Gain detailed insights into the trading activity of Congress members for JMBS on our government trades page. Stay updated on how elected officials are investing in JMBS.

JMBS - Government Trades

ETF Winners And Losers: Small-Cap Fund Flows - JMBS And IVOL Up During Rocky Week

News

ETFs

IVOL

JMBS

PNFP

We performed a screening of small-cap ETFs - defined as having Assets Under Management (AUM) between $400 million and $2 billion - to determine what funds had the largest change in net assets on the week, according to data from etfdb.com. Only non-leveraged funds were considered. 

Janus Henderson Mortgage-Backed Securities ETF

Cannabis plants interspersed with thousands of tulips all sprung up together in the garden in front of Wisconsin's state capitol building to the surprise, or delight, of many passersby. Authorities say it was not the result of someone haphazardly tossing a few weed seeds into the colorful tulip patch, which is a popular spring tourist attraction.
More than 25,000 tulips spectacularly spring to life, en masse, in the gardens surrounding&nbsp;the Wisconsin state Capitol.
Tatyana Warrick, a spokeswoman for the Wisconsin Department of Administration, told The Associated Press in an email Friday that workers removed the cannabis plants but that she and her agency couldn&#8217;t quite figure out if they were marijuana or hemp.
Botanist Weighs In
University of Wisconsin-Madison botanist Shelby Ellison, who examined the plants before they were removed, told local TV station <a href="https://www.wmtv15news.com/2024/05/17/cannabis-spotted-near-wisconsin-state-capitol/?utm_source=lakelandtoday.ca&amp;utm_campaign=lakelandtoday.ca%3A%20outbound&amp;utm_medium=referral">WMTV</a> that they were cannabis plants. But then <a href="https://www.lakelandtoday.ca/world-news/up-in-smoke-workers-remove-dozens-of-apparent-marijuana-plants-from-wisconsin-capitol-tulip-garden-8765049">she told AP</a> that she couldn&#8217;t say for certain whether they were marijuana or hemp. Hemp and marijuana are the same plant, with a major difference being that hemp is a mixture of male and female cannabis plants and its flowers produce less than 0.3% THC. Hemp plants also tend to be taller and contain more fiber in their stalks.
But Ellison did confirm the obvious: someone planted them intentionally. "It was just a large number of plants for it to be anything accidental," she said. 
NIH Weighs In
Naturally, the weed plants were all ripped out and destroyed. Interestingly, a <a href="https://pubmed.ncbi.nlm.nih.gov/34362475/#:~:text=Indoor%20cannabis%20cultivation%20is%20energy,absorb%20and%20store%20heavy%20metals.">National Institutes of Health</a> (NIH) study concluded several years ago that cannabis cultivation can directly contribute to soil erosion and has the ability to absorb and store heavy metals.
But, alas, Wisconsin is among the <a href="https://www.benzinga.com/markets/cannabis/24/05/38679143/ho-chunk-nation-decriminalizes-cannabis-on-its-land-in-wisconsin-viewed-as-an-island-of-prohibit">very few U.S. states</a> where cannabis remains illegal in all forms, though Gov. Tony Evers (D) has been a <a href="https://www.benzinga.com/markets/cannabis/24/01/36514923/wisconsin-gov-evers-will-support-the-gops-limited-medical-marijuana-proposal-as-long-as-its-reas">vocal advocate</a> of legalizing medical and adult-use marijuana. Assembly Republicans introduced a bill in the last session that would have legalized medical marijuana, but they couldn&#8217;t gather enough support for the measure to even get a hearing.
Photo courtesy of Wisconsin state capitol

Cannabis

Government

Tech

Tiptoe Through The 25,000 Tulips, But Watch Out For Cannabis Plants In Wisconsin's Capitol Building Garden

The campaign for President Joe Biden has declined two additional debates proposed <a href="https://www.benzinga.com/news/24/04/38240111/unlike-his-behavior-in-e-jean-carroll-case-donald-trump-is-going-to-have-sit-there-in-upcoming-crimi">by the campaign for former President Donald Trump.</a>
What Happened: The Biden campaign rejected the proposed debates on Friday. The debates were to be hosted by NBC News and Telemundo, and Fox News at Virginia State University, respectively.
Trump had accepted the debates, aiming to reach larger Latino and Black audiences. This move was perceived as a challenge to the Biden campaign, which has been&nbsp;struggling to connect with the&nbsp;communities, <a href="https://www.nbcnews.com/politics/2024-election/biden-rejects-debates-trump-nbc-telemundo-fox-news-rcna152860">reported&nbsp;</a>NBC News.&nbsp;
A Biden campaign official stated, &quot;The debate about debates is over. No more games.&rdquo;
The Trump campaign criticized Biden&#39;s decision, alleging that Biden&#39;s team was afraid to let the president&nbsp;defend his record.
&quot;The Telemundo/NBC debate would be widely watched by Hispanic voters, but Biden&rsquo;s handlers are petrified to allow him to defend his disastrous record,&quot; Danielle Alvarez, a&nbsp;campaign spokeswoman, said. &quot;Crooked Joe Biden is too &#39;cobarde&#39; to address the Hispanic community and answer for his failures on the debate stage!&quot; Earlier this week, the Trump and Biden campaigns bypassed the traditional process run by the Commission on Presidential Debates and agreed to two presidential debates.
CNN will host one in Atlanta on June 27 and&nbsp;ABC News will host another on Sept. 10, the location of which has yet to be determined.
Also Read:&nbsp;<a href="https://www.benzinga.com/news/24/05/38909495/ivanka-trump-could-back-in-the-political-limelight-as-donald-trumps-influence-grows-report">Ivanka Trump Could Back In The Political Limelight As Donald Trump&#39;s Influence Grows: Report</a>
The Biden campaign also accepted an offer for a vice presidential debate hosted by CBS News, but the Trump campaign has not yet confirmed its participation.
Why It Matters: This development follows a series of events that have shaped the current political landscape. Trump had made an unusual demand, insisting that <a href="http://www.benzinga.com/news/24/05/38907865/donald-trump-issues-eyebrow-raising-demand-ahead-of-proposed-debates-with-joe-biden-i-just-wanna-deb">Biden undergo a drug test</a>&nbsp;ahead of their debates scheduled for June and September. The former president claimed that Biden was under the influence of drugs during his State of the Union address in March.
Furthermore, <a href="http://www.benzinga.com/news/24/03/37937751/trump-vs-biden-one-candidate-gains-ground-in-swing-states-shakes-up-election-race">Biden has&nbsp;been gaining ground against Trump</a> in six pivotal swing states, marking a significant shift in the electoral landscape. This surge for Biden emerged after five months during which Trump consistently led. The momentum shift started following a State of the Union address that not only unified Democrats but also alleviated some concerns regarding Biden&rsquo;s age.
Now Read:&nbsp;<a href="https://www.benzinga.com/news/24/02/37299651/trump-vs-biden-poll-shows-one-candidate-holding-slim-advantage-over-another-in-hypothetical-matchup" target="_blank">Trump Vs. Biden: Poll Shows One Candidate Holding Slim Advantage Over Another In Hypothetical Matchup</a>
This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" style="color:#0563c1; text-decoration:underline" target="_blank">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Photo: Shutterstock

Politics

General

Biden's Campaign Shuts Down Trump's Challenge For Additional Debates: 'The Debate About Debates Is Over, No More Games'

With the start of a new week comes the excitement surrounding a new set of companies looking to make an impact through their public offerings. <a href="https://pro.benzinga.com/?utm_source=insights">According to Benzinga Pro</a>, these enticing companies are scheduled to trade publicly this week.
<ul>
<li>Bowhead Specialty Holdings Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BOW#NYSE">BOW</a>) becomes publicly listed starting on May 23, 2024. The company has a price range set between $14.00 and $16.00 with a 180-day lockup period. Bowhead Specialty Holdings Inc will be offering 6,667,000&nbsp;shares at a per-share value of $15.00.</li>
<li>Kayne Anderson BDC, Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KBDC#NYSE">KBDC</a>) will be trading publicly starting on May 22, 2024. Kayne Anderson BDC, Inc will be offering 6,000,000&nbsp;shares at a per-share value of $16.63 with an insider lock-up period of 180 days.</li>
</ul>
<h3>Breaking Down IPOs</h3>
Initial public offerings, or IPOs, are the transitional processes of private companies deciding to go public and offer shares to investors on exchanges. IPOs typically offer companies the ability to build capital by distributing shares across the market. A company interested in becoming publicly tradeable must first meet SEC requirements and work with investment banks through audits to determine pricing, offering date, and other important data points before the offering.
Companies and investment banks will work to establish a price range that the stock is expected to sell between. This is known as an offering range. Once a company goes public, its stock comes with an opening price. The insider lock-up period is usually a set number of days after an IPO where company insiders, or employees with a 10% or higher stake in their company, cannot sell shares.
This article was generated by Benzinga&#39;s automated content engine and reviewed by an editor.

