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iShares Future Cloud 5G and Tech ETF

With one month to go, Kamala Harris is slightly ahead of Donald Trump in the presidential race, <a href="https://www.benzinga.com/news/24/08/40667209/trump-vs-harris-new-polls-reveal-this-candidate-is-outperforming-in-swing-states">as per recent polling data</a>.
What Happened: Recent surveys indicate that Harris is leading Trump by a margin of two to five points, with less than five weeks remaining until the election.
The latest Emerson poll reveals Harris leading with 50% against Trump&#8217;s 48%. The Morning Consult&#8217;s weekly <a href="https://pro.morningconsult.com/trackers/2024-presidential-election-polling">poll</a> also shows Harris ahead by five points, 51% to 46%. Similar results were seen in a Susquehanna <a href="https://x.com/SusquehannaPR/status/1841524316082778119">poll</a> and an Economist/YouGov <a href="https://today.yougov.com/politics/articles/50629-harris-leads-vp-debate-media-filibuster-eric-adams-september-29-october-1-2024-economist-yougov-poll">poll</a> released this week, with Harris leading by five and three points respectively.
But despite Harris lead, her advantage has slightly diminished over the past two months, peaking at 3.7 points in late August, as per FiveThirtyEight's weighted polling average. RealClearPolitics' latest polling average shows Harris leading Trump by 2.2 points.
According to a Cook Political Report survey, Harris is leading Trump by one point overall in the seven battleground states likely to decide the election. However, the NBC News/Telemundo/CNBC <a href="https://www.nbcnews.com/politics/2024-election/poll-harris-trump-democrats-advantage-latino-voters-continues-shrink-rcna172686">poll</a> indicates that Harris&#8217; lead among Latinos is dwindling.
Pre-debate surveys suggested that Harris' polling surge seemed to have reached a plateau. Although most post-debate surveys indicate that the majority of respondents believe Harris won the debate, it was not enough to significantly impact the race between the two candidates.
Also Read: <a href="https://www.benzinga.com/news/24/09/41082772/harris-vs-trump-new-polls-show-tight-race-in-battleground-states">Harris Vs Trump: New Polls Show Tight Race In Battleground States</a>
Also a <a href="https://www.genderontheballot.org/wp-content/uploads/2024/10/6574-GOTB-2024-Deck-c2_release.pdf">poll</a> conducted by American University (AU) and the Benenson Strategy Group revealed that 51% of women trust Harris to tackle inflation and the high cost of gas and groceries. This is in contrast to the 37% who trust her GOP rival, Trump, on these issues.
The survey also showed that Harris and her running mate, Minnesota Gov. Tim Walz, are trusted more on immigration, another key issue with the election just over a month away. Harris&#8217;s favorability among independent women has increased by 23 points since last year, with 51% finding her favorable.
Furthermore, the poll emphasized that the economy and inflation are the most important issues for women in the 2024 White House race, with 64% of respondents indicating this. Harris currently holds a 3.7-point lead over Trump nationally, according to The Hill/Decision Desk HQ's polling index.
Why It Matters: The close race between Harris and Trump underscores the deeply divided political landscape in the United States. 
The shrinking lead of Harris, particularly among Latinos, could be a cause for concern for her campaign. The outcome of the election could hinge on the seven battleground states, where the race is currently too close to call. 
The impact of the debates on the polling numbers also highlights the importance of these events in shaping public opinion. Also Harris&#8217; lead over Trump and her increased favorability among independent women could potentially influence the election results.
Read Next
<a href="https://www.benzinga.com/news/24/09/41080153/trump-vs-harris-this-candidate-skyrockets-in-election-forecast-poised-to-secure-victory-in-four-swin" target="_blank" rel="noreferrer noopener">Trump Vs Harris: This Candidate Skyrockets in Election Forecast, Poised To Secure Victory In Four Swing States</a>
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.

News

Politics

Polls Suggest This Candidate Holds Slim Lead In Presidential Race With One Month To Go

U.S. District Court Judge for the District of Columbia Tanya Chutkan made public this week a <a href="https://www.benzinga.com/news/24/10/41156198/jack-smith-makes-case-against-trump-he-resorted-to-crimes-to-try-to-stay-in-office-after-losing-elec">filing by Special Prosecutor Jack Smith</a> that detailed Donald Trump&#8217;s alleged election subversion efforts in the aftermath of the 2020 election. Mary Trump, the former president&#8217;s niece, on Thursday delved into the development in a substack post.
Legal Setback: Smith&#8217;s document, which was written in part to to take into account the presidential immunity ruling handed down by the &#8220;corrupt illegitimate super-majority of the Supreme Court&#8221; is devastating, <a href="https://www.marytrump.org/p/donald-trump-vs-the-american-people">said</a> Mary Trump in the post. She noted that Smith made the case that Donald Trump acted as a private citizen and a private candidate when he planned and incited the Jan. 6, 2021 insurrection and therefore his conduct is not protected by the Supreme Court&#8217;s immunity ruling, she added.
Mary Trump noted that Smith detailed the important role played by Donald Trump&#8217;s political rallies in the days and weeks leading up to Jan. 6 riots, which he &nbsp;used, in part, to perpetuate false claims about his having won the election. 
Judge Chutkan and Smith deemed it fit to make public the information before the Nov. 5 election, given Donald Trump effectively games the legal system in his favor, reducing the chances of the case going to trial before the election, she said. There is a real possibility of the case never going to trial at all due to the &#8220;corrupt illegitimate super majority of the Supreme Court,&#8221; she added.
&#8220;The presidential candidate the Republican Party nominated, and the traitor they continue to support almost unequivocally, engaged in a conspiracy against the American people,&#8221; Mary Trump said.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40778409/donald-trump-winning-the-election-could-propel-bitcoin-to-90k-but-a-kamala-harris-win-coul">Donald Trump Winning The Election Could Propel Bitcoin To $90K, But A Kamala Harris Win Could Tank BTC To $40K: Bernstein</a>
Trump Team&#8217;s Wrong Claim: In a separate <a href="https://www.marytrump.org/p/taking-it-in-his-stride">post</a>, Mary Trump weighed in on the election interference accusation Donald Trump and the Republicans have made against Chutkan and Smith on the grounds that the filing was released only 35 days out from the election.
The psychologist said there has been no intent to affect the outcome of the election as both &#8220;Smith and Chutkan are simply dealing as best they can with the hand they've been dealt while trying to comply with the almost impossible constraints the Supreme Court ruling placed upon them.&#8221;
She blamed Attorney General Merrick Garland for taking nearly two years for the appointment of the Special Counsel. The &#8220;extraordinary&#8221; delays once Smith was appointed was due to Donald Trump and the &#8220;corrupt illegitimate super-majority on the Supreme Court,&#8221; she said.
&#8220;We're here because Donald Trump figured out a long time ago how to game the system. If you&#8217;re the guilty party, and he nearly always is, your best bet is to create as many delays as possible,&#8221; Mary Trump said. &#8220;This time around he also had the corrupt, illegitimate super-majority of the Supreme Court backing him up all the way,&#8221; she added.
<a href="https://www.benzinga.com/general/politics/24/10/41176806/harris-vs-trump-vice-president-leads-2024-election-poll-young-voters-help-but-voter-issues-could">Trump trails his rival and Democratic Party candidate Kamala Harris</a> in nationwide polls even as the general election draws closer.
Did You Know?
<ul>
<li>Congress Is Making Huge Investments.&nbsp;<a href="https://www.benzinga.com/gov-trades" target="_blank" rel="noreferrer noopener">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>

Media

Mary Trump Says Special Counsel's Filing Counter Ex-President's Efforts To Game Legal System In His Favor

With a major dockworkers&#8217; strike on hold for now, entrepreneur Kevin O&#8217;Leary highlights the outdated infrastructure and <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41187855/port-strike-ends-after-3-days-retaliers-politicians-breathe-a-sigh-of-relief" target="_blank" rel="noreferrer noopener">rising tensions over union demands</a>.
On Fox Business&#8217; Varney &amp; Co. on Friday, O&#8217;Leary remarked that East Coast ports are outdated and inefficient, <a href="https://www.foxbusiness.com/media/kevin-oleary-addresses-the-trouble-us-ports-union-automation-concerns">reported</a> Fox Business.
A major strike by the International Longshoremen&#8217;s Association halted trade at East and Gulf Coast ports, affecting billions in commerce. The union has agreed to continue under an expired contract through mid-January.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/global/24/10/41148694/beer-shortage-ahead-3-products-that-will-be-most-impacted-by-port-strike" rel="noreferrer noopener">Beer Shortage Ahead? 3 Products That Will Be Most Impacted By Port Strike</a>
Leary went on to explain that when comparing East Coast ports to international ones like those in Singapore and other Asian locations, they fall short, which negatively impacts productivity.
O&#8217;Leary noted that studies on port automation reveal no negative impact on wages on the East and West Coasts. In fact, he argued that automation could enhance wages for employees skilled in using robotic systems, fostering job creation and promoting wage growth.
The&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/10/41177060/port-strike-ends-workers-return-to-work-friday" rel="noreferrer noopener">strike ended Thursday night</a>&nbsp;this week following the USMX&#8217;s offer to increase pay by 62%.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/startups/24/10/41196233/kevin-oleary-defends-the-american-dream-on-fox-business-im-the-guy-that-invests-in-businesses-5-to-5" target="_blank" rel="noreferrer noopener">Kevin O&#8217;Leary Defends The American Dream On Fox Business – &#8216;I&#8217;m The Guy That Invests In Businesses 5 To 500 Employees, We Are On Fire!&#8217;</a></li>
</ul>

