Here's why the government wants to double its production of illicit drugs
Since President Richard Nixon established the U.S. Drug Enforcement Administration in 1973 the agency has a long history of pursuing and prosecuting drug pushers around the globe. Nixon was convinced that illicit drug production and use was "public enemy number one" when he declared a global "war on drugs" in 1971. In the 50+ years since the war on drugs began and the DEA was formed, the U.S. has spent more than $1 trillion to enforce its drug policy, according to recent research from UPenn.Related: Elon Musk's Tesla has a new union problem on the heels of historic union win The U.S. spent $41 billion in 2022 alone, a record, on its national drug control budget, all so that it could stop, or at least curtail, the production and distribution of illicit substances. So it comes as a bit of a surprise that the DEA is now proposing an increase in production quotas for numerous drugs including marijuana compounds and psychedelics in order to "support research and clinical trials" of the substances. The agency is looking to nearly double the amount of psilocybin the government produces to 15,000 grams from the 8,000 grams it had previously requested for 2023, according to a filing in the Federal Register. It also doubled the amount of psilocyn β the psychedelic compound in psilocybin β it wants to 24,000 grams from 12,000 grams. The DEA also wants to increase the amount of d-9-THC the government produces to 628,460 grams from 383,460 grams. It is keeping its quota for 6.7 million grams of marijuana unchanged. In a possibly related filing, the DEA also requested information from the public about "destruction processes which may be used to render controlled substances to a non-retrievable state." The agency has been seeking alternatives to incineration for destroying the drugs it uses for research purposes at the behest of the Consolidated Appropriations Act that was signed by President Biden in 2022. Get investment guidance from trusted portfolio managers without the management fees. Sign up for Action Alerts PLUS now.
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Since President Richard Nixon established the U.S. Drug Enforcement Administration in 1973 the agency has a long history of pursuing and prosecuting drug pushers around the globe. Nixon was convinced that illicit drug production and use was "public enemy number one" when he declared a global "war on drugs" in 1971. In the 50+ years since the war on drugs began and the DEA was formed, the U.S. has spent more than $1 trillion to enforce its drug policy, according to recent research from UPenn.Related: Elon Musk's Tesla has a new union problem on the heels of historic union win The U.S. spent $41 billion in 2022 alone, a record, on its national drug control budget, all so that it could stop, or at least curtail, the production and distribution of illicit substances. So it comes as a bit of a surprise that the DEA is now proposing an increase in production quotas for numerous drugs including marijuana compounds and psychedelics in order to "support research and clinical trials" of the substances. The agency is looking to nearly double the amount of psilocybin the government produces to 15,000 grams from the 8,000 grams it had previously requested for 2023, according to a filing in the Federal Register. It also doubled the amount of psilocyn β the psychedelic compound in psilocybin β it wants to 24,000 grams from 12,000 grams. The DEA also wants to increase the amount of d-9-THC the government produces to 628,460 grams from 383,460 grams. It is keeping its quota for 6.7 million grams of marijuana unchanged. In a possibly related filing, the DEA also requested information from the public about "destruction processes which may be used to render controlled substances to a non-retrievable state." The agency has been seeking alternatives to incineration for destroying the drugs it uses for research purposes at the behest of the Consolidated Appropriations Act that was signed by President Biden in 2022. Get investment guidance from trusted portfolio managers without the management fees. Sign up for Action Alerts PLUS now.
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TheStreet
Here's why the government wants to double its production of illicit drugs
The government wants to produce a lot more drugs like cannabis and psilocybin this year than it initially anticipated.
