Stephen Chen, CEO of Phunware Inc. (NASDAQ:PHUN), has outlined ambitious plans for the company’s global expansion, leveraging its established ties with President-elect Donald Trump.
In an exclusive chat with Benzinga, Chen spoke about the company’s ongoing relationship with President-elect Donald Trump.
Phunware’s stock has been notably volatile this year, largely influenced by Trump’s presidential campaign. The company has been linked to Trump since 2020 when it developed and managed his reelection campaign mobile app.
Chen expressed satisfaction with the partnership, noting that Phunware has been refining its products and is now prepared to support a variety of campaigns and advocacy projects.
He emphasized the company’s versatility, highlighting its voter engagement platform and potential benefits beyond the campaign trail.
Looking ahead, Chen revealed plans to leverage Phunware’s engagement platform for local, regional, and international campaigns.
He stated, “Helping elected figures and the public doesn’t end on election day, as there are local, regional, and even overseas campaigns we can help,” indicating a focus on expanding their technology’s application.
Regarding future collaborations with Trump or the Republican party, Chen remained non-committal but confident in Phunware’s ability to provide robust engagement solutions for political groups across the spectrum.
As per Benzinga Pro, the year-to-date returns of PHUN have increased by 6.01%. It has a consensus price target of $10.75 based on the ratings of four analysts. Ascendiant Capital, HC Wainwright & Co., and HC Wainwright & Co. have set a price target of $9.33 with an implied 112.60% upside.
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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
Image via Shutterstock
Streaming giant Netflix Inc (NASDAQ:NFLX) is set to release the highly anticipated second season of “Squid Game” on Dec. 26, adding to an exciting month with its first live NFL games on Christmas Day.
A Benzinga reader poll shows the second season might face more of an uphill battle for viewers compared to the first season in 2021.
What Happened: Released in September 2021, “Squid Game” shattered viewership records for Netflix with 1.65 billion hours watched in the first four weeks of availability.
The series became a massive hit and pop culture phenomenon and fans have eagerly been awaiting a second season.
Netflix will premiere all seven episodes of the second season on Dec. 26, beginning at 3 a.m. ET. Benzinga recently polled readers to see how eager people are to watch the new season.
“Will you be watching ‘Squid Game’ season 2?” Benzinga asked.
The results were:
- No, I don’t plan to watch: 70%
- Yes, I’ll binge-watch the entire season when it’s out: 21%
- Yes, I’ll watch each episode as soon as I can: 9%
The poll found that Benzinga readers are less excited about the second season compared to the interest generated by the first season.
The day-after-Christmas release could be a double-edged sword for Netflix. While the timing benefits from people being off work, it also coincides with family gatherings that might limit viewership.
Netflix will also be competing with MrBeast‘s “Beast Games,” a record-breaking game show on Amazon.com‘s (NASDAQ:AMZN) Prime Video. “Beast Games” released its first two episodes on Dec. 19 with a third episode coming on Dec. 26. The show features elements similar to the contests featured in “Squid Game.”
Read Also: Streamers Max, Paramount+ Won November: Here’s Why Analyst Expects Netflix, Amazon To Win December
What’s Next: The second season of “Squid Game” will bring back several cast members from the first season. The new season has already been nominated for a Golden Globe and could become a favorite on the awards circuit, given more hype around the show this time.
Returning for the second season is the winner of the game in the first season, Seong Gi-hun (aka Player 456), portrayed on screen by Lee Jung-jae. Director and writer Hwang Dong-Hyuk also returns for the second season.
The second season features new characters and revolves around Gi-hun, who returns to the game three years after the competition to search for the people behind it and shut it down for good, as reported by Deadline.
This time, characters competing for the prize include a former cryptocurrency influencer who loses a large amount of money for his subscribers and himself. The crypto influencer becomes a fugitive before joining the Squid Game competition, according to the report.
Another one of the 400-plus contestants in the games is a woman who made bad investments following the advice of the same cryptocurrency influencer taking part in the games.
Following the second season, a third and final season of the hit show will be released in 2025. Director Hwang said the second and third seasons were written at the same time and both were produced simultaneously. The third season is currently in the post-production process, the director said.
The first season of “Squid Game” has been watched by a total of 330 million viewers and a total of 2.8 billion hours have been streamed since the release, as reported by Variety. The overall metrics and the first four weeks’ totals for the second season will be used to compare the success of the newest season.
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The study was conducted by Benzinga from Dec. 18 through Dec. 19, 2024, and included the responses of a diverse population of adults 18 or older. Opting into the survey was completely voluntary, with no incentives offered to potential respondents. The study reflects results from 145 adults.
Photo by DANIEL CONSTANTE on Shutterstock
Bitcoin (CRYPTO: BTC) started the year with an impressive All-Time High (ATH) of greater than $77,000 in March after the approval of Bitcoin ETFs by the US Security and Exchange Commission (SEC). However, BTC has a penchant for exceeding expectations. It shattered the high from earlier in the year on December 3 when it finally crossed the $100,000 mark and reached over $103,5000. Two weeks later, Bitcoin exceeded $107,000 and now sits at just over $92,000.
There are many reasons for Bitcoin’s growth and the burgeoning mainstream acceptance of the coin. Consistent global inflation and low interest rates have encouraged institutional and retail investors to look to BTC as a hedge against inflation. The re-election of Donald J. Trump and the announced resignation of Gary Gensler as chairman of the SEC have also helped foster optimistic sentiments among investors.
