KraneShares Trust KraneShares CSI China Internet ETF (ARCA: KWEB)

에 대한 최신 뉴스 KraneShares Trust KraneShares CSI China Internet ETF (ARCA:KWEB)

KraneShares Trust KraneShares CSI China Internet ETF

Consumer Cyclical

Communication Services

Industrials

Technology

Consumer Defensive

Healthcare

Real Estate

Financial Services

Other

traded China-based companies whose main business are inthe Internet and Internet-related sectors. The Fund will seekto do so by tracking the performance of the CSI OverseasChina Internet Index (the Index) as closely as possible.

Tencent Holdings Limited

PDD Holdings Inc

Meituan Dianping

KraneShares CSI China Internet ETF

Asia

Federal Reserve

ETFs

KWEB

MCHI

중국 국가통계국(NBS)에 따르면 부동산 부문은 투자와 주택 가격이 하락한 반면, 산업 생산은 5월에 5.6% 증가했다고 한다. 산업 생산은 4월보다 둔화되어 블룸버그 전망을 하회했다. 소매 판매는 예상보다 좋았지만 중국 소비자들은 여전히 ​​팬데믹 이전의 소비 습관으로 돌아가는 것을 꺼리고 있다고 블룸버그가 보도했다.

중국 주택시장 침체 심화, 산업 생산은 4월에 비해 둔화, 인민은행 금리 동결

Equities

News

Global

Markets

Tech

BABA

LNVGF

MPNGF

Citigourp Global Markets 2% Protected Notes Linked To The Djia

TCEHY

중국 기술주는 차익실현과 지정학적 불확실성으로 인해 기술적 조정에 가까워지는 등 상당한 하락세를 보이고 있다. 사건의 전말 (What Happened): 홍콩에 상장된 중국 기술주를 추적하는 항셍테크지수는 금요일 0.9%나 하락했다. 블룸버그에 따르면 이러한 하락으로 인해 이 지수는 5월 20일 최고치보다 10% 이상 하락했으며 이는 기술적 조정을 나타낸다.

알리바바와 텐센트의 가격 인하로 中 기술 업계 냉각: 이익 압박, 무역 긴장에 주가 하락

Government

Large Cap

Macro Economic Events

Regulations

REIT

Specialty ETFs

Commodities

Econ #s

Economics

Movers

시진핑 정부는 어려움을 겪고 있는 중국 부동산 시장을 구하기 위해 지금까지 가장 공격적인 조치를 도입했다. 목요일, 베이징은 모기지 규제 완화를 포함한 새로운 계획을 발표하고 지방 정부에 미분양 주택 구입을 촉구했다. 이는 해당 부문이 경제 성장에 미치는 영향에 대한 당국의 높아진 우려를 반영한 ​​것이다.

중국, 미판매 부동산 매입으로 경기 부양에 매진: 중국 주식 급등, 구리 사상 최고치 기록

Twenty-nine National Basketball Association teams will attempt to ruin the back-to-back championship ambitions of the <a href="https://www.benzinga.com/general/sports-betting/24/06/39382135/portnoy-wins-big-with-boston-celtics-nba-championship-rapper-drake-loses-500k-and-could-lo">reigning champ Boston Celtics.</a>
After free agency, several teams saw their betting odds improve, including one NBA team that is publicly traded.
What Happened: While many struggling NBA teams looked to turn their fortunes around with the <a href="https://www.benzinga.com/general/sports-betting/24/06/39513625/2024-nba-draft-no-clear-no-1-favorite-bronny-james-shakes-up-odds-people-are-always-intrig">2024 NBA Draft</a>, several key NBA championship contenders took to free agency to land new signings or utilized trades to send draft picks for assets that could help them win now.
The Celtics are heavy favorites to win back-to-back NBA championships. Here's a look at the current odds from DraftKings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DKNG#NASDAQ">DKNG</a>) and the betting odds prior to the NBA Draft and start of free agency:
Boston Celtics: +295 (+290)
Philadelphia 76ers: +800 (+1,300)
Oklahoma City Thunder: +850 (+850)
Denver Nuggets: +850 (+800)
New York Knicks: +950 (+1,000)
Minnesota Timberwolves: +1,000 (+1,000)
Dallas Mavericks: +1,000 (+1,100)
Milwaukee Bucks: +1,100 (+1,000)
Los Angeles Lakers: +3,000 (+3,000)
Phoenix Suns: +3,500 (+3,000)
The Celtics are currently the best preseason favorite to win an NBA championship since the 2017-2018 season, when the Golden State Warriors were listed at -180. The Warriors won a title that season, and nine of the last 16 preseason favorites have won the NBA title, as <a href="https://www.espn.com/nba/story/_/id/40375142/celtics-enter-offseason-clear-cut-favorite-repeat">ESPN</a> reported.
To challenge the Celtics, several teams made big moves. The 76ers added Paul George in free agency to give the team a "Big 3" of George, Joel Embiid and Tyrese Maxey.&nbsp; The Thunder added Isaiah Hartenstein in free agency and acquired Alex Caruso via trade. The Mavericks added Klay Thompson in free agency.
One of the biggest offseason transactions was the Knicks trading multiple draft picks to get Mikal Bridges from the Brooklyn Nets. Bridges averaged 19.6 points, 4.5 rebounds and 3.6 assists in 82 games last season, tying his career highs for average rebounds and assists per game.
Read Also: <a href="https://www.benzinga.com/etfs/broad-u-s-equity-etfs/24/06/39436993/sportonomics-why-investing-in-american-sports-franchises-has-doubled-the-returns-of-th">Sportonomics: Why Investing in American Sports Franchises Has Doubled The Returns Of The Market</a>
Why It's Important: The Knicks are now one of the favorites to win the NBA championship, which comes a season after finishing second in the Eastern Conference.
Along with bettors backing the Knicks, investors can also support the team, as the Knicks are owned by the publicly traded Madison Square Garden Sports (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSGS#NYSE">MSGS</a>).
The Knicks are one of the most valuable NBA teams, ranked second at $6.6 billion by <a href="https://www.forbes.com/lists/nba-valuations/">Forbes</a>, and have a large fan base.
When it comes to postseason success, the team has struggled, last winning an NBA title in 1973 and last reaching the NBA Finals in 1999.
The Knicks have made the playoff in three of the last four seasons, ending a seven-season drought in 2021, but have not advanced past the second round since 2000.
With Bridges on the team, bettors and Knicks fans have high hopes for the upcoming season. A championship could boost the overall valuation of the team and likely its stock.
Shares of the publicly traded Atlanta Braves Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BATRA#NASDAQ">BATRA</a>), for example, now trade higher than they did when the MLB team <a href="https://www.benzinga.com/news/21/11/23856231/atlanta-braves-win-their-first-world-series-title-since-1995-what-investors-should-know">won their last championship in 2021</a> and ended a 26-year title drought.
Along with the Knicks being a strong betting choice for the NBA championship, the NHL's New York Rangers are ranked fifth in betting odds to win the next Stanley Cup at +1,300, compared to the leading Edmonton Oilers at +850.The Rangers are also owned by Madison Square Garden Sports.
Read Next: <a href="https://www.benzinga.com/general/sports/24/06/39420329/could-red-bull-join-the-nba-austrian-company-circles-sin-city-team-new-report-says">Could Red Bull Join The NBA? Austrian Company Circles Sin City Team, New Report Says</a>
Photo: Shutterstock

Sports Betting

Sports

Trading Ideas

BATRA

DKNG

MSGS

NBA Betting Odds Change Dramatically After Free Agency — Here's The Publicly Traded Sports Team For Investors To Watch

