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2021-12-13

Nice

Visa Warns It Will Crack Down On Cannabis Retailers' Use Of Cashless ATM Payment 'Scheme'

2021-11-22

Nice

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2021-11-18

Nice

After-Hours Stock Movers: NVIDIA, Sonos, Victoria's Secret and more

2021-11-10

Ok

Wall Street losses end streak of record highs as inflation worry weighs on market

2021-11-06

Strong job report but market did not close that fantastic to be honest. Hiking of rates might be near.

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Banking, of course.</b></p>\n<p>As in life,&nbsp;<b>retailers have had to find a way to work around the system</b>. Some&nbsp;cannabis merchants have begun using cashless ATMs to bypass&nbsp;limitations on the types of sales payment cards they can legally accept.</p>\n<p>One of the largest payment processors in the&nbsp;world,&nbsp;<b>Visa Inc.</b>&nbsp;(NYSE:V)&nbsp;<b>recently issued a compliance memo to customers warning them that incorrectly coding point-of-sale transactions via cashless ATMs could be penalized or punished by unspecified enforcement procedure</b>,&nbsp;reported Marijuana Moment.</p>\n<p>Visa’s warning comes&nbsp;<b>on the heels of the marijuana banking reform bill that was recently</b>&nbsp;<b>chopped from Congress’ defense bill.</b>&nbsp;The&nbsp;latest version of the Congressional defense bill left out several key provisions that were in the House-approved&nbsp;<b>National Defense Authorization Act</b>(NDAA), including the much-anticipated&nbsp;<b>marijuana banking reform</b>&nbsp;known as the&nbsp;<b>Secure and Fair Enforcement (SAFE) Banking Act</b>, which would&nbsp;protect banking and financial institutions that work with state-legal cannabis companies.</p>\n<p><b>Aware Of A Scheme</b></p>\n<p>Visa’s memo from Dec. 2 obtained by Marijuana Moment revealed&nbsp;that&nbsp;<b>the company is “aware of a scheme”</b>in which retailers are utilizing cashless ATMs to avoid limitations on the types of sales for which payment cards are allowed to be used.</p>\n<p>“Cashless ATMs are POS devices driven by payment applications that mimic standalone ATMs. However, no cash disbursements are made to cardholders,” the memo clarified. “Instead, the devices are used for purchase transactions, which are miscoded as ATM cash disbursements. Purchase amounts are often rounded up to create the appearance of a cash disbursement.”</p>\n<p>Although the Visa&nbsp;directive does not&nbsp;specifically&nbsp;mention cannabis, it highlights&nbsp;that cashless ATMs (also called reverse ATMs) “are primarily marketed to merchant types that are unable to obtain payment services—whether due to the Visa Rules, the rules of other networks, or legal or regulatory prohibitions,” a category that covers marijuana businesses.</p>\n<p><b>Nathaniel Gurien</b>, CEO of&nbsp;<b>Fincann,</b>which&nbsp;provides financial services to cannabis businesses, estimates that&nbsp;<b>thousands of marijuana retailers in the U.S. rely&nbsp;on this scheme.</b></p>\n<p><b>A Desperate Move With Catastrophic Potential</b></p>\n<p>“What keeps me up at night is that when, not if one or more eager assistant U.S. attorneys with their eye on advancement sinks their teeth into this, it&nbsp;<b>has the catastrophic potential to derail our industry’s momentum and inflict great damage</b>,” Gurien told the outlet.</p>\n<p>While it remains&nbsp;clear that marijuana retailers are in an&nbsp;untenable situation&nbsp;– having no access to banking services – they should be aware that<b>&nbsp;relying on the use of cashless ATMs can endanger their operations.</b></p>\n<p>Corporate and banking compliance lawyer&nbsp;<b>Kasim Carbide</b>&nbsp;noted that violating&nbsp;Visa's regulations&nbsp;“<b>may result in a disciplinary action against the Merchant, as well as a potential fine of $200,000 or $2,500 per day</b>&nbsp;(which can be retroactively applied [sic] to and from the first day of noncompliance),&nbsp;<b>and termination of the Merchant’s account</b>.”</p>\n<p>What’s more, according to the&nbsp;<b>Chicago Bar Association</b>, miscoding cannabis sales is not only a violation of payment processors' (in this case Visa’s) policies but a&nbsp;<b>“violation of federal law as well.”</b></p>\n<p><b>Confused Yet?</b></p>\n<p>To exacerbate an already&nbsp;complicated situation,<b>&nbsp;Jessica Billingsley</b>, CEO of cannabis technology company Akerna (NASDAQ:KERN)&nbsp;pointed out that there are&nbsp;<b>probably many businesses that are&nbsp;unaware that&nbsp;cashless ATM practice is illegal.</b></p>\n<p>“With the number of unique complexities and challenges the cannabis industry faces, many operators don’t understand that they have been sold misrepresented products that may not be legal,” Billingsley said in a statement. “The work of a few bad actors cannot undermine the important legal work the majority of ancillary providers have been doing.”</p>\n<p><b>Many cannabis advocates reacted to&nbsp;Visa's statement, arguing that such a large company should support&nbsp;marijuana retailers instead of placing obstacles in their paths.</b></p>\n<p>“It is unfortunate that Visa is unwilling to work with the cannabis industry, which is legal in dozens of states and represents billions of dollars in economic activity, at a time when this country needs all the financial options it can use,” said&nbsp;<b>Morgan Fox</b>, media relations director for the National Cannabis Industry Association. “But it is even worse that they are trying to discourage alternative solutions that are primarily utilized by small businesses to protect themselves and their customers from theft and violent crime.”</p>","source":"lsy1606299360108","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Visa Warns It Will Crack Down On Cannabis Retailers' Use Of Cashless ATM Payment 'Scheme'</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nVisa Warns It Will Crack Down On Cannabis Retailers' Use Of Cashless ATM Payment 'Scheme'\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-12-13 22:23 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.benzinga.com/markets/cannabis/21/12/24568435/visa-warns-it-will-crack-down-on-cannabis-retailers-use-of-cashless-atm-payment-scheme><strong>Benzinga</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The burgeoning recreational marijuana industry – illegal at the federal level and in some 18 U.S. states – has faced multiple challenges throughout the years, mostly because of the Schedule 1 status ...</p>\n\n<a href=\"https://www.benzinga.com/markets/cannabis/21/12/24568435/visa-warns-it-will-crack-down-on-cannabis-retailers-use-of-cashless-atm-payment-scheme\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"V":"Visa"},"source_url":"https://www.benzinga.com/markets/cannabis/21/12/24568435/visa-warns-it-will-crack-down-on-cannabis-retailers-use-of-cashless-atm-payment-scheme","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1136475604","content_text":"The burgeoning recreational marijuana industry – illegal at the federal level and in some 18 U.S. states – has faced multiple challenges throughout the years, mostly because of the Schedule 1 status of the cannabis plant.