Latest news for Ai Technology Gr (OTC:AIPG) Stock

Ai Technology Group Inc is a shell company.

AI TECHNOLOGY GROUP INC by AI TECHNOLOGY GROUP INC.

Ai Technology Group Inc

Electric vehicle sales are expected to outperform combustion engine vehicle sales in China in 2025, outrunning the pace of EV adoption in the U.S. and Europe.
What Happened: Beijing had set a target in 2020 for EVs to account for 50% of car sales by 2035. However, as <a href="https://www.ft.com/content/0ebdd69f-68ea-40f2-981b-c583fb1478ef">per</a> Financial Times, the target would be reached next year, ten years ahead of schedule.
As per the report, EV sales in China, including battery electric vehicles and plug-in hybrids (together referred to as new energy vehicles or NEVs), will rise by 20% year-on-year to over 12 million cars next year.
Combustion engine vehicle sales, meanwhile, will fall by over 10% to less than 11 million, the report said, citing estimates by investment banks UBS and HSBC and research groups Morningstar and Wood Mackenzie.
This marks a stark contrast to the situation in Europe and the U.S. where EV demand is slowing down. 
Why It Matters: China is the world&#8217;s biggest car market and also Tesla Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) <a href="https://www.benzinga.com/24/12/42308566/tesla-researcher-sees-drop-in-sales-in-europe-us-bring-down-global-deliveries-in-2024-despite-rise-in-china">second biggest market after the U.S. </a>Major EV players in China will likely benefit from the rise in demand next year including BYD Co. Ltd. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDY#OTC">BYDDY</a>), Geely Automobile Holdings (OTC:<a class="ticker" href="https://www.benzinga.com/stock/GELYY#OTC">GELYY</a>), Tesla, Li Auto Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LI#NASDAQ">LI</a>), and others.
BYD, for instance, held 34.5% of China&#8217;s new energy market in the January-November period. Geely seconded BYD with an 8% market share and Tesla held the third position with a 6% market share.
According to data from the China Passenger Car Association, BYD sold 417,232 new energy passenger vehicles in China in November on retail. Tesla and Geely sold 73,490 and 120,896 new energy vehicles, respectively, in the period. 
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>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/tech/24/12/42668333/tesla-model-x-lucid-gravity-or-rivian-r1s-which-three-row-electric-suv-is-a-better-buy" target="_blank" rel="noreferrer noopener">Tesla Model X, Lucid Gravity Or Rivian R1S: Which Three-Row Electric SUV Is A Better Buy?</a></li>
</ul>
Photo courtesy: Tesla

News

Global

Tech

BYDDY

GELYY

TSLA

China's EV Industry Likely To Outpace US And Allies, But Elon Musk's Tesla Could Still Make Gains

Billionaire entrepreneur and popular television personality Mark Cuban is a well-known Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) bull.
Over the years, the "Shark Tank" investor has used social media to voice favorable opinions about the meme cryptocurrency
What happened: In one such conversation on X back in Jan. 2022, Cuban argued that DOGE had greater transactional utility than Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), the world's largest cryptocurrency.
"If you think you should HODL BTC because it is the future, why would you ever spend it," Cuban remarked in response to arguments about Bitcoin&#8217;s advantages in conducting fast and secure transactions.
<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">If you think you should hodl BTC because it is the future, why would you ever spend it? With DOGE, you are buying into a community that is fun. If it goes up in value, there are lots of places to spend it and it&#39;s like getting a discount. It&#39;s a non perishable lottery ticket
&mdash; Mark Cuban (@mcuban) <a href="https://twitter.com/mcuban/status/1480774546047311873?ref_src=twsrc%5Etfw">January 11, 2022</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
"With DOGE, you are buying into a community that is fun. If it goes up in value, there are lots of places to spend it and it&#8217;s like getting a discount," the celebrity investor stated.&nbsp;
He also called DOGE a "non-perishable lottery ticket," emphasizing the speculative but utility aspect of the popular meme coin.
Meanwhile, data indicated Bitcoin&#8217;s popularity as a transaction medium. In November, Bitcoin had a nearly <a href="https://www.bitpay.com/stats" target="_blank" rel="noreferrer noopener">28% share</a> in total transactions recorded on the platform, compared to just 5.52% for DOGE,  according to the world's largest crypto payment service provider, BitPay.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42665539/north-korean-hackers-suspected-presence-triggers-over-500-million-in-outflows-from-crypto-exchange">North Korean Hackers&#8217; Suspected Presence Triggers Over $500 Million In Outflows From Crypto Exchange</a>
When Cuban voiced this opinion, one unit of DOGE was priced at $0.153689. So, if you got swayed by his words and invested $1,000, it would have fetched you 6506.64 units of the cryptocurrency.
Today, one DOGE is worth $0.3247. This means that your stash would be worth $2112.70 at current market prices, marking a return of 111%.
Why It Matters: Unlike many top voices, Cuban has put his money where his mouth is.
During his tenure as the principal owner of the professional basketball team Dallas Mavericks, he<a href="https://www.benzinga.com/markets/cryptocurrency/24/01/36835819/mark-cubans-crypto-ama-dallas-mavericks-say-yes-to-doge-printer-go-brrr-his-crypto-holding"> started accepting Dogecoin as payment</a> for tickets and merchandise. In an<a href="https://www.benzinga.com/markets/cryptocurrency/24/01/36835819/mark-cubans-crypto-ama-dallas-mavericks-say-yes-to-doge-printer-go-brrr-his-crypto-holding"> AMA session in January</a>, Cuban confirmed that the Mavs still accept the meme coin.
As of this writing, he doesn&#8217;t hold any DOGE in his cryptocurrency portfolio, according to <a href="https://platform.arkhamintelligence.com/explorer/entity/mark-cuban">data</a> from on-chain analytics firm Arkham Intelligence.
Apart from DOGE, Cuban <a href="https://www.benzinga.com/general/entertainment/24/12/42545829/mark-cuban-expresses-sympathy-for-hawk-tuah-girl-amid-meme-coin-controversy-wasnt-something-she-fully-understood">doesn't support investments</a> in meme coins, describing them as a "game of musical chairs with money."
Price Action: At the time of writing, DOGE was exchanging hands at $0.3247, down 2.08% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>.
Shares of MicroStrategy plummeted 8.78% to $332.23 during Monday&#8217;s regular session but were up 1.35% in pre-market trading.
The stock has a consensus price target of $449.5 based on the ratings of 12 analysts, with an average price target of $546.67 between Bernstein, TD Cowen, and Barclays.
Image via Flickr
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/trading-ideas/movers/24/12/42665334/will-dogecoin-hit-the-widely-anticipated-1-target-in-q1-2025-probably-not-but-musk-led-doge-could-hold-the-key">Dogecoin &#8216;Parabolic Rally&#8217; In 2025 Foreseen By Popular Analyst If &#8216;History Repeats&#8217; Just Like In 2017, 2021</a></li>
</ul>

