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Zoo Digital Group PLC through its subsidiaries provides cloud technology services. Its services are used for digital content authoring, video post-production, and localisation for entertainment, publishing, and packaging markets. The company's operating segment includes Media Production and Software solutions. Media Production includes localisation and media services. It generates maximum revenue from the Media Production segment. Geographically, it operates in the United Kingdom and the United States, out of which it derives the majority of its revenue from the United States.

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The Federal Reserve implemented its first <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40929003/powells-hawkish-tone-tempers-market-excitement-after-historic-50-basis-point-intere">rate cut since March 2020</a>. The move aimed to combat inflation and economic concerns.
What Happened: The rate cut was widely anticipated, with an 85% likelihood leading up to the announcement. This anticipation led to a bullish reaction in both cryptocurrency and traditional equity markets. However, prices quickly reversed as traders executed buy orders.
Santiment <a href="https://insights.santiment.net/read/rate-cut-celebrations-are-likely-but-watch-for-retail-traders-ruining-the-party-8119?utm_source=twitter&amp;utm_medium=post&amp;utm_campaign=twitter_rate_cut_celebrations_insight_b_091824/&amp;fpr=twitter">noted</a> that this pattern is familiar, having been observed after events like the Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) merge and Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) halving. Traders often become euphoric, expecting prices to soar, only to be surprised by a retracement.
Despite the initial bullish reaction, the market&#8217;s response may not be as straightforward. Traders are advised to monitor sentiment and funding rates closely. Positive sentiment could indicate greed, while negative sentiment might signal a buying opportunity.
Two more rate cuts are expected by the end of 2024, potentially lowering interest rates by 100 basis points heading into 2025, according to the report.
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40883274/senator-warren-urges-fed-to-slash-rates-by-0-75-veteran-investor-warns-even-0-5-cut?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elizabeth Warren Urges Fed To Slash Rates By 0.75%; Veteran Investor Warns Even 0.5% Cut Could &#8216;Reduce Trump&#8217;s Chances Of Winning&#8217;</a>
Why It Matters: The Federal Reserve&#8217;s decision to <a href="https://www.benzinga.com/economics/macro-economic-events/24/09/40927293/powell-defends-0-5-interest-rate-drop-as-right-thing-for-the-economy-doubles-down">cut interest rates by 50 basis points</a> to a range of 4.75% to 5% marks a significant shift in monetary policy. 
Jerome Powell, the Fed Chair, defended the move, stating it was necessary to support the labor market and prevent economic harm. Powell emphasized the importance of acting preemptively to safeguard the economy, highlighting the Fed&#8217;s cautious, <a href="https://www.benzinga.com/economics/macro-economic-events/24/09/40927293/powell-defends-0-5-interest-rate-drop-as-right-thing-for-the-economy-doubles-down">data-driven approach</a>.
The rate cut has <a href="https://www.benzinga.com/etfs/broad-u-s-equity-etfs/24/09/40928301/interest-rates-in-free-fall-what-it-means-for-mortgages-credit-cards-and-your-wallet-a">broader implications for consumers</a>, potentially affecting mortgage rates, credit card interest rates, and auto loan rates. This trickle-down effect could influence consumer spending and borrowing behavior. 
Despite the initial market euphoria, Powell&#8217;s cautious remarks on the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40929003/powells-hawkish-tone-tempers-market-excitement-after-historic-50-basis-point-intere">future rate path have injected uncertainty</a> into the markets. The Fed&#8217;s dot plot indicates further easing ahead, with additional rate cuts expected in the coming years.
Price Action: Bitcoin is trading at $61,950.10, up 0.32% in the last 24 hours. Year to date, it has gained 40.14%. Meanwhile, Ether is currently priced at $2,357.76, rising 0.92% in the last 24 hours. Year to date, it has increased 0.19%, according to <a href="https://www.benzinga.com/pro/login">data from Benzinga Pro</a>.
Read Next: 
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<li><a href="https://www.benzinga.com/news/24/09/40890194/both-trump-and-harris-hold-undergraduate-degrees-in-economics-says-obama-era-economist-but-there-is?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Both Trump And Harris Hold Undergraduate Degrees In Economics, Says Obama-Era Economist But There Is One Candidate He Favors Over The Other</a></li>
</ul>
Image Via Shutterstock 
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

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

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Bitcoin And Ethereum Euphoria Built Around Rate Cuts Could Be Ruined By Retail Traders, Says Crypto Data Intelligence Platform

Sen. Bernie Sanders (I-Vt.), expressed his dissatisfaction with Donald Trump&#8217;s approach to the ongoing healthcare crisis in America.
What Happened: On Wednesday, Sanders took to X to voice his concerns about Trump&#8217;s handling of the healthcare crisis. He highlighted the fact that despite Trump&#8217;s four-year term as president, his current plan for addressing the healthcare crisis is inadequate. 
Sanders said, &#8220;We are in the midst of a serious health care crisis — 85 million Americans are uninsured or underinsured. Now he&#8217;s working on &#8216;a concept of a plan&#8217; ?? That&#8217;s not going to cut it.&#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">.<a href="https://twitter.com/realDonaldTrump?ref_src=twsrc%5Etfw">@realDonaldTrump</a> has been in three political campaigns. He was president for four years. We are in the midst of a serious health care crisis — 85 million Americans are uninsured or underinsured. Now he&#39;s working on &quot;a concept of a plan&quot; ?? That&#39;s not going to cut it. <a href="https://t.co/2aK8C9NSS7">pic.twitter.com/2aK8C9NSS7</a>
&mdash; Bernie Sanders (@BernieSanders) <a href="https://twitter.com/BernieSanders/status/1836549690071912865?ref_src=twsrc%5Etfw">September 18, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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This post comes in the wake of the <a href="https://www.benzinga.com/news/24/09/40868605/trump-vs-harris-presidential-debate-sanders-on-healthcare-disparity-and-more-this-week-in-politics">presidential debate</a> between Trump and Vice President Kamala Harris.
Sanders shared a video in his post where an NBC anchor asked him about comments Trump made at the debate with Harris in regards to Obamacare. The former president had claimed that he saved The Affordable Care Act.The Vermont senator&#8217;s post was in response to this question.
See Also: <a href="https://www.benzinga.com/news/24/09/40899012/elon-musk-reacts-after-trump-campaign-releases-over-50-examples-of-democrats-rhetoric-that-inspired?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Reacts After Trump Campaign Releases Over 50 Examples of Democrats&#8217; Rhetoric That &#8216;Inspired Assassination Attempt&#8217;</a>
Why It Matters: Sanders has been a <a href="https://www.benzinga.com/news/24/07/39784920/bernie-sanders-getting-sick-in-america-should-not-mean-going-bankrupt-losing-your-home-car-or-life-s">vocal critic</a> of the existing U.S. healthcare system, highlighting the financial burden it places on patients. He has previously stated that &#8220;Getting sick in America should not mean going bankrupt, losing your home, car, or life savings.&#8221;
Moreover, Sanders has pointed out the <a href="https://www.benzinga.com/news/24/09/40784837/bernie-sanders-says-if-youre-poor-in-america-youll-live-10-15-years-less-anybody-else-see-a-problem">disparity in health outcomes</a> between the rich and the poor in America, stating that the poor live significantly shorter lives.
Image via Shutterstock
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<li>Congress Is Making Huge Investments. <a href="https://www.benzinga.com/gov-trades">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

Politics

General

Bernie Sanders Is Not Having It When Trump Says He Saved Obamacare: 'That's Not Going To Cut It'

Microsoft Corporation&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) vice chair and president, Brad Smith, has raised concerns about potential foreign interference in the upcoming <a href="https://www.benzinga.com/topic/2024-presidential-election">2024 U.S. presidential election</a>.
What Happened: On Wednesday, during his opening testimony at a Senate Intelligence Committee hearing on <a href="https://www.benzinga.com/general/politics/24/09/40743037/putin-says-russia-backs-harris-and-her-infectious-laugh-for-2024-election-we-will-root-for-her">foreign election interference</a>, Smith warned of &#8220;real and serious&#8221; threats, <a href="https://thehill.com/policy/technology/4887227-microsoft-election-iran-trump-russia-harris/">reported</a> The Hill.
He pointed out that the election has become a battleground for foreign actors, specifically Iran and Russia, against presidential candidates Donald Trump and Kamala Harris respectively.
&#8220;We know that there is a presidential race between Donald Trump and Kamala Harris, but this has also become an election of Iran vs Trump and Russia vs Harris,&#8221; he stated.
See Also: <a href="https://www.benzinga.com/news/24/09/40893054/mark-cuban-says-he-would-buy-rupert-murdochs-fox-news-and-elon-musks-x-but-there-are-some-obstacles?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mark Cuban Says He Would Buy Rupert Murdoch&#8217;s Fox News And Elon Musk&#8217;s X But There Are Some Obstacles: &#8216;If I Had Enough… I&#8217;d Buy It In A Heartbeat&#8217;</a>
Smith also shed light on the <a href="https://www.benzinga.com/news/24/09/40760931/trump-vs-harris-who-do-russia-iran-and-china-favor-in-2024-election-intelligence-officials-weigh-in">combined efforts of Russia, Iran, and China</a> in undermining democracy. He cited a recent Microsoft report that revealed Russian influence operations behind a false <a href="https://www.benzinga.com/news/24/09/40915084/kremlin-aligned-group-behind-false-hit-and-run-allegations-against-kamala-harris-microsoft-says">viral video accusing Harris of a hit-and-run</a>.
He stressed the importance of tech companies upholding two principles: preserving the right to free expression and protecting the American electorate from foreign deception.
Smith called on tech companies to put in place safeguards, especially around AI-generated content, and to educate candidates about AI risks.
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Why It Matters: Smith&#8217;s testimony comes at a time when concerns over foreign interference in the election through online disinformation and misinformation campaigns are escalating.
He testified alongside Nick Clegg, the president of global affairs at Meta Platforms, and Kent Walker, the president and chief legal officer for Google's Alphabet, the report noted.
On Tuesday, in a blog post, Microsoft revealed that its Threat Analysis Center noticed a <a href="https://www.benzinga.com/news/24/09/40912191/harris-walz-campaign-targeted-by-russian-hackers-microsoft-threat-analysis-center-notices-shift-in-t">shift in tactics by Russian hackers</a> who targeted the campaign of Democratic nominee Harris.
Earlier this month, the Justice Department seized over 30 web domains used by Russia for covert campaigns. The FBI also revealed that Iran was behind a hacking of the Trump campaign.
On Wednesday, the FBI said, &#8220;Iranian malicious cyber actors in late June and early July sent unsolicited emails to individuals then associated with President Biden's campaign that contained an excerpt taken from stolen, non-public material from former President Trump's campaign as text in the emails.&#8221;
Check out more of Benzinga&#8217;s Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:
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<li><a href="https://www.benzinga.com/news/24/09/40914747/jpmorgan-ceo-jamie-dimon-thinks-social-media-platforms-like-tiktok-and-facebook-are-a-total-stupid-w?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">JPMorgan CEO Jamie Dimon Thinks Social Media Platforms Like TikTok And Facebook Are &#8216;A Total Stupid Waste Of Time&#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.

