Latest news for Kanamoto Co (OTC:KNMOF) Stock

Kanamoto Co Ltd is a provider of construction equipment rentals. The company operates three business segments: construction equipment rental, steel products, and computing products. The construction equipment rental business is Kanamoto's core business, accounting for most of the company's revenue. The company owns various hand tools and construction equipment, such as dump trucks and hydraulic excavators, which it rents out to its customers. The steel products business sells various construction materials for engineering and construction works. The computing products business provides rentals and sale of computer-related equipment. Kanamoto operates in Asia.

Kanamoto Co Ltd

Tesla Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) has been spotted testing the <a href="https://www.benzinga.com/topic/tesla-cybercab">recently announced Cybercab</a> at the Giga Texas facility.
What Happened: Tesla&#8217;s Cybercab has been observed undergoing tests at the Giga Texas facility. A video shared on social media showcased the Cybercab navigating traffic autonomously within the premises.
<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">Tesla Cybercab seen driving at Giga Texas!!!<a href="https://twitter.com/hashtag/robotaxi?src=hash&amp;ref_src=twsrc%5Etfw">#robotaxi</a> <a href="https://twitter.com/hashtag/cybercab?src=hash&amp;ref_src=twsrc%5Etfw">#cybercab</a> <a href="https://twitter.com/hashtag/gigatexas?src=hash&amp;ref_src=twsrc%5Etfw">#gigatexas</a> <a href="https://twitter.com/hashtag/elonmusk?src=hash&amp;ref_src=twsrc%5Etfw">#elonmusk</a> &#x1f4f7; &#x1f3a5; <a href="https://twitter.com/AdanGuajardo?ref_src=twsrc%5Etfw">@AdanGuajardo</a> <a href="https://t.co/DSwab7cHEE">pic.twitter.com/DSwab7cHEE</a>
&mdash; Adan Guajardo (@AdanGuajardo) <a href="https://twitter.com/AdanGuajardo/status/1855699011724063190?ref_src=twsrc%5Etfw">November 10, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Earlier this month, the electric&nbsp;vehicle community was abuzz when a video surfaced showing the Cybercab in action at Giga Texas. The footage highlighted the robotaxi&#8217;s self-driving capabilities, sparking excitement among enthusiasts.
Longtime Giga Texas observer Joe Tegtmeyer reported that Tesla has been conducting test drives of the Cybercab along the main building of the factory over the past weeks. Notably, a modified gaming joystick is used for manual interventions during these tests.
<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">Cybercab News from Giga Texas!<a href="https://twitter.com/Tesla?ref_src=twsrc%5Etfw">@Tesla</a> has been testing &amp; driving the Cybercab around the factory site over the past couple of weeks, including drive tests on the west side along the length of the main factory as shown in this short video clip. Additional testing has also been… <a href="https://t.co/4S7hyGcIwx">pic.twitter.com/4S7hyGcIwx</a>
&mdash; Joe Tegtmeyer &#x1f680; &#x1f920;&#x1f6f8;&#x1f60e; (@JoeTegtmeyer) <a href="https://twitter.com/JoeTegtmeyer/status/1861443943923167260?ref_src=twsrc%5Etfw">November 26, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also:&nbsp;<a href="https://www.benzinga.com/markets/24/11/42207185/tesla-sweetens-referral-program-allowing-customers-to-earn-up-to-10000-as-elon-musks-ev-giant-races-to-500k-q4-delivery-target?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Tesla Sweetens Referral Program, Allowing Customers To Earn Up To $10,000</a>
Additional tests, including water ingress tests, are reportedly being carried out at&nbsp;the west end-of-line facility and&nbsp;other areas around Giga Texas. A significant&nbsp;amount of production equipment has&nbsp;been spotted at the staging lot, hinting at a potential new production line.
During the Q3 2024 earnings&nbsp;call,&nbsp;Elon Musk&nbsp;mentioned that Tesla aims for&nbsp;<a href="https://www.benzinga.com/24/11/42131163/tesla-ceo-elon-musk-attempts-to-temper-down-expectations-of-30k-optimus-or-cybercab-soon">volume production of the Cybercab</a>&nbsp;by 2026, with initial production possibly starting in 2025. The company plans to&nbsp;produce at least 2 million&nbsp;units annually.
Why It Matters: The testing of the Cybercab at Giga Texas marks a significant step in&nbsp;<a href="https://www.benzinga.com/news/24/10/41284847/tesla-reveals-two-seater-cybercab-that-drives-itself">Tesla&#8217;s unveiling</a>&nbsp;of its two-seater robotaxi earlier this year.
The Cybercab, priced under $30,000, is part of Tesla&#8217;s strategy to revolutionize urban transportation with autonomous vehicles. This comes at a time when there is skepticism from industry rivals like&nbsp;Lucid Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LCID#NASDAQ">LCID</a>), whose CEO Peter Rawlinson <a href="https://www.benzinga.com/news/24/10/41505138/lucid-ceo-throws-cold-water-on-teslas-robotaxi-vision-says-self-driving-cars-wont-happen-till-the-20">doubts the near-term feasibility</a> of self-driving cars.
In pursuit of this goal, Tesla is actively recruiting top talent to enhance its teleoperation capabilities for the Cybercab and other projects, as reported in&nbsp;<a href="https://www.benzinga.com/24/11/42159490/elon-musks-tesla-hunts-top-talent-to-develop-software-for-robotaxi-optimus-robot-teleoperation-2">recent initiatives</a>.
Price Action: Tesla stock closed at $332.89 on Wednesday, down 1.6% for the day. In after-hours trading, the stock increased slightly by 0.5%. Year to date, Tesla&#8217;s stock has gained 34%, according to <a href="https://pro.benzinga.com/dashboard" target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>.
The consensus rating from analysts is "Neutral" for the Tesla stock, according to data from Benzinga Pro. The highest price target is $400, while the consensus price target is 232.20, implying a 30% downside.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/quote/TSLA/analyst-ratings"><img loading="lazy" decoding="async" width="948" height="350" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/28040437/Tesla-ratings.jpg" alt="" class="wp-image-668925" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/28040437/Tesla-ratings.jpg 948w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/28040437/Tesla-ratings-300x111.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/28040437/Tesla-ratings-768x284.jpg 768w" sizes="(max-width: 948px) 100vw, 948px" /></a></figure>
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/tech/24/11/42229340/tesla-cybertruck-crash-in-california-claims-3-lives-leaves-1-seriously-injured">Tesla Cybertruck Crash In California Claims 3 Lives, Leaves 1 Seriously Injured</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Tesla

News

Tech

LCID

TSLA

Tesla Cybercab Spotted Testing In Giga Texas Facility

Investors are eyeing a potential surge in&nbsp;Nvidia Corp.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) stock, with analysts predicting a significant rise in the early days of 2025. The anticipation is fueled by expectations surrounding CEO&nbsp;Jensen Huang&#8216;s <a href="https://www.benzinga.com/news/24/10/41227135/next-gen-nvidia-gpus-could-be-revealed-at-ces-2025-what-you-need-to-know">keynote address at the event</a>.
What Happened: Analysts at&nbsp;Citi&nbsp;have placed Nvidia on a &#8220;positive catalyst watch&#8221; for the upcoming 90 days, Business Insider <a href="https://markets.businessinsider.com/news/stocks/nvidia-stock-price-positive-catalyst-watch-january-2025-ces-event-2024-11">reported</a> on Thursday. The firm predicts the chipmaker&#8217;s shares could climb by 27%, reaching a target price of $175. This forecast comes as Huang prepares for his keynote at CES 2025, scheduled&nbsp;from Jan.7 to Jan.10. Huang will&nbsp;deliver the opening keynote on&nbsp;Jan. 6, followed by a Q&amp;A&nbsp;session for financial analysts on&nbsp;Jan. 7, according to Citi.
Citi analyst&nbsp;Atif Malik&nbsp;forecasts that Nvidia&#8217;s profit margin will bottom out in the April quarter, with an upward trend expected thereafter. The company is anticipated to address AI robotics demand in sectors like warehouses, manufacturing, and humanoid robots. 
See Also:&nbsp;<a href="https://www.benzinga.com/markets/commodities/24/11/42164230/amid-trumps-drill-baby-drill-pledge-strategist-predicts-us-oil-supply-will-see-marginal-increase-does-the-world-need-that-much-oil?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Amid Trump&#8217;s &#8216;Drill Baby, Drill&#8217; Pledge, Strategist Predicts US Oil Supply Will See &#8216;Marginal&#8217; Increase:&#8217;Does The World Need That Much Oil?&#8217;</a>
Citi has maintained a &#8220;Buy&#8221; rating on Nvidia shares, raising its price target from $170 to $175 following the company&#8217;s third-quarter earnings release. Nvidia shares have surged 176% year-to-date, driven by strong demand for its AI GPU chips.
Why It Matters: Nvidia&#8217;s recent financial performance has been impressive, with the company surpassing third-quarter revenue and earnings per share estimates. The revenue of $35.1 billion, was a 94% increase year-over-year, beating the Street consensus estimate of $33.12 billion. 
Additionally, the CES 2025 event is expected to be a platform for Nvidia to potentially reveal its next-generation GPUs. Rumors suggest that Nvidia <a href="https://www.benzinga.com/news/24/10/41227135/next-gen-nvidia-gpus-could-be-revealed-at-ces-2025-what-you-need-to-know">might unveil updates </a>about its RTX 50 series, including desktop GPUs based on the Blackwell architecture. This anticipated announcement could further bolster Nvidia&#8217;s market position and stock performance.
Price Action: Meanwhile, as per <a href="https://pro.benzinga.com">Benzinga Pro data</a>, Nvidia has a consensus price target of $170.56 based on the ratings of 40 analysts. The high is $220 issued by Rosenblatt while the low is $120 issued by New Street Research. 
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42196217/will-gamestop-amc-follow-microstrategy-rumble-into-bitcoin?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Will GameStop, AMC Follow MicroStrategy, Rumble Into Bitcoin?</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