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

Cryptocurrency

Markets

$BTC

$DOGE

Mark Cuban Once Preferred Dogecoin Over Bitcoin For Settling Transactions: Here's How Much You'd Have Today If You Put $1000 In The Memecoin When He Made That Remark

NIO Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NIO#NYSE">NIO</a>) on Thursday announced that holders of its 0.50% Convertible Senior Notes due 2027 have the right to require the company to repurchase their Notes, <a target="_blank" href="https://www.benzinga.com/pressreleases/24/12/g42680925/nio-inc-announces-repurchase-right-notification-for-0-50-convertible-senior-notes-due-2027" rel="noreferrer noopener">or any portion thereof, on February 1, 2025.</a>
As of December 25, there was $378.525 million in aggregate principal amount of the Notes outstanding. If all Notes are repurchased, the total cash payment would amount to $378.525 million.
The Repurchase Right is available from 9:00 a.m. on December 30, 2024, until 5:00 p.m. on January 30, 2025.
The repurchase price will be equal to 100% of the principal amount of the Notes to be repurchased, plus any accrued and unpaid interest up to, but excluding, the Repurchase Date.
Also Read: <a target="_blank" href="https://www.benzinga.com/24/12/42679707/bitcoin-ethereum-gain-dogecoin-slips-as-sentiment-turns-positive-on-christmas-analyst-throws-reality-check-for-overexcited-participants" rel="noreferrer noopener">Bitcoin, Ethereum Rise, Dogecoin Slides Amid Positive Christmas Sentiment: Analyst Cautions $110K Target For BTC Possible Only When&#8230;</a>
As February 1, 2025, falls on a Saturday, the repurchase will occur on the next business day, February 3, 2025
The company will file a Tender Offer Statement with the SEC, and the terms and conditions for exercising the Repurchase Right will be made available through the Depository Trust Company and the paying agent, The Deutsche Bank Trust Company Americas.
According to&nbsp;<a target="_blank" href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw" rel="noreferrer noopener">Benzinga Pro</a>, NIO stock has lost over 51% in the past year. Investors can gain exposure to the stock via&nbsp;KraneShares Electric Vehicles and Future Mobility Index ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KARS#NYSE">KARS</a>).
In other news, NIO's sub-brand Firefly is generating significant attention in China. The Firefly mobile app reached over 100,000 user registrations within 72 hours of launching,<a target="_blank" href="https://www.benzinga.com/tech/24/12/42681165/nios-onvo-brand-helps-spur-delivery-growth-with-cheaper-offering" rel="noreferrer noopener"> marking a strong start</a>. However, the user base predominantly consists of individuals who are not part of NIO or its other sub-brand Onvo, suggesting that Firefly is expanding its appeal beyond existing NIO customers, <a target="_blank" href="https://cnevpost.com/2024/12/25/firefly-app-6-figure-user-registrations-72-hours/" rel="noreferrer noopener">reports</a> CnEV Post. This growth could help the company broaden its customer base in the future.
Price Action: NIO shares are trading higher by 0.22% premarket at $4.64 last check Thursday.
Read Next:&nbsp;&nbsp;&nbsp;&nbsp;
<ul>
<li><a href="https://www.benzinga.com/24/12/42677932/russian-firms-adopt-bitcoin-for-global-trade-in-response-to-western-sanctions-should-be-expanded-and-developed-further" target="_blank" rel="noreferrer noopener">Russian Firms Adopt Bitcoin For Global Trade In Response To Western Sanctions: ‘Should Be Expanded And Developed Further'</a></li>
</ul>
Photo by Sundry Photography on Shutterstock.

