PGIM ETF Trust PGIM Municipal Income Opportunities ETF (ARCA: PMIO)

Latest news for PGIM ETF Trust PGIM Municipal Income Opportunities ETF (ARCA:PMIO)

The Fund invests at least 80% of its investable assets in municipal obligations whose income is exempt from federal income taxes. The term investable assets refers to the Funds net assets plus any borrowings for investment purposes. The Funds investable assets will be less than its total assets to the extent that it has borrowed money for non-investment purposes, such as to meet anticipated redemptions.

PGIM Municipal Income Opportunities ETF

PGIM ETF Trust PGIM Municipal Income Opportunities ETF

<a href="https://www.benzinga.com/topic/snoop-dogg">Snoop Dogg</a> rattled the core of his fan base <a href="https://www.benzinga.com/markets/cryptocurrency/25/01/43074504/crypto-firms-donate-millions-to-trump-inaugural-fund-host-unofficial-ball-featuring-snoop-dogg">after performing at the first-ever inaugural Crypto Ball</a> Friday, part of the weekend celebrations leading up to President-elect Donald Trump's Monday inauguration.
The Washington, D.C. event, hosted by <a href="https://www.benzinga.com/topic/david-sacks">David Sacks</a>, former COO of PayPal (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PYPL#NASDAQ">PYPL</a>) who <a href="https://www.benzinga.com/24/12/42356067/venture-capitalist-david-sacks-appointed-as-white-house-ai-crypto-czar-by-trump" target="_blank" rel="noreferrer noopener">Trump appointed</a> to serve as the White House AI &amp; crypto czar, was attended by about 1,500 people, including executives from crypto companies such as <a href="https://www.benzinga.com/topic/crypto-com">Crypto.com</a>, <a href="https://www.benzinga.com/topic/kraken">Kraken</a> and <a href="https://www.benzinga.com/24/12/42569133/crypto-wallet-provider-exodus-makes-wall-street-debut-shares-pop-37">Exodus</a> (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/EXOD#AMEX">EXOD</a>), <a href="https://www.reuters.com/world/us/with-cocktails-snoop-dogg-crypto-industry-celebrates-trump-inauguration-2025-01-18/">reported</a> Reuters. 
Trump, who did not attend the gala, is expected to <a href="https://www.benzinga.com/25/01/43073027/trump-plans-crypto-friendly-executive-orders-in-early-days-of-presidency-report">issue executive orders</a> next week aimed at fostering a more favorable environment for cryptocurrency companies. 
<h2 class="wp-block-heading">&#8216;Make Bitcoin Great Again&#8217;</h2>
Swag included &#8220;Make Bitcoin Great Again&#8221; baseball caps and flag pins with the symbol for <a href="https://www.benzinga.com/topic/gemini">Gemini</a>, an event sponsor and crypto exchange founded by Cameron and Tyler Winklevoss. Reuters reported that other sponsors included the digital asset division of Robinhood (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>)<a href="https://www.reuters.com/markets/companies/HOOD.O" target="_blank" rel="noreferrer noopener">,</a> MicroStrategy and Crypto.com. 
Read Also: <a href="https://www.benzinga.com/markets/cryptocurrency/25/01/43074504/crypto-firms-donate-millions-to-trump-inaugural-fund-host-unofficial-ball-featuring-snoop-dogg">Crypto Firms Donate Millions to Trump Inaugural Fund, Host Unofficial Ball Featuring Snoop Dogg</a>
Snoop, a voracious <a href="https://www.benzinga.com/markets/cannabis/24/07/39733952/snoop-dogg-to-open-weed-stores-in-la-amsterdam-named-after-iconic-smoke-weed-every-day-motto">cannabis consumer</a>, was filmed as the DJ playing songs like Bob Marley's &#8220;Three Little Birds (Don't Worry About a Thing), <a href="https://www.foxnews.com/entertainment/snoop-dogg-wows-trump-inauguration-crypto-ball-bob-marley-song">reported</a> Fox News. He also performed a few of his own tunes, including, &#8220;Drop It Like It's Hot.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">BREAKING: Snoop Dogg has gone full-blown <a href="https://twitter.com/hashtag/MAGA?src=hash&amp;ref_src=twsrc%5Etfw">#MAGA</a> performing at Trump's Crypto Ball <a href="https://twitter.com/hashtag/Trump?src=hash&amp;ref_src=twsrc%5Etfw">#Trump</a> <a href="https://twitter.com/hashtag/Inauguration?src=hash&amp;ref_src=twsrc%5Etfw">#Inauguration</a> <a href="https://t.co/g6TH2H0cmD">pic.twitter.com/g6TH2H0cmD</a>
&mdash; Fiona Moriarty (@factswithfiona) <a href="https://twitter.com/factswithfiona/status/1880480621874803051?ref_src=twsrc%5Etfw">January 18, 2025</a></blockquote>
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<h2 class="wp-block-heading">Trump Vs. Snoop, Now ‘Love And Respect'</h2>
In a March 2017 video <a href="https://hightimes.com/culture/music/trump-freaks-out-over-snoop-doggs-new-video-and-its-priceless/">made by Snoop Dogg,</a> a character named "Ronald Klump" presented as a clown is shot by Snoop Dogg with a Looney Tunes&#8211;style gun. The mock shooting drove then President Trump straight to his Twitter account where he tweet-stormed Snoop pretty much day and night for at least a week.
Jumping to January 2024, after Trump launched his presidential campaign, the rapper sang his praises. "Donald Trump? He ain&#8217;t done nothing wrong to me,&#8221; he told <a href="https://www.thetimes.co.uk/article/snoop-dogg-i-have-nothing-but-love-and-respect-for-donald-trump-k60k99phr" target="_blank" rel="noreferrer noopener">The Sunday Times</a>. "He pardoned Michael Harris." Harris, the co-founder of Snoop's first label, Death Row, was serving time for drug offenses. "So, I have nothing but love and respect for Donald Trump."
Meanwhile, Snoop's fans seem not to be feeling a lot of love and respect for him right now.
In footage shared by <a href="https://www.instagram.com/p/DE9IUynM67H/?img_index=1">The Shade Room</a> on Instagram, comments ranged from unkind to shocked to furious.
"This is culturally embarrassing and disrespectful asf [as f&#x2A;&#x2A;&#x2A;]," one person wrote.
"Nipsey and Pac would never!!!" said another, referring to the late, beloved rappers <a href="https://www.benzinga.com/markets/cannabis/23/09/35011178/tupac-shakur-murder-suspect-indicted-nearly-three-decades-after-hip-hop-icons-shooting-death">Tupac Shakur</a> and <a href="https://www.benzinga.com/markets/cannabis/23/02/31021050/nipsey-hussles-murderer-sentenced-to-60-years-in-prison-after-months-long-trial">Nipsey Hussle</a>.
"Not a check in the world worth selling my soul to the Devil," another person wrote.
For the pleasure of rubbing shoulders with tech and crypto billionaires at the event that will no doubt solidify Trump as the <a href="https://www.the-independent.com/tech/trump-bitcoin-crypto-president-jd-vance-b2582235.html">self-proclaimed</a> &#8220;first crypto president,&#8221; guests shelled out between $2,500 and $5,000 for tickets. But, there was a $100,000 VIP package that included face time crypto czar Sacks. 
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Trump's Crypto Ball: Snoop Dogg's Participation Leaves Fans Furious, Top Crypto Execs Delighted

The past week has been a rollercoaster ride for the tech industry. From potential sanctions shaking up the semiconductor sector to controversies surrounding artificial intelligence (AI) companies, the news has been abuzz with developments that could have far-reaching implications. Here&#8217;s a roundup of the top stories that made headlines.
Nvidia&#8217;s $10B Setback and ETFs to Watch
The U.S. semiconductor industry is on tenterhooks as the possibility of further sanctions on AI chip exports to China looms large.&nbsp;Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>)&nbsp;recently experienced a significant setback when its major tech clients deferred orders worth billions of dollars. The geopolitical turbulence has investors keeping a close eye on the impact on exchange-traded funds (ETFs) linked to the sector.
<a href="https://www.benzinga.com/news/global/25/01/43040533/nvidia-10-billion-setback-3-etfs-to-watch-sanctions">Read the full article here.</a>
OpenAI Whistleblower Controversy
The death of former OpenAI engineer Suchir Balaji has sparked a controversy. His mother, Poornima Ramarao, claims that he had sensitive documents about the AI company&#8217;s practices. She alleged in an interview that her son&#8217;s knowledge of OpenAI&#8217;s operations led to his death.
<a href="https://www.benzinga.com/tech/25/01/43023088/openai-whistleblower-suchir-balajis-mother-says-her-son-had-documents-against-sam-altmans-ai-startup-elon-musk-calls-it-extremely-concerning">Read the full article here.</a>
Microsoft Launches 365 Copilot Chat
Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>)&nbsp;unveiled its AI-powered chat service, 365 Copilot Chat, with a new pay-as-you-go plan. The service, previously known as Bing Chat Enterprise, is designed for businesses and focuses on workflow automation.
<a href="https://www.benzinga.com/25/01/43022267/microsoft-launches-new-ai-agents-in-365-copilot-chat-to-drive-widespread-adoption-of-task-automation-tools">Read the full article here.</a>
Broadening Rally in Semiconductors Predicted
Semiconductor analyst Vivek Arya anticipates a surprising broadening rally in semiconductors in 2025. He predicts a growing divide between AI haves and cyclical have-nots. However, Arya also points out several unresolved issues for the sector, including global tariffs, rising inflation, and China restrictions.
<a href="https://www.benzinga.com/25/01/42961753/analyst-sees-broadening-rally-in-semis-coming-in-2025-2-top-stock-picks-and-2-to-avoid">Read the full article here.</a>
Zuckerberg and Huang on Quantum Computing
Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>)&nbsp;CEO Mark Zuckerberg agrees with&nbsp;Nvidia CEO Jensen Huang&#8217;s cautious outlook on quantum computing. Zuckerberg believes that the technology is still years away from practical implementation, echoing the industry consensus of a decade-long timeline for widespread quantum computing adoption.
<a href="https://www.benzinga.com/markets/equities/25/01/42936751/mark-zuckerberg-backs-nvidia-ceo-jensen-huangs-view-on-quantum-computing-its-still-quite-a-ways-off">Read the full article here.</a>
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/Rounak-Jain" target="_blank" rel="noreferrer noopener">Rounak Jain</a>

