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<a href="https://x.com/CreusMoreira/status/1861350188050260172" title="https://x.com/CreusMoreira/status/1861350188050260172">https://x.com/CreusMoreira/status/1861350188050260172</a>

News

LAES

WKEY

Wisekey, SEALSQ CEO Carlos Creus Moreira Posted On X: @SEALSQcorp  $LAES Enters Testing Phase for #Quantum-Resistant #Semiconductor and Hardware Platform

Rivian Automotive, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>) shares are trading higher premarket on Tuesday. The company disclosed a conditional commitment from the U.S. Department of Energy&#8217;s Advanced Technology Vehicle Manufacturing (ATVM)<a target="_blank" href="https://www.benzinga.com/pressreleases/24/11/b42180279/rivian-receives-conditional-commitment-for-up-to-6-6-billion-loan-from-the-u-s-department-of-energ" rel="noreferrer noopener"> Loan Program for up to $6.6 billion</a>.
The loan comprises $6 billion in principal and approximately $600 million in capitalized interest.
Rivian expects the loan to support its growth and strengthen its hold in EV design, development, and manufacturing in the U.S.
If finalized, the DOE loan will help Rivian&#8217;s construction of a new facility in Stanton Springs North, Georgia, significantly expanding its U.S. production capacity to meet <a href="https://www.benzinga.com//node/42173555">domestic and international demand.</a>
The funding will primarily support the production of Rivian&#8217;s midsize platform, which includes the R2 SUV and R3/R3X midsize crossovers.
Designed, engineered, and manufactured in the U.S., these vehicles are expected to combine capability, performance, functionality, and competitive pricing, positioning them as key contributors to Rivian&#8217;s long-term growth and profitability.
The DOE loan would boost the U.S. EV industry, creating 7,500 operational jobs and 2,000 construction jobs at Rivian&#8217;s planned Georgia facility, with Phase 1 production starting in 2028.
The facility will add 400,000 units of annual capacity in two phases, supporting domestic and international markets.
These efforts complement jobs at Rivian&#8217;s Illinois plant, strengthening the U.S. EV ecosystem and economy.
Rivian plans to build a state-of-the-art manufacturing facility at the Stanton Springs site near Atlanta, incorporating advanced construction techniques, environmental management, and community investments while preserving natural spaces.
The DOE&#8217;s conditional loan commitment signals intent to finance Rivian&#8217;s project, pending fulfillment of technical, legal, environmental, and financial conditions.
If approved, the loan will be secured by the project&#8217;s assets, fixed assets, and guarantees from Rivian Automotive, Inc. and select subsidiaries.
Investors can gain exposure to the stock via&nbsp;Renaissance IPO ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IPO#NYSE">IPO</a>) and First Trust NASDAQ Clean Edge Green Energy Index Fund (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCLN#NASDAQ">QCLN</a>).
Price Action: RIVN shares are up 6.037% at $12.30 premarket at the last check Tuesday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/24/11/42181771/rivian-ceo-tesla-exec-slam-restrictions-on-direct-to-customer-sales" target="_blank" rel="noreferrer noopener">Rivian CEO, Tesla Exec Slam Restrictions On Direct-To-Customer Sales: RJ Scaringe Says It Is &#8216;As Close As You Can Get To Corruption&#8217;</a></li>
</ul>
Image via Shutterstock.

