에 대한 최신 뉴스 DoorDash (NASDAQ:DASH) 주식

DoorDash

Founded in 2013 and headquartered in San Francisco, DoorDash is an online food order demand aggregator. Consumers can use its app to order food on-demand for pickup or delivery from merchants mainly in the US. Through the acquisition of Wolt in 2022, the firm also provides this service in Europe. DoorDash provides a marketplace for the merchants to create a presence online, market their offerings, and meet demand by making the offerings available for pickup or delivery. The firm provides similar service to businesses in addition to restaurants, such as grocery, retail, pet supplies, and flowers.

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주말 동안 정치 및 비즈니스 뉴스가 쏟아졌다. 전 뉴저지 주지사 크리스 크리스티(Chris Christie)가 대마초와 암호화폐 규제의 미래에 대한 자신의 견해를 공유했으며, 상원 의원 엘리자베스 워런이 트럼프 대통령 당선자와 그의 인수팀이 법적 경계를 넘었다고 비난했다. 또한 트럼프는 일론 머스크와 비벡 라마스와미를 새로운 정부 효율성 부서를 이끌도록 임명할 계획이라고 발표했다.

주간 주요 정치 뉴스: 크리스트의 대마 산업 전망, 머스크의 새로운 역할, 펜타곤 개편 계획 등

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도어대시(NASDAQ:DASH)는 수요일의 시장 마감 후에 3분기 실적을 발표했다. 다음은 보고서의 상세 내용이다. 세부 사항: 도어대시는 주당 38센트의 분기 이익을 발표하여 애널리스트의 컨센서스 예상치인 22센트를 초과하였다. 또한, 분기 매출이 27억 달러로 애널리스트의 컨센서스 예상치인 26.6억 달러를 초과하였으며, 전년 동기 매출 21.6억 달러 대비 증가하였다.

도어대시의 주식은 예상보다 좋은 3분기 실적 발표 후 소폭 상승

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이들 10개 대형주는 지난주 최고의 성과를 거두었다. 그것들이 당신의 포트폴리오에 있나요? 이그젝트 사이언스(NASDAQ:EXAS)가 예상보다 나은 2분기 재무 결과를 보고하고 트윈스트랜드 바이오사이언스(TwinStrand Biosciences)와 독점 라이센스 계약을 발표한 후 주가는 26.60% 상승했다. 몇몇 분석가들은 주식에 대한 가격 예측을 하향 조정했다.

도어대시와 이그젝트 사이언스는 지난주 최고 성과를 보여준 10개 대형주 중 일부 (7월 28일-8월 3일)

DoorDash Inc

Dash - United States Dollar

Leading cryptocurrency analyst Michaël van de Poppe predicts several significant market corrections, even as Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42125642/bitcoin-ethereum-dogecoin-prepping-for-an-early-thanksgiving-btc-is-currently-less-than-one-eth-away-from-100000-says-trader">trades near record highs at $98,192</a>.
What Happened: &#8220;Bitcoin is going to take liquidity on lower levels,&#8221; van de Poppe warned on X, forecasting &#8220;4-6 flash crashes&#8221; before year-end. These corrections could see Bitcoin drop 5-10% in a single day, while alternative cryptocurrencies might experience even steeper declines of 20-30%.
However, van de Poppe suggests these dramatic drops could present strategic entry points for investors. &#8220;After such a flash crash on Bitcoin, that&#8217;s the moment where Bitcoin consolidates, and altcoins shoot off,&#8221; he explained, describing the market&#8217;s rotation pattern.
Despite Bitcoin&#8217;s approach toward $100,000, market sentiment remains notably subdued compared to previous bull runs, suggesting potential volatility ahead as van de Poppe predicts. &#8220;Timing those flash crashes is hard, but they do happen,&#8221; he cautioned, advising investors to prepare for these market movements.
<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">FLASH CRASH! What do you mean? Well, <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> is going to take liquidity on lower levels, it will. There will be crashes of 5-10% on a day.<a href="https://twitter.com/hashtag/Altcoins?src=hash&amp;ref_src=twsrc%5Etfw">#Altcoins</a> might fall 20-30%, which are the days you should activate your entries. However, after such a flash crash on Bitcoin, that&#39;s… <a href="https://t.co/DTbIcs4Kob">pic.twitter.com/DTbIcs4Kob</a>
&mdash; Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1859650485306916953?ref_src=twsrc%5Etfw">November 21, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42125642/bitcoin-ethereum-dogecoin-prepping-for-an-early-thanksgiving-btc-is-currently-less-than-one-eth-away-from-100000-says-trader">Bitcoin, Ethereum, Dogecoin Prep For Early Thanksgiving: &#8216;BTC Is Currently (Less Than) One ETH Away From $100,000,&#8217; Says Trader</a>
Why It Matters: The warning comes amid a broader cryptocurrency market surge, with total market capitalization reaching $3.3 trillion. Major institutions continue showing confidence in the sector, exemplified by MicroStrategy Inc.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) recent $3 billion <a href="https://www.benzinga.com/trading-ideas/movers/24/11/42126020/whats-going-on-with-microstrategy-stock-after-the-bell">convertible note offering to acquire additional Bitcoin</a>.
Supporting van de Poppe&#8217;s market rotation theory, other analysts including Milkybull project an upcoming &#8220;altseason&#8221; extending through March 2025. Technical indicators suggest alternative cryptocurrencies could see significant gains <a href="https://www.benzinga.com/24/11/42030200/bitcoin-dominance-decline-expected-next-month-analyst-projects-altseason-to-peak-by-march-2025">following Bitcoin&#8217;s correction periods</a>.
Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) is trading at $3,324, up 7.71%, in the last 24 hours, while Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>) reached $254.05, gaining 6.79%.
Bitcoin is currently trading at $98,407, up 3.65% in the last 24 hours.
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Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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Bitcoin Analyst Warns Of '4-6 Flash Crashes' Before Year-End As It Inches Closer To $100K: That's The Moment Altcoins 'Shoot Off'

