Ultime notizie per Wishpond Techs (OTC:WPNDF) Azioni

Wishpond Technologies Ltd is a provider of marketing-focused online business solutions providing digital marketing solutions that empower entrepreneurs to achieve success online. The company offers an all-in-one marketing suite that provides companies with marketing, promotion, lead generation, sales automation, ad management, referral marketing, and sales conversion capabilities from one integrated platform. It replaces entire marketing functions in an easy-to-use product, for a fraction of the cost. It serves over 3,700 customers who are mainly small-to-medium size businesses in a wide variety of industries. The company employs a Software-as-a-Service (SaaS) business model where substantially all its revenue is subscription-based recurring revenue.

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Wishpond Technologies Ltd

Cardano (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/ada/usd">ADA</a>) raced past Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) to become the week&#8217;s best performer after a searing double-digit rally on Thursday.
What happened: ADA spiked over 10% in the last 24 hours to reach its highest level since July 23. The rally catapulted the coin to the second spot in the top 24-hour gainers list, far outpacing market heavyweights like Bitcoin and Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>).
With the latest upswing, ADA's weekly gains jumped to nearly 22%, making it the best-performing top 10 cryptocurrencies during the last seven days. The coin overwhelmingly surpassed Bitcoin&#8217;s returns over the week spurred by Donald Trump&#8217;s <a href="https://www.benzinga.com/news/24/11/41768178/donald-trump-defeats-kamala-harris-to-win-2024-election">victory </a>in the presidential election.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41796743/ethereum-whales-wake-up-from-slumber-to-cash-out-90m-amid-rally-but-indicators-show-sentim">Ethereum Whales Wake Up From Slumber To Cash Out $90M Amid Rally, But Indicators Show Sentiment Can Flip</a>
The coin, often dubbed an&nbsp;&#8220;Ethereum Killer,&#8221; witnessed significant interest from whale investors, evidenced by a 31% surge in transactions exceeding $100,000 in value, <a href="https://app.intotheblock.com/">according </a>to IntoTheBlock.&nbsp;
Daily active addresses also rose 21% in the last 24 hours, lending credence to the high network activity.
However, the surge in usage appeared to be driven by profit-taking, as the total balance held by long-term holders of ADA fell by 0.28%.&nbsp;
The latest uptick contrasted with ADA's lackluster year-to-date performance. This year, the coin has lost over 30% of its value, while Bitcoin and Ethereum have gained 71% and 29%, respectively.
Price Action: At the time of writing, ADA was exchanging hands at $0.4134, up 11.65% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>.
Image via Shutterstock
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This 'Ethereum Killer' Trumped Bitcoin Gains Over Election Rally To Emerge As Best Peforming Large-Cap Crypto Over The Week

The Federal Reserve cut interest rates by 0.25 percentage points on Thursday, bringing the federal funds rate to 4.5%-4.75%, its lowest since February 2023. The Fed&#8217;s statement acknowledged solid economic growth and easing inflation but omitted prior language on confidence in reaching the 2% inflation target.
On Thursday, the Dow Jones Industrial Average was flat at 43,729.34 and the S&amp;P 500 rose 0.7% to 5,973.10 while the Nasdaq spiked 1.5% to 19,269.46.
These are the top stocks that gained the attention of retail traders and investors throughout the day:
Rivian Automotive (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>) closed the day with a 3.35% gain at $10.04. The stock&#8217;s intraday high and low were $10.24 and $9.81, respectively, with a 52-week range of $24.61 to $8.26. Rivian reported <a href="https://www.benzinga.com/news/earnings/24/11/41825787/rivian-q3-earnings-highlights-revenue-eps-miss-ceo-confident-in-q4-gross-profit-r2-being-fundamenta">third-quarter revenue</a> of $874 million, missing the Street consensus estimate of $1.00 billion. 
DraftKings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DKNG#NASDAQ">DKNG</a>) ended the day with a 1.91% increase at $38.98. The stock&#8217;s intraday high and low were $39.38 and $38.3, respectively, with a 52-week range of $49.57 to $28.69. DraftKings reported third-quarter revenue of $1.095 billion, up 39% year-over-year, but <a href="https://www.benzinga.com/news/earnings/24/11/41826834/draftkings-q3-highlights-revenue-miss-2024-guidance-trim-first-2025-outlook-ceo-reaffirms-focus-on-">missed the Street consensus estimate</a>.
See Also: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/11/41809435/how-to-earn-500-a-month-from-nvidia-stock-after-trump-win?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">How To Earn $500 A Month From Nvidia Stock After Trump Win</a>
Block, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SQ#NYSE">SQ</a>) fell by 3.05% to close at $75.27. The stock&#8217;s intraday high and low were $78.08 and $74.94, respectively, with a 52-week range of $87.52 to $50.63. The Jack Dorsey-led company reported quarterly earnings of 88 cents per share, <a href="https://www.benzinga.com/news/earnings/24/11/41826457/block-shares-sink-after-mixed-q3-results-eps-beat-revenues-miss">beating the analyst consensus estimate</a>, but revenue missed the consensus estimate. 
Pinterest Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PINS#NYSE">PINS</a>) saw a 0.50% increase to close at $33.93. The stock&#8217;s intraday high and low were $34.65 and $33.91, respectively, with a 52-week range of $45.19 to $27. Pinterest reported <a href="https://www.benzinga.com/news/earnings/24/11/41827920/pinterest-q3-earnings-revenue-beat-eps-miss-soft-guidance-ai-investments-paying-off-and-more">third-quarter revenue</a> of $898 million, beating the consensus estimate, but earnings per share missed analyst estimates. 
Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) rose by 2.90% to close at $296.91. The stock&#8217;s intraday high and low were $299.75 and $285.52, respectively, with a 52-week range of $299.75 to $138.8. Elon Musk&#8217;s net worth <a href="https://www.benzinga.com/markets/equities/24/11/41813356/elon-musks-net-worth-soars-by-26-5-billion-in-single-day-after-tesla-stock-surges-post-trump-vic">soared by $26.5 billion</a> in a single day following Donald Trump&#8217;s victory in the 2024 election. 
Prepare for the day&#8217;s trading <a href="Premarket Movers &amp; News">with top premarket movers and news</a> by Benzinga.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41794596/bitcoin-ethereum-dogecoin-slingshot-to-the-moon-after-trump-victory-but-sharp-correction-m?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin, Ethereum, Dogecoin Slingshot To The Moon After Trump Victory But &#8216;Sharp&#8217; Correction Might Be In Store: Analyst Views BTC Between $80-90K By End Of Year</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>

Equities

DKNG

PINS

RIVN

TSLA

Rivian, Draftkings, Block, Pinterest, And Tesla: Why These 5 Stocks Are On Investors' Radars Today

Wedbush Securities analyst Dan Ives predicts Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) could see significant gains under a potential second Donald Trump presidency, particularly in advancing its Full Self-Driving technology.
What Happened: Ives suggested Trump&#8217;s return to office could accelerate Tesla&#8217;s autonomous driving initiatives, in a Bloomberg TV interview, potentially unlocking what he <a href="https://www.benzinga.com/markets/equities/24/11/41794926/trump-white-house-could-unlock-trillion-dollar-ai-potential-for-tesla-says-dan-ives">estimates as $1 trillion in value</a>.
&#8220;Tesla and [Elon] Musk are the big winners in this Trump sweepstakes,&#8221; Ives said, pointing to possible regulatory fast-tracking of autonomous vehicle technology. He projects the deployment of &#8220;cyber cabs&#8221; could come as early as 2026 or 2027.
The analyst also indicated that a Trump presidency might lead to leadership changes at the Federal Trade Commission, noting that current FTC Chair Lina Khan&#8216;s potential departure could benefit big tech companies&#8217; merger and acquisition activities.
<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">Great to be on <a href="https://twitter.com/BloombergTV?ref_src=twsrc%5Etfw">@BloombergTV</a> with <a href="https://twitter.com/EdLudlow?ref_src=twsrc%5Etfw">@EdLudlow</a> <a href="https://twitter.com/CarolineHydeTV?ref_src=twsrc%5Etfw">@CarolineHydeTV</a> discussing Musk's major strategic bet on Trump and why this is very good news for Tesla looking forward <a href="https://twitter.com/business?ref_src=twsrc%5Etfw">@business</a> &#x1f525;&#x1f3c6;&#x1f402;&#x1f37f;&#x1f4fa;&#x1f447; <a href="https://t.co/zcR7YIc9C1">https://t.co/zcR7YIc9C1</a>
&mdash; Dan Ives (@DivesTech) <a href="https://twitter.com/DivesTech/status/1854650365095936398?ref_src=twsrc%5Etfw">November 7, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/news/large-cap/24/11/41826586/wall-street-closes-at-record-highs-after-reassurance-from-powell-magnificent-7-hit-17-trillion-tre">Wall Street Hits Record Highs After Powell&#8217;s Speech, Lifts Magnificent 7 Stocks To $17 Trillion In Historic Trading</a>
Why It Matters: Meanwhile, the stock market has also reacted positively to Trump&#8217;s victory, with Jim Cramer <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41798981/jim-cramer-calls-trumps-return-to-white-house-a-huge-win-for-the-stock-market">calling it a &#8216;huge win for the stock market&#8217;</a>. The conclusion of the election has brought relief to traders, who are now preparing for a Trump administration and its anticipated pro-business policies.
Price Action: Tesla&#8217;s stock closed at $296.91 on Thursday, up 2.9% for the day. In after-hours trading, it rose an additional 0.66%. Year-to-date, Tesla&#8217;s stock has climbed by 19.52%, 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/news/earnings/24/11/41825787/rivian-q3-earnings-highlights-revenue-eps-miss-ceo-confident-in-q4-gross-profit-r2-being-fundamenta">Rivian Q3 Earnings Highlights: Revenue, EPS Miss, CEO Confident In Q4 Gross Profit, R2 Being &#8216;Fundamental Driver&#8217; Of Growth</a></li>
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Image Via Shutterstock 
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Elon Musk Shines In 'Trump Sweepstakes:' A Big Win For Tesla? Dan Ives Thinks So

