of the seven states were won by President Joe Biden in the 2020 election with Trump winning North Carolina. Several of the states were flipped from Trump's win in the 2016 election.
An X account shared an update from election predictor Nate Silver saying Trump has a 50% chance of winning the 2024 election. The model jumps to 93% chance if Trump wins Pennsylvania.
The tweet prompted a response from Tesla CEO Elon Musk who has publicly supported Trump and is now campaigning for him.
"That's why I'm in Pennsylvania," Musk <a href="https://x.com/elonmusk/status/1847000395912302630">said</a>.
Musk <a href="https://x.com/elonmusk/status/1846996928451826093">said </a>"making progress" earlier Thursday when sharing the Kalshi market that showed Trump with an all-time high lead in the prediction market.
The new prediction of the importance of Pennsylvania and its 19 electoral votes and Trump's growing lead in the state could illustrate why the overall presidential race is close.
Read Next: 
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<li><a href="https://www.benzinga.com/news/management/24/10/41302431/elon-musk-to-end-year-as-richest-man-in-the-world-prediction-market-says-yes-higher-chance-than-l">Elon Musk To End Year As Richest Man In The World? Prediction Market Says Yes, Higher Chance Than Larry Ellison Or Jensen Huang</a></li>
</ul>
Photo: Shutterstock

$ETH

$MATIC

$USDC

USDC

Trump Vs. Harris Swing State Battle: Musk Says 'That's Why I'm In Pennsylvania' With Kalshi Prediction Market Results On Display

Allstate Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALL#NYSE">ALL</a>) reported $630 million in catastrophe losses related to Hurricane Helene alone. The company reported total estimated catastrophe losses of $889 million for September, more than twice the amount reported <a href="https://www.benzinga.com/pressreleases/24/10/b41378242/allstate-announces-september-and-third-quarter-2024-catastrophe-losses-run-off-reserve-review-and-">for the same month last year.&nbsp;</a>
What Happened: The impact of Hurricane Helene has led to a substantial increase in Allstate&#8217;s losses for the third quarter of 2024 which the company reported as $1.7 billion, up from $1.18 billion in the same quarter in 2023. 
Other insurance companies affected by the recent hurricanes include Progressive Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PGR#NYSE">PGR</a>), which <a href="https://www.benzinga.com/pressreleases/24/10/g41329804/progressive-reports-september-2024-results">recorded</a> $563 million in catastrophe in September as a result of Hurricane Helene. Travelers Companies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRV#NYSE">TRV</a>) reported catastrophe losses of $939 million for the third quarter of 2024 due to Hurricane Helene, an increase of $89 million compared to the same period last year.
Read Next: <a href="https://www.benzinga.com/news/24/10/41385546/ftc-click-to-cancel-rule-makes-it-easy-to-end-subscriptions-what-it-means-for-netflix-planet-fitness">FTC &#8216;Click-To-Cancel&#8217; Rule Makes It Easy To End Subscriptions: What It Means For Netflix, Planet Fitness And More</a>
Moody's Risk Management Solutions, or RMS, said<a href="https://www.benzinga.com/news/24/10/41321615/hurricanes-helene-milton-insurance-losses-spike-to-55b-moodys"> it expects</a> combined total insured losses from Hurricane Helene and Hurricane Milton to range between $35 billion and $55 billion.
According to <a href="https://www.insurtechinsights.com/hurricanes-helene-and-milton-floridas-insurance-market-on-the-brink/">a report</a> from Insurtech Insights, Hurricanes Helene and Milton contributed to total losses for Florida insurers of more than $100 billion for the fifth consecutive year, comparable to the losses from Hurricane Katrina in 2005.&nbsp;
Why It Matters: Citizens, Florida's state-backed insurer of last resort, has seen a surge in policyholders in recent years, especially after recent destructive hurricanes. 
The rapid influx raises serious concerns about its financial stability as it has experienced massive underwriting losses, amounting to hundreds of millions of dollars. Citizens estimates it is currently at a 38% rate inadequate, meaning it needs a 38% rate increase to be solvent. However, Florida law caps its annual rate increases at 10%
Citizens is transferring more than 648,000 policies to private insurers, per<a href="https://www.clickorlando.com/news/local/2024/10/04/what-citizens-insurance-depopulation-means-for-florida-homeowners/"> Click Orlando</a>. These companies are also experiencing <a href="https://www.benzinga.com/markets/equities/24/10/41240852/back-to-back-hurricanes-batter-floridas-insurance-market-stocks-to-watch">financial strain</a> due to increased claims, likely leading to higher premiums and reduced coverage availability.
Read Also:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/government/24/10/41346351/cybersecurity-firm-warns-of-threats-to-2024-presidential-election-integrity">Cybersecurity Firm Warns Of Threats To 2024 Presidential Election Integrity</a>&nbsp;</li>
</ul>
Photo: wurliburli from Pixabay

