Option chain shows key data for Williams Rowland Acquisition Corp arrants (11/12/2026)'s stock options at various strike prices and expiration dates. Traders use this information to analyze potential trades and assess market sentiment for Williams Rowland Acquisition Corp arrants (11/12/2026).

Williams Rowland Acquisition Corp arrants (11/12/2026) (OTC:WRACW) Stock, Option Chain

Williams Rowland Acquisition Corp arrants (11/12/2026)

Asset management firm&nbsp;Ark Invest recently expressed a bullish view on the future of real-world asset (RWA) tokenization and its potential impact on the broader digital assets industry.
What Happened: In the weekly newsletter shared Monday, the Cathie Wood-led firm Ark Invest spoke about Tether&#8217;s (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">USDT</a>) latest move into the RWA tokenization space. 
Tether, the largest stablecoin issuer, launched Hadron, a platform that enables users to tokenize virtually anything, from commodities and corporate equity to government debt and corporate bonds.
Ark Invest believed that the launch of Hadron signaled a growing appetite for tokenization, which was still a very nascent industry. The total value of tokenized RWAs was only $11 billion, a minuscule percentage of the ~$500 trillion total addressable market.
&#8220;In our view, Tether is extremely well positioned to be a leader in this space, as RWAs represent a natural extension of its core business—tying digital assets to fiat currencies,&#8221; the firm noted.
See Also: <a href="https://www.benzinga.com/general/social-media/24/11/42048594/trump-digs-deeper-into-cryptocurrency-bakkt-shares-soar-on-reported-interest-from-president-elects-media-company">Trump Digs Deeper Into Cryptocurrency? Bakkt Shares Soar On Reported Interest From President-Elect&#8217;s Media Company</a>
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://t.co/ZZKfY4RPMk">https://t.co/ZZKfY4RPMk</a>
&mdash; ARK Invest (@ARKInvest) <a href="https://twitter.com/ARKInvest/status/1858571067066925241?ref_src=twsrc%5Etfw">November 18, 2024</a></blockquote>
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RWAs are physical or off-chain assets, such as real estate, commodities, art, and financial instruments like bonds or equities, that can be represented digitally, or tokenized, on public blockchains.
Tokenization allows users to trade digital representations of assets, making them more liquid and, because of blockchain technology, more transparent.
Why It Matters: For the curious, RWAs are physical or off-chain assets, such as real estate, commodities, art, and financial instruments like bonds or equities, that can be represented digitally, or tokenized, on public blockchains.
Tokenization allows users to trade digital representations of assets, making them more liquid and, because of the immutable-nature of blockchain technology, more transparent.
The world's largest asset manager, BlackRock entered the sector with the introduction of its tokenized U.S. Treasury product, BUIDL, built atop Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>), earlier this year. As of this writing, it boasted of a market capitalization of $541.79 million, <a href="https://app.rwa.xyz/assets/BUIDL">according </a>to RWA market tracker Rwa.xyz.
According to Prophecy Market Insights, the real estate tokenization market was valued at&nbsp;$3.8 billion&nbsp;in 2024 and is&nbsp;<a href="https://www.prophecymarketinsights.com/market_insight/Global-Real-Estate-Tokenization-Market-4857" target="_blank" rel="noreferrer noopener">expected&nbsp;</a>to reach $26 billion by 2034 with a compound annual growth rate (CAGR) of 2.90%.
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42049664/paul-tudor-jones-boosts-bitcoin-holdings-potentially-making-btc-his-largest-non-options-investment">Paul Tudor Jones Boosts Bitcoin Holdings, Potentially Making BTC His Largest Non-Options Investment</a></li>
</ul>
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>

