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North Dakota voters rejected Initiative Measure 5 legalizing recreational cannabis on Tuesday, with those opposed garnering 53.% of the vote, <a href="https://apnews.com/projects/election-results-2024/north-dakota/?r=83047">according</a> to AP.
The third time was not the charm for voters in North Dakota to legalize marijuana. Two years ago, a similar measure was also <a href="https://www.benzinga.com/markets/cannabis/22/11/29627576/north-dakota-loses-bid-to-legalize-adult-use-cannabis">rejected at the ballot box</a>, and another attempt in 2018 also failed. Even though Measure 5 offered a more structured approach to regulation and licensing, it was not enough to gather support. Even a summer poll indicated a tight battle, with <a href="https://www.benzinga.com/markets/cannabis/24/07/39602457/majority-of-north-dakotans-are-against-legal-weed-new-poll-finds">most voters not wanting legal weed</a>.
"While we are disappointed that Measure 5 did not pass, Curaleaf remains committed to advocating for responsible cannabis access and education across the country," Curaleaf&#8217;s (OTCQX:<a class="ticker" href="https://www.benzinga.com/stock/CURLF#OTCQX">CURLF</a>) chairman and CEO Boris Jordan told Benzinga. "Although this outcome continues to delay the opportunity for legal cannabis in North Dakota, we respect the democratic process and the will of the voters. Curaleaf believes in the potential of cannabis to improve lives and drive economic growth through job creation and tax revenue. As more states across the country embrace reform, we are confident that North Dakota will continue the conversation about cannabis legalization in the future.&#8221;
The New Economic Frontier formally launched the campaign in April after filing the initiative with the state. The organization highlighted the financial benefits North Dakota could gain by following neighboring states that have already legalized cannabis. 
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/11/41726679/village-farms-is-only-cannabis-operator-selected-to-represent-weed-industry-at-dea-rescheduling-">Village Farms Is Only Cannabis Operator Selected To Represent Weed Industry At DEA Rescheduling Hearing</a>
<h2 class="wp-block-heading">Measure 5</h2>
Under this measure, adults 21 and older would be allowed to use cannabis at home without punishment. The proposal would have allowed possession of one ounce of cannabis, 4 grams of concentrate and 1,500 milligrams of adult-use cannabinoid products. 
"Due to the failure to pass Measure 5, individuals in the state can still face criminal penalties for possession—from a criminal infraction of up to a $1,000 fine to a Class A misdemeanor," Paula Savchenko Esq., founding partner of Cannacore Group and PS Law Group told Benzinga. "Although criminal charges for cannabis-related offenses have declined since the state implemented its medical cannabis program, over 1,800 arrests were related to cannabis in 2023."
According to her, with medical cannabis sales at $21.6 million for the state in 2023, adult-use sales could reach $70 million within its first year of operations and acquire up to $115 million by its fourth year. She stressed that "the state has forgone the potential tax revenue from the program, which could have supported public services such as health, infrastructure and education.&#8221;
Savchenko pointed out that it is unlikely any other legalization effort will make it through the legislature, which means that voters will not be able to legalize adult-use cannabis until the next general election in 2026.
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.
<h2 class="wp-block-heading">Industry Reactions</h2>
Leafwell CEO Emily Fisher told Benzinga, &#8220;Leafwell is disappointed that North Dakota did not support Measure 5, which would have expanded responsible access to cannabis for adults. We remain committed to educating and guiding North Dakotans on safe cannabis care and will continue to work toward increased access and regulation in the state.&#8221;
Gurpreet (Pete) Sahani CEO of The Blinc Group, commented, "Although this vote did not result in the legalization of recreational cannabis, the push for reform is far from over. Cannabis has already become a part of the national conversation, and North Dakota's progress toward legalization will continue. Advocates will keep pushing for a legal framework that promotes responsible use, economic growth, and social justice, ensuring this effort returns stronger in the next election cycle.
Louis Samuel, CEO of Golden State Canna, said "For the third time the voters of North Dakota have decided that the nickname they hold on their license plates, ‘The Peace Garden State' excludes the plant more associated with Peace than any other. Measure 5 provided an opportunity to overcome past failures of initiative and increase liberty in the state, but instead the voters of North Dakota have chosen to place tradition over progress and keep a shadow over their garden."
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Photo: Courtesy of CRYSTALWEED cannabis on Unsplash

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North Dakotans Reject Measure To Legalize Recreational Cannabis, 'Keeping A Shadow Over Their Garden'

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Reported Earlier, au Jibun Bank Japan Services Purchasing Managers' Index For October 49.7 Vs. 49.3 Est.; 53.1 Prior

