Mingteng International 株価情報 (NASDAQ: MTEN)

最新ニュース Mingteng International (NASDAQ:MTEN) 株価情報

Mingteng International

Mingteng International Corp Inc operates as an automotive mold developer and supplier in China. It provides a wide range of products including casting molds for turbocharger systems, braking systems, steering and differential systems, and other automotive system parts. Besides, it also produces molds for new energy electric vehicle motor drive systems, battery pack systems, and engineering hydraulic components, which are widely used in automobile, construction machinery, and other manufacturing industries.

Mingteng International Corporation Inc. - Ordinary Shares

Mingteng International Corp Inc

Wedbush Securities analyst Dan Ives predicts Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) could see significant gains under a potential second Donald Trump presidency, particularly in advancing its Full Self-Driving technology.
What Happened: Ives suggested Trump&#8217;s return to office could accelerate Tesla&#8217;s autonomous driving initiatives, in a Bloomberg TV interview, potentially unlocking what he <a href="https://www.benzinga.com/markets/equities/24/11/41794926/trump-white-house-could-unlock-trillion-dollar-ai-potential-for-tesla-says-dan-ives">estimates as $1 trillion in value</a>.
&#8220;Tesla and [Elon] Musk are the big winners in this Trump sweepstakes,&#8221; Ives said, pointing to possible regulatory fast-tracking of autonomous vehicle technology. He projects the deployment of &#8220;cyber cabs&#8221; could come as early as 2026 or 2027.
The analyst also indicated that a Trump presidency might lead to leadership changes at the Federal Trade Commission, noting that current FTC Chair Lina Khan&#8216;s potential departure could benefit big tech companies&#8217; merger and acquisition activities.
<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">Great to be on <a href="https://twitter.com/BloombergTV?ref_src=twsrc%5Etfw">@BloombergTV</a> with <a href="https://twitter.com/EdLudlow?ref_src=twsrc%5Etfw">@EdLudlow</a> <a href="https://twitter.com/CarolineHydeTV?ref_src=twsrc%5Etfw">@CarolineHydeTV</a> discussing Musk's major strategic bet on Trump and why this is very good news for Tesla looking forward <a href="https://twitter.com/business?ref_src=twsrc%5Etfw">@business</a> &#x1f525;&#x1f3c6;&#x1f402;&#x1f37f;&#x1f4fa;&#x1f447; <a href="https://t.co/zcR7YIc9C1">https://t.co/zcR7YIc9C1</a>
&mdash; Dan Ives (@DivesTech) <a href="https://twitter.com/DivesTech/status/1854650365095936398?ref_src=twsrc%5Etfw">November 7, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/news/large-cap/24/11/41826586/wall-street-closes-at-record-highs-after-reassurance-from-powell-magnificent-7-hit-17-trillion-tre">Wall Street Hits Record Highs After Powell&#8217;s Speech, Lifts Magnificent 7 Stocks To $17 Trillion In Historic Trading</a>
Why It Matters: Meanwhile, the stock market has also reacted positively to Trump&#8217;s victory, with Jim Cramer <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41798981/jim-cramer-calls-trumps-return-to-white-house-a-huge-win-for-the-stock-market">calling it a &#8216;huge win for the stock market&#8217;</a>. The conclusion of the election has brought relief to traders, who are now preparing for a Trump administration and its anticipated pro-business policies.
Price Action: Tesla&#8217;s stock closed at $296.91 on Thursday, up 2.9% for the day. In after-hours trading, it rose an additional 0.66%. Year-to-date, Tesla&#8217;s stock has climbed by 19.52%, according to <a href="https://www.benzinga.com/pro/">data from Benzinga Pro</a>.
Read Next: 
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<li><a href="https://www.benzinga.com/news/earnings/24/11/41825787/rivian-q3-earnings-highlights-revenue-eps-miss-ceo-confident-in-q4-gross-profit-r2-being-fundamenta">Rivian Q3 Earnings Highlights: Revenue, EPS Miss, CEO Confident In Q4 Gross Profit, R2 Being &#8216;Fundamental Driver&#8217; Of Growth</a></li>
</ul>
Image Via Shutterstock 
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Equities

News

Markets

TSLA

Elon Musk Shines In 'Trump Sweepstakes:' A Big Win For Tesla? Dan Ives Thinks So

Detroit is set to become the first major U.S. city to accept cryptocurrency for taxes and other city fees, top officials from the city said in a Thursday press release.
What Happened: Residents would have the option to use cryptocurrencies to pay for utilities through a secure platform managed by PayPal. This initiative was part of a broader strategy to tap blockchain technology to enhance public services and boost civic engagement in the city.
&#8220;Detroit is fostering a technology-friendly environment that empowers residents and entrepreneurs,&#8221; said Detroit Mayor Mike Duggan. &#8220;We are thrilled to be among the first major U.S. cities to explore blockchain&#8217;s civic applications and offer residents the option to use cryptocurrency for payments.&#8221;
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41821360/can-blockchain-improve-cross-border-payments-without-regulatory-roadblocks">Can Blockchain Improve Cross-Border Payments Without Regulatory Roadblocks?</a>
The new payment option is projected to be available by mid-2025, Treasurer Nikhil Patel added. The city would also encourage blockchain innovators to propose their ideas for civic applications to Justin Onwenu, Detroit's first Director of Entrepreneurship and Economic Opportunity.
Williston in North Dakota and Miami Lakes in Florida are the cities that accept cryptocurrencies for utility bill payments, while <a href="https://www.benzinga.com/markets/cryptocurrency/22/03/26357488/in-colorado-you-can-pay-taxes-in-crypto-will-other-states-follow">Colorado </a>and Utah allow their residents to pay state taxes using digital assets.
Why It Matters: Detroit&#8217;s move to accept cryptocurrency payments aligns with the state of Michigan&#8217;s growing interest in cryptocurrencies. 
According to a recent SEC filing, the <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41723555/michigan-pension-fund-invests-10m-in-ethereum-etfs-exceeds-bitcoin-holdings">Michigan State Pension Fund invested $10 million</a> in Grayscale Ethereum Trust ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ETHE#NYSE">ETHE</a>), the largest Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) exchange-traded fund (ETF) as of this writing.
In doing so, it surpassed its $7 million allocation in Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) ETFs. 
Earlier in May, the <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/39006923/university-of-michigan-endowment-increases-its-crypto-investments-follows-harvard-and-yale">University of Michigan&#8217;s endowment increased its investments in cryptocurrency</a>, following the footsteps of Harvard and Yale. The university invested in a crypto fund from Andreessen Horowitz, indicating a growing acceptance of digital currencies among large funds and endowments.
Photo: Linda Parton/Shutterstock.com
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41823388/the-trump-effect-a-deep-dive-into-how-the-crypto-landscape-will-change-in-2025-and-beyond">The Trump Effect: A Deep Dive Into How The Crypto Landscape Will Change In 2025 And Beyond</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.<a href="https://www.benzinga.com/apis?utm_source=benzinga.com&amp;utm_campaign=article-bottom" rel="noreferrer noopener" target="_blank"></a>

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

Cryptocurrency

$BTC

$ETH

ETHE

Detroit Becomes First Major US City To Accept Taxes And Fees In Crypto; Mayor Says, 'Fostering a Technology-Friendly Environment'

