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

HSBC Holdings (NYSE:HSBC) Stock, Rapport sur les intérêts à découvert

HSBC Holdings

Established in 1865 in Hong Kong, London-based HSBC is one of the largest banks in the world, with assets of USD 3 trillion and 40 million customers worldwide. It operates across 64 countries with around 220,000 full-time staff. Key regions include Asia, Europe, the Middle East and North Africa, and North America. The United Kingdom and Hong Kong are the two largest markets for the bank. The bank offers retail, commercial and institutional banking, global banking and markets, wealth management, and private banking.

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U.S. Representative Alexandria Ocasio-Cortez (D-N.Y.) has staunchly defended Federal Trade Commission Chair Lina Khan, amidst calls for her removal.
What Happened: On Wednesday, Ocasio-Cortez responded to a post from Semafor domestic policy &amp; politics reporter Joseph-Zeballos-Roig suggesting that Vice President Kamala Harris should not retain Lina Khan as FTC Chair. The post quoted billionaire Mark Cuban expressing his disagreement with Khan&#8217;s approach to breaking up big tech companies.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Let me make this clear, since billionaires have been trying to play footsie with the ticket: Anyone goes near Lina Khan and there will be an out and out brawl. And that is a promise. She proves this admin fights for working people. It would be terrible leadership to remove her. <a href="https://t.co/ba3nUY35Cg">https://t.co/ba3nUY35Cg</a>
&mdash; Alexandria Ocasio-Cortez (@AOC) <a href="https://twitter.com/AOC/status/1844034727935988155?ref_src=twsrc%5Etfw">October 9, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/news/24/10/41242634/ron-desantis-says-kamala-harris-is-delusional-for-trying-to-say-his-sole-focus-on-people-of-florida?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Ron Desantis Says Kamala Harris Is &#8216;Delusional&#8217; For Trying To Say His Sole Focus On People Of Florida Is</a>
Ocasio-Cortez said on X, &#8220;Let me make this clear, since billionaires have been trying to play footsie with the ticket: Anyone goes near Lina Khan and there will be an out and out brawl. And that is a promise.&#8221;
She further emphasized Khan&#8217;s importance to the administration, stating, &#8220;She proves this admin fights for working people. It would be terrible leadership to remove her.&#8221;
Sen. Bernie Sanders (I-Vt.) publicly disagreed with Mark Cuban&#8217;s call to replace FTC Chair Khan if Vice President Harris became president. Sanders praised Khan as &#8220;the best FTC Chair in modern history&#8221; for her work fighting corporate greed and monopolies.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">.<a href="https://twitter.com/mcuban?ref_src=twsrc%5Etfw">@mcuban</a> is wrong. Lina Khan is the best FTC Chair in modern history. By taking on corporate greed &amp; illegal monopolies, Lina is doing an exceptional job preventing large corporations from ripping-off consumers &amp; exploiting workers. Thanks <a href="https://twitter.com/linakhanFTC?ref_src=twsrc%5Etfw">@linakhanFTC</a> for what you are doing. <a href="https://t.co/IYJP3LhGsP">https://t.co/IYJP3LhGsP</a>
&mdash; Bernie Sanders (@SenSanders) <a href="https://twitter.com/SenSanders/status/1843733298960576652?ref_src=twsrc%5Etfw">October 8, 2024</a></blockquote>
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Cuban had touched on Khan&#8217;s leadership to Semafor earlier in the week. He said, &#8220;If it were me, I wouldn't,&#8221; on continuing Khan as FTC chair. &#8220;By trying to break up the biggest tech companies, you risk our ability to be the best in artificial intelligence."
Why It Matters: Khan has been at the forefront of <a href="https://www.benzinga.com/news/large-cap/24/10/41256923/cvs-unitedhealth-request-ftc-chair-recusal-amid-ongoing-pharmacy-benefit-managers-lawsuit">antitrust actions</a> against major corporations. In September, the FTC filed a formal complaint against three major pharmacy benefit managers (PBMs)—CVS Health Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVS#NYSE">CVS</a>), Cigna Corp. (CI) Express Scripts, and UnitedHealth Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNH#NYSE">UNH</a>) Optum—for allegedly engaging in unfair and anti-competitive practices. The complaint accuses the PBMs of inflating the list price of insulin medications, thereby forcing patients to pay higher costs for life-saving insulin.
These PBMs, referred to as the Big Three, administer around 80% of prescriptions in the U.S. The FTC&#8217;s actions under Khan&#8217;s leadership have been seen as a fight for working people, a stance that Ocasio-Cortez and Sanders strongly support.
Jim Cramer of CNBC's "Mad Money" criticized Khan for her anti-merger policies last year, arguing they harm investor portfolios and stock valuations. He called her a &#8220;<a href="https://www.benzinga.com/analyst-ratings/analyst-color/23/12/36295790/jim-cramer-slams-ftc-chair-lina-khans-policies-for-hampering-investor-returns-one-w">one-woman wrecking crew</a>,&#8221; asserting her stance limits competition and favors only the wealthiest companies.
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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>

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Bernie Sanders And AOC Clap Back At Mark Cuban's Push for FCC Chief Shakeup: 'Anyone Goes Near Lina Khan And There Will Be An Out And Out Brawl'

