オプションチェーンは、Primech Holdingsの株式オプションの主要データを様々な行使価格と満期日で表示します。トレーダーはこの情報を使用して、潜在的な取引を分析し、Primech Holdingsの市場センチメントを評価します。.

Primech Holdings (NASDAQ:PMEC) 株価情報, オプションチェーン

Primech Holdings

Primech Holdings Ltd is a technology-driven facilities services provider in the public and private sectors operating mainly in Singapore. The services offered by the company include Facilities services, Stewarding services, Cleaning services to offices, Cleaning services to homes, and Cleaning Supplies.

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アドバンスト マイクロ デバイセズ社 (NASDAQ:AMD) の株は、予想を上回る第2四半期決算を受けて本日のプレマーケット取引で急騰している。

AMD株価上昇　決算を受けて

Primech Holdings Ltd

Billionaire entrepreneur Mark Cuban believes micromanagement is a <a href="https://www.benzinga.com/general/24/02/36955564/the-moment-mark-cuban-knew-he-could-not-work-in-the-corporate-world-his-bank-boss-yelled-at-him-for">sign that something is broken</a>.
What To Know:&nbsp;Ofek Lavian, CEO of fintech company&nbsp;Forage, recently posted a thread on&nbsp;<a href="https://twitter.com/OfekLavian/status/1766950034581700697">X</a>&nbsp;focused on counterintuitive leadership principles. Cuban responded to the thread, noting that he agreed with everything except for the post on micromanaging.
"Pretty darn good list. Agree with all but micromanage," Cuban said. "Micromanage early. Trust the process or fix what's broken if you always have to micromanage."
CNBC&nbsp;<a href="https://www.cnbc.com/2024/03/22/mark-cuban-micromanaging-is-a-toxic-trait-with-one-exception.html">reported</a>&nbsp;Cuban's opinion on micromanaging was formed from personal experience with his former company Broadcast.com.
Cuban reportedly micromanaged his employees in his early days as he expected them to match his own work ethic. This created a situation in which Cuban was always focused on pushing employees to be better and work faster without thinking about how he was coming off.
"I wish somebody would have told me to be nicer,&#8221; Cuban reportedly said on the "Bio Eats World" podcast last year.
Check This Out: <a href="https://www.benzinga.com/news/24/11/42027001/mark-cuban-swings-1m-to-golf-company-despite-hating-the-sport">Mark Cuban Swings $1M To Golf Company Despite Hating The Sport</a>
Cuban's "go, go, go" mentality and micromanaging tendencies actually hurt the company in its early stages. Cuban recalled one of his business partners pulling him aside and telling him he was scaring some of the employees with his management style. Still, Cuban sold the company to Yahoo for $5.7 billion in stock in 1999.
Lavian's post included a link to a video featuring&nbsp;Shopify Inc&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHOP#NYSE">SHOP</a>) co-founder and CEO&nbsp;Tobi Lütke,&nbsp;who argued that the idea of micromanaging is bad is "the dumbest idea on planet Earth."
Although Cuban disagreed with the take, Lavian responded to Cuban, thanking him for his input.
"I try to hire the right team so I don&#8217;t have to micromanage, but I don&#8217;t always get it right," Lavian said.
"Once I know I can trust someone to get the little things right, I know they can devote the same level of detail and attention for the big ones that truly matter."
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/24/11/42027035/mark-cuban-planned-to-retire-by-age-35-he-says-theres-only-one-reason-he-didnt">Mark Cuban Planned To Retire By Age 35: He Says There&#8217;s Only One Reason He Didn&#8217;t</a></li>
</ul>
This story is part of a series of features on the subject of success, <a href="https://www.benzinga.com/topic/benzinga-inspire">Benzinga Inspire</a><a href="https://www.benzinga.com/topic/benzinga-inspire">.</a> Some elements of this story were previously reported by Benzinga and it has been updated.
Photo: Shutterstock.

News

Social Media

General

SHOP

Mark Cuban: If You Have To Micromanage, Something Is Probably Broken — 'I Wish Somebody Would Have Told Me To Be Nicer'

<h2 class="wp-block-heading">UPS Pays $45 Million Fine For Improperly Valuing Its Worst-Performing Business&nbsp;</h2>
The Securities and Exchange Commission (SEC) announced on Friday that it <a href="https://www.sec.gov/newsroom/press-releases/2024-184">settled charges</a> against United Parcel Service Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UPS#NYSE">UPS</a>) for materially misrepresenting its earnings because it failed to follow generally accepted accounting principles (GAAP) when valuing one of its worst performing businesses.&nbsp;&nbsp;
The SEC found that UPS did not record a goodwill impairment for its UPS Freight business division in 2019. If UPS had properly valued Freight, its earnings and other reported items would have been materially lower, the SEC said.&nbsp;
Read Next: <a href="https://www.benzinga.com/trading-ideas/movers/24/11/41949068/bitcoin-could-reach-1-million-by-2037-economist-says-buy-of-a-lifetime-opportunity">Bitcoin Could Reach $1 Million By 2037, Economist Says: &#8216;Buy Of A Lifetime&#8217; Opportunity</a>
"Goodwill balances provide investors with valuable insight into whether companies are successfully operating the businesses they own," said Melissa Hodgman, Associate Director at SEC.&nbsp;
"Therefore, it is essential for companies to prepare reliable fair value estimates and impair goodwill when required. UPS fell short of these obligations, repeatedly ignoring its own well-founded sale price estimates for Freight in favor of unreliable third-party valuations," Hodgman added.&nbsp;
In addition to the $45 million civil penalty, UPS agreed to cease and desist from further violations of these provisions, adopt training requirements for certain officers, directors, and employees, and retain an independent compliance consultant to review and make recommendations about the company's fair value estimates and disclosure obligations.
<h2 class="wp-block-heading">BIT Mining To Pay $4 Million Fine For Bribery&nbsp;</h2>
The SEC announced on Monday that BIT Mining Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BTCM#NYSE">BTCM</a>), formerly known as 500.com Limited,<a href="https://www.sec.gov/newsroom/press-releases/2024-180"> agreed to pay</a> a $4 million civil penalty to resolve charges that it violated the Foreign Corrupt Practices Act (FCPA) from 2017 to 2019 by conducting a widespread bribery scheme to influence foreign officials, including members of Japan's parliament.&nbsp;
The SEC's order finds that the bribery scheme involved illicit payments of approximately $2.5 million in the form of cash bribes, entertainment and trips. The order further finds that the bribes were authorized by a 500.com senior executive in an attempt to establish an integrated resort casino in Japan.&nbsp;
"Investors must have confidence that the operations and performance of public companies reflect merit and legitimate considerations. Bribery and corruption turn that dynamic on its head, distorting the orderly operation of the markets and undermining investor confidence," said Charles E. Cain, Chief of the SEC Enforcement Division's FCPA Unit.&nbsp;
Additionally, the US Department of Justice announced on the same day that it entered into a deferred prosecution agreement in which BIT Mining agreed to pay a $10 million criminal fine, of which $4 million will be satisfied by the company's payment of a civil penalty to the SEC.&nbsp;
More Crime Stories: Here are other crime stories covered by Benzinga this week. 
<ul>
<li><a href="https://www.benzinga.com/news/global/24/11/42100433/archegos-capitals-bill-hwang-receives-18-year-sentence-for-fraud-market-manipulation">Archegos Capital's Bill Hwang Receives 18 Year Sentence For Fraud, Market Manipulation</a></li>
<li><a href="https://www.benzinga.com/news/global/24/11/42101365/indian-billionaire-one-of-the-worlds-richest-men-indicted-for-alleged-250-million-bribery-scheme">Indian Billionaire, One Of The World&#8217;s Richest Men, Indicted For Alleged $250 Million Bribery Scheme</a></li>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42055570/bitfinex-bitcoin-laundering-case-lands-crocodile-of-wall-street-in-jail">Bitfinex Bitcoin Laundering Case Lands &#8216;Crocodile Of Wall Street&#8217; In Jail</a></li>
</ul>
Image: Gerd Altmann from Pixabay

