Latest news for Metal Sky Star Acq (NASDAQ:MSSAW) Stock

Metal Sky Star Acquisition Corp is a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses.

Metal Sky Star Acquisition Corporation - Warrant

Metal Sky Star Acquisition Corp

Berry plans to use proceeds from the transaction to pay down outstanding debt at Berry. Adjusted for both the cash distribution received in November 2024 on close of Berry's Health, Hygiene and Specialties Global Nonwovens and Films business ("HHNF") spin-off, and the net cash proceeds1 expected on the sale of Tapes, totaling $1.3 billion, Berry's pro forma net debt as of September 30, 2024 was approximately $5.9 billion (3.5x LTM net leverage).

News

BERY

Reported Earlier, Berry Global Sells Specialty Tapes Business To Nautic Partners For $540M

Justin Sun, the founder of the TRON (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/trx/usd">TRX</a>) blockchain, announced a $30 million investment in President-elect Donald Trump-backed cryptocurrency project&nbsp;World Liberty Financial&nbsp;(WLFI), lending support to the &#8220;Make America Great Again&#8221; movement.
What Happened: On Monday, Sun revealed on X that Tron became the largest investor in&nbsp;the decentralized finance (DeFi) project with the strategic expenditure. 
He said, &#8220;The U.S. is becoming the blockchain hub, and Bitcoin owes it to Donald Trump!  TRON is committed to making America great again and leading innovation. Let&#8217;s go!&#8221;
In response, the WLFI team said they were honored to have the support of Sun and the Tron ecosystem.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">We are thrilled to invest $30 million in World Liberty Financial <a href="https://twitter.com/worldlibertyfi?ref_src=twsrc%5Etfw">@worldlibertyfi</a> as its largest investor. The U.S. is becoming the blockchain hub, and Bitcoin owes it to <a href="https://twitter.com/realDonaldTrump?ref_src=twsrc%5Etfw">@realDonaldTrump</a>! TRON is committed to making America great again and leading innovation. Let&#39;s go! <a href="https://t.co/cISTsVYP1f">pic.twitter.com/cISTsVYP1f</a>
&mdash; H.E. Justin Sun &#x1f34c; (@justinsuntron) <a href="https://twitter.com/justinsuntron/status/1861121947372773545?ref_src=twsrc%5Etfw">November 25, 2024</a></blockquote>
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Sun&#8217;s $30 million investment catapulted total sales of the project&#8217;s governance token past $50 million, <a href="https://dune.com/fergmolina/world-liberty-financial" target="_blank" rel="noreferrer noopener">according&nbsp;</a>to a Dune Analytics dashboard, although still a long way away from the ambitious $300 million target.
The project had a slow start, managing to raise just 4% of its token presale target within the first 48 hours of its launch.
See Also:&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42180180/peter-schiff-warns-trumps-bitcoin-support-could-lead-to-economic-chaos-make-america-weaker-as-wall-street-misallocates-bigly">Peter Schiff Warns Trump&#8217;s Bitcoin Support Could Lead To Economic Chaos, Make America &#8216;Weaker&#8217; As Wall Street Misallocates &#8216;Bigly&#8217;</a>
Why It Matters: Promoted aggressively by Trump and his family,&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40905315/donald-trumps-new-crypto-project-world-liberty-financial-everything-you-need-to-know" target="_blank" rel="noreferrer noopener">the project</a>&nbsp;attracted significant attention right in the middle of the GOP nominee&#8217;s presidential campaign.
The WLFI token would serve as the platform&#8217;s governance token, enabling users to engage in borrowing, lending, and other DeFi activities. However, its non-transferable, non-yielding nature may have turned off speculative traders, adding to the lackluster presale.
According to the World Liberty Gold&nbsp;Paper, WLFI <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41395007/trump-affiliated-entity-will-get-75-of-world-liberty-financials-revenue-and-22-of-wlfi-tok">would allocate 75% of its protocol revenues</a> to a firm associated with the former President, DT Marks DEFI, LLC.
As for Sun, he remains one of the largest publicly known cryptocurrency investors, boasting a portfolio worth more than $1.8 billion, <a href="https://platform.arkhamintelligence.com/explorer/entity/justin-sun" target="_blank" rel="noreferrer noopener">data </a>from Arkham Intelligence revealed.
Photo Courtesy: Wikimedia Commons
Read Next:&nbsp;
<ul>
<li><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">Rumble Bets On Bitcoin With New Treasury Strategy, CEO Calls It An &#8216;Excellent Addition&#8217;</a></li>
</ul>

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

Cryptocurrency

$TRX

Crypto Billionaire Justin Sun Pledges $30M Investment In Trump-Backed World Liberty Financial: What's Happening?

