Latest news for Benevolent AI (OTC:BAIVF) Stock

Benevolent AI is a clinical-stage AI-enabled drug discovery company. It delivers novel drug candidates with a higher probability of clinical success than those developed using traditional methods. The Benevolent Platform powers a growing in-house pipeline of over 20 drug programmes, spanning from target discovery to clinical studies, and it maintains commercial collaborations with pharmaceutical companies.

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While 2024 witnessed Tesla Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) vehicle deliveries fall year-on-year for the first time, its energy storage deployments hit new highs.
What Happened: The EV company said on Thursday that it deployed 31.4 GWh of energy storage products in 2024, up from 14.7 GWh in 2023 and marking a growth of 114% year over year.
Tesla&#8217;s energy storage deployments have been steadily rising for the past five years. In 2019, the company deployed only 1.7 GWh of energy storage.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="710" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/03000034/viiO2-tesla-s-annual-energy-storage-deployment-gwh--1024x710.png" alt="" class="wp-image-716331" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/03000034/viiO2-tesla-s-annual-energy-storage-deployment-gwh--1024x710.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/03000034/viiO2-tesla-s-annual-energy-storage-deployment-gwh--300x208.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/03000034/viiO2-tesla-s-annual-energy-storage-deployment-gwh--768x533.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/03000034/viiO2-tesla-s-annual-energy-storage-deployment-gwh-.png 1240w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Source: Tesla</figcaption></figure>
However, Tesla also reported its <a href="https://www.benzinga.com/trading-ideas/movers/25/01/42766117/tesla-stock-tumbles-on-q4-deliveries-whats-going-on">first fall in annual vehicle deliveries</a> on Thursday. The company delivered 1,789,226 vehicles in 2024, 1.1% less than the 1,808,581 deliveries reported for 2023. 
Why It Matters: Tesla manufactures two energy storage products –&nbsp;<a href="https://www.benzinga.com/news/24/08/40478134/tesla-breaks-powerwall-production-record-at-giga-nevada-as-it-aims-to-ramp-up-energy-storage-deploym" target="_blank" rel="noreferrer noopener">the Powerwall&nbsp;</a>and the<a href="https://www.benzinga.com/news/24/11/41737630/tesla-makes-10-000th-megapack-at-california-as-energy-segment-booms" target="_blank" rel="noreferrer noopener"> Megapack</a>. While the powerwall is a compact home battery that stores energy generated by solar or from the grid, each Megapack unit can store over 3.9 MWh of energy.
Tesla currently operates a Megafactory in Lathrop, California, capable of making 10,000 Megapack units in a year. The company is also putting up a Megafactory in Shanghai which it expects to start shipping Megapacks in the first quarter of 2025. It has already <a href="https://www.benzinga.com/news/global/24/12/42737037/tesla-shanghai-megafactory-starts-trial-production-seven-months-after-breaking-ground">commenced trial production</a>.
In the three months through the end of September, Tesla's energy generation and storage revenue&nbsp;<a href="https://www.benzinga.com/news/24/10/41537560/teslas-energy-segment-boom-in-q3-sparks-leadership-changes-veteran-mike-snyder-promoted-as-vp" target="_blank" rel="noreferrer noopener">touched $2.38 billion</a>, marking a growth of 52% as compared to the corresponding period of last year. The revenue from the segment, in fact, accounted for 9.4% of the company&#8217;s total revenue 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:
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<li><a href="https://www.benzinga.com/25/01/42780030/tesla-will-put-cybertruck-involved-in-explosion-on-new-years-day-back-on-road-says-elon-musk">Tesla Will Put Cybertruck Involved In Explosion At Trump Hotel Back On Road, Says Elon Musk: &#8216;We&#8217;ll Buff Out The Scratches&#8217;</a></li>
</ul>
Photo courtesy: Shutterstock

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Tech

TSLA

Tesla's Energy Storage Deployments Hit New Highs In Q4 Even As Vehicle Deliveries Disappoint

As of December 31, 2024, the Company's net assets were $2.4 billion, and its net asset value per share was $13.90. As of December 31, 2024, the Company's asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 653% and the Company's asset coverage ratio under the 1940 Act with respect to total leverage (debt and preferred stock) was 488%.

Reported Earlier, Kayne Anderson Energy Infrastructure Fund Net Assets Were $2.4B, And	Net Asset Value Per Share Was $13.90 As Of December 31, 2024

U. S. Steel is making this commitment to thank the local communities for supporting us as we pursue our transaction with Nippon Steel, and in recognition of the vital role our employees play to drive the local economy and the American steel industry.
This commitment will only be made possible with the investments that Nippon Steel will make in our company, securing our facilities for generations to come, especially at the Mon Valley in Western Pennsylvania.

NPSCY

Reported Earlier, U.S. Steel And Nippon Steel To Fund Workforce Training Center In Western PA

Samsung Electronics Co. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SSNLF#OTC">SSNLF</a>) has introduced two new devices in the U.S. market: the Galaxy Fit 3 and the Galaxy A16 5G.&nbsp;
What Happened: These products, initially launched in other regions last October, are now available for American consumers.
Galaxy Fit 3: It is a budget-friendly fitness tracker, similar to the Fitbit Charge 6 or Fitbit Inspire 3, owned by Alphabet Inc.'s (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>) subsidiary Google. The device is available for $59.99 and comes in three color options: Gray, Silver, and Pink Gold.
See Also: <a href="https://www.benzinga.com/tech/24/12/42735755/mrbeasts-daring-new-challenge-live-in-a-jet-for-100-days-and-then-keep-it-are-you-game?itm_source=parsely-api">MrBeast&#8217;s Daring New Challenge: Live In A Jet For 100 Days And Then Keep It — Are You Game?</a>
It features a 1.6-inch AMOLED display, which is 45% larger than its predecessor, and offers up to 13 days of battery life. It is water-resistant and can track over 100 workout types.&nbsp;
The Galaxy Fit 3 also includes sleep tracking and <a href="https://www.benzinga.com/news/24/01/36690640/masimo-ceo-wholeheartedly-feels-apple-watch-users-are-better-off-without-blood-oxygen-monitoring-fea">blood oxygen monitoring</a> — a feature that's missing from Apple Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) Watch Series 10.
Galaxy A16 5G: The smartphone is priced at $199 and boasts a 6.7-inch Full HD+ AMOLED display with a 90Hz refresh rate.
It is powered by Samsung&#8217;s Exynos 1330 chip and a 5,000mAh battery. The phone includes a 50-megapixel primary camera and promises six years of Android OS updates and security patches.
The device is available in Blue Black and Light Gray options.
Availability: Both devices will be available for purchase starting Jan. 9. 2025, through Samsung&#8217;s website, retailers, and carriers. Purchasing the Galaxy A16 5G offers a 50% discount on the Galaxy Fit 3.
Subscribe to the <a href="https://bztechtrends.beehiiv.com/subscribe">Benzinga Tech Trends newsletter</a> to get all the latest tech developments delivered to your inbox.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="724" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/02234152/Fit3_with-Galaxy-A16_Ecosystem-KV_2P_RGB-1536x1086-1-1024x724.jpg" alt="" class="wp-image-716319" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/02234152/Fit3_with-Galaxy-A16_Ecosystem-KV_2P_RGB-1536x1086-1-1024x724.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/02234152/Fit3_with-Galaxy-A16_Ecosystem-KV_2P_RGB-1536x1086-1-300x212.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/02234152/Fit3_with-Galaxy-A16_Ecosystem-KV_2P_RGB-1536x1086-1-768x543.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/02234152/Fit3_with-Galaxy-A16_Ecosystem-KV_2P_RGB-1536x1086-1.jpg 1528w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Source: Samsung</figcaption></figure>
Why It Matters: According to <a href="https://www.benzinga.com/24/12/42570544/apple-watch-is-getting-a-run-for-its-money-as-chinese-tech-giants-led-by-huawei-lead-20-growth-in-global-wrist-worn-device-market">an IDC report released</a> last month, the global wrist-worn device market saw shipments reach 139 million units in the first three quarters of 2024.
This growth was driven by Chinese tech giants like Huawei Technologies, challenging established players such as Apple. Samsung ranked fourth globally with 11.5 million units shipped, securing an 8.3% market share.
Samsung is also preparing to launch its Galaxy S25 series, <a href="https://www.benzinga.com/24/12/42545936/samsung-galaxy-s25-ultra-and-s25-leaks-show-off-sleek-curved-design-and-slimmer-bezels-than-apples-iphone-16-pro-max">expected to be released</a> on Jan. 22 later this month. The South Korean giant has been <a href="https://www.benzinga.com/news/24/09/40812318/samsung-to-reportedly-slash-global-workforce-by-up-to-30-in-certain-divisions-amid-intense-competiti">facing intense competition</a> from Apple and Huawei in the smartphone market.
Check out more of Benzinga's Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech">following this link</a>.
Read Next:
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<li><a href="https://www.benzinga.com/tech/25/01/42779753/mark-zuckerbergs-meta-replaces-global-affairs-chief-nick-clegg-with-republican-joel-kaplan-ahead-of-trump-inauguration?itm_source=parsely-api">Mark Zuckerberg&#8217;s Meta Replaces Global Affairs Chief Nick Clegg With Republican Joel Kaplan Ahead Of Trump Inauguration</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

