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Tevogen Bio Holdings

Tevogen Bio Holdings Inc a clinical-stage specialty immunotherapy company harnessing CD8+ cytotoxic T lymphocytes ("CD8+ CTLs" or "CTLs"), to develop off-the-shelf, precision T cell therapies for the treatment of infectious diseases, cancers, and neurological disorders.

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Tevogen Bio Holdings Inc. (NASDAQ: TVGN) shares are trading higher Monday, potentially driven by momentum from a late-Friday announcement regarding operational updates. Here&#39;s what you need to know.

Tevogen Bio Shares Are On The Rise Monday: What&#39;s Going On?

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A look at the most-searched tickers on Benzinga Pro for the month of October. Donald Trump and biotech stocks joined the top 10.

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Tevogen Bio Holdings Inc

Editor&#8217;s Note: The article has been updated with a comment from Amazon.
Amid the bustling holiday season, an Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) driver left 80 packages in a wooded area in Lakeville, Massachusetts. This incident occurred because the company faced intense pressure to meet delivery demands.
What Happened: A stressed Amazon driver abandoned 80 packages&nbsp;in a wooded area near&nbsp;Lakeville, Massachusetts, just days before Christmas.&nbsp;A Lakeville police sergeant discovered&nbsp;the&nbsp;packages during a routine patrol&nbsp;early Sunday morning, finding them scattered in three large totes near 63 Bedford Street, NBC News <a href="https://www.nbcnews.com/news/us-news/stressed-amazon-driver-abandons-80-packages-mass-woods-holiday-shippin-rcna185343">reported</a> on Thursday.
The packages were not reported as stolen or missing. The police contacted a nearby&nbsp;Amazon distribution center in Middleborough&nbsp;to facilitate the return of the items. On Monday, the driver confessed to leaving the packages on the roadside Saturday evening "because they were stressed" and intended to inform their manager about the incident.
See Also:&nbsp;<a href="https://www.benzinga.com/24/12/42664623/cathie-wood-led-ark-invests-monday-moves-dumps-tesla-palantir-stock-adds-amazon?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Cathie Wood-Led Ark Invest&#8217;s Monday Moves: Dumps Tesla, Palantir Stock, Adds Amazon</a>
Lakeville Police Chief Matthew Perkins stated that no criminal charges would be pursued, considering the matter a human resources issue for Amazon. Chief Perkins praised the officers for handling the situation. The driver&#8217;s identity remains undisclosed, and the police department has closed the case without further action.
Amazon responded to <a href="https://pro.benzinga.com">Benzinga</a>&#8216;s queries and said, &#8220;We encourage drivers who aren&#8217;t able, or don&#8217;t feel safe completing their routes to report back to their employer. All packages were delivered to the intended customers ahead of the holiday.&#8221;
Why It Matters: The incident highlights the mounting pressure on Amazon during the holiday season, a critical period for retailers. The fourth quarter, which includes Black Friday, Cyber Monday, and Christmas shopping, can account for up to <a href="https://www.benzinga.com/markets/equities/24/12/42676608/will-amazon-dethrone-walmart-this-holiday-season-here-is-what-you-should-know">40% of annual sales </a>for retailers like Amazon and&nbsp;Walmart Inc. This period is a battleground for retail dominance, with consumers seeking both in-store and online bargains.
Additionally, Amazon&#8217;s operations have been<a href="https://www.benzinga.com/news/24/12/42577506/amazon-shares-rise-as-company-says-operations-remain-unaffected-despite-workers-at-seven-us-facilities-going-on-strike-amid-peak-holiday-shopping"> tested by a strike</a> at seven U.S. facilities, part of a broader push for contract negotiations. Despite this, Amazon announced that its operations remain unaffected. The strike has been labeled the "largest" against Amazon by the International Brotherhood of Teamsters.
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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
Image via Shutterstock

General

'Stressed' Amazon Driver Dumps 80 Packages In Massachusetts Woods Amid Christmas Holiday Rush (UPDATED)

A RyanAir Holdings plc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RYAAY#NASDAQ">RYAAY</a>) flight en route from Riga to Vienna had to divert reportedly due to interference with its GPS signal over Poland. 
What Happened: A&nbsp;RyanAir&nbsp;flight from Riga to Vienna was forced to divert due to GPS signal interference over Poland, as <a href="https://www.diepresse.com/19215484/ryanair-flug-kann-wegen-gestoerter-gps-signale-nicht-in-wien-landen?ref=ues_a">reported</a> by&nbsp;Die Presse&nbsp;on Tuesday. The flight, identified as FR 748,&nbsp;attempted to land in Vienna&nbsp;twice but was unsuccessful.
The captain of the Airbus A320 announced minor technical issues, causing unrest among passengers. Eventually, the aircraft landed safely in Brno, Czech Republic, where the captain explained that the GPS disruption was linked to the ongoing conflict in Ukraine, a frequent occurrence in the region.
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/12/42716303/donald-trump-claims-black-celebrities-were-paid-for-kamala-harris-endorsements?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Donald Trump Claims Black Celebrities Were Paid for Kamala Harris Endorsements</a>
Due to poor visibility, a safe landing in Vienna was not possible without precise positioning, as reported by Die Presse. The weather conditions in Brno were more favorable, allowing for a safe landing, which was met with applause from relieved passengers.
However, the technical issue&nbsp;could not be resolved at&nbsp;Brno airport, necessitating the transport of passengers to Vienna by bus. 
Airbus and RyanAir have yet to respond to Benzinga&#8217;s queries. 
Why It Matters: The incident involving RyanAir&#8217;s flight FR 748 comes just days after an&nbsp;<a href="https://www.benzinga.com/markets/24/12/42714362/azerbaijan-airlines-flight-hit-by-external-interference-over-russia-before-fatal-crash">Azerbaijan Airlines flight</a>&nbsp;experienced &#8220;external interference&#8221; over Russia, leading to a fatal crash in Kazakhstan. The aircraft, a Brazilian-made Embraer 190, was diverted due to damage sustained during the flight, resulting in 38 casualties. Passengers reported hearing blasts, raising concerns about regional air defense systems.
Additionally, another tragic incident occurred at South Korea&#8217;s <a href="https://www.benzinga.com/general/travel/24/12/42715729/tragic-plane-crash-at-s-koreas-muan-international-airport-181-on-board">Muan International Airport</a>, where a Jeju Air flight crashed during landing, killing several passengers. The B737-800 aircraft collided with the airport's outer runway wall, causing the plane to break apart and subsequently catch fire. The plane was carrying a total of 175 passengers and six crew members.
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Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Image via Shutterstock

RYAAY

Days After Two Fatal Crashes, Ryanair Flight To Vienna Diverted Due To Reported GPS Jamming Over Poland