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

Cryptocurrency

News

Markets

$ETH

$USDT

Cathie Wood's Ark Bullish On $500T Tokenization Market As Tether Enters Race

In a recent episode of the &#8220;All-In Podcast,&#8221; <a href="https://www.benzinga.com/24/11/42025179/chamath-palihapitiya-regrets-this-3-or-4-billion-crypto-mistake-as-bitcoin-rises-above-90000-would-have-made-a-lot-more-money">Chamath Palihapitiya expressed </a>skepticism about a potential boom in mergers and acquisitions (M&amp;A) for the year 2025. He suggests that the market will remain restrained, contrary to popular expectations.
What Happened: During the discussion, Palihapitiya highlighted, &#8220;I think it&#8217;s going to still be pretty subdued,&#8221; he said. &#8220;I don&#8217;t think that you&#8217;re going to see these crazy M&amp;A deals that I think everybody is expecting. I also don&#8217;t anticipate a lot of these big companies going public, at least in the first half of the year.&#8221;
He attributes this to the prevailing interest rates, which he argues are not conducive for companies that missed the opportunity to go public when rates were more favorable.
Palihapitiya further elaborated on the current economic conditions, noting that high interest rates make it challenging to execute substantial M&amp;A deals or IPOs. He emphasized that successful M&amp;A should be driven by industrial logic rather than regulatory uncertainties.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">saturday special&#8230; besties are back! (0:00) bestie intros! (7:57) election impact on <a href="https://twitter.com/hashtag/bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#bitcoin</a>, crypto, and fintech stocks (21:56) m&amp;a and ipos: what to expect in 2025 (39:52) pharma ads on cable tv: should it be allowed? is big pharma buying influence? (58:17) fbi raids… <a href="https://t.co/HBDXSVo7LD">pic.twitter.com/HBDXSVo7LD</a>
&mdash; The All-In Podcast (@theallinpod) <a href="https://twitter.com/theallinpod/status/1857835928343195777?ref_src=twsrc%5Etfw">November 16, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42014985/matt-gaetz-to-be-confirmed-as-attorney-general-in-a-trump-administration-not-so-fast-polymarket-traders-say?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Matt Gaetz To Be Confirmed As Attorney General In A Trump Administration? Not So Fast, Polymarket Traders&nbsp;Say</a>
Additionally, Palihapitiya pointed out the appeal of risk-free returns, with figures like Warren Buffett investing heavily in T-bills, making large IPOs less attractive compared to the uncertain stock market.
Why It Matters: The anticipation of a surge in M&amp;A activity has been a topic of discussion, especially with the potential policy shifts under the upcoming Trump administration. According to <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41979935/golden-years-for-ma-deals-ahead-under-trump-analysts-highlight-top-10-large-cap-candidates">analysts</a>, the Republican control of Congress could lead to a more favorable environment for deal-making. This includes the possibility of removing Federal Trade Commission Chair Lina Khan, known for her aggressive antitrust stance, which has been a significant barrier to M&amp;A activity.
Furthermore, Jim Cramer expressed optimism <a href="https://www.benzinga.com/m-a/24/11/41805370/jim-cramer-hopes-m-a-to-come-back-bigly-under-trump-administration">about a resurgence in M&amp;A</a> under the Trump administration, predicting a more lenient approach to M&amp;A approvals. He highlighted the potential benefits for the regional banking sector, which could see growth through acquisitions or mergers to form larger entities.
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<li><a href="https://www.benzinga.com/24/11/42022585/michael-van-de-poppe-says-bitcoin-ethereum-and-altcoins-close-to-the-point-where-investors-can-buy-the-dip?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Michael Van De Poppe Says Bitcoin, Ethereum And Altcoins Close To The Point Where Investors Can &#8216;Buy The&nbsp;Dip&#8217;</a></li>
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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

General

Chamath Palihapitiya Says Don't Expect 'Crazy M&A Deals' In 2025

AECOM (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACM#NYSE">ACM</a>) will release earnings results for its fourth quarter, after the <a href="https://www.benzinga.com/quote/ACM/earnings">closing bell on Monday, Nov. 18</a>.
Analysts expect the Dallas, Texas-based company to report quarterly earnings at $1.25 per share, up from $1.01 per share in the year-ago period. The company projects to report quarterly revenue of $4.12 billion, compared to $3.84 billion a year earlier, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
On Oct, 31, Aecom was selected for a $90 million single-award task order for the G7 Partnership for Global Infrastructure and Investment.
Aecom shares fell 0.3% to close at $106.93 on Friday.
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/ACM/analyst-ratings">analysts have rated the company</a> in the recent period.
<ul>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/643e5abb9eebb2000134dbb9/sangita-jain">Keybanc analyst Sangita Jain</a> maintained an Overweight rating and raised the price target from $115 to $122 on Nov. 7. This analyst has an accuracy rate of 81%.</li>
<li>Citigroup analyst Andrew Kaplowitz maintained a Buy rating and increased the price target from $110 to $128 on Oct. 22. This analyst has an accuracy rate of 87%.</li>
<li><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/58ac4af1b85e930001e6383a/jamie-cook">Truist Securities analyst Jamie Cook </a>maintained a Buy rating and raised the price target from $108 to $119 on Oct. 4. This analyst has an accuracy rate of 68%.</li>
<li>Baird analyst Andrew Wittmann maintained an Outperform rating and boosted the price target from $96 to $100 on Aug. 7. This analyst has an accuracy rate of 78%.</li>
<li>RBC Capital analyst Arthur Nagorny maintained an Outperform rating and increased the price target from $112 to $113 on Aug. 7. This analyst has an accuracy rate of 67%.</li>
</ul>
Considering buying ACM stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="445" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/18023108/image-174-1024x445.png" alt="" class="wp-image-652292" style="width:613px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/18023108/image-174-1024x445.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/18023108/image-174-300x130.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/18023108/image-174-768x333.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/18023108/image-174-1536x667.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/18023108/image-174.png 1617w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
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Earnings

Price Target

Analyst Ratings

Trading Ideas

Aecom Gears Up For Q4 Print; Here Are The Recent Forecast Changes From Wall Street's Most Accurate Analysts

Mullen Automotive, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MULN#NASDAQ">MULN</a>) shares are trading higher on Monday after the company disclosed that Bollinger Motors 2025 Bollinger B4 truck has qualified for California&#8217;s Hybrid and Zero-Emission Truck and <a target="_blank" href="https://www.benzinga.com/pressreleases/24/11/n42037620/california-issues-hvip-approval-granting-bollinger-motors-class-4-ev-truck-a-60-000-cash-voucher-p" rel="noreferrer noopener">Bus Voucher Incentive Project (HVIP)</a>.
Under HVIP, the 2025 Bollinger B4 EV truck, with a suggested MSRP of&nbsp;$158,758, now qualifies for up to a&nbsp;$60,000&nbsp;cash voucher. When added to the available&nbsp;$40,000&nbsp;federal tax credit, the net effective cost of the B4 could be less than&nbsp;$59,000.
The Bollinger B4 Chassis Cab, an all-electric Class 4 commercial truck, offers a 185-mile range, 7,394 lbs payload, and a Quad-Bend chassis design, making it an ideal choice for commercial fleets seeking a high-performance, safe, and capable vehicle.
Last week, the company partnered with&nbsp;National Auto Fleet Group (NAFG) to sell its all-electric Class 4 Bollinger B4 commercial&nbsp;<a target="_blank" href="https://www.benzinga.com/24/11/42012924/mullen-drives-into-government-sector-with-electric-bollinger-b4-trucks" rel="noreferrer noopener">trucks to government agencies</a>.
Last month, Bollinger Motors completed its first West Coast delivery of 2025&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/10/41630662/mullens-bollinger-motors-marks-milestone-with-500-thousand-west-coast-ev-truck-delivery" rel="noreferrer noopener">Bollinger B4 trucks worth ~$500K</a>.
Also, Bollinger Motors completed its first customer delivery of the 2025&nbsp;Bollinger B4 Chassis Cab, generating $800,000 in revenue for the&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/10/41166786/whats-going-on-with-mullen-automotive-stock-thursday" rel="noreferrer noopener">original equipment manufacturer</a>.
Price Action: MULN shares are up 6.81% at $2.713 at the last check Monday.
Image via Unsplash
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Equities