*ΠΠ²Π°Π½ΠΈΡ Π² Π°ΡΠΌΠΈΠΈ Π‘Π‘Π‘Π *
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ΠΠ²Π°Π½ΠΈΡ Π² Π°ΡΠΌΠΈΠΈ Π‘Π‘Π‘Π
Π£Π·Π½Π°ΠΉΡΠ΅ ΠΎ ΠΠ²Π°Π½ΠΈΡ Π² Π°ΡΠΌΠΈΠΈ Π‘Π‘Π‘Π Π² ΡΠ½ΡΠΈΠΊΠ»ΠΎΠΏΠ΅Π΄ΠΈΠΈ ΠΌΠ°Π³Π°Π·ΠΈΠ½Π° Π€ΠΎΡΠΌΠ° ΠΎΠ΄Π΅ΠΆΠ΄Ρ.
ΠΠ²Π°Π½ΠΈΡ Π² Π°ΡΠΌΠΈΠΈ Π‘Π‘Π‘Π
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ΠΠ²Π°Π½ΠΈΡ Π² Π°ΡΠΌΠΈΠΈ Π‘Π‘Π‘Π
Π£Π·Π½Π°ΠΉΡΠ΅ ΠΎ ΠΠ²Π°Π½ΠΈΡ Π² Π°ΡΠΌΠΈΠΈ Π‘Π‘Π‘Π Π² ΡΠ½ΡΠΈΠΊΠ»ΠΎΠΏΠ΅Π΄ΠΈΠΈ ΠΌΠ°Π³Π°Π·ΠΈΠ½Π° Π€ΠΎΡΠΌΠ° ΠΎΠ΄Π΅ΠΆΠ΄Ρ.
*G2 scrim schedule released*
Romain just released their entire scrim schedule including opponents, day stamps and records via twitter: Pre-Season/Winter Spring MSI Summer Season Finale Worlds submitted by /u/Blacki1994 to r/leagueoflegends [link] [comments]
[Read more...](https://www.reddit.com/r/leagueoflegends/comments/17kgyn6/g2_scrim_schedule_released/)
Romain just released their entire scrim schedule including opponents, day stamps and records via twitter: Pre-Season/Winter Spring MSI Summer Season Finale Worlds submitted by /u/Blacki1994 to r/leagueoflegends [link] [comments]
[Read more...](https://www.reddit.com/r/leagueoflegends/comments/17kgyn6/g2_scrim_schedule_released/)
Reddit
From the leagueoflegends community on Reddit: G2 scrim schedule released
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G2 scrim schedule released
Romain just released their entire scrim schedule including opponents, day stamps and records via twitter: Pre-Season/Winter Spring MSI Summer Season Finale Worlds submitted by /u/Blacki1994 to r/leagueoflegends link comments
Read more...
Romain just released their entire scrim schedule including opponents, day stamps and records via twitter: Pre-Season/Winter Spring MSI Summer Season Finale Worlds submitted by /u/Blacki1994 to r/leagueoflegends link comments
Read more...
Reddit
From the leagueoflegends community on Reddit: G2 scrim schedule released
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*Daily Deals (10-31-2023)*
Black Friday is just a few weeks away, but you may not have to wait to get Black Friday pricing on some devices. This week Amazon is running deep discounts on Fire TV media streamers as well as some Fire tablets. And Best Buy is selling an HP Chromebook Plus 14 inch convertible for $379 [β¦] The post Daily Deals (10-31-2023) appeared first on Liliputing.
[Read more...](https://liliputing.com/daily-deals-10-31-2023/)
Black Friday is just a few weeks away, but you may not have to wait to get Black Friday pricing on some devices. This week Amazon is running deep discounts on Fire TV media streamers as well as some Fire tablets. And Best Buy is selling an HP Chromebook Plus 14 inch convertible for $379 [β¦] The post Daily Deals (10-31-2023) appeared first on Liliputing.
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*Targetβs $10 Mini Wreaths Are So Cute, Theyβre Sure to Sell Out*
Youβll want one of each. READ MORE...
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Youβll want one of each. READ MORE...
