HighPeak Energy

HighPeak Energy Inc is an independent oil and natural gas company focused on the development of unconventional oil and natural gas reserves in Howard County of the Midland Basin. The company operates in a single segment, which is oil and natural gas development, exploration, and production.

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HighPeak Energy Inc

OpenAI has launched GPT-4.5, its largest and most advanced chat model to date, <a href="https://www.benzinga.com/25/02/43970279/alibaba-and-deepseek-intensify-ai-showdown-challenging-openai-and-nvidias-market-dominance">amid growing competition from rivals</a> like xAI&#8216;s Grok 3 and DeepSeek.
What Happened: The company is rolling out the model first to ChatGPT Pro subscribers paying $200 monthly, with plans to extend access to Plus, Team, Enterprise, and Edu users over the coming weeks. This staggered approach reflects OpenAI&#8217;s strategy to manage ongoing GPU shortages and high demand.
The model was trained on Microsoft Corp.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) Azure AI supercomputers and represents a significant shift toward scaling unsupervised learning.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Today we're releasing a research preview of GPT-4.5—our largest and best model for chat yet. Rolling out now to all ChatGPT Pro users, followed by Plus and Team users next week, then Enterprise and Edu users the following week. <a href="https://t.co/br5win5OEB">pic.twitter.com/br5win5OEB</a>
&mdash; OpenAI (@OpenAI) <a href="https://twitter.com/OpenAI/status/1895219591070261266?ref_src=twsrc%5Etfw">February 27, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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&#8220;GPT-4.5 is ready!&#8221; OpenAI CEO Sam Altman announced on X. &#8220;It is the first model that feels like talking to a thoughtful person to me. I have had several moments where I&#8217;ve sat back in my chair and been astonished at getting actually good advice from an AI.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">GPT-4.5 is ready! good news: it is the first model that feels like talking to a thoughtful person to me. i have had several moments where i&#39;ve sat back in my chair and been astonished at getting actually good advice from an AI. bad news: it is a giant, expensive model. we…
&mdash; Sam Altman (@sama) <a href="https://twitter.com/sama/status/1895203654103351462?ref_src=twsrc%5Etfw">February 27, 2025</a></blockquote>
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Altman acknowledged supply constraints affecting the rollout: &#8220;We really wanted to launch it to plus and pro at the same time, but we&#8217;ve been growing a lot and are out of GPUs. We will add tens of thousands of GPUs next week and roll it out to the plus tier then.&#8221;
According to OpenAI&#8217;s blog <a href="https://openai.com/index/introducing-gpt-4-5/">post</a>, GPT-4.5 represents a significant advancement in scaling unsupervised learning, resulting in a broader knowledge base, improved intent understanding, and enhanced emotional intelligence. The model shows reduced hallucination rates compared to previous versions, with SimpleQA accuracy reaching 62.5% versus GPT-4&#8217;s 38.2%.
See Also: <a href="https://www.benzinga.com/general/social-media/25/02/43997193/jeff-bezos-washington-post-overhaul-draws-oligarch-remark-from-bernie-sanders-elon-musk-calls-amazon-founder-a-bravo">Jeff Bezos&#8217; Washington Post Overhaul Draws &#8216;Oligarch&#8217; Remark From Bernie Sanders — Elon Musk Says &#8216;Bravo&#8217; To Amazon Founder</a>
Why It Matters: Human testers preferred GPT-4.5 over GPT-4o in multiple categories, with the model winning 63.2% of professional queries and 56.8% of creative intelligence queries.
Unlike OpenAI&#8217;s reasoning-focused models like o1 and o3-mini, GPT-4.5 doesn&#8217;t incorporate &#8220;thinking before responding&#8221; capabilities. Instead, it focuses on text-based interactions without multimodal features like Voice Mode, video, and screensharing.
&#8220;This isn&#8217;t a reasoning model and won&#8217;t crush benchmarks,&#8221; Altman noted. &#8220;It&#8217;s a different kind of intelligence and there&#8217;s a magic to it I haven&#8217;t felt before.&#8221;
The model is available to developers through OpenAI&#8217;s API suite, though the company warned its compute-intensive nature makes it more expensive than GPT-4o.
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Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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Sam Altman Calls It 'Magic' As OpenAI Rolls Out GPT-4.5: 'Feels Like Talking To A Thoughtful Person To Me'

Major U.S. indices closed lower on Thursday, with the Dow Jones Industrial Average slipping 0.45% to 43,239.50, the S&amp;P 500 losing nearly 1.6% to 5,861.57, and the Nasdaq tumbling about 2.8% to 18,544.42.
These are the top stocks that gained the attention of retail traders and investors through the day:
NVIDIA Corporation&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>)
NVIDIA shares dipped 8.48% to close at $120.15 after hitting an intraday high of $135.01 and low of $120.01. The 52-week range for the stock is $153.13 to $75.61. Despite posting record revenue of $39.3 billion for the <a href="https://www.benzinga.com/trading-ideas/movers/25/02/44012061/nvidia-shares-dip-despite-strong-q4-earnings-beat-record-revenue-whats-going-on">fourth quarter</a>, the stock experienced a sell-off. 
Advanced Micro Devices Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>)
AMD shares fell 4.99% to close at $99.51, with an intraday high of $105.76 and low of $99.50. The stock&#8217;s 52-week range is $227.30 to $99.50. The stock has been under pressure, hitting a new 52-week low, as rival Nvidia&#8217;s <a href="https://in.benzinga.com/trading-ideas/technicals/25/02/44015147/nvidia-rival-amd-hits-52-week-lows-buying-opportunity-or-more-pain-ahead">strong earnings underscored</a> its dominance in the AI chip race. 
Archer Aviation Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACHR#NYSE">ACHR</a>)
Archer Aviation shares dropped 3.53% to close at $7.92, after hitting an intraday high of $8.64 and low of $7.87. The 52-week range for the stock is $12.48 to $2.82. The company reported a <a href="https://www.benzinga.com/news/earnings/25/02/44028619/archer-aviation-stock-falls-on-q4-earnings-the-details">larger-than-expected loss</a> for the fourth quarter, missing analyst estimates. Fourth-quarter loss came in at $1.42 per share, which was below the analyst estimates of $1.24 per share.
Rocket Lab USA Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RKLB#NASDAQ">RKLB</a>)
Rocket Lab shares slid 6.68% to close at $19.83, with an intraday high of $22.16 and a low of $19.76. The stock&#8217;s 52-week range is $33.34 to $3.47. Despite beating revenue estimates for the fourth quarter, the shares fell due to soft guidance. Revenue for the period came in at $132.39 million, which beat the estimate of $130.58 million. The company reported a fourth-quarter loss of 10 cents per share, in line with estimates.
Tesla Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)
Tesla shares declined 3.04% to close at $281.95, after hitting an intraday high of $297.23 and low of $280.88. The 52-week range for the stock is $488.54 to $138.80. The company has applied for a <a href="https://www.benzinga.com/news/25/02/44020824/tesla-seeks-california-ride-hailing-permit-amid-declining-ev-sales">transportation charter-party carrier permit</a> in California, indicating its intent to enter the ride-hailing market. 
Prepare for the day&#8217;s trading <a href="https://editorial.benzinga.com/wp-admin/Premarket%20Movers%20&amp;%20News">with top premarket movers and news</a> by Benzinga.
Image via Shutterstock
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