Nebraska voters chose to legalize and regulate medical cannabis on Tuesday via two ballot measures. 
<h3 class="wp-block-heading">What Happened </h3>
The AP <a href="https://apnews.com/projects/election-results-2024/nebraska/?r=83199">reported</a> Tuesday night that with nearly 60% of the votes counted, over 72.4% of Nebraska voters said yes to Initiative 437, thus enacting the Nebraska Medical Cannabis Protection Act. And 68.5% of voters approved Initiative 438, which enacts the Nebraska Medical Cannabis Regulation Act that will create a government board to regulate medical cannabis for patients.
<a href="https://www.benzinga.com/markets/cannabis/24/07/39598184/is-third-time-the-charm-nebraska-medical-marijuana-campaign-needs-12-000-more-signatures-by-july">After two unsuccessful attempts</a> &#8211; in 2020 and <a href="https://www.benzinga.com/markets/cannabis/22/07/28000535/nebraska-medical-cannabis-activists-submit-ballot-signatures-despite-legal-setback-financial-str">again in 2022</a> &#8211; to legalize medical marijuana, Nebraskans for Medical Marijuana, the cannabis legalization advocate group led by <a href="https://www.benzinga.com/markets/cannabis/24/07/39598184/is-third-time-the-charm-nebraska-medical-marijuana-campaign-needs-12-000-more-signatures-by-july">campaign manager</a> Crista Eggers, has made it. Activists submitted the required number of signatures earlier this year, totaling close to 115,000, surpassing the 86,500 needed. Secretary of State Bob Evnen certified both measures.
<h3 class="wp-block-heading">Why It Matters</h3>
Nebraska Medical Cannabis Protection Act allows qualified patients to use and possess up to five ounces of cannabis to treat and help alleviate their health conditions.
Under the Nebraska Medical Cannabis Regulation Act, Nebraska Medical Cannabis Commission is charged with establishing and adopting regulations for the new market.
Paula Savchenko, Esq.,&nbsp;founding&nbsp;partner of&nbsp;Cannacore Group&nbsp;and&nbsp;PS Law Group, shed light on the timeline of setting up a new market and a regulatory frame around it.
&#8220;Following the adoption of the Commission's regulations, the Commission must grant medical cannabis business licenses by October 1, 2025,&#8221; Savchenko told Benzinga. &#8220;Based on the proposed timeline set forth in the Act, the market may open as early as Summer 2026, depending on various factors such as construction of facilities, Commission inspections, licensing roll-out and potential litigation.&#8221;
Read Also: <a href="https://www.benzinga.com/markets/cannabis/23/10/35223869/nebraska-senate-hopeful-and-union-leader-at-first-says-no-but-then-opens-up-about-trying-marijua" target="_blank" rel="noreferrer noopener">Nebraska Senate Hopeful And Union Leader At First Says No, But Then Opens Up About Trying Marijuana</a>
<h3 class="wp-block-heading">Industry Praises Ballot Results</h3>
David Craig, chief marketing officer of Illicit Garden, which operates in neighboring Missouri where the use of both medical and recreational cannabis is legal, praised the ballot results.
&#8220;We applaud the citizens of Nebraska for embracing this significant change,&#8221; Craig said. &#8220;Legalizing medical cannabis opens the door to numerous opportunities—from boosting the state&#8217;s economy to rectifying long-standing social injustices related to cannabis prohibition. The cannabis industry is eager to collaborate with state officials, businesses, and community organizations to ensure the responsible and effective implementation of the new law.&#8221;
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<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>
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Gurpreet (Pete) Sahani CEO of The Blinc Group, a company headquartered in New York City that designs, develops, supplies and supports premium cannabis vaping hardware, said legalization of medical cannabis is a &#8220;monumental step&#8221; for Nebraska.
&#8220;It will not only generate significant tax revenue for essential services like education and infrastructure but also relieve the criminal justice system of low-level cannabis offenses,&#8221; Sahani said. &#8220;With this new framework, Nebraska can establish a well-regulated market that prioritizes safety and accountability while offering a pathway to expungement for past cannabis-related offenses, rectifying past injustices."
John Mueller, CEO of Greenlight, a company that invested in the initiative, said "Today's decision by Nebraska voters marks the end of unnecessary delays and the beginning of a modern medical cannabis program rooted in proven healthcare practices."
<h3 class="wp-block-heading">Legal Disputes</h3>
However, Savchenko said the ongoing legal hurdles around the validity of the Initiatives&#8217; signatures could endanger legalization efforts.
Last week, Lancaster County District Judge Susan Strong allowed the votes cast for or against Nebraska's two medical cannabis ballot measures to be counted and made public.
The decision is an answer to a <a href="https://www.benzinga.com/markets/cannabis/24/09/40859403/former-gop-senator-wants-to-stop-cannabis-ballot-in-nebraska-lawsuit-targets-secretary-of-state-">lawsuit</a> filed by John Kuehn, who served in the Legislature from 2015 to 2019 and has been a leader in the anti-legalization group Smart Approaches to Marijuana (SAM), in September. He attempted to block medical marijuana measures from reaching the ballot.
&#8220;Closing arguments concluded last week, and Judge Susan Strong of the Lancaster County District Court has given both parties until November 12, 2024, to submit additional briefs,&#8221; Savchenko said. &#8220;A ruling may take several weeks, with medical cannabis advocates prepared to demonstrate sufficient signatures if the Judge rules in favor of the plaintiffs.&#8221;
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/cannabis/24/11/41744722/election-day-2024-will-florida-nebraska-north-and-south-dakota-join-the-marijuana-revolution">Election Day 2024: Will Florida, Nebraska, North And South Dakota Join The Marijuana Revolution?</a></li>
</ul>

Regulations

Politics

Nebraska Says Yes To Medical Cannabis After Years Of Failed Legalization Attempts: Here's What You Need To Know

Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) has been fined $15 million by South Korea for unlawfully gathering sensitive personal information from Facebook users.
What Happened: The South Korean Personal Information Protection Commission found Mark Zuckerberg led Meta guilty of illegally collecting sensitive personal information from Facebook users, including details about their political views and sexual orientation. This information was then shared with thousands of advertisers, <a href="https://apnews.com/article/meta-facebook-south-korea-fine-privacy-9a1e9500d0462112c422e0612f1f7085">reported</a> the Associated Press.
The commission&#8217;s four-year investigation revealed that Meta had collected sensitive information about nearly 980,000 Facebook users from July 2018 to March 2022. This included their religion, political views, and whether they were in same-sex unions. The company then shared this data with around 4,000 advertisers.
According to South Korea&#8217;s privacy law, companies are prohibited from processing or using such data without the specific consent of the individuals involved. The commission also found that Meta failed to implement basic security measures, leading to data breaches affecting at least 10 South Korean Facebook users.
This is not the first time that Meta has faced penalties in South Korea. In 2022, the company was fined a combined 100 billion won ($72 million) for tracking consumers&#8217; online behavior without their consent and using their data for targeted advertisements.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41763537/bitcoin-hits-71k-ethereum-dogecoin-surge-as-results-trickle-in-for-trump-harris-presidenti?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin Hits $71K, Ethereum, Dogecoin Surge As Results Trickle In For Trump-Harris Presidential Battle: Analyst Predicts &#8216;Kickstart Of The Bull Market&#8217;</a>
Why It Matters: This fine is the latest in a series of penalties against Meta by South Korean authorities, reflecting a growing global trend of increased scrutiny over big tech companies&#8217; handling of private information. In September, European regulators also fined Meta over $100 million for a <a href="https://www.benzinga.com/news/24/07/39899685/meta-says-facebook-is-free-eu-threatens-to-fine-mark-zuckerberg-led-social-media-giant">security lapse in 2019</a>.
Despite these legal challenges, Meta has been making significant moves in the <a href="https://www.benzinga.com/markets/equities/24/11/41735903/meta-amazon-microsoft-partner-on-defense-ai-initiative">tech and defense sectors</a>. Earlier this week, the company announced a partnership with Amazon and Microsoft to provide its Llama artificial intelligence models for national security and defense applications. 
Meanwhile, <a href="https://www.benzinga.com/markets/equities/24/10/41658862/meta-is-an-ai-story-fueled-by-llama-and-meta-ai-says-bullish-analyst">analysts have been bullish</a> on Meta&#8217;s AI capabilities, with Bank of America labeling it an &#8220;AI Story&#8221; and pointing to the rapid and growing adoption of Llama and Meta AI. The firm also raised ad revenue estimates on product traction and anticipates Meta&#8217;s AI-driven ad improvements to play out in 2025.
Price Action: Meta stock closed at $572.43 on Tuesday, rising by 2.10%, for the day. In after-hours trading, the stock decreased 0.42%. Year to date, the stock has gained 65.30%, according to&nbsp;<a href="https://pro.benzinga.com/dashboard" target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/equities/24/11/41703265/haley-tells-pennsylvania-voters-to-put-emotion-aside-and-rally-behind-trump?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Haley Tells Pennsylvania Voters To Put Emotion Aside And Rally Behind Trump</a></li>
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Image Via Unsplash
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>

