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Bio Essence Corp is an herbal health, diet, and nutrition company. The Company's mission is to provide herbal health, diet, and vitamin nutritional supplements. It develops traditional Chinese medicines (TCM) in the form of single herbs, granules, pills, and tablets. It also offers special formulated dietary supplements and medical food.

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German lending behemoth, Deutsche Bank AG Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DB#NYSE">DB</a>), was developing an Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) Layer-2 blockchain, according to a Wednesday report, the latest in a wave of growing interest in Web3 by traditional financial giants.
What Happened: The solution was developed using ZKsync technology and was part of the Project Dama 2 experiment, which was unveiled in November, Bloomberg <a href="https://www.bloomberg.com/news/articles/2024-12-18/deutsche-bank-tries-to-tackle-compliance-hurdles-for-public-blockchains?utm_source=telegram&amp;utm_content=crypto&amp;utm_medium=social">reported</a>. 
The Layer-2 concept was an attempt to avoid the issues that regulated banks may have when working with public blockchains, such as transacting with criminals and sanctioned entities, according to bank executives quoted by Bloomberg.
A rollup, or a <a href="https://www.benzinga.com/money/what-are-layer-2-solutions-in-crypto">Layer-2 scaling solution</a>, offers the security of the Layer-1 chain and infrastructure while catering to enterprise needs for security and compliance. They allow for full customization, with only permissioned entities allowed to be as validators—participants that verify transactions.
Deutsche Bank didn&#8217;t immediately respond to Benzinga&#8217;s request to confirm this development. 
See Also:&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42560698/microstrategys-aggressive-bitcoin-strategy-raises-eyebrows-in-crypto-community">MicroStrategy&#8217;s Aggressive Bitcoin Strategy Raises Eyebrows In Crypto Community</a>
Why It Matters: Project Dama 2 was part of the broader <a href="https://www.benzinga.com/markets/cryptocurrency/23/10/35499095/singapores-project-guardian-teams-up-with-top-financial-titans-for-asset-tokenization-pilo">&#8220;Project Guardian&#8221; initiative</a>, launched by Singapore&#8217;s central bank, the Monetary Authority of Singapore, to test the application of asset tokenization and decentralized finance across a broader range of use cases in the financial sector.
Participating financial institutions include names like JPMorgan, which <a href="https://www.benzinga.com/markets/asia/22/11/29552324/jpmorgan-executes-first-defi-transaction-for-singapores-project-guardian">previously conducted a cross-border transaction</a> on a public chain.
The move comes in the wake of similar initiatives by other major corporations. Earlier in August, multinational conglomerate&nbsp;Sony Group <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40521900/sony-group-set-to-launch-ethereum-layer-2-blockchain-soneium-heres-what-you-should-know">unveiled</a> its Ethereum Layer-2 blockchain, Soneium. The public blockchain, developed in collaboration with Web3 infrastructure, Startale Labs, hosts a range of Web3 games, NFT marketplaces, and entertainment-related services.
Deutsche Bank is the largest lender in Germany, with assets worth €1.31 trillion ($1.36 billion) as of Mar. 31, <a href="https://www.spglobal.com/market-intelligence/en/news-insights/research/europes-50-largest-banks-by-assets-2024">according </a>to S&amp;P Global.
Price Action:  Shares of Deutsche Bank closed 2.44% lower at $17.18 during Wednesday&#8217;s regular session and were down 1.05% in after-market trading, 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>. 
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42568122/trump-backed-world-liberty-financial-forges-partnership-with-ethena-labs-ena-token-gains-amid-broader-slump">Trump-Backed World Liberty Financial Forges Partnership With Ethena Labs — ENA Token Gains Amid Broader Slump</a></li>
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Germany's Largest Bank Is Reportedly Leveraging Ethereum-Based Blockchain Solution To Overcome Regulatory Hurdles: Here's How

On Wednesday, Senate minority leader Mitch McConnell (R-Ky.) submitted an amicus brief to the Supreme Court, urging the rejection of TikTok&#8217;s request to delay a law that could ban the app in January.
What Happened: McConnell dismissed TikTok&#8217;s First Amendment claims in his filing. &#8220;The topsy-turvy idea that TikTok has an expressive right to facilitate the CCP censorship regime is absurd,&#8221; his counsel Michael A. Fragoso wrote.
&#8220;TikTok clearly desires this Court to enjoin the divesture date in the vain hopes that the divesture order will be punted into the next presidential administration where, perhaps, TikTok will find relief from divesture from a less hostile Department of Justice,&#8221; the filing read.
See Also: <a href="https://www.benzinga.com/24/12/42546621/elon-musk-agrees-as-satya-nadella-reflects-on-ais-global-impact-in-2024-from-cancer-research-to-rainforest-conservation-and-more?itm_source=parsely-api">Elon Musk Agrees With Satya Nadella As Microsoft CEO Reflects On &#8216;Incredible Speed&#8217; Of AI Diffusion In 2024</a>
On the same day, the Supreme Court said it will hear arguments on whether the law that bans TikTok nationwide infringes on the First Amendment, with oral arguments scheduled for Jan. 10.
This timeline allows the court to potentially rule before the ban&#8217;s effective date of Jan. 19.
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: McConnell was instrumental in passing a <a href="https://www.benzinga.com/news/24/04/38500093/tiktok-ban-courts-must-decide-whether-national-security-concerns-trump-freedom-of-expression">foreign aid package</a> in April that included the law. It mandated ByteDance, TikTok&#8217;s China-based parent company, to divest from the app or face a ban in the U.S.
Earlier this week, President-elect Donald Trump <a href="https://www.benzinga.com/general/social-media/24/12/42522134/trump-meets-tiktok-ceo-shou-zi-chew-at-mar-a-lago-as-platform-urges-supreme-court-to-block-looming-ban">met with TikTok CEO</a> Shou Zi Chew. Trump, who previously attempted to ban TikTok during his first presidency, has also expressed support for the social media platform, promising to &#8220;save&#8221; it.
A potential TikTok ban could lead users to <a href="https://www.benzinga.com/24/12/42512436/tiktok-ban-could-lead-to-more-time-spent-on-youtube-reddit-snapchat">spend more time on</a> platforms like YouTube, 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>) Google, Reddit Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RDDT#NYSE">RDDT</a>), and Snap Inc.'s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNAP#NYSE">SNAP</a>) Snapchat.
The platform also competes with Meta Platforms, Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) Facebook and Instagram. In fact, following a court ruling against TikTok, stocks for Meta, Reddit, and Snap <a href="https://www.benzinga.com/24/12/42369266/meta-reddit-stocks-climb-record-highs-as-tiktoks-battle-against-us-ban-continues-after-court-ruling">reached record highs</a>.
In September, acquisition speculation ignited after Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) decided to <a href="https://www.benzinga.com/news/24/09/40866761/is-amazon-eyeing-tiktok-for-a-possible-acquisition">deepen its ties with TikTok</a>. In May 2024, venture capitalist Kevin O'Leary also <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38948567/kevin-oleary-wants-to-buy-tiktok-talks-potential-for-crypto-payments-on-the-platform">expressed interest in acquiring</a> TikTok.
In July, Needham analyst Laura Martin assessed <a href="https://www.benzinga.com/top-stories/24/07/39991984/tiktok-vs-reels-vs-shorts-analyst-sizes-up-short-form-video-platforms-on-valuation-and-monetization">TikTok as being more valuable</a> than Instagram Reels and YouTube Shorts, citing metrics such as revenue, active user base, and engagement levels.
Photo by Consolidated News Photos on Shutterstock
Check out more of Benzinga's Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech">following this link</a>.
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<li><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?itm_source=parsely-api">Samsung Galaxy S25 Ultra And S25+ Leaks Feature Sleek Curved Design And Slimmer Bezels Than Apple&#8217;s iPhone 16 Pro Max</a></li>
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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RDDT