Several US states stand out as having not adopted legal adult-use cannabis or medical marijuana. One of them is <a href="https://www.benzinga.com/markets/cannabis/24/09/40858225/this-gubernatorial-nominees-cannabis-plan-could-generate-172m-annually-for-island-of-prohibition">Indiana</a>, where a new Republican-backed group is calling on state lawmakers to adopt policies to tax and regulate cannabis for adults 21 and older in the state.
A group called Safe and Regulated Indiana, which seeks to reshape Indiana&#8217;s approach to cannabis by focusing on public health, safety, and economic opportunity, came out on Thursday, <a href="https://indianacapitalchronicle.com/briefs/prominent-republicans-back-safe-and-regulated-marijuana-legalization-group/">reported</a> Indiana Capital Chronicle. 
"By embracing a smart and evidence-based approach that prioritizes public health, safety, and economic opportunity, we can give Hoosiers the access that they deserve and demand," said Joe Elsener, the group's spokesman and former Indiana Republican Party executive director.
<h3 class="wp-block-heading">Focus On Regulation, Not Legalization</h3>
Safe and Regulated Indiana's messaging avoids the term "legalization," but rather stresses "regulation."
A multimedia ad campaign <a href="https://app.frame.io/presentations/b3d9e5a9-44e4-4719-ac58-1124fcb33db0">already online </a>promotes the idea of taxing and regulating cannabis like alcohol to generate new tax revenue, reduce illegal drug sales and allow &#8220;new tax revenue for law enforcement,&#8221; to focus on violent crimes. It also claims regulation will put illegal dealers out of business.
"Tell your legislator it's time for safe and regulated marijuana," the ad concludes.
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/09/40858225/this-gubernatorial-nominees-cannabis-plan-could-generate-172m-annually-for-island-of-prohibition">This Gubernatorial Nominee&#8217;s Cannabis Plan Could Generate $172M Annually For &#8216;Island Of Prohibition&#8217; Indiana</a>
Get Benzinga's exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter&nbsp;<a href="https://newsletteremail.benzinga.com/subscribe" target="_blank" rel="noreferrer noopener">here</a>. If you're serious about the business, you can't afford to miss out.
<h3 class="wp-block-heading">Economic And Public Safety Impacts</h3>
Indianapolis City-County Councilor Michael-Paul Hart stated that regulating cannabis like tobacco and alcohol could prevent underage access, create thousands of jobs, and bring "hundreds of millions of dollars of new revenue" to Indiana.
<a href="https://www.benzinga.com/markets/cannabis/23/01/30362663/lawmakers-file-marijuana-bills-in-island-of-prohibition-indiana">Neighboring states </a>like Illinois, Michigan and Ohio have already legalized recreational marijuana, while Kentucky has approved medical cannabis.
However, Indiana's leadership remains resistant. Outgoing Governor Eric Holcomb has long opposed legalization, and Governor-elect Mike Braun recently expressed conditional support for medical cannabis, contingent on law enforcement input. Earlier in 2024, <a href="https://www.benzinga.com/topic/indiana-cannabis">Indiana</a> Democrats introduced <a href="https://www.benzinga.com/markets/cannabis/24/01/36579299/indiana-democrats-propose-bills-to-legalize-medical-and-adult-use-cannabis">bills to legalize</a> medical and adult-use cannabis.
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<li>Read Next: <a href="https://www.benzinga.com/24/11/42120174/can-idaho-lead-the-hemp-industry-perhaps-if-regulations-change">Can Idaho Lead The Hemp Industry? Only If Regulations Change</a></li>
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GOP-Led Group Calls For Legal Cannabis In Indiana: 'Tell Your Legislator It's Time'

A decades-long Danish study has found no significant link between cannabis use and increased age-related cognitive decline in men, challenging persistent <a href="https://www.benzinga.com/markets/cannabis/24/09/40989263/long-term-medical-cannabis-use-has-no-significant-harmful-effects-on-memory-or-impulse-control-n">stereotypes about cannabis consumers.</a>
<h3 class="wp-block-heading">Key Findings</h3>
Researchers from the University of Copenhagen followed 5,162 men over an average of 44 years, examining cognitive aging from early adulthood to late midlife.
See Also: <a href="https://www.benzinga.com/24/11/42122260/study-reveals-psychedelic-ritual-cocktail-in-ancient-egyptian-mug">Study Reveals Psychedelic Ritual Cocktail In Ancient Egyptian Mug</a>
Contrary to common assumptions, the study revealed that cannabis users experienced slightly less cognitive decline than non-users. The average cognitive decline across the participants was 6.2 IQ points, with cannabis users showing 1.3 fewer IQ points of decline compared to non-users.
The findings, <a href="https://onlinelibrary.wiley.com/doi/10.1002/brb3.70136">published</a> in the journal Brain and Behavior, align with prior studies suggesting cannabis use is not associated with greater cognitive impairment in adulthood. 
However, the researchers caution that further investigations are necessary to determine if these results indicate no adverse long-term effects or if the effects of <a href="https://www.benzinga.com/markets/cannabis/24/08/40536603/can-thc-turn-back-the-clock-cannabis-reverses-brain-aging-boosts-mental-capacity-new-study-sugge">cannabis use dissipate over time.</a>
<h3 class="wp-block-heading">Expert Reactions</h3>
"These results contradict one of the more prominent and longstanding stereotypes about cannabis and cannabis consumers,&#8221; said Paul Armentano, deputy director of the National Organization for the Reform of Marijuana Laws (NORML).
"It is even more unfortunate that studies refuting these long-held stereotypes seldom receive the type of mainstream attention they deserve."
<h3 class="wp-block-heading">Context And Broader Implications</h3>
While this study adds to evidence refuting claims of significant cognitive decline in cannabis users, it is essential to note the distinction between adult and adolescent cannabis exposure. 
The US Centers for Disease Control and Prevention (CDC) warns that heavy cannabis use during adolescence may cause permanent changes to the developing brain, which continues to mature until approximately age 25.
In contrast, a separate recent study found <a href="https://www.benzinga.com/markets/cannabis/23/03/31293224/study-asserts-long-term-cannabis-use-leads-to-hippocampal-shrinkage-lower-iq-poor-learning-abil-">no adverse effects</a> on brain structure or cognitive function among adult medical cannabis users after a year of consistent use.
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Long-Term Study Reveals Cannabis May Slow Cognitive Decline: Everything You Need To Know