Equities

Government

Large Cap

Contracts

Movers

General

First Trust NASDAQ Clean Edge Green Energy Index Fund

QCLN

RIVN

Rivian Rides High: $6.6 Billion DOE Loan Commitment Fuels EV Expansion

The Federal Aviation Administration (FAA) has completed the environmental assessment for the impact of the increased number of Starship launches from Boca Chica, Texas, up to 25 launches a year.
What Happened: Members of the public can comment on the assessment till Jan. 17, 2025. 
Starship is presently cleared for 5 Starship launches in a year. As per the FAA&#8217;s assessment, the increase in launch cadence is not expected to result in any additional impact.
&#8220;Based on the above review&#8230; the FAA has concluded that the modification of SpaceX's existing vehicle operator license for Starship/Super Heavy operations conforms to the prior environmental documentation, consistent with the data contained in the 2022 PEA (Programmatic Environmental Assessment), that there are no significant environmental changes, and all pertinent conditions and requirements of the prior approval have been met or will be met in the current action,&#8221; the FAA said. 
Formal approval will come after the FAA takes in comments and reviews them. It is unclear how long it would take. 
Why It Matters: Starship is currently in the testing and development phase. 
The company has conducted six test flights of the vehicle thus far but without a payload. The last flight test took place earlier in November and NASA is looking forward to taking humans back to 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>.
&#8220;&#8230;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">said at the Baron Investment Conference</a> in New York earlier this month. 
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/general/space/24/11/42181019/spacex-falcon-heavy-to-launch-nasas-dragonfly-mission-to-saturns-largest-moon-in-2028" target="_blank" rel="noreferrer noopener">SpaceX Falcon Heavy To Launch NASA's Dragonfly Mission To Saturn's Largest Moon In 2028</a></li>
</ul>
Photo courtesy: SpaceX

SPACE

Tech

FAA Invites Comments On Increasing SpaceX's Starship Launches By 5X To 25 Next Year

William Blair analyst Sami Corwin initiates coverage on Cargo Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRGX#NASDAQ">CRGX</a>) with a Outperform rating.

Initiation

Analyst Ratings

CRGX

William Blair Initiates Coverage On Cargo Therapeutics with Outperform Rating

Bitcoin-related stocks saw a decline in Tuesday&#8217;s pre-market trading as Bitcoin&#8217;s price slipped from its recent highs. The cryptocurrency&#8217;s rally appears to be losing steam after nearing the significant $100,000 milestone.
What Happened: Bitcoin, often dubbed &#8220;King Crypto,&#8221; was trading at $93,590.38 at 5:00 AM Eastern Time. A prominent trader has warned that if Bitcoin fails to break through the $100,000 resistance level, it could experience a significant correction, potentially dropping to $85,600 in a worst-case scenario.
As Bitcoin&#8217;s momentum seems to be waning, stocks tied to the cryptocurrency also face declines. As per <a href="https://pro.benzinga.com">Benzinga Pro</a>, MARA Holdings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MARA#NASDAQ">MARA</a>) dropped by 3.63%, MicroStrategy Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) fell by 3.33%, and Coinbase Global Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) decreased by 3.40% in pre-market trading on Tuesday.
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 Profitable Company In The US Growing The Fastest Right Now&#8217;</a>
Why It Matters: The recent dip in Bitcoin&#8217;s price comes amid a broader <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42163156/why-bitcoins-rally-is-stalling-below-100000">cooling of bullish sentiment </a>in the cryptocurrency market. According to&nbsp;Santiment data, the enthusiasm that fueled a prolonged rally since September is waning, especially for major cryptocurrencies like Bitcoin and Ethereum. 
Adding to the concerns, a&nbsp;crypto analyst&nbsp;known for accurately predicting the <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42154900/crypto-expert-who-called-2022-market-crash-warns-about-bitcoin">2022 market crash</a> has warned that Bitcoin may be approaching a local top. The analyst, known as Capo, has highlighted indicators such as overextended bullish sentiment and diminishing momentum as signs that a correction could be imminent.
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42173805/bitcoin-dogecoin-dip-ethereum-stays-green-trader-predicts-first-major-btc-correction-only-after-one-key-level-hits?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin, Dogecoin Dip, Ethereum Stays Green: Trader Predicts &#8216;First Major BTC Correction&#8217; Only After One</a></li>
</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.
Image via Shutterstock

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

Cryptocurrency

Markets

COIN

MARA

MSTR

MicroStrategy, Coinbase, And Other Bitcoin-Linked Stocks Tumble As BTC's March To $100,000 Stalls

The portfolio comprises loans that finance assets located largely in Western Europe and the US across the digital infrastructure, utility scale renewable, energy efficiency and transportation sectors.