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Alphabet Inc.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) subsidiary Google is implementing new layoffs in its human resources and cloud divisions as part of ongoing cost-cutting efforts while it increases investment in artificial intelligence infrastructure.
What Happened: The company will offer voluntary buyouts to U.S.-based employees in its &#8220;People Operations&#8221; division starting in March, according to an internal memo from HR chief Fiona Cicconi <a href="https://www.cnbc.com/2025/02/27/google-makes-cuts-to-hr-and-cloud-units.html">viewed</a> by CNBC. Mid to senior-level employees may receive severance packages of 14 weeks&#8217; salary plus one additional week for each year of service.
Separately, Google&#8217;s cloud unit is facing layoffs primarily affecting operations support staff. Some roles are being relocated to India and Mexico City, though the company stated its largest employee presence for cloud will remain in the U.S.
Google did not immediately respond to&nbsp;<a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga</a>'s request for comment.
See Also: <a href="https://www.benzinga.com/general/space/25/02/44027404/rocket-lab-q4-earnings-revenue-beat-eps-beat-new-satellite-product-multi-launch-agreement-shares-slide-on-soft-guidance">Rocket Lab Q4 Earnings: Revenue Beat, EPS Beat, New Satellite Product, Multi-Launch Agreement, Shares Slide On Soft Guidance</a>
Why It Matters: The cloud division, which saw 30% revenue growth in <a href="https://www.benzinga.com/25/02/43479274/alphabet-q4-earnings-highlights-ai-cloud-youtube-momentum-continues-capex-guidance-sends-shares-lower">the fourth quarter</a> compared to the previous year, remains a high-growth business unit benefiting from AI products. Alphabet has been generating profit from its cloud business while competing with market leaders Amazon Web Services and Microsoft Azure.
These reductions follow comments from CFO Anat Ashkenazi, who recently identified cost-cutting as a top priority while Google expands AI infrastructure spending in 2025. After <a href="https://www.benzinga.com/25/02/43479274/alphabet-q4-earnings-highlights-ai-cloud-youtube-momentum-continues-capex-guidance-sends-shares-lower">reporting fourth-quarter revenue</a> that missed expectations on Feb. 3, Ashkenazi noted Google &#8220;exited the year with more demand than we had available capacity&#8221; for AI products.
These latest cuts follow January&#8217;s announcement of buyout offers to employees in Google&#8217;s &#8220;Platforms and Devices&#8221; unit, which houses over 25,000 full-time employees working on products including Android, Chrome, Pixel, and Nest.
Price Action: Alphabet Inc. Class A closed at $168.50, down 2.45%, and dipped to $168.38 after hours on Thursday. Class C ended at $170.21, down 2.57%, slipping to $170.16 after hours, according to <a href="https://pro.benzinga.com/dashboard">data from Benzinga Pro</a>.
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Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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<a href="https://www.benzinga.com/25/02/43930916/elon-musks-x-eyes-44-billion-comeback-amid-trumps-victory-a-major-turnaround-after-losing-72-of-its-value">Elon Musk</a> isn't just fighting for his massive pay package—he's <a href="https://x.com/elonmusk/status/1752455348106166598?lang=en">taking on</a> Delaware's entire legal system.&nbsp;
After a Delaware judge struck down his nearly $100 billion compensation package from Tesla (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), Musk wasted no time criticizing the state's Court of Chancery, calling it "<a href="https://x.com/elonmusk/status/1863728056474419580">absolute corrupt</a>."&nbsp;
His frustration didn't stop there—Tesla has now reincorporated in Texas, and his fight has put a spotlight on Delaware's role as the preferred home for corporate America.\
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<h2 class="wp-block-heading">Delaware's Legal Reputation Faces Uncertainty</h2>
For decades, Delaware has been the top choice for business incorporations, with roughly <a href="https://corp.delaware.gov/stats/">68% of Fortune 500 companies registered there</a>. But with Musk leading the charge, other companies are reconsidering their ties to the state.&nbsp;
Bill Ackman's hedge fund, Pershing Square, is planning a move to Texas or Nevada, and that reports say that Meta (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) is weighing a similar decision. Now, Delaware lawmakers are scrambling to stop what could become a corporate exodus.
To address growing concerns, Delaware lawmakers this month introduced <a href="https://legis.delaware.gov/BillDetail/141857">Senate Bill 21</a>, a proposal aimed at making the state's corporate laws more appealing to executives like Musk, Meta CEO&nbsp; Mark Zuckerberg, and Ackman.&nbsp;
Trending: Deloitte's fastest-growing software company partners with Amazon, Walmart &amp; Target – <a href="https://www.benzinga.com/money/mode-mobile-2">Many are rushing to grab 4,000 of its pre-IPO shares for just $0.26/share!</a>
<a href="https://www.reuters.com/legal/delaware-bill-would-limit-investor-lawsuits-companies-threaten-leave-state-2025-02-18/">According to Reuters</a>, the bill includes changes that would limit investor lawsuits against executives and redefine shareholder liabilities, making it harder for minority shareholders to challenge corporate decisions.
The push for reform comes as Delaware faces pressure to maintain its reputation as the go-to state for corporations. The state generates <a href="https://corp.delaware.gov/stats/">billions </a>from business registrations and corporate legal fees, so keeping companies from leaving is a top priority.
Lawrence Hamermesh, professor emeritus at Delaware Law School and one of the bill's authors, <a href="https://fortune.com/2025/02/21/elon-musk-tesla-pay-package-delaware-courts-change-state-law/">told Fortune</a> that Delaware needed to act fast.&nbsp;
"An unprecedented exigent risk required an unprecedented expedited process," he said, emphasizing that many companies are currently reviewing proxy statements ahead of their shareholder meetings this spring—meaning decisions to reincorporate could happen soon.
See Also: <a href="https://www.benzinga.com/money/elon-musk-told-the-u-n-if-they-could-show-a-plan-for-ending-world-hunger-hed-donate-6-billion-i-will-sell-tesla-stock-right-now-and-do-it">Elon Musk Told The U.N. If They Could Show A Plan For Ending World Hunger He'd Donate $6 Billion – ‘I Will Sell Tesla Stock Right Now And Do It'</a>
Not everyone is convinced Senate Bill 21 is the right move. According to <a href="https://www.ft.com/content/82e970d5-ea60-4932-81b5-2b6d5c28b86b">The Financial Times</a>, corporate governance expert Charles Elson argues that weakening shareholder protections could damage Delaware's credibility.&nbsp;
He described the changes as a dramatic upheaval in norms in Delaware where typically courts develop transaction standards through opinions.
Ann Lipton, a professor in business law and entrepreneurship at Tulane University Law School and The Murphy Institute <a href="https://www.ft.com/content/85eccee4-3890-4c25-bd89-eb522b95efb9">also weighed in</a>, warning that altering Delaware's laws to accommodate a handful of<a href="https://www.benzinga.com/news/25/02/43770418/billionaire-bill-ackman-bets-big-with-this-2-billion-stake-heres-why-he-thinks-its-still-a-sleeping-giant"> billionaires</a> could create a more volatile and less investor-friendly market.
For now, Delaware lawmakers insist the bill isn't about winning Musk back. State Sen. Bryan Townsend, the bill's primary sponsor, <a href="https://www.reuters.com/legal/delaware-bill-would-limit-investor-lawsuits-companies-threaten-leave-state-2025-02-18/">told Reuters</a> that the goal is to ensure the state remains a corporate hub.&nbsp;
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Elon Musk Blasts Delaware Court After $100B Pay Package Rejected – Sparks Corporate Exodus Threat