Analyst Color

Markets

Analyst Ratings

General

NVDA

Nvidia's Next Big Catalyst? Analyst Sees Jensen Huang-Led Company's Stock Jumping 27% By Early 2025

<h3>Companies Reporting Before The Bell</h3>
• Rush Street Interactive (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RSI#NYSE">RSI</a>) is expected to report quarterly earnings at $0.13 per share on revenue of $304.70 million. 
<h3>Companies Reporting After The Bell</h3>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Earnings

Earnings Scheduled For November 28, 2024

Pony AI (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PONY#NASDAQ">PONY</a>) CEO James Peng emphasized the company&#8217;s strategic focus on supply chain diversification and international market expansion following its Nasdaq debut, as the autonomous driving technology firm <a href="https://www.benzinga.com/news/ipos/24/11/42228125/pony-ai-stock-falls-over-7-after-ipo-pricing-at-13-rebounds-nearly-3-in-after-hours">navigates ongoing U.S.-China tensions</a>.
What Happened: &#8220;For us, it&#8217;s nothing new. We have dealt with this for quite some time already,&#8221; Peng <a href="https://www.bloomberg.com/news/videos/2024-11-28/pony-ai-looking-outside-us-to-avoid-tensions-ceo-says-video?srnd=phx-technology">told</a> Bloomberg Television on Thursday, addressing potential chip export restrictions. 
&#8220;Our strategy was and remains to be, we will diversify our supply chain,&#8221; Peng stated. &#8220;As more and more manufacturing of chips are coming out of China or rest of the world, we&#8217;ll try to have more diversified supply chain to further de-risk from geopolitical tensions.&#8221;
The company plans to strengthen its presence in markets outside the United States, particularly in South Korea, Singapore, and the Middle East.
See Also: <a href="https://www.benzinga.com/news/legal/24/11/42229617/microsofts-xbox-game-store-for-android-ready-to-go-live-says-executive-but-legal-standoff-with-google-halts-launch">Microsoft&#8217;s Xbox Game Store For Android &#8216;Ready To Go Live,&#8217; Says Executive, But Legal Standoff With Google Halts Launch</a>
Why It Matters: Despite <a href="https://www.benzinga.com/news/ipos/24/11/42228125/pony-ai-stock-falls-over-7-after-ipo-pricing-at-13-rebounds-nearly-3-in-after-hours">opening at the IPO price of $13</a>, Pony AI shares closed their first trading day at $12.00, down 7.69%. The stock showed signs of recovery in after-hours trading, climbing 2.75% to $12.33.
Pony AI, which debuted on the Nasdaq amid U.S.-China tensions, globally competes with leaders like Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), Waymo part of Alphabet Inc. (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>), and General Motors Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>)-backed Cruise in the autonomous driving space. 
Tesla is advancing its robotaxi ambitions with its FSD fleet, while Waymo operates commercial services in Phoenix and San Francisco, with plans for Los Angeles. Cruise is scaling urban operations, and players like Amazon.com Inc.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) Zoox and Aurora Innovation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AUR#NASDAQ">AUR</a>) target niche solutions.
With over 250 robotaxis and 190 robotrucks in China, Pony AI seeks to reduce reliance on single markets, focusing on South Korea, Singapore, and the Middle East to diversify and counter geopolitical risks.
Goldman Sachs, Merrill Lynch, and Deutsche Bank are serving as lead underwriters for the IPO, which is <a href="https://www.benzinga.com/news/ipos/24/11/42228125/pony-ai-stock-falls-over-7-after-ipo-pricing-at-13-rebounds-nearly-3-in-after-hours">scheduled to close on Friday</a>.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/24/11/42229424/century-therapeutics-stages-highest-single-day-move-in-11-months-as-casdin-capital-bumps-its-stake-to-54">Century Therapeutics Stages Highest Single Day Move In 11 Months As Casdin Capital Bumps Its Stake To 5.4%</a></li>
</ul>
Photo courtesy: Shutterstock
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Equities

AMZN

GOOG

GOOGL

PONY

China's Robotaxi Firm Pony AI Looks To Diversify Supply Chain After Nasdaq Debut, Growing Competition With Tesla, Waymo, And Amazon

Amid rising fears of a new trade war between the U.S. and China, China&#8217;s state media have praised several American companies for their strong partnerships with Chinese counterparts. This development comes as tensions reminiscent of&nbsp;Donald Trump&#8217;s&nbsp;return to presidency resurface.
What Happened: China&#8217;s state-owned Global Times has commended companies such as Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), Starbucks Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NASDAQ">SBUX</a>), and HP Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HPQ#NYSE">HPQ</a>) for their collaborative efforts with Chinese partners, according to a Reuters report on Thursday. The publication urged U.S. politicians to consider the willingness of American businesses to engage in economic cooperation by formulating appropriate policies.
In addition, the&nbsp;China Daily&nbsp;highlighted&nbsp;Morgan Stanley&nbsp;for obtaining regulatory approval to expand its operations in China, underscoring the interest of foreign financial firms in the Chinese market. This praise coincides with Trump&#8217;s announcement of&nbsp;a <a href="https://www.benzinga.com/government/regulations/24/11/42213610/hasbro-best-buy-brace-as-trumps-tariffs-loom-could-retail-margins-hit-rock-bottom">10% tariff on Chinese&nbsp;goods, </a>aimed at addressing the opioid crisis in the U.S.
See Also:&nbsp;<a href="https://www.benzinga.com/24/11/42219544/trump-names-china-hawk-jamieson-greer-as-pick-for-trade-representative?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Names China Hawk Jamieson Greer As Pick For Trade Representative</a>
During Trump&#8217;s first term, Chinese media coverage was closely monitored by corporate executives for indications of U.S. firms&#8217; standing. Despite threats of an &#8220;Unreliable Entity List,&#8221; China has not fully implemented it, focusing instead on companies involved in arms sales to Taiwan.
Why It Matters: The recent commendation of U.S. firms by Chinese state media comes in the context of ongoing diplomatic efforts to prevent a trade war. On Nov. 13,&nbsp;<a href="https://www.benzinga.com/startups/24/11/41944793/china-pushes-for-win-win-as-u-s-tariff-threat-looms-what-it-means-for-global-markets">China&#8217;s Ministry of Commerce</a>&nbsp;expressed a desire for &#8220;win-win cooperation&#8221; with the U.S., even as the Trump administration considered imposing tariffs as high as 60% on Chinese imports.
Recently,&nbsp;Tim Cook, CEO of&nbsp;Apple, attended the&nbsp;<a href="https://www.benzinga.com/news/24/11/42182417/tim-cook-joins-us-executives-to-attend-china-expo-as-donald-trump-threatens-extra-tariffs-on-sino-goods">China International Supply Chain Expo</a>&nbsp;on Nov. 26. Cook&#8217;s visit, along with other American business leaders, underscores the significance of the Chinese market for U.S. companies amid potential trade tensions.
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/government/regulations/24/11/42144915/china-unveils-global-ai-governance-committee-with-alibaba-cloud-founder-at-the-helm?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">China Unveils Global AI Governance Committee With Alibaba Cloud Founder At The Helm</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 Wikimedia Commons