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*ΠΡΡΡΠ°Π½ΡΡΠΊΠΈΠ΅ ΠΏΠΎΠ³ΠΎΠ½Ρ*
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Forma-Odezhda
ΠΡΡΡΠ°Π½ΡΡΠΊΠΈΠ΅ ΠΏΠΎΠ³ΠΎΠ½Ρ
Π£Π·Π½Π°ΠΉΡΠ΅ ΠΎ ΠΡΡΡΠ°Π½ΡΡΠΊΠΈΠ΅ ΠΏΠΎΠ³ΠΎΠ½Ρ Π² ΡΠ½ΡΠΈΠΊΠ»ΠΎΠΏΠ΅Π΄ΠΈΠΈ ΠΌΠ°Π³Π°Π·ΠΈΠ½Π° Π€ΠΎΡΠΌΠ° ΠΎΠ΄Π΅ΠΆΠ΄Ρ.
ΠΡΡΡΠ°Π½ΡΡΠΊΠΈΠ΅ ΠΏΠΎΠ³ΠΎΠ½Ρ
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Forma-Odezhda
ΠΡΡΡΠ°Π½ΡΡΠΊΠΈΠ΅ ΠΏΠΎΠ³ΠΎΠ½Ρ
Π£Π·Π½Π°ΠΉΡΠ΅ ΠΎ ΠΡΡΡΠ°Π½ΡΡΠΊΠΈΠ΅ ΠΏΠΎΠ³ΠΎΠ½Ρ Π² ΡΠ½ΡΠΈΠΊΠ»ΠΎΠΏΠ΅Π΄ΠΈΠΈ ΠΌΠ°Π³Π°Π·ΠΈΠ½Π° Π€ΠΎΡΠΌΠ° ΠΎΠ΄Π΅ΠΆΠ΄Ρ.
*This TikToker Turned Thrift Finds into a Charming Gingerbread Village*
Keep your eyes peeled the next time youβre at the thrift store. READ MORE...
[Read more...](https://www.apartmenttherapy.com/gingerbread-village-diy-tiktok-37333570?utm_source=RSS&utm_medium=feed&utm_campaign=Category%2FChannel%3A+main)
Keep your eyes peeled the next time youβre at the thrift store. READ MORE...
[Read more...](https://www.apartmenttherapy.com/gingerbread-village-diy-tiktok-37333570?utm_source=RSS&utm_medium=feed&utm_campaign=Category%2FChannel%3A+main)
*ΠΠΎΠ΄ΠΊΠ°ΡΡ ΠΠ°ΠΉΡΡ
Π°ΠΊΠ΅ΡΠ°: ΠΏΠΎΡΠ΅ΠΌΡ ΠΌΠΎΡΠ΅ ΡΠΎΠ»ΡΠ½ΠΎΠ΅*
ΠΡΠΎΠ΄ΠΎΠ»ΠΆΠ°Π΅ΠΌ ΠΎΡΠ²Π΅ΡΠ°ΡΡ Π½Π° ΠΏΡΠΎΡΡΡΠ΅ Π²ΠΎΠΏΡΠΎΡΡ, ΠΊΠΎΡΠΎΡΡΠ΅ ΠΌΠ½ΠΎΠ³ΠΈΡ ΠΌΠΎΠ³ΡΡ ΠΏΠΎΡΡΠ°Π²ΠΈΡΡ Π² ΡΡΠΏΠΈΠΊ.
[Read more...](https://lifehacker.ru/ifehacker-podcast-1106/)
ΠΡΠΎΠ΄ΠΎΠ»ΠΆΠ°Π΅ΠΌ ΠΎΡΠ²Π΅ΡΠ°ΡΡ Π½Π° ΠΏΡΠΎΡΡΡΠ΅ Π²ΠΎΠΏΡΠΎΡΡ, ΠΊΠΎΡΠΎΡΡΠ΅ ΠΌΠ½ΠΎΠ³ΠΈΡ ΠΌΠΎΠ³ΡΡ ΠΏΠΎΡΡΠ°Π²ΠΈΡΡ Π² ΡΡΠΏΠΈΠΊ.