Leading cryptocurrencies continued their downward march on Thursday as President Donald Trump&#8217;s tariff plan worsened investors&#8217; fears.
<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>-0.16%</td>
<td>$84,442.44</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>-1.17%</td>
<td>$2,305.90</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>+1.68%</td>
<td>$0.2058</td>
</tr>
</tbody>
</table>
</figure>
What Happened: Bitcoin rose to $87,000 early in the morning, igniting hopes of a revival, only to fall back to the $83,000 zone by the evening.
The apex cryptocurrency has dropped 16.97% since the month began, on track for its worst February since 2014.&nbsp;
Ethereum too plunged to an intraday low of $2,230.45 after lifting above $2,300 earlier in the day. The second-largest cryptocurrency was headed toward its worst February performance.
Over $390 million was liquidated from the cryptocurrency market in the last 24 hours, with $303 million in long positions wiped out.
Bitcoin's Open Interest dropped 4.62% in the last 24 hours. About 58% of Bitcoin futures traders were positioned short, according to the Long/Short Ratio, suggesting a bearish mood.
The Crypto Fear and Greed Index was at a multi-year low, with the current value of 16 last seen during the 2022 bear market.
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>Berachain (BERA)</td>
<td>+12.27%</td>
<td>$8.18</td>
</tr>
<tr>
<td>Maker (MKR)</td>
<td>+9.11%</td>
<td>$1.762.60</td>
</tr>
<tr>
<td>Stacks (STX)</td>
<td>+5.25%</td>
<td>$0.8261</td>
</tr>
</tbody>
</table>
</figure>
The global cryptocurrency market capitalization stood at $2.81 trillion, contracting 0.10% in the last 24 hours.
Stocks were back in the red on Thursday. The Dow Jones Industrial Average fell 193.62 points, or 0.45%, to close at 43,239.50. The S&amp;P 500 slid 1.59% to end at 5,861.57, while the tech-heavy Nasdaq Composite dipped 2.78% to close the session at 18,544.42.
The sell-offs were triggered after <a href="https://www.benzinga.com/news/global/25/02/44010093/trumps-plan-for-canada-mexico-china-tariffs-to-start-march-4-could-shake-stock-market">Trump outlined a tariff plan</a> against Canada, Mexico, and China, threatening to harm key sectors like automotive, food and beverage, oil, and consumer goods.
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Analyst Notes: Popular on-chain analytics firm CryptoQuant noted that the NVT Golden Cross was below -2.4, suggesting oversold conditions and a possible market bottom.
"Given these oversold conditions, if a rebound occurs, the 111-day moving average (DMA) at $96.895 may act as resistance during any potential price increase," the analyst added.
The NVT ratio is a metric that compares a cryptocurrency's market capitalization to its on-chain transaction volume. It can be seen as the equivalent of the price-to-earnings ratio.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">NVT Golden Cross and Market Conditions "An NVT value below -1.6 indicates a possible market bottom, pointing to oversold conditions. Currently, the NVT value is below -2.4." – By <a href="https://twitter.com/tugbachain?ref_src=twsrc%5Etfw">@tugbachain</a> Full analysis &#x1f447;<a href="https://t.co/VuIHzc6liT">https://t.co/VuIHzc6liT</a> <a href="https://t.co/eTXIrwjOo7">pic.twitter.com/eTXIrwjOo7</a>
&mdash; CryptoQuant.com (@cryptoquant_com) <a href="https://twitter.com/cryptoquant_com/status/1895215351836926052?ref_src=twsrc%5Etfw">February 27, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Widely followed cryptocurrency commentator Ali Martinez painted a bearish forecast, citing the Moving Average Convergence Divergence indicator.&nbsp;
"Every time the MACD has a bearish crossover on the weekly chart, BTC has historically seen an average 40% correction. The MACD just flashed another bearish crossover," Martinez analyzed.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Every time the MACD has a bearish crossover on the weekly chart, <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> has historically seen an average 40% correction. The MACD just flashed another bearish crossover! <a href="https://t.co/c5gyIMh757">pic.twitter.com/c5gyIMh757</a>
&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1895264653443305962?ref_src=twsrc%5Etfw">February 28, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Photo by Avi Rozen on Shutterstock
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On Thursday, Cathie Wood&#8217;s Ark Invest made a significant trade involving Spotify Technology SA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>).
The SPOT Trade
Ark Invest&#8217;s decision to trade Spotify&#8217;s shares comes amidst a turbulent time for the music streaming giant. Spotify has recently faced stiff competition from Alphabet Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) YouTube, which announced that it has <a href="https://www.benzinga.com/25/02/43998792/youtube-surpasses-spotify-with-1-billion-monthly-podcast-users-ceo-pledges-enhanced-monetization-for-creators">surpassed Spotify&#8217;s monthly active podcast users</a>, reaching over 1 billion. 
Spotify&#8217;s CEO, Daniel Ek, has been in a four-year battle with Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), accusing the tech giant of flouting the European Union&#8217;s Big Tech rules. Ek has called for the EU to penalize Apple for its <a href="https://www.benzinga.com/government/regulations/25/02/43983837/spotify-ceo-wants-eu-to-penalize-apple-for-defying-regulations">alleged defiance of the EU&#8217;s Digital Markets Act</a>.
Ark Invest made a significant trade involving Spotify&#8217;s shares. The Wood-led firm sold 6,629 shares through ARK Next Generation Internet ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKW#NYSE">ARKW</a>). Given Spotify&#8217;s closing price of $590.76 on Thursday, February 27, 2025, the trade&#8217;s value was $3.9 million.
Other Key Trades:
<ul>
<li>Deere &amp; Co. (DE): Ark Invest&#8217;s ARKK fund bought 7,654 shares.</li>
<li>Iridium Communications Inc. (IRDM): Ark Invest&#8217;s ARKK fund purchased 87,903 shares.</li>
<li>Salesforce Inc. (CRM): Bought 15,345 stocks through ARKW.</li>
<li>Accolade Inc. (ACCD): Sold 2,500 shares from ARKG.</li>
</ul>
Image via Shutterstock
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

