Option chain shows key data for Tesmec's stock options at various strike prices and expiration dates. Traders use this information to analyze potential trades and assess market sentiment for Tesmec.

Tesmec (OTC:TSMCF) Stock, Option Chain

Tesmec SpA manufactures and sells products, technologies, and integrated solutions for the construction, maintenance, and efficiency of infrastructures. related to the transport and distribution of energy, data, and material (oil and derivatives, gas, water) like overhead and underground networks, traditional and high-speed railway lines, energy cables, and pipelines. Its operating segments are the Energy segment, the Trencher segment, and the Rail segment. The majority of the company's revenue is generated from the Trencher segment.

Tesmec SpA

News

Reported Earlier, Accenture Acquires Percipient's Digital Twin Platform To Drive Core Banking Modernization

Jim Cramer urged investors to consider NVIDIA Corp.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) recent stock decline as a buying opportunity, despite the company&#8217;s shares falling 6.22% on Tuesday following CEO Jensen Huang&#8216;s <a href="https://www.benzinga.com/news/global/25/01/42836461/nvidias-ces-2025-vision-sparks-mixed-reactions-ross-gerber-hails-incredible-things-to-come-while-analysts-debate-ai-and-autonomous-driving-ambitions">CES 2025 keynote presentation</a>.
What Happened: &#8220;Understand one thing, the keynote dazzled, the new projects are way ahead of any other company, and this new industrial revolution belongs to Nvidia,&#8221; Cramer <a href="https://www.cnbc.com/2025/01/07/jim-cramer-says-nvidias-pullback-could-be-a-good-chance-to-buy.html">said</a> on CNBC, attributing the stock&#8217;s decline to &#8220;too much hot money&#8221; and broader market concerns about interest rates and inflation rather than company fundamentals.
During his Las Vegas presentation, <a href="https://www.benzinga.com/tech/25/01/42838231/jensen-huang-unveils-3000-personal-ai-supercomputer-the-size-of-a-small-book-it-runs-the-entire-nvidia-ai-stack">Huang unveiled next-generation</a> GeForce RTX 5000 series graphics cards and the Grace Blackwell NVLink 72 system, positioning Nvidia at the forefront of AI computing. 
The flagship RTX 5090, priced at $1,999, promises double the performance of its predecessor and features 32GB of GDDR7 memory.
See Also: <a href="https://www.benzinga.com/markets/equities/25/01/42865957/amazon-poised-to-benefit-from-mexicos-import-tariffs-affecting-temu-heres-what-analyst-says-amid-trumps-warning-on-chinese-goods">Amazon Set To Benefit From Mexico&#8217;s Import Tariffs Affecting Temu, Shein — Analysts See Window Of Opportunity For Established Players</a>
Why It Matters: The presentation sparked mixed reactions from Wall Street analysts. Bank of America&#8216;s Vivek Arya maintained a Buy rating with a $190 price target, describing Nvidia as an &#8220;end-to-end AI shop.&#8221; 
However, Benchmark analyst Cody Acree, while maintaining a Buy rating, noted the keynote may have been &#8220;too technical&#8221; for investors <a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/01/42859715/nvidia-stock-drops-after-huangs-ces-keynote-analysts-dub-it-end-to-end-ai-shop">seeking near-term guidance</a>.
Cramer advised investors to consider purchasing shares below the all-time high and monitor the upcoming Labor Department employment data. 
&#8220;If it comes in hot, you will get a chance to buy this stock lower, maybe much lower,&#8221; he said, suggesting current sellers might regret their decisions.
Nvidia&#8217;s expanding influence in AI infrastructure is evident in its partnership with Foxconn, which reported <a href="https://www.benzinga.com/markets/equities/25/01/42837406/amid-nvidias-ces-2025-buzz-investors-overlooked-apple-supplier-foxconns-strong-q4-says-jim-cramer">strong fourth-quarter</a> results driven partly by AI server demand. 
The company is set to release its RTX 5090 and 5080 models on Jan. 30, with more affordable <a href="https://www.benzinga.com/news/global/25/01/42836461/nvidias-ces-2025-vision-sparks-mixed-reactions-ross-gerber-hails-incredible-things-to-come-while-analysts-debate-ai-and-autonomous-driving-ambitions">variants following later</a>.
Price Action: Nvidia&#8217;s stock closed at $140.14 on Tuesday, down 6.22% for the day. In after-hours trading, the stock rose 1.04%. Over the past year, Nvidia&#8217;s stock has surged 168.21%, according to <a href="https://www.benzinga.com/pro/">data from Benzinga Pro</a>.
Nvidia has a <a href="https://www.benzinga.com/quote/NVDA/analyst-ratings">consensus price target</a> of $170.56. The highest target is $220, and the lowest is $120. Recent analyst ratings suggest an average target of $161.67, implying a 14.17% upside.
<figure class="wp-block-image aligncenter size-large is-resized"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/08000724/Screenshot-2025-01-08-at-10.36.45%E2%80%AFAM-1024x380.png" alt="" class="wp-image-723139" style="width:646px;height:auto" /></figure>
Read Next: 
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<li><a href="https://www.benzinga.com/news/legal/25/01/42865752/tesla-supplier-catl-riot-games-owner-tencent-plan-legal-action-over-pentagon-blacklist-deny-military-ties">Tesla Supplier CATL, Riot Games Owner Tencent Plan Legal Action Over Pentagon Blacklist, Deny Military Ties</a></li>
</ul>
Image Via Shutterstock 
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Equities

Markets

NVDA

Jim Cramer Sees Buying Opportunity In Nvidia But Attributes 6% Fall To 'Too Much Hot Money' After Jensen Huang's CES Keynote

<ul>
<li>The AWS Asia Pacific (Thailand) Region gives customers more choice to run workloads and securely store data in Thailand while serving end users with even lower latency</li>
<li>New Region reflects AWS's long-term commitment to meeting high demand for cloud services in Thailand and across Asia Pacific</li>
<li>AWS plans to invest more than $5 billion and support an average of more than 11,000 full-time equivalent jobs annually in Thailand, adding approximately $10 billion to Thailand's GDP</li>
</ul>

AMZN

Reported Earlier, Amazon Web Services Unveils $5B Infrastructure Region In Thailand, Supporting GDP Growth and Innovation