AAPL

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GOOGL

SSNLF

Samsung Challenges Google With $60 Fitbit Killer, Also Brings $200 Budget Smartphone To The US: What You Need To Know

It's not news that crazy things happen in the cryptocurrency space. But if someone told you a coin named Fartcoin (FARTCOIN) would run into a billion-dollar valuation and hit new highs every week, you might still scratch your head, trying to make sense of it all.
What happened: The Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)-based coin, having the most frivolous of names, soared 21% to become the market's third-best-performing cryptocurrency in the last 24 hours.
The coin hit an all-time high of $1.45 on Thursday before a slight correction. At its peak, FARTCOIN was worth more than Nasdaq-listed Papa John&#8217;s International Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PZZA#NASDAQ">PZZA</a>).
It boasted a market capitalization of $1.32 billion at the time of writing, with trading volumes jumping 228% in the last 24 hours.
FARTCOIN outshone mainstream cryptocurrencies like Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>), which gained just 2.19% and 2.32%, respectively.
See Also:<a href="https://www.benzinga.com/24/12/42735744/pharma-bro-martin-shkreli-predicts-doom-for-michael-saylors-microstrategy-as-stock-dips-below-300-in-after-hours-trading"> &#8216;Pharma Bro&#8217; Martin Shkreli Predicts Liquidation Doom For MicroStrategy Amid Fall Below $300, Says Bitcoin Will Hit $250K Without Michael Saylor</a>
The meme coin has triggered polarizing opinions in the cryptocurrency space.&nbsp;
"Pharma Bro" Martin Shkreli said the coin was worth nothing and would go to zero.
<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">i am saying Fartcoin is worth nothing and will go to zero. fuck you and your memes. PVP draining each other when we should be upliftin&#39; and shit <a href="https://t.co/ukYlPn6tqH">https://t.co/ukYlPn6tqH</a>
&mdash; Martin Shkreli (@MartinShkreli) <a href="https://twitter.com/MartinShkreli/status/1874881496600936677?ref_src=twsrc%5Etfw">January 2, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Meanwhile, a widely followed trader who goes by the pseudonym of Altcoin Sherpa has been on a <a href="https://www.benzinga.com/markets/cryptocurrency/25/01/42756059/crypto-analyst-bullish-on-this-meme-coin-thats-turned-heads-with-4000-surge">FARTCOIN accumulating spree</a>, attributing his confidence to the coin's strong meme potential.
Price Action: At the time of writing, FARTCOIN was exchanging hands at $1.36, up 21.6% in the last 24 hours, <a href="https://coinmarketcap.com/currencies/fartcoin/">according </a>to CoinMarketCap.
Photo Courtesy: file404 On Shutterstock.com
Read Next:&nbsp;
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/01/42758291/elon-musks-return-to-original-x-avatar-causes-coin-themed-on-kekius-maximus-to-crash-90-frog-themed-pepe-slips-as-well">Elon Musk&#8217;s Return To Original X Avatar Causes Coin Themed On &#8216;Kekius Maximus&#8217; To Crash 90% — Frog-Themed PEPE Slips As Well</a></li>
</ul>

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PZZA

Fart Coin Goes From Giggles To Gains As Meme Coin Hit New Highs, Equals Papa John's Valuation

Chinese EV giant BYD Co Ltd (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDY#OTC">BYDDY</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDF#OTC">BYDDF</a>) overtook Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) yet again as the world&#8217;s biggest battery electric vehicle (BEV) seller in the fourth quarter of 2024. 
What Happened: Tesla reported on Thursday that it delivered <a href="https://www.benzinga.com/trading-ideas/movers/25/01/42766117/tesla-stock-tumbles-on-q4-deliveries-whats-going-on">495,570 BEVs in the three months</a> through the end of December, significantly lower than the 595,413 BEVs <a href="https://www.benzinga.com/25/01/42758760/tesla-rival-byd-marks-50-growth-in-december-passenger-vehicle-sales-likely-to-trump-tesla-in-q4-bev-sales-yet-again">sold by BYD</a> in the period.
Though BYD managed to trump Tesla in the fourth quarter, the American EV giant delivered 1,789,226 BEVs through 2024, retaining its position as the bestselling pure EV brand for the year. BYD, meanwhile, managed to deliver only 1,764,992 BEVs in the twelve months, or 24,234 units less than Tesla. 
Why It Matters: BYD first took over Tesla as the world&#8217;s largest BEV seller in the last quarter of 2023. Tesla took back the title in the first quarter of 2024 and <a href="https://www.benzinga.com/24/12/42680542/tesla-or-byd-which-ev-giant-will-sell-more-battery-electric-vehicles-in-q4">retained it for three consecutive quarters</a>. 
2024 marks the first year that Tesla&#8217;s annual deliveries have fallen (1.1%) as compared to the previous year. In 2023, Tesla delivered 1,808,581 vehicles around the globe. To mark a growth over last year, the company had to deliver at least 514,926 vehicles in the three months through the end of December.&nbsp;However, the company could not even breach the 500,000 target. 
BYD&#8217;s 2024 BEV sales, meanwhile, marked a growth of 12% year-on-year, according to a previous report.
Check out more of Benzinga's Future Of Mobility coverage by <a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>
Photo via Shutterstock
Read Next:
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<li><a href="https://www.benzinga.com/25/01/42760189/tesla-says-it-added-11000-superchargers-in-2024">Tesla Adds 11,000 Superchargers In 2024, Takes Total Count To Over 65,000</a></li>
</ul>

BYDDF

BYDDY

Tesla Overtaken by BYD Again: Chinese Player Becomes World's Biggest EV Seller In Q4

Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) has agreed to pay $95 million to settle a lawsuit alleging its Siri voice assistant recorded users&#8217; private conversations without consent, according to court documents filed Tuesday at the U.S. District Court for the Northern District of California.
What Happened: The preliminary settlement could benefit millions of U.S. consumers who owned Apple devices between September 2014 and December 2024, Reuters reported. 
Eligible users can receive up to $20 per Siri-enabled device, with a limit of five claims per person. Approved claimants should receive payments within 60 days of filing.
The lawsuit stemmed from user complaints that Siri would accidentally activate and record private conversations, which allegedly resulted in targeted advertising. Users claimed Apple shared these recordings with third-party companies, though Apple has denied these privacy violation allegations.
See Also: <a href="https://www.benzinga.com/25/01/42779889/carvana-unity-software-supercom-rigetti-computing-tesla-why-these-5-stocks-are-on-investors-radars-today">Carvana, Unity Software, SuperCom, Rigetti Computing, Tesla: Why These 5 Stocks Are On Investors&#8217; Radars Today</a>
Why It Matters: As part of the settlement, Apple must delete any unauthorized <a href="https://www.benzinga.com/news/23/12/36270839/apple-settles-family-sharing-class-action-lawsuit-for-25m-heres-how-you-can-claim-your-share">recordings made before</a> October 2019 within six months of the agreement&#8217;s effective date. The company will also revise its user guidance about the &#8220;Improve Siri&#8221; option to clarify what information may be stored.
In late 2023, Google settled a similar lawsuit for $700 million over unauthorized <a href="https://www.benzinga.com/news/23/12/36296656/google-agrees-to-700m-settlement-in-antitrust-case-promises-play-store-policy-revisions">recordings by its voice assistant</a>.
The court has scheduled the next hearing for Feb. 14 in Oakland to finalize the settlement terms. 
Price Action: Apple&#8217;s stock closed at $243.85 on Thursday, down 2.62% for the day. In after-hours trading, the stock rose 0.057%. Over the past year, Apple has seen a significant increase, rising by 31.36%, according to <a href="https://pro.benzinga.com/dashboard">data from Benzinga Pro</a>.
Read Next: 
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<li><a href="https://www.benzinga.com/government/regulations/25/01/42779998/6th-circuit-strikes-down-fcc-net-neutrality-rules-in-blow-to-biden-administrations-internet-regulation-agenda">Biden-Era Net Neutrality Rules Overturned By Federal Appeals Court: What It Means For Net Freedom, Cybersecurity And Consumers</a></li>
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Image Via Shutterstock 
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Equities

Global

Apple Settles $95 Million Lawsuit Over Siri Privacy Violations: Here's The Amount Affected Users Will Receive

