L'intérêt à découvert pour DocuSign donne aux investisseurs une idée du degré auquel les investisseurs parient sur la baisse de l'action de DocuSign. Les données sur l'intérêt à découvert sont mises à jour toutes les deux semaines.

DocuSign (NASDAQ:DOCU) Stock, Rapport sur les intérêts à découvert

DocuSign

Docusign offers Agreement Cloud, a broad cloud-based software suite that enables users to automate the agreement process and provide legally binding e-signatures from nearly any device. The company was founded in 2003 and completed its initial public offering in May 2018.

DocuSign Inc

DOCUSIGN ORD

Leading cryptocurrencies remained flat Tuesday, with Ethereum making modest gains, as falling oil prices boosted sentiment.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 9:45 p.m. EDT)</td>
</tr>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>-0.28%</td>
<td>$$62,418.83</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>+1.23%</td>
<td>$2,463.51</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>-0.60%</td>
<td>$0.1087</td>
</tr>
</tbody>
</table>
</figure>
What Happened: Bitcoin spiked above $63,000 as markets opened, but the gains were reversed quickly, causing the apex cryptocurrency to wobble in the early $62,000 zone.
Ethereum moved sideways for much of the day until a sharp spike overnight pushed it to $2,470.  
Total cryptocurrency liquidations hit nearly $140 million in the last 24 hours, with long liquidations accounting for over 60% of the total.&nbsp;
Bitcoin's Open Interest rose 0.13% in the last 24 hours, indicating the opening of new short positions that may have caused a price decline.
The number of traders placing bearish bets on the coin continued to exceed those gunning for price increases, lending credence to the aforementioned claim.
The Cryptocurrency Fear &amp; Greed remained in the "Neutral" zone as of this writing.
Top Gainers (24-Hours)
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 9:45 p.m. EDT)</td>
</tr>
<tr>
<td>First Neiro On Ethereum (NEIRO)</td>
<td>+12.78%</td>
<td>$0.001909</td>
</tr>
<tr>
<td>EigenLayer (EIGEN)</td>
<td>+9.07%</td>
<td>$3.73</td>
</tr>
<tr>
<td>Monero (XMR)</td>
<td>+3.27%</td>
<td>$150.36</td>
</tr>
</tbody>
</table>
</figure>
The global cryptocurrency stood at $2.17 trillion, following a contraction of 0.29% in the last 24 hours.
Stocks clawed back sharply Tuesday following Monday's retrace.&nbsp;
Monday after closing last week on a high. The Dow Jones Industrial Average rose 126.13 points, or 0.30%, to close at 42,080.37. The broad-based index S&amp;P 500 gained 0.97%, ending at 5,751.13, while the tech-focused Nasdaq Composite spiked 1.45% to close at 18,182.92.
The rally coincided with a sharp fall in oil prices, with West Texas Intermediate (WTI) <a href="https://www.benzinga.com/markets/equities/24/10/41234113/crude-oil-falls-over-4-us-trade-deficit-narrows-in-august">trading down 4%</a> earlier in the day. As of this writing, WTI was valued at $73.60 a barrel as traders continued to weigh the economic and geopolitical implications of escalating <a href="https://www.benzinga.com/topic/middle-east">tensions in the Middle East.</a>
Furthermore, technology stocks helped power the rebound, with AI juggernaut NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) popping 4.05% during the regular session.
See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>
Analyst Notes: Widely-followed cryptocurrency analyst Rekt Capital stated that Bitcoin was currently in "no man's land."&nbsp;
The analyst added that King Crypto needed a daily close above $64,200 to enter the channel top and attempt an upside breakout.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> Bitcoin seems to be finding resistance at the $64200 (purple) level The reality is that Bitcoin is only one Daily Close above purple away from challenging the Channel Top (black) once again But at the moment, BTC is mid-channel, in no man&#39;s land<a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> <a href="https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw">#Crypto</a> <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <a href="https://t.co/nuoj4nKiXb">https://t.co/nuoj4nKiXb</a> <a href="https://t.co/cHyoeO9hGH">pic.twitter.com/cHyoeO9hGH</a>
&mdash; Rekt Capital (@rektcapital) <a href="https://twitter.com/rektcapital/status/1843606492785586273?ref_src=twsrc%5Etfw">October 8, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Cryptocurrency researcher Michaël van de Poppe, noting Ethereum's outperformance, predicted that it would eventually "take over" Bitcoin.&nbsp;
"Slowly, but surely, I think the beast will take over and continue to outperform, hence through which altcoins are likely going to do way better than 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"><a href="https://twitter.com/hashtag/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw">#Ethereum</a> outperforming Bitcoin today. Slowly, but surely, I think the beast will take over and continue to outperform, hence through which altcoins are likely going to do way better than Bitcoin. Crucial? Breakout above $65K for Bitcoin too.
&mdash; Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1843720136949411899?ref_src=twsrc%5Etfw">October 8, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Photo by stockphoto-graf on Shutterstock
Read Next:&nbsp;&nbsp;&nbsp;&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41234936/ftx-to-repay-creditors-up-to-16-5b-is-this-bullish-for-bitcoin">FTX To Repay Creditors Up To $16.5B: Is This Bullish For Bitcoin?</a></li>
</ul>

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

Cryptocurrency

News

Markets

Movers

Trading Ideas

$BTC

$DOGE

$ETH

NVDA

Bitcoin, Dogecoin Muted, Ethereum Gains Amid Stocks Rebound: Analyst Says ETH Surpassing BTC's Returns Inevitable — 'The Beast Will Take Over And Continue To Outperform'

Cathie Wood&#8217;s Ark Invest made significant trades in Amazon.com Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), Robinhood Markets Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>), and Coinbase Global Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>).
The Amazon Trade: Ark Invest purchased 76,505 shares of Amazon, despite recent concerns about the company&#8217;s growth trajectory. The trade was executed through its flagship ARK Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKK#NYSE">ARKK</a>).
This move came after <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41234873/amazon-stock-downgrade-by-wells-fargo-a-bearish-signal-on-growth-concerns">Wells Fargo downgraded</a> Amazon from Overweight to Equal-Weight, citing slowing growth and stiffer competition. The value of this trade, based on the closing price of $182.72, is approximately $13.98 million.
Amazon shares dropped Monday after Wells Fargo downgraded the stock, citing slowing growth and competition. The sell-off was <a href="https://www.benzinga.com/news/24/10/41216248/amazon-stock-is-sliding-monday-whats-going-on">also fueled</a> by a federal judge&#8217;s ruling allowing the FTC&#8217;s antitrust lawsuit against Amazon to proceed.
The Robinhood Trade: Ark Invest sold a total of 1,421,431 shares of Robinhood across three of its ETFs i.e. ARKK, ARK Next Generation Internet ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKW#NYSE">ARKW</a>) and Ark Fintech Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKF#NYSE">ARKF</a>). This decision came despite Robinhood&#8217;s recent announcement of its first investor day and the introduction of <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41236863/robinhood-eyes-major-growth-with-new-trading-features-while-coinbase-rides-crypto-s">new trading features</a>. The value of this trade, based on the closing price of $25.61, is approximately $36.4 million.
The Coinbase Trade: Ark Invest bought 12,994 shares of Coinbase through its ARKF ETF. This move aligns with the recent surge in Coinbase shares following the company&#8217;s announcement to <a href="https://www.benzinga.com/news/24/10/41191796/why-coinbase-global-shares-are-trading-higher-today">adjust its service offerings</a> in response to new European regulatory requirements. The value of this trade, based on the closing price of $167.69, is approximately $2.18 million.
See Also: <a href="https://www.benzinga.com/news/24/10/41208397/this-alibaba-analyst-turns-bullish-here-are-top-5-upgrades-for-monday?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">This Alibaba Analyst Turns Bullish; Here Are Top 5 Upgrades For Monday</a> 
Other Key Trades:
<ul>
<li>Ark purchased 2,365 shares of Meta Platforms Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) through its ARKW ETF. The Meta trade was valued at $1.4 million. On Tuesday, Meta shares closed 1.4% higher at $592.89.</li>
<li>Ark Invest sold shares of Veeva Systems Inc (VEEV) and shares of Vertex Pharmaceuticals Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRTX#NASDAQ">VRTX</a>) through its ARKG ETF. It bought shares of Recursion Pharmaceuticals Inc (RXRX) and shares of 10X Genomics Inc (TXG). </li>
</ul>
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41221351/elon-musks-theory-gains-ground-polymarket-odds-soar-for-nick-szabo-being-named-bitcoin-cre?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk&#8217;s Theory Gains Ground? Polymarket Odds Soar For Nick Szabo Being Named Bitcoin Creator Satoshi Nakamoto In HBO Documentary</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>

Equities

ETFs

AMZN

ARKF

ARKK

ARKW

COIN

HOOD

VRTX

Cathie Wood's Ark Invest Trades: Bets $14M On Amazon Shares — Dumps Robinhood Stock Worth $36M, Embraces Coinbase And Meta

