First Trust Exchange-Traded Fund II First Trust Bloomberg Emerging Market Democracies ETF (ARCA: EMDM)

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The Fund will normally invest at least 80% of its net assets (plus any borrowings for investment purposes) in the common stocks, depositary receipts, preferred shares, real estate investment trusts (REITs) and other securities that comprise the Index. The Fund intends to invest substantially all of its net assets in the investments that comprise the Index. The Fund, using a replication strategy, attempts to replicate, before fees and expenses, the performance of the Index. The Index is owned and was developed and sponsored by Bloomberg Index Services Limited (the Index Provider).

Taiwan Semiconductor Manufacturing Company Ltd.

Samsung Electronics Company Ltd

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Petroleo Brasileiro Sa:Pfd 0.000

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First Trust Bloomberg Emerging Market Democracies ETF

First Trust Exchange-Traded Fund II First Trust Bloomberg Emerging Market Democracies ETF

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HIVE

HIVE Digital's Green Energy Drive And AI Expansion Win Shareholder Support Ahead Of Key Meeting

<ul>
<li>The PATHWAY HER2 (4B5) test helps to identify patients with previously-treated,&nbsp;unresectable or metastatic HER2-positive biliary tract cancer (BTC) who may be eligible for treatment with ZIIHERA.</li>
<li>There are currently very few options for&nbsp;BTC patients as most cases are at an advanced stage at the time of diagnosis.</li>
<li>This approval represents a new indication for&nbsp;Roche's existing PATHWAY HER2 (4B5) test and expands its clinical utility by broadening the scope of patients who are eligible for HER2-targeted therapies.</li>
</ul>

RHHBF

RHHBY

RHHVF

Roche Wins FDA Approval For The First Diagnostic To Identify Biliary Tract Cancer Patients For HER2-Targeted Therapy With ZIIHERA

The Dogecoin Foundation, a non-profit building open-source projects for the Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) ecosystem, reshared an X post calling for equitable treatment for community-driven projects amid speculations of President-elect Donald Trump slashing capital gains tax on U.S.-issued cryptocurrencies.
What Happened: The Dogecoin Foundation shared arguments by a user called &#8220;junior developer,&#8221; who stated that the policy should be extended to all community-driven and open-source coins, not only those generated by U.S. companies.
&#8220;If I started a U.S. company to hardfork Dogecoin and the fact there&#8217;s a company behind it gives tax preference where classic Doge doesn&#8217;t get the same treatment, the Trump admin has chosen a network winner based on policy and preference. I reject that idea,&#8221; the user wrote.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">If the Trump administration is serious about reducing friction in cryptocurrency, they should apply this rule to community-driven, free and open source coins as well:<a href="https://t.co/p9igiFHCVE">https://t.co/p9igiFHCVE</a> Please like and RT this thread. 1/n
&mdash; &#x2623; junior developer &#x2623; (@chromatic_x) <a href="https://twitter.com/chromatic_x/status/1858904033861530113?ref_src=twsrc%5Etfw">November 19, 2024</a></blockquote>
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Junior developer added that penalizing cryptocurrencies backed by communities instead of companies could promote &#8220;crony capitalism.&#8221;
&#8220;And, this is bait, but if you&#8217;re railing against the global financial system doing exactly that with central banks, I think you should rail against a government doing it even if you like the government or parts of this policy,&#8221; he stated.
The Dogecoin team didn&#8217;t immediately respond to Benzinga&#8217;s request for additional commentary on this development.
See Also:&nbsp;<a href="https://www.benzinga.com/24/11/42151809/michael-saylor-reveals-microstrategy-is-making-500m-a-day-with-bitcoin-may-very-well-be-the-most-profitable-company-in-the-us-growing-the-fastest-right-now?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Michael Saylor Reveals MicroStrategy Is &#8216;Making $500M A Day&#8217; With Bitcoin: &#8216;May Very Well Be The Most Pro</a>
Why It Matters: The pushback comes in <a href="https://finance.yahoo.com/news/trump-bold-move-could-crypto-193455642.html">response to media reports</a> that Trump could potentially transform the U.S. into a tax-free crypto haven for tokens created by U.S. companies. However, no formal confirmation has come as yet.
For U.S. taxpayers, short-term capital gains on cryptocurrencies held for less than a year are taxed at regular income rates, ranging from 10-37% depending on income and tax bracket, while long-term gains for coins held over a year are taxed at a reduced rate of 0-20%.
Tanya Solati, vice president of business development at real estate transaction platform Propy, pointed out that current tax laws, which impose a capital gains tax on every crypto-to-fiat transaction, <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41608619/whats-stopping-wider-crypto-adoption-it-could-be-tax-policies-says-one-expert">make daily use impractical</a> and are a significant barrier to broader adoption.
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/24/11/42156092/elon-musk-sees-the-lighter-side-as-bitcoin-dips-after-jim-cramers-endorsement">Elon Musk Has A Laugh As Bitcoin Dips After Jim Cramer&#8217;s Endorsement</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.<a href="https://www.benzinga.com/apis?utm_source=benzinga.com&amp;utm_campaign=article-bottom" rel="noreferrer noopener" target="_blank"></a>

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

Cryptocurrency

Markets

$DOGE

Dogecoin Foundation Shares Message Against Trump's Tax Favoritism For US Crypto Firms

Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) and Rivian Automotive Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>) are nearing a settlement in a lawsuit over alleged theft of battery technology. The legal confrontation, which began in 2020, accused Rivian of recruiting Tesla employees to obtain confidential engineering data.
What Happened: Initially, Tesla alleged that Rivian hired ex-employees who brought sensitive documents with them.
The lawsuit later expanded to include claims of Rivian stealing core technology for advanced batteries. Despite efforts to settle outside of court, the case went to trial last year.
Tesla has informed the court of a conditional settlement agreement with Rivian, with plans to file for dismissal by Dec. 24, according to a Bloomberg <a href="https://www.bloomberg.com/news/articles/2024-11-22/tesla-says-it-s-settling-technology-theft-suit-against-rivian">report</a>. The settlement terms remain undisclosed.
See Also: <a href="https://www.benzinga.com/trading-ideas/technicals/24/11/42071715/lucid-forms-cross-as-gravity-suv-earnings-show-progress?itm_source=parsely-api">Lucid Forms Cross As Gravity SUV, Earnings Show Progress</a>
Tesla, known for its openness with patents, has maintained that Rivian&#8217;s actions were deliberate theft. The focus on &#8220;next-gen batteries&#8221; hints at the possible involvement of Tesla&#8217;s 4680 battery cells.
Rivian, on the other hand, plans to use a taller 4695 battery for its future vehicles.
Tesla and Rivian did not immediately respond to a <a href="https://pro.benzinga.com/dashboard">Benzinga</a> request for comment.
Why It Matters: The lawsuit&#8217;s roots trace back to July 2020, when <a href="https://www.benzinga.com/news/20/07/16744936/tesla-sues-rival-ev-maker-rivian-for-poaching-employees-stealing-intellectual-property">Tesla accused Rivian of employee poaching</a> and intellectual property theft. Tesla described an &#8220;alarming pattern&#8221; of Rivian hiring its employees and obtaining its trade secrets.
In August 2020, <a href="https://www.benzinga.com/news/20/08/17281377/ev-maker-rivian-taps-former-tesla-exec-as-top-engineer-despite-employee-poaching-lawsuit">Rivian hired Nick Kalayjian</a>, a former Tesla executive, as its top engineer, despite the ongoing lawsuit. This move highlighted the competitive nature of the electric vehicle industry and the strategic importance of engineering talent.
By August 2023, the case was still unresolved, with a California court <a href="https://www.benzinga.com/markets/equities/23/08/33545095/tesla-rivian-could-clash-in-california-court-over-trade-secrets-issue-what-you-need-to-know">tentatively denying requests for summary adjudication</a>, indicating the complexity and significance of the trade secrets involved.
Price Action: Tesla stock closed 3.80% higher on Friday at $352.56, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>. Rivian stock edged up 2.20% to close at $10.24 on Friday.
Check out more of Benzinga&#8217;s Future Of Mobility coverage by <a href="https://www.benzinga.com/topic/mobility">following this link.</a>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/24/11/42152721/tesla-cybertruck-part-of-donald-trumps-motorcade-will-vehicle-land-government-deals?itm_source=parsely-api">Tesla Cybertruck Part Of Donald Trump&#8217;s Motorcade, Will Vehicle Land Government Deals?</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photos courtesy: Tesla and Rivian