Sell-side clients benefit from simplified integration and connectivity to LTX, reduced operational risk and implementation costs and improved time-to-marke

Broadridge's LTX Partners With TransFICC, Offering  Faster Access And Lower Costs For Fixed Income eTrading

The Company expects to receive aggregate gross proceeds of US$8.20 million from the Offering, before deducting underwriting discounts and other related expenses. In addition, the Company has granted the underwriters an option, exercisable within forty-five (45) days after the closing of the Offering, to purchase up to an additional 307,500 ADSs at the public offering price, less underwriting discounts. The Offering is expected to close on or about November 27, 2024, subject to the satisfaction of customary closing conditions.

IPOs

WYHG

Reported Earlier, Wing Yip Food Prices Its $8.2M Initial Public Offering Of 2.05M American Depositary Shares At $4/ADS

Guidance
In the Group's Annual Report 2023, Cadeler provided guidance for the financial year ending 31 December 2024 indicating that full-year revenue was expected to fall within the range of EUR 225 million to EUR 245 million, while full-year EBITDA was expected to be between EUR 105 million and EUR 125 million. Cadeler has today increased its revenue guidance for the financial year 2024, as it now expects full-year revenue to fall within the range of EUR 243 million to EUR 253 million, principally due to clients calling more options under the Group's existing contracts than was previously assumed, higher vessel utilisation as a result of the Group having secured contracts for the provision of operations and maintenance services between installation projects, and the receipt of termination fees in respect of a vessel reservation agreement. In addition, Cadeler has revised and narrowed its EBITDA guidance within the upper end of the range it has previously communicated, as it now expects full-year EBITDA to range between EUR 115 million and 125 million.

Guidance

CDLR

Cadeler Expects FY24 Revenue Of €243M-€253M (Prior €225M-€245M)

If finalized, the loan would support the construction of Rivian's next facility in Stanton Springs North, near the city of Social Circle, Georgia, substantially expanding the company's domestic production capacity to support demand from the United States and international markets. This loan from DOE would provide significant funding for production of the company's midsize platform, which underpins the R2, a midsize SUV, and the R3/R3X, a midsize crossover. Designed, engineered, and built in America to deliver an incredible combination of capability, function, performance, and pricing, Rivian believes its R2 and R3 vehicle lines will be critical drivers in the company's long-term growth and profitability.

RIVN

Reported Earlier, Rivian Secures Conditional $6.6B DOE Loan Commitment To Expand Electric Vehicle Manufacturing And Development In US

