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PMI Group (OTC:PMIR) Stock, Option Chain

PMI Group Inc provides residential mortgage insurance coverage in the United States. It is designed to promote home ownership and strengthen communities.

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PMI Group Inc

Citigroup analyst Alexander Hacking maintains Nucor (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NUE#NYSE">NUE</a>) with a Buy and lowers the price target from $240 to $160.

News

Price Target

Analyst Ratings

Citigroup Maintains Buy on Nucor, Lowers Price Target to $160

Piper Sandler analyst Derek Podhaizer initiates coverage on Ormat Technologies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORA#NYSE">ORA</a>) with a Neutral rating and announces Price Target of $78.

Initiation

Piper Sandler Initiates Coverage On Ormat Technologies with Neutral Rating, Announces Price Target of $78

Telsey Advisory Group analyst Dana Telsey reiterated the Outperform rating on Birkenstock Holding plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BIRK#NYSE">BIRK</a>) <a target="_blank" href="https://www.benzinga.com/quote/BIRK/analyst-ratings" rel="noreferrer noopener">with a price forecast of $70.</a>
Yesterday, the company reported fourth-quarter&nbsp;fiscal 2024 results, with revenue growing&nbsp;22% year over year on a reported and constant currency <a target="_blank" href="https://www.benzinga.com/news/earnings/24/12/42549753/birkenstock-q4-earnings-beat-revenue-surge-margin-pressure-more" rel="noreferrer noopener">basis to 456 million euros.</a>
The analyst notes that management is observing positive momentum across the entire closed-toe category, ranging from clogs to boots.
In the U.S., Birkenstock is experiencing strong demand for clogs, particularly for the Boston and Tokyo silhouettes, as well as the newly introduced Lutry, which continues to perform well.
The solid demand for clogs has also positively impacted sales of the Zermatt slipper, which, despite being part of the product line for over five years, is now seeing increased demand due to the halo effect from the popularity of clogs.
Also Read: <a target="_blank" href="https://www.benzinga.com/general/biotech/24/12/42597251/roche-prothena-partnered-mid-stage-parkinsons-trial-misses-primary-endpoint-but-cling-on-signs-of-clinical-benefits" rel="noreferrer noopener">Roche-Prothena Partnered Mid-Stage Parkinson&#8217;s Trial Misses Primary Endpoint, But Cling On Signs Of Clinical Benefits</a>
In Europe, lace-up styles and boots are outpacing other product categories. However, the analyst highlights that while closed-toe shoes are performing strongly, sandals still experienced double-digit growth during the same period.
Despite a challenging global macroeconomic environment, the brand continued to experience solid demand across various geographies and sales channels, successfully executing its strategy, Telsey notes.
The company sees FY25 revenue&nbsp;growth of 15% – 17% in constant currency, adjusted EBITDA margin of 30.8% – 31.3% (up 50 basis points) and capital&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">expenditures of around 80 million euros</a>.
The analyst highlights that the company&#8217;s FY25 outlook aligns with the long-term expectations initially communicated during its IPO process in late 2023.
With consumers becoming more selective in their purchases, the analyst views Birkenstock as a brand well-positioned to maintain its success in the market due to its high-end lifestyle positioning, offering comfort and a frictionless walking experience, which creates a competitive edge that is difficult to replicate.
The analyst states that the sales estimate for FY24 has been updated to 2.12 billion euros, reflecting a 17.2% year-over-year increase, slightly higher than the previous estimate of 2.09 billion euros, which represented a 15.9% increase.
Additionally, the forecast for FY24 adjusted EBITDA has been revised to 661.5 million euros, a slight increase from the prior estimate of 654.2 million euros.
Price Action: BIRK shares are trading lower by 0.98% to $56.60 at last check Thursday.
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</ul>
Image via Shutterstock.

Analyst Color

Equities

Reiteration

Markets

Trading Ideas

General

BIRK

Birkenstock's High-end Lifestyle Positioning Provides Competitive Edge That Is Difficult To Replicate: Analyst

Citigroup analyst Alexander Hacking maintains Cleveland-Cliffs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLF#NYSE">CLF</a>) with a Neutral and lowers the price target from $12.5 to $11.