Equities

Movers

Media

General

KARS

NIO Announces Repurchase Opportunity For Convertible Senior Notes Due 2027; Firefly App Gains Traction In China

This solution is being designed to offer unparalleled security, traceability, and durability, and to set a new standard in electronic component protection.
SMX believes that its technology's ability to provide authentication will extend into the burgeoning market of wearable and flexible electronics. This growing sector includes applications such as smartwatches, fitness trackers, medical devices, health monitoring solutions and flexible displays.

SMX (Security Matters)  Reveals Integration Of Its Cutting-Edge Technology To Mark And Protect NFC And RFID Chips

ZCAR: 193% &#x7C; <a href="https://www.benzinga.com//node/42680931">Zoomcar Reports 43% Booking Surge, Revamps Website Ahead of Holiday Rush</a>
&nbsp;
ADD: 161% &#x7C; <a href="https://www.benzinga.com//node/42681122">Color Star Technology Says Shaikh Humaid Abdulla Rashed Ahmed Almualla, A Prominent Member Of The UAE Royal Family, Has Joined As An Independent Director</a>
&nbsp;
TCRX: 30% &#x7C; <a href="https://www.benzinga.com//node/42681408">TScan Therapeutics Enters Securities Purchase Agreement With Lynx1 Capital, Investment Fund Advised By Lynx1 For Sale Of $30M Of Pre-funded Warrants To Buy Up To Aggregate Of 7.50M Shares Of Voting Common Stock At $4.00 Per Pre-funded Warrant</a>

Trading Ideas

TCRX

ZCAR

Market-Moving News for December 26th

Beginning with the opening of trading on December 31, 2024, Optinose's common stock will trade on the Nasdaq Global Select Market on a split-adjusted basis under a new CUSIP number 68404V209 and Optinose's existing trading symbol "OPTN."
The reverse stock split is intended to enable Optinose to regain compliance with the $1.00 minimum closing bid price required for continued listing on Nasdaq.
 &nbsp;

Stock Split

OPTN

Optinose Plans To Effect 1-For-15 Reverse Stock Split At 5:00 P.M. Eastern Standard Time, On December 30, 2024

Walsh Service Solutions has placed an order for the CleanTech IR-3040 – a high-performance handheld fiber laser system designed by LPC for speedy surface decontamination.&nbsp;
Walsh Service Solutions, which provides business and construction support solutions, will utilize the CTIR-3040 in abatement and remediation of inland waterway infrastructure including canal locks.

Contracts

LASE

Laser Photonics Receives An Order From Walsh Service Solutions For One Of Its Flagship Handheld Laser Cleaning Systems

Offerings

TScan Therapeutics Enters Securities Purchase Agreement With Lynx1 Capital, Investment Fund Advised By Lynx1 For Sale Of $30M Of Pre-funded Warrants To Buy Up To Aggregate Of 7.50M Shares Of Voting Common Stock At $4.00 Per Pre-funded Warrant

The two companies plan to collaborate on the development and commercialization of Clearmind's proprietary MEAI-based alcohol substitute and Dr Glitter Pty Ltd's proprietary ActivCrystal&#x2122; technology. The term sheet outlines preliminary terms that, upon the mutual agreement of the parties, will be memorialized in a definitive agreement that sets forth a framework for advancing Clearmind and Dr Glitter Pty Ltd's groundbreaking innovations.

CMND

Clearmind Medicine Says Recently Signed A Non-binding Term Sheet With Dr Glitter Pty Ltd For Mutual Development In ActivCrystal Format