IPOs

KBDC

A Look At Upcoming IPOs For The Week

Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) is currently going through harrowing times, dealing with an <a href="https://www.benzinga.com/news/24/04/38257532/tesla-stock-tumbles-as-category-5-demand-storm-persists-whats-going-on">inclement economic environment and rising competition.</a> Amid these trying times, CEO Elon Musk on Saturday lamented about &#8220;naysayers&#8221; who wished that the company go down.
What Happened: A Tesla investor shared his grievance regarding so much hate toward the electric vehicle maker. &#8220;The number of people that wish $TSLA (a US company) to go bankrupt and would rather see BYD (a Chinese company) thrive and win is concerning, absurded, and backwards,&#8221; the investor said on X, formerly Twiter.
He also noted that China wants Tesla to succeed, referring to the company&#8217;s success in China despite strong domestic competition and the country&#8217;s recent favorable stance towards the rollout of Tesla&#8217;s full self-driving technology.
Reacting to the comment, Musk said, &#8220;The Tesla naysayers are loud, but are rare outside of hedge fund short sellers and far left activists. And, of course, our amazing President.&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The Tesla naysayers are loud, but are rare outside of hedge fund short sellers and far left activists. And, of course, our amazing President &#x1f60d;
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1791917896991678640?ref_src=twsrc%5Etfw">May 18, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also: <a href="https://www.benzinga.com/money/everything-you-need-to-know-about-tesla-stock">Everything You Need To Know About Tesla Stock</a>
Why It&#8217;s Important: Musk and Biden have not shared a cordial relationship, with the president repeatedly snubbing the latter at electric vehicle summits organized by the White House. Biden, while applauding General Motors and Ford, has never openly acknowledged Tesla's role in spearheading the EV revolution in the U.S.
That said, the <a href="https://www.benzinga.com/markets/asia/24/05/38824198/biden-announces-massive-tariffs-on-chinese-imports-to-protect-us-industries-clean-energy-solar-stock">Biden administration recently announced 100% tariffs on Chinese EV imports</a> even as companies from the Asian nation have been striving to get around the import curbs by setting up shop in Mexico.
The billionaire, on his part, has been very vocal in criticizing the president for his lack of mental acuity. In a separate post on Sunday, he took a swipe at the president for reading off a teleprompter. When one of his followers shared a video clip of the president&#8217;s speech, Musk said, &#8220;Whoever controls the teleprompter is the real president.&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Whoever controls the teleprompter is the real president
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1791916305651794215?ref_src=twsrc%5Etfw">May 18, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
<figcaption class="wp-element-caption">Musk has also criticized the president&#8217;s immigration policy and has been open about his right-leaning political views.</figcaption></figure>
Tesla&#8217;s flailing fundamentals and the management&#8217;s strategic decisions have earned it the displeasure of even bulls such as Future Fund&#8217;s Gary Black. The company has a great test coming up as shareholders are due to vote on reapproving Musk&#8217;s 2018 compensation plan, which legal experts believe may have to pass unanimously, given it is pay for past work.
Tesla ended Friday&#8217;s session up 1.50% at $177.46, according to <a href="https://benzinga.grsm.io/register174">Benzinga Pro data.</a>
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="http://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38907618/tesla-sweats-over-approval-of-elon-musks-pay-plan-fords-distress-call-to-suppliers-">Tesla Sweats Over Approval Of Elon Musk&#8217;s Pay Plan, Ford&#8217;s Distress Call To Suppliers, Faraday Future&#8217;s Mouthwatering Rally And More: Biggest EV Stories Of The Week</a>
Photo: Shutterstock

Equities

TSLA

Elon Musk Counts 'Amazing' President Joe Biden Among Tesla 'Naysayers' Who Wish To See The EV Maker Go Bankrupt

Markets

Rescheduling Marijuana: How DOJ's Action Could Transform The Industry

In a significant milestone for space tourism, Blue Origin, the space venture of Jeff Bezos, has successfully launched <a href="https://www.benzinga.com/general/space/24/04/38225436/bezos-space-company-announces-new-astronauts-for-blue-origins-7th-crewed-flight-who-are-the-lucky-6">its first crew to suborbital space since 2022</a>. The crew included the oldest person and the first U.S. Black astronaut candidate from the 1960s.
What Happened: As per Reuters, the six-person crew was launched from West Texas on Sunday, marking the revival of Blue Origin&#39;s space tourism operations. Among the crew members was Ed Dwight, who at 90 years and eight months, set the record for the oldest person to travel to space.
The launch took place from Blue Origin&#39;s facilities near Van Horn, Texas. The rocket separated from the capsule, which then ascended to 65.7 miles (105.7 km) beyond Earth&#39;s atmosphere. The booster returned to land as planned, and the capsule descended back to Earth under parachutes after a mission lasting roughly 10 minutes.
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/05/38891429/china-slams-rival-nations-amid-espionage-attempts-in-space-sector-spare-no-effort-to-contain-and-sup">China Slams Rival Nations Amid Espionage Attempts In Space Sector: &#39;Spare No Effort To Contain And Suppress Us&#39;</a>
Ed Dwight was the first Black astronaut candidate selected by former U.S. President John Kennedy in 1961. Despite this, he had never flown to space until now. &quot;I am ecstatic,&quot; Dwight said upon landing.
Why It Matters: Blue Origin&#39;s New Shepard rocket had been grounded since a mid-flight failure in September 2022. The company implemented 21 corrective actions, including an engine redesign and organizational changes, before resuming flights. These changes were overseen by the U.S. Federal Aviation Administration.
Under the leadership of new CEO, Dave Limp, who was appointed last year, Blue Origin has prioritized resuming New Shepard&#39;s routine missions. The company also plans to debut its larger rocket, New Glenn, by the end of this year, further expanding its space tourism operations.
Read Next:<a href="https://www.benzinga.com/news/24/05/38865498/jeff-bezos-owned-blue-origin-to-resume-space-tourism-flights-after-nearly-2-year-long-hiatus">&nbsp;Jeff Bezos-Owned Blue Origin To Resume Space Tourism Flights After Nearly 2-Year Long Hiatus</a>
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo: Shutterstock

SPACE

90-Year-Old Breaks Record As Oldest Astronaut With Blue Origin's Launch

Former President Donald Trump sparked speculation about a potential third term in office during his address at the National Rifle Association&#39;s (NRA) <a href="https://www.benzinga.com/news/24/04/38346954/trump-in-hot-seat-in-hush-money-case-prosecutors-seek-deep-dive-into-ex-presidents-alleged-misconduc">annual meeting on Saturday.</a>
What Happened: Trump alluded to a possible third-term presidency, drawing parallels to Franklin D. Roosevelt&#39;s four-term stint. The audience approved of Trump&#39;s suggestion.
Trump&nbsp;previously flirted with prolonging his tenure in the White House during his 2020 campaign. Nonetheless, he opposed contesting the 22nd Amendment, which forbids a third-term presidency.
Trump&#39;s discourse at the NRA gathering encompassed a variety of subjects, including gun rights, immigration, foreign policy, the economy, and abortion.
He also targeted Robert F. Kennedy Jr. and maintained his attacks&nbsp;on President Joe Biden.
Also Read:&nbsp;<a href="https://www.benzinga.com/news/24/05/38909495/ivanka-trump-could-back-in-the-political-limelight-as-donald-trumps-influence-grows-report">Ivanka Trump Could Back In The Political Limelight As Donald Trump&#39;s Influence Grows: Report</a>
Trump&#39;s address coincides with his ongoing criminal trial in New York, with closing statements anticipated next week.
Trump used the platform to express his dissatisfaction with the indictments and Justice Juan Merchan&#39;s gag order.
Despite the legal hurdles confronting both Trump and the NRA, the organization has endorsed Trump for the 2024 presidential race. Trump implored gun owners to vote in November to secure his victory.
Trump also denounced&nbsp;Biden&#39;s limitations on gun ownership and pledged to overturn the gun safety measures implemented by his administration.
As Trump took center stage at the event, the NRA&#39;s endorsement and its significance in this political cycle are increasingly unclear.
The organization has been plagued with scandals, internal power struggles, and lawsuits that have depleted its funds, raising doubts about its ability to support Trump, especially as&nbsp;his campaign funds trail Biden&#39;s.
Why It Matters: Trump&#39;s campaign has been grappling with financial challenges, as it struggles to match<a href="http://www.benzinga.com/news/24/05/38908248/donald-trumps-campaign-is-spending-just-as-quickly-as-its-raising-money-raising-serious-concerns-in">&nbsp;Biden&#39;s robust financial standing</a>.
Despite raising considerable funds, Trump&#39;s campaign has been spending almost as fast, leaving him at a significant cash disadvantage against Biden.
Furthermore, Trump and House Speaker Mike Johnson have been pushing for a bill to prevent non-citizens from voting, a move that seems more aimed at election security posturing and critiquing the&nbsp;Biden&nbsp;administration&#39;s border policies than addressing <a href="http://www.benzinga.com/news/24/04/38238164/donald-trump-and-mike-johnson-are-pushing-for-a-bill-to-ban-non-citizens-from-voting-despite-an-exis">any genuine electoral integrity concern</a>.
Read Next: <a href="https://www.benzinga.com/news/24/05/38908248/donald-trumps-campaign-is-spending-just-as-quickly-as-its-raising-money-raising-serious-concerns-in">Donald Trump&#39;s Campaign Is Spending Just As Quickly As It&#39;s Raising Money, Raising Serious Concerns In Lead-Up To Election</a>
Photo: Shutterstock

Donald Trump For Third Term? Ex-President Floats Controversial Idea At NRA Convention