Small Cap

MULN

What's Going On With Mullen Automotive Stock Monday?

Netflix Inc. (NFLX) stock rallied Monday following the streaming giant&#8217;s record-breaking boxing event featuring Mike Tyson and Jake Paul, despite technical difficulties that plagued some viewers during the live broadcast.
What Happened: Gary Black, Managing Partner of The Future Fund LLC, wrote on X, &#8220;One could have made a lot of money scooping up Netflix this morning below $815,&#8221; noting that the stock finished at $848. He emphasized that the technical glitches were &#8220;easy fixes&#8221; and suggested the impressive viewership of 60 million could signal stronger subscriber growth in the fourth quarter.
The streaming platform&#8217;s capacity to manage high-traffic live events is being closely evaluated as Netflix gears up for its next major live programming challenge: two exclusive NFL games on Christmas Day.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">One could have made a lot of money scooping up <a href="https://twitter.com/search?q=%24NFLX&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$NFLX</a> this morning below $815 (finished at $848) by recognizing the glitches in the Tyson-Paul match were easy fixes, and that 60 million viewers likely means a lot more subs at the end of 4Q. <a href="https://t.co/URnhEPAKnq">pic.twitter.com/URnhEPAKnq</a>
&mdash; Gary Black (@garyblack00) <a href="https://twitter.com/garyblack00/status/1858626815184490903?ref_src=twsrc%5Etfw">November 18, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42052797/trump-and-coinbase-ceo-brian-armstrong-reportedly-in-talks-over-cabinet-appointments">Trump And Coinbase CEO Brian Armstrong Reportedly In Talks Over Cabinet Appointments</a>
Why It Matters: Friday&#8217;s boxing event, which saw Paul defeat Tyson in a unanimous decision, drew an <a href="https://www.benzinga.com/general/sports/24/11/42042640/netflix-crash-hits-jake-paul-mike-tyson-fight-can-streaming-platform-handle-christmas-day-nfl-action">unprecedented 60 million households globally</a>. 
While some viewers experienced disruptions during the broadcast, with DownDetector reporting over one million global complaints, the technical issues appeared to primarily affect the<a href="https://www.benzinga.com/general/sports/24/11/42042640/netflix-crash-hits-jake-paul-mike-tyson-fight-can-streaming-platform-handle-christmas-day-nfl-action"> preliminary card rather than the main event</a>. The streaming service has approximately one month to address these technical challenges before its Christmas Day NFL debut.
Netflix&#8217;s expansion into live sports continues with the announcement that Beyoncé will perform during halftime of the Baltimore Ravens-Houston Texans game, scheduled for 4:30 p.m. ET on Dec 25. The performance will mark the first live <a href="https://www.benzinga.com/24/11/42038673/netflix-scores-big-beyonce-set-to-headline-nfl-christmas-halftime-show">rendition of songs</a> from her &#8220;Cowboy Carter&#8221; album.
The streaming service, which recently reported <a href="https://www.benzinga.com/media/24/11/41915397/netflix-reaches-70-million-users-on-ad-supported-plan-boosts-live-sports-ads">reaching 282.72 million global paid subscribers</a>, has already sold out advertising inventory for both Christmas Day NFL games, securing partnerships with major brands including FanDuel and Verizon Communications Inc.
Price Action: Netflix closed at $847.05 on Monday, gaining 2.80% for the day. In after-hours trading, the stock edged up further by 0.089%. Year to date, Netflix has surged 80.80%, according to&nbsp;<a href="https://pro.benzinga.com/dashboard" target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>.
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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.

Entertainment

Sports

Global

Netflix Stock Soars Amid Tyson-Paul Boxing Stream Stutters; Analyst Gary Black Says Viewership Signals Q4 Subscriber Growth

