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AlphaVest Acquisition Corp - Right

Trump Media &amp; Technology Group Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJT#NASDAQ">DJT</a>) <a href="https://www.benzinga.com/quote/DJT/news">stock has been in a free fall</a>, trading at a staggering 70% discount from its 52-week high of $79.38, reached on March 26, 2024.
Closing at $23.80 on Thursday, DJT stock is deep in the red for 2025, down 30% year-to-date and struggling to find support amid persistent selling pressure.
<figure class="wp-block-image size-full"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent022825&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="629" height="490" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/28064209/Screenshot-2025-02-28-at-5.11.56-PM.png" alt="" class="wp-image-803455" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/28064209/Screenshot-2025-02-28-at-5.11.56-PM.png 629w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/28064209/Screenshot-2025-02-28-at-5.11.56-PM-300x234.png 300w" sizes="(max-width: 629px) 100vw, 629px" /></a></figure>
<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent022825&amp;t=be2bearmibe3na1">Chart created using Benzinga Pro</a>
Read Also: <a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43562195/trump-media-to-launch-bitcoin-etf-could-political-themes-undermine-long-term-stability">Trump Media To Launch Bitcoin ETF: Could Political Themes Undermine Long-Term Stability?</a>
<h2 class="wp-block-heading">A Bearish Trend With No Breaks</h2>
On the charts, DJT stock is flashing bright red signals. DJT stock is trading below its eight, 20, 50 and 200-day moving averages, reinforcing the bearish momentum. 
The eight-day simple moving average (SMA) at $26.27, the 20-day SMA at $29.10, and the 50-day SMA at $33.08 all point to continued weakness.
With the 200-day SMA at $31.39, DJT remains in a firm downtrend, showing no signs of immediate reversal.
<h2 class="wp-block-heading">From Meme Hype To Market Reality</h2>
Despite early enthusiasm surrounding its SPAC merger, Trump Media is now grappling with harsh market realities. This remains a highly speculative play until the stock finds a floor and shows signs of stability. 
At 70% off its peak, DJT may look like a bargain to some, but the technicals scream caution. <a href="https://www.benzinga.com/quote/DJT/earnings">The company reported </a>a net loss of $400.9 million, largely driven by stock-based compensation and derivative liabilities, while annual revenue dropped 12% to just $3.6 million.
To counter its financial struggles, Trump Media is pushing into fintech, launching Truth+ streaming, and selling Trump-branded products—but so far, investors aren't buying the turnaround story.
<h2 class="wp-block-heading">Florida Reincorporation</h2>
In a bid to cut costs and shield itself from legal risks, Trump Media may have <a href="https://www.bizjournals.com/tampabay/news/2025/02/26/trump-media-reincorporation-florida.html">plans</a> to reincorporate in Florida. The move promises tax breaks and a friendlier regulatory environment, but with DJT's stock price in free fall, it remains to be seen whether this shift will be enough to restore investor confidence.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/25/02/43888652/trump-medias-strategic-fund-set-to-fuel-mergers-and-acquisitions">Trump Media&#8217;s Strategic Fund Set To Fuel Mergers And Acquisitions: Details</a></li>
</ul>
Image: Shutterstock

Social Media

Technicals

Tech

Trading Ideas

General

Trump Media Stock Craters 70% From Highs: Is There Any Floor Left?

The positive opinion is based on results from the Phase 3 BRUIN CLL-321 trial, recently presented at the 2024 American Society of Hematology Annual Meeting&nbsp;
BRUIN CLL-321 is the first randomized Phase 3 study in CLL ever conducted exclusively in patients previously treated with a BTK inhibitor
INDIANAPOLIS, Feb. 28, 2025 /PRNewswire/ -- Eli Lilly and Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>) announced today that the European Medicines Agency's (EMA) Committee for Medicinal Products for Human Use (CHMP) has issued a positive opinion for Jaypirca (pirtobrutinib), a non-covalent (reversible) Bruton's tyrosine kinase (BTK) inhibitor,&nbsp;for the treatment of adult patients with relapsed or refractory chronic lymphocytic leukemia (CLL) who have been previously treated with a BTK inhibitor.