SNAP

Mitch McConnell Urges Supreme Court To Reject TikTok's Delay Request, Says Platform Hoping For Less Hostile DOJ In Trump Administration

Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) and Nvidia Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) have announced a collaboration for the improvement in the performance of large language models.
What Happened: The partnership focuses on integrating Apple&#8217;s Recurrent Drafter (ReDrafter) technique with Nvidia&#8217;s TensorRT-LLM, to boost text generation speeds.
ReDrafter, which Apple open-sourced earlier this year, combines beam search and dynamic tree attention to improve LLM performance.
The collaboration with Nvidia has led to the integration of ReDrafter into TensorRT-LLM, a tool designed to accelerate LLMs on Nvidia GPUs.
See Also: <a href="https://www.benzinga.com/24/12/42546621/elon-musk-agrees-as-satya-nadella-reflects-on-ais-global-impact-in-2024-from-cancer-research-to-rainforest-conservation-and-more?itm_source=parsely-api">Elon Musk Agrees With Satya Nadella As Microsoft CEO Reflects On &#8216;Incredible Speed&#8217; Of AI Diffusion In 2024</a>
This integration involved adding new operators to improve TensorRT-LLM&#8217;s ability to handle complex models and decoding methods.
Benchmarking results show a 2.7x increase in token generation speed for greedy decoding on Nvidia GPUs, significantly reducing latency and power consumption.
Apple&#8217;s machine learning researchers noted that this advancement could lower computational costs and improve user experience by reducing latency in production applications.
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: In October earlier this year, Apple reported <a href="https://www.benzinga.com/news/earnings/24/10/41666494/apple-q4-earnings-revenue-beat-eps-beat-installed-base-hits-new-highs-iphone-sales-rise-as-apple-in">fourth-quarter revenue</a> of $94.9 billion, surpassing analyst expectations of $94.56 billion.
Last month, Nvidia reported <a href="https://www.benzinga.com/news/earnings/24/11/42099904/nvidia-beats-q3-revenue-eps-estimates-supply-constraints-ding-stock-huang-says-age-of-ai-is-in-full-steam">third-quarter revenue</a> of $35.1 billion, marking a 94% increase compared to the last year, and exceeding the Street consensus estimate of $33.12 billion, as per <a href="https://www.benzinga.com/pro/?utm_source=BZprocontent112024&amp;t=be2bearmibe3na1">Benzinga Pro data</a>.
Together these two tech giants are worth about $7 trillion, with Apple being the most valuable company in the world and Nvidia ranking third.
Price Action: Apple shares fell 2.14% to $248.05 on Wednesday, and dipped further to $247.19 in after-hours trading. Meanwhile, Nvidia shares gained 2.01% to $131.50 in after-hours trading, recovering from a 1.14% decline to $128.91 during the regular session.
Photo Courtesy: Koshiro K On Shutterstock.com
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/24/12/42499609/micron-gets-investment-from-white-house-china-launches-antitrust-investigation-on-nvidia-apple-faces-1-2-billion-lawsuit-in-california-more-consumer-tech-news-december-9-13?itm_source=parsely-api">Micron Gets Investment From White House, China Launches Antitrust Investigation On Nvidia, Apple Faces $1.2 Billion Lawsuit In California &amp; More: Consumer Tech News</a></li>
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Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.

AAPL

NVDA

Nvidia, Apple Team Up To Supercharge ChatGPT-Like LLMs With ReDrafter Technique

World Liberty Financial, a cryptocurrency project backed by President-elect Donald Trump, announced a strategic partnership with decentralized finance protocol Ethena Labs (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">ENA</a>) on Wednesday
What happened: Ethena Labs stated on X that a proposal has been submitted to explore Ethena Staked USDe (CRYPTO: sUSDe), a reward-bearing stablecoin, as a collateral asset on the upcoming protocol.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Ethena has entered into a strategic partnership with <a href="https://twitter.com/worldlibertyfi?ref_src=twsrc%5Etfw">@worldlibertyfi</a> A governance proposal has been submitted to add sUSDe to WLFI&#39;s upcoming Aave instance as a core collateral asset <a href="https://t.co/jgjd8QGWDS">pic.twitter.com/jgjd8QGWDS</a>
&mdash; Ethena Labs (@ethena_labs) <a href="https://twitter.com/ethena_labs/status/1869413534125510677?ref_src=twsrc%5Etfw">December 18, 2024</a></blockquote>
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"Should it pass, this proposal will enable World Liberty Financial users to benefit from sUSDe rewards and also WLF token rewards," Ethena Labs said.
Ethena issues the so-called synthetic stablecoin USDe, which, unlike other dollar-pegged stablecoins like Tether (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">USDT</a>) and USD Coin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">USDC</a>) doesn't rely on traditional finance backing.
See Also:<a href="https://www.benzinga.com/24/12/42519107/if-you-invested-1000-in-bitcoin-when-the-first-bitcoin-etf-was-filed-heres-how-much-youd-have-today"> </a><a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42560698/microstrategys-aggressive-bitcoin-strategy-raises-eyebrows-in-crypto-community">MicroStrategy&#8217;s Aggressive Bitcoin Strategy Raises Eyebrows In Crypto Community</a>
After the announcement, World Liberty Financial bagged $250,000 worth of ENA tokens, Ethena Labs' native cryptocurrency. Since Nov. 30, it has bought 741,681 ENA tokens, worth $823,265 at current market prices.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">After announcing a partnership with <a href="https://twitter.com/ethena_labs?ref_src=twsrc%5Etfw">@ethena_labs</a>, Donald Trump's World Liberty Financial (<a href="https://twitter.com/worldlibertyfi?ref_src=twsrc%5Etfw">@worldlibertyfi</a>) spent 250K <a href="https://twitter.com/search?q=%24USDC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$USDC</a> to buy another 231,726 <a href="https://twitter.com/search?q=%24ENA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ENA</a> 20 minutes ago! Since November 30, World Liberty Financial has spent $45M to buy 6 crypto assets, including: • 8,105 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a>… <a href="https://t.co/qD12WmjT7X">https://t.co/qD12WmjT7X</a> <a href="https://t.co/PrFmUH4KLH">pic.twitter.com/PrFmUH4KLH</a>
&mdash; Spot On Chain (@spotonchain) <a href="https://twitter.com/spotonchain/status/1869476938823438648?ref_src=twsrc%5Etfw">December 18, 2024</a></blockquote>
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Why It Matters: World Liberty Financial was launched <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40905315/donald-trumps-new-crypto-project-world-liberty-financial-everything-you-need-to-know">as a decentralized money market </a>in September that will allow users to borrow, lend, and earn interest on cryptocurrencies.&nbsp;
The project was <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40722435/trumps-crypto-project-vows-to-bolster-us-financial-dominance-with-dollar-pegged-stablecoin">passionately promoted</a> by Trump and his family, and a firm associated with the President-elect, DT Marks DEFI, LLC, <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41395007/trump-affiliated-entity-will-get-75-of-world-liberty-financials-revenue-and-22-of-wlfi-tok">would receive 75% of the protocol revenue</a>.
Recently, the protocol roped in Tron (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/trx/usd">TRX</a>) founder Justin Sun <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42198909/trump-linked-crypto-platform-world-liberty-financial-appoints-justin-sun-as-advisor-after-30-million-investment">as its advisor</a>, following a $30 million investment into the protocol by the cryptocurrency mogul.
Price Action:  At the time of writing, ENA was exchanging hands at $1.11, up 1.86% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>, one of the few tokens to trade in the green on a day the <a href="https://www.benzinga.com/trading-ideas/movers/24/12/42567762/bitcoin-ethereum-dogecoin-fall-after-fed-shows-no-interest-for-piling-btc-top-analyst-says-sentiment-shifting-2025-suddenly-looks-a-lot-less-rosy">broader market slumped</a>.
Image via Flickr
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$ENA