\nThe biggest problem? Banking, of course.\nAs in life, retailers have had to find a way to work around the system. Some cannabis merchants have begun using cashless ATMs to bypass limitations on the types of sales payment cards they can legally accept.\nOne of the largest payment processors in the world, Visa Inc. (NYSE:V) recently issued a compliance memo to customers warning them that incorrectly coding point-of-sale transactions via cashless ATMs could be penalized or punished by unspecified enforcement procedure, reported Marijuana Moment.\nVisa’s warning comes on the heels of the marijuana banking reform bill that was recently chopped from Congress’ defense bill. The latest version of the Congressional defense bill left out several key provisions that were in the House-approved National Defense Authorization Act(NDAA), including the much-anticipated marijuana banking reform known as the Secure and Fair Enforcement (SAFE) Banking Act, which would protect banking and financial institutions that work with state-legal cannabis companies.\nAware Of A Scheme\nVisa’s memo from Dec. 2 obtained by Marijuana Moment revealed that the company is “aware of a scheme”in which retailers are utilizing cashless ATMs to avoid limitations on the types of sales for which payment cards are allowed to be used.\n“Cashless ATMs are POS devices driven by payment applications that mimic standalone ATMs. However, no cash disbursements are made to cardholders,” the memo clarified. “Instead, the devices are used for purchase transactions, which are miscoded as ATM cash disbursements. Purchase amounts are often rounded up to create the appearance of a cash disbursement.”\nAlthough the Visa directive does not specifically mention cannabis, it highlights that cashless ATMs (also called reverse ATMs) “are primarily marketed to merchant types that are unable to obtain payment services—whether due to the Visa Rules, the rules of other networks, or legal or regulatory prohibitions,” a category that covers marijuana businesses.\nNathaniel Gurien, CEO of Fincann,which provides financial services to cannabis businesses, estimates that thousands of marijuana retailers in the U.S. rely on this scheme.\nA Desperate Move With Catastrophic Potential\n“What keeps me up at night is that when, not if one or more eager assistant U.S. attorneys with their eye on advancement sinks their teeth into this, it has the catastrophic potential to derail our industry’s momentum and inflict great damage,” Gurien told the outlet.\nWhile it remains clear that marijuana retailers are in an untenable situation – having no access to banking services – they should be aware that relying on the use of cashless ATMs can endanger their operations.\nCorporate and banking compliance lawyer Kasim Carbide noted that violating Visa's regulations “may result in a disciplinary action against the Merchant, as well as a potential fine of $200,000 or $2,500 per day (which can be retroactively applied [sic] to and from the first day of noncompliance), and termination of the Merchant’s account.”\nWhat’s more, according to the Chicago Bar Association, miscoding cannabis sales is not only a violation of payment processors' (in this case Visa’s) policies but a “violation of federal law as well.”\nConfused Yet?\nTo exacerbate an already complicated situation, Jessica Billingsley, CEO of cannabis technology company Akerna (NASDAQ:KERN) pointed out that there are probably many businesses that are unaware that cashless ATM practice is illegal.\n“With the number of unique complexities and challenges the cannabis industry faces, many operators don’t understand that they have been sold misrepresented products that may not be legal,” Billingsley said in a statement. “The work of a few bad actors cannot undermine the important legal work the majority of ancillary providers have been doing.”\nMany cannabis advocates reacted to Visa's statement, arguing that such a large company should support marijuana retailers instead of placing obstacles in their paths.\n“It is unfortunate that Visa is unwilling to work with the cannabis industry, which is legal in dozens of states and represents billions of dollars in economic activity, at a time when this country needs all the financial options it can use,” said Morgan Fox, media relations director for the National Cannabis Industry Association. “But it is even worse that they are trying to discourage alternative solutions that are primarily utilized by small businesses to protect themselves and their customers from theft and violent crime.”","news_type":1},"isVote":1,"tweetType":1,"viewCount":1042,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":872551263,"gmtCreate":1637550629261,"gmtModify":1637550652850,"author":{"id":"4099089188693290","authorId":"4099089188693290","name":"5032a6e5","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4099089188693290","authorIdStr":"4099089188693290"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/872551263","repostId":"1105163070","repostType":4,"isVote":1,"tweetType":1,"viewCount":1090,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":878641770,"gmtCreate":1637192943512,"gmtModify":1637192943512,"author":{"id":"4099089188693290","authorId":"4099089188693290","name":"5032a6e5","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4099089188693290","authorIdStr":"4099089188693290"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/878641770","repostId":"2184547718","repostType":4,"repost":{"id":"2184547718","kind":"news","pubTimestamp":1637191423,"share":"https://www.laohu8.com/m/news/2184547718?lang=&edition=full","pubTime":"2021-11-18 07:23","market":"us","language":"en","title":"After-Hours Stock Movers: NVIDIA, Sonos, Victoria's Secret and more","url":"https://stock-news.laohu8.com/highlight/detail?id=2184547718","media":"StreetInsider","summary":"$Victoria's Secret & Co. $ 11% HIGHER; reported Q3 EPS of $0.81, $0.10 better than the analyst estimate of $0.71. Revenue for the quarter came in at $1.44 billion versus the consensus estimate of $1.46 billion. Victoria's Secret & Co. sees Q4 2021 EPS of $2.35-$2.65, versus the consensus of $2.80. sales to be in the range of flat to up 3% versus last year’s fourth quarter sales of $2.100 billion. $Cisco Systems $ 6% LOWER; reported Q1 EPS of $0.82, in-line with the analyst estimate of $0.82. Rev","content":"<p>After-Hours Stock Movers:</p>\n<p><a href=\"https://laohu8.com/S/VSCO\">Victoria's Secret &amp; Co. </a> 11% HIGHER; reported Q3 EPS of $0.81, $0.10 better than the analyst estimate of $0.71. Revenue for the quarter came in at $1.44 billion versus the consensus estimate of $1.46 billion. Victoria's Secret &amp; Co. sees Q4 2021 EPS of $2.35-$2.65, versus the consensus of $2.80. sales to be in the range of flat to up 3% versus last year’s fourth quarter sales of $2.100 billion</p>\n<p><a href=\"https://laohu8.com/S/CSCO\">Cisco Systems </a> 6% LOWER; reported Q1 EPS of $0.82, in-line with the analyst estimate of $0.82. Revenue for the quarter came in at $12.9 billion versus the consensus estimate of $13.03 billion. Cisco Systems sees Q2 2022 EPS of $0.80-$0.82, versus the consensus of $0.82. Revenue: 4.5% to 6.5% growth year over year. Cisco Systems sees FY2022 EPS of $3.38-$3.45, versus the consensus of $3.42.