Trump nominated Paul Atkins as Gensler’s successor and Atkins has a reputation of supporting cryptocurrencies and creating a more open regulatory environment for digital assets stemming from his tenure as SEC Commissioner between 2002 and 2008.
Read Also: Bitcoin Price Decisively Back Below $100,000: What Is Going On?
In November, we spoke with investor and Bitcoin supporter, Tim Draper, who called for $120,000 BTC in 2024. Judging by MicroStrategy’s $5.4 billion BTC buy, Draper later said the estimate may be too low.
What do other experts in digital assets have to say about the trajectory of the world’s most famous cryptocurrency in the waning days of 2024? And where do they see BTC going in 2025?
We spoke with Grant Cardone of Cardone Capital, Caitlin Long of Custodia Bank, Anthony Scaramucci of Skybridge Capital, Sandeep Nailwal of Polygon and Dean Skurka of WonderFi to get their unique perspectives on the future of BTC.
Grant Cardone, Fund Manager / CEO Cardone Capital, CEO of Cardone Training Technologies, Inc.
Cardone, entrepreneur, real estate mogul and motivational speaker, has taken an avid interest in crypto and recently announced the launch of Cardone Capital Space Coast Bitcoin Fund (Fund 26). In a tweet on X, Cardone said: “Commitments for ~100% of $87.5M fund. Targeting 30% annual returns & 100% return of all capital at 48 months.”
When asked in interview about the future of Bitcoin, Cardone said “It is still early in fact because of the amount of adoption by governments, corporations, state treasuries & private business owners; we are still very early.”
Cardone added the number of ways it’s possible to gain exposure to Bitcoin as another cause for confidence.
“You can gain exposure to Bitcoin by buying it directly, through ETF investments, stocks of companies like MicroStrategy and now in real estate vehicles like we’ve created at CardoneCapital that uses cash flow to dollar cost average purchase the Bitcoin and spike traditional stable real estate returns.”
Caitlin Long, Founder & CEO, Custodia Bank
Long is a vocal advocate of Bitcoin and has been an open critic of Gensler’s tenure at the head of the SEC. Custodia Bank faced resistance from federal regulators, and in 2023, the Federal Reserve Board rejected it, citing concerns over the risks in digital assets.
Custodia offers segregated custody accounts for Bitcoin and Long is a true believer in the fundamentals behind BTC. In an interview, she expressed her optimism for BTC.
“I don’t make price predictions, but for fundamental reasons tied to halvings, Bitcoin has pronounced 4-year cycles – 210,000 blocks at 10-minute average block intervals, to be precise. If the past is prologue, 2025 will be a bull market year. Generally, more ‘up and to the right’ movements should be on tap!”
Anthony Scaramucci, Founder & CEO of SkyBridge Capital
Scaramucci is a strong supporter of cryptocurrencies and uses his platform to educate traditional investors on BTC’s potential. SkyBridge offers crypto funds including the SkyBridge Bitcoin Fund.
He recently published his latest book, “The Little Book of Bitcoin: What You Need to Know that Wall Street Has Already Figured Out.”
Asked where he expects BTC to land by the end of 2024, Scaramucci said, “I see us finishing the year around the $100,000 level. We need to digest this big post-election move and see more concrete plans from the Trump regime on new regulatory frameworks.”
Scaramucci’s prognostications for 2025 were even more bullish, similar to Tim Draper’s predictions.
“I see Bitcoin doubling in 2025 to $200,000. Don’t underestimate Sen. Cynthia Lummis’ determination to build a Strategic Bitcoin Reserve, which would likely cause a cascading effect with other nation-states and corporations.”
Sandeep Nailwal, Co-Founder Of Polygon
Nailwal is a visionary in the blockchain industry, not only for helping to found the Layer 2 blockchain network, Polygon (CRYPTO: MATIC) to add speed and reduce costs while using the Ethereum Virtual Machine (EVM), but also for his work shaping the Ethereum (CRYPTO: ETH) ecosystem, creating tools to make blockchain development easier as well as for his work developing ZK-rollups, sidechain technology and modular frameworks for greater scalability.
Nailwal stands with most leaders in the blockchain space – a stronger BTC is a net win for all parts of Web3.
“Bitcoin’s success is a win for everyone in crypto. It builds trust, brings in more people, and shows the world what decentralized tech can do.
As more users and institutions embrace Bitcoin, it creates a gateway for them to explore the broader blockchain space. That isn’t just about Bitcoin thriving – it’s about unlocking new ideas, driving innovation, and helping the entire ecosystem grow stronger together.”
Dean Skurka, President And CEO WonderFi
Skura’s work has focused on compliance and accessibility in cryptocurrency, ultimately seeking to bring traditional finance and digital finance closer together.
Skura is optimistic that the changing regulatory landscape in the US will be good news for BTC.
“With the incoming administration in the US, discussions of a National Bitcoin Strategic Reserve, and continued institutional inflows into US Spot Bitcoin ETFs, we expect Bitcoin to continue to gain mainstream adoption, which will only further improve the long-term prospects for Bitcoin. The industry’s prospects have never looked brighter, and we look forward to many more milestones in 2025.”
