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Horizon Space Acquisition II Corp. - Right

Macro Economic Events

News

Econ #s

Economics

U.K. Retail Sales (MoM) For January 1.7% Vs. 0.4% Est.; -0.6% (Revised) Prior

U.K. Retail Sales (YoY) For January 1.0% Vs. 0.6% Est.; 2.8% (Revised) Prior

U.K. Core Retail Sales (MoM) For January 2.1% Vs. 0.9% Est.; -0.9% (Revised) Prior

U.K. Core Retail Sales (YoY) For January 1.2% Vs. 0.5% Est.; 2.1% (Revised) Prior

Aspire Biopharma, Inc. entered into a definitive Securities Purchase Agreement (the "Agreement") on February 19, 2025, pursuant to which the Company issued to the Buyers a senior secured convertible debenture (the "Debenture"). The Debenture is only convertible in the event of a default or at the Company's discretion. The closing of the transaction is expected to occur on February 20, 2025 (the "Closing Date"). The transaction will result in gross proceeds to the Company of $3.0 million. Proceeds from the transaction will support the Company's general working capital and operating expenses

ASBP

Reported Earlier, Aspire Biopharma Enters $3M Senior Secured Convertible Debenture Agreement

Warren Buffett&#8216;s investment firm, Berkshire Hathaway (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>), has offloaded a 2% stake in dialysis service provider, DaVita Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DVA#NYSE">DVA</a>). The transaction, executed between February 14 and 19, is valued at around $116 million.
What Happened: A Form 4 filing with the&nbsp;U.S. Securities and Exchange Commission&nbsp;(SEC) on Wednesday night revealed that Berkshire Hathaway sold 750,000 DaVita shares, in multiple batches, bringing its stake in the company down to 35.14 million shares, or approximately 44%. This follows a <a href="https://www.benzinga.com/general/market-summary/25/02/43721022/warren-buffetts-berkshire-hathaway-sells-nearly-36-million-worth-of-dialysis-giant-davitas-shares-amid-q4-earnings-beat">previous sale of 203,091 shares </a>on February 11, which reduced Berkshire&#8217;s ownership to 45%.
The latest transaction is categorized as an insider trade, differing from the earlier trade&nbsp;related to a share buyback&nbsp;agreement. These sales are a part of Berkshire&#8217;s continuous portfolio management approach, but the real reason behind the sale has not been disclosed. 
Despite the recent sales, the Buffet-led company continues to be a majority owner of DaVita, holding 35.14 million shares worth approximately $5.4 billion. According to Reuters, Berkshire has been a DaVita investor since the last quarter of 2011.
SEE ALSO: <a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43874379/dogecoin-millionaire-pushes-conviction-plays-like-pepe-like-theres-no-tomorrow-best-time-to-start-buying">Dogecoin &#8216;Millionaire&#8217; Pushes &#8216;Conviction Plays&#8217; Like PEPE Like There&#8217;s No Tomorrow: &#8216;Best Time To Start Buying&#8217;</a>
Why It Matters: The recent sale of DaVita shares by Berkshire Hathaway follows a previous sale on February 11 which brought Berkshire&#8217;s stake in the company down to 45%.
On February 14, <a href="https://www.benzinga.com/general/health-care/25/02/43725529/davita-plunges-over-10-in-friday-pre-market-after-warren-buffett-cuts-stake-in-one-of-berkshire-hathaways-longest-held-investments">DaVita's stock price dropped over 11% following</a> the company&#8217;s earnings beat but a disappointing outlook for Fiscal 2025. The company projected full-year EPS between $10.20 and $11.30, falling short of the analysts&#8217; average expectation of $11.44. &nbsp;
Shortage of intravenous fluid, elevated mortality rates, and regulatory changes are some of the challenges that the company has been grappling with recently. Javier Rodriquez, CEO of DaVita acknowledged the challenges and stated, &#8220;Despite a year with unique hurdles, we finished strong in 2024, producing full year adjusted operating income and adjusted EPS in the top half of our guidance range.&#8221;
Meanwhile, according to StreetInsider, Bernstein SocGen Group analyst Lisa Bedell Clive stated &#8216;We View the Results as Negative&#8217;. She reinforced a &#8216;Market Perform&#8217; rating and a price target of $184.00 on DaVita stock. 
That said, the shares of the kidney dialysis provider surged more than 20% over the past 12 months. 
<ul>
<li>READ MORE: <a href="https://www.benzinga.com/markets/asia/25/02/43872677/alibaba-cfo-toby-xu-touts-5-drop-in-share-count-thanks-to-aggressive-buybacks-as-jack-ma-founded-company-basks-in-stellar-q3-results">Alibaba CFO Toby Xu Touts 5% Drop In Share Count Thanks To Aggressive Buybacks As Jack Ma-Founded Company Basks In Stellar Q3 Results</a></li>
</ul>
Image via Shutterstock
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Markets

