Latest news for Bionoid Pharma (OTC:BINP) Stock

Bionoid Pharma Inc is engaged in the production and sale of pain management and healthcare products. Through its subsidiary, the company provides Florella therapeutic magnet, a patented device to help alleviate the pain associated with menstrual cycles.

BIONOID PHARMA INC by Bionoid Pharma Inc.

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Constellation shares are trading higher after the company announced it won $1 billion in combined contracts from the U.S. General Services Administration.

UBS analyst Shaleen Kumar upgrades Wipro (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WIT#NYSE">WIT</a>) from Sell to Neutral.

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UBS Upgrades Wipro to Neutral

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Major indexes are higher, with chip stocks rising to begin 2025.

Nio Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NIO#NYSE">NIO</a>) closed 2024 with a bang, delivering a <a href="https://www.benzinga.com//node/42758569">record-breaking 31,138 vehicles</a> in December — a staggering 72.9% year-over-year jump. 
Quarterly deliveries hit an all-time high of 72,689, while annual deliveries climbed to 221,970, marking a 38.7% surge from the previous year.
Yet, Nio stock&#8217;s technicals paint a less rosy picture.
<figure class="wp-block-image size-full"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent010225&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="629" height="492" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/02104706/Screenshot-2025-01-02-at-9.16.54-PM.png" alt="" class="wp-image-715488" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/02104706/Screenshot-2025-01-02-at-9.16.54-PM.png 629w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/02104706/Screenshot-2025-01-02-at-9.16.54-PM-300x235.png 300w" sizes="(max-width: 629px) 100vw, 629px" /></a></figure>
<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent010225&amp;t=be2bearmibe3na1" target="_blank" rel="noreferrer noopener">Chart created using Benzinga Pro</a>
Nio stock recently formed a dreaded <a href="https://www.benzinga.com/topic/death-cross">Death Cross</a> — a bearish technical signal where the 50-day moving average dips below the 200-day moving average. Despite posting a 7.57% gain during the early hours of trading on Thursday and a 6.59% increase over the past month, NIO stock&#8217;s overall trend remains bleak.
Trading at $4.62, the stock lags behind its medium- and long-term moving averages, signaling persistent selling pressure.
Read Also: <a href="https://www.benzinga.com//node/42761825">EV Price War Heats Up As Chinese Automakers Extend Subsidies: Details</a>
<h2 class="wp-block-heading">A Tale Of Two Trends</h2>
While delivery numbers suggest growth, technical indicators tell a different story. Nio's Relative Strength Index (RSI) sits at 50.32, signaling mild bearish momentum, and the Moving Average Convergence Divergence (MACD) indicator of a negative 0.1 leans bearish. 
These technical signs raise concerns about whether the stock can sustain its recent upward movement or faces further declines.
<h2 class="wp-block-heading">What's Next?</h2>
Nio&#8217;s ambitious plans, including the launch of its executive ET9 model and the Firefly brand in early 2025, aim to fuel long-term growth. 
However, with Nio stock down 44.3% over the past year, investors are looking for a decisive break above key resistance levels to regain confidence.
The Death Cross may signal caution for now, but with delivery momentum and product innovation on its side, Nio could surprise skeptics. For now, the market awaits confirmation of whether bulls or bears will dominate the road ahead.
Read Next: 
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<li><a href="https://www.benzinga.com//node/42767647">Chinese Stocks Drop As Manufacturing Growth Slows And Geopolitical Tensions Hit</a></li>
</ul>
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Nio Death Cross Shadows Record Deliveries: Can Bulls Reclaim The Wheel?

