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Nippon Shinyaku Co Ltd is a specialty and generic drug manufacturing company. Nippon's research and development activities include a focus on pharmaceuticals, nutraceuticals, safety and pharmacokinetics of drug seeds, genomic drug discovery, and nucleic acid drugs. The company also develops health food ingredients, preservatives, protein preparations, and spices. Nippon considers merger and acquisition investment as a potential component of its operational growth strategy for expanding its research, development, manufacturing, and marketing capabilities.

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Renowned investment adviser&nbsp;Gary Black questioned the valuation of&nbsp;MicroStrategy Incorporated&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>), suggesting the company&#8217;s stock was significantly overpriced.
What Happened: In a recent X post, Black, managing partner at The Future Fund, expressed his confusion over MicroStrategy&#8217;s stock price. 
He pointed out that the company&#8217;s Bitcoin holdings, worth $31.2 billion when he made the observation, and its <a href="https://www.benzinga.com/news/24/11/41693867/microstrategy-shares-are-falling-today-what-you-need-to-know">net debt</a> of $4.2 billion equated to an equity value of $27 billion. However, the company&#8217;s stock market value stood at a whopping $106 billion. 
Black estimated that MicroStrategy&#8217;s&nbsp;shares should be worth about&nbsp;$105/share, a figure 75% lower than its current trading price. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24MSTR&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$MSTR</a> ‘s stock price makes no sense to me. MicroStrategy owned 331,200 bitcoins at last count, worth $31.2 billion at <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> =$100K, and has about $4.2 billion of net debt, which equates to $27B equity value. By comparison, MSTR's stock market value is $106 billion using the…
&mdash; Gary Black (@garyblack00) <a href="https://twitter.com/garyblack00/status/1859962141509292182?ref_src=twsrc%5Etfw">November 22, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Black added that MicroStrategy&#8217;s core software business wasn&#8217;t contributing to growth. Indeed, the software segment recorded a 10.3% decline in year-on-year revenues. 
&#8220;It would be like a company issuing cash or debt and then buying marketable securities. No one will pay for growth from that since anyone can buy Bitcoin,&#8221; he argued. 
Black also ruled out valuing stocks based on future earnings expectations, instead opting to measure the stock&#8217;s fundamental business, in this case, MicroStrategy, in conjunction with the value of Bitcoin.
See Also:&nbsp;<a href="https://www.benzinga.com/24/11/42155866/bitcoin-recuperates-from-95k-dip-ethereum-dogecoin-slide-as-investors-prepare-for-thanksgiving-week-top-analyst-expects-btc-to-peak-around-this-time">Bitcoin Recovers From $95K Dip, Ethereum, Dogecoin Fall Ahead Of Thanksgiving Holiday: BTC Is &#8216;Crossing The Rubicon,&#8217; Says Expert</a>
Why It Matters: Black&#8217;s comments come in the wake of recent research by BitMEX, which <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42138209/microstrategy-trading-at-insane-256-premium-to-bitcoin-holdings-research-shows">showed that MicroStrategy is trading at a 256% premium</a> to the net asset value (NAV) of its Bitcoin holdings. The analysis connected the extreme valuation disparity to some financial regulators banning people from buying Bitcoin ETFs, leading them to buy MicroStrategy&#8217;s stock instead.
MicroStrategy&#8217;s aggressive Bitcoin acquisition strategy has been the subject of intense media coverage in recent weeks. The company&#8217;s co-founder,&nbsp;Michael Saylor, recently revealed that MicroStrategy is making $500 million a day as Bitcoin <a href="https://www.benzinga.com/24/11/42151809/michael-saylor-reveals-microstrategy-is-making-500m-a-day-with-bitcoin-may-very-well-be-the-most-profitable-company-in-the-us-growing-the-fastest-right-now">inched closer</a> to $100,000 for the first time in its history. 
Since the beginning of November, MicroStrategy&#8217;s stock has leaped 83%, while Bitcoin, the asset it holds on its books, has grown by 38%.
Price Action:&nbsp;At the time of writing, Bitcoin was trading at $97,638.71, down 0.85% in the last 24 hours, according to&nbsp;<a href="https://pro.benzinga.com/dashboard" target="_blank" rel="noreferrer noopener">Benzinga Pro data</a>. Shares of MicroStrategy closed 6.19% higher at $421.88 on Friday&#8217;s regular session.
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/general/social-media/24/11/42155884/economist-slams-doges-simplistic-approach-to-government-spending-questions-super-bowl-ad-criticism">Economist Slams DOGE: Tells Elon Musk-Led Initiative To &#8216;Do Your Legal Job Well&#8217; Amid Super Bowl Ad Spending Clash</a></li>
</ul>

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

Cryptocurrency

MSTR

Are MicroStrategy's Shares Worth Only $105? Investment Adviser Gary Black Weighs In

Wedbush Securities has issued an endorsement of the artificial intelligence software sector, with Managing Director Dan Ives predicting that 2025 will be a pivotal year for AI implementation across the industry. This comes as Palantir Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>) continues its remarkable ascent, <a href="https://www.benzinga.com/24/11/42143996/daddys-home-palantir-creates-two-new-billionaires-after-trumps-win-both-own-less-than-2-stock-and-are-thiels-favorites">having surged 288% year-to-date</a>.
What Happened: In a notable sector-wide upgrade, Ives raised Palantir&#8217;s price target to $75 while upgrading both Elastic NV (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ESTC#NYSE">ESTC</a>) and Snowflake Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNOW#NYSE">SNOW</a>) to Buy ratings. He also increased Salesforce Inc.&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NYSE">CRM</a>) price target to $375, signaling broader confidence in the software sector&#8217;s AI potential.
&#8220;The AI Revolution is accelerating and now it&#8217;s the software sector that will benefit from the use case phase of AI set to be primetime in 2025,&#8221; Ives <a href="https://x.com/DivesTech/status/1860816966367281267">wrote</a>, adding, &#8220;Software AI age here.&#8221;
The bullish outlook aligns with <a href="https://www.benzinga.com/24/11/42094248/trumps-return-boosts-palantir-national-security-bets-drive-140-billion-market-cap">Palantir&#8217;s recent performance</a>, which has seen its market capitalization soar to approximately $140 billion, surpassing defense contractor Lockheed Martin Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>). The company&#8217;s growth has been particularly notable following recent political developments, with its stock reaching $61 per share.
See Also: <a href="https://www.benzinga.com/general/social-media/24/11/42155884/economist-slams-doges-simplistic-approach-to-government-spending-questions-super-bowl-ad-criticism">Economist Slams DOGE: Tells Elon Musk-Led Initiative To &#8216;Do Your Legal Job Well&#8217; Amid Super Bowl Ad Spending Clash</a>
Why It Matters: Palantir&#8217;s momentum is supported by concrete achievements, including a $480 million Pentagon contract for Project Maven and its first profitable year in 2023, reporting $144 million in <a href="https://www.benzinga.com/24/11/42094248/trumps-return-boosts-palantir-national-security-bets-drive-140-billion-market-cap">third-quarter net income</a>. 
The company has successfully expanded its <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/11/42039361/palantir-soars-to-150b-market-cap-as-analysts-flag-risks-in-valuation-insider-sales">commercial sector revenue</a> to 35% of total earnings, securing major contracts with CVS Health Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVS#NYSE">CVS</a>) and BP plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BP#NYSE">BP</a>).
However, some investors express caution regarding valuations. Major hedge funds, including Renaissance Technologies and ARK Investment Management, reduced their Palantir <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/11/42039361/palantir-soars-to-150b-market-cap-as-analysts-flag-risks-in-valuation-insider-sales">holdings in the third quarter</a>, though maintaining significant positions. 
The company&#8217;s P/E ratio of 328.85 and heavy retail investor base of approximately 50% have prompted discussions about <a href="https://www.benzinga.com/24/11/42094248/trumps-return-boosts-palantir-national-security-bets-drive-140-billion-market-cap">potential market volatility</a>.
Price Action: Palantir&#8217;s stock closed at $64.35 on Friday, gaining 4.87% during the regular trading session. In after-hours trading, the stock dipped slightly by 0.20%. Year-to-date, Palantir has seen a remarkable surge of 288.12%, according to <a href="https://www.benzinga.com/pro/">data from Benzinga Pro</a>.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/24/11/42155405/mcdonalds-spends-100-million-after-e-coli-outbreak-as-trust-and-love-must-be-rebuilt-says-chief-impact-officer">McDonald&#8217;s Spends $100 Million After E. Coli Outbreak As &#8216;Trust And Love&#8217; Must Be Rebuilt, Says Chief Impact Officer</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.