</p>\n<p><a href=\"https://laohu8.com/S/NVDA\">NVIDIA </a> 4.9% HIGHER; reported Q3 EPS of $1.17, $0.06 better than the analyst estimate of $1.11. Revenue for the quarter came in at $7.1 billion versus the consensus estimate of $6.83 billion. NVIDIA sees Q4 2022 revenue of $7.4 billion, versus the consensus of $6.86 billion.</p>\n<p><a href=\"https://laohu8.com/S/SONO\">Sonos </a> 3% HIGHER; reported Q4 EPS of $0.08, $0.14 better than the analyst estimate of ($0.06). Revenue for the quarter came in at $359.5 million versus the consensus estimate of $360.23 million. Sonos sees FY2022 revenue of $1.925-2 billion, versus the consensus of $1.86 billion.</p>\n<p><a href=\"https://laohu8.com/S/KHC\">The Kraft Heinz Company </a> 1.8% LOWER; announced a secondary offering of shares of its common stock (the Offering). In the Offering, which is subject to market and other conditions, certain affiliates of 3G Global Food Holdings LP (the Selling Stockholder) intend to offer 30,596,465 shares of common stock (Common Stock) for sale. The Company will not receive any proceeds from the Offering.</p>","source":"highlight_streetinsider","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>After-Hours Stock Movers: NVIDIA, Sonos, Victoria's Secret and more</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAfter-Hours Stock Movers: NVIDIA, Sonos, Victoria's Secret and more\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-11-18 07:23 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.streetinsider.com/dr/news.php?id=19236071><strong>StreetInsider</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>After-Hours Stock Movers:\nVictoria's Secret & Co.  11% HIGHER; reported Q3 EPS of $0.81, $0.10 better than the analyst estimate of $0.71. Revenue for the quarter came in at $1.44 billion versus the ...</p>\n\n<a href=\"https://www.streetinsider.com/dr/news.php?id=19236071\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"KHC":"卡夫亨氏","NVDA":"英伟达","VSCO":"维多利亚的秘密","CSCO":"思科","SONO":"搜诺思公司"},"source_url":"https://www.streetinsider.com/dr/news.php?id=19236071","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2184547718","content_text":"After-Hours Stock Movers:\nVictoria's Secret & Co.  11% HIGHER; reported Q3 EPS of $0.81, $0.10 better than the analyst estimate of $0.71. Revenue for the quarter came in at $1.44 billion versus the consensus estimate of $1.46 billion. Victoria's Secret & Co. sees Q4 2021 EPS of $2.35-$2.65, versus the consensus of $2.80. sales to be in the range of flat to up 3% versus last year’s fourth quarter sales of $2.100 billion\nCisco Systems  6% LOWER; reported Q1 EPS of $0.82, in-line with the analyst estimate of $0.82. Revenue for the quarter came in at $12.9 billion versus the consensus estimate of $13.03 billion. Cisco Systems sees Q2 2022 EPS of $0.80-$0.82, versus the consensus of $0.82. Revenue: 4.5% to 6.5% growth year over year. Cisco Systems sees FY2022 EPS of $3.38-$3.45, versus the consensus of $3.42.\nNVIDIA  4.9% HIGHER; reported Q3 EPS of $1.17, $0.06 better than the analyst estimate of $1.11. Revenue for the quarter came in at $7.1 billion versus the consensus estimate of $6.83 billion. NVIDIA sees Q4 2022 revenue of $7.4 billion, versus the consensus of $6.86 billion.\nSonos  3% HIGHER; reported Q4 EPS of $0.08, $0.14 better than the analyst estimate of ($0.06). Revenue for the quarter came in at $359.5 million versus the consensus estimate of $360.23 million. Sonos sees FY2022 revenue of $1.925-2 billion, versus the consensus of $1.86 billion.\nThe Kraft Heinz Company  1.8% LOWER; announced a secondary offering of shares of its common stock (the Offering). In the Offering, which is subject to market and other conditions, certain affiliates of 3G Global Food Holdings LP (the Selling Stockholder) intend to offer 30,596,465 shares of common stock (Common Stock) for sale. The Company will not receive any proceeds from the Offering.","news_type":1},"isVote":1,"tweetType":1,"viewCount":792,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":847624562,"gmtCreate":1636515719040,"gmtModify":1636515719113,"author":{"id":"4099089188693290","authorId":"4099089188693290","name":"5032a6e5","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4099089188693290","authorIdStr":"4099089188693290"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/847624562","repostId":"1188205095","repostType":4,"repost":{"id":"1188205095","kind":"news","pubTimestamp":1636498317,"share":"https://www.laohu8.com/m/news/1188205095?lang=&edition=full","pubTime":"2021-11-10 06:51","market":"us","language":"en","title":"Wall Street losses end streak of record highs as inflation worry weighs on market","url":"https://stock-news.laohu8.com/highlight/detail?id=1188205095","media":"Reuters","summary":"(Reuters) - Wall Street closed lower on Tuesday, ending a multi-day rally of consecutive record clos","content":"<p>(Reuters) - Wall Street closed lower on Tuesday, ending a multi-day rally of consecutive record closing highs as profit-taking and worries over ongoing inflation fueled a broad sell-off.</p>\n<p>All three major U.S. stock indexes lost ground, marking the conclusion of an eight-session streak of all-time closing highs set by the S&amp;P 500 and the Nasdaq.</p>\n<p>After such a run, and in the absence of market-moving catalysts, market participants appeared primed to take profits.</p>\n<p>\"We've had an incredible run, so letting some air out of the balloon is perfectly normal,\" said Ryan Detrick, chief market strategist at LPL Financial in Charlotte, North Carolina.</p>\n<p>\"It's a reminder that stocks can’t go up every day,\" Detrick added. \"We’re seeing some oversold weakness today, nothing overly concerning.\"</p>\n<p>The Labor Department's producer prices (PPI) report showed inflation continues to gather heat as ongoing goods and labor supply challenges send price growth further beyond the U.S. Federal Reserve's average annual 2% inflation target.</p>\n<p>Wednesday's CPI report will be scrutinized for clues regarding the extent to which producer prices are being passed along to the consumer, whose spending represents about 70% of the U.S. economy.</p>\n<p>The Dow Jones Industrial Average(.DJI)fell 112.24 points, or 0.31%, to 36,319.98, the S&amp;P 500(.SPX)lost 16.45 points, or 0.35%, to 4,685.25 and the Nasdaq Composite(.IXIC)dropped 95.81 points, or 0.6%, to 15,886.54.</p>\n<p>Five of the 11 major sectors of the S&amp;P 500 ended the session red, with consumer discretionary(.SPLRCD)shedding 1.4%, the largest percentage drop. Utilities(.SPLRCU)led the gainers, advancing 0.4%.</p>\n<p>The finish line for third-quarter earnings season is in sight, with 445 of the companies in the S&amp;P 500 having reported. Of those, 81% have beat consensus, according to Refinitiv.