A popular analyst&nbsp;anticipated a further decline in Dogecoin&#8217;s (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) value on Tuesday amid the broader slump that rocked the cryptocurrency market.
What Happened: Kevin, known for sharing insights and forecasting price movements for the king of meme coins, expressed a bearish outlook in an X post. 
&#8220;If BTC doesn&#8217;t bounce, then this probably has lower to go before finding a bottom,&#8221; the analyst cautioned, linking DOGE&#8217;s destiny with Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), the world&#8217;s largest cryptocurrency.
Kevin had <a href="https://www.benzinga.com/24/12/42477447/dogecoins-fate-tied-to-bitcoin-not-worth-overly-focusing-on-analyst-says-as-apex-memecoin-mirrors-btcs-pullback">previously indicated</a> that DOGE was &#8220;not in control of itself,&#8221; and its fate lies &#8220;purely in Bitcoin&#8217;s hands.&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Pretty bearish close for <a href="https://twitter.com/hashtag/Dogecoin?src=hash&amp;ref_src=twsrc%5Etfw">#Dogecoin</a>. If <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> doesn&#39;t bounce then this probably has lower to go before finding a bottom. <a href="https://t.co/Rh3wJ3KT3Q">pic.twitter.com/Rh3wJ3KT3Q</a>
&mdash; Kevin (@Kev_Capital_TA) <a href="https://twitter.com/Kev_Capital_TA/status/1876788727701188892?ref_src=twsrc%5Etfw">January 8, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also:<a href="https://www.benzinga.com/24/12/42735744/pharma-bro-martin-shkreli-predicts-doom-for-michael-saylors-microstrategy-as-stock-dips-below-300-in-after-hours-trading"> </a><a href="https://www.benzinga.com/25/01/42835979/ethereum-co-founder-vitalik-buterin-offloads-nearly-a-million-in-memecoins-to-benefit-charitiesdogecoins-sister-coin-neiro-plunges-3-after-sale">Ethereum Co-Founder Vitalik Buterin Offloads Nearly A Million In Memecoins To Benefit Charities — Dogecoin&#8217;s Sister Coin NEIRO Plunges 3% After Sale</a>
On similar lines, More Crypto Online, a widely followed X account dedicated to cryptocurrency technical analysis, projected DOGE to slip to $0.30 after the price dipped below a key support level. 
&#8220;I would therefore not be surprised if the price drops back to 30 cents before making another attempt to rally. In this case, I would view it as an opportunity,&#8221; More Crypto Online said, sensing a chance to buy the dip.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24DOGE&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$DOGE</a>: While the price has broken below upper micro support the price is currently still holding above the $0.347 support level, though my view is that upper support ideally should not have broken. I would therefore not be surprised if the price drops back to 30 cents before… <a href="https://t.co/ivhWyR29wp">pic.twitter.com/ivhWyR29wp</a>
&mdash; More Crypto Online (@Morecryptoonl) <a href="https://twitter.com/Morecryptoonl/status/1876665663399338321?ref_src=twsrc%5Etfw">January 7, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Why It Matters: These predictions coincided with sell-offs by DOGE&#8217;s long-term holders. According to <a href="https://app.intotheblock.com/">IntoTheBlock</a>, DOGE holdings of &#8220;Diamond Hands&#8221; dropped by 0.88% in the last 24 hours, contrasting with increases in Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) and Tron (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/trx/usd">TRX</a>) holdings.
That said, the popular Moving Average Convergence Divergence indicator, which compares two exponential moving averages to assess the momentum of the asset, indicated a ‘Buy&#8217; signal, <a href="https://in.tradingview.com/symbols/DOGEUSD/technicals/">according </a>to TradingView. 
Dogecoin could have a historic 2025, with a top analyst from Galaxy Research predicting that the l<a href="https://www.benzinga.com/markets/cryptocurrency/25/01/42804970/dogecoin-to-hit-one-dollar-milestone-this-year-says-this-analyst">argest meme coin would surpass $1 for the first time</a> this year.
Price Action: At the time of writing, Dogecoin was exchanging hands at $0.3551, down 9.33% 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>. Year-to-date, the coin was up 12.50%, compared to nearly 273% in gains in 2024.
Read Next:&nbsp;
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<li><a href="https://www.benzinga.com/25/01/42836019/odds-of-trump-buying-greenland-hit-21-on-betting-platform-kalshi-amid-reports-of-donald-trump-jrs-visit-to-arctic-region">Trump&#8217;s Greenland Gambit: Kalshi Bettors See 21% Chance He&#8217;ll Seal The Deal Before This Date</a></li>
</ul>

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

Cryptocurrency

$BTC

$DOGE

$ETH

$TRX

DOGE

Dogecoin To Drop Further? Top Analyst Foresees Possible Dump For Memecoin If Bitcoin Doesn't Bounce

Nvidia Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) has launched a China-specific version of its RTX 5090 <a href="https://www.benzinga.com/25/01/42835923/jensen-huang-unveils-monster-gpus-nvidias-rtx-5000-series-starting-at-549">graphics card</a>, the RTX 5090D.
What Happened: The RTX 5090D has been designed to meet <a href="https://www.benzinga.com/startups/24/10/41209333/jensen-huang-on-china-sanctions-were-exporting-american-technology-which-is-really-terrific-for-the">U.S. trade sanctions</a>, resulting in about a 29% decrease in AI performance compared to the global RTX 5090 model.
The AI TOPS has been reduced from 3,352 to 2,375. Despite this reduction, the RTX 5090D maintains most of the specifications of its international counterpart.
See Also: <a href="https://www.benzinga.com/tech/25/01/42838231/jensen-huang-unveils-3000-personal-ai-supercomputer-the-size-of-a-small-book-it-runs-the-entire-nvidia-ai-stack">Jensen Huang Unveils $3000 &#8216;Personal AI Supercomputer&#8217; The Size Of A Small Book: &#8216;It Runs The Entire Nvidia AI Stack&#8217;</a>
The Total Processing Power (TPP) of the RTX 5090D is reported at 4,750, just below the U.S. export limit of 4,800, <a href="https://www.tomshardware.com/pc-components/gpus/nvidia-cuts-down-the-china-specific-rtx-5090d-ai-tops-performance-by-almost-23-percent-to-meet-us-export-guidelines">reported</a> Tom's Hardware.
<figure class="wp-block-table"> 
<table>
<thead>
<tr>
<th>Specifications</th>
<th>RTX 5090</th>
<th>RTX 5090D</th>
</tr>
</thead>
<tbody>
<tr>
<td>NVIDIA Architecture</td>
<td>Blackwell</td>
<td>Blackwell</td>
</tr>
<tr>
<td>DLSS</td>
<td>DLSS 4</td>
<td>DLSS 4</td>
</tr>
<tr>
<td>AI TOPS</td>
<td>3,352</td>
<td>2,375</td>
</tr>
<tr>
<td>Tensor Cores</td>
<td>5th generation</td>
<td>5th generation</td>
</tr>
<tr>
<td>Ray Tracing Cores</td>
<td>4th generation</td>
<td>4th generation</td>
</tr>
<tr>
<td>Price</td>
<td>Starting at $1,999</td>
<td>From CN¥ 16,499 ($2,250)</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Source: Nvidia</figcaption></figure>
This move follows previous instances where Nvidia narrowly met export guidelines, drawing attention from U.S. Commerce Secretary Gina Raimondo.
The RTX 5090D is scheduled to launch in China on Jan. 30, priced at CN¥ 16,499 ($2,250).
<figure class="wp-block-image size-large"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/07224645/Screenshot-2025-01-08-at-9.16.28%E2%80%AFAM-1024x540.png" alt="" class="wp-image-723065" /><figcaption class="wp-element-caption">Source: Nvidia</figcaption></figure>
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Why It Matters: Last year in September, Nvidia CEO Jensen Huang addressed the challenges posed by <a href="https://www.benzinga.com/government/23/10/35345164/is-nvidia-benefiting-from-us-sanctions-on-china">U.S. sanctions on China</a>. He said, "Nvidia is an American company, and our government and the administration would love to see us succeed."
The restrictions aim to block China from leveraging advanced AI chips for military applications, which pose <a href="https://www.benzinga.com/news/24/08/40523419/chinese-firms-are-reportedly-accessing-high-end-nvidia-ai-chips-using-aws-and-microsoft-cloud-servic">potential national security concerns</a>.
However, these measures have also complicated Nvidia&#8217;s ability to sell its high-performance chips in China—a key market that accounted for about 17% of its fiscal 2024 revenue.
Nvidia&#8217;s stock <a href="https://www.benzinga.com/news/events/25/01/42862049/nvidia-stock-closed-tuesday-down-6-after-hitting-all-time-highs-what-happened">experienced a 6% drop</a> after hitting all-time highs on Tuesday, following product announcements at CES 2025. During the event, Huang also unveiled a collaboration with Toyota to integrate its Orin chips into advanced driver-assistance systems.
Price Action: Nvidia&#8217;s stock dropped 6.22% on Tuesday, closing at $140.14. However, it rebounded in after-hours trading, rising 1.04% to $141.60, as per <a href="https://benzinga.grsm.io/lxquj26b2sag">data from Benzinga Pro</a>.
Check out more of Benzinga&#8217;s Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech">following this link</a>.
Read Next:
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<li><a href="https://www.benzinga.com/trading-ideas/technicals/25/01/42827345/nvidia-soars-amd-stalls-ai-race-heats-up-at-ces-2025">Nvidia Soars, AMD Stalls: AI Race Heats Up At CES 2025</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Tech

