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에 대한 최신 뉴스 Dropbox (NASDAQ:DBX) 주식

Dropbox

Dropbox is a leading provider of cloud-storage and content collaboration tools with an emphasis on individuals and SMB. The company was founded in 2007 and was a pioneer in cloud storage and cross-platform file syncing. Utilizing inorganic and organic means, the firm has been working on diversifying its product mix and pivoting away from the cloud-storage space.

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목요일 시장 마감 후 드롭박스(NASDAQ:DBX)가 1분기 재무 결과를 발표했다.여기에서 자세한 내용을 살펴보자.  주요 사항 (The Details): 드롭박스는 분기별 주당 이익을 58센트로 보고했는데, 이는 분석가들의 합의 추정치인 50센트를 16% 앞선 것이다. 분기별 매출은 6억 3,130만 달러로 분석가 컨센서스 추정치인 6억 2,867만 달러를 웃돌았으며 지난해 같은 기간보다 매출 6억 1,110만 달러보다 3.31% 증가했다.

드롭박스: 1분기 매출 및 EPS가 예상치를 상회, 주가 상승

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Prominent Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) investor Ross Gerber blasted Tesla&#8217;s <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41988194/trump-plans-to-erase-ev-tax-credit-analyst-says-its-net-bullish-calls-sell-off-wrong-knee-jerk-reaction">reported support for eliminating the $7,500 federal electric vehicle tax credit</a>, calling the position &#8220;insanity&#8221; on social media platform X. 
What Happened: The CEO of Gerber Kawasaki Wealth and Investment Management was responding to reports that Tesla is backing the President-elect Donald Trump administration&#8217;s plans to end the incentive.
The move appears to contradict Tesla&#8217;s stated mission of accelerating the world&#8217;s transition to sustainable transport. According to a recent Reuters report, Tesla has <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41988194/trump-plans-to-erase-ev-tax-credit-analyst-says-its-net-bullish-calls-sell-off-wrong-knee-jerk-reaction">indicated support for removing the tax credit</a> despite having previously lobbied for the incentive, which has boosted the company&#8217;s U.S. sales in recent years.
The shift in Tesla&#8217;s stance comes as CEO Elon Musk, who has endorsed Trump, reportedly believes eliminating the credit would harm competitors more than Tesla. This marks a departure from Musk&#8217;s previous positions, including his resignation from Trump&#8217;s business council in 2017 over the U.S. withdrawal from the Paris climate agreement.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Insanity. <a href="https://twitter.com/search?q=%24tsla&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$tsla</a> <a href="https://twitter.com/hashtag/tesla?src=hash&amp;ref_src=twsrc%5Etfw">#tesla</a> <a href="https://t.co/Yn0EfTlQu8">https://t.co/Yn0EfTlQu8</a>
&mdash; Ross Gerber (@GerberKawasaki) <a href="https://twitter.com/GerberKawasaki/status/1857133916370657302?ref_src=twsrc%5Etfw">November 14, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/24/11/41998258/cathie-wood-keeps-betting-on-amazons-haul-play-ark-loads-up-6m-worth-of-shares">Cathie Wood Keeps Betting On Amazon&#8217;s &#8216;Haul&#8217; Play: Ark Loads Up $6M Worth Of Shares</a>
Why It Matters: Investment experts are divided on the potential impact. Gary Black, managing partner at The Future Fund LLC, warns that Tesla has the most to lose, noting that removing the credit would effectively raise Tesla&#8217;s U.S. vehicle prices by 20% and affect <a href="https://www.benzinga.com/news/global/24/11/41998381/tesla-earnings-will-be-hit-hardest-if-7500-ev-credit-is-cut-warns-gary-black-citing-80-dependence-on-ev-sales-please-do-the-math">roughly 30% of its global sales</a>. 
However, Wedbush analyst Dan Ives suggests the move could ultimately benefit Tesla due to its superior scale compared to competitors.
The debate intensifies as Tesla aims for <a href="https://www.benzinga.com/tech/24/11/41894615/tesla-q4-deliveries-expected-to-set-new-records-but-not-enough-to-avoid-yearly-sales-decline-says-researcher">record sales in the fourth quarter of 2024</a> to avoid its first annual decline in deliveries. The potential elimination of the tax credit would require congressional approval and could significantly impact EV adoption in the United States, which already lags behind other major markets.
Price Action: Tesla stock closed at $311.18 on Thursday, down 5.77% for the day. In after-hours trading, Tesla slipped a further 1.15%. Despite recent drops, Tesla's stock has gained 25.26% year to date, according to <a href="https://www.benzinga.com/pro/" target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>.
Read Next: 
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<li><a href="https://www.benzinga.com/news/24/11/41997224/elliott-investment-management-adds-to-southwest-western-digital-etsy-match-group-trims-bill-holdings-seadrill-blackline-nrg-energy-in-q3">Elliott Investment Management Adds To Southwest, Western Digital, Etsy, Match Group; Trims BILL Holdings, Seadrill, BlackLine, NRG Energy In Q3</a></li>
</ul>
Courtesy of Tesla, Inc.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Equities

Global

Markets

TSLA

Long-Time Tesla Bull Rages As Elon Musk Reportedly Backs Trump's Plan To Ax $7.5K EV Credit: 'Insanity'

Michael Saylor, CEO of MicroStrategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>), deemed the Donald Trump-led Republican triumph the &#8220;biggest&#8221; bullish catalyst for Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) over the last four years.
What Happened: In an interview with CNBC on Thursday, Saylor said that the &#8220;red wave&#8221; has been &#8220;incredibly auspicious&#8221; for Bitcoin and the broader cryptocurrency industry.
The Bitcoin bull anticipated a friendlier SEC at the helm amid speculations of current chair Gary Gensler stepping aside.
&#8220;It&#8217;s very good for the cryptocurrency industry. We&#8217;re going to see a lot more pro-Bitcoin policies. We are going to see a digital assets framework. We are going to see an end to the war on crypto.,&#8221; Saylor predicted. 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">&quot;The red wave is probably the biggest thing that has happened in the past four years for bitcoin&quot; &#8211; <a href="https://twitter.com/MicroStrategy?ref_src=twsrc%5Etfw">@MicroStrategy</a> founder &amp; chairman <a href="https://twitter.com/saylor?ref_src=twsrc%5Etfw">@saylor</a> on his crypto expectations under a second Trump presidency. <a href="https://t.co/9BYAYgLGe8">pic.twitter.com/9BYAYgLGe8</a>
&mdash; CNBCOvertime (@CNBCOvertime) <a href="https://twitter.com/CNBCOvertime/status/1857179737606459844?ref_src=twsrc%5Etfw">November 14, 2024</a></blockquote>
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With the election uncertainty behind, Saylor also ruled out any major bearish events for Bitcoin in the foreseeable future.
&#8220;I am planning the $100,000 party, and I am thinking it is probably going to be New Year&#8217;s Eve at my house. So, I would be surprised if we don&#8217;t go through $100,000 in November or December,&#8221; Saylor said in a burst of enthusiasm.
See Also: <a href="https://www.benzinga.com/news/events/24/11/41992186/could-new-legislation-finally-bring-clarity-to-us-crypto-rules-industry-expert-weighs-in">Could New Legislation Finally Bring Clarity To US Crypto Rules? Industry Expert Weighs In</a>
Why It Matters: Saylor&#8217;s bullish sentiment aligned with the ongoing success of his company&#8217;s publicly-traded stock. 
MicroStrategy&#8217;s shares hit a record high earlier this week, pushing the firm&#8217;s market valuation to $72.26 billion, a $50 billion increase since September 6. This gain <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41961419/bitcoin-proxy-microstrategy-added-more-to-its-market-cap-in-last-2-months-than-what-ford-is-worth-currently">surpassed the total capitalization</a> of Ford Motor Co. (F) and Cognizant Technology Solutions Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CTSH#NASDAQ">CTSH</a>).
The firm, known famously as Bitcoin&#8217;s biggest corporate holder, was sitting on unrealized profits of over $12.7 billion as of this writing, <a href="https://bitcointreasuries.net/" target="_blank" rel="noreferrer noopener">according&nbsp;</a>to data from bitcointreasuries.net.&nbsp;&nbsp;
The company&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41646462/michael-saylor-says-bitcoin-remedy-to-fix-unhealthy-balance-sheets-as-microstrategy-unveil" target="_blank" rel="noreferrer noopener">announced plans</a>&nbsp;to raise as much as $42 billion in equity and debt funding over the next three years to accumulate more Bitcoin.
Price Action: At the time of writing, Bitcoin was exchanging hands at $88,288.00, down 1.73% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA.." target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>. Shares of MicroStrategy closed 0.22% lower at $327.67 during Thursday&#8217;s regular trading session.
Photo Courtesy: Wikimedia
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/legal/24/11/41996491/18-republican-states-sue-bidens-sec-over-harsh-crypto-crackdown">18 Republican States Sue Biden&#8217;s SEC Over Harsh Crypto Crackdown</a></li>
</ul>

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

Cryptocurrency

$BTC

CTSH

MSTR

Michael Saylor Is Planning A Bitcoin $100K Party At His House, Expects End Of War On Crypto Under Trump

Federal Reserve Chair Jerome Powell faced sharp criticism from prominent economist Mohamed El-Erian following a Dallas Chamber event Thursday, where Powell&#8217;s cautious stance on rate cuts <a href="https://www.benzinga.com/news/treasuries/24/11/41993899/powells-hawkish-remarks-shake-markets-stocks-fall-dollar-rockets-bitcoin-dips">triggered significant market movements</a>.
What Happened: El-Erian, Chief Economic Advisor at Allianz, critiqued Powell&#8217;s performance on social media platform X, noting that the Fed chair &#8220;struggled with smart questions&#8221; and &#8220;confused the economics of different possible scenarios.&#8221; 
El-Erian suggested Powell might avoid similar interview formats in the future, particularly highlighting the chair&#8217;s unclear response regarding new monetary frameworks.
During the Dallas event, Powell emphasized the <a href="https://www.benzinga.com/news/treasuries/24/11/41993899/powells-hawkish-remarks-shake-markets-stocks-fall-dollar-rockets-bitcoin-dips">U.S. economy&#8217;s exceptional strength</a> while maintaining a careful position on potential rate cuts. &#8220;Inflation is running much closer to our 2% longer-run goal, but it is not there yet. We are committed to finishing the job,&#8221; Powell stated, indicating no rush to lower rates despite market expectations.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I doubt Fed Chair Powell will do another interview like this anytime soon. He struggled with some of the smart questions, often deflecting with historical explanations, and he confused the economics of different possible scenarios. His response to the question on a new monetary… <a href="https://t.co/x0qpYzWDUz">https://t.co/x0qpYzWDUz</a>
&mdash; Mohamed A. El-Erian (@elerianm) <a href="https://twitter.com/elerianm/status/1857165803444965755?ref_src=twsrc%5Etfw">November 14, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/24/11/41998258/cathie-wood-keeps-betting-on-amazons-haul-play-ark-loads-up-6m-worth-of-shares">Cathie Wood Keeps Betting On Amazon&#8217;s &#8216;Haul&#8217; Play: Ark Loads Up $6M Worth Of Shares</a>
Why It Matters: The Fed chair pointed to increased productivity as a key factor in recent economic performance, noting that productivity growth over the past five years has outpaced the two decades before the pandemic. This strength, Powell suggested, allows for a more measured approach to monetary policy decisions.
The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), which tracks the benchmark S&amp;P 500 index, fell 0.64% as investors recalibrated their rate cut expectations. Technology stocks felt the pressure, with the Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), representing the Nasdaq-100 index, declining 0.69%. Small-cap stocks bore the brunt of the selling, as evidenced by the iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) dropping 1.35%, according to <a href="https://www.benzinga.com/pro/" target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>.
Powell&#8217;s remarks triggered a sharp <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">repricing</a> in rate cut expectations, with the CME FedWatch Tool showing the probability of a December rate reduction falling to 58.9% from nearly 80%. This shift came after Powell emphasized the economy&#8217;s remarkable strength and indicated no urgency to lower rates.
Read Next: 
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<li><a href="https://www.benzinga.com/news/global/24/11/41998381/tesla-earnings-will-be-hit-hardest-if-7500-ev-credit-is-cut-warns-gary-black-citing-80-dependence-on-ev-sales-please-do-the-math">Tesla Earnings Will Be Hit Hardest If $7.5K EV Credit Gets Cut By Trump, Warns Gary Black: &#8216;Do The Math&#8217;</a></li>
</ul>
Image Via Shutterstock 
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Economics

