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cbdMD Inc is a United States based company. It owns and operates the consumer hemp-based cannabidiol (CBD) brand, cbdMD, Paw CBD and hempMD. The company's product categories include CBD tinctures, CBD gummies, CBD topicals, CBD bath bombs, CBD oils, and CBD pet products. The firm distributes its products through an e-commerce website, wholesalers, and a variety of brick-and-mortar retailers.

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cbdMD, Inc. 8.0% Series A Cumulative Convertible Preferred Stock

Trump Media &amp; Technology Group Corp. saw a notable 33.77% rise to $45.40 in pre-market trading on Wednesday, as per <a href="https://pro.benzinga.com">Benzinga Pro</a>. The company was co-founded by the former president.
With the election results unfolding, Donald Trump is just three seats away from securing a majority. This political development has evidently impacted the stock&#8217;s performance, mirroring investor sentiment and market speculation.
See Also: <a href="https://www.benzinga.com/markets/asia/24/11/41722178/if-trump-and-republicans-sweep-dollar-may-climb-7-but-harris-win-could-bring-5-drop-says-jpmorgan?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">If Trump And Republicans Sweep, Dollar May Climb 7% — But Harris Win Could Bring 5% Drop, Says JPMorgan</a>
Moreover, on the trading platform Robinhood (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>), DJT shares experienced a significant surge of 54.86%. 
The spike in pre-market hours comes despite its third-quarter net sales falling by 6% and standing at $1.01 million. The company posted a loss of 10 cents per share, an improvement from the 30 cents per share loss recorded in the third quarter of last year.
If Trump wins he would become the first president to win another term after a defeat in 132 years.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/24/11/41733899/trump-woos-muslim-voters-says-hes-building-the-biggest-and-broadest-peace-coalition-kamala-and-her-w?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Woos Muslim Voters, Says He&#8217;s &#8216;Building The Biggest And Broadest&#8217; Peace Coalition: &#8216;Kamala And Her Warmonger Cabinet Will Invade The Middle East&#8217;</a></li>
</ul>
Image via Shutterstock
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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Pre-Market Outlook

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HOOD

Trump Media Stock (DJT) Jumps 33.77% In Pre-Market As Ex-President Inches Closer To White House Victory

SpaceX completed its 400th successful Falcon launch with its Falcon 9 rocket launching a Dragon spacecraft to the International Space Station with supplies on Monday, the company said. 
What Happened: Falcon 9 launched Dragon to the International Space Station from Florida on Monday carrying over 6,000 pounds of science, supplies, and hardware. The mission marked the Falcon launch vehicle&#8217;s 400th successful launch to date, SpaceX said in a post on social media platform X.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Falcon 9 launches Dragon to the <a href="https://twitter.com/Space_Station?ref_src=twsrc%5Etfw">@Space_Station</a>, completing our 400th successful Falcon launch! <a href="https://t.co/GySOycPDMO">pic.twitter.com/GySOycPDMO</a>
&mdash; SpaceX (@SpaceX) <a href="https://twitter.com/SpaceX/status/1853653474300621098?ref_src=twsrc%5Etfw">November 5, 2024</a></blockquote>
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SpaceX CEO Elon Musk also congratulated the team at SpaceX on the achievement.
&#8220;Strange that no one has copied SpaceX after all this time,&#8221; Musk said in another post about the company&#8217;s efforts towards reusing the Falcon vehicle&#8217;s boosters in a bid to bring down the cost of spaceflight. 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Strange that no one has copied SpaceX after all this time
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1853734892716060841?ref_src=twsrc%5Etfw">November 5, 2024</a></blockquote>
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Falcon is SpaceX&#8217;s primary launch vehicle. SpaceX&nbsp;<a href="https://www.benzinga.com/news/24/07/39612042/elon-musks-spacex-launches-67-missions-in-first-half-of-2024-trailing-own-targets" target="_blank" rel="noreferrer noopener">completed</a> its 100th Falcon flight of the year late last month. 
The company is currently also undertaking testing and development of its ambitious Starship launch vehicle. The company has conducted five test flights to date, starting from April 2023. However, the vehicle is yet to carry any payload to space. 
Why It Matters: SpaceX was looking to launch 144 times in 2024, averaging twelve times per month earlier this year. 
SpaceX VP of Launch Kiko Dontchev said on Tuesday that the company will not make its goal of 144 launches this year but is still targeting 30 more launches for the remaining year. 
&#8220;While we will not make our original goal of 144 launches, we are still targeting 30 more launches in 2024 (~one every two days). It will not be easy and our work is cut out for us, but the team is all in,&#8221; Dontchev wrote on X. 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Congrats to the <a href="https://twitter.com/SpaceX?ref_src=twsrc%5Etfw">@SpaceX</a> team on our 400th Falcon launch!!! While we will not make our original goal of 144 launches, we are still targeting 30 more launches in 2024 (~one every two days). It will not be easy and our work is cut out for us, but the team is all in. The only way… <a href="https://t.co/RvyslmbuMO">https://t.co/RvyslmbuMO</a>
&mdash; Kiko Dontchev (@TurkeyBeaver) <a href="https://twitter.com/TurkeyBeaver/status/1853983823555350856?ref_src=twsrc%5Etfw">November 6, 2024</a></blockquote>
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For the entirety of 2023, SpaceX&nbsp;<a href="https://www.benzinga.com/news/24/09/40916098/elon-musks-spacex-launches-90th-mission-in-2024-with-over-a-third-of-launch-target-still-to-go" target="_blank" rel="noreferrer noopener">only completed 96 launches</a>, not including two test flights of the company&#8217;s Starship launch vehicle.
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/24/11/41738613/elon-musk-rejects-rumors-of-a-tesla-phone-but-says-the-ev-giant-will-have-to-make-one-if-this-happen" target="_blank" rel="noreferrer noopener">Elon Musk Rejects Rumors Of A Tesla Phone, But Says The EV Giant Will Have To Make One If This Happens</a></li>
</ul>
Photo courtesy: SpaceX

SPACE

Tech

SpaceX Completes 400th Successful Falcon Launch To Date, But Will Miss Target Of 144 Launches In 2024, Says Company Exec

Mowi (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MHGVY#OTC">MHGVY</a>) reported quarterly earnings of $0.23 per share which beat the analyst consensus estimate of $0.19 by 21.05 percent. This is a 11.54 percent decrease over earnings of $0.26 per share from the same period last year. The company reported quarterly sales of $1.59 billion which missed the analyst consensus estimate of $1.64 billion by 3.23 percent. This is a 7.30 percent increase over sales of $1.48 billion the same period last year.