Sen. Bernie Sanders (I-Vt.) announced plans to introduce legislation supporting President-elect Donald Trump&#8216;s proposal to cap credit card interest rates at 10%, as credit card defaults reach their <a href="https://www.benzinga.com/24/12/42735416/el-erian-warns-of-hidden-crisis-in-exceptional-us-economy-as-lower-income-households-face-considerable-challenges">highest levels since the 2008 financial crisis</a>.
What Happened: Major credit card companies saw their stocks decline on Monday, with Visa Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/V#NYSE">V</a>) falling 1.05%, Mastercard Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MA#NYSE">MA</a>) dropping 1.25%, and American Express Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXP#NYSE">AXP</a>) declining 1.24%.
&#8220;Donald Trump proposed a 10% cap on credit card interest rates. Great idea. Let's see if he supports the legislation that I will introduce to do just that.&#8221; Sanders said wrote on X on Monday. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">During the recent campaign Donald Trump proposed a 10% cap on credit card interest rates. Great idea. Let's see if he supports the legislation that I will introduce to do just that.
&mdash; Bernie Sanders (@SenSanders) <a href="https://twitter.com/SenSanders/status/1873834275478659509?ref_src=twsrc%5Etfw">December 30, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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The proposed cap would mark a significant reduction from the <a href="https://www.benzinga.com/personal-finance/24/09/41024812/trumps-bold-plan-limit-credit-card-interest-rates-to-10-but-could-this-move-lead-to-dangerous-pr">current average rate</a> of 21.5%, according to Federal Reserve data. Trump first introduced the idea during a recent campaign rally at Nassau Coliseum, where he told a crowd of 16,000 that rates of 25% to 30% were unacceptable.
The initiative comes as U.S. credit card <a href="https://www.benzinga.com/24/12/42721109/mark-cuban-once-said-credit-card-users-dont-want-to-be-rich-now-us-credit-card-defaults-have-skyrocketed-to-highest-levels-since-2008-financial-crisis">lenders wrote off $46 billion</a> in seriously delinquent loan balances during the first nine months of 2024, a 50% increase from the previous year, according to BankRegData.
&#8220;High-income households are fine, but the bottom third of U.S. consumers are tapped out,&#8221; said Mark Zandi, head of Moody&#8217;s Analytics. &#8220;Their savings rate right now is zero.&#8221;
See Also: <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">Bill Ackman Questions Stock Market Closure To Honor Jimmy Carter, Calls It &#8216;Shutting Down Commerce&#8217;</a>
Why It Matters: Industry groups have expressed strong opposition to the proposal. The Consumer Bankers Association warned that government-imposed price controls would <a href="https://www.benzinga.com/personal-finance/24/09/41024812/trumps-bold-plan-limit-credit-card-interest-rates-to-10-but-could-this-move-lead-to-dangerous-pr">particularly harm lower-income Americans</a>, potentially forcing them to turn to riskier alternatives like payday lenders.
Capital One Financial Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COF#NYSE">COF</a>), the nation&#8217;s third-largest credit card lender, reported its annualized credit card <a href="https://www.benzinga.com/24/12/42735416/el-erian-warns-of-hidden-crisis-in-exceptional-us-economy-as-lower-income-households-face-considerable-challenges">write-off rate increased</a> to 6.1% in November, up from 5.2% a year ago. 
Despite lenders writing off nearly $60 billion in consumer credit card debt over the past year, another $37 billion remains overdue by at least one month.
Odysseas Papadimitriou, head of the consumer credit research firm WalletHub, highlighted that consumer spending power has been weakened. Despite nearly $60 billion in consumer credit card debt being written off in the past year, an additional $37 billion remains overdue by at <a href="https://www.benzinga.com/24/12/42735416/el-erian-warns-of-hidden-crisis-in-exceptional-us-economy-as-lower-income-households-face-considerable-challenges">least one month</a>.
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Image Via Unsplash
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Equities

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Personal Finance

Bernie Sanders Calls Trump's 10% Interest Rate Cap On Credit Card Debt A 'Great Idea' As Defaults Surge To Highest Levels Since 2008: Visa, Mastercard Stocks Fall In Premarket

The iShares Bitcoin Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBIT#NASDAQ">IBIT</a>) by&nbsp;BlackRock Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLK#NYSE">BLK</a>), which debuted earlier this year, has become the most successful exchange-traded fund launch in history, a report said Monday.
What Happened:&nbsp;The investment vehicle, which tracks the spot price of the world&#8217;s biggest cryptocurrency Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), exceeded $50 billion in assets under management within its debut year, an unprecedented feat in the 30-year history of ETFs, <a href="https://www.bloomberg.com/news/articles/2024-12-30/blackrock-s-bitcoin-fund-became-greatest-launch-in-etf-history">according </a>to Bloomberg. 
IBIT clocked the $50 billion mark five times faster than the next quickest ETF, BlackRock&#8217;s&nbsp;own iShares Core MSCI EAFE&nbsp;ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/IEFA#BATS">IEFA</a>), which took nearly four&nbsp;years to achieve the same&nbsp;milestone, Bloomberg ETF&nbsp;analyst Eric Balchunas stated recently.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24IBIT&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$IBIT</a> is now over $50b. It took it 228 days to reach this milestone, the next fastest ETF to reach 50b was <a href="https://twitter.com/search?q=%24IEFA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$IEFA</a> in 1,329 days. So over 5x faster than any ETF ever launched. Ridiculous. h/t <a href="https://twitter.com/JackiWang17?ref_src=twsrc%5Etfw">@JackiWang17</a> for the data <a href="https://t.co/K9vRfAir8U">https://t.co/K9vRfAir8U</a>
&mdash; Eric Balchunas (@EricBalchunas) <a href="https://twitter.com/EricBalchunas/status/1864476749792166370?ref_src=twsrc%5Etfw">December 5, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
IBIT also held more assets than BlackRock&#8217;s Gold ETF, namely, iShares Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAU#NYSE">IAU</a>), as of this writing. Balchunas saw a strong possibility of IBIT beating SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>), the world&#8217;s biggest gold ETF, as early as Jan. 11 to become the &#8220;king of store of value ETFs.&#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">And near lock that <a href="https://twitter.com/search?q=%24IBIT&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$IBIT</a> passes <a href="https://twitter.com/search?q=%24GLD&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$GLD</a> as the king of store of value ETFs, curr has 78% of GLD&#39;s assets, there&#39;s even outside chance it does it by Jan 11th within its first year. Another crazy feat a la this fastest ETFs to $50b chart: <a href="https://t.co/lkvRKv5lOB">pic.twitter.com/lkvRKv5lOB</a>
&mdash; Eric Balchunas (@EricBalchunas) <a href="https://twitter.com/EricBalchunas/status/1869734468048900448?ref_src=twsrc%5Etfw">December 19, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also:&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42735623/trump-backed-platforms-pick-years-chart-topper-6-new-cryptos-added-to-grayscales-top-20-list-with-growth-potential-in-q1-2025">Trump-Backed Platform&#8217;s Pick, Year&#8217;s Chart Topper: 6 New Cryptos Added To Grayscale&#8217;s &#8216;Top 20&#8217; List With Growth Potential In Q1 2025</a>
Why It Matters:&nbsp;This record-breaking performance by IBIT occurred in a momentous year when spot cryptocurrency ETFs made their debut on Wall Street. 
As many as 12 spot ETFs were listed early in January, <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42715516/from-trumps-win-to-debut-of-spot-etfs-these-were-the-biggest-bullish-catalysts-for-bitcoin-in-2024">serving as key drivers</a> for Bitcoin&#8217;s record surge beyond $100,000. 
While still far behind, Balchunas felt <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/12/42666635/blackrocks-bitcoin-etf-could-outshine-sp-500-tracking-spy-to-become-top-investment-vehicle-but-it-will-take-a-long-time-says-prominent-analyst">IBIT could exceed</a> SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), the oldest and largest ETF in the U.S. with $637 billion in AUM, but warned that the process would take time.
Price Action: Shares of IBIT closed 0.24% lower at $53.55 during Monday's regular session, according to&nbsp;<a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA.." target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>. As of this writing, Bitcoin exchanged hands at $93,940.67, up 0.22% in the last 24 hours.
Read Next:&nbsp;
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<li><a href="https://www.benzinga.com/24/12/42736733/nba-star-scottie-pippens-satoshi-nakamoto-delivered-bitcoin-forecasts-have-been-fairly-accurate-says-financial-analyst">NBA Star Scottie Pippen&#8217;s &#8216;Satoshi Nakamoto-Delivered&#8217; Bitcoin Forecasts Fairly Accurate, Says Financial Analyst</a></li>
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Photo courtesy: Shutterstock

