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Daily Archives: June 22, 2024
Hype-nosis: Snap Out of the Trance and See These 3 Stocks for What They Really Are – InvestorPlace
Posted: June 22, 2024 at 11:27 am
The most unfortunate thing about constant success for a company is the eventual reality that I cant last forever. No matter how stunning or amazing its initial rally is, every stock is subject to hype that can lead to an overvaluation. These overvalued stocks ultimately cause a risk to long-term investors who may be subject to a volatile price drop should institutions decide to cash in on a historic run.
Message its important to look earnestly at a stock and consider whether or not your position is still worth it. Its up to you as an individual investor to decide if your gains on a position are satisfactory. I will use these three high-performing stocks as examples of what clues to look for regarding overvaluation.
Source: Piotr Swat / Shutterstock.com
I may be a contrarian when I say that Nvidia (NASDAQ:NVDA) is driving a trend of overvalued stocks, but hear me out. The company grew by $1 trillion in market capitalization in under 100 days, yet none of its big-ticket products sell directly to consumers. It builds exceptionally complex technologies with fairly niche use cases.
Take, for example, the recent announcement of its Blackwell graphics processing unit. At $40,000 a piece, nobody but the companies that use it for their products is buying it. Thats fine because demand for linear processing power is through the roof as everyone jumps on the artificial intelligence bandwagon, but what happens if forecasted demand is overinflated? What happens if the data used to train AI runs out? Billions of dollars in data center GPUs will be essentially wasted.
Moreover, 5G connections and internet speeds across the U.S. are nowhere near fast enough to support the processing speeds that Nvidia devices are offering. Yes, the engine Nvidia is building to power the new industrial revolution is faster than anything ever seen before, but what if it simply doesnt need to be?
Source: Vitaliy Karimov / Shutterstock.com
Though it saw a 28% correction over the last six months, theres a good chance Tesla (NASDAQ:TSLA) is still overvalued, trading at around $184 a share. For example, its market capitalization is $589 billion, which is stunning compared to the next biggest car company by market share, Toyota (NYSE:TM), at $261 billion.
At first, the difference may seem to be because of Teslas technological edge. Still, more and more consumer trends show a decreasing demand for electric vehicles as hybrid engines become more practical. This disparity in market cap between first-place TSLA and second-place TM seems even more glaring when you consider that TSLAs revenue in 2023 came in at $94.75 billion compared to TMs $297.86 billion.
Even worse, Tesla trades at a price-to-earnings ratio of 47.28x, which appears exceptionally expensive compared to Toyotas price-to-earnings of 8.37x. As a result, Im confident that Teslas stock is still one of the more overvalued stocks in the auto sector, regardless of its perception of being a tech stock.
Source: Claudio Divizia / Shutterstock.com
Though discussion comes from several angles, from e-commerce to cloud computing, Amazon (NASDAQ:AMZN) is likely one of the more gently overvalued stocks in this trio. The company still takes a relatively measured approach when addressing the mediatemperingrs hype and expectations around its stock performance.
Though its Amazon Web Services platform is dominant and is the primary e-commerce site in the United States, much of the speculation on Amazons future trajectory has focused on its ventures in the AI race. Yet, AI is one thing Amazon is relatively quiet about, at least in comparison to the other major tech stocks of the Nasdaq.
Its price-to-earnings ratio is also high for the tech industry, sitting at 51x currently. While it may not be trading as overvalued as TSLA or NVDA, some calculations suggest the stock is 32% over its intrinsic value, courtesy of Alpha Spread.
On the date of publication, Viktor Zarevdid not have (either directly or indirectly) any positions in the securities mentioned in this article.The opinions expressed in this article are those of the writer, subject to the InvestorPlace.comPublishing Guidelines.
Viktor Zarev is a scientist, researcher, and writer specializing in explaining the complex world of technology stocks through dedication to accuracy and understanding.
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Republican Party of Jackson County holds monthly Executive Committee meeting – Jackson County Sentinel
Posted: at 11:27 am
On June 13, the Republican Party of Jackson County had their monthly Executive Committee meeting. At the meeting, they approved the agenda of the meeting and the minutes of the previous meeting on May 9.
First, the Treasurer discussed the financial report. The Treasurer reported that the party had an operating budget of $7,178.54 and a PAC account balance of $12,429.67.
The party then discussed the minutes of the previous meeting where AJ Buckner resigned as chairman and Jason Davidson replaced Buckner. Buckner did not respond to calls from the Jackson County Sentinel as to why he resigned.