Earnings

MHGVY

Mowi Q3 EPS $0.23 Beats $0.19 Estimate, Sales $1.59B Miss $1.64B Estimate

Koninklijke Ahold Delhaiz (OTC:<a class="ticker" href="https://www.benzinga.com/stock/ADRNY#OTC">ADRNY</a>) reported quarterly earnings of $0.68 per share. This is a 7.94 percent increase over earnings of $0.63 per share from the same period last year. The company reported $24.18 billion in sales this quarter. This is a 1.30 percent increase over sales of $23.87 billion the same period last year.

ADRNY

Koninklijke Ahold Delhaiz Q3 EPS $0.68 Up From $0.63 YoY, Sales $24.18B Up From $23.87B YoY

United Microelectronics Reported October 2024 Net Sales Growth Of 11.36% YoY

Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) shares surged by over 12% in overnight trading on brokerage firm Robinhood over a likely Donald Trump victory in the <a href="https://www.benzinga.com/topic/2024-election">U.S. Presidential elections</a>.
What Happened: According <a href="https://www.nytimes.com/live/2024/11/05/us/trump-harris-election">to</a> The New York Times, Trump currently has over 95% chance of victory given he already has <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">267 of the 270 electoral votes needed to win</a>.
Tesla CEO Elon Musk endorsed Trump in July and has been actively campaigning for the former President <a href="https://www.benzinga.com/news/24/11/41709658/stephen-king-slams-elon-musk-claims-most-of-his-posts-spread-pro-trump-disinformation-and-outright-l">both offline and online</a>. Musk even campaigned for Trump in the swing state of Pennsylvania in October.
The billionaire CEO also founded a super PAC called America PAC to which he has so far given&nbsp;<a href="https://www.benzinga.com/news/24/10/41417390/elon-musks-pro-trump-super-pac-to-give-1m-every-day-to-people-in-swing-states-for-signing-his-petiti" target="_blank" rel="noreferrer noopener">over $100 million</a>&nbsp;in a bid to support Trump's presidential campaign, cementing him as a key figure in this year's Presidential election.
Trump, meanwhile, has expressed his intent to set up a&nbsp;<a href="https://www.benzinga.com/government/24/09/40739165/trump-plans-to-appoint-elon-musk-to-government-efficiency-commission-if-elected-tesla-ceo-says-hell" target="_blank" rel="noreferrer noopener">government efficiency commission</a>&nbsp;led by Musk if elected President. The commission will be tasked with conducting a complete financial and performance audit of the federal government and recommending reforms, Trump said in September.
According to Wedbush analyst Dan Ives, the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41766869/trump-win-biggest-positive-for-elon-musks-tesla-tech-bull-says-it-could-boost-ev-gi">biggest positive from a Trump win would be for Tesla and Musk</a>.
&#8220;We believe a Trump win is a negative for the EV industry as the EV rebates/tax incentives get pulled, however for Tesla a huge positive for scale/price advantage,&#8221; Ives said on Wednesday. The analyst added that a Trump win could add $40-$50 to Tesla&#8217;s stock. 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The biggest positive from a Trump win would be for Tesla/Musk. We believe a Trump win is a negative for the EV industry as the EV rebates/tax incentives get pulled, however for Tesla a huge positive for scale/price advantage. A Trump win could add $40-$50 to Tesla&#39;s stock &#x1f525;&#x1f3c6;&#x1f402;
&mdash; Dan Ives (@DivesTech) <a href="https://twitter.com/DivesTech/status/1854049545300156565?ref_src=twsrc%5Etfw">November 6, 2024</a></blockquote>
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A Trump administration could also aid Musk&#8217;s&nbsp;<a href="https://www.benzinga.com/topic/autonomous-vehicles" target="_blank" rel="noreferrer noopener">push towards enabling autonomous driving</a>&nbsp;with its full self-driving driver assistance technology, Ives <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41709990/trump-and-tesla-what-the-future-holds-for-elon-musks-ev-giant-in-case-of-a-gop-win">said in a note</a> earlier this week. 
Price Action: At the time of writing, the Tesla stock was up by 10.5% on overnight trading on Robinhood. Year-to-date, Tesla shares are up 1.2%, after the stock closed up 3.5% at $251.44 on Tuesday, according to <a href="https://pro.benzinga.com/dashboard" target="_blank" rel="noreferrer noopener">Benzinga Pro data</a>.
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/24/11/41738613/elon-musk-rejects-rumors-of-a-tesla-phone-but-says-the-ev-giant-will-have-to-make-one-if-this-happen" target="_blank" rel="noreferrer noopener">Elon Musk Rejects Rumors Of A Tesla Phone, But Says The EV Giant Will Have To Make One If This Happens</a></li>
</ul>
Photos courtesy: Shutterstock

Politics

TSLA

Tesla Shares Pop Over 12% In Overnight Trading On Robinhood As Trump Inches Closer To Victory

MBusiness Highlights
Mobile
As of September 30th, 2024, Chunghwa Telecom had 13.01 million mobile subscribers, representing a 0.6% year-over-year increase. In the third quarter, total mobile service revenue increased by 2% to NT$ 16.75 billion, while mobile post-paid ARPU excluding IoT SIMs maintained stable and flat year over year at NT$ 552.
Fixed Broadband/HiNet
As of September 30th, 2024, the number of broadband subscribers slightly increased by 0.7% to 4.42 million. The number of HiNet broadband subscribers increased by 1.3% to 3.73 million. In the third quarter, total fixed broadband revenue grew 3.4% year over year to NT$ 11.32 billion, while ARPU increased 1.5% to NT$ 786.
Fixed line
As of September 30th, 2024, the number of fixed-line subscribers was 8.95 million.