Pfizer Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>) CEO Albert Bourla is set to meet with activist investor Starboard Value amid growing pressure to revitalize the pharmaceutical giant&#8217;s struggling share price and refine its strategic focus. The meeting comes as Starboard builds a $1 billion stake in Pfizer, equivalent to about 0.6% of the <a href="https://www.benzinga.com/markets/equities/24/10/41199793/amid-pfizers-struggles-with-declining-demand-for-covid-19-treatments-activist-investor-starboard">company&#8217;s $165 billion market value</a>.
What Happened: Bourla and at least one other director will hold talks with Starboard next week, following the revelation of the fund&#8217;s significant investment. The activist investor, led by CEO Jeff Smith, is calling for a strategy shift and has prepared an extensive slide deck outlining its turnaround plans, <a href="https://www.ft.com/content/38a73294-f6b0-48c8-a29a-8626c2da30d5">reported</a> the Financial Times citing people familiar with the matter.
The mounting pressure on Pfizer&#8217;s leadership comes as the company&#8217;s stock has <a href="https://www.benzinga.com/news/24/10/41212540/pfizer-stock-is-moving-higher-monday-whats-driving-the-action">fallen more than 30% over the past two years</a>, sinking below pre-pandemic levels. According to the report, critics argue that Pfizer has mismanaged its $92 billion COVID-19 windfall, particularly pointing to a costly $70 billion acquisition spree that has failed to boost the company&#8217;s valuation.
In an unusual twist, two of Pfizer&#8217;s former top executives, ex-CEO Ian Read and former CFO Frank D&#8217;Amelio, are reportedly collaborating with Starboard. The pair has reached out to at least four Pfizer directors, urging them to consider working with the activist investor, <a href="https://www.wsj.com/health/pharma/pfizer-ceos-job-is-at-risk-a-shot-of-discipline-could-help-1b210b18">reported</a> The Wall Street Journal.
Analysts and investors are speculating about potential management changes, with some receptive to the idea. However, others caution that a mere change at the top may not be sufficient to address Pfizer&#8217;s challenges, citing the importance of a promising drug pipeline for long-term success in the pharmaceutical industry.
"We've sensed investor frustration with CEO Albert Bourla since at least the beginning of 2023," BMO Capital Markets analyst&nbsp;Evan Seigerman&nbsp;wrote, according to WSJ.
Pfizer and Starboard Value did not immediately respond to&nbsp;<a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga</a>&#8216;s request for comment.
See Also: <a href="https://www.benzinga.com/news/24/10/41208397/this-alibaba-analyst-turns-bullish-here-are-top-5-upgrades-for-monday?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">This Alibaba Analyst Turns Bullish; Here Are Top 5 Upgrades For Monday</a>
Why It Matters: Starboard is expected to push for a more focused development strategy and deeper cost cuts beyond the $5.5 billion reduction already announced by Pfizer through 2027. Critics argue that Pfizer&#8217;s recent acquisitions, spanning neuroscience, blood disorders, and cancer, lack a clear, cohesive focus.
Bourla has acknowledged missing earnings expectations and weak commercial performance but maintains that investors haven&#8217;t fully appreciated the potential value of recent acquisitions, such as the $43 billion Seagen deal.
As pressure mounts, Bourla has shown signs of attentiveness to Wall Street critics. Earlier this year, he hired Andrew Baum, a former Pfizer bear at Citi, as chief strategy and innovation officer, in a move reminiscent of Novartis&#8216; hiring of outspoken analyst Ronny Gal.
In a bid to streamline its operations, Pfizer recently divested a $3.3 billion stake in Haleon, reducing its shareholding from 22.6% to 15%. Despite these efforts, the company remains <a href="https://www.benzinga.com/markets/equities/24/10/41112790/pfizer-divests-3-3b-stake-in-sensodyne-toothpaste-and-panadol-painkiller-maker-haleon">under pressure to deliver better financial returns</a> and strategic clarity.
Price Action: Pfizer&#8217;s stock closed on Tuesday at $29.18, down 0.068% during regular trading hours. However, in after-hours trading, the stock gained 0.31%. Year to date, Pfizer&#8217;s stock has fallen by 1.85%, according to <a href="https://www.benzinga.com/pro/">data from Benzinga Pro</a>.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/10/41201263/meta-stock-returns-pale-next-to-peter-thiels-secretive-data-company-even-as-mark-zuckerberg-comp?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Meta Stock Returns Pale Next To Peter Thiel&#8217;s Secretive Data Company Even As Mark Zuckerberg Company&#8217;s AI Advancements Generate Excitement</a></li>
</ul>
Image Via Shutterstock 
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/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Pfizer CEO Albert Bourla Set To Meet Activist Investor Starboard Value As Pressure Mounts To Revitalize Struggling Stock: Report

In the face of impending Hurricane Milton, Florida Governor Ron DeSantis has refuted claims made by Vice President Kamala Harris accusing him of &#8220;political gamesmanship&#8221;. DeSantis has labeled these accusations as &#8220;delusional&#8221;, following reports that he did not respond to Harris&#8217;s calls during the hurricane preparations.
What Happened: In a Fox News interview, confirmed his use of all available resources, including federal aid, to prepare for the hurricane expected to hit Florida on Wednesday. He also confirmed his ongoing communication with President Joe Biden and officials from the Federal Emergency Management Agency, <a href="https://thehill.com/homenews/state-watch/4921329-desantis-accuses-harris-political-gamesmanship/">reported</a> The Hill.
In response to Harris&#8217;s criticism, DeSantis stated, &#8220;And so for Kamala Harris to try to say that my sole focus on the people of Florida is somehow selfish, is delusional.&#8221; He accused Harris of trying to politicize the storm for her campaign.
See Also: <a href="https://www.benzinga.com/news/24/10/41195370/elon-musk-said-his-blood-was-boiling-after-fema-allegedly-didnt-allow-spacex-engineers-to-deliver-st?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Said His Blood Was &#8216;Boiling&#8217; After FEMA Allegedly Didn&#8217;t Allow SpaceX Engineers To Deliver Star</a>
Previously, Harris had expressed her concerns about DeSantis&#8217;s refusal to take her calls, accusing him of prioritizing political games over the welfare of the people. DeSantis, however, countered these accusations by emphasizing his focus on the people of Florida and his effective management of several storms during his tenure.
Why It Matters: Earlier, DeSantis <a href="https://www.benzinga.com/news/24/10/41219961/ron-desantis-denies-ignoring-kamala-harriss-calls-amid-hurricane-emergency-i-didnt-know-she-called-m">denied knowledge</a> of any calls made by Harris in the aftermath of Hurricane Helene. He claimed ignorance of Harris's calls during a press conference about the upcoming Hurricane Milton and suggested the calls "seemed political."
DeSantis&#8217;s handling of the hurricane situation and his relationship with the federal government could have significant implications for the welfare of Florida&#8217;s residents, especially as Hurricane Milton is expected to make landfall in Tampa, Florida on Wednesday evening.
Hurricane Milton, which reached Category 5 with winds of 180 mph before being downgraded to Category 4. President Biden emphasized evacuation efforts and federal support, while Tampa&#8217;s mayor dispelled rumors of insufficient resources. The storm could <a href="https://www.benzinga.com/markets/equities/24/10/41239644/hurricane-milton-evacuations-a-matter-of-life-and-death-biden-says-feds-bostic-says-storm-could-">significantly impact insurance and other sectors</a>, with damages possibly exceeding $50 billion.
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

Ron Desantis Says Kamala Harris Is 'Delusional' For Trying To Say His Sole Focus On People Of Florida Is Selfish Amid Phone Call Row

Tesla and SpaceX CEO Elon Musk&#8217;s social media platform, X, formerly Twitter, has been granted permission by Brazil&#8217;s Supreme Court to <a href="https://www.benzinga.com/news/24/09/40748476/fcc-chief-defends-elon-musks-x-and-starlink-amid-brazils-punitive-actions-warns-business-leaders-are">recommence its operations</a> in the country.
What Happened: On Tuesday, Brazil&#8217;s Supreme Court Justice Alexandre de&nbsp;Moraes confirmed that&nbsp;X had met all the&nbsp;necessary prerequisites to restart its operations in Brazil, reported Reuters.
In his ruling, Moraes directed Brazil&#8217;s telecommunications regulator Anatel to facilitate X&#8217;s return to online operations within 24 hours. However,&nbsp;as of 7 p.m. local&nbsp;time, users&nbsp;in Brazil were still unable&nbsp;to access the platform.
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/10/41199834/unreleased-m4-macbook-pro-shown-off-by-russian-youtuber-weve-seen-prototypes-leak-early-but-never-a?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Unreleased M4 MacBook Pro Shown Off By Russian YouTuber: &#8216;We&#8217;ve Seen Prototypes Leak Early But Never A Full Retail Apple Device Weeks In Advance,&#8217; Says Expert</a>
Following the decision, X&#8217;s Global Government Affairs handle on the platform said, &#8220;We will continue to defend freedom of speech, within the boundaries of the law, everywhere we operate.&#8221;
<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">X is proud to return to Brazil. Giving tens of millions of Brazilians access to our indispensable platform was paramount throughout this entire process. We will continue to defend freedom of speech, within the boundaries of the law, everywhere we operate. &#8212;&#8212;&#8212;&#8212;&#8212;&#8212;- O…
&mdash; Global Government Affairs (@GlobalAffairs) <a href="https://twitter.com/GlobalAffairs/status/1843773083783471139?ref_src=twsrc%5Etfw">October 8, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
This development follows a series of events that led to the suspension of X&#8217;s operations in Brazil. In late August, X was banned in Brazil due to a disagreement with a local judge over what <a href="https://www.benzinga.com/news/24/09/41062162/elon-musks-x-reportedly-aims-for-brazil-reentry-backs-down-from-censorship-dispute">Musk referred to as &#8220;censorship.&#8221;</a>
However, the tech mogul began to shift his stance later. His platform started&nbsp;blocking accounts flagged by the&nbsp;court, appointed a local representative, and <a href="https://www.benzinga.com/news/24/10/41201314/elon-musks-x-paid-5m-to-wrong-bank-in-brazil-delaying-reinstatement-of-its-services-in-the-country">paid outstanding fines</a>.
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: Previously, Meta Platforms, Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) Instagram and Facebook also faced regulatory challenges in Brazil, after the Latin American country prohibited it from using users&#8217; posts to train its AI models
According to Statista, as of the third quarter of 2023, WhatsApp led Brazil&#8217;s social media usage, with 93.4% of the online population using the platform. Instagram followed at 91.2%, while Facebook was used by 83.3% of internet users.&nbsp;
TikTok and Facebook Messenger had 65.1% and 60.8% usage, respectively, with Pinterest, Telegram, Kuaishou, and Twitter capturing smaller portions of the market.
Meta introduced WhatsApp&#8217;s native payment feature in Brazil in June 2020, but it was <a href="https://www.benzinga.com/government/22/04/26706461/metas-whatsapp-business-fund-transfer-hits-roadblock-in-brazil-ft">blocked by the Central Bank</a> due to authorization issues with Mastercard and Visa.
After nine months, person-to-person debit card transfers were allowed in March 2021, followed by credit card payments for small businesses in April 2023.
By June 2024, large companies could accept credit card payments, and Pix was added, marking a four-year journey to full availability.
Musk&#8217;s X also strives to become an &#8220;everything app,&#8221; which includes <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40229658/elon-musks-vision-for-x-everything-app-advances-could-dogecoin-skyrocket-with-payments-lau">shopping and payment features</a>.
Check out more of Benzinga's Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Image via Shutterstock
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/24/10/41200026/chinese-hackers-breach-at-t-verizon-networks-in-major-wiretap-data-theft-putting-us-national-securit?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Chinese Hackers Breach AT&amp;T, Verizon Networks In Major Wiretap Data Theft Putting US National Security At Risk: Report</a></li>
</ul>
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Social Media