Equities

Global

ESTC

PLTR

SNOW

Palantir Price Target Raised To $75 By Dan Ives Amid 288% YTD Surge: Analyst Calls 2025 A 'Primetime' Year For AI

Tech mogul Elon Musk was amused by Bitcoin's (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) sudden pullback following financial analyst Jim Cramer&#8217;s bullish take on the leading cryptocurrency.
What happened: In a recent X post, Musk reacted with a laughing face and 100% emoji in response to a satirical post on the "Inverse Cramer" phenomenon.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">&#x1f602;&#x1f4af; <a href="https://t.co/PzkLsmVFz7">https://t.co/PzkLsmVFz7</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1860470986438545485?ref_src=twsrc%5Etfw">November 23, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
The story started Friday when Cramer, host of CNBC's Mad Money show and a former hedge fund manager, <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42144871/jim-cramer-says-own-bitcoin-thats-a-winner-crypto-community-scoffs-pack-up-your-bags-sell-everything">revealed owning Bitcoin</a> and called it a "clear winner."
Interestingly, Bitcoin, which was on the verge of reaching $100,000, retraced after Cramer&#8217;s advocacy and fell below $96,000 early Sunday.
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>
Why It Matters: For the uninitiated, the "Inverse Cramer" phenomenon hinges on the belief that doing the opposite of what Cramer advises could lead to profits.
In fact, an exchange-traded fund (ETF) <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">was floated in 2022</a>, allowing investors to bet against Cramer's predictions. The ETF eventually shut down earlier this year.
Even influential cryptocurrency analysts like Ali Martinez wrote, "Another sell signal," reacting to Cramer's endorsement.
<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">Another sell signal&#8230;<a href="https://t.co/YlJv9oPocw">pic.twitter.com/YlJv9oPocw</a>
&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1860420443124981817?ref_src=twsrc%5Etfw">November 23, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
That said, there has been no definitive proof of counter-trading Cramer's predictions being a profitable strategy.
Price Action: At the time of writing, Bitcoin was trading at $97,556.56, down 1.03% 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/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

Elon Musk Has A Laugh As Bitcoin Dips After Jim Cramer's Endorsement

Following the <a href="https://www.benzinga.com/news/24/11/41768178/donald-trump-defeats-kamala-harris-to-win-2024-election">2024 U.S. Presidential election</a>, a significant shift is happening in the social media landscape.&nbsp;
Many users, including Taylor Swift's fanbase, the Swifties, <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">have begun leaving</a> Elon Musk's X, formerly Twitter, for Bluesky, a rising social media platform.
In just a few days, Bluesky's user base surged from 14 million to 20 million, growing by a million new users each day.
This sudden influx follows dissatisfaction with Musk's social media platform, especially after the changes he introduced following the acquisition of Twitter, and now the 2024 election outcome.
Why Bluesky?
Bluesky offers a <a href="https://www.benzinga.com/general/social-media/24/11/42039681/x-vs-threads-vs-bluesky-does-elon-musks-social-media-site-still-reign-supreme">refreshing alternative</a> to X and Meta Platforms, Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) Threads.
Unlike Threads, which has minimized political content, Bluesky allows for more personalized, open conversations. Its open-source model, based on the AT Protocol, aims to empower users with greater control over their content and moderation.
With features like user-curated starter packs and decentralized governance, Bluesky has become a top choice for former X users looking for a platform that prioritizes user experience over corporate control.
See Also: <a href="https://www.benzinga.com/tech/24/11/42056367/how-to-safeguard-your-data-before-apples-deadline-step-by-step-guide-for-backing-up-ios-8-and-earlier-devices">How To Safeguard Your Data Before Apple&#8217;s Deadline: Step-By-Step Guide For Backing Up iOS 8 And Earlier Devices</a>
Getting Started With Bluesky: The Starter Packs
If you&#8217;re new to Bluesky, building your feed from scratch can be overwhelming. Thankfully, Bluesky's starter packs make this process easier.
Starter packs are user-curated lists of accounts, organized by interests, topics, or locations. They allow new users to quickly find and follow accounts that align with their interests without the tedious process of searching individually.
How To Find And Use Starter Packs
With over 86,000 starter packs available, you can browse them through the directory and search by keywords. Click <a href="https://blueskydirectory.com/starter-packs/all?q=">here</a> to access the directory.
You can either follow individual accounts or use the &#8220;follow all&#8221; button for faster results.
Here are some examples of user-created starter packs:&nbsp;
<figure class="wp-block-image size-large"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/23030750/Screenshot-2024-11-23-at-1.37.44%E2%80%AFPM-1024x641.png" alt="" class="wp-image-662038" /><figcaption class="wp-element-caption">Source: Bluesky</figcaption></figure>
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
<figure class="wp-block-image size-large"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/23031140/Screenshot-2024-11-23-at-1.41.30%E2%80%AFPM-1024x639.png" alt="" class="wp-image-662039" /><figcaption class="wp-element-caption">Source: Bluesky</figcaption></figure>
How To Create Your Own Starter Pack
In case, you want to create your unique starter pack, there are some easy steps you can follow.
Step I: Go to your profile on the mobile or desktop app.
Step II: Tap &#8220;Starter Packs&#8221; and select &#8220;Create.&#8221;
Step III: Name your pack, add a description, and choose users to include.
Step IV: Share your new pack with others through a post.
Image via Bluesky
Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/24/09/41061167/ios-18-includes-apples-new-passwords-app-with-end-to-end-encryption-heres-how-you-use-it" target="_blank" rel="noreferrer noopener">iOS 18 Includes Apple's New Passwords App with End-to-End Encryption: Here's How You Use It</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.

Social Media

Tech

Bluesky Adds Millions Of Users As Elon Musk's X Faces Exodus Post Trump Victory: Here Are A Few Starter Packs To Help You Level Up On The Platform

Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) recently unveiled its Black Friday 2024 promotion, running from Nov. 29 to Dec. 2, offering customers gift cards with the purchase of eligible products instead of direct discounts.
What Happened: Apple's Black Friday deals include gift cards ranging from $25 to $200, depending on the product. Here's a detailed breakdown:
iPhone: Customers can receive up to a $75 Apple Gift Card by purchasing an iPhone 15, iPhone 14, or iPhone SE.
Mac: Potential buyers can earn up to a $200 Apple Gift Card with purchases of MacBook Air 15-inch (M3), MacBook Air 13-inch (M3), or MacBook Air 13-inch (M2).
iPad: You can get up to a $100 gift card when buying an iPad Pro, iPad Air, or iPad (10th generation).
Apple Watch: Users can get a $50 Apple Gift Card with the Apple Watch SE while buying a new smartwatch.
AirPods: Receive up to a $75 gift card on AirPods Max, AirPods Pro 2, or AirPods 4.
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/09/41017367/huawei-riding-high-on-trifold-success-launches-revolutionary-laptop-powered-by-homegrown-chips-softw" target="_blank" rel="noreferrer noopener">Huawei, Riding High On Trifold Success, Launches Revolutionary Laptop Powered By Homegrown Chips, Software — China Ready To Break Free From US Tech Dependence?</a>
Apple TV &amp; Home: Buyers can get a $50 gift card with an Apple TV 4K or HomePod purchase.
Beats: You can earn up to a $50 Apple Gift Card on select Beats products, including Beats Studio Pro, Beats Solo Buds, and Beats Fit Pro.
Accessories: A $25 Apple Gift Card is available for accessories like the Magic Keyboard, Apple Pencil, and Smart Folios for iPads.
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: The announcement follows weeks of early Black Friday sales from retailers like Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), Walmart (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>), and BestBuy Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBY#NYSE">BBY</a>), many of which feature <a href="https://www.benzinga.com/24/11/42041663/walmarts-black-friday-cyber-monday-huge-deals-on-electronics-toys-and-more">notable discounts</a> on Apple products.
However, customers who choose to shop directly with Apple can still benefit from the gift card promotion, particularly when paired with a device trade-in.
Apple Card users can also earn 3% cashback on their purchases, adding further value.
Price Action: At the time of writing, Apple shares rose by 0.035% to $229.95 in after-hours trading, following a 0.59% gain to $229.87 during Friday&#8217;s regular session, according to <a href="https://benzinga.grsm.io/lxquj26b2sag">Benzinga Pro data</a>.
Photo courtesy: Shutterstock
Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/global/24/11/42132104/huawei-to-launch-mate-70-smartphone-with-advanced-homegrown-chip-challenging-apple-in-china-amid-us-sanctions-report">Apple Faces New Challenge As Huawei Advances Domestic Chip Tech In Mate 70 Series Amid US Sanctions: Report</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.

AAPL

AMZN

Apple's 2024 Black Friday Deals: Gift Cards Over Discounts — Here's What You'll Get