Funds Managed By Blackstone Credit & Insurance To Acquire Interests In $1B Portfolio Of Infrastructure Loans From Santander

Shares of Poseida Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PSTX#NASDAQ">PSTX</a>) rose sharply in today's pre-market trading after the company <a href="https://www.benzinga.com/quote/PSTX/news">agreed to be acquired by Roche in a $1.5 billion deal.</a>
Poseida Therapeutics shares jumped 218.8% to $9.12 in the pre-market trading session.
Here are some other stocks moving in pre-market trading.
<h3 class="wp-block-heading">Gainers</h3>
<ul>
<li>ZenaTech, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZENA#NASDAQ">ZENA</a>) gained 61.5% to $10.37 in pre-market trading after climbing around 259% on Monday.</li>
<li>T Stamp Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IDAI#NASDAQ">IDAI</a>) rose 52.8% to $0.2750 in pre-market trading.</li>
<li>Spectral AI, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MDAI#NASDAQ">MDAI</a>) gained 33.6% to $1.7500 in pre-market trading after gaining around 10% on Monday.</li>
<li>Channel Therapeutics Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHRO#NASDAQ">CHRO</a>) gained 22.7% to $0.7400 in pre-market trading after declining around 9% on Monday.</li>
<li>Hesai Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HSAI#NASDAQ">HSAI</a>) climbed 20% to $5.70 in pre-market trading after the company posted upbeat quarterly sales.</li>
<li>Semtech Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMTC#NASDAQ">SMTC</a>) gained 18% to $63.06 in pre-market trading after the company reported better-than-expected third-quarter financial results and issued fourth-quarter guidance with its midpoint above estimates.</li>
<li>SEALSQ Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LAES#NASDAQ">LAES</a>) gained 16.9% to $0.5499 in pre-market trading after gaining 4% on Monday.</li>
<li>Onconetix, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ONCO#NASDAQ">ONCO</a>) gained 14.9% to $0.9179 in pre-market trading after dipping around 27% on Monday.  </li>
<li>Woodward, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WWD#NASDAQ">WWD</a>) gained 10.7% to $198.55 in pre-market trading after the company reported better-than-expected quarterly EPS and sales.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul>
<li>Alector, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALEC#NASDAQ">ALEC</a>) shares tumbled 31.3% to $2.72 in pre-market trading after the company announced that the INVOKE-2 Phase 2 clinical trial evaluating the safety and efficacy of AL002 in individuals with early Alzheimer&#8217;s disease failed to meet its primary endpoint.</li>
<li>Leslie&#8217;s, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LESL#NASDAQ">LESL</a>) shares fell 18.5% to $2.86 in pre-market trading after the company reported worse-than-expected fourth-quarter adjusted EPS and sales.</li>
<li>Quantum Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QMCO#NASDAQ">QMCO</a>) shares fell 16% to $18.29 in pre-market trading. Quantum shares jumped 138% on Monday after Amazon announced it has launched its Quantum Embark Program.</li>
<li>YXT.COM Group Holding Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/YXT#NASDAQ">YXT</a>) fell 14.6% to $2.52 in pre-market trading.</li>
<li>Procaps Group SA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PROC#NASDAQ">PROC</a>) declined 12.6% to $1.11 in pre-market trading after surging 38% on Monday.</li>
<li>Kingsoft Cloud Holdings Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KC#NASDAQ">KC</a>) shares dipped 10.5% to $6.22 in pre-market trading.</li>
<li>Quantum Computing Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QUBT#NASDAQ">QUBT</a>) fell 8.1% to $7.07 in pre-market trading. Quantum Computing shares jumped 26% on Monday after AWS announced Quantum Embark program.</li>
<li>Electrovaya Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ELVA#NASDAQ">ELVA</a>) fell 8.1% to $2.50 in pre-market trading after gaining 13% on Monday.</li>
<li>Zoom Video Communications, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZM#NASDAQ">ZM</a>) fell 7.8% to $82.02 in today's pre-market trading. Zoom Video posted better-than-expected results for its third quarter and raised its guidance for the full year.</li>
<li>Wearable Devices Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WLDS#NASDAQ">WLDS</a>) dipped 5.8% to $2.60 in pre-market trading after jumping over 46% on Monday.</li>
</ul>
Now Read This: 
<ul>
<li><a href="https://www.benzinga.com/24/11/42181602/dow-sp-500-reach-fresh-highs-investor-sentiment-improves-fear-greed-index-remains-in-greed-zone">Dow, S&amp;P 500 Reach Fresh Highs: Investor Sentiment Improves, Fear Index Remains In &#8216;Greed&#8217; Zone</a></li>
</ul>