Legal

Tech

RIVN

TSLA

Tesla, Rivian Signal End To 4-Year Legal Battle Over Alleged Trade Secrets Theft

The Future Fund LLC Managing Partner Gary Black defended his firm&#8217;s Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) investment strategy amid criticism from Tesla bulls, emphasizing a disciplined approach to position management <a href="https://www.benzinga.com/24/11/42056286/tesla-is-back-in-gary-blacks-top-5-holdings">rather than short-term trading</a>.
What Happened: Black revealed that his fund&#8217;s average Tesla stock purchase price since early 2023 has been $162, while their average selling price reached $252. The disclosure came as The Future Fund recently trimmed its Tesla position at $351, following a 150% surge from April lows.
&#8220;That&#8217;s what professional investors do &#8211; buy low, sell high,&#8221; Black stated on X, addressing criticism from Tesla enthusiasts. &#8220;No one ever went broke by taking profits.&#8221;
The Future Fund began reducing its Tesla position in the fourth quarter of 2022 when it represented 12.2% of the portfolio, following Tesla&#8217;s 20% EV price cuts. 
The position now stands at 4.11% as of Nov 15, making Tesla <a href="https://www.benzinga.com/24/11/42056286/tesla-is-back-in-gary-blacks-top-5-holdings">the fifth-largest holding</a> in The Future Fund Active ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FFND#NYSE">FFND</a>), behind NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>), Salesforce Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NYSE">CRM</a>), and Netflix Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>).
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24TSLA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TSLA</a> uberbulls give me grief for trimming <a href="https://twitter.com/search?q=%24TSLA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TSLA</a> at $351 two weeks ago after TSLA had increased 150% since April. That's what professional investors do &#8211; buy low, sell high. Our avg sell price over the past two years is $252; our avg buy price has been $162. No one ever went… <a href="https://t.co/I93BRakb0L">pic.twitter.com/I93BRakb0L</a>
&mdash; Gary Black (@garyblack00) <a href="https://twitter.com/garyblack00/status/1860736331900424522?ref_src=twsrc%5Etfw">November 24, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/news/global/24/11/42156160/palantir-price-target-raised-to-75-by-dan-ives-amid-288-ytd-surge-analyst-calls-2025-a-primetime-year-for-ai">Palantir Price Target Raised To $75 By Dan Ives Amid 288% YTD Surge: Analyst Calls 2025 A &#8216;Primetime&#8217; Year For AI</a>
Why It Matters: Black pointed to Tesla&#8217;s earnings estimates being reduced by 59% since the price cuts, noting that competitors matched the reductions, resulting in minimal volume growth. Despite the recent rally, Tesla&#8217;s stock has underperformed the NASDAQ 100 index by 32 percentage points over the past three years.
The investment veteran expressed concern about <a href="https://www.benzinga.com/news/global/24/11/42028323/gary-black-defends-tesla-strategy-amid-clash-with-elon-musk-bulls-we-dont-trade-tesla-we-trim-when-the-price-goes-higher">growing polarization within the Tesla investor community</a>, noting that moderate voices face criticism for discussing potential risks. 
&#8220;In the X world, uberbulls bash fellow bulls personally for not being bullish enough. That does not happen in the real world. Portfolio discipline is rewarded, not criticized,&#8221; Black emphasized.
The debate comes amid increased attention on Tesla, with recent headlines highlighting the Cybertruck&#8217;s appearance in President-elect Donald Trump&#8216;s motorcade during a visit to SpaceX&#8217;s Starbase facility, potentially signaling new <a href="https://www.benzinga.com/news/24/11/42152721/tesla-cybertruck-part-of-donald-trumps-motorcade-will-vehicle-land-government-deals">opportunities in government and security sectors</a>.
Price Action: Tesla stock closed at $352.56 on Friday, up 3.80% for the day. After hours, the stock rose by 0.26%. Year-to-date, Tesla&#8217;s stock has surged by 41.92%, according to <a href="https://pro.benzinga.com/dashboard">data from Benzinga Pro</a>.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/24/11/42156013/bluesky-adds-millions-of-users-as-elon-musks-social-media-platform-faces-exodus-post-trump-win-here-are-a-few-starter-packs-to-help-you-get-going-on-latest-x-rival">Bluesky Adds Millions Of Users As Elon Musk&#8217;s X Faces Exodus Post Trump Victory: Here Are A Few Starter Packs To Help You Level Up On The Platform</a></li>
</ul>
Image Via Shutterstock 
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Equities

FFND

GOOGL

NFLX

NVDA

Gary Black Defends Tesla Trim At $351: 'No One Ever Went Broke By Taking Profits' Amid Stock's 150% Surge Since April

Over the weekend, Netflix Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) co-founder Marc Randolph shared his thoughts on wealth, pointing out that true financial security goes beyond material luxuries.
What Happened: Sharing his perspective on X, formerly Twitter, he shared how, despite having the means to buy expensive items like luxury cars or wines, he values practicality over prestige.
He gave an example of Microsoft co-founder Bill Gates – who currently has a net worth of $162 billion – would fly economy, not because he couldn't afford first class, but because he didn't see it as good value.
"In the same vein, I could afford a really nice car at this point, but I've never been a car guy, and I don't need a Lamborghini or a Mazerati [Maserati] (which I can't even spell)," he stated.
See Also: <a href="https://www.benzinga.com/24/11/42137039/disney-takes-on-netflix-with-high-impact-originals-in-asia">Disney Takes on Netflix With High-Impact Originals in Asia</a>
Adding, "I don't need to drop $1000 on a bottle of wine at dinner either, since I know I'll get the same enjoyment from a $35 bottle."
He concluded by saying that once basic needs are met, the key to wealth lies in flexibility — the ability to choose how to spend your time and prioritize meaningful experiences.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">For many years, Bill Gates used to fly Economy, not because he couldn't afford First Class, but because he didn't consider it good value. It's five or six times more expensive, but only marginally better (and you all get to your destination at the same time). In the same vein, I… <a href="https://t.co/qaGf49y6Yr">pic.twitter.com/qaGf49y6Yr</a>
&mdash; Marc Randolph (@mbrandolph) <a href="https://twitter.com/mbrandolph/status/1860737388773024252?ref_src=twsrc%5Etfw">November 24, 2024</a></blockquote>
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Why It Matters: As of Aug. 28, 2024, Randolph's net worth was at $100 million, <a href="https://www.celebritynetworth.com/richest-businessmen/ceos/marc-randolph-net-worth/">according</a> to Celebrity Net Worth.
He <a href="https://www.benzinga.com/markets/18/05/11764543/this-day-in-market-history-netflix-goes-public">co-founded Netflix</a> on Aug. 29, 1997, with Reed Hastings in Scotts Valley, California.&nbsp;
The inception of Netflix stemmed from Hastings&#8217; frustration with late <a href="https://www.benzinga.com/markets/company-news/10/08/445627/bye-bye-blockbuster-video-store-chain-to-file-bankruptcy-next-mont">fees incurred</a> at a Blockbuster store.
The Netflix website launched in April 1998, offering around 900 titles. By 1999, Netflix introduced a subscription model that allowed unlimited rentals for a monthly fee, eliminating late fees.
This approach set the foundation for the company&#8217;s evolution into a streaming giant, which began in 2007 when it transitioned to online streaming services.
In 2002, Netflix launched its <a href="https://www.benzinga.com/general/entertainment/24/04/38340753/if-you-invested-1-000-in-netflix-stock-at-its-ipo-heres-how-much-youd-have-today">initial public offering</a>, selling 5.5 million shares at $15 each. In the early years, the stock delivered impressive triple-digit returns to investors.
The streaming giant currently has a market capitalization of $383.76 billion, ranking at number 25 in the list world's most valuable companies.
Last month, Netflix reported $9.825 billion in <a href="https://www.benzinga.com/news/earnings/24/10/41391637/netflix-q3-earnings-revenue-beats-eps-tops-q4-guidance-projects-subscriber-boost-from-squid-game-nf">revenue for the third quarter</a>, marking a 15% increase compared to the previous year. This figure surpassed the Wall Street consensus estimate of $9.769 billion, according to data <a href="https://www.benzinga.com/pro/?utm_source=BZprocontent101724&amp;t=be2bearmibe3na1" target="_blank" rel="noreferrer noopener">from Benzinga Pro</a>.
Image: Wikimedia
Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/general/sports/24/11/42094958/netflix-faces-class-action-lawsuit-over-streaming-crashes-during-jake-paul-mike-tyson-fight">Netflix Faces Class-Action Lawsuit Over Streaming Crashes During Jake Paul, Mike Tyson Fight</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Netflix Co-Founder Marc Randolph Reveals Why True Wealth Isn't About Lamborghinis Or $1,000 Wines But The Freedom To Live Meaningfully