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Trump-Backed World Liberty Financial Forges Partnership With Ethena Labs — ENA Token Gains Amid Broader Slump

The U.S. stock market experienced a severe selloff Wednesday after Federal Reserve Chair Jerome Powell&#8216;s comments triggered what CNBC&#8217;s Jim Cramer described as &#8220;incredible panic&#8221; in the markets.
What Happened: &#8220;People throwing away good and bad. Typical index fund behavior,&#8221; Cramer wrote on X, specifically highlighting concerns about small-cap stocks&#8217; performance. &#8220;And all of those people who loved the Small Caps (the Russell 2000?) now what??&#8221;
The market reaction came after Powell announced a 25-basis-point rate cut to 4.25%-4.5%, while signaling only two potential rate cuts in 2025 – fewer than the <a href="https://www.benzinga.com/news/econ-s/24/12/42561549/fed-slashes-interest-rates-by-0-25-as-predicted-december-dot-plot-flags-only-2-potential-cuts-in-2025">four projected in September</a>.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Incredible panic out there.. People throwing away good and bad. Typical index fund behavior. And all of those people who loved the Small Caps (the Russell 2000?) now what??
&mdash; Jim Cramer (@jimcramer) <a href="https://twitter.com/jimcramer/status/1869487562500497413?ref_src=twsrc%5Etfw">December 18, 2024</a></blockquote>
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The selloff was broad and deep, with the Dow Jones Industrial Average, as tracked by the SPDR Dow Jones Industrial Average ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) plunging 2.48% to close at 42,326, marking its worst one-day drop since September 2022. 
The S&amp;P 500 index — tracked by the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) fell 2.9% to 5,872, while the tech-heavy Nasdaq 100, tracked by Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), dropped 3.6% to 21,209.
Small-cap stocks, as measured by the iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>), bore the brunt of the selling pressure, tumbling 4.4% to 2,231, completely erasing their post-election gains.
See Also: <a href="https://www.benzinga.com/24/12/42567704/micron-technology-quantum-corporation-meta-amazon-tesla-why-these-5-stocks-are-on-investors-radars-today">Micron Technology, Quantum Corporation, Meta, Amazon, Tesla: Why These 5 Stocks Are On Investors&#8217; Radars Today</a>
Why It Matters: The &#8220;Magnificent Seven&#8221; tech stocks collectively <a href="https://www.benzinga.com/news/econ-s/24/12/42564807/powell-triggers-market-carnage-vix-spikes-58-stocks-plummet-dollar-hits-2-year-highs-bitcoin-nosedives">lost over $600 billion in market value</a>, with Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) leading the decline, down 8.2%.
Powell described the Fed&#8217;s approach as entering &#8220;a new phase&#8221; for monetary policy, emphasizing a more cautious stance on future rate cuts. The Fed now projects inflation to reach 2.5% in 2025, up from its <a href="https://www.benzinga.com/economics/macro-economic-events/24/12/42563299/feds-powell-shocks-markets-its-a-new-phase-were-significantly-closer-to-neutral">previous estimate of 2.1%</a>.
The market anxiety was reflected in the CBOE Volatility Index, which surged 58% to 25, while the U.S. dollar climbed to two-year highs. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) fell 5.32%, trading just below $100,000, and gold dropped 2.1% to $2,580 per ounce.
Read Next: 
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<li><a href="https://www.benzinga.com/trading-ideas/movers/24/12/42567762/bitcoin-ethereum-dogecoin-fall-after-fed-shows-no-interest-for-piling-btc-top-analyst-says-sentiment-shifting-2025-suddenly-looks-a-lot-less-rosy">Bitcoin, Ethereum, Dogecoin Fall After Fed Shows No Interest For Piling BTC: Top Analyst Says Sentiment Shifting — &#8216;2025 Suddenly Looks A Lot Less Rosy&#8217;</a></li>
</ul>
AI-Generated Image Created Using MidJourney
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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TSLA

Jim Cramer Warns Of 'Incredible Panic' As Jerome Powell's Hawkish Outlook Send Stocks Into Free Fall: 'People Throwing Away Good And Bad'

Leading cryptocurrencies tanked Wednesday after the Federal Reserve's <a href="https://www.youtube.com/watch?v=ReqGMYHAbP0">hawkish outlook</a> and the central bank&#8217;s statement that it has no interest in owning Bitcoin.
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<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 7:45 p.m. ET)</td>
</tr>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>-4.94%</td>
<td>$100,644.84</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>-5.81%</td>
<td>$3,648.03</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>-8.26%</td>
<td>$0.3603</td>
</tr>
</tbody>
</table>
</figure>
What Happened: Bitcoin plunged sharply through the day but managed to stay above the psychologically crucial $100,000 mark.
Ethereum's descent was steeper, as the second-largest cryptocurrency retreated to the $3,600 region following a near 6% drop.
The slump triggered over $675 million in cryptocurrency liquidations in the last 24 hours, with long liquidations hitting $578 million.
The decline came following Fed Chair Jerome Powell's comments during the press conference following the Federal Open Market Committee meeting, where he disclosed that the central bank can't hold Bitcoin and it wasn't looking for a law change.
Bitcoin's Open Interest dropped 1.1%, however, the number of traders taking long positions for the coin surged above 50%, indicating expectations of a revival.
Over $1 billion in short positions risked liquidation if Bitcoin recovers to $105,900.
Market sentiment cooled from "Extreme Greed" to "Greed," according to the Cryptocurrency Fear &amp; Greed Index, signaling a decline in FOMO.
Top Gainers (24-Hours)
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 7:45 p.m. ET)</td>
</tr>
<tr>
<td>Pudgy Penguins (PENGU)</td>
<td>+21.82%</td>
<td>$0.03574</td>
</tr>
<tr>
<td>Bitget Token (BGB)</td>
<td>+7.95%</td>
<td>$4.24</td>
</tr>
<tr>
<td>Monero (XMR)</td>
<td>+0.87%</td>
<td>$214.23</td>
</tr>
</tbody>
</table>
</figure>
The global cryptocurrency market capitalization stood at $3.51 trillion, dropping over 5% in the last 24 hours.
Stocks got pounded on Wednesday. The Dow Jones Industrial Average plunged 1,123.03 points, or 2.58%, to close at 42,326.87 as the index posted its 10th consecutive losing day. The S&amp;P 500 slipped 2.95%, ending at 5,872.16, while the tech-focused Nasdaq Composite dipped 3.56% to 19,392.69.
The market suffered <a href="https://www.benzinga.com/economics/macro-economic-events/24/12/42563299/feds-powell-shocks-markets-its-a-new-phase-were-significantly-closer-to-neutral">despite the Fed's latest 25-basis-point reduction</a> as Chair Powell hinted at a more cautious stance in 2025, with just two more 0.25% rate cuts projected next year, compared to the four anticipated in September.
The benchmark 10-year Treasury yields leaped to 4.5%, the highest since early June, as risk sentiment evaporated.
See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>
Analyst Notes: Widely followed cryptocurrency analyst and trader Ali Martinez weighed in on the central bank's policy shift, stating that 2025 looks a "lot less rosy."
"For now, keep calm, don't panic sell, and remember: markets hate uncertainty, but they also thrive on it when the dust settles. Let's see where this goes from here," Martinez advised traders.
In his analysis of the Federal Reserve action, Ali said, &#8220;It wasn't today's 25 bps cut that made markets freak out—it was the realization that inflation might stick around longer, and the Fed's not quite ready to take its foot off the gas. Sentiment is shifting, and 2025 suddenly looks a lot less rosy.
<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">What's the deal with today's market chaos? The Fed went ahead with a predictable 25 bps rate cut. No surprises there—97% of people expected it. But then, Bitcoin tanked around $100,000. Why? Let me explain without the usual Fed jargon. ————————- This is a glimpse of the premium… <a href="https://t.co/wANPW4t2uV">pic.twitter.com/wANPW4t2uV</a>
&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1869520970832138261?ref_src=twsrc%5Etfw">December 18, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Another well-known analyst, Rekt Capital, noted Bitcoin's daily close above $100,000 but cautioned that it wasn't enough.
&#8220;However, for BTC to move up from here, it would need to reclaim ~$101,000 as support, much like it did on Dec. 14. Otherwise, $101,000 could turn into new resistance, which could mean the downside isn&#8217;t over," the analyst stated.
<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"><a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> Ultimately, BTC has Daily Closed above $100k However for BTC to move up from here, it would need to reclaim ~$101k (red) as support, much like it did on December 14th Otherwise, $101k could turn into new resistance which could mean the downside isn&#39;t over<a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> <a href="https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw">#Crypto</a>… <a href="https://t.co/964IqYsdpo">https://t.co/964IqYsdpo</a> <a href="https://t.co/mxhL04PnsH">pic.twitter.com/mxhL04PnsH</a>
&mdash; Rekt Capital (@rektcapital) <a href="https://twitter.com/rektcapital/status/1869542342266683693?ref_src=twsrc%5Etfw">December 19, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Read Next:&nbsp;&nbsp;&nbsp;&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42560698/microstrategys-aggressive-bitcoin-strategy-raises-eyebrows-in-crypto-community">MicroStrategy&#8217;s Aggressive Bitcoin Strategy Raises Eyebrows In Crypto Community</a></li>
</ul>