Tech

Warren Buffett's Berkshire Hathaway Sells $116M Shares Of Dialysis Giant DaVita, Cuts Stake By 2%

NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) has unveiled Signs, an innovative artificial intelligence-powered platform designed to enhance American Sign Language (ASL) learning and accessibility, entering the assistive technology space as companies like Neuralink make strides in neural communication.
What Happened: The platform, developed in partnership with the American Society for Deaf Children and Hello Monday, aims to create a comprehensive validated dataset of 400,000 video clips representing 1,000 signed words. 
&#8220;Most deaf children are born to hearing parents. Giving family members accessible tools like Signs to start learning ASL early enables them to open an effective communication channel with children as young as six to eight months old,&#8221; said Cheri Dowling, executive director of the American Society for Deaf Children.
See Also: <a href="https://www.benzinga.com/markets/asia/25/02/43872677/alibaba-cfo-toby-xu-touts-5-drop-in-share-count-thanks-to-aggressive-buybacks-as-jack-ma-founded-company-basks-in-stellar-q3-results">Alibaba CFO Toby Xu Touts 5% Drop In Share Count Thanks To Aggressive Buybacks As Jack Ma-Founded Company Basks In Stellar Q3 Results</a>
Why It Matters: While NVIDIA focuses on external AI-driven communication solutions, Tesla Inc. CEO Elon Musk&#8216;s Neuralink is developing complementary neural technology. The company&#8217;s upcoming &#8220;Blindsight&#8221; product aims to restore vision in individuals born blind, demonstrating the expanding possibilities in <a href="https://www.benzinga.com/general/biotech/24/03/37863779/elon-musk-reveals-blindsight-will-be-next-neuralink-product-we-believe-we-can-still-restore-visio">neural communication assistance</a>.
The Signs platform features a 3D avatar demonstrating signs and provides real-time AI feedback on users&#8217; signing through webcam analysis. Currently offering an initial set of 100 signs, Nvidia&#8217;s research team is exploring the integration of facial expressions and head movements in future versions, while also investigating regional variations and slang terms.
Nvidia plans to make the dataset publicly available later this year, potentially catalyzing the development of new accessible technologies including AI agents and video conferencing tools. The platform is currently accessible at signs-ai.com, with live demonstrations planned for the upcoming NVIDIA GTC conference in San Jose, March 17-21.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43873772/sam-bankman-fried-slams-bidens-crypto-policies-as-incredibly-destructive-while-aligning-with-trump-looking-for-a-pardon">Sam Bankman-Fried Slams Biden&#8217;s Crypto Policies As &#8216;Incredibly Destructive&#8217; While Aligning With Trump — Looking For A Pardon?</a></li>
</ul>
Image Via Shutterstock
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Equities

NVDA

TSLA

Nvidia Unveils 'Signs' AI Platform For Teaching American Sign Language, Expanding Into Assistive Tech

In addition, the Company will present several important new value-building strategic initiatives that include:
<ul>
<li>Strength in organic business lines driven by continued investment in new products</li>
<li>its preliminary financial results for the fourth quarter and full fiscal year 2024 will be released after the close of market on Wednesday, February 26, 2025; and</li>
<li>Michael J. Ferrantino, Jr., Chief Executive Officer, departs the Company to transition to the Connectivity Partnership</li>
</ul>
The Company also announced today that Cameron Pforr, current Chief Financial Officer of the Company, assumes the additional role of Interim Chief Executive Officer.