Salesforce Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NYSE">CRM</a>) CEO Marc Benioff has warned that the world is reaching the &#8220;upper limits&#8221; of large language models (LLMs) like OpenAI's ChatGPT.
What Happened: Last week, Benioff shared his thoughts on the future of AI in a <a href="https://www.wsj.com/podcasts/wsj-the-future-of-everything">podcast</a> with The Wall Street Journal.
He stated that the next phase of AI development will focus on <a href="https://www.benzinga.com/top-stories/24/10/41428765/microsoft-salesforce-battle-heats-up-as-ai-agent-technology-takes-center-stage">autonomous agents</a>, which can perform tasks independently, rather than relying on LLMs to drive advancements.
He argued that while AI tools like ChatGPT have received significant attention, the real potential lies in agents.
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/09/40848374/google-co-founder-sergey-brin-admits-company-was-too-timid-to-rollout-chatgpt-like-llms-despite-basi">Google Co-Founder Sergey Brin Admits Company Was &#8216;Too Timid&#8217; To Rollout ChatGPT-Like LLMs Despite Basically Inventing Them</a>
&#8220;Has the AI taken over? No. Has AI cured cancer? No. Is AI curing climate change? No. So we have to keep things in perspective here,&#8221; he stated.
Salesforce provides both prebuilt and customizable AI agents for businesses looking to automate customer service functions.
&#8220;But we are not at that moment that we&#8217;ve seen in these crazy movies — and maybe we will be one day, but that is not where we are today,&#8221; Benioff stated during the podcast.
ChatGPT-maker OpenAI is also reportedly <a href="https://www.benzinga.com/media/24/11/41964846/openais-operator-ai-agent-will-perform-tasks-like-coding-travel-booking-and-more-launch-expected-in-january-next-year-report">planning the launch</a> of its own set of agents.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Why It Matters: Previously, Nvidia Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) CEO Jensen Huang said that he believes humans will eventually work alongside AI agents and &#8220;AI employees.&#8221;
Last month, Nvidia announced its partnership with Accenture Plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACN#NYSE">ACN</a>) which aims to <a href="https://www.benzinga.com/markets/equities/24/10/41156669/jensen-huang-on-transformative-partnership-with-accenture-ai-as-digital-employees-will-revolutio">deploy AI agents across corporations</a>.
Last month, Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) also announced that businesses will be able to create their <a href="https://www.benzinga.com/top-stories/24/10/41428765/microsoft-salesforce-battle-heats-up-as-ai-agent-technology-takes-center-stage">own autonomous AI agents</a> starting in November. This development came after Salesforce introduced its AI tools in September with the launch of Agentforce.
Microsoft co-founder Bill Gates has also previously <a href="https://www.benzinga.com/news/24/11/41736493/microsoft-co-founder-bill-gates-says-everyone-in-future-will-have-a-utilitarian-ai-agent-that-will-h">echoed similar sentiments</a> as Huang.
Earlier, Tony Fadell, co-creator of the iPod, also voiced his concerns about LLMs, calling them &#8220;know-it-alls.&#8221; He acknowledged that while LLMs can be useful in areas like entertainment, they shouldn&#8217;t be universally adopted due to their <a href="https://www.benzinga.com/news/24/10/41616573/ipod-co-creator-tony-fadell-dismisses-chatgpt-type-llms-saying-were-trying-to-make-science-fiction-h">tendency to make mistakes</a>.
Image via Flickr
Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/management/24/11/41978942/salesforce-ceo-marc-benioff-bets-big-on-billion-bots">Salesforce CEO Marc Benioff Bets Big on Billion Bots</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Media

MSFT

Marc Benioff Says Future Of AI Not In Bots Like ChatGPT But In Autonomous Agents: We Aren't At The Moment Seen In Those 'Crazy' Movies

Australia&#8217;s Prime Minister Anthony Albanese announced a plan to ban social media use for children under 16, requiring platforms like Meta Platforms Inc,&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) Facebook and Instagram, TikTok, X (formerly Twitter), and Snap Inc.&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNAP#NYSE">SNAP</a>) Snapchat to <a href="https://www.benzinga.com/news/24/09/40784803/after-feud-with-elon-musk-and-mark-zuckerberg-australian-pm-anthony-albanese-set-to-ban-social-media">verify users&#8217; ages</a>.
What Happened: The government will trial an age-verification system, possibly including biometrics or government ID. Social media companies must destroy any personal data used for verification, with fines of up to $32 million for non-compliance, reported Reuters. 
&#8220;There will be very strong and strict privacy requirements to protect people&#8217;s personal information, including an obligation to destroy information provided once age has been verified,&#8221; Albanese said on Monday.
Critics, including Elon Musk, argue the bill may limit internet access for Australians. The government aims to pass the law by the end of the parliamentary year.
Read Next: 
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<li><a href="https://www.benzinga.com/news/global/24/11/42156160/palantir-price-target-raised-to-75-by-dan-ives-amid-288-ytd-surge-analyst-calls-2025-a-primetime-year-for-ai">Palantir Price Target Raised To $75 By Dan Ives Amid 288% YTD Surge: Analyst Calls 2025 A &#8216;Primetime&#8217; Year For AI</a></li>
</ul>
Image Via Shutterstock
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/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Government

Social Media

Global

SNAP

As Meta, TikTok, X And Snapchat Stare At Tough Under-16 Ban, Australia's PM Says Destroy Personal Data 'Once Age Is Verified' Or Risk $32M Fine