Legal

Tech

Media

Elon Musk Vows To Defend Freedom Of Speech, But 'Within The Boundaries Of The Law' As X Gets Brazil Greenlight To Resume Operations

The hotly-awaited HBO documentary purportedly revealing the real identity of Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) creator Satoshi Nakamoto just aired, but does it truly unveil one of the most enduring mysteries of our time?
What happened:  The documentary titled &#8220;Money Electric: The Bitcoin Mystery,&#8221; directed by investigative filmmaker Cullen Hoback, has sparked interest ever since its cinematic trailer was dropped last week.
The documentary covers Bitcoin's roots and introduces various figures from the early days of its development, including Blockstream CEO Adam Back. 
Toward the end of the documentary, however, Hoback locks in on Bitcoin Core engineer Peter Todd, providing a series of hints that he may be the leading cryptocurrency&#8217;s secret inventor, <a href="https://decrypt.co/285252/im-not-satoshi-hbo-documentary-misfires-bitcoin">according</a> to Decrypt. 
Todd quickly took to X to deny the claim. &#8220;I&#8217;ve done a lot of things in life that have put me in the spotlight. Not my first rodeo. But this might be crazier than before,&#8221; he said in another post.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I&#39;m not Satoshi.
&mdash; Peter Todd (@peterktodd) <a href="https://twitter.com/peterktodd/status/1843789750983110697?ref_src=twsrc%5Etfw">October 8, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
&nbsp;
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41234336/crypto-com-takes-on-sec-in-legal-battle-after-receiving-wells-notice">Crypto.Com Takes On SEC In Legal Battle After Receiving Wells Notice</a>
Why It Matters: Satoshi Nakamoto is the alias for whoever wrote the Bitcoin <a href="https://bitcoin.org/bitcoin.pdf">whitepaper </a>and is credited with developing Bitcoin. Several persons have claimed or were believed to be Satoshi, but their genuine identity has never been confirmed or revealed.
Speculation over Nakamoto&#8217;s identity has long been a subject of intense speculation, with names of several technologists and computer scientists over the years, including Australian computer scientist Craig Wright, late American software developer Hal Finney, and Litecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/ltc/usd">LTC</a>) creator Charlie Lee, and Adam Back..
Preceding the reveal, betting odds saw wild fluctuation on who HBO would identify as Nakamoto. While late cypherpunk and privacy advocate Len Sassaman was <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41200679/len-sassaman-is-bitcoin-creator-satoshi-nakamoto-in-hbo-documentary-polymarket-punters-see">punters&#8217; favorite </a>earlier, the odds quickly <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41221351/elon-musks-theory-gains-ground-polymarket-odds-soar-for-nick-szabo-being-named-bitcoin-cre">shifted in favor</a> of Nick Szabo—another noted scientist from Bitcoin&#8217;s early evolution days. 
With Satoshi holding <a href="https://www.arkhamintelligence.com/research/who-owns-the-most-bitcoin-2023-edition">more than a million Bitcoins</a> (out of the 21 million total supply maximum), interested parties find a rational factor in seeking out their identity, as any movement of their holdings could drastically affect the coin&#8217;s price. 
Price Action: At the time of writing, Bitcoin was exchanging hands at $62,269.11, down 2.03% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>. &nbsp;
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41237292/bitcoin-ethereum-solana-projected-to-surge-by-2025-regardless-of-election-outcome-report">Bitcoin, Ethereum, Solana Projected To Surge By 2025, Regardless Of Election Outcome: Report</a></li>
</ul>

$LTC

Peter Todd Is Satoshi Nakamoto? Bitcoin Core Developer Denies HBO Documentary Claims: 'I'm Not Satoshi'

An Afghan national, based in Oklahoma City, has been charged with planning a terror attack in the United States on Election Day. The individual was allegedly acting on behalf of the Islamic State of Iraq and al-Sham (ISIS). Donald Trump Jr. reacted to the development.
<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">Donald Trump has been proven right AGAIN! <a href="https://t.co/CZPbv2T4wP">https://t.co/CZPbv2T4wP</a>
&mdash; Donald Trump Jr. (@DonaldJTrumpJr) <a href="https://twitter.com/DonaldJTrumpJr/status/1843806659942257080?ref_src=twsrc%5Etfw">October 9, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
The US Justice Department has brought charges against Nasir Ahmad Tawhedi, 27, for allegedly conspiring and attempting to provide material support to ISIS. Tawhedi is also accused of procuring firearms and ammunition for the intended attack. He reportedly took actions to liquidate his family&#8217;s assets, relocate his family members abroad, and acquire AK-47 assault rifles and ammunition.
The eldest child of former president Donald Trump said on X that his father has &#8220;been proven right&#8221; once again. Trump Jr. shared the news which described the person as having entered the United States on a &#8220;special immigrant visa&#8221; on Sept. 9, 2021.
&#8220;As charged, the Justice Department foiled the defendant's plot to acquire semi-automatic weapons and commit a violent attack in the name of ISIS on U.S. soil on Election Day,&#8221; stated Attorney General Merrick B. Garland.
See Also: <a href="https://www.benzinga.com/news/24/10/41220104/elon-musk-says-billionaires-supporting-kamala-harris-are-scared-epstein-list-will-be-made-public-if?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Says Billionaires Supporting Kamala Harris Are Scared Epstein List Will Be Made Public If Trump Returns To Power — Bill Gates Will Be Nervous</a>
According to the criminal complaint, Tawhedi was seen in a video reading to two children text that describes the rewards a martyr receives in the afterlife. He allegedly accessed, viewed, and saved ISIS propaganda on his iCloud and Google account, participated in pro-ISIS Telegram groups, and contributed to a charity which fronts for and funnels money to ISIS.
If convicted, he faces a maximum prison sentence of 20 years for conspiring and attempting to provide material support to ISIS, and a maximum of 15 years for receiving a firearm to be used to commit a felony or a federal crime of terrorism.
Photo Courtesy: Shutterstock.com
Check This Out:
<ul>
<li>Lawmakers Made Huge Investments This Year. <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>

Trump Jr. Says His Dad 'Has Been Proven Right Again' After FBI Foils Afghan National's Election Day Terror Plot

Betsey Stevenson, a former economic adviser to former President Barack Obama, has challenged the notion that <a href="https://www.benzinga.com/news/24/09/40744471/trumps-plan-to-ban-mortgages-for-undocumented-immigrants-sparks-debate-what-do-the-numbers-say">undocumented immigrants are readily obtaining mortgages</a> in the United States.
What Happened: Stevenson, now an economist at the University of Michigan, took to X, formerly Twitter, to address the issue. &#8220;Of all the anti-immigration myths, the idea that undocumented immigrants are applying for and getting mortgages is the craziest,&#8221; she wrote.
To illustrate her point, Stevenson cited the case of Ben Bernanke, former Federal Reserve chairman, who reportedly struggled to secure a mortgage after leaving his position due to difficulties documenting his income.
Responding to a claim about mission-oriented lenders providing mortgages without proof of legal presence, Stevenson acknowledged the existence of such practices for long-standing undocumented residents. However, she emphasized that recent border crossers are not &#8220;heading straight to the bank to buy a house.&#8221;
The debate highlights the complexities surrounding immigration and financial services in the U.S., with Stevenson&#8217;s comments shedding light on common misconceptions about undocumented immigrants&#8217; access to mortgages.
<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">Of all the anti-immigration myths, the idea that &#x2A;&#x2A;undocumented&#x2A;&#x2A; immigrants are applying for and getting mortgages is the craziest. When Ben Bernanke stepped down from the Federal Reserve Board he couldn&#39;t get a mortgage because he couldn&#39;t document his income well enough.
&mdash; Betsey Stevenson (@BetseyStevenson) <a href="https://twitter.com/BetseyStevenson/status/1843703735949897994?ref_src=twsrc%5Etfw">October 8, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also: <a href="https://www.benzinga.com/news/earnings/24/10/41161081/us-stocks-staring-at-another-weak-open-as-traders-await-key-jobs-report-sentiment-wavers-as-oil-ext?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Why Nasdaq, S&amp;P 500 Futures Are Trading Lower Thursday</a>
Why It Matters: The debate over undocumented immigrants and their access to mortgages has intensified in recent months. 
In early September, a proposal by former President Donald Trump to <a href="https://www.benzinga.com/news/24/09/40744471/trumps-plan-to-ban-mortgages-for-undocumented-immigrants-sparks-debate-what-do-the-numbers-say">ban mortgages for undocumented immigrants</a> sparked significant debate. The plan raised questions about the economic implications and the accuracy of claims regarding undocumented immigrants&#8217; access to financial services. 
Meanwhile, California is considering offering up to $150,000 in home loan <a href="https://www.benzinga.com/real-estate/24/09/40760293/california-could-soon-offer-undocumented-immigrants-up-to-150-000-in-home-loan-assistance-but-critic">assistance to undocumented immigrants</a>, a move that has drawn both support and criticism. Critics express concern over the potential financial burden on taxpayers. 
Additionally, the broader economic impact of undocumented immigration has been highlighted by figures like Nassim Taleb, who warned that curbing <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/39023220/undocumented-immigration-good-for-economy-black-swan-author-nassim-taleb-warns-any-">undocumented immigration could lead to inflation</a> due to the U.S.&#8217;s reliance on cheap labor. 
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/earnings/24/10/41224832/us-stocks-poised-to-bounce-back-as-bond-yields-dip-oil-prices-slide-pepsico-pulls-back-set-up-quite?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Nasdaq, S&amp;P 500 Futures On Track To Rebound Tuesday: What&#8217;s Driving Sentiment</a></li>
</ul>
Image Via Pixabay 
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Economics