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Mark Zuckerberg-Led Meta Fined $15M In South Korea For Collecting Data Of Facebook Users Illegally

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Benzinga Election Update: AP Projects Trump With 230 Electoral Votes, Harris With 187 Electoral Votes, AP Projects Trump To Win North Carolina; Florida Rejects Cannabis Legalization Amendment

In a landmark decision, some 65% of Dallas voters approved the &#8220;Dallas Freedom Act&#8221; on Tuesday to decriminalize small amount of cannabis, setting the stage for major cannabis reform in one of Texas&#8217;s largest cities.
Election data from the Dallas County elections office indicate that roughly 149,500 people voted in favor of decriminalization, while approximately 81,200 voted against it, <a href="https://www.statesman.com/story/news/politics/elections/2024/11/05/dallas-county-2024-election-results-texas-marijuana-decriminalization-laws/76082707007/">according</a> to the Austin American Statesman.
Natalie Marquez, local field director with Dallas Freedom Act, said the early votes show that the Dallas community has decided it's time for a change.
"This decisive victory is very loud and clear when it comes to the state government's outdated approach to marijuana regulation, which has unnecessarily criminalized countless of Texas," Marquez said, as <a href="https://www.dallasnews.com/news/2024/11/05/dallas-voters-weed-proposition-marijuana-ballot/">reported</a> the Dallas Morning News.
With this vote, Dallas joins a growing list of cities across the state pushing for progressive marijuana policies, effectively decriminalizing possession of up to 4 ounces of cannabis.
<h3 class="wp-block-heading">What The New Law Means For Dallas</h3>
Under the newly approved amendment, the Dallas Police Department will cease issuing citations or making arrests for Class A or Class B misdemeanor marijuana possession offenses. 
The amendment further prohibits city funds from being used to test cannabis-related substances to determine legality under state and federal laws. Additionally, the Dallas Police are now restricted from using the smell of marijuana as probable cause for search and seizure, except under limited investigative circumstances. Violations of this policy could lead to penalties for officers, signaling a strong stance on civil liberties.
This decision comes after a successful petition drive led by Ground Game Texas, which gathered enough signatures to place the amendment on the ballot. The movement to reform cannabis laws in Dallas reflects broader statewide efforts, although resistance remains from figures like Attorney General Ken Paxton, who has been prosecuting other Texas cities for similar reforms.
<a href="https://drupal-cloudfront.benzinga.com/topic/cannabis-texas" target="_blank" rel="noreferrer noopener">Ground Game Texas</a>, the statewide advocacy group that has led or supported at least 10 city-based marijuana campaigns across the stat celebrated the news on X.
<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">&#x1f33f; Weed Did It, Dallas! &#x1f33f; Prop R has passed! Together, we've taken a big step toward justice, freedom, and a better future for our community. This is more than a victory for marijuana decriminalization—it's a win for the people of Dallas! &#x1f49a; <a href="https://t.co/yI26LKRity">pic.twitter.com/yI26LKRity</a>
&mdash; GroundGameTX (@GroundGameTX) <a href="https://twitter.com/GroundGameTX/status/1853993479610749376?ref_src=twsrc%5Etfw">November 6, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
<h3 class="wp-block-heading">Expanding Reforms Across Texas</h3>
In addition to Dallas, voters in Lockhart and Bastrop also weighed in on local cannabis decriminalization measures Tuesday. Results had not been made public at the time of this writing. 
As Dallas embraces this policy change, proponents see it as a step toward reshaping Texas's stance on cannabis. Supporters hope this will encourage other major cities to follow suit, despite legal pushback from state authorities.
<ul>
<li>Read Next: <a href="https://www.benzinga.com/markets/cannabis/24/11/41750994/2024-election-spotlight-massachusetts-and-oregon-tackle-psychedelics-reform">2024 Election Spotlight: Massachusetts And Oregon Tackle Psychedelics Reform</a></li>
</ul>
Cover: Photo by <a href="https://pixabay.com/es/users/timurban89-4260284/?utm_source=link-attribution&amp;utm_medium=referral&amp;utm_campaign=image&amp;utm_content=5307421">Tim Urban</a> via <a href="https://pixabay.com/es//?utm_source=link-attribution&amp;utm_medium=referral&amp;utm_campaign=image&amp;utm_content=5307421">Pixabay</a>