In a recent shareholder Q&amp;A, Nintendo ADR&#8216;s (OTC:<a class="ticker" href="https://www.benzinga.com/stock/NTDOY#OTC">NTDOY</a>) President Shuntaro Furukawa addressed the issue of generative artificial intelligence (AI) in video game development, a hot topic that has stirred significant debate within the <a href="https://www.benzinga.com/general/gaming">industry.</a>
<h3 class="wp-block-heading">The Mixed Blessing Of AI</h3>
<a href="https://www.ign.com/articles/nintendo-says-generative-ai-can-be-used-in-creative-ways-but-highlights-ip-issues">According</a> to IGN, Furukawa acknowledged the potential benefits of generative AI, noting it could be used "in creative ways." However, he also highlighted the risks, particularly regarding intellectual property rights.
See Also:<a href="https://www.benzinga.com/24/05/39013083/sony-executive-ai-enhances-personal-connections-in-video-games-for-gen-z-gen-alpha"> Sony Executive: AI Enhances Personal Connections In Video Games For Gen Z, Gen Alpha</a><a href=""></a>
&#8220;Generative AI, which is becoming a big topic recently, can be used in creative ways, but we recognize that it may also raise issues with intellectual property rights,&#8221; he said. 
<h3 class="wp-block-heading">Nintendo's Stance On Technological Advancements</h3>
As Nintendo prepares to unveil its next-generation console, Furukawa stressed the company&#8217;s commitment to leveraging technological advancements while maintaining its unique creative identity. 
&#8220;We have decades of know-how in creating the best gaming experiences for our players. While we are open to utilizing technological developments, we will work to continue delivering value that is unique to Nintendo and cannot be created by technology alone,&#8221; he said.
<h3 class="wp-block-heading">Industry Perspectives On AI</h3>
Nintendo&#8217;s cautious yet open stance contrasts with the approaches of its competitors. Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) is reportedly developing an AI chatbot for Xbox to automate support tasks, including game refunds and subscription issues.
Meanwhile, Sony Group Corp.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SONY#NASDAQ">SONY</a>) PlayStation Productions&#8217; head Asad Qizilbash highlighted AI&#8217;s potential to enhance player experiences through personalized interactions.
&#8220;For instance, non-player characters in games could interact with players based on their actions, making it feel more personal," Qizilbash said. "This is important for the younger Gen Z and Gen Alpha audiences, who are the first generations that grew up digitally and are looking for personalization across everything, as well as looking for experiences to have more meaning.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/general/gaming/24/03/37798791/survey-reveals-87-of-game-developers-embrace-open-source-amid-ai-concerns-layoff-fears">Survey Reveals 87% Of Game Developers Embrace Open-Source Amid AI Concerns, Layoff Fears</a></li>
<li><a href="https://www.benzinga.com/general/gaming/24/05/38952304/microsofts-ai-to-power-minecraft-and-other-xbox-pc-games">Microsoft&#8217;s AI To Power Minecraft And Other Xbox, PC Games</a></li>
</ul>
Photo by <a href="https://unsplash.com/es/@claudiolcastro?utm_content=creditCopyText&amp;utm_medium=referral&amp;utm_source=unsplash">Cláudio Luiz Castro</a> on <a href="https://unsplash.com/es/fotos/figura-de-super-mario-sobre-superficie-marron-_R95VMWyn7A?utm_content=creditCopyText&amp;utm_medium=referral&amp;utm_source=unsplash">Unsplash</a>

Gaming

General

MSFT

NTDOY

Sony Group Corporation American Depositary Shares

SONY

Nintendo's President Says AI Can Be 'Creative,' But Raises Intellectual Property Concerns

Benzinga examined the prospects for<a href="http://www.benzinga.com/trading-ideas"> many investors&#8217; favorite stocks</a> over the last week — here&#8217;s a look at some of our top stories.
U.S. stocks hit all-time highs during the shortened Independence Day trading week, buoyed by economic data that raised hopes the Federal Reserve might start cutting interest rates. The Nasdaq Composite surged 3.5%, the S&amp;P 500 rose nearly 2%, and the Dow lagged slightly with a 0.7% increase. 
Despite a stronger-than-expected job market report for June, revisions for prior months and a slight rise in the unemployment rate suggested a cooling economy. Additional signs of an economic slowdown emerged from the Institute for Supply Management Services PMI, which fell to its lowest <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39652289/stocks-rally-to-record-highs-as-investors-eye-interest-rate-cuts-labor-market-cools-tesla-">level since May 2020.</a>
Benzinga provides daily reports on the stocks most popular with investors. Here are a few of this past week&#8217;s most bullish and bearish posts that are worth another look.
<h3 class="wp-block-heading">The Bulls</h3>
&#8220;<a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39581531/trump-winning-the-election-would-be-major-catalyst-for-crypto-to-surge-says-investment-exp">Trump Winning The Election Would Be &#8216;Major Catalyst&#8217; For Crypto To Surge, Says Investment Expert</a>,&#8221; by <a href="https://www.benzinga.com/author/murtuza-merchant">Murtuza Merchant</a>, explains how Donald Trump&#8216;s potential election victory could boost the cryptocurrency market, including Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>), according to an investment expert.
&#8220;<a href="https://www.benzinga.com/trading-ideas/long-ideas/24/07/39582335/momentum-investor-praises-palantir-as-ai-halo-play-highlights-datadog-as-software-bottom">Momentum Investor Praises Palantir As AI Halo Play, Highlights Datadog As Stoware &#8216;Bottoming Process&#8217; Sets In</a>,&#8221; by <a href="https://www.benzinga.com/author/adam-eckert">Adam Eckert</a>, discusses a momentum investor&#8217;s positive outlook on Palantir Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>) due to its strong position in AI, while also noting Datadog Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DDOG#NASDAQ">DDOG</a>) as a promising investment at its current lows. 
&#8220;<a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39647203/dogecoin-dumps-as-whales-move-400-million-coins-trader-predicts-next-will-be-a-huge-reboun">Dogecoin Dumps As Whales Move 400 Million Coins, Trader Predicts &#8216;Next Will Be A Huge Rebound,&#8217;</a>&#8221; by <a href="https://www.benzinga.com/author/khyathi-dalal">Khyathi Dalal</a>, reports on significant whale activity amid Dogecoin&#8216;s (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) price drop, but one trader predicts a major rebound as large holders have moved 400 million DOGE.
For additional bullish calls of the past week, check out the following:
<a href="https://www.benzinga.com/top-stories/24/07/39607932/exclusive-tesla-shorts-were-profitable-this-year-until-shareholders-approved-musks-pay-package-exper">EXCLUSIVE: Tesla Shorts Were Profitable This Year Until Shareholders Approved Musk&#8217;s Pay Package, Expert Says</a>
<a href="https://www.benzinga.com/news/24/07/39604334/sofis-transaction-revenue-skyrockets-analyst-foresees-major-growth-higher-valuation">SoFi&#8217;s Transaction Revenue Skyrockets: Analyst Foresees Major Growth, Higher Valuation</a>
<a href="https://www.benzinga.com/news/24/07/39587744/nvidia-and-jensen-huang-fueling-tech-sector-boom-says-wedbush-analyst-dan-ives-for-every-1-spent-on">Nvidia And Jensen Huang Fueling Tech Sector Boom, Says Wedbush Analyst Dan Ives: &#8216;For Every $1 Spent On…&#8217;</a>
The Bears
&#8220;<a href="https://www.benzinga.com/news/24/07/39569902/tesla-fsd-training-hits-a-snag-elon-musk-says-new-version-rollout-delayed-due-to-driving-smoothness">Tesla FSD Training Hits a Snag, Elon Musk Says New Version Rollout Delayed Due to Driving Smoothness</a>,&#8221; by <a href="https://www.benzinga.com/author/anan-ashraf">Anan Ashraf</a>, reports that Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO Elon Musk announced delays in the rollout of Full Self-Driving (FSD) version 12 due to issues with driving smoothness, pushing back the deployment timeline despite significant advancements​.
&#8220;<a href="https://www.benzinga.com/markets/equities/24/07/39572952/gamestop-shares-take-a-hit-after-roaring-kitty-discloses-6-6-stake-in-chewy-and-faces-a-manipula">GameStop Shares Take a Hit After &#8216;Roaring Kitty&#8217; Discloses 6.6% Stake In Chewy And Faces A Manipulation Probe</a>,&#8221; by <a href="https://www.benzinga.com/author/pooja-rajkumari">Pooja Rajkumari</a>, discusses how GameStop Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>) shares fell following Keith Gill&#8216;s 6.6% investment in Chewy Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHWY#NYSE">CHWY</a>) and subsequent manipulation allegations​.
&#8220;<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39654001/nvidia-gets-rare-downgrade-over-concerns-that-demand-is-normalizing-in-line-with-ex">Nvidia Gets Rare Downgrade Over Concerns That Demand Is Normalizing &#8216;In Line With Expectations,&#8217;</a>&#8221; by <a href="https://www.benzinga.com/author/rounak-jain">Rounak Jain</a>, notes Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) faced a rare downgrade due to concerns about normalizing demand, despite its strong position in AI and data centers. 
For more bearish takes, be sure to see these posts:
<a href="https://www.benzinga.com/markets/bonds/24/07/39600702/fed-chair-powell-warns-of-unsustainable-us-debt-path-downplays-risks-of-possible-trump-attacks-on-c">Fed Chair Powell Warns Of &#8216;Unsustainable&#8217; US Debt Path, Downplays Risks Of Possible Trump Attacks On Central Bank Independence</a>
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39637474/ai-has-the-hallmarks-of-an-inflating-bubble-warns-veteran-wall-street-investor">AI Has &#8216;The Hallmarks Of An Inflating Bubble,&#8217; Warns Veteran Wall Street Investor</a>
<a href="https://www.benzinga.com/government/24/07/39625439/boeing-faces-high-stakes-decision-accept-plea-deal-or-risk-trial-over-737-max-safety-violations">Boeing Faces High-Stakes Decision: Accept Plea Deal Or Risk Trial Over 737 MAX Safety Violations</a>
Keep up with all the latest breaking news and trading ideas by following<a href="https://twitter.com/Benzinga"> Benzinga</a><a href="http://twitter.com/Benzinga"> on Twitter</a>.
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors. Image created using artificial intelligence vid Midjourney.

