Analysts Are Projecting "Safe-Haven" Stock Will Nearly Double

Already up nearly 50% in the last 6 months this gold company has an analyst target nearly twice its current price. With 40+ investment banks and funds already invested it's no wonder this $1.3B company (trading under $2) is grabbing investor attention.

On the first day without X, many Brazilians say they feel disconnected from the world

GABRIELA SÁ PESSOA
August 31, 2024

SAO PAULO (AP) -- The blocking of social media platform X in Brazil divided users and politicians over the legitimacy of the ban, and many Brazilians on Saturday had difficulty and doubts over navigating other social media in its absence.

The shutdown of Elon Musk's platform started early Saturday, making it largely inaccessible on both the web and through mobile apps after the billionaire refused to name a legal representative to the country, missing a deadline imposed by Supreme Court Justice Alexandre de Moraes. The blockade marks an escalation in a monthslong feud between Musk and de Moraes over free speech, far-right accounts and misinformation.

Brazil is one of the biggest markets for X, with tens of millions of users.

"I've got the feeling that I have no idea what's happening in the world right now. Bizarre," entertainment writer and heavy X user Chico Barney wrote on Threads. Threads is a text-based app developed by Instagram that Barney was using as an alternative. "This Threads algorithm is like an all-you-can-eat restaurant where the waiter keeps serving things I would never order."

Bluesky, a social media platform that was launched last year as an alternative to X and other more established sites, has seen a large influx of Brazilians in the past couple of days. The company said Friday it has seen about 200,000 new users from Brazil sign up during that time, and the number "continues to grow by the minute." Brazilian users are also setting records for activities such as follows and likes, Bluesky said.

Previous users of other platforms welcomed Brazilians to their ranks. "Hello literally everyone in Brazil," a user wrote on Threads. "We're a lot nicer than Twitter here," said another.

Platform migration isn't new for Brazilians. They were huge adopters of Orkut and, when Orkut went kaput, they very gladly moved to other platforms.

X is not as popular in Brazil as Facebook, Instagram, YouTube or TikTok. However, it remains an important platform on which Brazilians engage in political debates and is highly influential among politicians, journalists and other opinion makers.

It's also where they share their sense of humor. Many of the country's most famous memes originate from posts on X before spreading to other social networks. Last week, for instance, Brazilians collaboratively crafted an absurd storyline for a fictional telenovela, complete with a theme song created using artificial intelligence tools.

Pop stars and their fanbases were also hit by Brazilians being left off the platform.

"Wait a lot of my fan pages are Brazilian!!! Come back hold up!!," Cardi B said Friday on X. A fan page dedicated to Timothée Chalamet, known by the handle TimotheeUpdates, said it would temporarily cease updating as all of its administrators are Brazilian.

De Moraes said X will stay suspended until it complies with his orders, and he also set a daily fine of 50,000 reais ($8,900) for people or companies using virtual private networks, or VPNs, to access it. Some legal experts questioned the grounds for that decision and how it would be enforced. Others suggested the move was authoritarian.

The Brazilian Bar Association said Friday in a statement that it would request the Supreme Court review the fines imposed on all citizens using VPNs or other means to access X without due process. Brazil's bar association argued that sanctions should never be imposed summarily before ensuring an adversarial process and the right to full defense.

"I've used VPNs a lot in authoritarian countries like China to continue accessing news sites and social networks," Maurício Santoro, a political science professor at the State University of Rio de Janeiro, said on the platform before its shutdown. "It never occurred to me that this type of tool would be banned in Brazil. It's dystopian."

A search Friday on X showed hundreds of Brazilian users inquiring about VPNs that could potentially enable them to continue using the platform by making it appear they are logging on from outside the country.

"Tyrants want to turn Brazil into another commie dictatorship but we won't back down. I repeat: do not vote on those who don't respect free speech. Orwell was right," right-wing congressman Nikolas Ferreira, one of former President Jair Bolsonaro's closest allies, published before X went off. Musk replied with an emoji suggesting agreement: "100".

Ferreira is a 28-year-old YouTuber who received the most votes of the 513 elected federal lawmakers in the 2022 election. De Moraes ordered the block of his social media accounts after a mob of Bolsonaro supporters attacked Brazil's Congress, presidential palace and Supreme Court in January 2023 seeking to overturn the election.

Lawmaker Bia Kicis said "the consequences of Alexandre de Moraes' attacks to Elon Musk, X and Starlink will be regrettable for Brazilians." She also urged Rodrigo Pacheco, the president of the country's Senate, to act. Kicis has repeatedly urged Pacheco to open impeachment proceedings against the Supreme Court justice.

"We need to leave this state of apathy and stop the worst from happening," the pro-Bolsonaro lawmaker, whose profiles were temporarily blocked by de Moraes in 2022, also said.

The former president said Saturday on Instagram that X's departure from Brazil was "another blow to our freedom and legal security."

"It not only affects our freedom of expression, but also undermines the confidence of international companies in operating on Brazilian soil, with impacts ranging from national security to the quality of the information that reaches our citizens," Bolsonaro said.

