EDITOR'S NOTE

Hello readers,

Joe Biden's campaign is going through a tough stretch.

It posted an underwhelming $15.2 million fundraising haul for the third quarter, and the former vice president has given up substantial ground in the polls to Sen. Elizabeth Warren. On top of all that, Biden and his son Hunter are targets of increasingly intense attacks from President Trump. While Trump's claims have largely backfired – he is embroiled in an impeachment probe – the attention isn't necessarily flattering for the Bidens, either.

Eager to reestablish momentum with donors, the Biden campaign is largely looking past the early primary states of Iowa and New Hampshire, where presidential campaigns usually look to get off to a great start. CNBC's Brian Schwartz reports that the campaign's strategy is more focused on Super Tuesday, March 3, where 40% of delegates are up for grabs. 

That means more fundraising events featuring Biden and a more robust online presence, according to people who attended a Biden fundraising summit over the weekend. “They need to raise a substantial amount. Super Tuesday comes immediately after the first four states,” said one business executive who attended the event. 

Indeed, Biden still has strong structural support in the Democratic ranks, particularly among black and more conservative members of the party. If he can weather the growing Warren storm and perform well enough in Iowa, New Hampshire, Nevada and South Carolina in February, the March 3 gambit could well pay off. 

Still, with five long months before Super Tuesday, the landscape only looks increasingly hostile to Biden's chances.

Thanks for reading.

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