Earnings

Cadeler Reported Q3 Revenue Of €81M Vs €23M YoY

Financial analyst Jim Cramer&#8216;s recent recommendation to &#8220;own&#8221; Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) stocks has triggered a widespread investor revolt, with social media users loudly proclaiming their intent to do the opposite.
What Happened: CNBC&#8217;s &#8220;Mad Money&#8221; host Cramer&#8217;s Monday statement on X, &#8220;Apple, own it, don&#8217;t trade it!&#8221; quickly became a catalyst for what traders call the &#8216;Inverse Cramer&#8217; phenomenon—a strategy where investors systematically bet against his stock recommendations.
Online commentary ranged from satirical to scathing. One user, Tommy Famous, criticized Cramer as a &#8220;financial QVC&#8221; who has &#8220;led audiences into losses,&#8221; suggesting his recommendations are more entertainment than serious financial advice.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Jim Cramer, you've officially cemented yourself as the ultimate inverse indicator. Every word you utter is like a green light for the opposite trade. ‘Apple, own it, don't trade it'? Nah, that translates to SELL IT IMMEDIATELY and SHORT IT TO THE GROUND. You're not a market…
&mdash; Tommy Famous (@TommyBeFamous) <a href="https://twitter.com/TommyBeFamous/status/1861055066964123941?ref_src=twsrc%5Etfw">November 25, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/news/global/24/11/42179729/as-nvidia-maintains-chip-supremacy-jim-cramer-says-the-so-called-enemies-of-semiconductor-giant-arent-really-enemies">As Nvidia Maintains Chip Supremacy, Jim Cramer Says Foes Of Semiconductor Giant &#8216;Aren&#8217;t Really Enemies&#8217;</a>
Notable social media reactions included Thomas Peters <a href="https://x.com/thomasopeters/status/1861106660028358992">describing</a> it as &#8220;a great run&#8221; but ultimately follows the Inverse Cramer strategy. Another user <a href="https://x.com/Kyl0Z3n/status/1861062070470332662">humorously</a> suggested it&#8217;s time to sell Apple shares. Some users even pledged to <a href="https://x.com/thecryptomars/status/1861055235235422225">switch</a> technology brands in response. 
The phenomenon isn&#8217;t new. In October 2022, Tuttle Capital launched ETFs specifically designed to track and potentially profit from Cramer&#8217;s stock picks—including an &#8220;Inverse Cramer&#8221; fund that recently announced its shutdown.
Matthew Tuttle, CEO of Tuttle Capital, stated the ETF&#8217;s original mission was to &#8220;point out the danger of following TV stock pickers&#8221; and demonstrate the <a href="https://www.benzinga.com/etfs/specialty-etfs/24/01/36793492/exclusive-inverse-cramer-etf-shuts-down-how-the-magnificent-7-stocks-factor-in-and-a-broken-c">lack of consistent accountability</a> in financial media recommendations.
It is interesting to note that Cramer also predicted Vice President Kamala Harris's victory over now President-elect Donald Trump in the 2024 election on Nov. 4, <a href="https://www.cnbc.com/2024/11/04/cramer-says-mondays-action-suggests-some-anticipate-a-harris-win.html">according</a> to CNBC. "I'm not sure the market's right about what a Harris presidency would mean for business, but at least now we have a blueprint for what Wall Street thinks it'll mean," he said.
Price Action: Apple&#8217;s stock closed Monday at $232.87, up 1.31% for the day, with a year-to-date gain of 25.44%, according to <a href="https://pro.benzinga.com/dashboard" target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/24/11/42180029/ark-invest-shakes-up-portfolio-with-big-tesla-and-amazon-trades">Cathie Wood-Led Ark Invest&#8217;s Latest Portfolio Maneuver: Dumps Tesla And Palantir Shares, Buys Amazon And AMD Stock</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.<a href="https://www.benzinga.com/apis?utm_source=benzinga.com&amp;utm_campaign=article-bottom" target="_blank" rel="noreferrer noopener"></a>

Equities

Markets

Tech

AAPL

Jim Cramer's Apple Endorsement Sparks 'Inverse Cramer' Backlash As Social Media Users Mock His 'Own It' Advice

Reported Earlier, Replimune Prices $140M Upsized Public Offering Of&nbsp;6,923,000 Common Shares At $13/Share

REPL

Reported Earlier, Replimune Prices $140M Upsized Public Offering Of 6,923,000 Common Shares At $13/Share

SKYSCRAPER-01 is a global Phase III, randomized, double-blinded study evaluating tiragolumab plus Tecentriq compared to Tecentriq alone in 534 patients with PD-L1-high previously untreated, locally advanced unresectable or metastatic NSCLC. Patients were randomized 1:1 to receive either tiragolumab plus Tecentriq or placebo plus Tecentriq, until disease progression, loss of clinical benefit, or unacceptable toxicity. The study did not reach the primary endpoint of overall survival at the final analysis. The overall safety profile observed remained consistent with longer follow-up, and no new safety signals were identified. The detailed data will be presented at a medical meeting in 2025.