Legal

BTCM

Financial Crime Weekly: UPS Pays $45M Fine, BIT Mining Pays $4M Fine For Bribery

MicroStrategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) co-founder Michael Saylor has revealed that the company is minting $500 million a day as Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/42127938/bitcoin-analyst-warns-of-4-6-flash-crashes-before-year-end-as-it-inches-closer-to-100k-thats-the-moment-altcoins-shoot-off">inches closer to $100,000</a> for the first time in its history.
What Happened: Saylor, who has been all-in on Bitcoin for years now, has revealed an insane statistic – MicroStrategy's holdings of the top cryptocurrency have appreciated by as much as $5.4 billion over the last two weeks.
In an interview with CNBC, Saylor broke down MicroStrategy's gains, saying, "We're making $500 million a day. I'm staring at my screen and we're selling dollar bills for $3, sometimes a million times a minute."
To put things into perspective, MicroStrategy's stock delivered a whopping 97% gain in the last month, while Bitcoin has gained nearly 47%.
See Also: <a href="https://www.benzinga.com/24/11/42151442/bitcoin-could-reach-180k-in-current-cycle-thanks-to-trump-victory-says-vaneck-but-has-this-warning-for-investors">Bitcoin Could Reach $180K In Current Cycle Thanks To Trump Victory, Says VanEck, But Has This Warning For Investors</a>
Year-to-date, MicroStrategy's stock has gained over 515% while Bitcoin prices have increased by 122%.
Nvidia, the AI bellwether and the world's most valuable company by market capitalization, has seen its stock rise by nearly 195% during this period.
"We may very well be the most profitable company in the U.S. growing the fastest right now. There's not many companies making $500 million a day," Saylor said.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">JUST IN: Michael Saylor says, "We are making $500 million a day" with <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> and "we may very well be the most profitable company in the US growing the fastest right now." <a href="https://t.co/HeMTnebfXw">pic.twitter.com/HeMTnebfXw</a>
&mdash; Simply Bitcoin (@SimplyBitcoinTV) <a href="https://twitter.com/SimplyBitcoinTV/status/1859966097782636791?ref_src=twsrc%5Etfw">November 22, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Why It Matters: The surge in&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42138209/microstrategy-trading-at-insane-256-premium-to-bitcoin-holdings-research-shows">MicroStrategy&#8217;s stock</a>&nbsp;is not just a reflection of Bitcoin&#8217;s rising value but also highlights the company&#8217;s strategic bet on the cryptocurrency.
Research from BitMEX has shown that MicroStrategy is trading at a 256% premium to the net asset value of its Bitcoin holdings, suggesting a significant valuation disparity driven by its aggressive acquisition strategy.
This premium may be influenced by financial regulations that restrict Bitcoin ETF purchases, pushing investors towards MicroStrategy for exposure.
Furthermore, Saylor&#8217;s bold prediction that Bitcoin could reach $13 million by 2045 has sparked discussions about the potential economic implications, including&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42116183/michael-saylor-predicted-bitcoin-to-hit-13-million-if-it-happens-it-will-entail-massive-hyperinflation-analyst-warns">massive hyperinflation</a>.
This prediction, if realized, would elevate Bitcoin&#8217;s market cap to $250 trillion, dwarfing the current world GDP and global stock markets.
Amidst these developments,&nbsp;Warren Buffett&#8217;s decision to hold $325 billion in cash at&nbsp;<a href="https://www.benzinga.com/markets/equities/24/11/42137295/as-mstrs-michael-saylor-says-warren-buffett-is-destroying-berkshire-capital-analyst-suggests-overpricedhot-stock-market-could-be-the-reason-oracle-of-omaha-is-sitting-on-325b-cash">Berkshire Hathaway</a>&nbsp;has drawn criticism from Saylor, who argues that not investing in Bitcoin is a missed opportunity.
Price Action: At the time of writing, Bitcoin was trading at $98,556, down 0.04% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/24/11/42151529/chamath-palihapitiyas-suggestion-for-donald-trump-make-paying-taxes-simple-and-enforcement">Chamath Palihapitiya&#8217;s Suggestion For Donald Trump: &#8216;Make Paying Taxes Simple And Enforcement…&#8217;</a></li>
</ul>
Photo courtesy: Wikimedia

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

Markets

$BTC

MSTR

Michael Saylor Reveals MicroStrategy Is 'Making $500M A Day' With Bitcoin: 'May Very Well Be The Most Profitable Company In The US Growing The Fastest Right Now'

SPAC king Chamath Palihapitiya&nbsp;suggested a major overhaul of the U.S. tax system. He proposed replacing the extensive U.S. Federal Tax Code, which spans 7,000 pages, with a straightforward flat tax.
What Happened: Palihapitiya emphasized that this could be condensed&nbsp;into a few pages of&nbsp;simple English, which would make it easier to both pay taxes as well as enforce rules.
"Replace the US Federal Tax Code&#8217;s 7000 pages and millions of words with a simple flat tax. It could fit into a few pages of simple English, make paying taxes simple and enforcement even simpler."
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Replace the US Federal Tax Code&#39;s 7000 pages and millions of words with a simple flat tax. It could fit into a few pages of simple english, make paying taxes simple and enforcement even simpler.
&mdash; Chamath Palihapitiya (@chamath) <a href="https://twitter.com/chamath/status/1860139825791414640?ref_src=twsrc%5Etfw">November 23, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
The proposal comes amid discussions on fiscal policies following&nbsp;Donald Trump&#8216;s recent election victory. Palihapitiya&#8217;s suggestion aligns with ongoing debates about tax reforms and government efficiency.
Palihapitiya&#8217;s post is part of a broader conversation on fiscal responsibility and simplification of tax processes, echoing sentiments expressed during Trump&#8217;s campaign.
Why It Matters: The idea of simplifying the tax code is significant in light of recent discussions about federal budget cuts and economic policies. Palihapitiya&#8217;s proposal follows his <a href="https://www.benzinga.com/24/11/41926584/chamath-palihapitiya-says-cut-the-federal-budget-by-trillions-and-then-do-this-with-a-fraction-of-the-money-to-make-america-great-again">earlier suggestion to cut trillions</a> from the federal budget to fund nationwide internet access.
Trump&#8217;s economic strategies, including tax cuts and tariffs, have been under scrutiny. Economists <a href="https://www.benzinga.com/personal-finance/24/09/40961812/economists-warn-trumps-plans-for-tax-cuts-tariffs-and-deportation-could-trigger-skyrocketing-inf">warn these could lead to inflation</a>. Palihapitiya&#8217;s flat tax proposal could be seen as a counter to these complex fiscal policies.
Furthermore, Trump&#8217;s plans to eliminate taxes on <a href="https://www.benzinga.com/news/24/09/40845900/trump-says-he-will-end-taxes-on-overtime-pay-but-economist-peter-schiff-says-there-is-a-fly-in-his-o">overtime pay</a> have been met with skepticism, highlighting the need for clear and effective tax reforms. This context underscores the relevance of Palihapitiya&#8217;s call for a simplified tax system.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/24/11/42131911/donald-trump-appointed-doge-to-have-marginal-impact-saving-50-100-billion-says-analyst-as-elon-musk-aims-to-target-500-billion-plus-in-federal-expenditures?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Donald Trump&#8217;s DOGE Initiative To Have &#8216;Marginal Impact&#8217; Says Analyst As Elon Musk Aims To Target Over $500B In Federal Expenditures</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: The Brian Solis via Flickr

Government

Regulations

Economics

Chamath Palihapitiya's Suggestion For Donald Trump: 'Make Paying Taxes Simple And Enforcement…'