Prominent economist Claudia Sahm has criticized the newly formed Department of Government Efficiency (DOGE) and <a href="https://www.benzinga.com/news/global/24/11/41927289/trump-appoints-elon-musk-and-vivek-ramaswamy-to-lead-doge-targeting-bureaucracy-and-65-trillion-federal-spending-we-will-not-go-gently">its leadership&#8217;s approach to government spending</a>, particularly regarding their stance on the U.S. Census Bureau&#8217;s 2010 Super Bowl advertisement.
What Happened: The controversy emerged after DOGE posted examples of government spending on X (formerly Twitter), including &#8220;$2.5 million on a Super Bowl Ad for the Census.&#8221; 
Former presidential candidate Vivek Ramaswamy, recently appointed as co-director of DOGE alongside Tesla Inc. CEO Elon Musk, responded that &#8220;the federal government shouldn&#8217;t be in the business of buying Super Bowl ads.&#8221;
Sahm, creator of the widely-referenced Sahm Rule indicator, countered Ramaswamy&#8217;s position, <a href="https://x.com/Claudia_Sahm/status/1860781540445163719">stating</a>, &#8220;Rule of thumb: the Census is in the Constitution. Do your legal job well.&#8221; She defended the Census Bureau&#8217;s decision, noting that the advertisement&#8217;s effectiveness could potentially save taxpayers money.
The Census Bureau had previously justified the $2.5 million expenditure, explaining that every 1% increase in mail-in responses would save $85 million in door-to-door collection costs.
Sahm expressed broader concerns about DOGE&#8217;s approach, stating, &#8220;There is so much good that &#8216;outside the box thinking&#8217; in the government could do… but it&#8217;s being wasted on destructive, simplistic thinking. DOGE is on track to be a wasted opportunity.&#8221;
See Also: <a href="https://www.benzinga.com/news/24/11/42154628/larry-page-google-co-founder-said-hed-leave-his-fortune-to-elon-musk-over-charity-because-of-his-plans-to-go-to-mars-to-back-up-humanity">Larry Page, Google Co-Founder, Said He&#8217;d Leave His Fortune To Elon Musk Over Charity Because Of His Plans &#8216;To Go To Mars To Back Up Humanity&#8217;</a>
Why It Matters: The economist also criticized DOGE&#8217;s focus on reducing resources and employees, arguing that some efficiency improvements would require additional investment. &#8220;A MASSIVE overhaul of the IT as one example would be huge,&#8221; she noted.
DOGE, announced by President-elect Donald Trump, aims to restructure federal agencies and reduce the government&#8217;s $6.5 trillion annual spending. 
The department has faced additional criticism from former Labor Secretary Robert Reich, who characterized it as &#8220;riddled with conflicts of interest,&#8221; particularly regarding Musk&#8217;s involvement given his companies&#8217; <a href="https://www.benzinga.com/politics/24/11/41962372/trumps-doge-with-musk-at-the-helm-riddled-with-conflicts-of-interest-says-clinton-era-official-robert-reich">federal contracts and ongoing investigations</a>.
The department is scheduled to complete its work by Jul 4, 2026, coinciding with America&#8217;s 250th independence anniversary.
DOGE&#8217;s acronym coincides with the cryptocurrency Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>), leading to a 30.79% price bump in the coin after the department's name was announced. Market speculation attributes this rise to Musk's known association with Dogecoin.
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Image via Flickr
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Government

Economics

$DOGE

Economist Slams DOGE: Tells Elon Musk-Led Initiative To 'Do Your Legal Job Well' Amid Super Bowl Ad Spending Clash

Bitcoin recovered strongly from its morning fall as cryptocurrency investors prepared for Thanksgiving.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 7:45 p.m. ET)</td>
</tr>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>-0.05%</td>
<td>$97,873.88</td>
</tr>
<tr>
<td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>-1.93%</td>
<td>$3,349.58</td>
</tr>
<tr>
<td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>-3.03%</td>
<td>$0.4231</td>
</tr>
</tbody>
</table>
</figure>
What Happened: The leading cryptocurrency fell below $96,000 during the afternoon, only to recover losses as the evening progressed.
On Friday, the asset nearly reached the record $100,000 level before stalling due to a strong pushback from the bears.
Ethereum, the second-largest cryptocurrency by market capitalization, failed to replicate its senior token&#8217;s comeback, ending the 24-hour period down by nearly 2%.
The sharp correction caused mayhem in the cryptocurrency derivatives market, with over $511 million getting liquidated in the last 24 hours. About $380 million in leveraged long bets were wiped out.
Bitcoin's Open Interest (OI) dropped marginally by 0.20%, while the number of short positions for the coin surged dramatically against longs in the last 24 hours.
Market sentiment remained in the "Extreme Greed" zone, as per the Cryptocurrency Fear and Greed Index, signaling a desire to buy more.
Top Gainers (24-Hours)
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 7:45 p.m. ET)</td>
</tr>
<tr>
<td>The Sandbox (SAND)</td>
<td>+73.46%</td>
<td>$0.7739</td>
</tr>
<tr>
<td>Decentraland (MANA)</td>
<td>+31.24%</td>
<td>$0.7014</td>
</tr>
<tr>
<td>Tezos (XTZ)</td>
<td>+15.88%</td>
<td>$1.35</td>
</tr>
</tbody>
</table>
</figure>
The global cryptocurrency market capitalization stood at $3.33 trillion, following a marginal contraction of 0.69% in the last 24 hours.
Stock futures inched higher Sunday night. The Dow Jones Industrial Average Futures rose 226 points, or 0.51%, as of 7:45 p.m. EDT.&nbsp; Futures tied to the S&amp;P 500 gained 0.42%, while Nasdaq 100 Futures added 0.49%.
The shortened Thanksgiving trading week would see the release of October's personal consumption expenditure (PCE) data, the Federal Reserve's preferred inflation measure.
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Analyst Notes: In a note to Benzinga, Chris Kline, COO and Co-Founder of BitcoinIRA, noted a significant interest in Bitcoin.
"Bitcoin appears to be crossing the Rubicon, garnering enthusiasm among those discussing economic policy at the national level, both in the US and across the globe," Kline said.
He also highlighted the elevation of <a href="https://www.benzinga.com/24/11/42028576/rfk-jr-stands-firm-on-bitcoin-as-currency-of-freedom-says-howard-lutnik-as-treasury-secretary-will-be-best-for-apex-crypto">Bitcoin proponents</a> to cabinet-level positions in the incoming Donald Trump administration, potentially making "murky regulatory waters" clear.
Widely-followed cryptocurrency analyst Ali Martinez predicted Bitcoin to peak between June and September 2025 in the ongoing bull cycle.
"Long-term Bitcoin holders are showing signs of growing greed! Historically, this behavior suggests it could take 8–11 months for BTC to hit a market top,&#8221; Martinez stated.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Long-term <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> holders are showing signs of growing greed! Historically, this behavior suggests it could take 8-11 months for <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> to hit a market top. If the trend holds, we might see a potential peak between June and September 2025! <a href="https://t.co/UacfaQb5VW">pic.twitter.com/UacfaQb5VW</a>
&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1860708957213659648?ref_src=twsrc%5Etfw">November 24, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
 Photo by Igor Faun on Shutterstock 
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$ETH

Bitcoin Recovers From $95K Dip, Ethereum, Dogecoin Fall Ahead Of Thanksgiving Holiday:  BTC Is 'Crossing The Rubicon,' Says Expert

<a href="https://www.benzinga.com/personal-finance/24/11/41817396/suze-orman-warns-its-on-you-to-make-sure-you-have-the-right-coverage-for-2025-and-beyond-dont-re">Suze Orman&#8217;s</a> blog post outlines her advice for staying financially healthy this holiday season. It's worth listening to, especially with inflation still pinching wallets. Her message is simple: don't let holiday spending throw your finances off track, no matter how tempting it is to splurge on loved ones.&nbsp;
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She says, &#8220;True generosity is when a gift is as kind to the giver as it is to the recipient.&#8221; In other words, if gift-giving means adding to your debt, it's time to rethink your approach.
One of her biggest warnings is about credit card debt, which is a massive issue right now. According to WalletHub, the average interest rate on credit cards is about 22%. Carrying a balance at that rate can quickly spiral into financial trouble.&nbsp;
Orman advises skipping gifts altogether if you can't pay off your card balance in full. The same goes for those Buy Now, Pay Later (BNPL) services, which might look like a good deal but can lead to trouble if you miss payments. NerdWallet recently reported that about 37% of BNPL users pay late fees, which can snowball into even bigger expenses.
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If you have high-interest debt, Orman suggests paying it down instead of spending on gifts. She encourages creative, low-cost gifting ideas for those on steadier financial ground.&nbsp;
Think of offering your time or talents – babysitting, helping with home projects or making something handmade. Orman and her wife KT only exchange homemade gifts, which she says are the most meaningful.
If pressured to meet social expectations, Orman suggests honest conversations with family and friends. "People who truly care for you will understand and support your decision to stand in financial truth," she says. A thoughtful conversation can relieve pressure and help others shift their priorities.
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Orman offers a simple financial checkup to help you gauge your holiday spending readiness. Can you pay off your credit card bills in full each month? Do you have an<a href="https://www.benzinga.com/personal-finance/24/08/40531988/you-dont-need-emergency-savings-says-grant-cardone-claims-that-three-months-of-savings-in-case-o"> emergency fund</a> that covers at least eight months of expenses? Are you consistently saving for retirement?&nbsp;
If you answered "no" to any of these, Orman advises holding back on discretionary spending. Instead, focus on small, manageable steps to improve your financial foundation – automating savings, tackling debt and sticking to a budget can make a difference.
The timing of Orman's advice couldn't be more relevant. Inflation remains stubborn and experts are still discussing the possibility of a recession.&nbsp;
According to a report by AP News, The National Retail Federation (NRF) forecasts that U.S. holiday sales in 2024 will increase by 2.5% to 3.5%, amounting to $979.5 billion to $989 billion. This growth rate is slower than the 3.9% increase in 2023 as many households tighten budgets.&nbsp;
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Personal Finance

Suze Orman Says This Holiday Choice Could Make Or Break Your Budget – Here's Why You Must Decide Now