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IEFA

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HUIZ

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HIMX

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Pershing Square CEO Bill Ackman questioned the upcoming closure of U.S. stock markets to honor former President Jimmy Carter, sparking debate about the intersection of <a href="https://www.benzinga.com/24/12/42725647/markets-will-close-for-president-jimmy-carters-state-funeral-what-you-need-to-know">commerce and presidential remembrance</a>.
What Happened: &#8220;Why does it honor a former president when we close the stock market?&#8221; Ackman wrote on X on Monday. &#8220;The stock market is the embodiment of capitalism. Closing the market is synonymous with shutting down commerce.&#8221;
The New York Stock Exchange and Nasdaq will <a href="https://www.benzinga.com/24/12/42725647/markets-will-close-for-president-jimmy-carters-state-funeral-what-you-need-to-know">suspend trading on Jan. 9</a>, coinciding with Carter&#8217;s state funeral in Washington, D.C. The closure follows President Joe Biden&#8216;s declaration of a National Day of Mourning for Carter, who died Sunday at age 100.
The market closure continues a longstanding tradition of <a href="https://www.benzinga.com/24/12/42725647/markets-will-close-for-president-jimmy-carters-state-funeral-what-you-need-to-know">honoring deceased presidents</a>. Similar trading halts occurred for former Presidents George H.W. Bush in 2018 and Gerald R. Ford in 2007. The only non-president to receive this honor was Martin Luther King Jr. in 1968.
Carter&#8217;s presidency from 1977 to 1981 was marked by <a href="https://www.benzinga.com/politics/24/12/42734155/jimmy-carters-complex-economic-legacy-high-inflation-but-effective-hawkish-fed-under-volcker">significant economic challenges</a>, including double-digit inflation that peaked at 13.5% during his term. His appointment of Paul Volcker as Federal Reserve chairman proved crucial in eventually taming inflation through aggressive interest rate hikes, though the policy contributed to Carter&#8217;s 1980 electoral defeat.
NYSE Group President Lynn Martin emphasized Carter&#8217;s service, stating, &#8220;Jimmy Carter, with humble roots as a farmer and family man, devoted his life to public service and defending our freedom.&#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">Why does it honor a former president when we close the stock market? The stock market is the embodiment of capitalism. Closing the market is synonymous with shutting down commerce. Aren't there better ways to honor a dead president? <a href="https://t.co/yH0zJ6uC6N">https://t.co/yH0zJ6uC6N</a>
&mdash; Bill Ackman (@BillAckman) <a href="https://twitter.com/BillAckman/status/1873791997502513229?ref_src=twsrc%5Etfw">December 30, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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See Also: <a href="https://www.benzinga.com/24/12/42735416/el-erian-warns-of-hidden-crisis-in-exceptional-us-economy-as-lower-income-households-face-considerable-challenges">El-Erian Warns Of Hidden Crisis In &#8216;Exceptional&#8217; US Economy As Lower Income Households Face &#8216;Considerable&#8217; Challenges</a>
Why It Matters: The Jan. 9 closure adds to two other scheduled market holidays that month: New Year&#8217;s Day and Martin Luther King Jr. Day. During the mourning period, the U.S. flag at the NYSE will fly at half-staff.
Carter&#8217;s economic legacy includes the $1.5 billion government-backed rescue of Chrysler Corporation in 1980, which prevented the <a href="https://www.benzinga.com/news/global/24/12/42728283/former-president-jimmy-carters-business-legacy-includes-chrysler-rescue-high-interest-rates-energy-crisis">automaker&#8217;s bankruptcy and saved thousands of jobs</a>. The company, now part of Stellantis N.V., later repaid $12.5 billion in government loans.
For investors, the upcoming closure means adjusting trading strategies around a shortened trading week, similar to other federal holidays that impact market operations.
Read Next: 
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<li><a href="https://www.benzinga.com/24/12/42736733/nba-star-scottie-pippens-satoshi-nakamoto-delivered-bitcoin-forecasts-have-been-fairly-accurate-says-financial-analyst">NBA Star Scottie Pippen&#8217;s &#8216;Satoshi Nakamoto-Delivered&#8217; Bitcoin Forecasts Fairly Accurate, Says Financial Analyst</a></li>
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Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photos courtesy: Wikimedia and Unsplash

Social Media

STLA

Bill Ackman Questions Stock Market Closure To Honor Jimmy Carter, Calls It 'Shutting Down Commerce'

EV giant Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) said on Tuesday that its <a href="https://www.benzinga.com/24/12/42680075/tesla-exec-says-we-will-be-ready-to-efficiently-produce-autonomous-vehicles-as-shanghai-megafactory-nears-completion">megapack factory in Shanghai </a>has started trial production before formally starting mass production early next year.
What Happened: The Tesla Shanghai megafactory is the company&#8217;s first factory dedicated to the production of energy storage products outside the U.S.&nbsp;Currently, Tesla has only one other factory dedicated to manufacturing megapacks, located in Lathrop, California. The Lathrop facility has the capability of producing 40 GWh of energy storage products.
Tesla officially began the construction of the Shanghai megafactory in May, taking only seven months from the start of construction to starting trial production.
Formal mass production is slated to start in Q1 2025. 
Why It Matters:&nbsp;Megapack is a powerful battery manufactured by the company in addition to its home battery called Powerwall.&nbsp;Each megapack unit can store over 3.9 Megawatt-hours of energy or enough to power an average of 3,600 homes for an hour.
In the three months through the end of September, Tesla&#8217;s energy generation and storage revenue touched&nbsp;<a href="https://www.benzinga.com/news/24/10/41537560/teslas-energy-segment-boom-in-q3-sparks-leadership-changes-veteran-mike-snyder-promoted-as-vp" target="_blank" rel="noreferrer noopener">$2,376 million, marking a growth of 52%&nbsp;</a>as compared to the corresponding period of last year. The energy business achieved a record gross margin of 30.5% and the powerwall product achieved record deployments.
Tesla has another factory in China called Giga Shanghai which produces the company&#8217;s popular Model 3 sedans and Model Y SUVs. The company began construction of the factory in January 2019 and it became operational by the end of the year.
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>
Read Next:
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<li><a href="https://www.benzinga.com/general/space/24/12/42717337/spacex-kicks-off-post-christmas-operations-with-double-launch-eyes-134-missions-in-2024" target="_blank" rel="noreferrer noopener">SpaceX Kicks Off Post-Christmas Operations With Double Launch, Eyes 134 Missions In 2024</a></li>
</ul>
Photo courtesy: Tesla

Global

Tech

Tesla Shanghai Megafactory Starts Trial Production Seven Months After Breaking Ground

<h3>Companies Reporting Before The Bell</h3>
<h3>Companies Reporting After The Bell</h3>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Earnings