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Colorado's cannabis industry is facing a steep decline in sales and <a href="https://www.benzinga.com/markets/cannabis/24/05/38712820/legal-cannabis-states-raked-in-20b-since-2014-peaking-at-4b-in-2023-new-report-shows">tax revenue</a>, falling to levels below 2018 figures. Tax collections from marijuana sales peaked at $424 million during the 2020-21 fiscal year but plummeted 41% to $248 million in 2023-24.&nbsp;
<h3 class="wp-block-heading">Hemp THC Sales Bypass Cannabis Regulations</h3>
This downturn, detailed in a recent <a href="https://coloradosun.com/2024/11/21/colorado-marijuana-sales-taxes-intoxicating-hemp/">article</a> in The Colorado Sun, is attributed to increased market competition, falling wholesale cannabis prices, and the rise of so-called intoxicating hemp products. These <a href="https://www.benzinga.com/markets/cannabis/24/01/36584043/real-weed-or-a-lab-high-delta-8-and-delta-9-thc-explained">psychoactive hemp-derived products</a>, such as delta-8 THC, mimic the effects of delta-9 THC but are less potent and have <a href="https://www.benzinga.com/markets/cannabis/24/11/41775784/hemp-vs-marijuana-industry-tensions-rise-amid-rejection-of-cannabis-legalization-in-florida-the-">gained widespread popularity</a>.
Since the legalization of hemp in 2018 under the federal <a href="https://www.benzinga.com/government/regulations/24/11/42068539/billion-dollar-strike-farm-bill-amendment-could-change-the-hemp-industry">Farm Bill</a>, a <a href="https://www.benzinga.com/markets/cannabis/23/01/30442687/controversial-delta-8-thc-products-garner-2b-in-sales-over-2-years-so-whats-the-problem">$2.2 billion quasi-legal market for hemp-derived THC products</a> has emerged. These products, including THC-infused seltzers, gummies, and brownies, often bypass the regulatory framework governing marijuana sales.
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<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>
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As a result, they are <a href="https://www.benzinga.com/markets/cannabis/24/08/40561082/delta-8-thc-exposure-is-lower-in-states-where-recreational-marijuana-is-legal-say-researchers-ba">sold in unlicensed venues</a> such as gas stations and farmers markets, competing directly with Colorado's heavily regulated marijuana market.&nbsp;
&#8220;You&#8217;ve put a pretty robust regulatory structure in place around marijuana, and you have this product that is sort of laughing in the face of that structure,&#8221; said Craig Harper, Joint Budget Committee staff director, at a recent budget hearing, according to The Colorado Sun.
<h3 class="wp-block-heading">Lawmakers Push For Stricter Hemp Rules</h3>
State lawmakers have attempted to curb this competition. In 2023, Colorado restricted intoxicating hemp sales to licensed marijuana retailers.&nbsp;
Meanwhile, state attorneys general, including Colorado's Phil Weiser, <a href="https://www.benzinga.com/markets/cannabis/24/01/36617725/12-state-attorneys-general-to-dea-reschedule-marijuana-to-defend-public-safety-cannabis-stocks-j">are urging Congress to impose stricter federal limits</a> on hemp-derived THC. However, enforcement challenges persist due to <a href="https://www.benzinga.com/government/regulations/24/11/42068539/billion-dollar-strike-farm-bill-amendment-could-change-the-hemp-industry">legal ambiguities</a>.
<h3 class="wp-block-heading">Cannabis Tax Cuts Impact State Programs</h3>
The <a href="https://www.benzinga.com/markets/cannabis/24/08/40641980/denvers-marijuana-revenue-drops-34-but-cannabis-crime-rates-remain-low">declining cannabis tax revenue</a> has forced the state to cut programs funded by these taxes, including delaying a $20 million payment to a public school construction grant program.&nbsp;
Moreover, the Colorado Sun notes Governor Jared Polis has proposed further reductions in marijuana-funded services for the 2025 legislative session.
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/08/40641980/denvers-marijuana-revenue-drops-34-but-cannabis-crime-rates-remain-low">Denver&#8217;s Marijuana Revenue Drops 34%, But Cannabis Crime Rates Remain Low</a>
<h3 class="wp-block-heading">Nationwide Trends Highlight Colorado's Struggles</h3>
Colorado is not alone in experiencing declining cannabis sales. Washington and California, both early adopters of legalization, have reported drops in revenue. However, <a href="https://www.benzinga.com/markets/cannabis/24/10/41322446/is-colorados-cannabis-market-back-on-track-a-5-sales-boost-says-yes">Colorado's 8% year-over-year decline surpasses the national average</a>, highlighting the unique pressures on its market.
As competition from hemp THC products grows and regulatory uncertainties persist, Colorado's marijuana industry faces mounting pressure to adapt.
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<li><a href="https://www.benzinga.com/markets/cannabis/23/10/35244369/cannabis-tax-map-see-how-states-are-cashing-in">Cannabis Tax Map: See How States Are Cashing In</a></li>
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Colorado's Marijuana Sales, Tax Revenue Slump Amid Hemp Competition

<a href="https://www.benzinga.com/startups/24/10/41552860/boeing-plans-to-sell-off-major-assets-as-the-company-scrambles-to-remain-profitable-and-stay-competi">Boeing </a>has initiated layoffs that will impact 2,199 workers in Washington state. The move is part of broader plans to downsize its workforce by about 17,000 amid persistent financial and operational struggles.&nbsp;
According to a notice filed with Washington's Employment Security Department, the aerospace company will continue implementing job cuts nationwide, raising concerns about its trajectory in a highly competitive industry.
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The reductions are part of a strategy announced in October when Boeing revealed plans to reduce its workforce by 10%. The layoffs affect multiple divisions – commercial airplanes, defense and global services – and span facilities in several states, including Missouri, Arizona, South Carolina and its base in Arlington, Virginia.&nbsp;
According to The Seattle Times, these cuts mark one of the largest workforce adjustments Boeing has made in recent years. Before the layoffs, Boeing employed around 66,000 workers in Washington.&nbsp;
Over 400 Society of Professional Engineering Employees in Aerospace (SPEEA) members received notices last week, although these employees will remain on payroll until mid-January.&nbsp;
Trending: This Adobe-backed AI marketing startup went from a $5 to $85 million valuation working with brands like L'Oréal, Hasbro, and Sweetgreen in just three years –<a href="https://www.benzinga.com/money/rad-ai-2"> here's how there's a limited time opportunity to invest at $1,000 for only $0.50/share before it closes TONIGHT.</a>
The Machinists' union also confirmed that many unionized workers recently returned to assembly lines following a nearly two-month strike. In an October call with analysts, Boeing CEO Kelly Ortberg said that the Machinists&#8217; strike wasn't the primary factor driving <a href="https://www.benzinga.com/startups/24/10/41493900/meta-ceo-zuckerberg-dismisses-workers-making-over-six-figures-for-taking-advantage-of-company-food-d">layoffs</a> but was instead tied to overstaffing.
He highlighted challenges in scaling production, particularly for the 737 MAX, under Federal Aviation Administration (FAA) restrictions limiting production to 38 planes per month – a target Boeing has yet to achieve consistently.
According to the FAA, the company's compliance issues contributed to delays in ramping up production. A recent incident involving a detached door plug in flight on an Alaska Airlines plane further eroded confidence in Boeing's safety standards.
Financially, Boeing continues to face turbulence. The company reported a $6.1 billion loss for the third quarter of 2024, citing slower production rates and supply chain disruptions. According to Travel And Tour World, demand for new aircraft remains 15% below pre-pandemic levels, compounding recovery challenges.
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Still, some experts see the layoffs as a calculated step. In an interview on KIRO 7, Scott Hamilton said, "Boeing is bloated and needs to lose some weight – and these cuts will be tough but necessary."
However, critics argue that Boeing's aggressive downsizing will do more harm than good. Ray Goforth, the Executive Director of the Society of Professional Engineering Employees in Aerospace (SPEEA), said in a statement: "Rather than resolve the IAM strike and focus the company's resources on rebuilding the trust of regulators and customers, Boeing leadership has decided to harm every aspect of the company."
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Boeing Announces 2,200 Job Cuts In Washington And Oregon – Is The Aerospace Giant Bracing For Turbulence?