At 33, Tiffany Grant decided to leave North Carolina and start over in Negril, Jamaica. "I feel like I have a better chance of longevity here," she shared in CNBC Make It. What's unfolded since her move is a story of healing, happiness and a completely different way of living.
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Before relocating, Grant was dealing with the all-too-common struggles of life in the U.S. According to the CDC, nearly half of American adults have high blood pressure, often fueled by processed foods, sedentary habits and chronic stress. Grant was no exception​.
Jamaica, emphasizing fresh, Whole Foods and active living, has changed all that for her. She now eats local fruits, vegetables and freshly caught fish, steering clear of the ultra-processed foods that comprise about 60% of the average American's diet​. "The food here is fantastic, especially the produce," she said, noting how affordable it is, too.
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Walking has also become second nature. Most of her trips in North Carolina were by car, but in Jamaica, walking is a way of life. Whether it's hiking up Negril's hills or strolling to the market, Grant stays active in ways that feel effortless.&nbsp;
"I walk much more now since I got here and I'll stroll to the store most days," she said. Experts back this up – just 20-30 minutes of walking daily can reduce the risk of heart disease by up to 30%, according to Harvard Health​.
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The financial difference has been a game-changer too. In the U.S., her monthly expenses hit around $3,000. In Negril, she's living comfortably for closer to $1,900. Rent, in particular, is significantly cheaper.&nbsp;
While the average one-bedroom in the U.S. costs $1,713 as cited by Unbiased, similar accommodations in Jamaica go for about $648 in the city center and $340 outside the city center, according to Numbeo.
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But what stands out for her is the sense of community. Despite living there for years, she barely knew her neighbors in North Carolina. In Jamaica, she's surrounded by warmth and connection.&nbsp;
Neighbors come together for domino games or outdoor cooking and there's always someone to share a laugh with. "It's completely different here," she said. Studies show that strong social connections can increase life expectancy by up to 50% and Grant feels this shift deeply​.
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<li>Many are using this retirement income calculator to check if they&#8217;re on pace —<a href="https://www.benzinga.com/money/how-do-i-calculate-my-retirement-income-adv"> here&#8217;s a breakdown on how on what&#8217;s behind this formula.</a></li>
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Personal Finance

This 33-Year-Old Left The U.S. For A Life Minutes From The Ocean In Jamaica: 'I Feel Like I Have A Better Chance Of Longevity Here'

A Washington State University economics professor has cast doubt on the <a href="https://www.benzinga.com/news/global/24/11/41927289/trump-appoints-elon-musk-and-vivek-ramaswamy-to-lead-doge-targeting-bureaucracy-and-65-trillion-federal-spending-we-will-not-go-gently">effectiveness of the newly proposed</a> Department of Government Efficiency named after cryptocurrency Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) in addressing the federal deficit, highlighting data showing most government spending goes to entitlement programs rather than bureaucratic salaries.
What Happened: Christopher Clarke, assistant professor at WSU&#8217;s School of Economic Sciences, pointed to long-term federal employment trends showing the proportion of federal workers in the labor force has actually decreased from 4.3% in 1968 to 1.9% today, despite population growth.
&#8220;The number of federal government employees has remained roughly the same for over 60 years,&#8221; Clarke stated in a detailed analysis <a href="https://x.com/EconChrisClarke/status/1858636305644875887">posted</a> on X. He emphasized that non-discretionary spending, including Social Security ($1.3 trillion), Medicare ($800 billion), and other safety net programs, comprises the bulk of government expenditures.
The analysis comes in response to President-elect Donald Trump&#8216;s announcement of DOGE, to be led by Tesla CEO Elon Musk and former presidential candidate Vivek Ramaswamy. The department aims to restructure federal agencies and reduce government spending by Jul 4, 2026.
See Also: <a href="https://www.benzinga.com/news/global/24/11/42052735/boeing-to-lay-off-over-2500-workers-in-the-us-amid-global-workforce-reduction">Boeing To Lay Off Over 2,500 Workers In The US Amid Global Workforce Reduction</a>
Why It Matters: Clarke referenced existing efficiency efforts through the Government Accountability Office (GAO), noting that since 2011, they have identified $660 billion worth of improvements, averaging $47 billion annually – approximately 3% of the current $1.7 trillion deficit.
&#8220;While I&#8217;m hopeful for improvements, most government spending goes to entitlements, not the salaries of bureaucrats,&#8221; Clarke concluded. He suggests only two viable solutions exist: &#8220;return taxes to 90&#8217;s level or cut spending on the elderly and poor.&#8221;
Sen. Ted Cruz (R-Texas) has expressed <a href="https://www.benzinga.com/24/11/41961161/musk-ramaswamy-headed-doge-department-will-be-an-incredibly-challenging-endeavor-says-ted-cruzshares-this-piece-of-advice">cautious optimism about the initiative</a> but warned about the challenges of applying private sector efficiency methods to government operations.
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Image via Flickr/ Wikimedia Commons
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Government

$DOGE

Economics Professor Doubts Impact Of Dogecoin-Inspired, Elon Musk-Led Department On Federal Deficit, Cites This As Major Concern