Leading economists offered contrasting views on Thursday after the Federal Reserve&#8217;s 25-basis-point rate cut, with some warning of persistent inflation risks while others supported the <a href="https://www.benzinga.com/news/large-cap/24/11/41826586/wall-street-closes-at-record-highs-after-reassurance-from-powell-magnificent-7-hit-17-trillion-tre">central bank&#8217;s gradual easing approach</a>.
What Happened: Jason Furman, a key figure in 44th U.S. President Barack Obama&#8217;s administration expressed skepticism about the Fed&#8217;s balanced risk assessment, pointing to concerning inflation indicators. 
&#8220;Core PCE inflation is 2.7% (above target),&#8221; Furman noted on X, warning that inflation could climb to &#8220;2.8% or possibly even 2.9%.&#8221; He suggested this trend could complicate the Fed&#8217;s planned rate reduction schedule unless labor markets weaken significantly.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">In most predictable event of the week, the Fed cut by 25bp. Monetary policy is going from very contractionary to reasonably contractionary. Makes sense given that inflation risks much lower than before but are still (contra the committee statement) higher than recession risks.
&mdash; Jason Furman (@jasonfurman) <a href="https://twitter.com/jasonfurman/status/1854604354738913596?ref_src=twsrc%5Etfw">November 7, 2024</a></blockquote>
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Economist Peter Schiff delivered sharp criticism of Fed Chair Jerome Powell&#8216;s inflation-targeting strategy, citing structural challenges. 
&#8220;The Fed cut interest rates by 25 basis points, claiming they&#8217;re confident they&#8217;ll achieve their long-term inflation target of 2%,&#8221; Schiff wrote on X. &#8220;Powell can&#8217;t possibly believe that, considering a $36 trillion National Debt and the prospect of 2025 tax cuts sending demand and deficits soaring.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The <a href="https://twitter.com/hashtag/Fed?src=hash&amp;ref_src=twsrc%5Etfw">#Fed</a> cut interest rates by 25 basis points, claiming they're confident they&#39;ll achieve their long-term <a href="https://twitter.com/hashtag/inflation?src=hash&amp;ref_src=twsrc%5Etfw">#inflation</a> target of 2%. <a href="https://twitter.com/hashtag/Powell?src=hash&amp;ref_src=twsrc%5Etfw">#Powell</a> can't possibly believe that, considering a $36 trillion <a href="https://twitter.com/hashtag/NationalDebt?src=hash&amp;ref_src=twsrc%5Etfw">#NationalDebt</a> and the prospect of 2025 tax cuts sending demand and deficits soaring.
&mdash; Peter Schiff (@PeterSchiff) <a href="https://twitter.com/PeterSchiff/status/1854610617828884617?ref_src=twsrc%5Etfw">November 7, 2024</a></blockquote>
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Wells Fargo struck a more moderate tone, with strategist Luis Alvarado <a href="https://x.com/yahoofinance/status/1854542364607447185?s=46">telling</a> Yahoo Finance they expect &#8220;another [cut] in December,&#8221; while maintaining flexibility about 2025 policy adjustments.
Why It Matters: The Fed&#8217;s decision, which lowered rates to 4.5%-4.75%, came amid robust economic indicators including 2.8% second-quarter GDP growth. Powell dismissed October&#8217;s weak employment data as temporary, citing strikes and weather disruptions.
Markets responded modestly to the day&#8217;s events, with the U.S. Dollar Index dipping 0.07% to 104.44 and the 10-year Treasury yield inching up to 4.353%.
The SPDR S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) closed at $595.61, up 0.77%, with a modest after-hours increase of 0.02%. The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) finished at $236.38, down 0.35%, though it rose 0.15% in after-hours trading.
The S&amp;P 500 gained 0.74%, reaching a record high of 5,973.10, while the Nasdaq advanced 1.51% to 19,269.46, marking its first close above 19,000. The Dow Jones Industrial Average was largely unchanged, ticking down by less than one point to end at 43,729.34.
S&amp;P 500, Dow, and Nasdaq 100 futures were flat. On the currency front, the Japanese Yen held steady at $0.0065, while the Euro slipped by 0.11% to $1.0788.
Read Next: 
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<li><a href="https://www.benzinga.com/news/large-cap/24/11/41826586/wall-street-closes-at-record-highs-after-reassurance-from-powell-magnificent-7-hit-17-trillion-tre">Wall Street Hits Record Highs After Powell&#8217;s Speech, Lifts Magnificent 7 Stocks To $17 Trillion In Historic Trading</a></li>
</ul>
Federal Reserve illustration created using artificial intelligence via MidJourney.
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Economics

Federal Reserve

Obama-Era Economist Jason Furman Warns Fed's Inflation Outlook May Be Too Optimistic — Peter Schiff Slams Powell's Strategy Amid National Debt Concerns