McDonald&#8217;s is pulling out all the stops to rebuild its reputation and lure customers back after an E. coli outbreak linked to slivered onions in its Quarter Pounder hamburgers. The fast-food giant has reportedly earmarked $100 million for recovery efforts, including marketing and franchisee support to address the fallout.
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The outbreak infected more than 100 people across 14 states, hospitalized 34 and tragically claimed one life, according to the <a href="https://www.cdc.gov/ecoli/outbreaks/e-coli-O157.html">Centers for Disease Control and Prevention.</a> The CDC traced the source to a supplier that has since recalled the product, Business Insider reported. Still, McDonald's is feeling the heat.
The company acknowledged the toll in its third-quarter earnings report, which revealed a decline in-store visits and daily sales as cautious customers stayed away. McDonald&#8217;s <a href="https://www.benzinga.com/insights/short-sellers/24/11/42096504/how-is-the-market-feeling-about-mcdonalds">stock has dropped over 7% in the past month. </a>The crisis has had a broad impact on business.
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To regain customer trust, McDonald's is spending $35 million on marketing campaigns, including a new TV ad promoting a limited-time offer of 10 Chicken McNuggets for just $1 via the McDonald&#8217;s app. The campaign aims to draw customers back with deals that highlight familiar favorites.
An additional $65 million is being directed to support the franchisees hit hardest by the outbreak. These funds will cover operational losses and other costs as local operators work to recover from the health scare&#8217;s effects on traffic and sales.
Michael Gonda, McDonald&#8217;s Chief Impact Officer for North America and Tariq Hassan, Chief Marketing and Customer Experience Officer, addressed the crisis head-on in a memo seen by CNN. &#8220;The relevance, trust and love for the Golden Arches has been hard-earned over nearly 70 years by our unwavering commitment to do the right thing,&#8221; they wrote. &#8220;The past three weeks have only further exemplified that.&#8221;
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The fallout has demonstrated the importance of food safety and customer loyalty in maintaining McDonald's iconic brand. As the company <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41494741/mcdonalds-well-positioned-to-contain-e-coli-outbreak-analysts-say-impact-minimal-co">works to restore confidence,</a> the memo clarifies that rebuilding &#8220;trust and love&#8221; is a top priority.
While the company's recovery plan is strong, the future remains uncertain. Analysts and investors will watch closely to see whether McDonald's can successfully rebound from the crisis and reignite customer enthusiasm. The Golden Arches are betting on turning a tough situation into an opportunity to show resilience and commitment to its customers.
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McDonald's Spends $100 Million After E. Coli Outbreak As 'Trust And Love' Must Be Rebuilt, Says Chief Impact Officer

A leading analyst has suggested that Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) could potentially skyrocket to $180,000 and eventually reach a <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38240233/crypto-analyst-unveils-reasons-behind-latest-altcoin-crash-forecasts-rebound-amid-turmoil">seven-figure valuation</a>.
What Happened: The prominent analyst, known by the pseudonym Pentoshi, projected a bullish future for Bitcoin. Pentoshi anticipates that Bitcoin could rise by approximately 82% from its present value.
In a post on X, Pentoshi posits that this expected price surge is merely a stepping stone in Bitcoin&#8217;s path to exceeding the $1 million mark. 
He stated, &#8220;Eventually&nbsp;one day over $1 million.&nbsp;If you zoom out and&nbsp;think bigger. Hard to do&nbsp;when we live day to&nbsp;day at times. $180,000 still&nbsp;in 2026 at the latest&nbsp;in my opinion. Eventually higher&nbsp;than we all imagined.&#8221;
<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">Eventually one day over a milli. If you zoom out and think bigger. Hard to do when we live day to day at times 180k still in 2026 at latest imo Eventually higher than we all imagined <a href="https://t.co/3hvM2g91u2">https://t.co/3hvM2g91u2</a>
&mdash; &#x1f427; Pentoshi (@Pentosh1) <a href="https://twitter.com/Pentosh1/status/1859871839289475411?ref_src=twsrc%5Etfw">November 22, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
<figcaption class="wp-element-caption">Moreover, Pentoshi envisions the wider crypto market entering a parabolic phase, providing substantial earning potential in the coming months. However, he warns that such advances are not sustainable over the long haul.</figcaption></figure>
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42049183/heres-how-a-bitcoin-whale-nets-179m-from-a-120-investment">Here&#8217;s How A Bitcoin Whale Nets $179M From A $120 Investment</a>
At the time of writing, Bitcoin was trading at $97,326.69, down by almost 2% in the last 24 hours. 
Why It Matters: Pentoshi&#8217;s prediction comes at a time when Bitcoin and other cryptocurrencies are gaining mainstream acceptance. 
The potential surge in Bitcoin&#8217;s value underscores the growing interest and investment in the crypto market. However, it&#8217;s important to note that while the crypto market offers significant earning potential, it also comes with risks, as highlighted by Pentoshi&#8217;s caution about the sustainability of these advances. 
The crypto market is known for its volatility, and investors should be prepared for potential fluctuations in value.
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Crypto Analyst: Bitcoin Poised To Skyrocket To $180K and 'Eventually' Top $1M

Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), the world&#8217;s largest cryptocurrency by market cap, could potentially hit a staggering $125,000 by the end of this year.
What Happened: According to predictions <a href="https://kalshi.com/markets/kxbtcmaxy/how-high-will-bitcoin-get-this-year">by</a> betting platform Kalshi, an 85% probability of Bitcoin reaching $100,000 by the close of 2024. The data also suggests a possibility of Bitcoin&#8217;s price surpassing $125,000 by year&#8217;s end.
The platform even sees a 9% chance of Bitcoin breaking the $150,000 mark,&nbsp;with an outside bet of&nbsp;it soaring to $250,000 or more.
<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">Bitcoin continues to climb Now an 85% chance it will hit $100K before December <a href="https://t.co/2vHUZQUPCm">pic.twitter.com/2vHUZQUPCm</a>
&mdash; Kalshi (@Kalshi) <a href="https://twitter.com/Kalshi/status/1859666875631927546?ref_src=twsrc%5Etfw">November 21, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Despite Bitcoin not yet breaching the $100,000 mark, the consensus among experts is that it&#8217;s a question of &#8220;when,&#8221; not &#8220;if.&#8221; 
Bitcoin has already witnessed a nearly 40% surge in November and a 55% rise&nbsp;in Q4 overall, making this&nbsp;year almost as profitable&nbsp;as the last quarter of&nbsp;2023.
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As per the report, Exchange-Traded Funds (ETFs) have played a pivotal&nbsp;role, absorbing over 90% of&nbsp;sell-side pressure from Long-Term Holders. 
The U.S. ETFs recorded their most successful week&#8217;s inflows since their inception&nbsp;in the five trading days&nbsp;through Nov. 22. Total assets&nbsp;under management now exceed $100 billion.
Why It Matters: The bullish forecast for Bitcoin comes at a time when the cryptocurrency market is experiencing unprecedented growth. 
The potential for Bitcoin to reach these high price points is indicative of the increasing acceptance and adoption of cryptocurrencies. 
ETFs, in particular, have been instrumental in driving this growth, providing a more accessible and regulated means for investors to gain exposure to Bitcoin. 
As more investors turn to Bitcoin as a store of value and hedge against inflation, the upward trajectory of its price is likely to continue.
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Image: Shutterstock

Bitcoin's Bull Run: Betting On A $125K Finish To 2024

Retirement savings plans like IRAs and 401(k)s are often promoted as key tools for securing <a href="https://www.benzinga.com/personal-finance/24/11/41918104/are-you-on-track-to-retire-rich-heres-the-nest-egg-you-need-to-be-considered-a-wealthy-retiree">financial stability in retirement</a>. However, new findings from the Employee Benefit Research Institute (EBRI) reveal that these accounts play a surprisingly limited role in retirees&#8217; overall income.
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The 2024 EBRI Spending in Retirement Survey, conducted among 3,600 American retirees aged 62 to 75, offers fresh insights into the income landscape for this demographic.&nbsp;
According to the study, IRAs provide income for 20% of retirees, while 401(k)-style workplace retirement plans are an income source for 17%. However, these plans&#8217; contribution to total income is modest. On average, IRAs account for 10% of retirees' income and 401(k)-like plans contribute 15%.
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<h2 class="wp-block-heading">Retirement Income Sources</h2>
IRAs and 401(k)s are just one part of the complex retirement income picture. The relatively small contribution these funds make to total retirement income demonstrates the importance of other income sources in retirement.&nbsp;
<a href="https://www.benzinga.com/personal-finance/24/11/41882904/think-youll-get-full-social-security-missing-this-35-year-window-could-cost-you-thousands">Social Security</a> is a critical income source for many retirees, with nearly 92% of those aged 65 and older receiving benefits from this program, according to Federal Reserve data. Other sources of retirement income from this data include (with the percentage of retirees that have that income source):
<ul>
<li>Pensions (56%)</li>
<li>Interest, dividends or rental income (42%)</li>
<li>Wages, salaries or self-employment (32%)</li>
<li>Cash transfers, other than Social Security (9%)</li>
</ul>
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<h2 class="wp-block-heading">Income Versus Expenses</h2>
Retirees face financial challenges when their income doesn't align with their expenses. The Motley Fool reports that the median annual income for <a href="https://www.benzinga.com/personal-finance/24/10/41185972/is-65-too-early-to-retire-new-research-says-it-might-be-45-of-households-are-expected-to-run-out">Americans aged 65 and older</a> is $50,290, while their average annual expenditures are about $57,818.
The average Social Security check is close to $1,900, often only replacing about 40% of the beneficiary's preretirement income. Retirees primarily relying on this income source have a substantial gap to fill. Financial experts recommend having a goal of saving or finding enough retirement income sources to replace 70-80% of your preretirement income, meaning Social Security alone won't be enough.&nbsp;
Trending: Many are using this retirement income calculator to check if they&#8217;re on pace —<a href="https://www.benzinga.com/money/how-do-i-calculate-my-retirement-income-adv"> here&#8217;s a breakdown on how on what&#8217;s behind this formula.</a>
<h2 class="wp-block-heading">What Limited Savings Mean for Retirees</h2>
The small role that IRAs and 401(k)s play in <a href="https://www.benzinga.com/personal-finance/24/11/42070971/suze-orman-warns-3-million-isnt-enough-for-retirement-even-at-a-mere-3-withdrawal-rate-she-says-you-need-10-million-or-more">retirement income</a> can lead to financial struggles for many older Americans. According to the National Council on Aging, nearly 45% of people aged 60 and up have trouble covering basic expenses. Pew Research estimates that by 2040, about 32.6 million retirement-age households will have yearly incomes below $75,000. On average, those households will face a $7,050 gap between their income and needs.
While IRAs and 401(k)s are great tools for growing savings and offering tax advantages, they're not always enough to carry you through retirement on their own.
For those nearing retirement, now is a good time to review your financial plan and consider where your income will come from. A <a href="https://www.benzinga.com/money/best-online-financial-advisors">financial advisor</a> can help you review and plan for a comfortable retirement.&nbsp;
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New Findings Show IRAs And 401(k)s Contribute Less Than 20% Of Retirees' Income