Gary Black, managing partner at Future Fund LLC, has highlighted what he sees as an attractive valuation for Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>), despite the company facing increased <a href="https://www.benzinga.com/markets/equities/24/10/41244481/google-cries-foul-as-doj-moves-to-break-up-search-giant-calls-recommendations-radical-as-antitru">scrutiny from the U.S. Department of Justice</a>. 
What Happened: In a recent post on X (formerly Twitter), Black noted Google's modest price-to-earnings (P/E) ratio for 2024, emphasizing its growth potential. However, he also pointed out a looming threat from emerging AI-powered competitors.
The Justice Department recently filed a 32-page court document outlining potential remedies to address Google's dominance in the search market. 
Despite the legal challenges, Black remains bullish on Google's financial outlook. He wrote, &#8220;$GOOG remains relatively inexpensive among growth stocks at a 2024 P/E of 20.7x and 2025 P/E of 18.3x and +15% projected earnings growth between 2024-2029.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24GOOG&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$GOOG</a> -1.6% today in an up market (NDX +0.6%). Ironic that Justice may attempt to break up GOOG search under anti-trust provisions just as GOOG search is losing share to ChatGPT, Copilot and other AI language models. The Justice Department is considering asking a federal judge…
&mdash; Gary Black (@garyblack00) <a href="https://twitter.com/garyblack00/status/1844121748998144444?ref_src=twsrc%5Etfw">October 9, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/markets/equities/24/10/41244462/palantirs-shyam-sankar-says-ai-is-experiential-and-if-you-pay-consultants-to-help-you-think-abou?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Palantir&#8217;s Shyam Sankar Says AI Is Experiential And If You Pay Consultants To Help You Think About Deployment &#8216;You&#8217;re Just Lighting Money On Fire&#8217;</a>
Why It Matters: The agency is considering asking a federal judge to order the breakup of certain parts of Google's business, which could have far-reaching implications for the tech giant. This action comes as AI-driven competitors, such as OpenAI&#8216;s ChatGPT and Microsoft&#8216;s Copilot, gain ground in the search space.
The DOJ's document proposes &#8220;behavioral and structural remedies&#8221; aimed at preventing Google from leveraging its suite of products, such as Chrome, Play Store, and Android, to favor its search business and related products. It also includes provisions targeting Google&#8217;s use of artificial intelligence in search, <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41257551/google-analysts-react-to-dojs-proposed-remedies-for-search-dominance-we-continue-to">underscoring the growing significance of AI in the industry</a>.
Among the remedies, the DOJ suggested that Google could be forced to provide access to the data it uses to build its search results and AI models. The judge overseeing the case, Amit Mehta, is expected to rule on the remedies by August 2025, after a two-week <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41257551/google-analysts-react-to-dojs-proposed-remedies-for-search-dominance-we-continue-to">remedies hearing in April 2025</a>.
However, Black warned of the potential threat posed by AI-based language models like ChatGPT and Copilot. &#8220;The biggest risk is that ChatGPT, Copilot, and other AI language models continue to take search share from GOOG, even though there's been little loss in search revenue share to date,&#8221; Black noted.
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41220500/elon-musk-says-potential-doge-department-under-a-trump-administration-will-be-a-garbage-co?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Says Potential &#8216;DOGE&#8217; Department Under A Trump Administration Will Be A &#8216;Garbage Collector&#8217; For Regulations That Don&#8217;t Make Sense</a></li>
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Image Via Shutterstock 
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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Gary Black Finds Google-Parent Alphabet Attractively Priced Amid Possible DOJ Push To Break The Company: 'Relatively Inexpensive Among Growth Stocks'

On Wednesday, Cathie Wood-led Ark Invest made a significant move in the semiconductor sector, with a notable purchase of shares in Advanced Micro Devices Inc (AMD). This trade comes amidst a dynamic landscape in the semiconductor industry, with AMD showing resilience.
The AMD Trade
On Wednesday, ARK Autonomous Technology &amp; Robotics ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKQ#BATS">ARKQ</a>) and ARK Space Exploration &amp; Innovation ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKX#BATS">ARKX</a>) purchased a total of 3,000 shares of AMD, valued at approximately $513,060 based on the closing price of $171.02 on the day of the trade. This move comes in the wake of a <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41235547/nvidia-amd-lead-the-pack-broadcom-stable-intel-falters-analysts-latest-take">KeyBanc analyst&#8217;s mixed quarterly supply chain findings</a> for the semiconductor sector, with AMD standing out in the pack.
The analyst noted sustained strength in traditional server and AI, with AMD&#8217;s competitor, Blackwell from Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), set to launch in the fourth quarter without further delays.
Nvidia, despite concerns over AI spending, has continued to defy expectations and approached Apple&#8217;s market capitalization.
Recently, AMD CEO Lisa Su highlighted the <a href="https://www.benzinga.com/news/24/09/40980388/amd-chief-predicts-custom-chips-will-outperform-gpus-sees-shift-in-ai-chip-demand-report">potential shift</a> toward custom AI chips offering greater efficiency and lower costs, hinting at competition with Nvidia. While Nvidia remains dominant with GPUs for AI and gaming, Su emphasized the future will involve diverse chip architectures, with AMD focusing on mainstream GPUs and data center growth.
See Also: <a href="https://www.benzinga.com/markets/equities/24/10/41244462/palantirs-shyam-sankar-says-ai-is-experiential-and-if-you-pay-consultants-to-help-you-think-abou?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Palantir&#8217;s Shyam Sankar Says AI Is Experiential And If You Pay Consultants To Help You Think About Deployment &#8216;You&#8217;re Just Lighting Money On Fire&#8217;</a> 
Other Key Trades:
Ark Invest&#8217;s ARKG and ARKK funds bought a total of 425,213 shares of Recursion Pharmaceuticals Inc (RXRX). The ARKG fund also purchased 17,542 shares of 10X Genomics Inc (TXG). 
Meanwhile, ARKQ sold shares of Markforged Holding Corp (MKFG) and bought shares of Blade Air Mobility Inc (BLDE). The ARKX fund followed suit, selling shares of Markforged and buying shares of Blade Air Mobility.
Image via Wikimedia Commons
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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>

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Cathie Wood's Ark Invest Swoops In To Buy AMD Shares As Nvidia Looms Large