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Nvidia's $10 Billion Setback, OpenAI Controversy, And Microsoft's AI Chat Launch: This Week In Artificial Intelligence

These eleven large-cap stocks were the worst performers in the last week. Are they in your portfolio?
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<li>FTAI Aviation Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTAI#NASDAQ">FTAI</a>) shares plummeted 35.42% after short seller firm Muddy Waters Research announced they <a href="https://www.benzinga.com//node/43040046" target="_blank" rel="noreferrer noopener">initiated a short position in the company</a>.</li>
<li>Moderna, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRNA#NASDAQ">MRNA</a>) stock plunged 19.38% after the company updated its 2025 expected revenue range to $1.5 billion to $2.5 billion, below <a href="https://www.benzinga.com//node/42946454" target="_blank" rel="noreferrer noopener">analyst estimates of $2.951 billion</a>. Morgan Stanley maintained an Equal-Weight rating and lowered the <a href="https://www.benzinga.com/quote/mrna/analyst-ratings" target="_blank" rel="noreferrer noopener">price forecast from $70 to $38</a>.</li>
<li>GameStop Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>) stock declined 14.86%. In a recent X post, CNBC's Jim Cramer <a href="https://www.benzinga.com//node/43053808" target="_blank" rel="noreferrer noopener">steered investors toward</a> quantum stocks, suggesting they reinvest gains from GameStop into Rigetti Computing Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RGTI#NASDAQ">RGTI</a>).</li>
<li>Snap Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNAP#NYSE">SNAP</a>) shares dipped 12.91% following a report suggesting that Trump is considering an executive order to save TikTok from a U.S. ban.</li>
<li>Rocket Lab USA, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RKLB#NASDAQ">RKLB</a>) shares were down 10.81%. The company disclosed that its second Pioneer spacecraft for Varda Space Industries, Inc. is<a href="https://www.benzinga.com//node/43028933" target="_blank" rel="noreferrer noopener"> successfully operating in orbit</a>.</li>
<li>Natera, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTRA#NASDAQ">NTRA</a>) stock lost 9.51% last week despite Guggenheim <a href="https://www.benzinga.com/quote/ntra/analyst-ratings" target="_blank" rel="noreferrer noopener">raising the price forecast</a> from $170 to $200. The company is due to provide a roadmap and outlook at the J.P. Morgan Healthcare Conference.</li>
<li>Eli Lilly and Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>) stock decreased 9.27%  after the company issued FY24 revenue guidance <a href="https://www.benzinga.com//node/42976923" target="_blank" rel="noreferrer noopener">below the previous estimate</a>.</li>
<li>ICON plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ICLR#NASDAQ">ICLR</a>) stock fell 9.22% after the company issued FY25 guidance with <a href="https://www.benzinga.com//node/42971328" target="_blank" rel="noreferrer noopener">its midpoint below estimates</a>.</li>
<li>BioNTech SE (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BNTX#NASDAQ">BNTX</a>) shares declined 8.89% after Moderna issued 2025 revenue <a href="https://www.benzinga.com//node/42951363" target="_blank" rel="noreferrer noopener">guidance below analyst estimates</a>.</li>
<li>Novo Nordisk A/S (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVO#NYSE">NVO</a>) shares fell 8.89% after Ozempic and Wegovy were included in a list of 15 medications for <a href="https://www.benzinga.com//node/43062779" target="_blank" rel="noreferrer noopener">Medicare drug price negotiations</a>.</li>
<li>BioMarin Pharmaceutical Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BMRN#NASDAQ">BMRN</a>) shares tumbled 8.68%. The company initiated a legal action against Ascendis Pharma A/S for infringement of European patent EP 3 175 863 B1 at the <a href="https://www.benzinga.com//node/42953403" target="_blank" rel="noreferrer noopener">Unified Patent Court (UPC) in Munich, Germany</a>.</li>
</ol>
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Moderna, GameStop And Snap Are Among Top Large-Cap Losers Last Week (Jan 13-Jan 17): Are The Others In Your Portfolio?

The Los Angeles wildfires have caused widespread destruction, with over 40,000 acres burned, 12,300 structures destroyed and thousands displaced. According to estimates from AccuWeather, the financial impact is between $250 billion and $275 billion and counting.
President Joe Biden recently declared, "I told the governor and local officials, spare no expense," pledging federal support for the disaster response. With FEMA and other organizations providing emergency assistance, this destruction still begs the crucial question: Who is paying for it?
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">President Biden: &quot;Today I&#39;m announcing that the federal government will cover 100% of the cost for 180 days&#8230;I told the governor and local officials spare no expense to do what they need to do to contain these fires.&quot; <a href="https://t.co/TopHguIBBR">pic.twitter.com/TopHguIBBR</a>
&mdash; CSPAN (@cspan) <a href="https://twitter.com/cspan/status/1877484094021386285?ref_src=twsrc%5Etfw">January 9, 2025</a></blockquote>
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<h2 class="wp-block-heading">Governments, Insurers and Residents Share the Costs</h2>
As Business Insider reports, the federal government covers immediate response efforts, including fire containment and emergency shelters. FEMA offers displaced families hazard mitigation and financial aid, but these programs aren't designed to fully rebuild homes or businesses. For that, private insurers and residents are largely on their own.
However, insurance coverage is becoming a significant hurdle. Companies like Allstate, State Farm and Farmers have <a href="https://www.benzinga.com/real-estate/24/03/37964319/another-home-insurer-leaves-california-and-eight-other-states">recently stopped covering</a> in high-risk areas, citing rising disaster risks. Many residents are left relying on California's FAIR plan, the state's last-resort insurance program. This often results in higher premiums and less comprehensive coverage, leaving homeowners with steep out-of-pocket costs.
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For <a href="https://www.benzinga.com/real-estate/24/11/41685300/1-in-13-homeowners-are-risking-it-all-heres-why-experts-call-it-a-huge-mistake">uninsured residents</a>, rebuilding isn't just challenging – it's financially crippling. And while state and local governments offer some support, long-term recovery largely depends on personal finances and private contributions.
It's not just the direct costs of rebuilding homes and infrastructure that add up. Indirect losses, like health care expenses, lost wages and business disruptions, compound the financial blow. The destruction of neighborhoods with high property values, such as Malibu, Santa Monica and the Pacific Palisades, further increases the economic toll.
The price of materials and labor is also expected to soar. Demand for contractors, plumbers, electricians and other specialists will outstrip supply, pushing costs higher. Furthermore, building supplies like steel and lumber may increase due to inflation and possible price gouging.
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<h2 class="wp-block-heading">A Long Road to Recovery</h2>
The sheer scale of the damage has made the Los Angeles wildfires one of the costliest disasters in U.S. history, surpassing even the record-breaking wildfire seasons of recent years.&nbsp;
President Biden has promised that the federal government will cover all the fire response costs and give affected families a <a href="https://www.benzinga.com/25/01/42992642/biden-administration-announces-one-time-770-payments-to-california-wildfire-victims">$770 one-time check</a>. Still, rebuilding will take years and more money and planning will be needed. Local leaders are asking Congress for extra funding, but it's unclear when that will happen.
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'Spare No Expense,' Says Biden, But Who's Really Footing The Bill, As The Los Angeles Wildfire Damage Surpasses $250 Billion

