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Digital World Acquisition Corp (NASDAQ: DWAC) shares plunged 20.1% on Wednesday morning after Republican candidates endorsed by President Donald Trump performed poorly 

Digital World Acquisition Corp Is By Far The Most Shorted SPAC: The Other Top SPACs Short Sellers Are Targeting

OCA ACQUISITION CORP A by OCA Acquisition Corp.

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OCA Acquisition Corp Warrants (14/01/2026)

Alphabet Inc&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Waymo said on Tuesday that it has opened <a href="https://www.benzinga.com/topic/autonomous-vehicles">autonomous rides</a> to everyone in Los Angeles.
What Happened: Waymo commenced commercial operations in Los Angeles earlier this year. However, rides then were limited to the nearly 300,000 riders who signed up to join the company&#8217;s waitlist. The company was adding new riders to the service incrementally.&nbsp;However, it has now scrapped the waitlist altogether.
&#8220;La La Land is now our third city open to all riders, with waitlists removed and more cities on the way,&#8221; the company&#8217;s Chief Product Officer Saswat Panigrahi said in a post on X. 
<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">Fully autonomous <a href="https://twitter.com/Waymo?ref_src=twsrc%5Etfw">@Waymo</a> rides are now available to anyone in Los Angeles – one of the top 5 ride-hailing markets in the US! La La Land is now our third city open to all riders, with waitlists removed and more cities on the way.<a href="https://t.co/VX3vmwVkkx">https://t.co/VX3vmwVkkx</a>
&mdash; Saswat Panigrahi (@saswat101) <a href="https://twitter.com/saswat101/status/1856366782703120513?ref_src=twsrc%5Etfw">November 12, 2024</a></blockquote>
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Riders in Los Angeles can now download the Waymo One app and avail a ride around nearly 80 square miles of LA County.
&#8220;We intend to grow our service area to cover more of the city in the future,&#8221; Waymo said in a statement.
Why It Matters: Los Angeles has now joined <a href="https://www.benzinga.com/news/24/06/39494723/waymo-autonomous-rides-now-available-to-everyone-in-san-francisco-heres-how-you-can-enjoy-driverless">San Francisco</a> and Phoenix as the cities where Waymo One rides are available to everyone.
Waymo currently operates a fleet of all-electric vehicles that have been customized to enable autonomous driving in these cities. The company is delivering over 150,000 paid rides every week to the public, it said in October.
Late last month, Waymo&nbsp;closed an oversubscribed <a href="https://www.benzinga.com/news/24/10/41567166/waymo-closes-5-6b-investment-round-to-expand-robotaxi-operations">investment round of $5.6 billion</a> led by its parent&nbsp;Alphabet&nbsp;to expand its robotaxi service.
<a href="https://www.benzinga.com/news/24/09/40792410/us-autonomous-vehicle-sales-to-hit-230k-by-2034-after-progress-resumes-at-alphabets-waymo-gms-cruise" target="_blank" rel="noreferrer noopener">Waymo is currently the frontrunner&nbsp;</a>in the field of autonomous vehicles in the U.S.&nbsp;While General Motors' Cruise was at par with Waymo until last year, it suspended all of its operations in the U.S. late last year following the involvement of one of its robotaxis in an&nbsp;<a href="https://www.benzinga.com/news/23/10/35052444/self-driving-cruise-car-accident-leaves-pedestrian-trapped-and-injured-in-san-francisco" target="_blank" rel="noreferrer noopener">accident in San Francisco</a>, leading to heightened regulatory scrutiny and the&nbsp;<a href="https://www.benzinga.com/news/24/05/38606510/us-is-currently-sc-ed-ex-cruise-ceo-calls-for-manufacturing-makeover-to-win-over-chinese-auto-rivals" target="_blank" rel="noreferrer noopener">exit of its co-founder&nbsp;</a>and then CEO&nbsp;Kyle Vogt.
Amazon.com&#8217;s Zoox, meanwhile, is testing its <a href="https://www.benzinga.com/24/05/38785340/nhtsa-opens-probe-into-amazons-500-zoox-vehicles-over-sudden-braking-concerns" target="_blank" rel="noreferrer noopener">custom-built robotaxi with no pedals or steering wheel&nbsp;</a>in San Francisco by giving rides to company employees. 
Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/tech/24/11/41894615/tesla-q4-deliveries-expected-to-set-new-records-but-not-enough-to-avoid-yearly-sales-decline-says-researcher" target="_blank" rel="noreferrer noopener">Tesla Q4 Deliveries Expected To Set New Records But Not Enough To Avoid Yearly Sales Decline, Says Researcher</a></li>
</ul>
Photo courtesy: Waymo

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Alphabet's Waymo Opens Robotaxi Rides For All In Los Angeles After San Francisco, Says 'More Cities On The Way'