Biotech

News

Lilly's Jaypirca Recommended By CHMP For Approval In The EU For Adults With Relapsed Or Refractory Chronic Lymphocytic Leukemia Previously Treated With A BTK Inhibitor

Bio-Techne's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TECH#NYSE">TECH</a>) short percent of float has risen 29.12% since its last report. The company recently reported that it has 5.08 million shares sold short, which is 3.68% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.66 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock?adType=benzinga-insights&amp;ad=short-interest&amp;campaign=wallstreetadvantage">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest?adType=benzinga-insights&amp;ad=short-interest&amp;campaign=wallstreetadvantage">List of the most shorted stocks</a>
<h3>Bio-Techne Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1740748526_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Bio-Techne has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Bio-Techne's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://www.benzinga.com/pro/">Benzinga Pro</a>, Bio-Techne's peer group average for short interest as a percentage of float is 5.67%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze?adType=benzinga-insights&amp;ad=short-interest&amp;campaign=wallstreetadvantage">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

TECH

Is the Market Bullish or Bearish on Bio-Techne?

Webster Finl's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WBS#NYSE">WBS</a>) short percent of float has risen 5.91% since its last report. The company recently reported that it has 3.26 million shares sold short, which is 2.15% of all regular shares that are available for trading. Based on its trading volume, it would take traders 5.04 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock?adType=benzinga-insights&amp;ad=short-interest&amp;campaign=wallstreetadvantage">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest?adType=benzinga-insights&amp;ad=short-interest&amp;campaign=wallstreetadvantage">List of the most shorted stocks</a>
<h3>Webster Finl Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1740748522_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Webster Finl has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Webster Finl's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://www.benzinga.com/pro/">Benzinga Pro</a>, Webster Finl's peer group average for short interest as a percentage of float is 3.56%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze?adType=benzinga-insights&amp;ad=short-interest&amp;campaign=wallstreetadvantage">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Is the Market Bullish or Bearish on Webster Finl?

JPMorgan Chase's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) short percent of float has risen 7.77% since its last report. The company recently reported that it has 31.01 million shares sold short, which is 1.11% of all regular shares that are available for trading. Based on its trading volume, it would take traders 4.4 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock?adType=benzinga-insights&amp;ad=short-interest&amp;campaign=wallstreetadvantage">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest?adType=benzinga-insights&amp;ad=short-interest&amp;campaign=wallstreetadvantage">List of the most shorted stocks</a>
<h3>JPMorgan Chase Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1740748516_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for JPMorgan Chase has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing JPMorgan Chase's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://www.benzinga.com/pro/">Benzinga Pro</a>, JPMorgan Chase's peer group average for short interest as a percentage of float is 1.16%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze?adType=benzinga-insights&amp;ad=short-interest&amp;campaign=wallstreetadvantage">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Peering Into JPMorgan Chase's Recent Short Interest

Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) CEO Jensen Huang might be all-in on GPUs, but IonQ Inc's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IONQ#NYSE">IONQ</a>) CEO Niccolo De Masi <a href="https://www.benzinga.com/topic/quantum-computing">says quantum computing</a> is the next big thing—and he's not backing down.
<h2 class="wp-block-heading">Quantum: The Third Leg Of Computing</h2>
"I can remember 10 years ago when Intel was busy bashing Jensen and Nvidia and saying GPUs would never matter," De Masi <a href="https://www.cnbc.com/video/2025/02/27/ionq-ceo-on-quantum-computing-and-mechanics-ai.html">said</a> in a CNBC interview. "I find that ironic that our market cap is about the same as Nvidia's 10 years ago. Now, Jensen is saying that you don't matter."
IonQ stock may have had a rocky 2025—down 42% year-to-date—but over the past six months, the stock has skyrocketed 257.9%, signaling that investors are taking the quantum race seriously. 
De Masi is confident that quantum processing units (QPUs) will soon sit alongside CPUs and GPUs as the backbone of computing.
Read Also: <a href="https://www.benzinga.com/news/management/25/02/43993251/ionq-q4-eps-miss-500-million-offering-ceo-appointment-acquires-stake-in-id-quantique-details">IonQ Q4 EPS Miss, $500 Million Offering, CEO Appointment, Acquires Stake In ID Quantique: Details</a>
<h2 class="wp-block-heading">Revenue, Partnerships, Quantum's Real-World Impact</h2>
&#8220;Quantum computing needs a lot of qubits to be truly useful. We think it takes about that many to do this useful stuff that we're already driving GAAP revenue around this year." De Masi said. "We're the only company in the space that has guided to $85 million in GAAP revenue this year at the midpoint."
IonQ isn't just talking the talk, it. is securing major partnerships with industry giants like Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), AstraZeneca Plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AZN#NASDAQ">AZN</a>) and General Dynamics Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GD#NYSE">GD</a>).
"We're going to solve problems that no one else can solve in the world because of the beauty of quantum mechanics," De Masi said.
<h2 class="wp-block-heading">The 800-Pound Gorilla In Quantum Computing</h2>
With Nvidia dominating AI and Microsoft making heavy bets on quantum through Azure, IonQ is positioning itself as the independent leader in quantum computing. "We were the first. We were the best capitalized independent player in the market," De Masi stated. "I would argue that we remain the 800-pound gorilla of the category."
As tech giants continue to evolve their computing stacks, the question isn't whether quantum computing matters, it's when it will become indispensable. And IonQ is betting that moment is sooner than most expect.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/tech/25/02/44032246/sam-altman-calls-it-magic-as-openai-rolls-out-gpt-4-5-feels-like-talking-to-a-thoughtful-person-to-me">Sam Altman Calls It &#8216;Magic&#8217; As OpenAI Rolls Out GPT-4.5: &#8216;Feels Like Talking To A Thoughtful Person To Me&#8217;</a></li>
</ul>
Photo: Shutterstock

Long Ideas

Interview

IONQ

MSFT

NVDA

IonQ CEO Fires Back At Nvidia's Jensen Huang: 'We Remain The 800 Pound Guerrilla'

HLXB

Trading Halt: Halt status updated at 8:15:00 AM ET: Quotation Resumption: News and Resumption Times

Rosenblatt analyst Mike Genovese maintains Adtran Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADTN#NASDAQ">ADTN</a>) with a Buy and maintains $15 price target.

Price Target

Analyst Ratings

ADTN

Rosenblatt Maintains Buy on Adtran Holdings, Maintains $15 Price Target

Morgan Stanley analyst Erik Woodring maintains HP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HPQ#NYSE">HPQ</a>) with a Equal-Weight and lowers the price target from $36 to $35.

Morgan Stanley Maintains Equal-Weight on HP, Lowers Price Target to $35

Small Cap Consumer Research analyst Eric Beder reiterates Betterware de Mexico SAPI (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BWMX#NYSE">BWMX</a>) with a Buy and maintains $22.5 price target.

Reiteration

BWMX

Small Cap Consumer Research Reiterates Buy on Betterware de Mexico SAPI, Maintains $22.5 Price Target

Morgan Stanley analyst Keith Weiss maintains Autodesk (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADSK#NASDAQ">ADSK</a>) with a Overweight and raises the price target from $375 to $385.