Bettors on the cryptocurrency-based prediction market Polymarket eyed a strong possibility that a new country would switch to the "Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) Standard" this year.
What happened: A new contract titled, "Will a new country buy Bitcoin in 2025?" went live on the Polygon (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">POL</a>)-based platform on New Year's Day, with odds in favor jumping past 75% as of this writing.
As per rules, the market will resolve to "Yes" if any sovereign U.N. member buys the apex cryptocurrency for the first time before Dec. 31. As of this writing, over $40,000 has been wagered on this bet.
Polymarket's official X handle posted the contract with the caption, "Who will follow in Nayib Bukele's footsteps?" referring to the <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42740881/can-bitcoin-as-legal-tender-reshape-a-nations-economy-lessons-from-el-salvador">pioneering Bitcoin embrace </a>of El Salvador. The post was reshared by Bukele.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">There&#39;s a 75% chance a new country buys Bitcoin this year. Who will follow in <a href="https://twitter.com/nayibbukele?ref_src=twsrc%5Etfw">@nayibbukele</a>&#39;s footsteps? <a href="https://t.co/MM6fQJRMUc">pic.twitter.com/MM6fQJRMUc</a>
&mdash; Polymarket (@Polymarket) <a href="https://twitter.com/Polymarket/status/1874849664425767267?ref_src=twsrc%5Etfw">January 2, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also:<a href="https://www.benzinga.com/24/12/42735744/pharma-bro-martin-shkreli-predicts-doom-for-michael-saylors-microstrategy-as-stock-dips-below-300-in-after-hours-trading"> &#8216;Pharma Bro&#8217; Martin Shkreli Predicts Liquidation Doom For MicroStrategy Amid Fall Below $300, Says Bitcoin Will Hit $250K Without Michael Saylor</a>
Why It Matters: El Salvador was indeed the first country to buy Bitcoin as a treasury reserve asset back in 2021, in what was seen as an audacious move with regards to fiscal policy. The country has adopted a plan <a href="https://www.benzinga.com/markets/cryptocurrency/24/03/37763988/pro-bitcoin-president-nayib-bukele-says-el-salvador-will-purchase-btc-daily-until-king-cry">to buy one Bitcoin every day</a>, until it becomes unaffordable with fiat currencies.
The Central American nation currently sits on a stockpile of 6,005 BTCs, worth nearly $582 million.&nbsp;
The list is dominated by bigger countries like the U.S., China, and the UK, although none of them treat Bitcoin as a strategic reserve asset.
As for the U.S., expectations have run high after Donald Trump's victory, who pledged to establish a <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42720168/will-trump-administration-sell-gold-to-buy-bitcoin-for-strategic-reserve-in-2025-analyst-s">national Bitcoin stockpile</a> during the election campaign. As of this writing, the <a href="https://polymarket.com/event/us-national-bitcoin-reserve-in-2025/us-national-bitcoin-reserve-in-2025?tid=1735875200334">odds </a>of the U.S. establishing a reserve in 2025 were 38% on Polymarket.
The U.S. government holds 198,109 Bitcoins in asset forfeiture funds, <a href="https://intel.arkm.com/explorer/entity/usg">according </a>to latest data analytics firm, Arkham Intelligence
Price Action: At the time of writing, Bitcoin was exchanging hands at $96,815.55, up 1.99% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>.
Read Next:&nbsp;
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/01/42758291/elon-musks-return-to-original-x-avatar-causes-coin-themed-on-kekius-maximus-to-crash-90-frog-themed-pepe-slips-as-well">Elon Musk&#8217;s Return To Original X Avatar Causes Coin Themed On &#8216;Kekius Maximus&#8217; To Crash 90% — Frog-Themed PEPE Slips As Well</a></li>
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$POL

Bitcoin Adoption By Another Nation? Polymarket Shows 75% Odds Of New Country Following El Salvador's Path In 2025

Mexican authorities have imposed a 19% tariff on goods imported via courier from China, affecting popular online retailers Shein and PDD Holdings Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PDD#NASDAQ">PDD</a>) Temu, <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39708215/amazon-vs-temu-shein-tiktok-shop-whos-winning-the-us-e-commerce-battle">rivals to</a> Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>).
What Happened: This tariff, effective Wednesday, targets countries without relevant international treaties with Mexico, <a href="https://asia.nikkei.com/Economy/Trade-war/Temu-and-Shein-face-fallout-from-Mexico-s-new-tariff">reported</a> Nikkei Asia.
For imports from the U.S. and Canada, which are part of the U.S.-Mexico-Canada Agreement or USMCA, a 17% tariff will apply to goods priced between $50 and $117.
Previously, such small package imports were not subject to tariffs, according to Mexico&#8217;s Tax Administration Service.
See Also: <a href="https://www.benzinga.com/tech/24/12/42718022/days-after-key-nvidia-supplier-warned-of-ai-spending-slowdown-another-nvda-partner-considers-accelerating-expansion-to-meet-growing-demand?itm_source=parsely-api">Days After Key Nvidia Supplier Warned Of AI Spending Slowdown, Another NVDA Partner Considers Accelerating Expansion To Meet Growing Demand</a>
With inflation in Mexico above 4%, Chinese retailers have gained traction by offering low-cost products, partly due to reduced shipping and handling expenses.
Temu and Shein have expanded by selling Chinese-made items in markets with higher prices, leveraging de minimis exemptions that waive tariffs for packages below certain values, the report noted.
Why It Matters: The new tariff may signal a message to President-elect Donald Trump, who has criticized Mexico&#8217;s openness to Chinese imports.
Following Trump&#8217;s election, Mexico, under President Claudia Sheinbaum, has taken stricter measures against Chinese goods, including raids on suspected illegal imports.
Last year, Trump announced plans to impose a 25% tariff on all products from Mexico and Canada, <a href="https://www.benzinga.com/24/11/42178994/trump-says-he-will-impose-25-tariffs-on-canada-mexico-on-first-day-of-office-and-extra-tariffs-on-china-until-they-pay-attention">citing concerns over</a> border security and illegal immigration. He also plans to increase tariffs on Chinese imports by 10% to address the flow of fentanyl into the U.S.
Economists have warned that Trump&#8217;s proposed tariffs could <a href="https://www.benzinga.com/personal-finance/24/12/42367505/economists-warn-trumps-tariffs-on-canada-mexico-and-china-could-hurt-your-budget-more-than-help-it">lead to higher costs</a> for American households, particularly on essential items like groceries, housing, and cars.
Photo via Shutterstock
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Government

Regulations

Media

AMZN

Citigourp Global Markets 2% Protected Notes Linked To The Djia

Amazon's Chinese Rivals Temu And Shein Got Hit Hard By Tariffs In This Country, Is It A Sign Of Things To Come Under Trump?

Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO Elon Musk said on Thursday that the company will put the Cybertruck that was involved in an <a href="https://www.benzinga.com/general/entertainment/25/01/42757028/tesla-cybertruck-ignites-outside-trump-international-hotel-in-las-vegas">explosion outside the Trump International Hotel </a>on New Year's Day back on the road after repairs.
What Happened: &#8220;Once we get this Cybertruck back to Tesla, we'll buff out the scratches and get it back on the road,&#8221; Musk said in a post on social media platform X while adding that neither the vehicle battery pack nor its tires were damaged as a result of the explosion. 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The battery pack never even caught fire and the tires are still inflated! Once we get this Cybertruck back to Tesla, we'll buff out the scratches and get it back on the road.
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1874923549745627610?ref_src=twsrc%5Etfw">January 2, 2025</a></blockquote>
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On Wednesday morning, a Tesla Cybertruck exploded outside the Trump International Hotel. The only occupant of the vehicle, believed to be 37-year-old Matthew Livelsberger, died in the incident and several others sustained injuries. 
Why It Matters: According to police officials, the vehicle occupant rented the vehicle on Dec. 28 and died of a self-inflicted gunshot wound before the explosion. The police also recovered firearms, fireworks, and gas canisters from the vehicle. An investigation into the motive behind the incident is ongoing. 
Musk confirmed on the day of the explosion that it was caused by &#8220;fireworks and/ or a bomb&#8221; in the <a href="https://www.benzinga.com/tech/25/01/42757901/elon-musk-fireworks-or-explosive-device-caused-fatal-cybertruck-incident-at-las-vegas-trump-hotel-vehicle-was-rented">truck bed of the rented Cybertruck</a> and is unrelated to the vehicle.
&#8220;All vehicle telemetry was positive at the time of the explosion,&#8221; Musk then said.
Image via Shutterstock
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>
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</ul>

Tesla Will Put Cybertruck Involved In Explosion At Trump Hotel Back On Road, Says Elon Musk: 'We'll Buff Out The Scratches'