[Read more...](https://lifehacker.ru/ifehacker-podcast-1106/)
*Me irl*
submitted by /u/FROMAGER2091 to r/me_irl [link] [comments]
[Read more...](https://www.reddit.com/r/me_irl/comments/17kklda/me_irl/)
submitted by /u/FROMAGER2091 to r/me_irl [link] [comments]
[Read more...](https://www.reddit.com/r/me_irl/comments/17kklda/me_irl/)
Reddit
From the me_irl community on Reddit: Me irl
Explore this post and more from the me_irl community
*ΠΠ²Π°Π½ΠΈΡ Π² Π°ΡΠΌΠΈΠΈ Π‘Π‘Π‘Π *
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Forma-Odezhda
ΠΠ²Π°Π½ΠΈΡ Π² Π°ΡΠΌΠΈΠΈ Π‘Π‘Π‘Π
Π£Π·Π½Π°ΠΉΡΠ΅ ΠΎ ΠΠ²Π°Π½ΠΈΡ Π² Π°ΡΠΌΠΈΠΈ Π‘Π‘Π‘Π Π² ΡΠ½ΡΠΈΠΊΠ»ΠΎΠΏΠ΅Π΄ΠΈΠΈ ΠΌΠ°Π³Π°Π·ΠΈΠ½Π° Π€ΠΎΡΠΌΠ° ΠΎΠ΄Π΅ΠΆΠ΄Ρ.
ΠΠ²Π°Π½ΠΈΡ Π² Π°ΡΠΌΠΈΠΈ Π‘Π‘Π‘Π
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Forma-Odezhda
ΠΠ²Π°Π½ΠΈΡ Π² Π°ΡΠΌΠΈΠΈ Π‘Π‘Π‘Π
Π£Π·Π½Π°ΠΉΡΠ΅ ΠΎ ΠΠ²Π°Π½ΠΈΡ Π² Π°ΡΠΌΠΈΠΈ Π‘Π‘Π‘Π Π² ΡΠ½ΡΠΈΠΊΠ»ΠΎΠΏΠ΅Π΄ΠΈΠΈ ΠΌΠ°Π³Π°Π·ΠΈΠ½Π° Π€ΠΎΡΠΌΠ° ΠΎΠ΄Π΅ΠΆΠ΄Ρ.
*Demar =?UTF-8?B?0JrRg9C/0LjRgtGMIC0g0KTQvtGA0LzQsCDQvtC00LXQttC00Ys=?=*
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Forma-Odezhda