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

Cryptocurrency

Long Ideas

Short Ideas

$BTC

$DOGE

$ETH

CHWY

DDOG

NVDA

PLTR

TSLA

Benzinga Bulls And Bears: Tesla, Nvidia, Palantir And Trader Predicts 'Huge Rebound' For Dogecoin

A landslide victory by the Labour Party in the U.K. has put the left-center group back in control of the government for the <a href="https://www.benzinga.com/news/24/07/39640147/keir-starmer-to-become-uk-prime-minister-as-labour-wins-big-over-rishi-sunaks-conservatives-mohamed">first time in 14 years</a>.
Keir Starmer, the party's leader — and as of Friday, the U.K.'s new prime minister — is a voice of moderation within the traditionally leftist party.
Starmer, 61, is viewed by some as a much-needed step toward the center of the political spectrum, necessary to win back the hearts of the U.K. electorate. For others, and especially to the party's most left-leaning figures, Starmer's concessions are pulling the party too far from the banners of social justice it has traditionally represented.
<a href="https://www.benzinga.com/etfs/specialty-etfs/24/07/39649841/united-kingdom-stocks-etfs-to-watch-after-keir-starmer-labour-party-win">British stocks and ETFs experienced a slight uptick</a> after the results of the election were announced.
<h3 class="wp-block-heading">Who Is Keir Starmer And How Did He Rise To Power?</h3>
Starmer's early years crystallized the leader as a poster child for Labour values.
The son of a nurse who worked for the NHS, the U.K.'s public health service, and a toolmaker, Starmer was the first in his family to reach a college title, graduating from the University of Oxford with a law degree.
Throughout his political career, Starmer has repeatedly made mention of his working class background as a way to legitimize his quest for social justice.
During his formative years, which coincided with the final years of the Cold War, he displayed clear tendencies toward the far left, serving as editor for Socialist Alternatives, a Trotskyist radical magazine in the U.K.
Starmer became a lawyer in 1987 and began a career "defending ordinary people against the powerful," as the official Labour Party site states in his biography.
This meant representing labor unions against corporations and working on high-profile human rights cases, which included defending convicts sentenced for death penalty.
In 2008, he was appointed director of public prosecutions by the Crown, launching his public servant career. This position is the third most senior public prosecutor position in England and Wales, behind only the attorney general and solicitor general.
During seven years in this position he enjoyed public exposure, becoming the main prosecutor in high-profile cases which included the trials of several MPs found guilty in a parliamentary expenses scandal.&nbsp;
He was knighted for his contributions to law and order in 2014.
Also Read:&nbsp;
<ul>
<li><a href="https://www.benzinga.com//node/39585183">Tesla, Other US Automakers Lose Ground In UK To Chinese And Domestic Players</a></li>
</ul>
His political career is short-lived, compared to other MPs. He was appointed as a candidate for Parliament in late 2014, less than 10 years ago. In 2015 he became a member of the House of Commons for Labour. 
He was named Shadow Brexit Minister, a position within the opposition that centralized his party's opinions on Brexit, one of the most cataclysmic events in recent U.K. history.
Jump to 2020, and Starmer had risen to opposition leader within the Labour Party, after previous leader Jeremy Corbyn lost by a landslide against Conservative Boris Johnson in the 2019 elections.
<h3 class="wp-block-heading">What Does Keir Starmer Stand For?</h3>
At 61 years old, Starmer seems to have pulled away from his Marxist background for more moderate centrist position that seeks to bring back credibility to the Labour Party.
His calm, managerial and unassuming public personality has been deemed "boring," yet it might be exactly the face that the U.K. government needs today to counteract a credibility crisis that has taken it to the lowest approval levels in decades. Only 27% of the population said they trusted the government in March, as per the Office for National Statistics.
"A vote for Labour is a vote for stability — economic and political," Starmer said during his most recent campaign.
Over the five years that went by since Labour's dramatic loss to the Conservatives in 2019, Starmer has worked to weed out the far-left elements of his party. A symbolic step in this direction occurred in 2020 when former leader Corbyn was ousted following his reaction to claims of antisemitism within the party.
Corbyn won a seat in the Parliament as an independent in this year's election. But his expulsion from the party also meant a break with some of his most leftist policies.
Starmer's concessions toward a more moderate stance — which arguably got him elected — include dialing back on Labour's most extreme proposals, like increasing the income tax or dropping university tuition fees, as The Guardian has <a href="https://www.theguardian.com/commentisfree/2023/may/03/labour-tuition-fees-keir-starmer-political-party-british-democratic-history">reported</a>. Several plans to nationalize public services have also been taken out of the Labour conversation.
Starmer's main quest is one of consensus and order. He said during his campaign he won't commit to promises that he can't fulfill, putting the focus on fixing the country's housing crisis and its decaying public health system. This is a challenging task, as the new MP has vowed not to increase taxes for the general population or deepen public debt.
UK-US Relations Under Starmer: Politically, Starmer's government is more aligned with U.S. Democrats. This means that the future of international relations across the Atlantic depends widely <a href="https://www.benzinga.com/news/24/07/39618327/economics-will-define-2024-election-comparing-trump-and-biden-presidencies">on the results of November's election in the U.S.</a>
If Joe Biden — <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39611479/odds-of-kamala-harris-replacing-joe-biden-as-democratic-presidential-candidate-raised-by-c">or another Democratic candidate</a> — were to win, that would likely bring about a brighter future for U.K.-U.S. relations than if Donald Trump is elected president.
Read Next:
<ul>
<li><a href="https://www.benzinga.com//node/39585183">One To The Right, One To The Left: France&#8217;s National Rally Set For Record Win As The UK&#8217;s Labour Party Regains Support</a></li>
</ul>
Picture: Official portrait of Keir Starmer, taken in June 2017, via Wikimedia Commons.

Politics

Who Is The UK's New Prime Minister Keir Starmer And What Does He Stand For?

In defiance of the market&#8217;s downturn, a memecoin built on the Solana blockchain, Billy (CRYPTO: BILLY), has experienced a significant surge, with its value increasing by nearly 147% in the last week.
What Happened: The value of Billy, a memecoin with a dog theme, has surged by nearly 147% in the last week, reaching $0.182. This surge in value comes after several cryptocurrency exchanges, including Bittrue, Bitget, MEXC, and Gate.io, added support for the coin, <a href="https://dailyhodl.com/2024/07/05/solana-based-memecoin-defies-market-downturn-jumps-over-30-in-24-hours-amid-listing-on-multiple-exchanges/">reported</a> The Daily Hodl.
Billy, which was launched in June, features a puppy image and has outperformed other popular meme coins during the current market consolidation phase, which has led to significant declines across the board, the report noted. 
Despite the market&#8217;s downturn, Billy&#8217;s market cap is currently at $181.8 million, with a 24-hour trading volume of $55.3 million, according to data from CoinMarketCap.
Why It Matters: Despite their often whimsical nature, meme coins have been gaining traction and demonstrating significant market resilience.
Other dog-theme assets such as Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>) and Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) are trading at $0.00001538 and $0.1081 respectively as of the time of writing this article.
Other top-tier cryptocurrencies like Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) have come under selling pressure over the past week &#8211; while Bitcoin has fallen over 7%, Ethereum declined by over 11%.
Read More:
<ul>
<li><a href="https://www.benzinga.com/news/24/07/39653852/elon-musk-pegs-fifth-starship-launch-for-first-week-of-august-spacex-expected-to-attempt-a-booster-l" target="_blank" rel="noreferrer noopener">Elon Musk Pegs Fifth Starship Launch For First Week Of August: SpaceX Expected To Attempt A Booster Landing This Time</a></li>
</ul>
Photo courtesy: @billydogsolana
 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/anan-ashraf" target="_blank" rel="noopener">Anan Ashraf.</a>

$SHIB

While Bitcoin, Ethereum, Shiba Inu Witness A Meltdown, This Solana-Based Memecoin Has Surged 147% In Last Week