Short seller Hindenburg Research is betting against Carvana Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVNA#NYSE">CVNA</a>) with the stock up more than 300% over the past year. Despite the bearish report, shares are moving higher on Thursday. Here&#8217;s a look at <a href="https://www.benzinga.com/topic/short-sellers">what you need to know</a>.
What To Know: Hindenburg announced a short position against used car retailer Carvana on Thursday in a <a href="https://hindenburgresearch.com/carvana/">report</a> titled, &#8220;Carvana: A Father-Son Accounting Grift For The Ages.&#8221;
The short seller noted that Carvana shares have soared over the past year on hopes that the worst is behind the company after the car seller battled bankruptcy risks in 2022 and 2023.
&#8220;However, our research, including extensive document review and 49 interviews with industry experts, former Carvana employees, competitors and related parties of the company, undertaken over the course of 4 months, shows Carvana's turnaround is a mirage,&#8221; Hindenburg alleged.
Benzinga has reached out to Carvana for comment on the report.
Check This Out: <a href="https://www.benzinga.com/trading-ideas/movers/25/01/42766117/tesla-stock-tumbles-on-q4-deliveries-whats-going-on#google_vignette">Tesla Stock Tumbles On Q4 Deliveries: What&#8217;s Going On?</a>
<a href="http://benzinga.com/quote/cvna">Carvana shares</a> fell about 5% when the report was released, but quickly bounced back. The stock was up more than 3% at last check, according to <a href="http://pro.benzinga.com">Benzinga Pro</a>.
Hindenburg claimed its research uncovered &#8220;accounting manipulation and lax underwriting&#8221; that have &#8220;fueled temporary reported income growth.&#8221; The short seller said it also found $800 million in loan sales to a &#8220;suspected undisclosed related party.&#8221;
Hindenburg went on to highlight recent insider selling, suggesting the company&#8217;s share price is inflated. All findings aside, the short seller believes the stock is &#8220;exorbitantly valued,&#8221; trading with a 845% higher sales multiple than competitors CarMax and AutoNation, and a 754% higher forward earnings multiple. Carvana currently has a forward price-to-earnings multiple of approximately 101, according to <a href="http://pro.benzinga.com">Benzinga Pro</a>.
CVNA Price Action: Carvana shares were up 3.37% at $210.20 at the time of publication Thursday, according to <a href="http://pro.benzinga.com">Benzinga Pro</a>.
Photo: Shutterstock.

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Hindenburg Shorts Carvana Stock, Claims Used Car Retailer's Turnaround Is A 'Mirage'

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Trading Halt: Halt status updated at 11:50:00 AM ET: Quotation Resumption: IPO Security - Released for Quotation

Boeing shares are trading lower. The recent crash of a JejuAir flight and China's new trade controls may be weighing on shares.

Goldman Sachs analyst Gabriela Borges maintains Fortinet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTNT#NASDAQ">FTNT</a>) with a Buy and raises the price target from $100 to $114.

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Goldman Sachs Maintains Buy on Fortinet, Raises Price Target to $114

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<li>TSLA</li>
<li>NVDA</li>
<li>LUNR</li>
<li>AAPL</li>
<li>MSTR</li>
<li>AMD</li>
<li>CVNA</li>
<li>QQQ</li>
<li>RKLB</li>
<li>GOOG</li>
</ul>
Data from <a href="https://swaggystocks.com/dashboard/wallstreetbets/ticker-sentiment">https://swaggystocks.com/dashboard/wallstreetbets/ticker-sentiment</a>
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Top 10 Trending Stocks On WallStreetBets As Of January 2, 2025 (Via Swaggy Stocks)

Shares of Kopin Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KOPN#NASDAQ">KOPN</a>) were <a href="https://www.benzinga.com/quote/KOPN">climbing in early trading on Thursday</a>.
The provider of advanced microdisplays for military applications is poised to benefit from the continued growth of defense budgets across the U.S. and NATO countries, according to Canaccord Genuity.
<a href="https://www.benzinga.com/analyst-stock-ratings/analyst/619bb1b28a6ef800019b5d2d/george-gianarikas">Analyst George Gianarikas</a> initiated coverage of Kopin with a Buy rating and a price target of $2.
The Kopin Thesis: While the defense market contributes around 80% of revenues, the company is exploring new growth avenues in the civilian market, Gianarikas said in the initiation note.
Check out <a href="https://www.benzinga.com/analyst-stock-ratings">other analyst stock ratings</a>.
Kopin could benefit from the rising interest in augmented reality/virtual reality (AR/VR) technologies, which offers "promising prospects" in consumer electronics and medical applications, he added.
"CEO Michael Murray (started September 2022) continues to improve operations, resulting in a potential turn to profitability in 2025," the analyst wrote. "We further see optionality as the company could look to expand either through targeted acquisitions or as an acquisition target itself," he further stated.
Price Action: Shares of Kopin had risen by 4.41% to $1.42 at the time of publication on Thursday.
Read More: <a href="https://www.benzinga.com/24/12/42535789/quicklogic-is-poised-to-benefit-from-cold-war-20-weaponization-of-outer-space-says-bullish-analyst">QuickLogic Analyst Sees &#8216;Cold War 2.0&#8217; As Growth Catalyst</a>
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KOPN

Kopin Explores New Growth Avenues Beyond Defense, Poised To Turn Profitable In 2025

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IDAI

Trust Stamp To Implement 1-For-15 Reverse Stock Split Effective January 6, 2025

Boston Scientific (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BSX#NYSE">BSX</a>) has outperformed the market over the past 10 years by 9.12% on an annualized basis producing an average annual return of 20.37%. Currently, Boston Scientific has a market capitalization of $131.90 billion. 
Buying $1000 In BSX: If an investor had bought $1000 of BSX stock 10 years ago, it would be worth $6,537.96 today based on a price of $89.57 for BSX at the time of writing.
<h3>Boston Scientific's Performance Over Last 10 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1735836310_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.