The second item for the May 9 meeting mentioned David Blizzard would not be placed on the ballot for Jackson County Board of Education District 1 this fall. They did not discuss why that decision was made.
The May 9 meeting also discussed Peyton Edminston not having enough time to practicing as an attorney to qualify for Circuit Judge. According to the Secretary, John Wahl was supposed to address this issue in the June 13 meeting. Wahl did not address it in his talk to the committee.
In the June 9 new business, Edminston gave his account of his withdrawal of the race for Circuit Judge. Edminston said in his research prior to running for office he, could not get a clear definition as to the statute that rules running for circuit judge. He said after a risk and financial assessment, he decided it was in his best interest to withdraw from the race.
The party then discussed the recent vandalism of John Grahams political signs. The party said they drafted a resolution condemning the actions and will send a copy of this resolution to the Alabama State Republican Committee as well as Judge Graham. The resolution was passed in the meeting. Sheriff Rocky Harnen said investigators into the matter have no evidence to suspect anyone from Edminstons political team that it was probably some other group involved.
Senator Steve Livingston then gave an update on the state gambling bill. He said the bill failed. He said in the latest session there were over 800 bills discussed with most of them passing. It was then discussed that there will be a bill on the ballot for voters to decide if mayors can receive state retirement benefits.
The Commission then delivered their report of Jackson County. Bill Nance first said that recently retired county administrator, Bob Manning, has had a heart attack and was in serious condition. Nance also gave a tornado update and road update. He thanked the mayor of Henagar for assistance in cleanup efforts. He said some contracts are still under negotiation and it will be reported at the next commission meeting. Several party members discussed work on the Jackson County Courthouse. Sheriff Harnen said looking at the foundation is scary but he is thankful for the Commissions work into the updates.
At the end of the meeting, John Wahl spoke. His overall message for the Executive Committee was for Conservatives to be bold. He also said, Government governs best that governs local. The closer you can get to the individual, the better it is. He said the party needed to focus on local community, family units and faith in God.
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Trump Wasnt Going to Stay in Milwaukee. Then Reporters Asked. – The New York Times
Posted: at 11:27 am
When Republicans gather in Milwaukee next month to nominate him for president, Donald J. Trump planned to stay not in the conventions host city but at a Trump hotel in Chicago, some 90 miles away, according to three people briefed on the former presidents logistics.
That changed midafternoon on Tuesday, after reporters for The New York Times and an ABC station in Chicago contacted his campaign for comment.
Mr. Trump now intends to stay in Milwaukee, two of the people briefed on his logistics said.
Mr. Trump has been on the defensive about his views on Milwaukee since news outlets reported last week that he had called it a horrible city in a private meeting with House Republicans in Washington. The change in his convention plans avoids a perceived slight to the largest city in Wisconsin, a vital battleground state.
In a local television interview on Tuesday afternoon, Mr. Trump said he was always planning on staying in Milwaukee. I have a beautiful hotel there, a beauty, as good as it gets, he said of Chicago. But Im staying here.
And Mr. Trump opened his rally on Tuesday afternoon in Racine by proclaiming his love for Milwaukee, about 30 miles away, which he claimed he selected as the host of the convention. And he repeated his contention that he had only criticized the city over crime and his false claims of voter fraud there in 2020.
I love Milwaukee. I said weve got to fix the crime, we all know that, Mr. Trump told thousands of people gathered to hear him speak. Youve got to make sure the elections honest.
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Semi Bird investigated by Washington State Republican Party – KHQ Right Now
Posted: at 11:27 am
SPOKANE, Wash. Republican gubernatorial candidate Semi Bird was investigated by the Washington State Republican Party Executive Board for allegedly stealing valor during his service in the military.
Bird made headlines when he secured the Washington GOPs endorsement over opponent Dave Reichert at the state partys convention in Spokane in April despite allegations that he concealed a 1993 misdemeanor conviction from convention organizers.
In early June, conservative commentator Jason Rantz questioned Birds military commendations, citing anonymous sources who claimed that the Republican candidate misrepresented his service record. Bird vehemently denied those claims.
Bird claimed that the Washington GOPs investigation into him was unfounded via social media on Friday.
Rather than uniting with their own endorsed candidate who made history by receiving an overwhelming 72% supermajority endorsement vote of delegates at their conventionmembers of the WSRP Executive Board and party Chairman chose toinitiate an investigation into Bird, Birds campaign said.