In a recent development, Georgia Republican Rep. Marjorie Taylor Greene (R-Ga.) has come under scrutiny for propagating conspiracy theories about the government&#8217;s ability to manipulate severe weather events such as hurricanes.
What Happened: On Wednesday, Greene took to X and cited the National Oceanic and Atmospheric Administration's (NOAA) reports on weather modification projects as proof that weather could be manipulated. 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Everyone keeps asking, "who is they?" Well some of them are listed on NOAA, as well as most of the ways weather can be modified, because they are required to report it to the Secretary of Commerce by the Weather Modification Act of 1972. The NOAA government website has a… <a href="https://t.co/UaNZCiZ8es">pic.twitter.com/UaNZCiZ8es</a>
&mdash; Marjorie Taylor Greene &#x1f1fa;&#x1f1f8; (@mtgreenee) <a href="https://twitter.com/mtgreenee/status/1844056573892579788?ref_src=twsrc%5Etfw">October 9, 2024</a></blockquote>
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Previously she also shared similar theories in another post on X on Tuesday.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">"Marjorie Taylor Greene was right. Yes, scientists do control the weather."<a href="https://t.co/7SvNdlygkP">https://t.co/7SvNdlygkP</a>
&mdash; Marjorie Taylor Greene &#x1f1fa;&#x1f1f8; (@mtgreenee) <a href="https://twitter.com/mtgreenee/status/1843651263193591936?ref_src=twsrc%5Etfw">October 8, 2024</a></blockquote>
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Greene has been disseminating these theories on the internet, coinciding with the approach of Hurricane Milton towards Florida. Her posts have ignited worries about the dissemination of misinformation and its potential impact on people&#8217;s safety decisions, <a href="https://thehill.com/policy/technology/4925267-greene-takes-fire-for-sharing-for-remarks-about-the-weather/">reported</a> The Hill.
Starting from October 3, Greene&#8217;s posts have drawn criticism from her Republican peers and President Joe Biden. In his Wednesday address, Biden referred to Greene&#8217;s assertions as part of a wider conversation on misinformation.
Biden denounced Greene for disseminating what he termed as &#8220;irresponsible&#8221; and &#8220;beyond ridiculous&#8221; fabrications about weather control. He stated that such claims are eroding trust in rescue and recovery efforts.
Greene&#8217;s social media activities include sharing a map by influencer Matt Wallace, implying that Hurricane Helene was deliberately directed towards Republican-leaning counties.
Her posts have been countered by fellow Republicans, including Rep. Carlos Gimenez (R-Fla.) and Rep. Chuck Edwards (R-N.C.), who have stressed that such large-scale weather control is beyond the reach of current technology.
&#8220;Humans cannot create or control hurricanes,&#8221; said Gimenez on social media. &#8220;Anyone who thinks they can, needs to have their head examined.&#8221;
See Also: <a href="https://www.benzinga.com/markets/cannabis/24/10/41214802/joe-biden-quick-question-before-you-go-are-those-cannabis-pardons-from-2-years-ago-still-on?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Joe Biden, Quick Question Before You Go: Are Those Cannabis Pardons From 2 Years Ago Still On?</a>
Why It Matters: This controversy arises in the context of Florida bracing for <a href="https://www.benzinga.com/markets/equities/24/10/41209505/hurricane-milton-is-floridas-second-storm-in-two-weeks-how-disney-theme-parks-insurance-companie">its second hurricane in less than two weeks</a>. Hurricane Milton, which was <a href="https://www.benzinga.com/news/24/10/41231817/hurricane-milton-dire-warning-if-you-choose-to-stay-youre-going-to-die-officials-encourage-writing-n">downgraded to a Category 4 storm</a> is expected to hit some of Florida's most populous areas, including the Tampa Bay area. 
Greene has previously faced criticism for promoting controversial ideas, such as a 2018 Facebook post about &#8220;Jewish space lasers,&#8221; which invoked antisemitic tropes. Greene's embrace of conspiracy theories has <a href="https://www.benzinga.com/news/24/03/37525135/marjorie-taylor-greene-tells-former-bbc-host-to-f-off-at-trumps-mar-a-lago">drawn backlash</a>, including from Republicans.
The spread of misinformation during such critical times could potentially impact people&#8217;s decisions about their safety and undermine confidence in rescue and recovery efforts.
Photo courtesy: Shutterstock
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Marjorie Taylor Greene Sticks To Weather Modification Theories Amid Ongoing Hurricane Emergency — Gets Head Examination Advice From Florida Republican

Publicly traded Flora Growth Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FLGC#NASDAQ">FLGC</a>) is closely monitoring Germany's newly approved legislation on industrial hemp, viewing it as a potential game-changer for the <a href="https://www.benzinga.com/topic/europe-cannabis">European market</a>.
Germany has recently updated its regulatory framework. The changes <a href="https://www.benzinga.com/markets/cannabis/24/07/39840487/green-wave-in-germany-now-includes-hemp-new-bill-promotes-industrial-production">introduced</a> by Minister of Food and Agriculture Cem Özdemir have liberalized industrial hemp cultivation, <a href="https://www.benzinga.com/markets/cannabis/24/07/39840487/green-wave-in-germany-now-includes-hemp-new-bill-promotes-industrial-production">removing</a> previous barriers such as the &#8220;abuse clause&#8221; that limited the industry's growth. The clause stipulated that industrial hemp was only to be allowed if misuse for intoxication purposes was ruled out.
Flora Growth, which is based in Florida, is an established player in the hemp space with brands like JustCBD and Vessel. The company is eager to take advantage of the opportunity these changes are bringing. 
With its expertise in cannabinoid extraction and a successful portfolio of<a href="https://www.benzinga.com/markets/cannabis/20/09/17664481/will-low-thc-cannabis-be-the-next-big-trend-1"> low-THC hemp</a> products, Flora sees Germany as the next frontier. 
The company plans to bring its products to the European market, targeting <a href="https://www.benzinga.com/markets/cannabis/24/09/40824983/20m-germans-could-benefit-from-medical-marijuana-but-most-struggle-to-find-prescribing-doctors">German consumers</a> as demand grows in this newly accessible sector.
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<li>Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/07/39840487/green-wave-in-germany-now-includes-hemp-new-bill-promotes-industrial-production">Green Wave In Germany Now Includes Hemp, New Bill Promotes Industrial Production</a></li>
</ul>
The new legislation allows for easier cultivation, processing, and distribution of industrial hemp. Thus, it is expected to bolster Germany's emerging hemp industry. Industrial hemp, containing less than 0.3% THC, is valued for its <a href="https://www.benzinga.com/markets/cannabis/24/10/41238140/crafting-a-mixed-martial-arts-plant-texas-scientists-develop-drought-resistant-hemp-strain">wide </a><a href="https://www.benzinga.com/markets/cannabis/24/08/40418137/industrial-hemps-14b-projected-growth-an-investment-opportunity-too-good-to-miss">range of uses</a>, including textiles, wellness products, and other applications. The global market of industrial hemp market is<a href="https://www.benzinga.com/markets/cannabis/24/08/40418137/industrial-hemps-14b-projected-growth-an-investment-opportunity-too-good-to-miss"> projected to grow</a> by $13.90 billion from 2024 to 2028
Flora's positioning in the hemp cannabinoid space aligns well with these opportunities.
Clifford Starke, chairman and CEO of Flora Growth, <a href="https://www.newsfilecorp.com/release/226095/Flora-Growth-Corp.-Applauds-Germanys-New-Industrial-Hemp-Legislation-Plans-to-Leverage-Expertise-for-Market-Entry">expressed</a> the company's enthusiasm for Germany's legislative shift: "We believe that Germany&#8217;s progressive move to liberalize industrial hemp cultivation marks a pivotal moment for the European hemp industry. As a company with deep experience in cannabinoid extraction and product development, we are excited to bring our expertise to Germany."
In a statement, Flora announced that the company is actively engaging with local partners and preparing for market entry as the final details of Germany's hemp regulations take shape. 
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<li>Read Next:<a href="https://www.benzinga.com/markets/cannabis/24/09/40824983/20m-germans-could-benefit-from-medical-marijuana-but-most-struggle-to-find-prescribing-doctors"> 20M Germans Could Benefit From Medical Marijuana But Most Struggle To Find Prescribing Doctors</a></li>
</ul>
Cover photo by <a href="https://www.pexels.com/es-es/foto/marcar-cerca-del-edificio-1128416/">Niki Nagy </a>via Pexels

Cannabis

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Nasdaq-Listed Cannabis Company Eyes Germany's New Hemp Legislation With Intense Interest