Federal Reserve

ETFs

Mohamed El-Erian Criticizes Fed Chair Powell's Interview Performance: 'He Struggled With Some Of The Smart Questions'

Widely-followed cryptocurrency analyst Willy Woo threw a jibe at economist Peter Schiff for attempting to stay relevant by dunking on Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>).
What Happened: On Thursday, Woo took to X to describe a rather unique perspective on Bitcoin. He said that the leading cryptocurrency was more than just a digital form of money, instead likening it to a &#8220;squatter living rent-free in people&#8217;s minds.&#8221;
&#8220;After a while, there's only 2 paths: you buy it and become rich or you keep hating and turn crazy,&#8221; Woo added.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">People think <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> is digital money but they miss the point. Bitcoin a squatter living rent free in people's minds. After a while there's only 2 paths: you buy it and become rich or you keep hating and turn crazy.
&mdash; Willy Woo (@woonomic) <a href="https://twitter.com/woonomic/status/1857029548333728152?ref_src=twsrc%5Etfw">November 14, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/news/legal/24/11/41996491/18-republican-states-sue-bidens-sec-over-harsh-crypto-crackdown">18 Republican States Sue Biden&#8217;s SEC Over Harsh Crypto Crackdown</a>
Woo&#8217;s remark was in response to Schiff, who sarcastically suggested that the Social Security Trust Fund should sell all of its Treasuries to buy Bitcoin. 
Schiff&#8217;s comment was a tongue-in-cheek critique of Bitcoin&#8217;s volatile nature and the potential economic catastrophe he believed could ensue if the U.S. government were to establish a Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) reserve.
Why It Matters: Schiff&#8217;s views on Bitcoin have been controversial, and many have accused him of doing engagement farming by repeatedly mentioning the coin in his X posts.
His critics <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38781124/peter-schiff-says-he-gets-a-kick-out-of-fanatics-accusing-him-of-secretly-owning-bitcoin-t" target="_blank" rel="noreferrer noopener">believe he secretly owns Bitcoin</a>, in contrast to the overtly critical positions he takes on social media. The economist has consistently denied this claim
Earlier this week, Schiff <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41891221/peter-schiff-says-he-would-have-loaded-up-on-bitcoin-had-he-known-that-the-btc-bubble-would-get-this-big">dismissed Bitcoin&#8217;s bull run</a> as a &#8220;popular delusion&#8221; and &#8220;madness of crowds,&#8221; predicting staggering losses when the bubble finally pops. He has also warned that if the U.S. government began buying Bitcoin, it could trigger a market crash.
Price Action: At the time of writing, Bitcoin was trading at $88,160.96, down 2.36% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA.." target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>. The coin was up over 16% in the last week.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41993524/gary-gensler-hints-at-ending-his-stint-as-sec-chair-defends-crypto-regulation-agenda">Gary Gensler Hints At Ending His Stint As SEC Chair, Defends Crypto Regulation Agenda</a></li>
</ul>

Peter Schiff's Cheeky Bitcoin Turnaround Post Earns Reaction From Popular Analyst: 'You Buy It And Become Rich Or You Keep Hating And Turn Crazy'

4Front Ventures Corp. (CSE:<a class="ticker" href="https://www.benzinga.com/stock/FFNT#CSE">FFNT</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/FFNTF#OTC">FFNTF</a>), a U.S. multi-state <a href="http://benzinga.com/cannabis">cannabis</a> operator, announced its Q3 2024 revenue Thursday of $17.1 million, down from $18.7 million in the <a href="https://www.benzinga.com/markets/cannabis/24/08/40394058/multi-state-marijuana-operator-4front-posts-31-yoy-lower-q2-revenue-sees-net-loss-reduction-rema">previous quarter</a>. The company highlighted substantial gains in Massachusetts and promising developments in Illinois as the Matteson facility ramps up production.
<h4 class="wp-block-heading">Q3 2024 Financial Highlights</h4>
<ul>
<li>Revenue was $17.1 million, a decrease from $23 million in Q3 2023.</li>
<li>Net Loss was $6.4 million, an improvement from a net loss of $62.1 million in Q3 2023.</li>
<li>Adjusted EBITDA was $1 million, compared to an adjusted EBITDA loss of $4.8 million in Q3 2023.</li>
<li>Gross Profit was $3.7 million, down from $9.3 million in Q3 2023.</li>
</ul>
<h3 class="wp-block-heading">Scalable Production, Strategic Expansion Powers Market Growth</h3>
The Matteson facility, nearing full operational capacity, is expected to address <a href="http://benzinga.com/topic/illinois-cannabis">Illinois&#8217;</a> supply constraints, boosting 4Front's market share. CEO Andrew Thut <a href="https://www.prnewswire.com/news-releases/4front-ventures-reports-third-quarter-2024-results-302306042.html">stressed</a> the strong demand. &#8220;Early responses to Matteson&#8217;s production have been highly positive.&#8221; The facility&#8217;s scalability aligns with strategic growth plans, leveraging new supply agreements.
<ul>
<li>Get Benzinga&#8217;s exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter <a href="https://newsletteremail.benzinga.com/subscribe">here</a>. If you&#8217;re serious about the business, you can&#8217;t afford to miss out.</li>
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<a href="http://benzinga.com/topic/massachusetts-cannabis">Massachusetts</a> saw a 56% quarter-over-quarter growth in wholesale revenue, driven by consistent high-quality production. Meanwhile, in Washington, 4Front returned to record revenues, showcasing its adaptability in competitive markets.
New product launches, including the &#8220;Smoke Breaks&#8221; pre-rolls, expanded the company&#8217;s offerings in Illinois and Massachusetts.
<h3 class="wp-block-heading">4Front's CEO Optimistic Amid Regulatory Uncertainty</h3>
"Despite the uncertainties surrounding federal cannabis reform, we&#8217;re optimistic, especially given signs that we may have unexpected advocates in the incoming administration," said Thut. The company expects its operational momentum to continue into Q4, targeting positive cash flows and expanded market reach.
Read Also: <a href="https://www.benzinga.com/24/11/41915099/cannabis-stocks-pop-following-chris-christies-prediction-on-trumps-policy-shift">Cannabis Stocks Pop Chris Christie's Prediction On Trump</a>
<h3 class="wp-block-heading">Capital Optimization, Product Diversification To Drive Expansion</h3>
4Front has also retained Canaccord Genuity to optimize its capital structure, a move aimed at securing growth capital and enhancing financial performance. With the scaling of the Matteson facility and a focus on diversifying its product lines, the company is heading for sustained operational growth and shareholder value.
FFNTF Price Action FFNTF's shares were trading 11.76% lower at $0.03 per share at the time of market close Thursday.
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<li><a href="https://www.benzinga.com/24/11/41992549/cv-sciences-q3-revenue-stable-amid-new-launches-financing">CV Sciences Q3: Revenue Stable Amid New Launches, Financing</a></li>
</ul>
Image created using artificial intelligence with Midjourney

Cannabis

CSE:FFNT

FFNTF

Cannabis Co. 4Front Sees Loss Narrow In Q3, Major Growth In MA, IL

The Department of Government Efficiency (DOGE), led by Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO Elon Musk and Vivek Ramaswamy, is seeking high-IQ candidates to reduce federal inefficiencies under President-elect Donald Trump.
What Happened: On Thursday, <a href="https://www.benzinga.com/24/11/41965420/department-of-government-efficiency-led-by-elon-musk-and-vivek-ramaswamy-opens-x-account-with-username-doge">DOGE's official account</a> on X, formerly Twitter, posted a call for applicants willing to work 80+ hours a week to streamline government spending and cut bureaucracy.
DOGE, also referencing the cryptocurrency Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>), will focus on reducing waste, cutting excess regulations, and restructuring agencies for efficiency.
Interested candidates are asked to DM their CVs, with Musk and Ramaswamy reviewing the top 1% of applicants.
See Also:&nbsp;<a href="https://www.benzinga.com/personal-finance/24/11/41773588/elon-musks-mom-knew-he-was-a-genius-by-3-years-old-but-worried-hed-end-up-in-a-basement-now-hes-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk's Mom Knew He Was A ‘Genius' By 3 Years Old But Worried He'd ‘End Up In A Basement' – Now He's The Richest Man In The World</a>
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">We are very grateful to the thousands of Americans who have expressed interest in helping us at DOGE. We don't need more part-time idea generators. We need super high-IQ small-government revolutionaries willing to work 80+ hours per week on unglamorous cost-cutting. If that's…
&mdash; Department of Government Efficiency (@DOGE) <a href="https://twitter.com/DOGE/status/1857076831104434289?ref_src=twsrc%5Etfw">November 14, 2024</a></blockquote>
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The department&#8217;s mission is to reduce government bureaucracy, eliminate unnecessary regulations, cut wasteful expenditures, and restructure federal agencies.
Why It Matters: The requirement to join DOGE mirrors Musk&#8217;s infamous 2022 middle-of-the-night email to Twitter employees, urging them to be &#8220;extremely hardcore&#8221; and work &#8220;long hours at high intensity.&#8221;
Earlier, Gene Munster of Deepwater Asset Management&nbsp;cautioned that Musk&#8217;s efficiency plans could take <a href="https://www.benzinga.com/news/24/11/41961033/gene-munster-says-elon-musks-doge-efficiency-plans-should-not-be-underestimated-but-warns-itll-likely-take-many-years-to-achieve-2-trillion-in-government-spending">years to achieve a $2 trillion reduction</a> in government spending.
Senator&nbsp;Ted Cruz&nbsp;(R-Texas) also warned that <a href="https://www.benzinga.com/24/11/41961161/musk-ramaswamy-headed-doge-department-will-be-an-incredibly-challenging-endeavor-says-ted-cruzshares-this-piece-of-advice">running DOGE won&#8217;t be easy</a>, while&nbsp;Robert Reich, a Clinton-era official, raised concerns about <a href="https://www.benzinga.com/politics/24/11/41962372/trumps-doge-with-musk-at-the-helm-riddled-with-conflicts-of-interest-says-clinton-era-official-robert-reich">potential conflicts of interest</a>.
Trump previously said that the DOGE department's work is expected to be completed by July 4, 2026, at the latest.
Price Action: Dogecoin is currently valued at $0.3669, showing a 6.17% decrease in the past 24 hours. Meanwhile, DOGE&#8217;s trading volume has fallen by 38.96%, totaling $15.94 billion as of this writing.
Tesla shares closed Thursday&#8217;s session down 5.77%, finishing at $311.18. In after-hours trading, the stock dropped further to $307.61 at the time of writing, according to the <a href="https://pro.benzinga.com/dashboard" target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>.
Photos courtesy: Shutterstock and Gage Skidmore on Flickr
Read Next:&nbsp;
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41963342/elizabeth-warrens-sarcastic-take-on-doges-split-leadership-gets-slammed-by-elon-musk-unlike-you-neither-of-us-are-being-paid">Elizabeth Warren&#8217;s Sarcastic Take On DOGE&#8217;s Split Leadership Gets Slammed By Elon Musk: &#8216;Unlike You, Neither Of Us Are Being Paid&#8217;</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.