Movers

$DOGE

Bitcoin, Ethereum, Dogecoin Fall After Fed Shows No Interest For Piling BTC: Top Analyst Says Sentiment Shifting — '2025 Suddenly Looks A Lot Less Rosy'

Larry Ellison and Steve Jobs once devised a plan to rescue Apple Inc. and reinstate Jobs as CEO during the company&#8217;s challenging times.
What Happened: In a 2016 commencement speech at USC, Ellison, who co-founded Oracle Corporation, recounted a pivotal conversation with Jobs in 1995.
At the time, Apple was struggling, and Ellison proposed buying the company to make Jobs CEO.
&#8220;My idea was simple, buy Apple, and immediately make Steve CEO. Apple wasn't worth much back then, about $5 billion dollars,&#8221; he stated, adding, &#8220;We both had really good credit and I had already arranged to borrow all of the money. All Steve had to do was say yes.&#8221;
See Also: <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?itm_source=parsely-api">Samsung Galaxy S25 Ultra And S25+ Leaks Feature Sleek Curved Design And Slimmer Bezels Than Apple&#8217;s iPhone 16 Pro Max</a>
However, Jobs suggested a more indirect approach: <a href="https://www.benzinga.com/markets/equities/23/12/36321524/if-you-invested-1000-in-apple-when-it-announced-next-acquisition-to-bring-back-steve-jobs-heres-">persuading Apple to acquire</a> NeXT, his company, and then gradually taking a leadership role.
Ellison shared that Jobs was not motivated by financial gain, and pointed out the importance of standing on &#8220;moral high ground.&#8221;
Despite Ellison&#8217;s initial reluctance, he supported Jobs&#8217; vision of eventually joining Apple&#8217;s board.
This decision led to Jobs&#8217; return and Apple&#8217;s transformation into the world's most valuable company today with a market capitalization of $3.749 trillion. Year-to-date, Apple&#8217;s stock has climbed 33.62%.
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
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<iframe loading="lazy" title="Larry Ellison USC Commencement Speech &#x7C; USC Commencement 2016" width="500" height="281" src="https://www.youtube.com/embed/5DJaWWwITRM?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div>
</figure>
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Why It Matters: After co-founding Apple in 1976 alongside Steve Wozniak and Ronald Wayne, Jobs was <a href="https://www.benzinga.com/markets/equities/24/09/40876783/steve-jobs-came-back-to-apple-27-years-ago-today-after-12-years-in-exile-if-you-invested-1-000-w">pushed out nine years later</a> by John Sculley, the CEO he had brought on board.
Jobs made his return to Apple in 1996 when the company acquired NeXT, and by 1997, he was appointed interim CEO.
Apple's revival required a critical investment from competitor Microsoft Corporation, which was then spearheaded by Bill Gates, and Jobs' visionary approach to reimagining the company.
Jobs also drew lessons from Nike and transformed <a href="https://www.benzinga.com/news/24/05/38985210/steve-jobs-turned-around-apples-fortunes-27-years-ago-not-by-making-mac-better-than-windows-but-by-u">Apple's marketing strategies</a> to make them more impactful.
By the time he finally resigned as CEO in 2011, Apple had already transformed into a powerhouse of innovation. Jobs&#8217; successor, Tim Cook, had been prepared to take the reins, having already led the company during his health-related absences.
Photo: Courtesy of Wikimedia
Check out more of Benzinga&#8217;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/24/12/42525551/ahead-of-trumps-return-to-white-house-us-approves-406m-grant-for-taiwans-chipmaker-globalwafers?itm_source=parsely-api">Ahead Of Trump&#8217;s Return To White House, US Approves $406M Grant For Taiwan&#8217;s Chipmaker GlobalWafers</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Larry Ellison Once Considered Buying Apple In Order To Make Steve Jobs The CEO Again: 'My Idea Was Simple…'

The stock market experienced a turbulent day following remarks from Federal Reserve Chair Jerome Powell. The S&amp;P 500 and Nasdaq indices both saw significant declines, with the former dropping by 2.95% and the latter tumbling 3.6%. Powell&#8217;s announcement of a <a href="https://www.benzinga.com/economics/macro-economic-events/24/12/42563299/feds-powell-shocks-markets-its-a-new-phase-were-significantly-closer-to-neutral">cautious approach</a> to future interest rate cuts contributed to the market&#8217;s volatility.
Despite the overall market downturn, several stocks stood out, drawing the interest of retail traders and investors. These are the top stocks that gained the attention of retail traders and investors throughout the day:
Micron Technology Inc.
Micron&#8217;s stock fell 4.33%, closing at $103.90. The stock hit an intraday high of $112.04 and a low of $102.73, with a 52-week range between $157.54 and $78.63. The company reported <a href="https://www.benzinga.com/news/earnings/24/12/42564387/micron-q1-earnings-revenue-miss-eps-beat-soft-guidance-sinks-shares-as-consumer-markets-turn-weaker-in-near-term">first-quarter earnings</a>, revealing a revenue miss of $8.71 billion, slightly below the consensus estimate. However, adjusted earnings per share beat expectations at $1.79. Despite this, soft guidance for the near term due to weaker consumer markets led to the stock&#8217;s decline.
Quantum Corporation
Quantum&#8217;s shares surged 153.04%, closing at $60.02, after reaching a high of $64.20 and a low of $22.15. The stock&#8217;s 52-week range is $64.20 to $2.22. The company announced the development of a <a href="https://www.benzinga.com/24/12/42556629/whats-going-on-with-quantum-corporation-stock-wednesday">parallel file system client</a> for its Myriad all-flash file system. This new client supports NVIDIA&#8217;s GPUDirect Storage, enhancing cross-platform compatibility.
Meta Platforms Inc.
Meta&#8217;s stock dropped 3.59%, closing at $597.19. It recorded an intraday high of $627.36 and a low of $596.32, with a 52-week high of $638.40 and a low of $340.02. The company is projected to see significant growth in advertising revenue, with Instagram <a href="https://www.benzinga.com/24/12/42560942/instagrams-ad-revenue-could-hit-32-billion-by-2025-driving-metas-growth-report">potentially generating</a> $32 billion by 2025. This growth is driven by the increasing popularity of its short-form video product, Reels, according to a previous report.
Amazon.com Inc.
Amazon&#8217;s shares declined by 4.60%, closing at $220.52. The stock&#8217;s intraday high was $231.40, with a low of $220.11, and a 52-week range of $233 to $144.05. The company is set to <a href="https://www.benzinga.com/24/12/42562732/mrbeasts-new-game-show-to-premiere-on-amazon-prime-video-thursday-why-billionaire-david-tepper-may-be-watching">premiere a new game show</a> by YouTube star MrBeast on its Prime Video platform. This move is anticipated to attract significant attention, as highlighted in a recent report.
Tesla, Inc.
Tesla&#8217;s stock plummeted 8.28%, closing at $440.13. The stock reached an intraday high of $488.54 and a low of $427.01, with a 52-week high of $488.54 and a low of $138.80. Despite the decline, Tesla remains a <a href="https://www.benzinga.com/24/12/42562149/teslas-bright-2025-outlook-rivian-faces-roadblocks-analyst-view">top pick for analysts</a> due to its long-term potential. Baird analyst Ben Kallo emphasized Tesla&#8217;s momentum, even amidst geopolitical and policy challenges, as detailed in a recent analysis.
Image via Shutterstock
Prepare for the day&#8217;s trading&nbsp;<a href="https://editorial.benzinga.com/wp-admin/Premarket%20Movers%20&amp;%20News">with top premarket movers and news</a>&nbsp;by Benzinga.
Read Next: 
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<li><a href="https://www.benzinga.com/tech/24/12/42525257/analyst-hikes-teslas-price-target-to-515-musk-expresses-hope-for-stock-to-touch-69042?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Hopes TSLA Stock Will Reach $690 As Analysts Raise Price Target Despite Technical Indicators Flashing Warning Signals</a></li>
</ul>
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>