Nvidia Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) is expediting the certification process of Samsung Electronic Co.&#8217;s (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SSNLF#OTC">SSNLF</a>) AI memory chips.
What Happened: This information was confirmed by Nvidia&#8217;s CEO, Jensen Huang, at an event at the Hong Kong University of Science and Technology on Saturday, <a href="https://www.bloomberg.com/news/articles/2024-11-23/nvidia-working-as-fast-as-it-can-to-certify-samsung-s-ai-memory?srnd=homepage-asia">reported</a> Bloomberg.
Huang said that Nvidia is evaluating both 8-high and 12-high HBM3E offerings from Samsung.
Notably, the Nvidia CEO did not include Samsung in the list of major partners he mentioned during a post-earnings call with analysts earlier this week.
See Also:&nbsp;<a href="https://www.benzinga.com/24/11/42103355/nvidias-blackwell-set-to-outpace-hopper-heres-what-ceo-jensen-huang-predicted-for-2025">Nvidia&#8217;s Blackwell Set To Outpace Hopper? Here&#8217;s What CEO Jensen Huang Predicts For 2025</a>
At that time, Huang highlighted the impressive list of partners including Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>), Amphenol (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APH#NYSE">APH</a>), SK Hynix (OTC:<a class="ticker" href="https://www.benzinga.com/stock/HXSCF#OTC">HXSCF</a>), Foxconn, Micron Technology Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MU#NYSE">MU</a>), and Dell Technologies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DELL#NYSE">DELL</a>).
Nvidia reported <a href="https://www.benzinga.com/24/11/42099904/nvidia-q3-earnings-highlights">third-quarter revenue</a> of $35.1 billion, a 94% increase year-over-year, surpassing the Street consensus estimate of $33.12 billion, according to data<a href="https://www.benzinga.com/pro/?utm_source=BZprocontent112024&amp;t=be2bearmibe3na1"> from Benzinga Pro.</a>
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Why It Matters: This development follows <a href="https://www.benzinga.com/markets/equities/24/07/39924480/nvidia-greenlights-samsungs-high-bandwidth-memory-chips-for-ai-chips-in-china-report">Nvidia&#8217;s initial approval</a> of Samsung&#8217;s fourth-generation high bandwidth memory in July.
This marked the first time Nvidia approved the use of Samsung's HBM3 chips, albeit for a less advanced Nvidia graphics processing unit (GPU), the H20, specifically designed for the Chinese market.
However, Samsung&#8217;s delay in obtaining Nvidia&#8217;s certification for AI memory chips has given competitors SK Hynix and Micron an <a href="https://www.benzinga.com/markets/asia/24/10/41645191/samsung-profits-soar-but-companys-nvidia-ai-chip-race-lag-allows-sk-hynix-micron-to-take-the-lead-in">edge in the high-bandwidth memory</a> market.
Nvidia&#8217;s new Blackwell AI chips are reportedly <a href="https://www.benzinga.com/24/11/42028342/blackwell-backfires-nvidias-ai-chips-struggle-with-server-overheating-impacting-meta-microsoft-and-musks-xai-data-centers">facing overheating problems</a>. When asked about it during the earnings call, Huang sidestepped the question and instead highlighted that the supply levels surpassed initial expectations.
Nvidia&#8217;s CFO, Colette Kress, also said the company <a href="https://www.benzinga.com/24/11/42103355/nvidias-blackwell-set-to-outpace-hopper-heres-what-ceo-jensen-huang-predicted-for-2025">shipped 13,000 GPU samples</a> in the third quarter, including one of the first Blackwell DGX samples to OpenAI.
&#8220;Blackwell demand is staggering, and we are racing to scale supply to meet the incredible demand customers are placing on us,&#8221; Kress stated during the call.
Price Action: Nvidia shares dropped 3.22% on Friday, closing at $141.95, and saw a further decline of 0.13% in after-hours trading, reaching $141.77 as of the latest update, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.
Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/24/11/42086596/jensen-huang-says-building-nvidia-was-a-million-times-harder-than-he-expected" target="_blank" rel="noreferrer noopener">Jensen Huang Says Building Nvidia Was A ‘Million Times Harder&#8217; Than He Expected</a></li>
</ul>
Photo courtesy: Shutterstock

Tech

Media

DELL

HXSCF

NVDA

SSNLF

Jensen Huang's Nvidia Fast-Tracks Samsung's AI Memory Certification As AI Giant Looks To Catch Up To Demand

Global investment manager&nbsp;Van Eck&nbsp;has reiterated its <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41984505/bitcoin-to-peak-at-180000-says-vanecks-head-of-digital-assets-research">ambitious&nbsp;$180,000 price target</a> for Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), projecting this peak within the current market cycle.
What Happened: VanEck analysts&nbsp;Nathan Frankovitz&nbsp;and&nbsp;Matthe Sigel <a href="https://www.vaneck.com/us/en/blogs/digital-assets/matthew-sigel-vaneck-mid-november-bitcoin-chaincheck">suggest</a> that favorable regulatory developments in the U.S. and increased institutional interest could propel Bitcoin to this target within 18 months.
The analysts attribute the recent surge in Bitcoin&#8217;s price, which touched $99,800 in the last 24&nbsp;hours, to the election victory of&nbsp;Donald Trump.
The analysts noted that Bitcoin entered a &#8220;new phase&#8221; on Nov. 11, with perpetual futures contracts&#8217; funding rates surpassing 10%, indicating short- to medium-term momentum.
"This shift points toward stronger short- to medium-term momentum, as historically, elevated funding rates have been linked to higher 30 to 90-day returns, reflecting heightened bullish sentiment and demand."
See Also:&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42097462/dogecoin-millionaire-shares-50-million-meme-coin-strategy-for-2025-pepe-brett-are-this-bull-runs-doge-shiba-inu?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">&#8216;Dogecoin Millionaire&#8217; Shares $50 Million Meme Coin Strategy For 2025: Pepe, Brett Are This Bull Run&#8217;s DOGE, Shiba Inu</a>
However, they cautioned that sustained high funding rates could deter investors seeking long-term returns.
"On average, purchases made on days when funding rates were above 10% began underperforming at the 180-day mark, with this trend becoming even more pronounced over 1-year and 2-year periods."
Why It Matters: The bullish sentiment from Van Eck comes amid a broader context of market dynamics and expert predictions.
Mike Novogratz, CEO of Galaxy Digital Holdings Ltd., <a href="https://www.benzinga.com/24/11/42130693/bitcoins-path-to-100k-inevitable-but-leverage-to-the-gills-warns-mike-novogratz-predicts-80k-correction-ahead">recently warned about the high levels of leverage</a> in the crypto market, suggesting that while Bitcoin&#8217;s rise to $100,000 seems inevitable, a correction to $80,000 could occur due to excessive leverage.
Furthermore,&nbsp;Michaël van de Poppe, a leading cryptocurrency analyst, has forecasted <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/42127938/bitcoin-analyst-warns-of-4-6-flash-crashes-before-year-end-as-it-inches-closer-to-100k-thats-the-moment-altcoins-shoot-off">multiple flash crashes for Bitcoin</a> before the year ends, potentially dropping its value by 5-10% in a single day. These corrections, however, could present strategic entry points for investors, as altcoins might experience significant growth post-correction.
Additionally, Van Eck&#8217;s CEO,&nbsp;Jan van Eck, has previously expressed a bold prediction that Bitcoin could <a href="https://www.benzinga.com/24/11/42009965/vaneck-ceo-boldly-predicts-bitcoin-at-300k-per-coin-reaching-half-of-golds-market-cap-in-the-face-of-growing-demand">eventually reach $300,000</a>, capturing a substantial share of the gold market as a digital alternative. This long-term outlook underscores the growing demand and institutional interest in Bitcoin as a hedge against inflation.
Price Action: At the time of writing, Bitcoin was trading at $98,663, down by 0.76% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42098871/bitcoin-holding-on-to-94000-ethereum-dogecoin-trade-lower-place-your-bets-up-or-down-brothers-says-trader?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin Holding On To $94,000, Ethereum, Dogecoin Trade Lower: &#8216;Place Your Bets, Up Or Down Brothers&#8217;</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Unsplash

Analyst Color

Price Target

Bitcoin Could Reach $180K In Current Cycle Thanks To Trump Victory, Says VanEck, But Has This Warning For Investors

Bankrupt cryptocurrency exchange&nbsp;FTX has announced plans to begin distributing payments to creditors and customers in early 2025. This follows the approval of its&nbsp;Chapter 11 Plan of Reorganization, which is expected to become effective by January.
What Happened:&nbsp;John Jay Ray III, the CEO of FTX, announced that the company anticipates its&nbsp;Chapter 11 Plan of Reorganization&nbsp;will be effective by January 2025.
Ray expressed satisfaction with the progress, stating, &#8220;We&nbsp;are pleased to announce that&nbsp;we will begin distributing proceeds&nbsp;in early 2025.&#8221;
He emphasized the expertise and ongoing efforts of the professional team supporting the debtors, who have already recovered billions for FTX&#8217;s creditors and customers.
See Also:&nbsp;<a href="https://www.benzinga.com/general/education/24/11/42098422/heres-how-much-100-invested-in-cardano-today-could-be-worth-if-ada-hits-new-all-time-highs?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Here&#8217;s How Much $100 Invested In Cardano Today Could Be Worth If ADA Hits New All-Time Highs</a>
The announcement follows FTX&#8217;s nearing completion of the final steps required for the reorganization plan.
Payments are expected to be made within 60 days of the plan&#8217;s activation.
&#8220;While&nbsp;we continue to take actions&nbsp;to maximize recoveries, we are&nbsp;full steam ahead to reach&nbsp;arrangements with our distribution agents&nbsp;and return proceeds to creditors&nbsp;and customers as quickly as&nbsp;possible," Ray added.
FTX plans to finalize arrangements&nbsp;with specialized distribution agents by&nbsp;early December. These agents will&nbsp;facilitate the global distribution of recoveries to customers, who will receive instructions to establish approved accounts with these agents.
FTX aims to announce the exact&nbsp;effective date of distribution by&nbsp;the end of next month.
Why It Matters: The announcement marks a pivotal moment in FTX&#8217;s bankruptcy proceedings.
In October, a U.S. bankruptcy judge approved&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41234936/ftx-to-repay-creditors-up-to-16-5b-is-this-bullish-for-bitcoin">FTX's plan</a>&nbsp;to repay creditors up to $16.5 billion, concluding a two-year bankruptcy saga.
This decision came after a series of legal challenges, including a&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40248878/ftx-alameda-ordered-to-pay-12-7b-to-creditors-by-u-s-judge">$12.7 billion restitution order</a>&nbsp;in August and a settlement over&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40791711/ftx-moves-to-settle-600m-robinhood-shares-dispute-with-14m-payment-amid-bankruptcy-proceed">Robinhood shares</a>&nbsp;in September.
The approval of the reorganization plan and the upcoming payments are crucial for restoring trust in the crypto ecosystem and providing relief to affected creditors and customers.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Bankrupt Crypto Exchange FTX To Commence Payments To Customers, Creditors In Early 2025