On Thursday, the U.S. Court of Appeals for the 6th Circuit struck down the Federal Communications Commission&#8217;s net neutrality rules.
What Happened: This decision represents a major policy win for Republicans and poses a challenge to the Joe Biden administration&#8217;s internet regulation agenda.
Democrats have been advocating for stricter controls akin to those on traditional telephone networks, while Republicans favor a more relaxed approach.
The 6th Circuit judges referenced a Supreme Court ruling from June that struck down the Chevron deference principle, enabling them to question the FCC&#8217;s authority. Chevron deference refers to the flexibility federal judges grant agencies in interpreting the statutes they oversee when disputes occur.
See Also: <a href="https://www.benzinga.com/tech/24/12/42718022/days-after-key-nvidia-supplier-warned-of-ai-spending-slowdown-another-nvda-partner-considers-accelerating-expansion-to-meet-growing-demand?itm_source=parsely-api">Days After Key Nvidia Supplier Warned Of AI Spending Slowdown, Another NVDA Partner Considers Accelerating Expansion To Meet Growing Demand</a>
The court argued that internet service providers are not simply &#8220;dumb pipes&#8221; and should not be regulated like utilities.
FCC chairwoman Jessica Rosenworcel has called on Congress to legislate open internet principles.
Brendan Carr, President-elect Donald Trump-appointed FCC chairman, praised the court&#8217;s decision and promised further deregulatory actions.
"The work to unwind the Biden Administration's regulatory overreach will continue," he said, <a href="https://www.washingtonpost.com/technology/2025/01/02/net-neutrality-fcc-sixth-circuit-strike-down/">reported</a> The Washington Post.
Subscribe to the <a href="https://bztechtrends.beehiiv.com/subscribe">Benzinga Tech Trends newsletter</a> to get all the latest tech developments delivered to your inbox.
Why It Matters: Net neutrality is based on the <a href="https://www.benzinga.com/general/politics/17/12/10865684/survey-heres-how-americans-feel-about-net-neutrality">principle that internet service providers</a> like Comcast Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMCSA#NASDAQ">CMCSA</a>), AT&amp;T Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/T#NYSE">T</a>), and Verizon Communications (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VZ#NYSE">VZ</a>) are required to treat all internet traffic equally, ensuring uniform speed and access, no matter which company is behind the content.
Supporters of net neutrality argue that these rules are crucial to prevent internet service providers from abusing their power, such as throttling access to certain websites.
Critics, however, say there&#8217;s little evidence of such discrimination and warn that increased regulation could hinder innovation.
Previously, the Computer &amp; Communications Industry Association, which counts Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), 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>), and Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) among its members, supported the reinstatement of the rules, stating that they are necessary to maintain open internet access.
Price Action: According to <a href="https://benzinga.grsm.io/lxquj26b2sag">data from Benzinga Pro</a>, Comcast&#8217;s stock dropped 0.29% on Thursday, while AT&amp;T rose by 0.26% and Verizon increased by 0.55%.
Check out more of Benzinga&#8217;s Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech">following this link</a>.
Image via Flickr
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Legal

CMCSA

Biden-Era Net Neutrality Rules Overturned By Federal Appeals Court: What It Means For Net Freedom, Cybersecurity And Consumers

Cryptocurrency analyst James Van Straten expressed skepticism on Thursday over the immediate announcement of a Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) strategic reserve on Day 1 of Donald Trump&#8217;s office.
What Happened: Van Straten ruled out the possibility of Trump issuing an executive order establishing a Bitcoin reserve, <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42505162/trump-reportedly-considering-executive-order-to-establish-strategic-bitcoin-reserve">contrary to previous reports.</a>
&#8220;I don&#8217;t&nbsp;see Donald Trump announcing a&nbsp;BTC reserve via an executive&nbsp;order on Day 1 or&nbsp;in the near term,&#8221; he wrote on X. 
Van Straten added that Trump, who is pro-Bitcoin, would likely buy in the background instead of making a public announcement. &#8220;No advantage announcing to the world about a BTC reserve as the price will just run away from him. He will just buy in the background.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I don&#39;t see Donald Trump announcing a <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> reserve via an executive order on Day 1 or in the near-term. He is already pro BTC. No advantage announcing to the world about a <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> reserve as the price will just run away from him. He will just buy in the background. Most likely,…
&mdash; James Van Straten (@btcjvs) <a href="https://twitter.com/btcjvs/status/1874785633870225408?ref_src=twsrc%5Etfw">January 2, 2025</a></blockquote>
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The most likely scenario was Trump restricting the sale of the seized Bitcoins held by the U.S. government, Van Straten said. 
As of this writing, the government holds 198,109 Bitcoins in asset forfeiture funds,&nbsp;<a href="https://intel.arkm.com/explorer/entity/usg" target="_blank" rel="noreferrer noopener">according&nbsp;</a>to analytics firm Arkham Intelligence.
See Also:&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/25/01/42778468/congressman-buys-more-ski-mask-dog-coin-will-meme-coin-hit-new-all-time-highs-on-latest-disclosure">Congressman Buys More Ski Mask Dog Coin: Will Meme Coin Hit New All-Time-Highs On Latest Disclosure?</a>
Why It Matters: Van Straten&#8217;s views aligned with those of analysts <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42720168/will-trump-administration-sell-gold-to-buy-bitcoin-for-strategic-reserve-in-2025-analyst-s">with whom Benzinga spoke recently</a>.
Johnny Gabriele, Head Analyst of Blockchain Economics and AI Integration at&nbsp;The Lifted Initiative, said that his money was on the U.S. not selling the Bitcoin it currently has and calling that Bitcoin strategic reserve.
These opinions come in the wake of speculation that Trump might <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42480856/donald-trump-pledges-to-do-something-great-with-crypto-heres-what-hes-done-so-far">create a national Bitcoin stockpile</a> as promised in his election campaign. 
Trump has vowed to "do something great with crypto" when he was asked about a strategic reserve consisting of the leading cryptocurrency. 
A bill has already been proposed by Sen. Cynthia Lummis (R-Wy.), also called the BITCOIN Act, which advocates<a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42080839/cynthia-lummis-says-strategic-bitcoin-reserve-could-take-shape-soon-after-trump-raises-his-hand-and-is-sworn-in" target="_blank" rel="noreferrer noopener"> the purchase of 1 million Bitcoin over five years</a> by the Treasury Department, with no selling or auctioning for a minimum of 20 years.
Price Action: At the time of writing, Bitcoin was exchanging hands at $97,181.82, up 2.46% 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.." target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>. 
Image via Flickr
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Politics

Trump Won't Announce Strategic Bitcoin Reserve Via Executive Order, Says Analyst: 'He Would Likely Buy BTC In The Background'

Major U.S. indices ended Thursday in the red with the Dow Jones Industrial Average declining 0.4% at 42,392.27 and the S&amp;P 500 down 0.2% at 5,868.55. The tech-heavy Nasdaq finished the day lower by almost 0.2% at 19,280.79.
These are the top stocks that gained the attention of retail traders and investors throughout the day:
Carvana Co.
Carvana&#8217;s stock saw a decline of 1.87%, closing at $199.56, after hitting an intraday high of $212.89 and a low of $186.86. The stock remains below its 52-week high of $263.61 but well above its low of $40.21. Hindenburg Research announced a <a href="https://www.benzinga.com/25/01/42769626/hindenburg-shorts-carvana-stock-claims-user-car-retailers-turnaround-is-a-mirage">short position against Carvana</a>, labeling its recent turnaround as a &#8220;mirage.&#8221; Despite this, shares have been on the rise, fueled by optimism that the worst might be over for the company.
Unity Software Inc.
Unity Software&#8217;s shares rose by 9.08%, closing at $24.51. The stock reached an intraday high of $26.08 and a low of $23.36. Its 52-week high stands at $39.29, with a low of $13.90. Keith Gill, known as &#8220;Roaring Kitty,&#8221; <a href="https://www.benzinga.com/markets/equities/25/01/42758021/roaring-kitty-keith-gill-sparks-speculation-with-rick-james-themed-post-on-x-gamestop-chewy-shares-in-focus">sparked speculation</a> with a Rick James-themed post, leading to significant market movements, including a surge in Unity&#8217;s stock.
See Also:&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/25/01/42758665/peter-thiels-bubble-theory-gains-relevance-as-bitcoin-hovers-around-95k-extremely-hard-to-define?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Peter Thiel&#8217;s Bubble Theory Gains Relevance As Bitcoin Hovers Around $95K: &#8216;Extremely Hard To Define&#8217;</a>
SuperCom, Ltd.
SuperCom&#8217;s stock skyrocketed by 59.34%, closing at $7.68. It reached an intraday high of $10.80 and a low of $5.11. The stock&#8217;s 52-week high is $10.90, with a low of $2.55. The company announced <a href="https://www.benzinga.com/news/contracts/25/01/42768377/why-is-supercom-stock-jumping-around-100-on-thursday">new contracts</a> with major agencies in Kentucky, boosting investor confidence in its advanced public safety technologies.
Rigetti Computing Inc.
Rigetti Computing shares surged by 31.06%, closing at $20. The stock reached its 52-week high of $20 during the day, with a low of $15.30. The company has gained attention due to the release of its <a href="https://www.benzinga.com/news/25/01/42768870/whats-going-on-with-rigetti-computing-rgti-stock">84-qubit Ankaa-3 quantum computer</a>, which features improved gate fidelities and reduced error rates, crucial for advancing quantum computing applications.
Tesla Inc.
Tesla&#8217;s stock fell by 6.08%, closing at $379.28, after reaching an intraday high of $392.73 and a low of $373.04. The stock is below its 52-week high of $488.54 but significantly above its low of $138.80. Analysts are divided over Tesla&#8217;s <a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/01/42777950/teslas-first-sales-drop-splits-wall-street-2025-will-be-the-prove-it-year">fourth-quarter delivery figures</a>, which missed expectations, making 2025 a crucial year for the company.
Prepare for the day&#8217;s trading <a href="https://editorial.benzinga.com/wp-admin/%E2%80%9CPremarket">with top premarket movers and news</a> by Benzinga.
Photo Courtesy: Shutterstock.com
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