On Friday, President Luiz Inácio Lula da Silva backed de Moraes' decision and took aim at Musk for positioning himself as though he was above the law during an interview with Radio MaisPB.

"Any citizen, from anywhere in the world, who has investments in Brazil, is subject to the Brazilian Constitution and Brazilian laws. Therefore, if the Supreme Court has made a decision for citizens to comply with certain things, they either have to comply or take another course of action," Lula said. "It's not because the guy has a lot of money that he can disrespect it."

Ana Júlia Alves de Oliveira, an 18-year-old student, shared that many young people like her no longer watch newscasts or read newspapers, relying solely on social media platforms like X for their news. Without this platform, she felt disconnected.

"I kind of lost touch with what's going on around the world," she said. "I saw a lot of entertainment there too, so this is a new reality for me."

___

Ortutay reported from San Francisco and Biller from Rio de Janeiro. Associated Press writers Mauricio Savarese and Felipe Campos Mello contributed from Sao Paulo.

Continue Reading...

Popular

Top AI Stock (It's Not MSFT, GOOGL, AMZN or AAPL) - Ad

Ross Givens says the #1 artificial intelligence stock is NOT Microsoft, Google, Amazon or Apple, not even Nvidia. Nope -- his research is pointing to a tiny, under-the-radar stock that's trading for just a few dollars right now... And has lined up major partnerships with Honda, Netflix, Pandora, Mercedes Benz and many, many others.

Hackers demand $6 million for files stolen from Seattle airport operator in cyberattack

WASHINGTON (AP) — Hackers are demanding $6 million in bitcoin from the operator of the Seattle-Tacoma International Airport for documents they stole during a cyberattack last month and posted on the dark web this week, an airport official said Wednesday.

Could You Retire on a Single AI Stock (Trading for Only $15)? - Ad

Imagine what the perfect AI stock would look like...forefront of AI trend...virtual monopoly in its market... exempt from federal taxes. As you're about to see, this perfect AI stock does exist, and is currently trading for only $15. With just one investment, you could potentially set yourself up for massive financial gains.

Radio Nikki: Haley launching a weekly SiriusXM radio talk show at least through January

NEW YORK (AP) — Former Republican Nikki Haley is launching her own radio talk show next week on SiriusXM that's set to air once a week at least through the inauguration of a new president.

Embed-Chart-Federal Reserve, ADVISORY

FEDERAL RESERVE — Chart. This AP digital embed chart shows the benchmark federal funds rate since 2003, including the Federal Reserve's decision Wednesday to cut the rate by a half-point, the first cut since 2020. This chart is current as of Sept. 18, 2024, and will be updated as events warrant. Sources: AP reports; Federal Reserve Bank of St. Louis.

The "Amazon Coin" -- To Be Bigger Than Bitcoin? - Ad

Starting September 23rd, this tiny 3-cent crypto could partner with one of the biggest companies in the world... Amazon. Declassified video reveals "Amazon Coin" ahead of $27 trillion crypto revolution. One team of crypto experts have identified it as the most promising crypto of 2024.

Scaramucci Says Melania Trump Would Prefer Kamala Harris To Donald Trump As President

Anthony Scaramucci has claimed that Melania Trump would rather see Kamala Harris win the presidency than her own husband.

UK inflation is steady at 2.2% ahead of Bank of England's next rate decision

LONDON (AP) — Inflation in the U.K. held steady at an annual rate of 2.2% in August, with higher air fares offset by lower fuel costs and restaurant and hotel bills, official figures showed Wednesday.

Prepare for President Kamala - Ad

I won't be voting for her. Even so, I'm worried VP Kamala Harris could pull off a victory and become our next president. And it would be much worse than anything you might expect--especially when it comes to your money. Because likely WON'T get a second chance at recovering the money you stand to lose if she takes power.

Top 3 Tech And Telecom Stocks That May Rocket Higher This Quarter

The most oversold stocks in the communication services sector presents an opportunity to buy into undervalued companies.

Don't Tell ANYONE About This Altcoin (Until It Pops)... - Ad

Quiet now! This governance token could be the sleeping giant of the crypto world... In the next bull market, this "DeFi 2.0" powerhouse might soar 10x... 50x... perhaps even 100x.

Pagers that exploded in Lebanon and Syria were made by a company in Budapest, Gold Apollo says

TAIPEI, Taiwan (AP) — Taiwanese company Gold Apollo said Wednesday that it authorized its brand on the but that another company based in Budapest manufactured them.

Red-Hot AI Stock "Disappearing" Soon? (Get In Now) - Ad

Right now, there's an AI stock on the verge of being snapped up by a giant company... And when it does, its price could go flying. The potential gains could be astronomical. You want to get in before that happens... Otherwise the opportunity could pass you by. Your window to buy in is right now...

SEC Approves Major Overhaul Of US Equity Markets, Largest Reform In Two Decades

The SEC unanimously votes to adopt new rules for pricing stocks under a penny, part of a larger market reform package. Changes aim to promote competition and reduce transaction costs.

President Trump and Elon Musk Issue Stark Warning - Ad

Both President Trump and Elon Musk are warning about something that could send the market down 50%, real estate down 40% and savings accounts down 30%.