Global

AAPL

SBUX

China's State Media Commends Apple, Tesla, Starbucks For Collaboration Amid Renewed Trade War Tensions

Major U.S. indices declined to close lower on Wednesday as the markets headed into the Thanksgiving holiday. Banks, post offices, shipping services, stock markets and all the other over-the-counter markets like bond markets will be closed on Thursday.
What Happened: Despite the holiday, Dow Jones futures will continue trading over the day. Stock exchanges worldwide including Shanghai, Hong Kong, Tokyo, Mumbai, and London would continue to operate. Also, U.S. stock exchanges will re-open on Friday to close early by 1:00 p.m. ET. 
Additionally, Walmart, Target and Costco stores will be closed because of the festive celebrations.
Thanksgiving week tends to be historically bullish. However, the S&amp;P 500 Index has gained 0.98% in the last five days, but the Nasdaq 100 Index has slipped by 0.15% in the same period. Russell 2000 Index and NYSE Composite Index on the other hand rose by 4.06% and 2.33% respectively in the last five sessions.
Also read: <a href="https://www.benzinga.com/personal-finance/24/11/41869557/can-you-guess-how-much-the-average-retiree-spends-per-month-hint-its-likely-more-than-youd-think" target="_blank" rel="noreferrer noopener">Can You Guess How Much the Average Retiree Spends Per Month? Hint: It's Likely More Than You'd Think!</a>
Are Banks Open?
Major financial institutions including Wells Fargo, Bank of America, JPMorgan Chase, and TD Bank will close their branches for the festival.
Federal Reserve banks will also shut operations for the holiday. Customers should verify specific branch hours through their bank's website or mobile app.
Significance Of The Holiday
Thanksgiving Day is an annual national holiday in the United States and Canada commemorating the harvest and the blessings from the past year.
<ul>
<li>Read next: <a href="https://www.benzinga.com/general/market-summary/24/11/42206673/trumps-running-mate-vice-president-pick-and-venture-capitalist-jd-vance-holds-etfs-bitcoin-and-more-here-is-a-look-at-his-portfolio">JD Vance&#8217;s Investment Playbook Has Bitcoin And ETFs: Here&#8217;s What Else The VP-Elect Is Betting On</a></li>
</ul>
Image Via Shutterstock

Is Stock Market Open Today? A Quick Guide To Markets, Banking Hours And What's Closed On Thanksgiving Day 2024

Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) has developed its Xbox game store for Android but remains unable to launch the service due to ongoing legal complications, the company revealed Wednesday.
What Happened: Xbox executive Sarah Bond explained that while the game store functionality is complete, a recent court order preventing changes to Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) subsidiary Google&#8217;s Play Store has halted its implementation.
In a Bluesky <a href="https://bsky.app/profile/bondsarahbond.bsky.social/post/3lbxhvggma32k">post</a>, Bond noted the store is &#8220;ready to go live&#8221; but awaits a final court decision.
The delay stems from a temporary administrative stay granted by Judge James Donato in a case challenging Google&#8217;s app store monopoly. Google maintains that Microsoft has always been able to offer game purchases through its Android app but has chosen not to do so.
See Also: <a href="https://www.benzinga.com/trading-ideas/movers/24/11/42228849/dogs-cats-and-frogs-cryptos-wildest-winners-in-2024-the-unexpected-tokens-turning-pocket-change-into-fortunes">Dogs, Cats, And Frogs — Crypto&#8217;s Wildest Winners In 2024: The Unexpected Tokens Turning Pocket Change Into Fortunes</a>
The standoff highlights ongoing tensions in the mobile app ecosystem, with Microsoft seeking more flexibility in-app distribution. The company&#8217;s Xbox App already offers cloud gaming features, but direct game purchases remain blocked.
Google spokesperson Dan Jackson argued that the court order and rushed implementation could compromise the Play Store&#8217;s security infrastructure, according <a href="https://www.theverge.com/2024/11/27/24307867/microsoft-google-xbox-game-store-android-purchase-games">to</a> The Verge report. Microsoft has not specified exact barriers preventing the store&#8217;s launch beyond the legal constraints.
Microsoft and Google did not immediately respond to <a href="https://pro.benzinga.com/dashboard">Benzinga&#8217;s</a> request for a statement.
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: This development comes amid broader regulatory scrutiny of big technology companies. The U.S. Federal Trade Commission is reportedly <a href="https://www.benzinga.com/news/legal/24/11/42229225/microsoft-faces-federal-investigation-into-cloud-and-ai-practices-amid-antitrust-scrutiny-report">investigating Microsoft&#8217;s market practices</a> in cloud computing and artificial intelligence, signaling increased regulatory attention on tech giants&#8217; competitive strategies.
Google&#8217;s legal battle centers around Epic Games&#8216; allegations of monopolistic practices in its Android Play Store, where the tech giant charges a 30% commission on in-app purchases. Epic Games, the maker of Fortnite, initiated the lawsuit after its app was removed from the <a href="https://www.benzinga.com/news/24/10/41414905/google-gets-temporary-relief-in-epic-games-lawsuit-play-store-to-remain-closed-to-competitors-for-no">Play Store in 2020 for bypassing Google's payment system</a>. 
Epic claimed that the commission stifles competition and inflates costs for developers and consumers. A jury ruled last year that Google had illegally monopolized app distribution and payment systems on Android, prompting a court order for significant changes to the Play Store&#8217;s structure.
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/24/11/42229130/elon-musks-x-objects-to-sale-of-conspiracy-theorist-alex-joness-infowars-accounts-to-the-onion-claims-ownership-over-joness-social-media">Elon Musk&#8217;s X Objects To Sale Of Infowars Accounts To The Onion, Claims Ownership Over Alex Jones&#8217;s Social Media</a></li>
</ul>
Photo courtesy: Shutterstock 
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Gaming

MSFT

Microsoft's Xbox Game Store For Android 'Ready To Go Live,' Says Executive, But Legal Standoff With Google Halts Launch

Joe Rogan has become one of the world's most successful podcasters in recent years, with influential figures like tech mogul Elon Musk, boxing legend Mike Tyson, renowned whistleblower Edward Snowden, and President-elect Donald Trump appearing on his &#8220;The Joe Rogan Experience&#8221; show.&nbsp;
But aside from a plethora of topics he enjoys discussing, Rogan has also exhibited significant interest in Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), the world's largest cryptocurrency, and even holds some in his portfolio.&nbsp;
What happened: Way back in April 2024, Rogan publicly shared details of his Bitcoin address.&nbsp;
Looking up the address on <a href="https://mempool.space/address/13hc7PPVya2afSweLWKLSPZVtUnavW5sSK">mempool</a>—a site that tracks Bitcoin transactions and block movements 24&#215;7—revealed a balance of 5.243 BTCs, translating to $502,011 at current market prices.&nbsp;
The fascinating bit was that Rogan hasn&#8217;t spent any Bitcoin in over a decade. Exactly 10 years ago, the value of his stash was $1,645, reflecting a mammoth 30417.4% upside.
Analysis of the balance history revealed a gradual increase in holdings beginning in late April, around the time he went public with his address.
By December of the same year, the balance had risen to 5, after which it began to plateau. Since then, it stabilized around the 5.24 level.&nbsp;
See Also: <a href="https://www.benzinga.com/trading-ideas/movers/24/11/42228464/ethereum-rally-gets-overshadowed-by-searing-gains-in-cheaper-plays-why-are-ens-and-etc-soaring-today">Ethereum Rally Gets Overshadowed By Searing Gains In Cheaper Plays: Why Are ENS And ETC Soaring Today?</a>
While HODLing for such long periods could imply Rogan's conviction on Bitcoin's potential, other observers had different explanations.&nbsp;
Bitcoin technologist Jameson Lopp said in a February X post, "How much you wanna bet he lost the key?"
<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">Joe&#39;s got 5 coins sitting in an address that was never spent from after a decade. How much you wanna bet he lost the key?<a href="https://t.co/JdilMGpTFI">https://t.co/JdilMGpTFI</a> <a href="https://t.co/nMux3XpAGq">pic.twitter.com/nMux3XpAGq</a>
&mdash; Jameson Lopp (@lopp) <a href="https://twitter.com/lopp/status/1754860506656252150?ref_src=twsrc%5Etfw">February 6, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Another user, Daniel Brr, urged Rogan to hand over the Bitcoins to charity if the amount isn't too significant for him.
"Seems like he just forgot people gave him BTC at that address and doesn&#8217;t care either way, so I think it would be better to give it to charity than eventually losing track of it," Brr added.
<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">Joe, if you&#39;re going to let 5 bitcoin sit in the this wallet forever and don&#39;t really care, because $200,000 is basically an uninteresting amount of pocket change to you, I think you should give it to charity (assuming you still have the keys). <a href="https://t.co/MQ6lwXE0GF">https://t.co/MQ6lwXE0GF</a>
&mdash; Daniel Ƀrrr (@csuwildcat) <a href="https://twitter.com/csuwildcat/status/1754862188345369039?ref_src=twsrc%5Etfw">February 6, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Why It Matters: While Rogan may be unmindful of his Bitcoin stash, his faith in the apex cryptocurrency hasn't shaken.&nbsp;&nbsp;
In an episode of The Joe Rogan Experience podcast with OpenAI co-founder Sam Altman, Rogan <a href="https://www.benzinga.com/markets/cryptocurrency/23/10/35139978/joe-rogan-tells-sam-altman-that-bitcoin-can-become-a-universal-viable-currency-admits-cbdc">called Bitcoin the "real fascinating cryptocurrency</a>" and one with the most likelihood of becoming a "universal viable currency."
Rogan <a href="https://www.benzinga.com/markets/cryptocurrency/23/09/34821113/if-you-had-invested-100-in-bitcoin-when-joe-rogan-first-mentioned-it-on-his-podcast-10-yea">first mentioned Bitcoin</a> on his podcast more than 10 years ago, in 2013. At that time, the digital asset traded at $123. The rest, as they say, is history.
Price Action: At the time of writing, Bitcoin was trading at $95,524.55, up 2.77% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>.&nbsp;
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/24/11/42228264/crypto-analyst-flags-convertible-debt-induced-liquidation-risk-to-michael-saylors-microstrategy">Crypto Analyst Flags Convertible Debt-Induced Liquidation Risk To Michael Saylor&#8217;s MicroStrategy</a></li>
</ul>