ADSK

Morgan Stanley Maintains Overweight on Autodesk, Raises Price Target to $385

Frontline Plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FRO#NYSE">FRO</a>) reported <a target="_blank" href="https://www.frontlineplc.cy/fro-fourth-quarter-and-full-year-2024-results/" rel="noreferrer noopener">fourth-quarter</a> revenue growth of 6.9% year-over-year to $443.491 million, surpassing the $300.67 million consensus.
Adjusted EPS for the quarter declined to 20 cents from 46 cents a year ago, <a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener">missing the consensus of 36 cents.</a>
Reported spot TCEs for VLCCs, Suezmax tankers, and LR2/Aframax tankers were $35,900 (vs. $39,200 last year), $33,300 (vs. $45,700 last year) and $26,100&nbsp;(vs. $42,900 prior year) per day.
At the close of the fourth quarter of 2024, contracted ballast days totaled 1,116 for VLCCs, 238 for Suezmax tankers, and 174 for LR2/Aframax tankers.
Net operating income for the quarter declined to $129.72 million from $138.05 million a year ago, and margin contracted 400 bps to 29.3%.
Operating cash flow was $167.85 million in the fourth quarter, compared to $100.49 million in the same quarter a year ago. For 2024, it stood at $736.41 million, down from $856.18 million a year ago. Frontline held cash and cash equivalents of $413.53 million as of the quarter end.
The Board declared a $0.20 per share dividend for the fourth quarter, with a record date of March 14, 2025, ex-dividend dates of March 13 (Oslo) and March 14 (NYSE), and payment on March 31, 2025.
As of December 31, 2024, the Company owned a fleet of 81 vessels, including 41 VLCCs, 22 Suezmax tankers, and 18 LR2/Aframax tankers, with a total capacity of approximately 17.8 million DWT.
"The fourth quarter of 2024 came in unusually soft compared to previous years. Global oil demand was up marginally as the year came to an end, but global seaborne exports slowed in the fourth quarter. During the quarter we saw positive developments in the enforcement of sanctions against Iran and Russia in particular, but we could not escape the fact that these two countries represent a material part of the supply to Asia, at cost to demand for the vessels Frontline operates," commented Lars H. Barstad, Chief Executive Officer of Frontline Management.
"For 2025 we have already seen broader sanctions with a wider scope, at the same time as key importers of exposed crude are diversifying away from the mentioned suppliers. Compliant fleet growth for the asset classes we deploy peaked a few years back, making the outlook very constructive as Frontline sail into the new year with our cost-efficient operations and modern fleet," added Barstad.
Outlook: Frontline expects spot TCEs for the first quarter of 2025 to be lower than the currently contracted rates, primarily due to the impact of ballast days.
Price Action: FRO shares traded higher by 1.05% at $15.47 premarket at last check Friday.

Earnings

Equities

Movers

Frontline Q4 Earnings: Revenue Beats, But EPS Sinks—CEO Cites 'Unusually Soft' Market

Morgan Stanley analyst Jorge Kuri downgrades DLocal (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DLO#NASDAQ">DLO</a>) from Overweight to Equal-Weight and lowers the price target from $11 to $10.

Downgrades

Morgan Stanley Downgrades DLocal to Equal-Weight, Lowers Price Target to $10

Rosenblatt analyst Kevin Cassidy maintains Adeia (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADEA#NASDAQ">ADEA</a>) with a Buy and maintains $20 price target.

ADEA

Rosenblatt Maintains Buy on Adeia, Maintains $20 Price Target

WIIM

LINE

Lineage shares are trading lower after multiple firms lowered their respective price targets on the stock.

WestPark Capital analyst Casey Ryan reiterates Okta (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OKTA#NASDAQ">OKTA</a>) with a Buy and maintains $140 price target.