Politics

$DOGE

Elon Musk And Vivek Ramaswamy Are Looking For 'High IQ Small-Government Revolutionaries' Who Are Willing To Put In 80+ Hours At DOGE

The US stock market experienced a downward trend on Thursday, with both the Nasdaq Composite and the S&amp;P 500 indices falling by nearly 0.6% respectively. The Dow also traded down by 0.5% to 43,750.86. This came amidst news of a 0.2% rise in U.S. producer prices for October.
Federal Reserve Chair Jerome Powell highlighted the resilience of the U.S. economy, suggesting there's <a href="https://www.benzinga.com/news/econ-s/24/11/41991849/powell-with-strong-us-economy-fed-has-no-need-to-be-in-a-hurry-to-lower-rates">no rush to lower rates</a>, though future decisions will be data-driven. The equity markets had a negative reaction to Powell&#8217;s comments.
These are the top stocks that gained the attention of retail traders and investors throughout the day:
Palantir Technologies Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>)
Palantir&#8217;s shares closed down 2.50% at $59.18, with an intraday high of $61.17 and a low of $58.53. The stock&#8217;s 52-week high and low stand at $63.39 and $15.66 respectively. The company announced it will transfer its <a href="https://www.benzinga.com/trading-ideas/movers/24/11/41994158/palantir-stock-is-rising-after-the-bell-whats-going-on">stock listing to the Nasdaq</a>, expected to commence on Nov. 26.
Moderna Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRNA#NASDAQ">MRNA</a>)
Moderna&#8217;s stock fell by 5.62% to close at $39.77. The shares traded between $42.06 and $38.76 through the day, with a 52-week range of $170.47 and $38.76. The <a href="https://www.benzinga.com/government/regulations/24/11/41993115/trump-taps-rfk-jr-for-health-secretary-role-sends-5-vaccine-stocks-lower">appointment</a> of vaccine skeptic Robert F. Kennedy Jr. as Health Secretary by President-elect Donald Trump sent vaccine stocks lower.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41963342/elizabeth-warrens-sarcastic-take-on-doges-split-leadership-gets-slammed-by-elon-musk-unlike-you-neither-of-us-are-being-paid?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elizabeth Warren&#8217;s Sarcastic Take On DOGE&#8217;s Split Leadership Gets Slammed By Elon Musk: &#8216;Unlike You, Neit</a>
Pfizer Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>)
Pfizer&#8217;s shares closed down 2.62% at $26.02, with an intraday high of $26.85 and a low of $25.84. The 52-week high and low for the stock are $31.54 and $25.2 respectively. The stock was affected by the same news as Moderna.
Alibaba Group Holding Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>)
Alibaba&#8217;s shares fell by 1.54% to close at $90.58. The stock hit an intraday high of $91.56 and a low of $90.01. The 52-week range for the stock is $117.82 and $66.63. The company is set to unveil its second-quarter earnings on Friday, amidst a <a href="https://www.benzinga.com/trading-ideas/technicals/24/11/41991453/alibaba-q2-earnings-could-hint-at-a-turnaround-but-bearish-signals-loom-over-charts">challenging macroeconomic environment</a> and increased competition.
Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)
Tesla&#8217;s shares fell by 5.77% to close at $311.18. The shares traded between $329.98 and $310.37 through the day, with a 52-week range of $358.64 and $138.8. Investment veteran Gary Black <a href="https://www.benzinga.com/news/global/24/11/41998381/tesla-earnings-will-be-hit-hardest-if-7500-ev-credit-is-cut-warns-gary-black-citing-80-dependence-on-ev-sales-please-do-the-math">warned</a> that Tesla&#8217;s earnings could be hit hardest if the $7,500 federal electric vehicle tax credit is eliminated.
Image via Shutterstock
Prepare for the day&#8217;s trading <a href=""Premarket">with top premarket movers and news</a> by Benzinga.
Read Next: 
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<li><a href="https://www.benzinga.com/trading-ideas/movers/24/11/41927985/bitcoin-ethereum-consolidate-dogecoin-surges-as-election-rally-takes-a-breather-analyst-says-pullback-typical-for-healthy-market?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin, Ethereum Consolidate, Dogecoin Surges As Election Rally Takes A Breather: Analyst Says Pullback &#8216;Typical&#8217; For Healthy Market</a></li>
</ul>
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

BABA

MRNA

PLTR

Palantir, Moderna, Pfizer, Alibaba, Tesla: Why These 5 Stocks Are On Investors' Radars Today

As interest in <a href="https://www.benzinga.com/topic/psychedelic-assisted-therapies">psychedelic-assisted therapies</a> (PATs) grows, so does the need for clearer safety guidelines. Psychedelic treatments using substances like <a href="https://www.benzinga.com/topic/psilocybin">psilocybin</a>, <a href="https://www.benzinga.com/topic/lsd">LSD</a>, and <a href="https://www.benzinga.com/topic/mdma">MDMA</a> are being explored for mental health issues like depression and PTSD, showing promising results. The FDA has granted breakthrough therapy status to some, but its recent <a href="https://www.benzinga.com/markets/cannabis/24/08/40300943/fda-rejects-mdma-for-ptsd-treatment-calls-for-more-research-on-psychedelic-therapy">rejection of MDMA for PTSD</a> due to safety concerns highlights the need for standardized assessments of adverse events (AEs) in these therapies. 
While research has largely focused on their benefits, assessing the risks and AEs related to these therapies has not been as thorough. A new framework <a href="https://journals.sagepub.com/doi/10.1177/02698811241265756#con1">published</a> in the Journal of Psychopharmacology seeks to change that, introducing a comprehensive approach for identifying, monitoring, and reporting potential negative effects specific to psychedelic therapies.
<h3 class="wp-block-heading">The Need For Tailored Adverse Event Reporting</h3>
Psychedelic-assisted therapies are different from traditional treatments because they combine the effects of powerful psychedelic substances with psychotherapy. This combination can lead to <a href="https://www.benzinga.com/markets/cannabis/24/08/40528986/psychedelic-trips-resemble-near-death-experiences-new-study-shows-what-does-it-mean">unique experiences</a> such as intense visual effects, spiritual insights, and deep psychological changes that standard safety assessments often overlook. Current guidelines for reporting side effects in clinical trials, like those in the Medical Dictionary for Regulatory Activities, may not fully capture these unique effects. 
Author Roman Palitsky and his team have created a new framework to address this gap. It outlines 54 potential adverse events specific to psychedelic therapies, covering physical, mental, and spiritual impacts. &#8220;Psychedelic therapies require specialized guidelines because they blend strong pharmacological effects with psychotherapy,&#8221; said Palitsky. This new approach aims to provide a more detailed understanding of the risks, which can help researchers and clinicians better protect patients.
<h3 class="wp-block-heading">Challenges Of Identifying Adverse Events</h3>
A key issue in assessing side effects in psychedelic therapy is underreporting. Patients may avoid mentioning negative experiences, especially if they support the push to <a href="https://www.benzinga.com/topic/psychedelics-decriminalization">decriminalize psychedelics</a>. Therapists may also overlook or misinterpret adverse events due to their own expectations about the treatment&#8217;s benefits.
The framework suggests using self-reports, clinician observations and feedback from those close to the patient to better assess side effects. It distinguishes between normal discomfort, like facing tough emotions and genuine adverse events, such as lasting anxiety or depression. In some cases, these issues can lead to severe outcomes, as seen in some psilocybin trials.
<h3 class="wp-block-heading">New Areas of Focus for Safety Assessments</h3>
The framework introduces several new categories for tracking adverse events specific to psychedelic therapies: Psychospiritual Issues, which involve negative impacts on spiritual beliefs or existential well-being; Interpersonal Issues, such as changes in social behavior due to psychedelics' effects on brain systems; Behavioral Changes, like disrupted sleep or increased substance use and Cultural and Epistemic Harms, which address potential conflicts with a patient's cultural or religious beliefs. These categories highlight the unique risks of combining psychedelics and psychotherapy, offering a more detailed approach to patient safety.
<h3 class="wp-block-heading">Importance of Long-Term Monitoring</h3>
The framework emphasizes the need for extended follow-up, as many adverse effects may not become apparent until weeks or even months after the therapy session. This long-term monitoring is critical because the changes induced by psychedelics can have <a href="https://www.benzinga.com/markets/cannabis/22/03/25994197/study-finds-psilocybin-anti-depression-effects-last-at-least-one-year">lasting effects</a> on a person's worldview, relationships and overall well-being.
&#8220;Changes brought about by psychedelic experiences can take time to fully emerge, making long-term follow-up essential for accurate assessment,&#8221; the authors suggest. They recommend assessing adverse events for at least six months after treatment, allowing researchers to capture any delayed effects that might otherwise go unnoticed.
<h3 class="wp-block-heading">Moving Towards Safer Psychedelic Therapies</h3>
This new framework is a significant advancement in psychedelic research, offering a structured approach to track side effects more effectively. By identifying a wider range of risks, it helps clinicians make informed decisions and improve patient safety. Future studies will need to validate and refine the framework to ensure it captures all potential adverse events. 
In summary, Palitsky&#8217;s framework provides a comprehensive method to standardize safety reporting in psychedelic therapies, playing a key role in making these treatments safer and more reliable as they move toward mainstream use.
Cover image made with AI