Equities

Markets

General

Kevin O'Leary Says Port Automation Won't Hurt Wages

Business mogul Mark Cuban once made a spontaneous purchase of a lifetime flight pass from American Airlines during a celebratory spree, <a href="https://www.benzinga.com/news/23/12/36058376/how-being-a-lousy-employee-fueled-mark-cubans-success-i-was-a-know-it-all">later upgrading it</a>.
What Happened: Cuban revealed in a recent podcast that he acquired the pass in the aftermath of selling his first business, MicroSolutions, for a whopping $6 million. 
He <a href="https://www.youtube.com/watch?v=0DAVdTTgGcU">said</a> during the podcast that In a celebratory mood, he reached out to American Airlines to inquire about the lifetime pass, and upon confirmation of its availability, he immediately bought it for $125,000.
The pass, dubbed the AAirpass, was launched in the early 1980s, providing unlimited first-class travel for life. The price was determined by the buyer&#8217;s age at the time of purchase. 
"They're like, ‘What do you think you're going to do with all this money?' And I'm like, ‘I don't care about cars or houses, but boy, you know, I fly a lot for work, " he said during the interview.
Also Read:&nbsp;<a href="https://www.benzinga.com/top-stories/24/06/39241650/heres-how-mark-cuban-made-91-of-his-employees-millionaires" target="_blank" rel="noreferrer noopener">Here&#8217;s How Mark Cuban Made 91% Of His Employees Millionaires</a>
"I got all that information, hungover as hell, and I signed up. Initially, it was $125,000 and then I upgraded it. I forget how much I paid, but it gave me almost unlimited miles for me and somebody else for the rest of my life," he added. 
At 32 years old, Cuban bought the pass, which is now estimated to be valued at around $300,000 today, after adjusting for inflation.
Following the demise of his father, Cuban transferred the AAirpass to a friend. However, American Airlines has since phased out the unlimited pass, terminating the program in March 2024.
Why It Matters: Despite his lavish spending habits, Cuban advocates for a frugal lifestyle, comparing it to that of a &#8220;college student&#8221;, and urges people to save money. 
The billionaire has been residing in the same house for the past 18 years and continues to drive the same cars. 
His impulsive purchase of the pass, which has significantly appreciated in value, underscores his knack for making shrewd investments, even when made in a state of inebriation.
Read Next
<a href="https://www.benzinga.com/news/24/08/40667225/mark-cuban-asks-his-8m-x-followers-about-whose-character-would-they-like-young-children-to-grow-up-e">Mark Cuban Asks His 8M X Followers About Whose Character Would They Like Young Children To Grow Up Emulating Between Trump And Harris: Cuban Receives Half A Million Responses, Majority Supporting This Candidate</a>
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Social Media

Success Stories

Here's How Mark Cuban's Drunken Splurge Of $125,000 Turned Into A Profitable Investment

In his debut address to the United Nations General Assembly, Argentine President Javier Milei delivered a speech that raised eyebrows for its striking resemblance to a key scene from the popular TV show <a href="https://www.benzinga.com/general/politics">&#8220;The West Wing.&#8221;</a>
The similarities between Milei&#8217;s words and a monologue delivered by the fictional President Josiah Bartlet in the fourth season of the political drama have sparked discussions on whether the president&#8217;s speech was plagiarism or intentional homage, as <a href="https://www.lanacion.com.ar/politica/el-dia-que-javier-milei-plagio-en-la-onu-al-personaje-de-la-serie-the-west-wing-nid03102024/">reported</a> by La Nación.
See Also: <a href="https://www.benzinga.com/news/24/10/41173594/incestuous-milei-donald-trumps-digital-slip-with-javier-milei-parody-accounts-goes-viral-on-x">&#8216;Incestuous Milei&#8217;: Donald Trump&#8217;s Digital Slip With Javier Milei Parody Accounts Goes Viral On X</a>
Prominent Argentine journalist Carlos Pagni was one of the first to point out the connection, highlighting the close alignment between Milei&#8217;s speech and Bartlet&#8217;s monologue.
<h3 class="wp-block-heading">Milei&#8217;s Speech At The UN</h3>
During his 15-minute address, Milei delivered a passage that many have noted bears an uncanny resemblance to Bartlet's speech from &#8220;The West Wing.&#8221;
"We believe in freedom of speech for all; we believe in freedom of worship for all; we believe in free trade for all, and we believe in limited governments, all of them,&#8221; Milei said during last week&#8217;s speech. &#8220;And since in these times what happens in one country quickly impacts others, we believe that all peoples should live free from tyranny and oppression, whether it takes the form of political oppression, economic slavery, or religious fanaticism. That fundamental idea must not remain mere words; it must be supported by deeds, diplomatically, economically, and materially."
This echoes a near-verbatim passage from the series&#8217; 15th episode of season four. 
&#8220;We're for freedom of speech everywhere. We're for freedom of worship everywhere. We're for freedom to learn&#8230; for everybody. And as in our time, you can build a bomb in your country and bring it to mine, what happens in your country is my business.,&#8221; President Bartlet, played by Martin Sheen, said to his team in the Oval Office.
&#8220;That's why we're for freedom from tyranny everywhere, whether it takes the form of political oppression, Toby, or economic slavery, Josh, or religious fanaticism, C.J. That fundamental idea can't be met simply with our support. It has to be met with our strength. Diplomatically, economically, materially.&#8221;
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
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<iframe loading="lazy" title="El día que Javier Milei "plagió" en la ONU al personaje de la serie The West Wing" width="500" height="281" src="https://www.youtube.com/embed/tFW6FpAUcv8?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>
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<h3 class="wp-block-heading">A Strategic Choice Or Plagiarism?</h3>
The resemblance between the two speeches is hard to ignore. Santiago Caputo, Milei's controversial communications advisor, actively embraces his dedication to &#8220;The West Wing.&#8221;
As Argentine journalist Hugo Alconada Mon recently pointed out, Caputo has reportedly watched the entire series between seven and nine times. Caputo even suggested that new employees at his consulting firm, Move Group, watch the show as a condition for joining the company.
This isn't the first time Milei's speeches have raised suspicions. His inaugural address on December 10th also featured rhetoric that bore a resemblance to Bartlet's character. 
Standing before the Argentine Congress, Milei said: ·The challenges we face are enormous, but so is our capacity to overcome them,&#8221; words eerily similar to Bartlet's famous line, &#8220;Every time we think we've measured our capacity to meet a challenge, we look up and realize that capacity may well be limitless.&#8221;
In another instance, Milei's national broadcast on April 22, where he proclaimed: &#8220;The era of the present State is over,&#8221; echoes a line from the show in which Bartlet's speechwriter Toby Ziegler says: &#8220;The era of big government is over.&#8221;
<h3 class="wp-block-heading">Milei&#8217;s West Wing-Inspired Style</h3>
Milei's reliance on &#8220;The West Wing&#8221; may extend beyond mere rhetoric. Observers have noted aesthetic similarities between Milei's public appearances and the institutional style portrayed in the series, particularly the podiums used for his speeches—an element that his predecessors have largely avoided.
The president's admiration for the fictional Nobel laureate economist Bartlet is also worth noting, as both share a professional background in economics. 
Yet, the parallels end there. Bartlet embodies a progressive Democrat with strong support for public institutions, while Milei&#8217;s libertarian views stand in stark contrast, advocating for minimal government intervention.
<h3 class="wp-block-heading">The Shadow Of Plagiarism Accusations Loom Over Argentina&#8217;s President</h3>
This is not the first time the Argentinian president has faced plagiarism accusations. 
Critics attacked Milei&#8217;s book &#8220;Pandenomics&#8221; for including several uncredited passages from authors like Gita Gopinath and Antonio Guirao Piñera. 
They also accused him of copying ideas from Austrian School economists like Ludwig von Mises and Murray Rothbard without proper citation in his columns. 
Milei defended himself arguing that as a &#8220;communicator&#8221; he isn&#8217;t obligated to cite sources in his writings.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/general/entertainment/24/10/41149991/lali-esp-sito-the-argentinian-taylor-swift-released-a-diss-track-against-president-javier-m">Lali Espósito, The &#8216;Argentinian Taylor Swift,&#8217; Released A Diss Track Against President Javier Milei</a></li>
</ul>
Image credits: Shutterstock.

Latin America

Did Argentina's President Javier Milei Plagiarize 'The West Wing' In UN Speech?