AAPL

ARKW

SPOT

Cathie Wood Sells Off Spotify Stock As YouTube Clamors For Podcast Crown

OpenAI CEO Sam Altman teased the possibility of developing a social media application in response to Meta Platforms Inc.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) plans to launch a standalone artificial intelligence app, setting the stage for intensified <a href="https://www.benzinga.com/markets/25/02/43962882/meta-gears-up-for-ai-dominance-with-200-billion-data-center-project-report">competition in the AI space</a>.
What Happened: &#8220;Ok fine maybe we&#8217;ll do a social app,&#8221; Altman posted on X, adding, &#8220;lol if facebook tries to come at us and we just uno reverse them it would be so funny.&#8221; 
His comments came directly after CNBC <a href="https://www.cnbc.com/2025/02/27/meta-plans-to-release-a-standalone-meta-ai-app.html">reported</a> Meta&#8217;s intentions to release a dedicated Meta AI application in the second quarter of 2025.
Meta&#8217;s upcoming standalone app represents a significant advancement in CEO Mark Zuckerberg&#8216;s strategy to position the company as the AI industry leader by year-end, ahead of competitors like OpenAI and Alphabet Inc. 
Currently, Meta AI is accessible only through Meta&#8217;s existing platforms—Facebook, Instagram, and WhatsApp—where it has accumulated approximately 700 million monthly active users.
<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">lol if facebook tries to come at us and we just uno reverse them it would be so funny &#x1f923;
&mdash; Sam Altman (@sama) <a href="https://twitter.com/sama/status/1895232244354294117?ref_src=twsrc%5Etfw">February 27, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also: <a href="https://www.benzinga.com/general/space/25/02/44027404/rocket-lab-q4-earnings-revenue-beat-eps-beat-new-satellite-product-multi-launch-agreement-shares-slide-on-soft-guidance">Rocket Lab Q4 Earnings: Revenue Beat, EPS Beat, New Satellite Product, Multi-Launch Agreement, Shares Slide On Soft Guidance</a>
Why It Matters: According to Meta CFO Susan Li, the company also plans to test a paid subscription model for Meta AI, similar to <a href="https://www.benzinga.com/25/01/43351386/metas-ai-investments-llama-expansion-and-ad-tech-drive-growth-earn-analyst-conviction">OpenAI&#8217;s premium ChatGPT offerings</a>. 
The social media <a href="https://www.benzinga.com/general/social-media/25/01/43322201/meta-platforms-q4-earnings-revenue-beat-eps-beat-daily-actives-up-5-continued-strong-revenue-growth-expected">giant has prioritized AI development</a>, with Zuckerberg stating during Meta&#8217;s fourth-quarter earnings call: &#8220;This is going to be the year when a highly intelligent and personalized AI assistant reaches more than 1 billion people, and I expect Meta AI to be that leading AI assistant.&#8221;
Meanwhile, ChatGPT remains the most downloaded AI application according to Sensor Tower&#8217;s State of Mobile 2025 report, followed by Google Gemini, ByteDance&#8217;s Doubao, and Microsoft&#8217;s Copilot. Both Google and Elon Musk&#8216;s xAI have recently launched standalone apps for their respective AI assistants, Gemini and Grok.
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</ul>
Image Via Shutterstock 
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Mark Zuckerberg's Meta Wants To Do An AI App But Sam Altman Wants To Pull A 'Reverse Uno' Card: 'Maybe We'll Do A Social App'