Canopy Growth Corporation&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CGC#NASDAQ">CGC</a>) stock has fallen significantly from its recent highs in May 2024.
After reaching a peak of $16.41, the stock now trades around $3.93, raising questions about its potential for recovery and long-term investment viability. In this article, we take a closer look at Canopy&#8217;s medium-term performance and provide insights for investors who might be curious about this key industry player.
<h3 class="wp-block-heading">Fibonacci Analysis: Key Resistance And Support Levels</h3>
A Fibonacci retracement analysis shows that the stock has retraced to the&nbsp;78.6% level (circa $3.86), a critical support point. Holding above this level could trigger a potential bounce, while failure to do so risks further declines toward the pre-rally starting point of&nbsp;$2.57.
On the upside, the&nbsp;61.8% retracement level (circa $6.36)&nbsp;represents a significant resistance zone. The stock tested this level twice: once during the last week of October and again during the first week of November. Breaking through this resistance would signal renewed investor confidence and could open the door to testing the&nbsp;50% level ($8.50) &#8211; a psychologically important milestone.
The company reported&nbsp;$1.23 billion in total assets&nbsp;for the <a href="https://www.benzinga.com/news/earnings/24/11/41843751/canopy-growth-q2-net-revenue-drops-9-yoy-projects-positive-earnings-ahead">most recent quarter</a>, with&nbsp;$509.668 million in shareholder equity&nbsp;and a&nbsp;market capitalization of $396.154 million.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="781" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/21175121/Captura-de-pantalla-2024-11-21-a-las-19.50.57-1024x781.png" alt="" class="wp-image-659928" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/21175121/Captura-de-pantalla-2024-11-21-a-las-19.50.57-1024x781.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/21175121/Captura-de-pantalla-2024-11-21-a-las-19.50.57-300x229.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/21175121/Captura-de-pantalla-2024-11-21-a-las-19.50.57-768x586.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/21175121/Captura-de-pantalla-2024-11-21-a-las-19.50.57.png 1416w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Chart created using <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41230957/why-canopys-brand-first-strategy-could-set-it-apart-from-tilray-and-aurora-heres-wh">Why Canopy&#8217;s &#8216;Brand-First&#8217; Strategy Could Set It Apart From Tilray And Aurora – Here&#8217;s What Investors Should Watch</a>
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.
<h3 class="wp-block-heading">Is Canopy A Good Investment?</h3>
At current levels, Canopy Growth presents a high-risk, high-reward profile, similar to other <a href="https://www.benzinga.com/topic/cannabis-stocks">cannabis companies</a>. The&nbsp;78.6% retracement support&nbsp;makes it appealing for speculative investors betting on a recovery. However, if the stock falls below $3.86, further declines could follow, raising concerns about profitability and long-term sustainability.
In the short term, there may be trading opportunities, but careful monitoring of other technical indicators is necessary.
For long-term investors, Canopy's future depends on its ability to<a href="https://www.benzinga.com/general/market-summary/24/11/42100955/the-u-s-cannabis-strategy-no-ones-talking-about-inside-canopys-300m-plan"> grow revenue</a>,<a href="https://www.benzinga.com/markets/cannabis/24/10/41381387/canopy-growth-slashes-debt-with-100m-loan-prepayment-saves-14m-in-interest"> reduce debt</a>, and capitalize on the U.S. market: something that the company seems to be <a href="https://www.benzinga.com/general/market-summary/24/11/42100955/the-u-s-cannabis-strategy-no-ones-talking-about-inside-canopys-300m-plan">set to do</a>. But, from a technical standpoint, until the stock breaks above&nbsp;circa $6.36, signaling a broader reversal, caution is recommended.
<ul>
<li>Read Also: <a href="https://www.benzinga.com/general/market-summary/24/11/42100955/the-u-s-cannabis-strategy-no-ones-talking-about-inside-canopys-300m-plan">The U.S. Cannabis Strategy No One&#8217;s Talking About: Inside Canopy&#8217;s $300M Plan</a></li>
</ul>
Cover: Benzinga Pro

What's Happening With Canopy Growth: Is It Time To Buy?

According to an SEC <a href="https://www.sec.gov/ix?doc=/Archives/edgar/data/1498710/000095010324016405/dp220813_8k.htm">filing</a>, Spirit Airlines, Inc. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SAVEQ#OTC">SAVEQ</a>) CEO Ted Christie was paid a $3.8 million retention bonus just one week before the budget airline<a href="https://www.benzinga.com/24/11/42032477/spirit-airlines-eyes-financial-stability-with-chapter-11-filing-and-equity-injection"> filed for bankruptcy. </a>
The Details: Spirit Airlines <a href="https://www.benzinga.com/pressreleases/24/11/n42030743/spirit-airlines-announces-comprehensive-agreement-to-deleverage-balance-sheet-and-position-the-com">filed for</a> Chapter 11 bankruptcy protection on Monday and announced a comprehensive balance sheet restructuring plan aimed at reducing its debt and allowing the airline to continue <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/42083607/as-spirit-airlines-files-for-bankruptcy-experts-weigh-potential-impact-on-flight-prices-this-is-not-a-black-and-white-situation">to operate</a> through the bankruptcy process.&nbsp;
Spirit's existing bondholders agreed to take a $350 million ownership position in a reorganized airline and erased $795 million of debt. They also agreed to provide $300 million of debt-in-possession financing, giving Spirit access to cash that will allow it to continue to pay employee wages and benefits through its reorganization.
Read Next: <a href="https://www.benzinga.com/news/global/24/11/42101365/indian-billionaire-one-of-the-worlds-richest-men-indicted-for-alleged-250-million-bribery-scheme">Indian Billionaire, One Of The World&#8217;s Richest Men, Indicted For Alleged $250 Million Bribery Scheme</a>
"This set of transactions will materially strengthen our balance sheet and position Spirit for the future while we continue executing on our strategic initiatives to transform our guest experience, providing new enhanced travel options, greater value and increased flexibility," Christie said. 
The troubled airline also saw its stock delisted from the New York Stock Exchange (the ticker was SAVE) and is now trading in the over-the-counter marketplace. Spirit disclosed the shares are expected to be canceled and will have no value when the reorganization process is completed. 
Spirit <a href="https://www.sec.gov/ix?doc=/Archives/edgar/data/1498710/000095010324016405/dp220813_8k.htm">approved</a> large retention bonuses for its top executives on Nov. 12, six days before the company announced the restructuring and filed for bankruptcy. CEO Christie&#8217;s retention bonus was $3.8 million, which he gets to keep if he remains with the company for another year.  
Read More:&nbsp;
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<li><a href="https://www.benzinga.com/general/social-media/24/11/42119493/rumble-eyes-buying-bitcoin-could-it-be-the-next-microstrategy">Rumble CEO Considers Bitcoin Investment, Engages Michael Saylor As Shares Rally</a></li>
</ul>
Photo: Courtesy of Spirit Airlines, Inc.