</p>\n<p>General Electric Co(GE.N)surged 2.6% following the 129-year-old industrial conglomerate's announcement that it would split into three separate public companies to simplify its business.read more</p>\n<p>Tesla Inc(TSLA.O)plunged 12.0%, weighing on the consumer discretionary sector(.SPLRCD)and extending its losses after Chief Executive Elon Musk's Twitter poll proposing to sell a tenth of his holdings garnered a 57.9% vote in favor of the sale. This raised questions as to whether Musk violated a settlement with the U.S. Securities and Exchange Commission (SEC).read more</p>\n<p>Online retail stock-trading app Robinhood Markets Inc(HOOD.O)reported a security breach affecting about 5 million customers, sending its shares sliding dropped 3.4%.read more</p>\n<p>On the plus side, upbeat quarterly results sent video game maker Zynga Inc(ZNGA.O)jumping 9.4% and shares of homebuilder D.R. Horton(DHI.N)up 5.2%.</p>\n<p>Declining issues outnumbered advancing ones on the NYSE by a 1.13-to-1 ratio; on Nasdaq, a 1.40-to-1 ratio favored decliners.</p>\n<p>The S&amp;P 500 posted 34 new 52-week highs and two new lows; the Nasdaq Composite recorded 120 new highs and 73 new lows.</p>\n<p>Volume on U.S. exchanges was 11.02 billion shares, compared with the 10.76 billion average over the last 20 trading days.</p>\n<p><a href=\"https://laohu8.com/NW/2182089540\" target=\"_blank\">NIO Inc. Reports Unaudited Third Quarter 2021 Financial Results</a></p>\n<p>NIO Inc. (NIO) reported mixed financial results for&nbsp;Q3 FY 2021. The company posted a loss per&nbsp;share of RMB 1.82 ($0.28), more than twice as large as the loss per share analysts expected. Revenue, however, beat expectations, rising 116.6% year over year (YOY). NIO's vehicle deliveries, which were reported at the beginning of October, exceeded analysts' forecasts. The company's shares fell more than 2% in post-market trading. Over the past year, NIO's shares have provided a&nbsp;total return&nbsp;of -7.7%, well below the S&amp;P 500's total return of 32.0%.</p>\n<p><a href=\"https://laohu8.com/NW/2182898260\" target=\"_blank\">Coinbase Stock Sinks 10% Following Q3 Revenue Miss, Analyst Highlights Worsening Take Rate</a></p>\n<p>Coinbase (NASDAQ: COIN) shares were trading more than 10% lower after-hours, following the company’s Q3 results, with revenue coming in at $1.31 billion ($1.1 billion in transaction revenue and $145 million in Subscription and services revenue), below the consensus estimate of $1.56 billion. Quarterly EPS of $1.62 was better than the consensus estimate of $1.57. Verified Users grew to 73 million in Q3 and retail Monthly Transacting Users (MTUs) were 7.4 million.</p>\n<p><a href=\"https://laohu8.com/NW/2182089825\" target=\"_blank\">DoorDash Stock Rips Higher on Earnings, Plan to Acquire Wolt for ~$8B</a></p>\n<p><a href=\"https://laohu8.com/S/DASH\">DoorDash, Inc.</a> (NYSE: DASH) shares surged 12% after hours Tuesday following earnings and news the company will acquire Finland-based Wolt Enterprises OY, a leading local commerce platform across 23 countries, in an all-stock transaction valued approximately at €7 billion (U.S. $8.09 billion).</p>\n<p><a href=\"https://laohu8.com/NW/2182089829\" target=\"_blank\">Upstart Stock Plunges 22% Despite Q3 Beat</a></p>\n<p>Upstart Holdings (NASDAQ: UPST) shares were trading around 22% lower after-hours, despite the company’s reported Q3 beat, with EPS coming in at $0.60, better than the consensus estimate of $0.35. Quarterly revenue grew 250% to $228.5 million, beating the consensus estimate of $214.9 million.</p>\n<p><a href=\"https://laohu8.com/NW/2182086726\" target=\"_blank\">Sports-Focused Streamer FuboTV Smashes Subscriber Goal In Third Quarter</a></p>\n<p>FuboTV lost 74 cents a share on sales of $156.7 million in the third quarter. Wall Street had predicted a loss of 61 cents a share on revenue of $143.5 million, FactSet said.On an adjusted basis, FuboTV lost 59 cents a share, compared with a loss of $1.08 a share in the year-earlier period.</p>\n<p><a href=\"https://laohu8.com/NW/2182864180\" target=\"_blank\">Unity Software Beats Third-Quarter Targets, Buys Weta Digital</a></p>\n<p>Video game design and animation software maker<b>Unity Software</b> late Tuesday crushed Wall Street's sales target for the third quarter and reported a smaller loss than expected. Unity stock was in record high territory ahead of the earnings report.</p>\n<p>The San Francisco-based company lost an adjusted 6 cents a share on sales of $286.3 million in the September quarter. Analysts expected Unity to lose 7 cents a share on sales of $266.5 million, according to FactSet. In the year-earlier period, Unity lost 9 cents a share on sales of $200.8 million.</p>\n<p><a href=\"https://laohu8.com/NW/2182865910\" target=\"_blank\">PubMatic Announces Third Quarter 2021 Financial Results</a></p>\n<li>Revenue in the third quarter of 2021 was $58.1 million, an increase of 54% over $37.8 million in the same period of 2020;&nbsp;GAAP net income was $13.5 million, or $0.24 per diluted share in the third quarter, an increase over net income of $6.2 million, or $0.10 per diluted share in the same period of 2020.</li>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Wall Street losses end streak of record highs as inflation worry weighs on market</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWall Street losses end streak of record highs as inflation worry weighs on market\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-11-10 06:51 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.reuters.com/business/wall-street-losses-end-streak-record-highs-inflation-worry-weighs-market-2021-11-09/><strong>Reuters</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Reuters) - Wall Street closed lower on Tuesday, ending a multi-day rally of consecutive record closing highs as profit-taking and worries over ongoing inflation fueled a broad sell-off.\nAll three ...</p>\n\n<a href=\"https://www.reuters.com/business/wall-street-losses-end-streak-record-highs-inflation-worry-weighs-market-2021-11-09/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".DJI":"道琼斯",".SPX":"S&P 500 Index"},"source_url":"https://www.reuters.com/business/wall-street-losses-end-streak-record-highs-inflation-worry-weighs-market-2021-11-09/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1188205095","content_text":"(Reuters) - Wall Street closed lower on Tuesday, ending a multi-day rally of consecutive record closing highs as profit-taking and worries over ongoing inflation fueled a broad sell-off.\nAll three major U.S. stock indexes lost ground, marking the conclusion of an eight-session streak of all-time closing highs set by the S&P 500 and the Nasdaq.\nAfter such a run, and in the absence of market-moving catalysts, market participants appeared primed to take profits.\n\"We've had an incredible run, so letting some air out of the balloon is perfectly normal,\" said Ryan Detrick, chief market strategist at LPL Financial in Charlotte, North Carolina.\n\"It's a reminder that stocks can’t go up every day,\" Detrick added. \"We’re seeing some oversold weakness today, nothing overly concerning.\"\nThe Labor Department's producer prices (PPI) report showed inflation continues to gather heat as ongoing goods and labor supply challenges send price growth further beyond the U.S. Federal Reserve's average annual 2% inflation target.