14 analysts have shared their evaluations of Progressive (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PGR#NYSE">PGR</a>) during the recent three months, expressing a mix of bullish and bearish perspectives.
In the table below, you'll find a summary of their recent ratings, revealing the shifting sentiments over the past 30 days and comparing them to the previous months.
<table>
<thead>
<tr>
<th></th>
<th align="right">Bullish</th>
<th align="right">Somewhat Bullish</th>
<th align="right">Indifferent</th>
<th align="right">Somewhat Bearish</th>
<th align="right">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td align="right">4</td>
<td align="right">8</td>
<td align="right">2</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td align="right">0</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td align="right">0</td>
<td align="right">3</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td align="right">1</td>
<td align="right">1</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td align="right">3</td>
<td align="right">3</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
</tbody>
</table>
Analysts' evaluations of 12-month price targets offer additional insights, showcasing an average target of $293.86, with a high estimate of $335.00 and a low estimate of $237.00. Observing a 4.35% increase, the current average has risen from the previous average price target of $281.62. 
<img src="https://www.benzinga.com/files/images/story/2024/1735214419_0.png" alt="price target chart" />
<h2>Decoding Analyst Ratings: A Detailed Look</h2>
A comprehensive examination of how financial experts perceive Progressive is derived from recent analyst actions. The following is a detailed summary of key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>C. Gregory Peters</td>
<td>Raymond James</td>
<td>Announces</td>
<td>Outperform</td>
<td>$305.00</td>
<td>-</td>
</tr>
<tr>
<td>Michael Zaremski</td>
<td>BMO Capital</td>
<td>Lowers</td>
<td>Outperform</td>
<td>$267.00</td>
<td>$273.00</td>
</tr>
<tr>
<td>Elyse Greenspan</td>
<td>Wells Fargo</td>
<td>Raises</td>
<td>Overweight</td>
<td>$302.00</td>
<td>$299.00</td>
</tr>
<tr>
<td>Bob Huang</td>
<td>Morgan Stanley</td>
<td>Maintains</td>
<td>Overweight</td>
<td>$310.00</td>
<td>$310.00</td>
</tr>
<tr>
<td>Joshua Shanker</td>
<td>B of A Securities</td>
<td>Raises</td>
<td>Buy</td>
<td>$335.00</td>
<td>$331.00</td>
</tr>
<tr>
<td>Andrew Kligerman</td>
<td>TD Cowen</td>
<td>Raises</td>
<td>Hold</td>
<td>$237.00</td>
<td>$197.00</td>
</tr>
<tr>
<td>David Motemaden</td>
<td>Evercore ISI Group</td>
<td>Raises</td>
<td>Outperform</td>
<td>$285.00</td>
<td>$277.00</td>
</tr>
<tr>
<td>Alex Scott</td>
<td>Barclays</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$277.00</td>
<td>$267.00</td>
</tr>
<tr>
<td>Bob Huang</td>
<td>Morgan Stanley</td>
<td>Raises</td>
<td>Overweight</td>
<td>$310.00</td>
<td>$300.00</td>
</tr>
<tr>
<td>Meyer Shields</td>
<td>Keefe, Bruyette &amp; Woods</td>
<td>Raises</td>
<td>Outperform</td>
<td>$290.00</td>
<td>$280.00</td>
</tr>
<tr>
<td>Joshua Shanker</td>
<td>B of A Securities</td>
<td>Raises</td>
<td>Buy</td>
<td>$331.00</td>
<td>$319.00</td>
</tr>
<tr>
<td>Jimmy Bhullar</td>
<td>JP Morgan</td>
<td>Raises</td>
<td>Overweight</td>
<td>$251.00</td>
<td>$242.00</td>
</tr>
<tr>
<td>Joshua Shanker</td>
<td>B of A Securities</td>
<td>Raises</td>
<td>Buy</td>
<td>$319.00</td>
<td>$309.00</td>
</tr>
<tr>
<td>Yaron Kinar</td>
<td>Jefferies</td>
<td>Raises</td>
<td>Buy</td>
<td>$295.00</td>
<td>$257.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts frequently update their recommendations based on evolving market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Progressive. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Analyzing trends, analysts offer qualitative evaluations, ranging from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Progressive compared to the broader market.</li>
<li>Price Targets: Delving into movements, analysts provide estimates for the future value of Progressive's stock. This analysis reveals shifts in analysts' expectations over time.</li>
</ul>
Understanding these analyst evaluations alongside key financial indicators can offer valuable insights into Progressive's market standing. Stay informed and make well-considered decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/PGR/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Progressive analyst ratings.</a>
<h2>Delving into Progressive's Background</h2>
Progressive underwrites private and commercial auto insurance and specialty lines; it has almost 20 million personal auto policies in force and is one of the largest auto insurers in the United States. Progressive markets its policies through independent insurance agencies in the US and Canada and directly via the internet and telephone. Its premiums are split roughly equally between the agent and the direct channel. The company also offers commercial auto policies and entered homeowners insurance through an acquisition in 2015.
<h3>Progressive: Delving into Financials</h3>
Market Capitalization Analysis: The company's market capitalization is above the industry average, indicating that it is relatively larger in size compared to peers. This may suggest a higher level of investor confidence and market recognition.
Revenue Growth: Progressive displayed positive results in 3 months. As of 30 September, 2024, the company achieved a solid revenue growth rate of approximately 26.74%. This indicates a notable increase in the company's top-line earnings. In comparison to its industry peers, the company stands out with a growth rate higher than the average among peers in the Financials sector.
Net Margin: Progressive's net margin is impressive, surpassing industry averages. With a net margin of 11.84%, the company demonstrates strong profitability and effective cost management.
Return on Equity (ROE): Progressive's ROE excels beyond industry benchmarks, reaching 9.24%. This signifies robust financial management and efficient use of shareholder equity capital.
Return on Assets (ROA): Progressive's ROA surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 2.3% ROA, the company effectively utilizes its assets for optimal returns.
Debt Management: Progressive's debt-to-equity ratio is below the industry average. With a ratio of 0.25, the company relies less on debt financing, maintaining a healthier balance between debt and equity, which can be viewed positively by investors.
<h2>The Basics of Analyst Ratings</h2>
Ratings come from analysts, or specialists within banking and financial systems that report for specific stocks or defined sectors (typically once per quarter for each stock). Analysts usually derive their information from company conference calls and meetings, financial statements, and conversations with important insiders to reach their decisions.
Some analysts also offer predictions for helpful metrics such as earnings, revenue, and growth estimates to provide further guidance as to what to do with certain tickers. It is important to keep in mind that while stock and sector analysts are specialists, they are also human and can only forecast their beliefs to traders.
Which Stocks Are Analysts Recommending Now?
Benzinga Edge gives you instant access to all major analyst upgrades, downgrades, and price targets. Sort by accuracy, upside potential, and more. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=be8be9arja3be22bz21&amp;utm_source=benzinga-insights">Click here to stay ahead of the market</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Analyst Ratings