Earnings Scheduled For December 31, 2024

MicroStrategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) stock has seemingly diverged with respect to the movement in Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) prices, this trend has been pronounced since the company started issuing more 0% convertible notes in November.
What Happened: MicroStrategy has fallen by 20.34% month-to-date about five times more than the Bitcoin prices, which was down just 4.34% in the same period.
According to an X post by the Kobeissi Letter, the gap between the two assets is widening.
MicroStrategy is the only publicly listed company holding the highest Bitcoin BTC/USD reserves, representing 2.116% of the total 21 million supply, at a cost of $41.11 billion. The company has also raised $20 billion of debt in 2024 to buy more coins.
Another post in the thread said, &#8220;For most of the year, the correlation between MicroStrategy and Bitcoin was incredibly strong. However, something began to shift over the last month, particularly as the company took on tons of debt. Then, MSTR suggested raising the authorized share count by 10 billion.&#8221;
According to Kobeissi, there shouldn&#8217;t exist such a divergence between the performance of the two assets as MSTR is considered a leveraged play on BTC. However, citing an example of a triple-levered S&amp;P 500 ETF, Kobeissi explains how the movement in such assets works.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">If <a href="https://twitter.com/search?q=%24MSTR&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$MSTR</a> is really just a levered <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> play, why is there such a large divergence. Here&#39;s the S&amp;P 500 ETF, <a href="https://twitter.com/search?q=%24SPY&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SPY</a>, compared to a triple levered S&amp;P 500 ETF, <a href="https://twitter.com/search?q=%24SPXL&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SPXL</a>. Since November 1st, <a href="https://twitter.com/search?q=%24SPY&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SPY</a> is up ~3.5% while <a href="https://twitter.com/search?q=%24SPXL&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SPXL</a> is up ~9.8%. This makes sense as it is TRIPLE levered. <a href="https://t.co/CiiX0puZ6N">pic.twitter.com/CiiX0puZ6N</a>
&mdash; The Kobeissi Letter (@KobeissiLetter) <a href="https://twitter.com/KobeissiLetter/status/1873830243523584506?ref_src=twsrc%5Etfw">December 30, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
According to Kobeissi, the MSTR model is to first, &#8220;Borrow money through 0% convertible notes,&#8221; and &#8220;Buy Bitcoin and drive price higher.&#8221; It added that MicroStrategy then sells new shares at a premium and uses the proceeds to buy more Bitcoin &#8211; and this process repeats.
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/12/42721523/apples%20chinese-rival-huawei-slashes-prices-for-new-year-boost-should-tim-cook-led-company-be-worried-heres-what-analysts-are-saying-about-aapl-stock">Apple&#8217;s Chinese Rival Huawei Slashes Prices For New Year Boost: Should Tim Cook-Led Company Be Worried?</a>
Why It Matters: Earlier on Dec. 23, MicroStrategy floated a proposal to increase the number of authorized shares of class A common stock, par value $0.001 per share, from 330,000,000 shares to 10,330,000,000 shares and preferred stock from 5,000,000 shares to 1,005,000,000 shares.
Kobeissi <a href="https://x.com/KobeissiLetter/status/1873830254877565388">said</a>, &#8220;If the plan is approved, bears will say that this is a highly dilutive move for existing shareholders. However, if it is not approved, then MicroStrategy will be unable to continue buying Bitcoin on leverage.&#8221; 
However, the odds of the share count approval being raised are high, since the company&#8217;s co-founder Michael Saylor himself currently holds 46.8% of the voting power.
Sharp deviations have also been witnessed in the exchange-traded funds <a href="https://www.benzinga.com/24/12/42667093/microstrategy-etfs-face-tracking-error-because-of-volatility-here-are-the-potential-risks-investors-face">tracking</a> MicroStrategy, likely stemming from the exposure to its volatile swaps and options.
The T-Rex 2X Long MSTR Daily Target ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSTU#NYSE">MSTU</a>) launched on Sept. 18, this year, and Defiance Daily Target 2x Long MSTR ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSTX#NYSE">MSTX</a>) launched on Aug. 14, are the two U.S.-listed leveraged ETFs which aim to provide twice the daily returns of MicroStrategy. These have lately diverged too as it acts as a levered on-levered play
Price Action: Shares of MicroStrategy were down over 8.19% on Monday and it fell further by 3.09% to $293.59 apiece in after-hours. The stock has returned 342.15% on a year-to-date basis, compared to the Nasdaq Composite's return of 31.97% in the same period, according to <a href="https://www.benzinga.com/pro/">Benzinga Pro</a> data.
About 12 analysts <a href="https://www.benzinga.com/quote/MSTR/analyst-ratings">tracked</a> by Benzinga have a consensus ‘buy' rating on the stock with a price target of $449.5 per share.
The three most recent analyst ratings between Bernstein, TD Cowen, and Barclays imply an 86.20% upside for MSTR.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/quote/MSTR/analyst-ratings"><img loading="lazy" decoding="async" width="943" height="352" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/31015247/MSTR-ANR-latest.png" alt="" class="wp-image-712727" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/31015247/MSTR-ANR-latest.png 943w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/31015247/MSTR-ANR-latest-300x112.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/31015247/MSTR-ANR-latest-768x287.png 768w" sizes="(max-width: 943px) 100vw, 943px" /></a></figure>
Read Next:
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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/12/42720866/bond-vigilantes-send-loud-warning-message-as-treasuries-climb-to-may-highs-is-the-santa-rally-in-serious-doubt-heres-what-analysts-say">Bond Vigilantes Send &#8216;Loud Warning Message&#8217; As Treasuries Climb To May Highs: Is The Santa Rally In &#8216;Serious Doubt&#8217;? Here&#8217;s What Analysts Say</a></li>
</ul>
Photo courtesy: Shutterstock

ETF Opportunities Trust T-Rex 2X Long MSTR Daily Target ETF

MSTU

MSTX

Bitcoin's Levered Play MicroStrategy Witnesses Divergence: Shares Underperform BTC As Company Buys More Coins By Issuing 0% Convertible Notes

Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) is on the cusp of a significant growth phase, fueled by its leadership in AI infrastructure. 
What Happened: Investor Ross Gerber compared Jensen Huang&#8216;s chip giant current financial trajectory to Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) during the early iPhone years, highlighting the immense potential in AI, Yahoo Finance <a href="https://finance.yahoo.com/news/nvidia-may-be-entering-a-limitless-era-investor-203859004.html">reported</a> on Tuesday.
&#8220;Nvidia is printing money like Apple did in the early days of the iPhone,&#8221; he said in an interview with Yahoo Finance.
Gerber, a decade-long investor in Nvidia and Tesla, sees the company&#8217;s growth driven by the global development of AI infrastructure, largely supported by Nvidia&#8217;s cutting-edge chips. He mentioned that Nvidia&#8217;s profitability and strong market position in the chip industry make the upcoming five years promising. 
Gerber also compared Nvidia to Tesla, adding the former has <a href="https://www.benzinga.com/markets/equities/24/12/42717543/nvidia-tops-tesla-as-better-bet-over-10-years-says-ross-gerber-must-have-in-portfolio-along-with-these-2-stocks">been a better investment</a> in the past decade.
This year, Nvidia has drawn&nbsp;$30 billion in retail investor&nbsp;inflows, ranking as the most favored&nbsp;stock among retail investors in&nbsp;2024. Despite some traders recently offloading shares, Nvidia&#8217;s stock has surged 181% year to date.
Nvidia&#8217;s founder and CEO, Jensen Huang, is set to speak at CES 2025, potentially further boosting the stock.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42714205/kiyosaki-warns-of-bitcoin-in-black-rocks-etf-it-is-suppressing-bitcoin-price?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Kiyosaki Warns Of Bitcoin In Black Rocks ETF: &#8216;It Is Suppressing Bitcoin Price&#8217;</a>
Why It Matters: Nvidia&#8217;s strategic focus on robotics as a new growth driver comes amid fierce competition in the AI chipmaking sector, particularly from Advanced Micro Devices, Inc. . Nvidia&#8217;s valuation <a href="https://www.benzinga.com/media/24/12/42721414/nvidia-targets-robotics-as-next-big-opportunity-amid-rising-ai-rivalry">surpassed $3 trillion</a>, rivaling Apple Inc. , fueled by the AI boom. The company has also invested in humanoid robotics firms like Figure AI, marking its entry into &#8216;physical AI.&#8217;
Additionally, Ibiden Co., a <a href="https://www.benzinga.com/tech/24/12/42718022/days-after-key-nvidia-supplier-warned-of-ai-spending-slowdown-another-nvda-partner-considers-accelerating-ex">key supplier for Nvidia</a>, is considering expanding its production capacity to meet the surging demand for AI chip package substrates. This move underscores the robust demand for AI-use substrates, with all available stock being quickly acquired by customers. Ibiden&#8217;s new substrate factory in Gifu, Japan, is expected to begin operations at 25% capacity by late 2025, eventually reaching 50% by March 2026.
Price Action: Nvidia was trading slightly lower at $137.24 in overnight trading hours on Robinhood at 2:19 am ET.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42716028/bill-gates-expressed-skepticism-towards-bitcoin-i-would-short-it-if-possible?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bill Gates Expressed Skepticism Towards Bitcoin: &#8216;I Would Short It&#8217; If Possible</a></li>
</ul>
Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Image via Shutterstock