OpenAI CEO Sam Altman has been appointed as a co-chair of the transition team&nbsp;for San Francisco&#8217;s newly elected&nbsp;mayor, Daniel Lurie.
What Happened: Altman, a significant contributor to Democratic campaigns, will advise Lurie on key issues such as drug use and homelessness in the city.
The other co-chairs of the team include local government and nonprofit alumni,&nbsp;Ned Segal,&nbsp;Lurie&#8217;s campaign co-chair, and Twitter&#8217;s&nbsp;former CFO, <a href="https://www.businessinsider.com/sam-altman-tapped-san-francisco-mayor-daniel-lurie-transition-team-2024-11">reported</a> Business Insider.
Altman expressed his excitement to assist the city where OpenAI was founded, as it embarks on a new chapter with Mayor-elect Lurie.
&#8220;I&#8217;m excited to help the city I love, and where OpenAI was started, as it begins its next chapter with Mayor-elect Lurie stepping into his new role,&#8221; the OpenAI CEO stated.
See Also:&nbsp;<a href="https://www.benzinga.com/24/11/41872302/taylor-swift-fans-abandon-elon-musks-x-for-bluesky-how-trumps-election-victory-triggered-swifties-uprising?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Taylor Swift Fans Abandon Elon Musk&#8217;s X For Bluesky, Says Report: How Trump&#8217;s Election Victory Triggered Swifties Uprising</a>
San Francisco&#8217;s campaign finance database shows that Altman contributed $500 to current Mayor London Breed&#8217;s campaign in 2018, the report noted.
Lurie, who positioned himself as a moderate Democrat and a &#8220;political outsider,&#8221; won the election against incumbent mayor London Breed.
He received substantial support from&nbsp;the Silicon Valley tech community,&nbsp;including six-figure donations from WhatsApp&nbsp;cofounder Jan Koum and investors&nbsp;Jonathan Gans and Oleg Nodelman.
Lurie said, &#8220;I look forward to leaning on them in the days to come,&#8221; to tackle key challenges, including public safety, the behavioral health crisis, housing, and streamlining bureaucracy to make City Hall work for everyone.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Why It Matters: Altman is not the only tech leader who has approached politics this year with a more hands-on approach.
Earlier this month, Tesla and SpaceX CEO Elon Musk was appointed to lead President-elect Donald Trump&#8217;s Department of Government Efficiency (<a href="https://www.benzinga.com/topic/department-of-government-efficiency">DOGE</a>), alongside pharma entrepreneur Vivek Ramaswamy.
The department will assist the administration with budget reductions and restructuring efforts.
Last month, Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) backed OpenAI&#8217;s valuation soared to <a href="https://www.benzinga.com/news/24/10/41149788/openai-valuation-soars-to-157b-in-latest-funding-round">$157 billion following a funding</a> round. Microsoft has invested almost $14 billion in OpenAI since 2019.
Prior to that, it was reported that OpenAI, which started as a nonprofit in 2015, could transition to a for-profit model.
The new structure could grant Altman 7% equity in the company, <a href="https://www.benzinga.com/news/24/09/41043358/sam-altman-poised-for-10-5b-payday-as-openai-transitions-to-for-profit-model-with-150b-valuation-on">potentially worth $10.5 billion</a> if the company&#8217;s valuation goes as high as $150 billion.
Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:
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<li><a href="https://www.benzinga.com/general/social-media/24/11/42022443/ibm-disney-and-other-large-advertisers-return-to-elon-musks-x-after-a-year-long-boycott-we-super-appreciate?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">IBM, Disney And Other Large Advertisers Return To Elon Musk&#8217;s X After A Year-Long Boycott: &#8216;We Super Appreciate&#8217;</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Politics

Tech

Media

MSFT

Sam Altman Co-Chairs San Francisco Mayor's Transition Team As Daniel Lurie Prepares To Tackles Key City Challenges

Hedera (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/hbar/usd">HBAR</a>) soared to the top of the daily gainers list Monday as blue-chip cryptocurrencies traded flat.
What happened: HBAR, the native coin of the Hedera Hashgraph network, rallied 35% in the last 24 hours to hit a seven-month high.
The cryptocurrency's trading volume more than tripled in the last 24 hours to $3.50 billion, suggesting heightened buying pressure. 
The upsurge dwarfed gains made by Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>), as both market heavyweights were up just 1.02% and 1.39%, respectively. 
With gains of over 160%, HBAR was the third-best-performing token over the last week.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41873427/shiba-inu-lead-developer-shytoshi-kusama-pitches-s-h-i-b-in-response-to-elon-musks-call-for-new-roles-recommendations-in-trump-administration">Shiba Inu Lead Developer Shytoshi Kusama Pitches S.H.I.B In Response To Elon Musk&#8217;s Call For New Roles Recommendations In Trump Administration</a>
The rally came as odds of Brian Brooks, an HBAR Foundation board member, being named President-elect Donald Trump&#8217;s pick for SEC Chair <a href="https://kalshi.com/markets/kxsecchair/next-sec-chair">increased </a>dramatically on prediction platform Kalshi.&nbsp;
Brooks' odds leapfrogged from 8.6% 24 hours ago to 43% as of this writing.&nbsp;
Another likely bullish catalyst was cryptocurrency asset trading and management firm Canary Capital <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42011875/solana-ripple-litecoin-etfs-may-be-on-the-table-under-trump-administration-industry-experts-think">filing </a>for an HBAR exchange-traded fund (ETF), potentially driving mainstream adoption of the coin.
For the uninitiated, Hedera is a public blockchain network, allowing for the development of decentralized applications on top of it. HBAR lies at the center of the network, helping secure it through staking. 
The coin has a market capitalization of $5.70 billion, with a circulating supply of 37.69 billion.
Price Action: At the time of writing, HBAR was trading at $0.1497, up 35% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>.
Image via Pixabay
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42052184/will-shiba-inu-coin-reach-1-cent-by-2025-47-of-benzinga-readers-say">Will Shiba Inu Coin Reach 1 Cent By 2025? 47% Of Benzinga Readers Say…</a></li>
</ul>

Movers

$BTC

$HBAR

Trump SEC Pick Speculation Sends This Altcoin Soaring Past Bitcoin And Ethereum In Daily Gains