Renowned investment adviser&nbsp;Gary Black questioned the valuation of&nbsp;MicroStrategy Incorporated&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>), suggesting the company&#8217;s stock was significantly overpriced.
What Happened: In a recent X post, Black, managing partner at The Future Fund, expressed his confusion over MicroStrategy&#8217;s stock price. 
He pointed out that the company&#8217;s Bitcoin holdings, worth $31.2 billion when he made the observation, and its <a href="https://www.benzinga.com/news/24/11/41693867/microstrategy-shares-are-falling-today-what-you-need-to-know">net debt</a> of $4.2 billion equated to an equity value of $27 billion. However, the company&#8217;s stock market value stood at a whopping $106 billion. 
Black estimated that MicroStrategy&#8217;s&nbsp;shares should be worth about&nbsp;$105/share, a figure 75% lower than its current trading price. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24MSTR&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$MSTR</a> ‘s stock price makes no sense to me. MicroStrategy owned 331,200 bitcoins at last count, worth $31.2 billion at <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> =$100K, and has about $4.2 billion of net debt, which equates to $27B equity value. By comparison, MSTR's stock market value is $106 billion using the…
&mdash; Gary Black (@garyblack00) <a href="https://twitter.com/garyblack00/status/1859962141509292182?ref_src=twsrc%5Etfw">November 22, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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Black added that MicroStrategy&#8217;s core software business wasn&#8217;t contributing to growth. Indeed, the software segment recorded a 10.3% decline in year-on-year revenues. 
&#8220;It would be like a company issuing cash or debt and then buying marketable securities. No one will pay for growth from that since anyone can buy Bitcoin,&#8221; he argued. 
Black also ruled out valuing stocks based on future earnings expectations, instead opting to measure the stock&#8217;s fundamental business, in this case, MicroStrategy, in conjunction with the value of Bitcoin.
See Also:&nbsp;<a href="https://www.benzinga.com/24/11/42155866/bitcoin-recuperates-from-95k-dip-ethereum-dogecoin-slide-as-investors-prepare-for-thanksgiving-week-top-analyst-expects-btc-to-peak-around-this-time">Bitcoin Recovers From $95K Dip, Ethereum, Dogecoin Fall Ahead Of Thanksgiving Holiday: BTC Is &#8216;Crossing The Rubicon,&#8217; Says Expert</a>
Why It Matters: Black&#8217;s comments come in the wake of recent research by BitMEX, which <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42138209/microstrategy-trading-at-insane-256-premium-to-bitcoin-holdings-research-shows">showed that MicroStrategy is trading at a 256% premium</a> to the net asset value (NAV) of its Bitcoin holdings. The analysis connected the extreme valuation disparity to some financial regulators banning people from buying Bitcoin ETFs, leading them to buy MicroStrategy&#8217;s stock instead.
MicroStrategy&#8217;s aggressive Bitcoin acquisition strategy has been the subject of intense media coverage in recent weeks. The company&#8217;s co-founder,&nbsp;Michael Saylor, recently revealed that MicroStrategy is making $500 million a day as Bitcoin <a href="https://www.benzinga.com/24/11/42151809/michael-saylor-reveals-microstrategy-is-making-500m-a-day-with-bitcoin-may-very-well-be-the-most-profitable-company-in-the-us-growing-the-fastest-right-now">inched closer</a> to $100,000 for the first time in its history. 
Since the beginning of November, MicroStrategy&#8217;s stock has leaped 83%, while Bitcoin, the asset it holds on its books, has grown by 38%.
Price Action:&nbsp;At the time of writing, Bitcoin was trading at $97,638.71, down 0.85% in the last 24 hours, according to&nbsp;<a href="https://pro.benzinga.com/dashboard" target="_blank" rel="noreferrer noopener">Benzinga Pro data</a>. Shares of MicroStrategy closed 6.19% higher at $421.88 on Friday&#8217;s regular session.
Read Next:&nbsp;
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<li><a href="https://www.benzinga.com/general/social-media/24/11/42155884/economist-slams-doges-simplistic-approach-to-government-spending-questions-super-bowl-ad-criticism">Economist Slams DOGE: Tells Elon Musk-Led Initiative To &#8216;Do Your Legal Job Well&#8217; Amid Super Bowl Ad Spending Clash</a></li>
</ul>

MSTR

Are MicroStrategy's Shares Worth Only $105? Investment Adviser Gary Black Weighs In

Wedbush Securities has issued an endorsement of the artificial intelligence software sector, with Managing Director Dan Ives predicting that 2025 will be a pivotal year for AI implementation across the industry. This comes as Palantir Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>) continues its remarkable ascent, <a href="https://www.benzinga.com/24/11/42143996/daddys-home-palantir-creates-two-new-billionaires-after-trumps-win-both-own-less-than-2-stock-and-are-thiels-favorites">having surged 288% year-to-date</a>.
What Happened: In a notable sector-wide upgrade, Ives raised Palantir&#8217;s price target to $75 while upgrading both Elastic NV (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ESTC#NYSE">ESTC</a>) and Snowflake Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNOW#NYSE">SNOW</a>) to Buy ratings. He also increased Salesforce Inc.&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NYSE">CRM</a>) price target to $375, signaling broader confidence in the software sector&#8217;s AI potential.
&#8220;The AI Revolution is accelerating and now it&#8217;s the software sector that will benefit from the use case phase of AI set to be primetime in 2025,&#8221; Ives <a href="https://x.com/DivesTech/status/1860816966367281267">wrote</a>, adding, &#8220;Software AI age here.&#8221;
The bullish outlook aligns with <a href="https://www.benzinga.com/24/11/42094248/trumps-return-boosts-palantir-national-security-bets-drive-140-billion-market-cap">Palantir&#8217;s recent performance</a>, which has seen its market capitalization soar to approximately $140 billion, surpassing defense contractor Lockheed Martin Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>). The company&#8217;s growth has been particularly notable following recent political developments, with its stock reaching $61 per share.
See Also: <a href="https://www.benzinga.com/general/social-media/24/11/42155884/economist-slams-doges-simplistic-approach-to-government-spending-questions-super-bowl-ad-criticism">Economist Slams DOGE: Tells Elon Musk-Led Initiative To &#8216;Do Your Legal Job Well&#8217; Amid Super Bowl Ad Spending Clash</a>
Why It Matters: Palantir&#8217;s momentum is supported by concrete achievements, including a $480 million Pentagon contract for Project Maven and its first profitable year in 2023, reporting $144 million in <a href="https://www.benzinga.com/24/11/42094248/trumps-return-boosts-palantir-national-security-bets-drive-140-billion-market-cap">third-quarter net income</a>. 
The company has successfully expanded its <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/11/42039361/palantir-soars-to-150b-market-cap-as-analysts-flag-risks-in-valuation-insider-sales">commercial sector revenue</a> to 35% of total earnings, securing major contracts with CVS Health Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVS#NYSE">CVS</a>) and BP plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BP#NYSE">BP</a>).
However, some investors express caution regarding valuations. Major hedge funds, including Renaissance Technologies and ARK Investment Management, reduced their Palantir <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/11/42039361/palantir-soars-to-150b-market-cap-as-analysts-flag-risks-in-valuation-insider-sales">holdings in the third quarter</a>, though maintaining significant positions. 
The company&#8217;s P/E ratio of 328.85 and heavy retail investor base of approximately 50% have prompted discussions about <a href="https://www.benzinga.com/24/11/42094248/trumps-return-boosts-palantir-national-security-bets-drive-140-billion-market-cap">potential market volatility</a>.
Price Action: Palantir&#8217;s stock closed at $64.35 on Friday, gaining 4.87% during the regular trading session. In after-hours trading, the stock dipped slightly by 0.20%. Year-to-date, Palantir has seen a remarkable surge of 288.12%, according to <a href="https://www.benzinga.com/pro/">data from Benzinga Pro</a>.
Read Next: 
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<li><a href="https://www.benzinga.com/24/11/42155405/mcdonalds-spends-100-million-after-e-coli-outbreak-as-trust-and-love-must-be-rebuilt-says-chief-impact-officer">McDonald&#8217;s Spends $100 Million After E. Coli Outbreak As &#8216;Trust And Love&#8217; Must Be Rebuilt, Says Chief Impact Officer</a></li>
</ul>
Image Via Shutterstock 
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

ESTC

PLTR

SNOW

Palantir Price Target Raised To $75 By Dan Ives Amid 288% YTD Surge: Analyst Calls 2025 A 'Primetime' Year For AI