Assessing Progressive: Insights From 14 Financial Analysts

U.S. stock futures declined on Thursday after a break for Christmas on Wednesday. All four index futures slipped in early trade.
The S&amp;P 500 index is on its way to registering a robust 20% plus return for the second consecutive year in 2024, as most analysts expect a Santa Rally.
The 10-year and two-year Treasury notes yielded 4.62% and 4.35%, respectively. The probability of having no change in the interest rates for the upcoming Jan. 31, 2025 decision was at 91.4%, according to CME Group&#8217;s FedWatch <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">tool</a>.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Change (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>-0.42%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>-0.43%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>-0.41%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>-0.43%</td>
</tr>
</tbody>
</table>
</figure>
In premarket trading on Thursday, the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) was down 0.49% to $598.36&nbsp; and the Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) fell 0.47% to $527.45, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.
Cues From The Last Session
Wall Street closed higher on Tuesday, kicking off the traditional <a href="https://www.benzinga.com/news/treasuries/24/12/42674886/santa-rally-kicks-off-on-wall-street-stocks-gain-tesla-soars-bitcoin-hits-98000">Santa Rally</a>. All major indices and sectors finished the shortened pre-Christmas trading session in the green.
The S&amp;P 500 climbed 1.1%, extending its winning streak to three consecutive days following the volatile Federal Reserve meeting last week. The Dow Jones Industrial Average rose 0.91%, while the tech-heavy Nasdaq 100 gained 1.37%, nearly recouping last week&#8217;s losses.
Consumer discretionary stocks, the top-performing sector this year, led the rally. Trading volumes were light but Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) surged 7.35%, its strongest single-day gain since November. Other notable performers in the S&amp;P 500 included Walmart Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>) up 2.5%, Starbucks Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NYSE">SBUX</a>) up 2.8%, and Netflix Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) up 2.27%. 
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/-)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>1.35%</td>
<td>20,031.13</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>1.10%</td>
<td>6,040.04</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>0.91%</td>
<td>43,297.03</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>1.00%</td>
<td>2,259.85</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts
Louis Navellier of Navellier &amp; Associates had said that Jerome Powell's hawkish stance did not inspire confidence. However, he believes that &#8220;A Santa Claus rally was subsequently sparked by the November PCE report, so the stock market is rallying into Christmas and should also rally into the New Year.&#8221;
&#8220;There is not a lot of economic news this week, but the good news is non-defense capital goods orders rose by 0.7% and have risen 2.1%, so there is a &#8216;green shoot&#8217; in the durable goods report. The Commerce Department reported that durable goods declined 1.1% in November due largely to a 12% decline in defense orders. Excluding transportation, durable goods orders declined by a more modest 0.1%,&#8221; he added.
According to Bespoke Investment Group &#8220;The S&amp;P has traded above its 200-DMA all year. This has happened 11 other times since 1952, and the next-year move has been about half the average. The last time this happened was in 2021, and before that, 2017.&#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">The S&amp;P has traded above its 200-DMA all year. This has happened 11 other times since 1952, and the next-year move has been about half the average. Last time this happened was in 2021, and before that, 2017. <a href="https://t.co/LBmXRZ4OSC">pic.twitter.com/LBmXRZ4OSC</a>
&mdash; Bespoke (@bespokeinvest) <a href="https://twitter.com/bespokeinvest/status/1871580687595454732?ref_src=twsrc%5Etfw">December 24, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
According to Wells Fargo, &#8220;The outlook for 2025 is riddled with uncertainty.&#8221; The note also added that &#8220;Ascertaining what level of policy restraint achieves the careful balance of keeping inflation in check and easing stress on interest-rate sensitive sectors will dominate the monetary policy discussion come 2025.&#8221;
See Also:&nbsp;<a href="https://www.benzinga.com/money/how-to-trade-futures">How To Trade Futures</a>
Upcoming Economic Data
A few important data points remain to be released in this truncated week that will help investors determine the future course of action.
<ul>
<li>On Thursday, initial jobless claims data till Dec. 21 will announced at 8:30 a.m. ET.</li>
</ul>
<ul>
<li>On Friday, November&#8217;s data for the advanced U.S. trade balance in goods, advanced retail inventories, and advanced wholesale inventories will be announced at 8:30 a.m., ET.</li>
</ul>
Stocks In Focus:
<ul>
<li>Color Star Technology Co Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADD#NASDAQ">ADD</a>) was up 103.70% in premarket after it announced that a prominent member of the UAE's royal family, has joined the company as an independent director.</li>
</ul>
<ul>
<li>Amplitech Group Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMPG#NASDAQ">AMPG</a>) was up 15.35% and has risen by 81.17% over the last five sessions after it entered into agreements with institutional investors for a registered direct offering, raising $3.1 million before fees and expenses.</li>
</ul>
<ul>
<li>Rigetti Computing, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RGTI#NASDAQ">RGTI</a>) was up 1.5% after the launch of its 84-qubit Ankaa-3 system, a quantum computer featuring an extensive hardware redesign that enables superior performance.</li>
</ul>
<ul>
<li>Zoomcar Holdings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZCAR#NASDAQ">ZCAR</a>) was up 102.09% after it reported a 43% year-on-year growth in bookings for November 2024, primarily driven by increased wedding season demand.</li>
</ul>
<ul>
<li>Hour Loop Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOUR#NASDAQ">HOUR</a>) was down 36.36%, Direct Digital Holdings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DRCT#NASDAQ">DRCT</a>) was down 31.27% and Baosheng Media Group Holdings Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BAOS#NASDAQ">BAOS</a>) was down 28.87%.</li>
</ul>
Commodities, Gold And Global Equity Markets:
Crude oil futures were higher in the early New York session by 0.61% to hover around $70.53 per barrel.
The gold spot index was up by 0.36% to $2,645.11 per ounce. The Dollar Index was down 0.09% to 108.155 level.
Most Asian Markets ended Thursday on a Mixed note.
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/12/42678014/top-7-blue-chip-stocks-with-the-best-return-potential-going-into-2025">S&amp;P 500 Hits 57 All-Time Highs In Record-Breaking 2024: Magnificent 7 Drive 30% Of Nasdaq&#8217;s Surge</a> 
Photo courtesy: Wikimedia