Financial analyst Yiannis Zourmpanos has predicted that Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) could witness a significant stock rally, potentially reaching $204, following its third-quarter performance. 
What Happened: Jensen Huang&#8216;s company has forecasted third-quarter revenue of approximately $32.5 billion, driven by strong demand for its Hopper and Blackwell GPUs. These GPUs are expected to bolster Nvidia&#8217;s data center segment, which boasts a robust 68% operating margin. The Blackwell units, priced between $30,000 and $40,000, are in high demand, with production ramping up in the fourth quarter of 2024.
Nvidia&#8217;s upcoming earnings report on Nov. 20 is a crucial factor in maintaining its growth momentum.
Zourmpanos highlights that Nvidia&#8217;s growth is fueled by the increasing adoption of AI and data-intensive applications, reinforcing its leadership in the industry, Seeking Alpha <a href="https://seekingalpha.com/article/4736453-nvidia-q3-earnings-could-ignite-200-rally">reported</a> on Wednesday. However, Nvidia faces potential risks from supply chain disruptions, particularly due to its reliance on Super Micro Computer (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>) for AI server components.
See Also: <a href="https://www.benzinga.com/trading-ideas/movers/24/11/41927985/bitcoin-ethereum-consolidate-dogecoin-surges-as-election-rally-takes-a-breather-analyst-says-pullback-typical-for-healthy-market?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin, Ethereum Consolidate, Dogecoin Surges As Election Rally Takes A Breather: Analyst Says Pullback &#8216;Typical&#8217; For Healthy Market</a>
Despite these challenges, Nvidia&#8217;s technical indicators and historical data suggest a bullish trend, with a 77% chance of positive returns in November. The company&#8217;s strategic investments and revenue growth position it for potential long-term value appreciation.
Why It Matters: As Nvidia prepares to release its third-quarter results, analysts are closely watching the company&#8217;s performance. Morgan Stanley analyst Joseph Moore <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41883803/nvidias-blackwell-chip-revenue-could-hit-6-billion-next-quarter-analyst">anticipates a strong quarter</a>, aligning with the Street consensus of 74 cents per share earnings on $32.937 billion in revenue. Despite being supply-constrained, Nvidia is expected to generate significant revenue from its Blackwell chips, potentially between $5 billion and $6 billion in the upcoming quarter.
Furthermore, analysts predict a potential <a href="https://www.benzinga.com/analyst-ratings/price-target/24/11/41916373/nvidia-to-rally-around-14-here-are-10-top-analyst-forecasts-for-tuesday">14% rally for Nvidia</a>, highlighting the company&#8217;s strong market position and growth prospects. This optimism is driven by Nvidia&#8217;s strategic focus on AI and data-intensive applications, which continue to drive demand for its advanced GPUs.
Read Next: 
<ul>
<li><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?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Appoints Elon Musk And Vivek Ramaswamy To Lead &#8216;DOGE,&#8217; Aiming to Slash Bureaucracy And $6.5 Trillion Federal Spending: &#8216;We Will Not Go Gently&#8217;</a></li>
</ul>
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Image via Unsplash

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SMCI

Nvidia Set For Major Surge To $204? Analyst Predicts Post-Q3 Boost Driven By Blackwell GPU Demand, Strong Margins

Reported Earlier, Walker & Dunlop Secures $113M Financing For Bay Area's Franklin 299 Multifamily Acquisition

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Earnings Scheduled For November 13, 2024

<ul>
<li>LTIMindtree will leverage Cisco Secure Access as its new security service edge (SSE) solution to protect its 80,000 hybrid workers with secure internet access, advanced zero trust network access and embedded AI.</li>
<li>Extending its networking partnership with Cisco, LTIMindtree now offers next-generation SSE to its global clients via Cisco Secure Access.</li>
<li>Clients can work jointly with both companies to adopt a broad set of cloud security functions in a single, easy-to-use dashboard with Cisco Secure Access.</li>
</ul>

Reported Earlier, Cisco And LTIMindtree Expand Collaboration To Launch AI-Driven Secure Access For Global Clients

The Company intends to use the net proceeds from the offering for working capital and general corporate purposes.

SIDU

Reported Earlier, Sidus Space Prices $7M Public Offering Of 5.6M Common Shares At $1.25 Each

The expected net proceeds of the offering after expenses are approximately $93.4 million, which are intended to be used for working capital, capital expenditures and other general corporate purposes including acquisitions.
Closing of the offering is expected to occur on November 14, 2024, subject to customary closing conditions. In addition, Grid Dynamics granted the underwriters a 30-day option to purchase up to 862,500 additional shares of its common stock.

GDYN

Reported Earlier, Grid Dynamics Prices $93.4M Public Offering Of 5.75M Common Shares At $17.25/Share

Apple Inc.'s 2024 Mac Mini features powerful M4 and M4 Pro chips in an even smaller, lighter design, <a href="https://www.benzinga.com/news/24/10/41607481/apples-refreshes-mac-mini-smaller-form-factor-m4-chip-power-and-carbon-neutral">starting at $599</a>.
However, while it's Apple's most affordable and capable Mac Mini yet, one quirky design choice is making waves: the power button is on the bottom of the device.
Why Put The Power Button On The Bottom?
Apple's John Ternus and Greg Joswiak explained that the ultra-compact design necessitated placing the power button on the bottom.
They argued that most users won't miss a conveniently placed power button since they can use macOS's shutdown menu.
However, this doesn't sit well with those who take their Mac Mini on the go and need easy access to the button.
See Also: <a href="https://www.benzinga.com/news/24/11/41706934/how-to-master-ios-18s-control-center-tips-to-reset-and-customize-your-iphones-quick-access-hub">How To Master iOS 18&#8217;s Control Center: Tips To Reset And Customize Your iPhone&#8217;s Quick Access Hub</a>
Workarounds: From 3D Printed Levers To Simple Flips
Some creative users have already found clever fixes. One popular solution involves 3D-printed lever extensions, which allow users to press the power button without lifting the device. Here are a few simple fixes.
See-Saw Lever by Ivan Kuleshov: Shared on X, formerly Twitter, this lever functions like a see-saw—press down on one side to raise the other and engage the button.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Apple is Apple. The power button for the new Mac mini is on its bottom. I&#39;ve come up with a solution for turning the Mac mini 2024 on or off without taking it off the table. Meet iFixTheButton More images, another solution, and download (.stl and .stp) links below in the… <a href="https://t.co/B6PFiQsEWx">pic.twitter.com/B6PFiQsEWx</a>
&mdash; Ivan Kuleshov (@Merocle) <a href="https://twitter.com/Merocle/status/1851583370511196439?ref_src=twsrc%5Etfw">October 30, 2024</a></blockquote>
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</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.
C-Shaped Lever: Another X user who goes by the handle name @shapoco designed a C-shaped lever that slips over the Mini, enabling top access to the button.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://t.co/AKXlBSn3yJ">pic.twitter.com/AKXlBSn3yJ</a>
&mdash; シャポコ&#x1f335; (@shapoco) <a href="https://twitter.com/shapoco/status/1851863974427660563?ref_src=twsrc%5Etfw">October 31, 2024</a></blockquote>
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</figure>
No 3D Printer? Just Flip It Upside Down
If you're without a 3D printer, try flipping the Mac Mini upside down. This positions the power button on top for easy access— place it on a soft surface to avoid scratching.
Or Skip The Button Altogether
Another option: leave your Mac Mini in sleep mode. This way, you rarely need to reach for the power button, as it consumes minimal extra energy.
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 <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.
Photo courtesy: Apple