Dallas Overwhelming Approves Cannabis Decriminalization In Ballot Vote

AP Projects Trump Wins North Carolina

AI startup&nbsp;Perplexity, backed by Amazon.com, Inc. founder&nbsp;Jeff Bezos, is set to triple its valuation in its <a href="https://www.benzinga.com/markets/equities/24/10/41420230/jeff-bezos-backed-perplexity-aims-for-8b-valuation-in-new-funding-round-ai-fueled-google-challen">fourth funding round</a>&nbsp;this year.
What Happened: Perplexity is finalizing a funding round that would see its valuation skyrocket to $9 billion, an increase from its valuation of&nbsp;$520 million at the start&nbsp;of the year.
The AI-powered search company plans to raise $500 million,&nbsp;with Institutional Venture Partners leading the round, <a href="https://www.wsj.com/tech/ai/ai-startup-perplexity-to-triple-valuation-to-9-billion-in-new-funding-round-f2fb8c2c?mod=hp_lead_pos5">reported</a> the Wall Street Journal, citing people familiar with the matter.
The funding comes amid increased competition from ChatGPT-parent OpenAI and Alphbaet Inc.&#8217;s (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>) Google, both of which have introduced AI-powered <a href="https://www.benzinga.com/news/24/09/41087674/openais-searchgpt-set-to-disrupt-googles-search-empire-as-former-engineer-sounds-alarm-on-deteriorat">features in their search engines</a>.
Last month, OpenAI secured more than $6.5 billion in new funding&nbsp;at a <a href="https://www.benzinga.com/news/24/10/41149788/openai-valuation-soars-to-157b-in-latest-funding-round">valuation of $157&nbsp;billion</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: In April 2024, Perplexity became a unicorn after a funding round that more than <a href="https://www.benzinga.com/news/24/04/38398735/jeff-bezos-backed-perplexity-ai-is-now-a-unicorn-after-latest-fundraise-softbanks-masayoshi-son-nvid">doubled its valuation to over $1 billion</a>. By August, the startup&#8217;s revenue and usage had grown <a href="https://www.benzinga.com/general/entrepreneurship/24/08/40292703/perplexity-ais-revenue-usage-skyrocket-as-it-enters-into-advertising">700% since the start of the year</a>.
Last month, Perplexity <a href="https://www.benzinga.com/news/24/10/41399723/jeff-bezos-backed-perplexity-ai-aims-to-break-google-and-metas-duopoly-with-new-internal-knowledge-s">introduced new features</a> aimed at improving user experience and breaking the duopoly of Google and Meta Platforms in the search and advertising industry.
However, the AI startup, which provides answers to&nbsp;questions by searching the web, has also <a href="https://www.benzinga.com/news/24/10/41442679/rupert-murdochs-dow-jones-new-york-post-sue-jeff-bezos-backed-perplexity-for-copyright-infringement">faced criticism from&nbsp;news</a> companies for using their&nbsp;reporting without fair compensation.
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>.
Photo courtesy: Shutterstock
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Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

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Jeff Bezos-Backed AI Startup Perplexity Set To Triple Valuation To $9B in Fourth Funding Round — Can It Beat OpenAI And Google?

Popular dog-themed meme cryptocurrency, Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>), soared on election night amid heightened expectations of an Elon Musk-touted Department of Government Efficiency (DOGE) under the new Donald Trump administration.
What happened: The original meme coin exploded more than 25% in the last 24 hours to $0.20, the highest it has been in the last seven months.&nbsp;
DOGE's trading volume spiked 117% to over $6 billion, making it the third-most traded cryptocurrency in the last 24 hours, behind Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>).
The rally pushed the meme token's monthly gains past 84% and year-to-date returns to 135%.&nbsp;
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41756625/will-donald-trump-prematurely-claim-victory-5-polymarket-markets-to-watch-on-election-nigh">Will Donald Trump Prematurely Claim Victory? 5 Polymarket Markets To Watch On Election Night</a>
Why It Matters: The jump came as the cryptocurrency market leaned in favor of a Trump victory after <a href="https://www.benzinga.com/news/24/11/41762845/trump-wins-kentucky-indiana-harris-scores-vermont-as-polls-begin-to-close-across-us">preliminary results showed</a> the GOP nominee securing Kentucky and Indiana while also leading in the battleground states of Georgia and Pennsylvania.&nbsp;
The odds of a Trump <a href="https://polymarket.com/">win </a>shot up to 88% on cryptocurrency-based prediction market Polymarket as of this writing.
Trump's victory is closely tied to DOGE's fortunes, as Musk, arguably the coin's most influential cheerleader, would join the administration to lead the <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">so-called DOGE department</a> to address what he saw as issues in the federal bureaucracy.
Musk has been <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41734897/elon-musks-doge-department-mention-gives-dogecoin-boost-to-top-of-daily-gainers-memecoin-s">marketing the DOGE department</a> everywhere, from X posts to political rallies, resulting in brief but sharp rises for the meme coin.
Price Action: At the time of writing, Dogecoin was exchanging hands at $0.2046, up 25.64% 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>.
Read Next:&nbsp;
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41763299/trump-themed-cryptos-nfts-surge-in-expectations-of-former-presidents-victory-coin-inspired">Trump-Themed Cryptos, NFTs Surge In Expectations Of Former President&#8217;s Victory — Coin Inspired By Harris Falls 13%</a></li>
</ul>

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Dogecoin Powers To 7-Month High As Investors Anticipate Musk-Headed DOGE Department Under Trump

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Benzinga Market Summary: S&P And Nasdaq Futures Rise, Bitcoin Reaches All-Time High Amid US Presidential Election, Florida Rejects Cannabis Legalization Amendment

Jim Cramer, the host of CNBC&#8217;s &#8220;Mad Money,&#8221; has criticized Super Micro Computer Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>) for its recent business update and preliminary <a href="https://www.benzinga.com/news/earnings/24/11/41759924/super-micro-computer-stock-sinks-on-preliminary-q1-results-q2-guidance-business-update">first-quarter results</a>.
What Happened: Cramer took to X to express his views on Super Micro&#8217;s performance. &#8220;Super Micro is so good at exonerating itself, better than it is selling,&#8221; NVIDIA Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) GPUs, he wrote.
<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">Super Micro is so good at exonerating itself, better than it is selling Nvidia gpus!
&mdash; Jim Cramer (@jimcramer) <a href="https://twitter.com/jimcramer/status/1853925747028533690?ref_src=twsrc%5Etfw">November 5, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
The tweet comes after Super Micro provided its <a href="https://www.benzinga.com/news/earnings/24/11/41759924/super-micro-computer-stock-sinks-on-preliminary-q1-results-q2-guidance-business-update">preliminary first-quarter results</a> on Tuesday. The company expects to report revenue of $5.9 billion to $6 billion for the quarter, a decrease from its previous guidance of $6 billion to $7 billion.
The company also anticipates adjusted earnings of 75 cents to 76 cents per share, compared to its previous guidance of 67 cents to 83 cents per share. The first-quarter gross margin is expected to be around 13.3%.
See Also: <a href="https://www.benzinga.com/markets/equities/24/11/41734592/palantir-trump-media-hims-hers-health-nxp-semiconductors-and-tesla-why-these-5-stocks-are-on-inv?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">PLTR, DJT, HIMS, NXPI, TSLA: Top 5 Trending Stocks Today</a>
Why It Matters: Super Micro&#8217;s <a href="https://www.benzinga.com/news/earnings/24/11/41759924/super-micro-computer-stock-sinks-on-preliminary-q1-results-q2-guidance-business-update">second-quarter revenue</a> is projected to be between $5.5 billion and $6.1 billion, with adjusted earnings of 56 cents to 65 cents per share. 
Super Micro&#8217;s financial credibility has been a concern for investors following significant governance issues. The company&#8217;s <a href="https://www.benzinga.com/trading-ideas/movers/24/10/41625460/super-micro-computer-stock-dives-as-auditor-resigns-whats-going-on">shares plunged after its independent auditor</a>, Ernst &amp; Young, resigned due to governance and transparency concerns. Super Micro has been working to stabilize in the wake of these challenges.
Price Action: Super Micro Computer Inc. closed at $27.70 on Tuesday, marking a gain of 6.42%, for the day. In after-hours trading, the stock dropped 15.88%. Year to date, the stock is down 2.98%, according to&nbsp;<a href="https://pro.benzinga.com/dashboard" target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>. 
Read Next: 
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<li><a href="https://www.benzinga.com/markets/equities/24/11/41763411/jeff-bezos-sells-214m-worth-of-amazon-shares-in-latest-stock-move-heres-how-much-he-still-owns">Jeff Bezos Sells $214M Worth Of Amazon Shares In Latest Stock Move, Here&#8217;s How Much He Still Owns</a></li>
</ul>
Image Via Shutterstock
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