Washington GOP chair Representative Jim Walsh offered context for the investigation in a statement posted to the partys website.
The 2009 Reprimand memo, in which Gen. Hector Pagan stated in part that Bird wore awards and badges that you had not earned, has generated great concern. In his written response to that memo, Bird himself acknowledged: My actions constitute nothing less than a fraud against the United States Army....As WAGOP Chairman, I was deeply troubled to read those words, Walsh said.
Walsh went on to say that there is no way for the state party to rescind its endorsement of Bird and that voters will ultimately decide whether the candidate advances to the governors office.
The Spokane County Republican Central Committee affirmed its support of Bird in a statement from Vice Chair Lyle Dach.
At this point the SCRCC still remains committed to, and fully supports Misipati Semi Bird as our Washington State Republican Party and Spokane County endorsed gubernatorial candidate. We feel Semi Bird's well laid out plan, policies, and leadership, offers the best solutions when leading Washington State forward as our next governor, Dach said.
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Republican Hung Cao projected to face Tim Kaine in Virginia Senate race – The Washington Post
Posted: at 11:27 am
Retired Navy Capt. Hung Cao was projected to win the Republican nomination in Virginias five-way Senate primary Tuesday to take on Sen. Tim Kaine (D) in the fall, according to the Associated Press.
Cao was the most well funded candidate and had the most name recognition in the field, after an unsuccessful attempt to unseat Rep. Jennifer Wexton (D-Va.) in the 10th Congressional District in 2022.
Trailing him in fundraising were Scott Parkinson, a former adviser to Florida Gov. Ron DeSantis (R) and the vice president of government affairs at the Club for Growth, a conservative economic policy advocacy group; and Clifton attorney and author Jonathan Emord, who has challenged the Food and Drug Administration.
The other two candidates were Virginia Beach attorney Chuck Smith, who also ran for Virginia attorney general in 2017 and 2021; and small-business owner and Army veteran Eddie Garcia.
Cao, 52, of Purcellville, raised more than $2.5 million for his Senate campaign, far more than any of his GOP rivals but a fraction of the funding amassed by Kaine, the former governor and onetime vice-presidential nominee who is seeking a third term.
Cao, a refugee from Vietnam, arrived in the United States at age 4 and attended the U.S. Naval Academy. He served 25 years in Navy Special Operations and was deployed to Iraq, Afghanistan and Somalia before turning his attention to politics, he said in a campaign video.
Tomorrow, we begin our campaign to save the country that saved my life, Cao said in a statement after the race was called. I spent twenty-five years in the Navy, while Tim Kaine spent thirty years in elected office. The taxpayers signed the front of our paychecks for the same amount of time. The difference is this: Tim Kaine got rich, and I got scars.
He noted that the timing of the win coincides with a Biden administration policy that would give about half a million immigrants who are married to American citizens a pathway to citizenship for them and their children, which Cao called amnesty.
President Trump and I will win in November, we will secure the border, we will protect Social Security, and we will save America, he said. I spent twenty-five years fighting for this country, and Im not done.
In his own statement, Kaine touted his four decades as a civil rights lawyer and elected official.
As your Senator, Ill keep standing up for an economy that works for all, affordable healthcare, reproductive freedom, enhanced career and technical education and strengthening our military and allies while supporting our troops, veterans, and their families, he said.
You know Ill stand up for you because I always show up for you.
Cao drew comparisons between President Biden and Communist leaders in Vietnam in his announcement video in July 2023. His campaign focused on border security, parental rights and bringing more resources to the U.S. military.
Donald Trump endorsed his campaign, saying Cao will be a tireless leader to stop inflation, lower taxes and defend the Second Amendment. Of the five candidates, only Cao and Garcia said Biden legitimately won the presidency, bucking Trumps false claims that Democrats stole the election.
Steve Bohlander, 57, of Ashburn said he voted for Cao because he recognized the candidates name and policy positions from his previous campaigns and felt he would slow down the illegal immigration and manage the economy better.
Parkinson, the youngest in the field, touted his experience in economic policy and has called the national debt the greatest threat to our national security.
Susan Premo, 55, of Ashburn split from her daughters Katie, 18, and Jenna, 22, who support Democrats, to vote for Garcia because he was not taking huge amounts from large corporations and opposes abortion.