As Donald Trump prepares for his historic second inauguration next week, excitement is palpable not only among his supporters but also within the cryptocurrency community.
The market has been brimming with optimism, as reports have indicated that the president-elect would <a href="https://www.benzinga.com/25/01/43047039/trump-planning-to-declare-cryptocurrency-as-national-priority-increase-engagement-with-industry-report">announce several measures</a> to help the digital asset industry expand.
Naturally, speculation around market moves has been running high, especially for heavyweights like Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>).
Several analysts that Benzinga spoke to provided interesting viewpoints about what to expect come Jan. 20.
<h2 class="wp-block-heading">Will Bitcoin Consolidate Or Rally?</h2>
According to Arthur Azizov, CEO of cryptocurrency payment company B2BINPAY,&nbsp; a &#8220;gradual&#8221; increase over Trump&#8217;s four-year term was a more plausible scenario than an "immediate" 100% spike for all coins.
Azizov predicted that Bitcoin would consolidate following the inauguration, giving altcoins room to rally.
"As for Bitcoin's price, I believe it could be around $100,000–$102,000 next month," Azizov added.
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Chris Kline, COO and Co-Founder of BitcoinIRA, was confident that if the anticipated <a href="https://www.benzinga.com/markets/cryptocurrency/25/01/43035888/donald-trump-reportedly-open-to-us-crypto-reserve-as-bitcoin-reserve-chatter-gathers-steam">cryptocurrency-friendly executive orders</a> are enacted, they would encourage blockchain innovation and digital asset usage.
Among the proposals being evaluated for inclusion in the executive order is the establishment of a national Bitcoin reserve that would include the government's current Bitcoin holdings. Such a move could have far-reaching implications for Bitcoin's future valuations.
With these factors at play, Kline expressed confidence that bold projections, including the<a href="https://www.benzinga.com/markets/cryptocurrency/25/01/42965795/tom-lee-forecasts-bitcoin-could-dip-to-50k-but-maintains-long-term-target-of-250k-amid-market-volatility"> $250,000 per Bitcoin target </a>by Wall Street Strategist Tom Lee, seem probable.
Joe McCann, founder and CEO of cryptocurrency hedge fund Asymmetric, added to the positive outlook, saying, &#8220;The worst is behind us.&#8221;
McCann stated that Bitcoin reclaiming the key psychological barrier of $100,000 was indicative of a positive sentiment.
"Although it's trading slightly below that right now, it shows significant open interest with targets ranging from $125,000 to $150,000. This indicates bullish sentiment and expectations for continued price growth," he added.
<h2 class="wp-block-heading">More Clarity Needed For Bitcoin To Surge?</h2>
Meanwhile, Arthur Hayes, co-founder of cryptocurrency exchange BitMEX, took a contrarian position, even forecasting a correction from present levels.
&nbsp;"I think Bitcoin will be range-bound between $90,000 and $100,000 until some of Trump's economic policies are clarified and the rest of the world reacts," Hayes told Benzinga.
Never before had the cryptocurrency community anticipated a presidential inauguration like this. While the true extent of the impact could not be accurately ascertained, there was little doubt that Trump's policies, or lack thereof, would dictate how the market moves in the near future.
Price Action: At the time of writing, Bitcoin was exchanging hands at $101,394.39, up 2.03% 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>. 
Image via Shutterstock
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</ul>

Exclusives

$BTC

Trump Inauguration To Trigger $250K Bitcoin Rally Or A Plunge Below $100K: Analysts Weigh In

The past week has been a rollercoaster ride for the electric vehicle (EV) industry, with&nbsp;Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)&nbsp;at the center of the action. The company saw a surge in Cybertruck sales, but this success came at the expense of its luxury Model S and X sales. Meanwhile, Tesla CEO Elon Musk denied the company&#8217;s involvement in a fire at a power plant, and rival Jeff Bezos expressed confidence in the competitive landscape of the commercial space industry.
Cybertruck Success Overshadows Tesla&#8217;s Luxury Models
Tesla&#8217;s Cybertruck sales in the U.S. last year weighed heavily on the company&#8217;s other luxury offerings, including the Model S sedan and the Model X SUV, according to recent data from automotive research firm Kelley Blue Book. Tesla sold nearly 39,000 Cybertrucks in 2024, but Model S and X sales took a major hit, dropping 31% and 20% respectively.
<a href="https://www.benzinga.com/25/01/42967593/cybertruck-sales-rise-in-2024-weighed-down-on-tesla-model-s-deliveries-in-us-shows-data">Read the full article here.</a>
Musk Denies Tesla&#8217;s Involvement in Power Plant Fire
Tesla Musk denied the company's involvement in a fire that broke out at a 750 MW Moss Landing battery storage facility. Musk stated that the fire had nothing to do with Tesla and that their Megapacks were operating well.
<a href="https://www.benzinga.com/tech/25/01/43050342/elon-musk-denies-teslas-involvement-in-fire-at-moss-landing-power-plant-in-monterey-county">Read the full article here.</a>
Bezos Confident Despite SpaceX&#8217;s Close Ties to Trump
Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) founder Bezos voiced confidence in the competitive landscape of the commercial space industry, despite President-elect Donald Trump‘s close ties with rival Elon Musk‘s SpaceX. Bezos stated that he takes Musk at face value, dismissing concerns about SpaceX undercutting Blue Origin.&nbsp;<a href="https://www.benzinga.com/general/space/25/01/42937555/jeff-bezos-says-he-takes-elon-musk-at-face-value-despite-his-close-ties-to-trump-dismisses-concerns-about-spacex-undercutting-blue-origin">Read the full article here.</a>
Record High U.S. EV Sales in 2024
The U.S. automotive industry saw a record number of electric vehicles sold in 2024, with over 1.3 million units sold, breaking last year&#8217;s record with a 7.3% year-over-year increase. This record was achieved despite some weakness from sector leader Tesla.
<a href="https://www.benzinga.com/trading-ideas/25/01/42978236/us-electric-vehicle-sales-hit-record-1-3-million-units-in-2024-despite-tesla-declines-top-10-bestselling-models-list">Read the full article here.</a>
Rivian Joins Tesla, Ford in Wildfire Relief Efforts
California-based EV startup Rivian Automotive Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>) joined Tesla and Ford Motor Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) in supporting relief activities in the Los Angeles area battling wildfires. Rivian deployed vehicles to transport relief supplies and support emergency response.
<a href="https://www.benzinga.com/tech/25/01/42994308/rivian-joins-ford-tesla-in-supporting-relief-efforts-amid-california-wildfires">Read the full article here.</a>
Read Next:
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<li><a href="https://www.benzinga.com/25/01/43073132/cathie-wood-is-betting-big-on-this-ai-darling-and-no-its-not-nvidia">Cathie Wood&#8217;s Ark Invest Is Betting Big On This AI Darling And No It&#8217;s Not Nvidia</a></li>
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Image credit: Dall-E 3
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/ananya-gairola" target="_blank" rel="noreferrer noopener">Ananya Gairola</a>

AMZN

RIVN

TSLA

Tesla's Mixed Bag, Musk's Fire Denial, Jeff Bezos' Confidence, And Rivian's Relief Efforts: This Week In Mobility

The U.S. <a href="https://www.benzinga.com/startups/24/09/40971171/trump-promises-more-tariffs-while-repeating-his-controversial-false-claim-about-chinese-automakers-b">auto industry</a> ended 2024 on a high note, selling nearly 16 million vehicles. That's a 2% bump from the previous year and the best numbers since 2019, when sales peaked at 17 million.&nbsp;
According to S&amp;P Global Mobility, the recovery shows real momentum despite rising costs and inflation challenges. "Given the affordability and inflationary headwinds, it's probably a decent year," said Stephanie Brinley, Associate Director at S&amp;P Global Mobility. "It's moving in the direction we need to move."
General Motors (GM) stayed on the leaderboard, moving over 2.7 million vehicles in 2024. That's a solid 4.3% increase from 2023 and GM's best year since 2019, when they sold 2.9 million.&nbsp;
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<a href="https://www.benzinga.com/startups/24/10/41198502/toyota-slows-down-ev-production-amid-industrywide-shift-heres-why-theyre-changing-course">Electric vehicles (EVs)</a><a href="https://finance.yahoo.com/news/toyota-slows-down-ev-production-163018193.html"> </a>were a bright spot, with sales jumping 50% to over 114,400 units. Still, EVs made up just 4.2% of GM's total sales. "GM's EV portfolio is growing faster than the market because we have an all-electric vehicle for just about everybody, no matter what they like to drive," said Rory Harvey, GM's President of Global Markets.
Not far behind, Ford had a strong showing with 2.08 million vehicles sold, up from just under two million the year before. While Ford hasn't quite hit its 2019 peak of 2.42 million, its electrified vehicles – like hybrids and EVs – were the star of the show.&nbsp;
Sales in that segment surged 38.3% to 285,291 units, making up 13.7% of Ford's total sales. In July 2024, Andrew Frick, then President of Ford Blue, noted, &#8220;Hybrid and electric vehicles are driving growth,&#8221; highlighting the company's focus on electrified options.&nbsp;
See Also: With 100+ historic trademark victories, this company holds IP for some of the highest-grossing characters in history. Now, they've propelled these icons into the future using next-gen patented AR, VR, and AI technology. <a href="https://www.benzinga.com/money/elf-labs-1">There&#8217;s now a limited window for investors to claim shares at just $2/share with $980 minimum—but the clock is ticking.</a>
According to Reuters, Toyota also had a solid year, with sales rising 3.7% to over 2.3 million vehicles compared to 2.25 million in the previous year. Honda saw an even more significant boost, with an 8.8% increase to 1.4 million units sold.&nbsp;
Hyundai and Kia broke records, with Hyundai sales up 4% to 836,802 and Kia climbing 1.8% to 796,488 units. Both brands leaned on their mix of compact and fuel-efficient vehicles to keep the momentum going.
Stellantis, on the other hand, hit a rough patch. The automaker, which owns brands like Dodge and Jeep, saw sales drop 15% to around 1.3 million vehicles, its weakest performance since 2010.&nbsp;
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Dodge was hardest hit, with a 29% sales decline, while Jeep was down 9%. In a CNN report, Edmunds' head of industry insights, Jessica Caldwell, commented on Stellantis&#8217; pricing strategy, stating, &#8220;They just can't afford this,&#8221; referring to Stellantis' typical consumers&#8217; inability to follow the brand toward higher prices.&nbsp;
She further explained, &#8220;That's the wall they're hitting. Fundamentally they have a product mismatch for the market.&#8221;
Discounts helped drive sales across the board. According to the Wall Street Journal, buyers in December got an average of $3,400 off, up 25% from 2023.&nbsp;
But <a href="https://www.benzinga.com/real-estate/24/11/41811635/rent-soars-pay-lags-why-millions-are-working-50-hours-just-to-afford-housing-according-to-new-report">affordability </a>remains a challenge. Kelley Blue Book cited that the average transaction price (ATP) for a new vehicle in the United States was $48,397 in September 2024, reflecting a 0.4% decline from last year.
Looking ahead, the industry is optimistic. S&amp;P Global Mobility projects 2025 sales to hit 16.2 million vehicles.
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Startups