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

Cryptocurrency

$BTC

Joe Rogan's Bitcoin Pile Has Grown Over 30000% In Value, But He Hasn't Sold: Conviction-Based HODLing Or Has The Podcast King Lost His Keys?

Shares of Century Therapeutics Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IPSC#NASDAQ">IPSC</a>) zoomed by 20.74% to $1.63 per share on Wednesday, which is the highest price move in nearly a month since Oct. 1. The shares also rose the most in over 11 months since Dec. 6, 2023, in a single day.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="251" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/28011655/century-chart-1024x251.png" alt="" class="wp-image-668715" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/28011655/century-chart-1024x251.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/28011655/century-chart-300x74.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/28011655/century-chart-768x188.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/28011655/century-chart-1536x376.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/28011655/century-chart.png 1738w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Also read: <a href="https://www.benzinga.com/general/market-summary/24/11/42212364/trumps-tariff-threat-to-canada-may-disrupt-oil-markets-inflate-prices-would-likely-raise-the-price-of-fuels-says-analyst">Trump&#8217;s Tariff Threat To Canada May Disrupt Oil Markets, Inflate Prices: &#8216;Would Likely Raise The Price Of Fuels,&#8217; Says Analyst</a>
What Happened: On Wednesday, Casdin Capital acquired an additional 1,380,000 shares in Century Therapeutics raising its stake by nearly 43% in the biotechnology company, as per an SEC filing.
After the transaction, Casdin Capital owns a total of 4,592,316 shares, or 5.4% in Century Therapeutics. According to the filing, Century shares were acquired for $1.35 apiece. Century Therapeutics represents 0.12% of Casdin&#8217;s portfolio after the transaction.
Why It Matters: Century shares jumped by nearly 21%, the most in a single day since Dec. 6, 2023, when it had jumped by 36% after the transaction.
Casdin Capital, LLC, a New York-based investment firm, specializes in biotechnology investments. With a $1.5 billion equity portfolio, its top holdings include BioLife Solutions Inc (BLFS) and Sarepta Therapeutics Inc (SRPT).
Image via Unsplash
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/11/42186167/michael-saylors-microstrategy-convertible-notes-to-buy-bitcoin-offer-no-interest-so-why-are-investors-rushing-to-buy-them" target="_blank" rel="noreferrer noopener">Michael Saylor's MicroStrategy Convertible Notes To Buy Bitcoin Offer No Interest, So Why Are Investors Rushing To Buy Them?</a></li>
</ul>

IPSC

Century Therapeutics Stages Highest Single Day Move In 11 Months As Casdin Capital Bumps Its Stake To 5.4%

In a tragic incident early Wednesday, a&nbsp;Tesla Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) Cybertruck crashed in Piedmont, California, resulting in three fatalities and one serious injury. The vehicle reportedly ignited after the crash, prompting a rapid response from local authorities.
What Happened: The accident occurred around 3:10 a.m. as the occupants were returning from an event, <a href="https://apnews.com/article/tesla-cybertruck-piedmont-california-5d5b82dfffe7db70a2b1c3d4863e3d69">reported</a> the Associated Press,
Piedmont Police Chief&nbsp;Jeremy Bowers&nbsp;suggested that excessive speed might have been&nbsp;a factor in the single-vehicle&nbsp;crash. A fellow attendee, traveling separately, managed to rescue the surviving victim from the burning vehicle.
The identities of the victims have not been disclosed to protect family privacy. Despite police officers&#8217; extinguishers being ineffective, the fire department managed to extinguish the blaze quickly.
Piedmont Fire Chief Dave Brannigan noted that the rapid extinguishing indicated the Cybertruck&#8217;s lithium-ion battery likely did not catch fire, describing it as a typical car fire.
Tesla did not immediately respond to <a href="http://pro.benzinga.com">Benzinga&#8217;s</a> request for comment. 
See Also:&nbsp;<a href="https://www.benzinga.com/markets/24/11/42207185/tesla-sweetens-referral-program-allowing-customers-to-earn-up-to-10000-as-elon-musks-ev-giant-races-to-500k-q4-delivery-target">Tesla Sweetens Referral Program, Allowing Customers To Earn Up To $10,000 As Elon Musk&#8217;s EV Giant Races To 500K Q4 Delivery Target</a>
Despite <a href="https://www.benzinga.com/tech/24/11/41934708/tesla-recalls-over-2400-cybertrucks-in-us">recent recalls of the Cybertruck</a>, Chief Bowers stated there was no evidence of mechanical failure causing the accident. The Cybertruck&nbsp;has been recalled six times&nbsp;over the past year for various safety issues, including a recent recall on November 5 due to an electric inverter fault.
Why It Matters: This incident is the latest in a series of accidents involving Tesla vehicles.
In March,&nbsp;<a href="https://www.benzinga.com/news/24/03/37473383/tesla-ceo-elon-musks-pins-cybertruck-accident-at-iconic-beverly-hills-hotel-to-the-steel-behemoths-s">a Cybertruck crashed</a>&nbsp;into the entrance of The Beverly Hills Hotel, with&nbsp;CEO Elon Musk&nbsp;attributing the accident to the vehicle&#8217;s sports car-like agility.
In July, a&nbsp;<a href="https://www.benzinga.com/news/24/07/39685198/severely-damaged-tesla-cybertruck-involved-in-collision-turns-up-for-auction">severely damaged Cybertruck</a>&nbsp;was put up for auction after a high-velocity collision.
Additionally,&nbsp;<a href="https://www.benzinga.com/news/24/10/41320744/tesla-crash-kills-4-after-ev-erupts-in-flames">another fatal crash</a>&nbsp;in France involved a Tesla vehicle that caught fire, resulting in four deaths.
The National Highway Traffic Safety Administration (NHTSA)&nbsp;<a href="https://www.benzinga.com/news/24/10/41398764/nhtsa-opens-probe-into-2-4m-tesla-vehicles-after-reports-of-4-crashes-with-fsd-involved">has opened an investigation</a>&nbsp;into nearly 2.4 million Tesla vehicles following reports of crashes involving the full self-driving system.
Price Action: Tesla stock closed at $332.89 on Wednesday, down 1.6% for the day. In after-hours trading, the stock increased slightly by 0.5%. Year to date, Tesla's stock has gained 34%, according to&nbsp;<a href="https://pro.benzinga.com/dashboard" target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>.
Check out more of Benzinga'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/24/11/42208569/spacexs-starlink-direct-to-cell-service-gets-commercial-license-from-fcc-heres-what-it-means">SpaceX&#8217;s Starlink Direct-To-Cell Service Gets Commercial License From FCC: Here&#8217;s What It Means</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Tesla Cybertruck Crash In California Claims 3 Lives, Leaves 1 Seriously Injured

Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) is confronting a federal investigation that could reshape the technology industry&#8217;s competitive landscape, with regulators examining the company&#8217;s potentially anticompetitive practices in cloud computing and <a href="https://www.benzinga.com/24/11/41986592/microsoft-cloud-is-reportedly-ftc-lina-khans-next-target-investigation-centered-around-alleged-anticompetitive-behavior">artificial intelligence markets</a>.
What Happened: The U.S. Federal Trade Commission has initiated a broad investigative effort focusing on Microsoft&#8217;s licensing strategies and market conduct, particularly within its Azure cloud service ecosystem. Reuters report, which cited sources, reveals that the probe extends beyond traditional technological assessments, delving into intricate questions about market power and consumer choice.
The probe, approved by FTC Chair Lina Khan <a href="https://www.benzinga.com/24/11/41986592/microsoft-cloud-is-reportedly-ftc-lina-khans-next-target-investigation-centered-around-alleged-anticompetitive-behavior">before her anticipated departure</a>, centers on allegations that Microsoft is exploiting its market power to restrict customer mobility between cloud platforms.
Tech industry observers note the investigation represents a significant moment for Microsoft, traditionally viewed as more collaborative compared to other Big Tech entities. 
Microsoft did not immediately respond to <a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga</a>'s request for comment.
The investigation emerges against a backdrop of intensifying regulatory <a href="https://www.benzinga.com/tech/24/11/42086154/apple-to-argue-for-dismissal-of-doj-antitrust-case-over-alleged-us-smartphone-market-domination">scrutiny of Big Tech companies</a>. While firms like Meta Platforms (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), and Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) have faced similar antitrust challenges, Microsoft has traditionally navigated these waters with greater apparent ease.
See Also: <a href="https://www.benzinga.com/24/11/42228090/bitcoin-ethereum-dogecoin-surge-as-traders-raise-risk-appetite-ahead-of-thanksgiving-analyst-says-eth-could-jump-to-highs-not-seen-since-late-2021">Bitcoin, Ethereum, Dogecoin Surge As Traders Raise Risk Appetite Ahead Of Thanksgiving: Analyst Sets Mid-Term Price Target For ETH At $6K</a>
What Happened: Regulatory challenges are emerging across multiple technological fronts, with NetChoice and other industry groups highlighting potential barriers that might prevent customers from seamlessly transitioning between cloud platforms. 
The timing of the probe adds complexity, occurring during a <a href="https://www.benzinga.com/news/24/11/41948486/biden-pledges-smooth-transition-to-trump-in-white-house-meeting">potential presidential transition</a> that could dramatically alter enforcement priorities. 
Price Action: Microsoft stock closed at $422.99 on Wednesday, down 1.17% for the day. In after-hours trading, the stock dipped further 0.24%. Year-to-date, Microsoft has gained 14.05%, according to <a href="https://www.benzinga.com/pro/" target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/24/11/42227958/mark-zuckerberg-and-trump-reportedly-met-at-mar-a-lago">Mark Zuckerberg And Trump Reportedly Met At Mar-A-Lago</a></li>
</ul>
Image Via Shutterstock 
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Legal

Lina Khan-Headed FTC Approves Probe Into Microsoft's Cloud And AI Practices Amid Antitrust Scrutiny: Report

Elon Musk's X, formerly Twitter, has filed an objection to the pending bankruptcy sale of Alex Jones&#8217;s Infowars accounts to the satirical news outlet The Onion.
What Happened: The objection was submitted on Monday as part of Jones's bankruptcy proceedings, over his false claims regarding the Sandy Hook Elementary School shooting.
His assets, including Infowars, are being sold off in the wake of a defamation lawsuit filed by the families of Sandy Hook victims, which led to a $1.5 billion verdict against him.
Musk's platform argued that its terms of service prevent the sale or transfer of Jones's X accounts without the company&#8217;s approval.
See Also: <a href="https://www.benzinga.com/24/11/42156013/bluesky-adds-millions-of-users-as-elon-musks-social-media-platform-faces-exodus-post-trump-win-here-are-a-few-starter-packs-to-help-you-get-going-on-latest-x-rival?itm_source=parsely-api">Bluesky Adds Millions Of Users As Elon Musk&#8217;s X Faces Exodus Post Trump Victory: Here Are A Few Starter Packs To Help You Level Up On The Platform</a>
While X does not oppose the sale of Infowars&#8217; content, it insists that it retains ownership of the accounts, which it says are not part of Jones&#8217;s assets in bankruptcy proceedings.&nbsp;
The bankruptcy judge is considering whether to approve the trustee&#8217;s selection of The Onion as the winning bidder for Infowars assets.
The Onion&#8217;s bid of $1.75 million in cash was chosen over First United American Companies (FUAC)&#8217;s $3.5 million offer, as it benefits Jones&#8217;s other creditors more.&nbsp;
FUAC has objected, alleging improper collusion. A hearing is set for next month to address the sale.
This development was first <a href="https://thehill.com/regulation/court-battles/5012284-elon-musk-x-alex-jones-infowars-sale-the-onion/">reported</a> by The Hill.
Subscribe to the <a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a> to get all the latest tech developments delivered to your inbox.
Why It Matters: The objection from X comes amid a series of challenges for the platform. Earlier this month, it was reported that <a href="https://www.benzinga.com/news/24/11/41698648/elon-musks-x-reportedly-hit-with-new-wave-of-layoffs-engineering-department-faces-major-cuts-amid-un">X faced another wave of layoffs</a>, particularly impacting its engineering department.
<a href="https://www.benzinga.com/24/11/41872302/taylor-swift-fans-abandon-elon-musks-x-for-bluesky-how-trumps-election-victory-triggered-swifties-uprising">X has seen a shift in its user base</a>, with Taylor Swift fans reportedly migrating to Bluesky following Musk&#8217;s support for President-elect Donald Trump.
Despite these challenges, <a href="https://www.benzinga.com/general/social-media/24/11/42022443/ibm-disney-and-other-large-advertisers-return-to-elon-musks-x-after-a-year-long-boycott-we-super-appreciate">major advertisers</a> like IBM and Disney have returned to X after a year-long boycott, signaling a potential recovery in brand trust.
Check out more of Benzinga's Consumer Tech coverage by <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/trading-ideas/movers/24/11/42169194/joby-gets-toyotas-500m-dollar-lift-evtol-pioneer-making-new-highs?itm_source=parsely-api">Joby Gets Toyota&#8217;s $500M Dollar Lift: eVTOL Pioneer Making New Highs</a></li>
</ul>
Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.

Social Media

Elon Musk's X Objects To Sale Of Infowars Accounts To The Onion, Claims Ownership Over Alex Jones's Social Media

Shares of Caballeta Bio Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CABA#NASDAQ">CABA</a>) rose by 24.38% to $3.01 apiece on Wednesday and advanced by 4.65% to $3.15 per share in after-hours trading, following an update on their Systemic Sclerosis drug trial.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="282" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/28004158/CANA-SHares-1024x282.png" alt="" class="wp-image-668671" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/28004158/CANA-SHares-1024x282.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/28004158/CANA-SHares-300x83.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/28004158/CANA-SHares-768x212.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/28004158/CANA-SHares-1536x423.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/28004158/CANA-SHares.png 1746w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Also read: <a href="https://www.benzinga.com/general/market-summary/24/11/42212364/trumps-tariff-threat-to-canada-may-disrupt-oil-markets-inflate-prices-would-likely-raise-the-price-of-fuels-says-analyst">Trump&#8217;s Tariff Threat To Canada May Disrupt Oil Markets, Inflate Prices: &#8216;Would Likely Raise The Price Of Fuels,&#8217; Says Analyst</a>
What Happened: The company anticipates meeting the U.S. Food and Drug Administration in 2025 to discuss potential registrational trial designs, as per a statement by DelveInsight Business Research.
The report highlighted that Caballeta showcased positive clinical safety and efficacy data presented at the American College of Rheumatology Convergence 2024. The Systemic Sclerosis drug trial is ongoing with 16 patients with 10 patients dosed as of Nov. 12, 2024.
Why It Matters: The shares rose over the $3 per share mark for the first time on Wednesday in the last two weeks since Nov. 15. Also, the shares rose the most over 24% in a single day for the first time in two years since Dec. 14, 2022.
Cabaletta Bio is dedicated to developing engineered T-cell therapies to offer lasting, potentially curative treatments for autoimmune diseases. Their CABA platform includes both chimeric antigen receptor T cells and their proprietary chimeric autoantibody receptor T cells, designed to target autoimmune conditions.
Image via Unsplash
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/11/42186167/michael-saylors-microstrategy-convertible-notes-to-buy-bitcoin-offer-no-interest-so-why-are-investors-rushing-to-buy-them">Michael Saylor's MicroStrategy Convertible Notes To Buy Bitcoin Offer No Interest, So Why Are Investors Rushing To Buy Them?</a></li>
</ul>