NVDA

SMCI

Jim Cramer Blasts Super Micro Computer's Earnings: 'Better At Exonerating Itself Than Selling' Nvidia GPUs

AP Projects Trump Wins Iowa

In a landmark moment for American politics, Sarah McBride has been elected as the first openly transgender member of the U.S. House of Representatives.
What Happened: On Tuesday, State Senator McBride, 34, secured a victory in Delaware&#8217;s at-large congressional district, a region with a Democratic inclination, <a href="https://apnews.com/live/trump-harris-election-updates-11-5-2024?tab=00000192-fa45-d414-a79f-ff5daacf0000">according</a> to the Associated Press.
She won against Republican candidate John Whalen with a margin of 747,42 votes.
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/11/41733346/obamas-former-campaign-manager-alarmed-by-early-voting-numbers-as-harris-trump-fight-close-battle-re?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Obama&#8217;s Former Campaign Manager Alarmed By Early Voting Numbers As Harris-Trump Fight Close Battle: &#8216;Republicans Didn&#8217;t Do What They Did Last Time&#8217;</a>
This achievement follows her successful primary campaign in September, reported Reuters.
McBride has been a pioneer for transgender rights, with a history of firsts to her name. She was&nbsp;the first openly transgender person&nbsp;to serve as a state&nbsp;senator, elected in 2020.
She also made history as the first to speak at a U.S. national political party convention in 2016, and the first to intern at the White House in 2012, under the administration of former President Barack Obama.
Why It Matters: As of the latest updates from the Associated Press, the current standings in U.S. politics are as follows:
In the presidential race, the Republican candidate, Donald Trump, led with 198 electoral votes, while the Democratic nominee, Kamala Harris, secured 109.
In the Senate, Republicans are also ahead with 47 seats, compared to the Democrats&#8217; 36. Similarly, in the House of Representatives, Republicans lead with 124 seats, while the Democrats hold 85.
For gubernatorial races, Republicans have the edge with 25 governors, while Democrats have 22.
Read Next:
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<li><a href="https://www.benzinga.com/general/politics/24/11/41732623/bakery-that-often-predicts-election-outcomes-has-this-candidate-winning-in-trump-harris-battle-d?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bakery That Often Predicts Election Outcomes Has This Candidate Winning In Trump, Harris Battle: &#8216;Doughmacracy For All!&#8217;</a></li>
</ul>
Image Courtesy: Wikimedia Commons
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Sarah McBride Becomes The First Openly Transgender US Congresswoman

Key indicators of the financial market&#8217;s health reacted as investors began to parse early results of the high-stakes presidential battle between Donald Trump and Kamala Harris.
What happened:&nbsp;
<ul>
<li>Stock futures edged higher on election night, with those tied to the Dow Jones Industrial Average lifting 277 points, or 0.67%, as of 9 p.m. ET. Futures linked to the S&amp;P 500 were up 0.55%.</li>
</ul>
<ul>
<li>Oil prices took a hit, with the U.S. West Texas Intermediate (WTI) falling 0.44% to $71.69 a barrel. Price rose 6%, however, in the week preceding the election.</li>
</ul>
<ul>
<li>Spot gold rose by 0.15% to $2,747.98 per ounce, with gold futures on the Commodity Exchange (COMEX) also climbing by 0.17%.</li>
</ul>
<ul>
<li>Currency traders picked up the greenback as the U.S. Dollar Index, or the DXY, rose 1.20% to climb above 104.&nbsp;</li>
</ul>
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41756625/will-donald-trump-prematurely-claim-victory-5-polymarket-markets-to-watch-on-election-nigh">Will Donald Trump Prematurely Claim Victory? 5 Polymarket Markets To Watch On Election Night</a>
Why It Matters: The moves come as Trump <a href="https://www.benzinga.com/news/24/11/41762845/trump-wins-kentucky-indiana-harris-scores-vermont-as-polls-begin-to-close-across-us">won the red states of Kentucky, Florida and Indiana</a>, while Harris secured victory in Massachusetts, New Jersey, and New York.&nbsp;
The fight was getting tighter in battleground states, with Trump leading Georgia and Harris staying ahead in Pennsylvania, according to the Associated Press.
Leading cryptocurrencies like Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) also soared in anticipation of a Trump victory, with the apex cryptocurrency powering above $73,000.
Read Next:&nbsp;
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41763299/trump-themed-cryptos-nfts-surge-in-expectations-of-former-presidents-victory-coin-inspired">Trump-Themed Cryptos, NFTs Surge In Expectations Of Former President&#8217;s Victory — Coin Inspired By Harris Falls 13%</a></li>
</ul>

Bitcoin Past $73K — Dollar, Gold, Stock Futures Rise As Trump-Harris Results Trickle In