Apple's 2024 Mac Mini Is A Compact Powerhouse, But Its Power Button Placement Is Not The Most Accessible: Here Are Some Workable Fixes

President-elect Donald Trump, on Tuesday, greenlit the <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">formation of the Department of Government Efficiency </a>or DOGE, the acronym which almost sounds like a parody of the cryptocurrency known as Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>). As the department promises to restructure federal agencies and reduce government spending, it is still unclear if the committee would come under the Federal Advisory Committee Act, which dictates how external groups that advise the government must operate and be accountable to the public.
Such external advisory committees have played an important role in shaping federal programs and policies in the past; former presidents Ronald Reagan and Bill Clinton established similar task forces. However, it is still ambiguous how President-elect Trump, along with unconventional businessman Elon Musk and former presidential candidate Vivek Ramaswamy, will structure and lead this committee.
Also read: <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">Trump Appoints Elon Musk And Vivek Ramaswamy To Lead &#8216;DOGE,&#8217; Aiming to Slash Bureaucracy And $6.5 Trillion Federal Spending: &#8216;We Will Not Go Gently&#8217;</a>
What Happened: The <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">initiative</a> will focus on dismantling bureaucracy, reducing regulations, and cutting wasteful expenditures, as per the notice shared by Trump. The department is scheduled to complete its work by Jul. 4, 2026, coinciding with America's 250th independence anniversary.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">BREAKING: President-Elect Donald Trump announces Elon Musk and Vivek Ramaswamy will lead the Department of Government Efficiency (D.O.G.E.) <a href="https://t.co/zYtr6qZjeJ">pic.twitter.com/zYtr6qZjeJ</a>
&mdash; America (@america) <a href="https://twitter.com/america/status/1856497932352082184?ref_src=twsrc%5Etfw">November 13, 2024</a></blockquote>
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Musk, who shared the announcement on X (formerly Twitter), stated the changes would "send shockwaves through the system." Ramaswamy, responding to the announcement on X, posted "We will not go gently," while sharing Trump's statement.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">We will not go gently, <a href="https://twitter.com/elonmusk?ref_src=twsrc%5Etfw">@elonmusk</a>. &#x1f1fa;&#x1f1f8; <a href="https://t.co/sbVka2vTiW">https://t.co/sbVka2vTiW</a>
&mdash; Vivek Ramaswamy (@VivekGRamaswamy) <a href="https://twitter.com/VivekGRamaswamy/status/1856497493560746377?ref_src=twsrc%5Etfw">November 13, 2024</a></blockquote>
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The department's primary objectives include restructuring federal agencies, reducing government regulations, cutting wasteful spending, creating accountability measures, and implementing structural reforms. The administration states that this effort will make the U.S. government more accountable to citizens while promoting economic growth through reduced bureaucracy.
Also read: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41917731/wall-street-veteran-predicts-sp-500-to-hit-10000-by-2029-roaring-2020s" target="_blank" rel="noreferrer noopener">Wall Street Veteran Predicts S&amp;P 500 To Hit 10,000 By 2029: ‘Roaring 2020s'</a>
Why It Matters: The Federal Advisory Committee Act mandates <a href="https://www.gsa.gov/policy-regulations/policy/federal-advisory-committee-management/advice-and-guidance/the-federal-advisory-committee-act-brochure">specific guidelines</a> for external groups offering advice to the government, ensuring transparency and public oversight.
Federal employees are typically obligated to disclose their roles, obligations, duties, allowable expenses, compensation limitations, and any ethics requirements with their committee's Designated Federal Officer and/or Committee Management Officer, as appropriate. However, as Musk and Ramaswamy would not hold official federal positions, they may not be bound by these disclosure and divestment requirements.
According to <a href="https://www.nytimes.com/2024/10/20/us/politics/elon-musk-federal-agencies-contracts.html">The New York Times</a>, Musk&#8217;s businesses, including SpaceX and Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), were scheduled to receive approximately $3 billion in federal contracts from 17 agencies in 2023. Furthermore, his companies have been the subject of at least 20 federal investigations or reviews. These factors have led to concerns about potential conflicts of interest arising from a Musk-led federal commission.
According to Wednush&#8217;s Dan Ives, &#8220;Since this is not an official Cabinet or US government position and it's essentially newly created, there will be NO changes to Musk&#8217;s CEO roles with Tesla and SpaceX importantly from the Street&#8217;s perspective.&#8221;
Also read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41893461/dogecoins-golden-cross-sparks-hype-after-meme-coin-doubles-over-last-week-previous-cycle-saw-a-7000-rally-could-history-repeat">Dogecoin&#8217;s Golden Cross Sparks Hype After Meme Coin Doubles Over Last Week: Previous Cycle Saw A 7,000% Rally, Could History Repeat?</a>
Congress&#8217; Role
As per FACA, the U.S. Congress seeks to ensure that advisory committees:
<ul>
<li>Provide advice that is relevant, objective, and open to the public.</li>
<li>Act promptly to complete their work.</li>
<li>Comply with reasonable cost controls and record-keeping requirements.</li>
</ul>
Also read: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41883803/nvidias-blackwell-chip-revenue-could-hit-6-billion-next-quarter-analyst">Nvidia&#8217;s Blackwell Chip Revenue Could Hit $6 Billion Next Quarter: Analyst</a>
Appointing Committee Members
The U.S. General Services Administration rules state that federal advisory committee members are drawn from nearly every occupational and industry group and geographical section of the United States and its territories. The FACA requires that committee memberships be "fairly balanced in terms of the points of view represented and the functions to be performed."
Selection of committee members is made based on the FACA's requirements and the potential member's background and qualifications. However, the final selection is made by the president or heads of departments or agencies.
Read next: <a href="https://www.benzinga.com/general/biotech/24/11/41822473/trumps-potential-health-czar-robert-f-kennedy-jr-rattles-vaccine-stocks-shoot-first-reaction">Trump's Potential ‘Health Czar' Robert F. Kennedy Jr. Rattles Vaccine Stocks: ‘Shoot First Reaction'</a>
Image via Flickr