Verily, the life sciences subsidiary of 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>), has set a deadline to sever its ties with Google by December. This move is seen as a crucial step towards Verily&#8217;s goal of becoming an independent company.
What Happened: Verily has set a deadline of Dec 16 to cut ties with Google, as per internal documents, <a href="https://www.businessinsider.in/tech/news/verily-has-a-december-deadline-to-cut-important-ties-with-google-leaked-documents-show/articleshow/115431375.cms">reported</a> Business Insider citing sources familiar with the matter. This includes severing connections to Google&#8217;s cloud infrastructure and employee benefits.
Despite the separation, Verily will remain a part of Alphabet. However, the company&#8217;s leadership has emphasized the necessity of these efforts for Verily to eventually operate as an entirely independent entity.
Verily&#8217;s transition from Google&#8217;s infrastructure is being driven by its secret Flywheel project, which was first reported by Business Insider in 2021. This project is considered a crucial stepping stone towards Verily&#8217;s independence.
Employees have already been issued new laptops, office badges, and email addresses that are no longer aliases of the Google email domain. They will also lose access to Google&#8217;s employee benefits by the end of December, receiving new benefits fully dictated by Verily.
See Also: <a href="https://www.benzinga.com/markets/equities/24/11/42028797/tesla-soars-over-5-in-overnight-trading-as-trump-administration-reportedly-seeks-to-ease-fsd-norms?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Tesla Soars Over 5% In Overnight Trading As Trump Administration Reportedly Seeks To Ease FSD Norms</a>
Why It Matters: The move to separate Verily from Google comes at a time when the tech giant is facing increased regulatory scrutiny. The U.S. Department of Justice is reportedly <a href="https://www.benzinga.com/news/legal/24/11/42053249/google-could-lose-chrome-browser-in-dojs-latest-antitrust-move">preparing to request a court order</a> that would force Google to divest its Chrome browser, following a ruling in August that found Google guilty of illegally monopolizing the search market.
Despite these challenges, Alphabet has been making significant strides in its AI technology. The company recently announced that its <a href="https://www.benzinga.com/news/large-cap/24/11/42042074/googles-gemini-app-brings-free-flowing-ai-to-apple-iphone">AI assistant, Gemini</a>, is now available for download on Apple Inc.&#8216;s iPhone as an app, offering a &#8220;free-flowing conversation&#8221; feature.
Alphabet is also <a href="https://www.benzinga.com/tech/24/11/42030837/salesforce-ceo-marc-benioff-lauds-googles-truly-groundbreaking-gemini-ai-after-taking-jabs-at-microsofts-copilot">receiving praise for its AI technology</a> from industry leaders. Salesforce CEO Marc Benioff recently lauded Google&#8217;s AI tool, Gemini Live, as &#8220;truly groundbreaking.&#8221;
Price Action: Alphabet Inc. Class A shares closed at $175.30 on Monday, gaining 1.63% for the day. In after-hours trading, the stock declined 1.00%. Year to date, Class A shares have risen by 26.87%. Meanwhile, Alphabet Inc. Class C shares ended the day at $176.80, up 1.67%. After hours, the stock dipped 0.83%. Year to date, Class C shares have increased by 26.68%, according to <a href="https://pro.benzinga.com/dashboard" target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>.
Read Next: 
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<li><a href="https://www.benzinga.com/24/11/42025223/legendary-investor-rob-arnott-says-stock-market-looks-and-feels-like-the-year-2000-as-wall-street-rallies-after-trumps-win-likely-to-see-a-bear-market?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Legendary Investor Rob Arnott Says Stock Market &#8216;Looks And Feels Like The Year 2000&#8217; As Wall Street Rallies After Trump&#8217;s Win: &#8216;&#8230;Likely To See A Bear Market&#8217;</a></li>
</ul>
Image Via Shutterstock 
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

GOOG

GOOGL

Alphabet's Life Sciences Firm Verily To Become A Standalone Entity, Disconnect From Google