Pre-Market Outlook

Trading Ideas

ALEC

CHRO

ELVA

HSAI

IDAI

LESL

MDAI

ONCO

PROC

PSTX

QMCO

QUBT

SMTC

WLDS

ZENA

Why Poseida Therapeutics Shares Are Trading Higher By 219%; Here Are 20 Stocks Moving Premarket

HC Wainwright &amp; Co. analyst Douglas Tsao reiterates Biohaven (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BHVN#NYSE">BHVN</a>) with a Buy and maintains $59 price target.

Price Target

Reiteration

BHVN

HC Wainwright & Co. Reiterates Buy on Biohaven, Maintains $59 Price Target

Intel Corporation and the Biden-Harris Administration announced today that the U.S. Department of Commerce and Intel have reached agreement on terms to award the company up to $7.86 billion in direct funding for its commercial semiconductor manufacturing projects under the U.S. CHIPS and Science Act. The award will support Intel's previously announced plans to advance critical semiconductor manufacturing and advanced packaging projects at its sites in Arizona, New Mexico, Ohio and Oregon. Intel also plans to claim the U.S. Treasury Department's Investment Tax Credit, which is expected to be up to 25% of qualified investments of more than $100 billion.

Regulations

INTC

Intel Bags $7.86B Subsidy Under US CHIPS Act, Eyes US Treasury Department's Investment Tax Credit

Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) is reportedly changing its approach to software updates. The tech giant appears to be opting for staggered rollouts of new features instead of bundling everything into annual iOS releases.
What Happened: In his latest weekly "Power On" newsletter, Bloomberg columnist Mark Gurman said that Cupertino plans a significant update with iOS 18.4 this spring.
However, several features that were initially set for the latter half of 2025 are now delayed.
Previously, the analyst reported that the much-anticipated Siri overhaul, which aims to <a href="https://www.benzinga.com/media/24/11/42129847/apple-prepares-to-take-on-openais-chatgpt-google-gemini-live-with-llm-siri-in-2025-report">incorporate in-house</a> LLMs for a more conversational assistant, was also pushed back. 
Beyond LLMS, a larger-than-usual number of features for iOS 19 are also postponed till spring 2026. That's around when iOS 19.4 will be released, said Gurman in the newsletter.
See Also:&nbsp;<a href="https://www.benzinga.com/tech/24/11/42182829/apple-could-keep-airpods-max-headphones-around-without-meaningfully-updating-them-says-analyst-heres-why">Apple Could Keep AirPods Max Headphones Around Without &#8216;Meaningfully&#8217; Updating Them, Says Analyst: Here&#8217;s Why</a>
<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">Apple is planning a big update for spring with iOS 18.4, but some capabilities planned for later in 2025 are already postponed. I'm told that a larger-than-usual number of features for iOS 19 (beyond LLM Siri) are already delayed till spring 2026 (19.4). <a href="https://t.co/j7au0Dp4MD">https://t.co/j7au0Dp4MD</a>
&mdash; Mark Gurman (@markgurman) <a href="https://twitter.com/markgurman/status/1860722835573879152?ref_src=twsrc%5Etfw">November 24, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</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.
Why It Matters: Earlier this month, Cupertino alerted investors about the potential uncertainty in the profitability of its future products, including AI and virtual reality.
In its updated annual report, Apple included a new &#8220;risk factors&#8221; section, highlighting that some of its upcoming products may <a href="https://www.benzinga.com/news/24/11/41773589/apple-signals-profit-risks-in-ai-and-vr-shift-what-it-means-for-investors">not achieve the same revenue</a> and profit margins as its flagship product, the iPhone.
Apple reported fiscal <a href="https://www.benzinga.com/news/earnings/24/10/41666494/apple-q4-earnings-revenue-beat-eps-beat-installed-base-hits-new-highs-iphone-sales-rise-as-apple-in">fourth-quarter revenue</a> of $94.9 billion, surpassing analyst expectations of $94.56 billion. The company also posted adjusted earnings of $1.64 per share, beating the anticipated $1.60 per share.
This marked the seventh straight quarter that Apple has outperformed analyst forecasts for both revenue and earnings, <a href="http://pro.benzinga.com/">according to Benzinga Pro</a>.
During the earnings call at the time, Apple CEO Tim Cook shared that the adoption rate of iOS 18.1 is double that of iOS 17.1.
During the same call, Apple CFO Luca Maestri was asked about the company's capital expenditure outlook, particularly concerning investments in private cloud computing and AI.
What Analysts Are Saying: Goldman Sachs analyst Michael Ng inquired whether these investments could affect Apple&#8217;s typical annual capex range of around $10 billion.
In response, Maestri explained that Apple uses a hybrid model for its data centers, combining both proprietary and third-party resources. This makes its capex numbers distinct from other companies.
He confirmed that Apple is already investing in infrastructure to support its AI-related features, with additional spending planned for fiscal year 2025.
In its 10-K filing filed in November, Apple reported research and development expenses of $31.37 billion, rising 5% over 2023.
Price Action: Apple&#8217;s stock rose 1.31% on Monday, closing at $232.87, but dipped 0.18% in after-hours trading. Year-to-date, the company&#8217;s shares have increased by 25.44%, slightly trailing the Nasdaq 100 index, which has gained 25.8%, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.
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/global/24/11/42132104/huawei-to-launch-mate-70-smartphone-with-advanced-homegrown-chip-challenging-apple-in-china-amid-us-sanctions-report" target="_blank" rel="noreferrer noopener">Apple Faces New Challenge As Huawei Advances Domestic Chip Tech In Mate 70 Series Amid US Sanctions: Report</a></li>
</ul>
Photo courtesy: Apple

Media

AAPL

Apple May Delay Key iOS 19 Features As It Reportedly Adopts Staggered Rollouts Amid AI Investment Push

Daiwa Capital analyst Kahori Tamada downgrades Target (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TGT#NYSE">TGT</a>) from Outperform to Neutral and announces $130 price target.

Downgrades

Daiwa Capital Downgrades Target to Neutral, Announces $130 Price Target

RBC Capital analyst Luca Issi initiates coverage on Dyne Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DYN#NASDAQ">DYN</a>) with a Outperform rating and announces Price Target of $45.

RBC Capital Initiates Coverage On Dyne Therapeutics with Outperform Rating, Announces Price Target of $45

Needham analyst Chris Pierce reiterates ACV Auctions (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACVA#NASDAQ">ACVA</a>) with a Buy and maintains $26 price target.

ACVA

Needham Reiterates Buy on ACV Auctions, Maintains $26 Price Target

RBC Capital analyst Luca Issi initiates coverage on Avidity Biosciences (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RNA#NASDAQ">RNA</a>) with a Outperform rating and announces Price Target of $67.

RBC Capital Initiates Coverage On Avidity Biosciences with Outperform Rating, Announces Price Target of $67