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Embedded finance is reshaping how people interact with financial services, offering solutions integrated into everyday applications. During a panel discussion on embedded finance at the Benzinga Fintech Deal Day & Awards event, Rob Nardelli of DailyPay shared an example of how real-time earned wage access redefines financial accessibility.
Challenges with Traditional Banking Systems
Nardelli explained the concept: “Earned wage access simply means giving workers the ability to access their wages as they earn them in real-time without waiting until their regularly scheduled payday.” He highlighted how DailyPay uses tools such as real-time payments and Visa Direct for instant transactions, providing financial flexibility to users.
One illustrative story involved a DailyPay user who needed funds for gas during a first date. He accessed his earned wages instantly through the app with no other options. “There is a happy ending to this story,” Nardelli added. “That couple… are now married happily.”
Diksha Gera, a senior analyst at Bloomberg Intelligence, provided a contrasting perspective by recounting her experience with traditional banking. After moving to the U.S., she found opening a bank account cumbersome, especially when faced with unfamiliar systems like paper checks. “Nobody wants to go and make banking another task in the day,” she remarked.
This frustration highlights the significance of integrating banking services into non-financial platforms, enabling users to access solutions without the inefficiencies of legacy systems.
The Role of Real-Time Payments
Real-time payments are a critical driver of embedded finance, offering immediate transactions and reducing delays associated with traditional banking. According to Gera, countries like India and Brazil are leading the charge, with widespread adoption of real-time payment systems accelerating financial inclusion.
However, the adoption rate in the U.S. remains slower. Gera pointed out that the country’s entrenched reliance on credit cards challenges faster integration. Despite these hurdles, advancements such as the FedNow system and private partnerships indicate progress.
Nardelli echoed these sentiments, noting that real-time payments are central to DailyPay’s success. He highlighted their role in reducing financial stress for users and emphasized the importance of robust pre-payment due diligence to mitigate risks such as fraud.
FinTech and Banking Partnerships Are Crucial
Collaboration between fintech firms and traditional banks emerged as another focal point of the discussion. Sarah Biller, co-founder of FinTech Sandbox, described these partnerships as vital for scaling embedded finance solutions. “We have to treat [fintech partners] like a digital branch,” she said, underscoring the need for collaboration while adhering to rigorous compliance standards.
The panelists agreed that regulatory clarity and robust infrastructure are essential to fostering effective collaborations. As banks and fintechs continue to align, the evolution of embedded finance is poised to address longstanding gaps in accessibility and convenience.
This growing integration, bolstered by technology and strategic partnerships, is paving the way for a more inclusive and efficient financial future.
Photo by Corynn Egreczky
Streaming giant Netflix Inc (NASDAQ:NFLX) could get a viewership boost on Christmas Day thanks to the media rights to two marquee NFL games.
A recent Benzinga poll asks if viewers will be subscribing to Netflix to gain access to the NFL games or watching if they are already a subscriber.
What Happened: Netflix’s push into sports and live content is gaining steam with the recent release of a Mike Tyson vs. Jake Paul boxing match that saw huge demand and the recent announcement that the streamer will be the exclusive home to the 2027 and 2031 Women’s World Cups for American viewers.
On Dec. 25, Netflix will stream two NFL games, the first in a multi-year partnership that will see the streamer air at least one game on Christmas in 2024, 2025 and 2026.
This year’s matchups feature four NFL teams that have all secured a spot in the NFL Playoffs and are among the best in the league. Here are the games:
- 1 p.m. ET: Kansas City Chiefs (14-1) at Pittsburgh Steelers (10-5)
- 4:30 p.m. ET: Baltimore Ravens (10-5) at Houston Texans (9-6)
Of the nine NFL teams with 10 or more wins, three are playing on Christmas Day on Netflix. The Chiefs and Texans have won their division, with the Steelers and Ravens both in the playoffs but fighting to win the same division.
Benzinga recently asked to see if subscribers will be watching the games along with their holiday festivities.
“Will you watch Christmas NFL games on Netflix?”
Here were the results:
- Yes, I already have Netflix: 39%
- No, I don’t have Netflix and won’t watch: 30%
- No, even though I have Netflix: 30%
- Yes, I plan to subscribe to Netflix to watch: 1%
The largest percentage of readers said they are subscribers and will be watching, getting 39% of the vote. Thirty percent of Netflix subscribers said they won’t be watching despite being able to watch the games for free with their current subscription. Thirty percent also said they do not have Netflix and won’t subscribe just to gain access to the NFL games.
In total, the poll found that 60% of readers don’t plan on watching the NFL games on Christmas Day.
Read Also: Streamers Max, Paramount+ Won November: Here’s Why Analyst Expects Netflix, Amazon To Win December
Why It’s Important: Netflix saw huge demand for the Paul vs. Tyson fight with more than 60 million households tuning in. Netflix co-CEO Ted Sarandos recently said the company may have left money on the table for advertising during the boxing match.
“If we knew the audience would be that big, we probably would have done a lot more selling on that fight,” Sarandos said.
While the NFL games might not have as big of an audience as the boxing match, the fact that the Kansas City Chiefs play in one game and Beyoncé is performing at halftime in the other could increase the audience compared to normal NFL games.
NFL viewership has been strong during the 2024 season and the Chiefs are one of the most popular teams in America based on viewership figures.
Netflix could win with a potential boost to overall subscriber figures with the exclusive rights to the games, while also gaining important revenue from its ad-supported members.
