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( MENAFN ) President-elect Donald Trump's social media stock had been rapidly declining following a brief post-election rise this week. Then, with a single post on Truth Social, he helped increase the stock again, increasing his net worth by half a billion dollars. At Fridays market start, shares of trump Media and Technology Group had plunged 42 percent from their previous high immediately after Wednesdays open, in what appeared to be a classic "buy the rumor and sell the news" strategy. Traders frequently acquire a stock in anticipation of a beneficial occurrence for a company, and then sell to benefit from their investment. After that, 30 minutes into trading Friday, when shares declined again, Trump shared a Truth Social post about the firm’s stock: “There are fake, untrue, and probably illegal rumors and/or statements made by, perhaps, market manipulators or short sellers, that I am interested in selling shares of Truth. THOSE RUMORS OR STATEMENTS ARE FALSE. I HAVE NO INTENTION OF SELLING!” MENAFN14122024000045016953ID1108992987 Legal Disclaimer: MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.
Dave Hyde: Time for Dolphins to shed ugly narratives in Green Bay — or be buried by them againOMAHA, Neb. (AP) — Investor Warren Buffett renewed his Thanksgiving tradition of giving by handing out more than $1.1 billion of Berkshire Hathaway stock to four of his family's foundations Monday, and he offered new details about who will be handing out the rest of his fortune after his death. Buffett has said previously that his three kids will distribute his remaining $147.4 billion fortune in the 10 years after his death, but now he has also designated successors for them because it's possible that Buffett's children could die before giving it all away. He didn't identify the successors, but said his kids all know them and agree they would be good choices. “Father time always wins. But he can be fickle – indeed unfair and even cruel – sometimes ending life at birth or soon thereafter while, at other times, waiting a century or so before paying a visit,” the 94-year-old Buffett said in a letter to his fellow shareholders Monday. “To date, I’ve been very lucky, but, before long, he will get around to me. There is, however, a downside to my good fortune in avoiding his notice. The expected life span of my children has materially diminished since the 2006 pledge. They are now 71, 69 and 66.” Buffett said he still has no interest in creating dynastic wealth in his family — a view shared by his first and current wives. He acknowledged giving Howard, Peter and Susie millions over the years, but he has long said he believes “hugely wealthy parents should leave their children enough so they can do anything but not enough that they can do nothing.” The secret to building up such massive wealth over time has been the power of compounding interest and the steady growth of the Berkshire conglomerate Buffett leads through acquisitions and smart investments like buying billions of dollars of Apple shares as iPhone sales continued to drive growth in that company. Buffett never sold any of his Berkshire stock over the years and also resisted the trappings of wealth and never indulged in much — preferring instead to continue living in the same Omaha home he'd bought decades earlier and drive sensible luxury sedans about 20 blocks to work each day. “As a family, we have had everything we needed or simply liked, but we have not sought enjoyment from the fact that others craved what we had,” he said. If Buffett and his first wife had never given away any of their Berkshire shares, the family's fortune would be worth nearly $364 billion — easily making him the world's richest man — but Buffett said he had no regrets about his giving over the years. The family's giving began in earnest with the distribution of Susan Buffett's $3 billion estate after her death in 2004, but really took off when Warren Buffett announced plans in 2006 to make annual gifts to the foundations run by his kids along with the one he and his wife started, as well as the Bill & Melinda Gates Foundation. Warren Buffett's giving to date has favored the Gates Foundation with $55 billion in stock because his friend Bill Gates already had his foundation set up and could handle huge gifts when Buffett started giving away his fortune. But Buffett has said his kids now have enough experience in philanthropy to handle the task and he plans to cut off his Gates Foundation donations after his death. Buffett always makes his main annual gifts to all five foundations every summer, but for several years now he has been giving additional Berkshire shares to his family's foundations at Thanksgiving. Buffett reiterated Monday his advice to every parent to allow their families to read their will while they are still alive — like he has done — to