U.S. Auto Industry Rebounds To 16M Sales In 2024, As GM, Ford And Toyota Drive The Push Toward Electrification

The week was filled with significant developments, from the anticipation of President-elect&nbsp;Donald Trump&#8216;s executive orders to the bullish surge of Bitcoin. Here&#8217;s a quick recap of the top stories that made headlines.
Trump&#8217;s Day 1 Executive Orders
Betting markets are predicting a flurry of executive orders from President-elect Trump on his first day in office. Traders on the CFTC-regulated platform Kalshi anticipate Trump signing at least 15 executive orders, with the most aggressive bets on 50 or more. The first days of the Trump administration are expected to be highly consequential, with potential changes in tariffs, immigration, and Bitcoin policies.
<a href="https://www.benzinga.com/government/regulations/25/01/43068639/betting-markets-brace-for-wave-of-executive-orders-on-trump-day-1-immigration-tariffs-top-issues-on-the-table">Read the full article here.</a>
Bitcoin&#8217;s Bullish Surge
Crypto trader Michaël van de Poppe predicts a significant bullish surge for Bitcoin as it crosses the $100,000 mark ahead of Trump&#8217;s inauguration. He also suggests that altcoins, particularly those in the Ethereum ecosystem, will likely outperform Bitcoin.
<a href="https://www.benzinga.com/25/01/43073087/bitcoin-set-for-major-bullish-surge-says-popular-crypto-analyst-as-btc-crosses-100000-ahead-of-trump-inauguration">Read the full article here.</a>
Trump&#8217;s Crypto-Friendly Approach
Reports suggest that Trump is preparing to issue executive orders to create a more favorable environment for cryptocurrency firms. These actions are expected to occur shortly after he assumes office, marking a significant shift in the regulatory landscape for digital assets.
<a href="https://www.benzinga.com/25/01/43073027/trump-plans-crypto-friendly-executive-orders-in-early-days-of-presidency-report">Read the full article here.</a>
DCG Settles with SEC
Digital Currency Group (DCG) agreed to settle with the U.S. Securities and Exchange Commission (SEC) for misleading investors. DCG and its former executive, Soichiro "Michael" Moro, will collectively pay $38.5 million to the SEC to resolve charges related to providing false information about the financial state of Genesis Global Capital.
<a href="https://www.benzinga.com/25/01/43072974/crypto-firm-dcg-settle-with-sec-for-385m-over-misleading-investors">Read the full article here.</a>
Altcoins&#8217; Bullish Signal
As Bitcoin surpasses the $100,000 mark, a crypto analytics firm has observed a bullish signal for altcoins. The firm noted a significant increase in whale transactions for several altcoin projects, suggesting that investors might soon use these stablecoins to acquire altcoins.
<a href="https://www.benzinga.com/25/01/43073101/altcoins-flash-bullish-signal-amid-bitcoins-surge-says-research-firm">Read the full article here.</a>
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Photo courtesy: Shutterstock
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/Rounak-Jain" target="_blank" rel="noreferrer noopener">Rounak Jain</a>

Trump's Expected Executive Orders, Bitcoin's Bullish Surge, And More: This Week In Crypto

Washington state has taken legal action against&nbsp;T-Mobile US, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TMUS#NASDAQ">TMUS</a>) for&nbsp;allegedly neglecting cybersecurity vulnerabilities, leading to a significant data breach in 2021 that impacted <a target="_blank" href="https://www.benzinga.com/25/01/42931807/t-mobile-sued-over-massive-data-breach-impacting-79-million-americans-sensitive-information-included-names-addresses-and-more" rel="noreferrer noopener">79 million people across the U.S</a>.
Social Media &amp; Smartphones
President-elect&nbsp;Donald Trump&nbsp;is considering issuing an executive order aimed at rescuing&nbsp;TikTok&nbsp;from being banned from <a target="_blank" href="https://www.benzinga.com/general/social-media/25/01/43018125/trump-considers-executive-order-to-save-tiktok-from-being-banned-in-4-days" rel="noreferrer noopener">U.S. app&nbsp;stores in four days</a>.&nbsp;
The potential ban of TikTok could impact the app's nearly 17,000 employees in the U.S., <a target="_blank" href="https://www.benzinga.com/general/social-media/25/01/42997566/tiktok-is-set-to-be-banned-in-the-us-this-sunday-unless-the-supreme-court-steps-in-heres-what-happens-to-its-nearly-17000-american-workforce" rel="noreferrer noopener">sparking a wave of uncertainty</a>.
Jimmy Donaldson, popularly known as&nbsp;MrBeast, is in talks with several billionaires about potentially acquiring&nbsp;TikTok to <a target="_blank" href="https://www.benzinga.com/general/social-media/25/01/42994923/mrbeast-discussing-buying-tiktok-with-billionaires-to-prevent-us-shutdown-lets-see-if-we-can-pull-this-off" rel="noreferrer noopener">prevent its shutdown in the U.S</a>.
Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) investor&nbsp;Gary Black&nbsp;has expressed concerns about&nbsp;Elon Musk&nbsp;<a target="_blank" href="https://www.benzinga.com/25/01/43019833/elon-musk-buying-tiktok-could-hurt-tesla-warns-gary-black-but-dan-ives-thinks-it-makes-sense" rel="noreferrer noopener">acquiring TikTok&#8217;s U.S. operations</a>.
Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) is experiencing a drop in its market share in China. This decline is attributed to a decrease in iPhone shipments, as reported by <a href="https://www.benzinga.com/tech/25/01/42931758/apple-staring-at-market-share-decline-in-china-amid-declining-iphone-shipments-top-analyst-flags-why-some-models-could-be-face-shipping-momentum-challenges" target="_blank" rel="noreferrer noopener">supply chain analyst </a><a href="https://www.benzinga.com/tech/25/01/42931758/apple-staring-at-market-share-decline-in-china-amid-declining-iphone-shipments-top-analyst-flags-why-some-models-could-be-face-shipping-momentum-challenges" target="_blank" rel="noreferrer noopener">Ming-Chi Kuo</a>.
Technology
Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>)&nbsp;launched&nbsp;365 Copilot Chat, its AI-powered chat service with AI agents and a new pay-as-you-go plan. The company has rebranded its AI chat service, formerly known as&nbsp;Bing Chat Enterprise, under a new plan named <a target="_blank" href="https://www.benzinga.com/25/01/43022267/microsoft-launches-new-ai-agents-in-365-copilot-chat-to-drive-widespread-adoption-of-task-automation-tools" rel="noreferrer noopener">Microsoft 365 Copilot Chat</a>.
As Southern California battles severe wildfires,&nbsp;NVIDIA Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>)&nbsp;researcher&nbsp;Jim Fan&nbsp;emphasized the potential of AI-powered robots in managing such disasters, stating that artificial intelligence could <a target="_blank" href="https://www.benzinga.com/tech/25/01/42946197/nvidias-ai-robots-may-revolutionize-firefighting-amid-california-wildfires" rel="noreferrer noopener">significantly aid firefighting efforts</a>.
An internal memo from&nbsp;Meta Platforms Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) has unveiled a strategy to implement&nbsp;performance-based job cuts. The memo indicates that Meta aims to achieve a 10% "non-regrettable attrition" rate by the end of <a target="_blank" href="https://www.benzinga.com/media/25/01/42995912/meta-plans-to-cut-5-of-staff-backfill-roles-in-2025-says-internal-memo" rel="noreferrer noopener">the current performance cycle</a>.
Meta Platforms has admitted that officials from the Biden administration have been exerting pressure on Meta staff to <a target="_blank" href="https://www.benzinga.com/25/01/42931361/mark-zuckerberg-says-biden-officials-berated-meta-staff-as-they-refused-to-remove-true-content-it-just-got-to-this-pointthats-ridiculous" rel="noreferrer noopener">remove specific content from the platform</a>.
Hewlett Packard Enterprise Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HPE#NYSE">HPE</a>) has reportedly secured&nbsp;a deal worth over $1&nbsp;billion to supply&nbsp;servers optimized for artificial intelligence to&nbsp;<a target="_blank" href="https://www.benzinga.com/25/01/42931833/hewlett-packard-enterprise-strikes-1b-ai-server-deal-with-elon-musks-x-report" rel="noreferrer noopener">Elon Musk</a><a target="_blank" href="https://www.benzinga.com/25/01/42931833/hewlett-packard-enterprise-strikes-1b-ai-server-deal-with-elon-musks-x-report" rel="noreferrer noopener">‘s social media platform, X</a>.
Artificial Intelligence (AI)
On Tuesday,&nbsp;OpenAI&nbsp;announced the introduction of a beta feature named &#8220;Tasks&#8221; for&nbsp;ChatGPT. The &#8220;Tasks&#8221; feature allows ChatGPT users to schedule future tasks, such as setting reminders for events or arranging regular <a target="_blank" href="https://www.benzinga.com/25/01/42993561/is-openais-chatgpt-about-to-make-amazons-alexa-apples-siri-and-google-assistant-a-thing-of-the-past" rel="noreferrer noopener">updates like daily weather forecasts</a>.
A former&nbsp;OpenAI&nbsp;engineer's death has sparked controversy after his mother claimed he possessed sensitive documents about the artificial intelligence company's practices.&nbsp;Suchir Balaji, who had worked with&nbsp;Sam Altman‘s AI company, was found dead in his San Francisco apartment <a target="_blank" href="https://www.benzinga.com/tech/25/01/43023088/openai-whistleblower-suchir-balajis-mother-says-her-son-had-documents-against-sam-altmans-ai-startup-elon-musk-calls-it-extremely-concerning" rel="noreferrer noopener">in&nbsp;what authorities ruled a suicide</a>.