Oppenheimer analyst Jason Helfstein, who has an Outperform rating, raised the Netflix price target from $825 to $1,065 ahead of the NFL games.
The analyst believes each NFL Christmas Day game could bring in $75 million in advertising revenue for a total of $150 million. The $150 million from advertising would be equal to the reported $150 million Netflix is paying for the rights, making the games a “free acquisition tool,” according to Helfstein.
The analyst estimates Netflix has a $2.2 billion advertising opportunity annually for live events based on $223 million per live event and 10 events per year in the future.
“Therefore, on top of a strong subscriber acquisition tool, live event advertising could also become meaningfully incremental to NFLX,” Helfstein noted.
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The study was conducted by Benzinga from Dec. 18 through Dec. 19, 2024, and included the responses of a diverse population of adults 18 or older. Opting into the survey was completely voluntary, with no incentives offered to potential respondents. The study reflects results from 159 adults.
New On The Block
Honeywell (NASDAQ:HON) is back at it again with big plans and boardroom brainstorms. This time, the Charlotte, North Carolina-based company is considering sending its aerospace business off to fly solo. Recently, Honeywell unveiled plans to spin off its Advanced Materials business into a standalone public company by late 2025 or early 2026. Additionally, the company is selling its Personal Protective Equipment (PPE) business to Protective Industrial Products for $1.325 billion in cash.
Textron Inc. (NYSE:TXT) has decided it’s time to hit the brakes on its Powersports product line, part of the Industrial segment’s Textron Specialized Vehicles business. The segment manufactures snowmobiles and off-road vehicles under the Arctic Cat label. Deere & Co (NYSE:DE) is rumored to be interested in acquiring it. Textron expects to wrap up its restructuring in the first half of the new year.
DLocal, a Latin American payments provider with a market value of about $3.6 billion, is on the auction block. The Montevideo, Uruguay-based company hired Morgan Stanley to gauge takeover offers from bidders. Private equity firm General Atlantic is DLocal’s largest shareholder.
Updates From The Block
The European Commission granted unconditional approval for Nvidia Corp (NASDAQ:NVDA) to acquire Run:ai Labs Ltd, an Israel-based provider of GPU orchestration software. The decision under the EU Merger Regulation concluded the acquisition would not raise competition concerns within the European Economic Area. Nvidia aims to integrate Run: ai’s software into its ecosystem. Run:ai specializes in software that helps organizations optimize and manage their artificial intelligence compute workloads across various environments, including on-premises and cloud platforms.
Soho House‘s billionaire chairman Ron Burkle wants to whisk the private members’ club away from the U.S. stock market. Burkle and his squad of investors have thrown down a flashy $1.8 billion buyout bid, offering $9 per share—a snazzy 83% premium to the stock’s closing price on Wednesday, Dec. 18. This isn’t Soho House’s first flirtation with delisting. Just a few months ago, it turned down a mysterious suitor’s offer.
See Also: Novo Nordisk Rises 5% In Premarket As Analyst Dismisses Friday’s 17% Plunge As Market Overreaction
Off The Block
Chevron Corporation (NYSE:CVX) and Woodside Energy Group Limited (NYSE:WDS) finalized an asset swap deal on Wednesday. As part of the agreement, Woodside will transfer its 13% non-operated interest in the Wheatstone Project and its 65% operated interest in the Julimar-Brunello Project in Western Australia. In return, Woodside will acquire Chevron’s 16.67% stakes in the North West Shelf Project and the NWS Oil Project, along with a 20% interest in the Angel Carbon Capture and Storage Project. Additionally, Chevron will make a cash payment to Woodside of up to $400 million. This includes a $300 million payment at completion, and contingency payments of up to $100 million, tied to the handover of the Julimar Phase 3 Project and subsequent production performance.
Bankruptcy Block
Furnishing and retailer Big Lots Inc.‘s Chapter 11 bankruptcy filing in September and impending store closures could benefit rival Ollie’s Bargain Outlet Holdings Inc (NASDAQ:OLLI), JPMorgan analyst Matthew R. Boss says. On Sept. 9, Big Lots filed for Chapter 11 and announced a subsequent sale of its assets to Nexus Capital Management LP. The company’s stock was subsequently delisted from the New York Stock Exchange. Its third-quarter financial report revealed a company struggling with declining sales, eroding margins and a continual bleeding of cash. On Dec. 19, the Columbus, Ohio-based company said its sale to Nexus Capital fell through, noting it “continues to work toward completing an alternative going concern transaction with Nexus or another party.” CEO Bruce Thorn announced a going-out-of-business sale.
FTX announced that its Chapter 11 bankruptcy reorganization plan will become effective on Jan. 3, 2025. Customer and creditor distributions will be facilitated through partnerships with cryptocurrency platforms Kraken and BitGo. The first round of distributions is expected to occur within 60 days of the plan’s effective date. The initial distribution will cover holders of allowed claims in the Convenience Classes, while timelines for other claim classes will be announced later.
Notes From The Block
Benzinga recently interviewed Tony Roma’s CEO Mohaimina (Mina) Haque on a variety of topics, including the restaurant chain’s capital raising initiatives:
BZ: What’s the global stage look like?
There’s a lot of interest globally. We are in Dubai and Berlin as well as Kuala Lumpur, Malaysia and Perth, Australia. There is a lot of brand awareness. Stateside, as Gen Z and millennials were growing up, there was a decrease in unit size. So, we are working on building that bridge between those who are nostalgic for Tony Roma’s and those who haven’t experienced it yet. There are challenges, including the supply chain and ensuring that franchise partners uphold our intellectual property.