On Thursday, Cathie Wood-led Ark Invest made significant trades, with Palantir Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>), Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), Reddit Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RDDT#NYSE">RDDT</a>), and Amazon.com, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) taking center stage.
The Palantir Trade
Ark Invest&#8217;s move to sell Palantir shares comes amid a tumultuous day for the company. <a href="https://www.benzinga.com/news/24/11/41808861/whats-going-on-with-palantir-stock-thursday">Palantir&#8217;s shares</a> experienced a rollercoaster ride, initially dipping due to a downgrade from Jefferies, only to bounce back following an announced partnership with Amazon Web Services (AWS) and Anthropic.
Despite Jefferies analyst Brent Thill downgrading Palantir from a Hold rating to an Underperform rating due to valuation concerns, the company&#8217;s stock has seen a surge of over 220% since the start of the year. This includes a 30% increase in just the past week, largely driven by strong quarterly results fueled by &#8220;unrelenting&#8221; AI demand.
Ark offloaded 264,513 Palantir shares on Thursday through its ARK Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKK#NYSE">ARKK</a>) and Ark Fintech Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKF#NYSE">ARKF</a>) funds, with the transaction valued at $14.8 million based on a closing share price of $55.88.
The Tesla Trade
Ark sold 85,019 shares of Elon Musk-led Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>). Wood has been on a Tesla share-selling spree of late. The latest transaction, which came through ARKK, was valued at $25.24 million.
Wood&#8217;s firm estimates that Tesla&#8217;s driverless ride-hailing service could <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41593922/cathie-woods-ark-invest-sees-tesla-unlocking-11-trillion-revenue-potential-with-rob">access an $11 trillion revenue</a> market by leveraging low operating costs to undercut existing ride-hailing prices. Tesla plans to debut this service next year in Texas and California, starting with drivers and aiming for fully autonomous rides as regulations allow.
The Reddit Trade
Ark Invest&#8217;s trade with Reddit comes at a time when the company is making significant strides in the social media space. Reddit&#8217;s market cap <a href="https://www.benzinga.com/general/social-media/24/11/41773982/reddit-overtakes-snap-in-market-value-after-election-day-rally">recently surpassed</a> that of Snap Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNAP#NYSE">SNAP</a>), reaching $21.5 billion after a 12% climb on Election Day. This is a notable achievement for the social media platform operator, which has a user base and revenue one-fourth the size of Snap&#8217;s.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41763537/bitcoin-hits-71k-ethereum-dogecoin-surge-as-results-trickle-in-for-trump-harris-presidenti?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin Hits $71K, Ethereum, Dogecoin Surge As Results Trickle In For Trump-Harris Presidential Battle: Analyst Predicts &#8216;Kickstart Of The Bull Market&#8217;</a>
Reddit&#8217;s growing popularity as a source of authentic information is also posing a challenge to Google&#8217;s dominance in the internet search market. This trend was highlighted at a recent conference hosted by The Wall Street Journal, where a journalist revealed she primarily uses Google Search to access Reddit for information.
The Wood-led firm sold 62,389 Reddit shares from its ARK Next Generation Internet ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKW#NYSE">ARKW</a>) fund on Thursday, a transaction valued at $8.2 million. Reddit shares closed the day 8.6% higher at $131.44.
The Amazon.com Trade
Ark Invest&#8217;s decision to purchase Amazon shares comes at a time when insiders at the e-commerce giant have been <a href="https://www.benzinga.com/markets/equities/24/11/41763411/jeff-bezos-sells-214m-worth-of-amazon-shares-in-latest-stock-move-heres-how-much-he-still-owns">selling off their shares</a>. According to a recent Benzinga report, Jeff Bezos, Amazon&#8217;s executive chair, <a href="https://www.benzinga.com/markets/equities/24/11/41763411/jeff-bezos-sells-214m-worth-of-amazon-shares-in-latest-stock-move-heres-how-much-he-still-owns">recently sold</a> 1.07 million shares of Amazon stock at $200.07 per share, raking in approximately $213.8 million. This left Bezos with 926.41 million shares of Amazon.
Bezos was not the only Amazon insider selling shares. Recently, director Jonathan Rubinstein also offloaded $1 million worth of shares, while Douglas Herrington, CEO of Worldwide Amazon Stores, sold $696,360 worth of Amazon shares.
Ark acquired 150,675 Amazon shares through its ARKK fund, a transaction valued at $31.6 million. Amazon's stock closed Thursday at $210.16, up 1.5%. Other Key Trades:
<ul>
<li>Ark purchased shares of 10X Genomics Inc. (TXG) and sold shares of Moderna Inc (MRNA).</li>
<li>The firm picked up shares of Illumina Inc. (ILMN), ABSCI Corp (ABSI), and Guardant Health Inc. (GH) but sold shares of Unity Software Inc. (U), Sofi Technoliogies Inc. (SOFI), and Repare Therapeutics Inc. (RPTX).</li>
</ul>
Read Next: 
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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41798981/jim-cramer-calls-trumps-return-to-white-house-a-huge-win-for-the-stock-market?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Jim Cramer Calls Trump&#8217;s Return To White House A &#8216;Huge Win For The Stock Market&#8217;</a></li>
</ul>
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

ETFs

AMZN

ARKF

ARKK

ARKW

PLTR

RDDT

SNAP

Cathie Wood's Tech Rotation: Amazon Mega-Buy While Tesla, Reddit And Palantir Get Axed

Green Thumb Industries Inc. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/GTBIF#OTC">GTBIF</a>) (CSE:<a class="ticker" href="https://www.benzinga.com/stock/GTII#CSE">GTII</a>), a <a href="http://benzinga.com/cannabis">cannabis</a> consumer packaged goods company with headquarters in Chicago and owner of RISE Dispensaries, announced its financial results Thursday for the third quarter ended September 30, 2024.
<h4 class="wp-block-heading">Q3 2024 Financial Highlights</h4>
<ul>
<li>Revenue reached $287 million, marking a 4% increase from the previous year.</li>
<li>Net income was $8.6 million or $0.04 per basic and diluted share, compared to net income of $10.5 million, or income of $0.05 per basic and diluted share in the prior year period.</li>
<li>Adjusted EBITDA came in at $89.2 million, representing 31.1% of revenue, up from $83.0 million or 30.1% in Q3 2023.</li>
<li>Gross profit totaled $147.6 million, up from $133.8 million or 48.6% year-over-year.</li>
</ul>
<h3 class="wp-block-heading">Cash Flow And Cost Management Gains</h3>
Green Thumb's operational strategies also strengthened profitability. The company posted a gross profit of $147.6 million, representing 51.4% of revenue. This margin reflects effective cost management despite ongoing price pressures in certain markets. Total cash flow from operations for the first nine months of 2024 reached $152 million, net of $88 million in tax payments.
<ul>
<li>Get Benzinga&#8217;s exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter <a href="https://newsletteremail.benzinga.com/subscribe">here</a>. If you&#8217;re serious about the business, you can&#8217;t afford to miss out.</li>
</ul>
Financially, Green Thumb <a href="https://www.benzinga.com/markets/cannabis/24/09/40834346/cannabis-giant-green-thumb-secures-150m-credit-facility-strengthens-our-already-clean-balance-sh">secured a five-year, $150 million credit facility</a>, strengthening its liquidity and enabling the retirement of $225 million in senior secured debt due in April 2025. Furthermore, the company <a href="https://www.benzinga.com/markets/cannabis/24/09/40876634/cannabis-giant-green-thumb-confirms-50m-share-repurchase-program-ceo-open-to-m-a-and-unique-inve">authorized a $50 million share repurchase program</a>, allowing it to buy back subordinate voting shares through September 2025.
<h3 class="wp-block-heading">Management Commentary</h3>
Green Thumb CEO Ben Kovler highlighted the company's "impressive results" and noted the strategic impact of a new $150 million loan facility. He <a href="https://www.globenewswire.com/news-release/2024/11/07/2977105/0/en/Green-Thumb-Industries-Reports-Third-Quarter-2024-Results.html">said</a> the funding enables Green Thumb to retire its previous debt early, strengthening its balance sheet and supporting its brand-building focus as it continues to expand in the U.S. cannabis market.
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/11/41793174/cannabis-stocks-collapse-after-trump-win-major-players-see-double-digit-declines-at-wednesdays-c">Cannabis Stocks Collapse After Trump Win: Major Players See Double-Digit Declines At Wednesday&#8217;s Close</a>
"As we begin our second decade as a company, we are even more confident in the future of cannabis in America as a means for well-being, and America needs a healthy dose of well-being now more than ever," added Kovler.
<h3 class="wp-block-heading">Green Thumb Expands Dispensary Network, Eyes Continued U.S. Growth</h3>
Beyond financial maneuvers, Green Thumb continued its retail expansion with the opening of four new RISE dispensaries in Q3: three in Florida and one in New York. These additions bring Green Thumb's footprint to 21 dispensaries in Florida and 99 locations nationwide, broadening its access to a growing market of medical and recreational cannabis consumers. In addition, <a href="https://www.benzinga.com/markets/cannabis/24/09/40742561/ohios-cannabis-sales-reach-44m-as-new-customers-just-keep-coming-and-demand-is-not-slowing">the company launched legal cannabis sales across its Ohio</a> RISE dispensaries.
With an expanding retail presence and a reinforced balance sheet, Green Thumb's leadership says it is optimistic. &#8220;We look forward to meeting the patient community and our new neighbors at our upcoming grand opening event on December 13, where we will support the local organization Florida Rights Restoration Coalition (FRRC),&#8221; <a href="https://www.globenewswire.com/news-release/2024/11/07/2976508/0/en/Green-Thumb-Expands-Florida-Retail-Footprint-with-the-Opening-of-RISE-Orlando-on-Good-Homes-Road-on-November-8.html">said</a> Green Thumb president Anthony Georgiadis, signaling confidence in the company's continued growth amid the evolving U.S. cannabis landscape.
GTBIF Price Action GTBIF's shares were trading 3.51% higher at $9.25 per share at market close on Thursday.
Read Next:
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<li><a href="https://www.benzinga.com/markets/cannabis/24/11/41823267/cannabis-stocks-is-it-time-to-buy-the-dip-after-elections-and-legalization-setbacks">Cannabis Stocks: Is It Time To Buy The Dip After Elections And Legalization Setbacks?</a></li>
</ul>