Detroit is set to become the first major U.S. city to accept cryptocurrency for taxes and other city fees, top officials from the city said in a Thursday press release.
What Happened: Residents would have the option to use cryptocurrencies to pay for utilities through a secure platform managed by PayPal. This initiative was part of a broader strategy to tap blockchain technology to enhance public services and boost civic engagement in the city.
&#8220;Detroit is fostering a technology-friendly environment that empowers residents and entrepreneurs,&#8221; said Detroit Mayor Mike Duggan. &#8220;We are thrilled to be among the first major U.S. cities to explore blockchain&#8217;s civic applications and offer residents the option to use cryptocurrency for payments.&#8221;
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41821360/can-blockchain-improve-cross-border-payments-without-regulatory-roadblocks">Can Blockchain Improve Cross-Border Payments Without Regulatory Roadblocks?</a>
The new payment option is projected to be available by mid-2025, Treasurer Nikhil Patel added. The city would also encourage blockchain innovators to propose their ideas for civic applications to Justin Onwenu, Detroit's first Director of Entrepreneurship and Economic Opportunity.
Williston in North Dakota and Miami Lakes in Florida are the cities that accept cryptocurrencies for utility bill payments, while <a href="https://www.benzinga.com/markets/cryptocurrency/22/03/26357488/in-colorado-you-can-pay-taxes-in-crypto-will-other-states-follow">Colorado </a>and Utah allow their residents to pay state taxes using digital assets.
Why It Matters: Detroit&#8217;s move to accept cryptocurrency payments aligns with the state of Michigan&#8217;s growing interest in cryptocurrencies. 
According to a recent SEC filing, the <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41723555/michigan-pension-fund-invests-10m-in-ethereum-etfs-exceeds-bitcoin-holdings">Michigan State Pension Fund invested $10 million</a> in Grayscale Ethereum Trust ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ETHE#NYSE">ETHE</a>), the largest Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) exchange-traded fund (ETF) as of this writing.
In doing so, it surpassed its $7 million allocation in Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) ETFs. 
Earlier in May, the <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/39006923/university-of-michigan-endowment-increases-its-crypto-investments-follows-harvard-and-yale">University of Michigan&#8217;s endowment increased its investments in cryptocurrency</a>, following the footsteps of Harvard and Yale. The university invested in a crypto fund from Andreessen Horowitz, indicating a growing acceptance of digital currencies among large funds and endowments.
Photo: Linda Parton/Shutterstock.com
Read Next: 
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41823388/the-trump-effect-a-deep-dive-into-how-the-crypto-landscape-will-change-in-2025-and-beyond">The Trump Effect: A Deep Dive Into How The Crypto Landscape Will Change In 2025 And Beyond</a></li>
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Disclaimer:&nbsp;This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.<a href="https://www.benzinga.com/apis?utm_source=benzinga.com&amp;utm_campaign=article-bottom" rel="noreferrer noopener" target="_blank"></a>

ETHE

Detroit Becomes First Major US City To Accept Taxes And Fees In Crypto; Mayor Says, 'Fostering a Technology-Friendly Environment'

Leading economists offered contrasting views on Thursday after the Federal Reserve&#8217;s 25-basis-point rate cut, with some warning of persistent inflation risks while others supported the <a href="https://www.benzinga.com/news/large-cap/24/11/41826586/wall-street-closes-at-record-highs-after-reassurance-from-powell-magnificent-7-hit-17-trillion-tre">central bank&#8217;s gradual easing approach</a>.
What Happened: Jason Furman, a key figure in 44th U.S. President Barack Obama&#8217;s administration expressed skepticism about the Fed&#8217;s balanced risk assessment, pointing to concerning inflation indicators. 
&#8220;Core PCE inflation is 2.7% (above target),&#8221; Furman noted on X, warning that inflation could climb to &#8220;2.8% or possibly even 2.9%.&#8221; He suggested this trend could complicate the Fed&#8217;s planned rate reduction schedule unless labor markets weaken significantly.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">In most predictable event of the week, the Fed cut by 25bp. Monetary policy is going from very contractionary to reasonably contractionary. Makes sense given that inflation risks much lower than before but are still (contra the committee statement) higher than recession risks.
&mdash; Jason Furman (@jasonfurman) <a href="https://twitter.com/jasonfurman/status/1854604354738913596?ref_src=twsrc%5Etfw">November 7, 2024</a></blockquote>
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Economist Peter Schiff delivered sharp criticism of Fed Chair Jerome Powell&#8216;s inflation-targeting strategy, citing structural challenges. 
&#8220;The Fed cut interest rates by 25 basis points, claiming they&#8217;re confident they&#8217;ll achieve their long-term inflation target of 2%,&#8221; Schiff wrote on X. &#8220;Powell can&#8217;t possibly believe that, considering a $36 trillion National Debt and the prospect of 2025 tax cuts sending demand and deficits soaring.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The <a href="https://twitter.com/hashtag/Fed?src=hash&amp;ref_src=twsrc%5Etfw">#Fed</a> cut interest rates by 25 basis points, claiming they're confident they&#39;ll achieve their long-term <a href="https://twitter.com/hashtag/inflation?src=hash&amp;ref_src=twsrc%5Etfw">#inflation</a> target of 2%. <a href="https://twitter.com/hashtag/Powell?src=hash&amp;ref_src=twsrc%5Etfw">#Powell</a> can't possibly believe that, considering a $36 trillion <a href="https://twitter.com/hashtag/NationalDebt?src=hash&amp;ref_src=twsrc%5Etfw">#NationalDebt</a> and the prospect of 2025 tax cuts sending demand and deficits soaring.
&mdash; Peter Schiff (@PeterSchiff) <a href="https://twitter.com/PeterSchiff/status/1854610617828884617?ref_src=twsrc%5Etfw">November 7, 2024</a></blockquote>
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Wells Fargo struck a more moderate tone, with strategist Luis Alvarado <a href="https://x.com/yahoofinance/status/1854542364607447185?s=46">telling</a> Yahoo Finance they expect &#8220;another [cut] in December,&#8221; while maintaining flexibility about 2025 policy adjustments.
Why It Matters: The Fed&#8217;s decision, which lowered rates to 4.5%-4.75%, came amid robust economic indicators including 2.8% second-quarter GDP growth. Powell dismissed October&#8217;s weak employment data as temporary, citing strikes and weather disruptions.
Markets responded modestly to the day&#8217;s events, with the U.S. Dollar Index dipping 0.07% to 104.44 and the 10-year Treasury yield inching up to 4.353%.
The SPDR S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) closed at $595.61, up 0.77%, with a modest after-hours increase of 0.02%. The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) finished at $236.38, down 0.35%, though it rose 0.15% in after-hours trading.
The S&amp;P 500 gained 0.74%, reaching a record high of 5,973.10, while the Nasdaq advanced 1.51% to 19,269.46, marking its first close above 19,000. The Dow Jones Industrial Average was largely unchanged, ticking down by less than one point to end at 43,729.34.
S&amp;P 500, Dow, and Nasdaq 100 futures were flat. On the currency front, the Japanese Yen held steady at $0.0065, while the Euro slipped by 0.11% to $1.0788.
Read Next: 
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<li><a href="https://www.benzinga.com/news/large-cap/24/11/41826586/wall-street-closes-at-record-highs-after-reassurance-from-powell-magnificent-7-hit-17-trillion-tre">Wall Street Hits Record Highs After Powell&#8217;s Speech, Lifts Magnificent 7 Stocks To $17 Trillion In Historic Trading</a></li>
</ul>
Federal Reserve illustration created using artificial intelligence via MidJourney.
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Economics

Federal Reserve

Obama-Era Economist Jason Furman Warns Fed's Inflation Outlook May Be Too Optimistic — Peter Schiff Slams Powell's Strategy Amid National Debt Concerns