AAPL

TMUS

Consumer Tech News (Jan 13-17): Meta Plans Performance Based Job Cuts, Youtuber MrBeast Aims To Buy TikTok To Prevent Shutdown & More

These eleven large-cap stocks were the best performers in the last week. Are they in your portfolio?
<ol>
<li>Intra-Cellular Therapies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ITCI#NASDAQ">ITCI</a>) stock surged 33.02% after Johnson &amp; Johnson (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNJ#NYSE">JNJ</a>) entered into a definitive agreement to acquire the company for $132 per share in cash, valuing <a href="https://www.benzinga.com//node/42959061" target="_blank" rel="noreferrer noopener">it at approximately $14.6 billion</a>. A couple of analysts <a href="https://www.benzinga.com/quote/itci/analyst-ratings" target="_blank" rel="noreferrer noopener">downgraded the stock</a>.</li>
<li>MicroStrategy Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) stock grew 20.92% on <a href="https://www.benzinga.com//node/43062726" target="_blank" rel="noreferrer noopener">Bitcoin's continued upward momentum</a>.</li>
<li>Robinhood Markets, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>) stock upped 20.13% after announcing a $45 million <a href="https://www.benzinga.com//node/42971991" target="_blank" rel="noreferrer noopener">settlement with the SEC</a>.</li>
<li>Carvana Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVNA#NYSE">CVNA</a>) stock rose 19.39% after Hindenburg Research, which previously issued a short report on the stock, <a href="https://www.benzinga.com//node/43034961" target="_blank" rel="noreferrer noopener">announced it would close down</a>.</li>
<li>BeiGene, Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ONC#NASDAQ">ONC</a>) shares gained 18.88% last week.</li>
<li>JD.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JD#NASDAQ">JD</a>) shares were up 17.82% on the acceleration of China's economic activity, beating expectations for the last quarter of 2024 <a href="https://www.benzinga.com//node/43062957" target="_blank" rel="noreferrer noopener">as stimulus measures kicked in</a>.</li>
<li>Builders FirstSource, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLDR#NYSE">BLDR</a>) stock upped 17.26%.</li>
<li>SoFi Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOFI#NASDAQ">SOFI</a>) shares escalated 16.61%. The company disclosed a personal loan securitization agreement <a href="https://www.benzinga.com//node/43037459" target="_blank" rel="noreferrer noopener">with a global fixed-income manager on Thursday</a>.</li>
<li>Symbotic Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SYM#NASDAQ">SYM</a>) shares increased 16.30% after the company announced an agreement to acquire Walmart Inc.'s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>) <a href="https://www.benzinga.com//node/43026684" target="_blank" rel="noreferrer noopener">Advanced Systems and Robotics business</a>. Northland Capital Markets maintained an Outperform rating while raising the price <a href="https://www.benzinga.com/quote/sym/analyst-ratings" target="_blank" rel="noreferrer noopener">forecast to $41 from $35</a>.</li>
<li>XPeng Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPEV#NYSE">XPEV</a>) stock gained 15.63% last week after China's central bank <a href="https://www.benzinga.com//node/42974632" target="_blank" rel="noreferrer noopener">reportedly indicated</a> it would take measures to support economic growth. China's GDP growth data also <a href="https://www.benzinga.com//node/43062957" target="_blank" rel="noreferrer noopener">fueled optimism</a>.</li>
<li>United Rentals, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/URI#NYSE">URI</a>) stock upped 14.91% after announcing <a href="https://www.benzinga.com//node/42974291" target="_blank" rel="noreferrer noopener">it would acquire</a> H&amp;E Equipment Services, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HEES#NASDAQ">HEES</a>) for $4.8 billion. Additionally, Baird upgraded the stock <a href="https://www.benzinga.com/quote/uri/analyst-ratings" target="_blank" rel="noreferrer noopener">from Underperform to Neutral</a>.</li>
</ol>
Photo by JOCA_PH on Shutterstock

BLDR

CVNA

HEES

ITCI

MSTR

SOFI

XPEV

MicroStrategy, SoFi Technologies And Carvana Are Among Top Large-Cap Gainers Last Week (Jan 13-Jan 17): Are The Others In Your Portfolio?

TikTok went dark in the U.S. at around 10:30 p.m. ET on Saturday night, with a pop-up message on the widely used app expressing hope that President-elect Donald Trump will intervene after he takes office.
What Happened: ByteDance&#8216;s TikTok became inaccessible in the U.S. about an hour and a half before the scheduled shutdown. Usere were then met with a pop-up message that read, &#8220;Sorry, TikTok isn&#8217;t available right now.&#8221;
As per a report <a href="https://www.usatoday.com/story/money/2025/01/18/tiktok-banned-in-america/77728915007/">by</a> USA Today, the ban was implemented due to fears that Beijing might use the app to influence U.S. public opinion and collect sensitive user data, as the app is owned by a Chinese company.
&#8220;A law banning TikTok has been enacted in the U.S. Unfortunately, that means you can&#8217;t use TikTok for now. We are fortunate that President Trump has indicated that he will work with us on a solution to reinstate TikTok once he takes office. Please stay tuned!&#8221; the message read for users. 
&#8220;Just watched TikTok shut down in real time. First the likes and comments stopped working, then saving was disabled, then no new videos would load, then I was kicked out. The last TikTok I could see was of someone peacefully bopping along to if I were a fish,&#8221; one TikTok user wrote on X. 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">just watched TikTok shut down in real time. first the likes and comments stopped working, then saving was disabled, then no new videos would load, then I was kicked out. the last TikTok I could see was of someone peacefully bopping along to if I were a fish &#x1f614; <a href="https://t.co/9ywbY55k5j">pic.twitter.com/9ywbY55k5j</a>
&mdash; Kelli Boyle (@kellixboyle) <a href="https://twitter.com/kellixboyle/status/1880827587079078124?ref_src=twsrc%5Etfw">January 19, 2025</a></blockquote>
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Consequently,&nbsp;app store providers and internet&nbsp;hosting services could be hit with substantial penalties for making TikTok accessible to U.S. users.
Also Read: <a href="https://www.benzinga.com/tech/25/01/43074701/mark-cuban-open-to-financing-tiktok-alternative-based-on-bluesky-protocol">Mark Cuban Open To Financing TikTok Alternative Based on Bluesky Protocol</a>
Subsequent to the ban, TikTok was removed from both&nbsp;Apple and Google&#8216;s app stores.&nbsp;Oracle, a provider of cloud computing services, instructed its employees to turn off the servers that hosted TikTok.
Over 170 million monthly users in the U.S., for whom TikTok was a vital part of their daily routine, are now grappling with its absence.
Trump is said to be exploring ways to delay the ban. He said on Saturday that <a href="https://www.benzinga.com/25/01/43074714/donald-trump-may-grant-tiktok-a-90-day-reprieve-from-us-ban">he may provide a 90-day extension to TikTok to delay or prevent a ban in the U.S.</a>
However, TikTok did not hold out for a last-minute stay and chose to shut down instead. CEO Shou Chew expressed his gratitude to Trump in a video on the app and hinted at future developments, stating, &#8220;More to come.&#8221; Shou is expected to attend Trump&#8217;s inauguration on Monday.
Despite the ban, there is still a chance for TikTok to return to the U.S. market if Trump can find a solution, or if the app divests its U.S. operations. Chinese officials have reportedly considered the option of allowing Elon Musk to invest in or assume control of its U.S. operations.
Why It Matters: The sudden ban on TikTok in the U.S. has not only left millions of users without their favorite app, but also raised concerns about data privacy and international business operations. 
The potential involvement of Musk could signal a significant shift in the tech landscape. The future of TikTok in the U.S. remains uncertain, with potential legal and political battles on the horizon.
Read Next
<a href="https://www.benzinga.com/news/24/09/40866761/is-amazon-eyeing-tiktok-for-a-possible-acquisition" target="_blank" rel="noreferrer noopener">Is Amazon Eyeing TikTok For A Possible Acquisition?</a>

Social Media

TikTok Shuts Down in US, Vanishes From App Stores: Message Expresses Hope for Trump Intervention