Amazon.com Inc. stands as a $2 trillion retail giant today, but its survival was in serious jeopardy back in 2001. After the dot-com bubble burst, Amazon's stock plummeted 90%, leading many critics to predict its demise. 
However, founder Jeff Bezos reversed the company's fortunes with help from a surprising source: Costco Wholesale Corp. founder Jim Sinegal.
In 2001, Bezos met with Sinegal over coffee at a Starbucks inside a Barnes &amp; Noble near Amazon's Bellevue, Washington offices, as detailed in the book "The Everything Store" by journalist Brad Stone.
Initially, Bezos sought to discuss sourcing products from Costco, but the conversation shifted to pricing strategies that would ultimately shape Amazon's future, <a href="https://www.cnbc.com/2024/11/17/jeff-bezos-costco-founder-coffee-meeting-helped-revive-amazon.html">reports</a> CNBC.
Sinegal shared Costco's core principle: "value trumps everything." He explained how the retailer kept prices "dirt cheap" by cutting unnecessary costs and building strong supplier relationships. Costco's low prices, he said, reinforced the value of its annual membership, which accounted for much of its profitability.
"The membership fee is a one-time pain, but it's reinforced every time customers walk in and see forty-seven-inch televisions that are two hundred dollars less than anyplace else," Sinegal reportedly told Bezos, and as quoted by Stone. 
Also Read: <a href="https://www.benzinga.com/news/24/10/41196792/jeff-bezos-swears-by-this-one-hour-rule-for-success-now-neuroscience-backs-it-up">Jeff Bezos Swears By This One-Hour Rule For Success — Now Neuroscience Backs It Up</a>
Inspired by this, Bezos quickly called a meeting at Amazon to address the company's "incoherent" pricing strategy. By that summer, Amazon began cutting prices on flagship products like books, music, and videos, offering discounts of up to 30%. Bezos famously declared, "There are two kinds of companies: Those that work to raise prices and those that work to lower them. We'll always be the second."
The strategy paid off. By the end of 2001, Amazon posted its first profitable quarter, a turnaround Bezos credited to lower prices and cost-cutting measures. 
In 2005, Amazon launched its membership program, Prime, echoing Costco's model by offering discounted prices and free shipping to paying members. Bezos later described Prime as offering such good value that "you'd be irresponsible not to be a member."
Today, Amazon's approach to pricing and memberships, rooted in the lessons of that pivotal 2001 meeting, continues to underpin its global success.
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This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Success Stories

Costco Founder's Chat With Bezos Over Coffee Helped Save Amazon

Billionaire entrepreneur and investor Mark Cuban recently divulged his top strategies for successful negotiation, emphasizing the significance of patience and the <a href="https://www.benzinga.com/news/24/10/41196856/heres-how-mark-cubans-drunken-splurge-of-125-000-turned-into-a-profitable-investment">willingness to compromise</a>.
What Happened: Cuban shared that the most effective negotiators he has collaborated with demonstrate a readiness to compromise and exhibit patience, keeping their end goals in sight. 
He stressed that it isn&#8217;t necessary to emerge victorious on every point of a deal, and that conceding on some aspects to finalize the deal is perfectly acceptable.
Speaking <a href="https://www.cnbc.com/2024/10/26/mark-cuban-top-strategies-best-negotiators-use-to-succeed.html">with</a> CNBC, Cuban said, &#8220;Expert dealmakers know not to rush or nitpick when bargaining. One: They're patient because they know what they're trying to accomplish. Two: They don't try to win every deal point. It's OK to give something in order to get the deal done."
As a judge on ABC&#8217;s &#8220;Shark Tank&#8221;, Cuban often employs a strategy of patient silence, enabling him to gather information before proposing investment offers. 
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He asserts that active listening is a key component in negotiations, stating,&nbsp;&#8220;The more you pay attention&nbsp;and the more aware you&nbsp;are, the better opportunity you&nbsp;have to get what you&nbsp;want. Silence is money.&#8221;
In a particular &#8220;Shark Tank&#8221; episode, Cuban demonstrated his strategic patience by initially rejecting an investment offer, only to later join the bidding war and secure a deal. 
However, Cuban also confessed that he occasionally deviates from his usual approach, as evidenced by his immediate acquisition of the NBA&#8217;s Dallas Mavericks in 2000 without any negotiation.
"It was all about fun. That was like a dream, I didn't even negotiate, I was just like, ‘Yes, whatever,&#8221; Cuban said in a podcast before. 
Why It Matters: Mark Cuban&#8217;s negotiation strategies provide valuable insights for entrepreneurs and investors alike. 
His emphasis on patience, compromise, and active listening highlights the importance of these qualities in successful deal-making. 
Cuban&#8217;s approach, as demonstrated in his role on &#8220;Shark Tank&#8221; and his acquisition of the Dallas Mavericks, underscores the fact that flexibility and adaptability are also crucial in negotiations.
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This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Mark Cuban's For Negotiation Success: 'Silence Is Money'

A well-known crypto analyst who accurately predicted the market collapse of 2022 is now cautioning that Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) may be <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41869087/kiyosaki-aims-to-own-100-bitcoins-by-2025-i-wish-bitcoin-was-back-to-10-a-coin-but-wishing-has-never-made-poor-people-richer">nearing a local top</a>.
What Happened: Pseudonymous analyst Capo believes that certain indicators suggest Bitcoin could face a pullback in the near future. The analyst, recognized for their precise market calls, has shared their concerns about Bitcoin's current trajectory. 
In a recent <a href="https://t.me/CryptoCapoTG/933">post</a> on Telegram, the crypto expert pointed to factors like overextended bullish sentiment and waning momentum as signs that a correction might be imminent.
Bitcoin has recently experienced a significant recovery, climbing past $37,000 after a prolonged bear market. However, the analyst warns that the asset's strong rally could be losing steam, leaving it vulnerable to short-term declines. Capo argues that traders should exercise caution and prepare for potential volatility.
"I'm still out of the market for a few weeks now. At this point, it doesn't matter if Bitcoin reaches $98,000, $99,000, or if it goes above $100,000. The local top could occur at any moment, and this movement could be fully retraced," Capo said in the post. 
Capo outlines several reasons for his belief that a market correction is likely, including the fact that pro-crypto U.S. President-elect Donald Trump won't assume office until January 20th.
Capo shared some of the reasons why he is being cautious about the Bitcoin move. 
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&#8220;Sentiment is extremely bullish here. Retail is piling in massively, aping into memecoins. The memecoin rally feels overextended, and that's unhealthy. A strong correction is overdue, and it will likely affect the entire market. Trump is still not in power. The Democrats are still governing the country, and despite saying the transfer of power would be ‘smooth and in a peaceful way,' they are already trying to provoke a big war. In my view, this is a desperate attempt to apply the martial law or/and leave Trump in a complicated position,&#8221; Capo said in the post. 
Capo added, &#8220;Also, the US government holds 208,109 BTC (currently $20.15 billion). They recently got approval to sell the Silk Road Bitcoin, likely through auctions or gradual sales. Honestly, it wouldn't be surprising if they timed it to tank BTC prices and make the next administration look bad – or just to make sure they don't leave those BTC behind for them to use.&#8221;
&#8220;Many altcoins are showing weakness and testing major levels as resistance. It's mostly a BTC and memecoins run, which is never a good sign. Not ruling out a few final altcoins pumps, but if my thesis is right, they could dump 60-80% over the next few weeks," the analyst concluded. 
Why It Matters: Despite the cautionary outlook, Bitcoin remains a dominant force in the cryptocurrency market, with proponents pointing to its long-term potential as a hedge against inflation and economic uncertainty. Institutional adoption and favorable regulatory developments continue to support the broader bullish case.
For investors, this latest warning serves as a reminder of the inherent volatility in the crypto market. While Bitcoin has defied expectations before, understanding market dynamics and being prepared for fluctuations is essential for navigating the space.
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This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Crypto Expert Who Called 2022 Market Crash Warns About Bitcoin