QMCO

Micron Technology, Quantum Corporation, Meta, Amazon, Tesla: Why These 5 Stocks Are On Investors' Radars Today

Cathie Wood-led Ark Invest made notable trades on Wednesday, involving Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) and Coinbase Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>).
The Tesla Trade 
The trade saw Ark Invest selling 20,582 shares of Tesla Inc. through its ARK Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKK#NYSE">ARKK</a>). The sale was valued at approximately $9.06 million based on Tesla&#8217;s closing price of $440.13. Despite a recent price target increase to $515 by analysts, Tesla&#8217;s stock faced a decline of 7.02% on Wednesday. Analysts continue to view Tesla as a <a href="https://www.benzinga.com/24/12/42562149/teslas-bright-2025-outlook-rivian-faces-roadblocks-analyst-view">leading player in the electric vehicle sector</a>, emphasizing its long-term potential despite short-term volatility.
Elon Musk, Tesla&#8217;s CEO, recently <a href="https://www.benzinga.com/tech/24/12/42525257/analyst-hikes-teslas-price-target-to-515-musk-expresses-hope-for-stock-to-touch-69042">expressed optimism</a> about the stock reaching $690 in the future, although no specific timeline was provided. This sentiment comes amidst a broader reassessment of the electric vehicle market, with Tesla maintaining its status as a top pick among industry analysts.
The Coinbase Trade 
Ark Invest sold 13,780 shares of Coinbase Global Inc. through the Ark Fintech Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKF#NYSE">ARKF</a>). This transaction was valued at approximately $3.85 million based on Coinbase&#8217;s closing price of $279.86. Coinbase has faced challenges recently, <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41637702/coinbase-q3-earnings-highlights-revenue-miss-eps-miss-transaction-revenue-falls-from-q2">including a revenue miss</a> in its third-quarter earnings report, which has pressured its stock performance. 
This is the <a href="https://www.benzinga.com/24/12/42545624/cathie-woods-ark-dumps-coinbase-stock-amid-bitcoin-highs-shopify-holdings-also-cut">second day in running</a> when Ark sold Coinbase stock, on Tuesday the Wood-led firm had unloaded $1.8 million worth of the stock. The sales come amid a frothy and volatile Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) market.
Other Key Trades:
<ul>
<li>Ark Invest bought shares of Futu Holdings Ltd through the ARKF ETF.</li>
<li>Sold shares of Shopify Inc. via the ARKF ETF. It also sold shares of Ionis Pharmaceuticals Inc. using the ARKG ETF.</li>
<li>Purchased shares of Tempus AI Inc. through the ARKK ETF.</li>
</ul>
Image via Ark Invest
Read Next: 
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<li><a href="https://www.benzinga.com/news/global/24/12/42502247/trumps-ex-secretary-of-state-mike-pompeo-backs-nippon-steels-149b-acquisition-of-us-steel-citing-national-security-concerns?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump&#8217;s Ex-Secretary Of State Mike Pompeo Backs Nippon Steel&#8217;s $14.9B Acquisition Of US Steel Citing National Security Concerns</a></li>
</ul>
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>

ETFs

ARKF

ARKK

COIN

Elon Musk's $690 Stock Price Optimism Aside, Cathie Wood's Ark Dumps $9 Million Worth Of Tesla Shares

Autonomous driving technology company TuSimple Holdings Inc. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TSPH#OTC">TSPH</a>) has rebranded as CreateAI, marking its strategic shift toward gaming and animation powered by artificial intelligence. The company, which has partnered with Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) for self-driving technology, announced the transformation on Wednesday.
CreateAI unveiled &#8220;Ruyi,&#8221; an open-source AI model for digital content creation, building on its autonomous driving expertise. The company is developing a major role-playing game based on Louis Cha&#8216;s martial arts novels and an adaptation of &#8220;The Three-Body Problem&#8221; in collaboration with &#8220;Macross&#8221; creator Shōji Kawamori.
&#8220;Our integrated approach at the intersection of generative AI and digital entertainment creation is a differentiating factor,&#8221; said CEO Cheng Lu.
The San Diego-based company maintains offices in China and Japan, with its focus on gaming and animation markets.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/econ-s/24/12/42564807/powell-triggers-market-carnage-vix-spikes-58-stocks-plummet-dollar-hits-2-year-highs-bitcoin-nosedives">Powell Triggers Market Carnage: VIX Spikes 58%, Stocks Plummet, Dollar Hits 2-Year Highs, Bitcoin Nosedives</a></li>
</ul>
Image Via Shutterstock 
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Entertainment

Global

TUSIMPLE HOLDINGS INC A by TuSimple Holdings Inc.

TSPH

Nvidia Partner TuSimple Rebrands As CreateAI Shifts Focus From Autonomous Driving To AI-Powered Gaming And Content