Analyst Color

Jensen Huang's Nvidia 'Printing Money Like Apple' In Early iPhone Days, Says Tesla Bull Ross Gerber

The Greenbrier Companies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GBX#NYSE">GBX</a>) will release its first-quarter financial results, after the <a href="https://www.benzinga.com/quote/GBX/earnings">closing bell, on Wednesday, Jan. 8, 2025.</a>
Analysts expect the Lake Oswego, Oregon-based company to report quarterly earnings at $1.15 per share, up from 96 cents per share in the year-ago period. Greenbrier projects quarterly revenue of $849.51 million, compared to $808.8 million a year earlier, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
On Oct. 23, Greenbrier posted better-than-expected results for its fourth quarter.
Greenbrier shares fell 1.2% to close at $61.29 on Monday.
Benzinga readers can access the latest analyst ratings on the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/09/28888638/exclusive-study-finds-benzinga-analyst-ratings-data-yields-market-beating-strategie">Analyst Stock Ratings</a> page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.
Let's have a look at how Benzinga's most-accurate <a href="https://www.benzinga.com/quote/GBX/analyst-ratings">analysts have rated the company</a> in the recent period.
<ul>
<li>B of A Securities analyst Ken Hoexter maintained an Underperform rating and raised the price target from $42 to $50 on Oct. 24. This analyst has an accuracy rate of 66%.</li>
<li>Susquehanna analyst Bascome Majors maintained a Positive rating and increased the price target from $63 to $65 on Oct. 21. This analyst has an accuracy rate of 60%.</li>
<li>Stephens &amp; Co. analyst Justin Long maintained an Overweight rating and boosted the price target from $62 to $65 on April 8. This analyst has an accuracy rate of 71%.</li>
</ul>
Considering buying GBX stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="600" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/31023832/image-234-1024x600.png" alt="" class="wp-image-712815" style="width:567px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/31023832/image-234-1024x600.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/31023832/image-234-300x176.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/31023832/image-234-768x450.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/31023832/image-234.png 1152w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
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Price Target

Analyst Ratings

Greenbrier Gears Up For Q1 Print; Here Are The Recent Forecast Changes From Wall Street's Most Accurate Analysts

Financial analyst&nbsp;Jim Bianco&nbsp;commented on&nbsp;Scottie Pippen&#8216;s prophetic dream encounters with Satoshi Nakamoto on Monday, noting that the NBA legend&#8217;s Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) forecasts have been surprisingly accurate.
What Happened: Bianco, President and founder of Bianco Research, said in an X post that Pippen&#8217;s predictions have gained attention due to their accuracy, regardless of the bizarre methods he claims to use, such as receiving messages from Bitcoin&#8217;s pseudonymous creator in dreams.
Bianco also analyzed Pippen&#8217;s most recent forecast, where the basketball star said, &#8220;Just took a nap and Satoshi whispered, &#8216;Bitcoin will go closer to Black Mamba numbers before it goes back to Chamberlain.'&#8221; 
According to Bianco, the post referenced NBA legends Kobe Bryant and Wilt Chamberlain, who scored 81 and 100 points in a single game, respectively. Put simply, Pippen expected Bitcoin to retrace to $81,000 before reclaiming $100,000.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Yes, that Scottie Pippen regularly tweets BTC price forecasts. He is getting noticed because whatever technique he uses—including getting whispers from dead people in his sleep—his tweets have been fairly accurate forecasts. Interpretation Black Mamba = Kobe Bryant. Most points… <a href="https://t.co/VaSg5Z9GYx">https://t.co/VaSg5Z9GYx</a>
&mdash; Jim Bianco (@biancoresearch) <a href="https://twitter.com/biancoresearch/status/1873753459184603236?ref_src=twsrc%5Etfw">December 30, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also:&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42735623/trump-backed-platforms-pick-years-chart-topper-6-new-cryptos-added-to-grayscales-top-20-list-with-growth-potential-in-q1-2025">Trump-Backed Platform&#8217;s Pick, Year&#8217;s Chart Topper: 6 New Cryptos Added To Grayscale&#8217;s &#8216;Top 20&#8217; List With Growth Potential In Q1 2025</a>
Why It Matters: As it turns out, the leading cryptocurrency has slipped below the key support level of $93,000 and <a href="https://www.benzinga.com/24/12/42735439/bitcoin-falls-below-93k-ethereum-dogecoin-slip-ahead-of-new-year-top-analyst-anticipates-problem-for-apex-crypto">risked falling further</a>. Since the Christmas surge, Bitcoin has dropped as much as 6.5%.
Earlier, Pipen grabbed eyeballs by predicting that Bitcoin <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41797612/nba-legend-scottie-pippens-prophetic-satoshi-nakamoto-dream-misses-bitcoin-numbers-on-elec">would hit $84,000</a> on Election Day. While the digital asset missed these projections, it reached $84,000 a week later.
Pippen, widely regarded as one of the NBA&#8217;s greatest players, is a known Bitcoin advocate. He has been using his social media to promote the cryptocurrency, although in ways one would consider frivolous. He said that Satoshi visited him in dreams to predict the coin&#8217;s next moves.
Price Action: At the time of writing, Bitcoin was exchanging hands at $92,648.60, down 1.11% 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.." target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>.
Image via Wikimedia Commons
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<li><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">&#8216;Pharma Bro&#8217; Martin Shkreli Predicts Liquidation Doom For MicroStrategy Amid Fall Below $300, Says Bitcoin Will Hit $250K Without Michael Saylor</a></li>
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Disclaimer:&nbsp;This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.<a href="https://www.benzinga.com/apis?utm_source=benzinga.com&amp;utm_campaign=article-bottom" rel="noreferrer noopener" target="_blank"></a>

NBA Star Scottie Pippen's 'Satoshi Nakamoto-Delivered' Bitcoin Forecasts Fairly Accurate, Says Financial Analyst

The CNN Money Fear and Greed index showed an increase in the overall fear level, while the index remained in the &#8220;Fear&#8221; zone on Monday.
U.S. stocks settled lower on Monday, with the Dow Jones index dipping more than 400 points during the session. Large tech stocks fell again on Monday, with shares of Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) declining 3.3% and Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) losing 1.4% during the session.
Although major indices settled lower on Friday, they still recorded gains last week. The blue-chip index gained around 0.4% last week, ending a three-week losing streak, while the S&amp;P 500 added 0.7%. The Nasdaq, meanwhile, rose about 0.8% during the week.
On the economic data front, the Chicago PMI fell to 36.9 in December from 40.2 in November and missing market estimates of 42.5. U.S. pending home sales increased 2.2% month-over-month in November, following a revised 1.8% gain in October and above market estimates of a 0.7% increase. The Dallas Fed's Texas manufacturing activity index rose six points to a reading of 3.4 in December.
All sectors on the S&amp;P 500 closed on a negative note, with consumer discretionary, materials, and healthcare stocks recording the biggest losses on Monday.
The Dow Jones closed lower by around 418 points to 42,573.73 on Monday. The S&amp;P 500 fell 1.07% to 5,906.94, while the Nasdaq Composite dipped 1.19% to close at 19,486.79 during Monday's session.
What is CNN Business Fear &amp; Greed Index?
At a current reading of 27.9, the index remained in the &#8220;Fear&#8221; zone on Monday, versus a prior reading of 30.8.
The Fear &amp; Greed Index is a measure of the current market sentiment. It is based on the premise that higher fear exerts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equal-weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness.
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</ul>
Photo courtesy: Shutterstock