Travel

Management

SAVE

SAVEQ

Spirit Airlines CEO Gets $3.8 Million Bonus 1 Week Before Company Files Bankruptcy

Best known for providing election polls and analysis, Nate Silver has a new prediction, or rather a suggestion that Vice President Kamala Harris should become president, despite losing the <a href="https://www.benzinga.com/news/24/11/41768178/donald-trump-defeats-kamala-harris-to-win-2024-election">2024 presidential election.</a>
What Happened: Silver doesn't think that Harris should be declared the winner of the 2024 presidential election, but rather should take over for outgoing President Joe Biden for the remainder of his term ahead of Donald Trump's <a href="https://www.benzinga.com/general/social-media/24/11/41784933/donald-trumps-wealth-soars-with-2024-election-win-heres-how-much-president-elect-is-worth-ho">return to the White House.</a>
"Is there any particular reason to assume Biden is competent to be president right now? It's a very difficult job. It's a dangerous world. Extremely high-stakes decisions in Ukraine. He should resign and let Harris serve out the last two months," Silver <a href="https://x.com/NateSilver538/status/1859267392578179197">tweeted</a>.
The comments from Silver come after it was reported that Biden avoided the press while in South America for the G-20 summit, as <a href="https://nypost.com/2024/11/20/us-news/pollster-nate-silver-calls-on-biden-to-resign-after-claiming-he-isnt-competent-let-harris-serve/">reported </a>by the New York Post.
Did You Know?
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<li>Congress Is Making Huge Investments. <a href="https://www.benzinga.com/gov-trades/?utm_source=BZprocontent112124">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>
Why It's Important: Age has been an important topic during the 2024 election cycle with Biden 82 years old and President-elect Trump 78 years old.
When Biden leaves the White House, he will break the record for the oldest president at the end of their term by more than four years, surpassing Ronald Reagan who was nearly 78 when he left the White House in 1989.
Trump will break the record for the oldest president at the start of a term, breaking Biden's current record of 78 years, 61 days set in January 2021.
Silver previously argued Biden should be replaced on the Democratic ticket for the 2024 election, an event that came true after Biden withdrew from the race after a poor showing in the first presidential debate.
Biden<a href="https://www.benzinga.com/news/econ-s/24/11/42038707/gold-natural-gas-prices-rally-us-russia-tensions-escalate-over-ukraines-long-range-strikes"> recently authorized</a> Ukraine to use U.S.-supplied missiles in their attacks against Russia, an event that has escalated tensions in Europe and led to more concerns about the president's decisions during his last remaining time in the White House.
If Biden were to step down, Harris would become the first female president of the U.S., although it would come as a short-time event and after American voters have still not elected a female president to the White House.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41752969/nate-silvers-closest-call-yet-how-2024s-election-stands-apart-from-his-predictions-in-2016">Nate Silver&#8217;s Closest Call Yet: How 2024&#8217;s Election Stands Apart From His Predictions In 2016 And 2020</a></li>
</ul>
Photo: Shutterstock

Global

Nate Silver Says Biden Should Resign, Have Harris Take Over Presidency: 'It's A Very Difficult Job'

Germany&#8217;s medical cannabis imports reached 20.1 tons in Q3 2024, a substantial increase from previous quarters. This surge follows the April 2024 revision of the country&#8217;s narcotics law, which has facilitated greater access to medical cannabis. 
Despite this growth, medical cannabis users still represent less than 0.3% of the population, indicating significant potential for market expansion.
<ul>
<li>Get Benzinga&#8217;s exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter&nbsp;<a href="https://newsletteremail.benzinga.com/subscribe" target="_blank" rel="noreferrer noopener">here</a>. You can't afford to miss out if you&#8217;re serious about the business.</li>
</ul>
<h3 class="wp-block-heading">Rejection Rates And Market Dynamics</h3>
Historically, approximately 40% of imported cannabis in Germany has been either rejected or re-exported, with pharmacies purchasing about 60% of imports, according to analyst <a href="https://zuanicgroup.com/">Pablo Zuanic</a> of Zuanic and Associates.
In Q3 2024, as importers rushed to build inventories, rejection rates likely increased, potentially resulting in pharmacies purchasing between 50% and 55% of imports. 
This suggests that out of the 20.1 tons imported, pharmacies acquired between 10 and 11 tons, doubling the levels seen before the April reforms.
<h3 class="wp-block-heading">Shifts In Exporter Market Shares</h3>
<a href="https://www.benzinga.com/topic/canada-cannabis">Canada</a> remains the largest supplier, exporting 8.1 tons to<a href="https://www.benzinga.com/topic/germany-cannabis"> Germany</a> in Q3 2024. However, its market share declined to 40% from 59% in Q1.&nbsp;Several Canadian companies actively operate in Germany's cannabis market, including Aurora Cannabis Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACB#NASDAQ">ACB</a>), Canopy Growth Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CGC#NASDAQ">CGC</a>), and Tilray Brands Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLRY#NASDAQ">TLRY</a>), leveraging their expertise in cultivation and distribution to meet the growing demand.
<a href="https://www.benzinga.com/topic/portugal-cannabis">Portugal</a>&#8216;s share increased to 21%, with <a href="https://www.benzinga.com/topic/denmark">Denmark</a> at 13%, and Spain and Uruguay each contributing 5%. Notably, the Netherlands&#8217; share dropped to 2% from 8% in 2023.
Read Also: <a href="https://www.benzinga.com/general/market-summary/24/11/42100955/the-u-s-cannabis-strategy-no-ones-talking-about-inside-canopys-300m-plan">The U.S. Cannabis Strategy No One&#8217;s Talking About: Inside Canopy&#8217;s $300M Plan</a>
<h3 class="wp-block-heading">Implications For The Market</h3>
The annualized value of Germany&#8217;s medical cannabis market is estimated at €352 million (US$375 million). According to Zuanic, "With less than 0.3% of the population currently using medical cannabis, the market remains underdeveloped but has immense growth potential."
Zuanic explains that if Germany reaches a 1% penetration rate, similar to Canada&#8217;s, "that would imply more than 4-5x upside." However, achieving this growth will require <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">addressing key challenges</a>. "More consistent and ample supplies across price and quality spectrums, new formats being allowed, and streamlined prescription systems."
Despite these hurdles, Zuanic says he is still optimistic. "It is still early days, but the German medical cannabis market could accelerate as these issues along the supply chain improve," he added, signaling the potential for significant expansion in this nascent market.
Read Next: <a href="https://www.benzinga.com/markets/cannabis/24/11/41997646/tilray-joins-german-cannabis-fiesta-with-first-locally-grown-strains">Tilray Joins German Cannabis Fiesta With First Locally Grown Strains</a>

Market Summary

Emerging Markets

Entrepreneurship

Eurozone

Retail Sales

Success Stories

TLRY

German Cannabis: 20 Tons, 10M Grams - And That's Only 0.3% Of The Market, What's Missing?