Futures

Economics

Federal Reserve

Pre-Market Outlook

ETFs

AMPG

BAOS

DRCT

HOUR

NFLX

RGTI

SBUX

US Stocks Likely To Open In Red After Christmas Break But Analysts Still Expect A Santa Rally Into The New Year

SciSparc has entered into an agreement and plan of merger with AutoMax. AutoMax announces $13 million first delivery of JAC vehicles following regulatory approval for direct importation.

SPRC

SciSparc Says AutoMax Received Its First Shipment Of Vehicles Manufactured By Anhui Jianghuai Automobile Group

On Tuesday, December 24th, U.S. markets closed higher in an abbreviated Christmas Eve session, driven by gains in megacap and growth stocks, marking a continued Santa Claus rally. The Dow and Nasdaq logged four-session gains, while Tesla&#8217;s surge boosted the consumer discretionary sector. Chipmakers like Broadcom and Arm Holdings also advanced despite elevated U.S. Treasury yields.
Every sector of the S&amp;P 500 ended in positive territory, led by notable gains in consumer discretionary, financial, and information technology stocks.
In economic data, the U.S. Redbook index rose 5.9% year-over-year last week, up from 4.8%. Meanwhile, the Fifth District composite manufacturing index improved to -10 in December from -14.
The Dow Jones Industrial Average was up 0.91% and closed at 43,297.03, the S&amp;P 500 closed higher by 1.10% at 6,040.00, and the Nasdaq Composite gained 1.35% to finish at 20,031.13.
Asia Markets Today
<ul>
<li>On Thursday, Japan&#8217;s Nikkei 225 gained 1.39% and ended the session at 39,578.00, led by gains in the Shipbuilding, Automobiles &amp; Parts, and Chemical, Petroleum &amp; Plastic sectors.</li>
<li>Australia markets closed for the Boxing Day holiday.</li>
<li>India&#8217;s Nifty 50 rose 0.16% to 22,438.20, and Nifty 500 was up 0.14%, closing at 23,761.95, led by gains in the Auto, Power, and Public Sector Undertakings sectors.</li>
<li>China&#8217;s Shanghai Composite rose 0.14% to close at 3,398.08, and the Shenzhen CSI 300 gained 0.05%, finishing the day at 3,987.48.</li>
<li>Hong Kong market closed for the first weekday after Christmas Day.</li>
</ul>
Eurozone at 06:00 AM ET
<ul>
<li>The European STOXX 50 closed for the Boxing Day holiday.</li>
<li>German markets closed for the Boxing Day holiday.</li>
<li>France&#8217;s CAC closed for the Boxing Day holiday.</li>
<li>U.K.&#8217;s FTSE 100 closed for the Boxing Day holiday.</li>
</ul>
Commodities at 06:00 AM ET
<ul>
<li>Crude Oil WTI was trading higher by 0.61% at $70.53/bbl, and Brent was up 0.56% at $73.58/bbl.</li>
<li>Natural Gas fell 2.31% to $3.421.</li>
<li>Gold was trading higher by 0.36% at $2,645.09, Silver was up 0.19% to $30.340, and Copper rose 0.11% to $4.1147.</li>
</ul>
U.S. Futures at 06:00 AM ET
Dow futures were down 0.36%, S&amp;P 500 futures declined 0.39%, and Nasdaq 100 futures slid 0.42%.
Forex at 06:00 AM ET
The U.S. Dollar Index was down 0.04% to 108.16. USD/JPY rose 0.03% to 157.45, and USD/AUD rose 0.14% to 1.6048.
Photo by Pavel Bobrovskiy via Shutterstock