ΠΡΠΏΠΈΡΡ Π’ΠΎΠ²Π°ΡΡ Demar ΠΡΠΏΠΈΡΡ
ΠΡΠΏΠΈΡΡ Π’ΠΎΠ²Π°ΡΡ
ΠΡΡΠΎΡΠΈΡ ΠΏΠΎΠ»ΡΡΠΊΠΎΠΉ ΠΊΠΎΠΌΠΏΠ°Π½ΠΈΠΈ DEMAR Π½Π°ΡΠ°Π»Π°ΡΡ Π² 1978 Π³ΠΎΠ΄Ρ. ΠΡΠ΅Π΄ΠΏΡΠΈΡΡΠΈΠ΅ Π·Π°Π½ΠΈΠΌΠ°Π΅ΡΡΡ ΠΏΡΠΎΠΈΠ·Π²ΠΎΠ΄ΡΡΠ²ΠΎΠΌ Π΄Π΅ΡΡΠΊΠΎΠΉ ΠΈ Π²Π·ΡΠΎΡΠ»ΠΎΠΉ ΠΎΠ±ΡΠ²ΠΈ Π²ΡΡΠΎΠΊΠΎΠ³ΠΎ ΠΊΠ°ΡΠ΅ΡΡΠ²Π°. ΠΠΈΠ½Π°ΠΌΠΈΡΠ½ΠΎ ΡΠ°Π·Π²ΠΈΠ²Π°ΡΡΡ, ΠΊΠΎΠΌΠΏΠ°Π½ΠΈΡ ΠΏΠΎΠ»ΡΡΠΈΠ»Π° Π·Π°ΡΠ»ΡΠΆΠ΅Π½Π½ΠΎΠ΅ ΠΏΡΠΈΠ·Π½Π°Π½ΠΈΠ΅ ΠΈ ΠΏΠΎΡΡΠ΅Π±ΠΈΡΠ΅Π»ΡΡΠΊΠΈΠ΅ ΡΠΈΠΌΠΏΠ°ΡΠΈΠΈ Π½Π΅ ΡΠΎΠ»ΡΠΊΠΎ
ΠΡΡΠΎΡΠΈΡ ΠΏΠΎΠ»ΡΡΠΊΠΎΠΉ ΠΊΠΎΠΌΠΏΠ°Π½ΠΈΠΈ DEMAR Π½Π°ΡΠ°Π»Π°ΡΡ Π² 1978 Π³ΠΎΠ΄Ρ. ΠΡΠ΅Π΄ΠΏΡΠΈΡΡΠΈΠ΅ Π·Π°Π½ΠΈΠΌΠ°Π΅ΡΡΡ ΠΏΡΠΎΠΈΠ·Π²ΠΎΠ΄ΡΡΠ²ΠΎΠΌ Π΄Π΅ΡΡΠΊΠΎΠΉ ΠΈ Π²Π·ΡΠΎΡΠ»ΠΎΠΉ ΠΎΠ±ΡΠ²ΠΈ Π²ΡΡΠΎΠΊΠΎΠ³ΠΎ ΠΊΠ°ΡΠ΅ΡΡΠ²Π°. ΠΠΈΠ½Π°ΠΌΠΈΡΠ½ΠΎ ΡΠ°Π·Π²ΠΈΠ²Π°ΡΡΡ, ΠΊΠΎΠΌΠΏΠ°Π½ΠΈΡ ΠΏΠΎΠ»ΡΡΠΈΠ»Π° Π·Π°ΡΠ»ΡΠΆΠ΅Π½Π½ΠΎΠ΅ ΠΏΡΠΈΠ·Π½Π°Π½ΠΈΠ΅ ΠΈ ΠΏΠΎΡΡΠ΅Π±ΠΈΡΠ΅Π»ΡΡΠΊΠΈΠ΅ ΡΠΈΠΌΠΏΠ°ΡΠΈΠΈ Π½Π΅ ΡΠΎΠ»ΡΠΊΠΎ
Demar =?UTF-8?B?0JrRg9C/0LjRgtGMIC0g0KTQvtGA0LzQsCDQvtC00LXQttC00Ys=?=
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Forma-Odezhda
ΠΡΠΏΠΈΡΡ Π’ΠΎΠ²Π°ΡΡ Demar ΠΡΠΏΠΈΡΡ
ΠΡΠΏΠΈΡΡ Π’ΠΎΠ²Π°ΡΡ