RHHBF

RHHBY

RHHVF

Roche's Genentech Provides Update On SKYSCRAPER-01 Phase III Study In PD-L1-High NSCLC Patients

Poseida stockholders to receive up to $13.00 per share in cash, comprised of $9.00 per share in cash at closing and a non-tradeable contingent value right (CVR) to receive up to an aggregate of $4.00 per share in cash; transaction represents total equity value of up to $1.5 billion
Poseida to join the Roche Group and advance its innovative pipeline of non-viral, TSCM-rich CAR-T therapies and genetic medicines as part of Roche's Pharmaceuticals

PSTX

Poseida Therapeutics To Be Acquired bB Roche In $1.5B Deal, Stockholders To Receive Up To $13/ Share In Cash

NASA has selected Elon Musk&#8216;s SpaceX to provide launch services for a rotorcraft lander mission aimed at exploring the largest moon of the planet Saturn in July 2028
What Happened: The deal is priced at about $256.6 million, including launch services and other related costs. 
The mission is expected to fly in the period from July 5 to July 25, 2028, on a SpaceX Falcon Heavy rocket from Florida to explore the moon called Titan. 
&#8220;Dragonfly centers on novel approach to planetary exploration, employing a rotorcraft-lander to travel between and sample diverse sites on Saturn's largest moon,&#8221; NASA said in a statement.
The mission is aimed at identifying the habitability of Titan's environment and searching for chemical indications of whether water-based or hydrocarbon-based life once existed on Saturn's moon, among other goals.
Why It Matters: SpaceX has multiple contracts with NASA to fly astronauts and cargo to the International Space Station (ISS) and also to <a href="https://www.benzinga.com/news/24/07/39870115/spacex-ceo-elon-musk-says-safe-destruction-of-international-space-station-will-be-a-very-dramatic-ev">bring down the space station</a> upon its retirement around 2030. 
NASA is also relying on a particular version of SpaceX&#8217;s Starship launch vehicle called the <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">Human Landing System or HLS</a> to enable astronauts to land back on the surface of the Moon for the first time since 1972.
During the Artemis 3 mission, slated for no earlier than September 2026, the Starship HLS will be launched first and it will wait for NASA's Orion spacecraft in lunar orbit after filling its tanks in space. Once the Orion spacecraft arrives, the HLS will dock with it. Two of the four crew members on the mission will transfer from Orion to Starship and descend to the surface of the moon.
The last time humans set foot on the Moon was in 1972 <a href="https://www.benzinga.com/news/24/01/36692749/just-a-worse-version-of-apollo-elon-musk-baffled-by-nasa-veterans-push-to-ditch-spacex-blue-origin-a" target="_blank" rel="noreferrer noopener">with Apollo 17</a>. Since then, no crew has traveled beyond low-Earth orbit.
While SpaceX is not yet listed on the exchanges, investors can leverage Destiny Tech100 Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DXYZ#NYSE">DXYZ</a>) and Cathie Wood&#8216;s Ark Venture Fund (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARKVX#NASDAQ">ARKVX</a>) to participate in the Musk-led space company's growth.
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/24/11/42058338/byd-makes-a-million-nevs-in-less-than-2-months" target="_blank" rel="noreferrer noopener">BYD Makes A Million NEVs In Less Than 2 Months After Beating Tesla For The First Time Since 2022 In Quarterly Revenue</a></li>
</ul>
Photo courtesy: NASA

SPACE

ARKVX

DXYZ

SpaceX Falcon Heavy To Launch NASA's Dragonfly Mission To Saturn's Largest Moon In 2028

The Company intends to use the net proceeds of this offering, together with cash on hand, including from recent sales under the Company's "at the market" offering program, to repay the $478.0 million mortgage loan with a fixed effective interest rate of approximately 9.0% and which is secured by its Washington Square property. Pending such use, the Compa

Macerich Prices Upsized $395M Public Offering Of 20M Common Shares At $19.75/Share

Nokia and du conclude successful transport network slicing trial in UAE
<ul>
<li>Nokia network slicing technology will help du tailor segments customized to user needs.</li>
<li>The first of its kind in the region, the live transport network slicing deployment will cater to specific requirements for bandwidth, latency, and reliability.</li>
</ul>