In a significant development for lunar exploration, Elon Musk-led&nbsp;SpaceX&#8216;s <a href="https://www.benzinga.com/topic/starship">Starship</a> has been chosen by&nbsp;Lunar Outpost&nbsp;to deliver its new moon rover, Eagle, to the lunar surface.
What Happened: This comes after a successful suborbital test flight of the 400-foot-tall Starship from Texas, marking its sixth flight.
&#8220;Having experienced the recent groundbreaking&nbsp;Starship test flight firsthand, we&#8217;re&nbsp;confident that SpaceX is advancing&nbsp;the most capable launch system&nbsp;ever created and will successfully&nbsp;land our Eagle vehicles on&nbsp;the surface of the moon," said Justin Cyrus, founder and CEO of Lunar Outpost.
This contract is a crucial step for Lunar Outpost&#8217;s mission to establish&nbsp;a sustainable human presence in&nbsp;space.
The company is collaborating with Leidos, MDA Space, Goodyear, and General Motors on the Eagle Rover.
The &#8220;Lunar Dawn&#8221; team, including Lunar Outpost, is one of three private groups selected by NASA to develop a version of the Lunar Terrain Vehicle (LTV) for the Artemis program.
See Also:&nbsp;<a href="https://www.benzinga.com/markets/equities/24/11/42081589/tesla-electric-offers-unlimited-overnight-charging-for-just-5-a-month-as-ev-giant-races-toward-500k-sales-target?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Tesla Electric Offers Unlimited Overnight Charging For Just $5 A Month As EV Giant Races Toward 500K Sales Target</a>
SpaceX&#8217;s Starship is also set to launch another LTV rover, FLEX, developed by&nbsp;Venturi Astrolab.
NASA has chosen Starship for its first crewed lunar landing under the <a href="https://www.benzinga.com/news/24/10/41400036/nasa-assigns-2-missions-to-spacex-for-2025-after-boeings-starliner-stranded-astronauts">Artemis 3 mission</a>, scheduled for late 2026.
Why It Matters: The selection of SpaceX&#8217;s Starship for the lunar mission underscores the company&#8217;s growing role in space exploration.
Recently, <a href="https://www.benzinga.com/24/11/42108681/spacex-shows-off-conceptual-version-of-starship-which-will-help-humans-land-back-on-moon-in-over-50-yrs">SpaceX unveiled a conceptual image</a> of the Starship Human Landing System (HLS) designed to facilitate the first human landing on the Moon since 1971.
This version of Starship will feature landing legs instead of a heat shield and flaps.
Additionally, Musk has expressed confidence in <a href="https://www.benzinga.com/general/space/24/11/42082169/elon-musk-predicts-tesla-cybertrucks-optimus-robots-will-be-aboard-spacex-starships-to-mars-in-2-years">SpaceX&#8217;s ability to send uncrewed Starships to Mars</a> within two years, potentially carrying&nbsp;Tesla Inc.&nbsp;Cybertrucks and Optimus robots as payloads.
Meanwhile,&nbsp;SpaceX&#8217;s satellite internet division, Starlink, <a href="https://www.benzinga.com/24/11/42082877/spacexs-starlink-enables-realtime-views-of-earth-during-starships-6th-test-flight-could-it-be-the-future-of-space-connectivity">demonstrated real-time Earth views</a> during Starship&#8217;s sixth test flight, showcasing the potential for enhanced space connectivity.
While SpaceX is currently a privately held company, investors can leverage&nbsp;Destiny Tech100 Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DXYZ#NASDAQ">DXYZ</a>) to participate in the Musk-led space company&#8217;s growth. According to data from&nbsp;<a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>, DXYZ has gained over 366% year-to-date.
Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: SpaceX

SPACE

DXYZ

Elon Musk's SpaceX Secures New Moon Mission Contract After Starship's Successful 6th Test Flight

Volkswagen (OTC:<a class="ticker" href="https://www.benzinga.com/stock/VWAGY#OTC">VWAGY</a>)&nbsp;is gearing up to introduce its budget-friendly ID.2 electric vehicle by the end of 2025, with an SUV version to follow. This move marks a significant step in Volkswagen&#8217;s strategy to expand its electric vehicle lineup.
What Happened: Volkswagen&nbsp;is on schedule to release its budget-friendly ID.2 electric vehicle by late 2025, <a href="https://www.autocar.co.uk/car-news/new-cars/volkswagen-overhaul-entire-electric-car-line-up-2026">reported</a> Autocar. This model is expected to be the most economical in the company&#8217;s lineup, priced under $27,000 (€25,000).
At the LA Auto Show,&nbsp;Volkswagen&#8217;s tech development head,&nbsp;Kai Grünitz, confirmed that the ID.2 will lead a major overhaul of the brand&#8217;s &#8220;ID&#8221; electric car series. Grünitz indicated that significant advancements are anticipated,&nbsp;starting in 2026, with a&nbsp;fresh design approach.
"It's matching 100% to our brand values: it will be stable and likable with our secret sauce—but in a different way," Grünitz said, according to the report.
See Also:&nbsp;<a href="https://www.benzinga.com/markets/equities/24/11/42081589/tesla-electric-offers-unlimited-overnight-charging-for-just-5-a-month-as-ev-giant-races-toward-500k-sales-target?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Tesla Electric Offers Unlimited Overnight Charging For Just $5 A Month As EV Giant Races Toward 500K Sales Target</a>
The&nbsp;ID.2 will be the first&nbsp;vehicle to utilize&nbsp;Volkswagen&#8217;s new MEB Entry Platform. An SUV version is slated for a reveal&nbsp;at the Munich Motor Show&nbsp;in September 2025, with a GTI model also in development.
Grünitz emphasized that the ID.2 will mark a new beginning for&nbsp;Volkswagen, with customers noticing a substantial transformation. The vehicle promises a range of up to 279 miles (450 km) and combines the spaciousness of a Golf with the affordability of a Polo.
Why It Matters:&nbsp;Volkswagen&#8217;s push to launch the ID.2 comes amid a challenging period for the company.
In the third quarter of 2024, the automaker experienced a 10% decline in electric vehicle sales, primarily in the U.S. and Europe, although&nbsp;<a href="https://www.benzinga.com/news/24/10/41307960/volkswagen-ev-sales-drop-10-in-q3-due-to-slowdown-in-us-and-eu-but-china-shines-as-a-bright-spot-wit">China showed a 5% growth</a>. This underscores the importance of the ID.2 as a strategic move to capture a larger market share.
Meanwhile, Volkswagen has been making strategic investments, such as increasing its stake in Rivian Automotive Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>). Analysts see this as a vital step for both companies, aiding in production and cost efficiency. The collaboration is expected to provide <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41938838/rivians-deal-with-volkswagen-will-help-ev-giant-navigate-the-ship-in-stormy-waters-says-top-analyst-maintains-outperform-rating-with-20-target">capital for future growth</a>, enhancing vehicle offerings and software integration.
Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Volkswagen

RIVN

VWAGY

Volkswagen's Affordable ID.2 EV Set For 2025 Launch, SUV Variant To Follow: 'Stable And Likable With Our Secret Sauce'

Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) is set to face a multibillion-dollar lawsuit following the <a href="https://www.benzinga.com/general/social-media/24/06/39259832/metas-legal-battle-over-cambridge-analytica-scandal-heads-to-supreme-court">dismissal of its appeal</a> by the U.S. Supreme Court over the Cambridge Analytica data scandal.
What Happened: The Supreme Court, which heard arguments on Meta's appeal on Nov. 6, gave no explanation for the dismissal.&nbsp;
It only stated that the case was being "dismissed as improvidently granted," <a href="https://www.bloomberg.com/news/articles/2024-11-22/facebook-appeal-over-shareholder-suit-dropped-by-supreme-court?srnd=phx-technology">reported</a> Bloomberg.&nbsp;
This dismissal increases the likelihood of Mark Zuckerberg's Meta facing a costly settlement, potentially as large as $2 billion, according to Bloomberg Intelligence analyst Matthew Schettenhelm.
In a statement, Meta has expressed disappointment and maintained that the plaintiff&#8217;s claims are baseless. "We will continue to defend ourselves as this case is considered by the district court."
See Also: <a href="https://www.benzinga.com/24/11/42053396/why-chinese-tech-giants-alibaba-bytedance-and-meituan-are-expanding-their-ai-footprints-in-silicon-valley-amid-us-efforts-to-block-progress?itm_source=parsely-api">China&#8217;s Tech Giants Alibaba, ByteDance, And Meituan Are Expanding Their Silicon Valley AI Footprints Amid US Efforts To Block Progress</a>
Meta is accused of misleading shareholders about the risks associated with the 2018 Cambridge Analytica scandal, involving the unauthorized use of personal data from over 30 million users.
The shareholders argue that revelations about the breach eventually led to two 2018 price drops that cost the company more than $200 billion in market value.
Meta did not immediately respond to <a href="https://pro.benzinga.com/dashboard">Benzinga&#8217;s</a> request for a statement.
Why It Matters: Meta faced another legal setback in October when a U.S. District Judge rejected the company's attempt to dismiss claims made in two separate lawsuits filed by U.S. states.
The lawsuits accused <a href="https://www.benzinga.com/news/24/10/41349398/mark-zuckerbergs-meta-to-face-lawsuits-over-teen-social-media-addiction-judge-rejects-dismissal-moti">Meta of contributing to mental health</a> issues among teenagers by making its platforms addictive.
Moreover, shareholder lawsuits have been a common occurrence in the tech industry. For instance, In October Alibaba Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>) agreed to a $433.5 million settlement in a class-action l<a href="https://www.benzinga.com/markets/equities/24/10/41559403/alibaba-agrees-to-433-5m-settlement-in-shareholder-class-action-lawsuit">awsuit filed by its shareholders</a>.
Similarly, Tilray Brands Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLRY#NASDAQ">TLRY</a>) also <a href="https://www.benzinga.com/news/legal/24/11/42015978/shareholder-lawsuit-challenges-tilrays-voting-tactics-for-authorized-share-increase">faced a shareholder lawsuit</a> accusing the company of misleading voting practices.
Currently, the Supreme Court is also reviewing an appeal by <a href="https://www.benzinga.com/news/legal/24/11/41960485/nvidias-crypto-past-returns-to-haunt-as-supreme-court-signals-green-light-for-lawsuit">Nvidia Corporation</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), which faces a lawsuit alleging it <a href="https://www.benzinga.com/news/legal/24/11/41960485/nvidias-crypto-past-returns-to-haunt-as-supreme-court-signals-green-light-for-lawsuit">misled shareholders about</a> its dependence on crypto-mining revenue ahead of a market crash.
Price Action: Meta&#8217;s shares dropped 0.7% on Friday, ending the day at $559.14. In after-hours trading, the stock gained 0.098%, reaching $559.69 as of this writing, according to <a href="https://pro.benzinga.com/dashboard">data from Benzinga Pro</a>.
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Photo courtesy: Shutterstock

BABA

TLRY

Meta Faces Multibillion-Dollar Lawsuit As Supreme Court Dismisses Appeal In Cambridge Analytica Data Scandal

The Securities and Exchange Commission or SEC has set a new record in financial penalties, with a significant portion resulting <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40809382/terraform-labs-historic-4-5b-settlement-with-sec-makes-2024-the-most-penalized-year-for-cr">from a settlement with</a> Terraform Labs.
What Happened: The regulator has gathered $8.2 billion in monetary penalties for the fiscal year 2024, marking the highest amount in the agency&#8217;s history.
This figure represents a 67% increase from the $4.9 billion collected in fiscal year 2023.
Despite the record penalty collection, the SEC saw a 26% decline in enforcement actions during the year, with 583 actions taken.
The regulator also barred 124 individuals from serving as officers and directors of public companies, marking the second-highest number in a decade.
See Also: <a href="https://www.benzinga.com/news/global/24/11/42148498/wall-street-rebounds-without-its-ai-darlings-boost-king-dollar-maintains-dominance-while-bitcoin-defies-gravity-this-week-in-the-markets?itm_source=parsely-api">Wall Street Rebounds Without Its AI Darling&#8217;s Boost, King Dollar Maintains Dominance While Bitcoin Defies Gravity: This Week In The Markets</a>
Moreover, the SEC returned $345 million to investors who had been impacted, bringing the total amount returned since fiscal year 2021 to over $2.7 billion.
The agency also processed 45,130 tips, complaints, and referrals during the year — a record high — including over 24,000 whistleblower submissions.
Notably, more than 14,000 of those submissions came from just two individuals. The regulator has awarded whistleblowers a total of $255 million.
Why It Matters: The SEC has been cracking down on companies for misleading public disclosures related to cybersecurity risks and breaches.
The record-breaking total was largely influenced by a significant monetary judgment against cryptocurrency company Terraform Labs and its former CEO Do Kwon, following a successful SEC jury trial.
The case was one of the largest securities frauds in U.S. history.
Another notable financial <a href="https://www.benzinga.com/markets/equities/24/01/36649969/morgan-stanley-to-pay-249m-penalty-in-block-trade-case-how-leaks-cost-blackstone-oaktree-million">penalty was a $249 million</a> settlement with Morgan Stanley, resolving SEC charges related to the disclosure of confidential information about large stock sales.
In October, the regulator also <a href="https://www.benzinga.com/government/24/10/41470706/sec-charges-four-companies-over-solarwinds-hacks-issues-millions-in-penalties">charged four major companies</a> over the SolarWinds hacks, issuing millions in penalties.
Earlier this month, JPMorgan Chase &amp; Co. also agreed to <a href="https://www.benzinga.com/news/large-cap/24/11/41685913/jpmorgan-to-pay-investors-151-million-after-sec-flags-various-law-violations">pay investors $151 million</a> following SEC charges for various law violations.
The stringent regulatory approach, particularly towards cryptocurrencies, has been a hallmark of SEC Chair Gary Gensler&#8217;s tenure, who <a href="https://www.benzinga.com/government/regulations/24/11/42120607/gary-gensler-to-step-down-as-sec-chair-on-trumps-inauguration-day">announced that he will step down</a> in January.
During his tenure, the SEC pursued <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40568347/after-binance-and-coinbase-gary-gensler-led-sec-set-to-lock-horns-with-crypto-exchange-kra">several enforcement actions</a> against prominent cryptocurrency firms, including filing lawsuits against Coinbase and Binance for allegedly running unregistered securities exchanges.
In July, President-elect Donald Trump had stated, "I will <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/40018935/trumps-bitcoin-conference-pledge-can-he-really-fire-sec-chair-gensler">fire Gary Gensler</a> on day one." His statement was an indication of a possible change in the SEC's stance on digital assets with the new administration.
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Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

SEC Shatters Record With $8.2B In Penalties For 2024, Led by Terraform Labs' Massive Settlement