CABA

Caballeta Bio Shares Surge The Most In 23 Months In A Single Day As It Unveils Plan To Meet FDA By 2025 For Systemic Sclerosis Drug Trial

Tesla and SpaceX CEO Elon Musk has announced that his artificial intelligence startup, xAI, will start an AI-driven game studio.&nbsp;
What Happened: On Wednesday, Musk responded to a user on X, formerly Twitter, who shared concern that some modern game studios prioritize profit over player engagement and creativity.
In response, Musk made the announcement challenging the dominance of large, corporate-owned game studios by focusing on creativity and innovation, and "make games great again."
<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">Too many game studios that are owned by massive corporations. <a href="https://twitter.com/xai?ref_src=twsrc%5Etfw">@xAI</a> is going to start an AI game studio to make games great again! <a href="https://t.co/UR4nFODyfd">https://t.co/UR4nFODyfd</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1861801046949191686?ref_src=twsrc%5Etfw">November 27, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also:&nbsp;<a href="https://www.benzinga.com/startups/24/11/42217378/elon-musk-pushes-brain-implant-production-as-14-7-million-texas-facility-takes-shape">Elon Musk Pushes Brain Implant Production as $14.7 Million Texas Facility Takes Shape</a>
Musk has long expressed his love for video games, often sharing his thoughts on Twitter. His passion <a href="https://www.benzinga.com/markets/cryptocurrency/22/06/27881697/happy-birthday-elon-musk-52-facts-and-figures-about-tesla-and-spacex-ceo-on-his-52nd-birth">dates back to when, at 12</a>, he sold a game he developed for $500.
Over the years, <a href="https://www.benzinga.com/general/gaming/23/08/33610477/elon-musk-lover-of-video-games-has-praise-for-this-record-breaking-title-and-its-not-elden-ring">he's praised titles</a> like Elden Ring from Japanese studio FromSoftware and Diablo IV from Microsoft Corporation's (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) Blizzard.&nbsp;
According to his biography by Walter Isaacson, <a href="https://www.benzinga.com/general/23/10/35376565/elon-musks-intense-obsession-with-a-video-game-influenced-his-business-strategies-caused-fights-in-h">Musk was also a fan</a> of the strategy game Polytopia, where he once beat the game's creator, Felix Ekenstam. <a href="https://www.benzinga.com/general/gaming/24/07/39909430/cybertruck-hits-fortnite-rocket-league-elon-musks-vehicle-now-featured-in-games-backed-by-disney-r">Tesla's Cybertruck even debuted</a> in Fortnite and Rocket League, games from Epic Games and Psyonix, respectively.
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.
Several game studios are owned by large corporations: Activision Blizzard, now a subsidiary of Microsoft Gaming, has notable titles such as Call of Duty, World of Warcraft, Diablo, and Overwatch. The company was acquired by Microsoft in <a href="https://www.benzinga.com/government/24/05/38594937/microsofts-75b-acquisition-of-activision-cleared-of-insider-trading-concerns-by-sec">October 2023 for $75 billion</a>. In 2022, it <a href="https://companiesmarketcap.com/usd/activision-blizzard/revenue/#:~:text=According%20to%20Activision%20Blizzard's%20latest,were%20of%20%E2%82%B9655.29%20Billion.">reported</a> a revenue of $7.52 billion, a decline from $8.80 billion in 2021.
Another American video game company is Electronic Arts Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EA#NASDAQ">EA</a>), known for its sports and actions with notable titles such as FIFA, Madden NFL, and The Sims.
Last month, EA announced <a href="https://www.benzinga.com/news/earnings/24/10/41622538/electronic-arts-q2-earnings-eps-beat-solid-bookings-footballs-1-billion-run-in-sight-more">second-quarter net revenues</a> of $2.025 billion, slightly below the expected $2.037 billion. However, their earnings per share (EPS) of $1.11 surpassed the forecasted $0.88.
Take-Two Interactive (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TTWO#NASDAQ">TTWO</a>) has titles like Grand Theft Auto and NBA 2K under its belt. It also has several successful labels including Rockstar Games and 2K.&nbsp;
Earlier this month, TTWO <a href="https://www.benzinga.com/news/earnings/24/11/41818430/take-two-earnings-show-gta-6-on-track-for-2025-ceo-vows-no-huge-release-overlap">reported another solid quarter</a>, driven by record performances from its key titles and growth in subscription services. The company's net bookings reached $1.47 billion, a slight increase from the previous year, while net revenue rose by 4% to $1.35 billion.
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/startups/24/11/42196530/too-many-mbas-running-companies-elon-musk-once-claimed-encouraging-more-time-on-creating-amazing-products">&#8216;Too Many MBAs Running Companies,&#8217; Elon Musk Once Claimed, Encouraging More Time On Creating &#8216;Amazing&#8217; Products</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

TTWO

Elon Musk's xAI Plans To 'Make Games Great Again' With AI-Driven Game Studio — Can His Vision Reshape A Gaming Industry Dominated By Large Corporations?

The cryptocurrency market embarked on a bullish run in 2024, with several coins netting exponential returns to their holders.
Meme coins, influenced by adorable characters and animals, have been at the forefront of this rally, with many of them soaring over 1000% since the beginning of the year.
What happened: Cat-themed cryptocurrency Popcat has been the best-performing cryptocurrency in 2024, exploding an eye-popping 16151% year-to-date.&nbsp;
The Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)-based token entered the $1 billion club riding on the rally, the only feline-themed digital asset to hit such a milestone.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>YTD Gains +/-</td>
<td>Price (Recorded at 9:55 p.m. EDT)</td>
</tr>
<tr>
<td>Popcat (POP)</td>
<td>+16151.67%</td>
<td>$1.32</td>
</tr>
<tr>
<td>Peanut the Squirrel (CRYPTO: PNUT)</td>
<td>+2067.11%</td>
<td>$1.14</td>
</tr>
<tr>
<td>dogwifhat (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">WIF</a>)</td>
<td>+1960.32%</td>
<td>$3.15</td>
</tr>
<tr>
<td>Pepe (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">PEPE</a>)</td>
<td>+1314.79%</td>
<td>$0.00001962</td>
</tr>
</tbody>
</table>
</figure>
Next on the list was Peanut the Squirrel, a meme coin inspired by the late animal of the same name, which has exploded to a $1 billion capitalization in less than a month from its launch.
PNUT has surged over 2000%, becoming one of the fastest entrants to the $1 billion club. It has benefitted from the strong sentiment following the death of "Peanut,&#8221; a viral pet squirrel, who was <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41705004/peanut-the-squirrel-themed-meme-coins-surge-amid-social-media-outrage-over-celebrity-anima">confiscated and euthanized</a> by authorities.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42155055/crypto-analyst-bitcoin-poised-to-skyrocket-to-180k-and-eventually-top-1m">Crypto Analyst: Bitcoin Poised To Skyrocket To $180K and &#8216;Eventually&#8217; Top $1M</a>
Another Solana-based cryptocurrency dogwifhat has surged 1960% year-to-date, leapfrogging into the top 5 meme coins by market capitalization list.
Meanwhile, Pepe swelled 1314% in 2024, becoming the most successful Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)-based meme coin of 2024.&nbsp;
Blue-chip currencies like Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) and Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>) have also multiplied returns this year, rising 360% and 149%, year-to-date.
The total meme coin market capitalization has expanded from $22.27 billion to $116.89 billion, a fivefold increase.
Photo by Igor Faun on Shutterstock
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42205579/jim-cramer-says-bitcoin-and-ethereum-deserve-a-spot-in-your-portfolio-as-hedge-against-rising-us-debt-ive-liked-crypto-for-a-very-long-time">Jim Cramer Says Bitcoin And Ethereum &#8216;Deserve A Spot In Your Portfolio&#8217; As Hedge Against Rising US Debt: &#8216;I&#8217;ve Liked Crypto For A Very Long Time&#8217;</a></li>
</ul>