Citigroup Maintains Neutral on Cleveland-Cliffs, Lowers Price Target to $11

CVS Health Corporation&#8217;s stock (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVS#NYSE">CVS</a>) is trading lower Thursday amid news of a lawsuit filed by the U.S. Department of Justice against CVS Pharmacy Inc., a subsidiary of CVS Health. Here&#8217;s <a href="https://www.benzinga.com/general/health-care/24/12/42569500/cvs-faces-doj-lawsuit-alleging-violations-of-controlled-substances-act-and-false-claims-act-over-opioid-prescriptions">what you need to know.</a>
What To Know: The DOJ alleges that CVS violated the Controlled Substances Act by filling unlawful prescriptions for opioid combinations and excessive quantities since 2013. Additionally, the DOJ accuses the company of breaching the False Claims Act by seeking federal reimbursements for these prescriptions. The lawsuit is part of broader scrutiny related to the opioid crisis.
In response, CVS Health denied the allegations, with company spokesperson Amy Thibault asserting that all prescriptions were FDA-approved and issued by licensed practitioners. Despite these claims, the legal action opens the company to potential civil penalties for each unlawful prescription and damages related to federally reimbursed prescriptions.
CVS Price Action: CVS Health Corporation shares were down 2.66% at $44.08 at the time of writing, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro.</a>
<figure class="wp-block-image size-large is-resized"><a href="https://benzinga.slack.com/archives/D072651PB4K/p1733167806337199"><img loading="lazy" decoding="async" width="1024" height="525" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/19120128/CVS-1024x525.png" alt="" class="wp-image-700225" style="width:479px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/19120128/CVS-1024x525.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/19120128/CVS-300x154.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/19120128/CVS-768x393.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/19120128/CVS.png 1179w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
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Image Via Shutterstock.

Movers

CVS Shares Are Falling Today: What's Going On?

Raymond James analyst Michael Rose upgrades U.S. Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USB#NYSE">USB</a>) from Market Perform to Outperform and announces $57 price target.

Upgrades

Raymond James Upgrades U.S. Bancorp to Outperform, Announces $57 Price Target

Micron Technology Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>) analysts lowered near-term price targets on Thursday following the company&#8217;s first-quarter earnings results. Despite the disappointing quarter, analysts generally remain optimistic for the long term, especially in the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/41055252/microns-ai-driven-hbm-demand-and-data-center-growth-to-fuel-stock-upside-analysts-s">High-Bandwidth Memory market</a>.
Micron Q1 Earnings: Micron reported <a href="https://www.benzinga.com/news/earnings/24/12/42564387/micron-q1-earnings-revenue-miss-eps-beat-soft-guidance-sinks-shares-as-consumer-markets-turn-weaker-in-near-term">mixed first-quarter results</a>, beating adjusted earnings estimates of $1.76 per share by 3 cents, but narrowly missing on revenue. 
Micron also issued weak guidance for the current quarter. The company said it expects second-quarter revenue of $7.9 billion, plus or minus $200 million, versus estimates of $9 billion. Micron sees second-quarter adjusted earnings of $1.43 per share, plus or minus 10 cents per share, versus estimates of $1.92 per share.
Although the company noted that consumer-oriented markets were weaker in the near term, Micron laid out expectations for a return to growth in the second half of its fiscal year.
Goldman Sachs Reiterates Buy: Goldman Sachs analyst Toshiya Hari <a href="https://www.benzinga.com/analyst-stock-ratings">reiterated Buy</a> following the print, but cut the price target from $145 to $128.
The analyst acknowledged that he was wrong on Micron over the past six months and cut estimates accordingly. However, Hari expects strength in High-Bandwidth Memory and resiliency in server DRAM to more than offset weakness in other areas moving forward. 
&#8220;We see the stock's recent pullback, if anything, as an opportunity to add to positions as we continue to envision a) growth in AI compute &#8230; initially in the core Data Center but ultimately at the Edge, b) market share gains for Micron in the high-margin HBM and eSSD markets, and c) supply-side discipline on the part of Micron and its peers,&#8221; the Goldman analyst said.
Wedbush Maintains Outperform: Wedbush analyst Matt Bryson maintained Micron with an Outperform and lowered the price target from $140 to $125
The Wedbush analyst believes demand headwinds due to Blackwell delays slowing AI server installations and customers moderating pricing will be short-lived. Bryson noted that he believes demand is set to improve in the second quarter. 
&#8220;While MU&#8217;s FQ2 outlook is clearly disappointing, we see many of the factors weighing on MU&#8217;s guidance as short-term in nature,&#8221; the analyst said.
Bryson&#8217;s new target is based on a price-to-earnings multiple of 9x applied to the firm&#8217;s fiscal year 2026 estimates.
Check This Out: <a href="https://www.benzinga.com/24/12/42594797/trump-wants-to-get-rid-of-the-debt-ceiling-30-year-treasury-bonds-fall-to-2024-lows-stocks-cut-gains">Trump Would &#8216;Lead The Charge&#8217; To Scrap Debt Ceiling: 30-Year Treasury Bonds Slide To 2024 Lows, Stocks Cut Gains</a>
Rosenblatt Reiterates Buy: Rosenblatt analyst Hans Mosesmann reiterated Micron with a Buy rating and maintained a Street-high price target of $250, despite acknowledging that the company&#8217;s near-term outlook was &#8220;significantly below&#8221; the firm&#8217;s expectations.
&#8220;We are buyers of MU shares on the likely reset today, which is driven by the more non-strategic storage area and NAND,&#8221; Mosesmann said. 
The Rosenblatt analyst expects Micron to continue to gain share in the High-Bandwidth Memory segment as power efficiency becomes increasingly important. 
Mosesmann&#8217;s Street-high price target is based on a mid-teens price-to-earnings multiple on fiscal year 2026 earnings estimates of $18 per share. 
BofA Downgrades To Neutral: BofA Securities analyst Vivek Arya took the most negative view of Micron&#8217;s earnings, downgrading shares from Buy to Neutral and lowering the price target from $125 to $110.
&#8220;We were below consensus heading into MU&#8217;s FQ1 (Nov) results, but are reducing estimates again as GM expected to stay weak in Q2 and even Q3,&#8221; Arya said. 
Although the analyst highlighted strong data center and High-Bandwidth Memory trends, he&#8217;s concerned that weakness in PC and phone markets will continue to put pressure on memory pricing. 
The BofA analyst lowered fiscal year 2025 estimates by 5% and fiscal year 2026 estimates by 11%, and arrived at a new price target of $110 by putting a 2x multiple on 2026 price-to-book estimates. 
MU Price Action: Micron shares were down 16.50% at $86.76 at the time of publication Thursday, according to <a href="http://pro.benzinga.com">Benzinga Pro</a>.
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Photo: Courtesy of Micron