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$DOGE

TSLA

Trump Forms DOGE With Elon Musk And Vivek Ramaswamy At The Helm: Will It Impact Tesla CEO's Role At The EV Giant And SpaceX?

Reported Earlier, V2X Prices Secondary Offering At $61 Per Share, No Proceeds To Company

Reported Earlier, V2X Prices Secondary Offering At $61/Share, No Proceeds To Company

The gross proceeds of the offering to 89bio, before deducting the underwriting discounts and commissions and other offering expenses payable by 89bio, are expected to be approximately $125.0 million. The offering is expected to close on or about November 14, 2024, subject to the satisfaction of customary closing conditions

ETNB

Reported Earlier, 89bio Prices Upsized $125M Public Offering Of 11,455,882 Common Stock At $8.50/Share And Pre-Funded Warrants

Davis Commodities H1 EPS $0.05 Down From $0.08 YoY, Sales $66.88M Down From $97.76M YoY

Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) has announced a new feature for its Find My app that allows users to share the location of lost items with third parties, including airlines.
What Happened: The new feature, called Share Item Location, is part of the iOS 18.2 public beta and will soon be available to all users as a free software update for iPhone Xs and later. 
Users can generate a secure link in the Find My app on their iPhone, iPad, or Mac to share the location of an AirTag or Find My network accessory with others.
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.
Once the item is found, the shared location will be disabled. The owner can also stop sharing this data at any time, ensuring control over privacy. The link will also automatically expire after seven days.
This new AirTag feature will soon be accepted by over 15 airlines, including United Airlines Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UAL#NASDAQ">UAL</a>), Delta Air Lines Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DAL#NYSE">DAL</a>), and British Airways, as part of their customer service process for locating mishandled or delayed bags.
See Also: <a href="https://www.benzinga.com/24/11/41930900/marques-brownlee-apologises-for-overspeeding-in-recent-dji-sponsored-video-cuts-off-snippet-of-driving-a-lamborghini-at-96-mph-in-35-mph-zone">Marques &#8216;MKBHD&#8217; Brownlee Apologizes For Overspeeding In Recent Video, Cuts Off Snippet Of Driving A Lamborghini At 96 MPH In 35 MPH Zone</a>
Why It Matters: In 2023, a <a href="https://www.benzinga.com/news/23/10/35237271/apple-airtags-are-stalkers-weapon-of-choice-dozens-of-victims-allege-in-a-new-class-action-lawsuit">class-action lawsuit</a> was filed by dozens of victims alleging that AirTags were being used as a &#8220;weapon of choice&#8221; by stalkers. The lawsuit claimed that Apple was aware of the risks associated with its AirTags and could be held legally responsible for their misuse.
In January, the company was <a href="https://www.benzinga.com/news/24/01/36527121/apples-next-gen-airtag-launch-said-to-be-delayed-because-theres-simply-a-lot-of-unsold-original-ones">reportedly forced to delay</a> the release of its second-generation AirTag to 2025 due to an overstock of the first-generation product. The company&#8217;s existing AirTags were still performing effectively, and Apple faced minimal competition in the &#8220;Find My&#8221; network.
Apple has been working on solutions to address the misuse of AirTags. In 2023, the company <a href="https://www.benzinga.com/news/23/05/32184898/airtag-stalking-solutions-apple-and-google-submit-proposal-to-keep-users-safe">submitted a proposal</a> in partnership with Alphabet Inc.&#8217;s Google to combat unwanted tracking via Bluetooth location-tracking devices like AirTag.
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: 
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<li><a href="https://www.benzinga.com/tech/24/11/41929739/tesla-makes-1000-powerwalls-at-giga-nevada-in-a-day-as-energy-storage-segment-booms">Tesla Makes 1000 Powerwalls At Giga Nevada In A Day As Energy Storage Segment Booms</a></li>
</ul>
Photo courtesy: Unsplash
This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.<a href="https://www.benzinga.com/apis?utm_source=benzinga.com&amp;utm_campaign=article-bottom" target="_blank" rel="noreferrer noopener"></a>

AAPL

Apple's AirTag Users Can Now Share Location With Airlines For Faster Recovery Of Lost Luggage

Where Food Comes From (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WFCF#NASDAQ">WFCF</a>) reported quarterly earnings of $0.09 per share. This is a 30.77 percent decrease over earnings of $0.13 per share from the same period last year. The company reported $7.11 million in sales this quarter. This is a 1.37 percent increase over sales of $7.01 million the same period last year.