Nvidia 5000 Series: RTX 5090 Version For China Costs $250 More But Its AI Power Cut 29% — Here's Why

E-commerce giants Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) and MercadoLibre Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MELI#NASDAQ">MELI</a>) are positioned to strengthen their market dominance in Mexico following the country&#8217;s implementation of new import tariffs targeting Asian competitors, according to Itau BBA analysts.
What Happened: Mexico <a href="https://www.benzinga.com/25/01/42780039/amazons-chinese-rivals-temu-and-shein-got-hit-hard-by-tariffs-in-this-country-is-it-a-sign-of-things-to-come-under-trump">imposed a 19% tax on courier service imports</a> from nations without free-trade agreements, primarily affecting Chinese fast-fashion retailers Shein and PDD Holdings Inc.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PDD#NASDAQ">PDD</a>) Temu. The move comes as Mexico intensifies scrutiny of Chinese imports amid broader trade tensions with Asia.
The policy maintains preferential treatment for U.S. and Canadian imports under the USMCA trade agreement, with exemptions for purchases under $50 and a reduced 17% duty on items valued between $50 and $117. 
This structure particularly benefits Amazon, which sources approximately 30% of its Mexican inventory from the U.S., Itau BBA said, according to Reuters.
While MercadoLibre imports about 15% of its Mexican merchandise from China, analysts expect the company to see net positive effects from reduced competition. The development follows Mexico&#8217;s recent implementation of additional protective measures, including a 35% tariff on finished fabric products and a 15% duty on raw textiles.
See Also: <a href="https://www.benzinga.com/news/events/25/01/42860583/trump-floats-canada-as-51st-us-state-says-hes-ready-to-use-economic-force-to-achieve-it">Trump Floats Canada As 51st US State, Says He&#8217;s Ready To Use &#8216;Economic Force&#8217; To Achieve It</a>
Why It Matters: The timing is significant as President-elect Donald Trump has promised &#8220;very serious&#8221; tariffs on Mexican imports, citing concerns about the country serving as a conduit for Chinese goods. Mexican authorities have responded with &#8220;Operation Clean-Up,&#8221; targeting contraband Asian imports.
&#8220;The policy appears designed to close loopholes that previously allowed companies, primarily from China, to redirect goods to the local market through preferential import channels,&#8221; Itau BBA analysts wrote, highlighting the potential for established e-commerce players to capture market share.
The measures come as Mexico grapples with <a href="https://www.benzinga.com/25/01/42780039/amazons-chinese-rivals-temu-and-shein-got-hit-hard-by-tariffs-in-this-country-is-it-a-sign-of-things-to-come-under-trump">inflation above 4%</a>, a factor that had previously helped Asian retailers gain market share through competitive pricing strategies. 
Read Next: 
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<li><a href="https://www.benzinga.com/news/legal/25/01/42865752/tesla-supplier-catl-riot-games-owner-tencent-plan-legal-action-over-pentagon-blacklist-deny-military-ties">Tesla Supplier CATL, Riot Games Owner Tencent Plan Legal Action Over Pentagon Blacklist, Deny Military Ties</a></li>
</ul>
Image Via Shutterstock 
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

MELI

Citigourp Global Markets 2% Protected Notes Linked To The Djia

Amazon Set To Benefit From Mexico's Import Tariffs Affecting Temu, Shein — Analysts See Window Of Opportunity For Established Players

Leading executives of the blockchain-based company Ripple Labs met with President-elect Donald Trump, displaying strong bonhomie and potential cooperation for the future.
What happened: On Tuesday, Ripple CEO Brad Garlinghouse posted a photo of himself and the firm's Chief Legal Officer, Stuart Alderoty, with Trump on X.
"Great dinner last night with Donald Trump &amp; Stuart Alderoty," Garlinghouse wrote. "Strong start to 2025!" Trump was seen giving a thumbs-up in the photo.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Great dinner last night with <a href="https://twitter.com/realDonaldTrump?ref_src=twsrc%5Etfw">@realDonaldTrump</a> &amp; <a href="https://twitter.com/s_alderoty?ref_src=twsrc%5Etfw">@s_alderoty</a>. Strong start to 2025! <a href="https://t.co/UjM6lahUG4">pic.twitter.com/UjM6lahUG4</a>
&mdash; Brad Garlinghouse (@bgarlinghouse) <a href="https://twitter.com/bgarlinghouse/status/1876783603603939438?ref_src=twsrc%5Etfw">January 8, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Alderoty reshared the post, saying, &#8220;And to top it off, the beef bourguignon was really good."
See Also:<a href="https://www.benzinga.com/24/12/42735744/pharma-bro-martin-shkreli-predicts-doom-for-michael-saylors-microstrategy-as-stock-dips-below-300-in-after-hours-trading"> </a><a href="https://www.benzinga.com/25/01/42835979/ethereum-co-founder-vitalik-buterin-offloads-nearly-a-million-in-memecoins-to-benefit-charitiesdogecoins-sister-coin-neiro-plunges-3-after-sale">Ethereum Co-Founder Vitalik Buterin Offloads Nearly A Million In Memecoins To Benefit Charities — Dogecoin&#8217;s Sister Coin NEIRO Plunges 3% After Sale</a>
Why It Matters: The camaraderie comes on the heels of a <a href="https://www.benzinga.com/25/01/42808375/ripple-ceo-celebrates-trumps-impact-on-crypto-industry-says-34th-of-companys-new-hires-us-based">recent disclosure</a> by Garlinghouse that the company's hiring and business deals have become U.S.-focused since Trump's win in the November elections.
He said that about 75% of open roles are now based in the U.S., contrasting with the last four years when the majority of the hires were from outside.
That's not all. Since the elections, XRP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>), a cryptocurrency strongly tied to Ripple's operations, has soared 363% in value.
The coin's Open Interest has ballooned from $690 million just before the elections to $4.25 billion as of this writing, <a href="https://www.coinglass.com/BitcoinOpenInterest">according </a>to Coinglass, reflecting a 515% surge. A jump in Open Interest implies strong speculative interest.
Some of XRP's technical indicators were also supportive. The Bull Bear Power indicator, used for measuring the strength of buyers and sellers in the market, flashed a &#8220;Buy&#8221; signal for the coin, according to TradingView.
Most moving average indicators also showed a "Buy" reading, indicating that the asset was in an uptrend.
Price Action: At the time of writing, XRP was exchanging hands at $2.33, down 2.98% 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>.
Read Next:&nbsp;
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<li><a href="https://www.benzinga.com/25/01/42836019/odds-of-trump-buying-greenland-hit-21-on-betting-platform-kalshi-amid-reports-of-donald-trump-jrs-visit-to-arctic-region">Trump&#8217;s Greenland Gambit: Kalshi Bettors See 21% Chance He&#8217;ll Seal The Deal Before This Date</a></li>
</ul>