Asia

Emerging Markets

Eurozone

Commodities

Forex

ADIV

AGOV

ASHR

BBEU

BOIL

CQQQ

PowerShares DBmmodity Index Optimum Yield Diversified Fund

EEMA

FLAX

CurrencyShares British Pound Sterling Trust

IEMG

IEUR

KraneShares Trust KraneShares S&P Pan Asia Dividend Aristocrats Index ETF

KDIV

SPEM

USDU

PowerShares DB US Dollar Index Bullish Fund

Asian Markets Up, Europe Closed; Dollar Hovers Near 2-Year High - Global Markets Today While US Slept

<a href="https://www.globenewswire.com/Tracker?data=MvoSLa0RdJ-p44BY3TZ25mYKru5_318w0rZMXr5aH6I0DqWabfIEqtY-P3Do4r-ha3Ixwnyb-TlA3geaSdd-igUkFxl2N0FLfz6qXlXQEgw=">Hyperscale Data, Inc.</a>&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GPUS#NYSE">GPUS</a>), a diversified holding company ("Hyperscale Data" or the "Company"), today announced the completion of a $50 million preferred equity investment, whereby the Company sold that dollar amount through the issuance to Ault &amp; Company, Inc. ("Ault and Company") of 50,000 shares of Series C Convertible Preferred Stock (the "Series C Shares").&nbsp;Ault &amp; Company&nbsp;has invested $50 million through multiple closings over the past thirteen (13) months. This strategic influx of capital has enabled Hyperscale Data to accelerate its growth trajectory, enhance its technological offerings, and execute its business expansion plans more effectively, with a focus on becoming a pure AI data center company. The Company would like to remind its stockholders that on March 25, 2024, the Company and Ault and Company agreed to raise the aggregate offering of Series C Shares from $50 million to $75 million. This offering is continuing apace, but the Company cannot assure you when Ault and Company will complete the remaining purchases of $25 million in Series C Shares, if at all.

GPUS

Hyperscale Data Secures $50M Investment, Eyes AI Data Center Growth

In addition to this significant investment, Hyperscale Data is strategically spinning out all of its non-data center and non-Bitcoin mining assets. This move is aimed at refining the Company's core focus and reinforcing its commitment to leading the AI-driven data center industry.
 &nbsp;

Hyperscale Data Closes $50M Of Aggregate $75M Preferred Equity Investment From Ault & Company; Says It Is Strategically Spinning Out All Of Its Non-Data Center And Non-Bitcoin Mining Assets

Meiwu Technology Regains Compliance With Nasdaq Listing Rule, Which Requires Ordinary Shares To Maintain Minimum Bid Price