OKTA

WestPark Capital Reiterates Buy on Okta, Maintains $140 Price Target

<h3>Gainers</h3>
<table>
<thead>
<tr>
<th>Symbol</th>
<th>Name</th>
<th align="right">Price</th>
<th align="right">Change ($)</th>
<th align="right">Change (%)</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>)</td>
<td>SPDR Select Sector Fund - Financial</td>
<td align="right">51.48</td>
<td align="right">0.35</td>
<td align="right">0.68</td>
<td>150.9K</td>
</tr>
<tr>
<td>(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLI#NYSE">XLI</a>)</td>
<td>SPDR Select Sector Fund - Industrial</td>
<td align="right">135.27</td>
<td align="right">0.74</td>
<td align="right">0.55</td>
<td>447</td>
</tr>
<tr>
<td>(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLP#NYSE">XLP</a>)</td>
<td>SPDR Select Sector Fund - Consumer Staples</td>
<td align="right">82.40</td>
<td align="right">0.41</td>
<td align="right">0.50</td>
<td>17.3K</td>
</tr>
<tr>
<td>(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>)</td>
<td>SPDR Select Sector Fund - Energy Select Sector</td>
<td align="right">90.04</td>
<td align="right">0.43</td>
<td align="right">0.47</td>
<td>5.8K</td>
</tr>
<tr>
<td>(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLV#NYSE">XLV</a>)</td>
<td>SPDR Select Sector Fund - Health Care</td>
<td align="right">147.91</td>
<td align="right">0.69</td>
<td align="right">0.46</td>
<td>6.6K</td>
</tr>
<tr>
<td>(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>)</td>
<td>SPDR Select Sector Fund - Utilities</td>
<td align="right">78.24</td>
<td align="right">0.21</td>
<td align="right">0.26</td>
<td>1.8K</td>
</tr>
<tr>
<td>(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLC#NYSE">XLC</a>)</td>
<td>The Communication Services Select Sector SPDR Fund</td>
<td align="right">100.56</td>
<td align="right">0.03</td>
<td align="right">0.02</td>
<td>412</td>
</tr>
</tbody>
</table>
<h3>Losers</h3>
<table>
<thead>
<tr>
<th>Symbol</th>
<th>Name</th>
<th align="right">Price</th>
<th align="right">Change ($)</th>
<th align="right">Change (%)</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLRE#NYSE">XLRE</a>)</td>
<td>Real Estate Select Sector SPDR Fund (The)</td>
<td align="right">42.7001</td>
<td align="right">-0.15</td>
<td align="right">-0.35</td>
<td>1.8K</td>
</tr>
<tr>
<td>(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLY#NYSE">XLY</a>)</td>
<td>SPDR Select Sector Fund - Consumer Discretionary</td>
<td align="right">211.7200</td>
<td align="right">-0.71</td>
<td align="right">-0.34</td>
<td>2.9K</td>
</tr>
<tr>
<td>(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLB#NYSE">XLB</a>)</td>
<td>Materials Select Sector SPDR</td>
<td align="right">87.9101</td>
<td align="right">-0.10</td>
<td align="right">-0.12</td>
<td>351</td>
</tr>
<tr>
<td>(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>)</td>
<td>SPDR Select Sector Fund - Technology</td>
<td align="right">222.5500</td>
<td align="right">-0.04</td>
<td align="right">-0.02</td>
<td>15.8K</td>
</tr>
</tbody>
</table>
<a href="https://pro.benzinga.com/?utm_source=insights">Pulled from Benzinga Pro data</a> the above sector movers alert assists traders in understanding macro-level trends and market variations. Traders will look for sector movers providing information on sectors that are over- or under-performing, deriving these results into investing decisions on exchange-traded funds (ETFs) or individual tickers in those sectors. 
For more information on sector movers, <a href="https://www.benzinga.com/movers">click here</a>.

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Morgan Stanley analyst Nigel Dally upgrades Corebridge Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRBG#NYSE">CRBG</a>) from Equal-Weight to Overweight and raises the price target from $35 to $43.