WFCF

Reported Earlier, Where Food Comes From Q3 EPS $0.09 Down From $0.13 YoY, Sales $7.11M Up From $7.01M YoY

Amid the evolving landscape of U.S.-China trade relations, CATL, one of the world&#8217;s largest battery manufacturer, has expressed interest in establishing a manufacturing plant in the United States. 
What Happened: Robin Zeng, the founder and chairman of CATL, shared this perspective in a recent interview. 
&#8220;Originally, when we wanted to invest in the U.S., the U.S. government said no,&#8221; he said. &#8220;For me, I'm really open-minded.&#8221;
Chinese battery and electric vehicle companies have faced significant barriers in entering the U.S. market due to protectionist trade policies initiated during Donald Trump&#8216;s first term. These measures, supported by both major political parties, were implemented over national security and competitive concerns. 
Under the Biden administration, Chinese-made batteries are ineligible for consumer EV subsidies, and vehicles with Chinese connected-car technology face restrictions. Moreover, Chinese EV imports are subject to a 100% tariff, effectively banning them from the U.S. market. 
&nbsp;&#8220;I do hope that in the future they are open to investments,&#8221; he said.
See Also: <a href="https://www.benzinga.com/markets/equities/24/11/41867104/lucid-ceo-scrambles-for-damage-control-as-shares-plunge-47-this-year-as-a-major-shareholderbelieve-me-nobody-is-more-incentivized-than-me-for-success?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Lucid CEO Scrambles For Damage Control As Shares Plunge 47% This Year: &#8216;As A Major Shareholder…Believe Me, Nobody Is More Incentivized Than Me For Success&#8217;</a>
Despite these challenges, Zeng remains optimistic about U.S. expansion, encouraged by Trump&#8217;s comments on incentivizing foreign automakers to build plants and hire workers in the U.S. Currently, CATL&#8217;s involvement in the U.S. is limited to licensing deals with companies like Ford Motor Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) and Tesla (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>).
Why It Matters: During his campaign, Trump promised to hike <a href="https://www.benzinga.com/news/global/24/11/41889911/whats-going-on-with-china-based-stocks-alibaba-jd-com-pdd-holdings-baidu-nio">tariffs on foreign goods</a>, including import fees of up to 60% on Chinese-made goods entering the U.S. 
The potential entry of CATL into the U.S. market will be significant, considering the company&#8217;s ongoing efforts to expand its global EV battery supply chain. In May 2022, CATL was reportedly evaluating sites in the U.S. for manufacturing plants, with a focus on South Carolina and Kentucky, where <a href="https://www.benzinga.com/tech/22/05/27041281/tesla-battery-supplier-catl-actively-exploring-sites-for-manufacturing-plants-in-u-s-report">Ford and BMW</a> have existing facilities.
CATL&#8217;s collaboration with Tesla is seen as a <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/03/37950620/tesla-catl-power-couple-can-recharge-us-ev-market-says-morgan-stanley-analyst-adam-">potential game-changer</a> for the U.S. EV market, as noted by Morgan Stanley analyst Adam Jonas in March. Jonas highlighted the need for high-quality, affordable batteries in the U.S., suggesting that a partnership between Tesla and CATL could significantly impact the market.
Additionally, CATL&#8217;s technology has been at the center of a <a href="https://www.benzinga.com/news/large-cap/23/07/33328450/fords-3-5-billion-battery-plant-deal-with-chinese-firm-catl-draws-us-house-committee-investigation">$3.5 billion battery plant deal</a> with Ford in Michigan, which drew scrutiny from U.S. House committees in July 2023. The committees expressed concerns about the potential influence of the Chinese Communist Party over the U.S. automaker. Ford, however, maintained its commitment to owning and operating the <a href="https://www.benzinga.com/news/24/07/39745306/tesla-supplier-catl-seeks-1-5b-funding-to-expand-global-ev-battery-supply-chain">plant on U.S. soil</a>, contrasting with competitors that import batteries from China.
Read Next: 
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<li><a href="https://www.benzinga.com/24/11/41867250/warren-buffetts-apple-stake-reduction-spurs-97b-cash-surge-analysts-speculate-this-could-be-the-reason-behind-berkshire-hathaways-massive-cash-pile?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Warren Buffett&#8217;s Apple Stake Reduction Spurs $97B Cash Surge—Analysts Speculate This Could Be The Reason&nbsp;Behind Berkshire Hathaway&#8217;s Massive Cash Pile</a></li>
</ul>
Image via Shutterstock
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.

Tesla's Chinese Battery Supplier CATL 'Open Minded' About US Expansion If Trump Welcomes Chinese Investments

The Company estimates its third quarter 2024 operating margin and adjusted operating margin will each be approximately 12 percentage points lower than the operating margin and adjusted operating margin reported for the third quarter 2023 due to lower total operating revenues and higher total operating expenses. Total operating revenues are estimated to have decreased approximately $61 million compared to the third quarter 2023 primarily due to lower average yields, including the negative impact from the Company no longer charging for change and cancellation fees. Total operating expenses are estimated to have increased approximately $46 million and adjusted operating expenses are estimated to have increased approximately $52 million compared to the third quarter 2023. Total operating expenses and adjusted operating expenses are estimated to be higher year over year primarily due to an increase in aircraft rent expense, other operating expense, salaries, wages and benefits, and landing fees and other rents expense. These increases were partially offset by a decrease in aircraft fuel expense.