Movers

Insurance

Allstate Records $630M In Losses From Hurricane Helene, Other Insurers Report Significant Losses As Damage Mounts

Merck also announced data from a planned interim analysis of the MK-1654-007 trial, a Phase 3 trial evaluating the safety and efficacy of clesrovimab versus palivizumab in infants and children at increased risk for severe RSV disease.
The primary endpoint of the study is the safety and tolerability of clesrovimab in infants entering their first RSV season. Interim results showed clesrovimab had a comparable safety profile to palivizumab, and no drug-related serious AEs were reported to date.
Incidence rates of RSV-associated MALRI requiring &ge; 1 indicator of LRI or severity and RSV-associated hospitalizations (secondary endpoints) were also comparable between clesrovimab (3.6%&nbsp;and&nbsp;1.3%, respectively) and palivizumab (3.0%&nbsp;and&nbsp;1.5%, respectively) through Day 150 (5 months).

Merck Reports Data From Planned Interim Analysis Of MK-1654-007 Trial; Interim Results Showed Clesrovimab Had Comparable Safety Profile To Palivizumab And No Drug-Related Serious Adverse Events Were Reported To Date

In the Phase 2b/3 trial, clesrovimab reduced RSV-associated hospitalizations (secondary endpoint) and RSV-associated lower respiratory infection hospitalizations (tertiary endpoint) by more than&nbsp;84%&nbsp;and&nbsp;90%, respectively, through 5 months.
Clesrovimab has the potential to become the first and only approved immunization designed to protect infants with the same single dose regardless of weight for the duration of their first RSV season.

Merck Reports Results From Phase 2b/3 Clinical Trial Evaluating Clesrovimab; Results From MK-1654-004 Trial Met All Prespecified Endpoints

Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) has dominated the electric vehicle sector for years, but is seeing its global market share under pressure in China and other territories with Chinese EV companies <a href="https://www.benzinga.com/markets/equities/24/09/40669363/teslas-china-rivals-report-steady-august-sales-performance-amid-intense-price-competition-what-i">launching low-cost models.</a>
What Happened: Tesla and the <a href="https://www.benzinga.com/electric-vehicles">electric vehicle sector </a>could have another rival soon with Chinese company Skywell unveiling new electric vehicles at the 2024 Paris Auto Show this week.
Skywell may not be a household name in the U.S. yet, but there's a chance that consumers are familiar with the company's Skyworth affordable televisions that are sold in America by Walmart and Amazon.
Skywell unveiled the Q hatchback electric vehicle at the auto show, as <a href="https://electrek.co/2024/10/17/this-maker-of-cheap-tvs-just-launched-a-solid-looking-ev/">reported </a>by Electrek. The vehicle could compete against other similar electric vehicle offerings like the VW ID.3, Cupra Born and BYD Dolphin, according to the report.
The Q is expected to go on sale in 2025 in Europe and be "competitively priced." While not all details have been released, the report notes that a larger battery option available could provide up to 300 miles of range and the 0-60mph time is quicker than the strong-selling BYD Dolphin.
The company best known for its televisions and electronics previously launched the BE11 in the U.K. and sold electric vehicles in Israel previously, Electrek reported.
Are you buying when the CEOs of the Magnificent 7 are selling?
<ul>
<li>Stay in the know with our Insider Trades page — <a href="https://www.benzinga.com/sec/insider-trades/">see when leaders like Mark Zuckerberg, Elon Musk, and Jensen Huang are offloading their own shares.</a></li>
</ul>
Why It's Important: While it's early into the Q launch phase, the Electrek report said the vehicle looks to be a potential contender in the electric vehicle space.
While a transition from making affordable televisions to affordable electric vehicles may sound like a stretch, many technology companies have evolved from their early roots.
Electrek shares the examples of BYD Co (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDY#OTC">BYDDY</a>) previously making mobile phones before cars, and Volvo owner Geely making refrigerator parts before vehicles. Let's not forget that Nintendo got its start as a playing cards company before getting into video games.
How the company got its start shouldn&#8217;t be the concern here for Tesla and other EV makers, the major concern should be the potential lower price point. 
The Skywell vehicle might not hit the market and might never be available for sale in the U.S. The potential release and focus on a lower price point will likely put the potential vehicle in competition with BYD and other Chinese electric vehicle companies.
These Chinese companies continue to put pressure on Tesla's global market share. While Tesla has been competitive on pricing for years thanks to its vertical integration, the company is getting beat in price by several models in the competitive battle for market share and units sold.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/24/09/41027049/tesla-returns-to-paris-motor-show-for-first-time-in-6-years-cybertruck-to-be-featured-will-elon-musk">Tesla Returns To Paris Motor Show For First Time In 6 Years: Cybertruck To Be Featured, Will Elon Musk Present?</a></li>
</ul>
Photos: Unsplash/Pixabay

Global

BYDDY

Tesla Has A New Chinese Electric Vehicle Competitor: How A Company That Used To Sell Cheap TVs Is Entering EV Race

CMCSA

Comcast Installs Its First Flagship Lift Zone In Partnership With Inspiredu In Atlanta, Georgia

The Palliser Block consists of oil and gas wells, surface facilities, a pipeline network and certain oil and gas development rights. The transaction, which is subject to regulatory approval and other customary closing conditions, is expected to close late in the&nbsp;fourth quarter&nbsp;of 2024.

Asset Sales

SLB Agrees To Sell Its Interests In The Palliser Block Located In Alberta, Canada; No Terms Disclosed

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Molecular Templates (NASDAQ:<a href="https://investorplace.com/stock-quotes/mtem-stock-quote/">MTEM</a>) just reported results for the fourth quarter of 2023.<ul><li>Molecular Templates reported earnings per share of -73 cents. This was above the analyst estimate for EPS of -97 cents.</li><li>The company reported revenue of $7.02 million.</li><li>This was 9.70% worse than the analyst estimate for revenue of $7.77 million.</li></ul><div>InvestorPlace Earnings is a project that leverages data from <a href="https://www.tradesmith.com">TradeSmith</a> to automate coverage of quarterly earnings reports. InvestorPlace Earnings distills key takeaways including earnings per share and revenue, as well as how a company stacks up to analyst estimates. These articles are published without human intervention, allowing us to inform our readers of the latest figures as quickly as possible. To report any concerns or inaccuracies, please contact us at <a href="mailto:editor@investorplace.com">editor@investorplace.com</a>.</div><h3>More From InvestorPlace</h3>
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	The post <a href="https://investorplace.com/earning-results/2024/04/mtem-stock-earnings-molecular-templates-for-q4-of-2023/">MTEM Stock Earnings: Molecular Templates Beats EPS, Misses Revenue for Q4 2023</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

MTEM Stock Earnings: Molecular Templates Beats EPS, Misses Revenue for Q4 2023

Molecular Templates Inc (MTEM) has shared an announcement. Molecular Templates, Inc. is cutting its workforce by 30% to conserve resources and sust...