EV maker Rivian Automotive (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>) has scrapped its return policy that allowed customers to return their <a href="https://www.benzinga.com/markets/equities/24/07/39595729/why-rivian-automotive-shares-are-gaining-tuesday">new vehicle </a>in 7 days if it does not meet their needs.
What Happened: Rivian previously allowed new customers to return their new vehicles within 7 days or 1000 miles if it doesn&#8217;t meet their needs. The webpage referring to the policy has now been taken down.
A Rivian spokesperson told <a href="https://pro.benzinga.com/dashboard">Benzinga</a> in a statement that the company launched the 7-day return policy to reassure customers who were unfamiliar with the brand and its products. However, since then, the company has scaled its network of Service Centers and demo drive fleet across the United States and Canada so that customers can test drive before purchase, they said.
The company now says on its website that Rivian vehicles do not have a return policy. The company instead urges customers to schedule demo drives and test the vehicle before making the purchase. 
&#8220;We encourage our customers to get behind the wheel by&nbsp;scheduling a demo drive. You'll also have the opportunity to do a vehicle walk-around with a delivery specialist prior to accepting delivery, and are covered by Rivian's industry-leading warranties,&#8221; the company support page now reads.
Why It Matters: Rivian currently has two vehicles in production, the R1T truck and the R1S SUV, both priced at around $70,000. The company has been accumulating losses for every vehicle it delivered until the first quarter of 2024 when it made a loss of nearly $39,000 for each of the 13,588 vehicles it sold.
Rivian is looking to turn its <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39594501/from-volkswagen-partnership-to-trimming-costs-and-introducing-cheaper-evs-rivian-st">first-ever quarterly gross profit</a> in the fourth quarter of 2024 and has been making moves aimed at cutting costs. The possible cancellation of the return policy might also be aimed at that end.
Last month, Rivian announced its intent to form a joint venture with Volkswagen aimed at creating software-defined vehicle platforms to be used in both players&#8217; future electric vehicles starting in the second half of the decade.
As part of the <a href="https://www.benzinga.com/markets/equities/24/06/39559280/rivian-volkswagen-partnership-a-game-changer-says-one-analyst-a-mystery-says-another">terms of the deal</a>, Volkswagen will initially invest $1 billion in Rivian and then up to $4 billion until 2026. Both companies shall hold a 50% stake in the JV which is expected to be formed by the fourth quarter of 2024.&nbsp;
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read More:
<ul>
<li><a href="https://www.benzinga.com/news/24/07/39653934/tesla-ceo-elon-musk-considers-building-replica-of-tars-from-interstellar-in-addition-to-optimus-woul">Tesla CEO Elon Musk Considers Building Replica Of TARS From Interstellar In Addition To Optimus: &#8216;Would Be So Cute&#8217;</a></li>
</ul>
Photo courtesy: Rivian

RIVN

Rivian Cancels 7-Day Vehicle Return Policy, Urges Customers To Do Test Drives And Walk-Arounds Instead

American basketball player Trae Young has seemingly taken delivery of a Tesla Inc <a href="https://www.benzinga.com/news/24/07/39646347/tesla-hints-cybertruck-was-most-sold-ev-truck-in-us-in-q2-but-elon-musks-company-has-not-released-da">Cybertruck</a> and wrapped it in a blue resemblant of snow and winters. 
What Happened: Young shared pictures of his blue-wrapped Cybertruck on X and Instagram on Friday. The pictures were captioned &#8216;Sometimes you gotta pop out….,&#8217; from rapper Kendrick Lamar&#8216;s popular song &#8216;Not Like Us.&#8217; 
Young also nicknamed his truck the &#8216;SnowMobile&#8217; after Batman&#8217;s bat-themed Batmobile. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">"Sometimes you gotta pop out…."&#x1f499;&#x2744;&#xFE0F;<a href="https://twitter.com/hashtag/SnowMobile?src=hash&amp;ref_src=twsrc%5Etfw">#SnowMobile</a> <a href="https://t.co/bhA4OGJhqc">pic.twitter.com/bhA4OGJhqc</a>
&mdash; Trae Young (@TheTraeYoung) <a href="https://twitter.com/TheTraeYoung/status/1809333469161697705?ref_src=twsrc%5Etfw">July 5, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
The Cybertruck&#8217;s stainless steel body allows no exterior paint. However, customers can wrap the truck, either with wraps available at Tesla&#8217;s online shop, or more individualistic wraps from third-party customizers.
Rapper Lil Baby showcased his <a href="https://www.benzinga.com/news/24/07/39613831/elon-musk-thinks-cybertruck-wrap-resembling-marvel-superhero-deadpool-looks-cool">red-wrapped Cybertruck</a> on Instagram over the week, resembling Marvel superhero Deadpool with intermittent black in its body and wheels.
The rapper, however, was seemingly going for a big, angular red apple. Footballer Isaiah Simmons also recently took delivery of a Cybertruck and wrapped it in matte white with white wheel caps which Tesla CEO Elon Musk commended as &#8216;Nice.&#8217;
Why It Matters: Tesla started delivering the Cybertruck in November. Since then, several celebrities and popular names have taken delivery of it including&nbsp;Justin Bieber,&nbsp;Jay-Z&nbsp;and&nbsp;Beyonce,&nbsp;Serena Williams, and&nbsp;Lady Gaga.
The celebrity status of the Cybertruck is likely due to the vehicle&#8217;s unconventional design, high price point, and the few units available on the road. The vehicle pricing starts at $79,990 for the all-wheel drive version and $99,990 for the more premium Cyberbeast version.
A lower-priced rear-wheel drive version of the truck will be <a href="https://www.benzinga.com/news/24/04/38130429/new-cybertruck-orders-will-only-be-delivered-in-2025-says-tesla-website" target="_blank" rel="noreferrer noopener">available in 2025</a>, as per the company website, starting at $60,990.
Tesla is currently scaling the production of the Cybertruck and aims to make 250,000 annually by 2025. For now, the company has touched a weekly production rate of 1,300 Cybertrucks, Musk said at Tesla's annual shareholder meeting earlier this month. The EV maker is looking to increase it further this year to touch 2,500 units by year-end,<a href="https://www.benzinga.com/news/24/06/39330272/tesla-ramping-up-cybertruck-production-to-touch-2-500-units-per-week-non-foundation-series-to-start" target="_blank" rel="noreferrer noopener">&nbsp;he added</a>.
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read More:
<ul>
<li><a href="https://www.benzinga.com/news/24/07/39653852/elon-musk-pegs-fifth-starship-launch-for-first-week-of-august-spacex-expected-to-attempt-a-booster-l" target="_blank" rel="noreferrer noopener">Elon Musk Pegs Fifth Starship Launch For First Week Of August: SpaceX Expected To Attempt A Booster Landing This Time</a></li>
</ul>
Photo courtesy: Shutterstock

Basketball Player Trae Young Now Drives A Blue Wrapped Cybertruck Nicknamed 'SnowMobile'

Former President Donald Trump has publicly disavowed any connection to the contentious "Project 2025," despite the project&#8217;s ties to his <a href="https://www.benzinga.com/news/24/07/39641760/biden-vs-trump-incumbent-trails-by-widest-margin-in-this-election-cycle-but-more-than-half-unenthusi">potential second-term administration</a>.
What Happened: According to a Reuters report on Saturday, Trump has renounced any association with Project 2025, an initiative led by the Heritage Foundation, a prominent conservative think tank.
The project has faced criticism from Democrats, who claim it outlines an extreme policy agenda for a potential second Trump term.
Several individuals involved in Project 2025 have previously worked in the Trump administration and are expected to return should he win the November election.
However, Trump refuted any connection to the project on his Truth Social platform, stating, &#8220;I know nothing about Project 2025. I have no idea who is behind it.&#8221;
"I disagree with some of the things they're saying and some of the things they're saying are absolutely ridiculous and abysmal," he said while wishing them "luck."
Trump&#8217;s distancing from the project comes three days after Heritage Foundation president Kevin Roberts&#8217; comments about a second American Revolution on Steve Bannon&#8217;s &#8220;War Room&#8221; podcast. These remarks were widely criticized as a veiled threat of violence.
Read Also: <a href="https://www.benzinga.com/news/24/07/39653837/biden-asserts-he-is-not-pulling-out-of-presidential-race-says-only-lord-almighty-could-force-him">Biden Asserts He Is Not Pulling Out Of Presidential Race, Says Only &#8216;Lord Almighty&#8217; Could Force Him</a>
Political science professor James Wallner suggests that Trump&#8217;s move could be an attempt to moderate his message in the final months of the race, especially as opponent Joe Biden&#8217;s campaign <a href="https://www.benzinga.com/general/politics/24/07/39652860/biden-should-step-aside-say-business-leaders-including-walmart-heir">appears to be faltering</a>.
The Biden campaign has been linking Trump&#8217;s campaign to Project 2025, with campaign spokesperson Ammar Moussa stating, "Project 2025 is the extreme policy and personnel playbook for Trump's second term that should scare the hell out of the American people."
Why It Matters: Trump&#8217;s disassociation from Project 2025 comes at a time when his opponent is facing criticism over his recent <a href="https://www.benzinga.com/news/24/07/39653890/biden-dismisses-health-concerns-defends-poor-debate-performance-amid-calls-to-withdraw-from-2024-rac">poor debate performance</a>. Biden, however, has dismissed health concerns and defended his performance, attributing it to exhaustion and cold, rather than a serious health condition.
Furthermore, Trump has recently made <a href="https://www.benzinga.com/news/24/07/39638541/trumps-unfounded-claims-kamala-harris-stir-controversy-shes-so-bad-shes-so-pathetic">unfounded allegations</a> about Biden and Vice President Kamala Harris, causing controversy.
Despite this, a new poll shows Biden still <a href="https://www.benzinga.com/news/24/07/39628794/biden-vs-trump-new-poll-shows-president-still-very-much-in-race-despite-debate-fiasco-but-final-outc">very much in the race</a>, with both candidates receiving 40% support each.
Read Next:
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<li><a href="https://www.benzinga.com/etfs/specialty-etfs/24/07/39618512/nancy-pelosi-loads-up-on-more-nvidia-shares-sells-tesla-she-always-reports-right-before-a-hol?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Nancy Pelosi Loads Up On More Nvidia Shares, Sells Tesla: &#8216;She Always Reports Right Before A Holiday&#8217;</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Media