MPTI

Reported Earlier, M-tron Industries Leadership Transition CEO Departs, CFO Cameron Pforr Named Interim CEO, And Unveils Strategic Growth Initiatives And Rights Offering

Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) is reportedly testing its second-generation C2 modem for upcoming iPhone models.
What Happened: A private X, formerly Twitter, account with a track record of accurate Apple leaks claims that the company is already testing the C2 modem, internally identified as "C4020," <a href="https://www.macrumors.com/2025/02/20/apple-already-testing-a-c2-modem/">reported</a> MacRumors.
Apple&#8217;s next-generation modem is expected to deliver improved 5G connectivity with enhanced speed and reliability while also being more energy efficient.
See Also: <a href="https://www.benzinga.com/25/02/43874069/meta-slashes-employee-stock-awards-by-10-as-zuckerberg-pours-up-to-65-billion-into-ai-race-against-openai-alphabet-and-amazon-report">Meta Stock Has Soared Almost 50% Over A Year But Now The Company Is Slashing Staff Stock Awards As It Braces To Face OpenAI, Amazon And Others In AI Race</a>
The latest rumor signals a major step in <a href="https://www.benzinga.com/24/12/42376583/how-apples-billion-dollar-modem-gamble-could-redefine-the-future-of-macs-headsets-and-foldable-iphones-report">Apple's effort to move away</a> from Qualcomm Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>) chips and improve in-house wireless technology. Earlier reports suggested that Apple&#8217;s first modem, C1, might be <a href="https://in.benzinga.com/25/02/43774315/apples-iphone-se-4-to-feature-tsmc-made-in-house-5g-modembut-it-may-lag-behind-qualcomms-snapdragon-x75">slower than Qualcomm&#8217;s</a> Snapdragon X75 modem.
Why It Matters: The current <a href="https://www.benzinga.com/tech/25/02/43820197/apple-unveils-iphone-16e-with-a18-chip-ai-features-599-price-tag">C1 modem in the</a> iPhone 16e is already noted for its power efficiency, contributing to the longest battery life among 6.1-inch iPhones.
Apple's chipmaking chief, Johny Srouji, mentioned that the C1 modem is just the beginning, with the C2 modem marking the next phase.
Bloomberg's columnist Mark Gurman previously highlighted the significance of Apple's first in-house modem, calling it a "monumental technical achievement" after a seven-year, multi-billion-dollar effort.
However, Gurman noted that Apple gave it minimal attention in its official announcements, which he believes was intentional.
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.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The C1 Apple modem is a monumental technical achievement. A several billion dollar effort that has been in the works for 7 years. In the end it gets two sentences in the press release and 15 seconds in the announcement video. Apple is clearly downplaying this intentionally.
&mdash; Mark Gurman (@markgurman) <a href="https://twitter.com/markgurman/status/1892255032344519066?ref_src=twsrc%5Etfw">February 19, 2025</a></blockquote>
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Analyst Ming-Chi Kuo also weighed in, stating that all iPhone 17 models set to launch in late 2025 will feature Apple's own Wi-Fi chips, a move aimed at reducing reliance on Broadcom Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>). He also said that only the slim iPhone 17 model is expected to adopt Apple's C1 modem.
<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">Following Qualcomm, Broadcom&#39;s Wi-Fi chips will also be replaced by Apple&#39;s in-house chips at a faster pace. My latest industry survey indicates that all new 2H25 iPhone 17 models will feature Apple&#39;s in-house Wi-Fi chips (vs. only the slim iPhone 17 will adopt Apple&#39;s C1 modem…
&mdash; 郭明錤 (Ming-Chi Kuo) (@mingchikuo) <a href="https://twitter.com/mingchikuo/status/1892605046078259711?ref_src=twsrc%5Etfw">February 20, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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Meanwhile, Flighty CEO Ryan Jones has questioned whether the C1 modem in the iPhone 16e can match expectations.
<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">Actually important about iPhone 16e: &#8211; increase from $429 → $599 is a lot. 8GB and A18 alone don't justify. This is not really a typical "SE" &#8211; Apple's C1 modem, can it hold up? &#8211; Why no MagSafe? kneecapping for 16 sales and repair cost? &#8211; "2-in-1 camera" is brilliant…
&mdash; Ryan Jones (@rjonesy) <a href="https://twitter.com/rjonesy/status/1892743722145562913?ref_src=twsrc%5Etfw">February 21, 2025</a></blockquote>
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</figure>
Price Action: Apple&#8217;s stock closed at $245.83 on Thursday, rising 0.39% for the day. However, in after-hours trading, it edged down 0.094% to $245.60, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.
Check out more of Benzinga&#8217;s Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Photo Courtesy: Shutterstock.com
Read Next:
<ul>
<li><a href="https://www.benzinga.com/24/11/42053396/why-chinese-tech-giants-alibaba-bytedance-and-meituan-are-expanding-their-ai-footprints-in-silicon-valley-amid-us-efforts-to-block-progress?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">China&#8217;s Tech Giants Alibaba, ByteDance, And Meituan Are Expanding Their Silicon Valley AI Footprints Amid US Efforts To Block Progress: Here&#8217;s Why</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Media