\nWednesday's CPI report will be scrutinized for clues regarding the extent to which producer prices are being passed along to the consumer, whose spending represents about 70% of the U.S. economy.\nThe Dow Jones Industrial Average(.DJI)fell 112.24 points, or 0.31%, to 36,319.98, the S&P 500(.SPX)lost 16.45 points, or 0.35%, to 4,685.25 and the Nasdaq Composite(.IXIC)dropped 95.81 points, or 0.6%, to 15,886.54.\nFive of the 11 major sectors of the S&P 500 ended the session red, with consumer discretionary(.SPLRCD)shedding 1.4%, the largest percentage drop. Utilities(.SPLRCU)led the gainers, advancing 0.4%.\nThe finish line for third-quarter earnings season is in sight, with 445 of the companies in the S&P 500 having reported. Of those, 81% have beat consensus, according to Refinitiv.\nGeneral Electric Co(GE.N)surged 2.6% following the 129-year-old industrial conglomerate's announcement that it would split into three separate public companies to simplify its business.read more\nTesla Inc(TSLA.O)plunged 12.0%, weighing on the consumer discretionary sector(.SPLRCD)and extending its losses after Chief Executive Elon Musk's Twitter poll proposing to sell a tenth of his holdings garnered a 57.9% vote in favor of the sale. This raised questions as to whether Musk violated a settlement with the U.S. Securities and Exchange Commission (SEC).read more\nOnline retail stock-trading app Robinhood Markets Inc(HOOD.O)reported a security breach affecting about 5 million customers, sending its shares sliding dropped 3.4%.read more\nOn the plus side, upbeat quarterly results sent video game maker Zynga Inc(ZNGA.O)jumping 9.4% and shares of homebuilder D.R. Horton(DHI.N)up 5.2%.\nDeclining issues outnumbered advancing ones on the NYSE by a 1.13-to-1 ratio; on Nasdaq, a 1.40-to-1 ratio favored decliners.\nThe S&P 500 posted 34 new 52-week highs and two new lows; the Nasdaq Composite recorded 120 new highs and 73 new lows.\nVolume on U.S. exchanges was 11.02 billion shares, compared with the 10.76 billion average over the last 20 trading days.\nNIO Inc. Reports Unaudited Third Quarter 2021 Financial Results\nNIO Inc. (NIO) reported mixed financial results for Q3 FY 2021. The company posted a loss per share of RMB 1.82 ($0.28), more than twice as large as the loss per share analysts expected. Revenue, however, beat expectations, rising 116.6% year over year (YOY). NIO's vehicle deliveries, which were reported at the beginning of October, exceeded analysts' forecasts. The company's shares fell more than 2% in post-market trading. Over the past year, NIO's shares have provided a total return of -7.7%, well below the S&P 500's total return of 32.0%.\nCoinbase Stock Sinks 10% Following Q3 Revenue Miss, Analyst Highlights Worsening Take Rate\nCoinbase (NASDAQ: COIN) shares were trading more than 10% lower after-hours, following the company’s Q3 results, with revenue coming in at $1.31 billion ($1.1 billion in transaction revenue and $145 million in Subscription and services revenue), below the consensus estimate of $1.56 billion. Quarterly EPS of $1.62 was better than the consensus estimate of $1.57. Verified Users grew to 73 million in Q3 and retail Monthly Transacting Users (MTUs) were 7.4 million.\nDoorDash Stock Rips Higher on Earnings, Plan to Acquire Wolt for ~$8B\nDoorDash, Inc. (NYSE: DASH) shares surged 12% after hours Tuesday following earnings and news the company will acquire Finland-based Wolt Enterprises OY, a leading local commerce platform across 23 countries, in an all-stock transaction valued approximately at €7 billion (U.S. $8.09 billion).\nUpstart Stock Plunges 22% Despite Q3 Beat\nUpstart Holdings (NASDAQ: UPST) shares were trading around 22% lower after-hours, despite the company’s reported Q3 beat, with EPS coming in at $0.60, better than the consensus estimate of $0.35. Quarterly revenue grew 250% to $228.5 million, beating the consensus estimate of $214.9 million.\nSports-Focused Streamer FuboTV Smashes Subscriber Goal In Third Quarter\nFuboTV lost 74 cents a share on sales of $156.7 million in the third quarter. Wall Street had predicted a loss of 61 cents a share on revenue of $143.5 million, FactSet said.On an adjusted basis, FuboTV lost 59 cents a share, compared with a loss of $1.08 a share in the year-earlier period.\nUnity Software Beats Third-Quarter Targets, Buys Weta Digital\nVideo game design and animation software makerUnity Software late Tuesday crushed Wall Street's sales target for the third quarter and reported a smaller loss than expected. Unity stock was in record high territory ahead of the earnings report.\nThe San Francisco-based company lost an adjusted 6 cents a share on sales of $286.3 million in the September quarter. Analysts expected Unity to lose 7 cents a share on sales of $266.5 million, according to FactSet. In the year-earlier period, Unity lost 9 cents a share on sales of $200.8 million.\nPubMatic Announces Third Quarter 2021 Financial Results\nRevenue in the third quarter of 2021 was $58.1 million, an increase of 54% over $37.8 million in the same period of 2020; GAAP net income was $13.5 million, or $0.24 per diluted share in the third quarter, an increase over net income of $6.2 million, or $0.10 per diluted share in the same period of 2020.","news_type":1},"isVote":1,"tweetType":1,"viewCount":935,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":842587797,"gmtCreate":1636202577614,"gmtModify":1636202577693,"author":{"id":"4099089188693290","authorId":"4099089188693290","name":"5032a6e5","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4099089188693290","authorIdStr":"4099089188693290"},"themes":[],"htmlText":"Strong job report but market did not close that fantastic to be honest. Hiking of rates might be near.&nbsp;","listText":"Strong job report but market did not close that fantastic to be honest. Hiking of rates might be near.&nbsp;","text":"Strong job report but market did not close that fantastic to be honest. Hiking of rates might be near.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/842587797","repostId":"1173813098","repostType":4,"isVote":1,"tweetType":1,"viewCount":1361,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0}],"hots":[{"id":847624562,"gmtCreate":1636515719040,"gmtModify":1636515719113,"author":{"id":"4099089188693290","authorId":"4099089188693290","name":"5032a6e5","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4099089188693290","authorIdStr":"4099089188693290"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/847624562","repostId":"1188205095","repostType":4,"isVote":1,"tweetType":1,"viewCount":935,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":842587797,"gmtCreate":1636202577614,"gmtModify":1636202577693,"author":{"id":"4099089188693290","authorId":"4099089188693290","name":"5032a6e5","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4099089188693290","authorIdStr":"4099089188693290"},"themes":[],"htmlText":"Strong job report but market did not close that fantastic to be honest. Hiking of rates might be near.&nbsp;","listText":"Strong job report but market did not close that fantastic to be honest. Hiking of rates might be near.