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ByteDance&#8217;s TikTok committed $8.8 billion in <a target="_blank" href="https://www.benzinga.com/topic/thailand" rel="noreferrer noopener">data centers in Thailand</a> over five years, Reuters cited VP Helena Lersch on Friday.
<a target="_blank" href="https://www.benzinga.com/government/24/10/41462536/nvidia-accelerates-global-growth-eyes-ai-chip-development-in-india-and-expansion-in-thailand" rel="noreferrer noopener">Prior reports indicated</a> Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) eying investments in Thailand after&nbsp;Alphabet Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Google&nbsp;and&nbsp;Microsoft Corp&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) move as Southeast Asia becomes a hub for artificial intelligence data centers and component manufacturing.
Thailand has attracted multibillion-dollar investments in data centers and cloud infrastructure from&nbsp;Amazon.com Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), Google, and Microsoft.
Also Read: <a target="_blank" href="https://www.benzinga.com/25/01/43198088/tiktok-ban-sparks-divide-oracle-backs-trump-while-apple-google-play-it-safe" rel="noreferrer noopener">TikTok Ban Sparks Divide: Oracle Backs Trump While Apple, Google Play It Safe</a>
Meanwhile, geopolitical tensions continue to intensify between the U.S. and China over access to advanced artificial intelligence and other semiconductor technology. Washington has imposed multiple semiconductor technology sanctions on China, restricting its access to technologies from the likes of Nvidia and Taiwan Semiconductor Manufacturing Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>).
ByteDance&nbsp;<a target="_blank" href="https://www.benzinga.com/news/global/25/01/43153555/tiktok-parent-bytedance-plans-12-billion-ai-chip-investment-in-2025-to-bolster-global-ai-ambitions-amid-us-export-controls-report" rel="noreferrer noopener">reportedly plans to invest</a> over $12 billion in AI infrastructure by 2025. It has allocated nearly $5.5 billion for AI chip acquisitions within China and plans to invest around $6.8 billion overseas to&nbsp;improve its model training&nbsp;capabilities using Nvidia chips.
About 60% of ByteDance&#8217;s domestic semiconductor orders will likely be fulfilled by Chinese suppliers like&nbsp;Huawei Technologies and Cambricon. The remaining orders will involve Nvidia&#8217;s China-tailored chips.
In January, Thailand&#8217;s investment board announced a&nbsp;$3.8 billion deal.
Also Read:
<ul>
<li><a href="https://www.benzinga.com/government/regulations/25/02/44006332/nvidia-faces-new-ai-chip-challenge-as-huawei-gains-ground-in-china-despite-us-sanctions" target="_blank" rel="noreferrer noopener">Nvidia Faces New AI Chip Challenge As Huawei Gains Ground In China Despite US Sanctions</a></li>
</ul>
Photo by XanderSt on Shutterstock

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TikTok Invests $8.8 Billion in Thailand Data Centers, Bypassing US-China Tech Tensions