ΠΡΡΠΎΡΠΈΡ ΠΏΠΎΠ»ΡΡΠΊΠΎΠΉ ΠΊΠΎΠΌΠΏΠ°Π½ΠΈΠΈ DEMAR Π½Π°ΡΠ°Π»Π°ΡΡ Π² 1978 Π³ΠΎΠ΄Ρ. ΠΡΠ΅Π΄ΠΏΡΠΈΡΡΠΈΠ΅ Π·Π°Π½ΠΈΠΌΠ°Π΅ΡΡΡ ΠΏΡΠΎΠΈΠ·Π²ΠΎΠ΄ΡΡΠ²ΠΎΠΌ Π΄Π΅ΡΡΠΊΠΎΠΉ ΠΈ Π²Π·ΡΠΎΡΠ»ΠΎΠΉ ΠΎΠ±ΡΠ²ΠΈ Π²ΡΡΠΎΠΊΠΎΠ³ΠΎ ΠΊΠ°ΡΠ΅ΡΡΠ²Π°. ΠΠΈΠ½Π°ΠΌΠΈΡΠ½ΠΎ ΡΠ°Π·Π²ΠΈΠ²Π°ΡΡΡ, ΠΊΠΎΠΌΠΏΠ°Π½ΠΈΡ ΠΏΠΎΠ»ΡΡΠΈΠ»Π° Π·Π°ΡΠ»ΡΠΆΠ΅Π½Π½ΠΎΠ΅ ΠΏΡΠΈΠ·Π½Π°Π½ΠΈΠ΅ ΠΈ ΠΏΠΎΡΡΠ΅Π±ΠΈΡΠ΅Π»ΡΡΠΊΠΈΠ΅ ΡΠΈΠΌΠΏΠ°ΡΠΈΠΈ Π½Π΅ ΡΠΎΠ»ΡΠΊΠΎ
ΠΡΡΠΎΡΠΈΡ ΠΏΠΎΠ»ΡΡΠΊΠΎΠΉ ΠΊΠΎΠΌΠΏΠ°Π½ΠΈΠΈ DEMAR Π½Π°ΡΠ°Π»Π°ΡΡ Π² 1978 Π³ΠΎΠ΄Ρ. ΠΡΠ΅Π΄ΠΏΡΠΈΡΡΠΈΠ΅ Π·Π°Π½ΠΈΠΌΠ°Π΅ΡΡΡ ΠΏΡΠΎΠΈΠ·Π²ΠΎΠ΄ΡΡΠ²ΠΎΠΌ Π΄Π΅ΡΡΠΊΠΎΠΉ ΠΈ Π²Π·ΡΠΎΡΠ»ΠΎΠΉ ΠΎΠ±ΡΠ²ΠΈ Π²ΡΡΠΎΠΊΠΎΠ³ΠΎ ΠΊΠ°ΡΠ΅ΡΡΠ²Π°. ΠΠΈΠ½Π°ΠΌΠΈΡΠ½ΠΎ ΡΠ°Π·Π²ΠΈΠ²Π°ΡΡΡ, ΠΊΠΎΠΌΠΏΠ°Π½ΠΈΡ ΠΏΠΎΠ»ΡΡΠΈΠ»Π° Π·Π°ΡΠ»ΡΠΆΠ΅Π½Π½ΠΎΠ΅ ΠΏΡΠΈΠ·Π½Π°Π½ΠΈΠ΅ ΠΈ ΠΏΠΎΡΡΠ΅Π±ΠΈΡΠ΅Π»ΡΡΠΊΠΈΠ΅ ΡΠΈΠΌΠΏΠ°ΡΠΈΠΈ Π½Π΅ ΡΠΎΠ»ΡΠΊΠΎ
*ΠΠΊΡΠ΅Π»ΡΠ±Π°Π½Ρ*
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Forma-Odezhda
ΠΠΊΡΠ΅Π»ΡΠ±Π°Π½Ρ
Π£Π·Π½Π°ΠΉΡΠ΅ ΠΎ ΠΠΊΡΠ΅Π»ΡΠ±Π°Π½Ρ Π² ΡΠ½ΡΠΈΠΊΠ»ΠΎΠΏΠ΅Π΄ΠΈΠΈ ΠΌΠ°Π³Π°Π·ΠΈΠ½Π° Π€ΠΎΡΠΌΠ° ΠΎΠ΄Π΅ΠΆΠ΄Ρ.
ΠΠΊΡΠ΅Π»ΡΠ±Π°Π½Ρ
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Forma-Odezhda
ΠΠΊΡΠ΅Π»ΡΠ±Π°Π½Ρ
Π£Π·Π½Π°ΠΉΡΠ΅ ΠΎ ΠΠΊΡΠ΅Π»ΡΠ±Π°Π½Ρ Π² ΡΠ½ΡΠΈΠΊΠ»ΠΎΠΏΠ΅Π΄ΠΈΠΈ ΠΌΠ°Π³Π°Π·ΠΈΠ½Π° Π€ΠΎΡΠΌΠ° ΠΎΠ΄Π΅ΠΆΠ΄Ρ.