Earnings

Downgrades

Tech

4 Micron Analysts Size Up Q1 Earnings: 'An Opportunity To Add'?

Raymond James analyst Michael Rose upgrades Business First Bancshares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BFST#NASDAQ">BFST</a>) from Market Perform to Outperform and announces $30 price target.

BFST

Raymond James Upgrades Business First Bancshares to Outperform, Announces $30 Price Target

Piper Sandler analyst James Fish maintains Rubrik (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RBRK#NYSE">RBRK</a>) with a Overweight and raises the price target from $72 to $83.

RBRK

Piper Sandler Maintains Overweight on Rubrik, Raises Price Target to $83

Piper Sandler analyst Harsh Kumar maintains Micron Technology (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>) with a Overweight and lowers the price target from $150 to $120.

Piper Sandler Maintains Overweight on Micron Technology, Lowers Price Target to $120

Piper Sandler analyst Ryan Todd maintains Exxon Mobil (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) with a Overweight and lowers the price target from $138 to $127.

Piper Sandler Maintains Overweight on Exxon Mobil, Lowers Price Target to $127

BTIG analyst Julian Harrison initiates coverage on Avalo Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVTX#NASDAQ">AVTX</a>) with a Buy rating and announces Price Target of $40.

AVTX

BTIG Initiates Coverage On Avalo Therapeutics with Buy Rating, Announces Price Target of $40

Piper Sandler analyst Ryan Todd maintains TotalEnergies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TTE#NYSE">TTE</a>) with a Neutral and lowers the price target from $77 to $62.

Piper Sandler Maintains Neutral on TotalEnergies, Lowers Price Target to $62

BTIG analyst Julian Harrison initiates coverage on Cartesian Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RNAC#NASDAQ">RNAC</a>) with a Buy rating and announces Price Target of $42.

RNAC

BTIG Initiates Coverage On Cartesian Therapeutics with Buy Rating, Announces Price Target of $42

Piper Sandler analyst Ryan Todd maintains Shell (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHEL#NYSE">SHEL</a>) with a Overweight and lowers the price target from $82 to $72.