On Thursday, Cathie Wood-led Ark Invest made significant trades, with Palantir Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>), Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), Reddit Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RDDT#NYSE">RDDT</a>), and Amazon.com, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) taking center stage.
The Palantir Trade
Ark Invest&#8217;s move to sell Palantir shares comes amid a tumultuous day for the company. <a href="https://www.benzinga.com/news/24/11/41808861/whats-going-on-with-palantir-stock-thursday">Palantir&#8217;s shares</a> experienced a rollercoaster ride, initially dipping due to a downgrade from Jefferies, only to bounce back following an announced partnership with Amazon Web Services (AWS) and Anthropic.
Despite Jefferies analyst Brent Thill downgrading Palantir from a Hold rating to an Underperform rating due to valuation concerns, the company&#8217;s stock has seen a surge of over 220% since the start of the year. This includes a 30% increase in just the past week, largely driven by strong quarterly results fueled by &#8220;unrelenting&#8221; AI demand.
Ark offloaded 264,513 Palantir shares on Thursday through its ARK Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKK#NYSE">ARKK</a>) and Ark Fintech Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKF#NYSE">ARKF</a>) funds, with the transaction valued at $14.8 million based on a closing share price of $55.88.
The Tesla Trade
Ark sold 85,019 shares of Elon Musk-led Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>). Wood has been on a Tesla share-selling spree of late. The latest transaction, which came through ARKK, was valued at $25.24 million.
Wood&#8217;s firm estimates that Tesla&#8217;s driverless ride-hailing service could <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41593922/cathie-woods-ark-invest-sees-tesla-unlocking-11-trillion-revenue-potential-with-rob">access an $11 trillion revenue</a> market by leveraging low operating costs to undercut existing ride-hailing prices. Tesla plans to debut this service next year in Texas and California, starting with drivers and aiming for fully autonomous rides as regulations allow.
The Reddit Trade
Ark Invest&#8217;s trade with Reddit comes at a time when the company is making significant strides in the social media space. Reddit&#8217;s market cap <a href="https://www.benzinga.com/general/social-media/24/11/41773982/reddit-overtakes-snap-in-market-value-after-election-day-rally">recently surpassed</a> that of Snap Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNAP#NYSE">SNAP</a>), reaching $21.5 billion after a 12% climb on Election Day. This is a notable achievement for the social media platform operator, which has a user base and revenue one-fourth the size of Snap&#8217;s.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41763537/bitcoin-hits-71k-ethereum-dogecoin-surge-as-results-trickle-in-for-trump-harris-presidenti?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin Hits $71K, Ethereum, Dogecoin Surge As Results Trickle In For Trump-Harris Presidential Battle: Analyst Predicts &#8216;Kickstart Of The Bull Market&#8217;</a>
Reddit&#8217;s growing popularity as a source of authentic information is also posing a challenge to Google&#8217;s dominance in the internet search market. This trend was highlighted at a recent conference hosted by The Wall Street Journal, where a journalist revealed she primarily uses Google Search to access Reddit for information.
The Wood-led firm sold 62,389 Reddit shares from its ARK Next Generation Internet ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKW#NYSE">ARKW</a>) fund on Thursday, a transaction valued at $8.2 million. Reddit shares closed the day 8.6% higher at $131.44.
The Amazon.com Trade
Ark Invest&#8217;s decision to purchase Amazon shares comes at a time when insiders at the e-commerce giant have been <a href="https://www.benzinga.com/markets/equities/24/11/41763411/jeff-bezos-sells-214m-worth-of-amazon-shares-in-latest-stock-move-heres-how-much-he-still-owns">selling off their shares</a>. According to a recent Benzinga report, Jeff Bezos, Amazon&#8217;s executive chair, <a href="https://www.benzinga.com/markets/equities/24/11/41763411/jeff-bezos-sells-214m-worth-of-amazon-shares-in-latest-stock-move-heres-how-much-he-still-owns">recently sold</a> 1.07 million shares of Amazon stock at $200.07 per share, raking in approximately $213.8 million. This left Bezos with 926.41 million shares of Amazon.
Bezos was not the only Amazon insider selling shares. Recently, director Jonathan Rubinstein also offloaded $1 million worth of shares, while Douglas Herrington, CEO of Worldwide Amazon Stores, sold $696,360 worth of Amazon shares.
Ark acquired 150,675 Amazon shares through its ARKK fund, a transaction valued at $31.6 million. Amazon's stock closed Thursday at $210.16, up 1.5%. Other Key Trades:
<ul>
<li>Ark purchased shares of 10X Genomics Inc. (TXG) and sold shares of Moderna Inc (MRNA).</li>
<li>The firm picked up shares of Illumina Inc. (ILMN), ABSCI Corp (ABSI), and Guardant Health Inc. (GH) but sold shares of Unity Software Inc. (U), Sofi Technoliogies Inc. (SOFI), and Repare Therapeutics Inc. (RPTX).</li>
</ul>
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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>

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Cathie Wood's Tech Rotation: Amazon Mega-Buy While Tesla, Reddit And Palantir Get Axed

Green Thumb Industries Inc. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/GTBIF#OTC">GTBIF</a>) (CSE:<a class="ticker" href="https://www.benzinga.com/stock/GTII#CSE">GTII</a>), a <a href="http://benzinga.com/cannabis">cannabis</a> consumer packaged goods company with headquarters in Chicago and owner of RISE Dispensaries, announced its financial results Thursday for the third quarter ended September 30, 2024.
<h4 class="wp-block-heading">Q3 2024 Financial Highlights</h4>
<ul>
<li>Revenue reached $287 million, marking a 4% increase from the previous year.</li>
<li>Net income was $8.6 million or $0.04 per basic and diluted share, compared to net income of $10.5 million, or income of $0.05 per basic and diluted share in the prior year period.</li>
<li>Adjusted EBITDA came in at $89.2 million, representing 31.1% of revenue, up from $83.0 million or 30.1% in Q3 2023.</li>
<li>Gross profit totaled $147.6 million, up from $133.8 million or 48.6% year-over-year.</li>
</ul>
<h3 class="wp-block-heading">Cash Flow And Cost Management Gains</h3>
Green Thumb's operational strategies also strengthened profitability. The company posted a gross profit of $147.6 million, representing 51.4% of revenue. This margin reflects effective cost management despite ongoing price pressures in certain markets. Total cash flow from operations for the first nine months of 2024 reached $152 million, net of $88 million in tax payments.
<ul>
<li>Get Benzinga&#8217;s exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter <a href="https://newsletteremail.benzinga.com/subscribe">here</a>. If you&#8217;re serious about the business, you can&#8217;t afford to miss out.</li>
</ul>
Financially, Green Thumb <a href="https://www.benzinga.com/markets/cannabis/24/09/40834346/cannabis-giant-green-thumb-secures-150m-credit-facility-strengthens-our-already-clean-balance-sh">secured a five-year, $150 million credit facility</a>, strengthening its liquidity and enabling the retirement of $225 million in senior secured debt due in April 2025. Furthermore, the company <a href="https://www.benzinga.com/markets/cannabis/24/09/40876634/cannabis-giant-green-thumb-confirms-50m-share-repurchase-program-ceo-open-to-m-a-and-unique-inve">authorized a $50 million share repurchase program</a>, allowing it to buy back subordinate voting shares through September 2025.
<h3 class="wp-block-heading">Management Commentary</h3>
Green Thumb CEO Ben Kovler highlighted the company's "impressive results" and noted the strategic impact of a new $150 million loan facility. He <a href="https://www.globenewswire.com/news-release/2024/11/07/2977105/0/en/Green-Thumb-Industries-Reports-Third-Quarter-2024-Results.html">said</a> the funding enables Green Thumb to retire its previous debt early, strengthening its balance sheet and supporting its brand-building focus as it continues to expand in the U.S. cannabis market.
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/11/41793174/cannabis-stocks-collapse-after-trump-win-major-players-see-double-digit-declines-at-wednesdays-c">Cannabis Stocks Collapse After Trump Win: Major Players See Double-Digit Declines At Wednesday&#8217;s Close</a>
"As we begin our second decade as a company, we are even more confident in the future of cannabis in America as a means for well-being, and America needs a healthy dose of well-being now more than ever," added Kovler.
<h3 class="wp-block-heading">Green Thumb Expands Dispensary Network, Eyes Continued U.S. Growth</h3>
Beyond financial maneuvers, Green Thumb continued its retail expansion with the opening of four new RISE dispensaries in Q3: three in Florida and one in New York. These additions bring Green Thumb's footprint to 21 dispensaries in Florida and 99 locations nationwide, broadening its access to a growing market of medical and recreational cannabis consumers. In addition, <a href="https://www.benzinga.com/markets/cannabis/24/09/40742561/ohios-cannabis-sales-reach-44m-as-new-customers-just-keep-coming-and-demand-is-not-slowing">the company launched legal cannabis sales across its Ohio</a> RISE dispensaries.
With an expanding retail presence and a reinforced balance sheet, Green Thumb's leadership says it is optimistic. &#8220;We look forward to meeting the patient community and our new neighbors at our upcoming grand opening event on December 13, where we will support the local organization Florida Rights Restoration Coalition (FRRC),&#8221; <a href="https://www.globenewswire.com/news-release/2024/11/07/2976508/0/en/Green-Thumb-Expands-Florida-Retail-Footprint-with-the-Opening-of-RISE-Orlando-on-Good-Homes-Road-on-November-8.html">said</a> Green Thumb president Anthony Georgiadis, signaling confidence in the company's continued growth amid the evolving U.S. cannabis landscape.
GTBIF Price Action GTBIF's shares were trading 3.51% higher at $9.25 per share at market close on Thursday.
Read Next:
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<li><a href="https://www.benzinga.com/markets/cannabis/24/11/41823267/cannabis-stocks-is-it-time-to-buy-the-dip-after-elections-and-legalization-setbacks">Cannabis Stocks: Is It Time To Buy The Dip After Elections And Legalization Setbacks?</a></li>
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Green Thumb Grows Revenue To $287M In Q3, Expands Cannabis Retail Network