Molecular Templates Inc Announces Layoffs, CMO Resignation

Molecular Templates files to sell 11.01M common shares for holders

Molecular Templates GAAP EPS of $0.08, revenue of $11.09M beats by $5.19M

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Molecular Templates (NASDAQ:<a href="https://investorplace.com/stock-quotes/mtem-stock-quote/">MTEM</a>) just reported results for the first quarter of 2024.<ul><li>Molecular Templates reported earnings per share of 8 cents. This was above the analyst estimate for EPS of -78 cents.</li><li>The company reported revenue of $11.09 million.</li><li>This was 87.90% better than the analyst estimate for revenue of $5.90 million.</li></ul><div>InvestorPlace Earnings is a project that leverages data from <a href="https://www.tradesmith.com">TradeSmith</a> to automate coverage of quarterly earnings reports. InvestorPlace Earnings distills key takeaways including earnings per share and revenue, as well as how a company stacks up to analyst estimates. These articles are published without human intervention, allowing us to inform our readers of the latest figures as quickly as possible. To report any concerns or inaccuracies, please contact us at <a href="mailto:editor@investorplace.com">editor@investorplace.com</a>.</div><h3>More From InvestorPlace</h3>
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MTEM Stock Earnings: Molecular Templates Beats EPS, Beats Revenue for Q1 2024

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
It&rsquo;s time to dive into the biggest pre-market stock movers for Thursday as we check out all of the hottest news this morning!



Moving stocks this morning are earnings reports, new contracts, a CEO change and more.



Let&rsquo;s get into that news below!



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



<ol><li>Cue Health (NASDAQ:<a href="https://investorplace.com/stock-quotes/hlth-stock-quote/">HLTH</a>) stock is rocketing more than 49% despite <a href="https://investorplace.com/2024/05/why-is-cue-health-hlth-stock-down-40-today/">plans to close its business</a>.</li>



<li>Smart for Life (NASDAQ:<a href="https://investorplace.com/stock-quotes/smfl-stock-quote/">SMFL</a>) shares are soaring over 48% after <a href="https://www.nasdaq.com/press-release/smart-for-life-announces-updates-on-successful-completion-of-restructuring-program">completing a restructuring program</a>.</li>



<li>Molecular Templates (NASDAQ:<a href="https://investorplace.com/stock-quotes/mtem-stock-quote/">MTEM</a>) stock is surging more than 30% without any clear news this morning.</li>



<li>OneMedNet (NASDAQ:<a href="https://investorplace.com/stock-quotes/onmd-stock-quote/">ONMD</a>) shares are increasing over 29% after <a href="https://finance.yahoo.com/news/onemednet-inks-agreement-global-top-200500512.html">signing a new contract</a>.</li>



<li>Kintara Therapeutics (NASDAQ:<a href="https://investorplace.com/stock-quotes/ktra-stock-quote/">KTRA</a>) stock is rising more than 26% alongside heavy pre-market trading.</li>



<li>Cheche (NASDAQ:<a href="https://investorplace.com/stock-quotes/ccg-stock-quote/">CCG</a>) shares are gaining over 21% with its <a href="https://www-thailand--business--news-com.webpkgcache.com/doc/-/s/www.thailand-business-news.com/thailand-prnews/cheche-group-reports-first-quarter-2024-unaudited-financial-results">latest earnings release</a>.</li>



<li>Verb Technology (NASDAQ:<a href="https://investorplace.com/stock-quotes/verb-stock-quote/">VERB</a>) stock is climbing more than 17% with strong early morning trading.</li>



<li>Nexalin Technology (NASDAQ:<a href="https://investorplace.com/stock-quotes/nxl-stock-quote/">NXL</a>) shares are jumping over 15% despite a lack of news.</li>