Bitcoin Futures Pass $73K

Leading cryptocurrencies jumped as polls began to close in the high-stakes presidential election between Donald Trump and Kamala Harris.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 8:30 p.m. EDT)</td>
</tr>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>+4.68%</td>
<td>$71,154.46</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>+2.23%</td>
<td>$2,460.12</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>+8.20%</td>
<td>$0.1763</td>
</tr>
</tbody>
</table>
</figure>
What Happened: After days of retracement, Bitcoin got back in the groove as it breached the $71,000 level. The leading cryptocurrency was just 3.8% away from its all-time high of $73,737.
Ethereum also approached $2,500, while Dogecoin, the king of joke coins, surged by more than 8% as election results began to come in.
Trump was leading in the battleground states of Georgia and Florida, resulting in his <a href="https://polymarket.com/event/presidential-election-winner-2024?tid=1730855062824">odds </a>on Polymarket shooting to 72%.&nbsp;
Ethereum also encountered heavy sell-offs, while Dogecoin outperformed the market with over 8% gains in the last 24 hours.
Short sellers suffered as more than $133 million in bearish bets were wiped out due to the rally.&nbsp;
Bitcoin's Open Interest spiked 3.70%, while top traders on the cryptocurrency exchange Binance remained bullishly positioned for the coin.&nbsp;
Market participants remained "Greedy," as per the Cryptocurrency Fear and Greed Index.
Top Gainers (24-Hours)
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 8:45 p.m. EDT)</td>
</tr>
<tr>
<td>Artificial Superintelligence Alliance(FET)</td>
<td>+1.27%</td>
<td>$0.1633</td>
</tr>
<tr>
<td>Cat in a dogs world (MEW)</td>
<td>+11.44%</td>
<td>$0.008809</td>
</tr>
<tr>
<td>Bittensor (TAO)</td>
<td>+10.59%</td>
<td>$469.17</td>
</tr>
</tbody>
</table>
</figure>
The global cryptocurrency stood at $2.34 trillion, following a spike of 5.22% in the last 24 hours.
Stocks surged sharply Tuesday in anticipation of the results. The Dow Jones Industrial Average gained 427.28 points, or 1.02%, to close at 42,221.88. The S&amp;P 500 jumped 1.23% to end at 5,782.76, while the tech-focused Nasdaq Composite closed 1.43% higher at 18,439.17.
Stock futures also ascended in anticipation, with those linked to the Dow popping more than 300 points overnight.
See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>
Analyst Notes: Widely followed cryptocurrency analyst Michaël van de Poppe noted Bitcoin's move above $71,000 amid Trump's lead in the battleground states of Virginia and Florida.
"This might not be as tight as it was expected. This might also be the kickstart of the bull market + a weak labor market," the analyst predicted.
<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/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> breaking $70K and makes a new high, as Trump takes a significant lead in Georgia, Florida, Virginia and South Carolina. This might not be as tight as it was expected. This might also be the kickstart of the bull market + a weak labor market.
&mdash; Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1853958629365289455?ref_src=twsrc%5Etfw">November 6, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
However, indications of profit-taking by whales also surfaced after influential analyst Ali Martinez drew attention to the sharp drop in addresses holding more than 1,000 BTCs leading up to the election.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> whales are dialing back exposure ahead of the U.S. elections, with a 2% drop in addresses holding over 1,000 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a>. <a href="https://t.co/rlq6Y5YJ93">pic.twitter.com/rlq6Y5YJ93</a>
&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1853777283061850450?ref_src=twsrc%5Etfw">November 5, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Read Next:&nbsp;&nbsp;&nbsp;&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41754690/worlds-largest-political-bettor-gives-donald-trump-a-90-chance-of-winning-election-citing-">World&#8217;s Largest Political Bettor Gives Donald Trump A 90% Chance Of Winning Election, Citing &#8216;Real&#8217; Numbers</a></li>
</ul>

Bitcoin Hits $71K, Ethereum, Dogecoin Surge As Results Trickle In For Trump-Harris Presidential Battle: Analyst Predicts 'Kickstart Of The Bull Market'

Florida voters rejected an initiative to legalize marijuana for adult use. Known as Amendment 3, the initiative did not garner the 60% votes necessary Tuesday to pass a constitutional amendment though it did get a clear majority.
The initiative enjoyed star-studded endorsements, including from <a href="https://www.benzinga.com/markets/cannabis/24/08/40666944/donald-trump-supports-cannabis-legalization-in-florida-game-changer-and-huge-blow-to-ron-desanti">former President Donald Trump</a>, who is a Florida resident. But it faced tough and sustained GOP opposition from Gov. <a href="https://www.benzinga.com/topic/ron-desantis" target="_blank" rel="noreferrer noopener">Ron DeSantis</a> and the Florida Republican Party.
With 93% of votes counted, the amendment failed with 55.8% yes votes and 44.2% no votes, according to the Associated Press.
Smart &amp; Safe Florida, the campaign that got the initiative onto the ballot, put out a notice shortly after receiving the news.
<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://t.co/O7X6zHZEY0">pic.twitter.com/O7X6zHZEY0</a>
&mdash; Smart &amp; Safe Florida (@SmartandSafeFl) <a href="https://twitter.com/SmartandSafeFl/status/1853974758641049896?ref_src=twsrc%5Etfw">November 6, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
In the weeks before Election Day, DeSantis held a string of conferences denouncing the amendment. Campaign groups opposing legalization were essentially staffed by DeSantis allies. In what many called misusing public money, the Florida <a href="https://www.benzinga.com/markets/cannabis/24/09/41036799/desantis-provokes-outrage-over-taxpayer-funded-ads-linking-marijuana-legalization-to-car-crashes">transportation department ran ads</a> saying that DUI crashes increased in states with legal marijuana, which caused the Amendment 3 campaign to send out cease-and-desist notices.
<h2 class="wp-block-heading">Cannabis Industry Responds</h2>
"While it's disappointing to see Florida's Amendment 3 fall short of the 60% threshold necessary, it's important to recognize the bipartisan voter support that the measure received," said Anthony Coniglio, CEO of <a href="https://newlake.com/" target="_blank" rel="noreferrer noopener">NewLake Capital Partners, Inc</a>. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/NLCP#OTC">NLCP</a>). 
"Constitutional amendments requiring 60% approval are always difficult but Americans&#8217; support for the cannabis industry is undeniable. These results don't erase the progress the sector has made or the growing public support for cannabis nationwide."
Tyler Beuerlein, business development officer at Safe Harbor Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SHFS#NASDAQ">SHFS</a>), acknowledged that state-level changes do not automatically resolve broader industry challenges.
"Despite both major political parties now voicing support for cannabis reform, federal legalization remains complex, with numerous unresolved issues around banking, interstate commerce, and comprehensive regulatory frameworks."
<ul>
<li>Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/11/41755971/desantis-on-wrong-side-of-history-curaleaf-chair-says-as-governor-calls-trulieve-big-pharma-on-s">DeSantis &#8216;On Wrong Side Of History,&#8217; Curaleaf Chair Says: Governor Calls Trulieve &#8216;Big Pharma On Steroids&#8217;</a></li>
</ul>
Illustration created using artificial intelligence.