AAPL

AVGO

QCOM

Leaker Claims Apple's Next-Gen C2 Modem Is Already In Testing— Here's What It Means For iPhone 5G Connectivity

The Board of Directors of&nbsp;Prologis approved a plan to raise the company's annualized dividend by 5% to $4.04 per share of common stock.
The board declared a regular cash dividend for the quarter ending March 31, 2025, on the following securities:
<ul>
<li>A dividend of $1.01 per share of the company's common stock, payable on March 31, 2025, to common stockholders of record at the close of business on March 18, 2025;</li>
</ul>

Dividends

Reported Earlier, Prologis Increased Quarterly Dividend By 5% To $1.01 Per Share, Payable March 31

Elon Musk&#8216;s rocket manufacturing company SpaceX is eyeing as early as Feb. 26 for the next test flight of its Starship launch vehicle, according to an advisory from the Federal Aviation Administration (FAA).
What Happened: According to the advisory, the company has backup dates until March 6 in case the launch on the 26th is not possible.
SpaceX last launched Starship on Jan. 16. The spacecraft lifted off from Starbase in Texas at 4:37 p.m. CT, and the vehicle booster landed back at the launch site after separation from its first stage.
The spacecraft, however, <a href="https://www.benzinga.com/25/01/43046722/starship-explodes-during-flight-test-elon-musk-says-success-is-uncertain-but-entertainment-is-guaranteed" target="_blank" rel="noopener">disintegrated in space during the flight test.</a> The spacecraft was carrying 10 Starlink simulators, which were similar in size and weight to the company&#8217;s next-generation Starlink satellites, as payload.
The FAA subsequently ordered an investigation into the incident following reports of public property damage in Turks and Caicos. The probe will be spearheaded by SpaceX itself but the federal agency must approve the final report and corrective actions made to prevent a recurrence of the issue. Starship cannot fly again until the probe is concluded.
Why It Matters: The upcoming test flight would be Starship&#8217;s eighth to date and second this year. SpaceX started testing Starship in April 2023.
The Starship vehicle is part of big dreams. While NASA is looking forward to landing humans back on the surface of the Moon after a gap of over 50 years with the help of a&nbsp;<a href="https://www.benzinga.com/24/11/42108681/spacex-shows-off-conceptual-version-of-starship-which-will-help-humans-land-back-on-moon-in-over-50-yrs" target="_blank" rel="noreferrer noopener">custom version of Starship</a>, Musk is dreaming of taking&nbsp;<a href="https://www.benzinga.com/news/24/09/40770222/elon-musk-sets-2026-for-starships-first-uncrewed-mars-mission-targeting-successful-landing" target="_blank" rel="noreferrer noopener">humans to the planet Mars</a>&nbsp;aboard Starship. However, the vehicle is currently in the testing and development phase.
&#8220;…I would not be surprised if we fly 400 Starship launches in the next four years," SpaceX President and COO&nbsp;Gwynne Shotwell&nbsp;<a href="https://www.benzinga.com/general/space/24/11/42105704/spacex-ceo-elon-musk-reveals-technical-glitch-that-led-company-to-drop-key-objective-of-starships-6th-test-flight" target="_blank" rel="noreferrer noopener">said at the Baron Investment Conference</a>&nbsp;in New York in November.
Starship, the President then said, will eventually take SpaceX &#8220;over the top as one of the most valuable companies.&#8221;
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/25/02/43842890/osha-cites-tesla-over-death-of-electrician-report">Elon Musk&#8217;s Tesla Cited By OSHA Over Death Of Electrician At Giga Texas: Report</a></li>
</ul>
Photo courtesy: SpaceX