Psychedelics

Health Care

New Study Charts Adverse Events In Psychedelic-Assisted Therapies

Leading cryptocurrencies pulled back Thursday as Federal Reserve Chair Jerome Powell's remarks <a href="https://www.benzinga.com/news/econ-s/24/11/41991849/powell-with-strong-us-economy-fed-has-no-need-to-be-in-a-hurry-to-lower-rates">poured cold water on rate cut optimism.</a>
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 7:30 p.m. ET)</td>
</tr>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>-2.23%</td>
<td>$88,282.07</td>
</tr>
<tr>
<td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>-3.55%</td>
<td>$3,091.21</td>
</tr>
<tr>
<td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>-4.46%</td>
<td>$0.3726</td>
</tr>
</tbody>
</table>
</figure>
What Happened: Bitcoin rose past $91,000 early morning hours, only to slip below $88,000 after the market close, resulting in more than a 2% decline over the last 24 hours.
Ethereum sharply descended from $3,240 to $3,040 over the day. Over the week, the second-largest cryptocurrency gained 3.89%, significantly trailing its senior partner, which was up over 15%.
More than $505 million worth of positions were liquidated in the last 24 hours, with nearly $350 million in upside bets getting wiped out.
Bitcoin's Open Interest (OI) dropped 0.82% in the last 24 hours. A drop in OI, alongside a drop in spot price, also pointed toward long liquidations.
That said, the number of traders betting in favor of Bitcoin's price rally rose in comparison to those shorting the asset, according to the Long/Short Ratio.
The "Extreme Greed" sentiment weakened from 88 to 80 as a result of the retrace, according to the Cryptocurrency Fear and Greed Index.
Top Gainers (24-Hours)
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 7:30 p.m. ET)</td>
</tr>
<tr>
<td>Act I: The AI Prophecy (ACT)</td>
<td>+32.46%</td>
<td>$0.8424</td>
</tr>
<tr>
<td>MANTRA (OM)</td>
<td>+20.63%</td>
<td>$1.68</td>
</tr>
<tr>
<td>XRP (XRP)</td>
<td>+13.42%</td>
<td>$0.786</td>
</tr>
</tbody>
</table>
</figure>
The global cryptocurrency market capitalization stood at $2.92 trillion, declining 1.53% in the last 24 hours.
Stocks closed in the red on Thursday. The Dow Jones Industrial Average slipped 207.33 points, or 0.47%, to close at 43,750.86. The S&amp;P 500 lost 0.60% to end at 5,949.17. The tech-focused Nasdaq Composite dipped 0.64% to 19,107.65, marking its third straight losing day.
The sell-offs followed Fed Chair Powell&#8217;s statements that the central bank needn't "be in a hurry" to cut rates given the strength of the economy. 
The cautious remarks triggered a sharp decline in rate cut expectations during next month's FOMC meeting, from 82% to 59%,&nbsp; <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">according </a>to data from the CME FedWatch tool&nbsp;
See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>
Analyst Notes: Popular cryptocurrency analyst Rekt Capital described Bitcoin dips early on in the price discovery phase as "high-probability opportunities."
"As the parabolic phase goes on, however, the pullbacks will become increasingly riskier for dollar-cost-averaging Good thing we&#8217;re so early in the parabolic upside phase," the analyst remarked.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> dips early on in Price Discovery are high-probability opportunities As the Parabolic Phase goes on however, the pullbacks will become increasingly riskier for dollar-cost-averaging Good thing we&#39;re so early in the Parabolic Upside phase<a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> <a href="https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw">#Crypto</a> <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a>
&mdash; Rekt Capital (@rektcapital) <a href="https://twitter.com/rektcapital/status/1857094023690797475?ref_src=twsrc%5Etfw">November 14, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
On-chain analytics firm CryptoQuant said that high stablecoin inflows were driving the Bitcoin bull market.
"There is a continuation of a higher-than-normal influx of stablecoins. This suggests that barring any additional news flow, the Bitcoin bull market has not yet ended," the firm said, indicating that more upsides could follow.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Bitcoin Bull Market Fueled by Stablecoin Inflows: Will the Uptrend Continue? "There is a continuation of a higher-than-normal influx of stablecoins. This suggests that barring any additional news flow, the <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> bull market has not yet ended." – By <a href="https://twitter.com/theKriptolik?ref_src=twsrc%5Etfw">@theKriptolik</a> Link &#x1f447;… <a href="https://t.co/SAEnv6oxUD">pic.twitter.com/SAEnv6oxUD</a>
&mdash; CryptoQuant.com (@cryptoquant_com) <a href="https://twitter.com/cryptoquant_com/status/1857194154310214060?ref_src=twsrc%5Etfw">November 14, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Photo by CMP_NZ on Shutterstock
Read Next:    
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41959476/fbi-raids-polymarket-ceo-over-crypto-betting-platforms-us-activities-he-fires-back-in-the-face-of-adversity-we-build">FBI Raids Polymarket CEO Over Crypto Betting Platform&#8217;s US Activities — He Fires Back: &#8216;In The Face Of Adversity, We Build&#8217;</a></li>
</ul>

Trading Ideas

$ETH

Bitcoin, Ethereum, Dogecoin Take A U-Turn As Jerome Powell's Statements Dampen Rate Cut Expectations: Analytics Firm Explains Why BTC Bull Market Has Not Yet Ended

Investment veteran Gary Black cautions that Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) will lose the most if the $7,500 federal electric vehicle tax credit is eliminated, citing the company&#8217;s overwhelming dependence on <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41988194/trump-plans-to-erase-ev-tax-credit-analyst-says-its-net-bullish-calls-sell-off-wrong-knee-jerk-reaction">EV sales compared to traditional automakers</a>.
What Happened: Black, managing partner at The Future Fund LLC, points to Tesla&#8217;s recent history of price-related challenges as evidence for his concern. &#8220;Tesla&#8217;s earnings power declined by 45% and shares fell by 70% in 15 months&#8221; following price cuts of 15-20% in late 2022 and 2023, he noted on social media platform X.
The potential loss of the tax credit could effectively increase Tesla&#8217;s U.S. vehicle prices by 20%, affecting approximately 30% of the company&#8217;s global sales volume. Black emphasizes that Tesla&#8217;s vulnerability stems from its business model, where electric vehicles represent about 80% of revenue.
&#8220;No one else has anywhere near that degree of exposure to EVs,&#8221; Black wrote, contrasting Tesla&#8217;s position with traditional automakers. He dismisses concerns about the impact on legacy manufacturers, noting that companies like General Motors Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) and Toyota Motor Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TM#NYSE">TM</a>) saw earnings growth during Tesla&#8217;s recent downturn.
Black&#8217;s analysis challenges some Tesla supporters who suggest the credit&#8217;s removal would primarily hurt traditional automakers. He argues that mathematical analysis doesn&#8217;t support this view, pointing out that EVs typically constitute only 5-10% of legacy automakers&#8217; business.
&#8220;Why would raising price on 5-10% of legacy auto's business bankrupt them? C'mon folks &#8211; please do the math,&#8221; Black wrote. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I love when <a href="https://twitter.com/search?q=%24TSLA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TSLA</a> bulls try to spin negative industry news as good for TSLA but bad for everyone else. When TSLA cut prices by 15-20% in late-2022 and 2023 — which sparked a price war — I was one of the few who warned repeatedly that TSLA earnings would get decimated, while mgmt… <a href="https://t.co/c03qw3c53V">https://t.co/c03qw3c53V</a> <a href="https://t.co/cwXIrzmsTI">pic.twitter.com/cwXIrzmsTI</a>
&mdash; Gary Black (@garyblack00) <a href="https://twitter.com/garyblack00/status/1857186024977543546?ref_src=twsrc%5Etfw">November 14, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also: <a href="https://www.benzinga.com/markets/equities/24/11/41993666/warren-buffetts-berkshire-hathaway-slashes-apple-bofa-holdings-adds-dominos-pizza-in-q3">Warren Buffett&#8217;s Berkshire Hathaway Slashes Apple, BofA Holdings, Adds Domino&#8217;s Pizza In Q3</a>
Why It Matters: The potential elimination of the $7,500 EV tax credit has been a topic of concern for Tesla and the EV industry as a whole. Despite the negative implications, some analysts believe that this move could be <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41988194/trump-plans-to-erase-ev-tax-credit-analyst-says-its-net-bullish-calls-sell-off-wrong-knee-jerk-reaction">beneficial for Tesla</a>.
Meanwhile, Tesla&#8217;s stock has been on the rise since the 2024 presidential election, with Elon Musk&#8216;s endorsement of President-elect Donald Trump being seen as a <a href="https://www.benzinga.com/trading-ideas/24/11/41985486/if-tesla-stock-hits-all-time-highs-in-2025-will-it-be-driven-by-trump-musk-relationship-benzinga-readers-say-this">significant factor in this growth</a>.
Furthermore, the recent announcement of Musk as the co-lead for the Department of Government Efficiency (DOGE) has been <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41968621/analysts-divided-about-impact-of-elon-musk-co-leading-doge-on-tesla-stock-heres-what-bulls-and-bears-have-to-say">met with mixed reactions</a> from analysts, with Black suggesting that this appointment may not have a significant impact on Tesla&#8217;s stock.
Price Action: Tesla stock closed at $311.18 on Thursday, down 5.77% for the day. In after-hours trading, Tesla slipped a further 1.15%. Despite recent drops, Tesla&#8217;s stock has gained 25.26% year to date, according to <a href="https://www.benzinga.com/pro/">data from Benzinga Pro</a>.
Read Next: 
<a href="https://www.benzinga.com/trading-ideas/24/11/41997142/viking-fund-management-sells-big-oil-stocks-in-q3-cuts-tesla-position-in-half-adds-to-largest-position-broadcom">Viking Fund Management Sells Big Oil Stocks In Q3, Cuts Tesla Position In Half, Adds To Largest Position Broadcom</a>
Image via Tesla
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Tesla Earnings Will Be Hit Hardest If $7.5K EV Credit Gets Cut By Trump, Warns Gary Black: 'Do The Math'

Editor&#8217;s Note: This article has been updated to exclude references to CEO Kyle Kazan's past experience, as they were not directly relevant to the focus of the story.
Vertically integrated Glass House Brands Inc. (CBOE CA: GLAS.A.U) (CBOE CA: GLAS.WT.U) (OTCQX:<a class="ticker" href="https://www.benzinga.com/stock/GLASF#OTCQX">GLASF</a>) (OTCQX:<a class="ticker" href="https://www.benzinga.com/stock/GHBWF#OTCQX">GHBWF</a>) reported its financial results Wednesday for the third quarter ended Sept. 30, 2024.
The cannabis company is focused on strategic growth initiatives, including expanding production capacity, improving cost efficiency and positioning itself to weather challenges in the California weed market. However, retail pricing pressures may continue to affect margins in the near term.
"While we expect lower prices to continue in the short-term, longer-term we expect Glass House will benefit, as our Company is built to weather market cycles and emerge even stronger," said Kyle Kazan, co-founder, chair, CEO and a <a href="https://www.benzinga.com/markets/cannabis/24/08/40444315/california-company-led-by-ex-police-officer-turned-cannabis-ceo-could-pivot-into-hemp-space">former Los Angeles police officer</a>.
<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 <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.</li>
</ul>
<h3 class="wp-block-heading">Q3 2024 Financial Highlights</h3>
<ul>
<li>Net revenue totaled $63.8 million, up 32% year-over-year from $48.2 million and 18% sequentially from the previous quarter.</li>
<li>Retail revenue amounted to $11.2 million, a slight increase from the prior period ($10.9 million) and the third quarter of 2023 ($10.1 million).</li>
<li>CPG revenue amounted to $4.8 million, up 11% YoY and 20% sequentially.</li>
<li>Gross profit amounted to $33.4 million, compared to $26 million in the prior year's period and $28.7 million in the second quarter of this fiscal year.</li>
<li>Gross margin was 52%, down slightly from 54% year-over-year and 53% from the previous quarter.</li>
<li>Adjusted EBITDA came in positive at a record $20.4 million, up from $10.7 million in the third quarter of 2023 and $12.4 million in the prior period.</li>
<li>Operating cash flow was $13.2 million, representing a 45% increase year-over-year.</li>
<li>The company had $35.1 million in cash and restricted cash as of Sept. 30, 2024, up from $25.9 million in the second quarter of 2024.</li>
</ul>
<h3 class="wp-block-heading">Operational Developments</h3>
<ul>
<li>The company&#8217;s retail strategic pricing plan has driven increased foot traffic and higher consumer loyalty.</li>
<li>Glass House is working on the Greenhouse 2 retrofit to increase production capacity by 275,000 pounds annually by the fourth quarter of 2025, aiming for a cost target of $100 per pound.</li>
<li>The company has obtained a hemp license and is testing strains, with plans to decide on large-scale production by the second quarter of 2025.</li>
<li>Glass House successfully had the Catalyst lawsuit dismissed, while Hector De La Torre returned to serve on the board of directors.</li>
</ul>
<h3 class="wp-block-heading">2024 Outlook</h3>
<ul>
<li>The company expects $47 million to $49 million in fourth-quarter revenue, representing a 19% year-over-year increase.</li>
<li>In terms of biomass production, the company provided a guidance of 160,000 to 165,000 pounds, representing 57% year-over-year growth.</li>
<li>The company forecasted adjusted EBITDA of $3 million to $5 million for the fourth quarter of fiscal 2024.</li>
<li>Capex is projected at roughly $6 million, with $5 million allocated to Phase III expansion.</li>
<li>Under the At-The-Market (ATM) program, the company can raise up to $25 million for Phase III expansion.</li>
</ul>
<h3 class="wp-block-heading">GLASF Price Action</h3>
Glass House Brands' shares traded 0.61% lower at $8.1 per share after the market close on Wednesday afternoon.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/cannabis/24/08/40366081/size-matters-glass-houses-150-000-pound-harvest-drives-record-53-9m-revenue-in-q2-2024">Size Matters: Glass House&#8217;s 150,000-Pound Harvest Drives Record $53.9M Revenue In Q2 2024</a></li>
</ul>