Tech mogul Elon Musk was amused by Bitcoin's (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) sudden pullback following financial analyst Jim Cramer&#8217;s bullish take on the leading cryptocurrency.
What happened: In a recent X post, Musk reacted with a laughing face and 100% emoji in response to a satirical post on the "Inverse Cramer" phenomenon.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">&#x1f602;&#x1f4af; <a href="https://t.co/PzkLsmVFz7">https://t.co/PzkLsmVFz7</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1860470986438545485?ref_src=twsrc%5Etfw">November 23, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
The story started Friday when Cramer, host of CNBC's Mad Money show and a former hedge fund manager, <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42144871/jim-cramer-says-own-bitcoin-thats-a-winner-crypto-community-scoffs-pack-up-your-bags-sell-everything">revealed owning Bitcoin</a> and called it a "clear winner."
Interestingly, Bitcoin, which was on the verge of reaching $100,000, retraced after Cramer&#8217;s advocacy and fell below $96,000 early Sunday.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42155055/crypto-analyst-bitcoin-poised-to-skyrocket-to-180k-and-eventually-top-1m">Crypto Analyst: Bitcoin Poised To Skyrocket To $180K and &#8216;Eventually&#8217; Top $1M</a>
Why It Matters: For the uninitiated, the "Inverse Cramer" phenomenon hinges on the belief that doing the opposite of what Cramer advises could lead to profits.
In fact, an exchange-traded fund (ETF) <a href="https://www.benzinga.com/etfs/specialty-etfs/24/01/36793492/exclusive-inverse-cramer-etf-shuts-down-how-the-magnificent-7-stocks-factor-in-and-a-broken-c">was floated in 2022</a>, allowing investors to bet against Cramer's predictions. The ETF eventually shut down earlier this year.
Even influential cryptocurrency analysts like Ali Martinez wrote, "Another sell signal," reacting to Cramer's endorsement.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Another sell signal&#8230;<a href="https://t.co/YlJv9oPocw">pic.twitter.com/YlJv9oPocw</a>
&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1860420443124981817?ref_src=twsrc%5Etfw">November 23, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
That said, there has been no definitive proof of counter-trading Cramer's predictions being a profitable strategy.
Price Action: At the time of writing, Bitcoin was trading at $97,556.56, down 1.03% 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>.&nbsp;
Read Next:&nbsp;
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42154900/crypto-expert-who-called-2022-market-crash-warns-about-bitcoin">Crypto Expert Who Called 2022 Market Crash Warns About Bitcoin</a></li>
</ul>

$BTC

Elon Musk Has A Laugh As Bitcoin Dips After Jim Cramer's Endorsement

Following the <a href="https://www.benzinga.com/news/24/11/41768178/donald-trump-defeats-kamala-harris-to-win-2024-election">2024 U.S. Presidential election</a>, a significant shift is happening in the social media landscape.&nbsp;
Many users, including Taylor Swift's fanbase, the Swifties, <a href="https://www.benzinga.com/24/11/41872302/taylor-swift-fans-abandon-elon-musks-x-for-bluesky-how-trumps-election-victory-triggered-swifties-uprising">have begun leaving</a> Elon Musk's X, formerly Twitter, for Bluesky, a rising social media platform.
In just a few days, Bluesky's user base surged from 14 million to 20 million, growing by a million new users each day.
This sudden influx follows dissatisfaction with Musk's social media platform, especially after the changes he introduced following the acquisition of Twitter, and now the 2024 election outcome.
Why Bluesky?
Bluesky offers a <a href="https://www.benzinga.com/general/social-media/24/11/42039681/x-vs-threads-vs-bluesky-does-elon-musks-social-media-site-still-reign-supreme">refreshing alternative</a> to X and Meta Platforms, Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) Threads.
Unlike Threads, which has minimized political content, Bluesky allows for more personalized, open conversations. Its open-source model, based on the AT Protocol, aims to empower users with greater control over their content and moderation.
With features like user-curated starter packs and decentralized governance, Bluesky has become a top choice for former X users looking for a platform that prioritizes user experience over corporate control.
See Also: <a href="https://www.benzinga.com/tech/24/11/42056367/how-to-safeguard-your-data-before-apples-deadline-step-by-step-guide-for-backing-up-ios-8-and-earlier-devices">How To Safeguard Your Data Before Apple&#8217;s Deadline: Step-By-Step Guide For Backing Up iOS 8 And Earlier Devices</a>
Getting Started With Bluesky: The Starter Packs
If you&#8217;re new to Bluesky, building your feed from scratch can be overwhelming. Thankfully, Bluesky's starter packs make this process easier.
Starter packs are user-curated lists of accounts, organized by interests, topics, or locations. They allow new users to quickly find and follow accounts that align with their interests without the tedious process of searching individually.
How To Find And Use Starter Packs
With over 86,000 starter packs available, you can browse them through the directory and search by keywords. Click <a href="https://blueskydirectory.com/starter-packs/all?q=">here</a> to access the directory.
You can either follow individual accounts or use the &#8220;follow all&#8221; button for faster results.
Here are some examples of user-created starter packs:&nbsp;
<figure class="wp-block-image size-large"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/23030750/Screenshot-2024-11-23-at-1.37.44%E2%80%AFPM-1024x641.png" alt="" class="wp-image-662038" /><figcaption class="wp-element-caption">Source: Bluesky</figcaption></figure>
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
<figure class="wp-block-image size-large"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/23031140/Screenshot-2024-11-23-at-1.41.30%E2%80%AFPM-1024x639.png" alt="" class="wp-image-662039" /><figcaption class="wp-element-caption">Source: Bluesky</figcaption></figure>
How To Create Your Own Starter Pack
In case, you want to create your unique starter pack, there are some easy steps you can follow.
Step I: Go to your profile on the mobile or desktop app.
Step II: Tap &#8220;Starter Packs&#8221; and select &#8220;Create.&#8221;
Step III: Name your pack, add a description, and choose users to include.
Step IV: Share your new pack with others through a post.
Image via Bluesky
Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
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</ul>
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Bluesky Adds Millions Of Users As Elon Musk's X Faces Exodus Post Trump Victory: Here Are A Few Starter Packs To Help You Level Up On The Platform

Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) recently unveiled its Black Friday 2024 promotion, running from Nov. 29 to Dec. 2, offering customers gift cards with the purchase of eligible products instead of direct discounts.
What Happened: Apple's Black Friday deals include gift cards ranging from $25 to $200, depending on the product. Here's a detailed breakdown:
iPhone: Customers can receive up to a $75 Apple Gift Card by purchasing an iPhone 15, iPhone 14, or iPhone SE.
Mac: Potential buyers can earn up to a $200 Apple Gift Card with purchases of MacBook Air 15-inch (M3), MacBook Air 13-inch (M3), or MacBook Air 13-inch (M2).
iPad: You can get up to a $100 gift card when buying an iPad Pro, iPad Air, or iPad (10th generation).
Apple Watch: Users can get a $50 Apple Gift Card with the Apple Watch SE while buying a new smartwatch.
AirPods: Receive up to a $75 gift card on AirPods Max, AirPods Pro 2, or AirPods 4.
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/09/41017367/huawei-riding-high-on-trifold-success-launches-revolutionary-laptop-powered-by-homegrown-chips-softw" target="_blank" rel="noreferrer noopener">Huawei, Riding High On Trifold Success, Launches Revolutionary Laptop Powered By Homegrown Chips, Software — China Ready To Break Free From US Tech Dependence?</a>
Apple TV &amp; Home: Buyers can get a $50 gift card with an Apple TV 4K or HomePod purchase.
Beats: You can earn up to a $50 Apple Gift Card on select Beats products, including Beats Studio Pro, Beats Solo Buds, and Beats Fit Pro.
Accessories: A $25 Apple Gift Card is available for accessories like the Magic Keyboard, Apple Pencil, and Smart Folios for iPads.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Why It Matters: The announcement follows weeks of early Black Friday sales from retailers like Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), Walmart (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>), and BestBuy Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBY#NYSE">BBY</a>), many of which feature <a href="https://www.benzinga.com/24/11/42041663/walmarts-black-friday-cyber-monday-huge-deals-on-electronics-toys-and-more">notable discounts</a> on Apple products.
However, customers who choose to shop directly with Apple can still benefit from the gift card promotion, particularly when paired with a device trade-in.
Apple Card users can also earn 3% cashback on their purchases, adding further value.
Price Action: At the time of writing, Apple shares rose by 0.035% to $229.95 in after-hours trading, following a 0.59% gain to $229.87 during Friday&#8217;s regular session, according to <a href="https://benzinga.grsm.io/lxquj26b2sag">Benzinga Pro data</a>.
Photo courtesy: Shutterstock
Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
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<li><a href="https://www.benzinga.com/news/global/24/11/42132104/huawei-to-launch-mate-70-smartphone-with-advanced-homegrown-chip-challenging-apple-in-china-amid-us-sanctions-report">Apple Faces New Challenge As Huawei Advances Domestic Chip Tech In Mate 70 Series Amid US Sanctions: Report</a></li>
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Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