Americans&#8217; inflation expectations have surged to 4.3%, marking one of the sharpest three-month increases since 1979, according to new data that has economists concerned about price stability.
The <a href="https://data.sca.isr.umich.edu/fetchdoc.php?docid=77942#:~:text=Between%20October%202024%20and%20January,remain%20higher%20than%20pre%2D%20pandemic.">University of Michigan&#8217;s consumer survey</a> for January shows median one-year inflation expectations have climbed 1.7% since November&#8217;s election, <a href="https://www.economist.com/finance-and-economics/2025/02/18/american-inflation-looks-increasingly-worrying">The Economist reported on Tuesday</a>. It represents a joint-largest quarterly increase in over four decades, rivaling periods when inflation hit double digits.
Market indicators reflect similar concerns. One- and two-year breakeven inflation rates, calculated from Treasury yield differences, have risen 1.7% and 0.8% respectively since November.
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The jump exceeds historical patterns. According to The Economist&#8217;s model, approximately 80% of variation in quarterly inflation expectations typically correlates with current inflation rates and fuel prices. If the traditional relationships held, expectations would be nearly a full percentage point lower.
Analysts attribute the disconnect primarily to <a href="https://www.benzinga.com/general/market-summary/25/02/43821214/trump-calls-for-more-tariffs-federal-reserve-minutes-on-deck-whats-driving-markets-wednesday">President Donald Trump&#8216;s tariff rhetoric</a>. Consumer uncertainty about inflation has reached its highest level since 1980, with those opposed to tariffs expecting inflation near 5%.
&#8220;This is the riskiest period for inflation policy since the early Biden administration,&#8221; former Treasury Secretary Larry Summers told The Economist, referencing the period preceding four-decade inflation highs.
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Signs suggest the expectations may become self-fulfilling. American wages grew at an annualized 5.9% in January, while over 20% of Michigan survey respondents—the highest proportion in three decades—report accelerating major purchases to beat anticipated price increases.
Federal Reserve officials have expressed concern. &#8220;When inflation expectations become unanchored, central banks often can restore price stability only at a great economic cost,&#8221; <a href="https://www.dallasfed.org/news/speeches/logan/2025/lkl250206">Dallas Fed President Lorie Logan recently warned</a>. The uncertainty, she added, serves as &#8220;a reminder that expectations won&#8217;t stay anchored forever on their own.&#8221;
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Longer-term inflation expectations show mixed signals. While the &#8220;five-year, five-year forward&#8221; measure favored by central bankers remains stable, five-year consumer expectations have climbed to 3.3%, exceeding recent peaks.
A partisan divide has emerged in longer-term outlooks, with Democrats now expecting 4.2% average price increases over the next five years. Research suggests similar Republican concerns during the pandemic contributed to subsequent inflation.
Some analysts believe <a href="https://www.benzinga.com/markets/25/01/43325490/trump-slams-feds-terrible-job-on-bank-regulation-after-rate-hold-vows-to-unleash-lending-for-all-american-people">Trump&#8217;s criticism of Federal Reserve Chairman Jerome Powell</a>, including demands for interest rate cuts, has heightened Democrats&#8217; inflation concerns.
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Personal Finance

Americans Now Expect 4.3% Inflation—An Alarming Jump In Just 3 Months

On Thursday, a U.S. federal judge directed the Office of Personnel Management to retract memos that encouraged federal agencies to fire probationary employees. The judge declared these memos likely to be illegal.
What Happened: U.S. District Judge William Alsup ruled that the OPM must notify agencies that it lacks the power to insist on the termination of these employees. However, he stopped short of directly ordering the agencies to cease terminations, <a href="https://thehill.com/regulation/court-battles/5168222-judge-orders-recission-of-opm-memos-directing-agencies-to-fire-probationary-employees/">reported</a> The Hill.
Currently, the ruling is applicable only to agencies linked&nbsp;to the plaintiffs in the&nbsp;lawsuit. However, Judge Alsup advised the government to extend the notification to other agencies as well.
"The agencies could thumb their&nbsp;nose at OPM if they&nbsp;wanted to," Alsup stated, highlighting OPM&#8217;s limited authority over the employment decisions of other agencies.
A group of government employee unions had sued the OPM over its directive for agency leaders to fire employees still in their probationary period. This directive, which could have impacted up to 200,000 employees, resulted in a swift downsizing of the workforce across multiple agencies. Meanwhile, cuts are still on the cards for agencies, including the Defense Department.
Assistant U.S. Attorney&nbsp;Kelsey Helland&nbsp;contended that the plaintiffs were mistaking a "request" by OPM for an "order," suggesting that this misunderstanding significantly influences the case.
Judge Alsup is set to issue an opinion with additional details in the near future. An evidentiary hearing is slated for next month, where OPM acting director Charles Ezell is expected to testify.
See Also: <a href="https://www.benzinga.com/general/entertainment/25/02/44029692/elon-musk-out-as-canadian-citizen-nearly-1-of-countrys-population-signs-petition-to-revoke-citizenship">Elon Musk Out As Canadian Citizen? Nearly 1% Of Country&#8217;s Population Signs Petition To Revoke Citizenship</a>
Why It Matters: This legal development comes in the wake of a series of events that have stirred the U.S. defense sector. In December, Goldman Sachs downgraded a key player in the industry and reiterated a bearish outlook on other defense stocks, citing risks tied to a slowing Pentagon budget and margin pressures <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/12/42468190/defense-stocks-face-headwinds-as-trumps-doge-targets-spending-cuts-goldman-sachs-downgrades-general-dynamics-to-sell">under the watch</a> of Elon Musk-associated Department of Government Efficiency.
Over 20 civil service employees have resigned from the DOGE, refusing to participate in the dismantling of what they termed as essential public infrastructure. This was followed by an executive order by President Donald Trump mandating all federal agencies to appoint a DOGE representative to oversee spending and ensure transparency, thereby increasing<a href="https://www.benzinga.com/25/02/43995014/elon-musks-influence-over-the-government-set-to-increase-trump-orders-all-federal-agencies-to-appoint-a-doge-commissar"> </a>Musk&#8217;s<a href="https://www.benzinga.com/25/02/43995014/elon-musks-influence-over-the-government-set-to-increase-trump-orders-all-federal-agencies-to-appoint-a-doge-commissar"> influence over government operations</a>.
Image via Shutterstock
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