GHBWF

GLASF

California Weed Co. Glass House Brands Reports 32% YoY Q3 Revenue Growth (UPDATED)

On Thursday, Ark Invest, led by Cathie Wood, made significant trades in Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) and Rocket Lab USA Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RKLB#NASDAQ">RKLB</a>), according to the firm&#8217;s daily trade data.
The Amazon Trade
Ark picked up 28,509 Amazon shares for ARK Autonomous Technology &amp; Robotics ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKQ#BATS">ARKQ</a>), Ark Fintech Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKF#NYSE">ARKF</a>), and ARK Space Exploration &amp; Innovation ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKX#BATS">ARKX</a>) in a transaction valued at $6.03 million. As of Thursday, Amazon&#8217;s stock closed at $211.48, reflecting a decrease of 1.22%. 
Ark Invest&#8217;s move on Amazon comes in the wake of the e-commerce giant&#8217;s recent launch of a low-cost online storefront, &#8220;Haul&#8221;, designed to <a href="https://www.benzinga.com/news/global/24/11/41949051/whats-going-on-with-amazon-stock-wednesday-2">compete with Chinese e-commerce platforms</a>. According to a report, Amazon initiated discussions with China-based sellers earlier this year about offering a similar service. The exact details of Ark&#8217;s trade in Amazon were not disclosed in the data provided.
The Rocket Lab Trade
Ark Invest sold 627,775 shares in Rocket Lab, valued at almost $10.09 million. The trades were made through the ARKQ and ARKX ETFs. 
This sale followed a significant surge in Rocket Lab&#8217;s shares, which shot up over 28% to $18.83 on Wednesday. As of Thursday, Rocket Lab&#8217;s stock closed at $17.36, reflecting a decrease of 7.81%.
The earlier surge was triggered by the company&#8217;s announcement of better-than-expected <a href="https://www.benzinga.com/24/11/41932662/why-rocket-lab-shares-are-trading-higher-by-around-29-here-are-20-stocks-moving-premarket">third-quarter financial results</a>, a multi-launch agreement with a confidential commercial satellite constellation operator, and a federal defense contract worth up to $8 million.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41963342/elizabeth-warrens-sarcastic-take-on-doges-split-leadership-gets-slammed-by-elon-musk-unlike-you-neither-of-us-are-being-paid?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elizabeth Warren&#8217;s Sarcastic Take On DOGE&#8217;s Split Leadership Gets Slammed By Elon Musk: &#8216;Unlike You, Neither Of Us Are Being Paid&#8217;</a>
Other Key Trades: 
<ul>
<li>Ark continued to purchase shares of eVTOL companies like Archer Aviation Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACHR#NYSE">ACHR</a>) and Joby Aviation Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JOBY#NYSE">JOBY</a>) on Thursday. The firm picked up 409474 ACHR shares worth $1.76 million and 303674 JOBY shares worth $1.8 million.</li>
<li>The Wood-led firm purchased 2,706 shares of Advanced Micro Devices, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>), worth $375,701, through its ARKX fund.</li>
<li>Ark Invest bought shares of Schrodinger Inc (SDGR) and shares of Guardant Health Inc (GH) through its ARK Genomic Revolution ETF (ARKG).</li>
<li>The firm also sold shares of Moderna Inc (MRNA) and shares of Repare Therapeutics Inc (RPTX) through the same ETF.</li>
</ul>
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/24/11/41890968/bitcoin-kisses-89500-ethereum-dogecoin-extend-trump-victory-rally-how-long-before-btc-hits-100000-analysts-reveal?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin Hovers Around $90K, Ethereum, Dogecoin Extend Trump Victory Rally: How Long Before BTC Hits $100,000? Analysts Reveal</a></li>
</ul>
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

ACHR

AMZN

ARKF

ARKQ

ARKX

JOBY

RKLB

Cathie Wood Keeps Betting On Amazon's 'Haul' Play: Ark Loads Up $6M Worth Of Shares

Agrify Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AGFY#NASDAQ">AGFY</a>), a <a href="http://benzinga.com/cannabis">cannabis</a> and hemp solutions provider, reported its third quarter 2024 financial results Thursday, revealing a $1.9 million revenue, down from $3.1 million a year ago. The company posted a net loss of $18.6 million, largely driven by a $15 million change in the fair value of warrant liabilities.
<h4 class="wp-block-heading">Q3 2024 Financial Highlights</h4>
<ul>
<li>Revenue: $1.9 million, compared to $3.1 million in Q3 2023.</li>
<li>Net Loss: $18.6 million, primarily due to a $15 million change in the fair value of warrant liabilities, compared to a net loss of $2.1 million in Q3 2023.</li>
<li>Gross Profit: $0.2 million, compared to $1.0 million in Q3 2023.</li>
<li>Adjusted EBITDA: Not specified in the earnings report.</li>
</ul>
<h3 class="wp-block-heading">New Financing Strengthens Agrify&#8217;s Balance Sheet</h3>
Despite ongoing financial struggles, Agrify <a href="https://www.benzinga.com/markets/cannabis/24/11/41760263/marijuana-growing-solution-provider-agrify-gets-20m-boost-from-green-thumb-to-power-up-cannabis-">secured a $20 million convertible note financing</a> from Green Thumb Industries (OTC:<a class="ticker" href="https://www.benzinga.com/stock/GTBIF#OTC">GTBIF</a>), with an initial draw of $10 million, providing a crucial liquidity boost. This funding aims to strengthen the company&#8217;s balance sheet and support future growth opportunities.
<ul>
<li>Get Benzinga&#8217;s exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter <a href="https://newsletteremail.benzinga.com/subscribe">here</a>. If you&#8217;re serious about the business, you can&#8217;t afford to miss out.</li>
</ul>
As of November 14, the company has approximately 1.5 million shares of common stock outstanding and 6.3 million warrants.
<h3 class="wp-block-heading">New CEO's Commentary</h3>
Ben Kovler, recently appointed as chairman and interim CEO emphasized a strategic shift for Agrify. &#8220;Today really is Day One at Agrify,&#8221; Kovler <a href="https://www.globenewswire.com/en/news-release/2024/11/14/2981578/0/en/Agrify-Corporation-Announces-Results-for-Third-Quarter-2024.htmlhttps://www.globenewswire.com/en/news-release/2024/11/14/2981578/0/en/Agrify-Corporation-Announces-Results-for-Third-Quarter-2024.html">stated</a>, pointing to the company's renewed focus on market trends. 
"The hemp and cannabis industries are evolving fast and Agrify's fortified balance sheet is ready to move on opportunities. We have a deep understanding of the consumer and plan to leverage that strength today to build Agrify's value for tomorrow," Kovler added.
Read Also: <a href="https://www.benzinga.com/news/earnings/24/11/41925928/weedmaps-net-income-surges-312-yoy-cash-reserves-up-31">Weedmaps Net Income Surges 312% YOY, Cash Reserves Up 31%</a>
<h3 class="wp-block-heading">Agrify Expands Into Hemp THC Beverage Market</h3>
Agrify also announced a non-binding letter of intent to acquire Señorita, a brand specializing in <a href="http://benzinga.com/topic/hemp">hemp-derived</a> THC beverages, underscoring the company&#8217;s aim to diversify its product portfolio. This acquisition is expected to strengthen Agrify's position in the cannabis beverage market, <a href="https://www.benzinga.com/markets/cannabis/24/10/41356399/thc-beverages-could-revive-struggling-alcohol-industry-expert-says-partying-stress-and-anxiety-h">a segment gaining momentum</a> across the U.S.
AGFY Price Action AGFY's shares traded 30.49% higher at $13.61 per share at the market close Thursday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/legal/24/11/41994550/trumps-national-intelligence-pick-is-cannabis-advocate-tulsi-gabbard-critics-say-former-congresswoman-parrots-russia-propaganda">Trump&#8217;s National Intelligence Pick Is Cannabis Advocate Tulsi Gabbard: Critics Say Former Congresswoman Parrots Russia Propaganda</a></li>
</ul>

AGFY

GTBIF

Agrify's Q3 Revenue Drop, $18.6M Loss Amid New Leadership

Speaking at the Benzinga Cannabis Market Spotlight in Anaheim this week, Kyle Kazan, CEO of Glass House Brands (OTC:<a class="ticker" href="https://www.benzinga.com/stock/GLASF#OTC">GLASF</a>), delivered a candid assessment of California&#8217;s <a href="http://benzinga.com/topic/california-cannabis">cannabis industry</a> and shared his strategic outlook on federal cannabis policy. 
Kazan, <a href="https://www.benzinga.com/markets/cannabis/24/07/40024424/ex-police-officer-turned-cannabis-ceo-calls-for-federal-marijuana-de-scheduling-in-letter-to-har">a prominent voice in the industry</a>, emphasized the importance of collaboration among cannabis businesses and offered a hopeful yet pragmatic take on the potential shifts in cannabis regulation at both the state and federal levels.
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
<div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="Joe Rogan, Elon Musk, RFK Jr.: The Pro-Cannabis Voices Shaping Trump's Policies – Glass House CEO" width="500" height="281" src="https://www.youtube.com/embed/XsbUY-UnVOM?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div>
<figcaption class="wp-element-caption">Kyle Kazan, CEO of Glass House Brands, at the Benzinga Cannabis Market Spotlight in Anaheim, California</figcaption></figure>
Read Also: <a href="https://www.benzinga.com/news/earnings/24/11/41981887/california-weed-co-led-by-former-la-cop-reports-32-yoy-q3-revenue-growth">California Weed Co. Led By Former LA Cop Reports 32% YoY Q3 Revenue Growth</a> 
<h3 class="wp-block-heading">California: The Toughest Market In Cannabis</h3>
"If you can make it in California, you can make it anywhere," Kazan said, underscoring the unique challenges posed by California's <a href="https://www.benzinga.com/markets/cannabis/24/10/41547103/new-rules-old-challenges-californias-cannabis-industry-grapples-with-regulations">regulatory environment</a> and market dynamics. He pointed to the difficulty of succeeding in the state's <a href="https://www.benzinga.com/news/events/24/11/41886925/california-cannabis-industry-titans-headline-benzingas-anaheim-event-tues-nov-12">fiercely competitive market</a> and highlighted the resilience required for businesses to thrive.
<ul>
<li>Get Benzinga&#8217;s exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter <a href="https://newsletteremail.benzinga.com/subscribe">here</a>. If you&#8217;re serious about the business, you can&#8217;t afford to miss out.</li>
</ul>
<h3 class="wp-block-heading">A Call For Industry Unity Amid Policy Challenges</h3>
Despite the competitive nature of the industry, Kazan urged stakeholders to set aside differences and collaborate on advancing policy reforms. He highlighted missed opportunities in the past and warned of tougher market conditions if the sector does not unify.
"Let's find that Venn diagram where we can work together to move better policy forward in this state and also federally," Kazan said.
<h3 class="wp-block-heading">Navigating Election Aftermath: Optimism Amid Uncertainty</h3>
Addressing the implications of the recent election, Kazan struck a balanced tone, acknowledging the emotional landscape while emphasizing a strategic approach. He noted that Glass House Brands has maintained bipartisan engagement, making inroads with both Kamala Harris and Donald Trump's campaigns.&nbsp;
However, he expressed optimism about potential reform, referencing <a href="https://www.benzinga.com/markets/cannabis/24/01/36788077/trumps-support-bidens-los-angeles-weldon-angelos-weed-">Trump's pardons</a> of Weldon Angelos and Harry O as promising indicators of his stance on cannabis.
Kazan also pointed to President-elect Trump's support for states&#8217; rights and his <a href="https://www.benzinga.com/markets/cannabis/24/08/40666944/donald-trump-supports-cannabis-legalization-in-florida-game-changer-and-huge-blow-to-ron-desanti">endorsement of Florida's cannabis amendment</a> as positive signals. "We've been assured that's his stance on cannabis. He came out publicly for Amendment 3 in Florida. Why would he not do that for the other 49 states?"
<h3 class="wp-block-heading">Investor Concerns And Future Outlook For Cannabis</h3>
While Kazan acknowledged the uncertainty that investors face given the <a href="https://www.benzinga.com/markets/cannabis/24/09/40846480/cannabis-experts-say-weed-reform-is-a-race-against-time-is-the-dea-delaying-bidens-rescheduling-">unclear regulatory path ahead</a>, he remained upbeat about the long-term prospects. He cited the growing influence of pro-cannabis voices in Trump's inner circle, including figures like Elon Musk, Joe Rogan, <a href="https://www.benzinga.com/news/legal/24/11/41994550/trumps-national-intelligence-pick-is-cannabis-advocate-tulsi-gabbard-critics-say-former-congresswoman-parrots-russia-propaganda">Tulsi Gabbard </a>and <a href="https://www.benzinga.com/markets/cannabis/24/11/41828359/could-trumps-go-wild-on-health-invite-to-rfk-jr-drive-changes-for-cannabis-and-psychedelics">Robert F. Kennedy Jr.</a> as reasons for optimism. 
"Until the cabinet is named and things happen, there's concern, but I'm very positive," Kazan concluded, noting that the overall trajectory remains promising for the industry.
The Benzinga Cannabis Market Spotlight in Anaheim brought together industry leaders to discuss trends, investment strategies, and the future of cannabis in California's evolving landscape.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/legal/24/11/41994550/trumps-national-intelligence-pick-is-cannabis-advocate-tulsi-gabbard-critics-say-former-congresswoman-parrots-russia-propaganda">Trump&#8217;s National Intelligence Pick Is Cannabis Advocate Tulsi Gabbard: Critics Say Former Congresswoman Parrots Russia Propaganda</a></li>
</ul>