Bitcoin tapped an all-time high, and Ethereum soared as the Federal Reserve's <a href="https://www.benzinga.com/economics/macro-economic-events/24/11/41820253/fed-cuts-interest-rates-to-lowest-since-february-2023-sticks-to-data-driven-path">latest quarter-point rate cut</a> boosted market momentum on Thursday.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 7:30 p.m. ET)</td>
</tr>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>+1.46%</td>
<td>$76,365.42</td>
</tr>
<tr>
<td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>+8.52%</td>
<td>$2,938.85</td>
</tr>
<tr>
<td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>-0.92%</td>
<td>$0.1943</td>
</tr>
</tbody>
</table>
</figure>
What Happened: The world's largest cryptocurrency hit a new all-time high at $76,872.61, barely two days after creating records on the day of the U.S. presidential election.
Ethereum powered above $2,900 for the first time in more than three months in a late-evening rally.
Bitcoin's market dominance rose above 60%, following a 3.44 percentage point gain in the last 24 hours, while Ethereum also saw a minor increase in market share.
In the past 24 hours, 89,458 traders were liquidated, with the total liquidations coming in at $311.71 million. Short-leveraged traders saw $186 million worth of their positions evaporate in the rally.
Bitcoin's Open Interest rose 2.88%, indicating an influx of fresh money in the derivatives market.
Bitcoin's Relative Strength Index (RSI) went into the overbought territory, as per TradingView, strengthening the case of a pullback.
That said, market sentiment cooled from "Extreme Greed" to "Greed," as per the Cryptocurrency Fear and Greed Index.
Top Gainers (24-Hours)
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 7:30 p.m. ET)</td>
</tr>
<tr>
<td>Raydium (RAY)</td>
<td>+14.24%</td>
<td>$4.82</td>
</tr>
<tr>
<td>Cardano (ADA)</td>
<td>+13.49%</td>
<td>$0.4133</td>
</tr>
<tr>
<td>Mantle (MNT)</td>
<td>+13.17%</td>
<td>$0.6774</td>
</tr>
</tbody>
</table>
</figure>
The global cryptocurrency stood at $2.5 trillion, following a marginal contraction of 0.57% in the last 24 hours.
Stocks extended their winning streak on Thursday. The S&amp;P 500 gained 0.74% to close at a new record high of 5,973.10. The tech-heavy Nasdaq Composite added 1.51% to end at 19,269.46, marking its first close above 19,000.
The Dow Jones Industrial Average traded near the flatline, dropping just 0.59 points to 43,729.34.
The upswing followed the <a href="https://www.benzinga.com/economics/macro-economic-events/24/11/41820253/fed-cuts-interest-rates-to-lowest-since-february-2023-sticks-to-data-driven-path">Fed's 0.25 percentage point cut</a>, bringing the federal funds rate to a target range of 4.5% to 4.75%, the lowest since February 2023.
Fed Chair Jerome Powell hinted at the <a href="https://www.benzinga.com/news/large-cap/24/11/41826586/wall-street-closes-at-record-highs-after-reassurance-from-powell-magnificent-7-hit-17-trillion-tre">possibility of more easing in the future</a> but refrained from signaling a specific rate cut at the December meeting, stressing a data-dependent approach.
See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>
Analyst Notes: Popular cryptocurrency analyst Ali Martinez said that Bitcoin can hit a local top of $85,360 if it maintains support above $71,489, according to the MVRV Deviation Pricing Bands.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">If <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> maintains support above $71,489, the next local top could be around $85,360, based on the MVRV Deviation Pricing Bands. <a href="https://t.co/ilvzI5iNPO">pic.twitter.com/ilvzI5iNPO</a>
&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1854659596285043004?ref_src=twsrc%5Etfw">November 7, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Martinez also drew attention to the impending "altcoin season."&nbsp;
"This could be the ideal time to stack up on altcoins, as history shows that altseason often follows shortly after," the analyst added, referring to the ongoing dominance of Bitcoin.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Altseason hasn't even begun! We're in that part of the cycle where <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> is still outpacing <a href="https://twitter.com/hashtag/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw">#Ethereum</a>—totally normal at this stage. This could be the ideal time to stack up on altcoins, as history shows that altseason often follows shortly after. <a href="https://t.co/jxANVYk8kt">pic.twitter.com/jxANVYk8kt</a>
&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1854623178523328901?ref_src=twsrc%5Etfw">November 7, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Widely-followed cryptocurrency analyst, going by the pseudonym Wolf dubbed Ethereum as the "best" risk/reward asset in the cryptocurrency market.
"The fundamentals have never been stronger, and technically, it's incredibly undervalued. The chart is looking bullish as ever, and with ground to catch up against BTC and SOL," the analyst added.
Read Next:&nbsp;&nbsp;&nbsp;&nbsp;
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$DOGE

Bitcoin, Ethereum Rise, Dogecoin Steady After Fed Cuts Rate: Analyst Predicts Apex Crypto's Next Local Top At $85.4K If This Happens

Amazon.com, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) is reportedly contemplating its second multi-billion-dollar investment in&nbsp;artificial intelligence startup&nbsp;Anthropic, which leverages its cloud services for training.
What Happened: Following its <a href="https://www.benzinga.com/m-a/24/09/41067395/amazons-partnership-with-jeff-bezos-backed-anthropic-gets-green-signal-from-uk-competition-watchdog">initial $4 billion investment</a> last year, the e-commerce giant is now planning investment&nbsp;in the startup co-founded by former OpenAI executives Dario and Daniela Amodei, <a href="https://www.theinformation.com/articles/amazon-discussing-new-multibillion-dollar-investment-in-anthropic">reported</a> The Information, citing a person familiar with the discussion.
The Andy Jassy-led company has reportedly asked Anthropic to use a significant&nbsp;number of servers powered by&nbsp;chips developed by the cloud&nbsp;computing giant.
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/09/40893054/mark-cuban-says-he-would-buy-rupert-murdochs-fox-news-and-elon-musks-x-but-there-are-some-obstacles?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mark Cuban Says He Would Buy Rupert Murdoch&#8217;s Fox News And Elon Musk&#8217;s X But There Are Some Obstacles: &#8216;If I Had Enough… I&#8217;d Buy It In A Heartbeat&#8217;</a>
However, Anthropic reportedly prefers to use Amazon servers powered by Nvidia Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) designed AI chips.
Last year, Anthropic&nbsp;also secured a $500 million investment&nbsp;from Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>), which pledged to invest an additional $1.5 billion over time.
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: Amazon&#8217;s initial&nbsp;<a href="https://www.benzinga.com/news/24/08/40255295/amazons-4b-stake-in-anthropic-under-uk-investigation-for-anti-competitive-concerns">$4 billion investment</a>&nbsp;in Anthropic faced scrutiny from U.K. regulators over anti-competitive concerns.
Last month, U.K. antitrust officials also launched an investigation into whether Alphabet Inc.&#8217;s investment in AI startup Anthropic could stifle competition.
Meanwhile, AI startups have been attracting significant investments. OpenAI&#8217;s valuation&nbsp;<a href="https://www.benzinga.com/news/24/10/41149788/openai-valuation-soars-to-157b-in-latest-funding-round">soared to $157 billion</a>&nbsp;following a funding round.
Perplexity, backed by Amazon founder Jeff Bezos, also reportedly saw its valuation triple to<a href="https://www.benzinga.com/news/24/11/41764081/jeff-bezos-backed-ai-startup-perplexity-set-to-triple-valuation-to-9b-in-fourth-funding-round-can-it"> $9 billion in its fourth funding</a> round.
Price Action: Amazon shares closed Thursday's session up 1.48% at $210.16. In after-hours trading, the tech giant's shares rose slightly further, reaching $210.27 at the time of writing, according to <a href="https://www.benzinga.com/pro/?utm_source=BZprocontent110524&amp;t=be2bearmibe3na1">Benzinga Pro data</a>.
Photo: gguy/Shutterstock.com
Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
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Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

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After OpenAI And Perplexity, AI Startup Anthropic May Secure Another Massive Investment — Amazon Reportedly Considers Major Funding