Pop icon Taylor Swift has donated $5 million to Feeding America to support their disaster relief initiatives in the wake of Hurricanes Helene and Milton.
What Happened: Feeding America announced Swift&#8217;s substantial contribution on Wednesday. The funds are earmarked for relief efforts in communities impacted by the recent hurricanes.
Feeding America&#8217;s CEO, Claire Babineaux-Fontenot, expressed gratitude for Swift&#8217;s donation, stating it will &#8220;help communities rebuild and recover, providing essential food, clean water, and supplies to people affected by these devastating storms.&#8221;
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="938" height="601" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/09201421/Screenshot-2024-10-10-at-09.13.34.png" alt="" class="wp-image-588587" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/09201421/Screenshot-2024-10-10-at-09.13.34.png 938w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/09201421/Screenshot-2024-10-10-at-09.13.34-300x192.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/09201421/Screenshot-2024-10-10-at-09.13.34-768x492.png 768w" sizes="(max-width: 938px) 100vw, 938px" /></figure>
Screenshot From Instagram Account of Feeding America CEO Claire Babineaux-Fontenot
The announcement of Swift&#8217;s donation came just hours before Hurricane Milton was predicted to hit the west coast of the Florida peninsula. The storm is expected to bring historic storm surges, heavy rainfall, and record-breaking flash and urban flooding, <a href="https://thehill.com/blogs/in-the-know/4925400-taylor-swift-donates-5-million-feeding-america-hurricane-relief/">reported</a> The Hill.
Feeding America has been actively involved in recovery efforts since Hurricane Helene caused catastrophic damage to Southern states less than two weeks ago. The organization has dispatched 140 truckloads of relief supplies to 11 food banks in Florida, North Carolina, South Carolina, Georgia, and Tennessee.
See Also: <a href="https://www.benzinga.com/news/24/10/41242634/ron-desantis-says-kamala-harris-is-delusional-for-trying-to-say-his-sole-focus-on-people-of-florida?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Ron Desantis Says Kamala Harris Is &#8216;Delusional&#8217; For Trying To Say His Sole Focus On People Of Florida Is Selfish Amid Phone Call Row</a>
Why It Matters: Swift&#8217;s donation comes at a crucial time as Florida braces for the impact of Hurricane Milton, the second hurricane to hit the state in less than two weeks. <a href="https://www.benzinga.com/news/24/10/41231817/hurricane-milton-dire-warning-if-you-choose-to-stay-youre-going-to-die-officials-encourage-writing-n">Evacuation orders</a> are in place for multiple Florida counties, with officials issuing dire warnings for those who choose to stay home.
According to <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41254312/hurricane-milton-descends-on-florida-analysts-warn-of-impact-on-disney-nexteras-flo">analysts</a>, sectors including insurance, regional banks, fitness centers, utilities, hospitals, and theme parks could be negatively impacted by Hurricane Milton. The storm is predicted to have a significant impact on Florida&#8217;s most populous areas, including the Tampa Bay area.
Furthermore, Goldman Sachs estimates that Hurricane Milton could cause an adverse <a href="https://www.benzinga.com/general/entertainment/24/10/41229099/disney-faces-150m-200m-blow-from-hurricane-milton-attendance-set-to-drop-6-says-goldman-sac">impact of $150 million to $200 million</a> on Walt Disney World's Parks and experiences in the current quarter. This potential loss is primarily attributed to the expected drop in domestic attendance at Walt Disney World, with projections now suggesting a 6% year-over-year decline in attendance growth, compared to an earlier estimate of a 2% decline. 
Image via Shutterstock
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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>

Taylor Swift Donates $5M Toward Hurricane Recovery: 'Contribution Will Help Communities Rebuild'

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Several rappers have bought leading cryptocurrency Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) over the years, but fewer have bought meme coins like Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>), which is loved by billionaires like Mark Cuban <a href="https://www.benzinga.com/markets/cryptocurrency/23/11/35860106/if-you-invested-100-in-dogecoin-when-elon-musk-first-tweeted-about-the-crypto-heres-how-mu">and Elon Musk.</a>
One rapper took a chance on Dogecoin in 2021, but his timing may have been among the worst.
What Happened: Logic, 50 Cent and Nas, who also<a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41204472/if-you-invested-1000-in-bitcoin-when-rap-legend-nas-sang-that-he-was-coin-based-basically-"> invested in cryptocurrency companies,</a> are among the rappers who have bought Bitcoin or rapped about the cryptocurrency over the years.
Rapper Meek Mill announced on May 4, 2021, that he bought Dogecoin.
"I just grabbed some doge I'm tired of missing out," Meek Mill <a href="https://x.com/MeekMill/status/1389621286536634368">tweeted</a>.  
The rapper spent $50,000 on 92,411 Dogecoin according to a <a href="https://www.xxlmag.com/meek-mill-dogecoin-stock-50000-dollars/">report </a>from XXL Mag.
Meek Mill <a href="https://x.com/MeekMill/status/1390099342720176134">tweeted </a>a day later "what's up wit doge coin" asking his followers why the cryptocurrency was moving, sharing a screen shot from his account.
Dogecoin traded between $0.400800 and $0.65998 on May 4, 2021, the date of the rapper's purchase. No matter when investors bought Dogecoin they would be down if they chose to follow the rapper.
A $1,000 investment could have bought 1,650.17 DOGE on May 4 based on the highest price of the day. The $1,000 investment would be down 82% since the rapper's tweet.
While it is unknown if Meek Mill still holds any Dogecoin, the rapper would be down on his position and likely took a loss if he sold, depending on when his sale was made.
Read Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/41105426/if-you-invested-1-000-in-dogecoin-when-mark-cuban-and-the-dallas-mavericks-welcomed-the-me">If You Invested $1,000 In Dogecoin When Mark Cuban And The Dallas Mavericks Welcomed The Meme Crypto, Here&#8217;s How Much You&#8217;d Have Now</a>
Meek Mill's Bad Timing: Dogecoin went on to hit all-time highs just days after the rapper made the purchase. The all-time high was $0.7376 on May 8, a date which coincided with Musk appearing on "Saturday Night Live" and<a href="https://www.benzinga.com/markets/cryptocurrency/22/05/27064582/today-is-the-one-year-anniversary-of-elon-musk-on-snl-and-dogecoin-all-time-highs-heres-wh"> mentioning the meme coin.</a>
The May 4, 2021 tweet signaled Meek Mill was tired of missing out and his timing may have missed out on some huge profits.
On Jan. 8, 2021, Meek Mill <a href="https://x.com/MeekMill/status/1347577344609955842">tweeted </a>about cryptocurrency.
"I need everybody that rock wit me to learn about stocks and crypto currency!" the rapper tweeted.
The rapper didn't learn about cryptocurrency — or at least Dogecoin — as his first investment wouldn't come for four more months.
Dogecoin traded between $0.009177 and $0.010867 on Jan. 8, 2021.
A $1,000 investment by the rapper at that day's high price could have bought 92,021.72 DOGE. The Dogecoin investment would be worth $10,011.96, up 901.2%.
If Meek Mill bought the same $50,000 in Dogecoin at the high price on Jan. 8, 2021, he could have bought 4,601,085.86 DOGE.
That same investment would be worth $500,598.14 today and would have been worth $3,393,760.93 at the coin's all-time high.
Read Next: 
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<li><a href="https://www.benzinga.com/general/entertainment/24/07/39870013/elon-musk-reacts-as-rapper-meek-mill-flexes-his-all-black-cybertruck-ahead-of-his-new-song-">Elon Musk Reacts As Rapper Meek Mill Flexes His All-Black Cybertruck Ahead Of His New Song Named After Tesla&#8217;s EV Truck</a></li>
</ul>
Photo: Meek Mill, photo by Jake Giampa via Shutterstock