Here's How Much $1000 Invested In Boston Scientific 10 Years Ago Would Be Worth Today

Jefferies analyst David Katz maintains Sunstone Hotel Invts (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHO#NYSE">SHO</a>) with a Hold and raises the price target from $10 to $12.

Jefferies Maintains Hold on Sunstone Hotel Invts, Raises Price Target to $12

BlackBerry Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BB#NYSE">BB</a>) shares are<a target="_blank" href="https://www.benzinga.com/movers" rel="noreferrer noopener"> trading higher on Thursday.</a>
The company has announced a rebranding of its division, previously known as &#8216;BlackBerry IoT,&#8217; renaming it &#8216;QNX&#8217; and relaunching the brand to strengthen its presence in the automotive and <a target="_blank" href="https://www.benzinga.com/pressreleases/25/01/ac42763883/blackberry-unveils-strategic-relaunch-of-qnx-brand-to-reinforce-leadership-in-automotive-and-gene" rel="noreferrer noopener">embedded industries.</a>
The move, which stems from feedback from customers, partners, and employees, marks a milestone in QNX&#8217;s history, emphasizing its role in powering next-generation Software-Defined Vehicles and mission-critical systems.
Acquired by BlackBerry in 2010, QNX has become a prominent player in real-time operating systems. In the last fiscal year, QNX launched the QNX SDP 8.0, a scalable foundation for next-generation automotive and IoT systems, alongside QNX Sound, an audio innovation platform for SDVs, and QNX Everywhere, an initiative designed to spur a more open development environment for QNX technologies.
John J. Giamatteo, CEO of BlackBerry, highlighted that this rebranding is part of the company&#8217;s strategy to increase visibility and leadership in these industries, with a focus on growth and innovation.
Also Read: <a target="_blank" href="https://www.benzinga.com/25/01/42763048/powering-up-charging-tesla-to-deploy-first-v4-superchargers-in-china-by-2025" rel="noreferrer noopener">Tesla To Deploy First V4 Superchargers In China By 2025: Report</a>
QNX technology is already integrated into over 255 million vehicles worldwide, as well as critical systems in healthcare, industrial controls, robotics, and more.
&#8220;BlackBerry is at an inflection point and QNX is well positioned for the next 10 years as the demand for advanced hybrid cloud/edge computing capabilities becomes crucial for driving a software-defined future. The investments we have made over the last three years have set us on a well-defined path to capitalize on these trends,&#8221; said Mattias Eriksson, President, QNX.
To accompany the rebranding, BlackBerry unveiled a refreshed logo, website, and visual identity, which will be showcased at CES 2025 in Las Vegas.
According to&nbsp;<a target="_blank" href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw" rel="noreferrer noopener">Benzinga Pro</a>, BB stock has gained over 14% in the past year. Investors can gain exposure to the stock via&nbsp;SPDR S&amp;P Kensho Future Security ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FITE#NYSE">FITE</a>).
Price Action: BB shares are trading higher by 4.23% to $3.94 at last check Thursday.
Read Next:
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<li><a href="https://www.benzinga.com/news/global/25/01/42757919/joe-biden-addresses-new-orleans-attack-says-law-enforcement-probing-links-with-cybertruck-explosion-outside-trump-hotel-in-las-vegas" target="_blank" rel="noreferrer noopener">Joe Biden Addresses New Orleans Attack Says Law Enforcement Probing Links With Cybertruck Explosion Outside Trump Hotel In Las Vegas</a></li>
</ul>

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Tech

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FITE

BlackBerry Rebrands IoT Division As QNX - What's Driving The Change?

Jefferies analyst David Katz maintains Xenia Hotels &amp; Resorts (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XHR#NYSE">XHR</a>) with a Buy and raises the price target from $18 to $20.