All of the candidates described themselves as pro-life, but they also said they would have no role as a senator in shaping abortion policy. They noted that in overturning Roe v. Wade two years ago, the Supreme Court gave individual states the right to sharply restrict or outlaw the procedure.
Jeanne Hunt, 71, a retiree from Castleton, said she voted for Cao and a congressional candidate in part because of their military service: They love America. They believe in the Constitution, they want to see things go the right way.
Kaine, who has held the seat since 2013, has raised more than $14 million since 2019, according to the nonpartisan Virginia Public Access Project.
But two polls that show Biden and Trump tied in Virginia a state that Biden won in 2020 by 10 points have given Republican candidates reason to hope Trumps coattails will extend to the Senate race.
Laura Vozzella contributed to this report.
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RNC Convention security measures address concealed carry – New York Post
Posted: at 11:26 am
WATERTOWN, Wis. Wisconsins concealed-carry and open-carry laws mean people will be able to have guns within blocks of the Republican National Convention next month.
Just dont do anything that could be considered a threat to our community. It will not, it will not be tolerated, Milwaukee Police Chief Jeffrey Norman said at a Friday press conference laying out the security plan.
We have the understanding and respect for those who are carrying concealed or carrying open carry. Its about behaviors.
The chief, who has applied for the top cop job in Austin, Texas, was emphatic about not tolerating disorder with guns only banned in a small perimeter around the event.
Violence in Milwaukee peaked in 2022, and Norman is credited with helping bring down homicides by 40%.
Milwaukee police officers shot two teenagers Thursday, killing an unborn baby, after chasing a vehicle on a major city thoroughfare wanted in connection with two carjacking incidents.
During the joint city and Secret Service presser, Nick DeSiato, Milwaukee Mayor Cavalier Johnsons chief of staff and former police chief of staff, said that more than a hundred individuals and organizations have signed up to demonstrate during the convention and so far, the city hasnt denied any applications. There will be two speaker platforms for protesting in the areas around the security perimeter, within sight and sound of the RNC.
Asked about prohibited items, DeSiato said the city is bound by the state Constitution and cannot contradict state law on concealed and open carry.
Were governed by the Constitution, he said.
Pere Marquette Park, identified as a protest zone, has been an area of dispute among protesters, the RNC and the Secret Service.
The GOP is holding convention events inside the Wisconsin Historical Society building.
Given its vicinity to the building, the park was put inside the hard security perimeter, said Secret Service RNC Coordinator Audrey Gibson-Cicchino.
Ensuring the safety and security of our delegates, guests, officials, members of the media, and the entire Milwaukee community while standing up for our First Amendment rights and liberties have always been topmost priorities for the Republican National Convention, RNC spokesman Kush Desai said. We look forward to continuing to collaborate closely with the US Secret Service as well as local law enforcement to ensure the best possible convention experience for everyone.
Gov. Tony Evers declared a state of emergency ahead of the convention, which allows certain security measures to be in place, including calling up the Wisconsin National Guard.
Asked about using the National Guard to provide security for the RNC, Gibson-Cicchino said only that the Secret Service does have a partner in the force.
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House Republicans shift message on extending 2017 tax cuts – Roll Call
Posted: at 11:26 am
The GOP party line on the expiring 2017 tax law has been to extend and make it permanent, but changing politics and growing debt has House Republicans charged with reviewing the provisions shifting away from that message.
Lower tax rates on individuals, relief from the alternative minimum tax, treatment of money U.S. companies make abroad, small-business deductions and other provisionsestablished by 2017 law are set to expire at the end of next year.
The impending tax cliff has prompted lawmakers to start laying the groundwork for 2025, even though no one can predict the outcome of Novembers elections.
Biden administration officials, including Treasury Secretary Janet L. Yellen and Director of the National Economic Council Lael Brainard, have said Democrats would extend tax breaks for households making less than $400,000 and offset the cost with tax increases on the wealthy and corporations.
Republicans have long said they would like to extend and make permanent expiring provisions, but in a shift in messaging some members on the tax-writing House Ways and Means Committee say fully extending the provisions isnt a foregone conclusion.
Addressing the tax cliff is likely to be central to the budget reconciliation plans GOP leadership is pulling together in the event of a Republican sweep in November. And the constraints of that process are such that squeezing in a multitrillion-dollar increase in federal deficits could be difficult, even if the willingness on the part of lawmakers was there.