As Of Sep 30, Chunghwa Telecom Had 13.01M Mobile Subs(Up By 0.6% YoY), 4.42M Broadband Subs (Up By 0.7% YoY), 8.95M Fixed-Line Subs

Chunghwa Telecom Q3 EPS $0.04 Down From $0.37 YoY, Sales $1.72B Up From $1.69B YoY

Chunghwa Telecom Reported Q3 Revenue Growth Of 3.6% YoY

Tech bull and prominent analyst Dan Ives is optimistic about the impact of a potential Donald Trump win on the Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) stock, as the former president stands <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">three electoral votes away from securing the presidency</a>.
What Happened: Ives, an analyst at Wedbush Securities, suggests Tesla could see substantial gains under a potential Trump administration, despite broader challenges for the electric vehicle industry.
&#8220;The biggest positive from a Trump win would be for Tesla/Musk,&#8221; Ives wrote on X, formerly known as Twitter. &#8220;We believe a Trump win is a negative for the EV industry as the EV rebates/tax incentives get pulled, however for Tesla a huge positive for scale/price advantage.&#8221;
Ives projects a potential $40-$50 boost to Tesla&#8217;s stock price under a Trump presidency, citing the company&#8217;s established market position and manufacturing scale. Based on the current Tesla stock price, this presents an upside of nearly 16% to 20%.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The biggest positive from a Trump win would be for Tesla/Musk. We believe a Trump win is a negative for the EV industry as the EV rebates/tax incentives get pulled, however for Tesla a huge positive for scale/price advantage. A Trump win could add $40-$50 to Tesla&#39;s stock &#x1f525;&#x1f3c6;&#x1f402;
&mdash; Dan Ives (@DivesTech) <a href="https://twitter.com/DivesTech/status/1854049545300156565?ref_src=twsrc%5Etfw">November 6, 2024</a></blockquote>
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Additionally, he expects significant artificial intelligence initiatives that would benefit Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), Alphabet Inc.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) Google, and Palantir Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>).
Trump is currently leading key battleground states, according to the Associated Press.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">We would expect significant AI initiatives from the Beltway within the US that would be a benefit for Microsoft, Amazon, Google, and other tech players. Under Trump we would expect major AI initiatives that would also be a major tailwind from AI players like Palantir. &#x1f525;&#x1f3c6;&#x1f402;&#x1f37f;
&mdash; Dan Ives (@DivesTech) <a href="https://twitter.com/DivesTech/status/1854058502219829738?ref_src=twsrc%5Etfw">November 6, 2024</a></blockquote>
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See Also: <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">Trump Gives Victory Speech In Florida As Winning Pennsylvania Puts Him At Brink Of Victory, Vows To &#8216;Fix Everything About Our Country&#8217;</a>
Why It Matters: Meanwhile, the news of Trump&#8217;s potential re-election has already had a significant impact on the market. The shares of Trump Media &amp; Technology Group Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJT#NASDAQ">DJT</a>) surged, and <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41765518/5-things-moving-as-trump-trade-fever-sweeps-wall-street-amid-election-night-drama">stock futures also experienced a rise</a> on election night. 
Additionally, <a href="https://www.benzinga.com/news/24/11/41765345/treasury-yields-pop-on-trump-victory-chances-10-year-benchmark-reaches-4-month-high">yields on U.S. sovereign debt rose</a> as investors digested the preliminary results from the closely contested fight between Trump and Kamala Harris.
Price Action: Tesla stock closed at $251.44 on Tuesday, rising by 3.54%, for the day. In after-hours trading, the stock climbed further 3.01%. Over the past year, Tesla&#8217;s stock has surged by 14.67%, according to <a href="https://pro.benzinga.com/dashboard" target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/11/41734887/cathie-woods-latest-shake-up-dumps-palantir-and-jack-dorseys-block-along-with-tesla-buys-amazon-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Cathie Wood&#8217;s Latest Shake-up: Dumps Palantir And Jack Dorsey&#8217;s Block Along With Tesla, Buys Amazon And Meta</a></li>
</ul>
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/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

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PLTR

Trump Win 'Biggest Positive' For Elon Musk's Tesla, Tech Bull Says It Could Boost EV Giant's Stock By This Much