Jefferies Maintains Buy on Xenia Hotels & Resorts, Raises Price Target to $20

Jefferies analyst David Katz maintains Park Hotels &amp; Resorts (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PK#NYSE">PK</a>) with a Buy and lowers the price target from $23 to $22.

Jefferies Maintains Buy on Park Hotels & Resorts, Lowers Price Target to $22

Carmell Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CTCX#NASDAQ">CTCX</a>) disclosed that it has entered into a definitive purchase agreement with PMGC Holdings Inc. (formerly Elevai Labs Inc.) and its subsidiary, Elevai Skincare Inc., for purchase consideration, which includes around $1.1 million in <a href="https://www.benzinga.com/pressreleases/25/01/g42762528/carmell-announces-execution-of-definitive-agreement-to-acquire-elevai-skincare-a-leader-in-physici" target="_blank" rel="noreferrer noopener">Carmell stock at the closing of the acquisition</a>.
Additionally, Carmell will pay around $57,000 in cash for the sale of specified inventory existing as of the closing.
Furthermore, the acquisition includes contingent earnout considerations. This comprises 5% of net sales from Elevai&#8217;s existing products, which will be paid annually over the next five years.
A one-time milestone payment of $500,000 will be made if Elevai&#8217;s hair and scalp products generate $500,000 in net revenue within 24 months of the closing.
Lastly, Carmell will assume Elevai&#8217;s contractual liabilities and trade payables at the time of closing.
Carmell expects to acquire several assets from Elevai as part of the acquisition.
These assets include a product portfolio with trailing twelve-month revenue of approximately $2.5 million, as well as the commercial and product development team.
Additionally, Carmell will acquire finished and work-in-process inventory valued at approximately $1.0 million, along with accounts receivable of about $30,000.
Rajiv Shukla, chairman of Carmell said, &#8220;This acquisition will integrate one of the newest advances in stem cell derived exosome technology into the Carmell platform, further cementing our status as the home of the best bio-aesthetic skincare science, Built by Biology just as Nature intended.&#8221;
As of Sept. 30, 2024, the company had cash and cash equivalents <a href="https://app.quotemedia.com/data/downloadFiling?webmasterId=90423&amp;ref=318716575&amp;type=PDF&amp;symbol=CTCX&amp;cdn=364b0da5c720a5cb08623287e5aeba2e&amp;companyName=Carmell+Corporation&amp;formType=10-Q&amp;formDescription=General+form+for+quarterly+reports+under+Section+13+or+15%28d%29&amp;dateFiled=2024-11-14" target="_blank" rel="noreferrer noopener">of </a>$25,297.
Last week, the company entered into a securities purchase <a target="_blank" href="https://www.benzinga.com/news/financing/24/12/42673289/why-biotechnology-company-carmell-shares-are-seeing-blue-skies-tuesday" rel="noreferrer noopener">agreement&nbsp;with new and existing investors</a>.
The agreement involves the issuance and sale of 8,065,210 shares of common stock and an equal number of five-year warrants, both priced at $0.23 per share, in a private placement.
Price Action: CTCX shares are up 215.8% at $0.88 premarket at the last check Thursday.
Read Next:
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<li><a href="https://www.benzinga.com//node/42764308" target="_blank" rel="noreferrer noopener">D.O.G.E. Zooms 48% Higher Ahead Of Elon Musk-Led Agency Launching In January: &#8216;Ready For The Next Leg Up,&#8217; Millionaire Trader Vows</a></li>
</ul>
Photo: Shutterstock