I dont think it is the default position, Rep. Randy Feenstra, R-Iowa, said of a full extension of the 2017 law, often referred to as the Tax Cuts and Jobs Act. I would call it Tax Cuts and Jobs Act 2.0. What worked? What didnt work? What changes can be made?
Feenstra, a Ways and Means member, has been assigned to the supply chains, global competitiveness and rural America tax teams, three of the 10 Republican-only working groups established by Ways and Means Chairman Jason Smith, R-Mo., to prepare for next years expirations.
[House GOP tax teams in the spotlight as expirations near]
Ways and Means member Blake D. Moore, R-Utah, vice chair of the global competitiveness tax team and a member ofthe community development team, said shifting politics and risingdebt were major considerations as lawmakers weigh how to approach next years expirations. Tax teams are examining every provision with an open mind, he said.
No one understands it more than us that 2017 politics versus 2025 politics, theyre not in the same spot, Moore said. Were taking a look at whats worked, whats been helpful. How has it affected things? And whats the biggest impact? And prioritize those things moving into the next cycle. Everythings on the table.
Offsets included in the bill, such as the $10,000 cap on state and local tax deductions, are unpopular among members representing districts in high-tax states, including New York Republicans, who helped hand the GOP majority in the House in 2022, Moore said.
Other provisions intended to lower the cost of the 2017 law, such as the amortization of businesses deductions of research and development investments, are also unpopular among Republicans and Democrats, and have been the target of repeal.
I dont think its, Lets just make TCJA permanent. A lot of that would be the plan, but were not going to be in the same situation, Moore said, adding that the debt is higher and majorities are slimmer than they were in 2017.
Republicans had about a 40-seat majority in the House and a narrow majority in the Senate in 2017, compared to the five-seat majority the GOP has in the House today. Democrats control the Senate 51-49, but face a tough election map this fall.
The 2017 law was estimated to cost about $1.5 trillion in foregone revenue at the time. Fully extending the expiring provisions for another decade would cost $4 trillion, not counting debt service costs, according to the Joint Committee on Taxation.
Undoing certain revenue raisers from that law that have either already triggered or are scheduled to would add to the cost, pushing the total including interest payments on the added debt past $5 trillion, according tothe Committee for a Responsible Federal Budget.
Fully extending the law would maintain the $10,000 SALT cap and would add to the deficit, opening the law up to criticism from both more centrist Republicans from blue states and deficit hawks on the right, Moore said.
Rep. Kevin Hern, R-Okla., who chairs the influential Republican Study Committee, as well as the global competitiveness tax team, said debt and deficits loom large as the GOP weighs how to handle next year, if the party is in power.
The Trump tax cuts, they worked perfectly at the time, Hern said. We have to look at whats right for today, just as we did 10 years ago. And economic times are different. Debts 50 percent higher, more than that, actually its almost double. Inflation is high caused by President Biden and his team. And weve got to look at this. Weve got to look at the interest rates and all this is going to impact what we can do now.
Federal debt held by the public, which excludes debt held by government accounts such as the Social Security and Medicare trust funds, was $14.7 trillion at the end of fiscal 2017; the Congressional Budget Office this week said it expects debt at the end of this fiscal year to be $28.2 trillion.
[CBO: Deficits and inflation higher, but so is economic growth]
The Treasury was paying an average interest rate of 2 percent on that borrowed money in 2017; this year, the CBO says the comparable figure is 3.4 percent. Interest payments on the debt have already exceeded Medicare costs and next yearare expected to eclipse defense spending.
Rep. Vern Buchanan, R-Fla., who introduced a bill to make the 2017 law permanent, said he was willing to set that position aside and be open-minded. Buchanan is leading the American manufacturing tax team.
We got to look at the debt and the deficit and what that means, and how were going to pay for it. So its changed in terms of the debt for us five years ago, he said. We have to find a way to create balance between having targeted tax cuts, but at the same time start dealing with our financial wherewithal.
On the Senate side, Republicans on the Finance Committee have begun meeting in their own small working groups, while panel Democratsmet to talk 2025 strategy on Thursday.
Senate Finance Democrats are beginning to compilea menu of possible revenue-raising provisions and vetting proposals that would aid the middle and working classes, such as supporting the construction of more housing and increasing availability of child care.
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Trump rallies supporters in Wisconsin ahead of the Republican National Convention – Courthouse News Service
Posted: at 11:26 am
RACINE, Wis. (CN) Former President Donald Trump gave a campaign speech to hundreds of supporters who came to rally around him in a blue-collar enclave of battleground Wisconsin on Tuesday, painting the U.S. as an embattled, violent and corrupt place under the current Democratic administration.