Trump Distances Himself From 'Project 2025' Amid Rising Controversy: 'I Know Nothing'

Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) bull Gary Black on Friday raised his price target on the EV giant&#8217;s shares from $200 to $270 in addition to revising his estimates for the company&#8217;s <a href="https://www.benzinga.com/markets/equities/24/07/39595720/tesla-deliveries-fall-for-second-straight-quarter-but-stock-takes-off-as-q2-numbers-exceed-expec">full-year vehicle delivery volume</a> and earnings per share.
What Happened: The Future Fund Managing Partner increased his adjusted EPS (earnings per share) estimate for 2024 to $2.4 from $2.2 while adding that Tesla will likely deliver 1,707,000 vehicles for the whole year, down from the 1,808,581 units delivered in 2023.
Despite the increase, Black&#8217;s estimates are still behind Wall Street estimates of an adjusted EPS of $2.46 and deliveries of 1,804,000 units for the year. 
For 2030, however, Black is more optimistic. The analyst now estimates an adjusted EPS of $15 for Tesla in 2030, up from his previous $14.5 estimate, and much higher than Wall Street estimate of $12. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">We have increased our <a href="https://twitter.com/search?q=%24TSLA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TSLA</a> PT to $270 from $200. Attached is our updated forecast of <a href="https://twitter.com/search?q=%24TSLA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TSLA</a> delivs, margins, and earnings vs WS ests. We've increased our <a href="https://twitter.com/search?q=%24TSLA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TSLA</a> 2024 Adj EPS to $2.40 (from $2.20). Our 2024 volume forecast is now 1,707 (-6% vs 2023). We are slightly below WS… <a href="https://t.co/xZ8rzeaUGf">pic.twitter.com/xZ8rzeaUGf</a>
&mdash; Gary Black (@garyblack00) <a href="https://twitter.com/garyblack00/status/1809363723678556553?ref_src=twsrc%5Etfw">July 5, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
The long-term estimate revision is based on several upsides Black sees for Tesla including an increase in global EV adoption rate by 2030, an increase in take rate for Tesla&#8217;s full self-driving driver assistance technology, and also a hike in gross profits from the company&#8217;s energy storage segment.
Black, however, assumed no incremental value for either Tesla&#8217;s upcoming robotaxi or its humanoid robot Optimus in a move that he acknowledged as &#8220;ultra-conservative.&#8221;
Why It Matters: Black&#8217;s revision comes at a time when Tesla&#8217;s stock is on the rise. The company's second-quarter delivery numbers beat estimates,&nbsp;<a href="https://www.benzinga.com/trading-ideas/24/07/39605521/stock-of-the-day-teslas-q2-deliveries-spark-rally-will-resistance-halt-the-climb" target="_blank" rel="noreferrer noopener">igniting a stock rally</a> and reversing losses so far this year. 
Talking about the recent rally, former Ford Motor Co. CEO Mark Fields said in an appearance on CNBC, &#8220;I think what&#8217;s ironic is that Musk has been- Musk wants Tesla to be a robotics and AI company, but their stock turnaround was driven by the autos.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">"Deliveries beat expectations and their energy storage business was better than expected," says former Ford CEO <a href="https://twitter.com/mfields?ref_src=twsrc%5Etfw">@mfields</a> on the recent Tesla stock rally. "Elon Musk wants Tesla to be a robotics and AI company, but their stock turnaround was driven by the autos." <a href="https://twitter.com/search?q=%24TSLA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TSLA</a> <a href="https://t.co/WQvFauJe3K">pic.twitter.com/WQvFauJe3K</a>
&mdash; Last Call (@LastCallCNBC) <a href="https://twitter.com/LastCallCNBC/status/1809370181585588639?ref_src=twsrc%5Etfw">July 5, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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Fields is referring to Tesla CEO Elon Musk&#8216;s attempts to turn Tesla into an AI, robotics, and sustainable energy company in addition to an automaker with an increased push toward diverse fields such as robotics, energy storage, and autonomous driving.
Price Action: Tesla shares closed up 2.1% at $251.52 on Friday. The stock is up 1.25% year-to-date, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>. 
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read More:
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<li><a href="https://www.benzinga.com/news/24/07/39653852/elon-musk-pegs-fifth-starship-launch-for-first-week-of-august-spacex-expected-to-attempt-a-booster-l">Elon Musk Pegs Fifth Starship Launch For First Week Of August: SpaceX Expected To Attempt A Booster Landing This Time</a></li>
</ul>
Photos courtesy: Shutterstock

Analyst Color

Upgrades

Price Target

Analyst Ratings

Gary Black Raises Tesla Price Target As Ex-Ford CEO Notes Irony of Auto-Driven Stock Rally Amid Elon Musk's AI And Robotics Focus

Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) has approved the marketplace app of Epic Games, the creator of &#8220;Fortnite,&#8221; for iPhones and iPads in Europe. This move comes amid a <a href="https://www.benzinga.com/news/24/07/39646883/fortnite-maker-epic-games-accuses-apple-of-blocking-its-game-store-launch">continuing conflict</a> between the two tech behemoths.
What Happened: Apple&#8217;s approval follows accusations from Epic Games that Apple was hindering its attempts to launch a games store on Apple devices. 
The tech giant stated that the dispute is centered around&nbsp;the Epic Sweden AB Marketplace&nbsp;and is not related to Epic&#8217;s Fortnite app, which Apple has already approved, reported Reuters.
Epic Games had earlier alleged that Apple had <a href="https://www.benzinga.com/news/24/07/39646883/fortnite-maker-epic-games-accuses-apple-of-blocking-its-game-store-launch">twice rejected its application&nbsp;to launch</a> the Epic Games&nbsp;Store due to similarities in&nbsp;the design of certain buttons&nbsp;and labels with those used by Apple&#8217;s App Store.&nbsp;
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
&#8220;Apple&#8217;s rejection is arbitrary, obstructive,&nbsp;and in violation of the&nbsp;DMA (Digital Markets Act), and&nbsp;we&#8217;ve shared our concerns with&nbsp;the European Commission,&#8221; Epic said in a series of posts on X.
Why It Matters: The European Commission, which began an investigation into Apple&#8217;s app validation processes and alternative app store sideloading last month, has yet to comment on the issue. 
The feud between Apple and Epic Games began in <a href="https://www.benzinga.com/general/gaming/23/12/36210791/how-did-epic-games-showdown-with-google-differ-from-apple-ceo-tim-sweeney-says-it-was-like-ice-and">2020 when Epic claimed that&nbsp;Apple&#8217;s practice</a> of charging up&nbsp;to 30% commissions on in-app&nbsp;payments on its iOS devices violated U.S. antitrust laws.
Earlier this year, Apple proposed changes to its App Store policies to comply with specific directives of the DMA, which came into effect in March. These changes permitted alternative app stores on iPhones and allowed users to opt out of using the in-app payment system.
However, Apple introduced a &#8220;core technology fee,&#8221; which many developers <a href="https://www.benzinga.com/news/24/01/36805331/apples-alternative-app-store-model-in-the-eu-could-potentially-cost-meta-others-millions-of-dollars">have criticized as exploitative</a>.
Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/news/24/06/39564817/apple-rejects-metas-ai-integration-proposal-ex-employee-accuses-iphone-maker-of-chemical-exposure-an?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Apple Rejects Meta&#8217;s AI Integration Proposal, Ex-Employee Accuses iPhone-Maker Of Chemical Exposure And More: This Week In Appleverse</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