Eric Jackson, the founder and portfolio manager at EMJ Capital, has shared his thoughts on the potential catalysts that could drive Bitcoin&#8217;s (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) value to $100,000.
What Happened: On Friday, Jackson appeared on CNBC&#8217;s Closing Bell and suggested that the upcoming Thanksgiving holiday, new SEC policies, and global adoption could spark Bitcoin&#8217;s next bull run.
During the interview, Jackson stated, &#8220;I think a lot of people that I talk to say, well, it&#8217;s just going to kiss $100,000 and pull back.&#8221;&nbsp;
Adding, &#8220;But I do think there&#8217;s a chance like that $100,000 milestone could be a rethink for a lot of investors both institutional, sovereign retail, and there are a bunch of catalysts ahead I think.&#8221;
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42052184/will-shiba-inu-coin-reach-1-cent-by-2025-47-of-benzinga-readers-say?itm_source=parsely-api">Will Shiba Inu Coin Reach 1 Cent By 2025? 47% Of Benzinga Readers Say…</a>
He went on to explain that the new SEC regime and the potential for a strategic reserve could be significant catalysts for Bitcoin.
Jackson also said that the Thanksgiving period often acts as a springboard for bullish crypto periods, rather than a setback.
He concluded by saying, &#8220;I think those names, you know, and the fact that they … there&#8217;s a real structure that&#8217;s going to be coming into place, around crypto and Bitcoin, I think those will be catalysts in and of themselves.&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> hitting an all-time high again today on the path to $100K. How much longer can the supportive action continue? <a href="https://twitter.com/ericjackson?ref_src=twsrc%5Etfw">@EricJackson</a> discusses:<a href="https://t.co/Z3PZanYx4F">https://t.co/Z3PZanYx4F</a>
&mdash; CNBC&#39;s Closing Bell (@CNBCClosingBell) <a href="https://twitter.com/CNBCClosingBell/status/1860091069284962733?ref_src=twsrc%5Etfw">November 22, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Why It Matters: Earlier, Galaxy Digital Holdings Ltd. CEO Mike Novogratz warned of a potential pullback due to excessive market leverage, but maintained that Bitcoin <a href="https://www.benzinga.com/24/11/42130693/bitcoins-path-to-100k-inevitable-but-leverage-to-the-gills-warns-mike-novogratz-predicts-80k-correction-ahead">reaching $100,000 is &#8220;inevitable.&#8221;</a>
Meanwhile, MicroStrategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) executive chairman Michael Saylor has predicted that Bitcoin could hit $13 million by 2045, a valuation that would put Bitcoin's market <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42116183/michael-saylor-predicted-bitcoin-to-hit-13-million-if-it-happens-it-will-entail-massive-hyperinflation-analyst-warns">cap at around $250 trillion</a>.
Companies like MicroStrategy, which <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42121936/bitcoin-boom-20-microstrategy-gains-traction-as-a-leveraged-bet-on-crypto-growth">owns more than 150,000 Bitcoins</a>, are emerging as key players in this evolving market, effectively operating as a leveraged bet on the cryptocurrency.
In a note to Benzinga, Sumit Gupta, co-founder of CoinDCX, highlighted the surge in <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42135905/bitcoin-nears-100000-momentum-could-continue-well-beyond-the-milestone-experts-note">trading activity as a key driver</a>. He also pointed to developments in the U.S. political landscape as a contributing factor.
The digital asset market has already benefited from the <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42131449/with-gary-gensler-preparing-to-quit-in-2025-secs-crypto-cases-likely-to-quietly-go-away-amid-trumps-pro-bitcoin-stance-says-pantera-capitals-katrina-paglia">incoming administration</a> of President-elect Donald Trump, with many speculating that a potential second term could bring more favorable regulatory policies for crypto.
Gupta added that speculation over SEC Chair Gary Gensler's resignation and the possibility of crypto-friendly leadership has further fueled investor optimism.
Price Action: At the time of writing, Bitcoin was trading at $98,816, up nearly 0.2% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Pixabay

Bitcoin's Road To $100K: Why Thanksgiving, New SEC Policies, And Global Adoption Could Spark The Next Bull Run, According To This Portfolio Manager

President-elect Donald Trump has picked hedge fund executive Scott Bessent as the U.S. Treasury Secretary.
What Happened: Bessent, 62 and founder of Key Square Group, was a leading candidate, <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42091821/could-donald-trumps-potential-treasury-secretary-be-out-of-his-depth-on-crypto-policy-polymarket-traders-just-cant-decide-on-a-favorite">competing with</a> former Fed Governor Kevin Warsh and private equity executive Marc Rowan.
While sharing the decision on Friday via his social media platform Truth Social, Trump lauded Bessent as "one of the World's foremost International Investors and Geopolitical and Economic Strategists."
<figure class="wp-block-image size-large"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/22205557/Screenshot-2024-11-23-at-7.25.49%E2%80%AFAM-900x1024.png" alt="" class="wp-image-661913" /><figcaption class="wp-element-caption">Source: Truth Social</figcaption></figure>
See Also: <a href="https://www.benzinga.com/news/legal/24/11/42147981/trumps-hush-money-sentencing-delayed-as-legal-immunity-debate-escalates">Trump&#8217;s Hush Money Sentencing Delayed As Legal Immunity Debate Escalates</a>
Bessent is known for his support of gradual tariffs and deregulation, aligning with Trump&#8217;s economic vision, which includes reviving manufacturing and achieving energy independence.
Despite his previous role as chief investment officer for George Soros' fund, Trump expressed confidence in Bessent&#8217;s ability to improve U.S. competitiveness and address trade imbalances.
Why It Matters: As Treasury Secretary, Bessent will replace outgoing Secretary Janet Yellen, overseeing financial institutions and combating financial crimes at a time when <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/42140842/sp-500-faces-volatile-2025-as-inflation-boom-could-return-bank-of-america-strategist">the national debt has ballooned to $36 trillion</a>.
According to <a href="https://www.benzinga.com/government/regulations/24/11/41909846/trumps-treasury-pick-frontrunner-scott-bessent-could-shift-wall-street-crypto">betting markets</a>, Bessent was a frontrunner with an 82% probability of securing the nomination. His appointment could significantly impact Wall Street and the crypto sector.
In October, Bessent assured that a new Trump administration would <a href="https://www.benzinga.com/economics/macro-economic-events/24/10/41308042/trump-adviser-defends-ex-presidents-economic-policies-strong-dollar-would-natural">support a strong dollar</a>, countering previous suggestions of a weaker dollar to boost exports.
Despite Elon Musk&#8217;s support for Howard Lutnick, <a href="https://www.benzinga.com/etfs/24/11/42044642/trump-appears-frustrated-as-elon-musk-chimes-in-on-treasury-secretary-adds-more-names-to-a-list-of-potential-picks">Trump favored Bessent&#8217;s</a> business-as-usual approach.
In July, Bessent gained attention for his optimistic stance on cryptocurrency, suggesting he might support digital assets if confirmed. &#8220;Crypto is about freedom and the crypto economy is here to stay,&#8221; he stated at the time.
The latest 13F filing from Bessent&#8217;s Key Square Group fund shows a highly concentrated portfolio, with equal investments in two banking-focused ETFs: the SPDR S&amp;P Regional Banking ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRE#NYSE">KRE</a>) and the SPDR S&amp;P Bank ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KBE#NYSE">KBE</a>), each making up 50% of the fund.
Read Next:
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<li><a href="https://www.benzinga.com/24/11/42146895/are-you-rich-enough-to-benefit-from-trumps-tax-breaks-heres-how-much-youd-need-to-be-part-of-the-top-5">Are You Rich Enough To Benefit From Trump&#8217;s Tax Breaks? Here&#8217;s How Much You&#8217;d Need To Be Part Of The Top 5%</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Politics

Trump Picks Hedge Fund Exec Scott Bessent As Treasury Secretary: What President-Elect's Choice Means For America's Economic Future

APLMW

Trading Halt: Halted at 7:50:00 p.m. ET - Trading Halt: Halt News Pending

APLM

UBS analyst Jay Sole maintains Gap (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GAP#NYSE">GAP</a>) with a Sell and raises the price target from $14 to $16.

Analyst Ratings

UBS Maintains Sell on Gap, Raises Price Target to $16

UBS analyst Mark Carden maintains BJ's Wholesale Club (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BJ#NYSE">BJ</a>) with a Buy and raises the price target from $102 to $108.

UBS Maintains Buy on BJ's Wholesale Club, Raises Price Target to $108

UBS analyst Steven Fisher maintains Deere (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DE#NYSE">DE</a>) with a Neutral and raises the price target from $404 to $462.

UBS Maintains Neutral on Deere, Raises Price Target to $462

UBS analyst Karl Keirstead maintains Salesforce (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NYSE">CRM</a>) with a Neutral and raises the price target from $275 to $360.

UBS Maintains Neutral on Salesforce, Raises Price Target to $360

Primech Holdings Ltd. (PMEC) has released an update. Primech Holdings Ltd. is set to hold its Annual General Meeting (AGM) on August 19, 2024, wher...

Primech Holdings AGM Scheduled for Shareholder Decisions

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
It&rsquo;s time to dive into the biggest pre-market stock movers for Wednesday as we check out all of the hottest news happening this morning!



Moving stocks this morning are clinical trial updates, earnings reports and more.



Let&rsquo;s get into that news below!