Bill Ackman, CEO Of Pershing Square Capital Management, shared his views on how the Department of Government Efficiency can effectively influence policy decisions, using the <a href="https://www.benzinga.com/general/social-media/24/12/42566558/house-republicans-reject-spending-bill-under-pressure-from-trump-musk-government-faces-shutdown">recently scuttled spending bill</a> as an example.
What Happened: On Wednesday, Ackman outlined a three-step strategy for DOGE to make an impact. In a post on X, the billionaire used the recent events surrounding the spending bill as a case study for how DOGE can progress rapidly.
Ackman outlined a three-step process that led to the bill&#8217;s apparent defeat. According to him, the sequence began with DOGE co-head Vivek Ramaswamy&#8217;s analysis of the bill on X, followed by public criticism from users including his fellow DOGE leader Elon Musk who highlighted what they considered wasteful spending. The final step, Ackman suggested, was Congress members&#8217; reluctance to support the legislation amid concerns about primary challenges and public backlash over what he characterized as &#8220;pork and other waste.&#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">People have expressed skepticism about how <a href="https://twitter.com/DOGE?ref_src=twsrc%5Etfw">@DOGE</a> can be effective without any formal authority. I think today's events around the spending bill provide a road map for rapid DOGE progress. There are three steps to successful DOGE execution: Step 1 Transparency<a href="https://twitter.com/VivekGRamaswamy?ref_src=twsrc%5Etfw">@VivekGRamaswamy</a>… <a href="https://t.co/cXc1kaxZjZ">https://t.co/cXc1kaxZjZ</a>
&mdash; Bill Ackman (@BillAckman) <a href="https://twitter.com/BillAckman/status/1869524556060275166?ref_src=twsrc%5Etfw">December 18, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
The post came in the wake of a rejected spending bill that had been under scrutiny for its content. The bill, which was opposed by a significant number of House GOP members, including President-elect Donald Trump, failed to secure the necessary support to pass.
Ackman&#8217;s post was in reaction to a post by Ramaswamy who dished out &#8220;real-time&#8221; advice to Congress and urged it to go &#8220;back to the drawing board&#8221; on the bill. He said that there was still &#8220;time for forgiveness.&#8221;
Musk too highlighted the role of X users in the abandoning of the spending bill. He said, &#8220;This was a good day for America.&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The voice of the people was heard. This was a good day for America. <a href="https://t.co/r8K4AcbDYf">https://t.co/r8K4AcbDYf</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1869521075761234338?ref_src=twsrc%5Etfw">December 18, 2024</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/markets/24/12/42497173/investment-guru-peter-lynch-if-you-cant-explain-to-an-11-year-old-in-2-minutes-or-less-why-you-own-the-stock-you-shouldnt-own-it?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Investment Guru Peter Lynch: &#8216;If You Can&#8217;t Explain To An 11-Year-Old In 2 Minutes Or Less Why You Own The Stock, You Shouldn&#8217;t Own It&#8217;</a>
Why It Matters: The spending bill&#8217;s rejection marked a significant moment in U.S. politics. The bill, which aimed to extend federal funding until March 14 and avert a government shutdown, was met with opposition.
Earlier, Congressional leaders had reached a consensus on a <a href="https://www.benzinga.com/24/12/42544562/congressional-leaders-reach-bipartisan-deal-to-avert-government-shutdown">bipartisan deal</a> to extend government funding, thereby averting the looming December 20 shutdown deadline. The agreement, which included a one-year farm bill extension and approximately $100 billion in disaster relief, marked the end of weeks of negotiations over disaster aid and overall funding.
Last month, Trump <a href="https://www.benzinga.com/news/global/24/11/41927289/trump-appoints-elon-musk-and-vivek-ramaswamy-to-lead-doge-targeting-bureaucracy-and-65-trillion-federal-spending-we-will-not-go-gently">appointed Musk and Ramaswamy</a> to lead DOGE, which is aimed at cutting bureaucracy, waste, and federal spending by 2026. Musk and Ramaswamy have pledged bold reforms.
Democrats have criticized the abandoning of the bill. Rep. Hakeem Jeffries (D-N.Y.) said that Republicans are hurting the working class Americans they claim to support by ordering a &#8220;shut down&#8221; of the government. He said, &#8220;You break the bipartisan agreement, you own the consequences that follow.&#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">House Republicans have been ordered to shut down the government. And hurt the working class Americans they claim to support. You break the bipartisan agreement, you own the consequences that follow.
&mdash; Hakeem Jeffries (@RepJeffries) <a href="https://twitter.com/RepJeffries/status/1869493488460669104?ref_src=twsrc%5Etfw">December 18, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Bill Ackman. Photo by Center for Jewish History, NYC via Wikimedia Commons
Did You Know?
<ul>
<li>Congress Is Making Huge Investments. <a href="https://www.benzinga.com/gov-trades">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>
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>

Government

Politics

General

Bill Ackman Says Events Around The Scuttled Spending Bill Provide A Road Map For 'Rapid DOGE Progress'

FedEx Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDX#NYSE">FDX</a>) is set to report its fiscal second-quarter results on Thursday after the closing bell and analysts are expecting a<a href="https://www.benzinga.com/news/24/12/42496990/trump-eyes-privatization-of-postal-service-amid-9-5-billion-loss"> decline in earnings.</a> 
What To Know: FedEx reported disappointing first-quarter results in September with adjusted earnings nearly 25% below consensus estimates. The company cited a mix-shift that trended toward higher volumes of less profitable freight and weakness in its industrial and manufacturing customers.&nbsp;
"The soft industrial economy is clearly weighing on the [business-to-business] volumes. And it was definitely much weaker than we expected," FedEx CEO Raj Subramaniam said on the company's most recent earnings call.&nbsp;
Read Next: <a href="https://www.benzinga.com/news/global/24/12/42559347/trump-administration-could-ban-amazons-top-selling-routers-linked-to-chinese-cyberattacks-report">Trump Administration Could Ban Amazon&#8217;s Top-Selling Routers Linked To Chinese Cyberattacks: Report</a>
FedEx is often seen as a bellwether for the economy because shipping volumes correlate with both industrial and consumer demand.&nbsp;
Investors will be looking at the performance of FedEx&#8217;s Express unit which could be affected by demand-induced volume weakness and listening for more information on the potential spinoff of its Freight business.&nbsp;
Investors will be looking for updates on FedEx&#8217;s DRIVE cost-cutting program, which aims to achieve $4 billion in savings by fiscal 2025.&nbsp;
What Else: President-elect Donald Trump suggested <a href="https://www.benzinga.com/24/12/42545204/marjorie-taylor-greene-pushes-to-sell-off-usps-amid-doge-momentum-we-need-to-privatize-ive-been-saying-it-for-years">the possibility </a>of privatizing the U.S. Postal Service, which could benefit FedEx and other private parcel carriers like United Parcel Service, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UPS#NYSE">UPS</a>). 
"There is talk about the Postal Service being taken private, you do know that — not the worst idea I've ever heard," Trump told reporters at Mar-a-Lago on Monday. "It's a lot different today between Amazon and UPS and FedEx, and all the things you didn't have."
Expert Ideas: Last week, Bernstein analyst David Vernon <a href="https://www.benzinga.com/quote/FDX/analyst-ratings">downgraded</a> FedEx from Outperform to Market Perform and lowered the price target from $337 to $316 ahead of its second-quarter report.&nbsp;
Citi analysts wrote Friday that the coming earnings report &#8220;could be one of the most consequential quarters in years&#8221; for FedEx, per Investopedia.&nbsp;
FedEx will report its second-quarter financial results after Thursday's closing bell and will host a conference call to discuss the results at 5:30 p.m. ET the same day. According to estimates from <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, analysts expect the company to report earnings of $3.91 per share on quarterly revenue of $22.12 billion.&nbsp;
FDX Price Action: According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, FedEx shares ended Wednesday's session down 1.54% at $273.16.&nbsp;
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/12/42515463/nike-needs-a-turnaround-after-q2-results-are-released-this-week-will-new-ceo-just-do-it">Nike Needs A Turnaround After Q2 Results Are Released This Week: Will New CEO &#8216;Just Do It?&#8217;</a></li>
</ul>
Image: Shutterstock

Earnings

Previews

FedEx Braces For Q2 Earnings: 'One Of The Most Consequential Quarters In Years,' Analyst Says