CVNA

RGTI

SPCB

Carvana, Unity Software, SuperCom, Rigetti Computing, Tesla: Why These 5 Stocks Are On Investors' Radars Today

Tesla Inc.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) <a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/01/42777950/teslas-first-sales-drop-splits-wall-street-2025-will-be-the-prove-it-year">latest delivery miss</a> has intensified debate among analysts about the company&#8217;s autonomous driving and robotaxi ambitions, with sharp disagreement over its 2025 outlook.
What Happened: James Thorne, Chief Market Strategist at Wellington-Altus, remains bullish despite Tesla&#8217;s fourth-quarter deliveries falling short of expectations. &#8220;My long term thesis for 2025 anchors off robots, Robotaxi, and autonomy,&#8221; Thorne posted on X, dismissing current market reaction as noise while maintaining his view of Tesla reaching $2 trillion valuation by 2025.
GLJ Research CEO Gordon Johnson strongly countered the optimism surrounding Tesla&#8217;s Optimus robot, stating, &#8220;They&#8217;ll sell approximately 0.00 robots in 2025. They are years behind the competition.&#8221; Johnson went on to compare Tesla&#8217;s human-controlled robots to outdated technology from &#8220;1980s Chuck E. Cheese restaurants.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">You're 100% wrong. They'll sell approximately 0.00 robots in 2025. They are yrs behind the completion. Human-controlled robots (the ones shown at $TSLA's "FSD day") are tech from 1980s Chucky Cheese restaurants.
&mdash; Gordon Johnson (@GordonJohnson19) <a href="https://twitter.com/GordonJohnson19/status/1874848392653980115?ref_src=twsrc%5Etfw">January 2, 2025</a></blockquote>
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Gary Black of The Future Fund LLC outlined several potential catalysts, including a new $25,000-$30,000 vehicle launch in the first half of 2025. Black, maintaining a $380 price target, projects Tesla reaching 8.1 million vehicle sales by 2030, representing an 18% global EV market share.
However, Black cautioned about risks, particularly the potential elimination of the $7,500 EV tax credit, citing significant sales declines in France and Germany after similar credit removals.
&#8220;We estimate 4Q inventory represented approx 12 days of sales outstanding,&#8221; Black wrote on X. 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24TSLA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TSLA</a> posted 4Q deliveries of 495.6K +2.3% YoY vs WS consensus of 506.8K. FY'2024 deliveries were 1,789.2K -1.1% YoY. 4Q production was 459.4K. We estimate 4Q inventory represented approx 12 days of sales outstanding. TSLA deployed 11.1 GWh of energy storage products in 4Q,… <a href="https://t.co/4QWe3MiuQn">pic.twitter.com/4QWe3MiuQn</a>
&mdash; Gary Black (@garyblack00) <a href="https://twitter.com/garyblack00/status/1874821846031376449?ref_src=twsrc%5Etfw">January 2, 2025</a></blockquote>
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">With <a href="https://twitter.com/search?q=%24TSLA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TSLA</a> now back below my $380 price target I thought it might be helpful to review positive and negative catalysts 6-12 months out. Near-term TSLA positive catalysts include: 1/ new $25K-$30K vehicle to be launched in 1H, which we believe will introduce a new form factor… <a href="https://t.co/iRohFENT3A">pic.twitter.com/iRohFENT3A</a>
&mdash; Gary Black (@garyblack00) <a href="https://twitter.com/garyblack00/status/1874885161516515770?ref_src=twsrc%5Etfw">January 2, 2025</a></blockquote>
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The debate comes as Tesla <a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/01/42777950/teslas-first-sales-drop-splits-wall-street-2025-will-be-the-prove-it-year">reported 495,570 deliveries in the fourth quarter</a>, missing analyst estimates of 506,763 and marking its first annual sales decline. Tesla shares dropped 6% to $379.28 following the news, though the stock maintained a roughly 62% gain for 2024.
See Also: <a href="https://www.benzinga.com/25/01/42779624/bernie-sanders-says-elon-musk-wrong-on-tech-guest-worker-program-h1-b-visa-purpose-is-to-replace-good-paying-american-jobs">Bernie Sanders Says Elon Musk Wrong On Tech Guest Worker Program: H1-B Visa Purpose Is To &#8216;Replace Good-Paying American Jobs&#8217;</a>
Why It Matters: The sales disappointment comes as Tesla faces growing scrutiny over its Full Self-Driving technology. Truist analyst William Stein recently tested FSD v13, noting it required no interventions during a 15-mile trip but showed concerning behaviors including <a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/01/42772702/tesla-analyst-says-fsd-test-drive-shows-imperfections-not-ready-for-prime-time-yet">failure to yield to pedestrians</a>.
Gene Munster of Deepwater Asset Management suggests 2025 will be crucial for Tesla&#8217;s growth trajectory. &#8220;While I&#8217;m bracing for a further pullback going into the Jan. 29 earnings, I continue to believe shares are undervalued long-term,&#8221; Munster stated.
Price Action: Tesla shares fell 6.08% to $379.28 on Thursday, but rose 1.03% in after-hours trading. The stock gained roughly 62% in 2024, trading between $138.80 and $488.54, according to <a href="https://pro.benzinga.com/dashboard">data from Benzinga Pro</a>.
Tesla has a <a href="https://www.benzinga.com/quote/TSLA/analyst-ratings">consensus price target</a> of $284.62 from 33 analysts, with a high of $515 and a low of $24.86. The three most recent ratings—Truist Securities, Baird, and Mizuho—average $451.67, suggesting a 17.87% upside.
<figure class="wp-block-image aligncenter size-large is-resized"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/02203505/Screenshot-2025-01-03-at-7.04.30%E2%80%AFAM-1024x378.png" alt="" class="wp-image-716182" style="width:683px;height:auto" /></figure>
Read Next: <a href="https://www.benzinga.com/news/25/01/42778876/ryan-reynolds-sold-2-companies-for-2-billion-in-just-4-years-but-says-hes-not-an-expert-if-i-ran-the-company-for-real-itd-be-on-fire">Ryan Reynolds Sold 2 Companies For $2 Billion In Just 4 Years But Says He&#8217;s Not An Expert – &#8216;If I Ran The Company For Real, It&#8217;d Be On Fire&#8217;</a>
Image via Shutterstock
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Tesla Delivery Miss Fuels Heated Debate On Autonomy, Robots: Gordon Johnson Compares Optimus With 1980s Chucky Cheese Tech

President Joe Biden is expected to announce his decision on Nippon Steel&#8216;s (OTC:<a class="ticker" href="https://www.benzinga.com/stock/NPSCY#OTC">NPSCY</a>)&nbsp; $14.9 billion acquisition of United States Steel Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/X#NYSE">X</a>) as soon as Friday, despite previously expressing opposition to foreign ownership of the iconic American steelmaker.
In a last-minute effort to secure approval, Nippon Steel proposed giving the U.S. government direct veto power over production changes at U.S. Steel&#8217;s facilities, <a href="https://www.cbsnews.com/news/biden-to-announce-decision-us-steel-nippon-as-early-as-friday/">reported</a> CBS News on Thursday, citing sources.
The Japanese steelmaker also offered a 10-year guarantee maintaining production levels at mills across six states, subject to Committee on Foreign Investment approval.
While key CFIUS members including the Justice, Treasury, and State Departments support the deal, U.S. Trade Representative Katherine Tai has raised labor-related concerns. Sources according to the report indicate U.S. Steel may pursue legal action if Biden blocks the acquisition, potentially targeting the administration and rival Cleveland-Cliffs Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLF#NYSE">CLF</a>).
Price Action: U.S. Steel shares closed at $32.60 on Thursday, down 4.09%, before recovering 1.38% in after-hours trading, according to <a href="https://www.benzinga.com/pro/">data from Benzinga Pro</a>. Nippon Steel shares were seen trading 1.2% higher at JPY 3,182 ($20.23) in Tokyo at the time of writing.
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Image via Shutterstock
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Joe Biden To Decide On Nippon Steel's $14.9B US Steel Acquisition On Friday Amid Veto Offer, Labor Concerns