MSFT

'This Has Also Become An Election Of Iran Vs Trump And Russia Vs Harris' — Microsoft President Brad Smith Warns About Foreign Interference In 2024 Election

In the run-up to the presidential election, Donald Trump, the Republican nominee, has voiced his disapproval of the Federal Reserve&#8217;s recent decision to <a href="https://www.benzinga.com/economics/macro-economic-events/24/09/40926026/federal-reserve-delivers-bold-0-5-rate-cut-signals-further-easing-ahead">slash its benchmark interest rate by half a percentage point</a>. Trump suggests this move could be indicative of a faltering U.S. economy or a politically motivated action.
What Happened: Trump expressed skepticism over the Federal Reserve&#8217;s decision. This critique comes as the November presidential election is just around the corner, <a href="https://www.ft.com/content/da9347a5-b4db-4987-94c9-2aeb20624726">reported</a> The Financial Times.
&#8220;I guess it shows the economy is very bad to cut it by that much, assuming that they are not just playing politics,&#8221; said Trump.
Trump has previously voiced his displeasure with Federal chair Jerome Powell, accusing the independent central bank of political bias. In a conversation with Bloomberg News, Trump cautioned Powell against reducing interest rates before the election. However, he also mentioned that he would allow Powell to complete his term as chair if he was &#8220;doing the right thing.&#8221;
In a separate discussion with Fox Business Network, Trump hinted at his intention to replace Powell, blaming him for being &#8220;political&#8221; and predicting he would lower interest rates to &#8220;help the Democrats,&#8221; according to the report.
Trump&#8217;s remarks were made just hours before a campaign rally in the suburbs of New York City on Long Island. His Democratic rival, vice-president Kamala Harris, also reportedly shared her thoughts on the Fed&#8217;s decision, stating the cut would be &#8220;welcome news for Americans who have borne the brunt of high prices&#8221;.
See Also: <a href="https://www.benzinga.com/news/24/09/40890590/chuck-schumer-says-if-government-shutdown-happens-it-will-because-of-republican-poison-pills-the-ame?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Chuck Schumer Says If Government Shutdown Happens It Will Be Because Of &#8216;Republican Poison Pills&#8217; — &#8216;The American People Are Going To Hold Them Responsible&#8217;</a>
Why It Matters: The Federal Reserve&#8217;s decision to cut interest rates by 50 basis points marks the first rate cut in over four years, breaking a streak of 12 consecutive months with rates held steady. This decision came as a surprise to Wall Street analysts who had largely anticipated a more modest 25-basis-point cut.
Earlier this month, Trump had <a href="https://www.benzinga.com/general/politics/24/09/40861372/trump-says-no-federal-rates-cuts-before-2024-election-republican-congress-members-say-the-time-i">expressed his desire</a> for the Federal Reserve to leave rates unchanged ahead of the 2024 presidential election. However, investors and members of Congress were expecting a rate cut.
The anticipation among investors for a 50 basis point interest rate cut was growing, and this expectation could have <a href="https://www.benzinga.com/economics/macro-economic-events/24/09/40919701/investors-betting-on-50-basis-point-rate-cut-expert-says-market-pressure-could-sw">influenced the Federal Reserve&#8217;s decision</a>. The market was pricing in a 63% likelihood of a 50 basis point cut, a significant increase from 34% the previous week.
Image via Shutterstock
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<li>Lawmakers Made Huge Investments This Year. <a href="https://www.benzinga.com/gov-trades">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

Trump Isn't Happy With Jerome Powell's 50 Bps Rate Cut Maneuver: 'I Guess It Shows The Economy Is Very Bad'

Antivaccine advocate and former independent presidential candidate, Robert F. Kennedy Jr., stated that he might be appointed by former President Donald Trump to select leaders for key public health agencies, should the former president win a second term.
What Happened: Kennedy Jr. disclosed this information during a discussion with conservative commentator Tucker Carlson, as reported by <a href="https://thehill.com/homenews/campaign/4887585-rfk-jr-trump-fda-nih-cdc/">The Hill</a> on Wednesday.
He named the Centers for Disease Control and Prevention, the Food and Drug Administration, and the National Institutes of Health as agencies he might be involved with. Kennedy made this announcement during a Tuesday stop in Wisconsin on Carlson's live tour.
&#8220;President Trump has asked me specifically to do two things. One, to help unravel the capture of the agencies by corrupt influence. In other words, to drain the swamp. And, you know, I had to say something about President Trump,&#8221; said Kennedy Jr.
In a previous conversation with Carlson, Kennedy mentioned that Trump asked him to be part of his transition team if he secures a second term. However, Trump campaign spokesperson Karoline Leavitt labeled discussions about who will serve in a second Trump administration as &#8220;premature&#8221;.
Earlier this month, Democrats and the public health community voiced their concerns over the potential of Kennedy becoming the Health and Human Services secretary in a second Trump term.
See Also: <a href="https://www.benzinga.com/news/24/09/40890069/donald-trump-jr-doesnt-mince-words-democrat-donor-with-a-kamala-harris-bumper-sticker-on-his-car-tri?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Donald Trump Jr. Doesn&#8217;t Mince Words: &#8216;Democrat Donor With A Kamala Harris Bumper Sticker On His Car Tried To Assassinate My Dad&#8217;</a>
Why It Matters: Kennedy&#8217;s potential role in a second Trump administration has been a <a href="https://www.benzinga.com/news/24/07/39898056/robert-kennedy-jr-eyes-role-in-trumps-administration-amid-endorsement-chatter-report">topic of discussion</a> for some time. According to a Benzinga report from July, Kennedy, then an independent presidential candidate, had talks with Trump about endorsing his campaign and possibly taking up a senior role in his administration.
In August, Kennedy <a href="https://www.benzinga.com/general/politics/24/08/40535286/rfk-jr-suspends-2024-presidential-campaign-endorses-trump-to-block-democrats-from-white-house">suspended his presidential campaign</a> and endorsed Trump. He stated that he didn&#8217;t believe he had a real chance of winning the 2024 election and that his continued presence in the race would result in a Democratic Party victory.
Image via Shutterstock
Did You Know? 
<ul>
<li>Congress Is Making Huge Investments. <a href="https://www.benzinga.com/gov-trades">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

Robert Kennedy Jr: Trump Wants Him To Help Pick CDC, FDA, and NIH Leaders — 'Unravel The Capture Of Agencies By Corrupt Influence'

Shaquille O'Neal is widely recognized as one of the greatest basketball players, but since retiring from the NBA, he&#8217;s gained significant <a href="https://www.benzinga.com/markets/24/07/39915962/shaquille-oneal-began-building-his-estimated-500-million-portfolio-by-investing-in-this-tech-titan-w?utm_campaign=partner_feed&amp;utm_source=yahooFinance&amp;utm_medium=partner_feed&amp;utm_content=real_estate">respect for his business expertise</a> and chance encounters.
What Happened: During a 2018 appearance on "The Ellen Show," Shaq shared two pivotal investment stories.
First, he recounted his &#8220;worst investment ever&#8221; — turning down Starbucks.&nbsp;
When Starbucks&#8217; then-CEO Howard Schultz proposed opening locations in African-American communities, Shaq&#8217;s response was skeptical. 
&#8220;Black people don&#8217;t drink coffee,&#8221; he said referring to his earlier thought. This misconception led him to pass on what could have been a lucrative opportunity.
"So now, every time I go to Starbucks, I see black people drinking coffee, I&#8217;m like… [he does a facepalm]."
See Also: <a href="https://www.benzinga.com/general/entertainment/24/09/40824404/shaq-once-said-the-earth-was-flat-and-then-it-cost-him-20m-it-was-like-500k-hate-mail">Shaq Once Said The &#8216;Earth Was Flat&#8217; And Then It Cost Him $20M: &#8216;It Was Like 500K Hate Mail&#8217;</a>
In contrast, Shaq then shared his successful Google investment story.
He recalled a chance encounter at the Four Seasons Hotel in LA around &#8217;93 or &#8217;94, where he was essentially babysitting someone&#8217;s kids during a meeting.
After the meeting, the impressed parent offered him an investment opportunity, saying, &#8220;In the future, you&#8217;re going to be able to type on your phone, search engine, this, do this, boom, boom, boom. You should invest.&#8221;
This turned out to be Google, and Shaq's decision to invest paid off handsomely. Google, now rebranded as Alphabet Inc. has a current market cap of $1.973 trillion, making it the fourth most valuable company in the world.
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<iframe loading="lazy" title="Shaq&#039;s Babysitting Gig Led to His Google Riches" width="500" height="281" src="https://www.youtube.com/embed/hKNRieaN0ZI?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div>
</figure>
Why It&#8217;s Important: This anecdote highlights how unconventional networking can lead to significant investment opportunities in the tech world.
Shaq's Google investment marked the beginning of his successful post-NBA business career, setting him apart from the <a href="https://www.benzinga.com/general/entertainment/23/02/30945804/google-apple-lyft-and-ring-shaquille-oneals-track-record-of-phenomenal-startup-investments">65% of NBA players</a> who reportedly go broke within five years of leaving the game.
Earlier this month, the website CelebrityNetWorth estimated Shaq&#8217;s net wealth to be around $500 million. His investment portfolio includes stakes in various franchises such as Five Guys, Papa John&#8217;s, Krispy Kreme, and his own fast-food chain, Big Chicken.
Apart from Google, other <a href="https://www.benzinga.com/general/sports/24/04/38090549/7-basketball-legends-turn-investment-titans-shaq-lebron-and-more">notable company investments</a> include Ring video doorbell, which was later acquired by Amazon, and Apple.
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<li><a href="https://www.benzinga.com/news/24/09/40911877/jeff-bezos-had-a-habit-of-keeping-an-empty-chair-for-the-most-important-person-in-the-room-at-compan">Jeff Bezos Had A Habit Of Keeping An Empty Chair For The Most Important Person In The Room At Company Meetings: This Strategy Helped The Amazon Founder Build The E-commerce Giant We Know Today</a></li>
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Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Tech

Shaquille O'Neal's Estimated $500M Portfolio Includes A Big Bet On Google, But Big Shamrock Made A Critical Error That Makes Him Facepalm Each Time He Steps Into A Starbucks — 'Worst Investment Ever'