*Twitter valuation slips to $19 billion, less than half of what Musk paid*
TheStreet's J.D. Durkin brings the latest business headlines from the floor of the New York Stock Exchange as markets close for trading Tuesday, October 31. Full Video Transcript Below: I'm J.D. Durkin, reporting from the New York Stock Exchange. Stocks were in the green to close out today's session. The Dow closed up 123 points, the Nasdaq closed up four tenths of a percent, and the S&P closed six tenths of a percent higher. While stocks did see some green, all three major averages ended the month in the red for the third straight month. The Federal Reserve's two-day policy meeting kicked off today, and investors are looking ahead to Chair Jerome Powell's press conference Wednesday. While Wall Street is pricing in a 97 percent chance that the central bank will hold rates steady, investors will be paying close attention to Powell's comments for a gauge on the future of interest rates. Turning to tech, it's been a roller coaster ride, to say the least, for Elon Musk since he purchased X, then Twitter, a year ago. But from an investment standpoint, it's been a total loss. Musk agreed to purchase the company for $54.20 a share, giving the social media company a market value of $44 billion. Now, almost exactly a year to the day when Musk acquired the firm, its value has plummeted by 55 percent, meaning X is now worth about $19 billion. But Fidelity, which contributed $300 million to Musk's purchase, says it thinks the company is worth 65 percent less than what it was sold for. Last November, Musk joked about the purchase, using the platform to say, "How do you make a small fortune in social media? Start out with a large one." But company brass isn't letting a few numbers ruin its fun, with new CEO Linda Yaccarino telling employees just last week, "For people that don't see our vision yet, people that don't see what's happening here at X, stop giving any of that oxygen. Don't pay attention to it." That'll do it for your daily briefing. From the New York Stock Exchange, I'm J.D. Durkin with TheStreet.
[Read more...](https://www.thestreet.com/video/twitter-valuation-slips-to-19-billion-less-than-half-of-what-musk-paid)
TheStreet's J.D. Durkin brings the latest business headlines from the floor of the New York Stock Exchange as markets close for trading Tuesday, October 31. Full Video Transcript Below: I'm J.D. Durkin, reporting from the New York Stock Exchange. Stocks were in the green to close out today's session. The Dow closed up 123 points, the Nasdaq closed up four tenths of a percent, and the S&P closed six tenths of a percent higher. While stocks did see some green, all three major averages ended the month in the red for the third straight month. The Federal Reserve's two-day policy meeting kicked off today, and investors are looking ahead to Chair Jerome Powell's press conference Wednesday. While Wall Street is pricing in a 97 percent chance that the central bank will hold rates steady, investors will be paying close attention to Powell's comments for a gauge on the future of interest rates. Turning to tech, it's been a roller coaster ride, to say the least, for Elon Musk since he purchased X, then Twitter, a year ago. But from an investment standpoint, it's been a total loss. Musk agreed to purchase the company for $54.20 a share, giving the social media company a market value of $44 billion. Now, almost exactly a year to the day when Musk acquired the firm, its value has plummeted by 55 percent, meaning X is now worth about $19 billion. But Fidelity, which contributed $300 million to Musk's purchase, says it thinks the company is worth 65 percent less than what it was sold for. Last November, Musk joked about the purchase, using the platform to say, "How do you make a small fortune in social media? Start out with a large one." But company brass isn't letting a few numbers ruin its fun, with new CEO Linda Yaccarino telling employees just last week, "For people that don't see our vision yet, people that don't see what's happening here at X, stop giving any of that oxygen. Don't pay attention to it." That'll do it for your daily briefing. From the New York Stock Exchange, I'm J.D. Durkin with TheStreet.