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

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If You Invested $1,000 In Dogecoin When Rapper Meek Mill 'Grabbed Some Doge,' Here's How Much You'd Have Today

Rosie Mattio, founder and CEO of Mattio Communications, and Jason Erkes, chief communications officer at Cresco Labs (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CRLBF#OTC">CRLBF</a>), both agreed that throughout their many years in public affairs and communications, they'd never seen anything quite like Florida's cannabis legalization campaign in support of <a href="https://www.benzinga.com/markets/cannabis/24/04/38034138/florida-supreme-court-approves-cannabis-legalization-proposal-for-november-election-in-blow-to-d" target="_blank" rel="noreferrer noopener">Amendment 3</a>.
"Massive…massive," said Erkes at the <a href="https://www.benzinga.com/events/cannabis-conference/">Benzinga Cannabis Capital Conference</a> on Oct. 9. The panel was &#8220;One Month Out: Inside Florida&#8217;s Record-Breaking Adult-Use Legalization Effort.&#8221;
Erkes noted the <a href="https://drupal-cloudfront.benzinga.com/topic/smart-safe-florida" target="_blank" rel="noreferrer noopener">Smart &amp; Safe Florida</a>&nbsp;campaign raised at least $100 million to get the word out.&nbsp;Indeed, Amendment 3 is the best-funded cannabis legalization amendment in American history, surpassing the previous record set by&nbsp;<a href="https://www.benzinga.com/markets/cannabis/20/04/15926183/two-years-after-prop-64-california-cannabis-industry-at-a-crossroads" target="_blank" rel="noreferrer noopener">California's 2016 Proposition 64.</a>
Amendment 3 will go before Florida voters this coming&nbsp;<a href="https://www.benzinga.com/topic/2024-election" target="_blank" rel="noreferrer noopener">November</a>.
<h1 class="wp-block-heading">Getting The Word Out Like None Other</h1>
One of the campaign's strengths, said Mattio, was that it meets people where they are — in the towns and communities across Florida — and the reception has been positive. People relate to issues such as criminal justice reform and freedom of choice. They don't necessarily need to be cannabis consumers to get behind these basic concepts, Mattio said. Not to mention that medical marijuana has been legal in Florida for a decade and its success "has been an example of what a good program looks like," she added.
Mattio and Erkes had the highest praise for Smart &amp; Safe's nearly 800 satellite offices all over Florida, the thousands of lawn signs, the campaign's 13 TV ads and of course making sure people were registered to vote. "It's a political campaign, after all," Erkes said.
<h1 class="wp-block-heading">Speaking Of TV Ads &nbsp;</h1>
Panel moderator Bryna Dahlin asked about the recent lawsuits popping up in Florida. There's the <a href="https://www.benzinga.com/markets/cannabis/24/10/41156781/trulieve-sues-florida-gop-for-defamation-over-false-and-misleading-claims-as-cannabis-legalizati">defamation lawsuit</a> launched by Trulieve Cannabis Corp. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TCNNF#OTC">TCNNF</a>) accusing the Florida Republican Party of intentionally misleading voters with a deceptive TV campaign ad. 
That lawsuit alleges that the TV ad in question misleads voters by implying that only large cannabis companies, such as Trulieve will benefit from marijuana legalization. 
Then there's Florida state Sen. Jason Pizzo&nbsp;(D) who is <a href="https://www.benzinga.com/markets/cannabis/24/10/41207561/desantis-state-of-florida-under-fire-for-taxpayer-funded-anti-cannabis-ad-as-new-lawsuit-emerges">suing the State of Florida</a> for misusing taxpayer dollars to fund an ad produced by the&nbsp;Florida Department of Transportation opposing Amendment 3.
"I generally don't think it's a good idea to poke the bear," said Erkes, but in this case "one way to discredit a false narrative is to launch a lawsuit." In fact, it's a great PR campaign, he added.
Now Read: 
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<li>EXCLUSIVE: <a href="https://www.benzinga.com/markets/cannabis/24/10/41258536/exclusive-cannabis-companies-must-get-more-juice-from-the-same-squeeze-says-cresco-labs-ceo-as-c">Cannabis Companies Must &#8216;Get More Juice From The Same Squeeze,&#8217; Says Cresco Labs CEO As Challenges Persist</a></li>
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Photo: Benzinga Cannabis Capital Conference, Oct. 9, 2024, Photo by Wendy Davis

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EXCLUSIVE: 'Poking The Bear' As Florida's Contentious Cannabis Legalization Vote Looms