Cannabis

Earnings

CSE:GTII

GTBIF

GTII

Green Thumb Grows Revenue To $287M In Q3, Expands Cannabis Retail Network

Bitcoin tapped an all-time high, and Ethereum soared as the Federal Reserve's <a href="https://www.benzinga.com/economics/macro-economic-events/24/11/41820253/fed-cuts-interest-rates-to-lowest-since-february-2023-sticks-to-data-driven-path">latest quarter-point rate cut</a> boosted market momentum on Thursday.
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<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 7:30 p.m. ET)</td>
</tr>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>+1.46%</td>
<td>$76,365.42</td>
</tr>
<tr>
<td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>+8.52%</td>
<td>$2,938.85</td>
</tr>
<tr>
<td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>-0.92%</td>
<td>$0.1943</td>
</tr>
</tbody>
</table>
</figure>
What Happened: The world's largest cryptocurrency hit a new all-time high at $76,872.61, barely two days after creating records on the day of the U.S. presidential election.
Ethereum powered above $2,900 for the first time in more than three months in a late-evening rally.
Bitcoin's market dominance rose above 60%, following a 3.44 percentage point gain in the last 24 hours, while Ethereum also saw a minor increase in market share.
In the past 24 hours, 89,458 traders were liquidated, with the total liquidations coming in at $311.71 million. Short-leveraged traders saw $186 million worth of their positions evaporate in the rally.
Bitcoin's Open Interest rose 2.88%, indicating an influx of fresh money in the derivatives market.
Bitcoin's Relative Strength Index (RSI) went into the overbought territory, as per TradingView, strengthening the case of a pullback.
That said, market sentiment cooled from "Extreme Greed" to "Greed," as per the Cryptocurrency Fear and Greed Index.
Top Gainers (24-Hours)
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 7:30 p.m. ET)</td>
</tr>
<tr>
<td>Raydium (RAY)</td>
<td>+14.24%</td>
<td>$4.82</td>
</tr>
<tr>
<td>Cardano (ADA)</td>
<td>+13.49%</td>
<td>$0.4133</td>
</tr>
<tr>
<td>Mantle (MNT)</td>
<td>+13.17%</td>
<td>$0.6774</td>
</tr>
</tbody>
</table>
</figure>
The global cryptocurrency stood at $2.5 trillion, following a marginal contraction of 0.57% in the last 24 hours.
Stocks extended their winning streak on Thursday. The S&amp;P 500 gained 0.74% to close at a new record high of 5,973.10. The tech-heavy Nasdaq Composite added 1.51% to end at 19,269.46, marking its first close above 19,000.
The Dow Jones Industrial Average traded near the flatline, dropping just 0.59 points to 43,729.34.
The upswing followed the <a href="https://www.benzinga.com/economics/macro-economic-events/24/11/41820253/fed-cuts-interest-rates-to-lowest-since-february-2023-sticks-to-data-driven-path">Fed's 0.25 percentage point cut</a>, bringing the federal funds rate to a target range of 4.5% to 4.75%, the lowest since February 2023.
Fed Chair Jerome Powell hinted at the <a href="https://www.benzinga.com/news/large-cap/24/11/41826586/wall-street-closes-at-record-highs-after-reassurance-from-powell-magnificent-7-hit-17-trillion-tre">possibility of more easing in the future</a> but refrained from signaling a specific rate cut at the December meeting, stressing a data-dependent approach.
See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>
Analyst Notes: Popular cryptocurrency analyst Ali Martinez said that Bitcoin can hit a local top of $85,360 if it maintains support above $71,489, according to the MVRV Deviation Pricing Bands.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">If <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> maintains support above $71,489, the next local top could be around $85,360, based on the MVRV Deviation Pricing Bands. <a href="https://t.co/ilvzI5iNPO">pic.twitter.com/ilvzI5iNPO</a>
&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1854659596285043004?ref_src=twsrc%5Etfw">November 7, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Martinez also drew attention to the impending "altcoin season."&nbsp;
"This could be the ideal time to stack up on altcoins, as history shows that altseason often follows shortly after," the analyst added, referring to the ongoing dominance of Bitcoin.
<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">Altseason hasn't even begun! We're in that part of the cycle where <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> is still outpacing <a href="https://twitter.com/hashtag/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw">#Ethereum</a>—totally normal at this stage. This could be the ideal time to stack up on altcoins, as history shows that altseason often follows shortly after. <a href="https://t.co/jxANVYk8kt">pic.twitter.com/jxANVYk8kt</a>
&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1854623178523328901?ref_src=twsrc%5Etfw">November 7, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Widely-followed cryptocurrency analyst, going by the pseudonym Wolf dubbed Ethereum as the "best" risk/reward asset in the cryptocurrency market.
"The fundamentals have never been stronger, and technically, it's incredibly undervalued. The chart is looking bullish as ever, and with ground to catch up against BTC and SOL," the analyst added.
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Bitcoin, Ethereum Rise, Dogecoin Steady After Fed Cuts Rate: Analyst Predicts Apex Crypto's Next Local Top At $85.4K If This Happens

Amazon.com, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) is reportedly contemplating its second multi-billion-dollar investment in&nbsp;artificial intelligence startup&nbsp;Anthropic, which leverages its cloud services for training.
What Happened: Following its <a href="https://www.benzinga.com/m-a/24/09/41067395/amazons-partnership-with-jeff-bezos-backed-anthropic-gets-green-signal-from-uk-competition-watchdog">initial $4 billion investment</a> last year, the e-commerce giant is now planning investment&nbsp;in the startup co-founded by former OpenAI executives Dario and Daniela Amodei, <a href="https://www.theinformation.com/articles/amazon-discussing-new-multibillion-dollar-investment-in-anthropic">reported</a> The Information, citing a person familiar with the discussion.
The Andy Jassy-led company has reportedly asked Anthropic to use a significant&nbsp;number of servers powered by&nbsp;chips developed by the cloud&nbsp;computing giant.
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/09/40893054/mark-cuban-says-he-would-buy-rupert-murdochs-fox-news-and-elon-musks-x-but-there-are-some-obstacles?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mark Cuban Says He Would Buy Rupert Murdoch&#8217;s Fox News And Elon Musk&#8217;s X But There Are Some Obstacles: &#8216;If I Had Enough… I&#8217;d Buy It In A Heartbeat&#8217;</a>
However, Anthropic reportedly prefers to use Amazon servers powered by Nvidia Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) designed AI chips.
Last year, Anthropic&nbsp;also secured a $500 million investment&nbsp;from Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>), which pledged to invest an additional $1.5 billion over time.
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.
Why It Matters: Amazon&#8217;s initial&nbsp;<a href="https://www.benzinga.com/news/24/08/40255295/amazons-4b-stake-in-anthropic-under-uk-investigation-for-anti-competitive-concerns">$4 billion investment</a>&nbsp;in Anthropic faced scrutiny from U.K. regulators over anti-competitive concerns.
Last month, U.K. antitrust officials also launched an investigation into whether Alphabet Inc.&#8217;s investment in AI startup Anthropic could stifle competition.
Meanwhile, AI startups have been attracting significant investments. OpenAI&#8217;s valuation&nbsp;<a href="https://www.benzinga.com/news/24/10/41149788/openai-valuation-soars-to-157b-in-latest-funding-round">soared to $157 billion</a>&nbsp;following a funding round.
Perplexity, backed by Amazon founder Jeff Bezos, also reportedly saw its valuation triple to<a href="https://www.benzinga.com/news/24/11/41764081/jeff-bezos-backed-ai-startup-perplexity-set-to-triple-valuation-to-9b-in-fourth-funding-round-can-it"> $9 billion in its fourth funding</a> round.
Price Action: Amazon shares closed Thursday's session up 1.48% at $210.16. In after-hours trading, the tech giant's shares rose slightly further, reaching $210.27 at the time of writing, according to <a href="https://www.benzinga.com/pro/?utm_source=BZprocontent110524&amp;t=be2bearmibe3na1">Benzinga Pro data</a>.
Photo: gguy/Shutterstock.com
Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
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Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