The Israeli military has intensified its strikes across the Gaza Strip, coinciding with a visit from White House National Security Adviser Jake Sullivan&nbsp;to <a href="https://www.benzinga.com/news/23/10/35136071/israel-under-siege-unprecedented-hamas-attack-sparks-intense-clashes-netanyahu-says-we-are-at-war">Israeli Prime Minister Benjamin Netanyahu</a>&nbsp;on Sunday.&nbsp;
What Happened: Israeli planes and tanks have been targeting various locations in Gaza. This escalation comes as Sullivan is anticipated to persuade Israel to concentrate its military efforts on Hamas militants rather than initiating a full-scale attack on the southern Gaza city of Rafah, reported Reuters.&nbsp;
Israel has been pushing into Rafah, seen as the last bastion of Hamas forces. This has led to hundreds of thousands of Palestinians fleeing the area.
Israeli forces have also ventured deeper into the narrow lanes of Jabalia in northern Gaza, an area they claim to have cleared earlier in the conflict.
Before Sunday&#39;s discussions, an Israeli official revealed that Netanyahu and his senior aides would discuss with Sullivan the necessity to continue the Rafah push, citing concerns about dozens of tunnels under Rafah allegedly used by Hamas for weapons and ammunition supply.
Also Read:&nbsp;<a href="https://www.benzinga.com/news/24/03/37864583/netanyahu-tells-us-republicans-gaza-war-will-continue-days-after-schumers-speech">Netanyahu Tells US Republicans Gaza War Will Continue, Days After Schumer&#39;s Speech</a>
Amid the escalating conflict, at least 28 Palestinians were killed on Sunday, according to Gaza health officials and Hamas.
The Gaza Civil Emergency Service reported that rescue teams have so far recovered the bodies of 150 Palestinians killed by the army in recent days.
Why It Matters: This escalation follows the <a href="https://www.benzinga.com/news/24/05/38701426/us-paused-israels-weapons-shipment-to-prevent-escalating-rafah-tensions-report">U.S. decision</a> to pause a weapons shipment to Israel earlier this month, in an attempt to prevent a full-scale Israeli assault on Rafah.
This move was seen as a response to growing concerns over potential Israeli military action in Rafah.
However, the <a href="https://www.benzinga.com/news/24/05/38891210/gop-led-house-passes-bill-to-force-biden-to-send-arms-to-israel-amid-war-with-hamas">GOP-led House</a> recently passed a bill to expedite weapons shipment to Israel, countering President Joe Biden&#39;s delay. Despite its passage, the act is not expected to become law.&nbsp;
Now Read:&nbsp;<a href="https://www.benzinga.com/news/23/10/35138138/how-the-israel-hamas-conflict-could-impact-oil-markets">How The Israel-Hamas Conflict Could Impact Oil Markets</a>
This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" style="color:#0563c1; text-decoration:underline" target="_blank">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Photo: Shutterstock

Israel Intensifies Gaza Strikes, Killing At Least 28 Palestinians, As US Envoy Meets With Netanyahu To Prevent Full-Scale Assault

Meme coins, with their wild price swings and internet-fueled frenzy, have become <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38767596/decoding-donald-trumps-crypto-gambit">a land of opportunity</a> for some cryptocurrency traders. 
Millionaire trader Unipcs, also known as the &#8216;<a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38843588/millionaire-trader-up-7-figures-in-48-hours-on-gamestop-and-amc-meme-coins-on-solana">Bonk Guy</a>&#8216;, is a shining example, having amassed significant wealth by riding the surges of these digital assets.
In an interview with Benzinga, Bonk Guy offered a rare glimpse into his strategies and insights on the meme coin market, shedding light on the world of high-risk, high-reward crypto investing.
Early Recognition And Pattern Hunting
His foray into meme coins predates the rise of popular names like Bonk and Wif. &#8220;I&#8217;ve been trading meme coins for a very long time,&#8221; he says, &#8220;and prior to Bonk (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">BONK</a>) and Wif (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">WIF</a>) existing.&#8221;
He credits the 2021 Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) surge and the retail investor movement on WallStreetBets for sparking his interest. 
&#8220;Seeing all the retail buzz around the GME (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">GME</a>) short squeeze, the WSB memecoin mania, and the resulting Dogecoin explosion made something click in me,&#8221; Bonk Guy explains.
He soon noticed a pattern with meme coins and was able to predict which ones were likely to explode, allowing him to invest strategically.
The Power Of Community And Liquidity
Bonk Guy emphasizes the crucial role strong community backing plays in a meme coin&#8217;s success. &#8220;I make sure there is a strong community because meme coins thrive on strong community,&#8221; he states.
He thrives on projects with &#8220;retarded cult-like believers who think their meme coins will flip Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), go to 100 billion dollars market cap, and cure world hunger,&#8221; he says with a touch of amusement. 
&#8220;The more irrational their passion for their meme coins, the better,&#8221; he adds. 
According to Unipics, this fervent loyalty is crucial for propelling a meme coin towards significant price increases.
Liquidity is another key factor. 
While meme coins offer the potential for explosive growth, they require sufficient trading volume to be readily convertible into cash. 
&#8220;Eventually, for any meme coin to go mainstream it needs liquidity,&#8221; Unipics explains. &#8220;So, I also pay attention to volume and CEX listings over time.&#8221;
The Bonk Bet: A Case Study In Meme Coin Mania
Unipics&#8217; sizable investment in Bonk, a Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>) based meme coin, serves as a prime example of his approach. 
While initially skeptical, he was swayed by a combination of factors: the influence of a respected crypto analyst, Bonk&#8217;s status as the leading meme coin on Solana, and the potential for Solana&#8217;s own price appreciation. 
Diamond Hands: Riding The Rollercoaster
Meme coin trading is a wild ride, and Unipics acknowledges the emotional toll it can take. 
He advocates for a &#8220;moon or bust&#8221; mentality, where investors write off their holdings and focus solely on reaching their target profit or accepting a complete loss. 
&#8220;Once I buy an asset, I just write it off in my mind,&#8221; he explains. 
&#8220;I&#8217;m not moved or fazed if it goes to zero. I simply give myself a target and hold until it reaches my target or goes to zero. Nothing else matters.&#8221; 
This approach, he argues, allows for a more detached and less stressful trading experience.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/events/digital-assets/"><img loading="lazy" decoding="async" width="300" height="250" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/27091545/Benzinga-conference.gif" alt="Benzinga future of digital assets conference" class="wp-image-267246" /></a></figure>
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38878472/before-you-trust-another-crypto-guru-read-this-studys-results">Before You Trust Another Crypto Guru, Read This Study&#8217;s Results</a>
Looking Ahead: Bonk, Floki, And Beyond
Bonk Guy remains bullish on Bonk, citing its association with Solana and the potential for further growth.
&#8220;I&#8217;m obviously very bullish on Bonk for reasons I already listed,&#8221; he says. 
&#8220;I&#8217;m the &#8216;bonk guy&#8217; for a reason.&#8221; 
He also highlights Floki (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">FLOKI</a>), another meme coin with a strong track record, as an underrated gem. 
&#8220;Besides Bonk, I&#8217;m very excited about Floki,&#8221; he reveals. &#8220;It is my biggest memecoin bag, and I think it is currently the most underrated major memecoin.
While Floki launched in 2021, it has outperformed every other major memecoin including PEPE (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">PEPE</a>), Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>), DOGE, except WIF, this year. 
&#8220;Yet barely anyone talks about it on CT [Crypto Twitter]. I think it will <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38794260/arthur-hayes-major-economies-to-print-even-more-money-in-the-next-24-months">surprise many this year</a>,&#8221; he predicts.
He also expressed interest in smaller cap meme coins like Lmeow on Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) and Linda on Linea chain.
For those looking to make substantial profits from meme coins, he advises paying attention to his previous strategies and maintaining a strong, patient mindset.
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38853012/crypto-traders-as-socially-valuable-as-escorts-to-brits-study-finds">Crypto Traders As Socially Valuable As Escorts To Brits, Study Finds</a>
Image created using artificial intelligence with Midjourney.

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

Cryptocurrency

$BONK

$BTC

$DOGE

$ETH

$FLOKI

$GME

$PEPE

$SHIB

$SOL

$WIF

'The Dogecoin Explosion Made Something Click In Me:' Veteran Trader Shares Secrets To Turning Pennies Into Millions With Meme Coins

A helicopter carrying Iranian President Ebrahim Raisi and his foreign minister&nbsp;Hossein Amirabdollahian&nbsp;crashed on Sunday.
What Happened: The helicopter crashed while navigating through mountainous terrain in heavy fog. The aircraft was on its way back from a visit to the border with Azerbaijan, reported&nbsp;Reuters.&nbsp;
Reuters quoted officials saying that the lives of&nbsp;Raisi and Amirabdollahian are reportedly &quot;at risk following the helicopter crash.&quot;
&quot;We are still hopeful but information coming from the crash site is very concerning,&quot; Reuters quoted the official, speaking anonymously.
Adverse weather conditions are said to be hampering rescue operations. State television&nbsp;has paused its regular broadcasts to air prayers for Raisi across the nation and live coverage of rescue teams searching the mountainous crash site on foot in the thick fog, added the outlet.&nbsp;
Also Read:&nbsp;<a href="https://www.benzinga.com/news/24/04/38240360/what-a-full-blown-war-between-israel-and-iran-could-entail-according-to-one-report">What A Full-Blown War Between Israel And Iran Could Entail, According To One Report</a>
Interior Minister Ahmed Vahidi confirmed to state television&nbsp;that one of the three helicopters in the convoy had a hard landing, with more details to follow.&nbsp;Raisi was returning from the Azerbaijani border, where he had inaugurated the Qiz-Qalaisi Dam, a joint project.
Why It Matters: Given the high-profile nature of the passengers on board, the incident has caused a stir in the international community.
The potential implications of this accident could be far-reaching, affecting Iran&#39;s internal affairs and diplomatic relations.
The inauguration of the Qiz-Qalaisi Dam, a joint project with Azerbaijan, signifies the importance of the visit, and the incident could potentially impact future collaborations.
Now Read:&nbsp;<a href="http://emaillink.benzinga.com/ls/click?upn=u001.3FxiOxu2VJzSK929J2kTqTdLEt-2BIx-2FHl7lzL1rMLh9nggkIcmBEiSDBo9J8vUDk5IIJ5P2398LH6I95LtwY4jShr0w3nHHwqVPXEip26l62zPz-2BzqmGhPy2N0lK2qoz7fv9J-2FgGb-2Bn8L82vH4UwDiIa1TXgrnrfR0tV6nQRB7uE9TdZ6P-2FLf81yXXYhnaUer6zu1RSekRTyK4JozjCbRBB6V77Rx64SdKIeSxRKcyIZQXYIDQxsMU2t3vU-2BBQjglP66qEs7-2F05TIPj0JGoS6sdADD9oDmubjwrqRffPmcbA-3DFP4n_cgm2JnRt-2FP8vSMnuJoZ2sYFmM2As7BbeApT-2FGB0aH4VhcsiVX0BOBLrhudp6CfNVZY-2B-2Bb2iEKMObz62REWzdDKN8RZoPpdLvoaR6qWYo8zUgwX5XD7Le6J5tRDEvbyfYLMmc1EPJQhBvdgtGDV0LoD1cGlChjC0G-2BcSmBuErP152VNM19fAcEXId1kjYAaarjwqZpvFaTh6YRa-2Fx68jsvt9Trh5-2F8KuvEWQs67-2F15-2FVcsixBvWROtalRjVK89heSnr4PycKhIvIdqNIEnzWKoMAvck9KDO05HayGC7ekD-2BA-3D" target="_blank">Crypto Markets Tumble Following Iran&#39;s Drone Attack Against Israel, Investor Warns Of Continued Selloff</a>
Photo: Shutterstock
This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" style="color:#0563c1; text-decoration:underline" target="_blank">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Iranian President's Helicopter Crashes In Mountainous Terrain, Official Says Leader's Life 'At Risk'