Super Micro Computer Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>) shares fell 4.64% to $32.23 Wednesday following the Federal Reserve's December meeting.
Growth-focused companies like SMCI are particularly sensitive to <a href="https://www.benzinga.com/economics/macro-economic-events/24/12/42563299/feds-powell-shocks-markets-its-a-new-phase-were-significantly-closer-to-neutral">interest rate changes</a>, as higher borrowing costs can dampen investment in technology infrastructure.
What To Know: The Fed lowered the federal funds rate by 25 basis points to a range of 4.25%-4.5%, marking its third consecutive cut. However, the updated economic projections signaled a slower pace of rate reductions in 2025, with only two additional cuts expected. The Fed also raised its inflation forecast, projecting core PCE inflation at 2.5% in 2025, up from 2.2% in September.
The prospect of sustained higher rates adds pressure on companies like SMCI, with customers who often rely on favorable financing conditions for large-scale IT projects. Additionally, higher inflation could squeeze margins as operating costs rise.
The broader tech sector also faced selling pressure, amplifying SMCI's decline. The company's performance remains tied to macroeconomic trends, with investors reassessing growth prospects amid a slower-than-expected path to monetary easing.
Read Also: <a href="https://www.benzinga.com/news/econ-s/24/12/42564807/powell-triggers-market-carnage-vix-spikes-58-stocks-plummet-dollar-hits-2-year-highs-bitcoin-nosedives">Powell Triggers Market Carnage: VIX Spikes 58%, Stocks Plummet, Dollar Hits 2-Year Highs, Bitcoin Nosedives</a>
<h1 class="wp-block-heading">How To Buy SMCI Stock</h1>
By now you're likely curious about how to participate in the market for Super Micro Computer — be it to purchase shares, or even attempt to bet against the company.
Buying shares is typically done through a brokerage account. You can find a list of <a href="https://www.benzinga.com/money/best-stock-trading-platforms">possible trading platforms here.</a> Many will allow you to buy &#8220;fractional shares,&#8221; which allows you to own portions of stock without buying an entire share. For example, some stock, like Berkshire Hathaway, can cost thousands of dollars to own just one share. However, if you only want to invest a fraction of that, brokerages will allow you to do so.
In the the case of Super Micro Computer, which is trading at $32.23 as of publishing time, $100 would buy you 3.1 shares of stock.
If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to &#8220;go short&#8221; a share of stock by lending you the shares to sell. The process of shorting a <a href="https://www.benzinga.com/money/how-to-short-a-stock">stock can be found at this resource.</a> Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading — either way it allows you to profit off of the share price decline.
According to data from&nbsp;<a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>, SMCI has a 52-week high of $122.90 and a 52-week low of $17.25.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/econ-s/24/12/42561549/fed-slashes-interest-rates-by-0-25-as-predicted-december-dot-plot-flags-only-2-potential-cuts-in-2025" target="_blank" rel="noreferrer noopener">Fed Slashes Interest Rates By 0.25% As Predicted: December Dot Plot Flags Only 2 Potential Cuts In 2025</a></li>
</ul>
Photo: CryptoFX via Shutterstock

SMCI

What's Going On With Super Micro Computer (SMCI) Stock?

The ProShares UltraPro QQQ (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TQQQ#NASDAQ">TQQQ</a>), which provides triple-leveraged exposure to the Nasdaq-100 Index, fell some 10.81% to $82.09 Wednesday after the Federal Reserve's <a href="https://www.benzinga.com/news/econ-s/24/12/42561549/fed-slashes-interest-rates-by-0-25-as-predicted-december-dot-plot-flags-only-2-potential-cuts-in-2025">December meeting</a>.
What To Know: The ETF is sensitive to bullish sentiment in tech stocks, which struggled amid concerns over the Fed's cautious outlook on monetary easing.
While the Fed reduced the federal funds rate by 25 basis points to a range of 4.25%-4.5%, projections for only two additional rate cuts in 2025 dampened investor enthusiasm.
Read Also: <a href="https://www.benzinga.com/news/econ-s/24/12/42564807/powell-triggers-market-carnage-vix-spikes-58-stocks-plummet-dollar-hits-2-year-highs-bitcoin-nosedives">Powell Triggers Market Carnage: VIX Spikes 58%, Stocks Plummet, Dollar Hits 2-Year Highs, Bitcoin Nosedives</a>
Higher inflation expectations for 2025, with core PCE inflation now forecast at 2.5%, further weighed on growth stocks.
Tech-heavy indices, which benefit from lower borrowing costs, faced headwinds as the Fed signaled a slower pace of rate reductions than markets had previously anticipated. Wednesday&#8217;s decline could reflect renewed uncertainty about the growth sector's ability to thrive in a persistently higher-rate environment.
According to data from&nbsp;<a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>, TQQQ has a 52-week high of $93.79 and a 52-week low of $45.47.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/econ-s/24/12/42561549/fed-slashes-interest-rates-by-0-25-as-predicted-december-dot-plot-flags-only-2-potential-cuts-in-2025" target="_blank" rel="noreferrer noopener">Fed Slashes Interest Rates By 0.25% As Predicted: December Dot Plot Flags Only 2 Potential Cuts In 2025</a></li>
</ul>
Photo: Golden Dayz via Shutterstock

Sector ETFs

TQQQ

Why Nasdaq-100 Leveraged ETF TQQQ Is Falling

Riot Platforms (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIOT#NASDAQ">RIOT</a>) has outperformed the market over the past 5 years by 42.82% on an annualized basis producing an average annual return of 55.6%. Currently, Riot Platforms has a market capitalization of $4.21 billion. 
Buying $100 In RIOT: If an investor had bought $100 of RIOT stock 5 years ago, it would be worth $898.50 today based on a price of $12.23 for RIOT at the time of writing.
<h3>Riot Platforms's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1734565508_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.

RIOT

If You Invested $100 In This Stock 5 Years Ago, You Would Have This Much Today

Editor&#8217;s note: This story has been corrected to state that MicroStrategy&#8217;s dollar cost average price for Bitcoin is below, not above, the current price of the cryptocurrency. 
With Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) prices peaking to all-time high levels, MicroStrategy's (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) aggressive Bitcoin accumulation strategy has once again become a focal point in discussions among <a href="https://www.benzinga.com/markets/equities/24/12/42503221/microstrategy-shares-surge-nearly-7-amid-nasdaq-100-inclusion-and-bitcoins-new-record-high">traders and analysts</a>.
What Happened: In a tweet on Monday, industry expert Alex Kolicich addressed common misconceptions about MSTR in a recent tweet, explaining that the stock is neither a leveraged nor a synthetic call option on Bitcoin. 
Instead, Kolicich pointed out several structural inefficiencies:
<ul>
<li>MSTR trades at a 140% premium to its Bitcoin holdings&#8217; net asset value (NAV).</li>
<li>Each $1 invested in MSTR stock provides only $0.45 of Bitcoin exposure, far less than direct Bitcoin ownership.</li>
</ul>
Kolicich further <a href="https://x.com/AlexKolicich/status/1868705490387321177">elaborated</a> that MicroStrategy is not leveraged but instead deleveraged, offering reduced Bitcoin exposure compared to direct investments. 
He highlighted alternatives like BITX, which provide 2x leverage without a NAV premium.
Additionally, while traditional call options on assets typically offer leveraged upside due to their long volatility exposure, MSTR's convertible bonds effectively short volatility, diluting shareholder returns as Bitcoin prices rise.
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42509614/microstrategy-expands-bitcoin-holdings-by-15350-btc-worth-15-billion-after-joining-nasdaq-100">MicroStrategy Expands Bitcoin Holdings By 15,350 BTC Worth $1.5 Billion After Joining Nasdaq 100</a>
Why It Matters: Crypto trader TheFlowHorse on Dec. 17 in a post on X emphasized the implications of Saylor&#8217;s aggressive Bitcoin purchases, noting that these acquisitions have significantly raised MicroStrategy's DCA to $61,000. 
This figure is approximately 40% lower than Bitcoin's current price, introducing potential risks if prices fall significantly. 
<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">Take a look at Saylor&#39;s recent Bitcoin buys. The buys up here are so large that he has increased his dollar cost average price by nearly 50%, to 61k. That level is around 40% away. We haven&#39;t had a pullback of that magnitude for years, but at some point you have to wonder if in… <a href="https://t.co/erhdvrErn2">pic.twitter.com/erhdvrErn2</a>
&mdash; HORSE (@TheFlowHorse) <a href="https://twitter.com/TheFlowHorse/status/1868763016642052542?ref_src=twsrc%5Etfw">December 16, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Analysts warn that while Bitcoin&#8217;s pullbacks have historically been rare, Saylor's strategy could leave MSTR exposed to potential downside risk, especially with its C-Corp structure subject to double taxation, unlike <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42275232/leveraged-microstrategy-etfs-are-playing-with-fire-experts-warn">more efficient ETFs</a>.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/24/12/42522606/trump-is-serious-about-creating-a-bitcoin-reserve-says-microstrategys-michael-saylorurges-to-buy-btc-before-it-goes-up-by-100x">Trump Serious About Bitcoin Reserve, Says MicroStrategy&#8217;s Michael Saylor: &#8216;Buy It Now And Own The Future&#8217;</a></li>
</ul>
Image: Shutterstock