The past week has been a whirlwind for&nbsp;Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), with stories ranging from personal anecdotes by CEO Tim Cook to potential shifts in the company&#8217;s credit card partnerships. Here&#8217;s a quick recap of the top five stories that made headlines.
Apple Watch to the Rescue
In a podcast interview, Apple CEO Cook revealed how the Apple Watch saved his father&#8217;s life. The device&#8217;s fall detection feature alerted emergency services when Cook&#8217;s father fell at home, leading to a timely intervention. Despite the positive outcome, Cook&#8217;s father was reportedly more upset about the door that had to be broken down by the emergency services.
<a href="https://www.benzinga.com/tech/25/01/43072685/tim-cook-reveals-apple-watch-saved-his-fathers-life-by-alerting-emergency-services-but-his-father-more-upset-because-of-this">Read the full article here.</a>
Apple&#8217;s Credit Card Partner Shuffle
Apple is reportedly in talks with&nbsp;Barclays Plc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BCS#NYSE">BCS</a>)&nbsp;and Synchrony Financial to replace Goldman Sachs as its credit card partner. The discussions have been ongoing for several months, but a final deal may still take time.
<a href="https://www.benzinga.com/media/25/01/43019382/apple-eyes-barclays-and-synchrony-to-replace-goldman-sachs-as-credit-card-partner-report">Read the full article here.</a>
Apple&#8217;s Declining Market Share in China
Apple&#8217;s market share in China is reportedly on the decline, according to supply chain analyst Ming-Chi Kuo. The decrease in iPhone shipments and the cautious approach to 2025 iPhone production plans are cited as reasons for this decline.
<a href="https://www.benzinga.com/tech/25/01/42931758/apple-staring-at-market-share-decline-in-china-amid-declining-iphone-shipments-top-analyst-flags-why-some-models-could-be-face-shipping-momentum-challenges">Read the full article here.</a>
Zuckerberg&#8217;s Criticism of Apple&#8217;s Innovation
Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>)&nbsp;CEO Mark Zuckerberg criticized Apple for its lack of innovation and restrictive policies. He suggested that Apple&#8217;s potential downfall could be imminent if it doesn&#8217;t adapt to the rapidly changing industry.
<a href="https://www.benzinga.com/25/01/42931722/steve-jobs-invented-the-iphone-and-now-theyre-justsitting-on-it-mark-zuckerberg-hints-at-apples-potential-downfall-amid-iphone-makers-random-rules">Read the full article here.</a>
Apple&#8217;s Stock Upside
A new analysis by Bank of America suggests that Apple&#8217;s manufacturing costs for its latest iPhone lineup could bolster the company&#8217;s margins. The study reveals significant cost reductions in Pro models and highlights the company&#8217;s strategic pricing approach across its product range.
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/01/43021026/apple-stock-has-moved-up-4-2-since-iphone-16-launched-analyst-says-it-has-another-8-upside-as-manufacturing-cost-decline-bolsters-cupertinos-margins">Read the full article here.</a>
Read Next:
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<li><a href="https://www.benzinga.com/25/01/43073132/cathie-wood-is-betting-big-on-this-ai-darling-and-no-its-not-nvidia">Cathie Wood&#8217;s Ark Invest Is Betting Big On This AI Darling And No It&#8217;s Not Nvidia</a></li>
</ul>
Photo courtesy: Unsplash
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/Rounak-Jain" target="_blank" rel="noreferrer noopener">Rounak Jain</a>

Apple Watch Saves Another Life, Credit Card Partnerships, And iPhone Market Share Woes: This Week In Appleverse

The week has been a rollercoaster ride in the world of economics and finance. From the U.S. dollar&#8217;s status as the world&#8217;s reserve currency to the surge in oil prices, there&#8217;s a lot to catch up on. Let&#8217;s dive into the top stories that made headlines.
Scott Bessent: Dollar Must Remain &#8216;World&#8217;s Reserve Currency&#8217;
President-elect Donald Trump&#8217;s Treasury pick,&nbsp;Scott Bessent, has pledged to uphold the U.S. dollar&#8217;s status as the world&#8217;s reserve currency. During his prepared testimony, Bessent emphasized the importance of productive investment over wasteful spending and the need to secure supply chains. He also highlighted the careful use of sanctions to meet national security needs.
<a href="https://www.benzinga.com/economics/macro-economic-events/25/01/43021014/trumps-treasury-pick-scott-bessent-urges-dollar-must-remain-worlds-reserve-currency-as-president-elect-reportedly-pushes-for-strategic-bitcoin-reserve">Read the full article here.</a>
5% Yields Fuel Demand For Long-Dated Treasury ETFs
Despite persistent bond market losses and rising macro uncertainties, the allure of 5% yields is driving investor inflows into long-dated Treasury ETFs. Last week, iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>) saw a staggering $1.5 billion in inflows.
<a href="https://www.benzinga.com/economics/macro-economic-events/25/01/42990155/5-yields-fuel-demand-treasury-etfs-despite-bond-market-pain-relief-rally">Read the full article here.</a>
Oil Prices Break $80, Reach 6-Month Highs
Oil prices surged this week, with West Texas Intermediate light crude rising about 4% to above $80 per barrel for the first time since mid-July 2024. This rally comes despite the announcement of a ceasefire in Gaza after a devastating 15-month war.
<a href="https://www.benzinga.com/economics/macro-economic-events/25/01/43017610/oil-prices-break-80-reach-6-month-highs-despite-israel-hamas-ceasefire-deal-why-is-crude-rallying">Read the full article here.</a>
China&#8217;s Economy Poised To Overtake US By 2035
Chinese economist Justin Lin Yifu reaffirmed his 31-year-old prediction that China's economy will surpass that of the U.S. within the next five to 10 years. He believes that U.S. economic growth has decelerated along with the sluggish growth in China&#8217;s annual gross domestic product.
<a href="https://www.benzinga.com/economics/macro-economic-events/25/01/42973023/chinas-economy-poised-to-overtake-us-by-2035-says-top-chinese-economist-who-made-the-bold-prediction-1994">Read the full article here.</a>
Ray Dalio Warns US Could &#8216;Go Broke&#8217; As Debt Soars
Ray Dalio, founder of Bridgewater Associates, warned that the United States could "go broke" due to mounting government debt problems. The U.S. currently accounts for 34.6% of global debt, which stands at $102 trillion. Dalio&#8217;s warning comes as U.S. debt has surged past $36 trillion, with interest payments exceeding $892 billion in fiscal year 2024.
<a href="https://www.benzinga.com/news/25/01/42965859/ray-dalio-warns-us-could-go-broke-as-debt-soars-urges-action-to-avert-crisis">Read the full article here.</a>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/25/01/43073132/cathie-wood-is-betting-big-on-this-ai-darling-and-no-its-not-nvidia">Cathie Wood&#8217;s Ark Invest Is Betting Big On This AI Darling And No It&#8217;s Not Nvidia</a></li>
</ul>
Photo courtesy: Shutterstock
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/ananya-gairola" target="_blank" rel="noreferrer noopener">Ananya Gairola</a>

Economics

iShares Trust Barclays 20+ Year Treasury Bond Fund

US Dollar, Treasury ETFs, Oil Prices, China's Economy, And Ray Dalio's US Debt Warning: This Week In Economics

The week has been a whirlwind of events, with President Joe Biden warning of a potential tech oligarchy, Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) extending support to wildfire-stricken California, Mary Trump criticizing her uncle&#8217;s wildfire comments, Steve Bannon targeting Elon Musk, and a significant shift in cannabis policy. Let&#8217;s dive into the details.
Biden&#8217;s Tech Oligarchy Warning
President Joe Biden, in his farewell speech, expressed concerns about the emergence of a tech oligarchy that could pose significant threats to the country. The President&#8217;s warning has sparked a debate, with figures like Bernie Sanders and Kevin O&#8217;Leary holding contrasting views on the role of America&#8217;s wealthiest individuals.
<a href="https://www.benzinga.com/tech/25/01/43046693/biden-warns-of-musk-bezos-zuckerberg-oligarchy-but-is-he-to-blame-mark-cuban-says-president-pushed-them-all-into-the-arms-of-trump">Read the full article here.</a>
Tesla&#8217;s Support for California Amid Wildfires
Despite his feud with Gavin Newsom, Tesla CEO Elon Musk has announced that the company will delay Cybertruck deliveries in California to aid in wildfire relief efforts. The trucks will be used to power Starlink internet terminals in areas that have lost connectivity due to the fires.
<a href="https://www.benzinga.com/general/space/25/01/42939786/despite-elon-musks-feud-with-gavin-newsom-tesla-rolls-out-support-for-california-amid-wildfires-with-cybertrucks-starlink-and-megapack-chargers">Read the full article here.</a>
Mary Trump&#8217;s Blast at Uncle&#8217;s Wildfire Comments
Mary Trump, President-elect Donald Trump&#8217;s estranged niece, has criticized her uncle&#8217;s controversial comments on the ongoing wildfires in southern California. The fires have led to the death of at least 16 people and the evacuation of over 153,000 residents.
<a href="https://www.benzinga.com/news/25/01/42935659/mary-trump-blasts-uncle-over-wildfire-comments-if-donald-trump-can-profit-from-your-death-he-will-facilitate-it">Read the full article here.</a>
Steve Bannon&#8217;s Attack on Elon Musk
Steve Bannon, former adviser to the Trump White House, has vowed to expel Elon Musk from the MAGA movement, labeling him as &#8220;truly evil&#8221;. Bannon&#8217;s threat comes despite Musk&#8217;s substantial financial support to President-elect Donald Trump&#8217;s return to the White House.
<a href="https://www.benzinga.com/news/25/01/42935180/steve-bannon-targets-elon-musk-pledges-to-expel-him-from-maga-movement-he-is-a-truly-evil-guy">Read the full article here.</a>
Shift in Cannabis Policy
The National Cannabis Roundtable (NCR) and the U.S. Cannabis Council (USCC) have announced a merger, aiming to represent the cannabis industry more effectively. The newly formed U.S. Cannabis Roundtable will address the 119th Congress and the incoming Trump administration, representing businesses operating in 38 states.
<a href="https://www.benzinga.com/government/regulations/25/01/43042694/president-trumps-endorsement-represents-a-sea-change-in-cannabis-policy-says-trulieve-ceo-as-advocacy-groups-join-forces">Read the full article here.</a>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/25/01/43073132/cathie-wood-is-betting-big-on-this-ai-darling-and-no-its-not-nvidia">Cathie Wood&#8217;s Ark Invest Is Betting Big On This AI Darling And No It&#8217;s Not Nvidia</a></li>
</ul>
Photos courtesy: Shutterstock
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/ananya-gairola" target="_blank" rel="noreferrer noopener">Ananya Gairola</a>

General

Biden's Tech Oligarchy Warning, Tesla's Wildfire Support, Bannon's Musk Attack, And Cannabis Policy Shift: This Week In Politics