The cryptocurrency market received an unprecedented boost after Donald Trump, a vocal advocate of the asset class, came to the brink of victory after winning the key battleground states of Pennsylvania, and North Carolina.
What happened: The Associated Press declared Trump the winner at 2:24 a.m. ET, as the highly charged cycle that saw cryptocurrencies become a significant election issue nears its end.
Trump <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">claimed victory</a> at the Palm Beach Convention Center, the home of his official election night party, although AP was yet to project him as the winner.
Bitcoin, the barometer of the market, set a new all-time high earlier, as odds of a Trump victory started increasing on prediction <a href="https://polymarket.com/event/presidential-election-winner-2024?tid=1730877376956">markets </a>like Polymarket and Kalshi.
As of this writing, Bitcoin cooled down to $73,000, as traders took profits on the rally.
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<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 3 a.m. ET)</td>
</tr>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>+6.24%</td>
<td>$73,004.14</td>
</tr>
<tr>
<td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)</td>
<td>+14.22%</td>
<td>$0.1922</td>
</tr>
<tr>
<td>Maga (TRUMP)</td>
<td>-5.27%</td>
<td>$3.33</td>
</tr>
</tbody>
</table>
</figure>
Bitcoin's rise seemed unavoidable, as the former President had passionately advocated for the asset class, going to the extent of promising 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">national Bitcoin reserve</a>.
Dogecoin was another winner of the day, pumping over 14% in what appeared to be a reaction to the planned <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41220500/elon-musk-says-potential-doge-department-under-a-trump-administration-will-be-a-garbage-co">Department of Government Efficiency</a>, or &#8216;DOGE,&#8217; led by Elon Musk under the incoming administration.
Cryptocurrency themed around the man himself Maga, rooted in the "Make America Great Again" movement, dipped somewhat after soaring as high as 18% Tuesday overnight.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41764861/shytoshi-kusama-promotes-s-h-i-b-as-elon-musk-touts-d-o-g-e-shiba-inu-rallies-10-amid-broa">Shytoshi Kusama Promotes S.H.I.B As Elon Musk Touts D.O.G.E — Shiba Inu Rallies 10% Amid Broader Crypto Gains</a>
Why It Matters: Daniel Cheung, co-founder of cryptocurrency hedge fund Syncracy Capital, expressed optimism for a "biblical" bull market for cryptocurrencies in the coming months.&nbsp;
He said that Trump&#8217;s presidency would be a 4-year call option on the market, with expectations of SEC Chair Gary Gensler <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/40002734/trump-says-bitcoin-will-skyrocket-like-never-before-if-he-returns-to-the-white-house-promi">being removed</a>, the U.S. adopting a sandbox approach to the sector, and a potential Bitcoin strategic reserve.
He also projected that Trump&#8217;s triumph would encourage retail participation, resulting in additional flows into the asset class.&nbsp;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I believe that crypto is potentially headed for a biblical bull market in the coming months that could surpass 2021 &#8211; some thoughts on the current market setup under a Trump Administration: 1) Trump presidency is a 4 year call option on crypto markets (i.e. Gensler fired, US…
&mdash; Daniel Cheung (@HighCoinviction) <a href="https://twitter.com/HighCoinviction/status/1854043885871514111?ref_src=twsrc%5Etfw">November 6, 2024</a></blockquote>
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Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41763299/trump-themed-cryptos-nfts-surge-in-expectations-of-former-presidents-victory-coin-inspired">Trump-Themed Cryptos, NFTs Surge In Expectations Of Former President&#8217;s Victory — Coin Inspired By Harris Falls 13%</a></li>
</ul>
Image Via Shutterstock

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

Cryptocurrency

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Bitcoin, Dogecoin Spike After Trump's Speech In Florida, Winning Key Battle States Puts Ex-President On Cusp Of Victory

Nevada Approves Abortion Rights Ballot Measure But Won't Go Into Effect Until 2026

Billionaire entrepreneur Mark Cuban congratulated former President Donald Trump and Tesla Inc. CEO Elon Musk on <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">their potential victory</a>, even before the final election results are announced.
What Happened: Cuban took to X, formerly Twitter, and acknowledged the probable win of Trump and Musk. 
&#8220;Congrats @realDonaldTrump. You won fair and&nbsp;square. Congrats to @elonmusk as&nbsp;well. #Godspeed,&#8221; Cuban wrote.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Congrats <a href="https://twitter.com/realDonaldTrump?ref_src=twsrc%5Etfw">@realDonaldTrump</a>. You won fair and square. Congrats to <a href="https://twitter.com/elonmusk?ref_src=twsrc%5Etfw">@elonmusk</a> as well. <a href="https://twitter.com/hashtag/Godspeed?src=hash&amp;ref_src=twsrc%5Etfw">#Godspeed</a>
&mdash; Mark Cuban (@mcuban) <a href="https://twitter.com/mcuban/status/1854046994345382034?ref_src=twsrc%5Etfw">November 6, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/general/politics/24/11/41732623/bakery-that-often-predicts-election-outcomes-has-this-candidate-winning-in-trump-harris-battle-d?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bakery That Often Predicts Election Outcomes Has This Candidate Winning In Trump, Harris Battle</a>
At the time of Cuban&#8217;s concession, the Associated Press&#8217;s count showed Trump close to securing the presidency, with 267 of the required 270 electoral votes. Trump was also leading in key yet-to-be-decided races, including Michigan and Wisconsin.
Why It Matters: Cuban, who previously <a href="https://www.benzinga.com/startups/24/10/41574981/mark-cuban-questions-why-trump-supporters-stay-silent-on-his-treatment-of-vendors-says-he-will-take">praised Trump in 2015</a> as the &#8220;best thing to happen to politics in a long time,&#8221; has become one of his fiercest critics.
He endorsed Hillary Clinton in the 2016 election and has remained a strong supporter of the Kamala Harris campaign in the current election cycle.
He also <a href="https://www.benzinga.com/news/24/10/41417224/trump-unleashes-scathing-attack-on-former-friend-mark-cuban-after-billionaire-criticizes-ex-presiden">criticized&nbsp;Trump&#8217;s tariff plans</a> that include a 20% blanket tariff on all imports and a 60% levy specifically on Chinese goods. 
Despite their&nbsp;<a href="https://www.benzinga.com/news/24/10/41222696/mark-cuban-recalls-his-love-hate-relations-with-trump-its-not-like-i-dont-like-him-i-just-dont-think">complex relationship</a>, Cuban has maintained business ties with Trump&#8217;s supporters, including a&nbsp;<a href="https://www.benzinga.com/startups/24/11/41750733/this-is-america-mark-cuban-says-justifying-his-business-relationship-with-trumps-100m-megadonor-and">business relationship</a>&nbsp;with Trump&#8217;s $100M megadonor, Miriam Adelson.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/asia/24/11/41722178/if-trump-and-republicans-sweep-dollar-may-climb-7-but-harris-win-could-bring-5-drop-says-jpmorgan?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">If Trump And Republicans Sweep, Dollar May Climb 7% — But Harris Win Could Bring 5% Drop, Says JPMorgan</a></li>
</ul>
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Photos courtesy: Shutterstock