SPACE

Elon Musk-Led SpaceX Likely To Undertake Starship's 8th Test Flight On Feb 26: Here's What We Know

Approximately five months after launch, the inclusion of neffy on these three additional formularies has expanded access to half of all patients and caregivers managing Type 1 allergic reactions, bringing the total number of formulary platforms covering neffy to 30 - ARS Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SPRY#NASDAQ">SPRY</a>), a biopharmaceutical company dedicated to empowering at-risk patients and caregivers to better protect themselves from allergic reactions that could lead to anaphylaxis, announced today that Cigna Healthcare, Navitus Health Systems and OptumRx, through their Group Purchasing Organization (GPO) Emisar, have added neffy (epinephrine nasal spray) to their National Formularies

SPRY

Reported Earlier, ARS Pharmaceuticals Secures Key Formulary Listings For neffy, Ensuring Wider Access For Severe Allergy Patients

Reported Earlier, dLocal Pushes Back Against Short-Seller Allegations, Highlights Prior Independent Forensic Review

ACELYRIN confirmed receipt of an unsolicited indication of interest from Concentra Biosciences, LLC, of which Tang Capital Partners, LP is the controlling shareholder, to acquire all of the outstanding shares of ACELYRIN for $3.00 per share in cash, plus a contingent value right that represents the right to receive 80% of the net proceeds from any out-license or disposition of ACELYRIN's development programs or intellectual property.
On February 6, 2025, ACELYRIN announced an agreement to merge with Alumis Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALMS#NASDAQ">ALMS</a>) in an all-stock transaction. The transaction is expected to close in the second quarter of 2025, subject to approval by the stockholders of both companies and satisfaction of other customary closing conditions.

ALMS

SLRN

Reported Earlier, ACELYRIN Confirms Unsolicited $3/Share Offer From Concentra Biosciences Amid Pending Alumis Merger

Solaris Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SEI#NYSE">SEI</a>) reported quarterly earnings of $0.12 per share which missed the analyst consensus estimate of $0.14 by 14.29 percent. This is a 20 percent decrease over earnings of $0.15 per share from the same period last year. The company reported quarterly sales of $96.297 million which missed the analyst consensus estimate of $96.950 million by 0.67 percent. This is a 52.02 percent increase over sales of $63.347 million the same period last year.

Earnings

Earnings Misses

Solaris Energy Q4 2024 Adj. EPS $0.12 Misses $0.14 Estimate, Sales $96.297M Miss $96.950M Estimate

Idemitsu Kosan Co., Ltd. (hereinafter, "Idemitsu Kosan") and Mitsubishi Electric Corporation (hereinafter, "Mitsubishi Electric") are pleased to announce that they have agreed to start collaboration for use of biomass plastics in home appliances, with the aim of promoting biomass plastics in the home appliance market. Idemitsu Kosan will produce biomass chemicals using the mass balance method. Mitsubishi Electric aims to use biomass plastics made from the chemicals for Mitsubishi Electric's home appliances (e.g., air conditioners and refrigerators).

MIELY

Reported Earlier, Mitsubishi Electric And Idemitsu Kosan Join Forces To Advance Biomass Plastics In Home Appliances

Buenaventura Mining Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BVN#NYSE">BVN</a>) reported quarterly earnings of $0.13 per share. This is a 425 percent increase over losses of $(0.04) per share from the same period last year. The company reported quarterly sales of $299.600 million which beat the analyst consensus estimate of $296.721 million by 0.97 percent. This is a 18.05 percent increase over sales of $253.800 million the same period last year.