U.S. authorities have privately alerted telecom companies about the potential susceptibility of undersea internet cables in the Pacific Ocean to<a href="https://www.benzinga.com/markets/asia/23/06/32890534/xi-jinping-meets-american-friend-bill-gates-as-chinese-leader-expresses-hope-for-sino-us-relations"> meddling by Chinese repair ships</a>.
What Happened: U.S. State Department officials have raised concerns regarding S.B. Submarine Systems, a state-controlled Chinese firm involved in the repair of international cables.
The company&#39;s ships allegedly hide their locations from radio and satellite tracking services, an action that officials find puzzling, <a href="https://www.wsj.com/politics/national-security/china-internet-cables-repair-ships-93fd6320?mod=hp_lead_pos7">reported&nbsp;</a>The Wall Street Journal.&nbsp;
This warning highlights a previously overlooked security risk to undersea fiber-optic cables. Tech giants such as Google&nbsp;and Meta Platforms, who co-own many cables, depend on specialized construction and repair companies for maintenance.
Some of these firms, including those with foreign ownership, are feared to threaten the security of commercial and military data.
The Biden administration&#39;s focus on these repair ships is part of a broader effort to address China&#39;s maritime activities in the western Pacific.
U.S. officials have conveyed their concerns about potential threats to the security of U.S.-owned cables by Chinese companies to entities including Google and Meta.
Also Read:&nbsp;<a href="https://www.benzinga.com/news/23/07/33106745/us-set-to-restrict-chinas-access-to-cloud-computing-services-from-amazon-microsoft">US Set To Restrict China&#39;s Access To Cloud Computing Services From Amazon, Microsoft</a>
The National Security Council stressed the importance of trusted entities in maintaining and repairing undersea cables transparently and safely.
The administration, however, declined to comment on SBSS. Google and Meta also refused to comment on concerns related to SBSS.
Despite the gaps in the company&#39;s ship-location data, some suggest that these could be due to inconsistent satellite coverage rather than an attempt to hide their positions.
The ships, named the Fu Hai, Fu Tai&nbsp;and Bold Maverick, have periodically disappeared from satellite ship-tracking services while operating off Taiwan, Indonesia&nbsp;and other Asian coastal locations.
Why It Matters: A growing threat is already<a href="http://www.benzinga.com/news/24/05/38632421/chinas-growing-missile-arsenal-is-putting-us-officials-on-edge">&nbsp;posed by China&#39;s</a> rapidly expanding Rocket Force to American bases and warships in the Pacific.
Last year, U.S. intelligence officials <a href="http://www.benzinga.com/news/23/07/33088668/us-spies-sound-alarm-on-risks-of-engaging-in-business-with-china">issued warnings to American companies doing business in China</a>, emphasizing the imminent implementation of an updated counterespionage law in the country.
These events underscore the increasing concern among US officials about China&#39;s activities in the Pacific and their potential impact on US security.
Now Read:&nbsp;<a href="https://www.benzinga.com/news/24/04/38430009/xi-jinping-calls-for-chinese-army-to-focus-on-the-battlefield-during-visit-to-military-medical-unive?itm_source=parsely-api" rel="noreferrer noopener" target="_blank">Xi Jinping Calls For Chinese Army To &lsquo;Focus On The Battlefield&rsquo; During Visit To Military Medical University</a>
This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Photo: Shutterstock

Possible Espionage Threat? US Officials Warn Of Chinese Interference With Undersea Internet Cables In Pacific

Apple, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) is contending with one of the biggest challenges during <a href="https://www.benzinga.com/markets/equities/24/05/38779577/who-would-replace-tim-cook-at-apple-gurman-weighs-in-on-broader-succession-challenges-at-the-tec">CEO Tim Cook</a>&#8216;s tenure, said Bloomberg&#8217;s Mark Gurman on Sunday.
Biggest Test: &#8220;The dawn of AI is his [Cook&#8217;s] biggest test to date,&#8221;<a href="https://www.bloomberg.com/news/newsletters/2024-05-19/what-is-apple-doing-in-ai-summaries-cloud-and-on-device-llms-openai-deal-lwdj5pkz?srnd=undefined"> said</a> Gurman in the latest installment of his weekly &#8220;Power On&#8221; newsletter. Apple entered the AI game back in 2011 with the launch of Siri, its digital assistant, years ahead of others in the AI space. However, it has since trailed behind its competitors, he said.
Apple&#8217;s competition, including OpenAI and Alphabet, Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>), have become &#8220;AI superstars&#8221; and are going from strength to strength, he noted. 
&#8220;Apple's priority now is not getting smoked on its home floor,&#8221; he said.
That said, Apple has some advantages of its own, such as &#8220;money, talent and a powerful platform,&#8221; he said. It will require a meaningful change to its strategy as well as some help from its AI competitors, he added.
Gurman, however, flagged one pushback for Apple. The company&#8217;s AI-related features like Siri rely mostly on processing information on the iPhone itself and lacks data collection, he said. 
&#8220;Apple does both these things deliberately, part of its efforts to protect privacy and security. But they don't always make for the best experience,&#8221; he added.
See Also: <a href="https://www.benzinga.com/money/everything-you-need-to-know-about-apple-stock">Everything You Need To Know About Apple Stock</a>
Fresh Start: Apple now has the opportunity to start fresh, said Gurman. The company is all set to unveil new generative AI features at the annual Worldwide Developers Conference on June 10 and is expected to make some bold changes, he said.
Cupertino will still stick to its &#8220;on-device&#8221; approach, with its own large-language models powering AI features on phones and computers, the Apple specialist said. The company is also planning to deliver services via the cloud, putting its high-end Mac chips into data centers to handle these online features, he said.
Changes To Siri: Gurman expects the company to improve Siri&#8217;s voice capabilities, giving it a more conversational feel, and add features. Calling the approach &#8220;proactive intelligence,&#8221; the Apple leaker said the improvements will likely include services like &#8220;auto-summarizing notifications from your iPhone, giving a quick synopsis of news articles and transcribing voice memos, as well as improving existing features that auto-populate your calendar and suggest apps.&#8221;
&#8220;There will also be some enhancements to photos in the form of AI-based editing, but none of those features will impress people who have used AI in Adobe Inc.'s apps for the last several months,&#8221; he said.
Missing Item: Apple&#8217;s generative AI technology wasn&#8217;t advanced enough for the company to release its own chatbot like ChatGPT or Gemini, Gurman said. Some company insiders are averse to the idea, fearing it could damage Apple&#8217;s reputation. Chatbot mishaps have brought controversy to companies like Google, and they worry similar incidents could tarnish Apple&#8217;s image, he said.
But sensing there is demand for such a feature, Apple is teaming up with OpenAI to add the latter&#8217;s tech to iOS18, the next version of iPhone software, Gurman said. The two companies are prepping to a make a major announcement of this partnership at the WWDC, he said.
Gurman, however, said, to be successful, Apple is going to have to eventually move away from a partnership approach, build a chatbot of its own and integrate it deeply into the company's&nbsp;products. 
Search Feature: Gurman said to handle online searches, Apple should have its own AI-based search engine.
Matching Competition: Apple&#8217;s in-house AI announcements may not be nearly as impressive as what OpenAI and Google have already announced, Gurman said. <a href="https://www.benzinga.com/news/24/05/38809935/openai-just-dropped-gpt-4o-and-these-10-examples-show-it-could-completely-change-ai-chatbot-game">Last week&#8217;s announcements from OpenAI</a> and Google regarding their next phase of AI efforts have pushed Apple further behind, he said.
Gurman also flagged concerns in Apple&#8217;s rank that users will shrug at the new Apple features and not even bother using them. The tech specialist believes speed sets OpenAI and Google apart from Apple. 
&#8220;They can improve their AI technology quickly and keep wowing users. Improvements to Siri and other Apple features, meanwhile, have come at a snail's pace,&#8221; he said.
&#8220;To keep up with the AI frenzy, Apple will need to add major new features at a far quicker rate. The OpenAI deal and cloud-based AI services will help —&nbsp;but there's no plan in place for Apple to accelerate its iOS release cycle, at least in the next year.&#8221;
Apple ended Friday&#8217;s session down 0.02% at $189.87, according to <a href="https://benzinga.grsm.io/register174">Benzinga Pro data.</a>
Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech">following this link.</a>
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38661417/apple-will-pursue-aggressive-and-no-holds-barred-strategy-around-ai-says-bullish-an">Apple Will Pursue &#8216;Aggressive And No Holds Barred Strategy Around AI,&#8217; Says Bullish Analyst: &#8216;Worst Is In Rearview Mirror&#8217;</a>
Photo: Shutterstock