AAPL

Apple Approves Epic Games' Marketplace App In Europe Amid Ongoing Feud

Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) has received a rare downgrade from New Street Research, with the analyst citing concerns about the <a href="https://www.benzinga.com/news/24/06/39412234/nvidias-rise-resembles-dot-com-boom-era-but-former-cisco-ceo-says-things-are-different-this-time">stock&#8217;s overvaluation</a>.
What Happened: New Street Research analyst Pierre Ferragu downgraded Nvidia&#8217;s stock from buy to neutral, citing that the stock is "getting fully valued" after a remarkable 161% surge this year to date. The stock had previously seen a gain of almost 240% in 2023.
Ferragu expressed doubt about any additional upside, stating that it would only materialize in a bull case, which is not yet certain. He also warned of a potential risk of derating if the current outlook remains unchanged.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Despite the AI frenzy, Ferragu notes that there is a normalization when it comes to demand for Nvidia's AI-oriented graphics processing units, or GPUs.
"When you listen to clients of Nvidia, we see demand is completely in line with expectations," said Ferragu in an interview with CNBC.
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39646688/tech-bull-shares-top-stock-picks-for-second-half-of-2024-after-ai-fueled-rally-do-y">Tech Bull Shares Top Stock Picks For Second Half Of 2024 After AI-Fueled Rally: Do You Own These Stocks?</a>
Despite the downgrade, Nvidia remains the <a href="https://www.benzinga.com/24/07/39640232/jim-cramer-shuns-this-stock-but-it-has-left-nvidia-super-micro-biting-the-dust-on-one-year-returns">second-best performer</a> among S&amp;P 500 components this year, trailing Super Micro Computer Inc., another AI investor favorite. The company&#8217;s market capitalization has increased by almost $1.9 trillion, briefly making it the world&#8217;s largest company.
Why It Matters: The recent surge in the U.S. stock market, largely driven by the promise of artificial intelligence, has drawn comparisons to the dot-com bubble of the late 1990s.
This has raised concerns about <a href="https://www.benzinga.com/markets/equities/24/07/39589689/ai-boom-spurs-nvidia-led-us-stock-market-rally-experts-draw-parallels-with-dotcom-bubble-no-one-">another overvaluation scenario</a>, as the market is currently dominated by a small group of tech giants, with Nvidia among the top performers.
Despite the downgrade, New Street Research is positive on both Advanced Micro Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) and Taiwan Semiconductor Manufacturing Co Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSMC#NYSE">TSMC</a>), citing their growth trends and valuations.
AMD and TSMC are &#8220;the best names to own in the group, offering strong upside in both in our base and high scenarios,&#8221; New Street said in a note, adding that among other stocks with AI exposure, Broadcom Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>), Arista Networks Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ANET#NYSE">ANET</a>), and Micron Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>) all &#8220;remain attractively valued.&#8221;
Nvidia CEO Jensen Huang has been offloading the company's stock, <a href="https://www.benzinga.com/markets/equities/24/07/39611550/nvidia-ceo-jensen-huang-sells-over-29m-worth-of-shares-as-companys-stock-shoots-up-155-in-2024-a">selling over $29 million worth of shares</a> amid the 161% surge in 2024.
This rise has led to Nvidia&#8217;s market value exceeding $3 trillion, underscoring the company&#8217;s dominant position in the tech industry.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">"For the first time, we think Nvidia might not exceed expectations," says Newstreet Research's <a href="https://twitter.com/p_ferragu?ref_src=twsrc%5Etfw">@p_ferragu</a> on his decision to downgrade Nvidia to neutral. "When you listen to clients of Nvidia, we see demand is completely in line with expectations." <a href="https://twitter.com/search?q=%24NVDA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$NVDA</a> <a href="https://t.co/r7NqJ4rW5a">pic.twitter.com/r7NqJ4rW5a</a>
&mdash; Last Call (@LastCallCNBC) <a href="https://twitter.com/LastCallCNBC/status/1809369947484594317?ref_src=twsrc%5Etfw">July 5, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:
<a href="https://www.benzinga.com/news/24/07/39644569/key-nvidia-supplier-sk-hynix-to-get-further-boost-from-ai-demand-even-after-90-stock-surge-goldman-s">Key Nvidia Supplier SK Hynix To Get Further Boost From AI Demand Even After 90% Stock Surge, Goldman Sachs And Citi Predict</a>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Downgrades

ANET

AVGO

TSMC

Nvidia Gets Rare Downgrade Over Concerns That Demand Is Normalizing 'In Line With Expectations:' Stock 'Getting Fully Valued'

Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO Elon Musk on Friday teased making a robot resembling TARS from the Christopher Nolan movie Interstellar, in addition to its <a href="https://www.benzinga.com/news/24/06/39327644/tesla-ceo-elon-musk-eyes-25-trillion-market-cap-with-optimus-bot-admits-to-being-pathologically-opti">humanoid robot Optimus.</a>
What Happened: &#8220;Maybe Tesla should built it. Would be so cute,&#8221; Musk wrote on X. The CEO was responding to a video of a functional, walking TARS replica. 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Maybe Tesla should built it. Would be so cute.
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1809380365464723964?ref_src=twsrc%5Etfw">July 6, 2024</a></blockquote>
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Musk is currently attempting to make Tesla a robotics, AI, and sustainable energy company in addition to an automaker with an increased push toward diverse fields such as robotics, energy storage, and autonomous driving. The company is already developing a humanoid robot by the name of Optimus.
Optimus, however, is very different from TARS. While the fictional robot has a cuboidal structure with moving cuboidal parts, Optimus resembles a human with moving hands capable of performing tasks around a factory. 
Two Optimus bots are currently employed in Tesla's Fremont factory, taking cells off the end of the production line and placing them in containers, Musk confirmed in early June. 
Why It Matters: During Tesla's annual shareholder meeting in June, Musk said that there will be at least <a href="https://www.benzinga.com/news/24/06/39246781/elon-musk-thinks-humanoid-robots-will-one-day-exceed-human-population-from-nvidias-project-gr00t-to" target="_blank" rel="noreferrer noopener">one humanoid robot</a> for every person in the world in the future, implying a total humanoid robot population of at least 10 billion or more, of which the EV company will have a significant share.
&#8220;While autonomous vehicle is a $5-$7 trillion market cap situation, <a href="https://www.benzinga.com/news/24/06/39327644/tesla-ceo-elon-musk-eyes-25-trillion-market-cap-with-optimus-bot-admits-to-being-pathologically-opti">Optimus is a $25 trillion market cap situation</a>,&#8221; Musk, who is known to over-hype his company&#8217;s products, then said. The CEO himself admitted that he is &#8220;pathologically optimistic&#8221; but delivers in the end.
Following a major hardware revision by the end of this year or early next year, Tesla expects to commence limited production of the <a href="https://www.benzinga.com/news/24/06/39307242/tesla-says-optimus-bots-are-now-performing-autonomous-tasks-at-its-factory-3-years-after-introductio">Optimus to work in its factories</a> and test its capabilities, the CEO added.
Tesla also plans to unveil its dedicated robotaxi product on Aug. 8. The CEO, in April, said that dedicating to autonomous driving is a &#8220;blindly obvious move&#8221; for Tesla.
&#8220;Even if I got kidnapped by aliens tomorrow, Tesla&nbsp;will&nbsp;solve autonomy, maybe a little slower, but it would solve autonomy for vehicles at least,&#8221;&nbsp;<a href="https://www.benzinga.com/news/24/04/38397845/tesla-will-solve-autonomy-even-if-i-got-kidnapped-by-aliens-tomorrow-says-elon-musk-as-he-reveals-ta" target="_blank" rel="noreferrer noopener">Musk said</a>&nbsp;at the company's first-quarter earnings call. &#8220;If somebody doesn&#8217;t believe Tesla is going to solve autonomy, I think they should not be an investor in the company.&#8221;
Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
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</ul>
Image made via photos on Shutterstock

Tesla CEO Elon Musk Considers Building Replica Of TARS From Interstellar In Addition To Optimus: 'Would Be So Cute'