Earnings Beats

Buenaventura Mining Co Q4 2024 GAAP EPS $0.13 Up From $(0.04) YoY, Sales $299.600M Beat $296.721M Estimate

Glauber Contessoto,&nbsp;popularly known as&nbsp;SlumDOGE Millionaire, advocated buying &#8216;conviction plays&#8217; like frog-themed Pepe (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">PEPE</a>) on Thursday, amid a broader slump in the meme coin market.
What Happened: SlumDOGE Millionaire encouraged his X followers to seize the opportunity presented by the ongoing correction to invest in meme coins &#8220;like there&#8217;s no tomorrow.&#8221;
However, the popular trader was specific about the coins to consider. &#8220;And when I say meme coins, I don't mean max extract Dave Portnoy bullshit,&#8221; referring to the <a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43647226/dave-portnoy-buys-risk-laden-dave-fartnoy-after-promoting-controversial-jailstool-im-in-this-one-to-make-money">controversial promotions</a> by the Barstool Sports&nbsp;founder.&nbsp;
He highlighted &#8220;conviction plays&#8221; like PEPE, Brett (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">BRETT</a>), Floki (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">FLOKI</a>), and Official Trump (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">TRUMP</a>)&nbsp;as the ideal bet in these times.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I know y'all don't want to hear this &#x1f937;&#x1f3fc;&#x200d;&#x2642;&#xfe0f; But this is probably the best time to start buying meme coins like there's no tmrw And when I say meme coins I don't mean max extract Dave Portnoy bullshit I mean conviction plays like:<a href="https://twitter.com/search?q=%24PEPE&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$PEPE</a><a href="https://twitter.com/search?q=%24BRETT&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BRETT</a><a href="https://twitter.com/search?q=%24FLOKI&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$FLOKI</a><a href="https://twitter.com/search?q=%24TRUMP&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TRUMP</a> Just to name a few…
&mdash; SlumDOGE Millionaire (@ProTheDoge) <a href="https://twitter.com/ProTheDoge/status/1892603506218913958?ref_src=twsrc%5Etfw">February 20, 2025</a></blockquote>
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The trader claimed to have <a href="https://drupal-cloudfront.benzinga.com/topic/slumdoge-millionaire">invested extensively</a> in Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) during its early days and went from being a struggling music producer to a millionaire in 69 days.
See Also:<a href="https://www.benzinga.com/24/12/42735744/pharma-bro-martin-shkreli-predicts-doom-for-michael-saylors-microstrategy-as-stock-dips-below-300-in-after-hours-trading"> </a><a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43826697/bitcoin-early-in-bull-market-can-compete-with-gold-etfs-blockstream-ceo-says">Bitcoin &#8216;Early In Bull Market,&#8217; Can Compete With Gold ETFs, Blockstream CEO Says</a>
Why It Matters: SlumDOGE Millionaire&#8217;s advocacy comes amid a significant downturn for the meme coin market. Over the last month, the combined capitalization has fallen by 33%.
However, like him, a few other traders have also backed PEPE over <a href="https://in.benzinga.com/trading-ideas/movers/25/02/43805854/pepe-bull-questions-traders-selling-frog-themed-memecoin-theyll-fomo-back-in-higher-than-they-sold">celebrity-backed meme coins</a> that have sparked controversy lately.
Moreover, losses sustained by the Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)-based token in the last week were considerably less than those by blue-chip coins like Dogecoin (CRYPTO: DOGE and Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>).
Having said that, PEPE balance held by long-term holders dropped by 0.05% in the last 24 hours, <a href="https://app.intotheblock.com/" target="_blank" rel="noreferrer noopener">according </a>to IntoTheBlock, suggesting a bearish sentiment.
Price Action: At the time of writing, PEPE was exchanging hands at $0.000009758, up 1.98% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA.." target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>. Year-to-date, the coin was down 49%.
Photo Courtesy: Shutterstock.com
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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.