On Thursday, Nick Clegg announced his resignation as Meta Platforms Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) president of global affairs.
What Happened: Joel Kaplan, a notable Republican and former deputy chief of staff in the George W. Bush administration, will succeed Clegg.
Clegg, who joined Meta in 2018, shared his decision in a Facebook post. Meta CEO Mark Zuckerberg responded to the post expressing gratitude to Clegg for his contributions over the past seven years.
<figure class="wp-block-image size-large"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/02203403/Screenshot-2025-01-03-at-7.03.50%E2%80%AFAM-1024x896.png" alt="" class="wp-image-716178" /><figcaption class="wp-element-caption">Source: Facebook</figcaption></figure>
&#8220;I&#8217;m excited for Joel to step into this role next given his deep experience and insight leading our policy work for many years,&#8221; Zuckerberg added.
See Also: <a href="https://www.benzinga.com/tech/25/01/42758112/jeff-bezos-booby-trapped-his-childhood-home-to-keep-out-pesky-siblings-but-later-convinced-them-to-invest-10000-each-in-amazon-how-did-it-turn-out-for-them?itm_source=parsely-api">Jeff Bezos Booby-Trapped His Childhood Home To Keep Out Pesky Siblings—But Later Convinced Them to Invest</a>
Kaplan, who was Meta&#8217;s vice president of global public policy until now, is known for managing the company&#8217;s interactions with conservative figures. His role at Meta has been contentious, with reports suggesting he influenced policy decisions to favor political allies, <a href="https://www.ft.com/content/e5fea06b-8cd9-45ba-86d9-31ea698e1890">reported</a> Financial Times.
His appointment coincides with Donald Trump&#8217;s return to the White House, as Republicans are poised to control Congress.
Subscribe to the <a href="https://bztechtrends.beehiiv.com/subscribe">Benzinga Tech Trends newsletter</a> to get all the latest tech developments delivered to your inbox.
Why It Matters: The leadership change at Meta comes amid efforts to mend its relationship with Trump. Last month, <a href="https://www.benzinga.com/news/24/12/42454227/months-after-trump-threatened-to-put-mark-zuckerberg-in-prison-meta-ceo-donates-1m-to-president-elects-inaugural-event">Meta donated $1 million</a> to support Trump&#8217;s inauguration events.
Earlier, Clegg acknowledged that Meta might have been <a href="https://www.benzinga.com/24/12/42306998/zuckerberg-seeks-active-role-in-trumps-tech-policies-says-metas-president-of-global-affairs-while-admitting-they-overdid-it-a-bit-during-pandemic-content-crackdown">overly aggressive in moderating</a> pandemic-related content, a step seen as part of Meta&#8217;s strategy to ease tensions with Trump.
In December, Zuckerberg and Trump also <a href="https://www.benzinga.com/markets/24/11/42227958/mark-zuckerberg-and-trump-reportedly-met-at-mar-a-lago">reportedly met</a> at Mar-a-Lago, where they discussed future collaborations.
Price Action: Meta's stock rose 2.34% on Thursday, closing at $599.24. Year-to-date in 2024, Meta shares have surged 73.04%, according to <a href="https://benzinga.grsm.io/lxquj26b2sag">Benzinga Pro data</a>.
Check out more of Benzinga&#8217;s Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech">following this link</a>.
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Image via Shutterstock
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Mark Zuckerberg's Meta Replaces Global Affairs Chief Nick Clegg With Republican Joel Kaplan Ahead Of Trump Inauguration

Leading cryptocurrencies edged higher Thursday as traders returned from New Year's break with bullish optimism.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 7:30 p.m. ET)</td>
</tr>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>+2.06%</td>
<td>$96,841.51</td>
</tr>
<tr>
<td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>+1.93%</td>
<td>$3,450.93</td>
</tr>
<tr>
<td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>+0.77%</td>
<td>$0.3381</td>
</tr>
</tbody>
</table>
</figure>
What Happened: Bitcoin surged to $97,700 late afternoon as upward volatility returned to the market. The leading cryptocurrency lost steam since the $100,000 tease on Christmas, but the latest uptick has taken its weekly gains into the green
Ethereum almost touched $3,500 in the morning before retreating to the $3,500 zone.
The market has high expectations that the incoming Donald Trump administration will bring a <a href="https://www.benzinga.com/markets/cryptocurrency/25/01/42773793/trump-taking-office-could-spell-golden-crypto-era-industry-hopes" target="_blank" rel="noreferrer noopener">golden era</a> for cryptocurrencies.
Cryptocurrency liquidations hit $175 million in the last 24 hours, with nearly $83 million in upside bets getting wiped out.
Bitcoin's Open Interest rose by 0.99%, while Ethereum witnessed higher speculative interest with a 3% jump in funds locked in unsettled derivatives.
The percentage of traders placing long positions on Bitcoin dropped from 62% to 54% in the last 24 hours, according to Long/Short Ratio.
That said, markets became more greedy, according to the Crypto Fear &amp; Greed Index, hinting at a potential surge in buying pressure.
Top Gainers (24-Hours)
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 7:30 p.m. ET)</td>
</tr>
<tr>
<td>Fartcoin (FARTCOIN)</td>
<td>+34.07%</td>
<td>$1.34</td>
</tr>
<tr>
<td>DeXe (DEXE)</td>
<td>+33.02%</td>
<td>$19.79</td>
</tr>
<tr>
<td>SPX6900 (VIRTUAL)</td>
<td>+28.39%</td>
<td>$1.22</td>
</tr>
</tbody>
</table>
</figure>
The global cryptocurrency market capitalization stood at $3.41 trillion, following a spike of 2.52% in the last 24 hours.
Stocks closed in the red in Wall Street's first trading session in 2025. The Dow Jones Industrial Average fell 151.95 points, or 0.36%, to close at 42,392.27. The S&amp;P 500 slipped 0.22%, ending at 5,868.55, while the tech-focused Nasdaq Composite dipped 0.16% to end at 19,280.79.
Cryptocurrency-related stocks rose during Thursday's trading session, with both MicroStrategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) and Coinbase Global, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) closing 3.59% higher.
See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>
Analyst Notes: Influential cryptocurrency analyst Rekt Capital presented their outlook for 2025.
"2025 will likely see the BTC bull market peak and the very beginnings of a brand new bear market," the analyst projected. "The majority of the bear market will take place, however, in 2026."
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">2025 will likely see the <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> Bull Market peak and the very beginnings of a brand new Bear Market The majority of the Bear Market will take place however in 2026 The Bear Market would last some 365+ days and be between -65% to -80% deep<a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> <a href="https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw">#Crypto</a> <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a>
&mdash; Rekt Capital (@rektcapital) <a href="https://twitter.com/rektcapital/status/1874936923611136161?ref_src=twsrc%5Etfw">January 2, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Well-known on-chain analytics firm CryptoQuant stated that the bull market was far from ending, citing on-chain indicators like network fees and miner sell-offs.
"On-chain data suggests the bull market is still intact, and the current phase appears to be a cooling-off period rather than a cycle peak," the firm added. "However, short-term price movements remain unpredictable."
<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">We Are Still in the Midst of a Bull Market "On-chain data suggests the bull market is still intact, and the current phase appears to be a cooling-off period rather than a cycle peak." – By <a href="https://twitter.com/avocado_onchain?ref_src=twsrc%5Etfw">@Avocado_onchain</a> See the data &#x1f447;<a href="https://t.co/HvMD44Lm7e">https://t.co/HvMD44Lm7e</a> <a href="https://t.co/YCSpl0lIHC">pic.twitter.com/YCSpl0lIHC</a>
&mdash; CryptoQuant.com (@cryptoquant_com) <a href="https://twitter.com/cryptoquant_com/status/1874884377815220703?ref_src=twsrc%5Etfw">January 2, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Image via Shutterstock
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$DOGE

COIN

MSTR

Bitcoin, Ethereum, Dogecoin Lift As Traders Anticipate 'Golden Crypto Era' Under Trump: Top Analyst Says 2025 Will See Bull Market Peak