BNZIW

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

BNZI

GDHG

Investors now have more ways to invest in or against MicroStrategy Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>), a software company and Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) holder that has outperformed top stocks, asset types and index funds <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39817792/missed-out-on-nvidia-michael-saylor-says-get-on-the-bitcoin-standard-for-even-better-retur">in recent years.</a>
What Happened: REX Shares and Tuttle Capital Management launched two new ETFs Wednesday to give investors more ways to get exposure <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40878741/canaccord-lowers-microstrategy-price-target-to-173-cites-ongoing-bitcoin-accumulation">to MicroStrategy stock </a>with leveraged and inverse ETFs.
The two companies launched the T-REX 2X Long MSTR Daily Target ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/MSTU#BATS">MSTU</a>) and the T-REX 2X Inverse MSTR Daily Target ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/MSTZ#BATS">MSTZ</a>).
"These are the first ETFs to provide investors with 200% leveraged exposure and -200% inverse exposure to the daily price movement of MicroStrategy (MSTR), allowing traders to capitalize on MSTR's exposure to the Bitcoin market," the companies said.
The launch comes after <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40399008/mstx-becomes-first-single-stock-leveraged-etf-for-microstrategy-stock-offers-175-exposure">Defiance launched</a> a 1.75X long MicroStrategy ETF and 1.5X Short MicroStrategy ETF in August with the Defiance Daily Target 1.75X Long MSTR ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTX#NASDAQ">MSTX</a>) and Defiance Daily Target 1.5X Short MSTR ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMST#NASDAQ">SMST</a>) respectively.
With the new 2X ETFs, REX and Tuttle have pushed the envelope further.
"The 2X Leveraged and 2X Inverse MSTR ETFs offer traders unparalleled access to MicroStrategy's Bitcoin exposure, whether they're looking to amplify potential gains or hedge against market volatility. We're a product of our ability to redefine what's possible in the ETF industry," Tuttle Capital Management CEO Matthew Tuttle said.
REX Shares CEO Greg King said the new ETFs help provide tools to traders "to engage with a company that's pushing the boundaries in digital assets."
"MicroStrategy's forward-thinking approach presents a compelling opportunity for traders seeking additional ways to trade the stock," King added.
The launches follow several other leveraged and inverse ETFs from REX and Tuttle Capital. The two companies launched the T-REX 2X Long Bitcoin Daily Target ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/BTCL#BATS">BTCL</a>) and T-REX 2X Inverse Bitcoin Daily Target ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/BTCZ#BATS">BTCZ</a>) in July.
Read Also: <a href="https://www.benzinga.com/etfs/specialty-etfs/24/09/40802938/fund-manager-who-bet-against-jim-cramer-and-cathie-wood-has-new-anti-woke-etf-puts-profits-ah">Fund Manager Who Bet Against Jim Cramer And Cathie Wood Has New Anti-Woke ETF: &#8216;Puts Profits Ahead Of Politics, DEI &amp; ESG&#8217;</a>
Why It's Important: MicroStrategy has been a top-performing stock, gaining 94% year-to-date in 2024 and gaining 790% over the last five years.
The company has also seen shares highly volatile as related to the price of Bitcoin because the company is a large holder of the leading cryptocurrency.
MicroStrategy <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40857237/microstrategy-stock-climbs-after-bitcoin-purchase-heres-how-much-btc-michael-saylors-compa">recently announced it bought</a> $1.1 billion worth of Bitcoin bringing its total up to 244,800 Bitcoin. The company <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40919378/microstrategy-raises-875m-in-convertible-notes-plans-further-bitcoin-purchases">recently raised</a> over $800 million to redeem $500 million in senior secured notes and to buy additional Bitcoin.
MicroStrategy began buying Bitcoin in August 2020 and will continue to add more Bitcoin, as co-founder and Executive Chairman Michael Saylor <a href="https://www.benzinga.com/markets/cryptocurrency/22/06/27865236/exclusive-michael-saylors-microstrategy-is-married-to-bitcoin-everything-else-in-the-world">previously told Benzinga.</a>
"We have a simple strategy and our strategy is we just acquire Bitcoin, and we hold the Bitcoin," Saylor told Benzinga.
Saylor said he believes Bitcoin is the best asset in the world.
"Everything else in the world is inferior to Bitcoin. So, if you gave me $1 million and said what do you want to buy, I don't want to buy a sports team, I don't want to buy a building, I don't want to buy a company … all I want to buy is Bitcoin," Saylor previously told Benzinga.
Saylor also previously said that if people hate Bitcoin, they can short MicroStrategy and if they love Bitcoin they could buy the stock.
While investors have more ways to get Bitcoin exposure thanks to cryptocurrency exchanges and Bitcoin ETFs, MicroStrategy remains a popular option to get exposure.
With the new leveraged and inverse ETFs, investors have more ways to predict what will happen to MicroStrategy in terms of the stock going up or down.
Tuttle <a href="https://www.benzinga.com/markets/cryptocurrency/24/01/36500461/exclusive-the-man-who-shorts-cathie-wood-and-jim-cramer-filed-for-new-bitcoin-etfs-why-lev">previously told Benzinga</a> that leveraged and inverse ETFs aren't for all investors, but have an important place in the market.
"They are a tool, just like stocks, bonds, ETFs, mutual funds, options, etc.," Tuttle told Benzinga. "Just like any tool some people will use them correctly and others won't."
Tuttle said that leveraged ETFs can be used by investors as an &#8220;alternative to options.&#8221;
&#8220;Unlike options, they can be traded after hours. They are very conducive to short-term trading strategies.&#8221;
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/top-stories/24/09/40855829/benzingas-stock-whisper-index-5-stocks-investors-secretly-monitor-but-dont-talk-about-yet">Benzinga&#8217;s &#8216;Stock Whisper&#8217; Index: 5 Stocks Investors Secretly Monitor But Don&#8217;t Talk About Yet</a></li>
</ul>
Photo: Master Tux from Pixabay

Specialty ETFs

New ETFs

ETFs

BTCL

BTCZ

MSTR

ETF Opportunities Trust T-Rex 2X Long MSTR Daily Target ETF

MSTU

MSTX

ETF Opportunities Trust T-Rex 2X Inverse MSTR Daily Target ETF

MSTZ

SMST

MicroStrategy 2X Leveraged, Inverse ETFs Are Here, Offer 'Unparalleled Access To MicroStrategy's Bitcoin Exposure'

A well-known Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) analyst and iPhone sales forecaster is predicting weak demand of the iPhone 16 with a new hint that expectations <a href="https://www.benzinga.com/news/24/09/40882969/iphone-16-pro-demand-lags-longer-wait-times-globally-china-shows-smaller-gap-analyst">may not be met.</a>
What Happened: Apple <a href="https://www.benzinga.com/news/24/09/40780100/apple-intelligence-ready-iphone-16-with-faster-processor-dedicated-camera-button-announced-check-pri">unveiled the iPhone 16</a> last week and highlighted several new features including its Apple Intelligence generative AI that will be rolled out to consumers.
Early pre-order data shows demand for the iPhone 16 may be lower than expected due to a lack of reasons for existing iPhone owners to upgrade to the latest model.
Apple analyst Ming-Chi Kuo recently said pre-order sales for the iPhone 16 have reached 37 million units.
On Wednesday, Kuo shared another sign that demand could be low.
"Apple employees can already purchase the iPhone 16 with their employee discount. Typically, employees have had to wait several weeks after the release of new iPhone models before being able to buy. This could be another sign that the early demand for the iPhone 16 is below expectations," Kuo <a href="https://x.com/mingchikuo/status/1836445270902808958">tweeted</a>.
Kuo's recent 37 million estimate comes from pre-order data from Apple and supply chain surveys. Average delivery times and shipment volumes could indicate weaker demand for the more expensive iPhone Pro models, Kuo also said.
Did You Know?
<ul>
<li>Congress Is Making Huge Investments. <a href="https://www.benzinga.com/gov-trades/?utm_source=BZprocontent091824">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>
 Why It's Important: Smartphone competition in global markets such as China could be hurting demand for the iPhone 16 along with weak reception to the Glowtime event and the new features.
With many consumers expecting more integrated AI features, the lack of AI features and slow rollout of Apple Intelligence could be a disappointment.
While it remains to be determined what the official sales figures for the iPhone 16 in 2024 and beyond are, initial iPhone 16 leaks aren't suggesting strong results.
Analysts could lower price targets and financial expectations as more data becomes available.
Pre-orders for the iPhone 16 began on Sept. 13 with initial deliveries on Sept. 20.
 AAPL Price Action: Apple stock closed Wednesday up 1.80% at $220.69 versus a 52-week trading range of $164.08 to $237.23. Apple stock is up 18.9% year-to-date in 2024.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40799397/apple-analysts-mixed-after-glowtime-event-iphone-16-could-drive-upgrades-but-next-y">Apple Analysts Mixed After Glowtime Event: iPhone 16 Could &#8216;Drive Upgrades,&#8217; But &#8216;Next Year Will Be Better&#8217;</a></li>
</ul>
Photo: Courtesy Apple

Trading Ideas

AAPL

Apple iPhone 16 Pre-Orders Show Possible Low Demand, One Sign Could Point To Company Break With This Employee Rule

Amazon.com Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) is set to end its work-from-home regime and mandate a return to full-time office work starting in January.&nbsp; CEO Andy Jassy shared the news to employees in a Monday memo, also announcing changes to<a href="https://www.benzinga.com/top-stories/24/09/40887347/amazon-to-cut-management-layers-end-work-from-home"> the managerial structure.</a>
The end of a flexible work-from-home mandate has a more meaningful impact for the average employee. This decision has drawn considerable attention, particularly from former employees such as John McBride, a former Amazon Web Services (AWS) software engineer, who shared his opinions in an<a href="https://x.com/johncodezzz/status/1836259845118231000"> X</a> post.
McBride, who worked at AWS for a year before resigning due to Amazon&#8217;s insistence on relocating from Denver to Seattle, believes the move to reinstate full office presence is primarily driven by economic factors — as headcount reduction helps the company boost its margin.
Amazon hired heavily in the COVID-19 aftershock, adding over 400,000 employees through 2020. McBride believes the company has overhired and since then, has gone through several phases, starting with mass layoffs and gradually implementing stricter office requirements to push employees into resigning if they refuse to relocate.
His former colleague, former AWS senior developer Justin Garrison, documented such a practice as "<a href="https://justingarrison.com/blog/2023-12-30-amazons-silent-sacking/">The Silent Sacking</a>."
Garrison explained that instead of openly laying off employees, Amazon quietly encourages them to leave by making their roles undesirable. Employees are excluded from meetings, given unfulfilling work and generally made to feel unwelcome, pushing them to quit voluntarily.
This method helps Amazon cut costs without formally announcing mass layoffs or offering severance packages. His experiences show a company that quietly subverts its employees, avoiding the public scrutiny of large-scale firings.
While the means offer a reasonably clear explanation, the ends are mixed.
McBride's claim about AWS's thin operating margins is unsubstantiated. That segment has been the most profitable, with margins reaching almost 40%.
Still, his remark on tax breaks and the office presents a more reasonable angle. In 2022, Amazon received<a href="https://qz.com/amazon-s-5-billion-discount-see-all-its-tax-cuts-and-1849821611"> at least $5 billion</a> in U.S.-based tax breaks and other subsidies from 38 states, with $824 million coming from Virginia, where the corporation has a second domestic headquarters.
The company specifically located the second headquarters there, Crystal City, which is part of Arlington, Virginia, after asking for subsidy proposals from state and local governments.
Furthermore, office-based work can positively impact local economies by supporting restaurants, transportation and other services around corporate hubs. This creates a ripple effect that benefits not just Amazon, but the broader business ecosystem in cities like Arlington.
Also Read: • <a href="https://www.benzinga.com/economics/macro-economic-events/24/09/40927293/powell-defends-0-5-interest-rate-drop-as-right-thing-for-the-economy-doubles-down">Powell Defends 0.5% Interest Rate Drop As &#8216;Right Thing For The Economy,&#8217; Doubles Down On Fed&#8217;s Cautious, Data-Driven Approach</a>
Photo: Shutterstock