Government

Politics

General

Trump Administration's Move To Fire Probationary Employees Gets Halted By Judge: Thumb Your Nose If You Want

ImmunityBio, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBRX#NASDAQ">IBRX</a>), a leading immunotherapy company, today announced the U.S. Food and Drug Administration (FDA) has granted Regenerative Medicine Advanced Therapy (RMAT) designation for ANKTIVA(R) and CAR-NK (PD-L1 t-haNK) for the reversal of Lymphopenia in Patients Receiving Standard-of-Care Chemotherapy/Radiotherapy and in Multiply Relapsed Locally Advanced or Metastatic Pancreatic Cancer.

IBRX

ImmunityBio Receives FDA RMAT Designation for ANKTIVA(R) and CAR-NK for the Reversal of Lymphopenia in Patients Receiving Standard-of-Care Chemotherapy/Radiotherapy and in Treatment of Multiply Relapsed Locally Advanced or Metastatic Pancreatic Cancer

<a href="https://www.benzinga.com/startups/25/01/43101102/elon-musk-the-richest-man-in-the-world-is-estimated-to-earn-over-23-million-every-single-hour-of-the-day-heres-how-hes-spending-it">Elon Musk</a> has always seemed a little otherworldly—whether it's his grand vision for humanity, his relentless work ethic, or his ability to joke about being a time-traveling vampire. But according to his second ex-wife, Talulah Riley, he might actually be one.
In the. 2022 <a href="https://youtube.com/shorts/pF-Q0ZZQVg4?si=2Rut_ksokpPTj_yh">BBC documentary series</a>, "The Elon Musk Show," Riley was asked how she would describe her ex-husband to an alien. Her response was as sharp as it was telling:
"Well, I think of Elon as the alien. I'd say, ‘Meet your fellow countryman,'" she said, laughing. She added that Musk has always seemed to perceive the world differently from others.
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"I always used to think of him as a sort of benevolent alien," she continued. "You know, he would be, ‘Hello.' He could always see the world was going in a way that I just did not understand. And I love having that perspective, and I am grateful for every part of that. I hope he gets humanity to Mars because I think that is his reason for being more than any other."
<h2 class="wp-block-heading">Musk's Obsession With Mars</h2>
Riley's comment wasn't just a joke—it struck at the core of Musk's ultimate mission. For years, he has argued that humanity faces two choices:
"There are two fundamental paths," Musk said in the documentary. "One path is we stay on Earth forever, and there will be some eventual extinction event. The alternative is to become a multi-planet species. That's what we want."
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This isn't just science fiction to him. SpaceX, the company he founded in 2002, is working aggressively to make <a href="https://www.benzinga.com/25/02/43905539/elon-musk-led-spacex-to-undertake-starships-8th-test-flight-on-friday">interplanetary travel a reality</a>. The company's fully reusable Starship rocket—currently in development—is designed to <a href="https://www.benzinga.com/personal-finance/24/09/40778284/elon-musk-says-almost-anyone-can-afford-a-trip-to-mars-at-100-000-to-500-000-even-if-it-means-se">transport humans to Mars</a>, with Musk envisioning a self-sustaining colony in the next few decades.
His logic? Earth's days are numbered, whether due to natural disasters, nuclear war, or an asteroid impact. Expanding to other planets, he believes, is humanity's only insurance policy.
<h2 class="wp-block-heading">The ‘Time-Traveling Vampire Alien'</h2>
Of course, Musk is no stranger to embracing the idea that he might not be from this planet. When an X user noticed that his profile had been "verified since 3000 BCE," Musk leaned into the joke, replying:
"See, this proves that I'm a time-traveling vampire alien! Even though I'm 5000 years old, I think I look much younger."
<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">See, this proves that I'm a time-traveling vampire alien! Even though I'm 5000 years old, I think I look much younger. <a href="https://t.co/QNgQjaBAp9">https://t.co/QNgQjaBAp9</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1860766441122996246?ref_src=twsrc%5Etfw">November 24, 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/money/elon-musk-told-the-u-n-if-they-could-show-a-plan-for-ending-world-hunger-hed-donate-6-billion-i-will-sell-tesla-stock-right-now-and-do-it">Elon Musk Told The U.N. If They Could Show A Plan For Ending World Hunger He'd Donate $6 Billion – ‘I Will Sell Tesla Stock Right Now And Do It'</a>
It's the kind of playful response that keeps social media hooked on Musk, but underneath the humor, there's a serious commitment to his Mars mission. Whether it happens in his lifetime or not, Musk is determined to push the limits of what's possible—making Riley's quip about him being an alien seem all the more fitting.
After all, if he succeeds, he won't just be a billionaire or a tech mogul. He'll be the man who took humanity to another planet. And that? That's as alien as it gets.
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'He's The Alien' — Elon Musk's Second Ex-Wife Was Asked To Describe Him To An Alien: 'I'd Say Meet Your Fellow Countryman'

Baker Hughes (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKR#NASDAQ">BKR</a>) has outperformed the market over the past 5 years by 7.12% on an annualized basis producing an average annual return of 21.4%. Currently, Baker Hughes has a market capitalization of $43.05 billion. 
Buying $1000 In BKR: If an investor had bought $1000 of BKR stock 5 years ago, it would be worth $2,538.15 today based on a price of $43.51 for BKR at the time of writing.
<h3>Baker Hughes's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1740699936_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

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

Macquarie analyst Chad Beynon maintains Rush Street Interactive (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RSI#NYSE">RSI</a>) with a Outperform and maintains $16 price target.