Former Obama Adviser Points Out Chief Ben Bernanke Couldn't Get A Mortgage After He Left The Fed: 'Idea That Undocumented Immigrants Are Applying For And Getting Mortgages Is The Craziest'

In his soon-to-be-released book &#8220;War&#8221;, renowned journalist Bob Woodward uncovers a strained relationship between U.S. President Joe Biden and Israeli Prime Minister Benjamin Netanyahu.
What Happened: The book, scheduled for release on October 15, includes excerpts <a href="https://edition.cnn.com/2024/10/08/politics/bob-woodward-book-war-joe-biden-putin-netanyahu-trump/index.html">published</a> by CNN on Tuesday. These excerpts reveal Biden&#8217;s private objections to Netanyahu&#8217;s military operations in Gaza and Iran.
Woodward&#8217;s book discloses that Biden privately rebuked Netanyahu, branding him a &#8220;bad guy&#8221; and a &#8220;liar&#8221;. The U.S. President also reportedly showed dissatisfaction with Israel&#8217;s assassination of a Hezbollah military commander in Beirut, and questioned Israel&#8217;s global image.
Biden allegedly yelled at Netanyahu and said, &#8220;Bibi, what the f&#x2A;&#x2A;&#x2A;?" after the assassination.
&#8220;You know the perception of Israel around the world increasingly is that you're a rogue state, a rogue actor,&#8221; according to the author.
Netanyahu justified his actions, claiming the commander was a leading terrorist and that a firm stance would assist in negotiations. Woodward also noted that Biden had disparaging remarks about Netanyahu&#8217;s associates, labeling 18 out of 19 of them as &#8220;liars.&#8221;
White House deputy press secretary Emilie Simons said, on the relationship between Biden and Trump, &#8220;They have a long-term relationship. They have a very honest and direct relationship, and I don't have a comment on those specific anecdotes.&#8221;
See Also: <a href="https://www.benzinga.com/news/24/10/41201763/trumps-niece-says-potential-2nd-term-for-ex-president-will-be-focused-on-revenge-if-given-the-power?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump&#8217;s Niece Says Potential 2nd Term For Ex-President Will Be Focused On Revenge: &#8216;If Given The Power, He Will Have His Vengeance&#8217;</a>
Why It Matters: This revelation comes in the wake of several other significant disclosures from Woodward&#8217;s book. Earlier Benzinga reported that the book alleges former President Donald Trump <a href="https://www.benzinga.com/general/politics/24/10/41235596/trump-secretly-stayed-in-contact-with-putin-after-leaving-office-upcoming-bob-woodward-book-alle">maintained secret contact</a> with Russian President Vladimir Putin after leaving office.
Trump previously <a href="https://www.benzinga.com/news/22/10/29317698/trump-showed-love-letters-from-kim-jong-un-to-journalist-knowing-they-were-top-secret-report">showed &#8216;love letters&#8217; </a>from North Korean leader Kim Jong Un to Woodward, despite knowing they were classified.
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>

Biden Yelled And Swore At Israel PM Netanyahu, Reveals Woodward's New Book: 'You're A Rogue State'

VIRI

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

XPON

MicroCloud Hologram Inc. - Ordinary Shares

HOLO

VERB

Maxeon Solar Technologies, Ltd. - Ordinary Shares

MAXN

HOLOW

Vice President Kamala Harris has grown her lead over former President Donald Trump in a weekly head-to-head poll of likely voters with less than one month until the <a href="https://www.benzinga.com/topic/2024-election">2024 presidential election.</a>
What Happened: Harris has shown a lead over Trump in many election polls, while election betting odds <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41205762/donald-trump-takes-2-7-point-election-betting-odds-lead-over-kamala-harris-more-accurate-t">and prediction markets</a> have fluctuated to show a tight race as election day nears.
A new Morning Consult <a href="https://pro.morningconsult.com/trackers/2024-presidential-election-polling">poll </a>of likely voters shows Harris' lead tying a record high six points, a lead she had after the presidential debate between the two candidates in September.
The new poll shows the following results from voters, with the results from the<a href="https://www.benzinga.com/general/politics/24/10/41132643/harris-vs-trump-vice-president-leads-former-president-by-5-points-walz-favorability-rating-tops-"> Oct. 1 poll</a> in parentheses:
<ul>
<li>Kamala Harris: 51% (51%)</li>
<li>Donald Trump: 45% (46%)</li>
<li>Someone Else: 2% (2%)</li>
<li>Don't Know: 2% (2%)</li>
</ul>
The poll also found that 94% of Democrats backed Harris as their top pick, in line with last week's poll. The poll also found 92% of Republicans backed Trump as their top pick, in line with last week's poll.
Independent voters selected the following as their head-to-head preference, with the results from the Oct. 1 poll in parentheses:
<ul>
<li>Kamala Harris: 45% (45%)</li>
<li>Donald Trump: 44% (44%)</li>
<li>Someone Else: 5% (5%)</li>
<li>Don't Know: 5% (5%)</li>
</ul>
The vice president also has the edge in the 18-34 age voters demographic, leading 53% to 43%. The 10-point lead is in line with last week's lead, but down from a lead of 15 points three weeks ago.  
Among Black voters, Harris leads by 77% to 19%, in line with last week's poll.
Did You Know?
<ul>
<li>Congress Is Making Huge Investments.&nbsp;<a href="https://www.benzinga.com/gov-trades/?utm_source=BZprocontent100824" 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>
Why It&#8217;s Important: Harris ties her record lead, which comes as good news given the predicted tight race and the timing of election day nearing.
The latest poll comes after the vice-presidential debate between Tim Walz and J.D. Vance, which many media outlets and polls showed Republican Vance <a href="https://www.benzinga.com/general/politics/24/10/41151403/walz-vs-vance-who-won-vp-debate-and-could-the-outcome-shift-2024-election-for-harris-or-trump">as the winner</a>. The latest poll shows that the vice president debate may have had minimal impact on the overall election race.
The bad news for Harris is that Trump continues to show gains or hold his gains from last week among several key demographics, including Independent voters.
Harris had posted a stronger lead among the key Independent voter demographic for several weeks before holding onto a minimal one-point advantage in back-to-back weeks.
The vice president debate shifted favorability rankings with Vance going from 39% to 40% and Walz going from 45% to 48%. Vance saw his best net buzz rating, or the amount of people hearing positive comments about him minus the amount hearing something negative, since joining the Trump ticket.
One likely positive for Harris is the <a href="https://www.benzinga.com/economics/macro-economic-events/24/10/41184080/us-economy-adds-254-000-new-jobs-in-september-smashes-expectations-unemployment-f">impressive jobs report </a>last week that saw a higher-than-expected figure. The result was the election poll showing net buzz on jobs (+12) and economy (-6) hitting highs not seen since February and March of 2024, respectively.
Another potential negative for Harris is her net buzz falling below double digits for the first time since she became the Democratic Party nominee. This means that the amount of negative comments about her may be increasing or positive commentary is wearing off.
Harris <a href="https://www.benzinga.com/general/entertainment/24/10/41214476/will-kamala-harriss-media-blitz-including-60-minutes-and-call-her-daddy-improve-her-2024-el">ramped up efforts </a>to be more present with the media this week with appearances on the Call Her Daddy podcast, "60 Minutes," "The Howard Stern Show," "The View" and taking part in a Town Hall.
Next week's poll could show if the media blitz efforts paid off for the vice president.
Check This Out:
<ul>
<li>Lawmakers Made Huge Investments This Year. <a href="https://www.benzinga.com/gov-trades/?utm_source=BZprocontent100824">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>
Photo: Shutterstock

Harris Vs. Trump: Vice President Hits Record Lead In 2024 Election Poll, But Independent Voters Could Be Worrisome

The 2024 Benzinga Cannabis Award winners were announced during a celebratory event Tuesday at the end of the first day of the <a href="https://www.benzinga.com/events/cannabis-conference/">Benzinga Cannabis Capital Conference</a>. The awards recognized leading individuals and companies for their exceptional contributions to the cannabis industry.
<h3 class="wp-block-heading">Michael Berger Capital Markets Award: Todd Harrison, CB1 Capital</h3>
Named in honor of the late Michael Berger, founder of Technical420, this award recognizes leadership and excellence in capital markets. The 2024 recipient is Todd Harrison, founder of CB1 Capital, which specializes in cannabinoid-based wellness solutions and therapies.
With a focus on educating and informing the public, Harrison and CB1 Capital have advanced investment strategies across several verticals, including biopharmaceuticals, extraction, cultivation, and more. Harrison&#8217;s work is driven by a belief in the vast potential of cannabinoid therapies.
<h3 class="wp-block-heading">Friend of the Industry Award: Cory Gardner</h3>
Cory Gardner, former U.S. senator and longtime advocate for bipartisan cannabis reform, received the Friend of the Industry Award. Gardner's legislative career included efforts to advance cannabis policy reform, helping to bring cannabis discussions into mainstream political dialogue.
Gardner, a Colorado native and former member of both the U.S. House of Representatives and Senate, was recognized for his consistent support of cannabis legislation throughout his time in public service. His work has helped pave the way for many of the cannabis reforms seen today.
Also Read: <a href="https://www.benzinga.com/markets/cannabis/24/10/41232375/green-check-surpasses-1b-in-monthly-cannabis-sales-deposits-expands-financial-network-in-q3-2024">Green Check Surpasses $1B In Monthly Cannabis Sales Deposits, Expands Financial Network In Q3 2024</a>
<h3 class="wp-block-heading">Cannabis Journalism Award: Debra Borchardt, Green Market Report</h3>
Debra Borchardt, co-founder of Green Market Report, was honored with the Cannabis Journalism Award. Borchardt, an award-winning journalist with deep expertise in both finance and cannabis, has become a prominent voice in cannabis reporting. With a background on Wall Street and a Master's Degree in Financial Reporting from NYU, Borchardt's work has consistently delivered critical and accurate reporting on the cannabis industry.
Her dedication to clear, fact-driven journalism has earned her respect and recognition within both the financial and cannabis communities.
<h3 class="wp-block-heading">Bob Fireman Award for Entrepreneurship: Loriel Alegrete, 40 Tons</h3>
The Bob Fireman Award for Entrepreneurship went to Loriel Alegrete, CEO and co-founder of 40 Tons, a cannabis company dedicated to social justice and diversity within the industry. Alegrete has led efforts to not only build a successful cannabis brand but also bring attention to the need for greater social equity and support for individuals impacted by past cannabis convictions.
Through her leadership, 40 Tons has become a brand committed to ethical sourcing and community engagement. Alegrete's dedication to creating career opportunities for underserved communities and supporting cannabis education has left a lasting mark on the industry.
<h3 class="wp-block-heading">Want More?</h3>
As day two gets underway Wednesday in Chicago, the <a href="https://www.benzinga.com/events/cannabis-conference/">Benzinga Cannabis Capital Conference</a> will continue with more panels, discussions, and opportunities for industry leaders to collaborate. Here&#8217;s where to find out more about the conference and the event&#8217;s impact.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/cannabis/24/10/41233018/exclusive-ross-gerber-sees-tsunami-of-money-pouring-into-cannabis-companies-upon-federal-legaliz">EXCLUSIVE: Ross Gerber Sees &#8216;Tsunami Of Money&#8217; Pouring Into Cannabis Companies Upon Federal Legalization, Says Cannabis Is One Of &#8216;Biggest&#8217; Opportunities Beyond AI</a></li>
</ul>
Photo by Wendy Davis.