Renowned author and entrepreneur Robert Kiyosaki recently expressed concerns over escalating global tensions and questioned the <a href="https://www.benzinga.com/news/24/08/40544194/robert-kiyosaki-kamala-harris-is-avocado-toast-her-lying-immoral-unethical-days-coming-to-an-end">current U.S. leadership&#8217;s strength</a>.
What Happened: On Saturday, Kiyosaki took to X to voice his concerns about the recent military actions by Israel and the potential for a global conflict. 
He questioned if this could be the start of World War III and urged his followers to be prepared.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">WWIII Israel just launched F35 to bomb Iran. Is this the start of WWIII? Are you prepared? This is what happens when we have weak leaders such as Joe Biden and Kamala Harris. As Jordan Peterson stated: "If you think tough leaders are bad…wait til you see the damage weak…
&mdash; Robert Kiyosaki (@theRealKiyosaki) <a href="https://twitter.com/theRealKiyosaki/status/1842441325435924835?ref_src=twsrc%5Etfw">October 5, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Kiyosaki also criticized the current U.S. leadership, referring to President Joe Biden and Vice President Kamala Harris as &#8220;weak leaders.&#8221;
Also Read: <a href="https://www.benzinga.com/news/24/09/40869188/robert-kiyosaki-rings-alarm-bells-over-soaring-us-debt-the-dollar-is-trash">Robert Kiyosaki Rings Alarm Bells Over Soaring US Debt: &#8216;The Dollar Is Trash&#8217;</a>
The entrepreneur expressed his support for Donald Trump, calling him a strong leader.
Why It Matters: Kiyosaki&#8217;s comments come amidst rising global tensions. His criticism of the current U.S. leadership and support for Trump highlight the ongoing political divide in the country. 
His reference to the military actions by Israel and the potential for a global conflict underscore the increasing concerns about global stability and security.
While Kiyosaki is known for his financial advice, his recent tweet indicates a shift towards more political commentary. His views on leadership and global security issues could influence his followers and contribute to the ongoing political discourse.
Read Next
<a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41126018/bitcoin-plunges-below-62k-as-iran-launches-missile-attack-on-israel">Bitcoin Plunges Below $62K As Iran Launches Missile Attack On Israel</a>
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.

Global

Robert Kiyosaki: 'We Need Strong Leaders, That Is Why I Support My Friend Trump For President'

Jeff Bezos, the founder of Amazon, has a distinctive morning routine that avoids screen time for the first hour of the day. Recent neuroscience research indicates that this method could lead to smarter, healthier days.
What Happened: Bezos, unlike many CEOs, dedicates the initial hours of his day to non-digital activities. This routine, first unveiled in a 2018 speech at the Economic Club of Washington, includes reading the newspaper, savoring coffee, and having breakfast with family.
Bezos&#8217; partner, Lauren Sanchez, confirmed in a recent People interview that the couple adheres to a &#8220;no phones&#8221; rule in the mornings. Bezos is convinced that this slow, phone-free start enhances his energy and decision-making abilities throughout the day.
According to the report <a href="https://www.inc.com/jessica-stillman/jeff-bezos-says-the-1-hour-rule-makes-him-smarter-new-neuroscience-says-hes-right/90982121">by</a> Inc.com, neuroscience research backs Bezos&#8217;s claim. The Stanford Lifestyle Medicine Program suggests that limiting screen time, particularly in the morning, can yield significant health benefits.
Also Read: <a href="https://www.benzinga.com/general/entertainment/24/09/40760465/jeff-bezos-enforces-no-phones-in-the-morning-house-rule-says-partner-lauren-s-nchez-the-mor">Jeff Bezos Enforces &#8216;No Phones In The Morning&#8217; House Rule, Says Partner Lauren Sánchez: &#8216;The Mornings Are Just Us, For As Long As We Can&#8217;</a>
Overuse of screens has been associated with learning and memory issues, mental health problems, and even an elevated risk of brain-related diseases.
Maris Loeffler of Stanford Lifestyle Medicine advocates for adopting Bezos&#8217;s one-hour rule, proposing activities such as exercise, meditation, or reading as healthier alternatives to screen time. 
This approach aligns with Bezos&#8217;s belief in respecting personal rhythms and energy levels for a more productive day.
Why It Matters: The neuroscience-backed benefits of limiting screen time, especially in the morning, are becoming increasingly recognized. 
Bezos&#8217;s morning routine, which prioritizes non-digital activities, aligns with these findings and offers a model for other leaders to consider. 
The potential benefits of this approach, including enhanced energy and decision-making abilities, could have significant implications for productivity and overall well-being.
Read Next
<a href="https://www.benzinga.com/news/24/06/39563534/jeff-bezos-reveals-the-one-secret-to-success-you-can-have-a-job-or-you-can-have-a-career-or" target="_blank" rel="noreferrer noopener">Jeff Bezos Reveals The One Secret To Success: ‘You Can Have A Job, Or You Can Have A Career, Or …'</a>
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.

Health Care

Tech

AMZN

Jeff Bezos Swears By This One-Hour Rule For Success — Now Neuroscience Backs It Up

Tech titan and co-founder of Microsoft, Bill Gates has descended to his lowest position on the Forbes 400 list in almost a <a href="https://www.benzinga.com/news/24/04/38348729/beyond-microsoft-bill-gates-multi-million-dollar-investments-in-luxury-homes-and-farmland">quarter of a century</a>.
What Happened: Despite amassing a colossal fortune of $107 billion, Gates has slipped to the ninth position, a significant drop from his sixth place ranking last year.
As per the report <a href="https://www.forbes.com/sites/kerryadolan/2024/10/01/bill-gates-falls-to-lowest-rank-on-the-forbes-400-in-nearly-25-years/">by</a> Forbes, his net worth has also seen a $4 billion decrease from the previous year, even as U.S. stock indices such as the S&amp;P 500 and the Nasdaq 100 surged by 30%. This marks the first time since 1991 that Gates has not featured among the top ten wealthiest individuals globally.
A key contributor to this decline is Gates&#8217; 2021 divorce from Melinda French Gates. Forbes has almost tripled its previous estimate of the divorce settlement awarded to French Gates, elevating her net worth to an estimated $29 billion, a substantial increase from $10.3 billion last year.
Also Read:&nbsp;<a href="https://www.benzinga.com/news/24/08/40429632/book-bill-gates-leadership-instills-fear-created-kings-court-like-atmosphere-at-foundation" target="_blank" rel="noreferrer noopener">Bill Gates' Leadership Instills Fear, Created ‘King's Court-Like' Atmosphere At Foundation</a>
Additionally, French Gates has received an extra $12.5 billion for her philanthropic endeavors, funds that were not a transfer from the Gates Foundation but a direct contribution from Bill Gates. This has positioned her as the ninth-richest woman in the U.S.
During the Forbes 400 Summit on Philanthropy in September 2022, Gates had anticipated his decline on the Forbes ranking, expressing his intention to continue donating more of his wealth until he eventually falls off the Forbes billionaires list.
Why It Matters: The drop in Gates&#8217; ranking on the Forbes 400 list is indicative of his ongoing commitment to philanthropy. 
His decision to donate a significant portion of his wealth, coupled with the financial implications of his divorce, has resulted in a noticeable shift in his financial standing. 
Despite this, Gates continues to be a prominent figure in the tech industry and his philanthropic efforts continue to make a significant impact worldwide.
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Entrepreneurship

Here's Why Bill Gates Drops To Historic Low On Forbes 400 List

President Joe Biden made his first-ever appearance at a regular White House press briefing on Friday, where he expressed uncertainty regarding the peaceful outcome of the upcoming presidential election. The President&#8217;s concerns stem from the rhetoric of <a href="https://www.benzinga.com/news/24/09/40869086/trump-vs-harris-new-poll-reveals-post-debate-swing-towards-this-candidate-in-key-state">former President Donald Trump</a>.
What Happened: During the briefing, Biden voiced his doubts about the peaceful conclusion of the upcoming election.
Despite expressing confidence in the election being &#8220;fair and free,&#8221; Biden raised concerns about potential unrest, attributing it to Trump&#8217;s &#8220;very dangerous&#8221; comments. He confirmed that he has been receiving briefings related to domestic security, <a href="https://www.foxnews.com/media/conservatives-joke-biden-made-trump-campaign-ad-calling-harris-major-player-everything-admin-does">reports</a> Fox News.
When asked about his feelings towards the election and whether he believes it will be free, fair, and peaceful, Biden responded, &#8220;Two separate questions. I'm confident it will be free and fair. The things that Trump has said and the things that he said last time out, when he didn't like the outcome of the election, were very dangerous,&#8221; Biden said.
Also Read: <a href="https://www.benzinga.com/news/24/09/41080085/trump-voices-criticism-of-harris-and-biden-ev-policies-every-car-is-going-to-be-electric-they-say-i">Trump Voices Criticism Of Harris And Biden EV Policies: &#8216;Every Car Is Going To Be Electric, They Say. I Will Terminate That, On Day One&#8217;</a>
Biden also expressed concern over the Republican vice presidential candidate&#8217;s reluctance to accept the election outcome, drawing parallels with Trump&#8217;s reaction to the previous election results.
&#8220;The vice presidential Republican candidate did not say he'd accept the outcome of the election. He wasn't happy to accept the outcome of the last election. So I I'm concerned about what they're going to do,&#8221; Biden added. 
On the topic of security preparations, Biden assured, &#8220;I always get those briefings.&#8221;
Why It Matters: The peaceful transition of power is a cornerstone of American democracy. Biden&#8217;s concerns reflect the heightened political tensions in the country, largely fueled by Trump&#8217;s refusal to concede defeat in the 2020 election. 
This has led to widespread fears about potential unrest and violence surrounding the upcoming election. 
The President&#8217;s comments underscore the importance of maintaining peace and security during this critical period.
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Biden Anticipates Potential Unrest In Upcoming Election: 'Trump Has Said Very Dangerous Things'