Nokia And du Complete Successful Trial Of Transport Network Slicing In The UAE

Telegram has reported significant financial growth in the first half of 2024, with revenue reaching $525 million, driven by strong performance in cryptocurrency holdings. This is despite ongoing legal challenges facing its CEO, Pavel Durov.
What Happened: Telegram&#8217;s financial disclosures indicate that the company has benefited from the rising value of its cryptocurrency holdings, which have grown to $1.3 billion, <a href="https://www.ft.com/content/a48acdae-6a6c-4073-894f-89ef5cf8b185">reported</a> Financial Times, citing the company's unaudited financial statements.
This increase, along with proceeds from selling Toncoins, has provided a financial cushion for the Dubai-based firm amid Durov&#8217;s legal troubles.
In August, Durov was detained by <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40558693/telegram-ceo-pavel-durov-faces-12-serious-charges-french-prosecutor-reveals">French authorities in Paris</a>, facing preliminary charges related to alleged criminal activities on the platform.&nbsp;
See Also: <a href="https://www.benzinga.com/24/11/42154224/weekend-round-up-ai-dominates-headlines-with-nvidia-elon-musk-and-hollywoods-big-names?itm_source=parsely-api">Weekend Round-Up: AI Dominates Headlines With Nvidia, Elon Musk, And Hollywood&#8217;s Big Names</a>
Despite these challenges, Telegram informed investors that the situation has not materially impacted its operations.
The company generated $225 million from a one-time deal involving Toncoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">TON</a>), initially developed by Telegram but now managed by an open-source community. 
Telegram&#8217;s financial statements also show a post-tax profit of $335 million for the first half of the year.
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: Telegram&#8217;s financial health has been under scrutiny, especially with reports suggesting a <a href="https://www.benzinga.com/news/24/09/40669018/telegrams-financial-health-in-question-a-roadblock-to-30b-ipo">loss of $108 million on revenue</a> of $342 million in the previous year.
Despite these challenges, the company has been eyeing a $30 billion IPO in 2026. It remains focused on monetization through ads and premium subscriptions.
A significant portion of Telegram&#8217;s revenue, over 40%, is derived from <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40659490/telegram-derives-40-of-its-revenue-from-crypto-related-operations">crypto-related operations</a>, including its integrated wallet and sale of collectibles.
This reliance on cryptocurrency has provided a financial buffer amid legal challenges.
Additionally, <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41437710/v3v-ventures-invests-5-million-in-premium-telegram-usernames-seizing-unique-advantages-to-">investments like the $5 million</a> by V3V Ventures in premium Telegram usernames highlight the platform&#8217;s potential in the crypto space, as these usernames are seen as valuable assets for building crypto channels.
Price Action: Toncoin is priced at $6.26, reflecting a 2.16% rise over the past 24 hours. However, its trading volume has declined by 15.18%, amounting to $626.53 million at the time of writing, according to <a href="https://pro.benzinga.com/dashboard">data from Benzinga Pro</a>.
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/24/11/42155932/apple-black-friday-2024-get-up-to-200-in-gift-cards-on-iphones-macs-airpods-and-more-heres-everything-you-need-to-know?itm_source=parsely-api">Apple&#8217;s 2024 Black Friday Deals: Gift Cards Over Discounts — Here&#8217;s What You&#8217;ll Get</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

Media

$TON

Telegram's $1.3B Crypto Windfall Shields Business Amid Pavel Durov's Legal Troubles, Toncoin Emerges As The Golden Goose