[Read more...](https://www.thestreet.com/video/twitter-valuation-slips-to-19-billion-less-than-half-of-what-musk-paid)
TheStreet
Twitter valuation slips to $19 billion, less than half of what Musk paid
X, formerly Twitter, has seen its valuation plummet to $19 billion, down significantly from the $44 billion Elon Musk paid.
Twitter valuation slips to $19 billion, less than half of what Musk paid
TheStreet's J.D. Durkin brings the latest business headlines from the floor of the New York Stock Exchange as markets close for trading Tuesday, October 31. Full Video Transcript Below: I'm J.D. Durkin, reporting from the New York Stock Exchange. Stocks were in the green to close out today's session. The Dow closed up 123 points, the Nasdaq closed up four tenths of a percent, and the S&P closed six tenths of a percent higher. While stocks did see some green, all three major averages ended the month in the red for the third straight month. The Federal Reserve's two-day policy meeting kicked off today, and investors are looking ahead to Chair Jerome Powell's press conference Wednesday. While Wall Street is pricing in a 97 percent chance that the central bank will hold rates steady, investors will be paying close attention to Powell's comments for a gauge on the future of interest rates. Turning to tech, it's been a roller coaster ride, to say the least, for Elon Musk since he purchased X, then Twitter, a year ago. But from an investment standpoint, it's been a total loss. Musk agreed to purchase the company for $54.20 a share, giving the social media company a market value of $44 billion. Now, almost exactly a year to the day when Musk acquired the firm, its value has plummeted by 55 percent, meaning X is now worth about $19 billion. But Fidelity, which contributed $300 million to Musk's purchase, says it thinks the company is worth 65 percent less than what it was sold for. Last November, Musk joked about the purchase, using the platform to say, "How do you make a small fortune in social media? Start out with a large one." But company brass isn't letting a few numbers ruin its fun, with new CEO Linda Yaccarino telling employees just last week, "For people that don't see our vision yet, people that don't see what's happening here at X, stop giving any of that oxygen. Don't pay attention to it." That'll do it for your daily briefing. From the New York Stock Exchange, I'm J.D. Durkin with TheStreet.
Read more...
TheStreet's J.D. Durkin brings the latest business headlines from the floor of the New York Stock Exchange as markets close for trading Tuesday, October 31. Full Video Transcript Below: I'm J.D. Durkin, reporting from the New York Stock Exchange. Stocks were in the green to close out today's session. The Dow closed up 123 points, the Nasdaq closed up four tenths of a percent, and the S&P closed six tenths of a percent higher. While stocks did see some green, all three major averages ended the month in the red for the third straight month. The Federal Reserve's two-day policy meeting kicked off today, and investors are looking ahead to Chair Jerome Powell's press conference Wednesday. While Wall Street is pricing in a 97 percent chance that the central bank will hold rates steady, investors will be paying close attention to Powell's comments for a gauge on the future of interest rates. Turning to tech, it's been a roller coaster ride, to say the least, for Elon Musk since he purchased X, then Twitter, a year ago. But from an investment standpoint, it's been a total loss. Musk agreed to purchase the company for $54.20 a share, giving the social media company a market value of $44 billion. Now, almost exactly a year to the day when Musk acquired the firm, its value has plummeted by 55 percent, meaning X is now worth about $19 billion. But Fidelity, which contributed $300 million to Musk's purchase, says it thinks the company is worth 65 percent less than what it was sold for. Last November, Musk joked about the purchase, using the platform to say, "How do you make a small fortune in social media? Start out with a large one." But company brass isn't letting a few numbers ruin its fun, with new CEO Linda Yaccarino telling employees just last week, "For people that don't see our vision yet, people that don't see what's happening here at X, stop giving any of that oxygen. Don't pay attention to it." That'll do it for your daily briefing. From the New York Stock Exchange, I'm J.D. Durkin with TheStreet.
Read more...
TheStreet
Twitter valuation slips to $19 billion, less than half of what Musk paid
X, formerly Twitter, has seen its valuation plummet to $19 billion, down significantly from the $44 billion Elon Musk paid.