<h2>Biggest Pre-Market Stock Movers: 10 Top Gainers</h2>



<ol><li>Primech (NASDAQ:<a href="https://investorplace.com/stock-quotes/pmec-stock-quote/">PMEC</a>) stock is rocketing close to 90% alongside heavy pre-market trading.</li>



<li>Nuzee (NASDAQ:<a href="https://investorplace.com/stock-quotes/nuze-stock-quote/">NUZE</a>) shares are soaring more than 69% with strong early morning trading.</li>



<li>Heramba Electric (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PITA#NASDAQ">PITA</a>) stock is surging over 43% with increasing trading activity this morning.</li>



<li>Bionomics (NASDAQ:<a href="https://investorplace.com/stock-quotes/bnox-stock-quote/">BNOX</a>) shares are gaining more than 31% on a <a href="https://www.nasdaq.com/press-release/bionomics-announces-successful-end-phase-2-meeting-fda-development-bnc210-post">Phase 2 clinical trial meeting</a>.</li>



<li>Powell Industries (NASDAQ:<a href="https://investorplace.com/stock-quotes/powl-stock-quote/">POWL</a>) stock is rising over 25% after <a href="https://finance.yahoo.com/news/powell-industries-powl-q3-earnings-214005995.html">beating Q3 estimates</a>.</li>



<li>BIMI International Medical (NASDAQ:<a href="https://investorplace.com/stock-quotes/bimi-stock-quote/">BIMI</a>) shares are increasing more than 20% with strong early morning trading today.</li>



<li>DallasNews (NASDAQ:<a href="https://investorplace.com/stock-quotes/daln-stock-quote/">DALN</a>) stock is climbing over 18% with its <a href="https://investorplace.com/earning-results/2024/07/daln-stock-earnings-dallasnews-for-q2-of-2024/">Q2 earnings report</a>.</li>



<li>Faraday Future (NASDAQ:<a href="https://investorplace.com/stock-quotes/ffie-stock-quote/">FFIE</a>) shares are jumping more than 17% after <a href="https://finance.yahoo.com/news/faraday-future-regains-compliance-nasdaq-031500213.html">regaining listing compliance</a>.</li>



<li>GraniteShares 2x Long AMD Daily ETF (NASDAQ:<a href="https://investorplace.com/stock-quotes/amdl-stock-quote/">AMDL</a>) stock is getting an over 17% boost this morning.</li>



<li>Talen Energy (NASDAQ:<a href="https://investorplace.com/stock-quotes/tln-stock-quote/">TLN</a>) shares are up more than 17% after <a href="https://www.nasdaq.com/press-release/talen-reports-pjm-auction-results-2025-2026-planning-year-2024-07-30">reporting PJM Auction Results</a>.</li>
</ol><h2>10 Top Losers</h2>



<ol><li>FibroGen (NASDAQ:<a href="https://investorplace.com/stock-quotes/fgen-stock-quote/">FGEN</a>) stock is plummeting over 44% on a <a href="https://www.nasdaq.com/press-release/fibrogen-announces-topline-results-two-late-stage-pamrevlumab-pancreatic-cancer">failed clinical trial</a>.</li>



<li>Macrogenics (NASDAQ:<a href="https://investorplace.com/stock-quotes/mgnx-stock-quote/">MGNX</a>) shares are diving more than 26% as it <a href="https://www.nasdaq.com/press-release/macrogenics-provides-vobramitamab-duocarmazine-update-2024-07-30">discontinues a clinical trial</a>.</li>



<li>Jet AI (NASDAQ:<a href="https://investorplace.com/stock-quotes/jtai-stock-quote/">JTAI</a>) stock is tumbling over 21% on an <a href="https://www.nasdaq.com/press-release/jetai-announces-expiration-and-successful-results-exchange-offer-and-consent">exchange offer for its warrants</a>.</li>



<li>Penumbra (NYSE:<a href="https://investorplace.com/stock-quotes/pen-stock-quote/">PEN</a>) shares are taking a more than 18% beating <a href="https://finance.yahoo.com/news/penumbra-pen-reports-q2-earnings-230019255.html">with its Q2 earnings report</a>.</li>



<li>Groupon (NASDAQ:<a href="https://investorplace.com/stock-quotes/grpn-stock-quote/">GRPN</a>) stock is sliding over 17% <a href="https://investorplace.com/earning-results/2024/07/grpn-stock-earnings-groupon-for-q2-of-2024/">on an EPS miss</a>.</li>



<li>Definitive Healthcare (NASDAQ:<a href="https://investorplace.com/stock-quotes/dh-stock-quote/">DH</a>) shares are falling more than 16% without any clear news this morning.</li>



<li>Netcapital (NASDAQ:<a href="https://investorplace.com/stock-quotes/ncpl-stock-quote/">NCPL</a>) stock is dropping over 16% after <a href="https://investorplace.com/earning-results/2024/07/ncpl-stock-earnings-netcapital-for-q4-of-2024/">missing estimates in fiscal 2024</a>.</li>



<li>O-I Glass (NYSE:<a href="https://investorplace.com/stock-quotes/oi-stock-quote/">OI</a>) shares are decreasing more than 15% <a href="https://www.stocktitan.net/news/OI/o-i-glass-reports-second-quarter-2024-71rm58wp8yg0.html">with its Q2 results</a>.</li>



<li>Lemonade (NYSE:<a href="https://investorplace.com/stock-quotes/lmnd-stock-quote/">LMND</a>) stock is slipping over 13% <a href="https://www.marketwatch.com/story/lemonades-stock-slides-14-after-posting-q2-loss-5e14bea8">alongside a weak guidance</a>.</li>



<li>Tivic Health Systems (NASDAQ:<a href="https://investorplace.com/stock-quotes/tivc-stock-quote/">TIVC</a>) shares close out our pre-market stock movers down 13% <a href="https://investorplace.com/2024/07/tivic-health-systems-tivc-stock-pops-another-39-july-29th/">after a rally yesterday</a>.</li>
</ol>On the date of publication, William White did 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&nbsp;InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.
<h3>More From InvestorPlace</h3>
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					</li>
									</ul>The post <a href="https://investorplace.com/2024/07/todays-biggest-pre-market-stock-movers-10-top-gainers-and-losers-on-wednesday-july-31st/">Today's Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Wednesday</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

Today's Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Wednesday

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Primech&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/pmec-stock-quote/">PMEC</a>) stock is rocketing higher on Wednesday alongside heavy pre-market trading of the facilities and stewarding services company&rsquo;s shares.



This has more than 7.6 million shares changing hands as of this writing. That&rsquo;s already well above its daily average trading volume of about 239,000 shares. Investors will also note that Primech&rsquo;s float is <a href="https://finance.yahoo.com/quote/PMEC/key-statistics/">only about 6.76 million units</a>.



There are no updates from PMEC that explain why the company&rsquo;s stock is up today. That includes a lack of press releases or filings with the Securities and Exchange Commission (SEC). There also isn&rsquo;t any analyst coverage that would cause today&rsquo;s rally.



What is worth keeping in mind is PMEC being a penny stock. That comes from its prior closing price of 53 cents and a market capitalization of only $20.022 million.



<h2>What That Means for PMEC Stock</h2>



Being a penny stock comes with certain concerns that traders should keep in mind. That includes extra volatility alongside heavy trading of the company&rsquo;s stock.



Primech shares could be rallying today due to manipulation from retail and day traders. It could also be up as speculative traders buy its shares. No matter the case, its a risky investment to take today.



PMEC stock is up 59.7% as of Wednesday morning.



Investors will want to stick around for more of the most recent stock market news today!



We have all of the hottest stock market happenings worth reading about on Wednesday! That includes the biggest pre-market stock movers and other news. You can catch up on all of this by checking out the links below!



<h2>More Wednesday Stock Market News</h2>



<ul><li><a href="https://investorplace.com/2024/07/todays-biggest-pre-market-stock-movers-10-top-gainers-and-losers-on-wednesday-july-31st/">Today&rsquo;s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on&nbsp;Wednesday</a></li>



<li><a href="https://investorplace.com/2024/07/siggraph-2024-what-to-watch-for-nvidia-so-far/">SIGGRAPH 2024: What to Watch for Nvidia So Far</a></li>



<li><a href="https://investorplace.com/2024/07/should-you-buy-intel-intc-stock-before-aug-1/">Should You Buy Intel (INTC) Stock Before Aug. 1?</a></li>
</ul>On Penny Stocks and Low-Volume Stocks:&#8239;With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That&rsquo;s because these &ldquo;penny stocks&rdquo; are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that&#8239;InvestorPlace.com&rsquo;s writers disclose this fact and warn readers of the risks.



Read More:&#8239;Penny Stocks &mdash;&nbsp;<a href="https://investorplace.com/2014/05/fraud-penny-stocks-scams/" target="_blank">How to Profit Without Getting Scammed</a>



On the date of publication, William White did 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&nbsp;InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.
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									</ul>The post <a href="https://investorplace.com/2024/07/why-is-primech-pmec-stock-up-60-today/">Why Is Primech (PMEC) Stock Up 60% Today?</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

Why Is Primech (PMEC) Stock Up 60% Today?

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Nuzee&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/nuze-stock-quote/">NUZE</a>)&nbsp;stock is up on Wednesday with heavy pre-market trading of the coffee&nbsp;and tea company&rsquo;s shares this morning.



That has more than 4 million shares of NUZE stock on the move as of this writing. This is already above its daily average trading volume of about 3 million shares. It&rsquo;s also worth noting that the company&rsquo;s <a href="https://finance.yahoo.com/quote/NUZE/key-statistics/">float is roughly 406,140 units</a>.