&nbsp;","text":"Strong job report but market did not close that fantastic to be honest. Hiking of rates might be near.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/842587797","repostId":"1173813098","repostType":4,"isVote":1,"tweetType":1,"viewCount":1361,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":878641770,"gmtCreate":1637192943512,"gmtModify":1637192943512,"author":{"id":"4099089188693290","authorId":"4099089188693290","name":"5032a6e5","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4099089188693290","authorIdStr":"4099089188693290"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/878641770","repostId":"2184547718","repostType":4,"isVote":1,"tweetType":1,"viewCount":792,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":872551263,"gmtCreate":1637550629261,"gmtModify":1637550652850,"author":{"id":"4099089188693290","authorId":"4099089188693290","name":"5032a6e5","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4099089188693290","authorIdStr":"4099089188693290"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/872551263","repostId":"1105163070","repostType":4,"repost":{"id":"1105163070","kind":"news","pubTimestamp":1637549873,"share":"https://www.laohu8.com/m/news/1105163070?lang=&edition=full","pubTime":"2021-11-22 10:57","market":"us","language":"en","title":"Rivian Topped Ford and GM Combined. How the Old-School Car Makers Could Get a Boost From EVs.","url":"https://stock-news.laohu8.com/highlight/detail?id=1105163070","media":"Barrons","summary":"Old-school auto makers must envy the sky-high valuations of electric-vehicle start-ups. At one point","content":"<p></p>\n<p>Old-school auto makers must envy the sky-high valuations of electric-vehicle start-ups. At one point this past week, Rivian Automotive was worth as much as&nbsp;Ford Motor&nbsp;and&nbsp;General Motors&nbsp;combined.</p>\n<p>But maybe there is a way for traditional auto makers to close that valuation gap: Take a page from Liberty Media’s John Malone’s playbook and issue tracking stocks. “The way to solve this is for GM and Ford to issue tracking stocks for their next-gen vehicle operations, such as EV, robo-taxi, etc.,” Scion Asset Management’s Michael Burry told <i>Barron’s</i> in an email exchange. “This is an absolute no-brainer.”</p>\n<p>Burry is best known for a successful bet against the housing market ahead of the subprime mortgage collapse. He is a major character in Michael Lewis’s book <i>The Big Short</i>, and the movie based on it.</p>\n<p>A tracking stock “tracks” the financial performance of a specific business unit. Shareholders of a tracking stock have a financial interest only in the division tracked, rather than in the entire business.</p>\n<p>Burry’s idea builds on another, similar call from earlier in the week. On Wednesday, Data Trek Research’s Nick Colas, a former Wall Street auto analyst, wrote that Ford (F) and GM (GM) needed to spin out their EV businesses. “When it was just Tesla with a crazy valuation, they could afford to dismiss this [spinoff] idea. Now, with Rivian [RIVN], Lucid [LCID], etc., they can’t,” Colas wrote. “Automotive is a capital-intensive business, so cost of capital matters.”</p>\n<p>Put it this way: Building a new EV plant that could produce, say, 500,000 EVs a year, along with the batteries to power them, costs several billion dollars. That‘s less than 1% of Tesla’s (TSLA) market cap, but roughly 5% to 10% of Ford’s or GM’s.</p>\n<p>Not that Colas believes spinoffs will actually happen. Car makers are too complex, with many manufacturing plants doing several jobs for other factories in a network.</p>\n<p>Tracking stocks, though, might be feasible.Liberty Media Formula One&nbsp;(FWONA), for instance, tracks the financial performance of the Formula One racing series. And General Motors did the first tracking stock ever, for Ross Perot’s Electronic Data Systems, or EDS, back in 1984.</p>\n<p>How to value a Ford or GM tracking stock? The possibilities are tantalizing.</p>\n<p>Ford, like Rivian, is launching an EV truck and it already sells the electric Mustang Mach E. Ford’s EV business should be about four times the size of Rivian’s by 2023, if the company hits its goals.</p>\n<p>As for GM, it’s essentially the second-largest U.S. EV maker behind Tesla. GM’s global EV volume is at about 300,000 units when factoring in sales from GM’s Chinese joint ventures. With Lucid worth almost as much as GM and planning to sell roughly just 20,000 units in 2022, GM’s EV company could be worth multiples of Lucid.</p>\n<p>If all electric-vehicle companies and EV tracking stocks were valued like some EV shares, auto industry valuation could easily top $4 trillion, roughly four times the value before Tesla went on its epic 2020 run.</p>\n<p>That might be a bit aggressive.</p>\n<p></p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Rivian Topped Ford and GM Combined. How the Old-School Car Makers Could Get a Boost From EVs.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nRivian Topped Ford and GM Combined. How the Old-School Car Makers Could Get a Boost From EVs.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-11-22 10:57 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/rivian-ford-gm-ev-51637373655?mod=hp_LATEST><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Old-school auto makers must envy the sky-high valuations of electric-vehicle start-ups. At one point this past week, Rivian Automotive was worth as much as Ford Motor and General Motors combined.\nBut ...</p>\n\n<a href=\"https://www.barrons.com/articles/rivian-ford-gm-ev-51637373655?mod=hp_LATEST\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GM":"通用汽车","F":"福特汽车"},"source_url":"https://www.barrons.com/articles/rivian-ford-gm-ev-51637373655?mod=hp_LATEST","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1105163070","content_text":"Old-school auto makers must envy the sky-high valuations of electric-vehicle start-ups. At one point this past week, Rivian Automotive was worth as much as Ford Motor and General Motors combined.\nBut maybe there is a way for traditional auto makers to close that valuation gap: Take a page from Liberty Media’s John Malone’s playbook and issue tracking stocks. “The way to solve this is for GM and Ford to issue tracking stocks for their next-gen vehicle operations, such as EV, robo-taxi, etc.,” Scion Asset Management’s Michael Burry told Barron’s in an email exchange. “This is an absolute no-brainer.”\nBurry is best known for a successful bet against the housing market ahead of the subprime mortgage collapse. He is a major character in Michael Lewis’s book The Big Short, and the movie based on it.\nA tracking stock “tracks” the financial performance of a specific business unit. Shareholders of a tracking stock have a financial interest only in the division tracked, rather than in the entire business.\nBurry’s idea builds on another, similar call from earlier in the week. On Wednesday, Data Trek Research’s Nick Colas, a former Wall Street auto analyst, wrote that Ford (F) and GM (GM) needed to spin out their EV businesses. “When it was just Tesla with a crazy valuation, they could afford to dismiss this [spinoff] idea. Now, with Rivian [RIVN], Lucid [LCID], etc., they can’t,” Colas wrote. “Automotive is a capital-intensive business, so cost of capital matters.”