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CTCX

Why Biotechnology Company Carmell Shares Are Rocketing On Thursday

An arctic air blast across the U.S. is driving up heating demand and creating volatile <a href="https://www.benzinga.com/markets/commodities">conditions in energy markets</a>.
What Happened: Natural gas futures bounced back Thursday morning, with February contracts climbing by over 2% to $3.71 per million British units.
According to the National Weather Center (NWC), "Periods of locally heavy coastal rains and higher elevation snow continue for much of the northwestern U.S."
See Also: <a href="https://www.benzinga.com/economics/macro-economic-events/25/01/42764583/mortgage-rates-soar-to-697-applications-crash-jobless-claims-fall-thursdays-econ-data">Mortgage Rates Soar To 6.97%, Applications Crash, Jobless Claims Fall: Thursday&#8217;s Economic Data</a>
The next two days will see a deluge of rain and snow over the Northwest. The heaviest moisture will target the northern California coast and Oregon today. The NWC highlighted an isolated threat of flash flooding in these areas.
"Accumulating snow is possible over the highest elevations of the Cascades, Sierra and Northern Rockies," the NWC added, noting that snow showers will continue in the Northern and Central Rockies, while rain and snow showers expand across the Northwest on Friday.
The Great Lakes region is bracing for heavy snowfall, with isolated areas expecting accumulations of up to one foot. Snowfall of six to 12 inches is also forecast for parts of the Central Appalachians by Friday.
Why It Matters: Winter weather is driving much of the action, and liquefied natural gas (LNG) exports continue to fuel demand as Natural Gas Intel reported.
Natural gas-related stocks posted notable gains by mid-morning Thursday, reflecting optimism about rising demand and cold-driven volatility in the market.
U.S. natural gas prices — as tracked by the United States Natural Gas Fund LP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNG#NYSE">UNG</a>) — have risen by 15% over the past month.
Pipeline giant ONEOK Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OKE#NYSE">OKE</a>) soared 1.57%, trading at $102.28, while Kinder Morgan Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMI#NYSE">KMI</a>), a major natural gas transporter, advanced 2% to $27.94.
Shares of NGL Energy Partners LP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NGL#NYSE">NGL</a>) rose 1.2% to $5.05. It was buoyed by expectations of increased activity in the natural gas infrastructure sector.
What&#8217;s Next: Traders are anxiously awaiting Friday&#8217;s U.S. Energy Information Administration storage report.
Withdrawal estimates for the week ended Dec. 27 range from 77 to 159 billion cubic feet, with an average expectation of 127 Bcf.
If realized, the 127 Bcf draw would erase much of the 166 Bcf surplus left after last week's 93 Bcf withdrawal. For comparison, last year's pull for the same period was just 35 Bcf, while the five-year average is 104 Bcf.
Now Read: 
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<li><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">Elon Musk: Fireworks Or Explosive Device Caused Fatal Cybertruck Incident At Las Vegas Trump Hotel</a></li>
</ul>
Image: Shutterstock

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Natural Gas Prices Surge As Arctic Blast Freezes US: 3 Stocks On The Move