This movement comes without any clear news from Nuzee. The single-serve coffee company hasn&rsquo;t released any press releases or filings that would cause this morning&rsquo;s rally. There&rsquo;s also no analyst coverage that would act as a catalyst for today&rsquo;s movement.



Instead, traders will keep in mind that NUZE is a penny stock. That comes from its prior closing price of $3.70 per share and a market capitalization of just $16.385 million.



<h2>How This Affects NUZE Stock</h2>



Being a penny stock opens Nuzee up to certain vulnerabilities. That includes volatility alongside the strong trading of its shares.



This could be the sign of manipulation by retail or day traders. If that&rsquo;s the case, it makes NUZE stock a risky investment this morning as the pump likely won&rsquo;t last long before the dump. It could also be a sign of speculative traders buying its shares.



NUZE stock is up 64.3% as of Wednesday morning.



There are more stock market stories traders will want to read about below!



We have all of the hottest stock market news ready to go on Wednesday! Among that is what has shares of Primech&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/pmec-stock-quote/">PMEC</a>) stock up, the biggest pre-market stock movers this morning and more. All of this info is ready to go at the links below!



<h2>More Wednesday Stock Market News</h2>



<ul><li><a href="https://investorplace.com/2024/07/why-is-primech-pmec-stock-up-60-today/">Why Is Primech (PMEC) Stock Up 60% Today?</a></li>



<li><a href="https://investorplace.com/2024/07/todays-biggest-pre-market-stock-movers-10-top-gainers-and-losers-on-wednesday-july-31st/">Today&rsquo;s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on&nbsp;Wednesday</a></li>



<li><a href="https://investorplace.com/2024/07/siggraph-2024-what-to-watch-for-nvidia-so-far/">SIGGRAPH 2024: What to Watch for Nvidia So Far</a></li>
</ul>On Penny Stocks and Low-Volume Stocks:&#8239;With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That&rsquo;s because these &ldquo;penny stocks&rdquo; are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that&#8239;InvestorPlace.com&rsquo;s writers disclose this fact and warn readers of the risks.



Read More:&#8239;Penny Stocks &mdash;&nbsp;<a href="https://investorplace.com/2014/05/fraud-penny-stocks-scams/" target="_blank">How to Profit Without Getting Scammed</a>



On the date of publication, William White did 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&nbsp;InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.
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									</ul>The post <a href="https://investorplace.com/2024/07/why-is-nuzee-nuze-stock-up-64-today/">Why Is Nuzee (NUZE) Stock Up 64% Today?</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

Why Is Nuzee (NUZE) Stock Up 64% Today?

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Macrogenics&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/mgnx-stock-quote/">MGNX</a>) stock is dropping on Wednesday as the biopharmaceutical company prepares to <a href="https://www.nasdaq.com/press-release/macrogenics-provides-vobramitamab-duocarmazine-update-2024-07-30">discontinue a clinical trial</a> of vobramitamab duocarmazine.



This is the company&rsquo;s candidate for metastatic castration-resistant prostate cancer (mCRPC). The company has decided to no longer move forward with its TAMARACK Phase 2 study for patients who could have received additional doses.



Macrogenics&nbsp;is making this decision due to the primary endpoint of its study already being met. This suggestion came from the Independent Data Monitoring Committee (IDMC) of the clinical trial. It will present this data in a poster presentation in September.



Scott Koenig, M.D., Ph.D., president and CEO of&nbsp;MacroGenics, said the following about the news.




&ldquo;Patient safety is our top priority, and having reached the study&rsquo;s primary endpoint, we decided to discontinue additional dosing for the remaining TAMARACK participants who had not yet completed treatment. We expect to have the data necessary to determine next steps for the vobra duo program later this year and will provide further updates on an investor call following our ESMO presentation.&rdquo;




<h2>How This Affects MGNX Stock</h2>



Investors aren&rsquo;t reacting well to this news with shares of MGNX stock falling 28.2% as of Wednesday morning. The stock was also down 48.3% year-to-date when markets closed on Tuesday.



Investors who are seeking out even more of the most recent stock market stories today are in the right place!



We have all of the hottest stock market happenings that traders need to read about on Wednesday! That includes everything happening with shares of FibroGen&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/fgen-stock-quote/">FGEN</a>) stock, Nuzee&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/nuze-stock-quote/">NUZE</a>) stock and Primech&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/pmec-stock-quote/">PMEC</a>) stock this morning. You can catch up on all of these matters by checking out the links below!



<h2>More Stock Market News for Wednesday</h2>



<ul><li><a href="https://investorplace.com/2024/07/why-is-fibrogen-fgen-stock-down-44-today/">Why Is FibroGen (FGEN) Stock Down 44% Today?</a></li>



<li><a href="https://investorplace.com/2024/07/why-is-nuzee-nuze-stock-up-64-today/">Why Is Nuzee (NUZE) Stock Up 64% Today?</a></li>



<li><a href="https://investorplace.com/2024/07/why-is-primech-pmec-stock-up-60-today/">Why Is Primech (PMEC) Stock Up 60% Today?</a></li>
</ul>On the date of publication, William White did 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&nbsp;InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.
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					</li>
									</ul>The post <a href="https://investorplace.com/2024/07/why-is-macrogenics-mgnx-stock-down-28-today/">Why is Macrogenics (MGNX) Stock Down 28% Today?</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

Why is Macrogenics (MGNX) Stock Down 28% Today?

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
FibroGen&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/fgen-stock-quote/">FGEN</a>) stock is falling hard on Wednesday after the biopharmaceutical company <a href="https://www.nasdaq.com/press-release/fibrogen-announces-topline-results-two-late-stage-pamrevlumab-pancreatic-cancer">reported results from failed clinical trials</a>.



The first failed clinical trial covers the treatment of metastatic pancreatic cancer with pamrevlumab. FibroGen&nbsp;said that this didn&rsquo;t meet its primary endpoint of overall survival. This was determined based on the protocol pre-specified Bayesian statistical analysis.



The second failed study covered the use of pamrevlumab&nbsp;combined with gemcitabine + nab-paclitaxel to treat unresectable pancreatic cancer. Yet again, the clinical trial failed to reach its primary endpoint of overall survival.



These are major blows to FibroGen&nbsp;as these weren&rsquo;t early clinical trials. The metastatic pancreatic cancer trial was in the Phase 2/3 range while the unresectable pancreatic cancer one was a Phase 3 study.



FibroGen&nbsp;CEO Thane Wettig said the following about the clinical trial results.




&ldquo;We are deeply disappointed that the pamrevlumab arm in the Precision Promise trial and the LAPIS trial did not meet the primary endpoint of overall survival. We were hopeful that pamrevlumab could bring meaningful innovation to pancreatic cancer patients in desperate need of new therapies.&rdquo;




<h2>What&rsquo;s Next for FGEN Stock</h2>



Considering the results of these clinical trials, FibroGen&nbsp;is immediately going to go into cost-saving mode. That includes the termination of the pamrevlumab program. This will reduce its total headcount by 75%.



FGEN stock is down 44.4% as of Wednesday morning.



Investors will want to stick around for more of the most recent stock market news!



We have all of the latest market happenings worth reading about today! A few examples include what&rsquo;s going on with shares of Nuzee&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/nuze-stock-quote/">NUZE</a>) and Primech&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/pmec-stock-quote/">PMEC</a>) stock, as well as the biggest pre-market stock movers this morning. All of this info is ready to go at the links below!



<h2>More Wednesday Stock Market News</h2>



<ul><li><a href="https://investorplace.com/2024/07/why-is-nuzee-nuze-stock-up-64-today/">Why Is Nuzee (NUZE) Stock Up 64% Today?</a></li>



<li><a href="https://investorplace.com/2024/07/why-is-primech-pmec-stock-up-60-today/">Why Is Primech (PMEC) Stock Up 60% Today?</a></li>



<li><a href="https://investorplace.com/2024/07/todays-biggest-pre-market-stock-movers-10-top-gainers-and-losers-on-wednesday-july-31st/">Today&rsquo;s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on&nbsp;Wednesday</a></li>
</ul>On the date of publication, William White did 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&nbsp;InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.
<h3>More From InvestorPlace</h3>
		<ul><li>
						<a href="https://investorplace.com/2024/04/legendary-investor-predicts-forget-a-i-this-technology-is-the-future/?cid=MKT794457&amp;eid=MKT802109">Legendary Investor Predicts: &ldquo;Forget AI... THIS Technology Is the Future&rdquo;</a>
					</li>
									</ul>The post <a href="https://investorplace.com/2024/07/why-is-fibrogen-fgen-stock-down-44-today/">Why Is FibroGen (FGEN) Stock Down 44% Today?</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

Why Is FibroGen (FGEN) Stock Down 44% Today?

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