Media

AAPL

GOOG

GOOGL

Apple's WWDC Announcements May Not Be As 'Impressive' As OpenAI, Google, Says Gurman: 'They Can Improve Their AI Technology Quickly And Keep Wowing Users'

Former President Donald Trump&#39;s daughter Ivanka Trump, who had previously stepped away from the political limelight, is reportedly contemplating a return to politics, coinciding with <a href="https://www.benzinga.com/news/24/02/37301314/ivanka-trump-is-now-on-tiktok-even-though-her-father-tried-to-ban-it-in-the-us">her father&#39;s growing political influence.</a>
What Happened: According to a report, Ivanka Trump may be considering a political comeback. This speculation has been fueled by Donald Trump&#39;s resurgence in political power and the approaching&nbsp;election.
R. Couri Hay, a society publicist and longtime acquaintance of the Trump family, observed that Melania Trump, who had also distanced herself from politics, is now frequently seen at events with the former president.
&quot;She is gracious, mingling. My understanding is that privately she&#39;s saying she&#39;s ready to be first lady again if called,&quot; Hay <a href="https://www.businessinsider.com/ivanka-trump-eyeing-return-to-politics-donald-trump-friends-say-2024-5">told </a>Business&nbsp;Insider.
&quot;But now, from a distance, the tide is potentially turning, according to polls,&quot; Hay added. &quot;The idea of assuming some sort of role is something I can imagine Ivanka might be thinking about.&quot;
Also Read:&nbsp;<a href="https://www.benzinga.com/news/24/02/37193915/judge-calls-out-ivanka-trump-in-new-york-civil-fraud-case-says-her-memory-recall-was-suspect">Judge Calls Out Ivanka Trump In New York Civil Fraud Case, Says Her Memory Recall Was &#39;Suspect&#39;</a>
A source familiar with Ivanka Trump&#39;s thinking told the outlet Puck that she is &quot;warming to the idea of trying to be helpful&quot; to another Trump administration and is &quot;privately not ruling out having some sort of role&quot; in the White House if her father is re-elected.
While a representative for Ivanka Trump declined to comment on the speculation, an anonymous friend suggested that although a total return to politics may be unlikely, she&nbsp;has softened her stance on avoiding politics in the future.
Why It Matters: Ivanka Trump&#39;s potential return to politics comes amidst a backdrop of internal power struggles within the Trump family.
Ivanka and Melania Trump had a tense rivalry <a href="http://www.benzinga.com/news/24/02/37303851/melania-trump-vs-ivanka-trump-white-house-power-struggle-unveiled-in-new-tell-all-book">during their time in the White House</a>. This, coupled with Ivanka Trump&#39;s <a href="https://www.benzinga.com/news/23/10/35478375/former-obama-official-predicts-major-rift-between-trump-and-ivanka-how-long-is-it-going-to-take-dona">court testimony against her father</a> in his fraud trial, paints a complex picture of her political journey.
However, Ivanka Trump&#39;s potential return and Melania Trump&#39;s support could be strategic moves to influence public perception.
Their presence could cast Donald Trump in a more <a href="http://www.benzinga.com/news/24/04/38348768/courtroom-appearances-by-these-two-members-of-donald-trumps-family-could-help-him-in-hush-money-tria">favorable light, aligning with his defense</a> strategy of portraying him as a supported and wholesome family man.
Now Read:&nbsp;<a href="https://www.benzinga.com/news/23/10/35481959/trump-slams-judges-decision-on-daughter-ivankas-court-appearance-i-truly-believe-he-is-crazy" target="_blank">Trump Slams Judge&#39;s Decision On Daughter Ivanka&#39;s Court Appearance: &#39;I Truly Believe He Is CRAZY&#39;</a>
This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" style="color:#0563c1; text-decoration:underline" target="_blank">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Photo: Shutterstock

Ivanka Trump Could Back In The Political Limelight As Donald Trump's Influence Grows: Report

In a podcast that aired on Friday, Donald Trump&#8217;s former White House communications director Anthony Scaramucci weighed on what would happen to the presidential race if the former president were found guilty in the <a href="https://www.benzinga.com/news/24/05/38907930/anthony-scaramucci-labels-donald-trumps-hush-money-trial-as-obligatory-loyalty-test-for-republicans">Manhattan hush-money trial.</a>
Where Trial Stands: The prosecutors&#8217; argument in the hush-money case, which alleges Trump falsified business records to pay adult movie star Stormy Daniels to silence her regarding their alleged sexual affair ahead of the 2016 election, has gone well, Scaramucci <a href="https://www.youtube.com/watch?v=-vp9A8Oiu-8">said</a> during the &#8220;Rest Is Politics US&#8221; podcast.
On the other hand, the defense claims Trump didn&#8217;t know about it, arguing there is no criminal intent, said the ex-White House aide. Secondly, Trump&#8217;s lawyers are attempting to establish that Michael Cohen, who funneled the funds, is lying, he said. They pointed out that Cohen was convicted of perjury and served jail time, arguing that, as an ex-felon, he is unreliable.
Delving into the potential impact of Trump being found guilty in the case, Scaramucci said he sees no significant impact. He doesn&#8217;t believe Trump would be arrested and put in jail for this, but the ex-president could potentially face some form of home confinement while wearing an ankle bracelet, possibly for a week, two weeks, or at most a month.
&#8220;The Secret Service and the U.S. Marshals are not going to let the former president of United States go to jail,&#8221; he said.
The trial outcome is a total and complete non-event for the campaign, Scaramucci said. He added that, in reality, the trial itself has marginally helped Trump in fundraising, as the former president has appealed for finances by portraying himself as a victim and stating that &#8220;they are using the criminal procedure system to attack me as a form of war in a presidential political campaign.&#8221;
Scaramucci said he sees an increased possibility of a hung jury in the case. 
&#8220;The most likely scenario is that we have a hung jury. There&#8217;s one &#8216;Make America Great Again&#8217; passionate Trump cult that&#8217;s not going to budge on the jury and the jury is hung,&#8221; he said.
Scaramucci also said the country has the attention span of a &#8220;fruit fly.&#8221; 
&#8216;It&#8217;s going to be way in the rearview mirror and all the implications of that innocent or guilty, come Election Day,&#8221; he said of the trial.
See Also:<a href="https://www.benzinga.com/news/24/05/38907885/biden-vs-trump-a-slice-of-incumbents-2020-backers-are-poised-to-defect-but-will-it-matter-for-his-re"> Biden Vs. Trump: A Slice Of Incumbent&#8217;s 2020 Backers Are Poised To Defect, But Will It Matter For His Re-Election?</a>
Greater Threat: According to Scaramucci, Trump&#8217;s fixer Cohen won&#8217;t be the one who does the most damage.
&#8220;I think Mike Pence is going to be the guy that does the most damage,&#8221; he said.
&#8220;Mike Pence was told to use this cockamamie procedural thing at the Electoral College vote &#8230; Mike Pence was pushed by Trump to do something procedurally illegal to assert a cause for President Trump unconstitutionally to stay in power.&#8221;
Scaramucci noted that Pence didn&#8217;t want to do that, and there was a premeditated insurrection at the Capitol, with violence occurring at the steps of — and inside — the building. The former vice president felt like his life was threatened by Trump supporters, he added.
&#8220;There are two Michaels here Michael Cohen and Michael Pence, Mike Pence is going to do more damage to Donald Trump,&#8221; he said. 
Scaramucci also noted that Pence has since denounced Trump, stating that under no circumstances would <a href="https://www.benzinga.com/news/24/03/37764902/no-surprise-former-trump-ally-refuses-to-endorse-ex-president-in-2024-cites-differences-in-conservat">he endorse the former president</a>. Additionally, the former vice president has reportedly rallied 40 people who worked closely with Trump in his inner circle, according to Scaramucci.
&#8220;Mike Pence will be the ring leader of those people to explain the danger of Donald Trump. So this mistake of Trump by being asymmetrically loyal, expecting loyalty one way, dishing and transacting with everybody negatively if they&#8217;re not in the moment going 13 for 10 for Donald Trump, this wreckage is going to come back to haunt him come November,&#8221; Scaramucci said.
Read Next: <a href="https://www.benzinga.com/money/how-to-invest-in-startups">How To Invest In Startups</a>
Photo: Shutterstock

Trump Faces Greater Threat Not From Michael Cohen, But From This Person, Says Scaramucci: 'This Wreckage Is Going To Come Back To Haunt Him Come November'