Large Cap

Rumors

Management

AMZN

Amazon Ends Remote Work, Former Employee Asks If This Is The Company's Version Of 'Silent Sacking'

Billionaire investor, entrepreneur and NBA team owner Mark Cuban announced that the 16th season of "Shark Tank" <a href="https://www.benzinga.com/news/23/11/35971715/billionaire-entrepreneur-mark-cuban-set-to-leave-shark-tank-after-season-16-its-time">will be his last.</a>
With a new shark set to join the cast alongside Cuban in the 16th season, could the show be testing his replacement?
What Happened: Cuban has been a staple on "Shark Tank" since the third season and has <a href="https://www.benzinga.com/news/23/11/35988212/mark-cuban-to-exit-shark-tank-reflects-on-his-worst-deal-and-surprise-success-shared-with-benzinga">invested over $20 million</a> in companies over the numerous seasons of the award-winning investing show.
With Cuban's decision to leave, questions remain on how the show that airs on Walt Disney Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>) unit ABC will handle future seasons.
On Wednesday, the company announced that Kind Snacks founder Daniel Lubetzky will be joining the show as the first new regular investor in more than a decade, as reported by <a href="https://variety.com/2024/tv/news/shark-tank-kind-snacks-daniel-lubetzky-1236148219/">Variety</a>.
Lubetzky has previously been a guest shark on the show with appearances in Seasons 11 through 15. The billionaire has <a href="https://www.benzinga.com/startups/24/02/37102187/shark-tank-helped-retired-couple-bring-in-over-100-000-in-less-than-24-hours-after-appearing-on-the">invested in companies </a>such as Yellow Leaf Hammocks, FitFighter, Toast-It and HummViewer while on the show.
With Lubetzky as part of the regular list of panelists, it adds a billionaire who Forbes estimates his wealth at $2.3 billion. Cuban has a net worth of $5.7 billion according to Forbes.
Lubetzky <a href="https://www.benzinga.com/m-a/20/11/18428174/a-look-at-mars-latest-acquisition-kind-bars">sold Kind Snacks </a>to Mars in 2020. He now runs the investment company Camino Partners.
"It's an honor to be part of a production that continues to educate, entertain and unite Americans behind the spirit of building together," Lubetzky said.
Lubetzky said he is looking forward to "partnering with entrepreneurs from all walks of life" who are pursuing the American dream.
Did You Know?
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<li>Congress Is Making Huge Investments. <a href="https://www.benzinga.com/gov-trades/?utm_source=BZprocontent091824">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>
What's Next: Lubetzky is set to join the Season 16 panel, which will include the regular rotation of sharks Cuban, Barbara Corcoran, Lori Greiner, Robert Herjavec, Daymond John and Kevin O'Leary. The season will be Cuban's last.
The show, which is produced by Amazon.com Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>)-owned MGM Television in association with Sony Group Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SONY#NYSE">SONY</a>) unit Sony Pictures Television doesn't show plans of slowing down despite Cuban leaving.
According <a href="https://www.nytimes.com/2024/09/18/business/daniel-lubetzky-shark-tank-mark-cuban.html">to </a>the New York Times, Lubetzky signed a multi-season deal, which likely indicates the producers' confidence in the billionaire having a big part in the show in a post-Cuban world.
"Shark Tank" executive director Clay Newbill said Lubetzky is not a direct replacement for Cuban though.
"Personally, I don't think that you can replace Mark Cuban. He's a force on the show," Newbill said.
Four new guest sharks are also being added for Season 16, including venture capitalist Rashaun Williams and Raising Cane's CEO Todd Graves.
Season 16 is set to premiere on ABC on Oct. 18.
Photo: Shutterstock

Entertainment

Media

Sony Group Corporation American Depositary Shares

SONY

Slide Over Mark Cuban, There's A New Shark In The Pool: Could This Billionaire Be His Replacement On 'Shark Tank'?

Thailand has introduced a new cannabis bill to regulate the country&#8217;s booming marijuana industry, marking the latest step in its ongoing efforts to steer cannabis use toward medical and<a href="https://www.benzinga.com/topic/medical-cannabis"> health-related purposes. </a>
This move comes after a series of policy shifts and follows the 2022 decriminalization of the plant, which made Thailand the first country in Asia to take such action.
See Also: <a href="https://www.benzinga.com/markets/cannabis/24/08/40492719/thailands-cannabis-prices-drop-amid-oversupply-and-legal-uncertainties-pakistan-senate-reviews-m">Thailand&#8217;s Cannabis Prices Drop Amid Oversupply And Legal Uncertainties</a>
The new draft bill, published earlier this week by the Ministry of Public Health, is seen as a more measured approach than previous proposals, Bloomberg <a href="https://www.bloomberg.com/news/articles/2024-09-18/thailand-unveils-new-bill-to-regulate-cannabis-while-keeping-it-legal">reported.</a>
It arrives just days after Prime Minister Paetongtarn Shinawatra's administration took office. The legislation allows cannabis and its extracts to be used for medical treatment and research by state agencies, while also approving its use in herbal remedies, food products, and cosmetics.
<h3 class="wp-block-heading">Softer Stance On Recreational Use</h3>
One key aspect of the bill is its omission of a clause that explicitly outlaws recreational cannabis use, which was part of an earlier draft under former Prime Minister Srettha Thavisin. 
The new version also abandons previous efforts to reclassify cannabis as a "narcotic," a significant shift from the original stance taken by the ruling Pheu Thai Party during last year&#8217;s national elections. 
While Pheu Thai initially vowed to restrict cannabis use to medical purposes over addiction concerns, opposition from the Bhumjaithai Party, a key coalition partner, has resulted in the plant remaining legal.
Despite this more lenient approach, penalties for those who use cannabis outside the bill's defined uses remain steep. 
Under the current draft, individuals caught using cannabis for purposes not specified in the legislation will face fines of up to 60,000 baht (approximately $1,803). Sellers of cannabis products not adhering to the law face even harsher penalties, including a possible one-year jail term, fines of up to 100,000 baht, or both.
<h3 class="wp-block-heading">Impacts On Thailand's Cannabis Boom</h3>
Thailand&#8217;s decriminalization of cannabis in 2022 led to the rapid rise of more than 9,400 cannabis dispensaries across the country, especially in popular tourist destinations and business hubs such as Bangkok. 
With this new bill, the government seeks to bring tighter control over this growing industry, requiring all cannabis growers, sellers and related businesses to apply for licenses or permits. Failure to comply could result in hefty fines or jail terms.
The draft legislation also calls for stricter regulations on the planting, sale, export and import of cannabis. Businesses that produce cannabis-infused goods, such as candies and baked goods, will be required to adhere to the current law, which mandates that these products contain no more than 0.2% THC, the psychoactive compound responsible for cannabis' "high" effect.
The public and industry stakeholders have until September 30 to submit their feedback on the draft legislation. The Ministry of Public Health will review the input and may make changes before presenting the bill to the cabinet. From there, it will head to parliament for approval, where it could still face further debate and revisions.
Read Next:
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<li><a href="https://www.benzinga.com/markets/asia/24/09/40832311/inside-the-thai-retreat-with-cannabis-infused-wellness-treatments-that-target-insomnia-and-more">Inside The Thai Retreat With Cannabis-Infused Wellness Treatments That Target Insomnia And More</a></li>
</ul>
Cover image made with AI.

Asia

Cannabis

Thailand's New Cannabis Bill: Stricter Rules, But Marijuana Remains Legal

A significant Ukrainian drone assault on Russia caused an <a href="https://www.benzinga.com/government/24/09/40888451/russia-to-expand-army-for-third-time-since-war-with-ukraine-began-defense-stocks-rtx-northrop-grumma">earthquake-sized eruption</a> at a major arsenal in the Tver region on Wednesday, forcing citizens in the city of Toropets to evacuate, according to reports from war bloggers and some media.
Unverified video and images on social media showed a huge ball of flame rising into the night sky and numerous explosion detonations tearing across a lake about 240 miles west of Moscow, Reuters reported.
NASA satellites registered intense heat sources coming from an area of about five square miles at the site in the early hours. Earthquake monitoring stations picked up the attack as a small earthquake&nbsp;in the area.
&#8220;The enemy hit an ammunition depot in the area of Toropets,&#8221; said Yuri Podolyaka, a Ukrainian-born, pro-Russian military blogger. &#8220;Everything that can burn is already burning there (and exploding).&#8221;
Read Also: <a href="http://US And Allies Worried Amid Reports Of Russia Potentially Sharing Nuclear Secrets With Iran">US And Allies Worried Amid Reports Of Russia Potentially Sharing Nuclear Secrets With Iran</a>
Ukrainian President Volodymyr Zelenskyy, speaking in his nightly video address, praised the attack without mentioning the target.
&#8220;A very important result was achieved last night on Russian territory and such actions weaken the enemy,&#8221; Zelenskyy said. &#8220;I thank everyone involved. Such precision is truly inspiring.&#8221;
A source in Ukraine&#8217;s SBU state security service told Reuters earlier that the drone attack had destroyed&nbsp;a warehouse storing missiles, guided bombs and artillery ammunition.
Igor Rudenya, governor of the Tver region, said Ukrainian drones had been shot down, a fire had broken out and some residents were being evacuated. He did not say what was burning, Reuters reported.
The size of the main blast shown in the unverified social media video was consistent with 200 to 240 tons of high explosives detonating, said George William Herbert of the Middlebury Institute of International Studies at Monterey in California.
Some war bloggers asked how drones could trigger such large blasts at what was thought to be a highly fortified facility.
Price Action: Defense contractors saw gains and losses by the end of Wednesday&#8217;s trading day.
<ul>
<li>General Dynamics Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GD#NYSE">GD</a>) slipped 0.44% to $302.52</li>
<li>Northrop Grumman Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOC#NYSE">NOC</a>) rose 0.2% to $521.77</li>
<li>TransDigm Group Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TDG#NYSE">TDG</a>) declined 0.12% to $1,273.80</li>
</ul>
Exchange-traded funds that hold defense stocks trended up and down.
<ul>
<li>IShares U.S. Aerospace &amp; Defense ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ITA#BATS">ITA</a>) rose 0.06%</li>
<li>Invesco Aerospace &amp; Defense ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PPA#NYSE">PPA</a>) fell 0.13%</li>
<li>SPDR S&amp;P Aerospace &amp; Defense ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XAR#NYSE">XAR</a>) declined 0.01%</li>
</ul>
Read Now:
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<li><a href="http://over-30-months-of-war-zelensky">Russia Launches &#8216;One Of The Heaviest Strikes&#8217; On Ukraine In Over 30 Months Of War: Zelensky</a></li>
</ul>
Photo: Shutterstock