<li>Burlington Stores (NYSE:<a href="https://investorplace.com/stock-quotes/burl-stock-quote/">BURL</a>) stock is getting a more than 14% boost with its <a href="https://finance.yahoo.com/news/burlington-stores-inc-reports-first-104500806.html">Q1 earnings report</a>.</li>



<li>C3.ai (NYSE:<a href="https://investorplace.com/stock-quotes/ai-stock-quote/">AI</a>) shares are up over 14% after <a href="https://www.investors.com/news/technology/c3-ai-stock-ai-stock-c3-ai-earnings-news-q12024/">beating Q1 estimates</a>.</li>
</ol><h2>10 Top Losers</h2>



<ol><li>NovaBay Pharmaceuticals (NYSEMKT:<a href="https://investorplace.com/stock-quotes/nby-stock-quote/">NBY</a>) stock is plummeting more than 40% alongside <a href="https://www.nasdaq.com/press-release/novabay-pharmaceuticals-announces-approval-all-proposals-its-2024-annual-meeting">annual shareholder meeting plans</a>.</li>



<li>UiPath (NYSE:<a href="https://investorplace.com/stock-quotes/path-stock-quote/">PATH</a>) shares are diving over 30% on <a href="https://www.nasdaq.com/press-release/uipath-re-appoint-daniel-dines-chief-executive-officer-rob-enslin-steps-down-ceo-and">a CEO change</a>.</li>



<li>Innovative Eyewear (NASDAQ:<a href="https://investorplace.com/stock-quotes/lucy-stock-quote/">LUCY</a>) stock is retreating more than 21% on a <a href="https://finance.yahoo.com/news/innovative-eyewear-inc-announces-2-184300125.html">new direct offering</a>.</li>



<li>Sonoma Pharmaceuticals (NASDAQ:<a href="https://investorplace.com/stock-quotes/snoa-stock-quote/">SNOA</a>) shares are tumbling over 18% without any obvious news today.</li>



<li>SCWorx (NASDAQ:<a href="https://investorplace.com/stock-quotes/worx-stock-quote/">WORX</a>) stock is taking a more than 16% beating this morning.</li>



<li>Salesforce (NYSE:<a href="https://investorplace.com/stock-quotes/crm-stock-quote/">CRM</a>) shares are dropping over 16% on <a href="https://finance.yahoo.com/video/salesforce-stock-sinking-q2-earnings-202330512.html">poor Q2 guidance</a>.</li>



<li>Onconetix (NASDAQ:<a href="https://investorplace.com/stock-quotes/onco-stock-quote/">ONCO</a>) stock is decreasing close to 16% after an unexpected rally yesterday.</li>



<li>Sharps Technology (NASDAQ:<a href="https://investorplace.com/stock-quotes/stss-stock-quote/">STSS</a>) shares are falling more than 14% <a href="https://investorplace.com/2024/05/why-is-sharps-technology-stss-stock-up-194-today/">following a recent rally</a>.</li>



<li>Fangdd Network (NASDAQ:<a href="https://investorplace.com/stock-quotes/duo-stock-quote/">DUO</a>) stock is slipping over 13% today.</li>



<li>Agilent Technologies (NYSE:<a href="https://investorplace.com/stock-quotes/a-stock-quote/">A</a>) shares close out our pre-market stock movers down over 13% on <a href="https://finance.yahoo.com/news/agilent-reports-q2-earnings-key-220003997.html">fiscal Q2 earnings</a>.</li>
</ol>On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the&nbsp;InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.
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	The post <a href="https://investorplace.com/2024/05/todays-biggest-pre-market-stock-movers-10-top-gainers-and-losers-on-thursday-may-30th/">Today's Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Thursday</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

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

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
There are risks associated with any investment &ndash; there&rsquo;s no such thing as a surefire investment, although tools like the Portfolio Grader can make your life easier when looking for stocks to buy and those to avoid. One of the riskiest investments are in F-rated <a href="https://investorplace.com/stock-types/penny-stocks/">penny stocks</a>, and those should be avoided at all costs when you&rsquo;re considering your portfolio.