Elon Musk&#8216;s net worth has reached an unprecedented $347.8 billion. This significant increase in wealth is attributed to a surge in the stock of Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) and a successful funding round for his AI startup, xAI.
What Happened:&nbsp;Musk&#8217;s wealth has seen a substantial increase due&nbsp;to a 3.8% jump in&nbsp;Tesla stock&nbsp;and a new funding round&nbsp;for xAI, which now values the startup at $50 billion. 
This has led to Musk surpassing his previous wealth record of $340.4 billion set in 2021.
The Insider reports that <a href="https://www.businessinsider.com/elon-musk-net-worth-wealth-tesla-stock-trump-election-ev-2024-11">the </a>net worth of the Tesla and SpaceX CEO has increased&nbsp;by an unmatched $117.8 billion&nbsp;this year, placing him over&nbsp;$128 billion ahead of the&nbsp;second richest person, Amazon founder Jeff Bezos. Tesla&#8217;s stock has seen a surge following&nbsp;Donald Trump&#8216;s victory in the&nbsp;U.S. presidential election, closing on Friday at $352.56.
Mark Malek, the chief investment officer at Siebert, suggested that the stock&#8217;s increase is partly due to Musk&#8217;s public involvement in Trump&#8217;s campaign.
Also Read: <a href="https://www.benzinga.com/general/social-media/24/11/42152918/i-knew-if-i-bought-a-sink-what-does-elon-musks-cryptic-tweet-mean">&#8220;I Knew If I Bought a Sink&#8221;: What Does Elon Musk&#8217;s Cryptic Tweet Mean?</a>
Musk&#8217;s 13% stake in Tesla has also seen a significant increase in value, with his personal fortune now exceeding Salesforce&#8217;s $327 billion.
Why It Matters: The surge in Musk&#8217;s wealth highlights the growing influence of tech entrepreneurs in the global economy. 
Musk&#8217;s companies, Tesla and SpaceX, have been at the forefront of technological innovation, driving advancements in electric vehicles and space travel. 
The successful funding round for xAI, Musk&#8217;s AI startup, also underscores the increasing importance of artificial intelligence in various sectors. 
This record-breaking increase in Musk&#8217;s wealth is a testament to the significant role these tech giants play in shaping the future of our world.
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This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image: Shutterstock

TSLA

Musk's Net Worth Tops One-Third of a Trillion Dollars

New data from Realtor.com shows a partisan divide in housing market sentiment after<a href="https://www.benzinga.com/economics/macro-economic-events/24/11/42027218/could-trumps-housing-plans-reshape-the-real-estate-market"> Donald Trump&#8217;s presidential election victory</a>. Republicans have increased optimism, while Democrats are hesitant about home-buying plans.
Morning Consult&#8217;s survey in early November found that roughly 20% of Republicans report being more likely to purchase a home due to the election outcome. In contrast, nearly a quarter of Democrats indicate they&#8217;re now less likely to enter the housing market in the coming year.
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Independent voters remained largely unmoved by the election results, with 74% reporting no change in their home-buying intentions. The contrasting sentiments align with Trump&#8217;s proposed housing policies. Real estate experts anticipate market changes under his leadership, particularly around interest rates and development regulations. His platform, <a href="https://www.benzinga.com/real-estate/24/11/41968915/will-trumps-second-term-unlock-housing-lower-rates-more-development-on-the-table-experts-say">announced before the election</a>, called for removing construction barriers, including regulations that currently add over $90,000 to new home prices and for opening federal lands for housing development.
&#8220;Many in the real estate business are elated with a Trump victory and if the administration can live up to its campaign promises, rightfully so,&#8221; said Alex Beene, financial literacy instructor at the University of Tennessee at Martin. &#8220;For months, he has been advocating for lower interest rates, which have become one of the most significant barriers to homeownership in the post-pandemic years.&#8221;
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However, Realtor.com Chief Economist Danielle Hale said the proposals present opportunities and challenges. While supply-side policies might boost housing inventory, proposed immigration restrictions could affect construction labor. Census Bureau data shows that up to one-third of residential construction relies on foreign-born workers. The survey polled 2,201 adults nationwide and highlighted demographic variations in housing market confidence.
Male respondents showed notably higher optimism, with 18% indicating an increased likelihood to buy compared to 10% of women. Generation Z emerged as the most optimistic age group, with 22% reporting enhanced home-buying prospects, followed by millennials at 19%, Generation X at 12% and baby boomers at 6%.
Economic outlook drives the responses. Republicans who expressed increased interest in home buying cited anticipated improvements in economic conditions and confidence in the new administration.&nbsp;
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Democrats who expressed decreased home-buying interest pointed to economic concerns. &#8220;There is a very real possibility that the economy will tank and having my own home will be impossible,&#8221; one participant stated. Others specifically mentioned worries about inflation and tariff policies.
The housing sentiment split mirrors broader economic confidence trends. Morning Consult data cited by Realtor shows Republican consumer sentiment surged nearly 30% postelection, while Democratic sentiment declined 13% during the same period.
Current homeowners across party lines reported minimal impact on their selling intentions, though Democrats showed a slightly higher tendency to delay selling plans.
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Real Estate

24% Of Democrats Say Trump's Election Made Them Less Likely To Buy A Home

A market analyst says Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>) could experience a massive rally, predicting gains exceeding 2,000%.
What Happened: The forecast has sparked excitement among the cryptocurrency's community as SHIB continues to gain traction as a leading meme coin.
Crypto analyst Austin Hilton, known for his bold predictions, shared his thoughts in a <a href="https://www.youtube.com/watch?v=f_vGuPm_7FQ">post</a> on YouTube and suggested that favorable market conditions and strategic developments could push SHIB into a significant uptrend.
Hilton highlighted key catalysts, such as increased adoption and potential ecosystem upgrades, as reasons behind the bullish outlook.
Shiba Inu has already seen remarkable growth since its inception, fueled by its vibrant community and utility within the Shiba ecosystem, including decentralized exchanges and NFT marketplaces. The recent prediction has added momentum to the ongoing discussions about SHIB's long-term potential.
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At the time of writing, SHIB was trading at $0.00002478, down by 4% in the last 24 hours. 
Despite its current price hovering at fractions of a cent, the analyst believes that strategic milestones could propel SHIB's value. These include the expansion of ShibaSwap, further token burns to reduce supply, and adoption by mainstream businesses for payments.
However, experts have cautioned that such exponential growth is not guaranteed and remains highly speculative. The cryptocurrency market's volatility and reliance on broader economic conditions mean that predictions should be approached with caution. Investors are advised to conduct thorough research and assess risks before making decisions.
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This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

$SHIB

Crypto Analyst Sees Shiba Inu Surging More Than 2,000% In Coming Rally

Retired seniors in Nebraska recently posed a financial dilemma to <a href="https://www.benzinga.com/personal-finance/24/11/42024498/it-sounds-like-a-relationship-issue-ramsey-show-hosts-on-fathers-100k-paycut-and-3000-mile-move">The Ramsey Show hosts</a> Rachel Cruze and George Kamel: Should they withdraw funds from their IRA to buy a house outright or use monthly distributions to manage a mortgage?&nbsp;
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The couple, with an annual income of $125,000 from <a href="https://www.benzinga.com/personal-finance/24/10/41210847/do-former-u-s-presidents-really-collect-social-security-the-surprising-truth-about-their-retirem">Social Security and pensions</a>, has $200,000 in cash savings and over $500,000 in IRAs. Their goal is to purchase a $450,000 home and they're seeking advice from The Ramsey Show to help them determine the best option for their financial stability.
Kamel started by breaking down the couple's options.
He noted that the $200,000 cash would be a "serious down payment," which would be helpful; however, using their IRA to cover the balance in full would deplete a large portion of their retirement savings. "So they would have to live off of Social Security and pensions for the rest of their life."
Cruze added that the couple's income of $125,000 is above average, providing a solid foundation if they did decide to purchase the home outright from IRA funds. Ultimately, the hosts suggested <a href="https://www.benzinga.com/personal-finance/24/09/40754039/68-year-old-is-told-to-take-out-a-bigger-mortgage-for-bills-rather-than-tap-into-401-k-suze-orma">taking out a mortgage</a> might be the best option.
Kamel commented that the couple is already paying rent, implying they could handle a mortgage just fine now. "If times get tough, they have the money," he added. "And they could leave the money invested, let it continue to grow."
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Another perspective the hosts offered is that the couple could consider downsizing and purchasing something smaller than a $450,000 home if they didn't need a house with more than 1-2 bedrooms. That would allow them to pay the home off quicker and potentially immediately without tapping too much into their retirement accounts.&nbsp;
The median home price in Nebraska is $289,200 – substantially less than the $450,000 home being considered by this Nebraska couple.
This couple's situation reflects broader trends in home buying among retirees. According to the National Association of Realtors, baby boomers, who often purchase to downsize or relocate closer to family, represent a significant share of homebuyers. Additionally, retirees often prioritize maintaining liquidity and minimizing debt, aligning with Cruze and Kamel's advice to avoid fully depleting retirement accounts.
While there isn't a one-size-fits-all answer, the couple has several options. Whether they choose to buy their $450,000 dream home with a mix of cash and a mortgage or downsize to a smaller property, Cruze and Kamel advise that their focus should remain on maintaining financial security and minimizing future debt.&nbsp;
If you're in a similar situation and considering purchasing a retirement home, try speaking with a trusted <a href="https://www.benzinga.com/money/best-online-financial-advisors">financial advisor</a>. They can help you understand your current financial situation and create a plan for buying a home that aligns with your long-term financial goals.&nbsp;
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Retired Nebraska Couple Asks Ramsey Show Hosts: 'Should We Tap IRA For A House Or Use Monthly Distributions For The Mortgage?'