In a recent investor webinar,&nbsp;Cathie Wood&nbsp;shared her perspective on how a potential second term for&nbsp;Donald Trump&nbsp;might influence the IPO market. 
What Happened: Wood expressed optimism about the future direction of the market.
&#8220;If the market continues to move forward in the way we believe it will…we believe that the IPO market will open up and that will give us a chance, lots of opportunities to diversify our portfolios and it will give our venture funds liquidity events that they have not enjoyed during the last four years,&#8221; she said.
Her comments, made during a session released on Friday, come at a time when the market is experiencing increased volatility that anticipated the effect of a second term of Trump on the Wall Street.
See Also:&nbsp;<a href="https://www.benzinga.com/markets/24/11/42131413/gop-megadonor-ken-griffin-is-open-to-the-possibility-of-selling-minority-stake-in-citadel?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">GOP Megadonor Ken Griffin Is &#8216;Open To The Possibility&#8217; Of Selling Minority Stake In Citadel</a>
Why It Matters: Wood&#8217;s comments <a href="https://www.benzinga.com/markets/24/11/42054299/chamath-palihapitiya-says-dont-expect-crazy-ma-deals-in-2025">contrast that of investor</a> Chamath Palihapitiya who feels that there won&#8217;t be the mega IPOs expected.
&#8220;The IPO market is what the IPO market is. And if the 10 year is back to 4.5-5%, that&#8217;s not a compelling strategy for some SaaS company or some internet business that didn&#8217;t take an opportunity to go public when rates were at zero. So if you just look mathematically at what the actual fair value of these companies should be, I don&#8217;t know, it&#8217;s not like such a great IPO market,&#8221; he said during one of the recent episodes of the All-In Podcast.
Investors are keenly observing which of<a href="https://www.benzinga.com/markets/24/11/41869001/heres-how-trumps-policies-might-shape-the-markets-future"> Trump&#8217;s campaign promises</a> might translate into policy actions. While some pledges, like reducing corporate taxes and deregulation, could benefit the economy and stock prices, others, such as strict immigration policies and high tariffs, might pose economic challenges.
Former Treasury Secretary&nbsp;Larry Summers&nbsp;has warned that Trump&#8217;s proposed economic policies could lead to significant economic disruption. In a&nbsp;<a href="https://www.benzinga.com/news/global/24/11/42180906/larry-summers-warns-trump-policies-could-trigger-far-larger-stimulus-to-inflation-than-bidens-actions-as-sp-500-surges-markets-go-up-markets-go-down">recent interview</a>, Summers expressed concerns about the potential for a massive demand-side stimulus and substantial supply-side disruptions. He emphasized that if implemented, Trump&#8217;s program could result in a larger inflation stimulus than any measures enacted by President&nbsp;Joe Biden.
Price Action: Meanwhile, S&amp;P 500 and NASDAQ tracked by SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust, Series 1 (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) have gained 2.88% and 2.26% respectively, in the month of November. 
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42152520/dogecoin-whales-move-214-5m-in-a-single-day-sparking-speculation?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Dogecoin Whales Move $214.5M In A Single Day, Sparking Speculation</a></li>
</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.
Image via Ark Invest