Amid growing <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39625294/2024-election-betting-odds-react-to-biden-debate-disaster-trump-odds-hit-all-time-high-kam">calls for his withdrawal</a> from the 2024 presidential race, President Joe Biden has defended his recent poor debate performance, attributing it to exhaustion and cold, rather than a serious health condition.
What Happened: In his first interview since the debate, Biden <a href="https://abcnews.go.com/Politics/exhausted-bad-episode-biden-doubles-debate-explanations-abc/story?id=111695168">told</a> ABC News&#8217; George Stephanopoulos on Friday, that he felt terrible before the event.
&#8220;It was a bad episode. No indication of any serious condition. I was exhausted.&#8221;
Stephanopoulos questioned the timing, noting&nbsp;that Biden had spent six&nbsp;days at Camp David preparing&nbsp;for the debate. Biden revealed that&nbsp;he thought he had COVID-19.&nbsp;
&#8220;Because&nbsp;I was sick, I was&nbsp;feeling terrible. A matter of&nbsp;fact, the doc was with&nbsp;me — I asked if&nbsp;they did a COVID test&nbsp;because I was trying to&nbsp;figure out what's wrong,&#8221; Biden said. However, the test came back negative.
See Also: <a href="https://www.benzinga.com/news/24/07/39638437/edward-snowden-reminds-americans-about-origins-of-the-fourth-of-july-holiday-shooting-at-the-governm?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Edward Snowden Reminds Americans About Origins Of The Fourth Of July Holiday: &#8216;Shooting At The Government&#8217;</a>
The president also refuted claims that he had&nbsp;listened back to the debate and accused former President Donald Trump of lying 28 times during the event. 
Why It Matters: During the debate, Biden&#8217;s&nbsp;soft and raspy voice and&nbsp;his struggle to complete sentences raised concerns about his health. The White House initially attributed his performance to a cold, <a href="https://www.benzinga.com/news/24/07/39610890/biden-blames-jet-lag-for-subpar-debate-performance-i-decided-to-travel-around-the-world-a-couple-tim">later blaming it on recent foreign travel</a>.
Biden&#8217;s poor performance in the debate has led to increased speculation about his 2024 re-election bid. <a href="https://www.benzinga.com/news/24/06/39563725/biden-widely-criticized-over-debate-performance-but-poll-also-points-to-concerning-signs-for-trump">A recent poll</a> revealed a decline in voters' confidence in Biden‘s mental and physical fitness. Despite this, Biden remains committed to the presidential race, even as calls <a href="https://www.benzinga.com/general/politics/24/07/39653056/trump-vs-biden-former-president-retakes-lead-in-2024-election-poll-after-debate-more-voters-see-">for him to step down have grown.</a>
His performance has been attributed to a series of missteps by his top advisors, <a href="https://www.benzinga.com/news/24/06/39566647/joe-bidens-disastrous-debate-performance-blamed-on-bad-preparation-what-a-bad-decision-to-send-him-o">including a lack of rest and poor preparation</a>. Biden himself has previously attributed his lackluster performance to jet lag from his recent overseas trips.
&#8220;I didn&#8217;t have my best night, but the fact is that you know, I wasn&#8217;t very smart. I decided to travel around the world a couple times, going through around 100 time zones … before … the debate,&#8221; he said last week.
Read Next:&nbsp;
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39611479/odds-of-kamala-harris-replacing-joe-biden-as-democratic-presidential-candidate-raised-by-c?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Odds Of Kamala Harris Replacing Joe Biden As Democratic Presidential Candidate Raised By Crypto Bettors, Memecoin Themed On Her Surges 126%</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.
Photo courtesy: Shutterstock

Biden Dismisses Health Concerns, Defends Poor Debate Performance Amid Calls To Withdraw From 2024 Race: 'It Was A Bad Episode. No Indication Of Any Serious Condition. I Was Exhausted'

President Joe Biden took to X, formerly Twitter, on Friday to congratulate Keir Starmer on becoming the new <a href="https://www.benzinga.com/news/24/07/39640147/keir-starmer-to-become-uk-prime-minister-as-labour-wins-big-over-rishi-sunaks-conservatives-mohamed">U.K. Prime Minister</a>.
What Happened: &#8220;Congratulations to Prime Minister Keir Starmer on becoming Prime Minister of the United Kingdom,&#8221; Biden wrote in a post on X. &#8220;I look forward to our shared work in support of freedom and democracy around the world, and to further strengthening the special relationship between our two countries.&#8221;
This is the first reaction from Biden on X to the U.K.&#8217;s newly elected prime minister.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Congratulations to Prime Minister Keir Starmer on becoming Prime Minister of the United Kingdom. I look forward to our shared work in support of freedom and democracy around the world, and to further strengthening the special relationship between our two countries.
&mdash; President Biden (@POTUS) <a href="https://twitter.com/POTUS/status/1809278569480126549?ref_src=twsrc%5Etfw">July 5, 2024</a></blockquote>
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According to a statement from the White House, Biden also spoke with Starmer on Friday and the two leaders reiterated their continued support for Ukraine against Russia. They also affirmed their commitment to working with the leaders of Northern Ireland to create and sustain economic growth and opportunities.
Why It Matters: Keir Starmer-led Labour Party bagged a historic win in the 2024 <a href="https://www.benzinga.com/markets/eurozone/24/05/39048040/uk-election-how-it-works-and-which-markets-could-be-affected">U.K. General Elections</a> over the outgoing Prime Minister&nbsp;Rishi Sunak-led Conservative Party.
The electorate not only handed the party a resounding win after more than ten years of Conservative governance but also the monumental task of revitalizing a stagnant economy and a disillusioned nation.
&#8220;We said we would turn the page, and we have. Today we start the next chapter. begin the work of change, the mission of national renewal, and start to rebuild our country,&#8221; Starmer said in his victory speech to supporters in London. Starmer also promised to put &#8220;country first, party second&#8221; in his victory speech.
Starmer will attend the NATO Summit in Washington D.C. next week. Biden and Starmer will meet in person then. 
Related Link:
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</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.
Photos courtesy: Shutterstock and Flickr

Biden Congratulates Keir Starmer On Becoming UK Prime Minister: 'Look Forward To Our Shared Work...'

SpaceX CEO Elon Musk said on Friday that the fifth flight of its <a href="https://www.benzinga.com/news/24/06/39455125/spacex-gambled-with-starships-reentry-method-says-senior-exec-there-was-still-a-chance-that-this-wou">ambitious Starship launch vehicle </a>will be in the next 4 weeks. For the next test, the company is expected to attempt landing Starship&#8217;s booster back at Starbase instead of splashing it down in the Gulf of Mexico like last time.
What Happened: &#8220;Flight 5 in 4 weeks,&#8221; Musk said on X, formerly Twitter, pegging the next Starship launch around for around Aug. 2.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Flight 5 in 4 weeks <a href="https://t.co/K7pfdujrqx">https://t.co/K7pfdujrqx</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1809381756199661879?ref_src=twsrc%5Etfw">July 6, 2024</a></blockquote>
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SpaceX <a href="https://www.benzinga.com/news/24/06/39226248/elon-musk-outlines-future-starship-goals-after-successful-fourth-flight-test">last launched Starship</a> in the first half of June. During the test, the two stages of the vehicle &#8211; the Starship spacecraft and the Super Heavy booster &#8211; separated and the booster subsequently had a soft splashdown in the Gulf of Mexico.
The spacecraft ignited its engines and went into space, made a controlled re-entry to Earth, and had a soft splashdown in the Indian Ocean. The entire flight lasted one hour and six minutes from launch. The key object of the flight was to re-enter Earth and the mission achieved it while withstanding damage to the vehicle.
The flights before accomplished less. While the spacecraft failed to reach space in the first flight, it reached space and exploded in the second test flight. During the third flight test, the spacecraft broke apart when re-entering Earth's atmosphere from space.
The goal for the next test flight, however, is to catch the <a href="https://www.benzinga.com/news/24/06/39543299/spacex-preparing-to-catch-starship-booster-at-starbase-during-next-test-flight-instead-of-splashing">booster back at Starbase</a> using the launch tower's mechanical arms, marking a significant demonstration of Starship&#8217;s reusability.
Why It Matters: SpaceX is currently looking to ensure full reusability for its Starship rocket. Reuse of rockets, the company believes, is integral to bringing down the costs of spaceflight as the most cost is taken up in building the launch vehicle.
Starship is touted as the world's most powerful launch vehicle, standing 121 meters tall and weighing approximately 5,000 tonnes. SpaceX is expected to have at least six test flights of the Starship this year, as per CEO&nbsp;Elon Musk‘s latest estimate from March.&nbsp;
NASA is currently relying on the success of Starship to&nbsp;<a href="https://www.benzinga.com/news/23/12/36296253/51-years-since-apollo-17-elon-musk-urges-humanity-to-surpass-moon-visit-as-civilizational-high-water" target="_blank" rel="noreferrer noopener">land humans back on the moon</a>&nbsp;as part of its Artemis program. The last crewed lunar mission occurred in 1972 with Apollo 17. Since then, no crew has traveled beyond low-Earth orbit.
Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read More:
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<li><a href="https://www.benzinga.com/news/24/07/39639542/palantir-chair-peter-thiel-praises-elon-musks-risk-taking-ability-regrets-not-investing-in-tesla-the">Palantir Chair Peter Thiel Praises Elon Musk&#8217;s Risk-Taking Ability, Regrets Not Investing In Tesla: &#8216;There&#8217;s Something About Risk He Knows That We Don&#8217;t&#8217;</a></li>
</ul>
Photo via Shutterstock