Penny stocks are low-priced securities, but they really don&rsquo;t cost a penny. Instead, they are shares of stocks that are priced at less than $5 &ndash; still a pittance compared to some of the top names in the market. While some large companies fall into penny stock territory, penny stocks often represent small, less established companies. While the low cost and potential for high returns can make penny stocks appealing to some investors, they come with significant risks, especially when dealing with F-rated penny stocks.



F-rated penny stocks represent companies that have the lowest ratings from the Portfolio Grader based on factors like earnings performance, growth, trading momentum and analyst sentiment. These ratings show poor financial health, unstable management, or dubious business practices.



Another huge issue with F-rated penny stocks is that they are volatile. You have to have a high risk tolerance because these stocks often experience significant price swings within short periods, driven by speculative trading and limited market liquidity. 



It is very difficult to predict the day-to-day price movements of penny stocks, which means a bad bet can wipe out your investment pretty quickly.



The names on this list all get &ldquo;F&rdquo; ratings in the Portfolio Grader, and should be avoided this month.



<h2>Tonix Pharmaceuticals (TNXP)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/03/pharmaceuticals_tnxp_1600-300x169.png" alt="medicine research, pharmaceutical background, LJPC stock"><div>Source: Sisacorn / Shutterstock.com</div></div>Tonix Pharmaceuticals (NASDAQ:<a href="https://investorplace.com/stock-quotes/tnxp-stock-quote/">TNXP</a>) is a biopharmaceutical company based in New Jersey. The company works on created drugs and therapies to treat disorders of the central nervous system.



It currently has a drug candidate in Phase 3 testing to treat fibromyalgia, and a treatment in Phase 2 trials that would treat long Covid-19 symptoms.



But one of the challenges of investing in pharma companies is the expense. Research and development takes a lot of money, as does the clinical trials. And even after all that, there&rsquo;s never a guarantee that the drug will come to market. That&rsquo;s why investing in a penny pharma stock is particularly dangerous.



Tonix stock fell by 40% in June when it announced a <a href="https://investorplace.com/2024/06/why-is-tonix-pharmaceuticals-tnxp-stock-down-40-today/">proposed public offering</a> to raise money for its continued funding. Investors don&rsquo;t like it when their stock is diluted, andthis is the second time. Tonix also completed a 1-for-32 reverse stock split in June to try oto keep the stock price up.



Even when that reverse split, TNXP stock is barely over $1 per share again. The stock is down 91% this year and gets an &ldquo;F&rdquo; rating in the Portfolio Grader.



<h2>Nauticus Robotics (KITT)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/penny-stocks-fingers-300x169.jpg" alt="Image of a penny held between two fingers with a white indoor background. Dividend-Paying Penny Stocks"><div>Source: Shutterstock</div></div>Nauticus Robotics (NASDAQ:<a href="https://investorplace.com/stock-quotes/kitt-stock-quote/">KITT</a>) is an interesting penny stock. The company makes underwater robots and software that is used by energy, aquaculture and security systems.



Nauticus markets itself as a solution that can help companies manage and maintain offshore wind farms. It says that its robots reduces the need for divers and topside personnel.



But being an interesting company and being a good investment doesn&rsquo;t go hand-in-hand. Nauticus only has a market capitalization of $15 million, and a stock price of roughly 15 cents per share. 



That&rsquo;s why the board held a <a href="https://ir.nauticusrobotics.com/sec-filings/all-sec-filings">special meeting on June 17</a> in which it increased the number of unissued common stock shares from 625 million to 5 billion shares. And it also got shareholders to sign off on a reverse stock split that could be as little as 1-to-6 or as much as 1-to-70 shares.