Price Target

Analyst Ratings

Macquarie Maintains Outperform on Rush Street Interactive, Maintains $16 Price Target

Barrington Research analyst Alexander Paris maintains Strategic Education (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STRA#NASDAQ">STRA</a>) with a Outperform and lowers the price target from $135 to $120.

STRA

Barrington Research Maintains Outperform on Strategic Education, Lowers Price Target to $120

Royal Caribbean Gr (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RCL#NYSE">RCL</a>) has outperformed the market over the past 5 years by 10.68% on an annualized basis producing an average annual return of 24.95%. Currently, Royal Caribbean Gr has a market capitalization of $64.09 billion. 
Buying $1000 In RCL: If an investor had bought $1000 of RCL stock 5 years ago, it would be worth $2,956.31 today based on a price of $238.15 for RCL at the time of writing.
<h3>Royal Caribbean Gr's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1740699021_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 Royal Caribbean Gr Stock In The Last 5 Years

When it comes to <a href="https://www.benzinga.com/news/25/02/43759368/silicon-valley-millionaire-asks-dave-ramsey-if-he-should-buy-a-250000-lamborghini-heres-what-car-nut-ramsey-always-asks-himself">big purchases</a> like a new car, even high earners can wrestle with whether they are spending too much. That was the case for Landon, a 27-year-old caller to &#8220;The Ramsey Show,&#8221; who recently bought a 2018 Mercedes S-Class for $35,000. Despite having a household income of $250,000 and a net worth of $750,000, Landon couldn't shake the feeling that he had made a mistake.
<h2 class="wp-block-heading">Does Spending $35K on a Car Make Financial Sense?</h2>
Landon and his wife are in a strong financial position. They are in what Dave Ramsey refers to as &#8220;Baby Step 7,&#8221; meaning they have no debt, a <a href="https://www.benzinga.com/real-estate/25/02/43789996/dave-ramsey-says-a-paid-off-mortgage-is-the-new-status-symbol-not-a-bmw-do-you-agree">paid-off home</a>, and are focused on building wealth and giving generously. Despite that, Landon felt uneasy about sinking money into something that depreciates in value.
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Ramsey show co-hosts <a href="https://www.benzinga.com/personal-finance/24/11/41824000/are-you-broke-average-or-wealthy-dave-ramsey-host-breaks-down-the-financial-behaviors-that-defin">George Kamel</a> and Ken Coleman reassured Landon that his purchase was well within reasonable spending limits. A common rule of thumb on &#8220;The Ramsey Show&#8221; is that the total value of a household's vehicles should not exceed half of their annual income. With $45,000 total tied up in vehicles and an income of $250,000, Landon is well under that threshold.
"Dave would have said, &#8216;You should have bought a nicer car!&#8217;' Kamel remarked. "You&#8217;re not doing anything wrong."&nbsp;
<h2 class="wp-block-heading">The Emotional Side of Money</h2>
While Landon's concern appeared to be financial, Coleman and Kamel dug deeper and suggested that his discomfort stemmed from an emotional struggle rather than a financial misstep. They pointed out that he had spent years being financially aggressive—paying off his home and saving diligently—which made it difficult for him to shift into a mindset where he could enjoy some of his wealth.
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Coleman identified shame as a possible factor, explaining that some people feel guilty about spending money, even when they have more than enough. Landon admitted that his financial discipline made it hard for him to relax when making large purchases.
<h2 class="wp-block-heading">A Balanced Approach to Money</h2>
<a href="https://www.benzinga.com/personal-finance/25/02/43768530/should-married-couples-split-expenses-dave-ramsey-says-no-youre-married-not-roommates">Ramsey</a> often emphasizes that financial success is about more than just saving—it's about balancing saving, spending, and giving. Kamel explained that if someone only saves and never spends, they can end up depriving themselves unnecessarily.
Ultimately, the hosts reassured Landon that he wasn't making an irresponsible decision. Kamel reminded him that as his investments continue to grow, his home will naturally make up a smaller percentage of his net worth over time. "You got another 30 to 40 years of working for ya and investing to build wealth," he said. "And so, in the meantime, you have to do something called enjoying life."
See Also: Warren Buffett once said, "If you don't find a way to make money while you sleep, you will work until you die."<a href="https://www.benzinga.com/money/warren-buffet-make-money-when-you-sleep"> Here&#8217;s how you can earn passive income with just $100.</a>
<h2 class="wp-block-heading">How Much Should You Spend On A Car Given Your Income?</h2>
If you're in a similar position—earning well, debt-free, and hesitant about spending—it's worth considering a few key points:
<ul>
<li>Do the math: Ramsey's team advises that all vehicles in your household don't exceed half of your annual income.</li>
<li>Check your emotions: If guilt or fear is driving your hesitation, ask yourself whether your concerns are based on real financial risks or ingrained habits.</li>
<li>Find balance: A strong financial plan includes saving, spending, and giving in reasonable proportions.</li>
</ul>
For Landon, the verdict was clear: spending $35,000 on a car wasn't reckless—it was simply an adjustment to a new financial phase. And while the car will depreciate, the financial wisdom he's gained will last far longer
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<li>Many are using retirement income calculators 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 what&#8217;s behind this formula.</a></li>
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Household Income Is $250,000, Is $35,000 Too Much To Spend On A New Car? The Ramsey Show Weighs In

Ellington Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EFC#NYSE">EFC</a>) reported quarterly earnings of $0.45 per share which beat the analyst consensus estimate of $0.38 by 18.42 percent. This is a 66.67 percent increase over earnings of $0.27 per share from the same period last year. The company reported quarterly sales of $38.13 million which missed the analyst consensus estimate of $41.36 million by 7.81 percent. This is a 20.76 percent increase over sales of $31.58 million the same period last year.