UBS analyst Colin Bristow maintains Gilead Sciences (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GILD#NASDAQ">GILD</a>) with a Neutral and raises the price target from $70 to $96.

Price Target

Analyst Ratings

GILD

UBS Maintains Neutral on Gilead Sciences, Raises Price Target to $96

Since its launch in 2018, CUPRA, the first new automotive brand created within the Volkswagen Group, has sold over 750,000 cars.&nbsp;
&nbsp;

VWAGY

Spain Car Brand CUPRA Says It Is In Preliminary Talks With Penske Automotive Group To Explore Partnership In US

This collaboration provides Inspirato members with access to BLADE's helicopter services, bringing them closer to Inspirato's luxury destinations with unmatched convenience and style.

BLDE

ISPO

Inspirato Enters Strategic Partnership With BLADE  Urban Air Mobility

Editor&#8217;s note: This story has been updated to remove references to an individual that lacked context and relevance. 
Crude oil WTI futures saw a slight uptick following a significant phone call between President-elect Donald Trump and Russian President Vladimir Putin.
What Happened: At the time of writing, Crude Oil WTI Futures was up 0.18% at $70.25 per barrel on Monday during pre-market hours.
President-elect Trump reportedly had a phone discussion with President Putin on Thursday, marking their first interaction since Trump&#8217;s election win, The Washington Post <a href="https://www.washingtonpost.com/national-security/2024/11/10/trump-putin-phone-call-ukraine/">reported</a> on Sunday. Trump urged Putin to refrain from escalating the Ukraine conflict, highlighting the substantial U.S. military presence in Europe. The dialogue also included discussions on achieving peace across Europe, with Trump expressing interest in further talks to hasten a resolution to the Ukraine issue. 
These developments could have contributed to a rise in Crude Oil WTI Futures. The market often responds to potential de-escalation in geopolitical tensions, which can ease supply concerns and potentially lower prices.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41869034/skyrocketing-bitcoin-nears-80000-milestone-on-optimism-over-trump?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin Surges Past $80,000 Milestone For First Time On Optimism Over Trump</a>
Why It Matters: The phone call between <a href="https://www.benzinga.com/news/global/24/11/41865062/putin-congratulates-trump-on-2024-election-victory-russian-leader-said-president-elect-manly-for-how-he-handled-assassination-attempt">Trump and Putin</a> comes amid heightened scrutiny of Russian oil trade. The U.S. Justice Department has been intensifying efforts to enforce sanctions on Russia&#8217;s energy exports. 
Additionally, Russian oil has found its way to U.S. shores through a <a href="https://www.benzinga.com/news/earnings/24/02/36888966/russian-oil-hits-us-shores-under-sanction-busting-loophole">sanction-busting loophole</a>, despite a ban on its import following Russia&#8217;s invasion of Ukraine. 
Oil prices have been volatile lately, with <a href="https://www.benzinga.com/economics/macro-economic-events/24/11/41715076/oil-prices-spike-by-over-3-as-opec-delays-production-increases-ahead-of-us-electi">OPEC+ recently delaying production </a>increases ahead of the U.S. elections, causing a spike in prices.
Meanwhile, Oil prices remained relatively stable on Monday as concerns over potential supply disruptions from a U.S. storm subsided, and China's recent stimulus measures underwhelmed investors hoping for a boost in fuel demand from the world's second-largest oil consumer. Brent crude futures edged up by 4 cents, reaching $73.91 per barrel by 0714 GMT, while U.S. West Texas Intermediate (WTI) crude slipped 7 cents to $70.31 per barrel.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41868204/cryptocurrencies-rally-following-trump-victory-el-salvadors-bitcoin-bet-pays-off-and-more-top-crypto-updates-this-week?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Cryptocurrencies Rally Following Trump Victory, El Salvador&#8217;s Bitcoin Bet Pays Off And More: Top Crypto Updates This Week</a></li>
</ul>
Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
Photo by Evan El-Amin and Frederic Legrand &#8211; COMEO on Shutterstock

Commodities

Trump Reportedly Urges Russian President To Deescalate War With Ukraine: Here's How Crude Oil WTI Futures Are Reacting (UPDATED)

MicroStrategy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) shares are climbing after-hours after the company announced it completed its previously announced offering of its 0% convertible <a href="https://www.benzinga.com/pressreleases/24/11/b42122992/microstrategy-completes-3-000-000-000-offering-of-0-convertible-senior-notes-due-2029">senior notes due 2029.&nbsp;</a>
The Details: MicroStrategy said the aggregate principal amount of the notes sold in the offering was $3 billion, which includes $400 million aggregate principal amount of notes issued pursuant to an option to purchase.&nbsp;
Read More: <a href="https://www.benzinga.com/general/social-media/24/11/42119493/rumble-eyes-buying-bitcoin-could-it-be-the-next-microstrategy">Rumble CEO Considers Bitcoin Investment, Engages Michael Saylor As Shares Rally</a>
The net proceeds from the sale of the notes were approximately $2.97 billion, after deducting the initial purchasers&#8217; discounts and commissions and estimated offering expenses payable by the company.&nbsp;
MicroStrategy intends to use the net proceeds from the sale of the notes to acquire additional Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and for general corporate purposes. MicroStrategy holds a total of 331,200 Bitcoin purchased at an average price of approximately $49,874 per coin as of Nov. 17.
What Else: MicroStrategy shares fell more than 16% in Thursday's regular session after short-seller Citron Research's Andrew Left announced he took a new <a href="https://www.benzinga.com/24/11/42118133/short-seller-andrew-left-targets-microstrategy-stock-as-hedge-against-bullish-bitcoin-bet-completely-detached-from-btc-fundamentals">short position</a> in the stock which has rallied more than 50% since President-elect Donald Trump won the election on Nov. 5.&nbsp;
"Fast forward to today: $MSTR has skyrocketed to over $5,000 (adjusted) … while Citron remains bullish on Bitcoin, we&#8217;ve hedged with a short $MSTR position," Left said. "Much respect to @saylor, but even he must know $MSTR is overheated," Citron Research wrote in a post on X.&nbsp;
MSTR Price Action: According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, MicroStrategy shares are up 5.48% after-hours at $410.05 at the time of publication Thursday.&nbsp;
Read More:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/trading-ideas/movers/24/11/41949068/bitcoin-could-reach-1-million-by-2037-economist-says-buy-of-a-lifetime-opportunity">Bitcoin Could Reach $1 Million By 2037, Economist Says: &#8216;Buy Of A Lifetime&#8217; Opportunity</a></li>
</ul>
Photo: Courtesy of MicroStrategy, Inc.