Former Treasury Secretary Larry Summers predicts potentially significant economic disruption under a potential President-elect Donald Trump&#8216;s administration, cautioning that proposed economic policies could trigger an inflation shock more substantial than recent experiences.
What Happened: In a recent interview, Summers highlighted two primary concerns about the proposed economic agenda: massive demand-side stimulus and substantial supply-side disruptions. The critical components include widespread tax cuts, potential budget deficit expansion, and comprehensive tariff implementations.
&#8220;If they were literally implemented, I have little doubt the Trump program is a far larger stimulus to inflation than anything President [Joe] Biden enacted,&#8221; Summers told CNN.
&#8220;Markets go up, markets go down. Their record in predicting inflation isn&#8217;t very good,&#8221; Summers said. 
Key inflationary risks include:
<ol>
<li>Widespread Tax Cuts: Potentially bloating the federal budget deficit</li>
<li>Across-Board Tariffs: Substantial increases on Chinese goods and imports</li>
<li>Labor Market Disruptions: Potential massive worker deportations creating labor shortages</li>
</ol>
See Also: <a href="https://www.benzinga.com/24/11/42180029/ark-invest-shakes-up-portfolio-with-big-tesla-and-amazon-trades">Want To Invest In Elon Musk&#8217;s Private Companies Like SpaceX And xAI? Here&#8217;s How You Can Do It Via This Cathie-Wood ETF</a>
Why It Matters: Supporting economic analysis from Goldman Sachs reinforces Summers&#8217; concerns. The investment bank estimates a universal 10% tariff could push inflation back to 3%, raising core personal consumption <a href="https://www.benzinga.com/economics/macro-economic-events/24/11/42042411/inflation-could-surge-to-3-if-trump-applies-universal-tariffs-goldman-sachs">expenditures inflation by 0.9-1.2 percentage points</a>.
Market indicators currently show resilience. S&amp;P 500 tracked by the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) has gained 3.61%, trading at $597.53, while Nasdaq-100 Index tracked by Invesco QQQ Trust, Series 1 (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) increased 2.92% to $506.59, according to <a href="https://pro.benzinga.com/dashboard" target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>.
Summers emphasized the potential systemic risks, warning that special economic deals could undermine the rule-based market economy that has historically supported robust U.S. market valuations.
The potential economic shifts come amid a complex fiscal landscape, with the U.S. federal budget deficit projected to reach $1.7 trillion in 2024 and the <a href="https://www.benzinga.com/government/24/10/41461338/imf-upwardly-revises-us-economic-growth-but-warns-under-current-policies-the-us-public-debt-is-not-s">debt-to-GDP ratio approaching 120%</a>.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/24/11/42180029/ark-invest-shakes-up-portfolio-with-big-tesla-and-amazon-trades">Cathie Wood-Led Ark Invest&#8217;s Latest Portfolio Maneuver: Dumps Tesla And Palantir Shares, Buys Amazon And AMD Stock</a></li>
</ul>
Image Via Flickr
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.<a href="https://www.benzinga.com/apis?utm_source=benzinga.com&amp;utm_campaign=article-bottom" target="_blank" rel="noreferrer noopener"></a>

Global

Economics

ETFs

Larry Summers Warns Trump Policies Could Push Prices Higher Than Biden's Actions: Markets Not A Good Predictor Of Inflation