For meteorologists who study extreme weather events like Hurricane Milton — and Hurricane Helene just two weeks ago — the most frightening aspect of the back-to-back storms <a href="https://www.benzinga.com/news/24/10/41257552/how-strong-is-milton-what-to-expect-from-hurricane-categories-1-through-5">isn&#8217;t just strength</a>. 
It&#8217;s speed. 
The fact that Milton mutated from tropical storm to Category 5 hurricane in under 24 hours stunned NBC6 Miami&#8217;s John Morales to the point where he held back tears. Watch the video<a href="https://twitter.com/JohnMoralesTV?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor"> in his X account</a>.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I debated whether to share this. I did apologize on the air. But I invite you to read my introspection on <a href="https://twitter.com/BulletinAtomic?ref_src=twsrc%5Etfw">@BulletinAtomic</a> of how extreme weather &#x1f4c8; driven by global warming has changed me. Frankly, YOU should be shaken too, and demand <a href="https://twitter.com/hashtag/ClimateActionNow?src=hash&amp;ref_src=twsrc%5Etfw">#ClimateActionNow</a>. <a href="https://t.co/09vxgabSmX">https://t.co/09vxgabSmX</a> <a href="https://t.co/GzQbDglsBG">https://t.co/GzQbDglsBG</a>
&mdash; John Morales (@JohnMoralesTV) <a href="https://twitter.com/JohnMoralesTV/status/1843325629741285439?ref_src=twsrc%5Etfw">October 7, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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Morales isn&#8217;t alone. Other scientists sounded the alarm, too. They used words like &#8220;<a href="https://x.com/AndyHazelton/status/1843342493318033642?utm_source=substack&amp;utm_medium=email">unprecedented</a>&#8221; and &#8220;<a href="https://x.com/webberweather/status/1843317499091382515?s=46&amp;t=xkbHVlvdaIg9MYo3Hv8M_w&amp;utm_source=substack&amp;utm_medium=email">jaw-dropping</a>.&#8221;
See Also: <a href="https://www.benzinga.com/real-estate/24/10/41251171/hurricane-helenes-destruction-sparks-search-for-safety-10-states-where-property-is-at-the-lowest-ris">Hurricane Helene&#8217;s Destruction Sparks Search For Safety — 10 States Where Property Is At The Lowest Risk</a>
Within 36 hours of formation, Milton&#8217;s winds reached 180 miles per hour. That&#8217;s lightning fast in the world of storm tracking. 
But it shouldn&#8217;t have been a surprise. Helene also mutated from a tropical storm to a Category 4 hurricane in just two days.
For those wondering how two storms, with rains Morales described as &#8220;<a href="https://thebulletin.org/2024/09/hurricane-helene-isnt-an-outlier-its-a-harbinger-of-the-future/#post-heading">biblical</a>,&#8221; are a sudden reality, NASA has an answer: Warm ocean waters due to human-caused climate change.
These conditions caused Milton and Helene to become powerful Category 5 storms.
&#8220;Sea surface temperatures in the Gulf of Mexico were well above average for this time of year as Milton churned toward Florida,&#8221; NASA Climate, an account affiliated with NASA, posted on X.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Warm ocean waters due to human-caused climate change helped fuel Hurricane <a href="https://twitter.com/hashtag/Milton?src=hash&amp;ref_src=twsrc%5Etfw">#Milton</a> to become a powerful Category 5 storm. Sea surface temperatures in the Gulf of Mexico were well above average for this time of year as Milton churned toward Florida. <a href="https://t.co/p4WvGdpcWE">https://t.co/p4WvGdpcWE</a> <a href="https://t.co/P3qashjqoc">pic.twitter.com/P3qashjqoc</a>
&mdash; NASA Climate (@NASAClimate) <a href="https://twitter.com/NASAClimate/status/1844030081460502696?ref_src=twsrc%5Etfw">October 9, 2024</a></blockquote>
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The primary business activities of certain companies are directly linked to greenhouse gases such as carbon dioxide and methane.
You know the names: Exxon Mobil Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) and Chevron Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>), Marathon Oil Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRO#NYSE">MRO</a>), BP plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BP#NYSE">BP</a>) and PetroChina (OTC:<a class="ticker" href="https://www.benzinga.com/stock/PCCYF#OTC">PCCYF</a>), to name a few.
&#8220;I tried to warn people,&#8221; Morales wrote in the Bulletin of Atomic Scientists last month. &#8220;Except that the warning was not well received by everyone. A person accused me of being a &#8216;climate militant,&#8217; a suggestion that I'm embellishing extreme weather threats to drive an agenda. Another simply said that my predictions were &#8216;an exaggeration.&#8217; But it wasn't an exaggeration.&#8221;
Meanwhile, oil companies operating in the Gulf are currently experiencing setbacks. Chevron&#8217;s Blind Faith platform, for example, shut down and forced personnel to evacuate. It produces around 65,000 barrels of oil per day.
Historically, companies like Shell PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHEL#NYSE">SHEL</a>) and others in the Gulf region followed similar protocols, ahead of significant storms like Helene and — just a couple of weeks earlier — Hurricane Francine​.
See Also: <a href="https://www.benzinga.com/government/24/09/40822108/hurricane-francine-approaches-louisiana-coast-may-become-category-2-storm">Hurricane Francine Approaches Louisiana Coast With Category 2 Storm Potential, Local Oil Refineries Cut Production</a>
<h1 class="wp-block-heading">ExxonMobil Accepts, Then Denies</h1>
Like Morales, ExxonMobil&#8217;s own scientists made similar predictions — in 1977. 
InsideClimateNews <a href="https://insideclimatenews.org/news/02052024/from-the-archive-exxon-research-global-warming/?utm_source=substack&amp;utm_medium=email#:~:text=He%20warned%20Exxon%20scientists%20and,degrees%20Fahrenheit)%20at%20the%20poles.">republished</a> a 2015 article this past May that chronicles how James Black presented evidence to Exxon brass decades ago, detailing how the oil industry&#8217;s operations would endanger humanity.
&#8220;There is general scientific agreement that the most likely manner in which mankind is influencing the global climate is through carbon dioxide release from the burning of fossil fuels," Black said at the time.
Exxon eventually <a href="https://insideclimatenews.org/wp-content/uploads/2015/10/Exxon-Review-of-Climate-Research-Program-1981.pdf">nixed its carbon dioxide research</a> and chose, instead, to deny climate change. 
Fast-forward to today, elected officials are either <a href="https://www.youtube.com/watch?v=4RbvIMfwNzU">dismissing</a> it entirely or calling it a <a href="https://x.com/realDonaldTrump/status/265895292191248385">hoax</a>. Meanwhile, the U.S. produces more oil <a href="https://www.benzinga.com/government/23/10/35240230/us-is-producing-more-oil-under-biden-than-at-any-point-under-the-trump-administration">than ever before</a>. 
&#8220;We're seeing it play out in this post-truth era, in ways that's really damaging society. And I'm not talking more in the psychological, esoterical ways, or maybe in the election outcome ways. This is getting in the way of emergency management agencies doing their job and saving lives and getting people out of harm's way,&#8221; Morales <a href="https://thebulletin.org/2024/10/meteorologist-john-morales-theres-rapid-intensification-theres-extreme-rapid-intensification-and-then-theres-hurricane-milton/">says</a>. &#8220;It's getting in the way of recovery efforts&#8230; And yeah, it's definitely a hindrance to my mission as a person whose life mission is saving life and property.&#8221;
What&#8217;s Next: The U.S. Energy Information Administration continues to analyze energy data, and how Milton <a href="https://www.eia.gov/todayinenergy/detail.php?id=63444">affects</a> energy infrastructure. The agency will publish an inventory report on Thursday; The Wall Street Journal <a href="https://www.wsj.com/finance/commodities-futures/u-s-natural-gas-futures-move-lower-as-storm-looms-24b63a6f?mod=latest_headlines">expects</a> the surplus in U.S. natural gas to contract as Hurricane Milton makes its way across Florida.
Now Read:
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<li><a href="https://www.benzinga.com/markets/asia/24/10/41257792/oil-dips-to-73-as-china-withholds-stimulus-biden-attempts-to-contain-netanyahu-over-israels-attack-o">Oil Dips To $73 As China Withholds Stimulus, Biden Attempts To Contain Netanyahu Over Israel&#8217;s Attack On Iran</a></li>
</ul>
Photo: Courtesy of NASA

PCCYF

SHEL

How Did Hurricanes Milton, Helene Intensify So Quickly? ExxonMobil's Scientists Warned Us... In 1977

Rosenblatt analyst Mike Genovese maintains Applied Optoelectronics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAOI#NASDAQ">AAOI</a>) with a Buy and maintains $20 price target.