Analyst Color

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Cryptocurrency markets are on the cusp of a potentially transformative period, with leading analysts forecasting a significant surge in alternative cryptocurrencies driven by complex <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42179986/bitcoin-dogecoin-reverse-ethereum-gains-as-stocks-touch-new-peaks-top-analyst-anticipates-no-major-correction-for-btc-until-135k">economic indicators and market sentiment</a>.
What Happened: Mikybull, a prominent crypto trader, offered an intricate market perspective on X, emphasizing that if Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) continues hovering around the $95,000-$94,000 range, alternative cryptocurrencies will likely experience substantial performance. 
He boldly <a href="https://x.com/MikybullCrypto/status/1861286914227052863">proclaimed</a> that the &#8220;Altcoins dominance&#8221; has climbed above the trend ribbon, signaling an impending outperformance in the coming weeks.
The trader further predicted that Ethereum&#8216;s (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) next rally to $6,000 has already commenced, suggesting that the &#8220;Altseason storm&#8221; is about to reach its next intensity level. This forecast comes amid a dynamic market landscape where cryptocurrencies are responding to nuanced economic signals.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/Altcoins?src=hash&amp;ref_src=twsrc%5Etfw">#Altcoins</a> <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> next wave of rally to $6k has begun.<a href="https://twitter.com/hashtag/ALTSEASON?src=hash&amp;ref_src=twsrc%5Etfw">#ALTSEASON</a> next level of storm in this cycle is about to kick off. <a href="https://t.co/ojX0sMKBo7">pic.twitter.com/ojX0sMKBo7</a>
&mdash; Mikybull &#x1f402;Crypto (@MikybullCrypto) <a href="https://twitter.com/MikybullCrypto/status/1860991317532193175?ref_src=twsrc%5Etfw">November 25, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Michaël van de Poppe, another crypto analyst, provided deeper insights into Ethereum&#8217;s remarkable performance. He highlighted a &#8220;massive bullish divergence&#8221; in Ethereum&#8217;s market behavior, directly linking its outperformance to dropping government bond yields. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The sole reason that <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> started to move so significantly is due to the impact of the Yield markets on Ethereum. Next week is Labor market week, if that&#39;s going to be bad, then likely the FED will do more rate cuts &#8211;&gt; yields drop &#8211;&gt; <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> up. <a href="https://t.co/JddKoGSrUv">pic.twitter.com/JddKoGSrUv</a>
&mdash; Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1861122683808948482?ref_src=twsrc%5Etfw">November 25, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Poppe emphasized that the sole reason for Ethereum&#8217;s significant movement is the impact of yield markets, creating a complex interplay between traditional financial instruments and digital assets.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42179986/bitcoin-dogecoin-reverse-ethereum-gains-as-stocks-touch-new-peaks-top-analyst-anticipates-no-major-correction-for-btc-until-135k">Bitcoin, Dogecoin Reverse, Ethereum Gains As Stocks Touch New Peaks: Top Analyst Anticipates No &#8216;Major&#8217; Correction For BTC Until $135K</a>
Looking ahead, Poppe anticipates that the upcoming Labor Market Week could be pivotal. He suggests that potentially weak labor market data might prompt the Federal Reserve to implement more rate cuts, consequently driving down yields and potentially propelling Ethereum&#8217;s valuation.
Why It Matters: Current market data from the CME FedWatch <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">tool</a> indicates shifting rate cut probabilities. The likelihood of a rate cut at the Dec. 18 Federal Reserve meeting has decreased to 55.9% from 74.6% a month ago, with the current federal funds rate sitting between 450-475 basis points.
The cryptocurrency landscape has witnessed notable movements, with Ethereum <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42179986/bitcoin-dogecoin-reverse-ethereum-gains-as-stocks-touch-new-peaks-top-analyst-anticipates-no-major-correction-for-btc-until-135k">breaking past $3,500 for the first time</a> in four months. This rally triggered strong inflows into Ether spot exchange-traded funds, totaling $283,000, while Bitcoin ETFs experienced outflows exceeding $684 million.
Traders define &#8220;Altcoin Season&#8221; as a period when 75% of <a href="https://www.benzinga.com/24/11/42030200/bitcoin-dominance-decline-expected-next-month-analyst-projects-altseason-to-peak-by-march-2025">alternative cryptocurrencies outperform Bitcoin</a>—a threshold that indicators suggest that the market may be rapidly approaching.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/24/11/42022585/michael-van-de-poppe-says-bitcoin-ethereum-and-altcoins-close-to-the-point-where-investors-can-buy-the-dip">Crypto Billionaire Justin Sun Pledges $30M Investment In Trump-Backed World Liberty Financial: What&#8217;s Happening?</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.

$BTC

$ETH

'Altseason Storm' Is Intensifying, Says Prominent Crypto Trader, Ethereum Begins Rally To $6K As Bitcoin Consolidates

HSBC analyst Saul Martinez downgrades Morgan Stanley (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>) from Buy to Hold and raises the price target from $128 to $131.

HSBC Downgrades Morgan Stanley to Hold, Raises Price Target to $131

HSBC analyst Saul Martinez downgrades Goldman Sachs Gr (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>) from Buy to Hold and raises the price target from $569 to $608.

HSBC Downgrades Goldman Sachs Gr to Hold, Raises Price Target to $608

Needham analyst Chris Pierce reiterates TrueCar (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TRUE#NASDAQ">TRUE</a>) with a Buy and maintains $5 price target.

TRUE

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