Politics

$XRP

Trump Meets Top Ripple Executives — CEO Says 'Strong Start To 2025' As Technicals Favor XRP Bulls

Tencent Holdings Ltd. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TCEHY#OTC">TCEHY</a>) and Contemporary Amperex Technology Co. Limited, two of China&#8217;s leading technology companies, are preparing legal challenges after being added to the U.S. Department of Defense&#8217;s list of Chinese Military Companies on Wednesday.
What Happened: The designation, which primarily affects U.S. defense procurement, triggered significant market reactions. Tencent&#8217;s shares fell 7.8% in Hong Kong trading on Tuesday, while CATL&#8217;s stock dropped 6% in Shenzhen. Both companies strongly denied any military connections and announced plans to engage with U.S. authorities.
Tencent, a major gaming and social media conglomerate, stated in a regulatory filing that it is &#8220;neither a Chinese military company nor a military-civil fusion contributor.&#8221; The company, led by Chairman Ma Huateng, emphasized that the listing wouldn&#8217;t affect its broader business operations or securities trading.
Tencent owns Riot Games, and Supercell, and has stakes in Reddit, Snap, and Epic Games.
CATL, a key supplier to Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), similarly rejected the designation, stating it has &#8220;never engaged in any military-related business or activities.&#8221; The company assured shareholders that the listing would not substantially impact its operations.
Both Tencent and CATL have initiated reconsideration processes and indicated their willingness to pursue legal action if necessary.
See Also: <a href="https://www.benzinga.com/25/01/42860759/10-best-stock-traders-in-congress-in-2024-where-do-nancy-pelosi-pete-sessions-susan-collins-marjorie-taylor-greene-rank">Top 10 Stock Traders In Congress For 2024: How Nancy Pelosi, Pete Sessions, Susan Collins, Marjorie Taylor Greene Rank</a>
Why It Matters: This development comes amid escalating <a href="https://www.benzinga.com/government/24/05/39057312/chinese-firms-blacklisted-in-us-rebrand-themselves-as-american-to-avoid-sanctions-imposed-by-biden-a">U.S.-China trade tensions</a>. China&#8217;s Ministry of Commerce recently imposed new trade controls, adding 28 U.S. companies to an export control list and restricting major defense contractors like Lockheed Martin Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>) and Boeing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) from operating in China.
Despite these challenges, Tencent continues to show <a href="https://www.benzinga.com/analyst-ratings/price-target/25/01/42827152/tencent-strengthens-video-leadership-showcases-revenue-growth-potential-analyst">strong business fundamentals</a>. Goldman Sachs recently maintained a Buy rating on the company, citing its leadership in video entertainment and artificial intelligence development. The company&#8217;s WeChat ecosystem remains robust, with users accessing the app 40-50 times daily.
The Pentagon&#8217;s designation specifically relates to <a href="https://www.benzinga.com/news/global/25/01/42838053/us-adds-tencent-tesla-supplier-catl-to-chinese-military-blacklist-shares-tumble">Section 1260H list compliance</a>, which serves as a warning mechanism for U.S. entities but does not prohibit general business dealings or securities transactions with listed companies. 
Price Action: Tencent&#8217;s stock is trading at HK$ 373.60 ($48.04) on Wednesday, down 1.58% for the day. Over the past year, the stock has gained 29.51%. 
CATL&#8217;s stock is currently trading at CNY 246.28 ($33.59) on Wednesday, down 1.27% for the day. Over the past year, the stock has surged 64.09%.
Read Next: 
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Image Via Shutterstock 
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Asia

Legal

TCEHY

TSLA

Tesla Supplier CATL, Riot Games Owner Tencent Plan Legal Action Over Pentagon Blacklist, Deny Military Ties

Leading cryptocurrencies nosedived, on Tuesday, as the latest economic data poured cold water on interest rate-cut expectations.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 8:15 p.m. ET)</td>
</tr>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>-4.76%</td>
<td>$97,056.00</td>
</tr>
<tr>
<td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>-7.59%</td>
<td>$3,402.50</td>
</tr>
<tr>
<td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>-9.40%</td>
<td>$0.3507</td>
</tr>
</tbody>
</table>
</figure>
What Happened: Bitcoin fell to $96,200 late afternoon before dip-buying propelled the leading cryptocurrency up a few notches. This comes a day after it hit $100,000 after a gap of more than two weeks.
Ethereum's decline was steeper as the second-largest cryptocurrency lost nearly 8% of its value in 24 hours, plunging to $3,880.
Cryptocurrency liquidations hit $559 million in the last 24 hours, the highest since Dec. 20. More than $500 million in long liquidations was witnessed.
Top traders on Binance seemed to be buying the dip, as over 63% of them were long on Bitcoin, compared to 36% shorting the cryptocurrency.&nbsp;
About $555 million in short positions risked liquidation if Bitcoin rebounds to $100,000.&nbsp;
The slump cooled the sentiment from "Extreme Greed" to "Greed," according to the Crypto Fear &amp; Greed Index.
Top Losers (24-Hours)
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Losses </td>
<td>Price (Recorded at 8:15 p.m. ET)</td>
</tr>
<tr>
<td>dYdX (DYDX)</td>
<td>12.33%</td>
<td>$1.43</td>
</tr>
<tr>
<td>Pudgy Penguins (PENGU)</td>
<td>11.88%</td>
<td>$0.03761</td>
</tr>
<tr>
<td>Lido DAO (LDO)</td>
<td>11.85%</td>
<td>$1.78</td>
</tr>
</tbody>
</table>
</figure>
The global cryptocurrency market capitalization slumped 5.29% to $3.39 trillion in the last 24 hours.
Stocks faced heavy sell-offs on Tuesday. The Dow Jones Industrial Average lost 178.20 points, or 0.42%, to close at 42,528.36. The tech-heavy Nasdaq Composite slipped 1.89%, ending at 19,489.68, while the S&amp;P 500 fell 1.11% to 5,909.03.
The decline followed a report revealing <a href="https://www.benzinga.com/economics/macro-economic-events/25/01/42850914/us-services-sector-growth-tops-forecasts-but-price-pressures-tariff-concerns-cloud-outlook">stronger-than-expected U.S. services sector growth</a>, but a steep increase in the Prices Index stoked fears about inflationary pressures.
According to the CME FedWatch tool, traders priced in a 95% chance that the current interest rate range of 4.25%-4.50% would remain unchanged, up from 91% the day before.
While the equities sold off, yields on risk-free debt rose. The benchmark Treasury yield hit 4.69, its highest since late April.
See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>
Analyst Notes: Popular cryptocurrency analyst Michaël van de Poppe weighed in on Bitcoin's latest correction.
"Couldn&#8217;t hold above $98-100,000 and we&#8217;re dropping down. Likely this is going to give a period of consolidation," the analyst predicted.
However, he added that once the correction ends, the entire market will rally, with altcoins witnessing the "strongest bounces."
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The chop on <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> continues. Couldn&#39;t hold above $98-100K and we&#39;re dropping down. Likely this is going to give a period of consolidation. Correction over? Bounce on the entire markets, strongest <a href="https://twitter.com/hashtag/Altcoins?src=hash&amp;ref_src=twsrc%5Etfw">#Altcoins</a> have the strongest bounces.
&mdash; Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1876702282533757386?ref_src=twsrc%5Etfw">January 7, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Ali Martinez, a widely followed cryptocurrency expert,&nbsp; highlighted the significance of $97,000 as support for Bitcoin.
"If this support holds, BTC may rebound. A break below $97,000, however, could open the door for a dip to $92,000," Martinez projected.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The TD Sequential indicator flashes a buy signal on the <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> hourly chart, right above the setup trend line and the 200-hour MA, near $97,000. If this support holds, <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> may rebound. A break below $97,000, however, could open the door for a dip to $92,000. <a href="https://t.co/jevgNgKyEf">pic.twitter.com/jevgNgKyEf</a>
&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1876684037416186305?ref_src=twsrc%5Etfw">January 7, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Photo by CMP_NZ on Shutterstock
Read Next:    
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/01/42815711/bitcoin-is-the-the-grand-daddy-and-outshines-wall-street-anthony-pompliano-says">Bitcoin Is The &#8216;The Grand Daddy&#8217; And Outshines Wall Street, Anthony Pompliano Says</a></li>
</ul>