Guidance

SAVE

Reported Earlier, Spirit Airlines Expects Q3 Margins To Drop 12 Points Following $61M Revenue Decline And $52M Expense Surge

The Company is unable to file its Quarterly Report on Form 10-Q for the quarter ended September 30, 2024 (the "Q3 2024 Form 10-Q") by the prescribed due date without unreasonable effort or expense. As previously disclosed, the Company has been in active and constructive discussions with holders of its senior secured notes due 2025 and convertible senior notes due 2026 (collectively, the "Noteholders") with respect to restructuring the obligations owed by the Company to the Noteholders, as well as exploring strategic alternatives and other ways to improve liquidity for the Company

Reported Earlier, Spirit Airlines Files Form 12b-25, Citing Ongoing Debt Restructuring Talks And Delays In Q3 Report

Arthur Hayes, co-founder of cryptocurrency exchange BitMEX, believed President-elect Donald Trump's policies would weaken the dollar, driving up the value of scarcer assets like Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) significantly.
What happened: In a blog post <a href="https://cryptohayes.substack.com/p/black-or-white">titled </a>"Black or White," published Tuesday, Hayes argued that the Trump era would see a massive expansion in bank credit, leading to an increased money supply.&nbsp;
He said that Republicans would pass bills to encourage manufacturers to establish onshore production. Subsidies and tax credits would be doled out to support such re-shoring initiatives, for which the government would incur more debt.&nbsp;
A devaluing dollar would heighten demand for Bitcoin, Hayes added.&nbsp;
"As the freely traded supply of Bitcoin dwindles, the most fiat money in history will be chasing a safe haven from not just Americans but Chinese, Japanese, and Western Europeans. Get long, and stay long."&nbsp;
A Bitcoin bull himself, Hayes anticipated the leading cryptocurrency to rise to a per-unit price of $1 million eventually under these circumstances.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41873427/shiba-inu-lead-developer-shytoshi-kusama-pitches-s-h-i-b-in-response-to-elon-musks-call-for-new-roles-recommendations-in-trump-administration">Shiba Inu Lead Developer Shytoshi Kusama Pitches S.H.I.B In Response To Elon Musk&#8217;s Call For New Roles Recommendations In Trump Administration</a>
Why It Matters: One of the keen observers of the cryptocurrency market and the U.S. macro economy, Hayes has <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39590057/arthur-hayes-says-bitcoin-is-superior-whereas-gold-is-inferior-heres-why">constantly advocated Bitcoin&#8217;s safe haven attributes</a>, even going so far as to say it is superior to gold.
Hayes maintains that while digital fiat, or <a href="https://www.benzinga.com/money/what-is-a-central-bank-digital-currency-cbdc">central bank digital currencies</a>, match cryptocurrencies in terms of speed, they pose inflationary challenges owing to government involvement.
He famously said that the presidential election was just a distraction and that Bitcoin <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41723508/bitcoin-can-ignore-the-presidential-election-as-noise-says-arthur-hayes">was poised for a long-term bullish trend regardless</a>.
Price Action: At the time of writing, Bitcoin was exchanging hands at $86,494.50 down 2.90% 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>. 
Photo via Shutterstock.
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/24/11/41928272/cathie-woods-ark-invest-foresees-crypto-industry-boost-under-incoming-trump-administration">Cathie Wood-Led Ark Sees Boost For Bitcoin, Crypto Under Trump Administration, Says IPO Window For Circle, Kraken Could Reopen</a></li>
</ul>

$BTC

Trump's High-Inflation Regime Will Weaken The Dollar And Push Bitcoin To $1M, Says Arthur Hayes: 'Get Long And Stay Long'

Popular tech YouTuber Marques Brownlee, also known as MKBHD, apologized for overspeeding in his recent video on Tuesday, following severe backlash from viewers.
What Happened: &#8220;Last video I did something pretty stupid. You might&#8217;ve already seen it, but maybe not so I&#8217;ll address it here. There was a clip with the action cam of me test driving a car and going way to fast. Absolutely inexcusable and dangerous,&#8221; Brownlee wrote in a post on the social media platform X.
The YouTuber added that he cut the overspeeding portion out of the video.
&#8220;I also understand that this looks like covering it up, but I think it&#8217;s the right thing to do,&#8221; Brownlee wrote while adding that there was no reason to include it in the video in the first place. 
&#8220;All I can do apologize and promise never to do anything close to that stupid again. That&#8217;s a terrible example to set and I&#8217;m sorry for it,&#8221; Brownlee wrote. 
<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">Last video I did something pretty stupid. You might&#39;ve already seen it, but maybe not so I&#39;ll address it here. There was a clip with the action cam of me test driving a car and going way to fast. Absolutely inexcusable and dangerous. I&#39;ve since cut it out of the video with…
&mdash; Marques Brownlee (@MKBHD) <a href="https://twitter.com/MKBHD/status/1856456570420257166?ref_src=twsrc%5Etfw">November 12, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Why It Matters: The cut-away snippet showed Brownlee driving a Lamborghini at 96 mph in a 35 mph zone. The 9-minute video, posted on YouTube on Monday, was sponsored by Shenzhen-headquartered DJI and Brownlee promoted the company&#8217;s Osmo Action 5 Pro Camera.
This is not the first time in recent weeks that Brownlee has been on the receiving end of criticism. 
Brownlee recently launched Panels, a wallpaper app that charged $12 per month for access to its entire phone wallpaper collection without ads. Users flagged concerns<a href="https://www.benzinga.com/24/09/41006748/mkbhds-new-wallpaper-app-priced-at-50-per-year-receives-mixed-reviews-from-high-subscription-fee-to"> about the app&#8217;s high pricing</a> and Brownlee subsequently admitted that he &#8220;failed on the price front&#8221; at launch.
The YouTuber <a href="https://www.benzinga.com/news/24/09/41020589/tech-youtuber-mkbhd-responds-after-facing-massive-backlash-over-his-new-12-a-month-wallpaper-app">made several changes</a> to the app and its pricing following the admission.
Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>
Read Next:
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<li><a href="https://www.benzinga.com/tech/24/11/41894615/tesla-q4-deliveries-expected-to-set-new-records-but-not-enough-to-avoid-yearly-sales-decline-says-researcher" target="_blank" rel="noreferrer noopener">Tesla Q4 Deliveries Expected To Set New Records But Not Enough To Avoid Yearly Sales Decline, Says Researcher</a></li>
</ul>
Photo courtesy: Wikimedia