While new players in the league and players on new rosters will be key storylines for the 2024 NFL season, another top story will be the Kansas City Chiefs attempting to be the first NFL team to win<a href="https://www.benzinga.com/general/entertainment/24/02/37080383/three-peat-super-bowl-lix-odds-kansas-city-chiefs-back-to-back-to-back-payout"> three straight Super Bowls.</a>
What Happened: The NFL released its 2024 schedule on Wednesday, which includes primetime television games and two new games on Christmas Day through a <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38872340/netflixs-nfl-games-through-2026-set-to-drive-explosive-subscriber-ad-revenue-growth">new media partnership</a> with Netflix Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>).
Here's a look at how media companies could win big with the 2024 NFL season.
Netflix came away as a winner, gaining rights to NFL games for the first time. The company will stream two games on Christmas Day, including an early game between the Kansas City Chiefs and Pittsburgh Steelers and a later game between the Baltimore Ravens and Houston Texans. All four of these teams made the playoffs in the 2023 NFL season.
Comcast Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMCSA#NASDAQ">CMCSA</a>) is in for a <a href="https://www.benzinga.com/general/sports/24/04/38206524/peacocks-friday-night-football-exclusive-eagles-packers-streaming-nfl-game-could-be-a-touchdown-fo">busy week to start</a> the 2024 NFL season. The company will air Thursday Night Football in Week 1, featuring a major AFC Championship Game rematch between the Ravens and Chiefs. Comcast will exclusively stream a Week 1 Friday game between the Green Bay Packers and Philadelphia Eagles in Brazil. It will also air Sunday Night Football featuring a 2023 playoffs rematch between the Los Angeles Rams and Detroit Lions.
In the 2023 NFL playoffs, Comcast exclusively streamed a game on Peacock between the Chiefs and Miami Dolphins, which was watched by an average of 23 million viewers, setting new livestreaming records.
Fox Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FOX#NASDAQ">FOX</a>)(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FOXA#NASDAQ">FOXA</a>) could get a boost during the 2024 NFL season and not just because it will be broadcasting Super Bowl LIX. The media company will welcome NFL great Tom Brady to <a href="https://www.benzinga.com/general/entertainment/22/05/27116046/tom-brady-has-plans-for-when-he-eventually-retires-join-fox-sports">the broadcast booth</a>. Brady will be on duty for the Dallas Cowboys and Cleveland Browns Week 1 matchup at 4:25 p.m. ET. Fox will also air a rematch between the San Francisco 49ers and Chiefs on Oct. 20 in a 4:25 p.m. ET game.
Amazon.com Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) has seen success with its rights to to air Thursday Night Football and has a full slate of games for the 2024 season. The company also has a Black Friday exclusive streaming game for the second straight season, featuring the Las Vegas Raiders and Chiefs on Nov. 29.
The Walt Disney Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>) has rights to air Monday Night Football and will air a key matchup in Week 1 between the New York Jets at 49ers. The Jets are set to welcome back quarterback Aaron Rodgers, who was hurt in the first game of the previous season.
In 2023, 45 of the most watched primetime telecasts were NFL games, according to <a href="https://variety.com/2023/tv/news/most-watched-shows-2023-ncis-oscars-blue-bloods-super-bowl-yellowstone-1235854795/">Variety</a>. Outside of the Super Bowl and NFL playoffs, which ranked as the top five games, Comcast led with games ranked 6, 7, 8, 9 and 10.
The Jets, 49ers and Cowboys lead the way with six primetime matchups each, followed by the Chiefs, Buffalo Bills, Packers, Lions, Cincinnati Bengals, Ravens, Eagles, Dolphins and Rams at five games each.
Related Link: <a href="https://www.benzinga.com/general/sports/24/05/38710804/nfl-rule-could-open-door-for-big-money-investors-will-your-team-go-up-for-sale">NFL Rule Could Open Door For Big Money Investors: Will Your Team Go Up For Sale?</a>
Taylor Swift Impact: The Chiefs saw a boost in viewership during the 2023 NFL season, possibly due to Taylor Swift attending several games to watch her boyfriend, Chiefs' tight end Travis Kelce.
According to a report from <a href="https://www.espn.com/nfl/story/_/id/40158736/2024-nfl-schedule-details-taylor-swift-kansas-city-chiefs-travis-kelce-dallas-cowboys-philadelphia-eagles">ESPN</a>, the NFL considered Swift's Eras Tour when making the 2024 schedule. The news comes with a catch though, as three NFL stadiums are hosting nine shows during the tour, which makes it impossible for the Dolphins, New Orleans Saints and Indianapolis Colts to be home during certain weeks of the season.
The league said that, outside of those cities and dates, it didn't consider the tour. This includes the Chiefs playing at Buffalo on Nov. 17, when Swift plays 111 miles away in Toronto. Swift plays six Toronto shows between Nov. 14 and Nov. 23 and does not play on Nov. 17.
"We certainly considered the tour dates that hit NFL stadiums," NFL VP of Broadcast Planning Mike North said. "One thing we didn't consider, I saw a lot of conspiracy theorists talking about Kansas City at Buffalo in the middle of the season, right when Taylor's playing Toronto. That one definitely did not hit our radar screen."
Betting Odds: The schedule&#8217;s release often doesn't have a huge impact on the overall betting favorites to win the Super Bowl but can sometimes impact win/loss totals. Here are the current betting odds for Super Bowl LIX (59) from sportsbook DraftKings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DKNG#NASDAQ">DKNG</a>), with the odds from February in parentheses.
Kansas City Chiefs: +550 (+650)
San Francisco 49ers: +600 (+550)
Baltimore Ravens: +900 (+900)
Detroit Lions: +1,200 (+1,200)
Buffalo Bills: +1,200 (+1,000)
Cincinnati Bengals: +1,300 (+1,300)
Houston Texans: +1,600 (+2,200)
Philadelphia Eagles: +1,700 (+2,000)
Dallas Cowboys: +1,700 (+2,000)
Green Bay Packers: +1,900 (+2,000)
The Chiefs are now the betting favorites to win a third straight Super Bowl, followed closely by the 49ers. The Dolphins fell out of the top 10 in Super Bowl odds after being ranked seventh in February. The odds for the Texans and Eagles improved thanks to key free agent signings.
Week 1 betting lines are out. The early games see the Chiefs favored by three points against the Ravens and the Eagles favored by one point against the Packers. The Bengals are the biggest Week 1 favorite at -8.5 against the New England Patriots.
Read Next:<a href="https://www.benzinga.com/general/entertainment/24/05/38850110/netflix-to-stream-2-nfl-christmas-day-games-analyst-sees-strong-growth-potential"> Netflix To Stream 2 NFL Christmas Day Games: Analyst Sees Strong Growth Potential</a>
Photo: Shutterstock

Sports Betting

Sports

AMZN

CMCSA

DKNG

FOXA

NFLX

2024 NFL Schedule Unpacked: Media Partners Win, Taylor Swift Tour Dates Considered, New Betting Odds And More

The week has been a whirlwind of economic and political developments. From the White House&#8217;s stance on Chinese tariffs to a bold proposal to abolish the Federal Reserve, the news cycle has been anything but dull. Meanwhile, metals hit record highs, JPMorgan&#8217;s CEO warns of inflation, and US inflation data comes in as expected. Here&#8217;s a recap of the top stories.
Biden&#8217;s Economic Advisor Advocates for Tariffs on Chinese Goods
White House National Economic Advisor, Lael Brainard, has stated that President Joe Biden&#8217;s tariffs on Chinese imports are a response to China&#8217;s economic practices. Brainard, during a Reuters podcast episode, explained that these tariffs are specifically aimed at sectors where the U.S. has made significant legislative investments, such as solar energy and battery storage. The goal is to ensure fair competition and protect domestic industries from China&#8217;s export dumping. &#8220;And what is important is unless we enforce our trade laws against China, we would actually not be able to compete on a level playing field,&#8221; Brainard added. <a href="https://www.benzinga.com/government/24/05/38847469/bidens-economic-advisor-says-china-is-not-playing-by-the-rules-so-tariffs-on-goods-needed-to-ensure">Read the full article here.</a>
Thomas Massie Introduces &#8216;End the Fed&#8217; Bill
Rep. Thomas Massie (R-Ky.) has introduced a bill aimed at abolishing the Federal Reserve. The bill, known as the Federal Reserve Board Abolition Act, HR 8421, was announced following a poll of his followers on X, formerly Twitter. Massie stated, "Americans would be better off if the Federal Reserve did not exist. The Fed devalues our currency by monetizing the debt, causing inflation." <a href="https://www.benzinga.com/news/24/05/38887597/marjorie-taylor-greene-ally-thomas-massie-introduces-end-the-fed-bill-to-abolish-the-us-central-bank">Read the full article here.</a>
See Also: <a href="https://www.benzinga.com/markets/asia/24/05/38837883/teslas-top-rival-byd-reveals-starting-price-of-hybrid-electric-pickup-in-mexico-launch-yes-its-a-lot?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Tesla&#8217;s Top Rival BYD Reveals Starting Price Of Hybrid Electric Pickup In Mexico Launch — Yes, It&#8217;s A Lot</a>
Metal Commodities Hit Record Highs
Friday marked one of the strongest days for metal commodities in recent years. Gold climbed over 1.7% toward a record-high close above $2,400 per ounce, silver surged more than 6% to its highest level since February 2013, and copper hit an all-time high. This surge was driven by diminishing inflation fears and news of a broad-based Chinese stimulus to support the struggling real estate sector. <a href="https://www.benzinga.com/economics/macro-economic-events/24/05/38901984/silver-rockets-to-11-year-highs-copper-hits-record-peak-gold-approaches-historic-">Read the full article here.</a>
Jamie Dimon Warns of Inflationary Forces
Jamie Dimon, the CEO of JPMorgan Chase &amp; Co, has voiced concerns about the persistent inflationary pressures in the U.S. economy. He suggests that these pressures may lead to a prolonged period of higher interest rates than what investors anticipate. Dimon highlighted various factors contributing to the ongoing inflation, including costs associated with the green economy, re-militarization, infrastructure spending, and substantial fiscal deficits. <a href="https://www.benzinga.com/news/24/05/38889820/jpmorgans-jamie-dimon-warns-of-a-lot-of-inflationary-forces-ahead-predicts-higher-interest-rates">Read the full article here.</a>
US Inflation Data Comes in As Expected
U.S. inflation data for April came in broadly in line with analyst estimates Wednesday, breaking a concerning three-month streak of higher-than-expected readings and reigniting hopes for a return to the Federal Reserve's 2% inflation target. Last month, the Consumer Price Index (CPI) showed a year-over-year increase of 3.4%. <a href="https://www.benzinga.com/markets/equities/24/05/38842603/us-inflation-falls-as-expected-in-april-bolsters-fed-rate-cut-bets">Read the full article here.</a>
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38907049/former-trump-ally-anthony-scaramucci-foresees-more-pension-funds-investing-in-bitcoin-we-a?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Former Trump Ally Anthony Scaramucci Foresees More Pension Funds Investing In Bitcoin: &#8216;We Are Still Earl</a>
Photo courtesy: Shutterstock
<div style="font-family: 'Lato', sans-serif">
<hr style="border: 0;height: 5px;background: #225aa9" />
<div style="background-color: #f5f5f5;background-position: center;background-size: cover;justify-content: center"></div>