KITT stock popped briefly on the news before returning to its depressed levels. Meanwhile, earnings results for the first quarter showed only $500,000 in revenue compared to $2.8 million a year ago. 



The adjusted net loss was $7.4 million for the quarter, which was an improvement from the first quarter a year ago when it lost $10.7 million.



KITT is in rough shape, down 78% this year. It gets an &ldquo;F&rdquo; rating in the Portfolio Grader.



<h2>Mullen Automotive (MULN)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/03/muln_mullen_1600-300x169.png" alt="The Mullen (MULN) Five vehicle is displayed at the 2021 LA Auto Show media day in Los Angeles, November, 18, 2021."><div>Source: Ringo Chiu / Shutterstock.com</div></div>I&rsquo;ve been pretty hard on Mullen Automotive (NASDAQ:<a href="https://investorplace.com/stock-quotes/muln-stock-quote/">MULN</a>), which is an electric vehicle company that&rsquo;s struggling to gain relevance. 



I wasn&rsquo;t impressed in 2023 when the company enacted three reverse stock splits, including a 1-for-100 split in December, just so it could remain listed on the Nasdaq.



But Mullen is making a legitimate effort to remake its business by becoming a manufacturer of commercial EVs. It signed a new deal to supply 40 commercial vehicles to a company in&nbsp;<a href="https://finance.yahoo.com/news/mullen-automotive-secures-major-european-183010622.html">Switzerland</a>.&nbsp;It also signed a franchise <a href="https://seekingalpha.com/news/4114510-mullen-enters-new-dealership-and-gets-initial-order?source=content_type%3Areact%7Cfirst_level_url%3Amarket-news%7Csection_asset%3Amain">agreement</a> with Eco Auto, a dealership located in Boston, that&rsquo;s focused on EVs.



I appreciate that Mullen is trying to salvage some value. It invoiced $16.3 million in vehicles in the second quarter of fiscal 2024. But losses are still massive, with a net loss of the quarter of $235.3 million and a cash burn of $120 million.



MULN stock is down 82% this year and gets an &ldquo;F&rdquo; rating in the Portfolio Grader.



<h2>Avalon GloboCare (ALBT)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/penny-stocks-finding-magnify-300x169.jpg" alt="A hand holding a magnifying glass over pennies. under-$1 stocks to buy. penny stocks to buy"><div>Source: Shutterstock</div></div>Avalon GloboCare (NASDAQ:<a href="https://investorplace.com/stock-quotes/albt-stock-quote/">ALBT</a>) is a biotechnology company that develops diagnostic and clinical laboratory products. It&rsquo;s working on a commercial Breathalyzer system that would be a handheld device that can detect acetone levels.



It also has a research project with the Massachusetts Institute of Technology to create a QTY code protein design platform.



The advancements are interesting, but the company has some issues at well. In May it got warning from Nasdaq that as of May 22, the company had not yet filed its first quarter report. <a href="https://www.avalon-globocare.com/investors/sec-filings/quarterly-reports">When the report finally came out</a>, it showed a net loss of $1.36 million, or 12 cents per share, versus a loss of $2.91 million and 29 cents per share in the same quarter a year ago.



Avalon has just over $300,000 in cash on hand, so it will have to be careful with its finances if its going to complete its projects.



ALBT stock is down 14% this year and gets an &ldquo;F&rdquo; rating in the Portfolio Grader.



<h2>ChargePoint Holdings (CHPT)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/04/chpt-stock-2-300x169.jpg" alt="EV stocks: A close-up shot of a ChargePoint charging station."><div>Source: YuniqueB / Shutterstock.com</div></div>ChargePoint Holdings (NYSE:<a href="https://investorplace.com/stock-quotes/chpt-stock-quote/">CHPT</a>) is a good company with a good idea and it simply got outplayed. 



The Biden administration is all-in on building out the national infrastructure to power electric vehicles, and it made perfectly good sense for a company like ChargePoint to be in the forefront of making that happen.