Global

iShares Dow Jones US Aerospace & Defense Index Fund

Ukrainian Drone Attack Causes Earth-Rattling Blast In Russia's Tver Region

CTSH

mecwacare, Cognizant Embark On Multi-year Relationship To Launch Digital Transformation Program

This will result in Vistra being the sole owner of its Vistra Vision subsidiary, which includes its zero-carbon nuclear, energy storage, and solar generation assets, as well as its retail business.
The net present value of the purchase price as of&nbsp;Dec. 31, 2024, discounted at a&nbsp;6%&nbsp;interest rate, is&nbsp;$3.085 billion.
The agreement does not impact or change Vistra&#39;s capital allocation priorities. Vistra remains committed to its long-term net leverage target of less than 3x2. Vistra also continues to expect to execute at least&nbsp;$2.25 billion&nbsp;of share repurchases in 2024 and 2025 and at least&nbsp;$1 billion&nbsp;in 20263, as well as pay&nbsp;$300 million&nbsp;in aggregate common dividends in each year 2024-20263.
&nbsp;

Vistra Enters Deal With Nuveen Asset Management And Avenue Capital To Acquire Their Combined 15% Equity Interest In Vistra Vision LLC For Undiscounted Purchase Price Of $3.248B Cash, To Be Paid In Five Installments

BLMZ

BloomZ Gets Nasdaq Notification Letter That It Is Not In Compliance With Minimum Market Value Requirement

Core Scientific, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CORZ#NASDAQ">CORZ</a>) shares moved higher Wednesday as markets witnessed the first interest rate cut from the <a href="https://www.benzinga.com/economics/macro-economic-events/24/09/40926026/federal-reserve-delivers-bold-0-5-rate-cut-signals-further-easing-ahead">Federal Reserve in four years. </a>
The Details: Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) miner Core Scientific's stock has climbed more than 20% over the past five days, as investors anticipated an interest rate cut. 
The Federal Reserve announced a 50 basis points (bps) cut Wednesday, bringing the federal funds rate down to a range of 4.75%-5% and increasing the appeal of risk assets like stocks and cryptocurrencies. 
Core Scientific shares climbed throughout Wednesday's session and spiked to an intraday high of $12.48  just after the announcement from Fed Chairman Jerome Powell. 
Read Next: <a href="https://www.benzinga.com/news/large-cap/24/09/40910569/nvidia-salesforce-announce-strategic-ai-collaboration-what-to-know">NVIDIA, Salesforce Announce Strategic AI Collaboration: What To Know</a>
Earlier this month, Core Scientific CEO Adam Sullivan shared plans with Bernstein analysts to <a href="https://www.benzinga.com/top-stories/24/09/40800336/core-scientific-aims-for-25-30-billion-valuation-with-ai-data-center-services-bernstein">significantly expand</a> the company's AI data center services, potentially boosting its valuation to a range of $25 billion to $30 billion.&nbsp;
According to data from <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, Core Scientific shares are trading above the stock&#8217;s 50-day moving average of $10.05 and just under its 52-week high of $12.25.&nbsp;
CORZ Price Action: According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, Core Scientific shares ended Wednesday's session up 4.79% at $12.03.&nbsp;
Read Also:
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<li><a href="https://www.benzinga.com/news/large-cap/24/09/40904271/whats-going-on-with-amazon-stock">What&#8217;s Going On With Amazon Stock?</a></li>
</ul>
Photo: Shutterstock

Movers

Core Scientific, Inc. - Class A Common Stock

CORZ

What Happened With Bitcoin Miner Core Scientific's Stock Today?

Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) shares are moving higher Wednesday. Here&#8217;s <a href="https://www.benzinga.com/news/24/09/40917539/while-apple-abandoned-its-car-project-after-pouring-1b-into-it-its-key-supplier-foxconn-is-now-colla">what you need to know.</a>
What To Know: In significant economic development, the Federal Reserve instituted a<a href="https://www.benzinga.com/economics/macro-economic-events/24/09/40927293/powell-defends-0-5-interest-rate-drop-as-right-thing-for-the-economy-doubles-down"> 50 basis points cut</a>, bringing the federal funds rate to 4.75%–5%. This unexpected move, marking the first rate reduction in more than four years, reflects the Fed&#8217;s greater confidence in managing inflation. 
The Fed also revised its economic growth forecast for 2024 down to 2%. Inflation projections for the same year were also lowered, while unemployment rates were revised upward through 2026.
Future Rate Path: The updated Dot Plot suggests another 50 basis points in cuts in 2024 and an additional 100 basis points by the end of 2025, highlighting a more aggressive easing approach compared to previous projections. This outlook signals a significant shift from the Fed's earlier stance and impacts projections for economic metrics over the next few years.
See Also:<a href="https://www.benzinga.com/economics/macro-economic-events/24/09/40927293/powell-defends-0-5-interest-rate-drop-as-right-thing-for-the-economy-doubles-down"> Powell Defends 0.5% Interest Rate Drop As &#8216;Right Thing For The Economy,&#8217; Doubles Down On Fed&#8217;s Cautious, Data-Driven Approach</a>
What Else: The company formerly abandoned its electric vehicle (EV) project after significant investments. In contrast, its key supplier Hon Hai Precision Industry Co Ltd &#8211; ADR, also known as Foxconn, (OTC:<a class="ticker" href="https://www.benzinga.com/stock/HNHPF#OTC">HNHPF</a>) is advancing in the EV market. Foxconn, collaborating with Sharp, recently unveiled the LDK+ electric vehicle prototype. Designed with a room-like interior, the LDK+ aims to serve as a personal space, highlighting the evolving role of vehicles in the autonomous driving era.
Foxconn demonstrated strategic acumen by focusing on modular EV platforms that allow for cost-efficient, unique model creation. The company has also approved a $246 million investment in Northern Vietnam for manufacturing EV parts, with operations expected to start in January 2025. This investment underscores Foxconn's commitment to enhancing its production capabilities and positioning itself as a notable player in the EV industry.
AAPL Price Action: Apple shares closed Wednesday up 1.80% at $220.69, according to <a href="https://pro.benzinga.com/dashboard?new_user=False&amp;backend=google-oauth2">Benzinga Pro.</a>
<figure class="wp-block-image size-large is-resized"><a href="https://benzinga.slack.com/archives/D072651PB4K/p1722883001180099"><img loading="lazy" decoding="async" width="1024" height="548" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/18141238/AAPL-1-1024x548.png" alt="" class="wp-image-554734" style="width:482px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/18141238/AAPL-1-1024x548.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/18141238/AAPL-1-300x161.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/18141238/AAPL-1-768x411.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/18141238/AAPL-1.png 1078w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
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Photo: Courtesy Apple Inc.

After-Hours Center

HNHPF

Apple Shares Are Trading Higher Today: What You Need To Know

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
After a rocky 2023, many solid small-cap companies are still struggling to get the market&rsquo;s attention despite strong financial recoveries coming out of the pandemic. I believe 2024 could finally be the year these unloved <a href="https://investorplace.com/stock-types/penny-stocks/">penny stocks</a> get some appreciation. With looser monetary policies on the horizon, faster growth may return for smaller businesses, making now a smart time to buy before prices reflect true value.



Of course, penny stocks come with higher risks. But with higher risk can also come higher rewards. I&rsquo;ve dug through the bargain bin to identify three millionaire-maker penny stocks I believe are positioned for a breakout once market sentiment improves. Before the crowd catches on, buying them now could set you up for life-changing returns in 2024 and beyond. Let&rsquo;s start!



<h2>Lesaka Technologies (LSAK)</h2>


<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/02/fintech_1600_1065252818-300x169.png" alt="Online banking businessman using smartphone with credit card Fintech and Blockchain concept"><div>Source: Joyseulay / Shutterstock.com</div></div>


Lesaka Technologies (NASDAQ:<a href="https://investorplace.com/stock-quotes/lsak-stock-quote/">LSAK</a>) offers a compelling risk-to-reward proposition in the long run. This South African banking and fintech company has struggled amidst the country&rsquo;s economic and infrastructure issues. Load shedding and power outages have hampered growth, while a contracting economy in the third quarter presents near-term headwinds.



However, South Africa&rsquo;s outlook is improving. Export industries like precious materials and commodities stand to gain as global prices recover. Fixing long-standing problems will take time, but the building blocks seem to be falling into place. As the external environment improves, Lesaka&rsquo;s strong execution and growth potential should shine through.



The business has more than <a href="https://www.google.com/finance/quote/LSAK:NASDAQ" target="_blank">doubled its revenue</a> from fiscal 2022 to 2023. While top-line growth has moderated recently, it still reached double digits this past quarter. Lesaka also delivered a positive free cash flow of $3.4 million alongside improving profitability. If execution continues, positive earnings could arrive soon.



Looking ahead, analysts forecast double-digit revenue growth in fiscal 2024 and beyond. Valuations also appear reasonable, with forward P/E of just 11x earnings <a href="https://seekingalpha.com/symbol/LSAK/earnings/estimates" target="_blank">expected</a> in 2028. As profits ramp up, Lesaka offers substantial upside from today&rsquo;s levels over the long term.



<h2>Smart Sand (SND)</h2>


<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/08/oilsands1600-300x169.jpg" alt="an image of oil sands"><div>Source: Shutterstock</div></div>


Smart Sand (NASDAQ:<a href="https://investorplace.com/stock-quotes/snd-stock-quote/">SND</a>) offers niche sand production and supply chain solutions to energy companies. Despite recent volatility, I believe Wall Street underestimates its stability and growth potential looking ahead.