\nPut it this way: Building a new EV plant that could produce, say, 500,000 EVs a year, along with the batteries to power them, costs several billion dollars. That‘s less than 1% of Tesla’s (TSLA) market cap, but roughly 5% to 10% of Ford’s or GM’s.\nNot that Colas believes spinoffs will actually happen. Car makers are too complex, with many manufacturing plants doing several jobs for other factories in a network.\nTracking stocks, though, might be feasible.Liberty Media Formula One (FWONA), for instance, tracks the financial performance of the Formula One racing series. And General Motors did the first tracking stock ever, for Ross Perot’s Electronic Data Systems, or EDS, back in 1984.\nHow to value a Ford or GM tracking stock? The possibilities are tantalizing.\nFord, like Rivian, is launching an EV truck and it already sells the electric Mustang Mach E. Ford’s EV business should be about four times the size of Rivian’s by 2023, if the company hits its goals.\nAs for GM, it’s essentially the second-largest U.S. EV maker behind Tesla. GM’s global EV volume is at about 300,000 units when factoring in sales from GM’s Chinese joint ventures. With Lucid worth almost as much as GM and planning to sell roughly just 20,000 units in 2022, GM’s EV company could be worth multiples of Lucid.\nIf all electric-vehicle companies and EV tracking stocks were valued like some EV shares, auto industry valuation could easily top $4 trillion, roughly four times the value before Tesla went on its epic 2020 run.\nThat might be a bit aggressive.","news_type":1},"isVote":1,"tweetType":1,"viewCount":1090,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":604221373,"gmtCreate":1639405491595,"gmtModify":1639405491764,"author":{"id":"4099089188693290","authorId":"4099089188693290","name":"5032a6e5","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4099089188693290","authorIdStr":"4099089188693290"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/604221373","repostId":"1136475604","repostType":4,"repost":{"id":"1136475604","kind":"news","pubTimestamp":1639405387,"share":"https://www.laohu8.com/m/news/1136475604?lang=&edition=full","pubTime":"2021-12-13 22:23","market":"us","language":"en","title":"Visa Warns It Will Crack Down On Cannabis Retailers' Use Of Cashless ATM Payment 'Scheme'","url":"https://stock-news.laohu8.com/highlight/detail?id=1136475604","media":"Benzinga","summary":"The burgeoning recreational marijuana industry – illegal at the federal level and in some 18 U.S. st","content":"<p>The burgeoning recreational marijuana industry – illegal at the federal level and in some 18 U.S.&nbsp;states&nbsp;– has faced&nbsp;multiple challenges throughout the years, mostly&nbsp;because of the Schedule 1 status of the cannabis&nbsp;plant.</p>\n<p><b>The biggest problem? Banking, of course.</b></p>\n<p>As in life,&nbsp;<b>retailers have had to find a way to work around the system</b>. Some&nbsp;cannabis merchants have begun using cashless ATMs to bypass&nbsp;limitations on the types of sales payment cards they can legally accept.</p>\n<p>One of the largest payment processors in the&nbsp;world,&nbsp;<b>Visa Inc.</b>&nbsp;(NYSE:V)&nbsp;<b>recently issued a compliance memo to customers warning them that incorrectly coding point-of-sale transactions via cashless ATMs could be penalized or punished by unspecified enforcement procedure</b>,&nbsp;reported Marijuana Moment.</p>\n<p>Visa’s warning comes&nbsp;<b>on the heels of the marijuana banking reform bill that was recently</b>&nbsp;<b>chopped from Congress’ defense bill.</b>&nbsp;The&nbsp;latest version of the Congressional defense bill left out several key provisions that were in the House-approved&nbsp;<b>National Defense Authorization Act</b>(NDAA), including the much-anticipated&nbsp;<b>marijuana banking reform</b>&nbsp;known as the&nbsp;<b>Secure and Fair Enforcement (SAFE) Banking Act</b>, which would&nbsp;protect banking and financial institutions that work with state-legal cannabis companies.</p>\n<p><b>Aware Of A Scheme</b></p>\n<p>Visa’s memo from Dec. 2 obtained by Marijuana Moment revealed&nbsp;that&nbsp;<b>the company is “aware of a scheme”</b>in which retailers are utilizing cashless ATMs to avoid limitations on the types of sales for which payment cards are allowed to be used.</p>\n<p>“Cashless ATMs are POS devices driven by payment applications that mimic standalone ATMs. However, no cash disbursements are made to cardholders,” the memo clarified. “Instead, the devices are used for purchase transactions, which are miscoded as ATM cash disbursements. Purchase amounts are often rounded up to create the appearance of a cash disbursement.”</p>\n<p>Although the Visa&nbsp;directive does not&nbsp;specifically&nbsp;mention cannabis, it highlights&nbsp;that cashless ATMs (also called reverse ATMs) “are primarily marketed to merchant types that are unable to obtain payment services—whether due to the Visa Rules, the rules of other networks, or legal or regulatory prohibitions,” a category that covers marijuana businesses.</p>\n<p><b>Nathaniel Gurien</b>, CEO of&nbsp;<b>Fincann,</b>which&nbsp;provides financial services to cannabis businesses, estimates that&nbsp;<b>thousands of marijuana retailers in the U.S. rely&nbsp;on this scheme.</b></p>\n<p><b>A Desperate Move With Catastrophic Potential</b></p>\n<p>“What keeps me up at night is that when, not if one or more eager assistant U.S. attorneys with their eye on advancement sinks their teeth into this, it&nbsp;<b>has the catastrophic potential to derail our industry’s momentum and inflict great damage</b>,” Gurien told the outlet.</p>\n<p>While it remains&nbsp;clear that marijuana retailers are in an&nbsp;untenable situation&nbsp;– having no access to banking services – they should be aware that<b>&nbsp;relying on the use of cashless ATMs can endanger their operations.</b></p>\n<p>Corporate and banking compliance lawyer&nbsp;<b>Kasim Carbide</b>&nbsp;noted that violating&nbsp;Visa's regulations&nbsp;“<b>may result in a disciplinary action against the Merchant, as well as a potential fine of $200,000 or $2,500 per day</b>&nbsp;(which can be retroactively applied [sic] to and from the first day of noncompliance),&nbsp;<b>and termination of the Merchant’s account</b>.”</p>\n<p>What’s more, according to the&nbsp;<b>Chicago Bar Association</b>, miscoding cannabis sales is not only a violation of payment processors' (in this case Visa’s) policies but a&nbsp;<b>“violation of federal law as well.”</b></p>\n<p><b>Confused Yet?</b></p>\n<p>To exacerbate an already&nbsp;complicated situation,<b>&nbsp;Jessica Billingsley</b>, CEO of cannabis technology company Akerna (NASDAQ:KERN)&nbsp;pointed out that there are&nbsp;<b>probably many businesses that are&nbsp;unaware that&nbsp;cashless ATM practice is illegal.