Shares of&nbsp;MicroStrategy Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) dropped by 4.08% following the company&#8217;s announcement to issue more shares to finance additional Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) acquisitions. This move aligns with MicroStrategy&#8217;s ongoing strategy to bolster its Bitcoin reserves.
What Happened: MicroStrategy&#8217;s recent filing&nbsp;with the U.S. Securities and&nbsp;Exchange Commission (SEC) aims to expand&nbsp;the authorized number of Class&nbsp;A&nbsp;common stock from 330 million&nbsp;to 10.33 billion units and&nbsp;preferred stock from 5 million&nbsp;to over 1 billion units.&nbsp;This move underscores the company&#8217;s transition from a software enterprise&nbsp;to a major Bitcoin investor.
See Also:&nbsp;<a href="https://www.benzinga.com/trading-ideas/movers/24/12/42664692/bitcoin-flat-ethereum-dogecoin-spike-ahead-of-christmas-analyst-says-decline-in-btc-dominance-leaves-room-for-altcoins-to-pick-up?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin Flat, Ethereum, Dogecoin Spike Ahead Of Christmas: Analyst Says Decline In BTC Dominance Leaves &#8216;Room For Altcoins To Pick Up&#8217;</a>
The company recently acquired&nbsp;$561 million worth of Bitcoin,&nbsp;marking its seventh consecutive week&nbsp;of purchases, with total holdings now estimated at $40 billion. Despite Bitcoin&#8217;s 135% increase this year, market volatility is expected as $43 billion in&nbsp;Bitcoin and Ether derivatives are&nbsp;due to expire on Friday.
Meanwhile, Bitcoin Thursday during pre-market hours was trading at $95,621.41. The cryptocurrency briefly hit an intraday peak of $99,876.70. A broader cryptocurrency index, which includes tokens such as Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>), Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>), and Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>), also experienced a minor recovery, rising by 0.2%.
Why It Matters: MicroStrategy&#8217;s decision to issue more shares comes on the heels of its <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/12/42660092/microstrategy-sinks-after-nasdaq-100-inclusion-bitcoin-bet-under-fire">recent inclusion in the Nasdaq 100</a>, which has not been without challenges. The company&#8217;s stock fell over 8.5% on its debut in the index, marking a difficult start to its tenure. Over the past month, MicroStrategy&#8217;s stock has plunged more than 37% from its all-time high, reflecting investor concerns over its aggressive Bitcoin strategy. The company&#8217;s recent sale of $561 million in common stock to purchase an additional 5,262 Bitcoins at an average price of $106,662 per coin has further intensified scrutiny.
The latest analyst ratings for MicroStrategy Inc were issued by Bernstein on Dec.12, and by both TD Cowen and Barclays on Nov. 25. These analysts, <a href="https://www.benzinga.com/quote/MSTR/analyst-ratings">tracked by Benzinga</a>, have set an average price target of $546.67, suggesting a potential upside of 58.01% for the stock.
<figure class="wp-block-image size-large"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/26062848/Screenshot-2024-12-26-at-4.58.41%E2%80%AFPM-1024x364.png" alt="" class="wp-image-707471" /></figure>
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42673114/bitcoins-outperformance-could-leave-dogecoin-shiba-inu-sidelined-but-propel-pepe-dogwifhat-bonk-to-new-highs?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin&#8217;s Outperformance Could Leave Dogecoin, Shiba Inu Sidelined, But Propel Pepe, Dogwifhat, Bonk To New Highs</a></li>
</ul>
Disclaimer: 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.
Image via Shutterstock

$ETH

$SOL

MSTR

MicroStrategy Stock Tumbles Over 4% In Thursday Premarket: What's Going On?

Macro Economic Events

Econ #s

France Jobseekers Total For November 2,935.0K  Vs. 2,891.5K Prior

HC Wainwright &amp; Co. analyst Raghuram Selvaraju maintains Anavex Life Sciences (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVXL#NASDAQ">AVXL</a>) with a Buy and raises the price target from $40 to $42.

Price Target

AVXL

HC Wainwright & Co. Maintains Buy on Anavex Life Sciences, Raises Price Target to $42

Chinese EV startup Nio Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NIO#NYSE">NIO</a>) launched its new lower-priced EV brand Onvo in May this year. The brand started selling its first vehicle- the Onvo L60- in late September and since then, Nio sales have been on the rise.
What Happened: The Onvo L60 is a mid-size electric SUV that starts at 206,900 yuan ($28,347) with the battery pack included, much lower than Tesla&#8217;s affordable models Model 3 or Model Y in China.
In September, Nio delivered 832 Onvo L60s despite having only a few selling days. In October, the first full month of sales, Onvo deliveries rose to 4,319. In November, L60 deliveries rose to 5,082, implying demand for the vehicle. 
In August, the month before Onvo deliveries commenced, Nio delivered 20,176 vehicles, marking a growth of just 4.4% year-on-year.
In September, the first month of Onvo L60 deliveries, Nio&#8217;s total deliveries jumped 35.4% as compared to the corresponding period last year. In October and November, deliveries <a href="https://www.benzinga.com/24/12/42260165/li-auto-xpeng-nio-heres-how-november-deliveries-of-chinese-ev-startups-stack-up">marked an increase of 30.5% and 29%</a>, respectively.
Why It Matters: Nio identifies itself as a premium EV brand. Its ET9, for instance, starts at 788,000 yuan, including the battery. 
The low-cost EV from the company&#8217;s Onvo brand has helped it move to the low-cost EV segment which has significant demand.
Earlier this month, Nio also <a href="https://www.benzinga.com/24/12/42550944/whats-going-on-with-nio-stock-today">launched a new brand called Firefly</a>, touted as a rival to Mercedes&#8217; Smart and BMW&#8217;s Mini. The brand&#8217;s first vehicle shares its name and pre-sales started at a price of 148,800 yuan. It is expected to be launched in April 2025.
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/tech/24/12/42668333/tesla-model-x-lucid-gravity-or-rivian-r1s-which-three-row-electric-suv-is-a-better-buy" target="_blank" rel="noreferrer noopener">Tesla Model X, Lucid Gravity Or Rivian R1S: Which Three-Row Electric SUV Is A Better Buy?</a></li>
</ul>
Photo courtesy: Nio

Comments

Ai Technology Gr

News

Latest news for Ai Technology Gr (OTC:AIPG) Stock

Popular Channels

Tools & Features

Partners & Contributors

About Benzinga