AAPL

AMZN

Apple's 2024 Black Friday Deals: Gift Cards Over Discounts — Here's What You'll Get

Prominent economist Claudia Sahm has criticized the newly formed Department of Government Efficiency (DOGE) and <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">its leadership&#8217;s approach to government spending</a>, particularly regarding their stance on the U.S. Census Bureau&#8217;s 2010 Super Bowl advertisement.
What Happened: The controversy emerged after DOGE posted examples of government spending on X (formerly Twitter), including &#8220;$2.5 million on a Super Bowl Ad for the Census.&#8221; 
Former presidential candidate Vivek Ramaswamy, recently appointed as co-director of DOGE alongside Tesla Inc. CEO Elon Musk, responded that &#8220;the federal government shouldn&#8217;t be in the business of buying Super Bowl ads.&#8221;
Sahm, creator of the widely-referenced Sahm Rule indicator, countered Ramaswamy&#8217;s position, <a href="https://x.com/Claudia_Sahm/status/1860781540445163719">stating</a>, &#8220;Rule of thumb: the Census is in the Constitution. Do your legal job well.&#8221; She defended the Census Bureau&#8217;s decision, noting that the advertisement&#8217;s effectiveness could potentially save taxpayers money.
The Census Bureau had previously justified the $2.5 million expenditure, explaining that every 1% increase in mail-in responses would save $85 million in door-to-door collection costs.
Sahm expressed broader concerns about DOGE&#8217;s approach, stating, &#8220;There is so much good that &#8216;outside the box thinking&#8217; in the government could do… but it&#8217;s being wasted on destructive, simplistic thinking. DOGE is on track to be a wasted opportunity.&#8221;
See Also: <a href="https://www.benzinga.com/news/24/11/42154628/larry-page-google-co-founder-said-hed-leave-his-fortune-to-elon-musk-over-charity-because-of-his-plans-to-go-to-mars-to-back-up-humanity">Larry Page, Google Co-Founder, Said He&#8217;d Leave His Fortune To Elon Musk Over Charity Because Of His Plans &#8216;To Go To Mars To Back Up Humanity&#8217;</a>
Why It Matters: The economist also criticized DOGE&#8217;s focus on reducing resources and employees, arguing that some efficiency improvements would require additional investment. &#8220;A MASSIVE overhaul of the IT as one example would be huge,&#8221; she noted.
DOGE, announced by President-elect Donald Trump, aims to restructure federal agencies and reduce the government&#8217;s $6.5 trillion annual spending. 
The department has faced additional criticism from former Labor Secretary Robert Reich, who characterized it as &#8220;riddled with conflicts of interest,&#8221; particularly regarding Musk&#8217;s involvement given his companies&#8217; <a href="https://www.benzinga.com/politics/24/11/41962372/trumps-doge-with-musk-at-the-helm-riddled-with-conflicts-of-interest-says-clinton-era-official-robert-reich">federal contracts and ongoing investigations</a>.
The department is scheduled to complete its work by Jul 4, 2026, coinciding with America&#8217;s 250th independence anniversary.
DOGE&#8217;s acronym coincides with the cryptocurrency Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>), leading to a 30.79% price bump in the coin after the department's name was announced. Market speculation attributes this rise to Musk's known association with Dogecoin.
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<li><a href="https://www.benzinga.com/real-estate/24/11/42154835/24-of-democrats-say-trumps-election-made-them-less-likely-to-buy-a-home">24% Of Democrats Say Trump&#8217;s Election Made Them Less Likely To Buy A Home</a></li>
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Image via Flickr
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Economics

Economist Slams DOGE: Tells Elon Musk-Led Initiative To 'Do Your Legal Job Well' Amid Super Bowl Ad Spending Clash

Bitcoin recovered strongly from its morning fall as cryptocurrency investors prepared for Thanksgiving.
<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>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>-0.05%</td>
<td>$97,873.88</td>
</tr>
<tr>
<td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>-1.93%</td>
<td>$3,349.58</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>-3.03%</td>
<td>$0.4231</td>
</tr>
</tbody>
</table>
</figure>
What Happened: The leading cryptocurrency fell below $96,000 during the afternoon, only to recover losses as the evening progressed.
On Friday, the asset nearly reached the record $100,000 level before stalling due to a strong pushback from the bears.
Ethereum, the second-largest cryptocurrency by market capitalization, failed to replicate its senior token&#8217;s comeback, ending the 24-hour period down by nearly 2%.
The sharp correction caused mayhem in the cryptocurrency derivatives market, with over $511 million getting liquidated in the last 24 hours. About $380 million in leveraged long bets were wiped out.
Bitcoin's Open Interest (OI) dropped marginally by 0.20%, while the number of short positions for the coin surged dramatically against longs in the last 24 hours.
Market sentiment remained in the "Extreme Greed" zone, as per the Cryptocurrency Fear and Greed Index, signaling a desire to buy more.
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>The Sandbox (SAND)</td>
<td>+73.46%</td>
<td>$0.7739</td>
</tr>
<tr>
<td>Decentraland (MANA)</td>
<td>+31.24%</td>
<td>$0.7014</td>
</tr>
<tr>
<td>Tezos (XTZ)</td>
<td>+15.88%</td>
<td>$1.35</td>
</tr>
</tbody>
</table>
</figure>
The global cryptocurrency market capitalization stood at $3.33 trillion, following a marginal contraction of 0.69% in the last 24 hours.
Stock futures inched higher Sunday night. The Dow Jones Industrial Average Futures rose 226 points, or 0.51%, as of 7:45 p.m. EDT.&nbsp; Futures tied to the S&amp;P 500 gained 0.42%, while Nasdaq 100 Futures added 0.49%.
The shortened Thanksgiving trading week would see the release of October's personal consumption expenditure (PCE) data, the Federal Reserve's preferred inflation measure.
.See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>
Analyst Notes: In a note to Benzinga, Chris Kline, COO and Co-Founder of BitcoinIRA, noted a significant interest in Bitcoin.
"Bitcoin appears to be crossing the Rubicon, garnering enthusiasm among those discussing economic policy at the national level, both in the US and across the globe," Kline said.
He also highlighted the elevation of <a href="https://www.benzinga.com/24/11/42028576/rfk-jr-stands-firm-on-bitcoin-as-currency-of-freedom-says-howard-lutnik-as-treasury-secretary-will-be-best-for-apex-crypto">Bitcoin proponents</a> to cabinet-level positions in the incoming Donald Trump administration, potentially making "murky regulatory waters" clear.
Widely-followed cryptocurrency analyst Ali Martinez predicted Bitcoin to peak between June and September 2025 in the ongoing bull cycle.
"Long-term Bitcoin holders are showing signs of growing greed! Historically, this behavior suggests it could take 8–11 months for BTC to hit a market top,&#8221; Martinez 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">Long-term <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> holders are showing signs of growing greed! Historically, this behavior suggests it could take 8-11 months for <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> to hit a market top. If the trend holds, we might see a potential peak between June and September 2025! <a href="https://t.co/UacfaQb5VW">pic.twitter.com/UacfaQb5VW</a>
&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1860708957213659648?ref_src=twsrc%5Etfw">November 24, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
 Photo by Igor Faun on Shutterstock 
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42155055/crypto-analyst-bitcoin-poised-to-skyrocket-to-180k-and-eventually-top-1m">Crypto Analyst: Bitcoin Poised To Skyrocket To $180K and &#8216;Eventually&#8217; Top $1M</a></li>
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Movers