The <a href="https://hempsupporter.com/">U.S. Hemp Roundtable</a>, <a href="https://www.benzinga.com/markets/cannabis/24/05/38599614/cheech-and-chong-brand-ceo-talks-cannabis-retail-expansion-and-designs-that-resonate-with-the-le" target="_blank" rel="noreferrer noopener">Cheech and Chong's Cannabis Company</a> and several California hemp farmers and businesses petitioned California courts on Friday for a temporary restraining order (TRO) to prevent the enforcement of Governor Gavin Newsom's <a href="https://www.benzinga.com/markets/cannabis/24/09/40756333/gov-newsom-proposes-emergency-rules-to-severely-restrict-hemp-products-this-will-destroy-our-bus" target="_blank" rel="noreferrer noopener">emergency regulations</a> to ban all hemp products containing any &#8220;detectable amount of total THC.&#8221;
Plaintiffs challenging Newsom's ban, which sent shock waves through California's hemp and cannabis industry, are asking a state judge to temporarily halt enforcement of the new rules while the legal challenge proceeds, arguing that the prohibition is unlawful and will cause irreparable harm to the hemp industry. The emergency regulations bans 90-95% of hemp products on the marketplace, including manufacturing or selling them in California.   
"If allowed to remain in effect, the Emergency Regulations will eliminate nearly every ingestible hemp product currently for sale in California, including the vast majority of nonintoxicating products," the plaintiffs argued in their <a href="https://hempsupporter.com/wp-content/uploads/2024/10/TRO-PI-US-Hemp-Roundtable-v.-California-Department-of-Public-Health-4856-4917-0923.9-1.pdf">filing</a>. "Many small businesses will have to close operations immediately with millions in losses. Relief is thus warranted because the Emergency Regulations are substantially unlawful and have in any event been adopted by drastically unlawful means."
Read Also:<a href="https://www.benzinga.com/markets/cannabis/24/10/41183711/what-newsom-is-proposing-will-crater-the-hemp-industry-could-californias-restrictions-spread-nat"> &#8216;What Newsom Is Proposing Will Crater The Hemp Industry&#8217;: Could California&#8217;s Restrictions Spread Nationwide?</a>
In the initial lawsuit filed in late September, plaintiffs argued that the state had declared an "emergency" without basis and failed to implement existing hemp legislation, which was passed in 2021. "The Department [of Public Health] had nearly three years to address these issues," the TRO request states.
<h2 class="wp-block-heading">Hemp Roundtable Attorney Responds</h2>
"We are hopeful that the Court will temporarily block – and then ultimately, permanently enjoin – Governor Newsom's misguided efforts to devastate hemp farmers, business and product consumers in California," Jonathan Miller, the Roundtable's General Counsel stated in an email shared with Benzinga. "It's high time that the Governor abandon this punitive effort and sit down with all stakeholders to appropriately address his stated mission: to develop a robust regulatory regime that promotes health and safety and keeps hemp products out of the hands of minors."
Newsom's ruling also includes a ban on manufacturing and selling hemp-THC products intended for sale outside California. This broad scope threatens the entire national supply chain, <a href="https://www.benzinga.com/markets/cannabis/24/09/40756333/gov-newsom-proposes-emergency-rules-to-severely-restrict-hemp-products-this-will-destroy-our-bus">say experts</a>, raising concerns over state overreach and violations of interstate commerce laws​.
Newsom's ban <a href="https://www.benzinga.com/markets/cannabis/24/09/41012794/gov-newsoms-hemp-ban-goes-into-effect-consequences-for-industry-investors-patients">went into effect</a> on Sept. 23, immediately after it was approved by the Office of Administrative Law.
The hearing for the TRO has been scheduled for 9:30 AM PDT/12:30 AM EDT, Thursday, October 10th. Nolan Jackson, the Hemp Roundtable's regulatory counsel, will be arguing the motion on behalf of the plaintiffs
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Donald Trump&#8217;s Michigan event on Friday, framed as an address on the local economy amid inflation concerns,<a href="https://www.benzinga.com/news/24/09/41078459/vice-president-harris-promises-tougher-border-security-and-immigration-reform-in-arizona" target="_blank" rel="noreferrer noopener"> shifted focus to border security and rampant criticism of migrants</a>.
For 25 minutes, he criticized migrants, using increasingly graphic language, despite the manufacturing backdrop and audience of workers, reported Reuters.
Trump made unfounded claims that migrants crossing the U.S. border were responsible for widespread violence, asserting that they engage in horrific acts without remorse.
Not to forget that Trump&#8217;s general disdain for migrants has been a central theme of his campaign this election season.
In fact, recent <a target="_blank" href="https://www.axios.com/2024/10/05/trump-migrants-venezuelan-congolese-rhetoric" rel="noreferrer noopener">research</a> by the Axios suggests that he has focused on Venezuelan and Congolese individuals labeled as criminals. Trump labeled migrants from Mexico as criminals 13 times and those from Guatemala 10 times from Sept. 1, 2023, to Oct. 2, 2024.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/10/41196047/vc-ben-horowitz-first-endorsed-donald-trump-now-pledges-support-for-kamala-harris" rel="noreferrer noopener">VC Ben Horowitz First Endorsed Donald Trump, Now Pledges Support For Kamala Harris</a>
His increasingly apocalyptic rhetoric includes unfounded claims about migrants&#8217; criminal backgrounds and dire consequences, all while he pushes for mass deportations.
He also suggested that these individuals commit brutal crimes in front of families.
Critics argue this strategy aims to amplify racist stereotypes and exploit Republican fears about the influx of border crossers into the U.S.
This shift in language comes despite the White House implementing new restrictions that have significantly reduced migrant entries. Earlier this year, Trump also played a role in derailing a bipartisan bill in Congress designed to enhance border security.
However, Reuters highlighted that Trump&#8217;s message linking migrants to crime appears to be resonating.
A recent <a target="_blank" href="https://www.kff.org/" rel="noreferrer noopener">KFF</a> poll revealed that 80% of Americans surveyed had encountered false claims about migrants causing an increase in violent crime, while 74% had heard that immigrants were taking jobs from citizens and contributing to rising unemployment, Reuters mentioned in its report.
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Trump's Dark Rhetoric: Migrants Portrayed As Criminals Amid Election Heat

Conversations regarding the normalization of relations between Israel and Saudi Arabia have been a significant diplomatic <a href="https://www.benzinga.com/topic/jared-kushner" target="_blank" rel="noreferrer noopener">goal for both the Biden and Trump administrations</a>.
Jared Kushner, son-in-law of Donald Trump, has reportedly engaged in discussions about U.S.-Saudi diplomatic negotiations related to Israel, reported Reuters.
Jared Kushner&#8217;s private equity firm Affinity Partners, linked to Trump, has received over $112 million in fees from Saudi Arabia and other foreign investors since 2021, despite not returning any profits to the governments primarily funding the firm as of July, per a recent <a href="https://www.nytimes.com/2024/09/25/us/politics/kushner-private-equity-saudi-arabia.html" target="_blank" rel="noreferrer noopener">report</a> by The New York Times.
Also Read: <a target="_blank" href="https://www.benzinga.com/government/24/09/41043869/trump-son-in-laws-pe-firms-client-agreement-creates-unprecedented-conflicts-of-interest-involving-pr" rel="noreferrer noopener">Trump Son-In-Law&#8217;s PE Firm&#8217;s Client Agreement Creates &#8216;Unprecedented&#8217; Conflicts Of Interest Involving Presidential Family, Says Democratic Senator: &#8216;These Facts Suggest The Saudi Government&#8217;s Decision…To Curry Favor…For Favorable US Policy&#8217;</a>
He has spoken with Saudi Arabia&#8217;s Crown Prince Mohammed bin Salman on several occasions since leaving the Trump administration.
In fact, Kushner has a close relationship with Saudi Arabia, which has reportedly invested $2 billion in his private equity fund, per Reuters.
However, his discussions with Crown Prince Mohammed bin Salman about a peace accord highlight the bipartisan focus on Middle East stability amid an impending presidential election.
These talks raise concerns about how Kushner&#8217;s financial ties to Riyadh might affect U.S. policy if Trump returns to power.
Saudi Arabia&#8217;s investments in Kushner&#8217;s fund have faced criticism from ethics experts and lawmakers, raising concerns of potential conflicts of interest.
Democratic Senator Ron Wyden, chair of the Senate Finance Committee, highlighted these worries in a Sept. 24 letter, emphasizing that Saudi investments could appear as a payoff given Kushner&#8217;s previous work on Saudi matters during the Trump administration, Reuters added.
Jared Kushner has denied any allegations that Saudi Arabia&#8217;s investments represent a payoff or conflict of interest, Reuters mentioned in the note.
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Jared Kushner Engages In Diplomatic Talks with Saudi Crown Prince: Report