When it comes to modern politics, it's not just about policies – it's about how you sell them. And according to billionaire entrepreneur Mark Cuban, Democrats and Republicans are playing vastly different games when it comes to winning over voters.
Cuban's comments came during a <a href="https://bsky.app/profile/mcuban.bsky.social/post/3lfiyz2sycs2d">discussion</a> on Bluesky about job growth under President Joe Biden. While Biden boasts impressive numbers – 16.1 million jobs <a href="https://www.whitehouse.gov/briefing-room/statements-releases/2025/01/10/statement-from-president-joe-biden-on-the-december-2024-jobs-report/">created</a>, more than the full terms of Trump, Obama or George W. Bush–Cuban thinks these numbers aren't connecting with everyday people the way they should.
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</ul>
The conversation started when Peter Baker, chief White House Correspondent for The New York Times and MSNBC analyst, shared an Axios article that highlighted how more jobs have been created under Biden than during the full terms of Trump, Obama or Bush 43.
In response, journalist Kara Swisher said, &#8220;It is truly about who tells a better story – or really a story people want to hear and makes them see what they believe rather than believe what they see.&#8221;
Cuban replied, &#8220;The reality is that Salesmanship is the differentiation between the two parties. The Dems couldn&#8217;t sell dollar bills for 50c. Trump has found his audience and can sell them dollar bills for $5. When everything is a story the algorithm flashes at you as you scroll, you better be selling fast.&#8221;
See Also: Built on the trusted network of Fortune 500 companies, <a href="https://www.benzinga.com/money/web3-enabler-the-most-boring-blockchain-company-partners-with-salesforce">this blockchain company partners with Salesforce to uproot lengthy and expensive B2B transactions, and you can invest with just $100.</a>
<h2 class="wp-block-heading">The Numbers Don't Lie</h2>
Axios reported that the U.S. economy has added more jobs under Biden than any of his recent predecessors. In 2024 alone, 2.23 million jobs were created, <a href="https://www.benzinga.com/economics/macro-economic-events/25/01/42912480/us-economy-adds-256000-payrolls-in-december-as-tight-labor-market-tops-forecasts-dollar-treasury-yields-spike">including 256,000 in December</a>. Here's how it stacks up:
<ul>
<li>Joe Biden (2021–2024): +16.1 million jobs</li>
<li>Donald Trump (2017–2020): -2.1 million jobs (pandemic losses; pre-pandemic gains: +6.6 million)</li>
<li>Barack Obama (2009–2016): +7.1 million jobs</li>
<li>George W. Bush (2001–2008): +5.2 million jobs</li>
</ul>
By comparison, Bill Clinton's presidency saw a whopping 23 million jobs added. However, Biden's annual average growth is higher, driven by the post-pandemic recovery. Despite these numbers, Cuban argues that the Democrats are failing to share this message and connect with voters.
Trending: <a href="https://www.benzinga.com/money/qnetic-2">This 12,000 RPM Spinning Battery With Over $100 Million In LOIs Could Be The Missing Link For Green Energy — Here&#8217;s Why Early Investors Are Flocking To Invest Before Funding Closes</a>
<h2 class="wp-block-heading">Trump's Masterclass in Selling</h2>
Trump, on the other hand, has mastered the art of selling. He understands his audience and crafts simple, catchy ideas that stick. From rallies to social media posts, he's turned complicated issues into statements his supporters can get behind.
Cuban's metaphor about dollar bills stresses the stark difference in approach. While Trump can persuade his followers to buy into his vision – even at a premium – the Democrats struggle to make their case even when the value is obvious.
After all, Trump famously said in 2016, &#8220;I could stand in the middle of Fifth Avenue and shoot somebody and I wouldn&#8217;t lose any voters. It&#8217;s, like, incredible.&#8221;
Cuban's critique is a wake-up call for Democrats to rethink their approach. Biden's job growth numbers are strong, but without a good story to back them up, they're being drowned out by louder, flashier messages from Republicans.
In a world driven by algorithms and attention spans measured in seconds, the ability to sell a story is a necessity. As Cuban points out, that&#8217;s where the Democrats are failing.
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<li>According to Juniper Research, the total value of B2B cross-border payments stored on the blockchain is projected to exceed $4.4 trillion — <a href="https://www.benzinga.com/money/web3-enabler-future-of-enterprise-transactions">Join the first company to bring blockchain payments to Salesforce early with just $100.</a></li>
</ul>

Mark Cuban Says Trump's Messaging Skills Overshadow Biden's 16 Million Jobs–'He Can Sell Them Dollar Bills For $5'

Online trading platform Robinhood reportedly transferred a whopping 131 million Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) within the span of an hour, sparking intrigue and <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42256959/dogecoin-trading-volume-skyrockets-76-indicating-potential-major-price-upswing">speculation among crypto enthusiasts</a>.
What Happened: According to <a href="https://whale-alert.io/transaction/dogecoin/942ce5c784b2e9f4d6c5b0fde2c028767d54eefd13c00068b10c71c543c80935">data</a>, this massive amount of DOGE was moved in two significant transactions.
The initial&nbsp;transaction involved the transfer of&nbsp;80,452,117 DOGE, valued at approximately&nbsp;$33,127,063, from Robinhood to an&nbsp;unidentified wallet. 
The subsequent transaction witnessed&nbsp;51,954,195 DOGE, worth around $21,334,106,&nbsp;being transferred from Robinhood to leading cryptocurrency exchange,&nbsp;Coinbase.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">&#x1f6a8; &#x1f6a8; 80,452,117 <a href="https://twitter.com/hashtag/DOGE?src=hash&amp;ref_src=twsrc%5Etfw">#DOGE</a> (33,127,063 USD) transferred from <a href="https://twitter.com/hashtag/Robinhood?src=hash&amp;ref_src=twsrc%5Etfw">#Robinhood</a> to unknown wallet<a href="https://t.co/FV4f1wCkh1">https://t.co/FV4f1wCkh1</a>
&mdash; Whale Alert (@whale_alert) <a href="https://twitter.com/whale_alert/status/1880312975711461739?ref_src=twsrc%5Etfw">January 17, 2025</a></blockquote>
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These considerable transactions could&nbsp;be associated with whales or&nbsp;institutional entities. The transfer to Coinbase might imply&nbsp;a potential sale or preparation&nbsp;for trading activity. 
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42497156/dogecoin-poised-for-85-surge-as-whales-accumulate-130-billion-doge">Dogecoin Poised For 85% Surge As Whales Accumulate 130 Billion DOGE</a>
Conversely,&nbsp;the transfer to an unknown&nbsp;wallet could suggest private custody or acquisition&nbsp;by a large holder or&nbsp;whale. Nevertheless, the precise motive behind the transfers remains a mystery.
Why It Matters: These recent transactions underscore the increasing activity and interest in DOGE. The transfers could potentially indicate a shift in the market dynamics, with large players possibly moving their assets for various strategic reasons. However, without concrete information, these remain speculative assumptions.
The movement of such a large amount of DOGE also highlights the role of Robinhood as a significant player in the crypto trading space. The platform&#8217;s involvement in these transactions could have implications for its user base and the broader crypto market.
Read Next
<a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42380572/dogecoins-whopping-60-9b-movement-in-24-hours-a-bullish-sign" target="_blank" rel="noreferrer noopener">Dogecoin's Whopping 60.9B Movement In 24 Hours: A Bullish Sign?</a>

$DOGE

Robinhood Moves 131 Million DOGE In An Hour: What's Happening?

Billionaire hedge fund manager Stanley Druckenmiller regrets the decision to sell his fund&#8217;s stake in Nvidia Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), a frontrunner in the artificial intelligence sector.
What Happened: In an interview with Bloomberg last year, Druckenmiller confessed that offloading Nvidia was a &#8220;big mistake.&#8221; The decision was primarily driven by the stock&#8217;s valuation, given that its price had tripled within a span of a year.
Nvidia, a significant player in the AI realm, has been registering&nbsp;record revenue and profit growth,&nbsp;courtesy of its industry-leading graphics processing unit (GPU) technology. 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24NVDA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$NVDA</a> Druckenmiller says selling Nvidia was a &quot;big mistake.&quot; &quot;I&#39;ve made so many mistake in my investment career, one of them was I sold all my Nvidia probably somewhere between $800 and $950.&quot; &quot;Yes, I think Nvidia is a wonderful company and were the price to come down we&#39;d get… <a href="https://t.co/egL9SBZJCA">pic.twitter.com/egL9SBZJCA</a>
&mdash; Hedge Vision (@HedgeVision) <a href="https://twitter.com/HedgeVision/status/1846605054251348468?ref_src=twsrc%5Etfw">October 16, 2024</a></blockquote>
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Despite Druckenmiller&#8217;s remorse, other billionaire investors like Ken Griffin of Citadel and David Shaw of D.E. Shaw have also downsized their Nvidia holdings.&nbsp;David Tepper of Appaloosa Management&nbsp;offloaded a substantial chunk of his Nvidia stake due to uncertainties surrounding long-term performance.
Also Read: <a href="https://www.benzinga.com/markets/25/01/42935107/peter-lynchs-money-making-advice-when-things-go-from-terrible-to-semi-terrible-to-ok-you-can-make-a-lot-of-money">Peter Lynch&#8217;s Money-Making Advice: &#8216;When Things Go From Terrible to Semi-Terrible to OK, You Can Make a Lot of Money&#8217;</a>
While Nvidia continues to reign supreme in the GPU market, several of its clients,&nbsp;including Microsoft, Alphabet, Amazon, Tesla,&nbsp;and Meta Platforms, are venturing into chip development. This could potentially decelerate Nvidia&#8217;s growth due to heightened competition.
Despite the promising outlook, some speculate that the stock&#8217;s recent surge is not entirely rooted in solid fundamentals, but is more likely a result of clever marketing strategies in the run-up to the Blackwell launch.
Why It Matters: The regret expressed by Druckenmiller underscores the potential of Nvidia and the AI industry. Despite the stock&#8217;s high valuation and increased competition, Nvidia&#8217;s innovative technology and potential revenue growth make it a key player in the market. 
However, the decisions of other billionaire investors to reduce their positions highlight the uncertainties surrounding the company&#8217;s long-term performance. 
Read Next
<a href="https://www.benzinga.com/markets/24/12/42499608/investment-guru-peter-lynch-if-you-cant-explain-to-an-11-year-old-in-2-minutes-or-less-why-you-own-t" target="_blank" rel="noreferrer noopener">Investment Guru Peter Lynch: ‘If You Can&#8217;t Explain To An 11-Year-Old In 2 Minutes Or Less Why You Own The Stock, You Shouldn&#8217;t Own It&#8217;</a>
Image: Wikimedia Commons