BZ: Is M&A still on the cards?
It is a possibility. We have parties interested in helping us to expand our global and national footprint. So, it’s still in the cards, with either a venture capital or private equity firm. For anyone interested and who wants to see more explosive growth for the company, we are looking for partners capable of heavy capital infusion.
BZ: What size investment do you think would you go to ballpark it?
If I have to ballpark it, maybe somewhere between $10 million and $20 million
For the full Q&A, click here.
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On Monday, La Rosa Holdings Corp (NASDAQ: LRHC) announced it will offer Bitcoin (CRYPTO: BTC/USD) and other cryptocurrencies as a payment option for its network of agents.
This initiative allows agents to receive certain payments in digital assets, marking a progressive step toward integrating blockchain technology into real estate transactions.
The plan addresses the growing demand for alternative payment methods among agents and clients.
Also Read: Taiwan Semiconductor Expands in Japan: Sony and Denso Among First Customers
CTO Alex Santos noted that cryptocurrency payments are a natural evolution in the company’s commitment to innovation and broker empowerment. S
antos flagged how blockchain technology offers the potential to streamline transactions while delivering unmatched flexibility in how agents and clients engage in the real estate market.
CEO Joe La Rosa expects the step to enable agents to receive their commissions in cryptocurrency. Rosa noted cryptocurrency payments offer faster, more secure transactions with lower fees while providing the potential for income growth through the value appreciation of digital assets.
Additionally, this initiative could create a new revenue stream for La Rosa, with the company implementing a 2% fee for agents who receive cryptocurrency payments.
Price Action: LRHC stock closed higher by 18.7% at $0.8072 on Friday.
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On Monday, Telomir Pharmaceuticals, Inc. (NASDAQ:TELO) announced preclinical findings highlighting the copper-binding potential of its lead compound, Telomir-1, as a promising treatment for Wilson’s disease and related disorders. The compound exhibits a binding affinity for copper ions, enabling precise regulation of copper metabolism and interacting with essential ions such as copper, iron, and zinc, the company said.
Recent preclinical studies by Recipharm and Smart Assays reveal Telomir-1’s strong copper-binding affinity, enabling precise regulation of copper metabolism and interaction with essential ions.
According to the company, these findings position Telomir-1 as a potential breakthrough therapy for Wilson’s disease, a rare disorder caused by ATP7B mutations leading to toxic copper buildup in vital organs.
Offering a safer alternative to current treatments, which have significant side effects and require lifelong adherence, Telomir-1 targets the disease’s root cause and may qualify for orphan drug designation.
Telomir is also advancing Telomir-1’s therapeutic potential in related areas, including Type 2 diabetes and age-related diseases.
The company is optimizing GMP-grade production for IND-enabling studies scheduled for second quarter of 2025, with an IND submission planned for the fourth quarter and first-in-human clinical trials expected by mid-2026. Efforts also include securing an INAD for pets and exploring Telomir-1’s dual applications in human and veterinary medicine.
In line with its ethical practices, Telomir discontinued its osteoarthritis study in dogs after the safety phase due to concerns over inducing the condition. The company is now collaborating with a veterinary institution to design a study using elderly dogs naturally affected by osteoarthritis, advancing its INAD application for pets.
“As we look to 2025, Telomir remains dedicated to its mission,” said Erez Aminov, Chairman and CEO. “We are pleased to have secured additional financing at a 20% premium with no warrants, providing the resources needed to continue advancing Telomir-1’s development while creating value for our shareholders.”
Price Action: TELO shares closed 14.10% higher at $5.18 on Friday.
Eric Trump, executive vice president of the Trump Organization and son of President-elect Donald Trump, recently shared his views on tariffs, inflation and Federal Reserve policy.
Speaking exclusively with Benzinga‘s Bibhu Pattnaik, Eric Trump outlined his father’s plans to address economic challenges, including energy costs, government spending, and international trade policies.
On tariffs, Eric Trump dismissed concerns about their potential to drive inflation. “What’s going to drive inflation decreasing is frankly freeing up energy,” he explained, adding that energy costs account for a significant portion of inflation.
He expressed confidence that his father’s policies, focused on increased domestic drilling and utilization of natural resources, would lower energy prices. Combined with proposed government spending cuts of $1 trillion in the first year or two.
“Energy makes up about 60% of inflation. And energy is going to come down in a very big way. Because my father wants a drill. He wants to utilize natural resources. And you won’t have a war on energy. Then second of all, you’re going to look at DOGE. And they’re going to cut a trillion dollars out of spending in the first year or two. Which has to happen. And when you look at the cuts in spending and when you look at, you know, obviously oil and gas coming down, that’s going to drive inflation way down. That’s going to drive interest rates down,” Eric Trump told Benzinga.
Eric Trump argued these measures would bring down inflation, reduce interest rates, and make financing homes, businesses, and even crypto investments more affordable.
“That’s going to free up a lot of capital that could otherwise be used. It’s going to make buying a new home more affordable. That’s going to be financing businesses more affordable. That’s going to make borrowing so you can purchase crypto more affordable. I think there’s a lot of great things to come,” he added.