SHEL

Piper Sandler Maintains Overweight on Shell, Lowers Price Target to $72

Robert Kiyosaki, author of Rich Dad, Poor Dad, has always played the game differently. Known for embracing debt – a lot of debt – he revealed in September 2023 that he's now <a href="https://www.benzinga.com/real-estate/24/01/36802983/robert-kiyosaki-rich-dad-poor-dad-author-says-he-owns-12-000-properties-acquired-with-debt-the-more">$1.2 billion in the red.&nbsp;</a>
But don't think he's worried. For Kiyosaki, debt isn't a burden; <a href="https://www.benzinga.com/personal-finance/24/06/39420345/robert-kiyosaki-owns-15-000-houses-says-i-would-rather-use-debt-and-pay-no-taxes">it's leverage</a>. He proudly declares he's a billionaire because he's in debt. Kiyosaki doesn't see debt as bad for everyone – as long as they know how to manage it. But, in terms of the nation, it's a different story. His perspective sharply critiques how the U.S. economy handles its ballooning debt.
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In an August post on X, Kiyosaki shared:
"HOW MUCH is a trillion? A trillion seconds was 31,688 years ago. America goes a trillion $ in debt every 100 days. Do you know why you must buy gold, silver and Bitcoin?"
The numbers don't lie. According to <a href="https://fiscaldata.treasury.gov/americas-finance-guide/national-debt/">government data</a>, the U.S. national debt has soared past $36 trillion as of December 2024. That's around $107,990 per person or about $273,548 per household.
And it's growing fast. Between June and November 2024 alone, the U.S. added over $2 trillion in debt, averaging roughly $1 trillion every 100 days – just as Kiyosaki said.
Kiyosaki's solution? Buy hard assets – gold, silver and Bitcoin. He's not just throwing out buzzwords. Each of these has a history of protecting wealth when trust in fiat currency erodes.
See Also: It&#8217;s no wonder Jeff Bezos holds over $70 million in art — <a href="https://www.benzinga.com/money/masterworks">this alternative asset has outpaced the S&amp;P 500 since 1995, delivering an average annual return of 11.4%. Here&#8217;s how everyday investors are getting started.</a>
Gold: A Time-Tested Safe Haven
Gold has been the "go-to" during inflation or economic chaos. When paper money loses value, gold tends to shine brighter.
<ul>
<li>During the 1970s inflation crisis, gold shot up from $35/oz in 1971 to over $600/oz by 1980.</li>
<li>In the 2008 financial crash, gold surged over 30% while stocks crumbled.</li>
</ul>
Today, gold prices sit around $2,652/oz, up 74% in the past five years.
Silver: More Than Just an Inflation Hedge
Silver acts similarly to gold but has added demand from industrial uses – especially in tech and renewable energy.
<ul>
<li>In the 1970s, silver jumped from $2.06/oz to $49.45/oz – a 2,300% increase.</li>
<li>Over the past five years, silver prices climbed about 71%, from $17.90/oz to $30.58/oz.</li>
</ul>
Trending: Unlock the hidden potential of commercial real estate —<a href="https://www.benzinga.com/money/marcus-millichap-backed-platform-makes-it-easy-to-invest-in-real-estate"> This platform allows individuals to invest in commercial real estate offering a 12% target yield with a bonus 1% return boost today!</a>
Bitcoin: The Wild Card
Dubbed "digital gold," Bitcoin's appeal lies in its finite supply – only 21 million will exist. As governments print more money, Bitcoin's scarcity could make it a strong inflation hedge.
<ul>
<li>In 2024, Bitcoin hit all-time highs, boosted by institutional adoption and regulatory clarity.</li>
<li>Investors like Ray Dalio cautiously acknowledge its potential, though he still leans toward gold for stability.</li>
</ul>
Kiyosaki's Debt Strategy: Tool, Not Trap
For Kiyosaki, debt isn't a dirty word – it's a tool for building wealth. He uses borrowed money to <a href="https://www.benzinga.com/general/24/02/37009788/robert-kiyosakis-tax-adviser-explains-why-rich-dad-poor-dad-author-is-1-2-billion-in-debt">acquire income-generating assets</a>, like <a href="https://www.benzinga.com/money/bezos-landlord-100-dollars">real estate</a>, while letting inflation erode the value of what he owes. Meanwhile, he warns that America's uncontrolled borrowing could leave everyday citizens holding the bag.
His message? Don't rely on fiat currency alone. Diversify into tangible assets and alternatives like gold, silver and Bitcoin to shield yourself from what he sees as inevitable dollar devaluation.
You don't have to agree with Kiyosaki's approach to see the logic in his warning. America's debt problem isn't going anywhere and hard assets could play a role in weathering whatever comes next. Whether you're all-in on gold or just dipping a toe into Bitcoin, Kiyosaki's perspective is clear:
The debt train isn't slowing down – so you'd better prepare.
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'A Trillion Seconds Was 31,688 Years Ago' – Robert Kiyosaki Runs The Numbers To Show Magnitude Of The Nation's Massive Mounting Debt