In a recent poll, more than half of Americans expressed their support for the plans and policies of President-elect Donald Trump as he <a href="https://www.benzinga.com/economics/macro-economic-events/24/11/42027218/could-trumps-housing-plans-reshape-the-real-estate-market">gears up for his second term</a>.
What Happened: A Pew Research Center <a href="https://www.pewresearch.org/politics/2024/11/22/public-narrowly-approves-of-trumps-plans-most-are-skeptical-he-will-unify-the-country/">poll</a> found that 53% of Americans are in favor of Trump&#8217;s agenda for his forthcoming term, which starts in less than two months. The poll showed a 46% disapproval rate for his plans.
The results fell along party lines, with 88% of Republicans and Republican-leaning independents backing Trump&#8217;s agenda, while 82% of Democrats and Democratic-leaning individuals expressed disapproval.
Close to 60% of the respondents expressed confidence in Trump&#8217;s capability to make sound economic decisions. A majority of Americans also demonstrated confidence in Trump&#8217;s approach&nbsp;to law enforcement and criminal&nbsp;justice (54%), immigration (53%), and foreign policy (53%).
Post-election sentiments towards Trump have soared to an all-time high, with 43% offering him a &#8220;warm&#8221; or &#8220;very warm&#8221; rating on Pew&#8217;s &#8220;feeling thermometer.&#8221; This marks a notable increase from his 34% warm rating following the 2020 election.
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However, only 31% of respondents characterized Trump&#8217;s post-election unification efforts as &#8220;good&#8221; or &#8220;excellent.&#8221; Moreover, a mere 14% anticipate an improvement in partisan relations during Trump&#8217;s second term.
The poll was conducted from November 12 to 17, surveying 9,609 adults across the nation.
Why It Matters:&nbsp;The poll results provide a snapshot of the nation&#8217;s sentiment towards Trump&#8217;s second-term agenda. The data shows a clear partisan divide, reflecting the ongoing political polarization in the country. 
The high approval ratings for Trump&#8217;s economic decisions and approaches to law enforcement, immigration, and foreign policy indicate the areas where Americans have the most confidence in the President-elect. 
However, the low expectations for improved partisan relations and Trump&#8217;s unification efforts highlight the challenges that lie ahead in his second term.
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This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Politics

Majority of Americans Approve of Trump's Second-Term Agenda

Given Organogenesis's (ORGO) upbeat first-quarter results and promising development of its ReNu program for knee osteoarthritis, the company seems to be on the brink of significant growth. Let's delve into its fundamentals to determine whether it's a hidden gem in the biotech sector. Read more to find out… Leading wound care specialist Organogenesis Holdings Inc. (<a href="https://stocknews.com/stock/ORGO/">ORGO</a>) surpassed Wall Street's expectations in the first quarter of fiscal 2024. The company reported revenue of $109.98 million, well above the analysts' estimate of $100.23 million. This figure also outpaced their guidance, which projected revenue between $98 million and $104 million, driven by a surge in momentum from February into March.
Building on the momentum, Organogenesis forecasts positive growth for the year ending December 31, 2024. The company expects net revenue to range between $445 million and $470 million, marking a year-over-year increase of 3% to 9% compared to the $433.1 million reported for 2023. However, the profitability outlook is mixed, with expected adjusted <a href="https://www.investopedia.com/terms/n/netincome.asp">net income</a> (loss) ranging from ($8.1) million to $7.1 million and adjusted EBITDA between $15.8 million and $35.0 million.
While revenue growth is strong, Organogenesis has been experiencing an unsettling string of earnings contractions, which could pose a challenge in the near term. ORGO's net loss per share was $0.02, compared to the consensus estimate of 0.03.
Shares of ORGO have gained 1.5% over the past month to close the last trading session at $2.70. However, the stock has plunged 21.9% over the past year and 33.7% year-to-date.
Let's look at factors that could influence ORGO's performance in the upcoming months.
Promising Progress in ReNu Phase III Clinical Trials
Organogenesis has made notable progress with its ReNu program, which aims to manage knee osteoarthritis (OA) symptoms. Recently, the company shared<a href="https://investors.organogenesis.com/news-releases/news-release-details/organogenesis-achieves-primary-endpoint-phase-3-clinical-trial"> positive top-line results</a> from its first Phase III clinical trial, achieving the primary endpoint with a p-value of 0.0177. The trial demonstrated a significant reduction in knee OA pain over six months compared to a saline control group.
By 2027, an estimated 34.4 million Americans will be affected by knee OA. ReNu could offer a non-surgical pain management option, particularly for the most severe cases, representing around 5 million people. If approved, ReNu would be the only FDA-approved biologic intra-articular injection for this purpose, marking a significant advancement in the treatment of knee OA.
Mixed Financial Performance
For the first quarter that ended March 31, 2024, ORGO's net revenues increased 2.2% year-over-year to $109.98 million. Revenue from Advanced Wound Care rose 3% from the prior year to $103.9 million, while the net revenue for Surgical and Sports Medicine products was $6.1 million, down 9% year-over-year. Its gross profit grew marginally from the year-ago value to $81.28 million.
ORGO's loss from operations narrowed 3.7% from the previous year's quarter to $3.85 million. The company's net loss came in at $2.10 million compared to $2.97 million last year, while its net loss per share remained flat year-over-year at $0.02. However, ORGO recorded an adjusted EBITDA of $2.55 million in the same quarter.
As of March 31, 2024, Organogenesis' cash and cash equivalents stood at $88.63 million, compared to $103.84 million as of December 31, 2023.
Mixed Analyst Estimates
Analysts expect ORGO's EPS to increase 5.7% year-over-year to $114.73 million for the third quarter ending September 2024. For the fiscal year ending December 2024, its revenue is expected to reach $453.76 million, registering a year-over-year growth of 4.8%.
However, the company is estimated to post a loss per share of $0.01 in the current quarter and remain negative for the fiscal year 2024. Nonetheless, ORGO has an impressive earnings surprise history, surpassing the consensus EPS estimates in three of the trailing four quarters.
Discounted Valuation
In terms of forward EV/Sales, ORGO is trading at 0.88x, which is 74.2% lower than the industry average of 3.42x. Similarly, the stock's forward Price/Sales multiple of 0.82 is 76.9% lower than the industry average of 3.54x. Additionally, the stock's 2.64x forward Price/Book is 1.2% below the industry average of 2.67x.
POWR Ratings Reflect Uncertainty
ORGO's mixed fundamentals are reflected in its <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a>. The stock has an overall rating of C, which translates to Neutral in our proprietary rating system. The POWR Ratings are calculated by taking into account 118 different factors, with each factor weighted to an optimal degree.
Our proprietary rating system also evaluates each stock based on eight distinct categories. ORGO has an A grade in Value, which aligns with its lower-than-industry valuation. However, with a five-year beta of 1.66, the stock has earned a grade C for Stability.
Within the <a href="https://stocknews.com/category/biotech/">Biotech</a> industry, ORGO is ranked #47 out of 342 stocks.
Beyond what I have stated above, we have also given ORGO grades for Growth, Momentum, Sentiment, and Quality. Get all ORGO ratings <a href="https://stocknews.com/stock/ORGO/">here</a>.
Bottom Line
Organogenesis is an anomaly among small biotechs, achieving modest revenues despite inconsistent earnings and a promising catalyst in ReNu. However, this inconsistency in earnings has proven to be a significant stumbling block. While optimism about its long-term potential is contingent upon securing FDA approval for ReNu, recent mixed financial performance and an uncertain near-term outlook raise concerns.
Given these uncertainties and the volatility typically associated with biotech investments, waiting for a better entry point in this stock seems wise now.
How Does Organogenesis Holdings Inc. (ORGO) Stack Up Against Its Peers?
Given its near-term uncertain prospects, the odds of ORGO outperforming in the weeks and months ahead are compromised. However, there are many industry peers with much more impressive POWR Ratings. So, consider these three A (Strong Buy) stocks from the <a href="https://stocknews.com/category/biotech/">Biotech</a> industry: Gilead Sciences, Inc. (<a href="https://stocknews.com/stock/GILD/">GILD</a>), Nippon Shinyaku Co., Ltd. (<a href="https://stocknews.com/stock/NPPNY/">NPPNY</a>), and Sino Biopharmaceutical Limited (<a href="https://stocknews.com/stock/SBHMY/">SBHMY</a>).
To explore more A and B-rated biotech stocks, <a href="https://stocknews.com/category/biotech/">click here</a>.
What To Do Next?
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ORGO shares were trading at $2.74 per share on Monday afternoon, down $0.06 (-2.14%). Year-to-date, ORGO has declined -33.01%, versus a 15.51% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Shweta Kumari</h2> <img src='https:/wp-content/uploads/2022/03/Shweta-Kumari_Image-2.jpg' style="float:left; padding:5px;width:125px;">Shweta's profound interest in financial research and quantitative analysis led her to pursue a career as an investment analyst. She uses her knowledge to help retail investors make educated investment decisions.<a href="https://stocknews.com/authors/?author=shweta-kumari">More...</a>The post <a href=https://stocknews.com/news/orgo-gild-nppny-sbhmy-is-organogenesis-a-hidden-gem-in-the-biotech-sector/>Is Organogenesis a Hidden Gem in the Biotech Sector?</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

Is Organogenesis a Hidden Gem in the Biotech Sector?