</b></p>\n<p>“With the number of unique complexities and challenges the cannabis industry faces, many operators don’t understand that they have been sold misrepresented products that may not be legal,” Billingsley said in a statement. “The work of a few bad actors cannot undermine the important legal work the majority of ancillary providers have been doing.”</p>\n<p><b>Many cannabis advocates reacted to&nbsp;Visa's statement, arguing that such a large company should support&nbsp;marijuana retailers instead of placing obstacles in their paths.</b></p>\n<p>“It is unfortunate that Visa is unwilling to work with the cannabis industry, which is legal in dozens of states and represents billions of dollars in economic activity, at a time when this country needs all the financial options it can use,” said&nbsp;<b>Morgan Fox</b>, media relations director for the National Cannabis Industry Association. “But it is even worse that they are trying to discourage alternative solutions that are primarily utilized by small businesses to protect themselves and their customers from theft and violent crime.”</p>","source":"lsy1606299360108","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Visa Warns It Will Crack Down On Cannabis Retailers' Use Of Cashless ATM Payment 'Scheme'</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nVisa Warns It Will Crack Down On Cannabis Retailers' Use Of Cashless ATM Payment 'Scheme'\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-12-13 22:23 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.benzinga.com/markets/cannabis/21/12/24568435/visa-warns-it-will-crack-down-on-cannabis-retailers-use-of-cashless-atm-payment-scheme><strong>Benzinga</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The burgeoning recreational marijuana industry – illegal at the federal level and in some 18 U.S. states – has faced multiple challenges throughout the years, mostly because of the Schedule 1 status ...</p>\n\n<a href=\"https://www.benzinga.com/markets/cannabis/21/12/24568435/visa-warns-it-will-crack-down-on-cannabis-retailers-use-of-cashless-atm-payment-scheme\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"V":"Visa"},"source_url":"https://www.benzinga.com/markets/cannabis/21/12/24568435/visa-warns-it-will-crack-down-on-cannabis-retailers-use-of-cashless-atm-payment-scheme","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1136475604","content_text":"The burgeoning recreational marijuana industry – illegal at the federal level and in some 18 U.S. states – has faced multiple challenges throughout the years, mostly because of the Schedule 1 status of the cannabis plant.\nThe biggest problem? Banking, of course.\nAs in life, retailers have had to find a way to work around the system. Some cannabis merchants have begun using cashless ATMs to bypass limitations on the types of sales payment cards they can legally accept.\nOne of the largest payment processors in the world, Visa Inc. (NYSE:V) recently issued a compliance memo to customers warning them that incorrectly coding point-of-sale transactions via cashless ATMs could be penalized or punished by unspecified enforcement procedure, reported Marijuana Moment.\nVisa’s warning comes on the heels of the marijuana banking reform bill that was recently chopped from Congress’ defense bill. The latest version of the Congressional defense bill left out several key provisions that were in the House-approved National Defense Authorization Act(NDAA), including the much-anticipated marijuana banking reform known as the Secure and Fair Enforcement (SAFE) Banking Act, which would protect banking and financial institutions that work with state-legal cannabis companies.\nAware Of A Scheme\nVisa’s memo from Dec. 2 obtained by Marijuana Moment revealed that the company is “aware of a scheme”in which retailers are utilizing cashless ATMs to avoid limitations on the types of sales for which payment cards are allowed to be used.\n“Cashless ATMs are POS devices driven by payment applications that mimic standalone ATMs. However, no cash disbursements are made to cardholders,” the memo clarified. “Instead, the devices are used for purchase transactions, which are miscoded as ATM cash disbursements. Purchase amounts are often rounded up to create the appearance of a cash disbursement.”\nAlthough the Visa directive does not specifically mention cannabis, it highlights that cashless ATMs (also called reverse ATMs) “are primarily marketed to merchant types that are unable to obtain payment services—whether due to the Visa Rules, the rules of other networks, or legal or regulatory prohibitions,” a category that covers marijuana businesses.\nNathaniel Gurien, CEO of Fincann,which provides financial services to cannabis businesses, estimates that thousands of marijuana retailers in the U.S. rely on this scheme.\nA Desperate Move With Catastrophic Potential\n“What keeps me up at night is that when, not if one or more eager assistant U.S. attorneys with their eye on advancement sinks their teeth into this, it has the catastrophic potential to derail our industry’s momentum and inflict great damage,” Gurien told the outlet.\nWhile it remains clear that marijuana retailers are in an untenable situation – having no access to banking services – they should be aware that relying on the use of cashless ATMs can endanger their operations.\nCorporate and banking compliance lawyer Kasim Carbide noted that violating Visa's regulations “may result in a disciplinary action against the Merchant, as well as a potential fine of $200,000 or $2,500 per day (which can be retroactively applied [sic] to and from the first day of noncompliance), and termination of the Merchant’s account.”\nWhat’s more, according to the Chicago Bar Association, miscoding cannabis sales is not only a violation of payment processors' (in this case Visa’s) policies but a “violation of federal law as well.”\nConfused Yet?\nTo exacerbate an already complicated situation, Jessica Billingsley, CEO of cannabis technology company Akerna (NASDAQ:KERN) pointed out that there are probably many businesses that are unaware that cashless ATM practice is illegal.\n“With the number of unique complexities and challenges the cannabis industry faces, many operators don’t understand that they have been sold misrepresented products that may not be legal,” Billingsley said in a statement. “The work of a few bad actors cannot undermine the important legal work the majority of ancillary providers have been doing.”\nMany cannabis advocates reacted to Visa's statement, arguing that such a large company should support marijuana retailers instead of placing obstacles in their paths.\n“It is unfortunate that Visa is unwilling to work with the cannabis industry, which is legal in dozens of states and represents billions of dollars in economic activity, at a time when this country needs all the financial options it can use,” said Morgan Fox, media relations director for the National Cannabis Industry Association. “But it is even worse that they are trying to discourage alternative solutions that are primarily utilized by small businesses to protect themselves and their customers from theft and violent crime.”","news_type":1},"isVote":1,"tweetType":1,"viewCount":1042,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0}],"lives":[]}