Sen. Bernie Sanders (I-Vt.) took to X on Thursday to challenge Elon Musk&#8217;s endorsement of the H-1B visa program, arguing it exploits foreign workers and undermines American jobs.
What Happened: Sanders posted his disagreement with Musk&#8217;s stance on the H-1B visa program. He argued that the program&#8217;s main function is not to hire top talent, as Musk suggests, but to replace well-paying American jobs with low-wage foreign workers. Sanders stated, &#8220;The cheaper the labor they hire, the more money the billionaires make.&#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">Elon Musk is wrong. The main function of the H-1B visa program is not to hire "the best and the brightest," but rather to replace good-paying American jobs with low-wage indentured servants from abroad. The cheaper the labor they hire, the more money the billionaires make. <a href="https://t.co/Mwz7i9TcSM">pic.twitter.com/Mwz7i9TcSM</a>
&mdash; Bernie Sanders (@SenSanders) <a href="https://twitter.com/SenSanders/status/1874918027982172626?ref_src=twsrc%5Etfw">January 2, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
In a statement attached to his post on X, Sanders noted that the top 30 corporations using the H1-B program laid off at least 85,000 American workers while they hired over 34,000 H1-B guest workers.
&#8220;There are estimates that as many as 33 percent of all new Information Technology jobs in America are being filled by guest workers,&#8221; said Sanders. He cited Census Bureau data to say that millions of Americans with advanced degrees in science, technology, engineering and math are currently not working in related professions.
Giving the specific example of Musk&#8217;s Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), Sanders asked if H1-B jobs are going to the &#8220;best and brightest&#8221; and why Tesla has employed guest workers as associate accountants for as little as $58,000 and associate mechanical engineers for as little as $70,000 a year.
&#8220;If there is really a shortage of skilled tech workers in America, why did Tesla lay-off over 7,500 American workers this year,&#8221; asked Sanders.
Sanders said that the H1-B visa program should only be utilized as a &#8220;very short-term and temporary approach.&#8221; In his statement he also supporter raising the minimum wage for guest workers and allowing them to easily switch jobs. He advocated that corporations be required to aggressively recruit American workers before they can hire from overseas.
Tesla did not immediately respond to <a href="https://pro.benzinga.com/dashboard">Benzinga&#8217;s</a> request for comments.
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Why It Matters: Musk&#8217;s support for the H-1B visa program aligns with President-elect Donald Trump&#8217;s <a href="https://www.benzinga.com/news/24/12/42715951/trump-backs-immigration-visas-musk-praises-his-stance-and-says-rising-tide-lifts-all-boats">backing of the initiative. </a>
&#8220;I have many H-1B visas on my properties. I&#8217;ve been a believer in H-1B. I have used it many times. It&#8217;s a great program,&#8221; said Trump.
This marks a surprising shift from Trump&#8217;s previous administration, which had imposed restrictions on such visas. The tech sector, including influential figures like Department of Government Efficiency co-leads Musk and Vivek Ramaswamy, has <a href="https://www.benzinga.com/government/regulations/24/12/42713690/musk-and-ramaswamy-back-foreign-tech-workers-sparking-rift-in-maga-trump-camp-twitter-firestorm">long championed</a> the H-1B visa program, arguing it enables U.S. companies to hire thousands of foreign engineers and specialists annually. However, this stance has ignited a social media firestorm among Trump&#8217;s far-right base.
Image via Shutterstock
Did You Know?
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

General

Bernie Sanders Says Elon Musk Wrong On Tech Guest Worker Program: H1-B Visa Purpose Is To 'Replace Good-Paying American Jobs'

During his presidential campaign, Donald Trump promised to impose tariffs on certain Chinese imports, such as solar panels. Although economists still debate whether <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/12/42699729/ark-invests-cathie-wood-urges-trumps-incoming-administration-to-implement-retroactive-tax-cuts-for-economic-boost-from-january-1">Trump's tariffs</a> will benefit America's economy, domestic solar producers certainly stand to gain if Trump follows through on his promises. One such company is First Solar.
Although Donald Trump is known to be a big proponent of fossil fuels, aspects of his "America First" policies could spur further development in America's green energy. A recent International Energy Agency (IEA) report shows that solar energy is the only renewable energy technology currently being developed quickly enough to help the world make meaningful progress toward achieving net-zero emission targets by 2050.
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That's good news from a climate-change perspective, but many global circles are concerned about the extent to which Chinese solar production is outpacing that of its international competition. A study from Ember Energy revealed that China's solar panel export volume increased by 34% in 2023 and it now accounts for 80% of the world's solar panel manufacturing.
China's global lead is not an accident. In 2012, China's state energy policy called for a massive investment in renewable energy technology, such as solar panels, lithium-ion batteries and electric cars. The size of that investment is believed to have been hundreds of billions and a decade later, China's dominance of the solar panel industry proves the investment is paying off.
See Also: Unlock the hidden potential of commercial real estate —<a href="https://equitymultiple.com/benzinga?invite=benzinga&amp;utm_campaign=product-promotion-earn&amp;utm_source=yahooFinance&amp;utm_medium=affiliate&amp;utm_content=unlockboost-yahoo"> This platform allows individuals to invest in commercial real estate offering a 12% target yield with a bonus 1% return boost today!</a>
Regardless of how you feel about Donald Trump or his tariffs, having a global rival control 80% of an industry that is key to the world's efforts to combat climate change leaves the United States in a difficult position. For example, if regional tensions over Taiwan should flare up, China could halt the delivery of solar panels to the U.S. and continue selling them to Europe, Africa and the Middle East.
This is where companies like First Solar come into the picture. This Tempe, Arizona-based company focuses on building advanced solar components for large-scale solar operations that public utility companies would build. First Solar has quietly expanded its operational capabilities and manufacturing footprint through the years. Its new facilities in Alabama and Ohio are designed to deliver 12 Gigawatts of power annually.
First Solar had a strong Q3 2024, generating $887 million in revenue (per public filings and Barchart), a year-on-year improvement of nearly 11%. The company's earnings per share (EPS) also jumped by 16% and currently sit at $2.91. The Q4 2024 numbers saw the company miss revenue expectations and lower its 2025 EPS forecast.
Trending: This Jeff Bezos-backed startup will allow you to <a href="https://arrivedhomes.go2cloud.org/aff_c?offer_id=15&amp;aff_id=1006&amp;aff_sub=yahoo&amp;aff_sub2=byerscta100">become a landlord in just 10 minutes, with minimum investments as low as $100 for properties like the Byer House from Stranger Things.</a>
That said, it's worth noting that First Solar is still predicting an EPS of $13-$13.50 in 2025. More importantly, First Solar may not have to wait for Trump's tariffs to increase profits. The United States Department of Commerce recently announced tariffs between 21% and 271% for Chinese solar panels sold through subsidiaries in Vietnam, Cambodia, Thailand and Malaysia.
These tariffs, classified as "antidumping duties," were instituted to keep Chinese-based manufacturers from dumping their massive stockpiles of unused solar panels on non-Chinese companies, who would presumably then sell them to the US. Piper Sandler analyst Kashy Harrison believes First Solar could benefit massively from this development.
According to Benzinga's latest estimates,<a href="https://www.benzinga.com/quote/FSLR"> First Solar stock</a> is trading at $182, but analysts have a near-universal consensus that First Solar is primed for a strong 2025. Kashy Harrison has raised his price estimate to $250 (up from $210) and<a href="https://www.benzinga.com/quote/FSLR/analyst-ratings"> Benzinga's survey of 29 different analysts</a> reveals an even higher consensus price target of $274.38. If First Solar hits those targets, this stock could light up your portfolio with strong profits.
Wondering if your investments can get you to a $5,000,000 nest egg? Speak to a financial advisor today.<a href="https://smartasset.com/retirement/find-a-financial-planner?utm_source=benzinga&amp;utm_campaign=ben&amp;utm_content=y2_5MilNestEgg"> SmartAsset&#8217;s free tool matches you up with up to three vetted financial advisors who serve your area, and you can interview your advisor matches at no cost</a> to decide which one is right for you.
<h2 class="wp-block-heading">Interest Rates Are Falling, But These Yields Aren't Going Anywhere</h2>
Lower interest rates mean some investments won't yield what they did in months past, but you don't have to lose those gains. Certain private market real estate investments are giving retail investors the opportunity to capitalize on these high-yield opportunities.
<a href="https://www.benzinga.com/go/arrived-private-credit-yf">Arrived Home's Private Credit Fund&#8217;s has historically paid an annualized dividend yield of 8.1%&#x2A;</a>, which provides access to a pool of short-term loans backed by residential real estate. The best part? Unlike other private credit funds, <a href="https://www.benzinga.com/go/arrived-private-credit-yf">this one has a minimum investment of only $100.&nbsp;</a>
Looking for fractional real estate investment opportunities? The <a href="https://www.benzinga.com/alternative-investments/real-estate">Benzinga Real Estate Screener</a> features the latest offerings.

This Domestic Solar Stock (FSLR) Could Shine In Your Portfolio If President-elect Donald Trump Imposes Tariffs On Chinese Solar Panels

American Express (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXP#NYSE">AXP</a>) has outperformed the market over the past 5 years by 6.7% on an annualized basis producing an average annual return of 19.32%. Currently, American Express has a market capitalization of $210.23 billion. 
Buying $1000 In AXP: If an investor had bought $1000 of AXP stock 5 years ago, it would be worth $2,405.53 today based on a price of $298.43 for AXP at the time of writing.
<h3>American Express's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1735861508_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

$1000 Invested In This Stock 5 Years Ago Would Be Worth This Much Today

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Although 5% up over one year, the S&amp;P Biotechnology Select Industry Index is down .22% year-to-date. This seems to be a normalization period. Following the investment splurge during the viral scare, the biotech sector experienced the proverbial renaissance. In this context, identifying <a href="https://investorplace.com/industries/healthcare/biotech/">biotech stocks</a> to sell is essential, as some may falter despite the sector&rsquo;s overall growth.



At its peak in February 2021, the index reached $13,513 vs. its current $6,939, dropping 49%. After the Fed&rsquo;s hiking cycle to curtail inflation of own making, biotech companies suffered a wave of restructuring and layoffs. Moreover, the Inflation Reduction Act (IRA) introduced new rules on <a href="https://www.kff.org/medicare/issue-brief/explaining-the-prescription-drug-provisions-in-the-inflation-reduction-act/" target="_blank">how to price drugs,</a> effectively discouraging major investments into new drugs.