NLCP

SHF Holdings, Inc. - Class A Common Stock

SHFS

Florida Rejects Cannabis Legalization Amendment Supported By Trump, Detested By DeSantis

On Election Day 2024, major U.S. indices ended on a positive note. As the election results began rolling in, Dow Futures jumped nearly 400 points. 
For the day, the Dow Jones Industrial Average rose 1.02% to close at 42,221.88, the S&amp;P 500 increased 1.23% to 5,782.76, and the Nasdaq climbed 1.4% to 18,439.17.
These are the top stocks that gained the attention of retail traders and investors throughout the day:
Trump Media &amp; Technology Group Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJT#NASDAQ">DJT</a>)
Trump Media&#8217;s stock saw a significant surge, closing the day with a decrease of 1.16% at $33.94. The stock&#8217;s intraday high and low were $40.74 and $31.45 respectively, with a 52-week range of $79.38 to $22.55. The <a href="https://www.benzinga.com/news/24/11/41763035/trump-media-stock-shoots-up-over-10-in-after-market-trading-as-ex-president-scores-victories-in-kent">substantial increase</a> in Trump Media's stock in the after-hours is driven by the ongoing U.S. elections and the third-quarter financial results.
Reddit Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RDDT#NYSE">RDDT</a>)
Reddit&#8217;s stock closed the day with an increase of 12.58% at $122.57. The stock&#8217;s intraday high and low were $122.68 and $110.27 respectively, with a 52-week range of $123.6 to $37.35. Election day saw voters visiting polling locations and social media mavens <a href="https://www.benzinga.com/news/24/11/41761596/redditors-track-election-night-must-watch-threads-for-trump-vs-harris-showdown-other-races">sharing opinions</a> and local reports in megathreads, polls and comments on Reddit.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41704760/bitcoin-ethereum-dogecoin-reverse-as-trumps-odds-fall-on-betting-markets-trader-says-bull-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin, Ethereum, Dogecoin Reverse As Trump&#8217;s Odds Fall On Betting Markets: Trader Says &#8216;Bull Run Will Begin&#8217; For This Crypto After The Election</a>
Devon Energy Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DVN#NYSE">DVN</a>)
Devon Energy&#8217;s stock closed the day with an increase of 0.51% at $39.34. The stock&#8217;s intraday high and low were $39.59 and $38.79 respectively, with a 52-week range of $55.09 to $37.77. The company reported <a href="https://www.benzinga.com/news/earnings/24/11/41762517/devon-energy-q3-earnings-eps-beat-production-forecast-raise-and-more">third-quarter earnings</a> of $1.30 per share, beating analyst estimates of $1.14 per share.
Super Micro Computer Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>)
Super Micro Computer&#8217;s stock closed the day with an increase of 6.42% at $27.70. The stock&#8217;s intraday high and low were $28 and $25.1 respectively, with a 52-week range of $122.9 to $23.9. The company&#8217;s stock <a href="https://www.benzinga.com/news/earnings/24/11/41750022/super-micro-computer-stock-is-in-the-spotlight-ahead-of-q1-earnings-whats-going-on">bounced back</a> after falling nearly 50% last week after the firm's independent auditor raised governance and transparency concerns. Super Micro Computer faced intense scrutiny ahead of its first-quarter earnings, with shares down amid governance issues, a key auditor's exit, and risks to its <a href="https://www.benzinga.com/trading-ideas/technicals/24/11/41745935/super-micro-computer-posts-q1-earnings-are-delisting-fears-here-to-stay-or-can-the-stock">partnership with Nvidia</a>. Analysts remain cautious, citing transparency concerns and potential Nasdaq delisting.
Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)
Tesla&#8217;s stock closed the day with an increase of 3.54% at $251.44. The stock&#8217;s intraday high and low were $255.28 and $246.21 respectively, with a 52-week range of $273.54 to $138.8. CEO Elon Musk <a href="https://www.benzinga.com/news/24/11/41738613/elon-musk-rejects-rumors-of-a-tesla-phone-but-says-the-ev-giant-will-have-to-make-one-if-this-happen">refuted rumors</a> that the company is considering building a phone.
Prepare for the day&#8217;s trading <a href="Premarket Movers &amp; News">with top premarket movers and news</a> by Benzinga.
Image via Shutterstock
Read Next: 
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41734072/bitcoin-ethereum-slip-while-dogecoin-surges-ahead-of-presidential-election-analyst-predict?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin, Ethereum Slip While Dogecoin Surges Ahead Of Presidential Election; Analyst Predicts BTC Will Hit $100K+ Regardless Of Trump Or Harris Win</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>

RDDT

TSLA

Trump Media, Reddit, Devon Energy, Super Micro Computer, And Tesla Buzzing Among Investors On Election Day

Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) executive chair Jeff Bezos has sold off a significant chunk of his Amazon shares, according to a filing with the U.S. Securities and Exchange Commission.
What Happened: Bezos recently divested 1.07 million shares of Amazon stock at $200.07 per share, raking in approximately $213.8 million. As per the SEC filing on Tuesday, this transaction leaves Bezos with 926.41 million shares of the e-commerce giant.
Bezos isn&#8217;t the only Amazon insider to have sold shares recently. Director Jonathan Rubinstein also offloaded $1 million worth of shares, while Douglas Herrington, CEO of Worldwide Amazon Stores, sold $696,360 worth of Amazon shares.
See Also: <a href="https://www.benzinga.com/markets/equities/24/11/41734887/cathie-woods-latest-shake-up-dumps-palantir-and-jack-dorseys-block-along-with-tesla-buys-amazon-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">DJT Stock Volatile On Election Day: Donald Trump&#8217;s Media Company Reports Q3 Earnings, Growth Initiatives</a>
Why It Matters: Amazon&#8217;s stock remains a compelling investment opportunity, according to Bernstein analyst Mark Shmulik. Shmulik maintained an &#8220;Outperform&#8221; rating on the stock with a $235 price target, citing Amazon&#8217;s promising future despite <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41737293/amazon-stock-buy-now-pay-off-later-says-analyst">planned infrastructure spending</a>.
Amazon&#8217;s strong performance has also attracted the attention of prominent investor Cathie Wood, who recently <a href="https://www.benzinga.com/markets/equities/24/11/41734887/cathie-woods-latest-shake-up-dumps-palantir-and-jack-dorseys-block-along-with-tesla-buys-amazon-">made significant trades</a> in the company&#8217;s stock. 
The company recently reported third-quarter net sales of $158.9 billion, surpassing expectations and marking an 11% increase from the previous year. This positive performance has contributed to a rise in Amazon&#8217;s stock price, which saw a significant uptick <a href="https://www.benzinga.com/news/24/11/41688665/amazon-posts-upbeat-results-joins-cardinal-health-waters-atlassian-charter-communications-mastec-and">following the earnings announcement</a>.
Price Action: Amazon stock closed at $199.50 on Tuesday, rising by 1.90% during the day. In after-hours trading, the stock dipped 0.20%. Year-to-date, Amazon&#8217;s stock has seen substantial growth, up by 33.06%, according to <a href="https://pro.benzinga.com/dashboard">data from Benzinga Pro</a>.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/equities/24/11/41734592/palantir-trump-media-hims-hers-health-nxp-semiconductors-and-tesla-why-these-5-stocks-are-on-inv?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">PLTR, DJT, HIMS, NXPI, TSLA: Top 5 Trending Stocks Today</a></li>
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Image via Flickr/ Daniel Oberhaus
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