Why allow intermediaries to add unnecessary costs when direct relationships can bring quality to the forefront? As supply chains tighten across industries, Red Mesa Science &amp; Refining is pioneering a streamlined approach to bring minor cannabinoids to market.&nbsp;
By bypassing brokers and relying on an efficient, around-the-clock refinement process, Red Mesa aims to reduce costs, ensure product consistency and empower the true stewards of hemp &#8211; the growers and refiners themselves. 
Jeff Applegate, Red Mesa's president, puts it simply. "Collaborating directly with qualified, experienced farmers and extractors is essential to keeping costs low and quality high." It's a model that prioritizes trust and accountability within every step of the supply chain.
<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>
<h2 class="wp-block-heading">Leverage Instead Of Liability</h2>
Applegate detailed how brokers often disrupt the hemp supply chain by imposing additional costs, sometimes up to 15%, which can hinder farmer&#8217;s profits and drive up expenses for manufacturers, creating an unsustainable model for both sides.
Red Mesa has strategically positioned itself within the cannabinoid supply chain to minimize intermediaries and maintain competitive production costs. "Keeping production costs low is fundamental to industry success," Applegate told Benzinga Cannabis in an exclusive interview. "Collaborating directly with farmers and extractors in a cohesive supply chain is essential to keep our cost of input as a leverage instead of a liability."
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="590" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/07165714/In-proces-testing-Bulk-CBD-Isolate-Red-Mesa-Science-and-Refining-copy-1024x590.jpg" alt="" class="wp-image-636416" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/07165714/In-proces-testing-Bulk-CBD-Isolate-Red-Mesa-Science-and-Refining-copy-1024x590.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/07165714/In-proces-testing-Bulk-CBD-Isolate-Red-Mesa-Science-and-Refining-copy-300x173.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/07165714/In-proces-testing-Bulk-CBD-Isolate-Red-Mesa-Science-and-Refining-copy-768x442.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/07165714/In-proces-testing-Bulk-CBD-Isolate-Red-Mesa-Science-and-Refining-copy-1536x884.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/07165714/In-proces-testing-Bulk-CBD-Isolate-Red-Mesa-Science-and-Refining-copy.jpg 1876w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">In-proces testing Bulk CBD Isolate Red Mesa Science and Refining. </figcaption></figure>
"We're seeing less interference now, but reducing reliance on brokers is essential for a cost-effective system. The farmer and the customer need to be directly tied to one another so the farmer gets a fair return," he explained.&nbsp;
<h3 class="wp-block-heading">Not An Easy Crop</h3>
Sourcing consistent and affordable raw materials has presented a challenge as the hemp industry matures. Applegate explained that an initial oversupply in 2019 led to a rapid decline in hemp farming as prices plummeted. 
"There was an abundance of farmers when the 2018 farm bill was put into place," he said. "The market, the producers, wasn't sufficiently equipped to take all of the output that came. Since 2019, we've had nothing but a declining number of farmers."
"It's not an easy crop to grow at all," Applegate added, noting that hemp requires extensive processing before it can be used in extraction. This contrasts with the cannabis flower market, where crops can be more directly sold.
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>
<h2 class="wp-block-heading">Inside Red Mesa&nbsp;</h2>
Red Mesa's facility in Utah was initially a cabinet shop before being repurposed for hemp refinement. With its high power capacity &#8211; essential for their machinery &#8211; the location proved ideal. 
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="665" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/07165821/Liquid-Chromatography-Red-Mesa-Science-and-Refining-for-CBD-CBG-CBN-CRD-Isolates-and-Distillates-1024x665.jpg" alt="" class="wp-image-636418" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/07165821/Liquid-Chromatography-Red-Mesa-Science-and-Refining-for-CBD-CBG-CBN-CRD-Isolates-and-Distillates-1024x665.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/07165821/Liquid-Chromatography-Red-Mesa-Science-and-Refining-for-CBD-CBG-CBN-CRD-Isolates-and-Distillates-300x195.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/07165821/Liquid-Chromatography-Red-Mesa-Science-and-Refining-for-CBD-CBG-CBN-CRD-Isolates-and-Distillates-768x499.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/07165821/Liquid-Chromatography-Red-Mesa-Science-and-Refining-for-CBD-CBG-CBN-CRD-Isolates-and-Distillates-1536x998.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/07165821/Liquid-Chromatography-Red-Mesa-Science-and-Refining-for-CBD-CBG-CBN-CRD-Isolates-and-Distillates.jpg 1663w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Liquid Chromatography Red Mesa Science and Refining for CBD CBG CBN CRD Isolates and Distillates. </figcaption></figure>
Applegate described how the production process flows from crude oil intake to distillation. This is further refined through crystallization and chromatography. "In distillation, we have the finished product. It's usually a light yellow to golden color, thicker in viscosity than water, almost syrup-like when warm," he explained.
Once the distillate undergoes crystallization, Red Mesa is left with a white, fluffy powder—ready for B2B sale. "We didn't walk across the bridge to become a white labeler or finished goods company," he said. "Our goal is to create the most coveted, consistent outputs to win the market."
<h3 class="wp-block-heading">A Competitive Edge In Minor Cannabinoids</h3>
Red Mesa's botanical, non-synthetic refinement process sets it apart by isolating rare cannabinoids—such as CBN, CBT, and CBL—directly from hemp without chemical conversions.&nbsp;
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="557" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/07165933/Gate-1-Red-Mesa-Science-and-Refining--1024x557.jpg" alt="" class="wp-image-636421" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/07165933/Gate-1-Red-Mesa-Science-and-Refining--1024x557.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/07165933/Gate-1-Red-Mesa-Science-and-Refining--300x163.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/07165933/Gate-1-Red-Mesa-Science-and-Refining--768x418.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/07165933/Gate-1-Red-Mesa-Science-and-Refining--1536x836.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/07165933/Gate-1-Red-Mesa-Science-and-Refining-.jpg 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Gate 1 Red Mesa Science and Refining</figcaption></figure>
"Our botanical refining process generates final outputs derived directly from the hemp plant without the use of catalysts and acids required for chemical conversion processes," Applegate explained.
To achieve this, Red Mesa made substantial investments early on. "To be the first refiner to offer rare minors such as CBN, CBL, and CBT at kilogram scale, we had to make significant investments in large-scale chromatography very early in the company's history," Applegate noted. 
Read Also:<a href="https://www.benzinga.com/general/biotech/24/10/41394513/sold-out-before-hitting-shelves-why-did-ayr-wellness-snatch-up-this-local-cannabis-brand"> Sold Out Before Hitting Shelves: Why Did AYR Wellness Snatch Up This Local Cannabis Brand?</a>
<h3 class="wp-block-heading">The Red Mesa Standard: ISO Certification, And FDA Registration</h3>
&#8220;The Red Mesa Standard&#8221; represents a commitment to quality and consistency that Applegate says will set them apart. "We have an end-to-end certification from the beginning of our business to the end," he said, contrasting this with many industry peers who only certify specific departments. Additionally, Red Mesa voluntarily registers with the FDA as a food ingredient company, even though it's not required.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="422" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/07170058/Dual-Liquid-Chromatography-System-Refines-and-Purifies-CBN-Isolate-Botanical-CBN-Disitllate-Botanical-CBL-CBT-Red-Mesa-Science-and-Refining-copy-1024x422.jpg" alt="" class="wp-image-636425" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/07170058/Dual-Liquid-Chromatography-System-Refines-and-Purifies-CBN-Isolate-Botanical-CBN-Disitllate-Botanical-CBL-CBT-Red-Mesa-Science-and-Refining-copy-1024x422.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/07170058/Dual-Liquid-Chromatography-System-Refines-and-Purifies-CBN-Isolate-Botanical-CBN-Disitllate-Botanical-CBL-CBT-Red-Mesa-Science-and-Refining-copy-300x124.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/07170058/Dual-Liquid-Chromatography-System-Refines-and-Purifies-CBN-Isolate-Botanical-CBN-Disitllate-Botanical-CBL-CBT-Red-Mesa-Science-and-Refining-copy-768x316.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/07170058/Dual-Liquid-Chromatography-System-Refines-and-Purifies-CBN-Isolate-Botanical-CBN-Disitllate-Botanical-CBL-CBT-Red-Mesa-Science-and-Refining-copy-1536x633.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/07170058/Dual-Liquid-Chromatography-System-Refines-and-Purifies-CBN-Isolate-Botanical-CBN-Disitllate-Botanical-CBL-CBT-Red-Mesa-Science-and-Refining-copy.jpg 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Dual Liquid Chromatography System Refines and Purifies CBN Isolate &#8211; Botanical CBN Disitllate &#8211; Botanical CBL CBT Red Mesa Science and Refining.</figcaption></figure>
<h3 class="wp-block-heading">24/7</h3>
With operations currently running at about 45% of their <a href="https://www.youtube.com/watch?v=_lpxdoVtWow">50,000-square-foot facility</a>, Red Mesa is poised for growth. "We operate 24 hours a day, seven days a week," Applegate shared, adding that they gradually scaled up from single-shift days to continuous operation.
Looking forward, Red Mesa plans to enter the Japanese market in 2025 and establish regional distribution hubs to serve global customers.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="993" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/07170227/Crystal-Resistant-CBD-Distillate-Anti-Crystallization-CBD-Red-Mesa-Science-and-Refining-1024x993.jpg" alt="" class="wp-image-636429" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/07170227/Crystal-Resistant-CBD-Distillate-Anti-Crystallization-CBD-Red-Mesa-Science-and-Refining-1024x993.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/07170227/Crystal-Resistant-CBD-Distillate-Anti-Crystallization-CBD-Red-Mesa-Science-and-Refining-300x291.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/07170227/Crystal-Resistant-CBD-Distillate-Anti-Crystallization-CBD-Red-Mesa-Science-and-Refining-768x745.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/07170227/Crystal-Resistant-CBD-Distillate-Anti-Crystallization-CBD-Red-Mesa-Science-and-Refining.jpg 1114w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Crystal Resistant CBD Distillate Anti-Crystallization CBD Red Mesa Science and Refining</figcaption></figure>
While growth is a priority, so too is legislative reform. 
"The lack of clear rules for cannabinoid production is probably the biggest barrier we've seen to adoption. To bring prices down and make cannabinoids more accessible, we need efficient production coupled with thoughtful regulation," Applegate said. 
He emphasized that regulation and cost efficiency will help expand the market by making cannabinoids accessible to a wider consumer base.
Read Next:<a href="https://www.benzinga.com/general/biotech/24/08/40298228/think-you-can-do-it-all-20-000-reasons-why-automation-outperforms-a-broad-approach-in-cannabis"> Think You Can Do It All? 20,000 Reasons Why Automation Outperforms A Broad Approach In Cannabis</a>