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After OpenAI And Perplexity, AI Startup Anthropic May Secure Another Massive Investment — Amazon Reportedly Considers Major Funding

Why allow intermediaries to add unnecessary costs when direct relationships can bring quality to the forefront? As supply chains tighten across industries, Red Mesa Science &amp; Refining is pioneering a streamlined approach to bring minor cannabinoids to market.&nbsp;
By bypassing brokers and relying on an efficient, around-the-clock refinement process, Red Mesa aims to reduce costs, ensure product consistency and empower the true stewards of hemp &#8211; the growers and refiners themselves. 
Jeff Applegate, Red Mesa's president, puts it simply. "Collaborating directly with qualified, experienced farmers and extractors is essential to keeping costs low and quality high." It's a model that prioritizes trust and accountability within every step of the supply chain.
<ul>
<li>Get Benzinga&#8217;s exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter&nbsp;<a href="https://newsletteremail.benzinga.com/subscribe" target="_blank" rel="noreferrer noopener">here</a>. You can't afford to miss out if you&#8217;re serious about the business.</li>
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<h2 class="wp-block-heading">Leverage Instead Of Liability</h2>
Applegate detailed how brokers often disrupt the hemp supply chain by imposing additional costs, sometimes up to 15%, which can hinder farmer&#8217;s profits and drive up expenses for manufacturers, creating an unsustainable model for both sides.
Red Mesa has strategically positioned itself within the cannabinoid supply chain to minimize intermediaries and maintain competitive production costs. "Keeping production costs low is fundamental to industry success," Applegate told Benzinga Cannabis in an exclusive interview. "Collaborating directly with farmers and extractors in a cohesive supply chain is essential to keep our cost of input as a leverage instead of a liability."
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="590" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/07165714/In-proces-testing-Bulk-CBD-Isolate-Red-Mesa-Science-and-Refining-copy-1024x590.jpg" alt="" class="wp-image-636416" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/07165714/In-proces-testing-Bulk-CBD-Isolate-Red-Mesa-Science-and-Refining-copy-1024x590.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/07165714/In-proces-testing-Bulk-CBD-Isolate-Red-Mesa-Science-and-Refining-copy-300x173.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/07165714/In-proces-testing-Bulk-CBD-Isolate-Red-Mesa-Science-and-Refining-copy-768x442.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/07165714/In-proces-testing-Bulk-CBD-Isolate-Red-Mesa-Science-and-Refining-copy-1536x884.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/07165714/In-proces-testing-Bulk-CBD-Isolate-Red-Mesa-Science-and-Refining-copy.jpg 1876w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">In-proces testing Bulk CBD Isolate Red Mesa Science and Refining. </figcaption></figure>
"We're seeing less interference now, but reducing reliance on brokers is essential for a cost-effective system. The farmer and the customer need to be directly tied to one another so the farmer gets a fair return," he explained.&nbsp;
<h3 class="wp-block-heading">Not An Easy Crop</h3>
Sourcing consistent and affordable raw materials has presented a challenge as the hemp industry matures. Applegate explained that an initial oversupply in 2019 led to a rapid decline in hemp farming as prices plummeted. 
"There was an abundance of farmers when the 2018 farm bill was put into place," he said. "The market, the producers, wasn't sufficiently equipped to take all of the output that came. Since 2019, we've had nothing but a declining number of farmers."
"It's not an easy crop to grow at all," Applegate added, noting that hemp requires extensive processing before it can be used in extraction. This contrasts with the cannabis flower market, where crops can be more directly sold.
Read Also: <a href="https://www.benzinga.com/news/24/09/40941818/how-this-cheese-aging-tech-is-boosting-profits-for-cannabis-growers-stop-throwing-cheddar-out-the-do">How This Cheese-Aging Tech Is Boosting Profits For Cannabis Growers: Stop Throwing Cheddar Out The Door</a>
<h2 class="wp-block-heading">Inside Red Mesa&nbsp;</h2>
Red Mesa's facility in Utah was initially a cabinet shop before being repurposed for hemp refinement. With its high power capacity &#8211; essential for their machinery &#8211; the location proved ideal. 
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="665" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/07165821/Liquid-Chromatography-Red-Mesa-Science-and-Refining-for-CBD-CBG-CBN-CRD-Isolates-and-Distillates-1024x665.jpg" alt="" class="wp-image-636418" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/07165821/Liquid-Chromatography-Red-Mesa-Science-and-Refining-for-CBD-CBG-CBN-CRD-Isolates-and-Distillates-1024x665.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/07165821/Liquid-Chromatography-Red-Mesa-Science-and-Refining-for-CBD-CBG-CBN-CRD-Isolates-and-Distillates-300x195.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/07165821/Liquid-Chromatography-Red-Mesa-Science-and-Refining-for-CBD-CBG-CBN-CRD-Isolates-and-Distillates-768x499.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/07165821/Liquid-Chromatography-Red-Mesa-Science-and-Refining-for-CBD-CBG-CBN-CRD-Isolates-and-Distillates-1536x998.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/07165821/Liquid-Chromatography-Red-Mesa-Science-and-Refining-for-CBD-CBG-CBN-CRD-Isolates-and-Distillates.jpg 1663w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Liquid Chromatography Red Mesa Science and Refining for CBD CBG CBN CRD Isolates and Distillates. </figcaption></figure>
Applegate described how the production process flows from crude oil intake to distillation. This is further refined through crystallization and chromatography. "In distillation, we have the finished product. It's usually a light yellow to golden color, thicker in viscosity than water, almost syrup-like when warm," he explained.
Once the distillate undergoes crystallization, Red Mesa is left with a white, fluffy powder—ready for B2B sale. "We didn't walk across the bridge to become a white labeler or finished goods company," he said. "Our goal is to create the most coveted, consistent outputs to win the market."
<h3 class="wp-block-heading">A Competitive Edge In Minor Cannabinoids</h3>
Red Mesa's botanical, non-synthetic refinement process sets it apart by isolating rare cannabinoids—such as CBN, CBT, and CBL—directly from hemp without chemical conversions.&nbsp;
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="557" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/07165933/Gate-1-Red-Mesa-Science-and-Refining--1024x557.jpg" alt="" class="wp-image-636421" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/07165933/Gate-1-Red-Mesa-Science-and-Refining--1024x557.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/07165933/Gate-1-Red-Mesa-Science-and-Refining--300x163.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/07165933/Gate-1-Red-Mesa-Science-and-Refining--768x418.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/07165933/Gate-1-Red-Mesa-Science-and-Refining--1536x836.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/07165933/Gate-1-Red-Mesa-Science-and-Refining-.jpg 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Gate 1 Red Mesa Science and Refining</figcaption></figure>
"Our botanical refining process generates final outputs derived directly from the hemp plant without the use of catalysts and acids required for chemical conversion processes," Applegate explained.
To achieve this, Red Mesa made substantial investments early on. "To be the first refiner to offer rare minors such as CBN, CBL, and CBT at kilogram scale, we had to make significant investments in large-scale chromatography very early in the company's history," Applegate noted. 
Read Also:<a href="https://www.benzinga.com/general/biotech/24/10/41394513/sold-out-before-hitting-shelves-why-did-ayr-wellness-snatch-up-this-local-cannabis-brand"> Sold Out Before Hitting Shelves: Why Did AYR Wellness Snatch Up This Local Cannabis Brand?</a>
<h3 class="wp-block-heading">The Red Mesa Standard: ISO Certification, And FDA Registration</h3>
&#8220;The Red Mesa Standard&#8221; represents a commitment to quality and consistency that Applegate says will set them apart. "We have an end-to-end certification from the beginning of our business to the end," he said, contrasting this with many industry peers who only certify specific departments. Additionally, Red Mesa voluntarily registers with the FDA as a food ingredient company, even though it's not required.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="422" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/07170058/Dual-Liquid-Chromatography-System-Refines-and-Purifies-CBN-Isolate-Botanical-CBN-Disitllate-Botanical-CBL-CBT-Red-Mesa-Science-and-Refining-copy-1024x422.jpg" alt="" class="wp-image-636425" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/07170058/Dual-Liquid-Chromatography-System-Refines-and-Purifies-CBN-Isolate-Botanical-CBN-Disitllate-Botanical-CBL-CBT-Red-Mesa-Science-and-Refining-copy-1024x422.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/07170058/Dual-Liquid-Chromatography-System-Refines-and-Purifies-CBN-Isolate-Botanical-CBN-Disitllate-Botanical-CBL-CBT-Red-Mesa-Science-and-Refining-copy-300x124.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/07170058/Dual-Liquid-Chromatography-System-Refines-and-Purifies-CBN-Isolate-Botanical-CBN-Disitllate-Botanical-CBL-CBT-Red-Mesa-Science-and-Refining-copy-768x316.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/07170058/Dual-Liquid-Chromatography-System-Refines-and-Purifies-CBN-Isolate-Botanical-CBN-Disitllate-Botanical-CBL-CBT-Red-Mesa-Science-and-Refining-copy-1536x633.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/07170058/Dual-Liquid-Chromatography-System-Refines-and-Purifies-CBN-Isolate-Botanical-CBN-Disitllate-Botanical-CBL-CBT-Red-Mesa-Science-and-Refining-copy.jpg 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Dual Liquid Chromatography System Refines and Purifies CBN Isolate &#8211; Botanical CBN Disitllate &#8211; Botanical CBL CBT Red Mesa Science and Refining.</figcaption></figure>
<h3 class="wp-block-heading">24/7</h3>
With operations currently running at about 45% of their <a href="https://www.youtube.com/watch?v=_lpxdoVtWow">50,000-square-foot facility</a>, Red Mesa is poised for growth. "We operate 24 hours a day, seven days a week," Applegate shared, adding that they gradually scaled up from single-shift days to continuous operation.
Looking forward, Red Mesa plans to enter the Japanese market in 2025 and establish regional distribution hubs to serve global customers.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="993" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/07170227/Crystal-Resistant-CBD-Distillate-Anti-Crystallization-CBD-Red-Mesa-Science-and-Refining-1024x993.jpg" alt="" class="wp-image-636429" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/07170227/Crystal-Resistant-CBD-Distillate-Anti-Crystallization-CBD-Red-Mesa-Science-and-Refining-1024x993.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/07170227/Crystal-Resistant-CBD-Distillate-Anti-Crystallization-CBD-Red-Mesa-Science-and-Refining-300x291.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/07170227/Crystal-Resistant-CBD-Distillate-Anti-Crystallization-CBD-Red-Mesa-Science-and-Refining-768x745.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/07170227/Crystal-Resistant-CBD-Distillate-Anti-Crystallization-CBD-Red-Mesa-Science-and-Refining.jpg 1114w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Crystal Resistant CBD Distillate Anti-Crystallization CBD Red Mesa Science and Refining</figcaption></figure>
While growth is a priority, so too is legislative reform. 
"The lack of clear rules for cannabinoid production is probably the biggest barrier we've seen to adoption. To bring prices down and make cannabinoids more accessible, we need efficient production coupled with thoughtful regulation," Applegate said. 
He emphasized that regulation and cost efficiency will help expand the market by making cannabinoids accessible to a wider consumer base.
Read Next:<a href="https://www.benzinga.com/general/biotech/24/08/40298228/think-you-can-do-it-all-20-000-reasons-why-automation-outperforms-a-broad-approach-in-cannabis"> Think You Can Do It All? 20,000 Reasons Why Automation Outperforms A Broad Approach In Cannabis</a>