Mark Cuban Congratulates Trump, Musk Before The Election Is Called, Says They 'Won Fair And Square'

<a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.crowdstrike.com%2Fen-us%2F&amp;esheet=54147816&amp;newsitemid=20241106324741&amp;lan=en-US&amp;anchor=CrowdStrike&amp;index=1&amp;md5=15ecc416fff1ecb9f6ea37b9781227b7">CrowdStrike</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>) today announced it has agreed to acquire Adaptive Shield, a leader in SaaS Security. With this acquisition, CrowdStrike will be the only cybersecurity vendor to provide unified, end-to-end protection against identity-based attacks across the entire modern cloud ecosystem – from on-premises Active Directory to cloud-based identity providers and SaaS applications – delivered from a single, unified platform. Announced at <a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.crowdstrike.com%2Fevents%2Ffal-con%2Feurope%2F&amp;esheet=54147816&amp;newsitemid=20241106324741&amp;lan=en-US&amp;anchor=Fal.Con+Europe&amp;index=2&amp;md5=e7219e94d2ead6847062eedd1ce8f3cf">Fal.Con Europe</a>, CrowdStrike's inaugural premier user conference in the region, this acquisition will position CrowdStrike as the leading provider of comprehensive protection across complex hybrid environments.

CRWD

CrowdStrike Expands Cybersecurity Reach with Acquisition of Adaptive Shield

Former President Donald Trump declared victory in the 2024 presidential election after winning <a href="https://www.benzinga.com/news/24/11/41762845/trump-wins-kentucky-indiana-harris-scores-vermont-as-polls-begin-to-close-across-us">the key battleground states</a>. Trump, who was addressing his supporters in New York, also praised his running mate, JD Vance, and acknowledged the role of tech mogul Elon Musk in his campaign.
What Happened: Trump, in his victory speech, lauded his supporters for overcoming seemingly insurmountable challenges on Tuesday night. He expressed his determination to &#8220;fix everything about our country&#8221; and described his win as &#8220;the greatest political movement of all time.&#8221;
According to <a href="https://apnews.com/live/trump-harris-election-updates-11-5-2024">the</a> latest numbers from The Associated Press, Trump has 267 out of the 270 electoral votes needed for victory. The Republican party is currently leading in key states like Michigan and Wisconsin, which are yet to be called.
Trump secured a victory in Pennsylvania, earning 19 electoral votes after capturing over 51% of the vote in this pivotal swing state.
&#8220;I want to thank the American people for the extraordinary honor of being elected your 47th president and your 45th president,&#8221; Trump said.
See Also: <a href="https://www.benzinga.com/news/24/11/41736493/microsoft-co-founder-bill-gates-says-everyone-in-future-will-have-a-utilitarian-ai-agent-that-will-h?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Microsoft Co-Founder Bill Gates Says Everyone In Future Will Have A &#8216;Utilitarian AI Agent&#8217; That Will Help</a>
Trump also addressed the criticism faced by Vance, his vice-presidential pick, for comments that were perceived as hostile to women. Despite the initial backlash, Trump praised Vance&#8217;s intellect and called him a &#8220;feisty guy.&#8221;
Trump also celebrated his party&#8217;s victory in the U.S. Senate, which he believes will aid in confirming his Cabinet members and nominating judges.
Trump asserted that he had won both the popular vote and an Electoral College landslide with over 300 votes, although the final counts are still pending in several states.
Trump also acknowledged the support of his family and campaign team, and when asked about Musk, he hailed the tech mogul as a &#8220;new star&#8221; and an &#8220;amazing guy.&#8221;
Why It Matters: On election night, <a href="https://www.benzinga.com/markets/equities/24/11/41763478/trump-media-reddit-devon-energy-super-micro-computer-and-tesla-buzzing-among-investors-on-electi">Trump&#8217;s media company</a>, Trump Media &amp; Technology Group Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJT#NASDAQ">DJT</a>), experienced a substantial surge in its shares, driven by the anticipation of the election results and the company&#8217;s third-quarter financial results.
Trump&#8217;s victory in the 2024 presidential race, including his win in the key swing state of North Carolina, has been a significant factor in the stock market&#8217;s movements.
The <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41765518/5-things-moving-as-trump-trade-fever-sweeps-wall-street-amid-election-night-drama">stock futures also experienced a rise</a> on election night. Futures associated with the Dow Jones Industrial Average increased by 739 points, or 1.74%, as of 2 a.m. ET. Futures linked to the S&amp;P 500 (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) were up by 1.42%.
Treasury yields also<a href="https://www.benzinga.com/news/24/11/41765345/treasury-yields-pop-on-trump-victory-chances-10-year-benchmark-reaches-4-month-high" target="_blank" rel="noreferrer noopener">&nbsp;saw an increase in overnight trading&nbsp;</a>as investors evaluated the early results of the tight presidential race. The 10-year Treasury yield jumped 14 basis points to 4.431%, hitting its highest level since July 2.
Read Next:
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<li><a href="https://www.benzinga.com/markets/equities/24/11/41703265/haley-tells-pennsylvania-voters-to-put-emotion-aside-and-rally-behind-trump?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Haley Tells Pennsylvania Voters To Put Emotion Aside And Rally Behind Trump</a></li>
</ul>
Photo courtesy: Shutterstock

Trump Gives Victory Speech In Florida As Winning Pennsylvania Puts Him At Brink Of Victory, Vows To 'Fix Everything About Our Country'