University of Chicago economist Konstantin Sonin has issued a stark warning about the future of Russia&#8217;s economy. The ongoing conflict in Ukraine, he says, is setting the stage for a major economic crisis in Russia.
What Happened: The ongoing Ukraine war has forced Russia to tighten its grip on its economy, leading to the disintegration of key market institutions, says Sonin. 
He cites Russia&#8217;s imposition of export restrictions on vital commodities in response to Western sanctions as an example of this disintegration.
These shifts have led to significant price increases by some companies, while others, like Heineken, have had to sell their Russian operations for nominal sums. Russia has also taken steps to prevent companies from leaving the country.
Sonin <a href="https://www.project-syndicate.org/onpoint/russia-war-economy-short-term-strength-mortgaging-the-future-by-konstantin-sonin-2024-10">wrote</a> about this in an&nbsp;op-ed&nbsp;for Project Syndicate. He also notes that the Kremlin is funding the war by &#8220;borrowing from the future,&#8221; with cuts to crucial public spending programs and a rise in military spending. 
&#8220;Even more important, Putin&#8217;s borrowing from the future takes the form of a gradual, yet pervasive dismantling of the market institutions that the Russian people paid such a high price to acquire during the reforms of the 1990s,&#8221; Sonin wrote in the op-ed.
Also Read: <a href="https://www.benzinga.com/news/24/09/40894933/kim-jong-uns-north-korea-outranks-china-as-russias-top-ally-in-ukraine-conflict-says-military-intell">Kim Jong Un&#8217;s North Korea Outranks China As Russia&#8217;s Top Ally In Ukraine Conflict, Says Military Intelligence Chief</a>
&#8220;​​Investing massively in military production and simultaneously dismantling market institutions may strengthen Putin&#8217;s hand in the short term, but it sets a time bomb under longer-term economic development,&#8221; Sonin added in his article. 
Despite the economic pressure, Russia&#8217;s GDP is expected to grow by 3.2% this year, thanks to Moscow&#8217;s substantial war spending, <a href="https://www.businessinsider.com/russia-economy-ukraine-war-outlook-moscow-sanctions-west-firms-uchicago-2024-10">reports</a> Business Insider.
&#8220;Whenever the Ukraine war ends and Russia returns to international trade (beyond raw materials), all the nationalizations of recent years will come back to haunt it. Putin&#8217;s war not only imposes on today&#8217;s Russians a worse life than they otherwise would have had. It also condemns future generations,&#8221; he said in the post.
Why It Matters: However, Sonin foresees a difficult economic future for Russia. He warns that the nationalizations of recent years will have long-term effects once the Ukraine war ends and Russia re-enters international trade.
Other forecasters have echoed Sonin&#8217;s concerns, pointing to declining long-term economic health indicators and a significant worker shortage in Russia.
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Russia's Latest 'Time Bomb' Sparks Fear, But It's Not What You Think

Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) has reportedly lost log data for several of its crucial security products, which could potentially affect customers&#8217; ability to detect threats and generate security alerts.
What Happened: Microsoft experienced a failure in consistently collecting log data for a number of its vital cloud services. Logs, which document events within a program like account sign-ins, play a pivotal role in identifying unauthorized network and account access. The absence of proper recording could lead to missed potential intrusion instances.
As per the report <a href="https://www.businessinsider.com/microsoft-tells-customers-it-lost-log-data-key-security-products-2024-10">by</a> Business Insider, from September 2-19, a bug in a Microsoft internal monitoring agent caused a malfunction in uploading log data to the company&#8217;s internal logging platform.
This issue did not affect the uptime of any customer-facing services or resources, and there&#8217;s no evidence of cyberattacks resulting from this incident.
The products affected include Microsoft Entra, Microsoft Sentinel, Microsoft Defender for Cloud, and Microsoft Purview. In particular, Microsoft Sentinel customers may have encountered potential gaps in security-related logs or events, which could impact their ability to analyze data, detect threats, or generate security alerts, reports the outlet. 
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Microsoft has not yet issued a statement on this incident. This loss of log data occurs at a time when Microsoft has been emphasizing security as a top priority, in the wake of previous mishandling of security incidents.
Why It Matters: This incident underscores the importance of consistent and accurate log data collection in maintaining robust security protocols. 
For a tech giant like Microsoft, any lapse in security measures could potentially impact a vast number of customers globally. 
The incident also raises questions about the effectiveness of Microsoft&#8217;s internal monitoring systems, especially given the company&#8217;s recent emphasis on security. 
The company&#8217;s response to this incident and measures taken to prevent future occurrences will be closely watched by customers and stakeholders alike.
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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.

MSFT

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When you hit 40, the temptation to upgrade your lifestyle can be strong, especially if you've worked hard and saved well. However, according to personal finance expert <a href="https://www.benzinga.com/personal-finance/24/10/41125098/suze-orman-says-the-personal-finance-of-americans-is-really-really-bad-even-though-the-stock-mar">Suze Orman</a>, a swankier apartment in a prime city could be more of a financial burden than a reward – especially if your job situation is unstable.
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In a recent episode of her Women &amp; Money podcast, a listener posed a question many can relate to: She's 40, presumably owns her home outright, and has saved a significant portion of her net worth in cash. With relatively low expenses and the safety net of living with her parents if necessary, she's considering upgrading to a nicer apartment in the city, using her cash reserves or taking out a small loan. The problem? Her job is unstable, and she knows she might have to retire early.
Orman's response? A firm &#8220;no.&#8221;
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At first glance, upgrading to a nicer place may seem easy, but Orman warns that it could lead to more financial stress in the long run. She explains that moving to a swankier apartment means more than a bigger space. &#8220;More expenses, more taxes, more everything,&#8221; she says. If your job is shaky, you should focus on accumulating cash, not depleting it.
Her co-host KT quickly jumped in, agreeing with Orman's assessment. &#8220;Why would you do that? I would never do that if I had an unstable job and (was) 40 years old,&#8221; she said. &#8220;I&#8217;d want to accumulate as much cash as possible so then I'd feel free.&#8221;
See Also: The average American couple has saved this much money for retirement —<a href="http://www.benzinga.com/money/smartasset"> How do you compare</a>?
For Orman, the decision is simple: at 40, you should still be focused on <a href="https://www.benzinga.com/personal-finance/24/07/39800314/are-you-rich-enough-to-join-the-top-5-of-households-you-may-be-wealthier-than-you-realize">building wealth</a>. &#8220;These are your compounding years,&#8221; she reminds listeners. She suggests investing in your future rather than spending money on a luxury apartment. The more you can save and invest now, the better off you'll be when it comes time to retire.
Orman also stated that the listener's logic is flawed regarding interest rates and cash reserves. The listener mentioned that by liquidating her assets and putting them in a bank with 3% interest, she could generate enough income to cover twice her parents' monthly expenses. However, Orman warns that assuming a steady 3% interest rate is risky.
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&#8220;How do you know what interest rates are going to be?&#8221; she asks. Orman states that if this listener had made a similar decision in 2007 before the <a href="https://www.benzinga.com/markets/24/10/41145356/billionaire-who-predicted-2008-crash-and-dot-com-bubble-calls-the-current-economy-the-most-vulnerabl">financial crisis</a>, she could have faced significant losses.
So, what's the solution for someone longing for a more vibrant, city-centered lifestyle? Orman suggests enjoying the best of both worlds without making a financial commitment that could backfire.&nbsp;
&#8220;If you want a swankier lifestyle, go there for the weekend and come back,&#8221; she advises. Renting a place for short visits allows you to experience the excitement of the city without the long-term financial strain of owning an expensive downtown apartment.
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Orman's advice is this: prioritize <a href="https://www.benzinga.com/personal-finance/24/09/40764819/think-youre-financially-secure-heres-how-much-people-say-it-takes-to-feel-secure-and-what-you-re">financial security</a>, especially when you're in an uncertain job situation. &#8220;At 40, if you lose your job, you get another job,&#8221; she says. But until you're in a more stable position, stick with the home you own outright, keep saving and investing, and leave the luxury upgrades for another time.
Are you in a similar position and considering upgrading your home to enjoy a better lifestyle? Then you may consider talking with a <a href="https://www.benzinga.com/money/best-online-financial-advisors">financial advisor</a>. They can help you navigate your finances and determine the best route that aligns with your long-term financial goals.&nbsp;
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'More Expenses, More Taxes, More Everything': Suze Orman On The Risks Of Upgrading To A Swanky Apartment At 40