Movers

Trading Ideas

$DOGE

$ETH

$PEPE

$SHIB

$SOL

$WIF

Dogs, Cats And Frogs — Crypto's Wildest Winners In 2024: The Unexpected Tokens Turning Pocket Change Into Fortunes

Prominent investment analyst Gary Black of The Future Fund LLC has sparked a market discussion with a recent analysis comparing Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) and NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), highlighting critical differences in their earnings trajectory and valuation metrics.
What Happened: In a post on X, Black explained why Nvidia remains the fund&#8217;s top position while Tesla ranks fifth, focusing on the divergent paths of earnings estimates for both companies. He pointed out that Wall Street continues to raise earnings estimates for Nvidia while simultaneously reducing estimates for Tesla.
The analysis centers on the price-to-earnings-growth ratio, a key metric for investors. Black noted that Nvidia currently trades at 1.6x PEG, with a calendar year 2025 price-to-earnings ratio of 32x and a projected long-term earnings growth of 20%. 
In contrast, Tesla stands at 3.2x PEG, with a calendar year 2025 price-to-earnings ratio of 102x and a projected long-term earnings growth of 32%.
The <a href="https://www.benzinga.com/money/understanding-peg-ratio">price-to-earnings-growth ratio</a> is a key valuation metric that helps investors understand a stock&#8217;s true value by comparing its price-to-earnings (P/E) ratio to its expected earnings growth rate.
A lower PEG ratio, typically below 1.0, suggests a stock may be undervalued, indicating the company&#8217;s stock price is relatively cheap compared to its potential future earnings growth.
<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">For those wondering why <a href="https://twitter.com/search?q=%24NVDA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$NVDA</a> is our #1 position and <a href="https://twitter.com/search?q=%24TSLA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TSLA</a> #5 &#8211; look no further than these two respective earnings revisions charts. WS keeps raising NVDA's earnings ests, and reducing TSLA's earnings estimates. On PEG, NVDA is at 1.6x PEG (CY'25 P/E = 32x vs 20% long-term eps… <a href="https://t.co/Wt1E4wUYEJ">pic.twitter.com/Wt1E4wUYEJ</a>
&mdash; Gary Black (@garyblack00) <a href="https://twitter.com/garyblack00/status/1861852866623033576?ref_src=twsrc%5Etfw">November 27, 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/24/11/42228090/bitcoin-ethereum-dogecoin-surge-as-traders-raise-risk-appetite-ahead-of-thanksgiving-analyst-says-eth-could-jump-to-highs-not-seen-since-late-2021">Bitcoin, Ethereum, Dogecoin Surge As Traders Raise Risk Appetite Ahead Of Thanksgiving: Analyst Sets Mid-Term Price Target For ETH At $6K</a>
Why It Matters: These metrics underscore the fund&#8217;s investment strategy, which Black has consistently defended as disciplined and data-driven. His recent posts have emphasized the importance of professional investment principles, particularly the strategy of <a href="https://www.benzinga.com/markets/equities/24/11/42156674/gary-black-defends-tesla-trim-at-351-no-one-ever-went-broke-by-taking-profits-amid-stocks-150-surge-since-april">buying low and selling high</a>.
The Future Fund&#8217;s performance demonstrates this approach, with the Future Fund Active ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FFND#NYSE">FFND</a>) delivering a 28.30% year-to-date return that outpaces the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>). Black&#8217;s <a href="https://www.benzinga.com/markets/equities/24/11/42156674/gary-black-defends-tesla-trim-at-351-no-one-ever-went-broke-by-taking-profits-amid-stocks-150-surge-since-april">Tesla position has been particularly noteworthy</a>, with the fund&#8217;s average purchase price at $162 and average selling price at $252.
The market performance further illustrates the point: while Tesla has seen a 34% year-to-date gain, Nvidia has surged 180.96%, according to&nbsp;<a href="https://www.benzinga.com/pro/" target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/24/11/42227834/cathie-wood-buys-amazon-amd-stock-trims-palantir-block-holdings-amid-ai-and-bitcoin-euphoria">Cathie Wood Buys Amazon, AMD Stock — Trims Palantir, Block Holdings Amid AI And Bitcoin Euphoria</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.

FFND

Nvidia Crushes Tesla In Stock Gains — Gary Black Explains Why The AI Chipmaker Occupies The No. 1 Position In Future Fund's Portfolio

Ethereum's (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) handsome rally on Wednesday infused life in its cheaper alternatives, causing them to outperform the marquee asset.
What happened: Ethereum Name Service soared over 45% to become the cryptocurrency market's biggest gainer in the last 24 hours.&nbsp;
The rally catapulted the token to price levels last seen in Jan. 2022, while its market capitalization hit $1 billion after nearly five months.&nbsp;
ENS saw a 520% jump in trading volumes, implying a sharp jump in buying pressure.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 9:55 p.m. EDT)</td>
</tr>
<tr>
<td>Ethereum Name Service (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">ENS</a>)</td>
<td>+45.14%</td>
<td>$32.89</td>
</tr>
<tr>
<td>Ethereum Classic (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/etc/usd">ETC</a>)</td>
<td>+12.21%</td>
<td>$31.89</td>
</tr>
</tbody>
</table>
</figure>
Ethereum Classic also racked up double-digit gains to hit a six-month high. Its trading volume more than doubled to $1.18 billion in the last 24 hours. 
The gains in these lesser-known coins follow<a href="https://www.benzinga.com/24/11/42228090/bitcoin-ethereum-dogecoin-surge-as-traders-raise-risk-appetite-ahead-of-thanksgiving-analyst-says-eth-could-jump-to-highs-not-seen-since-late-2021"> Ethereum's sharp upswing</a>, which caused the second-largest cryptocurrency to spike nearly 8%.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42155055/crypto-analyst-bitcoin-poised-to-skyrocket-to-180k-and-eventually-top-1m">Crypto Analyst: Bitcoin Poised To Skyrocket To $180K and &#8216;Eventually&#8217; Top $1M</a>
ENS and ETC are fundamentally different from Ethereum, but many retail investors see them as cheaper alternatives.&nbsp;
In the past too, positive news around Ethereum, such as the approval of <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39897831/why-are-ethereum-classic-and-ethereum-name-service-shooting-up-on-spot-eth-approval-day">spot exchange-traded funds (ETFs)</a>, resulted in steeper hikes for these cheaper plays.
Ethereum Classic was created as a hard fork of the original Ethereum chain back in 2016 over disagreements within the community following a hack. The new chain inherited the name Ethereum as we know it, while the original one functions as Ethereum Classic.
ENS, on the other hand, is a token associated with Ethereum Name Service, a decentralized naming system that converts complex, machine-readable names to ones easily understandable by humans.
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42205579/jim-cramer-says-bitcoin-and-ethereum-deserve-a-spot-in-your-portfolio-as-hedge-against-rising-us-debt-ive-liked-crypto-for-a-very-long-time">Jim Cramer Says Bitcoin And Ethereum &#8216;Deserve A Spot In Your Portfolio&#8217; As Hedge Against Rising US Debt: &#8216;I&#8217;ve Liked Crypto For A Very Long Time&#8217;</a></li>
</ul>

$ENS

$ETC

Ethereum Rally Gets Overshadowed By Searing Gains In Cheaper Plays: Why Are ENS And ETC Soaring Today?