Republicans have taken control of the U.S. Senate, following victories in West Virginia and Ohio on Tuesday. This shift ensures that Donald Trump&#8217;s party will control at least one chamber of Congress in the coming year.
Jim Justice (R &#8211; W.Va) was projected to win an open Senate seat in West Virginia, succeeding Joe Manchin (I-W.Va.), a Democrat-turned-independent. In Ohio, Bernie Moreno (R-Ohio) was projected to defeat incumbent Democrat Sherrod Brown (D- Ohio). These wins secure a 51-49 Republican majority in the Senate, with potential for further gains as additional results are tallied, Reuters reported on Wednesday.
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>
Republicans also made early gains in the House of Representatives, aiming to expand their 220-212 majority. They captured a Democratic-held district in Pennsylvania, President Joe Biden&#8217;s hometown of Scranton, and gained seats in North Carolina after redistricting. However, Democrats flipped a Republican seat in New York and another in Alabama, following a Supreme Court order to create a Black majority district.
In Delaware, Sarah McBride (D- Del.) made history as the first openly transgender member of Congress. Meanwhile, tight races in New York and California could determine the final House control, with results possibly delayed due to lengthy ballot counts in California.
Read Next: 
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<li><a href="https://www.benzinga.com/news/24/11/41733346/obamas-former-campaign-manager-alarmed-by-early-voting-numbers-as-harris-trump-fight-close-battle-re?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Obama&#8217;s Former Campaign Manager Alarmed By Early Voting Numbers As Harris-Trump Fight Close Battle: &#8216;Republicans Didn&#8217;t Do What They Did Last Time&#8217;</a></li>
</ul>
Image via Pexels
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.

Trump-Led Republicans Get Hold Of US Senate With West Virginia, Ohio Wins

The CNN Money Fear and Greed index showed an improvement in the overall market sentiment, but the index remained in the &#8220;Fear&#8221; zone on Tuesday.
U.S. stocks settled higher on Monday, with the Dow Jones index gaining more than 400 points as investors awaited the results of the U.S. presidential election. The Federal Reserve is also scheduled to announce its November rate decision on Thursday.
On the economic data front, the trade deficit in the U.S. increased to $84.4 billion in September, recording the highest level since April 2022, and above market estimates of a $84.1 billion gap, versus a revised $70.8 billion gap in August. The ISM services PMI rose to 56 in October, recording the highest reading since Aug. 2022.
Yum! Brands, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YUM#NYSE">YUM</a>) posted downbeat results for its third quarter. Shares of Vimeo Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VMEO#NASDAQ">VMEO</a>) jumped around 45% on Tuesday after the company reported better-than-expected third-quarter financial results and issued fourth-quarter sales guidance above estimates.
All sectors on the S&amp;P 500 closed on a positive note, with consumer discretionary, industrials, and utilities stocks recording the biggest gains on Tuesday.
The Dow Jones closed higher by around 427 points to 42,221.88 on Tuesday. The S&amp;P 500 gained 1.23% to 5,782.76, while the Nasdaq Composite jumped 1.43% to close at 18,439.17 during Tuesday's session.
Investors are awaiting earnings results from CVS Health Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVS#NYSE">CVS</a>), Johnson Controls International plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JCI#NYSE">JCI</a>), and Qualcomm Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>) today.
What is CNN Business Fear &amp; Greed Index?
At a current reading of 43.5, the index remained in the &#8220;Fear&#8221; zone on Tuesday, versus a prior reading of 41.2.
The Fear &amp; Greed Index is a measure of the current market sentiment. It is based on the premise that higher fear exerts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equal-weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness.
Read Next: 
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<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/11/41744659/jim-cramer-says-he-cant-recommend-this-major-automaker-ceva-is-way-too-high">Jim Cramer Says He Can&#8217;t Recommend This Major Automaker, Ceva Is &#8216;Way Too High&#8217;</a></li>
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Photo courtesy: Shutterstock

Trading Ideas

QCOM

VMEO

Dow, Nasdaq Jump Over 1% Ahead Of Election Results: Investor Sentiment Improves, But Greed Index Remains In 'Fear' Zone

Peoples Financial Servs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PFIS#NASDAQ">PFIS</a>) reported quarterly earnings of $1.64 per share which beat the analyst consensus estimate of $1.07 by 53.27 percent. The company reported quarterly sales of $44.966 million which beat the analyst consensus estimate of $37.000 million by 21.53 percent. This is a 80.09 percent increase over sales of $24.969 million the same period last year.

Earnings Beats

PFIS

Peoples Financial Servs Q3 2024 Adj. EPS $1.64 Beats $1.07 Estimate, Sales $44.966M Beat $37.000M Estimate

Benzinga Election Update: At the Watch Party, Donald Trump Calls Elon Musk By Name, Says, "A New Star Is Born"