 Engineered by 
 Benzinga Neuro, Edited by 
 
 <a href="None" target="_blank" rel="noopener" style="color: #225aa9;text-decoration: none"> 
 Rounak Jain</a> 
 
 
<hr style="border: 0;height: 1px;background: #225aa9" />

 The GPT-4-based Benzinga Neuro content generation system exploits the 
 extensive Benzinga Ecosystem, including native data, APIs, and more to 
 create comprehensive and timely stories for you. 
 <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noopener" style="color: #225aa9;text-decoration: none">Learn more.</a>
 
<hr style="border: 0;height: 5px;background: #225aa9" />
 </div>

Economics

Biden Advisor Defends China Tariffs, Silver Hits 11-Year High, Jamie Dimon Warns Of Inflationary Forces: Top Economic News This Week

The week was chock-full of news from Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>). From innovative accessibility features to labor strikes and potential partnerships, Apple made headlines on multiple fronts. Here&#8217;s a quick roundup of the top stories.
Apple Unveils Ability To Control iPhones Using Eyes Apple&#8217;s CEO, Tim Cook, announced a revolutionary set of accessibility features that will allow users to control their iPhones and iPads using their eyes. This eye-tracking feature, which leverages artificial intelligence, is designed to assist individuals with physical disabilities in navigating iOS and iPadOS more easily. The new features are slated for integration into iOS and iPadOS 18, with the official release date set for later this year. <a href="https://www.benzinga.com/news/24/05/38887887/tim-cook-touts-powerful-new-features-as-apple-introduces-ways-for-users-to-control-iphones-by-simply">Read the full article here.</a>
Apple Store Workers in Maryland Vote to Strike Apple store employees in Maryland have voted in favor of a strike, citing unsatisfactory working conditions. The workers, who unionized two years ago, have been in unproductive negotiations with Apple management for a year. The strike sanction vote was announced on Saturday, but a specific strike date has not been set. <a href="https://www.benzinga.com/news/24/05/38782125/apple-store-workers-in-maryland-vote-in-favor-of-strike-over-working-conditions-new-jersey-against-u">Read the full article here.</a>
See Also: <a href="https://www.benzinga.com/news/24/05/38887887/tim-cook-touts-powerful-new-features-as-apple-introduces-ways-for-users-to-control-iphones-by-simply?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Tim Cook Touts &#8216;Powerful New Features&#8217; As Apple Introduces Ways For Users To Control iPhones By Simply Mo</a>
Apple&#8217;s Siri To Get a Major Upgrade Apple is reportedly close to partnering with OpenAI, a move that has excited Gene Munster of Deepwater Asset Management. Munster believes that integrating Microsoft Corp.-backed OpenAI&#8217;s ChatGPT on the iPhone will be the &#8220;biggest upgrade in Siri&#8217;s 13-year history.&#8221; <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38782396/biggest-upgrade-in-siris-13-year-history-top-analyst-strikes-bullish-note-on-apple-">Read the full article here.</a>
Apple&#8217;s Potential OpenAI Partnership Could Boost Revenue Apple is on the verge of finalizing a partnership with OpenAI that could introduce significant AI features to its devices. According to Wedbush&#8217;s Dan Ives, this partnership could open up AI revenue opportunities for Apple. The deal is expected to be officially announced at the Worldwide Developers Conference (WWDC) on June 10. <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38788422/apples-potential-partnership-with-openai-opens-up-revenue-opportunities-says-tech-b">Read the full article here.</a>
New iPad Pro Fails Durability Test Apple&#8217;s latest iPad Pro, touted by Tim Cook as the &#8220;thinnest Apple product ever,&#8221; has faced criticism for its thin design. Despite improvements to its structural integrity, the new iPad Pro failed an extreme bend test conducted by popular tech YouTubers JerryRigEverything and AppleTrack. <a href="https://www.benzinga.com/news/24/05/38867599/tim-cook-hyped-thinnest-apple-product-ever-at-recent-ipad-event-but-cupertinos-newest-gadget-flunks">Read the full article here.</a>
Read Next: <a href="https://www.benzinga.com/news/24/05/38789719/beating-us-sanctions-chinese-scientists-achieve-mass-production-of-optical-chips-at-low-cost?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Beating US Sanctions, Chinese Scientists Achieve Mass Production Of Optical Chips At Low Cost</a>
Photo via Shutterstock
<div style="font-family: 'Lato', sans-serif">
<hr style="border: 0;height: 5px;background: #225aa9" />
<div style="background-color: #f5f5f5;background-position: center;background-size: cover;justify-content: center"></div>

 Engineered by 
 Benzinga Neuro, Edited by 
 
 <a href="None" target="_blank" rel="noopener" style="color: #225aa9;text-decoration: none"> 
 Rounak Jain</a> 
 
 
<hr style="border: 0;height: 1px;background: #225aa9" />

 The GPT-4-based Benzinga Neuro content generation system exploits the 
 extensive Benzinga Ecosystem, including native data, APIs, and more to 
 create comprehensive and timely stories for you. 
 <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noopener" style="color: #225aa9;text-decoration: none">Learn more.</a>
 
<hr style="border: 0;height: 5px;background: #225aa9" />
 </div>

Apple's Eye-Controlled iPhones, Siri's Upgrade And More: A Recap Of Week's Top Stories In Appleverse

The week was a whirlwind of political and corporate news. From Chuck Schumer calling on the FTC to reconsider a major oil merger, to Donald Trump&#8216;s niece sharing her thoughts on her uncle&#8217;s legal woes, the news cycle was anything but dull. Let&#8217;s dive into the top stories.
1. Schumer Urges FTC to Reconsider Chevron-Hess Merger
U.S. Senate Majority Leader, Chuck Schumer (D-N.Y.), has urged the Federal Trade Commission (FTC) to reassess the proposed $53 billion merger between Chevron Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>) and Hess Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HES#NYSE">HES</a>). Schumer expressed his concerns via social media, warning that the merger could enable oil giants to hike gas prices. <a href="https://www.benzinga.com/government/24/05/38781945/chuck-schumer-says-trump-might-be-hosting-dinners-for-big-oil-execs-but-ftc-should-side-with-consume">Read the full article here.</a>
2. Trump&#8217;s Niece Weighs in on His Legal Troubles
Mary Trump, the niece of former President Donald Trump, shared her perspective on her uncle&#8217;s legal issues, particularly the New York hush-money criminal case. In an MSNBC interview, she suggested that Trump&#8217;s loyalty is one-sided and that he could betray anyone at will. <a href="https://www.benzinga.com/news/24/05/38865977/trumps-niece-finds-it-absolutely-horrifying-that-congress-members-say-most-egregious-things-to-under">Read the full article here.</a>
See Also: <a href="https://www.benzinga.com/news/24/05/38908073/trump-vs-biden-poll-reveals-surprise-preference-for-one-candidate-over-other-when-it-comes-to-econom?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Vs Biden: Poll Reveals Surprise Preference For One Candidate Over Other When It Comes To Economy</a>
3. Pelosi Advises Against Debating with Trump
Former House Speaker Nancy Pelosi (D-Calif.) has voiced her disapproval of President Joe Biden debating with former President Donald Trump. Pelosi cited Trump&#8217;s past debate behavior as the reason for her stance. <a href="https://www.benzinga.com/news/24/05/38862303/nancy-pelosi-on-upcoming-presidential-debate-i-would-never-recommend-going-on-stage-with-donald-trum">Read the full article here.</a>
4. Airlines Sue Biden Administration Over New Fee Regulations
Major airlines, including Delta Air Lines (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DAL#NYSE">DAL</a>), American Airlines (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAL#NASDAQ">AAL</a>), and Alaska Airlines (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALK#NYSE">ALK</a>), have filed a lawsuit against a new rule requiring them to disclose additional fees upfront. The move has drawn a strong reaction from Transportation Secretary Pete Buttigieg. <a href="https://www.benzinga.com/news/24/05/38833901/pete-buttigieg-left-speechless-after-airlines-sue-biden-administration-over-new-fees-regulations">Read the full article here.</a>
5. Scaramucci Discusses Trump&#8217;s Legal Situation
Former White House Communications Director Anthony Scaramucci shared his thoughts on Donald Trump's hush-money case trial and the testimony of star witness Michael Cohen. Scaramucci criticized Trump for not taking care of his &#8220;made&#8221; guys, likening the situation to the relationship between Sammy Gravano and John Gotti. <a href="https://www.benzinga.com/news/24/05/38836381/anthony-scaramucci-says-trump-may-campaign-with-ankle-bracelet-from-mar-a-lago-as-former-white-house">Read the full article here.</a>
Read Next: <a href="https://www.benzinga.com/news/24/05/38907693/trumps-niece-says-its-insane-to-put-ex-president-back-in-oval-office-worst-candidate-in-american-his?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump&#8217;s Niece Says It&#8217;s Insane To Put Ex-President Back In Oval Office: &#8216;Worst Candidate In American Hist</a>
Image made using photos on Shutterstock
<div style="font-family: 'Lato', sans-serif">
<hr style="border: 0;height: 5px;background: #225aa9" />
<div style="background-color: #f5f5f5;background-position: center;background-size: cover;justify-content: center"></div>

 Engineered by 
 Benzinga Neuro, Edited by 
 
 <a href="None" target="_blank" rel="noopener" style="color: #225aa9;text-decoration: none"> 
 Anan Ashraf</a> 
 