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No Middleman, No Markup: How Red Mesa Is Slashing Costs With Around-The-Clock Hemp Refinement

Ethereum Classic (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/etc/usd">ETC</a>) has gained roughly 12% to $20.26 since Tuesday evening amid Donald Trump winning the <a href="https://www.benzinga.com/economics/macro-economic-events/24/11/41772701/trumps-historic-return-7-ways-his-second-term-could-impact-the-us-economy">2024 presidential election</a>.
Trump&#8217;s win, coupled with the Republican Party regaining Senate control, hints at a shift in U.S. economic policies, potentially involving corporate tax cuts, trade tariffs and measures to combat inflation—factors that could influence both traditional and digital markets.
What To Know: A key driver behind Ethereum Classic's rally is Trump's pro-crypto stance, including his vision of the U.S. becoming a <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40671868/trumps-bitcoin-strategic-reserve-proposal-will-chip-away-dollars-status-warns-expert-money">&#8220;Bitcoin superpower.&#8221;</a> This renewed focus on cryptocurrencies as a store of value and inflation hedge has sparked investor interest in digital assets like Ethereum Classic, seen as a secure alternative to newer, more volatile coins.
Trump's anticipated economic policies could increase inflation, with experts predicting up to a 2.4% rise, pushing investors toward cryptocurrencies as a way to safeguard against the dollar&#8217;s decline. 
Read Also: <a href="https://www.benzinga.com/news/large-cap/24/11/41826586/wall-street-closes-at-record-highs-after-reassurance-from-powell-magnificent-7-hit-17-trillion-tre">Wall Street Hits Record Highs After Powell&#8217;s Speech, Lifts Magnificent 7 Stocks To $17 Trillion In Historic Trading</a>
Ethereum Classic has also cultivated a strong following due to its decentralized nature and its adherence to the original Ethereum vision. As retail investors seek safe havens from economic uncertainty, the coin's appeal could grow in an environment marked by rising inflation fears.
As the digital asset market continues to mature, the convergence of regulatory shifts, M&amp;A activities, and adoption trends will define the future of this dynamic field. <a href="https://www.benzinga.com/digital-assets" target="_blank" rel="noreferrer noopener">Benzinga&#8217;s Future of Digital Assets</a> event in New York City this November will provide industry leaders and investors with a platform to explore these developments further, offering insights into the evolving regulatory environment and the latest market dynamics.