Elon Musk reported that X, formerly known as Twitter, experienced a significant surge in activity during the U.S. elections. 
What Happened: In a post on Wednesday, Musk shared a chart illustrating hourly mobile usage in the U.S., which showed a dramatic increase starting at 5 a.m. and peaking at 6 billion seconds by 11 p.m. ET.
This increase in usage aligns with the heightened interest in the Presidential election. As of the latest updates, Donald Trump was leading with 248 electoral votes, while Kamala Harris was trailing with 214 votes. The target for either candidate is to achieve 270 electoral votes to secure the presidency.
<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">Record usage of this platform!! <a href="https://t.co/SfWyi9kBWd">pic.twitter.com/SfWyi9kBWd</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1854042843142373793?ref_src=twsrc%5Etfw">November 6, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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See Also: <a href="https://www.benzinga.com/markets/asia/24/11/41722178/if-trump-and-republicans-sweep-dollar-may-climb-7-but-harris-win-could-bring-5-drop-says-jpmorgan?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">If Trump And Republicans Sweep, Dollar May Climb 7% — But Harris Win Could Bring 5% Drop, Says JPMorgan</a>
Why It Matters: The spike in activity on X during the election highlights the platform&#8217;s role in political discourse. Recently, Musk discussed the pressure he faced regarding the potential shutdown of X, comparing it to the challenges faced by Trump. During an appearance on Tucker Carlson's online show, Musk downplayed<a href="https://www.benzinga.com/news/24/11/41765113/elon-musk-tells-tucker-carlson-that-the-pressure-he-faced-for-shutting-down-x-pales-in-comparison-wi"> his own experiences</a>, emphasizing the greater difficulties encountered by Trump. This conversation took place on Election Day from Trump's Mar-a-Lago estate. 
Additionally, Musk has expressed intentions to expand his <a href="https://www.benzinga.com/news/24/11/41763360/elon-musk-is-already-eyeing-2026-midterms-plans-to-expand-pro-trump-pac-beyond-current-election-ther">pro-Trump super PAC</a> beyond the current election, with a focus on the 2026 midterms and local races. He suggested that a Trump victory would reflect a public desire for change, indicating a potential shift in the political landscape. Musk&#8217;s remarks came during a live session on X, where he noted, "I think there&#8217;s a sea change in the country." 
Read Next: 
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<li><a href="https://www.benzinga.com/news/24/11/41733899/trump-woos-muslim-voters-says-hes-building-the-biggest-and-broadest-peace-coalition-kamala-and-her-w?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Woos Muslim Voters, Says He&#8217;s &#8216;Building The Biggest And Broadest&#8217; Peace Coalition: &#8216;Kamala And Her&nbsp;Warmonger Cabinet Will Invade The Middle East&#8217;</a></li>
</ul>
Image via Shutterstock

Social Media

Elon Musk Says X Saw 'Record Usage' On Election Day As Trump Closes In On White House Win

In a report released yesterday, Anthony Vendetti from Maxim Group maintained a Buy rating on cbdMD (YCBD – Research Report), with a price target of...

Analyst Maintains 'Buy' Rating for cbdMD Amidst Challenges, Citing Brand Strength and Strategic Initiatives

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
There&rsquo;s bad news brewing for some <a href="https://investorplace.com/industries/healthcare/cannabis/">cannabis stocks</a>. Even as cannabis <a href="https://www.federalregister.gov/documents/2024/05/21/2024-11137/schedules-of-controlled-substances-rescheduling-of-marijuana">rescheduling efforts</a> continue, a key segment of the wider market is coming up on massive disruption: a hemp ban.



Hemp is a low- or no-THC cannabis crop, used for decades in textile work and many industrial processes. But, in 2018, the United States Farm Bill created a loophole via a loose definition of hemp that ultimately gave rise to a <a href="https://www.forbes.com/sites/willyakowicz/2024/04/19/the-cannabis-civil-war-hemp-vs-marijuana/">$28 billion grey market</a> that includes intoxicating hemp derivatives like delta-8 THC, delta-9 THC, and, in some cases, even popular CBD products.



A Farm Bill 2024 amendment seeks to close that loophole, threatening grey market operators and possibly hurting legitimate companies. The newly restrictive definition <a href="https://www.marijuanamoment.net/house-committee-approves-farm-bill-amendment-to-ban-most-hemp-derived-cannabinoid-products-like-delta-8-thc/">includes</a> all cannabinoids &ldquo;synthesized or manufactured outside of the plant.&rdquo; In other words, the wide-ranging hemp ban effectively restricts legal hemp usage to non-consumables.



While these companies are fully above board, the amendment (already approved by the House) could put greater regulatory pressure on their operations. Worse yet, these companies are already struggling to keep their heads above water in a saturated market, and this hemp ban could be the final nail in their coffin.



<h2>cbdMD (YCBD)</h2>



<a href="https://investorplace.com/wp-content/uploads/2019/06/hemp_0619.gif"><img width="300" height="163" src="https://investorplace.com/wp-content/uploads/2019/06/hemp_0619-300x163.gif" alt="Cannabis farm"></a>cbdMD (NYSEAMERICAN:<a href="https://investorplace.com/stock-quotes/ycbd-stock-quote/">YCBD</a>) is almost certainly going to struggle if the hemp ban proceeds further; unlike other hemp stocks, cbdMD <a href="https://www.cbdmd.com/collections/delta-9-thc">sells delta-9 THC</a> products explicitly targeted by the hemp ban. The company made news in recent years after former CEO Martin Sumichrast faced fraud charges after the <a href="https://hemptoday.net/cbd-fraudster-sec-reach-agreement-over-deals-that-falsely-boosted-companys-value/">SEC alleged</a> that he manipulated &ldquo;figures in cbdMD&rsquo;s balance sheet to boost the value of a stock offering, and [double] Sumichrast&rsquo;s salary.&rdquo; The SEC and Sumichrast settled the suit in April. Though the terms aren&rsquo;t yet disclosed, the entire ordeal casts a bad light on an already struggling organization that may go fully under following the hemp ban.



The company&rsquo;s <a href="https://feeds.issuerdirect.com/news-release.html?newsid=6464791004038358">second-quarter results</a> reinforce the hemp stock&rsquo;s shaky standing. Sales decreased 30% year-over-year, marking just $4.4 million in total revenue. Likewise, its net loss expanded to $4 million, and management took on an additional $1.54 million in debt via a convertible note offering. Ultimately, cbdMD is already on shaky ground. The emerging hemp ban may make its operations go up in smoke.



<h2>Charlotte&rsquo;s Web Holdings (CWBHF)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/09/cwbhf-stock-1-300x169.jpg" alt="Image of a Charlotte's Web (CWBHF) branded hemp product"><div>Source: Kevin McGovern / Shutterstock.com</div></div>While less explicitly impacted by the hemp ban, Charlotte&rsquo;s Web Holdings (OTCMKTS:<a href="https://investorplace.com/stock-quotes/cwbhf-stock-quote/">CWBHF</a>) may face an uphill battle. The company&rsquo;s core CBD offerings come from hemp. This means that they may fall under the &ldquo;synthesized or manufactured outside of the plant&rdquo; category of the Farm Bill amendment.