Rentals from peer-to-peer car-sharing company Turo were used in the New Year's Day attacks in both Las Vegas <a href="https://www.benzinga.com/media/25/01/42756901/10-killed-dozens-hurt-in-new-orleans-terrorist-attack-truck-drives-into-bourbon-street-new-years-crowd">and New Orleans.</a>
Here's a look at how the company is involved and what comes next.
What Happened: Attacks that used vehicles in New Orleans and<a href="https://www.benzinga.com/general/entertainment/25/01/42757028/tesla-cybertruck-ignites-outside-trump-international-hotel-in-las-vegas"> Las Vegas on Wednesday</a> left at least 16 people dead and dozens more injured.
Peer-to-peer car-sharing company Turo, which is often referred to as the Airbnb of vehicles, issued a <a href="https://turo.com/blog/news/an-update-on-todays-incidents-in-new-orleans-and-las-vegas/">statement </a>on the use of Turo rentals in the attacks. 
"It is with a heavy heart that we confirm that this morning's horrific attack in New Orleans and this afternoon's Tesla Cybertruck explosion in Las Vegas both involved vehicles rented on Turo. Our thoughts and prayers are with the victims and their families," Turo said in a statement.
Turo said it is working with law enforcement to help the investigations. The company said it does not believe either renter had a "criminal background" that would have flagged them as a security threat. Turo also said there is no evidence at this time that the two attacks are connected.
"We are devastated by these horrible incidents, and remain dedicated to helping the authorities however we can."
In the attack on Bourbon Street in New Orleans, a Ford F-150 Lightning truck was used. In Las Vegas, a Tesla Cybertruck exploded outside the Trump Hotel. Both vehicles are electric pickup trucks.
The owner of the F-150 Lightning recognized his vehicle from news footage of the attack and the license plate, as <a href="https://www.nytimes.com/2025/01/01/us/turo-new-orleans-attack-vegas-explosion.html">reported </a>by the New York Times. The truck's owner said he rents out five vehicles on Turo for a secondary income source but plans to stop this practice after the attack.
Read Also: <a href="https://www.benzinga.com/24/12/42642606/elon-musk-wants-to-raise-a-tesla-fleet-expert-estimates-vehicle-owners-can-make-40kyear-but-remains-doubtful">Tesla Analyst Estimates Vehicle Owners Can Make $40,000 A Year By Renting EVs To Robotaxi Fleet That Elon Musk Likened To A Combination Of Airbnb And Uber, But Will It Take Off?</a>
About Turo: The car-sharing company started in 2009 with venture capital backing, seeking to use a model similar to Airbnb to connect consumers with vehicles that were not being used by their owners.
Unlike traditional car rental companies, users on Turo can often find vehicles located in more convenient spots close to home or work instead of having to go to a car rental retail location. The rates and fees can also be cheaper when using Turo, although this can depend on the prices set by vehicle owners themselves on the app.
A November filing, shared by the New York Times, said around 3.5 million people have used Turo to book a vehicle and around 150,000 people have listed their vehicles for rent on the platform.
In order to use the Turo platform, users have to create an account, have a valid driver's license and payment method. Users also have to be 18 years of age in the United States, which is younger than most car rental companies that set the minimum at 20 or 21. Turo also often checks credit history, auto insurance scores and criminal background history and is able to decline rentals and ban users.
Turo users do not need to have their own car insurance to rent a vehicle, as they can select from three protection plans.
In September, Turo <a href="https://turo.com/blog/news/uber-and-turo-partner-to-share-vehicles-on-uber-rent/">announced </a>a partnership with Uber Technologies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>). The partnership gives Uber customers the ability to rent vehicles from Turo directly through the Uber app.
Turo is available in the United States, Canada, United Kingdom, France and Australia, according to the company's website.
What's Next: Turo filed paperwork to go public in 2022. It did not go public in 2024 and is one of many companies that mount a 2025 IPO.
Turo is backed by dozens of investors through multiple funding rounds. IAC Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IAC#NASDAQ">IAC</a>) is among the largest investors in the company, with a $250 million investment made in <a href="https://turo.com/blog/news/iac-invests-250-million-in-turo/">2019 </a>at a valuation of $1 billion, helping to make the company the biggest shareholder.
The car-sharing company had revenue of $880 million in 2023, up 18% year-over-year. The company's 2023 profit was $14.7 million, down from $154.7 million in 2022, as <a href="https://www.businessinsider.com/what-is-turo-car-rental-app-las-vegas-new-orleans-2025-1">reported </a>by Business Insider.
Insurance bought by the renters on Turo for the vehicles used in the Wednesday attacks and the insurance policies owned by the vehicle owners could become a key topic for Turo in connection with potential liability claims.
The issue of approval of vehicle renters and Turo&#8217;s background check process are also likely to be in the spotlight. 
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/global/25/01/42757919/joe-biden-addresses-new-orleans-attack-says-law-enforcement-probing-links-with-cybertruck-explosion-outside-trump-hotel-in-las-vegas">Joe Biden Addresses New Orleans Attack Says Law Enforcement Probing Links With Cybertruck Explosion Outside Trump Hotel In Las Vegas</a></li>
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MicroAlgo Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MLGO#NASDAQ">MLGO</a>) shares are trading higher Thursday after the company announced the development of a hybrid <a href="https://www.benzinga.com/pressreleases/25/01/n42763951/microalgo-inc-develops-hybrid-classical-quantum-algorithms-to-optimize-multi-query-problems">classical-quantum algorithm.</a>
What To Know: The algorithm addresses Multi-Query Optimization (MQO) problems, which are classified as NP-hard and have applications in fields like database query optimization, machine learning and network routing. The innovation combines the stability of classical computing with the efficiency of quantum computing.
Key aspects of the algorithm include efficient qubit utilization with a reported 99% efficiency, the integration of classical error correction mechanisms to reduce computational error rates, scalability to handle problems of different sizes and compatibility with existing gate-based quantum computers.
MicroAlgo claims its algorithm can effectively handle smaller-scale MQO problems while improving qubit utilization and reducing computational error rates. Experimental evaluations reportedly confirm its performance under current quantum computing limitations.
MLGO Price Action: MicroAlgo shares were up 7.7% at $4.05 at the time of writing, according to <a href="https://pro.benzinga.com/dashboard?new_user=False&amp;backend=google-oauth2">Benzinga pro.</a>
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="545" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/02105044/Screenshot-2025-01-02-at-10.50.02-1024x545.png" alt="" class="wp-image-715496" style="width:421px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/02105044/Screenshot-2025-01-02-at-10.50.02-1024x545.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/02105044/Screenshot-2025-01-02-at-10.50.02-300x160.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/02105044/Screenshot-2025-01-02-at-10.50.02-768x409.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/02105044/Screenshot-2025-01-02-at-10.50.02.png 1499w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
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