In 2024, there is even greater uncertainty about whether the economy will head into a recession or stagflation or whether the Fed will cut rates or keep them up for longer. That bodes ill for the capital-intensive sector chasing down skittish capital. In the meantime, the government picked up the slack as U.S. NIH increased by <a href="https://officeofbudget.od.nih.gov/pdfs/FY23/ics/27%20-OD%20FY%202023%20CJ%20Chapter.pdf" target="_blank">8.3% into 2023.</a>



As of March, 44% of healthcare professionals <a href="https://www.pharmaceutical-technology.com/analyst-comment/biotech-funding-optimism-rises/">relayed optimism</a> about the biotech sector, 12 months ahead, according to GlobalData&rsquo;s Thematic Intelligence report. But as some biotech stocks reap their drug pipeline gains, which ones are more likely to run out of cash?



Let&rsquo;s explore the top three biotech stocks to sell based on their financial outlooks and market performance.



<h2>Rallybio (RLYB)</h2>



<a href="https://investorplace.com/wp-content/uploads/2024/05/rallybio.png"><img width="300" height="174" src="https://investorplace.com/wp-content/uploads/2024/05/rallybio-300x174.png" alt="Rallybio Corporation (RLYB) - Biotech Stocks to Sell"></a>Typical for volatile <a href="https://investorplace.com/stock-types/penny-stocks/">penny stocks,</a> Rallybio (NASDAQ:<a href="https://investorplace.com/stock-quotes/rlyb-stock-quote/">RLYB</a>) rallied to $2.98 mid-April, only to fall down to its present $1.85 per share. But given its 52-week low of $1.23, that is still up 33%. Year-to-date, RLYB stock is down nearly 22%.



The fleeting spike was attributed to the company&rsquo;s partnership with Johnson &amp; Johnson (NYSE:<a href="https://investorplace.com/stock-quotes/jnj-stock-quote/">JNJ</a>) on April 10th, related to new treatments for fetal and neonatal alloimmune thrombocytopenia (FNAIT). In contrast to Rallybio&rsquo;s challenges, <a href="https://tokenist.com/johnson-johnson-jnj-reports-q1-2-71-eps-21-38-b-in-revenue/" target="_blank">J&amp;J&rsquo;s sales rose to $21.4 billion</a> with a 7.7% operational growth, excluding its COVID-19 vaccine impact, and earnings per share increased to $2.71, up 12.4%. That highlighted the financial stability and growth of J&amp;J amidst the same market conditions.



Yet, as Rallybio failed to deliver a single profitable quarter since, its net losses steadily increased. For the fiscal year of 2023, the company <a href="https://investors.rallybio.com/node/8161/html" target="_blank">reported</a> this March that it will &ldquo;continue to incur net losses and negative cash flows in the foreseeable future&rdquo;. In total, Rallybio left the year with $9.4 million in total liabilities vs. equity of $106.2 million (a 37% reduction from 2022).



RLYB&rsquo;s total net loss increased from $66.6 million in 2022 to $74.5 million in 2023. In efforts to treat FNAIT, its novel RLYB212 drug is expected to enter <a href="https://www.clinicaltrialsarena.com/news/rallybio-phase-ii-trial-plans-positive-results/" target="_blank">Phase II trials</a> on pregnant women in the second half of 2024. Unlike Pfizer (NYSE:<a href="https://investorplace.com/stock-quotes/pfe-stock-quote/">PFE</a>), though, the company lacks a wider spectrum of drugs. In turn, this will likely cause only temporary and speculative valuation spikes. 



<h2>Sanofi (SNY)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/08/sny1600-300x169.jpg" alt="Sanofi (SNY) logo on the side of company branch in Germany"><div>Source: nitpicker / Shutterstock.com</div></div>The French Sanofi (NASDAQ:<a href="https://investorplace.com/stock-quotes/sny-stock-quote/">SNY</a>) comes as an ADS exposure to the biotech sector. Unlike biotech penny companies, Sanofi is more diversified, operating across consumer healthcare products, prescription drugs and vaccines. However, it is precisely this generic diversification that makes the company vulnerable to competitors. This vulnerability, highlighted by its recent financial performance and strategic shifts, places Sanofi on the watchlist of biotech stocks to sell, as investors might consider the risks associated with its restructuring efforts.



Year-to-date, SNY stock flatlined at a 1.5% performance. At the present price level of $50.10, SNY is just 17% above its 52-week low of $42.63 per share. This April, the company confirmed its prior <a href="https://www.fiercebiotech.com/biotech/sanofi-shrinks-igm-antibody-partnership-amid-pipeline-reprioritization">announcement</a> to begin a &ldquo;full pipeline reprioritization project&rdquo;. That consists of cutting the workforce and establishing a &ldquo;simplified R&amp;D structure&rdquo;.



Sanofi&rsquo;s big bet is to pull back on research and invest more in deployment. Specifically, to ramp up Phase 3 trials by 50% over the next two years. The problem is that not only is Sanofi in competition with Pfizer, Johnson &amp; Johnson, Novartis (NYSE:<a href="https://investorplace.com/stock-quotes/nvs-stock-quote/">NVS</a>) and Merck (NYSE:<a href="https://investorplace.com/stock-quotes/mrk-stock-quote/">MRK</a>) but also with small to medium-sized enterprises (SMEs).



More lean and agile, SMEs for novel therapies have mustered a significant resurgence in Europe. Compared to the 40% drug approval rate in 2016, it skyrocketed to an 89% success rate in 2021, per European Medicines Agency (EMA) <a href="https://www.ema.europa.eu/en/news/success-rate-marketing-authorisation-applications-smes-doubles-between-2016-2020#:~:text=Since%202016,%20the%20success%20rate,number%20had%20increased%20to%2089%25." target="_blank">reporting.</a> This dynamic eventually prompted Sanofi to completely revamp its drug pipeline.



At the end of April, Sanofi delivered its <a href="https://www.sanofi.com/en/media-room/press-releases/2024/2024-04-25-05-30-00-2869276" target="_blank">Q1 2024 earnings,</a> showing a 17.8% decline in net income. Moreover, the company&rsquo;s free cash flow decreased by 120.1%. As Sanofi reprioritizes from oncology to immunology and Pfizer aggressively pushes with the acquisition of Seagen, SNY stock will likely reflect it in the long run.



<h2>BenevolentAI (BAIVF)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/04/pte_biotech_1600-300x169.png" alt="Medical technology network team meeting concept. Doctor hand working smart phone modern digital tablet laptop computer graphics chart interface, sun flare effect photo, PTE"><div>Source: everything possible / Shutterstock.com</div></div>As a cautionary penny stock tale, investors should look at the British BenevolentAI (OTCMKTS:<a href="https://investorplace.com/stock-quotes/baivf-stock-quote/">BAIVF</a>), a prime example of biotech stocks to sell. Riding the ongoing AI hype, the company aims to create an AI-powered drug pipeline to both discover and aid in developing novel treatments.



The problem is that such a powerful AI solution will likely emerge from heavyweights like Meta (NASDAQ:<a href="https://investorplace.com/stock-quotes/meta-stock-quote/">META</a>), Amazon (NASDAQ:<a href="https://investorplace.com/stock-quotes/amzn-stock-quote/">AMZN</a>) or Microsoft (NASDAQ:<a href="https://investorplace.com/stock-quotes/msft-stock-quote/">MSFT</a>), leaning on their costly data centers to train AI models. Seeing the scale of the endeavor, BenevolentAI already started reducing its workforce in May 2023.



Despite collaborations with AstraZeneca (NASDAQ:<a href="https://investorplace.com/stock-quotes/azn-stock-quote/">AZN</a>), Merck and Eli Lilly (NYSE:<a href="https://investorplace.com/stock-quotes/lly-stock-quote/">LLY</a>), the startup is rapidly burning cash. In its March <a href="https://www.benevolent.com/investors/reports-and-presentations/" target="_blank">earnings report</a> for full-year 2023, 2022&rsquo;s net book value of &pound;364.8 million deflated to &pound;112 million. For the year, BenevolentAI delivered a &pound;317.5 million loss, left with nearly halved cash at the bank and in hand of &pound;4.6 million.



When looking at the prospect of these types of companies, investors should seek exposure to bigger players with deeper pockets. Case in point, Amazon launched multiple healthcare layers, from online pharmacies and virtual clinics to telehealth services. Most importantly, AWS is the leading cloud hosting solution for generative AI and ML, for which startups like BenevolentAI rely.



On the date of publication, Shane Neagle did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com <a href="https://protect-us.mimecast.com/s/XtC3C1wq33iErOvYSGOsXg?domain=investorplace.com/">Publishing Guidelines.</a>
<div>Shane Neagle is fascinated by the ways in which technology is poised to disrupt investing. He specializes in fundamental analysis and growth investing.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/05/3-biotech-stocks-to-sell-in-may-before-they-crash-burn/">3 Biotech Stocks to Sell in May Before They Crash &amp; Burn</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

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