Last quarter, Smart Sand <a href="https://www.google.com/finance/quote/SND:NASDAQ" target="_blank">grew revenue by 7.4%</a> year-over-year to $77 million. More importantly, net income increased 150% to $6.7 million. While analysts expect some profit regression, remember that SND exceeded EPS estimates by about 1,600% last quarter! Thus, I am optimistic profits can remain resilient moving forward.



Trailing P/E sits at just 6x, while 2024 <a href="https://seekingalpha.com/symbol/SND/earnings/estimates" target="_blank">revenue estimates of $325 million</a> give a P/S ratio of only 0.25x. As long as business execution remains steady, Smart Sand appears positioned for strong share price appreciation.



<h2>Zoo Digital (ZDGGF)</h2>


<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/socialmedia1600b-300x169.jpg" alt=""><div>Source: Shutterstock</div></div>


Zoo Digital (OTCMKTS:<a href="https://investorplace.com/stock-quotes/zdggf-stock-quote/">ZDGGF</a>) provides cloud-based dubbing, editing, subtitling and other solutions for content creators and media companies. Despite recent financial struggles, its services are becoming more necessary as digital media and streaming continue growing.



Admittedly, near-term financials look bleak. Revenue is <a href="https://seekingalpha.com/symbol/ZDGGF/earnings/estimates" target="_blank">projected</a> to decline nearly 50% in fiscal 2024, ending next March. However, analysts expect a sharp rebound after, with 2026 revenue potentially surpassing Zoo&rsquo;s entire current market capitalization.



Long-term growth forecasts sit around 25% per year through 2026. Valuations also seem attractive, with its <a href="https://www.gurufocus.com/stock/ZDGGF/summary" target="_blank">EV/forward revenue multiple of 0.71x</a> beating 83% of software peers. As profits eventually inflect, Zoo Digital could deliver outsized returns.



On Penny Stocks and Low-Volume Stocks: With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That&rsquo;s because these &ldquo;penny stocks&rdquo; are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that InvestorPlace.com&rsquo;s writers disclose this fact and warn readers of the risks.



Read More: <a href="https://investorplace.com/2014/05/fraud-penny-stocks-scams/">Penny Stocks &mdash; How to Profit Without Getting Scammed</a>



On the date of publication, Omor Ibne Ehsan did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/?utm_source=Nasdaq&amp;utm_medium=referral" target="_blank">Publishing Guidelines.</a>
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The post <a href="https://investorplace.com/2024/01/3-penny-stocks-to-make-you-the-millionaire-next-door-2024-edition/">3 Penny Stocks to Make You the Millionaire Next Door: 2024 Edition</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

3 Penny Stocks to Make You the Millionaire Next Door: 2024 Edition

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
When it comes to building wealth in the stock market, buying shares of quality companies early in their growth trajectories offers perhaps the most proven formula for life-changing returns. However, identifying those diamond-in-the-rough small caps before they become household names presents a major challenge. This is where undiscovered penny <a href="https://investorplace.com/stock-types/growth-stocks/">growth stocks</a> come in.



Though ultra-speculative and high-risk overall, a select group of rapidly expanding businesses trading under $5 per share can transform early investors into millionaires if their disruptive potential is realized. Dedicating a small portion of portfolio capital to thoroughly vetted penny opportunities sets the stage for outsized rewards over time.



Of course, losses are equally likely with such speculative moonshot bets. But by targeting <a href="https://investorplace.com/stock-types/penny-stocks/">penny stocks</a> with strong top-line growth, relatively sound financials, and clear paths to profitability, the odds of multibagger gains improve dramatically. As these thriving young companies scale up, their depressed share prices should eventually reflect the underlying fundamental progress. Let&rsquo;s take a look!



<h2>Altus Power (AMPS)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/09/electricity-wire-1600-300x169.jpg" alt="A concept image of electricity flowing between two disconnected electric cables."><div>Source: ESB Professional / Shutterstock.com</div></div>As a commercial-scale supplier of clean electric power across the U.S., Altus Power (NYSE:<a href="https://investorplace.com/stock-quotes/amps-stock-quote/">AMPS</a>) is focused on expediting the transition to renewable energy nationwide. Through valuable partnerships and acquisitions that enhance growth and reinforce their competitive strengths, Altus has established a footprint across hundreds of sites in over 20 states.



There&rsquo;s no denying Altus Power&rsquo;s stock has underperformed recently, and their less-than-stellar financials certainly don&rsquo;t inspire confidence. However, I believe that if you&rsquo;re targeting multibagger returns this year, AMPS could deliver exactly that. The company seems poised for a financial turnaround as electricity demand swells thanks to escalating EV usage and surging power needs for AI data centers and cloud computing. Essentially, the macro backdrop looks bright for electricity providers like Altus.



Though Altus&rsquo; present financial position appears weak, analysts anticipate a dramatic improvement by 2025, including positive EPS. Even more impressive, earnings growth is <a href="https://seekingalpha.com/symbol/AMPS/earnings/estimates">expected to skyrocket 140% in 2026</a>. At current prices, that means you&rsquo;d be paying only around 18 times the estimated 2026 earnings &ndash; an undeniably cheap forward P/E ratio given that revenues are projected to double from 2024 to 2026.



It&rsquo;s worth noting that Altus does have a track record of missing estimates, like when they undershot Q3 revenue projections by 14% and Q4 figures by 6%. However, given their stellar long-term growth runway, I believe the stock could still realistically deliver multibagger returns over the next few years. The projected growth is just too substantial to ignore.



<h2>Pinstripes (PNST)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/05/pennies-cheap-1600-300x169.png" alt="Pennies in a jar on top of a background of pennies. Pennies. Cheap stocks."><div>Source: John Brueske / Shutterstock</div></div>As an experiential dining and entertainment brand blending bistro fare, bowling, bocce ball and event hosting, Pinstripes (NYSE:<a href="https://investorplace.com/stock-quotes/pnst-stock-quote/">PNST</a>) has carved out a unique niche since its launch in 2007. Having expanded to 13 locations across nine states, Pinstripes aims to open over 100 new venues in the coming years.



The broader &ldquo;eatertainment&rdquo; industry appears poised for vigorous revenue expansion. However, risks remain in terms of successful execution and performance monitoring. Still, I&rsquo;m bullish on Pinstripes&rsquo; potential to generate multibagger returns for patient investors given their strong cash reserves and ambitious growth strategy.



While PNST stock slid in late 2022, it has traded predominantly sideways in recent months. I expect shares to mount an impressive recovery this year. Analyst consensus calls for sales to climb from $122 million this year to <a href="https://seekingalpha.com/symbol/PNST/earnings/estimates">$233 million by 2025</a>. Though Pinstripes isn&rsquo;t forecast to reach profitability over the next couple years projected losses seem manageable at under $10 million annually moving ahead. With $40 million now on the balance sheet, the company has ample capital to fund operations over the next four years as revenues scale dramatically higher. For these reasons, PNST remains a high-conviction penny pick in my book.



<h2>Wishpond Technologies (WPNDF)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/penny-stocks-fingers-300x169.jpg" alt="Image of a penny held between two fingers with a white indoor background. Dividend-Paying Penny Stocks"><div>Source: Shutterstock</div></div>As a provider of online business solutions on a global scale, Wishpond&rsquo;s (OTCMKTS:<a href="https://investorplace.com/stock-quotes/wpndf-stock-quote/">WPNDF</a>) all-in-one platform empowers companies to boost marketing results, accelerate lead generation, streamline sales, optimize ad spend, boost customer referrals and improve conversion rates through AI-powered automation. This diverse functionality allows businesses to optimize their digital presence and unlock growth.



Typically, well-established SaaS marketing players trade at 10-20x forward sales while churning out substantial profits &mdash; a description that admittedly does not apply to Wishpond at current. Although the stock has plunged 66% over the trailing year, it can realistically achieve similar profitability and valuations in the years ahead given the recently renewed growth momentum.



In fact, Wishpond <a href="https://www.google.com/finance/quote/WPNDF:OTCMKTS">recorded a small profit</a> last quarter to reverse previous losses. Looking ahead, analysts forecast annual sales growth will <a href="https://seekingalpha.com/symbol/WPNDF/earnings/estimates">accelerate from 12% in 2023 to 31%</a> by 2025. If Wishpond maintains this growth trajectory and margin expansion continues leading to sustained profitability, multibagger upside potential seems highly attainable here. Wishpond held a healthy cash position of $900,000 and zero debt as of September 2023. Management expects record top and bottom line results this year, powered by increased bundled software sales, larger sales teams and new AI-based product introductions.



<h2>NanoXplore (NNXPF)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/08/penny-stocks-1600-300x169.jpg" alt="Page of newspaper with words penny stocks. Undervalued Penny Stocks"><div>Source: Vitalii Vodolazskyi / Shutterstock.com</div></div>NanoXplore (OTCMKTS:<a href="https://investorplace.com/stock-quotes/nnxpf-stock-quote/">NNXPF</a>) manufactures and supplies high-volume graphene powder for diverse industrial markets. By incorporating graphene into plastics and composites, they enable enhanced products for customers across transportation, packaging, electronics and other sectors.



NanoXplore has immense upside potential as graphene demand swells exponentially over the coming years. The global graphene market is expected to rocket from <a href="https://www.mordorintelligence.com/industry-reports/graphene-market">$790 million in 2024 to $4.84 billion</a> in 2029, expanding at a vigorous 43.64% CAGR. Nicknamed the &ldquo;wonder material,&rdquo; graphene boasts immense strength &ndash; 200 times stronger than steel at the same thickness &mdash; while remaining extremely lightweight.



Multiple catalysts point to possible outperformance of NanoXplore versus current projections. Analysts forecast revenue to leap from <a href="https://seekingalpha.com/symbol/NNXPF/earnings/estimates">$96 million in 2024 to $189 million</a> in 2027. However, as graphene use cases proliferate further, the company will handily beat estimates. NanoXplore&rsquo;s massive production plant in Montreal stands as the world&rsquo;s biggest graphene production facility, uniquely positioning them to capture surging market share.



<h2>SmartRent (SMRT)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/04/rental-th-1600-300x169.png" alt='A paper cutout of a house is attached to a tag reading "for rent."'><div>Source: Pixelbliss / Shutterstock.com</div></div>Despite recent sideways trading and declines, SmartRent (NYSE:<a href="https://investorplace.com/stock-quotes/smrt-stock-quote/">SMRT</a>) delivering compelling long-term gains as profitability draws nearer. As a foremost provider of smart home automation solutions for multifamily residences, SmartRent empowers property owners and managers to streamline operations via software and hardware that controls security, access, utilities and more.