Events

Interview

Glass House CEO Calls For Unity In California Cannabis Market, Optimistic About Federal Reform

The Joe Rogan Experience or JRE premiered exclusively on Spotify Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>) in Sept. 2020 as part of a <a href="https://www.benzinga.com/news/22/02/25708354/joe-rogans-deal-with-spotify-worth-at-least-double-of-what-was-previously-reported-nyt">multi-year deal</a> reportedly valued at $200 million. This deal wasn&#8217;t just big news for podcasting fans—it was a major moment for investors, too.
Rogan&#8217;s Impact On Spotify&#8217;s Growth
Spotify's exclusive deal with Rogan was a bet that paid off in multiple ways. Since the partnership, podcast consumption on the platform skyrocketed by 232%, according to the company.
Advertisers took notice, fueling a 2023 revenue increase of 80% since 2021. Rogan's show, consistently the world's most-streamed podcast, played a major role in turning Spotify into a podcasting giant.
Rogan&#8217;s podcast also held the top spot on <a href="https://www.benzinga.com/general/entertainment/23/11/36004998/joe-rogan-tops-spotifys-2023-podcasts-list-once-again-deal-likely-to-expire-in-2024-a-major">Spotify&#8217;s podcast chart</a> for the fourth year in a row in 2023.
See Also: <a href="https://www.benzinga.com/general/entertainment/24/11/41959787/tradepulse-power-inflow-alert-spotify-technology-s-a-climbs-over-5-after-tradepulse-alert">Tradepulse Power Inflow Alert: Spotify Technology S.A. Climbs Over 5% After Tradepulse Alert</a>
How $1,000 Invested In Spotify Has Grown
If you had invested $1,000 in Spotify stock on Sept. 1, 2020 — the day Rogan's show debuted exclusively on the platform — that investment would now be worth approximately $1,696.
This represents a solid return of 69.7%, outpacing the broader market indexes. For context, the S&amp;P 500 rose 68.7%, and the Nasdaq Composite gained 60% over the same period.
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="626" height="450" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/14191145/newplot-4-1.png" alt="" class="wp-image-649260" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/14191145/newplot-4-1.png 626w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/14191145/newplot-4-1-300x216.png 300w" sizes="(max-width: 626px) 100vw, 626px" /><figcaption class="wp-element-caption">Value of a $1,000 investment in Spotify stock, versus the S&amp;P 500 and Nasdaq, respectively, from Sept. 1, 2020, to Nov. 14, 2024.</figcaption></figure>
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="650" height="450" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/14191325/newplot-8.jpeg" alt="" class="wp-image-649262" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/14191325/newplot-8.jpeg 650w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/14191325/newplot-8-300x208.jpeg 300w" sizes="(max-width: 650px) 100vw, 650px" /><figcaption class="wp-element-caption">SPOT&#8217;s price trajectory since JRE debuted on the platform</figcaption></figure>
A New Chapter For JRE And Spotify
Earlier this year, Spotify renewed its partnership with Rogan, but the show will <a href="https://www.benzinga.com/markets/equities/24/02/36914209/spotify-inks-multiyear-deal-with-podcast-king-joe-rogan-amid-shifting-strategy">no longer be exclusive</a> to the platform, expanding to Apple, Amazon, and Google&#8217;s YouTube.
Earlier this month, Spotify released its <a href="https://www.benzinga.com/general/entertainment/24/11/41920955/spotify-stock-climbs-despite-q3-eps-revenue-misses">third-quarter financial results</a> reporting earnings of $1.46 per share, which fell short of the analyst consensus of $1.76.
Quarterly revenue came in at $3.99 billion, missing the expected $4.02 billion but reflecting an increase from $3.65 billion in the same quarter last year.
SPOT Price Action: Spotify shares ended Thursday&#8217;s session up 2.17%, closing at $477.50. In after-hours trading, however, the stock dipped slightly, settling at $476 as of the latest update, according to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/24/11/41941113/these-analysts-increase-their-forecasts-on-spotify-following-q3-earnings">These Analysts Increase Their Forecasts On Spotify Following Q3 Earnings</a></li>
</ul>
Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.

Tech

SPOT

If You Dropped $1,000 On Spotify When Joe Rogan's Show Became An Exclusive, Here's How Much You'd Have Today

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

TKLF

Tilray Medical, a division of Tilray Brands (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLRY#NASDAQ">TLRY</a>), <a href="https://www.globenewswire.com/en/news-release/2024/11/14/2981031/0/en/Tilray-Medical-Launches-its-First-Commercial-Grown-in-Germany-Medical-Cannabis-Products-Under-its-Newly-Expanded-Cultivation-License.html">announced</a> the launch of its first commercial <a href="https://www.benzinga.com/topic/germany-cannabis">medical cannabis</a> products cultivated in <a href="https://www.benzinga.com/topic/germany-cannabis">Germany</a>. 
The debut comes from its Aphria RX facility, marking a milestone under the country's recently updated cultivation regulations, MedCanG. 
<h3 class="wp-block-heading">New Cultivation License Drives Local Production</h3>
Tilray was the first company to secure the new cannabis cultivation license under MedCanG in July 2024. 
This regulatory shift allows Aphria RX to grow and manufacture a variety of popular medical cannabis strains that were previously imported. 
The indoor-grown products are expected to offer consistent quality tailored to German patients&#8217; preferences:
"Our Made in Germany premium cannabis products represent a significant step forward in delivering high-quality medical cannabis to patients," said Denise Faltischek, Tilray's chief strategy officer. "This achievement strengthens our position as a leader in cultivation, production, and distribution, while demonstrating our commitment to the German medical cannabis community."
Read Also: <a href="https://www.benzinga.com/government/regulations/24/11/41885393/germanys-govt-coalition-crisis-is-cannabis-reform-at-risk">Germany&#8217;s Govt. Coalition Crisis, Is Cannabis Reform At Risk?</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">Medical Cannabis Market Shows Strong Growth</h3>
Germany's medical cannabis market is rapidly expanding, driven by increased patient adoption that came after cannabis was re-listed as a<a href="https://www.benzinga.com/government/regulations/24/11/41885393/germanys-govt-coalition-crisis-is-cannabis-reform-at-risk"> non narcotic</a> substance. 
Companies like <a href="https://www.benzinga.com/markets/cannabis/24/09/40783859/european-cannabis-producer-cantourage-reports-62-revenue-increase-projects-positive-ebitda">Cantourage</a> Group Sell, <a href="https://www.benzinga.com/markets/cannabis/24/06/39277081/german-company-launches-largest-digital-platform-for-medical-cannabis-in-all-europe">Bloomwell</a> and <a href="https://www.benzinga.com/government/regulations/24/11/41884236/exclusive-persistence-pays-off-for-only-cannabis-distributor-in-bavarias-developing-market">Drapalin</a> have reported record revenue, with projections suggesting continued robust growth. 
The shift toward local cultivation by companies like Tilray reflects the broader industry trend of securing supply chains, since most cannabis in Germany is <a href="https://www.benzinga.com/markets/cannabis/24/08/40369868/medical-marijuana-imports-in-germany-increase-51-yoy-following-reform-cannabis-clubs-still-face-">imported</a>, mainly from Canada. 
Medical cannabis, however, continues to gain traction, with sales projected to reach <a href="https://www.benzinga.com/markets/cannabis/24/09/40783859/european-cannabis-producer-cantourage-reports-62-revenue-increase-projects-positive-ebitda">$1.09 billion</a> by 2028. Recent regulatory changes have streamlined access, treating medical cannabis similarly to over-the-counter medications like ibuprofen. 
While Germany has taken steps toward partial cannabis legalization, full-scale recreational sales <a href="https://www.benzinga.com/government/regulations/24/11/41885393/germanys-govt-coalition-crisis-is-cannabis-reform-at-risk">remain on hold</a>. 
<ul>
<li>Read Next: <a href="https://www.benzinga.com/government/regulations/24/11/41884236/exclusive-persistence-pays-off-for-only-cannabis-distributor-in-bavarias-developing-market">EXCLUSIVE: Persistence Pays Off For Only Cannabis Distributor In Bavaria&#8217;s Developing Market</a></li>
</ul>
Cover: AI generated image