Macro Economic Events

Econ #s

BBJP

WisdomTree Trust Japan Total Dividend Fund

Bank of Japan Core Consumer Price Index (YoY) 1.5% Vs. 1.8% Est.; 1.7% Prior

Asset management firm VanEck&nbsp;expressed optimism at El Salvador&#8217;s bold Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) bet, terming it as a model of innovation for the emerging world.
What Happened: A report penned by Matthew Sigel, VanEck&#8217;s Head of Digital Assets Research, took stock of the Central American nation&#8217;s experience with Bitcoin and its positive impact.
<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">How El Salvador Became Latin America&#39;s Comeback Story: New VanEck Research <a href="https://t.co/mygU0TbTJs">https://t.co/mygU0TbTJs</a>
&mdash; Nayib Bukele (@nayibbukele) <a href="https://twitter.com/nayibbukele/status/1861123139788255290?ref_src=twsrc%5Etfw">November 25, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
The report highlighted that nearly 8% of Salvadorans have&nbsp;used Bitcoin for transactions by 2024, terming it a &#8220;meaningful step&#8221; forward for a country with traditionally low electronic payment adoption rates.
Sigel touched down on the country&#8217;s soaring Bitcoin reserves, which represented 1.6% of the country&#8217;s GDP. 
The idea of a &#8220;<a href="https://www.benzinga.com/markets/cryptocurrency/23/12/36192059/el-salvadors-volcanic-bitcoin-bond-approval-sets-stage-to-build-a-crypto-city">Volcano Bond</a>,&#8221; the proceeds of which are aimed to fund the development of Bitcoin City, an economic zone powered by geothermal energy, was also lauded. 
See Also:&nbsp;<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>
Furthermore, VanEck bet on the country&#8217;s potential as a clean energy-powered Bitcoin mining hub. Interestingly, President Nayib Bukele <a href="https://www.benzinga.com/24/11/42157461/el-salvadors-nayib-bukele-fancies-the-idea-of-renting-volcanoes-to-mine-bitcoin">floated</a> the "rent your volcano to mine&nbsp;Bitcoin&#8221; idea just a day before.
The report also foresaw strong collaboration between the incoming Donald Trump <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42122348/trumps-planned-crypto-council-may-oversee-bitcoin-reserve-report">administration</a> and El Salvador.
&#8220;With Trump's well-documented support for Bitcoin and focus on reshoring and "friend-shoring" supply chains, El Salvador could emerge as a strategic partner in U.S. efforts to build regional alliances.&#8221;
Why It Matters: El Salvador has doubled down on Bitcoin ever since adopting the world&#8217;s largest digital currency as a legal tender in 2021. The country has adopted a plan&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/03/37763988/pro-bitcoin-president-nayib-bukele-says-el-salvador-will-purchase-btc-daily-until-king-cry" target="_blank" rel="noreferrer noopener">to buy one Bitcoin every day</a>, until it becomes unaffordable with fiat currencies.
As of this writing, El Salvador&nbsp;<a href="https://bitcoin.gob.sv/" target="_blank" rel="noreferrer noopener">holds&nbsp;</a>5,945.77 Bitcoins in its treasury, worth nearly $561 million at current market prices.
But despite the promising figures, the Bitcoin adoption in El Salvador <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40644084/el-salvador-president-nayib-bukele-says-bitcoin-uptake-hasnt-been-a-resounding-success-we-">has not been a resounding success</a>. 
Earlier in August, President Bukele admitted that the uptake of Bitcoin in the country hasn&#8217;t been as widespread as anticipated. However, he emphasized that the government never forced anyone to adopt it, offering it as an option instead.
Price Action: As of this writing, Bitcoin was exchanging hands at $94,259.83, down 3.74% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA.." target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>.
Photo Courtesy: Shutterstock.com
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42154900/crypto-expert-who-called-2022-market-crash-warns-about-bitcoin">Crypto Expert Who Called 2022 Market Crash Warns About Bitcoin</a></li>
</ul>

$BTC

Pro-Bitcoin Trump Administration Could See El Salvador Emerging As US 'Strategic Partner,' Says VanEck

Shares of Brightcove Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BCOV#NASDAQ">BCOV</a>) soared 35.42% on Monday to close at $4.32 following news of Halper Sadeh LLC's investigation into the fairness of the company's proposed sale to Bending Spoons for $4.45 per share in cash. 
What Happened: The stock remains volatile, slightly dipping 0.23% in after-hours trading. Year-to-date, BCOV has gained 73.49%, though it is down nearly 70% from its 2021 high of $24.43, according to <a href="https://pro.benzinga.com/dashboard" target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>.
The legal firm is probing whether Brightcove's board secured optimal value for shareholders, citing concerns that the deal may undervalue the company. Halper Sadeh may seek higher compensation or additional disclosures.
This development comes amid a long-term decline in BCOV's valuation, with the stock trading significantly below its all-time high of $24.80 reached in 2012. 
The investigation underscores shareholder apprehension over whether the board has upheld its fiduciary duties in the merger process.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/24/11/42179823/opi-shares-surge-over-44-as-debt-refinancing-plan-offers-340m-solution-for-2025-notes">OPI Shares Surge Over 44% As Debt Refinancing Plan Offers $340M Solution For 2025 Notes</a></li>
</ul>
Image via Pexels
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

BCOV

Brightcove Stock Jumps 35% Amid Legal Probe Into $4.45 Per Share Acquisition Deal