When asked about the Federal Reserve’s approach to balancing inflation and recession risks, Eric Trump declined to offer specifics. However, he touched on his father’s broader leadership strategy, emphasizing his firm stance on international conflicts and economic policies.
“He’s put a lot of people on notice… to stop playing games,” Eric Trump said, referencing efforts to resolve global conflicts and hold foreign powers accountable for trade imbalances.
Eric Trump praised his father’s commitment to protecting U.S. interests through tariffs and strong foreign policy. He highlighted moves like signaling disengagement from prolonged Middle Eastern conflicts and pushing back against unfair practices by China and NATO.
“He’s going to stop getting ripped off by foreign powers,” he said, underscoring his father’s approach to fostering peace, stability, and economic strength.
As the Trump administration prepares to take office, these statements offer a glimpse into its potential economic priorities, signaling a focus on energy independence, fiscal responsibility, and assertive international policies.
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Image: Shutterstock
Each week, Benzinga’s Stock Whisper Index uses a combination of proprietary data and pattern recognition to showcase five stocks that are just under the surface and deserve attention.
Investors are constantly on the hunt for undervalued, under-followed and emerging stocks. With countless methods available to retail traders, the challenge often lies in sifting through the abundance of information to uncover new opportunities and understand why certain stocks should be of interest.
Here’s a look at the Benzinga Stock Whisper Index for the week ending Dec. 20:
D-Wave Quantum (NYSE:QBTS): The company was one of several quantum computing stocks that continued to see strong interest from readers during the week. The stocks traded higher on the week after news from Google that its Willow quantum chip made a breakthrough in quantum computing. The breakthrough of Willow has investors looking for quantum computing companies that could benefit as more eyes are on the sector heading into 2025. Analysts are taking notice as well with Craig Hallum maintaining a Buy rating and raising the price target from $2.50 to $9, Benchmark maintaining a Buy rating and raising the price target from $3 to $8 and Roth MKM maintaining a Buy rating and raising the price target from $3 to $7.
The stock was up significantly over the last five days, as shown on the Benzinga Pro chart below. The stock is up over 800% year-to-date in 2024.
Quantum Computing (NASDAQ:QUBT): Similar to D-Wave, Quantum Computing is one of the handful of stocks seeing increasingly more attention from readers thanks to soaring interest in the quantum computing space. The company recently announced a prime contract from NASA for imaging and data processing support that will use the company’s Dirac-3 entropy quantum optimization machine. Quantum Computing said the contract could lead to additional deals if successful. The company has also announced a share offering to strengthen its financial position.
The stock was up significantly over the past week. Shares are up over 1,800% year-to-date in 2024.
SoundHound AI (NASDAQ:SOUN): The voice AI company returns to the Stock Whisper Index for a second time in December. The company recently highlighted its awards and recognition it has received in the conversational AI market. A partnership with Church’s Texas Chicken for voice AI drive-thru ordering solutions has also put the company into the spotlight as it continues to help restaurants reduce wait times, streamline operations and improve costs with its AI offerings. When SoundHound last appeared in the Stock Whisper Index, the company’s AI Smart Ordering system was highlighted. The company’s AI-powered restaurant solutions are in use at more than 10,000 locations around the world, with the technology helping with phone, kiosk, drive-thru and headset ordering systems. The company also recently said its Amelia conversational AI agent has handled over 100,000 customer calls in 2024, helping with operational efficiency for customers. The stock has also been mentioned as a potential short squeeze with 13.6% of the float short according to Benzinga Pro data.
Hear more about SoundHound from the company’s CEO Mike Zagorsek in an exclusive interview with Benzinga here.
MercadoLibre Inc (NASDAQ:MELI): The Latin American e-commerce company saw strong interest from readers without any major news from the company. The stock may have fallen on concerns of Brazilian stocks due to lower valuations for its currency. The 2024 election and questions about international relations may also have sent shares of Latin American stocks lower in recent weeks. MercadoLibre reported third-quarter financial results in November with earnings per share missing analyst estimates and revenue beating analyst estimates for an eighth straight quarter. Several analysts maintained bullish ratings on the stock, but lowered price targets after the recent financial results.
Burlington Stores (NYSE:BURL): The discount apparel retailer saw increased interest from readers during the week, which comes after third-quarter financial results were reported in late November. The company saw revenue up 11% year-over-year in the quarter, but the revenue figure missed analyst estimates. The company cited warmer weather as a reason for comparable sales being lower than expected. Management was optimistic that the fourth quarter would see strong growth. The majority of analysts raised their price targets on the stock after the quarterly financial report.
Stay tuned for next week’s report, and follow Benzinga Pro for all the latest headlines and top market-moving stories here.
Read the latest Stock Whisper Index reports here:
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After SoundHound AI’s (NASDAQ:SOUN) breakthrough in 2024, Benzinga caught up with CEO Keyvan Mohajer to discuss the company’s success, artificial intelligence and plans for the future.
Benzinga: SoundHound is closing the year in the headlines after being a relatively overlooked company at the beginning of the year. What was the key moment when the market started giving you credit for all the hard work?
Mohajer: What I constantly tell my team is that we have to do a thousand things right. A subset of those will eventually bring the attention that we deserve, but when that moment comes, everything we’ve done right up until then matters.
The key moment I’d highlight is the shift among our customers and the industry as a whole. For most businesses now, AI adoption is no longer an exploration within their innovation budgets — it’s a mandate.