Like cbdMD, Charlotte&rsquo;s Web Holdings faced governance issues in recent years; activist investors staged a revolt that saw company CEO Jacques Tortoli replaced in 2023 because, in the <a href="https://mjbizdaily.com/hemp-cbd-operator-charlottes-web-replaces-ceo-after-shareholder-revolt/">words of co-founder</a> Joel Stanley, &ldquo;The truth is that the actions of this board have clearly contributed to the destruction of shareholder value.&rdquo;



While it&rsquo;s only been about six months since the revolt, the company&rsquo;s operational standing hasn&rsquo;t improved much and could fall further as the hemp ban progresses. Like cbdMD, sales slumped significantly in the company&rsquo;s <a href="https://www.greenmarketreport.com/charlottes-web-sales-slump-as-cost-cuts-turnaround-efforts-ramp-up/">recent quarterly report</a>, with revenue falling 29%. The company&rsquo;s sole saving grace in light of the emerging hemp ban may be its longstanding partnership with Major League Baseball, as the league likely has some clout and pull with legislators &mdash; but don&rsquo;t count on it.



<h2>Innovative Industrial Properties (IIPR)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/aurora-cannabis-stock-7-300x169.jpg" alt="A close-up shot of a marijuana growhouse. cannabis trends"><div>Source: Shutterstock</div></div>In the long run, I&rsquo;m bullish on Innovative Industrial Properties&nbsp;(NYSE:<a href="https://investorplace.com/stock-quotes/iipr-stock-quote/">IIPR</a>). The cannabis REIT is unique among peers in that, rather than growing, distributing, or selling cannabis products, it owns more than <a href="https://investors.innovativeindustrialproperties.com/~/media/Files/I/IIP-IR-V2/documents/iip-financial-supplement-11-1-2023.pdf">100 properties</a> at 98.5% occupancy tailor-made to house and support cannabis companies seeking safe, secure and tech-centric growing operations. I think IIPR&rsquo;s long-term prospects are strong amid rescheduling, but the hemp ban may present a short-term hit to the company&rsquo;s bottom line if existing tenants are unduly affected by the amendment.



Unfortunately for investors, Innovative Industrial Properties doesn&rsquo;t list its tenants by name or by product offering. This creates an air of uncertainty that could prove devastating. In this case, investors will likely shy away from an outright hemp ban&rsquo;s operational risk, as we don&rsquo;t know how much it will affect tenants. I&rsquo;d keep a close eye on IIPR moving forward; the company&rsquo;s current 6.7% total yield and low price-to-book ratio are attractive now but may not be sustainable in light of a hemp ban. Only time will tell, but the best-case scenario (in my mind) is a small drop following the hemp ban, presenting a buying opportunity for patient investors.



On the date of publication, Jeremy Flint held no positions in the securities mentioned. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com <a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/">Publishing Guidelines</a>.
<div>Jeremy Flint, an MBA graduate and skilled finance writer, excels in content strategy for wealth managers and investment funds. Passionate about simplifying complex market concepts, he focuses on fixed-income investing, alternative investments, economic analysis, and the oil, gas, and utilities sectors. Jeremy&rsquo;s work can also be found at <a href="https://jeremyflint.work/">www.jeremyflint.work</a>.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/06/farm-bill-2024-3-stocks-that-would-get-smoked-if-hemp-ban-passes/">Farm Bill 2024: 3 Stocks That Would Get Smoked if Hemp Ban Passes</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

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cbdMD announces notification of noncompliance with NYSE American listing standards

cbdMD Q3 Earnings Preview

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
cbdMD (NYSEMKT:<a href="https://investorplace.com/stock-quotes/ycbd-stock-quote/">YCBD</a>) just reported results for the third quarter of 2024.<ul><li>cbdMD reported earnings per share of -15 cents. This was above the analyst estimate for EPS of -62 cents.</li><li>The company reported revenue of $5.17 million.</li><li>This was 4.95% better than the analyst estimate for revenue of $4.93 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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YCBD Stock Earnings: cbdMD Beats EPS, Beats Revenue for Q3 2024

cbdMD, Inc. (YCBD) Q3 2024 Earnings Call Transcript

cbdMD reports Q3 results

Maxim Group analyst Anthony Vendetti maintained a Buy rating on cbdMD (YCBD – Research Report) yesterday and set a price target of $2.00. Anthony V...

Buy Rating Affirmed for cbdMD Amidst Solid Q3 Performance and Promising Growth Prospects

cbdMD announces acceptance of compliance plan by NYSE American

American views on marijuana effects worsening: Gallup

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Press Releases

CBD Life Sciences, Inc. (CBDL) Announces Expanding Revenue Stream With Walmart Marketplace

CBD Life Sciences Inc. (CBDL) Announces Record Revenue Increase of 1405.46% Since February 2024

CBD Life Sciences Inc. (CBDL) Targets Amazon Marketplace for Strategic Business Enhancements

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CBD Life Sciences, Inc. (CBDL) Reaches Unprecedented Heights With Explosive Growth and Strategic Expansion in 2024

CBD Life Sciences Inc. (CBDL) Targets Alibaba as the Next Retail Giant for Wholesale Expansion of Top-Selling CBD Products

CBD Life Sciences, Inc. (CBDL) Announces Strategic MOU With U.S. Armed Forces for Groundbreaking Mushroom Supplement

CBD Life Sciences, Inc. (CBDL) Announces a Staggering 1744.00% Revenue Growth as Innovation and Strategic Expansion Drive Market Dominance

CBD Life Sciences, Inc. (CBDL) Secures Breakthrough Walmart Marketplace Approval for 3000MG Pain Relief Cream, Setting the Stage for Unprecedented Growth

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