Entertainment

Social Media

Marques 'MKBHD' Brownlee Apologizes For Overspeeding In Recent Video, Cuts Off Snippet Of Driving A Lamborghini At 96 MPH In 35 MPH Zone

i-80 Gold (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/IAUX#AMEX">IAUX</a>) reported quarterly losses of $(0.07) per share which missed the analyst consensus estimate of $(0.02) by 250 percent. The company reported $11.509 million in sales this quarter. This is a 12.91 percent decrease over sales of $13.215 million the same period last year.

Earnings Misses

IAUX

i-80 Gold Q3 2024 Adj. EPS $(0.07) Misses $(0.02) Estimate, Sales $11.509M Down From $13.215M YoY

Commodities

Press Releases

Powermers Smart Industries, Inc., a Global Green-Powered Solutions Company, to be Publicly Listed through a Business Combination with OCA Acquisition Corp.

OCAXU

OCA Acquisition

Powermers Smart Industries, Inc. ("PSI" or the "Company"), a green-powered technology solutions and product platform company, and OCA Acquisition Corp. ("OCAX") (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OCAXU#NASDAQ">OCAXU</a>, OCAX and OCAXW))))), a special purpose acquisition company, have entered into a definitive business combination agreement. Upon the closing of the transactions contemplated by the business combination agreement (the "Business Combination"), the combined company is expected to operate as Powermers Smart Industries, Inc. and its common stock is expected to be listed on Nasdaq under the symbol PSII.PSI is positioning itself with modern engineering and fleet management solutions to transform the commercial transportation and industrial equipment industries on a global scale. PSI has built an ecosystem of partners, with a large and growing fulfillment capacity, that leverages platform-based solutions to shorten R&amp;D cycles, reduce capital expenditure requirements, and accelerate commercialization."Our journey has resulted in a business combination with a premier partner that positions Powermers to accelerate its growth story. With PSI's talented team and market interest, this transaction is a meaningful step to realize the power of our business model, which is designed to help improve the carbon footprint of the commercial transportation and industrial equipment sector globally," commented Christopher Thorne, Chairman and Chief Executive Officer of Powermers Smart Industries, Inc.PSI Investment HighlightsDifferentiated Approach to Address a Global Problem:&nbsp;Greenhouse gas ("GHG") emissions are a massive global problem. The commercial transportation and industrial equipment industries collectively account for approximately 60% of GHG emissions from the transportation sector. PSI's vision is to use its partner ecosystem to help enable a world where sustainable transportation and industrial equipment are the norm, empowering its customers with conscious choices for a healthier planet.Comprehensive Suite of Fleet Management and Related Service Offerings as a Solutions Integrator:&nbsp;PSI forms partnerships with leading companies across the value chain to provide customers access to flexible funding and a wide range of green equipment technology solutions and service options. Business offerings are expected to include equipment, green energy solutions, logistics data services, financial services, marketplaces, and carbon credit realization.Positioned with a Wide Range of Green Energy Equipment Products:&nbsp;PSI integrates various power systems into commercial vehicles and industrial equipment and accelerates their commercialization by leveraging its extensive partnerships with specialty vehicle manufacturers, battery manufacturers, financial institutions, and well-established distributors and dealerships. The product portfolios of PSI's industry partners include logistics vehicles, heavy hauling vehicles for the construction and mining industries, light-duty trucks, micro trucks, forklifts, and agricultural equipment.Multiple Levers for Growth: In addition to its sales of commercial transportation and industrial equipment, PSI aims to generate revenues from multiple sources by creating a market in the green energy ecosystem, including energy platform solutions, logistics data services, financial supply chain services, marketplaces, and carbon credit solutions. PSI's portfolio of intellectual property assets includes&nbsp;patents representing fundamental technology advancements for improving safety and performance for lithium-ion batteries and other energy storage devices.Revenue-Generative Business Model:&nbsp;PSI's innovative business model enables efficient customer acquisition and interlocks diverse and recurring sources of revenues from its end-to-end product and service offerings. PSI's ecosystem of partners with a large and growing fulfillment capacity leverages platform-based solutions that will position PSI to realize shorter R&amp;D cycles, reduced capital expenditure requirements, and accelerated commercialization. PSI has demonstrated the ability to convert customer relationships into realized revenues. As PSI expands its current customer footprint and executes its growth strategies, PSI is expected to continue generating significant growth in 2024 as deliveries accelerate.Experienced and Purpose-driven Leadership Team:&nbsp;PSI is led by an experienced and cohesive leadership team with deep industry knowledge and a track record of driving scale and sustainable growth. Matching purpose with profit, the team is focused on implementing a plan aimed to create value for all the Company's stakeholders by helping enable and lead the world towards a greener energy future."We are excited to partner with Chris and his team at PSI to expand the company's business across North America, Asia, and other international markets. The renewable and environmental services sector has been one of our key target areas. Since the listing of OCAX, we have sought to identify opportunities to leverage Olympus Capital Asia's platform and network in Asia. As an innovative integrator of technologies and solutions that seeks to contribute to the reduction of greenhouse gas emissions, PSI is a perfect fit with our investment priorities. We look forward to supporting management in further expanding its joint venture partnership network and acquisition efforts across multiple markets," said David Shen, President and Chief Executive Officer of OCAX.Transaction TermsAt the closing of the Business Combination, the combined company is expected to have a pro forma equity value of approximately $2 billion. All existing PSI stockholders will roll 100% of their equity into the combined entity. Each share of common stock of OCAX will be converted into one share of&nbsp;common stock of the post-Business Combination company upon closing of the transaction.Concurrently with the execution of the business combination agreement, an investor with a majority economic, non-voting interest in OCAX's sponsor, OCA Acquisition Holdings LLC (the "Sponsor"), committed to make an investment of up to $8 million into PSI pursuant to convertible promissory notes prior to the closing of the Business Combination, and the Sponsor committed to make an additional PIPE investment of $2 million.OCAX's and PSI's respective boards of directors have approved the Business Combination, which is expected to close in 2024, subject to regulatory and stockholder approvals.For additional information about the terms of the Business Combination, including an investor presentation, please see Current Report on Form 8-K, which will be filed today with the Securities and Exchange Commission ("SEC") by OCAX. Additional information about the Business Combination will be provided in the registration statement on Form S-4 (as may be amended from time to time, the "Registration Statement") to be filed with the SEC by PSI relating to the Business Combination.