Trump took the stage at Racine Festival Park to Lee Greenwoods God Bless the U.S.A. and immediately referenced a recent report saying he called Milwaukee the site of the Republican Partys national convention this July, where Trump will presumably be named the partys nominee a horrible city during a private meeting with House Republicans.
Wisconsins Republican delegation reacted to the report last week by variously qualifying what Trump meant by his statements or denying he said them altogether. Trump did both at that time, at first saying through a spokesperson that he was referring to crime and voter fraud in the city before taking to Truth Social over the weekend to issue a denial.
Trump not only denied the comments again on Tuesday but said Milwaukee was getting the Republican National Convention because of him.
Im the one who picked Milwaukee, Trump said.
Trumps freewheeling, nearly 90-minute speech was light on specific policy but blasted migrants crossing America's southern border, endless global wars, rampant crime, China, inflation and the larger U.S. economy all of which he said have become major issues under President Joe Biden.
The former president went into sometimes graphic detail of recent murders alleged to have been committed by migrants in the U.S. illegally, including those of Rachel Morin in Maryland and Laken Riley in Georgia. He additionally blamed migrants, at least in part, for a lack of jobs and affordable housing because the flood of "17 or 18 million" who have crossed the southern border although official estimates of those numbers are considerably lower. He decried a Biden plan announced Tuesday that would eventually grant citizenship to half a million immigrants.
Recent estimates put the annual inflation rate at around 3.3%, but Trump claimed the actual rate was many times that figure. With the economy in shambles, Trump said he would bring an end to Bidenomics and replace it with MAGAnomics.
One piece of policy Trump mentioned was a version of the U.S. Reciprocal Trade Act first championed during his presidency. No substantial details of the proposal were provided, but it would essentially seek to resolve trade imbalances with other counties or, as Trump put it, telling other countries that: you screw us, we screw you.
The atmosphere on Tuesday felt as much like a rock concert as a political event. Vendors selling food, water and all manner of Trump paraphernalia did brisk business as the former presidents supporters lined up for several blocks in the roughly 90-degree heat hours ahead of his speech.
Some T-shirts for sale at Trumps rally referenced the former presidents recent conviction in New York of 34 fraud felonies and depicted him as an outlaw the point being that support for Trump was unwavering among his followers despite his status as a convicted felon.
Trump on Tuesday blamed his recent multifaceted legal troubles on Biden and radical left Democrats, communists, fascists and others he said were collaborating with the president. He claimed that those taking him to court are coming after him because of what he represents.
Our enemies want to take away my freedom because I will never, ever let them take away your freedom, he said, prompting peals of applause. In the end, theyre not after me. Quite simply put, I am just standing in their way.
Trump's supporters amassed in Racine on Tuesday cheered and jeered in response to the former presidents well-worn digs at the news media, which he claimed was doing all it could to make the enfeebled, senile Biden seem better, including through clean fake videos.
Before Trump's speech, large screens near the staging area played, among other things, a video of Trump advising his supporters to vote via all available means, including by mail, to foil Democrats trying to cheat in the election. A switch to paper ballots, same-day voting, voter ID and an era of secure, beautiful elections would follow his victory, Trump said in the video.
During his speech, Trump once again falsely claimed that he won Wisconsin in 2020 as he did in 2016. Multiple reviews of the election results and a recount Trump demanded reaffirmed that Biden won the Badger State by about 20,000 votes.
Nevertheless, the state and its 10 electoral votes will likely prove to be crucial for Biden or Trumps electoral success, as Trump noted.
We win Wisconsin, we win the whole thing, he said.
Briefly appearing on stage with Trump on Tuesday was Eric Hovde, an entrepreneur who is running for U.S. Senate later this year against Tammy Baldwin, the Democratic senator who has represented Wisconsin since 2013.
Speakers ahead of Trump included Wisconsin Republicans from state and federal government, among them former governors Scott Walker and Tommy Thompson and U.S. Congressmen Bryan Steil and Derrick Van Orden.
Also giving remarks on Tuesday was biotech entrepreneur Vivek Ramaswamy, who participated in early debates before dropping out of the Republican primary race. He said the country was at a 1776 moment and that Trump is the George Washington of our moment.