Eurozone

TLRY

Tilray Joins German Cannabis Fiesta With First Locally Grown Strains

Third Point, a hedge fund, filed its <a href="https://www.sec.gov/Archives/edgar/data/1656456/000165645624000004/xslForm13F_X02/Form13FInfoTable.xml">Form 13F</a> on Thursday, revealing the fund's trades from the prior quarter. Here's a look at Third Point's most <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41397978/hedge-fund-billionaire-daniel-loeb-bets-on-trump-win-singles-out-this-recent-buy-as">significant recent trades. </a>
New Positions: Third Point opened a total of nine positions during the quarter. The most notable are below.&nbsp;
<ul>
<li>Third Point added a stake in Brookfield Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BN#NYSE">BN</a>) with 4.725 million shares valued at $251.1 million, according to data from Whalewisdom. </li>
<li>The fund opened a position in Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) with 400,000 shares. </li>
<li>Third Point opened a position in CVS Health Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVS#NYSE">CVS</a>) with 1,575,000 shares. </li>
</ul>
Read More: <a href="https://www.benzinga.com/general/social-media/24/11/41993328/trump-media-insiders-sell-more-than-16-million-in-djt-stock">Trump Media Insiders Sell More Than $16 Million In DJT Stock</a>
Closed Positions: The hedge fund closed out 11 positions with the most notable being American International Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AIG#NYSE">AIG</a>), Verizon Communications Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VZ#NYSE">VZ</a>) and its entire stake in Micron Technology, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>). 
Notable Trades: Third Point added 1,085,000 shares to its stake in Intercontinental Exchange Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ICE#NYSE">ICE</a>), bringing its current position to 2,085,000 shares valued at $334.9 million, according to Whalewisdom. The fund reduced its stake in Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) by 1,400,000 shares with 3,700,000 shares still held. 
Third Point also sold 555,000 Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) shares, more than half its stake in the company, but still holds 545,000 Meta shares valued at approximately $311.9 million, according to Whalewisdom.
Read Next:&nbsp;
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<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: Shutterstock

Hedge Funds

Third Point Hedge Fund Buys Tesla, Dumps Micron

In a market marked by mergers, acquisitions and growing consolidation, Garden Greens is not following the typical playbook. While large operators focus on the CPG model of uniformity and constant supply, Garden Greens takes a more adaptable approach by understanding demand cycles and responding creatively to consumer preferences.
As the industry undergoes massive consolidation, with big companies scooping up smaller players, Garden Greens stands out by keeping its product offerings fresh and exclusive. Rather than sticking to a fixed lineup, they frequently discontinue strains to build hype and create new demand.
In a time when the market favors the largest players, Garden Greens proves that a street-smart, flexible approach can help small and medium cannabis companies thrive.
Josh Krane, general manager at Garden Greens, brings a wealth of experience to the operation. With his roots in the hash-making business in Los Angeles, Krane has a deep understanding of the cannabis culture that many corporate operators lack. "You have to strip away all ego," he shared with Benzinga Cannabis, "and learn everything from the ground up."
<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">Beyond Standardization&nbsp;</h3>
Garden Greens operates under the principle that diversity and creativity are key to creating real demand. Krane's strategy is clear: "We're not just trying to scale. We're trying to build something<a href="https://www.benzinga.com/topic/cannabis-marketing"> consumers want</a>—something they've never had before."
At Garden Greens, running out of a strain isn&#8217;t a failure, it&#8217;s an opportunity to create excitement and engage consumers in a conversation. "We purposely let some strains go out of stock. We get more data from a strain being out of stock and consumers asking for it than from always having it available." 
Read Also:<a href="https://www.benzinga.com/markets/cannabis/24/11/41831831/no-middleman-no-markup-how-red-mesa-is-slashing-costs-with-around-the-clock-hemp-refinement"> No Middleman, No Markup: How Red Mesa Is Slashing Costs With Around-The-Clock Hemp Refinement</a>
<h3 class="wp-block-heading">The Power Of Genetics For Consumer Engagement&nbsp;</h3>
"We've released about 46 strains, and we deliberately let some go out of stock to build anticipation for new drops," says Krane.
The company runs nine flowering rooms and operates on a perpetual harvest cycle, allowing them to rotate and test new strains while ensuring consistent, high-quality output. &#8220;We're in perpetual harvest. We run about a nine-week flowering cycle. Every week, I have one room being harvested and then reset and replanted."
This perpetual harvest cycle ensures a steady supply of products while keeping the operation fluid and adaptable.
<a href="https://ggcann.com/">Garden Greens' flowering rooms</a> are designed for multi-cropping. At optimal capacity, they can handle up to four strains at a time. The company's strategy is to start with strains that have proven successful in other markets, strains they enjoy growing and smoking, and that will deliver predictable yields and potency.&nbsp;
Throughout a nine-week cycle, up to 36 strains can be tested and rotated through. Krane goes on to explain the rotation process: "We start layering those strains in, four at a time, a week at a time." Initially, they cycle in a set of 18 strains before introducing new ones for testing and evaluation.&nbsp;The company currently rotates major groups of genetics, all selected based on their similar growing needs. 
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/11/41828889/exclusive-surviving-chavezs-venezuela-to-cbd-crash-ceo-reveals-how-to-profit-in-a-market-stuck-o">EXCLUSIVE: From Surviving Chavez&#8217;s Venezuela To The CBD Crash &#8211; CEO Reveals How To Profit In A Market Stuck On Repeat</a>
<h3 class="wp-block-heading">Fashion, Not CPG</h3>
Garden Greens has adopted a &#8220;fashion drop&#8221; mentality rather than trying to mirror<a href="https://www.benzinga.com/markets/cannabis/23/06/33061096/turnaround-potential-amazon-nestl-and-p-g-who-will-revive-dying-cannabis-brands"> CPG businesses</a> that focus on <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/06/39469809/cannabis-vs-coca-cola-and-marlboro-marijuana-market-growth-outpaces-alcohol-tobacco">mass production</a> and brand consistency. The company builds anticipation before each <a href="https://www.benzinga.com/topic/cannabis-branding">new strain hits the market</a> by creating a sense of scarcity and exclusivity. "It's like a sneaker drop. We build up excitement for a product, and once it's gone, it's gone. We've built that by offering something they can't find anywhere else," Krane says.
<h3 class="wp-block-heading">Cash Flow Positive&nbsp;&nbsp;</h3>
The company relies on debt financing, with plans to repay investors within 24 months and switch to quarterly dividends afterward. "We've been able to stay cash flow positive and meet our financial goals while maintaining authenticity. We prioritize quality and innovation over cost-cutting measures that might please investors but compromise the product." 
Garden Greens' financial success stems from a combination of <a href="https://www.benzinga.com/markets/cannabis/24/09/40886620/how-this-former-dea-consultant-is-making-craft-cannabis-profitable-in-new-jersey-a-dirt-y-little">experienced workers and operational management </a>rolled with a smart approach to capital deployment. Krane and his team initially focused on infrastructure, construction, and culivation systems. 
Read Also:<a href="https://www.benzinga.com/general/biotech/24/10/41394513/sold-out-before-hitting-shelves-why-did-ayr-wellness-snatch-up-this-local-cannabis-brand"> Sold Out Before Hitting Shelves: Why Did AYR Wellness Snatch Up This Local Cannabis Brand?</a>
<h3 class="wp-block-heading">Price Is Right: Craft Cannabis Finds The Sweet Spot For Premium And Value</h3>
Krane's pricing strategy at Garden Greens is all about balance, catering to both high-end connoisseurs and budget-minded buyers. "We offer premium products that can sell for up to $140 per quarter, but we also provide more affordable options with our ‘Pete's Farmstand' line."
This dual-pricing model allows Garden Greens to appeal to a wide range of consumers. Limited-edition premium drops attract top-tier buyers, while the value line ensures accessibility without sacrificing quality.&nbsp;
The approach reflects Krane's deep understanding of the New Jersey market, where underground cannabis still influences price expectations. "I've seen top-shelf cannabis go for $150 or more in the underground scene," Krane notes, highlighting the competitive edge of Garden Greens&#8217; pricing.
Initially, the company aligned its premium prices with <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41725186/with-200-new-dispensaries-and-four-states-voting-on-legalizing-cannabis-could-marke">multi-state operators (MSOs) to match established market expectations</a>. "We chose to match the MSO price points for premium cannabis to remain competitive," Krane says. This strategy positioned Garden Greens to compete head-on while still meeting quality standards.
Read Next: <a href="https://www.benzinga.com/markets/cannabis/24/10/41382006/hemp-thrives-in-texas-shops-near-schools-why-this-company-bet-on-the-countrys-most-regulated-can">Hemp Thrives In Texas Shops Near Schools: Why This Company Bet On The Country&#8217;s Most Regulated Cannabis Market</a>

Biotech

Market Summary

Entrepreneurship

Retail Sales

Startups

Exclusives

Selling Weed Is Like A Sneaker Drop: Running Out Isn't A Problem For This Company

Dropbox Non-GAAP EPS of $0.60 beats by $0.07, revenue of $638.8M beats by $1.61M

Sees Q4 operating margin 36%. Comments taken from investor presentation slides. Published first on TheFly – the ultimate source for real-time, mark...

Dropbox sees Q4 revenue $637M-$640M, consensus $642.3M

Raises FY24 gross margin view to 84% from 83.0%-83.5%. Cuts FY24 free cash flow view to $860M-$875M from $910M-$950M. Published first on TheFly – t...

Dropbox affirms FY24 revenue view of $2.54B-$2.55B, consensus $2.55B

Dropbox, Inc. 2024 Q3 - Results - Earnings Call Presentation

Dropbox, Inc. (DBX) Q3 2024 Earnings Call Transcript

In a report released today, Rishi Jaluria from RBC Capital maintained a Buy rating on Dropbox (DBX – Research Report), with a price target of $32.0...