AMZN

Jeff Bezos Sells $214M Worth Of Amazon Shares In Latest Stock Move, Here's How Much He Still Owns

As polls begin to close for <a href="https://www.benzinga.com/news/24/11/41762845/trump-wins-kentucky-indiana-harris-scores-vermont-as-polls-begin-to-close-across-us">the high-voltage 2024 presidential race</a>, Tesla and SpaceX CEO Elon Musk has revealed his intentions to extend his pro-Trump super PAC beyond the 2024 election.
What Happened: On Tuesday night, during a live session on his social media platform, X, formerly Twitter, Musk announced his plans to now focus on the 2026 midterms and local races.
He suggested that a Trump victory would indicate a public desire for change. &#8220;I think there's a sea change in the country,&#8221; Musk said. &#8220;I hope I'm not wrong about that.&#8221;
<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">Drag everyone you know to vote!!! <a href="https://t.co/TDwrH01EkA">https://t.co/TDwrH01EkA</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1853949501364383957?ref_src=twsrc%5Etfw">November 5, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
This information was first <a href="https://apnews.com/live/trump-harris-election-updates-11-5-2024">reported</a> by the Associated Press.
See Also: <a href="https://www.benzinga.com/general/politics/24/11/41732623/bakery-that-often-predicts-election-outcomes-has-this-candidate-winning-in-trump-harris-battle-d?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bakery That Often Predicts Election Outcomes Has This Candidate Winning In Trump, Harris Battle: &#8216;Doughmacracy For All!&#8217;</a>
Why It Matters: Last month, it was reported that Musk's publicly disclosed political contributions have <a href="https://www.benzinga.com/news/24/10/41561298/elon-musk-pumps-more-than-130m-into-trump-and-gop-campaigns">surpassed $130 million</a>, though the real amount may be greater.
Allegations also surfaced that the tech mogul was financially backing a "dark money" nonprofit, which contributed $3 million to a super PAC airing ads that depict Vice President Kamala Harris in a conflicting light on her stance toward Israel.
However, his political activities have not been without controversy. Musk was <a href="https://www.benzinga.com/news/24/10/41651620/elon-musk-ordered-to-attend-court-hearing-over-1m-election-giveaway">summoned to court over a $1 million lottery</a> organized by his political action committee.
The lawsuit questioned the legality of the lottery, which targeted registered voters in pivotal states.
Meanwhile, Musk has been vocal about his vision for <a href="https://www.benzinga.com/personal-finance/24/11/41701075/elon-musk-warns-of-hardship-for-americans-if-trump-puts-him-in-charge-of-cutting-33-trillion-deb">government efficiency, warning</a> of potential hardship for Americans if Republican candidate Donald Trump appoints him to lead efforts to cut the $33 trillion debt.
Analysts believe a Trump victory could be a potential <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41709990/trump-and-tesla-what-the-future-holds-for-elon-musks-ev-giant-in-case-of-a-gop-win">positive for Musk&#8217;s company Tesla</a>, despite the overall impact on the electric vehicle industry.
Read Next:
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<li><a href="https://www.benzinga.com/news/24/11/41710411/market-analyst-who-predicted-trumps-2016-win-and-bidens-2020-victory-now-sees-former-president-retak?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Market Analyst Who Predicted Trump&#8217;s 2016 Win And Biden&#8217;s 2020 Victory, Now Sees Former President Retaking The White House With &#8216;Large Majority Of Swing States&#8217;</a></li>
</ul>
Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.

Elon Musk Is Already Eyeing 2026 Midterms, Plans To Expand Pro-Trump PAC Beyond Current Election: 'There's A Sea Change In The Country'

ZTO Express (ZTO) has released an update. ZTO Express (Cayman) Inc. has confirmed in its latest report that there have been no changes in their aut...

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<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
ZTO Express (Cayman) (NYSE:<a href="https://investorplace.com/stock-quotes/zto-stock-quote/">ZTO</a>) just reported results for the second quarter of 2024.<ul><li>ZTO Express (Cayman) reported earnings per share of 47 cents. This was above the analyst estimate for EPS of 45 cents.</li><li>The company reported revenue of $1.48 billion.</li><li>This was 0.27% worse than the analyst estimate for revenue of $1.48 billion.</li></ul><div>InvestorPlace Earnings is a project that leverages data from <a href="https://www.tradesmith.com">TradeSmith</a> to automate coverage of quarterly earnings reports. InvestorPlace Earnings distills key takeaways including earnings per share and revenue, as well as how a company stacks up to analyst estimates. These articles are published without human intervention, allowing us to inform our readers of the latest figures as quickly as possible. To report any concerns or inaccuracies, please contact us at <a href="mailto:editor@investorplace.com">editor@investorplace.com</a>.</div>	The post <a href="https://investorplace.com/earning-results/2024/08/zto-stock-earnings-zto-express-cayman-for-q2-of-2024/">ZTO Stock Earnings: ZTO Express (Cayman) Beats EPS, Misses Revenue for Q2 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

ZTO Stock Earnings: ZTO Express (Cayman) Beats EPS, Misses Revenue for Q2 2024

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JPMorgan initiated coverage of ZTO Express (ZTO) with an Overweight rating and HK$234 price target Published first on TheFly – the ultimate source ...

ZTO Express initiated with an Overweight at JPMorgan

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ZTO Reports Fourth Quarter 2023 and Full Year 2023 Unaudited Financial Results

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