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="900" height="600" src="https://contributor-assets.benzinga.com/wp-content/uploads/2025/02/28071623/Dalu-0228-01.jpeg" alt="" class="wp-image-6867" srcset="https://contributor-assets.benzinga.com/wp-content/uploads/2025/02/28071623/Dalu-0228-01.jpeg 900w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/02/28071623/Dalu-0228-01-300x200.jpeg 300w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/02/28071623/Dalu-0228-01-768x512.jpeg 768w" sizes="(max-width: 900px) 100vw, 900px" /></figure>
The regional property manager has filed for a Nasdaq IPO that would value it at about $100 million and give it a far higher P/E ratio than most of its peers
<h4 class="wp-block-heading">Key Takeaways:</h4>
<ul>
<li>Dalu International has filed for a Nasdaq IPO that could raise around $8 million and give the company a price-to-earnings ratio of about 57</li>
<li>The property management company boasts far higher margins than most of its peers as it transitions into more profitable rental services</li>
</ul>
China's property market has hardly been a friendly place for investors these days, as prices continue to slump and thousands of projects remain unfinished due to lack of funds and weak demand. But that's hardly deterring&nbsp;Dalu International Group Ltd., a regional provider of property management services, which is aiming to raise a relatively modest $8 million in a Nasdaq IPO, according to&nbsp;<a href="https://www.sec.gov/Archives/edgar/data/1950851/000121390025017058/ea0204792-05.htm">a filing</a>&nbsp;by the company this week.
Property management companies are one of the few groups that have remained consistently profitable during China's real estate downturn, relying mostly on regular management fees for their revenue. Still, even this group is coming under pressure, as reflected by data in Dalu's prospectus that we'll describe shortly.
This IPO is somewhat unusual for a number of reasons, led by Dalu's choice to list on the Nasdaq. Nearly all of its peers are listed in Hong Kong, where investors are quite familiar with anything related to China's property market. Perhaps Dalu is choosing New York for exactly that reason, as it's also seeking quite a rich valuation compared with many of its Hong Kong-listed peers.
Dalu seems to feel it merits such a rich valuation due to its impressive margins, which appears to be the result of its recent move beyond traditional property management services into more lucrative leasing services. Such services have become its main revenue source since it entered the business just three years ago.
The company also offers a relatively unique chance for investors to buy into a very regional property manager that hopes to expand beyond its home base in Chengdu, capital of Southwest China's Sichuan province. It says it plans to use half of the proceeds from its IPO for strategic investments, including acquisitions and joint ventures that could take it beyond its current base where it manages about a dozen commercial and residential properties, and provides subleasing services for another three.
Before we delve into its financials, we'll take a closer look at the company's fundraising goals that show why it thinks quite highly of itself. Dalu said it plans to sell 1.5 million shares for between $4 and $6 apiece, representing 7.7% of its expanded share capital. That would value the company at about $100 million.
That market value and the company's latest annual profit would give it quite a high price-to-earnings (P/E) ratio of 57. Other Hong Kong-listed peers, which are all much larger, trade at far lower multiples, including&nbsp;Jinmao Services&nbsp;(0816.HK) at just 6.7,&nbsp;Onewo&nbsp;(2602.HK) at 15, and the smaller&nbsp;Yuexiu Services&nbsp;(6626.HK) at 9.2.
Part of the low valuations for its peers may owe to the fact that most are units of major listed property developers that are nearly all losing big money right now. Investors may worry that those bigger parents may try to syphon funds from their property management arms that are one of their few profitable assets. In fact, Dalu International is also controlled by a real estate developer, Dalu Group, which currently supplies about a quarter of Dalu International's revenue.
The only peer that comes even close to what Dalu is seeking in terms of valuation is&nbsp;KE Holdings&nbsp;(BEKE.US; 2423.HK), China's leading provider of real estate brokerage services, whose current P/E ratio stands at 47.
<h4 class="wp-block-heading">Fat margins</h4>
All that said, we'll take a closer look at Dalu International's financials, including gross margins that look quite strong. At the same time, those financials show how even property managers are now coming under pressure as commercial property vacancies grow and homeowners are less willing to pay high management fees in a slowing economy and weak property market.
The company operates in a Chinese property management services market expected to grow 4.5% annually from 2020 to reach $108 billion by 2027, according to third-party market data in the prospectus. Dalu also points out that the market's regional nature makes it highly fragmented, providing opportunities for consolidation.
Dalu's revenue grew by an anemic 3% to $2.84 million in the six months to last September, the first half of the company's fiscal year, from $2.76 million in the year-ago period. That represented a sharp slowdown from the 15.7% year-on-year revenue growth it recorded in its fiscal year through March 2024, when the figure reached $5.54 million.
A major factor behind the slowdown was weakness in the fees the company charges for its services. Those fees for its managed residential properties fell slightly to $0.34 per square meter in the six months to September 2024 from $0.35 a year earlier. Commercial property management fees showed a similar trend over that period, dropping to $1.71 per square meter from $1.75 a year earlier. Before that, residential management fees jumped 46% in the previous full fiscal year, while commercial management fees rose by 14%.
"At present, office space and retail space supply are rising when occupancy rates are on the decline," the company said. "How to attract and retain tenants and customers has become a major challenge in our business operations."
Despite the weakness, Dalu managed to record a gross margin of 44.2% in the six months to last September – nearly double or more compared with the 24.6% for Jinmao Services in the first half of last year, 25.9 for Yuexiu Services and 21.2% for Country Garden Services.
A major factor behind its high margins appears to be Dalu's April 2022 entry into leasing services, which carry higher margins than management services. The prospectus shows that such leasing services now account for more than half of the company's total revenue, at around 60% in its latest reporting period, while most of the rest comes from property management.
On its bottom line, Dalu reported a net profit of $878,000 for the six months through last September, up 4.8% year-on-year. That kind of profit growth, combined with its 3% revenue growth, hardly look that impressive, and trail most of its peers. But Dalu is probably hoping investors will focus on its margins, plus its potential to become an industry consolidator, as it floats shares in New York – rather than Hong Kong – to take advantage of relative investor unfamiliarity with the complexities of China's property market.

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