Dow Tumbles Over 400 Points As Tesla, Meta Decline: Fear Continues To Grip Markets, Greed Index Remains In Red Zone

With U.S. stock futures trading slightly lower this morning on Tuesday, some of the stocks that may grab investor focus today are as follows:
<ul>
<li>EHang Holdings Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EH#NASDAQ">EH</a>) announced strong preliminary revenues for the fourth quarter and fiscal year ended Dec. 31. Total revenues for the fourth quarter are projected to reach RMB162 million, representing a 20% increase from the guidance of RMB135 million, and a year-over-year surge of 187% from the year-ago quarter, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>. EHang Holdings shares fell 0.4% to $15.60 in the after-hours trading session.</li>
<li>Sangamo Therapeutics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SGMO#NASDAQ">SGMO</a>) announced its collaboration and license agreement with Pfizer on giroctocogene fitelparvovec will terminate effective April 21, 2025. Sangamo Therapeutics shares tumbled 60.4% to $0.9270 in the after-hours trading session.</li>
<li>Cemtrex, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CETX#NASDAQ">CETX</a>) posted stronger-than-expected sales for the fourth quarter, reporting quarterly sales of $18.10 million which beat the analyst consensus estimate of $16.39 million. Cemtrex shares climbed 12.1% to $3.51 in after-hours trading.</li>
</ul>
Check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
<ul>
<li>CompoSecure, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMPO#NASDAQ">CMPO</a>) announced plans to spin off Resolute Holdings Management. CompoSecure shares surged 7.4% to $16.80 in the after-hours trading session.</li>
<li>Ambow Education Holding Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMBO#NYSE">AMBO</a>) posted net income of $0.1 million for the second quarter, versus a year-ago net loss of $1.0 million. Its net revenues fell by 11.1% to $2.4 million during the quarter. Ambow Education shares dipped 13.8% to $2.94 in the after-hours trading session.</li>
</ul>
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</ul>
Photo courtesy: Shutterstock

AMBO

CETX

CMPO

SGMO

CompoSecure, Cemtrex And 3 Stocks To Watch Heading Into Tuesday

Lucid Motors (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LCID#NASDAQ">LCID</a>) has started delivering their latest offering &#8211; <a href="https://www.benzinga.com/tech/24/12/42432727/lucids-gravity-gets-official-range-estimate-higher-than-teslas-model-x-but-lower-than-its-own-air-sedan">the electric Gravity SUV</a> &#8211; to customers over the weekend, the company said in a post on X on Tuesday.
What Happened: &#8220;This weekend the first Lucid Gravity customers received their vehicles and departed the factory as a convoy,&#8221; Lucid wrote in a post on X. The post was accompanied by a short video of several customers checking their vehicles before riding out together from the company&#8217;s factory in Casa Grande, Arizona.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">This weekend the first Lucid Gravity customers received their vehicles and departed the factory as a convoy. This is just the beginning. Here&#39;s to a remarkable 2025. <a href="https://t.co/ZIF5MwhNnX">pic.twitter.com/ZIF5MwhNnX</a>
&mdash; Lucid Motors (@LucidMotors) <a href="https://twitter.com/LucidMotors/status/1873858864787185839?ref_src=twsrc%5Etfw">December 30, 2024</a></blockquote>
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Lucid&nbsp;<a href="https://www.benzinga.com/24/11/41838253/lucid-rises-nearly-5-in-pre-market-after-strong-q3-results-opening-orders-for-gravity-suv" target="_blank" rel="noreferrer noopener">started taking orders</a>&nbsp;for Gravity last month. Orders are now being taken for the Grand Touring trim of the SUV starting from $94,900. Production of the lower-priced Touring trim of the vehicle, starting at $79,900, will start only in late 2025, the company previously said.
Lucid, which entered the EV market with its premium Air sedan, is looking to expand its total addressable market with the Gravity. Lucid CEO Peter Rawlinson previously said that with Gravity, the company has now entered a "market that's about 6 times larger than our addressable market last year with Air."
Why It Matters:&nbsp;The Gravity is expected to rival&nbsp;Tesla Inc.'s Model X SUV which starts at $79,990 for the base version and at $94,990 for the more premium Plaid version.
During Lucid's&nbsp;<a href="https://www.benzinga.com/news/24/05/38663810/lucid-ceo-throws-down-the-gauntlet-with-48k-ev-plan-to-take-on-teslas-dominance-wait-until-our-midsi" target="_blank" rel="noreferrer noopener">first-quarter earnings call in May</a>, the CEO said that Gravity has a &#8220;significant opportunity&#8221; that the Model X did not capture. While the Model X is a bit car-like, the Gravity is a proper three-row SUV and is on track to become the &#8220;world&#8217;s best SUV,&#8221; he said.
Lucid is also looking forward to starting production of a high-volume midsized platform priced at around $48,000 in late 2026 as a&nbsp;<a href="https://www.benzinga.com/news/24/06/39135581/youtuber-mkbhd-praises-lucid-air-sapphire-if-it-couldnt-be-a-tesla-it-would-have-to-be-this" target="_blank" rel="noreferrer noopener">direct competitor&nbsp;</a>to Tesla's mass-market offerings Model 3 and Model Y.
The company, however, is yet to make a profit. For the third quarter, the EV company reported an adjusted quarterly loss of 28 cents per share.
Price Action:&nbsp;Lucid shares closed down 1.6% on Monday at $3.15. The stock is down by over 24% year-to-date, according to data from&nbsp;<a href="https://pro.benzinga.com/dashboard" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>.
Lucid has a consensus price target of $5.04 based on the ratings of 14 analysts tracked by Benzinga. While the highest price target of&nbsp;$12 was&nbsp;issued by&nbsp;RF Lafferty&nbsp;on&nbsp;February 23, 2023, the low of&nbsp;$2 was&nbsp;issued by&nbsp;RBC Capital&nbsp;on&nbsp;November 19, 2024.
Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>
Read Next:
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<li><a href="https://www.benzinga.com/general/space/24/12/42717337/spacex-kicks-off-post-christmas-operations-with-double-launch-eyes-134-missions-in-2024" target="_blank" rel="noreferrer noopener">SpaceX Kicks Off Post-Christmas Operations With Double Launch, Eyes 134 Missions In 2024</a></li>
</ul>
Photo courtesy: Lucid