Movers

Trading Ideas

Bitcoin, Ethereum, Dogecoin Join Equities In Sell-Offs As Economic Data Pours Cold Water On Rate Cut Hopes: $97K Holds Significance For BTC — Here's Why

The U.S. stock market experienced a downturn on Tuesday, with the Nasdaq Composite falling by 1.9% and the S&amp;P 500 dropping by 1.1%. The Dow Jones Industrial Average also declined by 0.4%.
These are the top stocks that gained the attention of retail traders and investors throughout the day:
Nvidia Corporation&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>)
Nvidia&#8217;s stock dropped by 6.22%, closing at $140.14. The stock reached an intraday high of $153.13 and a low of $140.01, with a 52-week high of $153.13. During the CES 2025 keynote, CEO Jensen Huang <a href="https://www.benzinga.com/25/01/42835923/jensen-huang-unveils-monster-gpus-nvidias-rtx-5000-series-starting-at-549">unveiled the RTX 5000 series GPUs</a>, capturing significant market interest.
Palantir Technologies Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>)
Palantir&#8217;s shares fell by 7.81%, closing at $69.99. The day&#8217;s high was $75.39, with a low of $69.75, and a 52-week high of $75.39. <a href="https://www.benzinga.com/25/01/42835519/cathie-woods-monday-moves-dumps-15m-worth-of-hot-stock-palantir-loads-up-amazon-com">Cathie Wood&#8217;s Ark Invest</a> sold $15 million worth of Palantir shares on Monday and <a href="https://www.benzinga.com/25/01/42865484/cathie-woods-tuesday-double-dump-ark-invest-trims-both-palantir-and-bitcoin-etf-holdings">continued selling shares</a> on Tuesday, reflecting mixed analyst ratings.
IonQ Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IONQ#NYSE">IONQ</a>)
IonQ&#8217;s stock decreased by 2.90%, closing at $49.59. The stock hit a high of $54.74 and a low of $48.73, with a 52-week high of $54.74. The company announced the&nbsp;<a href="https://www.benzinga.com/trading-ideas/long-ideas/25/01/42825776/ionq-expands-quantum-edge-with-qubitekk-acquisition-stock-soars">acquisition of Qubitekk</a>, enhancing its quantum computing capabilities.
Moderna Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRNA#NASDAQ">MRNA</a>)
Moderna shares surged by 11.65%, closing at $47.53. The stock&#8217;s intraday high was $48.92, with a low of $42.86, and a 52-week high of $170.47. The rise follows reports of the <a href="https://www.benzinga.com/general/biotech/25/01/42854890/us-records-first-human-bird-flu-death-high-levels-of-respiratory-illnesses-vaccine-stocks-rally">first U.S. human bird flu death</a>, boosting vaccine stocks.
Tesla Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)
Tesla&#8217;s stock fell by 4.06%, closing at $394.36. The stock&#8217;s high was $414.33, with a low of $390, and a 52-week high of $488.54. Despite a recent downgrade by <a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/01/42856115/tesla-analyst-on-high-stakes-future-optimus-robotaxi-fsd-have-potential-but-execution-risks-loom">Bank of America</a>, investors remain focused on long-term prospects like FSD and robotaxis.
Image via Shutterstock
Prepare for the day&#8217;s trading <a href="https://editorial.benzinga.com/wp-admin/Premarket%20Movers%20&amp;%20News">with top premarket movers and news</a> by Benzinga.
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<li><a href="https://www.benzinga.com/markets/25/01/42865275/jimmy-carters-funeral-markets-and-post-offices-closed-banks-stay-open-on-jan-9https://www.benzinga.com/markets/25/01/42865275/jimmy-carters-funeral-markets-and-post-offices-closed-banks-stay-open-on-jan-9">Jimmy Carter&#8217;s Funeral: Markets And Post Offices Closed, Banks Stay Open On Jan. 9</a></li>
</ul>
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/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

IONQ

MRNA

PLTR

Nvidia, Palantir, Ionq, Novavax, And Tesla: Why These 5 Stocks Are On Investors' Radars Today