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AAOI

Rosenblatt Maintains Buy on Applied Optoelectronics, Maintains $20 Price Target

Macquarie analyst Tao Qiu maintains Brookdale Senior Living (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BKD#NYSE">BKD</a>) with a Outperform and maintains $8 price target.

Macquarie Maintains Outperform on Brookdale Senior Living, Maintains $8 Price Target

DA Davidson analyst Linda Bolton Weiser initiates coverage on Procter &amp; Gamble (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PG#NYSE">PG</a>) with a Neutral rating and announces Price Target of $159.

Initiation

DA Davidson Initiates Coverage On Procter & Gamble with Neutral Rating, Announces Price Target of $159

Actor Jim Belushi compared the similarities of acting and cannabis to an audience at the<a href="https://www.benzinga.com/events/cannabis-conference/"> Benzinga Cannabis Capital Conference on Oct. 9.</a>
Here's a look at what makes the two sectors similar and more on Belushi's journey to help people through cannabis.
Acting to Cannabis: Belushi may be best known for his roles in television and movies, but at the 2024 Benzinga Cannabis Capital Conference, the audience and other speakers are aware of his efforts in <a href="https://www.benzinga.com/markets/cannabis/24/09/40720303/hollywood-star-jim-belushi-brings-cannabis-expertise-to-chicago-conference-in-october">the cannabis sector.</a>
The actor said "It's been a great journey" going from one farm to now having products sold in 14 states.
Cannabis is like acting, Belushi told the crowd.
Belushi said as an actor he asked himself why he was doing acting and it came down to the idea of making people feel good.
"You want them to leave the theater feeling good," Belushi said.
Belushi said the switch to cannabis comes with the same mentality.
"Adding on cannabis to my purpose, the purpose is the same. Cannabis makes people feel good."
The actor and cannabis entrepreneur said cannabis can help with pain, increase happiness and make people feel better overall. "I feel like I am totally on purpose from actor to cannabis," he said.
Belushi, who stars in "Growing Belushi," which airs on Warner Bros. Discovery (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBD#NASDAQ">WBD</a>)-owned Discovery, credits his partners and relationships in the industry for helping his growth.
"We are bred on a plant that is based on kindness, generosity and healing."
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>
Challenges of Cannabis: Belushi said one of the main differences between cannabis and "show business" is the amount of time it takes to get things done.
Within the cannabis industry, the biggest challenge Belushi highlighted was the price. "Growing is very expensive," Belushi said.
The actor and entrepreneur said the market is oversaturated and it's hard to make any margin in states like Oregon.
Asked later on about his advice to someone looking to start their own grow farm, Belushi answered, "Don't do it. Don't f&#x2A;&#x2A;&#x2A;ing do it."
Belushi admitted he never got involved in cannabis for the money and was just hoping to break even, adding "I already got my TV money."
Belushi said he got involved in cannabis and remains involved despite the struggles as people should focus on things they're passionate about.
"I have passion for what this plant can bring to our community."
 What's Next: Belushi said he was excited about the potential for rescheduling happening this year and questions why it hasn't happened.
Until rescheduling happens, Belushi said doctors at Veteran Affairs can't give people cannabis instead of oxycontin.
"Why aren't we taking care of them?" Belushi asked of the country's veterans.
Belushi also said he was disappointed to see Vice President Kamala Harris talk about putting so many people in California into jail when many were put in there for marijuana-related crimes. The actor noted that he is not anti-Harris, but disagrees in this matter.
Read Next: 
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Photo: Jim Belushi at the Benzinga Cannabis Conference 2024, Photo by Wendy Davis

Jim Belushi Compares Passion For Acting To Cannabis Business: 'Makes People Feel Good'

UBS analyst Trung Huynh maintains Bristol-Myers Squibb (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>) with a Neutral and raises the price target from $50 to $54.

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UBS analyst Colin Bristow maintains Merck &amp; Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRK#NYSE">MRK</a>) with a Buy and lowers the price target from $142 to $136.

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UBS analyst Navin Jacob maintains AbbVie (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABBV#NYSE">ABBV</a>) with a Neutral and raises the price target from $185 to $195.

ABBV

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UBS analyst Jay Sole maintains Deckers Outdoor (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DECK#NYSE">DECK</a>) with a Buy and raises the price target from $225 to $226.