make sure they have a chance to explain their decisions about how to distribute their belongings and answer their children's questions. Buffett said he and his longtime investing partner Charlie Munger, who died a year ago, “saw many families driven apart after the posthumous dictates of the will left beneficiaries confused and sometimes angry.” Today, Buffett continues to lead Berkshire Hathaway as chairman and CEO and has no plans to retire although he has handed over most of the day-to-day managing duties for the conglomerates dozens of companies to others. That allows him to focus on his favorite activity of deciding where to invest Berkshire's billions . One of Buffett's deputies who oversees all the noninsurance companies now, Greg Abel, is set to take over as CEO after Buffett's death. Even after converting 1,600 Class A shares into 2.4 million Class B Berkshire shares and giving them away, Buffett still owns 206,363 Class A shares and controls more than 30% of the vote.Long-term investments in cryptocurrency often offer the most transformative financial opportunities. Unlike short-term trades, holding strong altcoins allows investors to ride the waves of market volatility and capitalize on sustained growth. With blockchain technology evolving rapidly, certain projects are poised to deliver exceptional long-term returns. Among these are Lightchain AI , Chainlink (LINK), and Arbitrum (ARB)—altcoins redefining the future of blockchain and paving the way for unprecedented profitability. 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Investors recognize the token as more than just a speculative asset; it’s a long-term solution addressing real-world challenges, making it a standout choice for building sustained wealth. Chainlink (LINK) Bridging Smart Contracts with Real-World Applications Chainlink (LINK) has long been celebrated for its role in bridging the gap between blockchain networks and real-world data. Through its decentralized oracle network, Chainlink enables smart contracts to securely interact with off-chain data sources, APIs, and payment systems. This functionality has positioned Chainlink as an essential component of the DeFi ecosystem, facilitating innovative applications such as decentralized lending, insurance, and asset management. Its partnerships with leading enterprises and blockchains have further strengthened its market position. Looking ahead, Chainlink’s emphasis on interoperability and secure data transfer ensures its continued relevance. 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The ARB token powers this ecosystem, facilitating governance and incentivizing network participation. As Ethereum’s scalability challenges persist, the demand for solutions like Arbitrum will only grow, making it an essential addition to a long-term crypto portfolio. Key Factors to Consider for Long-Term Crypto Investments When selecting altcoins for long-term profitability, investors should evaluate several critical factors: 1. Utility and Real-World Applications Altcoins with practical use cases, like Lightchain AI’s AI integration or Chainlink’s oracle services, often have higher growth potential. 2. Technological Innovation Projects that introduce groundbreaking technologies, such as Arbitrum’s rollups or Lightchain AI’s PoI, stand a better chance of long-term success. 3. Market Position and Adoption Assessing a token’s ecosystem growth, partnerships, and community engagement can provide insights into its future performance. 4. 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Moreover, its sustainability approach through energy-efficient means appeals to the eco-conscious investors, making it stand out in a saturated market. These combined benefits make Lightchain AI stand out in the list of emerging cryptocurrencies, bringing innovative technology into tangible value. Building Wealth by Choosing the Right Altcoins Today Investment in the correct altcoins will bring out long-term returns that no one has ever experienced. Three of these include Lightchain AI , Chainlink, and Arbitrum, each one of them is different in terms of functionality but has an appeal to it, however, Lightchain AI, which is at the helm of integrating AI and blockchain in a manner that makes it the perfect contender for exponential growth. For those who want to get set up and ride the wave of blockchain innovation that would be next, the lightchain AI presale price comes at $0.003. These altcoins that have the potential of industry redefinition and can present transformative returns are more than mere investments; they are chances in shaping the future of technology. Lightchain AI Official Website Lightchain AI Whitepaper Join Lightchain AI Telegram Follow Lightchain AI on Twitter/X Join our WhatsApp Channel to get the latest news, exclusives and videos on WhatsApp _____________ Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.