Cannabis

Events

Exclusives

2024 Benzinga Cannabis Awards Winners Celebrated For Industry Leadership, Innovation

Alexa Alianiello, who serves as the head of cannabis at X, welcomes the idea her company is a pioneer in the space and it offers branding opportunities for companies that can't advertise <a href="https://www.benzinga.com/markets/cannabis/24/04/38114685/exclusive-x-fmr-twitter-exec-explains-why-storytelling-authenticity-are-the-future-of-cannabis-m">their products elsewhere.</a>
The X Vision: Alianiello said X's vision is to "help bring civilization forward through information sharing and dialogue," during a fireside chat at the <a href="https://www.benzinga.com/events/cannabis-conference/">Benzinga Cannabis Capital Conference on Oct. 8.</a>
X tries to be a trusted source of information, Alianiello told the crowd after being asked about the upcoming 2024 presidential election.
Alianiello said X preserves the integrity of information that's flowing while also making sure there is a free expression of information.
It's that free expression that makes X the only major social media platform to allow cannabis advertising and for users to regularly discuss the sector.
"We are a safe space for conversation around cannabis," Alianiello said.
Alianiello said users can talk about the legal landscape of the sector, social justice issues and brands and products.
"It really is the only social platform where you can talk about cannabis openly."
Alianiello, who has been featured at several Benzinga cannabis events, told the crowd the Benzinga Cannabis Capital Conference is "just the best event for having an ear to the ground."
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/10/41233018/exclusive-ross-gerber-sees-tsunami-of-money-pouring-into-cannabis-companies-upon-federal-legaliz">EXCLUSIVE: Ross Gerber Sees &#8216;Tsunami Of Money&#8217; Pouring Into Cannabis Companies Upon Federal Legalization, Says Cannabis Is One Of &#8216;Biggest&#8217; Opportunities Beyond AI</a>
The X Opportunity: Alianiello said X is where people are coming for information and that they "can say weed" on the platform.
The social media company, which was acquired by Elon Musk for $44 billion in 2022, is welcoming cannabis companies to advertise and target users for their products.
"We're helping normalize these products," Alianiello said.
Alianiello said she has been told by brands that X is driving results for them, something she is incredibly proud of.
"The platform welcomes everyone."
Alianiello said there are 40 million posts on X annually about cannabis.
"There is a real opportunity to reach people."
While X is welcome to cannabis advertising, other social media platforms haven't dove fully in and might not be soon. Alianiello said she has talked to other platforms and they are getting more interested.
"We know that it works. We're excited to kind of be pioneers in the space."
X is the place to get information in front of a large public audience and a place where cannabis conversation is welcome, Alianiello added.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/cannabis/24/10/41237545/exclusive-weed-companies-will-be-treated-like-normal-businesses-once-this-tax-provision-goes-awa">EXCLUSIVE: Weed Companies Will Be Treated Like Normal Businesses Once This Tax Provision Goes Away, Experts Say</a></li>
</ul>
Photo: Alexa Alianiello, Brett Puffenbarger, Benzinga Cannabis Capital Conference, Oct. 8. Photo by Wendy Davis.

EXCLUSIVE: Elon Musk's X Is 'Safe Space' To Say Weed: 'The Only Social Platform Where You Can Talk About Cannabis Openly'

Rescheduling is "not a Panacea to all the problems of the industry" and would not make the issue of oversaturation and lack of investor capital go away, Frank Segall, co-chair of cannabis practice at Blank Rome, told the crowd gathered at the <a href="https://www.google.com/url?q=https://www.benzinga.com/events/cannabis-conference/&amp;sa=D&amp;source=docs&amp;ust=1728424361840576&amp;usg=AOvVaw1ND2uKc7pNLpMdV9WsPfvC">Benzinga Cannabis Capital Conference</a> in Chicago on Tuesday. He was part of the panel, &#8220;Consolidation Trends in the Wake of Cannabis Rescheduling: Identifying Winners and Losers.&#8221;
While it would impact positively the balance sheets of many operators by eradicating restrictions of Section 280E of the Internal Revenue Code and attracting some capital, the shift of cannabis to Schedule III would not result in big players like Wells Fargo crossing over to the marijuana industry, Segall said.
"Legalization is what they&#8217;re mandating for them to cross over," he added.
Segall, alongside three other experts, joined the panel moderated by Scott Greiper, founder and president at Viridian Capital Advisors, to discuss broader market consolidation trends following cannabis&#8217;s shift to Schedule III.
Alongside Segall, Pablo Zuanic, managing partner at Zuanic &amp; Associates LLC; Barbara Webb, tax partner at MGO and Laura Bianchi, co-founder of Bianchi &amp; Brandt discussed which types of companies are positioned to thrive and which are not, as well as how investors can identify solid bets in the new regulatory landscape while avoiding pitfalls in a competitive market.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/events/cannabis-conference/"><img loading="lazy" decoding="async" width="970" height="250" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/08170959/ccc-oct-24-banner__1_-18.gif" alt="" class="wp-image-586477" /></a></figure>
Zuanic &amp; Associates&#8217; Zuanic said that even though two presidential candidates favor <a href="https://www.benzinga.com/markets/cannabis/24/09/40938172/no-turning-back-now-cannabis-rescheduling-gains-momentum-expert-offers-timeline">rescheduling</a> and a <a href="https://www.benzinga.com/markets/cannabis/24/08/40653233/national-cannabis-roundtable-applauds-deas-move-december-hearing-on-rescheduling-set">DEA hearing</a> on the horizon — with signals the policy shift could happen next year — there's a drop in investor interest in the space. That's compared to the past four years.
"I think that we are getting all a bit ahead of ourselves in terms of optimism here," he said.
Zuanic added the reason why consolidation is not taking place is that valuations are depressed in addition to uncertainty around what rescheduling would really bring. He said the main benefit of rescheduling is making 280E go away.
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/10/41237545/exclusive-weed-companies-will-be-treated-like-normal-businesses-once-this-tax-provision-goes-awa">EXCLUSIVE: Weed Companies Will Be Treated Like Normal Businesses Once This Tax Provision Goes Away, Experts Say</a>
<ul>
<li>Get Benzinga's exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter <a href="https://newsletteremail.benzinga.com/subscribe" target="_blank" rel="noreferrer noopener">here</a>. If you're serious about the business, you can't afford to miss out.</li>
</ul>
<h1 class="wp-block-heading">Not Paying Taxes Is Not A Good Idea: Here's Why</h1>
That said, MGO&#8217;s Webb highlighted many cannabis companies are not paying their taxes, which could be counterproductive for operators if cannabis rescheduling takes place. "It&#8217;s a temporary survival tactic, but you can&#8217;t do that forever," she said, adding "the IRS eventually catches up."
Consequences could seriously affect business growth in the long run.
"You might be able to get an installment plan once they do catch up with you," Webb explained. "However, once on an installment plan, a cannabis business not only have to regularly, never miss a payment pay, but also stay current on your current year&#8217;s estimated taxes, which is a huge cash commitment."
Webb added companies that are going to be "superstars" post-rescheduling are cash flow positive with 280E.
The tactic of not paying taxes will have serious consequences when it comes to M&amp;A activity in the space, Bianchi &amp; Brandt&#8217;s Bianchi said. "That&#8217;s going to have a drastic effect on M&amp;A in the future because it&#8217;s already been an issue," she said.
<h1 class="wp-block-heading">Which Acquisitions Are and Will Be Hot</h1>
Speaking of acquisition targets, Bianchi said some buyers are looking at distressed assets, mainly businesses that have difficulties operationally and are not avoiding paying taxes.
She also said the trend of huge deals is over. "We&#8217;re dealing with more creative companies coming together and maybe joint ventures," Bianchi added.
Zuanic &amp; Associates&#8217; Zuanic said that &#8220;there's too much overlap" in deals where one multi-state operator is buying another one. Instead, he proposes brands as acquisition targets.
Brands are and will be a key point of M&amp;A activity, especially in the scenario where interstate commerce is legal, he continued.
Read Next:
<ul>
<li>EXCLUSIVE: <a href="https://www.benzinga.com/markets/cannabis/24/10/41239355/exclusive-former-congressman-ed-perlmutter-predicts-2024-election-results-and-their-impact-on-ca">Former Congressman Ed Perlmutter Predicts 2024 Election Results And Their Impact On Cannabis Reform</a></li>
</ul>
Photo: Benzinga Cannabis Conference &#8220;Consolidation Trends in the Wake of Cannabis Rescheduling: Identifying Winners and Losers,&#8221; Photo by Wendy Davis.