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Dogecoin 'Millionaire' Pushes 'Conviction Plays' Like PEPE Like There's No Tomorrow: 'Best Time To Start Buying'

Reported Earlier, Waystar Prices $800M Public Offering Of 200M Common Shares At $40/Share

Rivian Automotive Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>) shares rose over 5% in after-hours trading Wednesday before pulling back, despite delivering conservative 2025 guidance, as strong regulatory credit sales helped the electric vehicle maker beat fourth-quarter expectations.
What Happened: The Future Fund Managing Partner Gary Black expressed surprise at the stock&#8217;s positive reaction, noting on X that the &#8220;4Q gross profit beat [was] driven by one-time reg credit sales&#8221; amid &#8220;clearly weak FY&#8217;25 guidance.&#8221;
The EV manufacturer reported <a href="https://www.benzinga.com/25/02/43867210/rivian-automotive-q4-earnings-highlights-revenue-beat-eps-beat-2025-guidance-truly-transformational-product-r2-coming">record quarterly revenue</a> of $1.73 billion, surpassing analyst estimates of $1.4 billion, while posting an adjusted loss of 46 cents per share, better than the expected 65-cent loss. Rivian achieved a fourth-quarter gross profit of $170 million, largely driven by $299 million in regulatory credit sales.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24RIVN&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$RIVN</a> (+5% post market) posted better than expected 4Q revs and gross profit ($170M vs $64M exp) driven by huge one time sales of reg credits ($299M). FY'25 guidance was light on deliveries 46K-51K vs 54.9K exp, and adj EBITDA was at the low end of expectations (-$1.7B to -$1.9B…
&mdash; Gary Black (@garyblack00) <a href="https://twitter.com/garyblack00/status/1892695119536783572?ref_src=twsrc%5Etfw">February 20, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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&#8220;This quarter we achieved positive gross profit and removed $31,000 in automotive cost of goods sold per vehicle delivered in Q4 2024 relative to Q4 2023,&#8221; said Rivian CEO RJ Scaringe. &#8220;Our focus on cost efficiency across the business is critical for the launch of our mass market product.&#8221;
However, the company&#8217;s 2025 outlook fell short of Wall Street expectations, projecting 46,000 to 51,000 vehicle deliveries compared to analysts&#8217; forecast of 54,900. Rivian expects adjusted EBITDA losses between $1.7 billion and $1.9 billion, with predictions of only &#8220;modest&#8221; gross profit for the year.
See Also: <a href="https://www.benzinga.com/markets/asia/25/02/43872677/alibaba-cfo-toby-xu-touts-5-drop-in-share-count-thanks-to-aggressive-buybacks-as-jack-ma-founded-company-basks-in-stellar-q3-results">Alibaba CFO Toby Xu Touts 5% Drop In Share Count Thanks To Aggressive Buybacks As Jack Ma-Founded Company Basks In Stellar Q3 Results</a>
Why It Matters: The guidance comes amid uncertainty surrounding Rivian&#8217;s $6.6 billion federal loan for its <a href="https://www.benzinga.com/markets/equities/25/02/43806303/tesla-rival-rivians-6-6-billion-federal-loan-under-scrutiny-as-trump-administration-reviews-funding">Georgia manufacturing plant</a>, which is under review by President Donald Trump&#8216;s administration. The facility, planned to produce the company&#8217;s more affordable R2 and R3 vehicles, aims to reach an annual production capacity of 400,000 EVs by 2028.
Rivian closed several <a href="https://www.benzinga.com/25/02/43867210/rivian-automotive-q4-earnings-highlights-revenue-beat-eps-beat-2025-guidance-truly-transformational-product-r2-coming">strategic moves in the quarter</a>, including finalizing a joint venture with Volkswagen AG (OTC:<a class="ticker" href="https://www.benzinga.com/stock/VWAGY#OTC">VWAGY</a>) worth up to $5.8 billion and opening its commercial electric van sales beyond Amazon.com Inc.
Price Action: Rivian closed at $13.61, down 2.30%. After hours, it rose 0.44%. The stock is up 2.72% year to date but down 14.35% in the past year, according to <a href="https://www.benzinga.com/pro/" target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>.
Read Next:
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Image Via Shutterstock
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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