Market Summary

Emerging Markets

Commodities

Success Stories

Exclusives

Interview

No Middleman, No Markup: How Red Mesa Is Slashing Costs With Around-The-Clock Hemp Refinement

Ethereum Classic (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/etc/usd">ETC</a>) has gained roughly 12% to $20.26 since Tuesday evening amid Donald Trump winning the <a href="https://www.benzinga.com/economics/macro-economic-events/24/11/41772701/trumps-historic-return-7-ways-his-second-term-could-impact-the-us-economy">2024 presidential election</a>.
Trump&#8217;s win, coupled with the Republican Party regaining Senate control, hints at a shift in U.S. economic policies, potentially involving corporate tax cuts, trade tariffs and measures to combat inflation—factors that could influence both traditional and digital markets.
What To Know: A key driver behind Ethereum Classic's rally is Trump's pro-crypto stance, including his vision of the U.S. becoming a <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40671868/trumps-bitcoin-strategic-reserve-proposal-will-chip-away-dollars-status-warns-expert-money">&#8220;Bitcoin superpower.&#8221;</a> This renewed focus on cryptocurrencies as a store of value and inflation hedge has sparked investor interest in digital assets like Ethereum Classic, seen as a secure alternative to newer, more volatile coins.
Trump's anticipated economic policies could increase inflation, with experts predicting up to a 2.4% rise, pushing investors toward cryptocurrencies as a way to safeguard against the dollar&#8217;s decline. 
Read Also: <a href="https://www.benzinga.com/news/large-cap/24/11/41826586/wall-street-closes-at-record-highs-after-reassurance-from-powell-magnificent-7-hit-17-trillion-tre">Wall Street Hits Record Highs After Powell&#8217;s Speech, Lifts Magnificent 7 Stocks To $17 Trillion In Historic Trading</a>
Ethereum Classic has also cultivated a strong following due to its decentralized nature and its adherence to the original Ethereum vision. As retail investors seek safe havens from economic uncertainty, the coin's appeal could grow in an environment marked by rising inflation fears.
As the digital asset market continues to mature, the convergence of regulatory shifts, M&amp;A activities, and adoption trends will define the future of this dynamic field. <a href="https://www.benzinga.com/digital-assets" target="_blank" rel="noreferrer noopener">Benzinga&#8217;s Future of Digital Assets</a> event in New York City this November will provide industry leaders and investors with a platform to explore these developments further, offering insights into the evolving regulatory environment and the latest market dynamics.

$ETC

What's Going On With Ethereum Classic?

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

LIPO

In the wake of Donald Trump's <a href="https://www.benzinga.com/economics/macro-economic-events/24/11/41772701/trumps-historic-return-7-ways-his-second-term-could-impact-the-us-economy">2024 presidential win</a>, Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>) has jumped 10% since Wednesday to reach $0.00001944.
Trump's victory, combined with the Republican Party's return to a Senate majority, signals a potential shift in U.S. economic policy that includes corporate tax cuts, high tariffs and an aggressive stance on inflation—factors that could reshape traditional and digital asset markets alike.
What To Know: A key driver of SHIB&#8217;s surge is Trump's pro-crypto stance, marked by his vision of the U.S. as a <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40671868/trumps-bitcoin-strategic-reserve-proposal-will-chip-away-dollars-status-warns-expert-money">"Bitcoin superpower."</a> Trump's proposal to incorporate Bitcoin into a national reserve has sent ripples through the crypto space, igniting excitement among investors who see digital assets as hedges against economic uncertainty. 
Trump's anticipated policies could stoke inflationary pressures, with JPMorgan analysts projecting up to a <a href="https://www.benzinga.com/economics/macro-economic-events/24/11/41772701/trumps-historic-return-7-ways-his-second-term-could-impact-the-us-economy">2.4% rise in inflation</a> if trade tariffs are fully enacted. In such an environment, investors often look to alternative assets like cryptocurrencies as protection against the dollar's decline. 
Shiba Inu, with its low entry price and high volatility, is a popular speculative asset among retail investors seeking both growth potential and a potential hedge against macroeconomic risks.
Read Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41825733/could-micas-passport-system-open-doors-across-europe-for-crypto-exchanges">Could MiCA&#8217;s Passport System Open Doors Across Europe For Crypto Exchanges?</a>
Shiba Inu was created as an Ethereum-based alternative to Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>), branding itself as the "Dogecoin killer." Both coins share a meme-inspired appeal, drawing in retail investors with their playful branding and community-driven support.
As the digital asset market continues to mature, the convergence of regulatory shifts, M&amp;A activities, and adoption trends will define the future of this dynamic field. <a href="https://www.benzinga.com/digital-assets" target="_blank" rel="noreferrer noopener">Benzinga's Future of Digital Assets</a> event in New York City this November will provide industry leaders and investors with a platform to explore these developments further, offering insights into the evolving regulatory environment and the latest market dynamics.

$SHIB

What's Going On With Shiba Inu (SHIB)?

Claros Mortgage Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMTG#NYSE">CMTG</a>) reported quarterly earnings of $0.22 per share which beat the analyst consensus estimate of $0.10 by 120 percent. The company reported quarterly sales of $64.877 million which beat the analyst consensus estimate of $57.180 million by 13.46 percent. This is a 19.46 percent decrease over sales of $80.553 million the same period last year.

Earnings Beats

CMTG

Claros Mortgage Trust Q3 2024 Adj. EPS $0.22 Beats $0.10 Estimate, Sales $64.877M Beat $57.180M Estimate

Cibus (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CBUS#NASDAQ">CBUS</a>) reported quarterly earnings of $0.06 per share which beat the analyst consensus estimate of $(0.90) by 106.67 percent. The company reported quarterly sales of $1.667 million which beat the analyst consensus estimate of $611.000 thousand by 172.83 percent. This is a 250.95 percent increase over sales of $475.000 thousand the same period last year.

CBUS

Cibus Q3 2024 Adj. EPS $0.06 , Sales $1.667M Beat $611.000K Estimate

President-elect Donald Trump has appointed his campaign leader, Susie Wiles, as his chief of staff. This marks the first time in US history that a woman has been appointed to this influential position.
What Happened: Wiles, a seasoned GOP operative from Florida, will assume her new role when Trump takes office in January. Trump lauded Wiles for her pivotal role in his successful 2016 and 2020 campaigns, <a href="https://thehill.com/homenews/4979786-susie-wiles-chief-of-staff/">reported</a> The Hill.
&#8220;Susie is tough, smart, innovative, and is universally admired and respected. Susie will continue to work tirelessly to Make America Great Again,&#8221; said Trump, reported The Hill.
He said, &#8220;It is a well deserved honor to have Susie as the first-ever female Chief of Staff in United States history. I have no doubt that she will make our country proud.&#8221;
Wiles, known for her low-profile approach, spearheaded Trump&#8217;s Florida operations during the 2016 campaign and later collaborated with Ron DeSantis (R) on his gubernatorial campaign. However, she left DeSantis&#8217;s team due to escalating tensions.
The chief of staff role, second only to the president in terms of influence, will see Wiles managing Trump and his team, a task that proved challenging during his first term. Trump&#8217;s initial choice for the role, Reince Priebus, was replaced after six months by John Kelly, who later became a vocal critic of Trump.
See Also: <a href="https://www.benzinga.com/news/24/11/41710411/market-analyst-who-predicted-trumps-2016-win-and-bidens-2020-victory-now-sees-former-president-retak?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Market Analyst Who Predicted Trump&#8217;s 2016 Win And Biden&#8217;s 2020 Victory, Now Sees Former President Retaking The White House With &#8216;Large Majority Of Swing States&#8217;</a>
Why It Matters: Wiles&#8217; appointment comes on the <a href="https://www.benzinga.com/news/24/11/41766547/trump-gives-victory-speech-in-florida-as-winning-pennsylvania-puts-him-at-brink-of-victory-vows-to-f">heels of Trump&#8217;s victory</a> in the 2024 presidential election. Trump&#8217;s win, which he described as &#8220;the greatest political movement of all time,&#8221; was followed by a <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41807254/trump-election-raises-odds-of-roaring-2020s-scenario-veteran-wall-street-investor-s">surge in the U.S. stock market</a>, with analysts predicting a new &#8220;Roaring 2020s&#8221; scenario.
On Wednesday, after Trump won the election, the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) shot up 2.5% to establish new record highs. The small-caps fund iShares Russell 2000 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) spiked 5.8%.
However, Trump also hinted at a <a href="https://www.benzinga.com/general/biotech/24/11/41822473/trumps-potential-health-czar-robert-f-kennedy-jr-rattles-vaccine-stocks-shoot-first-reaction">potential senior role</a> for Robert Kennedy Jr. to advance his &#8220;Make America Healthy Again&#8221; agenda, causing uncertainty in pharmaceutical stocks.
With Wiles at the helm as chief of staff, it remains to be seen how these developments will unfold and shape the course of Trump&#8217;s second term in office.
Did You Know?
<ul>
<li>Congress Is Making Huge Investments. <a href="https://www.benzinga.com/gov-trades">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</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>