Much of the recent forecasting of Biden and Trumps electoral odds show either a toss-up between them or an edge for Trump. One poll released on Monday by the Des Moines Register paints a more troubling picture for Biden: felony convictions notwithstanding, Trump holds a double-digit lead over the president in Iowa.
Trumps Racine trip comes a little more than a month after President Joe Biden rallied in the same area to tout Microsofts plan to make major investments in AI infrastructure in the region.
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Will the Jan. 6 prisoner movement make it to the Republican National Convention stage? – Semafor
Posted: at 11:26 am
Donald Trump has loudly touted his support for the hundreds of Jan. 6 participants whove faced charges, convictions, and imprisonment all year. Now theyre ready for their close-up at the Republican convention but theres no indication that its coming.
The Republican National Committee and Trump campaign aides are keeping their cards close to the vest on any convention decisions. (An RNC official, when asked about possible plans surrounding Jan. 6 and the convention, said in a statement that speculation on programming and speakers is just that.) But a lawyer whos been a key connector between Jan. 6 defendants and Trumps campaign says hes seen no indication planners are interested in taking up offers to have a speaker representing the cause be featured at the upcoming event.
I made a few inquiries about that, but it didnt really go nowhere, said Joseph McBride, who told Semafor back in March that he hoped the movement would have a convention presence. I dont think you have any real interest of anybody outside of the immediate circle at the top.
McBride suggested that activism around Jan. 6 makes a lot of these people uncomfortable, but that the RNC risked ceding ground to their critics to define the movement.
Its unfortunate, but theres a lot of weak people, spineless people in that group, he said. What can you do?
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Will the Jan. 6 prisoner movement make it to the Republican National Convention stage? - Semafor
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Hung Cao wins Republican nomination for U.S. Senate, will face off against Tim Kaine in November – 13newsnow.com WVEC
Posted: at 11:26 am
Elections
Cao's Senate nomination comes after he ran for the U.S. House in Virginia's 10th Congressional District in 2022, losing to Democratic U.S. Rep. Jennifer Wexton.
Author: Preston Steger, Eugene Daniel (WVEC)
Published: 7:36 PM EDT June 18, 2024
Updated: 8:51 PM EDT June 18, 2024
VIRGINIA, USA Retired Navy captain and Trump endorsee Hung Cao has won the Republican nomination for Virginia's 2024 U.S. Senate election, setting up a contest against Democratic incumbent Tim Kaine.
As of 7:30 p.m., Cao is leading the pack with 67% of the vote against candidates Jonathan Emord, Eddie Garcia, Scott Parkinson, and Chuck Smith.
Cao's Senate nomination comes after he previously ran for the U.S. House in Virginia's 10th Congressional District in 2022, losing to Democratic U.S. Rep. Jennifer Wexton by more than six points. Former President and 2024 presumptive presidential nominee Donald Trump backed Cao's Senate candidacy ahead of Tuesday's primary.
Cao is campaigning on border security issues popular within the Republican Party, including building a wall, using advanced technology, and supporting the Border Patrol.
In a victory post on Facebook, Cao immediately criticized President Joe Bidens decision on Tuesday to allow certain U.S. citizens spouses without legal status to apply eventually for citizenship.
Tomorrow, we begin our campaign to save the country that saved my life, Cao stated. I spent twenty-five years in the Navy, while Tim Kaine spent thirty years in elected office.
In a recent campaign ad, Cao, who was born in Vietnam, makes comparisons between the countrys communist regime during the Cold War to the Biden Administration.
On the Democratic side, Kaine automatically became his party's nominee since he ran unopposed. He won his first Senate election in 2012 and secured another term in 2018.
In a statement following Cao's Republican primary victory, Kaine said in part:
"Ive been standing up for Virginians for 40 years as a civil rights lawyer and public servant representing my city, Commonwealth and country. As your Senator, Ill keep standing up for an economy that works for all, affordable healthcare, reproductive freedom, enhanced career and technical education and strengthening our military and allies while supporting our troops, veterans, and their families."
If Cao defeats Kaine, he would become the first Republican elected to the upper chamber since 2002. However, Sabato's Crystal Ball political analyst J. Miles Coleman told 13News Now he believes Kaine is a strong favorite for the general election.
Kaine has a long history of holding elected office in Virginia, having served as governor from 2006 to 2010, lieutenant governor from 2002 to 2006 and Richmond's mayor from 1998 to 2001.
Election Day is Tuesday, Nov. 5, 2024.
The Associated Press contributed to this report.
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