$ETC

What's Going On With Ethereum Classic?

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

LIPO

In the wake of Donald Trump's <a href="https://www.benzinga.com/economics/macro-economic-events/24/11/41772701/trumps-historic-return-7-ways-his-second-term-could-impact-the-us-economy">2024 presidential win</a>, Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>) has jumped 10% since Wednesday to reach $0.00001944.
Trump's victory, combined with the Republican Party's return to a Senate majority, signals a potential shift in U.S. economic policy that includes corporate tax cuts, high tariffs and an aggressive stance on inflation—factors that could reshape traditional and digital asset markets alike.
What To Know: A key driver of SHIB&#8217;s surge is Trump's pro-crypto stance, marked by his vision of the U.S. as a <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40671868/trumps-bitcoin-strategic-reserve-proposal-will-chip-away-dollars-status-warns-expert-money">"Bitcoin superpower."</a> Trump's proposal to incorporate Bitcoin into a national reserve has sent ripples through the crypto space, igniting excitement among investors who see digital assets as hedges against economic uncertainty. 
Trump's anticipated policies could stoke inflationary pressures, with JPMorgan analysts projecting up to a <a href="https://www.benzinga.com/economics/macro-economic-events/24/11/41772701/trumps-historic-return-7-ways-his-second-term-could-impact-the-us-economy">2.4% rise in inflation</a> if trade tariffs are fully enacted. In such an environment, investors often look to alternative assets like cryptocurrencies as protection against the dollar's decline. 
Shiba Inu, with its low entry price and high volatility, is a popular speculative asset among retail investors seeking both growth potential and a potential hedge against macroeconomic risks.
Read Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41825733/could-micas-passport-system-open-doors-across-europe-for-crypto-exchanges">Could MiCA&#8217;s Passport System Open Doors Across Europe For Crypto Exchanges?</a>
Shiba Inu was created as an Ethereum-based alternative to Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>), branding itself as the "Dogecoin killer." Both coins share a meme-inspired appeal, drawing in retail investors with their playful branding and community-driven support.
As the digital asset market continues to mature, the convergence of regulatory shifts, M&amp;A activities, and adoption trends will define the future of this dynamic field. <a href="https://www.benzinga.com/digital-assets" target="_blank" rel="noreferrer noopener">Benzinga's Future of Digital Assets</a> event in New York City this November will provide industry leaders and investors with a platform to explore these developments further, offering insights into the evolving regulatory environment and the latest market dynamics.

$SHIB

What's Going On With Shiba Inu (SHIB)?

Claros Mortgage Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMTG#NYSE">CMTG</a>) reported quarterly earnings of $0.22 per share which beat the analyst consensus estimate of $0.10 by 120 percent. The company reported quarterly sales of $64.877 million which beat the analyst consensus estimate of $57.180 million by 13.46 percent. This is a 19.46 percent decrease over sales of $80.553 million the same period last year.

Earnings Beats

CMTG

Claros Mortgage Trust Q3 2024 Adj. EPS $0.22 Beats $0.10 Estimate, Sales $64.877M Beat $57.180M Estimate

Cibus (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CBUS#NASDAQ">CBUS</a>) reported quarterly earnings of $0.06 per share which beat the analyst consensus estimate of $(0.90) by 106.67 percent. The company reported quarterly sales of $1.667 million which beat the analyst consensus estimate of $611.000 thousand by 172.83 percent. This is a 250.95 percent increase over sales of $475.000 thousand the same period last year.

CBUS

Cibus Q3 2024 Adj. EPS $0.06 , Sales $1.667M Beat $611.000K Estimate

President-elect Donald Trump has appointed his campaign leader, Susie Wiles, as his chief of staff. This marks the first time in US history that a woman has been appointed to this influential position.
What Happened: Wiles, a seasoned GOP operative from Florida, will assume her new role when Trump takes office in January. Trump lauded Wiles for her pivotal role in his successful 2016 and 2020 campaigns, <a href="https://thehill.com/homenews/4979786-susie-wiles-chief-of-staff/">reported</a> The Hill.
&#8220;Susie is tough, smart, innovative, and is universally admired and respected. Susie will continue to work tirelessly to Make America Great Again,&#8221; said Trump, reported The Hill.
He said, &#8220;It is a well deserved honor to have Susie as the first-ever female Chief of Staff in United States history. I have no doubt that she will make our country proud.&#8221;
Wiles, known for her low-profile approach, spearheaded Trump&#8217;s Florida operations during the 2016 campaign and later collaborated with Ron DeSantis (R) on his gubernatorial campaign. However, she left DeSantis&#8217;s team due to escalating tensions.
The chief of staff role, second only to the president in terms of influence, will see Wiles managing Trump and his team, a task that proved challenging during his first term. Trump&#8217;s initial choice for the role, Reince Priebus, was replaced after six months by John Kelly, who later became a vocal critic of Trump.
See Also: <a href="https://www.benzinga.com/news/24/11/41710411/market-analyst-who-predicted-trumps-2016-win-and-bidens-2020-victory-now-sees-former-president-retak?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Market Analyst Who Predicted Trump&#8217;s 2016 Win And Biden&#8217;s 2020 Victory, Now Sees Former President Retaking The White House With &#8216;Large Majority Of Swing States&#8217;</a>
Why It Matters: Wiles&#8217; appointment comes on the <a href="https://www.benzinga.com/news/24/11/41766547/trump-gives-victory-speech-in-florida-as-winning-pennsylvania-puts-him-at-brink-of-victory-vows-to-f">heels of Trump&#8217;s victory</a> in the 2024 presidential election. Trump&#8217;s win, which he described as &#8220;the greatest political movement of all time,&#8221; was followed by a <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41807254/trump-election-raises-odds-of-roaring-2020s-scenario-veteran-wall-street-investor-s">surge in the U.S. stock market</a>, with analysts predicting a new &#8220;Roaring 2020s&#8221; scenario.
On Wednesday, after Trump won the election, the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) shot up 2.5% to establish new record highs. The small-caps fund iShares Russell 2000 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) spiked 5.8%.
However, Trump also hinted at a <a href="https://www.benzinga.com/general/biotech/24/11/41822473/trumps-potential-health-czar-robert-f-kennedy-jr-rattles-vaccine-stocks-shoot-first-reaction">potential senior role</a> for Robert Kennedy Jr. to advance his &#8220;Make America Healthy Again&#8221; agenda, causing uncertainty in pharmaceutical stocks.
With Wiles at the helm as chief of staff, it remains to be seen how these developments will unfold and shape the course of Trump&#8217;s second term in office.
Did You Know?
<ul>
<li>Congress Is Making Huge Investments. <a href="https://www.benzinga.com/gov-trades">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

Politics

General

Trump Appoints Susie Wiles As First Woman Chief Of Staff In US History, Calls Her Tough, Smart And Innovative

Galiano Gold (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/GAU#AMEX">GAU</a>) reported quarterly earnings of $0.07 per share which beat the analyst consensus estimate of $0.04 by 75 percent. This is a 40 percent increase over earnings of $0.05 per share from the same period last year. The company reported quarterly sales of $71.130 million which missed the analyst consensus estimate of $78.000 million by 8.81 percent. This is a 5.22 percent increase over sales of $67.600 million the same period last year.