Short Sellers

What's Going On With MicroStrategy Stock After The Bell?

AESI

Atlas Energy Solutions To Replace Mueller Industries In S&P SmallCap 600

Mueller Industries To Replace Texas Pacific Land In S&P MidCap 400

Cannabis stocks reacted with mixed results on Thursday after Matt Gaetz <a href="https://www.benzinga.com/24/11/42119848/matt-gaetz-withdraws-name-from-ag-nomination-calls-sex-trafficking-controversy-a-distraction">withdrew his nomination</a> for U.S. Attorney General amid <a href="https://www.benzinga.com/news/legal/24/11/42078192/trumps-attorney-general-pick-matt-gaetz-resigned-from-congress-ethics-committee-to-decide-if-report-will-be-released">allegations</a> of sexual misconduct, drug use, lack of legal experience and more. Last week, President-elect Donald Trump <a href="https://www.benzinga.com/news/legal/24/11/41959036/trump-nominates-another-cannabis-supporter-to-cabinet-rep-matt-gaetz-for-attorney-general">nominated</a> Gaetz who is a long-time supporter of cannabis legalization. 
While Gaetz's exit may not be directly tied to the sector's performance, multi-state operators (MSOs) and cannabis ETFs recorded notable declines, reflecting ongoing investor jitters in a politically sensitive market.
<ul>
<li>Get Benzinga's exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter&nbsp;<a href="https://newsletteremail.benzinga.com/subscribe" target="_blank" rel="noreferrer noopener">here</a>. You can&#8217;t afford to miss out if you're serious about the business.</li>
</ul>
<h3 class="wp-block-heading">MSOs Slides, Sector Faces Pressure</h3>
The AdvisorShares Pure US Cannabis ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSOS#NYSE">MSOS</a>), often viewed as a benchmark for MSOs, dropped by -4.31%, closing at $4.56. This decline highlights the continued uncertainty in the cannabis space, as investors reassess the implications of a reshuffling political landscape.
Curaleaf Holdings Inc. (OTCQX:<a class="ticker" href="https://www.benzinga.com/stock/CURLF#OTCQX">CURLF</a>), one of the largest MSOs in the U.S., shed -4.10%, finishing the day at $1.99. Trulieve Cannabis Corp. (OTCQX:<a class="ticker" href="https://www.benzinga.com/stock/TCNNF#OTCQX">TCNNF</a>) was not far behind, falling -1.93% to $6.11. Meanwhile, Cresco Labs Inc. (OTCQX:<a class="ticker" href="https://www.benzinga.com/stock/CRLBF#OTCQX">CRLBF</a>) dropped -5.74%, closing at $1.15.While some MSOs struggled, Green Thumb Industries (OTCQX:<a class="ticker" href="https://www.benzinga.com/stock/GTBIF#OTCQX">GTBIF</a>) managed to stay in positive territory closing at $9.30.
<h3 class="wp-block-heading">Sundial Stands Out</h3>
Sundial Growers Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNDL#NASDAQ">SNDL</a>) defied the broader sector trends, climbing 1.79% to end the day at $1.995. Other gainers included Tilray Brands Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLRY#NASDAQ">TLRY</a>), which rose 1.94% to $1.315, and Canopy Growth Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CGC#NASDAQ">CGC</a>), up 2.53% to $3.855.
<h3 class="wp-block-heading">Deep Declines&nbsp;</h3>
Thursday saw significant losses among smaller players, with Cansortium Inc. (OTCQX:<a class="ticker" href="https://www.benzinga.com/stock/CNTMF#OTCQX">CNTMF</a>) plunging -22.72%, closing at $0.0711. iAnthus Capital Holdings Inc. (OTCQX:<a class="ticker" href="https://www.benzinga.com/stock/ITHUF#OTCQX">ITHUF</a>) also struggled, dropping -11.43% to $0.00558.
Read Next: <a href="https://www.benzinga.com/markets/cannabis/24/11/42122634/gop-bathroom-battle-cannabis-advocate-nancy-mace-will-stand-in-the-way-of-any-man-who-tries-to-get-into-womens-room">GOP Bathroom Battle: Cannabis Advocate Nancy Mace Will &#8216;Stand In The Way Of Any Man&#8217; Who Tries To Get Into Women&#8217;s Room</a>

ETFs

CNTMF

CRLBF

CURALEAF HLDGS INC by Curaleaf Hldgs Inc.