Influential cryptocurrency analyst&nbsp;Willy Woo&nbsp;shared his perspective on the potential liquidation risk of&nbsp;MicroStrategy Incorporated&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>), a firm whose aggressive Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) acquisition strategy has sparked significant interest lately.
What Happened:&nbsp;On Wednesday, Woo took to X to state that the primary risk lies in the company&#8217;s convertible debt offerings.
He said that if the buyers of the convertible debt&nbsp;do not convert to shares&nbsp;before maturity, MicroStrategy would be forced to sell Bitcoin to repay the debt holders.
Woo argued that this scenario would occur if MicroStrategy&#8217;s stock didn&#8217;t increase by roughly 40% within the next 5-7 years.
<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">Thoughts on MSTR Liquidation Risk: The only liquidation risk I can see is via their convertible debt offerings: 1) If convertible debt buyers do not convert to shares before maturity, it forces MSTR to sell BTC to reimburse debt holders. 2) This would happen if MSTR doesn&#39;t… <a href="https://t.co/GFIOeAqQPL">pic.twitter.com/GFIOeAqQPL</a>
&mdash; Willy Woo (@woonomic) <a href="https://twitter.com/woonomic/status/1861810991614545980?ref_src=twsrc%5Etfw">November 27, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
The analyst also underlined several other risks of varying degrees. 
He argued that <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42179537/rumble-bets-on-bitcoin-with-new-treasury-strategy-ceo-calls-it-an-excellent-addition">other corporations replicating MicroStrategy&#8217;s playbook</a> could result in reducing its net asset value (NAV) premium—the ratio of the firm&#8217;s market value to its Bitcoin holdings value.
Furthermore, risks such as the SEC acting to limit future Bitcoin purchases and the U.S. government nationalizing and confiscating the asset were raised.
See Also:&nbsp;<a href="https://www.benzinga.com/24/11/42225289/heres-how-much-100-invested-in-xrp-token-today-will-be-worth-if-crypto-returns-to-all-time-highs">Here&#8217;s How Much $100 Invested In XRP Token Today Will Be Worth If Crypto Returns To All-Time Highs</a>
Why It Matters:&nbsp;For the curious, a convertible note is a hybrid instrument that can be exchanged for equity in the company at a later date. The conversion feature of these notes eventually<a href="https://www.benzinga.com/markets/equities/24/11/42186167/michael-saylors-microstrategy-convertible-notes-to-buy-bitcoin-offer-no-interest-so-why-are-investors-rushing-to-buy-them"> helps the debt holders</a> to participate in the equity upside on conversion.
The Michael Saylor-led firm has been issuing these bonds at 0% interest,&nbsp;using the proceeds to fund its future Bitcoin purchases. 
Woo&#8217;s comments followed renowned investment adviser <a href="https://www.benzinga.com/24/11/42156261/are-microstrategys-shares-worth-only-105-investment-adviser-gary-black-weighs-in">Gary Black&#8217;s aspersions </a>on the valuation of MicroStrategy. 
Black estimated that MicroStrategy's&nbsp;shares should be worth about&nbsp;$105/share, a figure 73% lower than its current trading price.
Price Action: Over the past month, MicroStrategy&#8217;s stock has surged 58.94%, outperforming even the famed "Magnificent 7" group of companies. The stock popped 9.94% to $388.84 during Wednesday&#8217;s regular session.
Image via Shutterstock
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/general/entertainment/24/11/42223923/trump-hhs-pick-robert-f-kennedy-jr-s-wealth-comes-from-family-law-practice-oil-bitcoin">Trump HHS Pick Robert F. Kennedy Jr.&#8217;s Wealth Comes From Family, Law Practice, Oil, Bitcoin</a></li>
</ul>

MSTR

Crypto Analyst Flags Convertible Debt-Induced Liquidation Risk To Michael Saylor's MicroStrategy

U.S. stock markets experienced a downturn on Wednesday, with the Nasdaq Composite dropping over 110 points to 19,070.48, a decline of 0.6% over the day. The Dow decreased by 0.3% to 44,722.06, while the S&amp;P 500 fell 0.4% to 5,998.74. 
These are the top stocks that gained the attention of retail traders and investors throughout the day.
Symbotic Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SYM#NASDAQ">SYM</a>)
Symbotic&#8217;s stock plunged 35.86% to close at $24. The stock hit an intraday high of $25.47 and a low of $21.78, with a 52-week range of $59.82 to $17.11. The sharp decline followed the company&#8217;s announcement of a <a href="https://www.benzinga.com/24/11/42213634/symbotic-stock-plummets-26-after-delayed-filing-and-revenue-errors">delay in filing its Annual Report</a> on Form 10-K. The delay was attributed to the need for more time to assess revenue recognition errors and address internal control weaknesses.
Unusual Machines, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UMAC#NYSE">UMAC</a>)
See Also:&nbsp;<a href="https://www.benzinga.com/markets/commodities/24/11/42164230/amid-trumps-drill-baby-drill-pledge-strategist-predicts-us-oil-supply-will-see-marginal-increase-does-the-world-need-that-much-oil?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Amid Trump&#8217;s &#8216;Drill Baby, Drill&#8217; Pledge, Strategist Predicts US Oil Supply Will See &#8216;Marginal&#8217; Increase:</a>
Unusual Machines saw its stock soar by 83.99% to $9.77, reaching an intraday high of $11.67 and a low of $7.19, with a 52-week high of $11.67 and a low of $0.98. The surge came after the company announced the <a href="https://www.benzinga.com/24/11/42215044/unusual-machines-appoints-donald-trump-jr-to-its-advisory-board-whats-going-on">appointment</a> of Donald Trump Jr. to its advisory board, a move aimed at bolstering its position in the drone industry.
VCI Global Ltd&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VCIG#NASDAQ">VCIG</a>)
VCI Global&#8217;s stock skyrocketed 125.27% to $4.10, with an intraday high of $7.74 and a low of $2.33, and a 52-week range of $179.83 to $1.38. The significant rise followed the announcement of a conditional $24 million <a href="https://www.benzinga.com/news/24/11/42218314/why-vci-global-vcig-stock-is-up-90-today">Letter of Award for a data center project</a> in Malaysia. The project, led by the subsidiary V-Gallant Sdn. Bhd., aims to position Malaysia as a top AI hub.
Pony AI Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PONY#NASDAQ">PONY</a>)
Pony AI&#8217;s shares fell 7.69% to $12, with an intraday high of $15.74 and a low of $11.95, matching its 52-week range. The decline came as the company announced the pricing of its <a href="https://www.benzinga.com/news/ipos/24/11/42228125/pony-ai-stock-falls-over-7-after-ipo-pricing-at-13-rebounds-nearly-3-in-after-hours">initial public offering</a> at $13 per ADS. The offering includes 20 million ADSs, with an option for underwriters to purchase an additional 3 million.
Tesla Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)
Tesla&#8217;s stock dipped 1.58% to close at $332.89, with an intraday high of $342.55 and a low of $326.59, and a 52-week range of $361.92 to $138.8. The decline came as the company <a href="https://www.benzinga.com/markets/24/11/42207185/tesla-sweetens-referral-program-allowing-customers-to-earn-up-to-10000-as-elon-musks-ev-giant-races-to-500k-q4-delivery-target">revamped its referral program</a> in North America, offering enhanced discounts and rewards as it aims to meet its fourth-quarter delivery target of 515,000 vehicles.
Prepare for the day&#8217;s trading&nbsp;<a href="https://editorial.benzinga.com/wp-admin/Premarket%20Movers%20&amp;%20News">with top premarket movers and news</a>&nbsp;by Benzinga.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/24/11/42206614/polygons-pol-token-outshines-bitcoin-ethereum-in-30-day-gains-top-analyst-anticipates-no-major-selling-pressure-in-days-ahead?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Crypto&#8217;s Next Mega-Rocket? Analyst Forecasts Insane 2725%-6600% Surge For This Coin</a></li>
</ul>
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

UMAC

VCIG

Symbotic, Unusual Machines, VCI Global, Pony AI, Tesla: Why These 5 Stocks Are On Investors' Radars Today

Pony AI Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PONY#NASDAQ">PONY</a>) debuted on the Nasdaq Global Select Market today, pricing its initial public offering at $13 per ADS. The offering of 20 million ADSs, along with a 30-day underwriters&#8217; option for 3 million additional ADSs, aims to raise $260 million in gross proceeds.
What Happened: The IPO includes concurrent private placements totaling $153.4 million from strategic investors, bringing the combined gross proceeds to $413.4 million. If underwriters exercise their full option, proceeds could reach $452.4 million.
Pony AI ADRs opened trading at $13 but closed 7.69% lower at $12.00. However, after-hours trading saw a 2.75% rebound to $12.33, according to <a href="https://www.benzinga.com/pro/">data from Benzinga Pro</a>. The offering is expected to close on Friday.
Goldman Sachs, Merrill Lynch, and Deutsche Bank are among the underwriters for the IPO. Pony AI specializes in autonomous driving solutions with operations spanning multiple continents.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/11/42227972/softbank-secures-bigger-openai-stake-with-1-5b-employee-share-buyout-report">SoftBank Secures Bigger OpenAI Stake With $1.5B Employee Share Buyout: Report</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.

Comments

Kanamoto Co

News

Latest news for Kanamoto Co (OTC:KNMOF) Stock

Popular Channels

Tools & Features

Partners & Contributors

About Benzinga