On Tuesday, Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) announced plans to invest $11 billion in Georgia through its cloud division, Amazon Web Services.
What Happened: This investment aims to bolster infrastructure for cloud computing and artificial intelligence technologies.
With the investment in Butts and Douglas counties, "we expect to create more than 550 well-paying jobs," said Roger Wehner, vice president of economic development at AWS.
See Also: <a href="https://www.benzinga.com/personal-finance/25/01/42818961/jeff-bezos-urged-his-brother-and-sister-to-invest-10000-in-amazon-the-stake-grew-15499900-and-its-now-potentially-worth-1-5-billion">Jeff Bezos Urged His Brother And Sister To Invest $10,000 In Amazon – The Stake Grew 15,499,900% And It&#8217;s Now Potentially Worth $1.5 Billion</a>
The expansion of AI and cloud computing has also led to increased electricity consumption in the U.S.
The Electric Power Research Institute projects that by 2030, data centers could account for as much as <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40599343/amazon-microsoft-and-other-us-tech-giants-compete-with-bitcoin-miners-over-scarce-energy-s">9% of the electricity produced</a> in the U.S., more than twice their current usage.
Amazon has <a href="https://www.benzinga.com/markets/equities/24/09/40969515/amazon-going-nuclear-hiring-plans-indicate-company-may-be-eyeing-nuclear-to-meet-energy-needs">secured agreements</a> with U.S. utilities, including Talen Energy in Pennsylvania and Entergy Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ETR#NYSE">ETR</a>) in Mississippi, to power its data centers across the country.
Why It Matters: Amazon's initiative is part of a larger trend among tech giants to invest heavily in AI. Earlier this month, Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) announced an <a href="https://www.benzinga.com/25/01/42801720/microsoft-to-invest-80-billion-in-ai-data-centers-for-fiscal-2025">$80 billion investment</a> for fiscal 2025 to train AI models and deploy cloud applications.
In 2024, Nvidia Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) CEO Jensen Huang also identified a <a href="https://www.benzinga.com/markets/equities/24/08/40617133/nvidia-ceo-jensen-huang-identifies-1-trillion-opportunity-amid-generative-ai-shift-data-centers-">$1 trillion opportunity</a>.
"The world builds about $1 trillion worth of data centers. In a few years, $1 trillion worth of data centers will be all accelerated computing," he said during Nvidia's second-quarter earning call.
In December 2024, Amazon also <a href="https://www.benzinga.com/media/24/12/42356920/amazon-halts-inferentia-ai-chip-development-to-take-on-nvidia-how-trainium-is-shaping-up-to-be-the-new-weapon-in-ai-chip-wars">decided to halt the development</a> of its Inferentia AI chip, focusing instead on the Trainium chip to improve cost performance in AI model training.
Price Action: Amazon's stock fell 2.42% on Tuesday, closing at $222.11. However, it recovered slightly with a 0.11% gain in after-hours trading, according to <a href="https://benzinga.grsm.io/lxquj26b2sag">Benzinga Pro data</a>. 
Photo by Sundry Photography via Shutterstock
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

MSFT

Amazon AWS To Invest $11 Billion In Georgia To Boost AI And Cloud Infrastructure: 'Expect To Create More Than 550 Well-Paying Jobs'

On Tuesday, Cathie Wood-led Ark Invest made some significant adjustments to its portfolio. The most notable of these was the sale of shares in Palantir Technologies Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>) across multiple ETFs, coupled with a substantial sale of ARK 21Shares Bitcoin ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKB#BATS">ARKB</a>).
The Palantir Trade
Ark Invest&#8217;s decision to offload Palantir shares may come as a surprise to many, given the company&#8217;s impressive 355% surge over the past 12 months. The investment firm continued to dump shares of the hot stock. On Tuesday, it offloaded 4,890 shares valued at $342,251 through ARK Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKK#NYSE">ARKK</a>), ARK Next Generation Internet ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKW#NYSE">ARKW</a>) and Ark Fintech Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKF#NYSE">ARKF</a>). Palantir stock ended the day sharply lower by 7.8% at $69.99. Tuesday&#8217;s sale follows Ark&#8217;s <a href="https://www.benzinga.com/trading-ideas/technicals/25/01/42843542/palantir-stock-the-ark-is-rocking-as-palantirs-rally-hits-resistance">disposal of shares</a> worth roughly $15 million on Monday. Despite the sale, Wood remains a long-time supporter of tech disruptors. However, this move underscores growing concerns about Palantir's valuation, especially following Morgan Stanley&#8217;s <a href="https://www.benzinga.com/markets/equities/25/01/42835613/jim-cramer-predicts-palantir-buying-surge-tonight-after-morgan-stanleys-underweight-rating-unless-another-analyst-starts-with-a-sell">recent downgrade</a> to "underweight," setting a $60 price target on the stock.
The ARK 21Shares Bitcoin ETF Trade
On the same day, Ark Invest also made a significant sale of its Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) ETF. The firm sold 18,239 ARK 21Shares Bitcoin ETF units from ARKW. On Tuesday ARKB ended the day 5.8% lower at $96.19. Bitcoin was seen trading 5.2% lower at $96,728.42 at the time of writing. Significantly lower than the psychologically important $100K mark.
This trade comes amidst a favorable environment for crypto gains. Former BitMEX CEO Arthur Hayes predicted Bitcoin&#8217;s <a href="https://www.benzinga.com/markets/cryptocurrency/25/01/42854789/bitcoin-could-peak-by-late-march-arthur-hayes-says-heres-why">price could peak</a> in late March 2025 due to increased dollar liquidity. He highlighted liquidity injections from the Fed&#8217;s Reverse Repo Facility and Treasury&#8217;s General Account, cautioning the positive trend may reverse with debt ceiling pressures.
Other Key Trades:
<ul>
<li>Ark Purchased shares of Gitlab. and Illumina.</li>
<li>The firm loaded up on shares of Pacific Biosciences of California </li>
<li>Ark sold shares of Archer Aviation, Cloudflare and Adaptive Biotechnologies.</li>
</ul>
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</ul>
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/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

ETFs

ARK 21Shares Bitcoin ETF ARK 21Shares Bitcoin ETF

ARKB

ARKF

ARKK

ARKW

Cathie Wood's Tuesday Double Dump: Ark Invest Trims Both Palantir And Bitcoin ETF Holdings

The U.S. financial markets will observe an extraordinary trading pause on Thursday, to honor former President Jimmy Carter&#8216;s state funeral, marking only the fourth such closure for a presidential <a href="https://www.benzinga.com/movers-shakers/24/12/42716329/jimmy-carter-the-39th-us-president-who-championed-human-rights-and-peace-in-the-middle-east-had-died">remembrance in modern market history</a>. 
What Happened: The New York Stock Exchange and Nasdaq will suspend all trading operations, while the bond market will see a shortened session closing at 2 p.m. ET, as recommended by the Securities Industry and Financial Markets Association. 
This follows President Joe Biden&#8216;s executive order declaring Jan. 9 a national day of mourning for Carter, who died on Dec 29 at age 100.
While U.S. <a href="https://www.benzinga.com/24/12/42725647/markets-will-close-for-president-jimmy-carters-state-funeral-what-you-need-to-know">financial markets and post offices will close</a>, most banks will maintain regular operations as the day is not designated as a federal holiday. 
The market closure has sparked debate within the financial community. Notably, Pershing Square CEO Bill Ackman <a href="https://www.benzinga.com/general/social-media/24/12/42737155/bill-ackman-questions-stock-market-closure-to-honor-jimmy-carter-calls-it-shutting-down-commerce">questioned the practice</a>, arguing on social media platform X that &#8220;closing the market is synonymous with shutting down commerce.&#8221; However, NYSE Group President Lynn Martin defended the decision, emphasizing Carter&#8217;s public service legacy.
See Also: <a href="https://www.benzinga.com/markets/25/01/42865028/jim-cramer-predicts-palantir-buying-surge-tonight-after-morgan-stanleys-underweight-rating-unless-an">Jim Cramer Predicts Palantir Buying Surge Tonight After Morgan Stanley&#8217;s Underweight Rating: &#8216;Unless Another Analyst Starts With A Sell&#8230;&#8217;</a>
Why It Matters: Carter&#8217;s presidential tenure (1977-1981) was marked by significant economic challenges, including peak inflation of 13.5%. His appointment of Paul Volcker as Federal Reserve chairman proved pivotal in establishing monetary policies that would later tame inflation, though these measures <a href="https://www.benzinga.com/politics/24/12/42734155/jimmy-carters-complex-economic-legacy-high-inflation-but-effective-hawkish-fed-under-volcker">contributed to his re-election defeat</a>.
For modern investors, Carter&#8217;s economic legacy includes the successful $1.5 billion government-backed rescue of Chrysler Corporation in 1980, which established a precedent for major corporate interventions. The automaker, now part of Stellantis N.V., ultimately repaid $12.5 billion in government loans.
The temporary market closure follows similar observances for former Presidents George H.W. Bush in 2018 and Gerald R. Ford in 2007.
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Image Via Shutterstock 
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Jimmy Carter's Funeral: Markets And Post Offices Closed, Banks Stay Open On Jan. 9