LCID

Lucid Starts Deliveries Of Tesla Model X Competitor Gravity SUV

The EU&#8217;s USB-C directive has officially come into force, mandating a universal charging port for electronic devices.
What Happened: The directive, effective from 2025, requires mobile phones to feature a USB-C port.
All 27 EU member states had until Dec. 28 to incorporate this directive into their national laws. The regulation covers a wide range of devices, including mobiles, tablets, digital cameras, and portable speakers, among others.
See Also: <a href="https://www.benzinga.com/tech/24/12/42715283/apples-ai-driven-growth-airtag-2-airpods-health-features-and-iphone-17-pro-this-week-in-appleverse?itm_source=parsely-api">Apple&#8217;s AI-Driven Growth, AirTag 2, AirPods&#8217; Health Features, And iPhone 17 Pro: This Week In Appleverse</a>
Laptop manufacturers have until April 28, 2026, to comply. However, certain high-power devices, like the Sony Group Corp's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SONY#NYSE">SONY</a>) PlayStation 5, are exempt.
Additionally, the directive stipulates that devices capable of charging with higher voltages or currents must support USB Power Delivery (USB-PD). This affects brands like OnePlus and Oppo.
The European Commission also permits the sale of new devices without chargers to minimize waste. A graphic on retail boxes will indicate if a charger is included, helping consumers adapt to the new regulations.
Subscribe to the <a href="https://bztechtrends.beehiiv.com/subscribe">Benzinga Tech Trends newsletter</a> to get all the latest tech developments delivered to your inbox.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">It's time for THE charger. Today, the USB-C becomes officially the common standard for charging electronic devices in the EU. It means better-charging technology, reduced e-waste, and less fuss to find the chargers you need. <a href="https://twitter.com/hashtag/DigitalEU?src=hash&amp;ref_src=twsrc%5Etfw">#DigitalEU</a>
&mdash; European Commission (@EU_Commission) <a href="https://twitter.com/EU_Commission/status/1872885193255915618?ref_src=twsrc%5Etfw">December 28, 2024</a></blockquote>
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Why It Matters: The directive also allows devices to retain proprietary charging solutions alongside USB-C ports.
This means that the current MacBook lineup with MagSafe complies, as it supports charging through both Apple Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) magnetic connector and the EU-approved technology.
While many companies voluntarily embraced USB-C, the legislation applied enough pressure to compel holdouts like Apple to finally incorporate USB-C into their devices.
Despite being a <a href="https://www.benzinga.com/news/23/09/34475640/heres-why-apple-took-8-years-to-bring-usb-c-to-iphone-despite-contributing-to-its-development">key contributor to the development</a> of the USB-C port, Apple was slow to adopt it for its iPhones.
The company is now facing challenges in <a href="https://in.benzinga.com/content/36090760/apple-requests-delay-in-indias-new-usb-c-port-mandate-heres-why">markets like India</a>, where similar regulations are being considered.
Image Credits &#8211; Shutterstock
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/tech/24/12/42715441/openais-for-profit-transition-trumps-ai-advisor-and-googles-code-red-this-week-in-ai?itm_source=parsely-api">OpenAI&#8217;s For-Profit Transition, Trump&#8217;s AI Advisor, And Google&#8217;s Code Red: This Week In AI</a></li>
</ul>
Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.

Sony Group Corporation American Depositary Shares

SONY

MagSafe Won't Be Phased Out By EU's New Directive: Here's Why MacBook Users Have Nothing To Worry About

<ul>
<li>Total revenues for the fourth quarter 2024 are expected to reach RMB162 million, representing an increase of 20% from the guidance of RMB135 million, and a year-over-year increase of 187% from RMB56.6 million in the fourth quarter of 2023.</li>
<li>Total revenues for the fiscal year 2024 are expected to reach RMB454 million, representing an increase of 6% from the guidance of RMB427 million, and a year-over-year increase of 287% from RMB117.4 million in 2023.</li>
</ul>
The upward performance reflects stronger-than-expected market demand for EHang's flagship EH216-S pilotless passenger-carrying aerial vehicles, key operational milestones, and growing momentum in the Company's business.

EHang Expects Q4 2024 Revenue Growth of 187% YoY To RMB162M And FY24 Revenue Growth Of 287% To RMB454M

The <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/12/42720866/bond-vigilantes-send-loud-warning-message-as-treasuries-climb-to-may-highs-is-the-santa-rally-in-serious-doubt-heres-what-analysts-say">Santa</a> Claus Rally, a typical year-end market surge, has seemingly failed to materialize this year, with stocks experiencing a recent downturn. However, this analyst expects the S&amp;P 500 index to hit 7,000 points in the first half of 2025.
What Happened: According to Fundstrat Insights, Tom Lee, the head of research at Fundstrat attributed this decline to profit-taking and investor uncertainty surrounding the Federal Reserve&#8217;s future interest rate policies. However, he emphasizes that the positive market outlook for 2025 remains largely unchanged.
According to Lee, even if the S&amp;P 500 closes the year at 5,900, it doesn&#8217;t diminish the significant potential for growth in 2025.
Looking ahead to next year, Lee said that he will closely monitor the CEO confidence index and the ISM manufacturing data for signs of economic expansion. He predicts that the S&amp;P 500 could potentially reach 7,000 in the first half of 2025, representing substantial upside from current levels.
Louis Navellier from Navellier &amp; Associates also said in his note that &#8220;It certainly appears to be a bit of profit-taking.&#8221;
According to Ed Yardeni of Yardeni Research there are multiple reasons for missing the Santa Rally. &#8220;From a sentiment perspective, there have been too many bulls. From a technical perspective, breadth has been narrowing again as a few LargeCap momentum stocks continue to outperform.&#8221;
&#8220;From a fundamental perspective, while earnings growth should remain bullish, the Fed may be done easing monetary policy for a while at the same time as the outlook for fiscal policy under Trump 2.0 is uncertain. From a valuation perspective, forward P/Es are stretched,&#8221; he added.
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/12/42720866/bond-vigilantes-send-loud-warning-message-as-treasuries-climb-to-may-highs-is-the-santa-rally-in-serious-doubt-heres-what-analysts-say">Bond Vigilantes Send &#8216;Loud Warning Message&#8217; As Treasuries Climb To May Highs: Is The Santa Rally In &#8216;Serious Doubt&#8217;? Here&#8217;s What Analysts Say</a> 
Why It Matters: Ryan Detrick, the chief market strategist at Carson Research, in an earlier X post had highlighted that no other seven-day period except the last seven days of the year is more likely to be higher. This period of &#8216;Santa Rally&#8217; has given positive returns at least 78.4% of the time.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">These next 7 trading days are known as the Santa Claus Rally period. There is no 7 day period more likely to be higher (78.4% of the time) and only two 7 day periods have a better avg return (1.29%). &#x1f385; <a href="https://t.co/40qVwHa1rS">pic.twitter.com/40qVwHa1rS</a>
&mdash; Ryan Detrick, CMT (@RyanDetrick) <a href="https://twitter.com/RyanDetrick/status/1871322312219468049?ref_src=twsrc%5Etfw">December 23, 2024</a></blockquote>
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Reinstalling confidence among investors Navellier added &#8220;Normally, we rally going into New Year&#8217;s, and we normally rally in the new year. So, if we don&#8217;t, it means we have to wait until the A team comes back, which will of course be after the New Year&#8217;s holiday.&#8221;
Price Action: According to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data, the exchange-traded fund tracking the S&amp;P 500, SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) was down 2.18% since Dec. 24. Whereas, Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) tracking Nasdaq 100, was down 2.71%. The fund tracking Russell 2000 iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) declined 1.21% and Dow Jones tracker SPDR Dow Jones Industrial Average ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) fell 1.56% in the same period.
<figure class="wp-block-image size-large"><a href="https://pro.benzinga.com/dashboard"><img loading="lazy" decoding="async" width="1024" height="576" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/31003734/ETFs-Equity-1024x576.png" alt="" class="wp-image-712596" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/31003734/ETFs-Equity-1024x576.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/31003734/ETFs-Equity-300x169.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/31003734/ETFs-Equity-768x432.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/31003734/ETFs-Equity-1536x864.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/31003734/ETFs-Equity.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
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<table>
<tbody>
<tr>
<td>Index/ETF</td>
<td>YTD</td>
</tr>
<tr>
<td>S&amp;P 500 Index</td>
<td>24.54%</td>
</tr>
<tr>
<td>SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)</td>
<td>24.45%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>28.13%</td>
</tr>
<tr>
<td>Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>)</td>
<td>28.07%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>12.88%</td>
</tr>
<tr>
<td>SPDR Dow Jones Industrial Average ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)</td>
<td>12.91%</td>
</tr>
<tr>
<td>Rusell 2000</td>
<td>10.68%</td>
</tr>
<tr>
<td>iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>)</td>
<td>10.61%</td>
</tr>
</tbody>
</table>
</figure>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/12/42721523/apples%20chinese-rival-huawei-slashes-prices-for-new-year-boost-should-tim-cook-led-company-be-worried-heres-what-analysts-are-saying-about-aapl-stock">Apple&#8217;s Chinese Rival Huawei Slashes Prices For New Year Boost: Should Tim Cook-Led Company Be Worried? Here&#8217;s What Analysts Are Saying About AAPL Stock</a></li>
</ul>