In that context, SoundHound is in a prime position. Our ability to combine proprietary voice AI technology with sophisticated large language models has allowed us to deliver immense value. In addition, our three-pillar business strategy gives us a unique advantage, enabling us to create a flywheel effect and shape the voice commerce ecosystem of the future.
Benzinga: You have a “three pillars of revenue” business model. After a year of revenue growth, can you summarize how these pillars synchronize and where the next growth could come from?
Mohajer: Our pillar one revenue comes from building AI voice assistants for products, like vehicles, TVs, and smart devices, and our pillar two revenue comes from creating voice AI service agents that businesses can deploy with their customers and employees.
While these two pillars can succeed independently, we do see a big opportunity to bring them together to create a voice AI ecosystem in a way that generates new revenue streams for device manufacturers, and new leads for customer-centered businesses. This will become our third pillar.
To be more specific, users already speak to their car’s AI Assistant, which we power, and they already order food by speaking to the AI agent of a restaurant that we also power. With pillar three, you don’t need to go to the drive-through and wait in line. You can speak to your car and place your order in advance. Your car’s AI agent will speak to the restaurant’s AI agent to get your task done.
At CES, SoundHound will demonstrate this concept, called the “voice commerce ecosystem,” which will ultimately allow people to seamlessly conduct transactions — from ordering food to making appointments or booking tickets — via AI agents directly from cars or TVs just by speaking naturally.
We see AI agents as a huge opportunity, with networks of them communicating with each other to deliver information, process transactions, and improve the lives of both consumers and human employees.
Benzinga: In 2024, you fortified the company’s portfolio with the acquisitions of Amelia and Allset. What challenges have you encountered in those efforts?
Mohajer: We’re extremely fortunate to find businesses that had incredible synergies with what we were already doing. Each has helped us expand our reach into new and exciting markets. Integrating new teams and company cultures, realizing cost and revenue synergies, and bringing the best out of each other is a challenge we don’t take lightly. But for the most part, we are very pleased with our acquisitions.
We are now in an impressive range of vertical industries, including highly regulated spaces like health care and financial services, where our technology is deployed with seven of the top 10 global institutions.
Benzinga: Your market cap skyrocketed, but so did your market cap to net cash ratio. Meanwhile, your critics often discuss cash burn and stock-based compensation. What are your expectations for the firm’s finances in 2025?
Mohajer: We have a strong cash position and constantly calibrate a healthy balance of investing in growth and pursuing profitability. In the third quarter, we reported a revenue increase of 89% year-over-year, and we expect this year’s revenue will be in the range of $82-85 million. Next year is looking like $155-$175 million in revenue, and we’ve also predicted that we’ll be adjusted EBITDA positive by the end of next year.
Benzinga: Considering your success with Stellantis (NYSE:STLA), the automotive industry seems like a natural home for SoundHound’s technology. With autonomous vehicles on the horizon and companies like Waymo expanding domestically, is the arrival of your technology into these segments inevitable?
Mohajer: We’re proud of the progress we’ve made with automotive. In addition to rolling out the most sophisticated in-vehicle voice assistant on the market across a broad range of Stellantis brands, we also work with leading global automakers like Hyundai and Kia, and we’re making gains in the growing EV space, with four exciting brands signed up to use our conversational AI.
In terms of our technology, we see endless opportunities within automotive — including deploying our technology as part of the move to autonomous vehicles.
Benzinga: At a $7.5 billion in market cap, SoundHound is in an excellent position to continue rising in 2025. What could we expect in terms of organic growth vs. acquisitions?
Mohajer: We have been experiencing organic growth exceeding 50% for the last several years, driven by increasing commercial traction of our solutions. With the immense opportunities created by generative AI and the accelerating pace of our end markets, we expanded our approach this year to include M&A. This shift has contributed to our momentum, reflected in our last quarter’s growth rate of 89%.
We believe programmatic M&A is important, particularly in rapidly transforming industries. That said, we will continue to invest organically across all pillars of our business because the breakthrough opportunities are tremendous.
When acquisition opportunities arise that (1) align with and amplify our strategy, (2) help us move from point A to point B faster or more efficiently, (3) can be effectively operationalized, and (4) come at an attractive price, we won’t hesitate to take action.
Benzinga: Is there anything else you want to tell our readers?
Mohajer: We’re lucky to have had some great champions, investors, partners and customers out there who have really believed in SoundHound AI and our vision. Today, our technology powers hundreds of global enterprise brands, thousands of restaurant and retail locations, and millions of vehicles and devices — and we’re just getting started.
SOUN Price Watch: Shares of SoundHound AI were trading 13.2% higher at $21.34 ahead of the close Friday. The stock is up 882% year-to-date.
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Photo: Shutterstock
Benzinga readers pick which Magnificent 7 stock could have the best performance if there is a Santa Claus rally to close 2024 and kickstart 2025.
What Happened: The majority of the Magnificent 7 stocks have outperformed the S&P 500 year-to-date in 2024. With a limited number of trading days left to close out the year, one last question on the mind of investors is whether there will be a Santa Claus rally.
The term “Santa Claus rally” was first used by Yale Hirsch in 1972 in the Stock Trader’s Almanac. The term is associated with the last five trading days of a year and the first two days of the following year.
Check This Out: Santa Claus Rally In 2024? Poll Shows Investors Split On End Of Year Returns, 57% Say This…
Combine the Santa Claus rally potential and the Magnificent 7 outperformance in 2024, and you have the latest Benzinga poll.