Government

Regulations

Financing

EXCLUSIVE: Cannabis Rescheduling Is Not Cure-All For Industry Problems: Experts Explain How Tax Tactics Could Hurt Marijuana Businesses In Long Run

Mikolaichik replaces Interim Chief Financial Officer James Forrester, Jr., who will remain with the Company through the end of the year to help ensure a smooth transition.

Management

PRKS

United Parks & Resorts Names James Mikolaichik To Assume The Role Of CFO And Treasurer Effective Nov. 11, 2024

Software-as-a-service (SaaS) industry is thriving owing to its versatility, cost-effectiveness, ease of access, and increased investments. Hence, investors could add Smartsheet (SMAR), CCC Intelligent Solutions (CCCS), and DocuSign (DOCU) to their portfolios, as these stocks show great growth potential. Read on… Software-as-a-service or SaaS leads in cloud computing for its versatility, scalability, cost-effectiveness, seamless integration, global accessibility, and customer support. Modern enterprises rely on SaaS for efficiency and innovation, benefiting from its adaptability, collaborative tools, and robust security.
Given the ongoing digital transformation, investors may want to closely monitor strong SaaS stocks Smartsheet Inc. (<a href="https://stocknews.com/stock/SMAR/">SMAR</a>), CCC Intelligent Solutions Holdings Inc. (<a href="https://stocknews.com/stock/CCCS/">CCCS</a>), and DocuSign, Inc. (<a href="https://stocknews.com/stock/DOCU/">DOCU</a>). These companies seem well-positioned to capitalize on the expanding opportunities in the sector.
Cloud-based software services are now dominating over traditional software applications. Enterprises are investing in digital transformation, adopting trends like Vertical SaaS, DaaS, and iPaaS to enhance system connectivity, manage data effectively, and meet rising industry needs.
Hence, Gartner predicts SaaS spending will grow by 20% this year, <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=SaaS%20spending%20is%20projected%20to,consumption%20model%2C%E2%80%9D%20said%20Nag.">reaching $247.20 billion</a>. Supporting this growth, the <a href="https://federalnewsnetwork.com/acquisition-policy/2024/03/gsa-aims-to-make-buying-saas-easier-through-new-policy/?readmore=1">General Services Administration's policy change</a> enables governments to more easily adopt software through upfront payments, strengthening market stability and attracting greater investment opportunities in the expanding SaaS landscape.
Looking forward, according to a report published by Research and Markets, the global SaaS market is projected to grow at a <a href="https://www.researchandmarkets.com/reports/5939098/software-service-saas-global-market-report">CAGR of 6.2%</a>, reaching $325.84 billion by 2028, reflecting its dynamic growth and innovation potential.
Given the SaaS industry's positive trends, let's dive deeper into the fundamentals of three growth-heavy <a href="https://stocknews.com/category/software-saas/">Software – SAAS</a> stocks starting with #3.
Stock #3: Smartsheet Inc. (<a href="https://stocknews.com/stock/SMAR/">SMAR</a>)
SMAR provides a work management platform for organizations, allowing them to plan, capture, manage, automate, and report on work at scale. The cloud-based software is delivered globally through a subscription model, offering products like Smartsheet, WorkApps, and Premium Apps and Connectors for business work management needs.
On July 9, SMAR <a href="https://investors.smartsheet.com/news/news-details/2024/Smartsheet-Integrates-Amazon-Q-on-AWS-to-Implement-New-Generative-AI-Powered-Assistant-for-its-Employees/default.aspx">introduced Amazon Q Business</a>, an AI-powered assistant aimed at enhancing knowledge management and boosting productivity within its cloud operations. The implementation underscores SMAR's commitment to leveraging cutting-edge technology to improve employee efficiency and elevate customer service standards.
On May 14, SMAR unveiled <a href="https://investors.smartsheet.com/news/news-details/2024/Smartsheet-Empowers-Enterprises-to-Make-Smart-Decisions-and-Get-Results-Faster-with-Updates-to-its-Next-Generation-Work-Management-Platform/default.aspx">new AI and resource management features</a>, offering businesses actionable insights and improved operational visibility. In the rapidly growing AI sector, SMAR continues to solidify its market presence by integrating advanced technologies that support business growth and innovation across industries.
During the fiscal 2025 second quarter that ended July 31, 2024, SMAR's total revenue increased 17.3% year-over-year to $276.41 million. Its non-GAAP operating income rose 135.7% from the year-ago value to $45.30 million.
Moreover, the company's non-GAAP net income and non-GAAP net income per share grew 180% and 175% from the prior year's quarter to $61.64 million and $0.44, respectively.
Analysts expect SMAR's revenue and EPS for the fiscal 2025 third quarter (ending October 2024) to grow 15.4% and 90.3% year-over-year to $283.85 million and $0.30, respectively. Also, the company has topped the consensus revenue and EPS estimates in each of the trailing four quarters, which is impressive.
Shares of SMAR have gained 16.4% over the past three months and 21.1% over the past six months to close the last trading session at $50.56.
SMAR's bright prospects are reflected in its <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a>. The stock has an overall rating of B, which translates to a Buy in our proprietary rating system. The POWR Ratings are calculated by considering 118 different factors, each weighted to an optimal degree.
SMAR has an A grade for Growth and Sentiment and a B for Quality. It is ranked #5 out of 18 stocks in the A-rated <a href="https://stocknews.com/category/software-saas/">Software – SAAS</a> industry.
To see SMAR's Value, Momentum, and Stability ratings, <a href="https://stocknews.com/stock/SMAR/">click here</a>.
Stock #2: CCC Intelligent Solutions Holdings Inc. (<a href="https://stocknews.com/stock/CCCS/">CCCS</a>)
CCCS provides software-as-a-service (SaaS) platform for the property and casualty (P&amp;C) insurance economy. The company's cloud-based software serves as a service platform connecting trading partners, facilitating commerce, and enabling digital workflow across the platform through artificial intelligence.
On September 4, CCCS <a href="https://ir.cccis.com/news-releases/news-release-details/ccc-launches-cccr-payroll-streamline-payroll-management">launched CCC&#xAE; Payroll</a>, a solution to streamline payroll management for collision repair shops. By integrating this into the CCC ONE&#xAE; Platform, CCCS enhances operational efficiency for businesses. The innovation could strengthen CCCS' market position, driving customer adoption and fostering growth.
On July 30, CCCS <a href="https://ir.cccis.com/news-releases/news-release-details/ccc-launches-cccr-intelligent-reinspection-help-auto-insurers">introduced CCC&#xAE; Intelligent Reinspection</a>, which uses AI to streamline auto insurers' repair estimate reviews. By automating and simplifying workflows, CCCS is tapping into the AI revolution, helping secure a larger market share and paving the way for further expansion and technological advancement.
CCCS' revenues for the fiscal 2024 second quarter that ended June 30, 2024, increased 9.9% year-over-year to $232.62 million. It reported an adjusted gross profit of $182.08 million, indicating a 12.4% growth from the prior year quarter with an adjusted gross profit margin of 78%.
In addition, the company's <a href="https://www.investopedia.com/ask/answers/010715/what-being-adjusted-adjusted-net-income.asp">adjusted net income</a> came in at $56.19 million or $0.09 per share, up 17.4% and 28.6% year-over-year, respectively. Also, its adjusted EBITDA increased 18.4% year-over-year, amounting to $95.79 million.
The consensus revenue and EPS estimates of $237.36 million and $0.09 for the fiscal third quarter (ending September 2024) represent a 7.3% and 2% year-over-year increase, respectively. Moreover, CCCS has an impressive surprise history; it surpassed the expected revenue and EPS estimates in each of the four trailing quarters.
The stock has gained 5.8% over the past month to close the last trading session at $10.75.
CCCS' POWR Ratings reflect its promising outlook. The stock has an overall rating of B, which equates to Buy in our proprietary rating system.
CCCS has a B grade for Growth, Stability, and Sentiment. It is ranked #3 out of 18 stocks in the Software – SAAS industry.
<a href="https://stocknews.com/stock/CCCS/">Click here</a> to see the other ratings of CCCS for Value, Momentum, and Quality.
Stock #1: DocuSign, Inc. (<a href="https://stocknews.com/stock/DOCU/">DOCU</a>)
DOCU offers electronic signature products, allowing agreements to be signed globally from various devices. The company's products include eSignature, Contract Lifecycle Management, Gen for Salesforce, Identify and Monitor, and Document Generation.
On June 4, DOCU <a href="https://investor.docusign.com/investors/press-releases/press-release-details/2024/Docusign-Introduces-New-Connector-for-SAP-Ariba-Solutions-at-SAP-Sapphire/default.aspx">announced a new Connector</a> for SAP Ariba solutions, automating workflows between DOCU's CLM and SAP Ariba to streamline the source-to-pay process. Available globally in September, this innovation solidifies DOCU's leadership in e-signature technology and strengthens its market presence.
On May 31, DOCU <a href="https://investor.docusign.com/investors/press-releases/press-release-details/2024/Docusign-Completes-Acquisition-of-Lexion-to-Accelerate-Intelligent-Agreement-Management/default.aspx">completed its acquisition</a> of Lexion, an AI-powered agreement management company. The strategic move would enhance DOCU's Intelligent Agreement Management (IAM) capabilities, allowing DOCU to offer advanced AI-assisted solutions and further solidify its position in the rapidly growing IAM space.
DOCU's total revenues for the fiscal 2025 second quarter that ended July 31, 2024, rose 7% year-over-year to $736.03 million. The company's non-GAAP income from operations stood at $236.16 million, up 39.6% from the previous year's quarter.
Additionally, DOCU's non-GAAP net income came in at $200.99 million and $0.97 per share, representing increases of 34.3% and 34.7% year-over-year, respectively.
Street expects DOCU's revenue and EPS for the fiscal 2025 third quarter (ending October 2024) to increase 6.4% and 10.2% year-over-year to $745.31 million and $0.87, respectively. Additionally, the company surpassed the consensus EPS estimates in each of the trailing four quarters, which is impressive.
Shares of DOCU have gained 10.1% over the past three months and 21.8% over the past year to close the last trading session at $56.49.
DOCU's POWR Ratings reflect strong prospects. The stock has an overall rating of A, translating to a Strong Buy in our proprietary rating system.
DOCU has an A grade for Quality and a B for Value and Growth. It has topped the Software – SaaS industry.
Beyond what we stated above, we have also given DOCU grades for Momentum, Stability, and Sentiment. Get all the DOCU's ratings <a href="https://stocknews.com/stock/DOCU/">here</a>.
What To Do Next?
Discover 10 widely held stocks that our proprietary model shows have tremendous downside potential. Please make sure none of these "death trap" stocks are lurking in your portfolio:
<a href="https://report.stocknews.com/free-report/10-stocks-to-sell/?formplacement=artbotad_10sell">10 Stocks to SELL NOW! &gt;</a>

<hr />
DOCU shares rose $1.29 (+2.28%) in premarket trading Friday. Year-to-date, DOCU has declined -4.98%, versus a 18.37% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Aanchal Sugandh</h2> <img src='https:/wp-content/uploads/2022/12/Aanchal-Sugandh_Headshot.jpg' style="float:left; padding:5px;width:125px;">Aanchal's passion for financial markets drives her work as an investment analyst and journalist. She earned her bachelor's degree in finance and is pursuing the CFA program.