Veracyte (VCYT) exceeded Wall Street's expectations in its first-quarter earnings report and is well-positioned to capitalize on the expanding genomic diagnostics market. However, with its stretched valuation and increased volatility, is VCYT a smart investment? Read on to find out… Genetic testing, a critical medical procedure, identifies alterations in genes, chromosomes, or proteins to confirm or rule out genetic conditions and assess an individual's risk of developing or passing on such disorders. This market is booming, with the global genetic testing market projected to grow from $8.84 billion in 2023 to an estimated <a href="https://www.biospace.com/article/releases/genetic-testing-market-size-to-set-usd-64-73-billion-by-2033/">$64.73 billion by 2033</a>, driven by technological advancements, increased awareness, and expanding applications. The U.S. genomics market alone is set to reach around $43.81 billion by 2032, growing at a <a href="https://www.precedenceresearch.com/genomics-market#:~:text=The%20U.S.%20genomics%20market%20size,the%20Middle%20East%2C%20and%20Africa.">CAGR of 19.4%</a>.
Thus, it could be opportune to invest in fundamentally sound biotech stocks. Let's determine whether investors should place their bets on Veracyte, Inc. (<a href="https://stocknews.com/stock/VCYT/">VCYT</a>) in genomic diagnostics.
VCYT is a leading diagnostics company that aims to revolutionize cancer care globally through innovative diagnostics. By leveraging a powerful platform of genomic data, bioinformatics, and AI, Veracyte provides clinicians with vital insights needed for accurate cancer diagnosis and treatment guidance.
The company's first-quarter earnings for 2024 painted a promising picture, with revenue of $96.84 million, exceeding Wall Street expectations of $93.36 million. Its test volume rose by 16% year-over-year to 33,424.
One of Veracyte's significant achievements is the Decipher Prostate Genomic Classifier, which received top-tier recognition in the updated NCCN prostate cancer guidelines. Additionally, VCYT's acquisition of C2i Genomics has broadened its capabilities into minimal residual disease (MRD) testing, marking a significant expansion in its product offerings.
Marc Stapley, Veracyte's CEO, said, "We had a strong start to 2024, driven by robust growth from our market-leading Decipher Prostate and Afirma tests. We executed upon our strategies to further penetrate these markets by expanding our clinical evidence, and, for Decipher, securing enhanced status in guidelines while also achieving a key commercial reimbursement milestone."
Looking ahead, VCYT has raised its full-year 2024 revenue guidance to $402 million to $410 million, representing a year-over-year growth of 11% to 14% and testing growth of 15% to 18%. This optimism is supported by their expectations of ending the year with cash, cash equivalents, and short-term investments ranging from $236 million to $240 million.
Despite these advancements, shares of VCYT have plunged 17.4% over the past six months and 21.9% year-to-date to close the last trading session at $21.47. However, the stock has shown a recent uptick, gaining 4.1% over the past three months.
Let's look at factors that could influence VCYT's performance in the upcoming months.
Mixed Financial Performance
For the first quarter that ended March 31, 2024, VCYT's total revenue increased 17.5% year-over-year to $96.84 million. The company's testing revenue increased by 25% to $90.30 million, up from $72.40 million in the same period last year, primarily driven by the strong performance of the Decipher Prostate and Afirma tests. 
Its non-GAAP income from operations came in at $3.83 million, compared to the prior-year quarter's loss of $1.75 million. The quarter's <a href="https://www.investopedia.com/terms/n/netloss.asp">net loss</a> narrowed 76.9% and 81.8% year-over-year to $1.86 million and $0.02 per share, respectively.
However, VCVY's net cash used in operating activities for the quarter increased to $8.97 million from the year-ago value of $2.17 million. Additionally, as of March 31, 2024, VCYT's cash and cash equivalents stood at $209.19 million, compared to $216.45 million as of December 31, 2023.
Mixed Analyst Expectations
Analysts expect VCYT's revenue for the second quarter (ended June 2024) to grow 10.7% year-over-year to $99.99 million. However, the company is expected to post a loss per share of $0.01 in the same quarter.
Similarly, for the ongoing quarter (ending September 2024), VCYT's revenue is expected to increase 12% year-over-year to $100.95 million. On the contrary, its loss per share for the quarter is estimated to be $0.03.
Nonetheless, for the fiscal year ending December 2024, Street expects VCYT's revenue to grow 12.3% from the prior year to $405.60 million, while its EPS is expected to be $0.01.
Stretched Valuation
In terms of forward non-GAAP P/E, VCYT is trading at 1717.60x, significantly higher than the industry average of 18.81x. The stock's forward EV/Sales and Price/Sales multiples of 3.57 and 4.05 are 8.2% and 14.3% above the respective industry averages of 3.30 and 3.54.
Likewise, its forward EV/EBITDA of 50.88x is 297.6% higher than the industry average of 12.80x. Moreover, the stock's forward Price/Cash Flow ratio of 93.35x compares to the industry average of 14.94x.
Mixed Profitability
VCYT's trailing-12-month gross profit margin of 67.69% is 17.7% higher than the 57.48% industry average. Also, the stock's trailing-12-month levered FCF margin of 9.75% is considerably higher than the industry average of 1.26%.
However, its trailing-12-month asset turnover ratio of 0.32x is 21.6% lower than the industry average of 0.41x. Likewise, the stock's trailing-12-month EBITDA margin of 5.25% is 9.6% lower than the industry average of 5.81%.
POWR Ratings Reflect Uncertainty
VCYT's mixed fundamentals are reflected in its <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a>. The stock has an overall rating of C, which translates to Neutral in our proprietary rating system. The POWR Ratings are calculated by taking into account 118 different factors, with each factor weighted to an optimal degree.
Our proprietary rating system also evaluates each stock based on eight distinct categories. VCYT has a C grade for Sentiment, which is consistent with mixed analyst estimates.
The stock also has a C grade for Quality, justified by its mixed profitability. Moreover, with a five-year beta of 1.64, the stock has earned a grade C for Stability.
Within the <a href="https://stocknews.com/category/biotech/">Biotech</a> industry, VCYT is ranked #60 out of 336 stocks.
Beyond what I have stated above, we have also given VCYT grades for Value, Momentum, and Quality. Get all VCYT ratings <a href="https://stocknews.com/stock/VCYT/">here</a>.
Bottom Line
VCYT exceeded analysts' revenue and earnings estimates in the first quarter of 2024, buoyed by strategic market expansion and robust clinical advancements. Despite significant improvement from the previous year's losses, the company continues to face a negative bottom line.
As Veracyte navigates the dynamic landscape of genomic diagnostics, it's crucial to assess whether its innovative approach and strong market position make it a smart bet for investors looking to capitalize on the growth of genetic testing.
Given VCT's elevated valuation and uncertain near-term outlook, waiting for a better entry point in this stock seems wise now.
How Does Corsair Gaming, Inc. (VCYT) Stack Up Against Its Peers?
While VCYT has an overall grade of C, equating to a Neutral rating, you may check out these A (Strong Buy) rated stocks within the <a href="https://stocknews.com/category/biotech/">Biotech</a> industry: Gilead Sciences, Inc. (<a href="https://stocknews.com/stock/GILD/">GILD</a>), Nippon Shinyaku Co., Ltd. (<a href="https://stocknews.com/stock/NPPNY/">NPPNY</a>), and Sino Biopharmaceutical Limited (<a href="https://stocknews.com/stock/SBHMY/">SBHMY</a>).
To explore more A and B-rated biotech stocks, <a href="https://stocknews.com/category/biotech/">click here</a>.
What To Do Next?
43 year investment veteran, Steve Reitmeister, has just released his 2024 market outlook along with trading plan and top 11 picks for the year ahead.
<a href="https://report.stocknews.com/sign-up/stock-market-outlook-2024/?formplacement=artbotad_smo24_rep">2024 Stock Market Outlook &gt;</a>
 

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VCYT shares were trading at $21.47 per share on Friday afternoon, down $0.00 (0.00%). Year-to-date, VCYT has declined -21.96%, versus a 17.16% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Shweta Kumari</h2> <img src='https:/wp-content/uploads/2022/03/Shweta-Kumari_Image-2.jpg' style="float:left; padding:5px;width:125px;">Shweta's profound interest in financial research and quantitative analysis led her to pursue a career as an investment analyst. She uses her knowledge to help retail investors make educated investment decisions.<a href="https://stocknews.com/authors/?author=shweta-kumari">More...</a>The post <a href=https://stocknews.com/news/vcyt-gild-nppny-sbhmy-is-veracyte-a-smart-bet-in-genomic-diagnostics/>Is Veracyte a Smart Bet in Genomic Diagnostics?</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

Is Veracyte a Smart Bet in Genomic Diagnostics?

Japan's Nippon Shinyaku will acquire European rights for a Duchenne muscular dystrophy disease therapy developed by Capricor Therapeutics of San Diego. Nippon Shinyaku will pay $20 million upfront and up to $715 million in milestones, plus royalties.

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