Market Summary

Broad U.S. Equity ETFs

SPDR Dow Jones Industrial Average ETF Trust

Wall Street Meets The Grinch Instead Of Santa But This Analyst Believes 'S&P 500 Can Get Close To 7,000' In First Half Of 2025

A new leak reiterates that Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) is reportedly set to <a href="https://www.benzinga.com/news/24/11/41699427/apples-iphone-17-base-models-could-finally-get-this-highly-requested-pro-feature">improve the display technology</a> in its upcoming iPhone 17 series.
What Happened: Over the weekend, Weibo-based Chinese leaker Digital Chat Station said that supply chain materials support the rumors of a higher refresh rate for the standard iPhone 17.
Although the exact refresh rate wasn&#8217;t specified, earlier reports suggest a 120Hz ProMotion rate, which was previously exclusive to Pro models, might be implemented.
See Also: <a href="https://www.benzinga.com/tech/24/12/42715441/openais-for-profit-transition-trumps-ai-advisor-and-googles-code-red-this-week-in-ai?itm_source=parsely-api">OpenAI&#8217;s For-Profit Transition, Trump&#8217;s AI Advisor, And Google&#8217;s Code Red: This Week In AI</a>
<figure class="wp-block-image size-large"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/31010935/Screenshot-2024-12-31-at-11.39.28%E2%80%AFAM-1024x465.png" alt="" class="wp-image-712644" /><figcaption class="wp-element-caption">Source: Weibo</figcaption></figure>
ProMotion technology, enabled by low-temperature polycrystalline oxide (LTPO) panels, allows for variable refresh rates from 1Hz to 120Hz.
This technology enhances user experience with smoother scrolling and video playback, and always-on functionality for time, widgets, and notifications on Lock Screens.
Subscribe to the <a href="https://bztechtrends.beehiiv.com/subscribe">Benzinga Tech Trends newsletter</a> to get all the latest tech developments delivered to your inbox.
Why It Matters: Earlier, Ross Young from Display Supply Chain Consultants indicated that both the standard iPhone 17 and a new model, tentatively named &#8220;iPhone 17 Air,&#8221; will feature ProMotion displays.
This shift means all four iPhone models in 2025 will have ProMotion, eliminating the 60Hz displays that have been standard in previous base models.
Meanwhile, Novatek&#8217;s OLED technology could play a crucial role in the design of the <a href="https://www.benzinga.com/news/24/10/41195325/apple-might-have-just-found-the-technology-to-power-its-thin-iphone-17-air-display">ultra-thin iPhone 17 Air</a>.
Leaks regarding iPhone 17 Pro Max suggest that the device could feature 12GB DRAM and upgraded cooling systems. These enhancements, along with improved on-device AI capabilities, are likely to be <a href="https://www.benzinga.com/news/24/10/41195325/apple-might-have-just-found-the-technology-to-power-its-thin-iphone-17-air-display">major selling points</a> for the iPhone 17 Pro Max.
Check out more of Benzinga's Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech">following this link</a>.
Read Next:
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

iPhone 17 To Get Display Upgrade As Apple Finally Ditches 60Hz Technology? New Leak Reiterates Possibility

Tevogen (TVGN) Bio provided additional guidance on the first clinical product of the company's proprietary ExacTcell technology, TVGN 489, designed...

Tevogen provides more guidance on ExacTcell technology

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Tevogen regains compliance with Nasdaq

Tevogen Bio (TVGN) announced its Artificial Intelligence effort, Tevogen.AI, had partnered with Microsoft (MSFT) (MSFR) Using Microsoft's suite of ...

Tevogen leverages Microsoft partnership to deliver target identification for HPV

Tevogen Bio Holdings reports Q3 results

Kirti Desai, CPA, Tevogen's (TVGN) CFO, commented, "The company is in a unique position as it relates to reporting intangible assets on our balance...

Tevogen reports Q3 EPS (3c) vs (3c) last year

Tevogen (TVGN) Bio announced addition responsibilities for key leaders to further expand company capabilities. As part of this leadership evolution...

Tevogen announces additional responsibilities for key leaders

Tevogen Bio Claims $10 Billion IP Potential But Hinges On Monetization

Tevogen Bio Holdings Inc.: Excessive Insider Ownership And Poised For A Seasonal Rebound

Tevogen (TVGN) Bio filed for an additional patent, "Systems And Methods For Predicting Immunologically Active Peptides With Machine Learning Models...

Tevogen files for additional patent on predictive AI

ARLP

COIN

CORZ

CPAY

EQNR

GLUE

GOOG

GOOGL

NPPXF

NTTYY

PRCT

REAL

TVGNW

Press Releases

UPDATE - Tevogen Founder Reflects on Importance of Preserving Shareholder Value While Navigating Growth as it Prepares to File Quarterly Financials

Tevogen Bio Reports Third Quarter 2024 Financial Results; Highlights Significantly Improved Financial Position, Unreported Asset Value on Balance Sheets, Efficient Business Model

Management

Tevogen Bio CEO Reflects on Public Support, Reaffirms Preserving Shareholder Value Remains His Priority, and Reinforces Options Including a Potential Share Buyback to Support Company Value

Health Care

Tevogen Bio Prepares Organizational Readiness to Support Company's Growth Strategy

Dr. Ryan Saadi Commends Individuals Who Dedicate Time to Public Service, and Congratulates Mayor Victor Sordillo on His Induction Into the NJ League of Municipalities Hall of Fame

Tevogen Bio to Attend the 43rd Annual J.P. Morgan Healthcare Conference

Tevogen Bio to Host Panel "Pioneering the Economics of Health: Balancing Access and Outcomes" During the 43rd Annual J.P. Morgan Healthcare Conference

Legal

Tevogen Bio Strengthens Robust IP Portfolio With Filing of Predictive AI Patent, With the Goal to Establish a Blueprint to Unlock the Full Potential of T Cell Therapies and Accelerate AI Integration to Advance Its Bold Growth Agenda

Tevogen Bio to Host Panel "AI In Biopharma: Next Frontier of Medical Innovation" During the 43rd Annual J.P. Morgan Healthcare Conference

Tevogen Bio to Host Panel Discussions "AI In Biopharma: Next Frontier of Medical Innovation" and "Pioneering the Economics of Health: Balancing Access and Outcomes" During J.P. Morgan Healthcare Conference

Acrivon Therapeutics, Inc. - Common Stock

Acrivon Therapeutics

Alector

Amarin Corporation plc - American Depositary Shares, each representing one Ordinary Share

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