She is proficient at assessing the long-term prospects of stocks with her fundamental analysis skills. Her goal is to help investors build portfolios with sustainable returns.<a href="https://stocknews.com/authors/?author=aanchal-sugandh">More...</a>The post <a href=https://stocknews.com/news/docu-smar-cccs-3-growth-stocks-in-the-saas-space-that-are-set/>3 Growth Stocks in the SaaS Space That Are Set to Soar</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

3 Growth Stocks in the SaaS Space That Are Set to Soar

Palantir Technologies (PLTR) delivered robust financial results and expanded operations through strategic partnerships and multi-year contracts in the second quarter. While the company's growing product demand, strategic initiatives, and innovations contribute to its continued growth, the stock is at an elevated valuation. So, let's determine whether Palantir is an ideal addition to your portfolio. Read more to find out... Palantir Technologies Inc. (<a href="https://stocknews.com/stock/PLTR/">PLTR</a>) builds and deploys software platforms for the intelligence community to help with counterterrorism investigations and operations. In the last reported quarter, the company surpassed analyst revenue and earnings expectations. PLTR reported revenue of $678.13 million, topping analysts' estimate of $652.42 million, and its EPS of $0.09, which also surpassed analysts' estimates.
Palantir caters to a wide range of customers, including government and other commercial organizations. During the second quarter, its US government revenue showed growth of 24% year-over-year to $278 million, and its commercial revenue grew 33% year-over-year to $307 million. Also, the company finalized 27 deals worth over $10 million, and its customer count rose 41% year-over-year.
In the recent period, PLTR entered into multiple strategic partnerships with companies, including Microsoft (<a href="https://stocknews.com/stock/MSFT/">MSFT</a>), BP (<a href="https://stocknews.com/stock/BP/">BP</a>), and Tree Energy Solutions, to accelerate their AI-integrated solutions and operations. Also, the company has contracted to provide data integration and AI solutions to drive digital transformation for customers.
PLTR is among the enterprises that have benefitted exponentially from the Artificial Intelligence (AI) revolution. Last year, it launched its Artificial Intelligence Platform (AIP), which has helped the company achieve faster sales growth. Also, with the solid growth trajectory of the Artificial Intelligence market, poised to grow at a <a href="https://www.marketsandmarkets.com/Market-Reports/artificial-intelligence-market-74851580.html">CAGR of 35.7%</a> to reach $1.34 trillion by 2030, Palantir's prospects are promising.
However, rising competition and an increasing number of companies engaged in software development and innovations might affect PLTR's market share and current market dominance.
Shares of PLTR have surged 41.3% over the past six months and 123.9% over the past year to close its last trading session at $34.91.
Let's look at factors that could influence PLTR performance in the upcoming months.
Positive Recent Developments
On September 9, PLTR and BP extended their strategic relationship by entering into an enterprise agreement to introduce new artificial intelligence capabilities through Palantir's AIP software. The new contract is built on a decade of deep collaboration that has created a firm foundation for BP's oil and gas production operations using PLTR's industry-leading software.
Through the collaboration, Palantir's AIP software will help BP harness large language models (LLMs) to enhance and accelerate human decision-making with suggested courses of action through automated analysis of the underlying data.
On August 8, PLTR and Microsoft Corporation announced a significant advancement in their partnership to bring sophisticated and secure cloud, AI, and analytics capabilities to the U.S. Defense and Intelligence Community.
This first-of-its-kind integrated technology enables critical national security missions to operationalize Microsoft's best-in-class LLMs through Azure OpenAI (AOAI) Service within PLTR's AI Platform in Microsoft's government and classified cloud environments.
Robust Financials
For the second quarter that ended June 30, 2024, PLTR's revenue increased 27.1% year-over-year to $678.13 million, and its gross profit rose 17.1% year-over-year to $549.57 million. The company's adjusted income from operations of $253.57 million reflects growth of 87.8% from the year-ago value.
In addition, the company's adjusted net income attributable to common stockholders and adjusted EPS came in at $221.41 million and $0.09, up 85.2% and 80% from the prior year's quarter, respectively. PLTR's <a href="https://www.investopedia.com/terms/a/adjusted-ebitda.asp">adjusted EBITDA</a> increased 82.4% year-over-year to $261.62 million.
Also, the company's adjusted free cash flow improved 54.8% from the prior-year quarter to $148.66 million.
Positive Analyst Estimates
Analysts expect PLTR's revenue for the third quarter (ending September 2024) to grow 26.1% year-over-year to $703.69 million. The consensus EPS estimate of $0.09 for the same period reflects a 29.8% year-over-year improvement. Also, it has an impressive earnings surprise history, having topped consensus revenue and EPS estimates in each of the trailing four quarters.
For the fiscal year ending December 2024, the company's revenue and EPS are expected to grow 24% and 42% year-over-year to $2.76 billion and $0.36, respectively. Additionally, Street expects its revenue and EPS for the fiscal year 2025 to increase 20.3% and 21.4% year-over-year to $3.32 billion and $0.43, respectively.
High Profitability
PLTR's trailing-12-month gross profit margin of 81.39% is 64.2% higher than the industry average of 49.58%. Its trailing-12-month net income margin of 16.32% is significantly higher than the industry average of 3.79%. Further, the stock's trailing-12-month EBIT margin of 11.78% is 134.8% higher than the industry average of 5.02%.
Furthermore, the stock's trailing-12-month ROCE, ROTC, and ROTA of 11.55%, 4.75%, and 7.79% are favorable compared to the industry averages of 4.59%, 2.73%, and 2.17%, respectively.
Elevated Valuation
In terms of forward non-GAAP, PLTR is trading at 98.34x, 320.3% higher than the industry average of 23.39x. Likewise, the stock's forward EV/Sales multiple of 27.01 is considerably higher than the industry average of 2.82. Also, its forward EV/EBITDA of 74.47x is 435.2% higher than the industry average of 13.91x.
Also, the stock's forward Price/Sales of 28.34x is significantly higher than the 2.77x industry average. And its Price/Book of 17.60x is 331.1% higher than the industry average of 4.08x.
POWR Ratings Reflect Uncertainty
PLTR's mixed prospects are reflected in its <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a>. The stock has an overall rating of C, which translates to a Neutral in our proprietary system. The POWR Ratings are calculated by considering 118 different factors, with each factor weighted to an optimal degree.
Our proprietary rating system also evaluates each stock based on eight distinct categories. PLTR has an A grade for Quality, consistent with its higher-than-industry profitability.
However, the stock received a D grade for Stability, in sync with its 24-month beta of 2.06.
PLTR is ranked #17 in the 18-stock A-rated <a href="https://stocknews.com/category/software-saas/">Software - SaaS</a> industry.
Beyond what is mentioned above, we have also given PLTR grades for Sentiment, Growth, and Momentum. Get access to all the PLTR Ratings <a href="https://stocknews.com/stock/PLTR/">here</a>.
Bottom Line
PLTR's recent strategic innovations and collaborations with industry leaders have strengthened its position in the AI market. Further, with its continuous efforts of leveraging AI for government and commercial contracts have significantly contributed to the operational expansion.
While the company's long-term prospects appear sturdy with strategic partnerships and solid financial performance, its stretched valuation and rising market competition suggest waiting for a better entry point in this stock could be suitable.
Stocks to Consider Instead of Palantir Technologies Inc. (PLTR)
Due to its near-term uncertain prospects, the odds of PLTR outperforming in the weeks and months ahead are compromised. However, there are many industry peers with much more impressive POWR Ratings. So, consider these A (Strong Buy) or B (Buy) stocks from the A-rated <a href="https://stocknews.com/category/software-saas/">Software - SaaS</a> industry instead:
DocuSign Inc. (<a href="https://stocknews.com/stock/DOCU/">DOCU</a>), MiX Telematics Ltd. ADR (<a href="https://stocknews.com/stock/MIXT/">MIXT</a>), and WM Holding Company, LLC (<a href="https://stocknews.com/stock/MAPS/">MAPS</a>).
For exploring more A and B-rated software stocks, <a href="https://stocknews.com/category/software-saas/">click here</a>.
What To Do Next?
Discover 10 widely held stocks that our proprietary model shows have tremendous downside potential. Please make sure none of these "death trap" stocks are lurking in your portfolio:
<a href="https://report.stocknews.com/free-report/10-stocks-to-sell/?formplacement=artbotad_10sell">10 Stocks to SELL NOW! &gt;</a>

<hr />
PLTR shares were trading at $35.59 per share on Friday afternoon, up $0.68 (+1.95%). Year-to-date, PLTR has gained 107.28%, versus a 18.99% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Rjkumari Saxena</h2> <img src='https:/wp-content/uploads/2024/04/Rajkumari-Saxena_Image-1.jpeg' style="float:left; padding:5px;width:125px;">Rajkumari started her career as a writer but gradually shifted her focus to financial journalism, leveraging her educational background in Commerce. Fascinated by the interplay of business and economic shifts in equities, she aspires to evolve as an analyst. With a knack for simplifying complex financial concepts, her mission is to empower investors with insights that lead to profitable decisions.<a href="https://stocknews.com/authors/?author=rajkumari-saxena">More...</a>The post <a href=https://stocknews.com/news/pltr-docu-mixt-maps-msft-bp-does-palantirs-ai-push-make-it-a-buy-now/>Does Palantir's AI Push Make It a Buy Now?</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

Does Palantir's AI Push Make It a Buy Now?