Politics

General

Trump Appoints Susie Wiles As First Woman Chief Of Staff In US History, Calls Her Tough, Smart And Innovative

Galiano Gold (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/GAU#AMEX">GAU</a>) reported quarterly earnings of $0.07 per share which beat the analyst consensus estimate of $0.04 by 75 percent. This is a 40 percent increase over earnings of $0.05 per share from the same period last year. The company reported quarterly sales of $71.130 million which missed the analyst consensus estimate of $78.000 million by 8.81 percent. This is a 5.22 percent increase over sales of $67.600 million the same period last year.

Earnings Misses

Galiano Gold Q3 2024 Adj. EPS $0.07 Beats $0.04 Estimate, Sales $71.130M Miss $78.000M Estimate

HireQuest (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HQI#NASDAQ">HQI</a>) reported quarterly earnings of $0.20 per share which beat the analyst consensus estimate of $0.16 by 25 percent. The company reported quarterly sales of $9.416 million which beat the analyst consensus estimate of $8.950 million by 5.21 percent. This is a 1.56 percent increase over sales of $9.271 million the same period last year.

HireQuest Q3 2024 Adj. EPS $0.20 Beats $0.16 Estimate, Sales $9.416M Beat $8.950M Estimate

Donald Trump will return to the White House and will bring major changes to the country's tax, AI and energy policies. RBC Capital Markets analyst Deane Dray highlighted some of the companies that may benefit <a href="https://www.benzinga.com/government/24/11/41828468/trump-says-hed-replace-income-taxes-with-tariffs-the-potential-economic-fallout">from Trump's policies. </a>
Fossil Fuel/ Energy Independence: Trump's plans for energy independence would reverse many of the Biden administration's policies in order to reinvigorate the fossil fuel industry. He aims to expand the construction of pipelines, grids, ports and refineries and emphasizes utilizing domestic oil, gas and coal resources. Dray pointed to Flowserve Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FLS#NYSE">FLS</a>) and Emerson Electric Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EMR#NYSE">EMR</a>) as potential beneficiaries of Trump's energy policies. 
Read Next: <a href="https://www.benzinga.com/news/24/11/41781921/what-does-trumps-victory-mean-for-ev-giant-tesla-and-the-big-3-automakers">What Does Trump&#8217;s Victory Mean For EV Giant Tesla And The Big 3 Automakers?</a>
Rollback of IRA/ Reduced Clean Energy Investments: Trump has said he plans<a href="https://www.benzinga.com/news/24/07/39854007/trump-says-he-will-end-the-electric-vehicle-mandate-on-day-one-days-after-tesla-ceo-elon-musks-endor"> to eliminate</a> many vehicle emissions standards under the Environmental Protection Agency as well as many EV incentives included in the Biden administration&#8217;s Inflation Reduction Act (IRA). 
The RBC analyst again pointed to oil and gas companies as the key companies that could benefit from these potential policy adjustments, but cautioned it is too early to tell what the impacts might be for nuclear power companies. 
More Flexible/Reduced AI Regulation: RBC expects a Trump administration to be in favor of Big Tech and AI developers as he has called for a review of "unnecessary and burdensome regulations" on AI. The firm also pointed out that multi-industry data center-exposed stocks outperformed the sector by 500 basis points the day after Trump won the election. 
Dray said multi-industry companies involved in data centers that could benefit from Trump's less restrictive AI policies include nVent Electric Plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVT#NYSE">NVT</a>) and Eaton Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ETN#NYSE">ETN</a>). 
Lower Corporate Tax Rate: Trump <a href="https://www.benzinga.com/government/24/10/41623850/trump-vs-harris-how-the-candidates-corporate-tax-proposals-stack-up">shared his plans</a> to lower the corporate tax rate to 15% for companies that make their products in the U.S. The RBC analyst sees lower corporate tax rates could lead to more reshoring from semiconductor and pharmaceutical companies and potentially more investment in the US. 
Dray pointed to Roper Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROP#NASDAQ">ROP</a>) specifically, but most publicly traded companies could benefit from lower tax rates. 
The Takeaway: "The bottom line is that early stock moves are playing out according to script, with the early stock outperformers being the electricals and oil and gas exposed names," Dray wrote. 
Read More:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/news/large-cap/24/11/41774549/trumps-big-tech-policies-what-gop-victory-means-for-apple-google-microsoft">Trump&#8217;s Big Tech Policies: What GOP Victory Means For Apple, Google, Microsoft</a></li>
</ul>
Photo: Shutterstock

Government

How To Play The 'Trump Trade' For AI, Energy, Taxes: Analyst Says 5 Stocks Could Shine

Wishpond Technologies reports Q3 results; reaffirms key goals for FY23

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
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Though ultra-speculative and high-risk overall, a select group of rapidly expanding businesses trading under $5 per share can transform early investors into millionaires if their disruptive potential is realized. Dedicating a small portion of portfolio capital to thoroughly vetted penny opportunities sets the stage for outsized rewards over time.



Of course, losses are equally likely with such speculative moonshot bets. But by targeting <a href="https://investorplace.com/stock-types/penny-stocks/">penny stocks</a> with strong top-line growth, relatively sound financials, and clear paths to profitability, the odds of multibagger gains improve dramatically. As these thriving young companies scale up, their depressed share prices should eventually reflect the underlying fundamental progress. Let&rsquo;s take a look!



<h2>Altus Power (AMPS)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/09/electricity-wire-1600-300x169.jpg" alt="A concept image of electricity flowing between two disconnected electric cables."><div>Source: ESB Professional / Shutterstock.com</div></div>As a commercial-scale supplier of clean electric power across the U.S., Altus Power (NYSE:<a href="https://investorplace.com/stock-quotes/amps-stock-quote/">AMPS</a>) is focused on expediting the transition to renewable energy nationwide. Through valuable partnerships and acquisitions that enhance growth and reinforce their competitive strengths, Altus has established a footprint across hundreds of sites in over 20 states.



There&rsquo;s no denying Altus Power&rsquo;s stock has underperformed recently, and their less-than-stellar financials certainly don&rsquo;t inspire confidence. However, I believe that if you&rsquo;re targeting multibagger returns this year, AMPS could deliver exactly that. The company seems poised for a financial turnaround as electricity demand swells thanks to escalating EV usage and surging power needs for AI data centers and cloud computing. Essentially, the macro backdrop looks bright for electricity providers like Altus.



Though Altus&rsquo; present financial position appears weak, analysts anticipate a dramatic improvement by 2025, including positive EPS. Even more impressive, earnings growth is <a href="https://seekingalpha.com/symbol/AMPS/earnings/estimates">expected to skyrocket 140% in 2026</a>. At current prices, that means you&rsquo;d be paying only around 18 times the estimated 2026 earnings &ndash; an undeniably cheap forward P/E ratio given that revenues are projected to double from 2024 to 2026.



It&rsquo;s worth noting that Altus does have a track record of missing estimates, like when they undershot Q3 revenue projections by 14% and Q4 figures by 6%. However, given their stellar long-term growth runway, I believe the stock could still realistically deliver multibagger returns over the next few years. The projected growth is just too substantial to ignore.



<h2>Pinstripes (PNST)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/05/pennies-cheap-1600-300x169.png" alt="Pennies in a jar on top of a background of pennies. Pennies. Cheap stocks."><div>Source: John Brueske / Shutterstock</div></div>As an experiential dining and entertainment brand blending bistro fare, bowling, bocce ball and event hosting, Pinstripes (NYSE:<a href="https://investorplace.com/stock-quotes/pnst-stock-quote/">PNST</a>) has carved out a unique niche since its launch in 2007. Having expanded to 13 locations across nine states, Pinstripes aims to open over 100 new venues in the coming years.



The broader &ldquo;eatertainment&rdquo; industry appears poised for vigorous revenue expansion. However, risks remain in terms of successful execution and performance monitoring. Still, I&rsquo;m bullish on Pinstripes&rsquo; potential to generate multibagger returns for patient investors given their strong cash reserves and ambitious growth strategy.