Cathie Wood's ARK Venture Fund (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARKVX#NASDAQ">ARKVX</a>) now offers investors a way to access private companies led by Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO Elon Musk, including SpaceX, X, formerly Twitter, and xAI.
What Happened: On Monday, Wood took to X, and shared that the ARK Venture Fund (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARKVX#NASDAQ">ARKVX</a>), managed by ARK Invest, has opened up an investment opportunity in Musk&#8217;s private ventures.
This includes SpaceX, the aerospace manufacturer and space transportation company; X, the rebranded social media platform previously known as Twitter; and xAI, Musk's artificial intelligence company.&nbsp;
By investing in this fund, individuals can gain indirect exposure to these high-profile companies that are not publicly traded.
See Also:&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42122886/cathie-woods-3-8-million-bitcoin-vision-met-with-doubt-83-say-not-by-2030">Cathie Wood&#8217;s $3.8 Million Bitcoin Vision Met With Doubt: 83% Say Not By 2030</a>
In the ARK Venture Fund's portfolio, SpaceX is the most significant holding, accounting for 12.7% of the fund's total weight.
X Corp. holds a smaller share at 0.65%, while xAI represents 1.5% of the portfolio. Musk's EV company Tesla remains part of the fund with a 0.5% weight.
<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">We are known for our early investment in <a href="https://twitter.com/Tesla?ref_src=twsrc%5Etfw">@Tesla</a>. Now, investors can access <a href="https://twitter.com/elonmusk?ref_src=twsrc%5Etfw">@elonmusk</a>&#39;s private companies like <a href="https://twitter.com/SpaceX?ref_src=twsrc%5Etfw">@SpaceX</a>, <a href="https://twitter.com/X?ref_src=twsrc%5Etfw">@X</a>, and <a href="https://twitter.com/xai?ref_src=twsrc%5Etfw">@XAI</a> in the ARK Venture Fund. To learn about the Fund and view current holdings, click here: <a href="https://t.co/sKsHEfyphp">https://t.co/sKsHEfyphp</a>. Holdings are subject to change. <a href="https://t.co/dPrsueLw92">pic.twitter.com/dPrsueLw92</a>
&mdash; Cathie Wood (@CathieDWood) <a href="https://twitter.com/CathieDWood/status/1861073282348241040?ref_src=twsrc%5Etfw">November 25, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Why It Matters: Previously, it was reported that SpaceX was planning to launch a tender offer next month, allowing the sale of shares at $135 each, which would value the <a href="https://www.benzinga.com/24/11/42022150/spacex-to-launch-tender-offer-valuing-company-at-over-250-billion-report">company at over $250 billion</a>.
On the other hand, Fidelity&#8217;s latest valuation <a href="https://www.benzinga.com/top-stories/24/10/41603930/trump-vs-musk-djt-stock-worth-more-than-latest-x-valuation-thanks-to-2024-election-run-up">estimates X at $9.4 billion</a>, a sharp drop from its $44 billion valuation in 2022 when Musk acquired the company.
However, following major advertisers exodus, things appear to be getting better for Musk's social media platform.
Earlier this month, Musk thanked major brands such as IBM, Walt Disney Co., Comcast, and Warner Bros. Discovery for returning to advertise on X.
After the U.S. 2024 Presidential election, reports indicated that some advertisers are considering returning to X to align with both Musk and President-Elect Donald Trump.
Meanwhile, Musk&#8217;s AI startup, xAI, is reportedly seeking to raise as much as $6 billion to acquire 100,000 Nvidia Corporation chips. This new funding round would <a href="https://www.benzinga.com/24/11/42022077/elon-musks-xai-seeks-6b-at-50b-valuation-to-acquire-100k-nvidia-chips-for-memphis-data-center">value xAI at $50 billion</a>, more than twice its previous valuation of $24 billion.
Price Action: ARK Venture Fund ended Monday&#8217;s regular session up 0.43%, reaching $28.22, according to <a href="https://pro.benzinga.com/dashboard">data from Benzinga Pro</a>.
Image via Flickr
Read Next:
<ul>
<li><a href="https://www.benzinga.com/24/11/42180029/ark-invest-shakes-up-portfolio-with-big-tesla-and-amazon-trades">Cathie Wood-Led Ark Invest&#8217;s Latest Portfolio Maneuver: Dumps Tesla And Palantir Shares, Buys Amazon And AMD Stock</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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