Renowned economist Peter Schiff took a cheeky dig at the swift pace at which MicroStrategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) was executing its Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) purchase plan.
What Happened: On Monday, Schiff took to X to comment on the Michael Saylor-led company&#8217;s aggressive Bitcoin buying strategy. 
He noted that the company has already spent $6.63 billion of its ambitious <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41646462/michael-saylor-says-bitcoin-remedy-to-fix-unhealthy-balance-sheets-as-microstrategy-unveil">$42 billion three-year plan</a> announced less than three weeks ago.
&#8220;At this rate, the entire plan will be completed in under four months. Then Saylor is gonna need a bigger plan,&#8221; the Bitcoin critic made a tongue-in-cheek remark.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">It&#39;s been less than three weeks since <a href="https://twitter.com/saylor?ref_src=twsrc%5Etfw">@Saylor</a> announced a three-year plan for <a href="https://twitter.com/search?q=%24MSTR&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$MSTR</a> to spent $42 billion buying <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a>. So far, $6.63 billion has already been spent. At this rate the entire plan will be completed in under four months. Then Saylor is gonna need a bigger plan.
&mdash; Peter Schiff (@PeterSchiff) <a href="https://twitter.com/PeterSchiff/status/1858602445783658920?ref_src=twsrc%5Etfw">November 18, 2024</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/markets/cryptocurrency/24/11/42052797/trump-and-coinbase-ceo-brian-armstrong-reportedly-in-talks-over-cabinet-appointments">Trump And Coinbase CEO Brian Armstrong Reportedly In Talks Over Cabinet Appointments</a>
Why It Matters: Schiff&#8217;s comments come in the wake of <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42042019/bitcoin-buyer-spree-microstrategy-acquires-4-6b-in-btc-metaplanet-issues-11-4m-in-bonds-to-fund-purchases">MicroStrategy&#8217;s recent acquisition</a> of 51,780 Bitcoin for approximately $4.6 billion. With the latest grab, MicroStrategy holdings shot up to 331,200 BTC, acquired at a total purchase price of approximately $16.5 billion, and worth over $30 billion at current market prices. 
MicroStrategy views Bitcoin as a <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41902155/bitcoin-to-augment-gold-as-the-next-strategic-reserve-asset-says-expert" target="_blank" rel="noreferrer noopener">strategic reserve asset</a>, offering exposure to digital assets as an alternative to traditional capital. The company announced that it would raise $42 billion over the next three years through equity and debt financing to buy more Bitcoin.
Meanwhile, Schiff has continued to take potshots at anything and everything connected to Bitcoin.
Last month, he <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41478505/peter-schiff-predicts-a-bloodbath-for-microstrategy-stock-calls-it-the-most-overvalued-on-">predicted a &#8216;bloodbath&#8217;</a> for MicroStrategy&#8217;s stock, terming it the most overvalued on the MSCI World Index. He also <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41616100/peter-schiff-asks-followers-if-microstrategy-can-tower-this-gold-mining-giant-in-marketcap">questioned the soaring market capitalization</a> of MicroStrategy compared to gold mining companies.
Price Action: At the time of writing, Bitcoin was exchanging hands at $91,274.52, up 0.91% 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>. 
Shares of MicroStrategy soared 13% to close at 384.79 on Monday. The stock was up a whopping 455% year-to-date.
Read Next: 
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<li><a href="https://www.benzinga.com/general/social-media/24/11/42048594/trump-digs-deeper-into-cryptocurrency-bakkt-shares-soar-on-reported-interest-from-president-elects-media-company">Trump Digs Deeper Into Cryptocurrency? Bakkt Shares Soar On Reported Interest From President-Elect&#8217;s Media Company</a></li>
</ul>
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>

MSTR

Peter Schiff Pokes Fun Of MicroStrategy's Bitcoin Purchase: 'Michael Saylor Is Gonna Need A Bigger Plan'

Leading cryptocurrencies inched higher Monday, coinciding with a surge in tech stocks.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 8:30 p.m. ET)</td>
</tr>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>+0.60%</td>
<td>$91,007.28</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>+1.49%</td>
<td>$3,158.99</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>+2.23%</td>
<td>$0.3725</td>
</tr>
</tbody>
</table>
</figure>
What Happened: Bitcoin exhibited choppy movement, oscillating between $92,000 and $89,000. The leading cryptocurrency has lost momentum since smashing past $93,000 last week.&nbsp;
Ethereum moved slightly northward, reaching an intraday high of $3,225 before rapidly retreating to $3,150.
In the past 24 hours, 114,745 traders were liquidated, with the total liquidations at $329.61 million. Over $200 million in upside bets was wiped out.&nbsp;
The Open Interest (OI) in Bitcoin futures rose 2% in the last 24 hours, suggesting sustained speculative interest.
The number of traders holding Bitcoin long positions climbed considerably over the previous 24 hours, signaling expectations that the rally will resume.
The "Extreme Greed" sentiment increased to 90, as per the Cryptocurrency Fear and Greed Index.
Top Gainers (24-Hours)
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 8:30 p.m. ET)</td>
</tr>
<tr>
<td>Hedera (HBR)</td>
<td>+40.64%</td>
<td>$0.1395</td>
</tr>
<tr>
<td>Tezos (XTZ)</td>
<td>+40.27%</td>
<td>$1.13</td>
</tr>
<tr>
<td>Akash Network (AKT)</td>
<td>+38.64%</td>
<td>$4.55</td>
</tr>
</tbody>
</table>
</figure>
The global cryptocurrency market capitalization stood at $3.08 trillion, rising 1.84% in the last 24 hours.
The Nasdaq Composite, the barometer of tech stocks, popped 111.68 points, or 0.60%, to end at 18,791.81. The S&amp;P 500 gained 0.39% to close at 5,893.62, while the Dow Jones Industrial Average closed 0.13% lower at 43,389.60.
The tech rally was driven by a 5.62% jump in shares of EV juggernaut Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) on reports suggesting that the upcoming regulatory framework under Trump <a href="https://www.benzinga.com/markets/equities/24/11/42028797/tesla-soars-over-5-in-overnight-trading-as-trump-administration-reportedly-seeks-to-ease-fsd-norms">might ease mandates</a> for self-driving vehicles.
Additionally, investors were geared up for AI behemoth Nvidia Corp.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/42048963/why-nvidia-earnings-may-trigger-massive-sp-500-volatility">earnings report</a> on Wednesday.
See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>
Analyst Notes: Popular cryptocurrency analyst Ali Martinez used historical trajectories to project Bitcoin's next moves before a significant correction.&nbsp;
"During the 2017 bull market, Bitcoin surged 156% past its previous all-time high before the first major correction of -39%. In 2020, BTC rose 121% before a -32% correction," Martinez stated.&nbsp;
Should history repeat, Bitcoin could reach $138,000 before its "first major pullback," the analyst added.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">During the 2017 bull market, <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> surged 156% past its previous all-time high before the first major correction of -39%. In 2020, <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> rose 121% before a -32% correction. If history repeats, <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> could reach at least $138,000 before experiencing the first major pullback. <a href="https://t.co/eM3kLt6DA9">pic.twitter.com/eM3kLt6DA9</a>
&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1858654419602297074?ref_src=twsrc%5Etfw">November 18, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Popular on-chain analytics firm CryptoQuant said that Bitcoin has "room" for further growth based on the reading of the Short Term Holders SOPR indicator.
The SOPR, combined with the 30-day moving average (30d MA), revealed that short-term holders are taking moderate profits, with no signs of excessive euphoria.
"Currently, the indicator remains in the middle region, far from the Extreme Greed range, suggesting that the asset still has room to continue rising before reaching a possible market top," CryptoQuant noted.
<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">SOPR: <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> still has room to rise "Indicator remains in the middle region, far from the Extreme Greed range, suggesting that the asset still has room to continue rising before reaching a possible market top." – By <a href="https://twitter.com/gaah_im?ref_src=twsrc%5Etfw">@gaah_im</a> Link &#x1f447;<a href="https://t.co/XvSKZ9xXIY">https://t.co/XvSKZ9xXIY</a> <a href="https://t.co/WTIHMbp1Rm">pic.twitter.com/WTIHMbp1Rm</a>
&mdash; CryptoQuant.com (@cryptoquant_com) <a href="https://twitter.com/cryptoquant_com/status/1858582176499200007?ref_src=twsrc%5Etfw">November 18, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Read Next:&nbsp;&nbsp;&nbsp;&nbsp;
<ul>
<li><a href="https://www.benzinga.com/news/24/11/42027165/musks-doge-role-boosts-dogecoin-as-brian-armstrong-shows-support">Musk&#8217;s DOGE Role Boosts Dogecoin As Brian Armstrong Shows Support</a></li>
</ul>