SPACE

Elon Musk Pegs Fifth Starship Launch For First Week Of August: SpaceX Expected To Attempt A Booster Landing This Time

President Joe Biden reaffirmed his determination to continue his presidential bid, <a href="https://www.benzinga.com/news/24/07/39627704/kamala-harris-reportedly-emerges-as-top-choice-to-replace-the-president-in-2024-election-biden-says">despite mounting concerns</a> within his party about his ability to secure another term.
What Happened: During the <a href="https://abcnews.go.com/Politics/biden-dismisses-concerns-mental-fitness-hed-drop-lord/story?id=111695174">interview</a> with ABC News, Biden, 81, described his debate against former President Donald Trump as a &#8220;bad episode.&#8221; He admitted to being &#8220;exhausted&#8221; and unprepared for the debate.
When asked if he was being realistic in his belief that he could beat Trump, Biden responded, &#8220;I don&#8217;t think anyone is more qualified.&#8221; He dismissed the widening polls between the two candidates as inaccurate.
Despite growing concerns from elected Democrats, Biden remained firm in his belief that he was the candidate to beat Trump in the November election.
He was also questioned about whether he would drop out if fellow Democrats in Congress said he was hurting their re-election chances in November. Biden responded, &#8220;If the Lord Almighty comes out and tells me that I might do that.&#8221;
Read Also: <a href="https://www.benzinga.com/news/24/01/36795199/trumps-mental-health-in-decline-amid-mounting-legal-woes-says-george-conway-he-knows-deep-down-that?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump&#8217;s Mental Health In Decline Amid Mounting Legal Woes: George Conway</a>
When asked about his health, Biden said he was feeling terrible on the night of the debate and had a bad cold. He insisted that he was not frail and that he had a cognitive test every single day.
Earlier on Friday, Biden told a crowd in a fiery speech in Madison that some Democrats were <a href="https://www.benzinga.com/news/24/07/39613299/democrats-want-biden-to-quit-push-this-candidate-as-better-fit-to-rival-trump-in-2024-presidential-r">trying to push him out of the race</a> in the wake of the debate with Trump. However, he said during the interview that senior Democrats would not ask him to step aside.
Why It Matters: Biden&#8217;s determination to continue his presidential bid comes amid a growing push from within his party for him to step down. The latest Morning Consult poll, conducted after the first presidential debate, saw <a href="https://www.benzinga.com/general/politics/24/07/39653056/trump-vs-biden-former-president-retakes-lead-in-2024-election-poll-after-debate-more-voters-see-">Trump retake his lead</a>.
Former Obama administration official, Van Jones, has indicated that <a href="https://www.benzinga.com/news/24/07/39638455/obama-era-official-says-democrats-discussing-how-to-replace-biden-full-scale-panic-behind-the-scenes">Democrats are privately considering the replacement of President Biden</a>. Jones disclosed that the internal discussion among Democrats is focused on "how" to replace Biden, not "whether". He added that the Democrats defending Biden publicly are having "completely different" discussions behind closed doors.
Despite the growing calls for his withdrawal, Biden <a href="https://www.benzinga.com/news/24/07/39640413/im-not-going-anywhere-biden-rebuffs-calls-for-withdrawal-from-presidential-election-during-fourth-of">reiterated his commitment to stay in the race</a> during the Fourth of July celebrations. As he mingled with guests, a voice called out for him to "Keep up the fight."
Read Next:
<a href="https://www.benzinga.com/23/09/34563432/mike-pence-recalls-joe-bidens-job-advice-im-very-proud-of-the-relationship-i-had-with-president-trum?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mike Pence Recalls Joe Biden&#8217;s VP Advice: &#8216;Very Proud Of Relationship With Trump&#8217;</a>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Biden Asserts He Is Not Pulling Out Of Presidential Race, Says Only 'Lord Almighty' Could Force Him

CJET

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

WEX (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WEX#NYSE">WEX</a>) has outperformed the market over the past 15 years by 30.84% on an annualized basis producing an average annual return of 43.72%. Currently, WEX has a market capitalization of $7.44 billion. 
Buying $100 In WEX: If an investor had bought $100 of WEX stock 15 years ago, it would be worth $23,055.84 today based on a price of $177.53 for WEX at the time of writing.
<h3>WEX's Performance Over Last 15 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1720215026_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

If You Invested $100 In This Stock 15 Years Ago, You Would Have $23,000 Today

Blackstone (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BX#NYSE">BX</a>) has outperformed the market over the past 10 years by 3.57% on an annualized basis producing an average annual return of 14.51%. Currently, Blackstone has a market capitalization of $92.14 billion. 
Buying $100 In BX: If an investor had bought $100 of BX stock 10 years ago, it would be worth $380.79 today based on a price of $122.60 for BX at the time of writing.
<h3>Blackstone's Performance Over Last 10 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1720215021_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Here's How Much You Would Have Made Owning Blackstone Stock In The Last 10 Years

Calls for President Joe Biden <a href="https://www.benzinga.com/news/24/06/39540588/joe-bidens-debate-performance-triggers-democratic-panic-biden-sounds-hoarse-looks-tired-and-is-babbl">to step down</a> ahead of <a href="https://www.benzinga.com/topic/2024-electionhttps://www.benzinga.com/topic/2024-election">the 2024 election</a> and make way for another candidate, such as Vice President Kamala Harris, have grown. Yet, Biden remains vocally committed to the <a href="https://www.benzinga.com/news/24/07/39628794/biden-vs-trump-new-poll-shows-president-still-very-much-in-race-despite-debate-fiasco-but-final-outc">presidential race as of Friday</a>.
Meanwhile, the latest Morning Consult poll, conducted after the first presidential debate, saw Ex-President and presumptive GOP nominee Donald Trump retake his lead.
What Happened: The new <a href="https://pro.morningconsult.com/trackers/2024-presidential-election-polling">poll </a>of nationally registered voters shows the following results, with the results from <a href="https://www.benzinga.com/general/politics/24/06/39538536/trump-vs-biden-2024-presidential-candidates-tied-ahead-of-first-debate-abortion-hits-high-for-be">the June 25 poll</a> in parentheses:
<ul>
<li>Joe Biden: 43% (44%)</li>
<li>Donald Trump: 44% (44%)</li>
<li>Someone Else: 8% (8%)</li>
<li>Don't Know: 5% (4%)</li>
</ul>
Of the Democratic voters polled, 87% have Biden as their top pick. That&#8217;s in line with the previous poll. Eighty-nine percent of Republican voters polled have Trump as their top pick, which is in line with the previous poll.
Independent voters, who could decide the election, selected their 2024 pick as follows, with the June 25 results in parentheses:
<ul>
<li>Joe Biden: 33% (34%)</li>
<li>Donald Trump: 37% (37%)</li>
<li>Someone Else: 18% (18%)</li>
<li>Don't Know: 12% (11%)</li>
</ul>
Read Also:<a href="https://www.benzinga.com/general/politics/24/06/39558557/kamala-harris-defends-bidens-slow-start-at-debate-with-strong-finish-clinton-newsom-obama-race-t"> Kamala Harris Defends Biden&#8217;s &#8216;Slow Start&#8217; At Debate With &#8216;Strong Finish&#8217;: Clinton, Newsom, Obama Race To Support President</a>
Why It's Important: After <a href="https://www.benzinga.com/general/politics/24/07/39620336/biden-contemplates-future-in-2024-race-after-poor-debate-showing-report">the recent debate performance</a>, Biden could lose support in election polls and the next Morning Consult poll could show a much different result.
While Biden only trails by one percentage point in the latest Morning Consult poll, his campaign won't like several findings.
<ul>
<li>68% of voters say Biden is too old for the presidency, compared to 64% before the debate. </li>
<li>Among Democratic voters, 50% said Biden was too old, up seven percentage points from before the debate.</li>
<li>The poll found that only 35% of voters consider Biden to be in good health, compared to 41% before the presidential debate.</li>
<li>63% of Democratic voters see Biden in good health, compared to 75% before the debate.</li>
<li>When asked if Biden is mentally fit, 37% of voters said yes, compared to 43% before the debate. </li>
<li>Among Democratic voters, 68% said Biden is mentally fit, down from 77% before the debate.</li>
</ul>
Biden being mentally fit hit the lowest score for all voters and Democrats since polling began in 2020.
For a ninth consecutive week, Biden's net favorability rating has been ahead of Trump's, marking Biden's longest streak since April 2023.
However, voters were 31 points more likely of having heard, read or seen something negative than positive about Biden after the debate. This marked Biden's worst buzz rating since tracking for the 2024 election began in November 2022.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/general/politics/24/07/39625833/who-gets-the-fundraising-money-if-joe-biden-drops-out-of-2024-election">Who Gets The Fundraising Money If Joe Biden Drops Out Of 2024 Election?</a></li>
</ul>

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