With automation and AI commanding tremendous excitement lately, demand appears strong for SmartRent&rsquo;s offerings as smart homes gain traction. Analysts model near breakeven in 2024, with profits materializing in 2025. At just <a href="https://seekingalpha.com/symbol/SMRT/earnings/estimates">33x estimated 2026 earnings</a>, SmartRent looks cheap compared to forecasted 20%+ annual revenue growth and ~30% annual margin expansion over the next four-plus years. With negligible debt and $215 million in cash, execution risk seems modest. Management guides to $260-$290 million revenue in fiscal 2024, marking SmartRent&rsquo;s first year of positive adjusted EBITDA at $5-$8 million.



<h2>Copperleaf Technologies (CPLFF)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/10/growthstocks_1600_02-300x169.jpg" alt="Hand of woman watering small plant in pot shaped like growing graph representing growth stocks. Sleeper Growth Stocks"><div>Source: Khakimullin Aleksandr / Shutterstock</div></div>Headquartered in Canada but selling globally, Copperleaf (OTCMKTS:<a href="https://investorplace.com/stock-quotes/cplff-stock-quote/">CPLFF</a>) provides software solutions leveraging operational and financial data to optimize asset investment decisions for organizations managing critical infrastructure assets.



As infrastructure spending booms, particularly in the U.S., Copperleaf is well-positioned to benefit by selling its software services to support better capital allocation. Recent results validate this thesis, with 20%+ annual revenue growth projected moving forward.



While profits have yet to materialize, Copperleaf surprised last quarter, exceeding EPS estimates by 42%. With $88 million in the bank and margins set to inflect positively, I believe profit compounding could ignite multibagger upside &mdash; though more likely beyond 2024 given early phase profitability. Still, long-term business momentum clearly points upward in my view.



<h2>ZOO Digital (ZDGGF)</h2>



<div><img width="300" height="200" src="https://investorplace.com/wp-content/uploads/2018/06/cloudmsn-compressor-300x200.jpg" alt=""><div>Source: Shutterstock</div></div>Offering cloud-localized and digital distribution solutions globally, ZOO Digital (OTCMKTS:<a href="https://investorplace.com/stock-quotes/zdggf-stock-quote/">ZDGGF</a>) enables media content like movies and shows to be adapted for different languages and cultures while managing digital delivery. They also provide complementary software offerings related to those services.



No doubt ZOO Digital&rsquo;s recent stock and financial performance has proven lackluster. However, beyond transient headwinds, I expect a return to healthy growth in the years ahead as profitability initiatives gain hold after the near-term decline. Case in point: ZOO Digital&rsquo;s forecasted 3-year free cash flow and revenue growth rates stand at <a href="https://www.gurufocus.com/stock/ZDGGF/summary">144% and 36.3%</a>, respectively. Trading at just $0.46, shares also look extremely inexpensive relative to $1.60 fair value estimate per GuruFocus. Once macro conditions stabilize, ZOO appears poised to capitalize on long-run, secular growth tailwinds.



On the date of publication, Omor Ibne Ehsan did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.
<div>Omor Ibne Ehsan is a writer at InvestorPlace. He is a self-taught investor with a focus on growth and cyclical stocks that have strong fundamentals, value, and long-term potential. He also has an interest in high-risk, high-reward investments such as cryptocurrencies and penny stocks. You can follow him on <a href="https://www.linkedin.com/in/omor-ibne-ehsan-56068022b/">LinkedIn</a>.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/04/7-penny-growth-stocks-to-buy-for-multibagger-gains-this-year/">7 Penny Growth Stocks to Buy for Multibagger Gains This Year</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

7 Penny Growth Stocks to Buy for Multibagger Gains This Year

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Turning $1,000 into $100,000 takes a bit of luck and a ton of tolerance for risk. But for those seeking potentially life-changing returns, micro-cap <a href="https://investorplace.com/stock-types/growth-stocks/">growth stocks</a> may offer that lottery ticket-like upside. Though finding the next 100x bagger is like searching for a needle in a haystack, a small portion of your portfolio in carefully-selected speculative bets could pay off enormously if just one hits it big.



But before jumping in, a word of caution. Dilution kills returns in micro-caps. Many unprofitable startups rely on excessive share issuances to cover losses, making your ownership stake worthless. So, I&rsquo;ll focus on names that are at or near profitability already, or have ample cash reserves to avoid further dilution.



The key is finding micro-caps poised to disrupt markets and scale rapidly once market visibility increases. As Wall Street takes notice, valuations can explode higher in a short amount of time. Many micro-cap companies never gain traction, so position size discipline is critical. Let&rsquo;s explore three speculative micro-cap growth stocks that&nbsp;could&nbsp;deliver life-changing multibagger gains.



<h2>Data Storage Corp (DTST)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/02/big-data-visual-300x169.png" alt="An image of different overlaid data charts"><div>Source: solarseven/Shutterstock</div></div>I have a lot of conviction in Data Storage Corp (NASDAQ:<a href="https://investorplace.com/stock-quotes/dtst-stock-quote/">DTST</a>) going forward, as I&rsquo;ve said before when covering this stock a few months back. It is one of the only independent data companies you can get your hands on, as it is extremely hard to find any pure-play data companies that aren&rsquo;t too big for outsized returns or are simply a &ldquo;data company&rdquo; in name only, instead focusing on cryptocurrencies. The stock&rsquo;s performance has also been excellent, cooling recently. But I believe multibagger returns are possible, even from the stock&rsquo;s current valuation.



This company has solid renewal rates and a sticky customer base. I Data Storage Corp landing huge contracts going forward if it can keep this momentum up. The company has over $100,000 in new monthly billing currently being installed, <a href="https://seekingalpha.com/article/4681023-data-storage-corporation-dtst-q4-2023-earnings-call-transcript">totaling $3.5 million in total contract value</a>. Their overall remaining contract value today is $26.7 million without counting pending renewals. Thus, with the company&rsquo;s market cap at just $33 million, this stock looks like a steal. Moreover, Data Storage Corp has reported positive GAAP earnings per share of 5 cents, with ample room for margin expansion ahead.



<h2>LuxUrban Hotels (LUXH)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/07/hotels-1600-300x169.jpg" alt="Woman standing in hotel room with luggage looking at the view. Hotel stocks."><div>Source: Boyloso / Shutterstock</div></div>LuxUrban Hotels (NASDAQ:<a href="https://investorplace.com/stock-quotes/luxh-stock-quote/">LUXH</a>) has seen the opposite trend so far. The stock has plunged after short seller reports accusing the company of falsely announcing its partnership with a hotel chain. Moreover, LuxUrban was accused of turning dozens of apartments in Manhattan and Brooklyn into illegal short-term rentals and was <a href="https://www.bisnow.com/national/news/hotel/dogged-by-mistakes-fine-lawsuits-and-a-short-seller-hotel-chain-shakes-up-leadership-123302">fined $1.2 million</a> in NYC, which came with a boatload of lawsuits.



As a result, LUXH stock currently trades at a bargain-basement valuation, despite triple-digit growth in most metrics. I believe this provides a good buying opportunity, despite the risks, as the company&rsquo;s core business remains solid. LuxUrban also responded recently to the short seller reports by reaffirming that it is set to welcome guests at The Royalton by LuxUrban. The stock has recovered almost 30% over the past 24 hours as of the time of writing, but will likely go down again from such a big spike. Still, I think it&rsquo;s worth a long-term buy!



<h2>Zoo Digital Group plc (ZDGGF)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/09/cloud-computing-300x169.jpg" alt="an image of a cloud imprinted on a circuit board lit up by blue circuit lights. AVCT stock. cloud computing stocks"><div>Source: Blackboard / Shutterstock</div></div>Zoo Digital Group (OTCMKTS:<a href="https://investorplace.com/stock-quotes/zdggf-stock-quote/">ZDGGF</a>) provides cloud-based localization and digital distribution services. The company operates in two segments: Media Production and Software Solutions. Zoo Digital&rsquo;s services are used primarily for digital content authoring, video post-production, and localization for entertainment, publishing, and packaging markets.



Companies in this sector trade at very large premiums, and Zoo Digital instead trades at quite a big discount. Cloud-based software companies usually trade above 10-times forward sales if they have good margins. Unfortunately, Zoo Digital&rsquo;s net margin sits at -8.6% due to the company still being in its growth phase. However, I see significant potential for profits as the company matures and grows its revenue base.



Analysts expect revenue will <a href="https://seekingalpha.com/symbol/ZDGGF/earnings/estimates">recover from $40 million in 2024 to $63 million in 2025</a> and margins should also turn positive soon. The stock trades at a very compelling price of only 50 cents, which means it trades at 0.75-times 2025 estimated sales. Gurufocus puts the stock&rsquo;s <a href="https://www.gurufocus.com/stock/ZDGGF/summary">fair value at $1.60</a>. I think it could be worth even more.



<a href="https://investorplace.com/stock-types/penny-stocks/">Penny Stocks</a>



On Penny Stocks and Low-Volume Stocks:&nbsp;With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That&rsquo;s because these &ldquo;penny stocks&rdquo; are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that&nbsp;<a href="http://investorplace.com/" target="_blank">InvestorPlace.com</a>&rsquo;s writers disclose this fact and warn readers of the risks.



Read More:&nbsp;Penny Stocks &mdash;&nbsp;<a href="https://investorplace.com/2014/05/fraud-penny-stocks-scams/">How to Profit Without Getting Scammed</a>



On the date of publication, Omor Ibne Ehsan did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines.</a>
<div>Omor Ibne Ehsan is a writer at InvestorPlace. He is a self-taught investor with a focus on growth and cyclical stocks that have strong fundamentals, value, and long-term potential. He also has an interest in high-risk, high-reward investments such as cryptocurrencies and penny stocks. You can follow him on <a href="https://www.linkedin.com/in/omor-ibne-ehsan-56068022b/">LinkedIn</a>.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/04/how-to-turn-1k-into-100k-with-these-3-micro-cap-growth-stocks/">How to Turn $1k into $100k With These 3 Micro-Cap Growth Stocks</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

How to Turn $1k into $100k With These 3 Micro-Cap Growth Stocks

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
You and I both know that <a href="https://investorplace.com/stock-types/penny-stocks/">penny stocks</a> carry substantial risk &mdash; that&rsquo;s a given. However, it&rsquo;s wise to have a small, speculative portion of your portfolio dedicated to these high-upside plays.&nbsp;While the odds of hitting a multi-bagger are&nbsp;slim, the potential rewards can be&nbsp;life-changing if you&nbsp;catch lightning in a bottle.