“Which Magnificent 7 stock will do the best if there’s a Santa Rally?” Benzinga asked.
The results were:
- NVIDIA Corporation (NASDAQ:NVDA): 28%
- Tesla Inc (NASDAQ:TSLA): 25%
- Amazon.com Inc (NASDAQ:AMZN): 17%
- Alphabet Inc (NASDAQ:GOOG)(NASDAQ:GOOGL): 9%
- Apple Inc (NASDAQ:AAPL): 9%
- Meta Platforms (NASDAQ:META): 7%
- Microsoft Corporation (NASDAQ:MSFT): 5%
Nvidia was the winner of the poll with more than one-fourth of the vote, which comes as the stock is the top performer among the Mag 7 stocks for year-to-date and five-year gains. Trailing Nvidia was Tesla, with exactly one-fourth of the vote.
Amazon also received a double-digit percentage ranking third at 17%. The other Mag 7 stocks had much smaller percentages in the poll.
Read Also: Which Magnificent 7 Stock Should DOJ Target Next? Benzinga Poll Finds Over 50% Say…
Why It’s Important: The expectation for a Santa Claus Rally comes with major stock market indexes enjoying a strong 2024 and could add to their year-to-date gains.
Here are the current year-to-date returns of three of the largest market index ETFs.
- SPDR S&P 500 ETF Trust (NYSE:SPY): +23.8%
- Invesco QQQ Trust (NASDAQ:QQQ): +28.1%
- SPDR Dow Jones Industrial Average ETF (NYSE:DIA): +12.7%
For comparison, here are the year-to-date returns of the Magnificent 7 stocks:
- Nvidia: +177.8%
- Tesla: +77.4%
- Meta Platforms: +72.9%
- Amazon: +49.8%
- Alphabet: +38.3%
- Apple: +35.8%
- Microsoft: +18.7%
Nvidia has significantly outperformed the S&P 500 and other major indexes and also the other Magnificent 7 stocks. The Benzinga poll shows that readers think Nvidia could go out on a high note in 2024 and kick 2025 off with a bang if there is a Santa Claus rally.
Only Microsoft trails the S&P 500 and Invesco QQQ Trust year-to-date returns in 2024, showing the strength of the Magnificent 7 stocks this year.
A recent Benzinga poll asked if any Magnificent 7 stocks could beat Nvidia for stock returns in 2025. The results were:
- None – Nvidia will dominate: 48%
- Tesla: 27%
- Amazon: 8%
- Meta: 7%
- Alphabet: 6%
- Microsoft: 3%
- Apple: 2%
The poll found the near-majority predicting Nvidia will have the strongest growth in 2025 and dominate the Magnificent 7 stocks once again.
Based on the recent polls, Benzinga readers don’t expect the gains for Nvidia to stop anytime soon and a Santa Claus rally could accelerate the company’s potential 2025 gains.
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The study was conducted by Benzinga from Dec. 18 through Dec. 19, 2024, and included the responses of a diverse population of adults 18 or older. Opting into the survey was completely voluntary, with no incentives offered to potential respondents. The study reflects results from 169 adults.
Image created using photos from Shutterstock.
With a limited number of trading days left to close out the 2024 year, one last question on the mind of investors is whether there will be a Santa Claus rally.
Here’s a look at what Benzinga readers said in a new poll.
What Happened: The term Santa Claus rally was first used by Yale Hirsch in 1972 in the Stock Trader’s Almanac.
The term is associated with the last five trading days of a year and the first two days of the following year and often see higher prices for numerous reasons.
This time of the year includes year-end portfolio rebalancing, holiday sales data and optimism for the new year ahead, which can often lead to strong returns for major stock market indexes.
“Do you think there will be a Santa Rally this year,” Benzinga recently asked readers.
The results were:
- Yes, I expect a rally: 57%
- No, I don’t think so: 43%
The poll was fairly evenly split with the majority saying they expect a Santa Claus rally to end 2024 and kick-start 2025.
Why It’s Important: The expectation for a Santa Claus rally comes with major stock market indexes enjoying a strong 2024 and could add to their year-to-date gains.
Here are the current year-to-date returns of three of the largest market index ETFs.
- SPDR S&P 500 ETF Trust (NYSE:SPY): +23.8%
- Invesco QQQ Trust (NASDAQ:QQQ): +28.1%
- SPDR Dow Jones Industrial Average ETF (NYSE:DIA): +12.7%
Data from the Stock Trader’s Almanac found that from 1950 through 2022 a Santa Claus rally occurred 58 times, or 79.4% of the time. The average gain in the S&P 500 during the Santa Clause rally those years was 1.4%.
Benzinga recently shared that data from LPL Financial showed that December is the second-best month for S&P 500 returns since 1950, with an average return of 1.6%. December trails only November since 1950, with an average S&P 500 return of 1.8%. The strong December returns are often weighted to the second half of the month.
While many people will get presents to celebrate the Christmas holiday, investors could get the gift of higher stock prices based on historical returns and the Benzinga reader poll.
Read Next:
The study was conducted by Benzinga from Dec. 18 through Dec. 19, 2024, and included the responses of a diverse population of adults 18 or older. Opting into the survey was completely voluntary, with no incentives offered to potential respondents. The study reflects results from 241 adults.
Photo: Shutterstock