Electric-vehicle stocks had a down week amid stock market volatility, but China-based companies rode the momentum imparted by the stimulus measures announced by the country to kickstart economic growth. Market leader Tesla, Inc.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) rally stalled as traders did not take kindly to <a href="https://www.benzinga.com/news/24/10/41141444/tesla-stock-plunges-3-despite-q3-deliveries-exceeding-consensus-and-growing-year-over-year">third-quarter deliveries just about managing to beat the consensus estimate</a>.
Here&#8217;s a rundown on what happened in the EV space during the week:
Tesla Q3 Deliveries Beat And More: After two straight quarters of sales decline, Tesla turned things around in the September quarter. The company delivered 462,890 EVs in the third quarter, ahead of the company-compiled consensus estimate of 461,978 units. The quarterly number marked a 6.40% year-over-year increase and a 4.26% sequential rise. The stock fell 3.49% following the report and came under further pressure over the next two sessions before trimming the losses on Friday. 
The negative reaction may be due to the small sales beat or possibly due to the typical &#8220;buy the rumor, sell the news&#8221; phenomenon. The stock had ran up appreciably in the run-up to the deliveries report.
With the deliveries report now in the rearview mirror, investors have begun to shift their focus to the Oct. 10 Robotaxi event. Most sell-side analysts, especially the bulls, and the Tesla community is excited about the event, which is scheduled to be held at the Warner Bros. studio in Los Angeles after the market close. 
Offering his take on the event, Wedbush analyst Daniel Ives said, &#8220;We believe Robotaxi Day will be seminal and historical day for Musk and Tesla and marks a new chapter of growth around autonomous, FSD, and AI future at Tesla.&#8221; The analyst expects updates on Cybercab scaling, overall cost per mile, a Tesla ride-share app, and a Generation 1 demo on premises of the breakthrough technology designed to revolutionize urban transportation. Morgan Stanley analyst Adam Jonas expects robotaxis to have disruptive potential but believes the benefit will seep in only in the mid- to long-term.
Rivian Sales Miss Forecast: EV startup Rivian Automotive, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>) handed down its investors a double disappointment. The company&#8217;s third-quarter deliveries came in at 10,018 units, missing the consensus estimate of most analysts. The company cut its production outlook for the year from 57,000 units to 47,000-49,000 units, citing supply shortage, while it reaffirmed its annual deliveries goal of 50,500 to 52,000&nbsp;units.
Separately, Reuters reported that the company has applied for a federal loan to facilitate construction of its Georgia facility, which was stalled earlier this year due to the company&#8217;s focus on speeding up next-gen R2 EV production and to conserve cash. The report said the department hasn&#8217;t made a final decision on the filing. The filing did not disclose the requested amount or terms. 
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Nikola Reports Strong Deliveries: Shares of hydrogen- and fuel-cell vehicles manufacturer Nikola Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NKLA#NASDAQ">NKLA</a>) jumped about 20% on Wednesday after the company said it wholesaled 88 Class 8 hydrogen fuel-cell trucks in the third quarter. &#8220;This is a record sales quarter for Nikola, with 88 hydrogen fuel cell electric trucks wholesaled to our dealers for end customers, as well as the addition of a first-ever&nbsp;U.S. dealer-based HYLA modular refueling station,&#8221; said Nikola CEO Steve Girsky.
The company has delivered 200 trucks so far this year compared to its full-year guidance of 300-350 trucks.
Chevy EVs Lifts GM&#8217;s Sales: Legacy automakers General Motors Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) and Ford Motor Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) presented a contrasting picture with respect to their EV sales. While GM&#8217;s EV sales spiked 60% to 32,095 units in the third quarter, thanks to the strong uptake of its Chevrolet Equinox EV and Chevrolet Blazer EV. On the other hand, crosstown rival Ford&#8217;s climbed a more modest 12% to 23,509 EVs. Blue Oval&#8217;s hybrid vehicle sales, however, were more than three times as much.
Nio To Expand Global Footprint: China&#8217;s Nio, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NIO#NYSE">NIO</a>) announced late Friday that it has tied up with Abu Dhabi-based&nbsp;CYVN Holdings&nbsp;to <a href="https://www.benzinga.com/markets/equities/24/10/41195060/tesla-rival-nio-accelerates-global-expansion-to-launch-evs-in-middle-east-amid-eu-tariff-concern">launch the Nio MENA to launch Nio-branded vehicles and vehicles from its subsidiary</a> in the Middle East and North Africa. This will expand its footprint and integrate further into the &#8220;global smart EV ecosystem,&#8221; the Shanghai-based company said in a statement.
CYVN Holdings, which made an investment in Nio earlier this year, will support the company with strategic investments for the expansion. 
The KraneShares Electric Vehicles and Future Mobility&nbsp;Index ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KARS#NYSE">KARS</a>) rose 3.08% on Friday before ending at $23.77, according to <a href="https://benzinga.grsm.io/lxquj26b2sag">Benzinga Pro data</a>. For the week, the ETF raced 5.60% higher.
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="http://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
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</ul>

Here&#8217;s how the EV stocks fared this week:
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td></td>
<td>Weekly Change (+/-)</td>
</tr>
<tr>
<td>Tesla</td>
<td>-3.99%</td>
</tr>
<tr>
<td>Nio</td>
<td>+3.83%</td>
</tr>
<tr>
<td>XPeng, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPEV#NYSE">XPEV</a>)</td>
<td>+0.71%</td>
</tr>
<tr>
<td>Li Auto, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LI#NASDAQ">LI</a>)</td>
<td>+13.58%</td>
</tr>
<tr>
<td>Workhorse, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WKHS#NASDAQ">WKHS</a>)</td>
<td>-14.69%</td>
</tr>
<tr>
<td>Hyzon Motors, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HYZN#NASDAQ">HYZN</a>)</td>
<td>-14.18%</td>
</tr>
<tr>
<td>Canoo</td>
<td>-7.70%</td>
</tr>
<tr>
<td>Rivian </td>
<td>-10.00%</td>
</tr>
<tr>
<td>Lucid Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LCID#NASDAQ">LCID</a>)</td>
<td>-6.96%</td>
</tr>
<tr>
<td>Faraday Future </td>
<td>-2.88%</td>
</tr>
<tr>
<td>Nikola Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NKLA#NASDAQ">NKLA</a>)</td>
<td>+17.25%</td>
</tr>
<tr>
<td>VinFast Auto Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VFS#NASDAQ">VFS</a>)</td>
<td>-2.81%</td>
</tr>
</tbody>
</table>
</figure>

Analyst Color

HYZN

KARS

LCID

NKLA

RIVN

TSLA

WKHS

XPEV

Tesla Robotaxi Buzz Soars Ahead Of Thursday Event, Rivian Seeks DOE Loan For Georgia Plant, Nikola Thumps Estimates And More: Biggest EV Stories Of The Week

A new Benzinga poll pitted Warren Buffett, Elon Musk, and other renowned investors against each other, asking readers to decide who they would trust to turn $1,000 into $100,000 the fastest based on their past <a href="https://www.benzinga.com/top-stories/24/08/40604676/warren-buffetts-berkshire-hathaway-breaks-1-trillion-poll-points-to-big-pharma-not-tech-as-next-cont">and current investment track </a>records.
What Happened: Elon Musk has helped transform SpaceX and Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) into<a href="https://www.benzinga.com/general/education/24/06/39547388/happy-birthday-elon-musk-53-facts-and-figures-about-tesla-spacex-ceo-on-his-53rd-birthday"> two of the most valuable companies</a> in the world, which might explain why investors continue to believe in his companies and future growth initiatives.
This might also explain why Musk won a recent Benzinga reader poll.
"If you gave them $1,000, who could turn it into $100,000 the fastest?" Benzinga asked.
Here were the results:
<ul>
<li>Elon Musk: 42%</li>
<li>Warren Buffett: 25%</li>
<li>Mark Cuban: 19%</li>
<li>Peter Thiel: 15%</li>
</ul>
The poll found that Musk was the pick for investors to give $1,000 to and turn it into $100,000 the quickest. Buffett ranked a distant second at 25% of the vote.
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</ul>
Why It's Important: The results come as Tesla is one of the top-performing stocks of the last five years, up 1,520.7%. The stock is also up 1,459.9% over the previous 10 years.
Berkshire Hathaway Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) stock has increased by 122% over the last five years and 233.9% over the last 10 years. While Berkshire Hathaway stock has trailed Tesla&#8217;s performance in recent years, the company and Buffett have a<a href="https://www.benzinga.com/top-stories/24/08/40604676/warren-buffetts-berkshire-hathaway-breaks-1-trillion-poll-points-to-big-pharma-not-tech-as-next-cont"> long history of beating </a>the S&amp;P 500.
Musk has also proven successful with his SpaceX company, valued at<a href="https://www.benzinga.com/news/24/06/39516906/elon-musks-spacex-set-for-record-210b-valuation-in-tender-offer-but-still-valued-less-than-tiktok-re"> a reported $210 billion</a> earlier this year.
Being the world's richest person likely strengthens Musk's appeal as the investor people would trust to generate the highest returns on their money.
Of course, Musk did pay $44 billion for Twitter, now known as X, and most valuation metrics, like Fidelity's for a mutual fund, point to a lower valuation, <a href="https://www.benzinga.com/news/24/10/41142828/elon-musk-bought-x-for-44b-now-fidelity-values-social-media-network-below-10b">like $9.4 billion.</a>
Thiel has been successful with connections to PayPal, Palantir and Founders Fund and was also the first outside investor for Facebook.
Cuban has been successful selling businesses, investing in businesses on Shark Tank, buying the NBA's Dallas Mavericks and recently selling a stake for a nice return on investment.
The poll contrasts with one <a href="https://www.benzinga.com/top-stories/24/08/40423891/buffett-musk-wood-cuban-or-ackman-who-do-investors-trust-most-with-life-savings-poll-shows-it-isnt-e">conducted in August</a>, where investors were asked who they would trust with their life savings. In that survey, Buffett secured 58% of the vote, while Musk and Cuban tied for second place, each receiving 11%.
The results of the two polls may show that investors are more likely to invest a smaller amount in Musk as a high-risk/high-return play, but if it comes to investing their life savings, they prefer the safety and long-running history of market-beating returns from Buffett.
The study was conducted by Benzinga from Sept. 30 through Oct. 2, 2024, and included the responses of a diverse population of adults 18 or older. Opting into the survey was completely voluntary, with no incentives offered to potential respondents. The study reflects results from 130 adults.
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Image created using artificial intelligence via Midjourney.