Sure, the chances of such an outcome are remote, but it&rsquo;s not an impossibility either.&nbsp;Over the years, we&rsquo;ve witnessed numerous penny stocks skyrocket from obscurity to&nbsp;mainstream juggernauts.



The key lies in identifying quality businesses with robust growth runways and a visible path toward consistent profitability. While penny stock management teams don&rsquo;t exactly inspire confidence, there are always diamonds in the rough. These potential multi-baggers may be flying under Wall Street&rsquo;s radar today, but that could change in a heartbeat once the growth story gains traction.



A modest 5-10% allocation to high-risk, high-reward plays can supercharge your overall portfolio returns without jeopardizing your core holdings. Of course, this strategy requires an iron-clad stomach to withstand the inherent volatility. But for those with the appropriate risk tolerance, the following seven penny stocks could potentially deliver such gain.



<h2>SSC Security Services Corp. (SECUF)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/cybersecurity1600-300x169.jpg" alt="Cybersecurity Stocks. AI stocks"><div>Source: Shutterstock</div></div><a href="https://investorplace.com/industries/technology/cybersecurity/">Cybersecurity stocks</a> have been&nbsp;red&nbsp;hot amid an epidemic of hacking and data breaches. However, SSC Security Services (OTCMKTS:<a href="https://investorplace.com/stock-quotes/secuf-stock-quote/">SECUF</a>) has languished flat for five years. I expect this disconnect to change.



Revenue has <a href="https://www.google.com/finance/quote/SECUF:OTCMKTS">ballooned from $25 million to $109 million</a> from 2020 to 2023. Yet, net income barely budged. That&rsquo;s mostly because the company&rsquo;s management focuses more on growth than margins. Once efficiency improves, profitability should soar. Pricing power is a given in cybersecurity, so I have zero worries about this company&rsquo;s ability to become solidly profitable.



Either way, cash exceeds debt 5 to 1. When profitability matches top-line momentum, SECUF could deliver exponential upside. The stock has a <a href="https://www.gurufocus.com/stock/SECUF/summary">$10+ fair value estimate</a> per Gurufocus.



<h2>Inter &amp; Co (INTR)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/08/financials1600d-300x169.jpg" alt="A laptop, pencil, pair of eyeglasses, and many coins rest on a wooden table."><div>Source: Shutterstock</div></div>Inter &amp; Co (NASDAQ:<a href="https://investorplace.com/stock-quotes/intr-stock-quote/">INTR</a>) is a high-upside penny stock with minimal downside risk here. This Brazilian super app consolidates banking, investing, insurance and other financial services under one umbrella. The &ldquo;one-stop shopping&rdquo; model has fueled stellar growth in developing markets. And INTR is solidly profitable.



Projections call for 25% revenue growth in 2024 and 18% annually&nbsp;after that.&nbsp;EPS is expected to climb from $0.43 to $0.73 in the same timeframe. You&rsquo;re paying 13x forward earnings for this growth, which is very cheap for a software company. Moreover, the stock also has a 0.59% dividend yield for income while you wait.



Inter &amp; Co ranks as Brazil&rsquo;s 3rd largest neobank with 27 million customers. As the country&rsquo;s market expands rapidly, INTR seems poised to capitalize.



<h2>Nanosonics (NNCSF)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/10/syringe-needle-biopharma-1600-1-300x169.jpg" alt="A syringe with a safety cap and a surgical mask laid out on a blank background"><div>Source: shutterstock.com/Michele Ursi</div></div>Nanosonics (OTCMKTS:<a href="https://investorplace.com/stock-quotes/nncsf-stock-quote/">NNCSF</a>) is an infection control company. Its flagship product, the trophon ultrasound probe disinfector, enjoys strong demand in semi-critical procedures. NNCSF&rsquo;s multi-year slide has been ugly. However, I&rsquo;m bullish on a turnaround.



It <a href="https://www.google.com/finance/quote/NAN:ASX">delivered 38% top-line growth</a> for all of 2023. Plus, almost $20 million in net income proves Nanosonics has turned the corner profitability-wise.&nbsp;Analysts forecast approximately 10% annual revenue growth over the next decade. This company also has a sturdy cash position exceeding debt 11 to 1. You&rsquo;d rarely clean balance sheets like this regarding penny stocks.



<h2>ITM Power (ITMPF)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/01/fuel-cell-300x169.jpg" alt="An image of a fuel cell battery in a Toyota engine."><div>Source: Takashi Images/Shutterstock</div></div>ITM Power (OTCMKTS:<a href="https://investorplace.com/stock-quotes/itmpf-stock-quote/">ITMPF</a>) is an exciting clean energy play that could surge once rates decline. This&nbsp;U.K.&nbsp;company produces hydrogen fuel cells, harnessing renewable electricity and water to generate emission-free hydrogen for vehicles, power and industry. With the world&rsquo;s largest proton exchange membrane factory, ITM is scaling up as demand for green hydrogen accelerates.



While the stock has languished below a penny recently, a turnaround may be imminent given ITM&rsquo;s triple-digit growth trajectory. Analysts forecast revenue rising from <a href="http://seekingalpha.com/symbol/ITMPF/earnings/estimates">$21 million to $1.14 billion</a> over the next decade &mdash; a staggering increase even if they fall short.



The company boasts a fortress balance sheet with $309 million in cash against only $9 million in debt.&nbsp;This&nbsp;provides ample funding to reach&nbsp;profitability&nbsp;as the net loss shrinks. It was just $9 million last quarter compared to $101 million in fiscal 2023.



<h2>KonaTel (KTEL)</h2>



<div><img width="300" height="200" src="https://investorplace.com/wp-content/uploads/2020/10/5g-investing-300x200.jpg" alt='Hand holding phone with holographic "5G." represents 5g investing'><div>Source: Shutterstock</div></div>KonaTel (OTCMKTS:<a href="https://investorplace.com/stock-quotes/ktel-stock-quote/">KTEL</a>) presents a speculative but potentially lucrative telecom play. KonaTel relies partially on the federal Affordable Connectivity Program (ACP)&nbsp;along with&nbsp;the Lifeline subsidy. With <a href="https://www.cnet.com/home/internet/the-acp-helps-millions-afford-internet-it-could-be-gone-by-next-year/">ACP funds set to run out in April</a>&nbsp;barring&nbsp;renewed support from Congress, fears have crushed the stock.



However, much negativity appears priced in already. Even if ACP discontinues, the Lifeline program will still be running. While a complete loss of ACP would still hurt, KonaTel can benefit from its existing Lifeline customers and pursue new contracts. These opportunities seem overlooked at current prices.



Admittedly, KonaTel is still high-risk.&nbsp;However, the company could bounce back post-ACP with 5G and rural broadband expansion tailwinds.&nbsp;The upside may justify taking a starter position.



<h2>Zoo Digital (ZDGGF)</h2>



<a href="https://investorplace.com/wp-content/uploads/2024/02/fingers-touching-digital-world.jpg"><img width="300" height="180" src="https://investorplace.com/wp-content/uploads/2024/02/fingers-touching-digital-world-300x180.jpg" alt="An image of two fingers touching a holographic digital Earth"></a>Zoo Digital (OTCMKTS:<a href="https://investorplace.com/stock-quotes/zdggf-stock-quote/">ZDGGF</a>) has struggled recently amid sliding margins and slowing sales. However, this obscures its long-term potential &mdash; revenue and free cash flow have&nbsp;<a href="https://www.gurufocus.com/stock/ZDGGF/summary">compounded at 36% and 144% </a>over the past three years.



It is trading at just 1.1x forward sales right now. Thus, ZDGGF could be poised to rebound once macro conditions improve,&nbsp;given&nbsp;its <a href="http://seekingalpha.com/symbol/ZDGGF/earnings/estimates">59% projected sales recovery</a> next year. The company&rsquo;s solutions remain critical for adapting global media content.



With a superb cash position and no debt, Zoo Digital has levers to drive a turnaround. Gurufocus estimates shares could quadruple to reach fair value.



<h2>Byron Energy (BYROF)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/04/energy-stocks-1600-300x169.png" alt="Person holding the glowing world in their hands with icons with different types of energy. AI Recommended Energy Stocks in July"><div>Source: PopTika / Shutterstock</div></div>As energy security concerns mount, Byron Energy (OTCMKTS:<a href="https://investorplace.com/stock-quotes/byrof-stock-quote/">BYROF</a>) is an oil and gas exploration play.&nbsp;This Australian driller operates in the&nbsp;U.S.&nbsp;Gulf of Mexico through various blocks with high working interests. Its focus on shallow waters differentiates Byron from its peers.



With Trump vowing domestic energy expansion, Byron looks positioned to capitalize.&nbsp;Revenue&nbsp;is forecast&nbsp;to climb from <a href="https://seekingalpha.com/symbol/BYROF/earnings/estimates">$60 million to $91 million in 2025</a>,&nbsp;with attractive net margins at almost 24%.&nbsp;It trades at just 11 times earnings. Trump has solid poll numbers, so it might be time to invest in some stocks that would benefit from him possibly winning. Even if he isn&rsquo;t elected, the U.S. still greatly focuses on energy independence.



Admittedly, small-cap <a href="https://investorplace.com/industries/energy/">energy stocks</a> bring elevated risks. However, Byron&rsquo;s reserves and political backdrop make it an asymmetric opportunity. Gurufocus <a href="https://www.gurufocus.com/stock/BYROF/summary">estimates $0.35 as fair value</a>.



On Penny Stocks and Low-Volume Stocks:&nbsp;With only the rarest exceptions, InvestorPlace does not publish commentary about companies with a market cap of less than $100 million or trade less than 100,000 shares daily. These &ldquo;penny stocks&rdquo; are frequently the playground for scam artists and market manipulators. If we ever publish commentary on a low-volume stock that may be affected by our commentary, we demand that&nbsp;<a href="http://investorplace.com/" target="_blank">InvestorPlace.com</a>&rsquo;s writers disclose this fact and warn readers of the risks.



Read More:&nbsp;Penny Stocks &mdash;&nbsp;<a href="https://investorplace.com/2014/05/fraud-penny-stocks-scams/">How to Profit Without Getting Scammed</a>



On the date of publication, Omor Ibne Ehsan did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.
<div>Omor Ibne Ehsan is a writer at InvestorPlace. He is a self-taught investor with a focus on growth and cyclical stocks that have strong fundamentals, value, and long-term potential. He also has an interest in high-risk, high-reward investments such as cryptocurrencies and penny stocks. You can follow him on <a href="https://www.linkedin.com/in/omor-ibne-ehsan-56068022b/">LinkedIn</a>.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/04/invest-1000-in-these-7-penny-stocks-for-100k-in-gains/">Invest $1,000 in These 7 Penny Stocks for $100K in Gains</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

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