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It’s a milestone for stoners. New York is set to hit the $1 billion mark in cannabis sales since the legal market launched two years ago, state officials tell The Post. “These numbers clearly indicate that New York is open for business. There’s strong momentum behind the market right now,” said John Kagia, policy director for the state’s Office of Cannabis Management. Pot sales hit $863.9 million as of last week — and they could top the billion-dollar mark by the end of December, regulators say. The state surpassed $500 million in sales in August. The market has ramped in recent months after a rocky rollout marred by lawsuits, a massive illegal market and enormous backlogs in the awarding of retail licenses issued by the often-criticized understaffed and overwhelmed OCM. The turmoil and hiccups delayed the state’s timeline to develop the new legal market for marijuana. Gov. Kathy Hochul ordered a management shake-up after a scathing report she commissioned in May issued blunt criticism of how the regulatory agency was run, and 64 new staffers were hired. OCM currently employs 213 full-time workers, said OCM rep Taylor Randi Lee. There are now 245 licensed retail weed outlets, up from 41 stores at the end of 2023. Retail sales of weed have generated $22 million in combined tax revenues for local governments, including $7.9 million to New York City, according to state Comptroller Tom DiNapoli’s office. More than $16.6 million in tax revenue from the pot business also flowed to the state treasury through June and is on pace to double last year’s total Kagia said beefed-up enforcement and the padlocking of illegal pot shops under a new law approved by Hochul and the state Legislature had a big and immediate impact on boosting the bottom line of licensed cannabis retailers. Sales more than doubled — soaring 105% — among cannabis retailers that were in business before “Operation Padlock” took place in the spring and afterward, a survey by OCM found. Hochul’s office claimed the pot market is now reaching new highs. “Thanks to Governor Hochul’s leadership, more than 1,000 illegal dispensaries have been shut down, and the legal market, nearing $1 billion in sales, is booming,” said Hochul spokesman Miguel Arreola. “Her policies have helped transform the industry, increase revenues for local businesses, and spur reinvestments in the communities most harmed by historical wrongs — all while building the most equitable cannabis market in the nation,” the Hochul rep added. But social-justice advocates complain that too few licenses have gone to operators in communities disproportionately impacted by the war on drugs when marijuana was considered a crime — 5% of those set aside for the “equity” market and 2.5% overall. Still, Kagia said, “Any kind of conclusion is entirely premature. We still have a huge number of licenses to issue.” He said the cannabis agency has instituted a better and more accountable licensing process, such as making a staffer ” a point of contact” responsible for handling an applicant or licensee. More staff is being added to reduce the backlog of applications, too, Kagia said. An analysis by LeafLink, an online platform where pot retailers buy their cannabis from wholesalers, said New York has turned the corner and is now an emerging market primed for growth. “It’s clear New York is moving past some of its initial challenges and is on the path to meeting the lofty expectations that surround this market,” said LeafLink Vice President for Policy Rodney Holcombe. “Similar to other new markets, more work needs to be done to make sure businesses have the environment and proper tools at their disposal to run their businesses efficiently.” New York can only go up. A recent study said it could support 1,000 new pot stores . The LeafLink report shows New York is a cellar-dweller compared to other states that have legalized cannabis. Oklahoma, for example, has 1,900 licensed pot shops. New York currently has 245. There’s also data on pot sales per resident: Alaska is tops with $350 per resident, and Michigan has sales of more than $300 per person. New York sales are under under $50 per resident, about half of even neighboring New Jersey — even though both states legalized pot around the same time. One Downtown Manhattan pot retailer said high times are ahead. “New York’s cannabis market is certainly beginning to take off, especially here in New York City where the appetite for regulated, high-quality products is growing in tandem with efforts to curb the illicit market,” said Vanessa Yee-Chan, owner and founder of Atta Dispensary at 52 Kenmare St., the first weed retailer to open in Chinatown. “Since our grand opening nearly two months ago, our customer base has consistently grown, and we’ve had to increase the frequency in which we place purchase orders for certain products to ensure we are keeping things in stock.”Iran says will hold nuclear talks with France, Germany, UK on Friday
GAINESVILLE, Fla. (AP) — Princely Umanmielen's return to the Swamp ended with a police escort . Umanmielen, who spent three years at Florida before transferring to Ole Miss, left the stadium with a number of officers surrounding him. And the defensive end still tried to get at heckling fans. It started when Umanmielen left the sideline in the waning seconds of a 24-17 loss to the Gators . He was walking toward the visiting locker room when at least one fan yelled at him from the stands. Umanmielen clearly didn't like what he heard and made his way toward the seats. Officers quickly stepped in and escorted Umanmielen back toward the locker room. They then walked him directly to the team's waiting busses, but more fans were in the path and shouted at him again. Umanmielen turned and started toward the fans before officers stepped in and stopped him. It was the latest bit of oddness for Umanmielen, who wore an orange Gators ski mask through Ole Miss' practice facility late in the week. He finished the game with seven tackles, including a sack. Get poll alerts and updates on the AP Top 25 throughout the season. Sign up here . AP college football: https://apnews.com/hub/ap-top-25-college-football-poll and https://apnews.com/hub/college-football3 reasons to involve your kids in Small Business SaturdayExpanding universal health care in schoolsChase Artopoeus has two TD passes, TD run as Chattanooga tops Austin Peay 24-17 in season finale