Stock moves reflect downgrade for US economic growth outlook - Goldman

DocuSign ($DOCU) emerged as a top performer during the pandemic as demand for remote solutions accelerated the adoption of digital workflows, inclu...

DocuSign (DOCU) Adopts AI and Beats Expectations After Three Years of Decline

UiPath's (PATH) continued growth is fueled by solid demand for its innovative product offerings, strategic innovations, and optimistic analysts' expectations. So, let's analyze whether PATH is a buy today. Read more to find out... UiPath, Inc. (<a href="https://stocknews.com/stock/PATH/">PATH</a>) is a leading enterprise automation and AI software company. It provides an end-to-end automation platform that offers a variety of international robotic process automation (RPA) solutions. In the last reported quarter, the company posted total revenue of $316.25 million, surpassing the analysts' estimate of $303.74 million, and its EPS was $0.04, above the expectations of $0.03.
During the second quarter, the company introduced new platform features to help businesses achieve greater outcomes with AI and automation. These features benefit developers and testers and allow plugins and integration with Copilot for Microsoft 365. Further, UiPath has received industry-wide recognition for its innovations and capabilities.
Daniel Dines, UiPath Founder, and Chief Executive Officer, commented, "Our conversations with customers and partners deepen our conviction that there is an increasing need for AI and automation, and our unwavering commitment to innovation continues to position us as the automation platform of choice for capturing the opportunities that AI brings to an enterprise."
He added, "As we look to the remainder of the year, we will continue to focus on product innovation, customer-centricity, and driving operational efficiencies across the business."
According to the fiscal 2025 third-quarter outlook, PATH expects revenue between $345 million and $350 million. The company's non-GAAP operating income is expected to be approximately $27 million.
For the fiscal full year 2025, the company expects revenue in the range of $1.42 billion to $1.42 billion, and its non-GAAP operating income is expected to be approximately $170 million.
Shares of PATH have declined 4% over the past month to close its last trading session at $12.40.
Let's look at factors that could influence PATH's performance in the upcoming months.
Positive Recent Development
On July 2, PATH announced new features on its platform, which infuse GenAI deeply into the UiPath Business Automation Platform&#x2122; to help businesses achieve greater outcomes with AI and automation. The new features facilitate developers and organizations to build better, faster, and more comprehensive automation.
Robust Financials
PATH's total revenue increased 10.1% year-over-year to $316.25 million during the second quarter that ended July 31, 2024. Its non-GAAP <a href="https://www.investopedia.com/terms/g/grossprofit.asp#:~:text=Gross%20profit%20is%20the%20income,have%20been%20removed%20from%20revenue.">gross profit</a> grew 6.6% from the year-ago value to $263.18 million.
In addition, the company's non-GAAP net income came in at $23.76 million and $0.04 per share for the quarter, respectively. Its non-GAAP adjusted free cash flow increased 25.5% from the year-ago value to $149.78 million.
Also, the company's cash and cash equivalents and total assets stood at $939.31 million and $2.70 billion as of July 31, 2024.
Favorable Analyst Estimates
Analysts expect PATH's revenue for the third quarter (ending October 2024) to increase 6.7% year-over-year to $347.64 million, and its consensus EPS estimate is expected to be $0.07 for the ongoing quarter. Further, the company has maintained an impressive earning surprise history, having surpassed the consensus revenue and EPS estimates in all four trailing quarters.
Additionally, Street expects the company's revenue and EPS for the fiscal year (ending January 2026) to increase 11.5% and 10.5% year-over-year to $1.58 billion and $0.44, respectively.
High Profitability
PATH's trailing-12-month gross profit margin of 84.03% is 69.6% higher than the respective industry average of 49.54%. Its trailing-12-month levered FCF margin of 30.80% is considerably higher than the industry average of 10.36%.
Lower Valuation
In terms of forward non-GAAP PEG, PATH is trading at 0.98x, 48.9% lower than the industry average of 1.92x. Likewise, the stock's forward Price/Book multiple of 3.74 is 14.2% lower than the industry average of 4.36. Also, its forward Price/Cash Flow of 22.14x is lower than the industry average of 22.27x.
POWR Ratings Reflect Promise
PATH's solid prospects are reflected in its <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a>. The stock has an overall rating of B, translating to a Buy in our proprietary system. The POWR Ratings are calculated by taking into account 118 different factors, with each factor weighted to an optimal degree.
Our proprietary rating system also evaluates each stock based on eight distinct categories. PATH has a B grade for Growth, in sync with its outstanding financial performance in the last reported quarter.
In addition, the stock has a B grade for Quality, consistent with its higher-than-industry profitability.
PATH is ranked #7 in the 18-stock A-rated <a href="https://stocknews.com/category/software-saas/">Software - SAAS</a> industry.
Beyond what I have stated above, we have also given PATH grades for Sentiment, Value, Momentum, and Stability. Get access to all the PATH Ratings <a href="https://stocknews.com/stock/PATH/">here</a>.
Bottom Line
PATH is an enterprise automation and AI software company, and with its consistent innovation strides, it has maintained its leadership with its robotic process automation (RPA) solutions and suite of interrelated software.
Also, owing to its solid financial results, analysts appear bullish regarding the company's long-term growth prospects, driven by robust demand for AI software and solutions, continuous innovations, and expanding operations.
Given PATH's solid financials, accelerating profitability, and promising growth outlook, this software stock could be an ideal buy now.
How Does UiPath Inc. (PATH)) Stack Up Against Its Peers?
While PATH has an overall POWR Rating of B, investors could also check out these other stocks within the <a href="https://stocknews.com/category/software-saas/">Software - SAAS</a> industry with A (Strong Buy) or B (Buy) ratings: DocuSign Inc. (<a href="https://stocknews.com/stock/DOCU/">DOCU</a>), MiX Telematics Ltd. ADR (<a href="https://stocknews.com/stock/MIXT/">MIXT</a>), and CCC Intelligent Solutions Inc. (<a href="https://stocknews.com/stock/CCCS/">CCCS</a>).
For exploring more A and B-rated software stocks, <a href="https://stocknews.com/category/software-saas/">click here</a>.
What To Do Next?
Get your hands on this special report with 3 low priced companies with tremendous upside potential even in today's volatile markets:
<a href="https://report.stocknews.com/free-report/3stocks/?formplacement=artbotad_3s">3 Stocks to DOUBLE This Year &gt;</a>

<hr />
PATH shares were trading at $12.33 per share on Wednesday afternoon, down $0.07 (-0.56%). Year-to-date, PATH has declined -50.36%, versus a 20.81% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Rjkumari Saxena</h2> <img src='https:/wp-content/uploads/2024/04/Rajkumari-Saxena_Image-1.jpeg' style="float:left; padding:5px;width:125px;">Rajkumari started her career as a writer but gradually shifted her focus to financial journalism, leveraging her educational background in Commerce. Fascinated by the interplay of business and economic shifts in equities, she aspires to evolve as an analyst. With a knack for simplifying complex financial concepts, her mission is to empower investors with insights that lead to profitable decisions.<a href="https://stocknews.com/authors/?author=rajkumari-saxena">More...</a>The post <a href=https://stocknews.com/news/path-docu-mixt-cccs-is-uipath-a-hidden-gem-in-the-automation-sector/>Is UiPath a Hidden Gem in the Automation Sector?</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

Is UiPath a Hidden Gem in the Automation Sector?

DocuSign: Stable Growth Amid Sharp Profit Expansion

DocuSign: A Midcap Worth Considering

DocuSign stock gains on inclusion to S&P Midcap 400 Index

Biggest stock movers today: Chinese stocks, and more

Biggest stock movers today: Robinhood, Chinese names, energy firms and more

AFRM

AMKR

APPF

BEKE

BEPC

BILI

BILL

CAVA

CCCS

CHUY

DASH

DOCU

FTNT

FUTU

IONS

IPGP

ITCI

JAZZ

LBRDK

MAPS

MIXT

MNST

MPWR

MSFT

ORCL

PATH

PINS

PLTR

ROKU

SMAR

SMCI

SPXU

TRGP

TRMB

UPRO

VLTO

Contracts

Press Releases

DOCUSIGN ANNOUNCES AGREEMENT TO ACQUIRE LEXION

Docusign Announces Timing of First Quarter Fiscal 2025 Earnings Conference Call

Docusign Completes Acquisition of Lexion to Accelerate Intelligent Agreement Management

Docusign Introduces New Connector for SAP Ariba Solutions at SAP Sapphire

Earnings

Fintech

Docusign Announces First Quarter Fiscal 2025 Financial Results; Announces $1.0 Billion Increase to Share Repurchase Program

Docusign Announces New Revenue and Engineering Leadership to Help Execute Vision for Intelligent Agreement Management

Docusign Announces Timing of Second Quarter Fiscal 2025 Earnings Conference Call

Docusign Announces Second Quarter Fiscal 2025 Financial Results

Moderne Ventures Closes over $230M for MV Fund III, Scaling its Modern Approach to Venture Investing

DocuSign Set to Join S&P MidCap 400 and MDU Resources Group to Join S&P SmallCap 600

Comments

DocuSign

Intérêt court

DocuSign (NASDAQ:DOCU) Stock, Rapport sur les intérêts à découvert

Les gens regardent aussi

Notizie

PARTENAIRE / CONTRIBUTEUR

BENZINGA MONDIAL