Exclusives

Trading Ideas

Musk vs. Buffett: Which Investor Do Benzinga Readers Trust To Turn $1,000 Into $100,000 Faster?

Billionaire entrepreneur <a href="https://www.benzinga.com/topic/mark-cuban">Mark Cuban</a> has never been one to stay quiet, especially regarding the U.S. Securities and Exchange Commission (SEC). Recently, Cuban made waves by saying he'd gladly take over the role of SEC Chair from Gary Gensler.&nbsp;
His reason? Cuban simply wants to shake things up and isn't a fan of how Gensler handles the job, particularly when it comes to regulating cryptocurrencies. &#8220;Head of the SEC. That&#8217;s the job I would take,&#8221; <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/41046084/mark-cuban-as-treasury-secretary-no-head-of-the-sec-is-the-job-hed-take-because-gary-gensl">Cuban said bluntly</a>.
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However, Cuban explained in a recent <a href="https://www.youtube.com/watch?v=RhkQQn6ahsk">podcast</a> that he wasn&#8217;t genuinely serious about the position and that his statement was mostly to express his displeasure with Gensler&#8217;s leadership. &#8220;I put that out there on the SEC because I wanted to f&#x2A;&#x2A;&#x2A; with Gary Gensler,&#8221; Cuban remarked, sending shock waves through the business world as many thought he was serious about his SEC ambitions.
&#8220;You&#8217;re not going to see me in politics,&#8221; he added, emphasizing that his focus remains on his businesses, not government roles – &#8220;when it&#8217;s all said and done, costplusdrugs.com that&#8217;s hopefully going to be my legacy.&#8221;
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Cuban has been vocal about his dislike for how the SEC operates, especially regarding cryptocurrency regulation. He thinks the SEC's policies under Gary Gensler are "awful" and hold back innovation in industries like crypto. In Cuban's view, the SEC seems more interested in winning legal battles than protecting regular investors.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">If <a href="https://twitter.com/JoeBiden?ref_src=twsrc%5Etfw">@joebiden</a> loses, there is a good chance you will be able to thank <a href="https://twitter.com/GaryGensler?ref_src=twsrc%5Etfw">@GaryGensler</a> and the <a href="https://twitter.com/NewYork_SEC?ref_src=twsrc%5Etfw">@NewYork_SEC</a> Crypto is a mainstay with younger and independent voters. Gensler HAS NOT PROTECTED A SINGLE INVESTOR AGAINST FRAUD All he has done is make it nearly impossible for… <a href="https://t.co/uBKupxLhS9">https://t.co/uBKupxLhS9</a>
&mdash; Mark Cuban (@mcuban) <a href="https://twitter.com/mcuban/status/1789037772050702824?ref_src=twsrc%5Etfw">May 10, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
<a href="https://www.benzinga.com/personal-finance/24/08/40626939/mark-cuban-slams-the-sec-for-being-a-mess-and-only-caring-about-wall-street-i-wouldnt-trust-them">During a Reddit AMA in 2021</a>, Cuban called the SEC a "mess" and accused the agency of working more for Wall Street than the average person, saying, &#8220;The SEC is a mess. I wouldn&#8217;t trust them to do the right thing ever. It&#8217;s an agency built by and for lawyers to be lawyers and win cases rather than do the right thing.&#8221;
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As Cuban backtracked on his SEC role comments, he reiterated that his focus remains on business ventures like Cost Plus Drugs, an online pharmacy he's passionate about. Cuban sees his legacy more in disrupting the health care industry for the better, stating, &#8220;I screwed up the entire health care system for the better so that everybody could start affording their health care and their medications."
Still, his dissatisfaction with the SEC is clear, and his feud with Gensler reflects his broader frustration with the agency's approach. Cuban has also <a href="https://www.benzinga.com/startups/24/09/40855223/mark-cuban-praises-kamala-harris-support-for-business-is-her-new-tax-plan-a-game-changer">praised Vice President Kamala Harris</a> for her stance on emerging technologies, contrasting it sharply with Gensler's leadership. He sees Harris as thorough and open-minded, which led him to <a href="https://www.benzinga.com/general/entertainment/24/09/41052701/mark-cuban-compares-kamala-harris-rise-in-2024-election-polls-betting-odds-to-new-ceo-that-">publicly support her in the 2024 election</a>.
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Startups

'I Wanted To F*** With Gary Gensler,' Says Mark Cuban About His SEC Head Aspirations – 'You're Not Going To See Me In Politics'

Facebook and Meta founder Mark Zuckerberg is exploring the idea of selling his own range of Classics-inspired graphic T-shirts, with Meta&#8217;s Instagram being a <a href="https://www.benzinga.com/news/24/09/41079963/decoding-zuckerbergs-efficiency-mantra-a-wifi-password-speaks-volumes">potential sales platform</a>.
What Happened: Zuckerberg&#8217;s sartorial preferences have been in the spotlight since 2023. He is now mulling over the possibility of making his new attire available for purchase on Instagram.
In a conversation with Pubity, Zuckerberg disclosed that he&#8217;s been toying with the idea of selling t-shirts akin to the ones he&#8217;s been donning recently, which are influenced by Greek and Roman history. 
He sported a black t-shirt with the Latin phrase &#8220;Aut Zuck aut nihil&#8221; at the Meta Connect keynote on September 25, which means &#8220;Zuck or nothing,&#8221; <a href="https://www.businessinsider.in/tech/news/mark-zuckerberg-is-leaning-into-his-fashion-era-and-considering-selling-classics-inspired-t-shirts/articleshow/113949749.cms">reports</a> Business Insider.
&#8220;I&#8217;ve been playing around with the idea of whether I should sell these on my Instagram page as, like, limited drops,&#8221; Zuckerberg told the outlet. 
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This initiative would also provide him with the opportunity to test Instagram&#8217;s shopping feature as a seller and gain firsthand knowledge of how businesses utilize the platform.
Zuckerberg is said to be collaborating with fashion designer Mike Amiri to create his own clothing line, although it remains uncertain if these designs will be accessible to the public.
Why It Matters: Zuckerberg&#8217;s move to sell his own clothing line on Instagram could potentially boost the platform&#8217;s shopping feature, providing a real-world example of its use by high-profile individuals. 
This could inspire other businesses to leverage the platform for their sales, leading to increased usage and revenue for Instagram. 
Furthermore, it would provide Zuckerberg with valuable insights into the user experience of Instagram&#8217;s shopping feature, which could inform future improvements and enhancements.
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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.