Piper Sandler analyst Ryan Todd maintains Occidental Petroleum (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>) with a Neutral and lowers the price target from $57 to $51.

Piper Sandler Maintains Neutral on Occidental Petroleum, Lowers Price Target to $51

Maxim Group analyst Jack Vander Aarde initiated coverage on TruGolf Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TRUG#NASDAQ">TRUG</a>) <a target="_blank" href="https://www.benzinga.com/quote/TRUG/analyst-ratings]" rel="noreferrer noopener">with a price forecast of $2.</a>
TruGolf Holdings, formed from a business merger in the first quarter of 2024, has become a public company focused on golf technology and esports platforms.
The company aims to elevate its position in the market with an entirely revamped product suite and an aggressive franchise expansion model.
Given the following, Aarde projects strong multi-year growth that will unlock significant operating leverage.
This growth is anticipated to be driven by the rollout of next-generation paid software subscriptions, a significant hardware replacement sales cycle from its existing installed base, and substantial growth from an accelerated rollout of new domestic franchise centers, the analyst notes.
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The company may also see the potential for accelerated growth in the longer term through international franchise expansion, the analyst forecasts.
Since announcing its National Franchise model and collaboration with Franchise Well in the first half of 2024, TruGolf has already secured commitments for 120 U.S. franchise locations, which represents a potential revenue of over $24 million for bundled hardware and equipment.
Going ahead, Aarde projects this number to more than double within the next 12 months.
The analyst projects accelerating revenue growth, with an expected increase of 9% year-over-year in 2024, 20% year-over-year in 2025, and 30% year-over-year in 2026.
Aarde also sees nearly breakeven EBITDA in 2024, followed by positive EBITDA and free cash flow by 2025.
For the long term, the analyst forecasts a 10-year revenue compound annual growth rate of 20% and EBITDA margins of 20%.
TruGolf ended the third quarter of 2024 with $7.5 million in cash. The analyst suggests that its capital is sufficient to support existing operations for at least 12 months.
However, TruGolf may explore strategic growth capital opportunities to accelerate its franchise expansion, Aarde notes.
Price Action: TRUG shares are trading higher by 19.7% to $0.4423 at last check Thursday.
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Photo via Shutterstock.

TRUG

TruGolf Positioned For Multi-Year Growth From Subscription Revenue And Franchise Potential: Analyst

Piper Sandler analyst Ryan Todd maintains Chevron (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>) with a Overweight and lowers the price target from $184 to $173.