Earnings Misses

Galiano Gold Q3 2024 Adj. EPS $0.07 Beats $0.04 Estimate, Sales $71.130M Miss $78.000M Estimate

HireQuest (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HQI#NASDAQ">HQI</a>) reported quarterly earnings of $0.20 per share which beat the analyst consensus estimate of $0.16 by 25 percent. The company reported quarterly sales of $9.416 million which beat the analyst consensus estimate of $8.950 million by 5.21 percent. This is a 1.56 percent increase over sales of $9.271 million the same period last year.

HireQuest Q3 2024 Adj. EPS $0.20 Beats $0.16 Estimate, Sales $9.416M Beat $8.950M Estimate

Donald Trump will return to the White House and will bring major changes to the country's tax, AI and energy policies. RBC Capital Markets analyst Deane Dray highlighted some of the companies that may benefit <a href="https://www.benzinga.com/government/24/11/41828468/trump-says-hed-replace-income-taxes-with-tariffs-the-potential-economic-fallout">from Trump's policies. </a>
Fossil Fuel/ Energy Independence: Trump's plans for energy independence would reverse many of the Biden administration's policies in order to reinvigorate the fossil fuel industry. He aims to expand the construction of pipelines, grids, ports and refineries and emphasizes utilizing domestic oil, gas and coal resources. Dray pointed to Flowserve Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FLS#NYSE">FLS</a>) and Emerson Electric Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EMR#NYSE">EMR</a>) as potential beneficiaries of Trump's energy policies. 
Read Next: <a href="https://www.benzinga.com/news/24/11/41781921/what-does-trumps-victory-mean-for-ev-giant-tesla-and-the-big-3-automakers">What Does Trump&#8217;s Victory Mean For EV Giant Tesla And The Big 3 Automakers?</a>
Rollback of IRA/ Reduced Clean Energy Investments: Trump has said he plans<a href="https://www.benzinga.com/news/24/07/39854007/trump-says-he-will-end-the-electric-vehicle-mandate-on-day-one-days-after-tesla-ceo-elon-musks-endor"> to eliminate</a> many vehicle emissions standards under the Environmental Protection Agency as well as many EV incentives included in the Biden administration&#8217;s Inflation Reduction Act (IRA). 
The RBC analyst again pointed to oil and gas companies as the key companies that could benefit from these potential policy adjustments, but cautioned it is too early to tell what the impacts might be for nuclear power companies. 
More Flexible/Reduced AI Regulation: RBC expects a Trump administration to be in favor of Big Tech and AI developers as he has called for a review of "unnecessary and burdensome regulations" on AI. The firm also pointed out that multi-industry data center-exposed stocks outperformed the sector by 500 basis points the day after Trump won the election. 
Dray said multi-industry companies involved in data centers that could benefit from Trump's less restrictive AI policies include nVent Electric Plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVT#NYSE">NVT</a>) and Eaton Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ETN#NYSE">ETN</a>). 
Lower Corporate Tax Rate: Trump <a href="https://www.benzinga.com/government/24/10/41623850/trump-vs-harris-how-the-candidates-corporate-tax-proposals-stack-up">shared his plans</a> to lower the corporate tax rate to 15% for companies that make their products in the U.S. The RBC analyst sees lower corporate tax rates could lead to more reshoring from semiconductor and pharmaceutical companies and potentially more investment in the US. 
Dray pointed to Roper Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROP#NASDAQ">ROP</a>) specifically, but most publicly traded companies could benefit from lower tax rates. 
The Takeaway: "The bottom line is that early stock moves are playing out according to script, with the early stock outperformers being the electricals and oil and gas exposed names," Dray wrote. 
Read More:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/news/large-cap/24/11/41774549/trumps-big-tech-policies-what-gop-victory-means-for-apple-google-microsoft">Trump&#8217;s Big Tech Policies: What GOP Victory Means For Apple, Google, Microsoft</a></li>
</ul>
Photo: Shutterstock

Government

How To Play The 'Trump Trade' For AI, Energy, Taxes: Analyst Says 5 Stocks Could Shine

Avinger (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGR#NASDAQ">AVGR</a>) reported quarterly losses of $(1.82) per share which beat the analyst consensus estimate of $(2.03) by 10.34 percent. The company reported quarterly sales of $1.650 million which beat the analyst consensus estimate of $1.635 million by 0.92 percent. This is a 9.19 percent decrease over sales of $1.817 million the same period last year.

AVGR

Avinger Q3 2024 GAAP EPS $(1.82) Beats $(2.03) Estimate, Sales $1.650M Beat $1.635M Estimate

Globalstar (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/GSAT#AMEX">GSAT</a>) raises FY2024 sales outlook from $235.00 million-$250.00 million to $245.00 million-$250.00 million.

Guidance

GSAT

Globalstar Raises FY2024 Sales Guidance from $235.00M-$250.00M to $245.00M-$250.00M

Mingteng International Corp., Inc. (MTEN) has released an update. Mingteng International Corp. reports a mild revenue increase of 2.5% to $8.23 mil...

Mingteng International Corp. Unveils FY 2023 Results

Mingteng International GAAP EPS of $0.30, revenue of $8.23M

Greenwave Technology, Enersys, VerifyMe among industrial movers

Serve Robotics, Nano Nuclear Energy, Montana Technologies among industrial movers

American Superconductor, Serve Robotics, flyExclusive among industrial movers

Mingteng International Corp., Inc. (MTEN) has released an update. Mingteng International Corp Inc. has confirmed its agreement with statements made...

Mingteng International Affirms Financial Statements

Catalyst Watch: Netflix earnings, Lenovo tech event, Paris Motor Show, and eyes on oil

Mingteng International Corp., Inc. (MTEN) has released an update. Mingteng International Corp., through its subsidiary Wuxi Mingteng Mould Technolo...

Mingteng International: A Key Player in Automotive Molds

09:40 EST Mingteng International (MTEN) Corp Inc trading resumes Published first on TheFly – the ultimate source for real-time, market-moving break...

Mingteng International Corp Inc trading resumes

09:30 EST Mingteng International (MTEN) Corp Inc trading halted, volatility trading pause Published first on TheFly – the ultimate source for real-...

Mingteng International Corp Inc trading halted, volatility trading pause

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Mingteng International Corporation Inc. Announces Pricing of Initial Public Offering

Mingteng International Corporation Inc. Announces Closing of Initial Public Offering

Mingteng International Corporation Inc. Announces Full Exercise of Underwriters' Over-Allotment Option

Mingteng International Corporation Inc. Announces Financial Results for Fiscal Year 2023

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