 
<hr style="border: 0;height: 1px;background: #225aa9" />

 The GPT-4-based Benzinga Neuro content generation system exploits the 
 extensive Benzinga Ecosystem, including native data, APIs, and more to 
 create comprehensive and timely stories for you. 
 <a href="https://www.benzinga.com/author/anan-ashraf" target="_blank" rel="noopener" style="color: #225aa9;text-decoration: none">Learn more.</a>
 
<hr style="border: 0;height: 5px;background: #225aa9" />
 </div>

Trump's Niece Weighs In On Ex-President's Legal Troubles, Chuck Schumer Urges FTC To Reconsider Chevron-Hess Merger And More: Top Political Updates This Week

Talks of an economic recession have been <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38219988/economists-warn-feds-inflation-battle-could-trigger-recession-have-to-increase-the-">doing the rounds</a> over the past few months, thanks in part to the U.S. Federal Reserve's rate action. But there are many ways to survive and thrive in a recession, too. Who better to take that advice from than the Oracle of Omaha, Warren Buffett?
Here are the five things Buffett says you need to do before a recession hits.
<h2 class="wp-block-heading">1. Shore Up Liquidity</h2>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="576" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/16132926/Buffett-1-Unsplash-1024x576.jpg" alt="" class="wp-image-342035" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/16132926/Buffett-1-Unsplash-1024x576.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/16132926/Buffett-1-Unsplash-300x169.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/16132926/Buffett-1-Unsplash-768x432.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/16132926/Buffett-1-Unsplash-1536x864.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/16132926/Buffett-1-Unsplash.jpg 1794w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Representative image of savings &#x7C; Image courtesy: Unsplash</figcaption></figure>
The first thing you need to do while preparing for an economic recession is to shore up as much liquidity as possible. Keeping cash in your hand empowers you to make decisions beneficial for you, instead of being forced by forces beyond your control.
&#8220;We&#8217;ve got to keep plenty of cash on hand so that people are going to keep making intelligent decisions rather than those forced upon them," he said in a CNBC interview.
<h3 class="wp-block-heading">2. Invest In Blue Chip Stocks</h3>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="585" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/16133002/Buffett-2-1-1024x585.jpg" alt="" class="wp-image-342036" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/16133002/Buffett-2-1-1024x585.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/16133002/Buffett-2-1-300x171.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/16133002/Buffett-2-1-768x439.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/16133002/Buffett-2-1-1536x878.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/16133002/Buffett-2-1.jpg 1792w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Representative image of big companies&#8217; offices &#x7C; Image generated using Dall-E</figcaption></figure>
Blue chip stocks are among the safer options when it comes to the equity market, and Buffett thinks big companies can be a safe destination for investment.
"Most major companies will be setting new profit records 5, 10, and 20 years from now," he <a href="https://www.nytimes.com/2008/10/17/opinion/17buffett.html">wrote</a> in a 2008 opinion piece.
<h3 class="wp-block-heading">3. Maintain A Long-Term Outlook</h3>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="585" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/16133033/Buffett-3-1-1024x585.jpg" alt="" class="wp-image-342038" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/16133033/Buffett-3-1-1024x585.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/16133033/Buffett-3-1-300x171.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/16133033/Buffett-3-1-768x439.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/16133033/Buffett-3-1-1536x878.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/16133033/Buffett-3-1.jpg 1792w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Representative image of a long path &#x7C; Image generated using Dall-E</figcaption></figure>
Recessions can last for a few months, so short-term plans won't work in this case. While some recessions can be longer than others, they are temporary. So, if your investments decline in value, don't worry and maintain a long-term outlook. You will eventually come out ahead.
<h3 class="wp-block-heading">4. Don't Get Flustered, Stick To Your Plan</h3>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="585" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/16133051/Buffett-4-1-1024x585.jpg" alt="" class="wp-image-342039" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/16133051/Buffett-4-1-1024x585.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/16133051/Buffett-4-1-300x171.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/16133051/Buffett-4-1-768x439.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/16133051/Buffett-4-1-1536x878.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/16133051/Buffett-4-1.jpg 1792w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Representative image of a person sticking to the plan &#x7C; Image generated using Dall-E</figcaption></figure>
One of Buffett's famous quips is that he will buy businesses at a "decent price," where he adopts a "business-as-usual" approach.
"We just wanna buy good businesses run by people we like and trust and at a decent price. And we'll keep doing that," he <a href="https://www.cnbc.com/2023/04/12/full-transcript-berkshire-hathaway-chairman-ceo-warren-buffett-speaks-with-cnbcs-becky-quick-on-squawk-box-today-.html">told</a> CNBC.
<h3 class="wp-block-heading">5. Don't Put All Your Money In No-Growth Assets</h3>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="585" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/16133109/Buffett-5-1-1024x585.jpg" alt="" class="wp-image-342041" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/16133109/Buffett-5-1-1024x585.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/16133109/Buffett-5-1-300x171.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/16133109/Buffett-5-1-768x439.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/16133109/Buffett-5-1-1536x878.jpg 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/16133109/Buffett-5-1.jpg 1792w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Representative image of assets &#x7C; Image generated using Dall-E</figcaption></figure>
It could be tempting to invest your money into risk-free assets like savings accounts and deposits, where it will either not see much growth or the growth will be less than the inflation rate.
"Equities will almost certainly outperform cash over the next decade, probably by a substantial degree," said Buffett.
Photo courtesy: Shutterstock

Success Stories

Personal Finance

5 Things Warren Buffett Says You Need To Do Before Recession Hits

It&#8217;s been a whirlwind of a week in the world of artificial intelligence, with OpenAI stealing the limelight. The AI firm introduced a groundbreaking version of its AI model, GPT-4o, and saw the departure of key personnel. Meanwhile, Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) is urging its China-based AI team to relocate amid escalating tech tensions. Let&#8217;s delve into the major stories of the week.
OpenAI Unveils GPT-4o
OpenAI introduced GPT-4o, a more efficient and cost-effective version of its AI model, GPT-4. This new model, trained on extensive internet data, is designed to handle text, audio, and images in real-time more effectively. It can respond to verbal questions with audio replies in milliseconds and offers features previously limited to paid subscribers. <a href="https://www.benzinga.com/news/24/05/38806086/openai-tries-to-steal-googles-thunder-a-day-before-search-giants-event-unveils-gpt-4o-a-chatgpt-vers">Read the full article here.</a>
OpenAI&#8217;s GPT-4o: Changing the AI Chatbot Game
The AI startup showcased GPT-4o&#8217;s capabilities, which combine text, vision, and audio for the first time. The updated version demonstrated real-time voice translation, the ability to change emotions during a conversation, and making meeting notes with multiple speakers, among other features. <a href="https://www.benzinga.com/news/24/05/38809935/openai-just-dropped-gpt-4o-and-these-10-examples-show-it-could-completely-change-ai-chatbot-game">Read the full article here.</a>
See Also: <a href="https://www.benzinga.com/news/24/05/38863467/samsungs-uncrush-ad-mocking-apple-invites-barrage-of-criticism-online-you-think-this-will-make-peopl?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Samsung&#8217;s &#8216;UnCrush&#8217; Ad Mocking Apple Invites Barrage Of Criticism Online</a>
Microsoft Urges AI Team Relocation Amid Tech Tensions
Microsoft Corp. has requested hundreds of its China-based employees to consider relocating amid escalating technological tensions between the U.S. and China. The company extended relocation offers to around 700 to 800 staff members, primarily engineers of Chinese nationality. <a href="https://www.benzinga.com/markets/equities/24/05/38863932/microsoft-urges-china-based-ai-team-employees-to-relocate-amid-escalating-tech-tensions-between-">Read the full article here.</a>
OpenAI&#8217;s Key Resignations: A &#8216;Very Sad&#8217; Development
OpenAI&#8217;s Chief Scientist Ilya Sutskever announced his departure from the company after nearly a decade. This development comes after a series of significant events at the AI giant. <a href="https://www.benzinga.com/news/24/05/38834519/openai-chief-scientist-ilya-sutskever-steps-down-ceo-sam-altman-calls-him-a-guiding-light-of-ai-fiel">Read the full article here.</a>
Elon Musk&#8217;s High Regard for Ilya Sutskever
Tesla Inc. CEO and xAI founder Elon Musk recalled how he holds former OpenAI chief scientist Ilya Sutskever in such high regard that he broke his friendship with Alphabet Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) co-founder Larry Page over it. <a href="https://www.benzinga.com/news/24/05/38849496/elon-musk-recalls-breaking-friendship-with-googles-larry-page-over-ilya-sutskever-linchpin-for-opena">Read the full article here.</a>
Read Next: <a href="https://www.benzinga.com/markets/equities/24/05/38866615/jim-cramer-greets-gamestop-sellers-as-stock-nosedives-over-16-in-premarket-hours-top-of-the-morn?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Jim Cramer Greets GameStop Sellers As Stock Nosedives Over 16% In Premarket Hours</a>
Photo courtesy: Shutterstock
<div style="font-family: 'Lato', sans-serif">
<hr style="border: 0;height: 5px;background: #225aa9" />
<div style="background-color: #f5f5f5;background-position: center;background-size: cover;justify-content: center"></div>

 Engineered by 
 Benzinga Neuro, Edited by 
 
 <a href="None" target="_blank" rel="noopener" style="color: #225aa9;text-decoration: none"> 
 Rounak Jain</a> 
 
 
<hr style="border: 0;height: 1px;background: #225aa9" />

 The GPT-4-based Benzinga Neuro content generation system exploits the 
 extensive Benzinga Ecosystem, including native data, APIs, and more to 
 create comprehensive and timely stories for you. 
 <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noopener" style="color: #225aa9;text-decoration: none">Learn more.</a>
 
<hr style="border: 0;height: 5px;background: #225aa9" />
 </div>

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Government Trades

Janus Henderson Mortgage-Backed Securities ETF

top performing JMBS trades