Elon Musk, on Tuesday, predicted a potential drop in prices of cryptocurrencies like Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) if dollar inflation is addressed.
What Happened: The Tesla and Space X CEO expressed his views on how cryptocurrencies would benefit if inflation and government overspending were curbed
&#8220;If dollar inflation is solved, the price in dollars to buy cryptocurrency will actually drop, other things being equal,&#8221; Musk wrote in an X post. &#8220;What matters is the ratio of dollars to cryptocurrency.&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">If dollar inflation is solved, the price in dollars to buy cryptocurrency will actually drop, other things being equal. What matters is the ratio of dollars to crypto.
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1876567714594169283?ref_src=twsrc%5Etfw">January 7, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
The remark was in response to a post by Garry Tan, CEO of Y Combinator, who predicted Dogecoin&#8217;s price would go up if Musk&#8217;s upcoming Department of Government Efficiency, or DOGE, achieves its goal of <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">reducing government spending</a>.
See Also:<a href="https://www.benzinga.com/24/12/42735744/pharma-bro-martin-shkreli-predicts-doom-for-michael-saylors-microstrategy-as-stock-dips-below-300-in-after-hours-trading"> </a><a href="https://www.benzinga.com/25/01/42835979/ethereum-co-founder-vitalik-buterin-offloads-nearly-a-million-in-memecoins-to-benefit-charitiesdogecoins-sister-coin-neiro-plunges-3-after-sale">Ethereum Co-Founder Vitalik Buterin Offloads Nearly A Million In Memecoins To Benefit Charities — Dogecoin&#8217;s Sister Coin NEIRO Plunges 3% After Sale</a>
Why It Matters: Musk&#8217;s comments come in the wake of reports that the <a href="https://www.benzinga.com/markets/cryptocurrency/25/01/42806463/elon-musks-push-for-crypto-powered-everything-app-reflected-in-x-money-leak-as-bitcoin-hovers-around-100k">tech titan was planning to introduce a new Bitcoin and cryptocurrency feature</a> called &#8220;X Money&#8221; on X. 
According to a leak reported by influencer Alex Finn and MacRumors contributing researcher Aaron Perris, &#8220;X Money&#8221; might launch without needing approval from all 50 states.&nbsp;
Musk has been a <a href="https://www.benzinga.com/general/education/25/01/42794433/if-you-invested-1000-in-dogecoin-when-elon-musk-acquired-twitter-heres-how-much-youd-have-now">passionate supporter of DOGE meme coin</a>, and the acronym for his upcoming government department is based on the dog-themed cryptocurrency.
Price Action: At the time of writing, Bitcoin was exchanging hands at $96,967.23, down 4.81% in the past 24 hours, according to <a href="https://pro.benzinga.com/dashboard" target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>. DOGE was priced at $0.3515, crashing 9.41%.
Image via Flickr
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</ul>

Elon Musk Foresees Drop In Bitcoin, Dogecoin Prices If Dollar Inflation Solved: 'What Matters Is The Ratio…'

Sony Group Corp's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SONY#NYSE">SONY</a>) co-founder Akio Morita once in an interview delivered a scathing critique of corporate leaders who prioritize quarterly profits over the long-term health of their companies.
What Happened:&nbsp; He spoke about the common practice of treating businesses as commodities rather than communities of people.
"A company is just like a family, like a home. We are working together, and this group of people working in the same direction should not be treated just like a commodity," he stated.
The legendary co-founder expressed concern over how executives often make drastic cuts during economic downturns, such as mass layoffs, to protect profits.
"Recession was not caused by these employees," he said, adding, "Yet, these employees are fired, losing business, still management stays to keep its profit. I am wondering, where are the human rights of these employees?"
See Also: <a href="https://www.benzinga.com/24/12/42381024/apple-eyes-sony-partnership-for-game-changing-vision-pro-upgrade">Apple Eyes Sony Partnership For Game-Changing Vision Pro Upgrade</a>
Morita also criticized the practice of new management writing off previous losses to make themselves look good while avoiding investments in the company's long-term future.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Sony co-founder Akio Morita on managment who run companies for the short term:<a href="https://t.co/QqeXY8M94J">pic.twitter.com/QqeXY8M94J</a>
&mdash; Jon Erlichman (@JonErlichman) <a href="https://twitter.com/JonErlichman/status/1829255676859953173?ref_src=twsrc%5Etfw">August 29, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
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Why It Matters: Morita&#8217;s passing in 1999 marked the end of an era for Sony Corp. and the Japanese business community.
A Harris <a href="https://www.nytimes.com/1999/10/04/business/akio-morita-co-founder-of-sony-and-japanese-business-leader-dies-at-78.html">poll</a> conducted a year before his passing, revealed that Sony ranked as the top brand among American consumers, surpassing iconic U.S. companies such as General Electric and Coca-Cola.
Under Morita's leadership, Sony made history as the first Japanese company to list its stock in the U.S. in 1961 and became a trailblazer again in 1972 by establishing one of the first Japanese-owned factories on American soil.
Sony currently has a market cap of $126.28 billion, making it the world's 127th most valuable company. The company&#8217;s stock experienced a 13.1% increase in 2024, according to <a href="https://pro.benzinga.com/dashboard">data from Benzinga Pro</a>.
Japanese corporate culture values lifetime employment. Companies prioritize job security and employee loyalty to ensure stability. This contrasts with the U.S., where flexibility and frequent job changes are common.
Japanese firms also avoid mergers and acquisitions. Instead, they focus on organic growth and long-term relationships over quick profits.
Here is a table summarizing some of the largest tech layoffs over the past five years, including notable companies and the number of employees affected:
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Company</td>
<td>Year</td>
<td>Number of Layoffs</td>
<td>Notes</td>
</tr>
<tr>
<td>Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>)</td>
<td>2022</td>
<td>10,000</td>
<td>Multiple rounds of layoffs in late 2022.</td>
</tr>
<tr>
<td>Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>)</td>
<td>2022</td>
<td>11,000</td>
<td>First major round announced in November 2022.</td>
</tr>
<tr>
<td>Twitter (now called X)</td>
<td>2022</td>
<td>6,000+</td>
<td>Approximately 80% reduction under Elon Musk&#8217;s ownership.</td>
</tr>
<tr>
<td>Intel Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>)</td>
<td>2024</td>
<td>15,000</td>
<td>Planned reduction of 15% of workforce.</td>
</tr>
<tr>
<td>Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>)</td>
<td>2024</td>
<td>1,900</td>
<td>Cuts primarily in the gaming division.</td>
</tr>
<tr>
<td>Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>)</td>
<td>2023</td>
<td>12,000</td>
<td>Announced significant layoffs in January.</td>
</tr>
</tbody>
</table>
</figure>
Last year, Sony Interactive Entertainment also announced plans to reduce its PlayStation workforce by approximately 900 employees, representing 8% of its global staff.
Check out more of Benzinga&#8217;s Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech">following this link</a>.​​
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

GOOG

GOOGL

INTC

SONY

Sony Was The First Japanese Company To List On US Markets, Co-Founder Akio Morita Championed 'Workers As Family' Philosophy — Does His Vision Still Resonate Today?