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Billionaire Stanley Druckenmiller: Selling This AI Stock Was a 'Big Mistake'

President-elect Donald Trump said Saturday that he may provide a 90-day extension to ByteDance-owned TikTok to delay or prevent a ban in the U.S.
What Happened: During an interview with NBC on Saturday, Trump suggested that he is &#8220;most likely&#8221; to grant TikTok a 90-day extension from a potential U.S. ban.
"I think that would be, certainly, an option that we look at. The 90-day extension is something that will be most likely done, because it's appropriate. You know, it's appropriate. We have to look at it carefully. It's a very big situation," Trump said.
This extension would provide ByteDance additional time to sell to a non-Chinese buyer, in compliance with the law enacted by President Joe Biden last year. However, Trump&#8217;s final decision on this matter is still pending.
As reported <a href="https://www.nbcnews.com/politics/donald-trump/trump-likely-give-tiktok-90-day-extension-avoid-ban-rcna188258">by</a> NBC News, the existing deadline for TikTok&#8217;s compliance is midnight Sunday. An extension announced on Monday might not be able to prevent the app from going offline for at least a day. The future of TikTok has been a major concern during the last days of the Biden administration.
The Biden administration has consistently stated that it does not intend to enforce the law, thereby shifting the responsibility to the incoming Trump administration. However, TikTok expressed apprehensions on Friday that the assurances from the White House might&nbsp;not be enough to prevent&nbsp;the app from being shut down.
Also Read: <a href="https://www.benzinga.com/25/01/43073056/tiktok-says-it-will-be-forced-to-go-dark-in-us-on-jan-19-after-supreme-court-upholds-ban">TikTok Says It Will Be &#8216;Forced To Go Dark&#8217; In US On Jan 19 After Supreme Court Upholds Ban</a>
Trump&#8217;s potential support for TikTok marks a significant departure from his previous&nbsp;stance during his first term,&nbsp;when he attempted to ban the app along with&nbsp;the Chinese messaging app WeChat.&nbsp;
Meanwhile, on Saturday, the Biden administration called TikTok&#8217;s statement on going dark on Sunday a &#8220;stunt.&#8221;
&#8220;It is a stunt, and we see no reason for TikTok or other companies to take actions in the next few days before the Trump Administration takes office on Monday,&#8221; White House Press Secretary Karine Jean-Pierre told Reuters. 
&#8220;We have laid out our position clearly and straightforwardly: actions to implement this law will fall to the next administration. So TikTok and other companies should take up concerns with them.&#8221;
&#8220;President Biden&#8217;s position on TikTok has been clear for months, including since Congress sent a bill in overwhelming, bipartisan fashion to the President&#8217;s desk: TikTok should remain available to Americans, but simply under American ownership or other ownership that addresses the national security concerns identified by Congress in developing this law,&#8221; Jean-Pierre added in the statement.
Why It Matters: TikTok&#8217;s potential ban in the US has been a contentious issue, with the app&#8217;s fate hanging in the balance during the transition between the Biden and Trump administrations. 
The proposed 90-day extension could provide much-needed respite for TikTok and its parent company, ByteDance, allowing them additional time to comply with US regulations. 
However, the future of the app in the US market remains uncertain until a final decision is made by the incoming Trump administration.
Read Next
<a href="https://www.benzinga.com/news/24/09/40866761/is-amazon-eyeing-tiktok-for-a-possible-acquisition">Is Amazon Eyeing TikTok For A Possible Acquisition?</a>
Image: Shutterstock

Trump Floats Possibility of 90-Day Reprieve From TikTok Ban

Billionaire entrepreneur Mark Cuban has shown interest in funding a TikTok alternative. This move comes in light of the potential shutdown of TikTok this weekend, with Cuban considering leveraging the protocol developed by microblogging site Bluesky.
What Happened: Cuban is contemplating this step in response to legislation requiring TikTok to sell its platform or face a nationwide ban. ByteDance, the Chinese parent company of TikTok, has continually asserted that it is not for sale.
In a TikTok video on his account Tuesday, Cuban proposed this&nbsp;alternative version of the video-sharing&nbsp;app. 
He said, &#8220;There&#8217;s an app called Bluesky and it&#8217;s built on the AT Protocol. I would be open to investing in supporting anybody — or somebody who creates a TikTok replacement built on the AT Protocol.&#8221;
Bluesky, a decentralized social media platform, enables users to host their data on servers not owned by the company. The platform, created by Twitter founder Jack Dorsey in 2019, has expanded to a user base of over 27 million people, <a href="https://gizmodo.com/mark-cuban-says-hell-back-a-tiktok-alternative-built-off-blueskys-protocol-2000551599">reports</a> Gizmodo.
Also Read: <a href="https://www.benzinga.com/25/01/43073056/tiktok-says-it-will-be-forced-to-go-dark-in-us-on-jan-19-after-supreme-court-upholds-ban">TikTok Says It Will Be &#8216;Forced To Go Dark&#8217; In US On Jan 19 After Supreme Court Upholds Ban</a>
However, the fate of TikTok&#8217;s U.S. app remains uncertain. Reports suggest that the company is seeking a last-minute reprieve from incoming President Donald Trump. TikTok CEO Shou Chew is scheduled to attend Trump&#8217;s inauguration, and Trump is reportedly contemplating an executive order to save the platform.
Why It Matters: The potential shutdown of TikTok in the U.S. has sparked interest in alternatives to the popular video-sharing platform. Cuban&#8217;s proposal of a TikTok alternative based on Bluesky&#8217;s protocol could potentially offer a new avenue for social media users, especially with the growing concerns over data privacy. 
The move also highlights the increasing interest in decentralized social media platforms, which offer users more control over their data. 
The unfolding events surrounding TikTok&#8217;s future in the U.S. will undoubtedly have significant implications for the social media landscape.
Read Next
<a href="https://www.benzinga.com/news/24/09/40866761/is-amazon-eyeing-tiktok-for-a-possible-acquisition">Is Amazon Eyeing TikTok For A Possible Acquisition?</a>

Mark Cuban Open To Financing TikTok Alternative Based on Bluesky Protocol

The cryptocurrency market saw a notable surge on Saturday. Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) and Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) all experienced a rise in value, as traders anticipate a potential <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42379899/trump-fuels-bitcoin-rally-but-where-will-it-go-next-year">&#8216;Trump bump&#8217; with the upcoming second Donald Trump presidency.</a>
What Happened: The crypto market sprung to life on the final trading day before the Trump&nbsp;administration takes over. Bitcoin spearheaded the rally, surging 2.81% and almost touching&nbsp;$104,987 per token. Ethereum (ETH&nbsp;-0.22%) and Dogecoin (DOGE -0.16%) also saw gains.
There is widespread speculation that President-elect Trump will prioritize cryptocurrency, with rumors of an executive order on his first day in office. This might include the appointment of a more crypto-friendly chairman for the Securities and Exchange Commission.
However, traders are advised to be cautious of the speed of policy changes in Washington. While changes to the industry&#8217;s rules may require congressional action, this doesn&#8217;t necessarily translate to a direct value gain for meme coins and blockchain tokens.
Instead, it could lead to&nbsp;assets like stocks and bonds&nbsp;trading&nbsp;on the blockchain and more&nbsp;business formation taking place on the blockchain.
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42499633/exclusive-eric-trump-declares-bitcoin-the-future-details-tax-free-crypto-goals-for-trump-presidency">EXCLUSIVE: Eric Trump Declares Bitcoin The Future, Details Tax-Free Crypto Goals For Trump Presidency</a>
Despite the current speculation-driven surge, the market may face disappointment if the news doesn&#8217;t meet high expectations. 
The Federal Reserve cannot&nbsp;make Bitcoin or any other&nbsp;cryptocurrency a reserve currency without&nbsp;Congressional action, which seems unlikely in the current political climate.
The market movement today is largely driven by speculation that Trump will be beneficial for the crypto market. However, similar speculation in 2021 led to a market crash in 2022, cautioning investors against buying tokens based solely on speculation.
Why It Matters: The potential for a &#8216;Trump bump&#8217; in the cryptocurrency market is significant, given the President-elect&#8217;s rumored focus on this sector. 
However, the history of speculation-driven surges and crashes in the crypto market serves as a warning to investors. The potential for policy changes under the new administration could have far-reaching implications for the industry, but these changes are uncertain and could take time to implement. 
Read Next
<a href="https://www.benzinga.com/markets/cryptocurrency/24/07/40001426/trump-aims-to-make-us-crypto-capital-of-the-planet-well-get-it-done" target="_blank" rel="noreferrer noopener">Trump Aims To Make US ‘Crypto Capital Of The Planet': ‘We'll Get It Done'</a>
Image: Midjourney

$ETH

Bitcoin, Ethereum and Dogecoin Spike on Optimism Over New Trump Presidency

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