CURLF

GTBIF

ITHUF

MSOS

SNDL

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The global food delivery market is surging, propelled by shifting consumer preferences and a growing demand for convenience. In this dynamic landscape, fundamentally sound food delivery stocks Uber Technologies (UBER), DoorDash (DASH), and Olo (OLO) stand out as key players poised to seize emerging opportunities. Read on... The booming food delivery market, driven by hyperlocal expansion and improved operational efficiency, is creating significant investment opportunities. Industry leaders like Uber Technologies, Inc. (<a href="https://stocknews.com/stock/UBER/">UBER</a>), DoorDash, Inc. (<a href="https://stocknews.com/stock/DASH/">DASH</a>), and Olo Inc. (<a href="https://stocknews.com/stock/OLO/">OLO</a>) are leveraging technology and localized strategies to address rising consumer demand for faster, more efficient delivery services. As the global food service sector expands, these companies are well-positioned for growth, making them compelling prospects for investors.
The rapid growth of urban areas and the expanding middle class have driven a surge in demand for convenient dining options. As busy lifestyles create a greater need for efficiency, online food delivery services have flourished, with customers increasingly opting to order from a wide variety of restaurants at the touch of a button.
Narrowing the focus, a key emerging trend is the hyperlocal expansion of food delivery services. Companies are targeting specific neighborhoods and areas within cities to shorten delivery times, boost operational efficiency, and elevate customer satisfaction. As a result, the global food service industry is projected to grow to $4.43 trillion by 2028 at a <a href="https://www.statista.com/statistics/1095667/global-food-service-market-size/">CAGR of 9.9%</a>.
Considering these conducive trends, let's examine the food delivery stocks in detail.
Uber Technologies, Inc. (<a href="https://stocknews.com/stock/UBER/">UBER</a>)
UBER is a global technology platform offering mobility, delivery, and freight solutions. It connects end-users with transportation options, food and retail deliveries, and logistics services, catering to consumers, retailers, and businesses across regions worldwide.
On October 29, 2024, UBER announced it would now accept SNAP EBT payments, making nutritious food more accessible to millions of Americans. This initiative includes partnerships with major grocery giants to make payment options for eligible grocery and pharmacy items.
On October 3, UBER announced a multiyear partnership with Avride to integrate Avride's autonomous vehicles and delivery robots into Uber and Uber Eats services. This collaboration aims to expand Avride's robotic fleet within Uber Eats by 2025 and introduce a robotaxi service, enhancing the convenience of autonomous delivery and transportation for users.
During the fiscal third quarter that ended September 30, 2024, UBER's revenue increased 20.4% year-over-year to $11.19 billion. Its <a href="https://www.investopedia.com/terms/i/ifo.asp">income from operations</a> grew 169.3% from the year-ago value to $1.06 billion. In addition, the net income attributable to Uber Technologies, Inc. came in at $2.61 billion and $1.20 per share, up 1081.9% and 1100% over the prior-year quarter, respectively.
Analysts expect UBER's revenue for the quarter ending December 31, 2024, to increase to $11.78 billion by 18.5% year-over-year. The EPS for the same period is expected to be $0.50. It surpassed the Street EPS and revenue estimates in three of the trailing four quarters.
Over the past year, the stock has gained 26.6% to close the last trading session at $69.33. It soared 12.6% year-to-date.
UBER's <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a> reflect its robust outlook. The POWR Ratings are calculated by considering 118 distinct factors, with each factor weighted to an optimal degree.
UBER has an A grade in Sentiment and a B grade in Quality. It is ranked #42 out of 78 stocks in the B-rated <a href="https://stocknews.com/category/technology-services/">Technology - Services</a> industry.
Beyond what we have stated above, we also have given UBER grades for Growth, Value, Momentum, and Stability. Get all the UBER's ratings <a href="https://stocknews.com/stock/UBER/">here</a>.
DoorDash, Inc. (<a href="https://stocknews.com/stock/DASH/">DASH</a>)
DASH is a global platform that links merchants, consumers, and contractors, offering marketplaces (DoorDash, Wolt), membership products (DashPass), delivery fulfillment (Drive), and e-commerce tools (Storefront, Bbot) to support order fulfillment, customer acquisition, and digital ordering solutions.
On October 30, 2024, DASH and Lyft, Inc. (<a href="https://stocknews.com/stock/LYFT/">LYFT</a>) partnered to offer shared benefits: DashPass members receive monthly rideshare perks, and eligible Lyft riders get a free DashPass trial. This partnership enhances value for DashPass users with added savings on rides alongside delivery benefits.
On October 8, DASH expanded its partnership with Wegmans to offer grocery delivery from all Maryland locations, with more states to follow. This addition complements their existing Wegmans Meals 2GO service, broadening DoorDash's grocery offerings.
In the fiscal third quarter ended September 30, 2024, DASH's revenues increased 25% year-over-year to $2.71 billion. It reported income from operations of $107 million, compared to a loss of $108 million in the year-ago quarter. Moreover, net income attributable to DoorDash, Inc. common and net income per share attributable to DoorDash, Inc. Class A and Class B common stockholders stood at $162 million and $0.38, respectively, from a loss compared to that of the prior-year quarter of $73 million and $0.19, respectively.
Street expects DASH's revenue and EPS for the quarter ending December 31, 2024, to increase 121.1% and 23% year-over-year to $2.83 billion and $0.93, respectively. It surpassed the consensus EPS estimates in all of the trailing four quarters, which is impressive.
The stock climbed 74.7% year-to-date and 80.4% over the past year, to close the last trading session at $172.73.
DASH's POWR Ratings reflect strong prospects. The stock has an overall rating of B, translating to a Buy in our proprietary rating system.
It has an A grade for Growth and a B for Sentiment and Quality. It is ranked #8 out of 25 stocks in the <a href="https://stocknews.com/category/internet-services/">Internet - Services</a> industry.
To access DASH's Momentum, Stability, and Value ratings, click <a href="https://stocknews.com/stock/DASH/">here</a>.
Olo Inc. (<a href="https://stocknews.com/stock/OLO/">OLO</a>)
OLO provides a SaaS platform supporting U.S. restaurants' digital operations, including ordering, delivery, and payment solutions. Its offerings include "Order" for managing digital orders and delivery, "Engage" for marketing and guest relationship enhancement, and "Pay" for secure, streamlined payment processing with fraud prevention.
On November 7, 2024, OLO announced a new menu integration with ezCater aimed at simplifying catering menu management for restaurants. This partnership enhances catering operations, offering restaurants a growth opportunity with larger order sizes and potential for repeat business, while improving guest experiences.
OLO's total revenue increased 24.3% year-over-year to $71.85 million in the fiscal third quarter that ended on September 30, 2024. Its non-GAAP operating income grew 44.9% from the year-ago value to $8.23 billion. Its non-GAAP net income came in at $10.39 million, up 37.4% year-over-year, while its non-GAAP net income per share attributable to Class A and Class B common stockholders grew 50% from the year-ago value to $0.06.
Street expects OLO's revenue for the fiscal fourth quarter (ending December 2024) to increase 15.5% year-over-year to $72.75 million. Its EPS for the same quarter is expected to grow 33.3% from the prior year to $0.07. In addition, it surpassed the consensus EPS and revenue estimates in each of the trailing four quarters.
Shares of OLO have gained 26.8% over the past year and 12.4% year-to-date to close the last trading session at $6.43.
OLO's bright prospects are apparent in its POWR Ratings. The stock has an overall rating of B, which translates to a Buy in our proprietary rating system.
It has an A in Sentiment and a B grade for Growth. Within the A-rated <a href="https://stocknews.com/category/software-saas/">Software - SAAS</a> industry, it is ranked #10 out of 18 stocks.
Click <a href="https://stocknews.com/stock/OLO/">here</a> to see OLO's ratings for Momentum, Value, Stability, and Quality.
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UBER shares fell $0.47 (-0.68%) in premarket trading Tuesday. Year-to-date, UBER has gained 12.60%, versus a 24.91% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Kritika Sarmah</h2> <img src='https:/wp-content/uploads/2022/08/Kritika-Sarmah_Image-3.jpg' style="float:left; padding:5px;width:125px;">Her interest in risky instruments and passion for writing made Kritika an analyst and financial journalist. She earned her bachelor's degree in commerce and is currently pursuing the CFA program. With her fundamental approach, she aims to help investors identify untapped investment opportunities.<a href="https://stocknews.com/authors/?author=kritika-sarmah">More...</a>The post <a href=https://stocknews.com/news/uber-dash-olo-3-food-delivery-stocks-capitalizing-on-consumer-trends/>3 Food Delivery Stocks Capitalizing on Consumer Trends</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

3 Food Delivery Stocks Capitalizing on Consumer Trends

RiverPark Long/Short Opportunity Fund Q3 2024 Investor Letter

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