DECK

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The recent rate cuts from the Federal Reserve are poised to create a ripple effect across the financial sector, particularly for dividend-paying stocks. In light of this, dividend-seeking investors might want to consider investing in companies like Visa (V), Mastercard Inc. (MA), and American Express (AXP), which not only have large cash reserves but have also proven resilient through various market conditions. Read on… With the recent Federal Reserve rate cuts, investors are eyeing opportunities in the financial sector, particularly those tied to dividend-paying stocks. In this context, stocks like Visa Inc. (<a href="https://stocknews.com/stock/V/">V</a>), Mastercard Incorporated (<a href="https://stocknews.com/stock/MA/">MA</a>), and American Express Company (<a href="https://stocknews.com/stock/AXP/">AXP</a>) are worth considering. These companies have a history of consistent dividend payouts, positioning them as stable options for investors looking to capitalize on the rate cuts.
Traditionally, financial companies thrive in higher interest rate environments, as they can boost their interest income. However, rate cuts like the recent <a href="https://www.cnbc.com/2024/09/18/fed-cuts-rates-september-2024-.html#:~:text=The%20Federal%20Open%20Market%20Committee%20chose%20to%20lower%20its%20key%20overnight%20borrowing%20rate%20by%20a%20half%20percentage%20point%2C%20or%2050%20basis%20points%2C%20amid%20signs%20that%20inflation%20was%20moderating%20and%20the%20labor%20market%20was%20weakening.">50 basis points drop</a> can still offer advantages for financial stocks, particularly those with solid dividend yields. Lower rates often give banks and financial institutions more liquidity, which supports lending activities and allows them to maintain or even raise their dividend payouts.
For investors, this could mean reliable income streams when other traditional sources of income, such as bonds, might not offer the same returns. Moreover, the financial services market is anticipated to reach $44.93 trillion by 2028, exhibiting a <a href="https://www.thebusinessresearchcompany.com/report/financial-services-global-market-report">CAGR of 7.6%</a>, further strengthening the appeal of dividend-paying stocks in this space.
Given these favorable trends, let's look at the fundamentals of the three <a href="https://stocknews.com/category/consumer-finance/">Consumer Financial Services</a> stock picks, starting with number 3.
Stock #3: Visa Inc. (<a href="https://stocknews.com/stock/V/">V</a>)
V is a leading payment technology company that facilitates digital payments among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. The company offers its products and services under Visa, Visa Electron, Interlink, VPAY, and PLUS brands.
On September 3, the company paid its shareholders a quarterly dividend of $0.52 per common stock. With 15 years of consecutive dividend growth, V pays an annual dividend of $2.08, which translates to a yield of 0.73% at the current share price. Its four-year average dividend yield is 0.68%. Moreover, its dividend payouts have increased at a CAGR of 17.6% over the past three years.
On July 9, V and HSBC Holdings plc (<a href="https://stocknews.com/stock/HSBC/">HSBC</a>) collaborated to develop Zing, HSBC's international payments app. With V's technological support solutions, Currencycloud and Tink, a single point of contact delivering a multi-currency wallet and multiple methods to top-up an account, was made possible in the Zing app.
V's net revenue for the third quarter (ended June 30, 2024) increased 9.6% year-over-year to $8.90 billion. Its operating income amounted to $5.94 billion, indicating an 18.2% growth from the prior year quarter. The company's non-GAAP <a href="https://www.investopedia.com/terms/n/netincome.asp">net income</a> came in at $4.91 billion and $2.42 per share, up 9.1% and 12% year-over-year, respectively.
Analysts expect V's revenue for the fourth quarter (ending September 2024) to increase 10.1% year-over-year to $9.48 billion, while its EPS for the same period is expected to grow 10.6% from the prior year to $2.58. Moreover, it topped the consensus EPS estimates in each of the trailing four quarters, which is excellent.
Over the past year, the stock has surged 17.7%, closing the last trading session at $284.77.
V's <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a> reflect this robust outlook. The stock has an overall rating of B, which equates to Buy in our proprietary rating system. The POWR Ratings are calculated by considering 118 different factors, with each factor weighted to an optimal degree.
V has a B grade for Momentum, Stability, and Quality. It is ranked #14 out of 46 stocks in the <a href="https://stocknews.com/category/consumer-finance/">Consumer Financial Services</a> industry. <a href="https://stocknews.com/stock/V/">Click here</a> to see the additional ratings for V (Growth, Value, and Sentiment).
Stock #2: American Express Company (<a href="https://stocknews.com/stock/AXP/">AXP</a>)
AXP operates as a global integrated payments company that provides customers access to products, insights, and experiences that build a business. The company operates through four segments: U.S. Consumer Services; Commercial Services; International Card Services; and Global Merchant &amp; Network Services. 
On August 14, AXP announced plans to open a new Centurion&#xAE; Lounge at Salt Lake City International Airport (SLC). The lounge will be 16,000 square feet, and premium amenities will be available to its Card Members.
On August 9, demonstrating its commitment to returning value to shareholders, the company paid a quarterly dividend of $0.70 per share. AXP pays an annual dividend of $2.80, which translates to a yield of 1.04% at the current share price. Its four-year average dividend yield is 1.22%. Also, the company's dividend payouts have increased at a CAGR of 14.8% over the past three years.
During the second quarter that ended on June 30, 2024, AXP's total revenues net of interest expense increased 8.5% year-over-year to $16.33 billion, primarily driven by higher net interest income, increased Card member spending, and strong card fees. In addition, its net income amounted to $3.02 billion and $4.15 per share, reflecting an increase of 38.7% and 43.6% year-over-year, respectively.
Street expects AXP's revenue for the fiscal fourth quarter (ending December 2024) to increase 8.7% year-over-year to $17.17 billion. Moreover, its EPS estimate of $2.98 for the same period indicates a 13.6% year-over-year growth. In addition, it surpassed the EPS estimates in three of the trailing four quarters, which is promising.
The stock has gained 71.1% over the past year and 48.9% over the past nine months to close the last trading session at $268.99.
AXP's bright prospects are reflected in its POWR Ratings. The stock has an overall rating of B, which translates to a Buy in our proprietary rating system.
It also has a B grade for Momentum, Stability, and Sentiment. Within the same industry, it is ranked #10. <a href="https://stocknews.com/stock/AXP/">Click here</a> to see the other AXP ratings for Growth, Value, and Quality.
Stock #1: Mastercard Incorporated (<a href="https://stocknews.com/stock/MA/">MA</a>)
MA is a technology company that provides transaction processing and other payment-related products and services worldwide. It allows users to make payments by creating a range of payment solutions and services using its brands, MasterCard; Maestro; and Cirrus, through electronic forms of payment.
On September 16, buoyed by strong financial performance, the company declared a quarterly dividend of $0.66 per share, payable on November 8, to the shareholders of record on October 9, 2024.
MA pays an annual dividend of $2.64, which translates to a yield of 0.54% at the current share price. Its four-year average dividend yield is 0.53%. Moreover, the company's dividend payouts have increased at an impressive CAGR of 15.5% over the past five years.
For the second quarter of 2024, which ended on June 30, MA's net revenues increased 11% year-over-year to $6.96 billion. Its operating income rose 10.4% from the year-ago value to $4.04 billion. The company's non-GAAP net income stood at $3.34 billion, up 21.8% year-over-year, while its adjusted earnings per share amounted to $3.59, representing an increase of 24.2% from the last year.
The consensus revenue estimate of $7.26 billion for the fiscal third quarter (ending September 2024) represents an 11.1% increase year-over-year. The consensus EPS estimate of $3.73 for the same quarter indicates a 10.1% improvement year-over-year. The company has an excellent surprise history; it surpassed the consensus revenue and EPS estimates in each of the trailing four quarters.
MA shares have surged 20% over the past year and 17.5% over the past nine months to close the last trading session at $492.74.
It's no surprise that MA has an overall rating of B, equating to a Buy in our POWR Ratings system. It has a B grade for Momentum, Stability, and Quality. Out of 46 stocks in the Consumer Financial Services industry, MA is ranked #8.
Beyond what is stated above, we've also rated MA for Growth, Value, and Sentiment. Get all MA ratings <a href="https://stocknews.com/stock/MA/">here</a>.
What To Do Next?
43 year investment veteran, Steve Reitmeister, has just released his 2024 market outlook along with trading plan and top 11 picks for the year ahead.
<a href="https://report.stocknews.com/sign-up/stock-market-outlook-2024/?formplacement=artbotad_smo24_rep">2024 Stock Market Outlook &gt;</a>

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V shares closed at $284.77 on Friday, down $-0.47 (-0.16%). Year-to-date, V has gained 10.01%, versus a 20.31% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Shweta Kumari</h2> <img src='https:/wp-content/uploads/2022/03/Shweta-Kumari_Image-2.jpg' style="float:left; padding:5px;width:125px;">Shweta's profound interest in financial research and quantitative analysis led her to pursue a career as an investment analyst. She uses her knowledge to help retail investors make educated investment decisions.<a href="https://stocknews.com/authors/?author=shweta-kumari">More...</a>The post <a href=https://stocknews.com/news/v-ma-axp-hsbc-3-top-financial-stocks-paying-juicy-dividends/>3 Top Financial Stocks Paying Juicy Dividends</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

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