Walmart Division Sam's Club Raises Wages For Hourly Associates: A Strategic Move To Stay Ahead In Retail

Walmart Division Sam's Club boosts pay for frontline workers and provides guidance for their financial future. This leads to more productive and loyal employees.

Red Lobster exits Chapter 11 bankruptcy protection

Red Lobster, known for its affordable seafood and cheddary biscuits, has exited Chapter 11 bankruptcy protection.

Man Who Predicted Trump Win Issues Shocking New Election Prediction - Ad

In 2016, surveys were giving Hillary Clinton more than 99% chance of winning right up until election night. But right before the election... Former advisor to the CIA, Jim Rickards predicted Trump would win. You won't believe what he's predicting now. And it could have huge implications for the financial markets.

Will the Federal Reserve cut interest rates fast enough to deliver a 'soft landing'?

WASHINGTON (AP) — American consumers and home buyers, business people and political leaders have been waiting for months for what the Federal Reserve is poised to announce this week: That it's from a two-decade peak.

NVIDIA, Salesforce Announce Strategic AI Collaboration: What To Know

NVIDIA and Salesforce on Tuesday announced a strategic collaboration to develop advanced AI capabilities for enterprises with autonomous agent and interactive avatar experiences. Here's what to know.

Buffett's Big A.I. Secret (Handle With Care) - Ad

A.I. is the talk of the town...But here's what they're NOT telling you. Former investment banking V.P. Ross Givens is letting the cat out of the bag. He's leaking a revolutionary new development, which changes everything. It will kick off A.I.'s massive second wave.

Mideast Tensions latest: Gold Apollo says a Budapest company made exploding pagers under its brand

Taiwanese company Gold Apollo said Wednesday that it authorized its brand on the but that another company based in Budapest manufactured them.

An ancient African tree is providing a new 'superfood' yet local harvesters are barely surviving

Since childhood, Loveness Bhitoni has collected fruit from the gigantic baobab trees surrounding her homestead in to add variety to the family’s staple corn and millet diet. The 50-year-old Bhitoni never saw them as a source of cash, until now.

A 10,000% Dividend?!? - Ad

Have you seen this strange oil investment? It's NOT a stock, bond, or private company...It has NO age requirements...You do NOT need to be accredited to participate... And you can get in for as little as $25.

Americans Split On Election Result Acceptance Between Harris And Trump, Here Is The Candidate They Think More Likely To Accept Voters' Verdict

A survey conducted by ABC News/Ipsos has shed light on the American public's confidence in the acceptance of the upcoming November presidential election results by Vice President Kamala Harris and former President Donald Trump.

DO NOT Make Another Trade Without Seeing This First - Ad

Starting September 23... a huge secret of the markets could help you consistently target gains like: 126%... 245%... even 463% or more... often in 30 days or less... No matter what the market does next.

Canadian Union Unifor Reaches Agreement With General Motors For Over 1,300 Workers In Ontario

Unifor has reached a tentative collective agreement with General Motors for the more than 1,300 of its members at the company's CAMI Assembly and Battery Assembly facilities in Ingersoll, Ontario, the Canadian labor union said on Wednesday.

Amazon is requiring workers to be in the office five days a week starting next year

is reverting to its pre-pandemic policy and will require corporate employees to be five days a week starting next year, CEO Andy Jassy said Monday.

America's Slow Decline into Hell - Ad

As Kamala Harris rises to power, her 3-word agenda threatens every American's freedom and financial security. Get the inside scoop and

Japan's trade deficit grows while both imports, exports fall short of forecasts

TOKYO (AP) — Japan posted a trade deficit for a second straight month in August, the Finance Ministry said Wednesday, despite signs of sluggish consumer spending that weighed on imports.

This $2 Stock Outshines Historic Gold Rally! - Ad

Gold has soared 25% in the last 6 months, but this young company has more than doubled that return. With a price target nearly double its current value, it's caught the eye of 40+ investment banks and funds. Discover the name of this standout company today and see why it's a potential gold mine for investors.

The next generation of Buffetts is poised to become one of the biggest forces in philanthropy

OMAHA, Neb. (AP) — The next generation of Buffetts — Howard, Susie and Peter — is poised to become one of the most powerful forces in when their 94-year-old father, the legendary businessman and leader of Berkshire Hathaway, , eventually passes away.

Trending Now

Information, charts or examples are for illustration and educational purposes only and not for individualized investment management This message contains commercial elements, such as advertising. We only send these offers to those who have opted in to our newsletter. Past performance is not indicative of future results. For these reasons we strongly suggest trading in a DEMO/Simulated account. The information provided by us is for educational and informational purposes only. We make no representations or warranties concerning the products, practices or procedures of any company or entity mentioned or recommended and have not determined if the statements and opinions of the advertiser are accurate, correct or truthful. If you use, act upon or make decisions in reliance on information contained or any external source linked within it, you do so at your own peril and agree to hold us, our officers, directors, shareholders, affiliates and agents without fault.

Copyright trendadvisor.net
Privacy Policy | Terms of Service