MSTR

MicroStrategy's Aggressive Bitcoin Strategy Raises Eyebrows In Crypto Community (CORRECTED)

D.R. Horton (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DHI#NYSE">DHI</a>) has outperformed the market over the past 5 years by 8.87% on an annualized basis producing an average annual return of 21.66%. Currently, D.R. Horton has a market capitalization of $43.76 billion. 
Buying $100 In DHI: If an investor had bought $100 of DHI stock 5 years ago, it would be worth $268.50 today based on a price of $136.25 for DHI at the time of writing.
<h3>D.R. Horton's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1734564608_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 You Would Have Made Owning D.R. Horton Stock In The Last 5 Years

Offerings

NUKK

Nukkleus Announces Strategic $10M Private Placement Priced Above-The-Market Under Nasdaq Rules

On Wednesday, House Republicans rejected Speaker Mike Johnson's proposed spending bill that would have extended federal funding until March 14 and averted a<a href="https://www.benzinga.com/24/12/42544562/congressional-leaders-reach-bipartisan-deal-to-avert-government-shutdown"> government shutdown. </a>&nbsp;
The Details: President-elect Donald Trump and Elon Musk joined a large portion of House GOP members in opposing the compromise bill which included numerous Democratic policy priorities.&nbsp;
Read Next: <a href="https://www.benzinga.com/news/global/24/12/42559347/trump-administration-could-ban-amazons-top-selling-routers-linked-to-chinese-cyberattacks-report">Trump Administration Could Ban Amazon&#8217;s Top-Selling Routers Linked To Chinese Cyberattacks: Report</a>
Some of the Republican-contested late additions from Democrats included a pay raise for members of Congress, new regulations for health plan administrators and federal funds to rebuild the collapsed Francis Scott Key Bridge. The provisions were added after Johnson opened the door with a last-minute addition of&nbsp; $10 billion in aid for farmers.&nbsp;
Trump and Vice President-elect JD Vance blasted the proposed spending bill on Wednesday afternoon in a statement posted on social media.&nbsp;
<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">A statement from President Donald J. Trump and Vice President-Elect JD Vance: The most foolish and inept thing ever done by Congressional Republicans was allowing our country to hit the debt ceiling in 2025. It was a mistake and is now something that must be addressed.…
&mdash; JD Vance (@JDVance) <a href="https://twitter.com/JDVance/status/1869495076604227726?ref_src=twsrc%5Etfw">December 18, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Musk actively criticized the bill on his social media platform X throughout the day on Wednesday. He also posted victoriously on the platform after the bill was rejected.&nbsp;
<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">Your elected representatives have heard you and now the terrible bill is dead. The voice of the people has triumphed! VOX POPULI VOX DEI
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1869487359420727338?ref_src=twsrc%5Etfw">December 18, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
What's Next: Johnson, a Republican from Louisiana, has not outlined a backup plan and the next step remains unclear, according to sources familiar with the discussions,<a href="https://www.washingtonpost.com/business/2024/12/18/government-shutdown-house-vote-cr/"> per</a> the Washington Post. Most federal operations would shut down at 12:01 a.m. Saturday if Congress does not pass a bill to extend the deadline.  
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/24/12/42564443/santa-came-early-with-rate-cut-but-federal-reserve-brings-coal-next-year-experts-weigh-in-on-rate-cut-feds-2025-projections">&#8216;Santa Came Early&#8217; But Fed Brings &#8216;Coal Next Year&#8217;: Experts Weigh In On Interest Rate Cut, 2025 Projections</a></li>
</ul>
This image was generated using artificial intelligence via Dall-E 3.

House Republicans Reject Spending Bill Under Pressure From Trump, Musk: Government Faces Shutdown

Arista Networks (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ANET#NYSE">ANET</a>) has outperformed the market over the past 10 years by 27.96% on an annualized basis producing an average annual return of 38.9%. Currently, Arista Networks has a market capitalization of $136.68 billion. 
Buying $1000 In ANET: If an investor had bought $1000 of ANET stock 10 years ago, it would be worth $26,491.80 today based on a price of $108.50 for ANET at the time of writing.
<h3>Arista Networks's Performance Over Last 10 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1734563707_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.

ANET

Here's How Much You Would Have Made Owning Arista Networks Stock In The Last 10 Years

Catalyst Watch: Powell heads to Congress, eyes on CPI, and major banks report

ABNB

ACLS

AIEV

BCPC

BLBD

CHWY

CONN

CVNA

FCCN

FFIE

HELE

HLIO

KRUS

MANU

MGRC

PSMT

ROCK

SBBCF

SEDG

SSNLF

UBER

Bio Essence

The Dow Jones index closed lower by over 100 points on Monday. When insiders purchase or sell shares, it indicates their confidence or concern around the company&#8217;s prospects. Investors and traders interested in penny stocks can consider this a factor in their overall investment or trading decision.



Below is a look at a few recent notable insider transactions for penny stocks. For more, check out <a href="https://www.benzinga.com/sec/insider-trades/">Benzinga&#8217;s insider transactions</a> platform.



<h3 class="wp-block-heading">Expensify</h3>



<ul>
<li>The Trade: Expensify, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EXFY#NASDAQ">EXFY</a>) Director Timothy L Christen <a href="https://www.benzinga.com/sec/insider-trades/">bought a total of 19,162 shares</a> at an average price of $1.61. To acquire these shares, it cost around $30,851.</li>



<li>What's Happening: On May 9, Expensify posted downbeat quarterly results.</li>



<li>What Expensify Does: Expensify Inc is a cloud-based expense management software platform that helps various businesses simplify the way to manage money.</li>
</ul>



<h3 class="wp-block-heading">Bio Essence</h3>



<ul>
<li>The Trade: Bio Essence Corporation (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BIOE#OTC">BIOE</a>) CEO Yin Yan <a href="https://www.benzinga.com/sec/insider-trades/">acquired a total of 5,000,000 shares</a> at an average price of $0.50. To acquire these shares, it cost around $2.5 million.</li>



<li>What's Happening: The company&#8217;s stock jumped around 127% over the past month.</li>



<li>What Bio Essence Does: Bio Essence Corp is an herbal health, diet, and nutrition company. The Company&#8217;s mission is to provide herbal health, diet, and vitamin nutritional supplements.</li>
</ul>



<h3 class="wp-block-heading">Perspective Therapeutics</h3>



<ul>
<li>The Trade: Perspective Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CATX#NASDAQ">CATX</a>) CFO Jonathan Robert Hunt <a href="https://www.benzinga.com/sec/insider-trades/">acquired a total of 25,006 shares</a> at an average price of $1.40. The insider spent around $35,007 to buy those shares. The company's Director Robert F Williamson III also bought 55,000 shares of the company.</li>



<li>What's Happening: On May 24, Perspective Therapeutics announced the pricing of $80 million underwritten offering of common stock and pre-funded warrants.</li>



<li>What Perspective Therapeutics Does: Perspective Therapeutics Inc is a medical technology and radiopharmaceutical company that is pioneering various treatment applications for cancers throughout the body.</li>
</ul>



Now Read This: <a href="https://www.benzinga.com/news/24/06/39135431/top-3-utilities-stocks-that-may-plunge-in-q2">Top 3 Utilities Stocks That May Plunge In Q2</a>

Comments

Bio Essence

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Latest news for Bio Essence (OTC:BIOE) Stock

Tuesday, June 04, 2024

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