Dropbox (DBX) Receives a Buy from RBC Capital

JFrog slips as earnings season hops along while pair of semis rebound

As Q4 nears, undervalued tech stocks offer growth potential, especially in sectors like AI. Therefore, you might want to tap into this opportunity to invest in undervalued tech stocks like TD SYNNEX Corp (SNX), Jabil (JBL), and Dropbox (DBX) for long-term gains. Read on… As the tech sector heads into Q4 with factors like recent market corrections, profit-taking after a volatile year, and stronger-than-expected earnings in sub sectors like cloud computing and semiconductors, the companies are showing signs of potential rebound.
Amid this backdrop, investors looking for an opportunity to invest might consider adding strong fundamental tech stocks, TD SYNNEX Corporation (<a href="https://stocknews.com/stock/SNX/">SNX</a>), Jabil Inc. (<a href="https://stocknews.com/stock/JBL/">JBL</a>), and Dropbox, Inc. (<a href="https://stocknews.com/stock/DBX/">DBX</a>), as they are trading at discounts.
With market sentiment starting to improve and economic data stabilizing, there has been a bull market momentum for tech stocks. Out of eleven S&amp;P 500 sectors, the information technology sector is ranked ninth, where it is the largest sector, comprising <a href="https://www.usbank.com/investing/financial-perspectives/market-news/investing-in-tech-stocks.html">nearly 32% of the index's value</a>.
As companies lean more into digital transformation, tech stocks in software, hardware, and cloud sectors are anticipated to benefit from increasing demand. For the tech sector specifically, analysts are optimistic about a potential return to modest growth in 2024, <a href="https://www2.deloitte.com/us/en/pages/technology-media-and-telecommunications/articles/technology-industry-outlook.html">with more robust prospects for 2025</a>. As per the Deloitte report, economists project that AI-related investments <a href="https://www2.deloitte.com/content/dam/Deloitte/us/Documents/technology-media-telecommunications/2024-tmt-outlook-technology.pdf">will reach $200 billion</a> globally by 2025.
According to <a href="https://www.statista.com/outlook/tmo/it-services/worldwide">Statista</a>, the global IT services market is anticipated to reach $1.88 trillion by 2029, growing at a CAGR of 5.8%. Moreover, analysts expect growth-oriented stocks to recover, especially those with proven innovation and robust cash flows, setting the stage for undervalued tech stocks to gain renewed interest.
Considering these conducive trends, let's assess the fundamentals of the three abovementioned <a href="https://stocknews.com/category/technology-services/">Technology - Services</a> stocks, starting with the third choice.
Stock #3: TD SYNNEX Corporation (<a href="https://stocknews.com/stock/SNX/">SNX</a>)
SNX operates as a global distributor and solutions aggregator for the IT ecosystem. It has two primary solution portfolios: Endpoint Solutions and Advanced Solutions. The company provides personal computing devices, endpoint technology software, and a range of data center technologies, including hybrid cloud, security, storage, networking, servers, and computing components.
On October 15, SNX's subsidiary, Hyve Solutions Corporation, announced the launch of its Orion product line featuring the NVIDIA HGX platform. These solutions are optimized for the NVIDIA Hopper platform and are fully compatible with the NVIDIA Blackwell platform, ensuring customers address both present and emerging AI computational needs. The new launch offers a seamless solution to the customers.
On October 10, SNX launched its Destination AI Practice Accelerator to fast-track AI go-to-market efforts and monetization for partners. This launch enables partners to identify AI opportunities for their end customers and build an AI practice to meet those needs with a customized strategy and support.
In terms of forward non-GAAP <a href="https://www.investopedia.com/terms/p/price-earningsratio.asp">P/E</a>, SNX is trading at 9.86x, 58.9% lower than the industry average of 24.00x. Likewise, the stock's forward EV/Sales and Price/Sales multiples of 0.22 and 0.17 are 92.4% and 94.2% lower than their respective industry averages of 2.95 and 2.93.
In the fiscal third quarter that ended on August 31, 2024, SNX's revenue increased 5.2% year-over-year to $14.68 billion. The company reported an operating income[AD1]  of $302.88 million, indicating a 26.1% growth from the prior-year quarter.
SNX's net income came in at $178.56 million, up 28.2% year-over-year, while its non-GAAP earnings per share grew 2.9% from the year-ago value to $2.86.
Analysts expect SNX's revenue for the fiscal year (ending November 2024) to increase marginally year-over-year to $57.90 billion, while its EPS for the same period is expected to grow 3.53%from the prior year's period to $11.66.
The stock has gained 24.2% over the past year and 14.4% over the past nine months to close the last trading session at $115.50.
SNX's <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a> reflect this robust outlook. The stock has an overall rating of B, which equates to Buy in our proprietary rating system. The POWR Ratings are calculated by considering 118 different factors, with each factor weighted to an optimal degree.
SNX has a B grade for Value and Sentiment. It is ranked #18 out of 77 stocks in the <a href="https://stocknews.com/category/technology-services/">Technology - Services</a> industry. <a href="https://stocknews.com/stock/SNX/">Click here</a> to see the additional ratings for SNX (Growth, Momentum, Stability, and Quality).
Stock #2: Jabil Inc. (<a href="https://stocknews.com/stock/JBL/">JBL</a>)
JBL is a worldwide provider of manufacturing services and solutions. It operates in two segments: Electronics Manufacturing Services and Diversified Manufacturing Services. The company specializes in electronics design, production, product management, circuit design, firmware development, prototyping, and the design of plastic and metal enclosures with integrated electro-mechanical components like PCBA.
On October 14, JBL introduced an expansion of its server portfolio with the J421E-S and J422-S servers, powered by AMD 5th Generation EPYC and Intel Xeon 6 processors. This addition is efficient, high in performance, and optimized for AI, FinTech, and cloud applications.
On October 3, JBL completed its acquisition of Mikros Technologies LLC, a leader in the engineering and manufacturing of liquid cooling solutions for thermal management. This acquisition will allow JBL to extend its range of services and will also help its customers manage the intense thermal requirements of their current and next-generation products.
In terms of forward non-GAAP P/E, JBL is trading at 15.07x, 37.2% lower than the industry average of 24.00x. Likewise, the stock's forward EV/Sales and Price/Cash Flow multiples of 0.58 and 0.53 are 80.2% and 81.8% lower than the industry averages of 2.95x and 2.93x, respectively.
JBL's net revenue for the fiscal 2024, which ended on August 31, stood at $28.88 billion. Its operating income grew 31% from the prior year's period to $2.01 billion.
The company's net income attributable rose 69.7% from the year-ago value to $1.39 billion, while its EPS stood at $11.17, up 85.5% year-over-year. In addition, JBL's adjusted free cash flow rose 2.8% from the year-ago value to $1.06 million.
Street expects SNX's revenue for the fiscal third quarter (ending May 2025) to increase marginally year-over-year to $6.81 billion. Its EPS for the same period is expected to register a 20.1% growth from the prior year, settling at $2.27. In addition, it surpassed the EPS in three of the trailing four quarters, which is promising.
JBL shares have surged 17.1% over the past three months and 11.6% over the past six months to close the last trading session at $127.67.
It's no surprise that JBL has an overall rating of B, equating to a Buy in our POWR Ratings system. It has an A grade for Momentum and a B for Growth, Value, and Quality. Out of 77 stocks in the same industry, JBL is ranked #8.
Beyond what is stated above, we've also rated JBL for Stability and Sentiment. Get all JBL's ratings <a href="https://stocknews.com/stock/JBL/">here</a>.
Stock #1: Dropbox, Inc. (<a href="https://stocknews.com/stock/DBX/">DBX</a>)
DBX provides tools to help distributed teams prioritize, get organized, and keep work moving securely from anywhere. The company's platform allows individuals, families, teams, and organizations to collaborate and sign up for free through its website or app and upgrade to a paid subscription plan for premium features.
On October 15, DBX announced Dropbox Dash for Business, an AI-powered universal search product. This launch makes it easy for teams to find, organize, share, and secure company information, which helps save time and cost.
In terms of forward non-GAAP P/E, DBX is trading at 11.60x, which is 51.7% lower than the industry average of 24.00x. The stock's forward Price/Cash Flow ratio of 8.88x is 58.5% below the industry average of 21.38x. Also, its forward EV/EBITDA multiple of 9.31 compares to the industry average of 14.51x.
For the second quarter of 2024, which ended on June 30, DBX's total revenues increased marginally year-over-year to $634.50 million. Its non-GAAP income from operations stood at $227.90 million, indicating a 6.9% growth from the prior-year quarter, with a non-GAAP operating margin of 35.9% (up 170 bps year-over-year).
DBX's non-GAAP net income amounted to $194.10 million and $0.60 per share, reflecting 11.6% and 17.6% year-over-year increases, respectively. Also, the company's non-GAAP free cash flow grew by 21.7% from the year-ago value to $224.7 million.
The consensus revenue estimate of $642.81 million for the fiscal fourth quarter (ending December 2024) represents a marginal increase year-over-year. The consensus EPS estimate of $0.53 for the same quarter indicates a 5.1% improvement year-over-year. The company has an impressive surprise history; it surpassed the consensus revenue and EPS estimates in each of the trailing four quarters.
Over the past three months, the stock has gained 11.9%, closing the last trading session at $25.98.
DBX's bright prospects are reflected in its POWR Ratings. The stock has an overall rating of A, which translates to a Strong Buy in our proprietary rating system.
It also has an A grade of Quality and a B for Value. Within the Technology - Services industry, it is ranked #6. <a href="https://stocknews.com/stock/DBX/">Click here</a> to see DBX's ratings for Growth, Momentum, Stability, and Sentiment.
What To Do Next?
Discover 10 widely held stocks that our proprietary model shows have tremendous downside potential. Please make sure none of these "death trap" stocks are lurking in your portfolio:
<a href="https://report.stocknews.com/free-report/10-stocks-to-sell/?formplacement=artbotad_10sell">10 Stocks to SELL NOW! &gt;</a>

<hr />
JBL shares were trading at $128.32 per share on Monday afternoon, up $0.65 (+0.51%). Year-to-date, JBL has gained 0.93%, versus a 21.27% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: ShreyaRathi</h2> <img src='https:/wp-content/uploads/2024/10/0.jpeg' style="float:left; padding:5px;width:125px;"><a href="https://stocknews.com/authors/?author=shreya-rathi">More...</a>The post <a href=https://stocknews.com/news/jbl-snx-dbx-3-undervalued-tech-stocks-to-buy-before-q4-rallies/>3 Undervalued Tech Stocks to Buy Before Q4 Rallies</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

3 Undervalued Tech Stocks to Buy Before Q4 Rallies

In a report released today, Patrick Walravens from JMP Securities maintained a Hold rating on Dropbox (DBX – Research Report). The company's shares...

Dropbox (DBX) Receives a Hold from JMP Securities

FFIV

FROG

INDI

JAMF

PDFS

PTCT

SYNA

Screenshot 2024-11-11 at 7.27.28 PM

Emerging Markets

Movers & Shakers

COUR

LYFT

SSSS

SuRo Capital (NASDAQ: SSSS) Allows The Everyday Investor Opportunities In Potentially High Growth Startups Like OpenAI And CoreWeave

Press Releases

Dropbox Announces Fiscal 2024 First Quarter Results

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Dropbox Announces Fiscal 2024 Second Quarter Results

Similarweb Welcomes Lisa Campbell and Barak Eilam to its Board of Directors

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Bentley Systems

CCC Intelligent Solutions Holdings Inc. - Common Stock

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목요일 시장 마감 후 드롭박스(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DBX#NASDAQ">DBX</a>)가 1분기 재무 결과를 발표했다.여기에서 <a href="https://www.benzinga.com/pressreleases/24/05/b38743108/dropbox-announces-fiscal-2024-first-quarter-results">자세한 내용을 살펴보자. </a>
주요 사항 (The Details): 드롭박스는 분기별 주당 이익을 58센트로 보고했는데, 이는 분석가들의 합의 추정치인 50센트를 16% 앞선 것이다. 분기별 매출은 6억 3,130만 달러로 분석가 컨센서스 추정치인 6억 2,867만 달러를 웃돌았으며 지난해 같은 기간보다 매출 6억 1,110만 달러보다 3.31% 증가했다.
드롭박스는 이번 분기에 1,816만 명의 유료 사용자를 보고했는데, 이는 작년 같은 기간의 1,790만 명과 비교된다. 유료 사용자는 전분기 대비 35,000명 증가했다. 유료 사용자당 평균 매출은 139.59달러로 지난해 같은 기간의 138.97달러와 비교된다.
1분기 총 연중 반복 매출(ARR)은 25.56억 달러로, 지난해 동기 대비 3.6% 증가했다.
비GAAP 총이익률은 84.6%로 지난해 같은 기간의 82.4%와 비교된다.
드롭박스 CEO인 드류 휴스턴(Drew Houston)은 &#8220;1분기에 핵심 사업이 예상대로의 매출과 예상 이상의 이익을 창출할 수 있었다. 우리는 최근 사용자가 다양한 장치, 위치 및 플랫폼에서 콘텐츠를 더욱 쉽게 보호, 구성 및 공유할 수 있도록 설계된 제품 업데이트 컬렉션을 발표했다. 앞으로도 우리는 고객을 위한 분산 작업을 개선하기 위해 AI 기반 제품 경험 구축에 초점을 맞춘 성장 이니셔티브에 투자하는 동시에 운영에 있어 규율을 유지할 것&#8221;이라고 말했다.
DBX 주가 움직임: <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">벤징가 프로</a>에 따르면, 드롭박스의 주식은 목요일 시간외 거래에서 1.99% 상승한 23.60달러에 거래되었다.
관련 뉴스: <a href="https://www.benzinga.com/news/24/05/38741220/whats-going-on-with-pelotons-stock">펠로톤의 주가에 대한 소식은?</a>
사진: 셔터스톡

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금요일, 5월 10, 2024

사람들이 또한 지켜본다

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