Piper Sandler Maintains Overweight on Chevron, Lowers Price Target to $173

Billionaire Elon Musk wears many hats as the leader of companies like Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), SpaceX, The Boring Company, Neuralink and X. Could the title of Speaker of the House get added on top of his <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">Department of Government Efficiency role </a>soon?
What Happened: The <a href="https://www.benzinga.com/general/social-media/24/12/42566558/house-republicans-reject-spending-bill-under-pressure-from-trump-musk-government-faces-shutdown">influence Musk has</a> on President-elect Donald Trump and members of Congress may have been on full display Wednesday with his criticism of a spending bill playing a role in House Republicans rejecting the bill.
The spending bill would have extended federal funding until March and averted a government shutdown. Without the passing of a new spending bill, the government faces a deadline of Saturday, Dec. 21 at 12:01 a.m. ET to avoid a government shutdown, which<a href="https://www.benzinga.com/news/23/09/35009244/ground-control-to-congress-commencing-countdown-engines-off-how-government-shutdown-could-impact-air"> could impact travel</a> during the Christmas week.
Members of Congress and Musk are now questioning the leadership of current Speaker of the House Mike Johnson (R-La.), who took on the role in <a href="https://www.benzinga.com/government/23/10/35094897/can-donald-trump-become-speaker-of-the-house-a-lot-of-people-have-asked-me-about-it">a long process </a>back in October that saw multiple voting rounds to replace ousted Speaker Kevin McCarthy.
Sen. Rand Paul (R-Ky.) floated the idea of selecting Musk to be the next Speaker of the House, a vote that will take place for the new Congress in January.
"The Speaker of the House need not be a member of Congress … Nothing would disrupt the swamp more than electing Elon Musk … think about it … nothing's impossible," Paul <a href="https://x.com/RandPaul/status/1869723449377030385">tweeted</a>.
Paul added there would be "joy" seeing the "collective establishment," which he called the "uniparty," "lose their ever-lovin' minds."
Musk is currently eligible to be the Speaker of the House, with the requirement being that it is a U.S. citizen. The billionaire is not eligible to run for president of the U.S. as he does not meet the natural-born citizen requirement, having been born in South Africa.
The U.S. Constitution laid out plans for a Speaker of the House under Article 1, Section 2.
What the Constitution didn't lay out were any requirements for the position. Unlike the roles of a senator and the U.S. President which have age requirements and other rules to follow, a Speaker of the House can be anyone.
Some historians argue that the founding fathers assumed the House would select a member from within and didn't need to spell out the exact details.
A look at history shows that every Speaker of the House has been an elected official and member of the House of Representatives. Every Speaker of the House has also belonged to the majority party, which is not a requirement.
Members of Congress and the Speaker are also allowed to own stocks, which would mean Musk would be able to keep his stake in Tesla if he was elected to the role. 
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Why It's Important: McCarthy became the first Speaker of the House to ever be voted from the leadership position in October. A <a href="https://www.benzinga.com/government/23/10/35092315/who-will-be-the-next-speaker-of-the-house-heres-the-betting-odds-for-scalise-boebert-gaetz-taylor-gr">long voting process</a> followed and saw several names floated. During that process some suggested the name of Trump, who was not the current president or a member of Congress.
Trump received at least one vote during the January 2023 Speaker of the House vote, which faced 15 ballot rounds to secure McCarthy's role.
Johnson was the favorite to continue his Speaker of the House role in January with odds of over 90% on prediction market site <a href="https://polymarket.com/event/speaker-of-the-house-for-the-119th-congress">Polymarket </a>until Wednesday. The criticism of the spending bill has put Johnson's re-election chances in jeopardy.
Here are the current odds on Polymarket for the next Speaker of the House:
<ul>
<li>Mike Johnson: 66%</li>
<li>Steve Scalise (R-La.): 12%</li>
<li>Jim Jordan (R-Ohio): 7%</li>
<li>Tom Emmer (R-Minn.): 5%</li>
<li>Byron Donalds (R-Fla.): 2%</li>
<li>Hakeem Jeffries (D-N.Y.): 2%</li>
<li>Elon Musk: 2%</li>
</ul>
The list above are the current favorites with others listed at odds of 1%. Musk was at odds of 1% prior to Thursday. The list above is also all members of the House of Representatives outside of Musk and all members of the Republican party outside of Jeffries.
The Polymarket prediction market for Speaker has over $16 million in wagers and the winning person will cash out at $1 per contract. On Polymarket, users can deposit funds using USDC (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">USDC</a>) via the Polygon (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/matic/usd">MATIC</a>) network or can deposit directly from a crypto account with Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>).
On prediction market Kalshi, Johnson also <a href="https://kalshi.com/markets/kxspeaker/speaker-of-the-house">saw </a>his odds fall and they sit at 59%. Jordan is the second favorite at 19% followed by Scalise at 11% and Emmer at 9%. Musk is also listed at 2% on Kalshi.
Trump recently <a href="https://www.foxnews.com/politics/trump-says-mike-johnson-easily-remain-speaker-he-acts-decisively-tough-spending-bill?intcmp=tw_fnc">told </a>Fox News that Johnson will "easily remain speaker" if he is tough on the spending bill.
"Anybody that supports a bill that doesn't take care of the Democrat quicksand known as the debt ceiling should be primaried and disposed of as quickly as possible," Trump told Fox News.
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Photo: Shutterstock

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