President-elect Donald Trump spotlighted artificial intelligence and drilling expansion as pillars of his economic vision Tuesday, pledging to foster AI-driven innovation while slashing energy<a href="https://www.benzinga.com/topic/regulations"> costs through expanded deregulation.</a>
During a press conference at Mar-a-Lago, Trump outlined plans to accelerate America's leadership in artificial intelligence by supporting private investments in data centers and energy infrastructure.
"A lot of people don&#8217;t realize that AI is going to be a big thing but you'll need double the electricity at least that we have right now," Trump said, hinting at the plan to markedly raise U.S. energy production to meet fast-growing AI demands.
He indicated that expanding access to oil and gas is critical to keeping energy costs low and powering future industry.
Calling Biden's offshore drilling ban "a crime" against America's economic potential, Trump pledged to overturn the policy immediately upon taking office. "We're going to be drilling, and energy costs are going to come way down," he said.
According to Trump, reversing Biden&#8217;s offshore drilling ban would unlock 625 million acres of offshore reserves valued at $50 to $60 trillion.
<h1 class="wp-block-heading">Trump Pledges Faster Permits</h1>
Trump contrasted the U.S. permitting delays with China's rapid expansion of energy infrastructure, which he said is fueling its artificial intelligence sector. 
He called out the U.S. permitting system as a major barrier to economic progress, particularly in the energy sector.
"China is already building massive electric facilities, and you know how they're being fired up? With coal," Trump said. 
The tycoon pledged to streamline environmental permitting for large-scale projects, promising expedited reviews for companies investing $1 billion or more in the U.S. economy. 
"We're going to move them quickly through the environmental process," Trump said, referencing delays that have sometimes lasted more than a decade. 
"I've seen plants in Louisiana where I got it approved in literally a week after they spent 14 and a half years trying to get it done."
Trump framed this regulatory overhaul as essential for keeping America competitive, particularly in energy and artificial intelligence. 
<h1 class="wp-block-heading">Market Reactions</h1>
U.S. oil and gas stocks outperformed on Tuesday, with the Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) up by 1%, yet trimming session gains in afternoon trading.
The broader energy sector&#8217;s price action showed little sign of bullish momentum after Trump&#8217;s remarks.
Among individual names, Devon Energy Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DVN#NYSE">DVN</a>) gained 2.8%, Texas Pacific Land Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TPL#NYSE">TPL</a>) rose 2.7%, and Hess Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HES#NYSE">HES</a>) advanced 2%, leading the pack of Tuesday&#8217;s top-performing, large-cap energy stocks.
The technology-heavy AI sector lagged significantly, with the Global X Artificial Intelligence &amp; Technology ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AIQ#NYSE">AIQ</a>) closing nearly 2% lower. The decline in AI sector came as NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) tumbled 6% and Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) fell 4.1%.
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</ul>
Photo: Lukasz Z via Shutterstock

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Trump Vows To Power AI Boom With Expanded Oil Drilling: 'Need Double The Electricity At Least That We Have Right Now'

Trading Halt: Halted at 7:50:00 p.m. ET - Trading Halt: Halt News Pending

CEROW

CERO

On Tuesday, Pierre Poilievre, the leader of Canada&#8217;s Conservative Party, has publicly denounced the idea proposed by President-elect Trump of making Canada the 51st state of the United States. 
What Happened: Poilievre took to social media platform X to voice his disagreement with Trump&#8217;s proposition. He asserted, &#8220;Canada will never be the 51st state. Period. We are a great and independent country.&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Canada will never be the 51st state. Period. We are a great and independent country. We are the best friend to the U.S. We spent billions of dollars and hundreds of lives helping Americans retaliate against Al-Qaeda's 9/11 attacks. We supply the U.S. with billions of dollars of…
&mdash; Pierre Poilievre (@PierrePoilievre) <a href="https://twitter.com/PierrePoilievre/status/1876737709332738534?ref_src=twsrc%5Etfw">January 7, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Trump has been mulling over the idea of integrating Canada into the United States for several weeks. He clarified on Tuesday that he <a href="https://www.benzinga.com/news/events/25/01/42860583/trump-floats-canada-as-51st-us-state-says-hes-ready-to-use-economic-force-to-achieve-it">does not intend to employ military force</a>, but rather &#8220;economic force&#8221; against the close U.S. ally.
Seizing this opportunity, Poilievre, who is a potential candidate for the next Prime Minister, criticized the current NDP-Liberal government and pledged to &#8220;fight for Canada.&#8221;
He outlined his vision for Canada, stating, &#8220;When&nbsp;I am Prime Minister, we&nbsp;will rebuild our military and&nbsp;take back control of the&nbsp;border to secure both Canada&nbsp;and the U.S. We will&nbsp;take back control of our&nbsp;Arctic to keep Russia and&nbsp;China out. We will axe&nbsp;taxes, slash red tape and&nbsp;rapidly green-light massive resource projects&nbsp;to bring home paycheques and&nbsp;production to our country.&#8221;
He concluded by saying, &#8220;In other words, we will put Canada First.&#8221;
See Also: <a href="https://www.benzinga.com/25/01/42851889/meta-ditches-fact-checking-for-community-notes-zuckerberg-says-opportunity-to-restore-free-expression">Meta Drops Fact-Checking For Community Notes: Zuckerberg Sees &#8216;Opportunity To Restore Free Expression&#8217;</a>
Why It Matters: This development follows a series of events that have strained U.S.-Canada relations. In December, Trump <a href="http://I will fight for Canada.">humorously referred</a> to Canadian Prime Minister Justin Trudeau as &#8220;Governor&#8221; of Canada, hinting at his idea of making Canada the 51st state of America. This was followed by reports that Canada might <a href="https://www.benzinga.com/news/global/24/12/42475000/if-trump-starts-a-trade-war-canada-could-impose-export-taxes-on-oil-uranium-report">impose export taxes</a> on goods like oil and uranium if Trump initiated a trade war.
This month, Trudeau <a href="https://www.benzinga.com/25/01/42823979/canadas-pm-justin-trudeau-steps-down-amid-internal-conflict-and-tension-over-trump-tariffs">announced his resignation</a> amid internal conflict and tension over Trump&#8217;s tariffs. The following day, Trump suggested that Canada could <a href="https://www.benzinga.com/news/events/25/01/42860583/trump-floats-canada-as-51st-us-state-says-hes-ready-to-use-economic-force-to-achieve-it">become the 51st U.S. state</a>, criticizing trade imbalances and subsidies.
Photo Courtesy: Eli Unger On Shutterstock.com
Did You Know?
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<li>Congress Is Making Huge Investments. <a href="https://www.benzinga.com/gov-trades">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
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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/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

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