From Tech To Tees: Meta's Zuckerberg May Launching Clothing Line On Instagram

Silicon Valley billionaire and venture capitalist <a href="https://www.benzinga.com/news/24/09/41086806/elon-musk-mocks-vinod-khosla-after-openai-investor-mixes-up-argentinas-poverty-and-unemployment-rate">Vinod Khosla</a> has issued a bold prediction: artificial intelligence (AI) will replace most human jobs over the next 25 years.&nbsp;
In a recent blog post, Khosla wrote about the implications of AI and warned that "80% of 80% of all jobs, maybe more, can be done by AI, be it primary care doctors, psychiatrists, sales people, oncologists, farmworkers or assembly line workers, structural engineers, chip designers, you name it."
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Khosla's experience gives weight to his predictions. He cofounded Sun Microsystems and has invested heavily in tech giants like Amazon, Google and <a href="https://www.benzinga.com/news/24/09/41078513/openai-plans-to-more-than-double-chatgpt-price-over-next-5-years-report">OpenAI</a>. He has also spent over four decades studying disruptive technology and believes that AI will do most jobs "better, faster and cheaper" than humans, drastically changing the labor market.&nbsp;
<h2 class="wp-block-heading">A World Without Jobs</h2>
According to his blog, Khosla says that AI will create a world where human labor isn't necessary for most tasks. It can assist with and perform tasks like assembly line work, investment banking and even medical diagnosis.&nbsp;
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The warnings Khosla discusses surrounding AI aren't meant to spread fear but to advocate for proactive solutions as our world heads in this direction. He talks about the risk of an "economic dystopia," where wealth becomes increasingly concentrated at the top – more so than it is now – and both intellectual and physical labor lose their value.&nbsp;
Khosla states that if governments don't proactively identify this problem and devise solutions for AI taking over jobs, millions could face <a href="https://www.benzinga.com/markets/equities/24/09/40760261/biden-administration-says-unemployment-is-low-but-do-americans-see-it-that-way">unemployment</a>.&nbsp;
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<h2 class="wp-block-heading">The Case for Universal Basic Income (UBI)</h2>
According to Khosla, universal basic income (UBI) is one solution to the looming AI job crisis. UBI is a government program that regularly provides every adult citizen with a set amount of money to help alleviate poverty.&nbsp;
Khosla believes that UBI will become essential as AI replaces jobs. It can provide a safety net for those whose jobs become automated. "As AI reduces the need for human labor, UBI could become crucial, with governments playing a key role in regulating AI's impact and ensuring equitable wealth distribution," he wrote.
The concept of UBI isn't new, but it has gained renewed attention as automation accelerates. Khosla joins a growing list of Silicon Valley figures, including Sam Altman and Mark Zuckerberg, who advocate for UBI to cushion the economic disruption caused by AI.
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<h2 class="wp-block-heading">A Shorter Workweek and More Meaningful Life</h2>
While Khosla spoke about AI&#8217;s challenges, he also presented several upsides, one of which is a shorter workweek. He envisions a world where AI handles mundane, labor-intensive jobs, freeing people up to take on more fulfilling activities. He believes that with the right policies, AI could bring about a three-day workweek, where people can focus more on hobbies, spend time with loved ones and enjoy life more.&nbsp;
"Life won't become less meaningful once we eradicate undesirable, toil-intensive jobs," he wrote. "Quite the opposite – life will become more meaningful as the need to work 40 hours per week could disappear within a few decades for those countries that adapt to these technologies."
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<h2 class="wp-block-heading">The Debate Continues</h2>
Many other prominent tech figures have made predictions about AI that align closely with Khosla's vision. <a href="https://www.benzinga.com/personal-finance/24/10/41145078/billionaire-bill-gates-has-a-bold-plan-to-shrink-the-wealth-of-the-rich-heres-how-he-intends-to-">Bill Gates</a> has also suggested that AI will lead to a three-day workweek. Elon Musk has gone further, predicting that work could become more of a "hobby" as AI handles the heavy lifting.
Despite these predictions, history has shown that technological advancements don't always mean less work. Economist John Maynard Keynes famously predicted in 1930 that people would be working only 15 hours per week in a century, thanks to improvements in productivity. As 2030 approaches, many people still engage in 40-hour workweeks, often more.
AI will continue to advance, and the future of work will change. An AI-driven economy may be inevitable, but how we handle this societal shift will determine whether these changes lead to widespread prosperity or deeper inequality.&nbsp;
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AI Will Do Most Jobs 'Better, Faster, Cheaper': Silicon Valley Billionaire Vinod Khosla Calls For Universal Basic Income

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Cloud computing ETFs are attractive investments now due to the rapid growth and digital transformation of the cloud market. With global spending on cloud services expected to surge and advancements in AI driving demand, these ETFs offer substantial growth opportunities. Hence, investors should consider buying strong cloud computing ETFs, such as iShares Future Cloud 5G and Tech (IDAT) and First Trust Cloud Computing (SKYY). Keep reading... Cloud computing ETFs target companies leading the digital revolution by providing essential cloud services such as infrastructure, software, and platforms. As digital transformation accelerates, these ETFs offer investors opportunities for significant growth and innovation, capitalizing on the expanding cloud market.
Therefore, investors might consider investing in fundamentally strong cloud computing ETFs, such as iShares Future Cloud 5G and Tech ETF (<a href="https://stocknews.com/stock/IDAT/">IDAT</a>) and First Trust Cloud Computing ETF (<a href="https://stocknews.com/stock/SKYY/">SKYY</a>).
The cloud computing market is shaped by rapid digital transformation, with businesses increasingly adopting cloud tech to enhance scalability, flexibility, and cost-efficiency. This shift boosts demand for tech such as SaaS, serverless computing, and private clouds to effectively manage these evolving environments.
Furthermore, global spending on public cloud services is projected to <a href="https://www.gartner.com/en/newsroom/press-releases/2024-05-20-gartner-forecasts-worldwide-public-cloud-end-user-spending-to-surpass-675-billion-in-2024#:~:text=Worldwide%20end%2Duser%20spending%20on,(GenAI)%20and%20application%20modernization.">surge by 20.4%</a>, reaching $675.40 billion in 2024. This impressive growth is driven by advancements in generative AI and application modernization. Consequently, cloud computing ETFs offer investors a valuable opportunity to benefit from the expanding cloud industry, capturing the potential of this dynamic sector.
Given this favorable backdrop, let's evaluate the two <a href="https://stocknews.com/category/technology-equities-etfs/">Technology Equities ETFs</a> picks, starting with number two.
ETF #2: iShares Future Cloud 5G and Tech ETF (<a href="https://stocknews.com/stock/IDAT/">IDAT</a>)
IDAT is an exchange-traded fund launched by BlackRock, Inc. and managed by BlackRock Fund Advisors. The fund invests in public equity markets, focusing on companies operating in information technology, and those related to cloud computing and 5G sectors. It invests in both growth and value stocks across diversified market capitalizations. The fund seeks to track the performance of the Morningstar Global Digital Infrastructure &amp; Connectivity Index using a representative sampling technique.
With $7.10 million in assets under management (AUM), IDAT's top holding is NVIDIA Corporation (<a href="https://stocknews.com/stock/NVDA/">NVDA</a>) with a 5.18% weighting, followed by Broadcom Inc. (<a href="https://stocknews.com/stock/AVGO/">AVGO</a>), with a 3.79% weighting, and Arista Networks, Inc. (<a href="https://stocknews.com/stock/ANET/">ANET</a>), with 3.39%. It has a total of 49 holdings.
It has an expense ratio of 0.47%, lower than the category average of 0.58%. It currently has a <a href="https://www.investopedia.com/terms/n/nav.asp">NAV</a> of $29.19.
The fund's annual dividend of $0.25 yields 0.85% on the current share price. Its four-year average yield is 0.62%.
IDAT has gained 13.3% over the past nine months and 5.6% year-to-date to close the last trading session at $29.12.
IDAT's <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a> reflect this promising outlook. The ETF's overall B rating equates to a Buy in our proprietary rating system. The POWR Ratings are calculated by considering 118 different factors, each weighted to an optimal degree.
IDAT has a B grade for Buy &amp; Hold and Trade. Of the 119 ETFs in the <a href="https://stocknews.com/category/technology-equities-etfs/">Technology Equities ETFs</a> group, it is ranked #47. <a href="https://stocknews.com/stock/IDAT/">Click here</a> to access all of IDAT's POWR Ratings.
ETF #1: First Trust Cloud Computing ETF (<a href="https://stocknews.com/stock/SKYY/">SKYY</a>)
SKYY is an exchange-traded fund launched and managed by First Trust Advisors LP. The fund invests in public equity markets, targeting companies in information technology, software, IT and internet services, infrastructure, data management, storage, hardware, and platforms for software creation via virtualization or middleware delivered online. It invests in both growth and value stocks across diversified market capitalizations and seeks to track the performance of the ISE CTA Cloud Computing Index using a full replication technique.
With $2.87 billion in AUM, the fund has a total of 64 holdings. SKYY's top holding is Oracle Corporation (<a href="https://stocknews.com/stock/ORCL/">ORCL</a>) with a 4.57% weighting, followed by International Business Machines Corporation (<a href="https://stocknews.com/stock/IBM/">IBM</a>) with a 4.56% weighting, and Nutanix, Inc. Class A (<a href="https://stocknews.com/stock/NTNX/">NTNX</a>) with 4.27%.
SKYY has an expense ratio of 0.60%, higher than the category average of 0.58%. It currently has a NAV of $94.54. Its fund outflows came in at $38.02 million over the past month.
SKYY has gained 13.5% over the past nine months and 16.9% over the past year to close the last trading session at $94.58.
SKYY's strong outlook is reflected in its POWR Ratings. The ETF has an overall rating of A, translating to a Strong Buy in our proprietary rating system.
It has an A grade for Buy &amp; Hold, Peer, and Trade. It is ranked #4 in the same group. To access all the POWR Ratings for SKYY, <a href="https://stocknews.com/stock/SKYY/">click here</a>.
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<hr />
SKYY shares were trading at $95.91 per share on Wednesday afternoon, up $1.33 (+1.41%). Year-to-date, SKYY has gained 9.40%, versus a 16.49% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Abhishek Bhuyan</h2> <img src='https:/wp-content/uploads/2023/07/ABhuyan.jpg' style="float:left; padding:5px;width:125px;">Abhishek embarked on his professional journey as a financial journalist due to his keen interest in discerning the fundamental factors that influence the future performance of financial instruments.<a href="https://stocknews.com/authors/?author=abhishek-bhuyan">More...</a>The post <a href=https://stocknews.com/news/skyy-idat-2-cloud-computing-etfs-to-buy-as-digital-transformation-accelerates/>2 Cloud Computing ETFs to Buy as Digital Transformation Accelerates</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

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