While PNST stock slid in late 2022, it has traded predominantly sideways in recent months. I expect shares to mount an impressive recovery this year. Analyst consensus calls for sales to climb from $122 million this year to <a href="https://seekingalpha.com/symbol/PNST/earnings/estimates">$233 million by 2025</a>. Though Pinstripes isn&rsquo;t forecast to reach profitability over the next couple years projected losses seem manageable at under $10 million annually moving ahead. With $40 million now on the balance sheet, the company has ample capital to fund operations over the next four years as revenues scale dramatically higher. For these reasons, PNST remains a high-conviction penny pick in my book.



<h2>Wishpond Technologies (WPNDF)</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>As a provider of online business solutions on a global scale, Wishpond&rsquo;s (OTCMKTS:<a href="https://investorplace.com/stock-quotes/wpndf-stock-quote/">WPNDF</a>) all-in-one platform empowers companies to boost marketing results, accelerate lead generation, streamline sales, optimize ad spend, boost customer referrals and improve conversion rates through AI-powered automation. This diverse functionality allows businesses to optimize their digital presence and unlock growth.



Typically, well-established SaaS marketing players trade at 10-20x forward sales while churning out substantial profits &mdash; a description that admittedly does not apply to Wishpond at current. Although the stock has plunged 66% over the trailing year, it can realistically achieve similar profitability and valuations in the years ahead given the recently renewed growth momentum.



In fact, Wishpond <a href="https://www.google.com/finance/quote/WPNDF:OTCMKTS">recorded a small profit</a> last quarter to reverse previous losses. Looking ahead, analysts forecast annual sales growth will <a href="https://seekingalpha.com/symbol/WPNDF/earnings/estimates">accelerate from 12% in 2023 to 31%</a> by 2025. If Wishpond maintains this growth trajectory and margin expansion continues leading to sustained profitability, multibagger upside potential seems highly attainable here. Wishpond held a healthy cash position of $900,000 and zero debt as of September 2023. Management expects record top and bottom line results this year, powered by increased bundled software sales, larger sales teams and new AI-based product introductions.



<h2>NanoXplore (NNXPF)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/08/penny-stocks-1600-300x169.jpg" alt="Page of newspaper with words penny stocks. Undervalued Penny Stocks"><div>Source: Vitalii Vodolazskyi / Shutterstock.com</div></div>NanoXplore (OTCMKTS:<a href="https://investorplace.com/stock-quotes/nnxpf-stock-quote/">NNXPF</a>) manufactures and supplies high-volume graphene powder for diverse industrial markets. By incorporating graphene into plastics and composites, they enable enhanced products for customers across transportation, packaging, electronics and other sectors.



NanoXplore has immense upside potential as graphene demand swells exponentially over the coming years. The global graphene market is expected to rocket from <a href="https://www.mordorintelligence.com/industry-reports/graphene-market">$790 million in 2024 to $4.84 billion</a> in 2029, expanding at a vigorous 43.64% CAGR. Nicknamed the &ldquo;wonder material,&rdquo; graphene boasts immense strength &ndash; 200 times stronger than steel at the same thickness &mdash; while remaining extremely lightweight.



Multiple catalysts point to possible outperformance of NanoXplore versus current projections. Analysts forecast revenue to leap from <a href="https://seekingalpha.com/symbol/NNXPF/earnings/estimates">$96 million in 2024 to $189 million</a> in 2027. However, as graphene use cases proliferate further, the company will handily beat estimates. NanoXplore&rsquo;s massive production plant in Montreal stands as the world&rsquo;s biggest graphene production facility, uniquely positioning them to capture surging market share.



<h2>SmartRent (SMRT)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/04/rental-th-1600-300x169.png" alt='A paper cutout of a house is attached to a tag reading "for rent."'><div>Source: Pixelbliss / Shutterstock.com</div></div>Despite recent sideways trading and declines, SmartRent (NYSE:<a href="https://investorplace.com/stock-quotes/smrt-stock-quote/">SMRT</a>) delivering compelling long-term gains as profitability draws nearer. As a foremost provider of smart home automation solutions for multifamily residences, SmartRent empowers property owners and managers to streamline operations via software and hardware that controls security, access, utilities and more.



With automation and AI commanding tremendous excitement lately, demand appears strong for SmartRent&rsquo;s offerings as smart homes gain traction. Analysts model near breakeven in 2024, with profits materializing in 2025. At just <a href="https://seekingalpha.com/symbol/SMRT/earnings/estimates">33x estimated 2026 earnings</a>, SmartRent looks cheap compared to forecasted 20%+ annual revenue growth and ~30% annual margin expansion over the next four-plus years. With negligible debt and $215 million in cash, execution risk seems modest. Management guides to $260-$290 million revenue in fiscal 2024, marking SmartRent&rsquo;s first year of positive adjusted EBITDA at $5-$8 million.



<h2>Copperleaf Technologies (CPLFF)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/10/growthstocks_1600_02-300x169.jpg" alt="Hand of woman watering small plant in pot shaped like growing graph representing growth stocks. Sleeper Growth Stocks"><div>Source: Khakimullin Aleksandr / Shutterstock</div></div>Headquartered in Canada but selling globally, Copperleaf (OTCMKTS:<a href="https://investorplace.com/stock-quotes/cplff-stock-quote/">CPLFF</a>) provides software solutions leveraging operational and financial data to optimize asset investment decisions for organizations managing critical infrastructure assets.



As infrastructure spending booms, particularly in the U.S., Copperleaf is well-positioned to benefit by selling its software services to support better capital allocation. Recent results validate this thesis, with 20%+ annual revenue growth projected moving forward.



While profits have yet to materialize, Copperleaf surprised last quarter, exceeding EPS estimates by 42%. With $88 million in the bank and margins set to inflect positively, I believe profit compounding could ignite multibagger upside &mdash; though more likely beyond 2024 given early phase profitability. Still, long-term business momentum clearly points upward in my view.



<h2>ZOO Digital (ZDGGF)</h2>



<div><img width="300" height="200" src="https://investorplace.com/wp-content/uploads/2018/06/cloudmsn-compressor-300x200.jpg" alt=""><div>Source: Shutterstock</div></div>Offering cloud-localized and digital distribution solutions globally, ZOO Digital (OTCMKTS:<a href="https://investorplace.com/stock-quotes/zdggf-stock-quote/">ZDGGF</a>) enables media content like movies and shows to be adapted for different languages and cultures while managing digital delivery. They also provide complementary software offerings related to those services.



No doubt ZOO Digital&rsquo;s recent stock and financial performance has proven lackluster. However, beyond transient headwinds, I expect a return to healthy growth in the years ahead as profitability initiatives gain hold after the near-term decline. Case in point: ZOO Digital&rsquo;s forecasted 3-year free cash flow and revenue growth rates stand at <a href="https://www.gurufocus.com/stock/ZDGGF/summary">144% and 36.3%</a>, respectively. Trading at just $0.46, shares also look extremely inexpensive relative to $1.60 fair value estimate per GuruFocus. Once macro conditions stabilize, ZOO appears poised to capitalize on long-run, secular growth tailwinds.



On the date of publication, Omor Ibne Ehsan did not hold (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 InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.
<div>Omor Ibne Ehsan is a writer at InvestorPlace. He is a self-taught investor with a focus on growth and cyclical stocks that have strong fundamentals, value, and long-term potential. He also has an interest in high-risk, high-reward investments such as cryptocurrencies and penny stocks. You can follow him on <a href="https://www.linkedin.com/in/omor-ibne-ehsan-56068022b/">LinkedIn</a>.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/04/7-penny-growth-stocks-to-buy-for-multibagger-gains-this-year/">7 Penny Growth Stocks to Buy for Multibagger Gains This Year</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

7 Penny Growth Stocks to Buy for Multibagger Gains This Year

Wishpond Technologies reports Q4 results

Wishpond Technologies; reports Q1 results

Wishpond Technologies names Adrian Lim as CFO

Wishpond Technologies intends to make a normal course issuer bid

Wishpond Technologies reports Q2 results

AMPS

CPLFF

NNXPF

PNST

SMRT

WPNDF

ZDGGF

Small Cap

Press Releases

Wishpond Reports Q1-2024 Financial Results with Ongoing Revenue Growth and 39% Improvement in Adjusted EBITDA(1)

Wishpond Appoints Adrian Lim as New Chief Financial Officer

Wishpond Announces Normal Course Issuer Bid

Wishpond's Viral Loops Launches New Rewards Distribution Program Allowing Customers to Give Referral Rewards Using Stripe Marketplace, Tremendous, and Sendoso

Wishpond Announces Date for Second Quarter 2024 Financial Results Video Conference Call

Wishpond's SalesCloser AI Launches New Integrations Marketplace to Enhance Automation and Improve Sales Effectiveness

Wishpond Reports Q2-2024 Financial Results with a 151% Improvement in Adjusted EBITDA

Real Estate

Wishpond Collaborates with Roomvu to Revolutionize Real Estate Lead Management with SalesCloser AI, its Next Generation AI-Powered Virtual Sales Agent

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