Powermers Smart Industries, Inc., A Global Green-Powered Solutions Company, To Be Publicly Listed Through A Business Combination With OCA Acquisition Corp.

Digital World Acquisition Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DWAC#NASDAQ">DWAC</a>) shares plunged 20.1% on Wednesday morning after Republican candidates endorsed by President Donald Trump performed poorly <a href="https://www.benzinga.com/news/22/11/29629367/betting-markets-now-show-democrats-as-strong-favorites-to-take-senate">in Tuesday&#39;s midterm elections</a>.

Digital World shares are now down 56.8% overall year-to-date, and short sellers are betting aggressively on more downside ahead.

The Numbers: As a whole, SPACs currently have $506 million in total short interest. S3 Partners analyst Ihor Dusaniwsky said Tuesday that SPAC short interest has increased by $10 million in the past 30 days, led by a surge in short interest for Freedom Acquisition I Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FACT#NYSE">FACT</a>).

Related Link: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/10/29421126/occidental-petroleum-is-the-most-shorted-stock-in-the-energy-sector-how-do-exxon-mo">Occidental Petroleum Is The Most Shorted Stock In The Energy Sector: How Do Exxon Mobil And Chevron Compare?</a> 

&quot;SPAC short covering was also muted over the past thirty days, with no SPACs with more than $5 million of buy-to-covers,&quot; Dusaniwsky said.

Digital World remains the most popular short target in the SPAC group, with $60.3 million in short interest, more than three times the short interest of any other stock. Freedom is now a distant second with $16.2 million in short interest, followed by KKR Acquisition Holdings I Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KAHC#NYSE">KAHC</a>) with $15 million.

When it comes to short interest as a percentage of free float, S3 says Digital World is the SPAC leader at 12.7% followed by Malacca Straits Acquisition Co Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MLAC#NASDAQ">MLAC</a>) at 7.7% and East Stone Acquisition Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ESSC#NASDAQ">ESSC</a>) at 6.8%.

Most Expensive SPAC Shorts: Digital World tops the SPAC group when it comes to the most expensive shorts. Digital World short sellers are paying a 45.8% borrow fee, followed by Altitude Acquisition Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALTU#NASDAQ">ALTU</a>) short sellers paying an 11% fee and OCA Acquisition Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OCAX#NASDAQ">OCAX</a>) short sellers paying an 8.5% fee.

The past month had been painful for SPAC short sellers prior to Wednesday morning&#39;s sell-off. Here are the five least profitable stock shorts based on mark-to-market losses since Oct. 1, as of Tuesday:

<ul>
	<li>Digital World, $656,703 in losses.</li>
	<li>Fortress Value Acquisition Corp IV (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FVIV#NYSE">FVIV</a>), $243,097 in losses.</li>
	<li>KKR Acquisition, $231,329 in losses.</li>
	<li>KKR Acquisition Holdings I Units (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KAHC#NYSE">KAHC</a>), $167,298 in losses.</li>
	<li>Broadscale Acquisition Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SCLE#NASDAQ">SCLE</a>), $130,711 in losses.</li>
</ul>

Related Link: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/10/29270021/tesla-tops-auto-stocks-for-short-sellers-how-do-ford-nio-lucid-and-rivian-rank">Tesla Tops Auto Stocks For Short Sellers: How Do Ford, Nio, Lucid And Rivian Rank?</a>

Benzinga&#39;s Take: Digital World is a classic example of an investment that likely has a binary outcome. If the SPAC completes its merger with Trump Media&nbsp;&amp; Technology Group and its Truth Social platform, there&#39;s a good chance it has significant long-term upside. If it does not complete the merger, the SPAC is likely headed back down to $10.

Photo: Courtesy of&nbsp;<a href="https://www.flickr.com/photos/gageskidmore/" id="yui_3_16_0_1_1647003910696_445422" target="_blank" title="Go to Gage Skidmore's photostream">Gage Skidmore</a>&nbsp;on flickr

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