Earnings

Earnings Beats

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Ellington Financial Q4 Adj Distributable Earnings per share $0.45 Beats $0.38 Estimate, Total net interest income $38.13M Miss $41.36M Estimate

A petition in Canada has more than 300,000 signatures and wants to revoke Elon Musk's Canadian citizenship, which he obtained in 1989 when he moved<a href="https://www.benzinga.com/general/education/24/06/39547388/happy-birthday-elon-musk-53-facts-and-figures-about-tesla-spacex-ceo-on-his-53rd-birthday"> to the country.</a>
What Happened: Musk's <a href="https://www.benzinga.com/25/02/43995014/elon-musks-influence-over-the-government-set-to-increase-trump-orders-all-federal-agencies-to-appoint-a-doge-commissar">close relationship with</a> President Donald Trump has rubbed some Canadian citizens the wrong way and residents of America's neighbor are calling for Musk's citizenship to be removed.
A <a href="https://www.ourcommons.ca/petitions/en/Petition/Details?Petition=e-5353">petition </a>to the Canadian Prime Minister says Musk has used his wealth and power to influence elections.
"Elon Musk has engaged in activities that go against the national interest of Canada," the petition says.
The petition also says Musk is part of a foreign government trying to "erase Canadian sovereignty," a reference to Trump calling for Canada to become the 51st state of the U.S.
The petition, which began on Feb. 20 and will close for signatures on June 20, has 331,162 signatures as of the time of writing. This total represents around 0.8% of the Canadian population (39,996,554) if the signatures are legitimate.
"We, the undersigned, citizens of Canada, call upon the Prime Minister to revoke Elon Musk's dual citizenship status, and revoke his Canadian passport effective immediately."
Only Canadian citizens and residents of the country can submit petitions. Among provinces, Ontario leads the way with 127,009 signatures followed by British Colombia (68,269) and Quebec (52,761).
The petition was filed by author Qualia Reed from British Colombia. The petition is also supported by Democrat MP Charlie Angus.
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<ul>
<li>Stay in the know with our Insider Trades page — <a href="https://www.benzinga.com/sec/insider-trades/">see when leaders like Mark Zuckerberg, Elon Musk, and Jensen Huang are offloading their own shares.</a></li>
</ul>
Why It's Important: Electronic petitions have to have at least 500 signatures to make their way to the House of Commons, which could lead to a formal government response. With over 300,000 signatures, the petition qualifies for the next step after the June 20 closing date as long as the validity of the signatures can be proven.
Musk was born in South Africa before moving to Canada. His mother Maye Musk was born in Saskatchewan. Musk moved to the U.S. later and received citizenship in America in 2002.
A CNN <a href="https://www.cnn.com/2025/02/25/americas/canada-petition-musk-citizenship-intl-latam/index.html">report </a>questions if the petition can actually lead to Musk's citizenship being revoked.
"Canada does not revoke citizenship that is lawfully obtained," a source told CNN.
While Musk may not have his Canadian citizenship removed, the attention the petition has brought could have a negative impact on Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) in the country.
Musk <a href="https://x.com/essenviews/status/1894270080206135705">replied </a>to someone who posted about the petition with "Canada is not a real country." Musk later deleted the <a href="https://x.com/elonmusk/status/1894207733693649193">post</a>.
Parts of Canada have threatened to place tariffs on Tesla vehicles to retaliate against Trump's tariffs on the country. With Musk a close ally of Trump, Tesla could find itself in a trade war between the U.S. and Canada and see the price of Tesla vehicles rise substantially for Canadian residents, potentially hurting market share in the region.
Musk's recent political activity has led to <a href="https://www.benzinga.com/news/global/25/01/43172806/tesla-lost-15-billion-in-brand-value-in-2024-report-says-did-elon-musks-political-push-hurt-ev-giant">lower brand value rankings</a> for Tesla and <a href="https://www.benzinga.com/trading-ideas/25/02/43447273/tesla-sales-drop-12-in-california-is-elon-musks-support-for-donald-trump-hurting-ev-sales">lower sales in California</a> and several countries to start the 2025 year.
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</ul>
Photos: Shutterstock

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Elon Musk Out As Canadian Citizen? Nearly 1% Of Country's Population Signs Petition To Revoke Citizenship

Goldman Sachs BDC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GSBD#NYSE">GSBD</a>) reported quarterly earnings of $0.47 per share which missed the analyst consensus estimate of $0.50 by 6 percent. This is a 14.55 percent decrease over earnings of $0.55 per share from the same period last year. The company reported quarterly sales of $103.80 million which missed the analyst consensus estimate of $104.19 million by 0.38 percent. This is a 10.05 percent decrease over sales of $115.40 million the same period last year.

GSBD

Goldman Sachs BDC Q4 Adj net investment income per share $0.47 Misses $0.50 Estimate, Total investment income $103.80M Miss $104.19M Estimate

Betterware de Mexico SAPI (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BWMX#NASDAQ">BWMX</a>) reported quarterly earnings of $0.58 per share which missed the analyst consensus estimate of $11.13 by 94.76 percent. This is a 5.97 percent decrease over earnings of $0.62 per share from the same period last year. The company reported quarterly sales of $188.29 million which missed the analyst consensus estimate of $3.62 billion by 94.80 percent. This is a 2.91 percent decrease over sales of $193.94 million the same period last year.

BWMX

Betterware de Mexico SAPI Q4 Adj $0.58 Misses $11.13 Estimate, Sales $188.29M Miss $3.62B Estimate

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