Trading Ideas

$ETH

Bitcoin Recovers From $95K Dip, Ethereum, Dogecoin Fall Ahead Of Thanksgiving Holiday:  BTC Is 'Crossing The Rubicon,' Says Expert

<a href="https://www.benzinga.com/personal-finance/24/11/41817396/suze-orman-warns-its-on-you-to-make-sure-you-have-the-right-coverage-for-2025-and-beyond-dont-re">Suze Orman&#8217;s</a> blog post outlines her advice for staying financially healthy this holiday season. It's worth listening to, especially with inflation still pinching wallets. Her message is simple: don't let holiday spending throw your finances off track, no matter how tempting it is to splurge on loved ones.&nbsp;
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She says, &#8220;True generosity is when a gift is as kind to the giver as it is to the recipient.&#8221; In other words, if gift-giving means adding to your debt, it's time to rethink your approach.
One of her biggest warnings is about credit card debt, which is a massive issue right now. According to WalletHub, the average interest rate on credit cards is about 22%. Carrying a balance at that rate can quickly spiral into financial trouble.&nbsp;
Orman advises skipping gifts altogether if you can't pay off your card balance in full. The same goes for those Buy Now, Pay Later (BNPL) services, which might look like a good deal but can lead to trouble if you miss payments. NerdWallet recently reported that about 37% of BNPL users pay late fees, which can snowball into even bigger expenses.
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If you have high-interest debt, Orman suggests paying it down instead of spending on gifts. She encourages creative, low-cost gifting ideas for those on steadier financial ground.&nbsp;
Think of offering your time or talents – babysitting, helping with home projects or making something handmade. Orman and her wife KT only exchange homemade gifts, which she says are the most meaningful.
If pressured to meet social expectations, Orman suggests honest conversations with family and friends. "People who truly care for you will understand and support your decision to stand in financial truth," she says. A thoughtful conversation can relieve pressure and help others shift their priorities.
Trending: The average American couple has saved this much money for retirement —<a href="http://www.benzinga.com/money/smartasset"> How do you compare</a>?
Orman offers a simple financial checkup to help you gauge your holiday spending readiness. Can you pay off your credit card bills in full each month? Do you have an<a href="https://www.benzinga.com/personal-finance/24/08/40531988/you-dont-need-emergency-savings-says-grant-cardone-claims-that-three-months-of-savings-in-case-o"> emergency fund</a> that covers at least eight months of expenses? Are you consistently saving for retirement?&nbsp;
If you answered "no" to any of these, Orman advises holding back on discretionary spending. Instead, focus on small, manageable steps to improve your financial foundation – automating savings, tackling debt and sticking to a budget can make a difference.
The timing of Orman's advice couldn't be more relevant. Inflation remains stubborn and experts are still discussing the possibility of a recession.&nbsp;
According to a report by AP News, The National Retail Federation (NRF) forecasts that U.S. holiday sales in 2024 will increase by 2.5% to 3.5%, amounting to $979.5 billion to $989 billion. This growth rate is slower than the 3.9% increase in 2023 as many households tighten budgets.&nbsp;
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Personal Finance

Suze Orman Says This Holiday Choice Could Make Or Break Your Budget – Here's Why You Must Decide Now

McDonald&#8217;s is pulling out all the stops to rebuild its reputation and lure customers back after an E. coli outbreak linked to slivered onions in its Quarter Pounder hamburgers. The fast-food giant has reportedly earmarked $100 million for recovery efforts, including marketing and franchisee support to address the fallout.
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The outbreak infected more than 100 people across 14 states, hospitalized 34 and tragically claimed one life, according to the <a href="https://www.cdc.gov/ecoli/outbreaks/e-coli-O157.html">Centers for Disease Control and Prevention.</a> The CDC traced the source to a supplier that has since recalled the product, Business Insider reported. Still, McDonald's is feeling the heat.
The company acknowledged the toll in its third-quarter earnings report, which revealed a decline in-store visits and daily sales as cautious customers stayed away. McDonald&#8217;s <a href="https://www.benzinga.com/insights/short-sellers/24/11/42096504/how-is-the-market-feeling-about-mcdonalds">stock has dropped over 7% in the past month. </a>The crisis has had a broad impact on business.
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To regain customer trust, McDonald's is spending $35 million on marketing campaigns, including a new TV ad promoting a limited-time offer of 10 Chicken McNuggets for just $1 via the McDonald&#8217;s app. The campaign aims to draw customers back with deals that highlight familiar favorites.
An additional $65 million is being directed to support the franchisees hit hardest by the outbreak. These funds will cover operational losses and other costs as local operators work to recover from the health scare&#8217;s effects on traffic and sales.
Michael Gonda, McDonald&#8217;s Chief Impact Officer for North America and Tariq Hassan, Chief Marketing and Customer Experience Officer, addressed the crisis head-on in a memo seen by CNN. &#8220;The relevance, trust and love for the Golden Arches has been hard-earned over nearly 70 years by our unwavering commitment to do the right thing,&#8221; they wrote. &#8220;The past three weeks have only further exemplified that.&#8221;
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The fallout has demonstrated the importance of food safety and customer loyalty in maintaining McDonald's iconic brand. As the company <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41494741/mcdonalds-well-positioned-to-contain-e-coli-outbreak-analysts-say-impact-minimal-co">works to restore confidence,</a> the memo clarifies that rebuilding &#8220;trust and love&#8221; is a top priority.
While the company's recovery plan is strong, the future remains uncertain. Analysts and investors will watch closely to see whether McDonald's can successfully rebound from the crisis and reignite customer enthusiasm. The Golden Arches are betting on turning a tough situation into an opportunity to show resilience and commitment to its customers.
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McDonald's Spends $100 Million After E. Coli Outbreak As 'Trust And Love' Must Be Rebuilt, Says Chief Impact Officer

A leading analyst has suggested that Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) could potentially skyrocket to $180,000 and eventually reach a <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38240233/crypto-analyst-unveils-reasons-behind-latest-altcoin-crash-forecasts-rebound-amid-turmoil">seven-figure valuation</a>.
What Happened: The prominent analyst, known by the pseudonym Pentoshi, projected a bullish future for Bitcoin. Pentoshi anticipates that Bitcoin could rise by approximately 82% from its present value.
In a post on X, Pentoshi posits that this expected price surge is merely a stepping stone in Bitcoin&#8217;s path to exceeding the $1 million mark. 
He stated, &#8220;Eventually&nbsp;one day over $1 million.&nbsp;If you zoom out and&nbsp;think bigger. Hard to do&nbsp;when we live day to&nbsp;day at times. $180,000 still&nbsp;in 2026 at the latest&nbsp;in my opinion. Eventually higher&nbsp;than we all imagined.&#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">Eventually one day over a milli. If you zoom out and think bigger. Hard to do when we live day to day at times 180k still in 2026 at latest imo Eventually higher than we all imagined <a href="https://t.co/3hvM2g91u2">https://t.co/3hvM2g91u2</a>
&mdash; &#x1f427; Pentoshi (@Pentosh1) <a href="https://twitter.com/Pentosh1/status/1859871839289475411?ref_src=twsrc%5Etfw">November 22, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
<figcaption class="wp-element-caption">Moreover, Pentoshi envisions the wider crypto market entering a parabolic phase, providing substantial earning potential in the coming months. However, he warns that such advances are not sustainable over the long haul.</figcaption></figure>
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42049183/heres-how-a-bitcoin-whale-nets-179m-from-a-120-investment">Here&#8217;s How A Bitcoin Whale Nets $179M From A $120 Investment</a>
At the time of writing, Bitcoin was trading at $97,326.69, down by almost 2% in the last 24 hours. 
Why It Matters: Pentoshi&#8217;s prediction comes at a time when Bitcoin and other cryptocurrencies are gaining mainstream acceptance. 
The potential surge in Bitcoin&#8217;s value underscores the growing interest and investment in the crypto market. However, it&#8217;s important to note that while the crypto market offers significant earning potential, it also comes with risks, as highlighted by Pentoshi&#8217;s caution about the sustainability of these advances. 
The crypto market is known for its volatility, and investors should be prepared for potential fluctuations in value.
Read Next
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Crypto Analyst: Bitcoin Poised To Skyrocket To $180K and 'Eventually' Top $1M

Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), the world&#8217;s largest cryptocurrency by market cap, could potentially hit a staggering $125,000 by the end of this year.
What Happened: According to predictions <a href="https://kalshi.com/markets/kxbtcmaxy/how-high-will-bitcoin-get-this-year">by</a> betting platform Kalshi, an 85% probability of Bitcoin reaching $100,000 by the close of 2024. The data also suggests a possibility of Bitcoin&#8217;s price surpassing $125,000 by year&#8217;s end.
The platform even sees a 9% chance of Bitcoin breaking the $150,000 mark,&nbsp;with an outside bet of&nbsp;it soaring to $250,000 or more.
<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">Bitcoin continues to climb Now an 85% chance it will hit $100K before December <a href="https://t.co/2vHUZQUPCm">pic.twitter.com/2vHUZQUPCm</a>
&mdash; Kalshi (@Kalshi) <a href="https://twitter.com/Kalshi/status/1859666875631927546?ref_src=twsrc%5Etfw">November 21, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Despite Bitcoin not yet breaching the $100,000 mark, the consensus among experts is that it&#8217;s a question of &#8220;when,&#8221; not &#8220;if.&#8221; 
Bitcoin has already witnessed a nearly 40% surge in November and a 55% rise&nbsp;in Q4 overall, making this&nbsp;year almost as profitable&nbsp;as the last quarter of&nbsp;2023.
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42049183/heres-how-a-bitcoin-whale-nets-179m-from-a-120-investment">Here&#8217;s How A Bitcoin Whale Nets $179M From A $120 Investment</a>
As per the report, Exchange-Traded Funds (ETFs) have played a pivotal&nbsp;role, absorbing over 90% of&nbsp;sell-side pressure from Long-Term Holders. 
The U.S. ETFs recorded their most successful week&#8217;s inflows since their inception&nbsp;in the five trading days&nbsp;through Nov. 22. Total assets&nbsp;under management now exceed $100 billion.
Why It Matters: The bullish forecast for Bitcoin comes at a time when the cryptocurrency market is experiencing unprecedented growth. 
The potential for Bitcoin to reach these high price points is indicative of the increasing acceptance and adoption of cryptocurrencies. 
ETFs, in particular, have been instrumental in driving this growth, providing a more accessible and regulated means for investors to gain exposure to Bitcoin. 
As more investors turn to Bitcoin as a store of value and hedge against inflation, the upward trajectory of its price is likely to continue.
Read Next
<a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41869087/kiyosaki-aims-to-own-100-bitcoins-by-2025-i-wish-bitcoin-was-back-to-10-a-coin-but-wishing-has-never-made-poor-people-richer">Kiyosaki Aims To Own 100 Bitcoins By 2025: &#8216;I Wish Bitcoin Was Back To $10 A Coin, But Wishing Has Never Made Poor People Richer&#8217;</a>
Image: Shutterstock

Bitcoin's Bull Run: Betting On A $125K Finish To 2024

Retirement savings plans like IRAs and 401(k)s are often promoted as key tools for securing <a href="https://www.benzinga.com/personal-finance/24/11/41918104/are-you-on-track-to-retire-rich-heres-the-nest-egg-you-need-to-be-considered-a-wealthy-retiree">financial stability in retirement</a>. However, new findings from the Employee Benefit Research Institute (EBRI) reveal that these accounts play a surprisingly limited role in retirees&#8217; overall income.
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The 2024 EBRI Spending in Retirement Survey, conducted among 3,600 American retirees aged 62 to 75, offers fresh insights into the income landscape for this demographic.&nbsp;
According to the study, IRAs provide income for 20% of retirees, while 401(k)-style workplace retirement plans are an income source for 17%. However, these plans&#8217; contribution to total income is modest. On average, IRAs account for 10% of retirees' income and 401(k)-like plans contribute 15%.
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<h2 class="wp-block-heading">Retirement Income Sources</h2>
IRAs and 401(k)s are just one part of the complex retirement income picture. The relatively small contribution these funds make to total retirement income demonstrates the importance of other income sources in retirement.&nbsp;
<a href="https://www.benzinga.com/personal-finance/24/11/41882904/think-youll-get-full-social-security-missing-this-35-year-window-could-cost-you-thousands">Social Security</a> is a critical income source for many retirees, with nearly 92% of those aged 65 and older receiving benefits from this program, according to Federal Reserve data. Other sources of retirement income from this data include (with the percentage of retirees that have that income source):
<ul>
<li>Pensions (56%)</li>
<li>Interest, dividends or rental income (42%)</li>
<li>Wages, salaries or self-employment (32%)</li>
<li>Cash transfers, other than Social Security (9%)</li>
</ul>
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<h2 class="wp-block-heading">Income Versus Expenses</h2>
Retirees face financial challenges when their income doesn't align with their expenses. The Motley Fool reports that the median annual income for <a href="https://www.benzinga.com/personal-finance/24/10/41185972/is-65-too-early-to-retire-new-research-says-it-might-be-45-of-households-are-expected-to-run-out">Americans aged 65 and older</a> is $50,290, while their average annual expenditures are about $57,818.
The average Social Security check is close to $1,900, often only replacing about 40% of the beneficiary's preretirement income. Retirees primarily relying on this income source have a substantial gap to fill. Financial experts recommend having a goal of saving or finding enough retirement income sources to replace 70-80% of your preretirement income, meaning Social Security alone won't be enough.&nbsp;
Trending: Many are using this retirement income calculator to check if they&#8217;re on pace —<a href="https://www.benzinga.com/money/how-do-i-calculate-my-retirement-income-adv"> here&#8217;s a breakdown on how on what&#8217;s behind this formula.</a>
<h2 class="wp-block-heading">What Limited Savings Mean for Retirees</h2>
The small role that IRAs and 401(k)s play in <a href="https://www.benzinga.com/personal-finance/24/11/42070971/suze-orman-warns-3-million-isnt-enough-for-retirement-even-at-a-mere-3-withdrawal-rate-she-says-you-need-10-million-or-more">retirement income</a> can lead to financial struggles for many older Americans. According to the National Council on Aging, nearly 45% of people aged 60 and up have trouble covering basic expenses. Pew Research estimates that by 2040, about 32.6 million retirement-age households will have yearly incomes below $75,000. On average, those households will face a $7,050 gap between their income and needs.
While IRAs and 401(k)s are great tools for growing savings and offering tax advantages, they're not always enough to carry you through retirement on their own.
For those nearing retirement, now is a good time to review your financial plan and consider where your income will come from. A <a href="https://www.benzinga.com/money/best-online-financial-advisors">financial advisor</a> can help you review and plan for a comfortable retirement.&nbsp;
Read Next:
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<li>Can you guess how many Americans successfully retire with $1,000,000 saved?<a href="https://www.benzinga.com/money/1milsaved"> The percentage may shock you</a>.</li>
<li><a href="https://www.benzinga.com/money/62-years-old-with-1-mil-saved">I&#8217;m 62 Years Old And Have $1.2 Million Saved. Is This Enough to Retire Stress-Free?</a></li>
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