But then there&rsquo;s Tesla (NASDAQ:<a href="https://investorplace.com/stock-quotes/tsla-stock-quote/">TSLA</a>). Tesla has more than 40,000 charging stations and a powerful automotive company that has a vested interest in getting as many charging stations out there as possible. Tesla&rsquo;s charging stations are all branded with the company&rsquo;s name of course, making them a valuable marketing and advertising tool that just makes Tesla stronger.



Tesla also gets billions of dollars a year by partnering with other automotive companies so they can use the Tesla network.



Where does that leave ChargePoint? Not in a good place. <a href="https://s22.q4cdn.com/779683160/files/doc_financials/2024/2025/q1/CHPT_FY2025-Q1_FINAL.pdf">Earnings</a> for the first quarter of fiscal 2025 showed revenue of $107 million, down 18% from a year ago. The company posted a net loss of $71.8 million, which was a 10% improvement from last year.



On Penny Stocks and Low-Volume Stocks:&#8239;With only the rarest exceptions, InvestorPlace 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;penny stocks&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;InvestorPlace.com&rsquo;s writers disclose this fact and warn readers of the risks.



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>



On the date of publication, neither Louis&nbsp;Navellier nor the InvestorPlace Research Staff member primarily responsible for this article held (either directly or indirectly) any positions in the securities mentioned in this article.
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Molecular Templates (NASDAQ:<a href="https://investorplace.com/stock-quotes/mtem-stock-quote/">MTEM</a>) just reported results for the second quarter of 2024.<ul><li>Molecular Templates reported earnings per share of -$1.23. This was above the analyst estimate for EPS of -$1.44.</li><li>The company reported revenue of $572,000.</li><li>This was 33.02% better than the analyst estimate for revenue of $430,000.</li></ul><div>InvestorPlace Earnings is a project that leverages data from <a href="https://www.tradesmith.com">TradeSmith</a> to automate coverage of quarterly earnings reports. InvestorPlace Earnings distills key takeaways including earnings per share and revenue, as well as how a company stacks up to analyst estimates. These articles are published without human intervention, allowing us to inform our readers of the latest figures as quickly as possible. To report any concerns or inaccuracies, please contact us at <a href="mailto:editor@investorplace.com">editor@investorplace.com</a>.</div><h3>More From InvestorPlace</h3>
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Molecular Templates GAAP EPS of -$1.23 misses by $0.12, revenue of $0.6M beats by $0.27M

Bristol, Prime Medicine in deal to develop T-cell therapies

ALBT

BURL

CHPT

FCEL

HLTH

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LUCY

MTEM

MULN

ONCO

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PATH

PRME

SMFL

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Health Care

Press Releases

Molecular Templates Announces First Patient Dosed in Phase 1 Trial Evaluating MT-8421, a Novel Engineered Toxin Body Targeting CTLA-4, in Advanced Solid Tumors

Earnings

Molecular Templates, Inc. Reports Third Quarter 2023 Financial Results and Business Update

Molecular Templates to Present at Oppenheimer 34th Annual Healthcare Life Sciences Conference

Molecular Templates, Inc. Provides Interim Update

Financing

Molecular Templates Announces $9.5 Million Private Placement Offering and Agreement to Amend Second Tranche of July 2023 Purchase Agreement

Molecular Templates, Inc. Reports Fourth Quarter 2023 Financial Results and Business Update

Molecular Templates Presents Interim Data from MT-6402 Phase I Study in Patients with PD-L1+ Solid Tumors at the 2024 American Association for Cancer Research (AACR) Annual Meeting; Monotherapy Activity in Checkpoint-Experienced Head and Neck Cancer Patients Observed Through Novel Immuno-oncology Mechanism

Molecular Templates, Inc. Reports First Quarter  2024 Financial Results and Corporate Update

Molecular Templates, Inc. Reports Second Quarter 2024 Financial Results and Corporate Update

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