NVDA

TSLA

Bitcoin, Ethereum, Dogecoin Rise Amid Tesla-Fueled Tech Stocks Rally: Popular Analyst Says BTC Could Reach $138K Before 'Major Pullback'

China&#8217;s leading tech firms,&nbsp;Alibaba&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>),&nbsp;ByteDance, and&nbsp;Meituan&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/MPNGY#OTC">MPNGY</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MPNGF#OTC">MPNGF</a>), are reportedly expanding their AI teams in Silicon Valley.
What Happened: These Chinese tech giants have been growing their California-based offices recently, to attract top U.S. talent to help them gain an edge in the lucrative AI sector, <a href="https://www.ft.com/content/da8c29b0-0a90-4d2a-8535-c8459ccc7bb4">reported</a> Financial Times.
Alibaba is hiring engineers, product managers, and AI researchers for its search engine AI, Accio, as part of its broader push in international commerce.
Meituan is building a team focused on features like AI-powered menu translations. ByteDance continues to develop its Doubao language model and integrate AI into TikTok.
See Also:&nbsp;<a href="https://www.benzinga.com/tech/24/11/42029736/elon-musk-says-ai-will-surpass-doctors-lawyers-after-chatgpt-tops-medical-diagnoses-humans-becoming-biological-backups?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Says AI Will Surpass Doctors, Lawyers After ChatGPT Tops Medical Diagnoses — Humans Becoming &#8216;Biological&#8217; Backups</a>
This expansion comes despite&nbsp;a <a href="https://www.benzinga.com/news/24/10/41323155/nvidia-amd-face-chip-export-curbs-as-biden-administration-considers-restrictions-on-middle-east-coun">U.S. ban on exports</a>&nbsp;of high-end Nvidia Corporation&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) AI chips, essential for AI model development, to Chinese companies.
There are&nbsp;no restrictions on U.S.-based entities&nbsp;related to or owned by&nbsp;Chinese tech companies accessing high-end&nbsp;AI chips through U.S. data centers.
However, the Department of Commerce&nbsp;proposed a rule in January requiring cloud providers&nbsp;to verify the identity of&nbsp;users training AI models and&nbsp;report their activities, the report noted.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Why It Matters: The expansion of these Chinese tech giants in Silicon Valley comes amid escalating U.S.-China tensions. Following the re-election of Donald Trump, there were concerns about a <a href="https://www.benzinga.com/government/24/11/41773691/us-listed-chinese-stocks-like-alibaba-jd-nio-fall-after-trumps-win-whats-going-on">potential comprehensive trade conflict</a> between the two nations.
Trump&#8217;s proposed 60% tariff on Chinese goods was predicted to <a href="https://www.benzinga.com/markets/24/11/42028954/peter-thiel-says-trumps-60-china-tariff-would-be-very-very-bad-for-beijing-heres-whats-at-stake">impact Chinese companies significantly</a>. Following Trump&#8217;s win, several U.S.-listed Chinese stocks, including Alibaba, JD, and Nio, declined.
However, Chinese President Xi Jinping has expressed <a href="https://www.benzinga.com/24/11/42025284/xi-jinping-tells-joe-biden-china-is-ready-to-work-with-trump-as-tariff-threat-looms">China&#8217;s willingness to collaborate</a> with the U.S. government, regardless of the administration in power.
&#8220;China is ready to work with the U.S. government to maintain dialogue, expand co-operation and manage differences . . . for the benefit of the two peoples,&#8221; Xi told President Joe Biden at the Asia-Pacific Economic Cooperation forum in Lima.
Image via Wikimedia Commons
Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:
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<li><a href="https://www.benzinga.com/news/retail-sales/24/11/42024288/consumer-tech-news-november-11-15-apple-plans-to-launch-an-ai-wall-tablet-meta-plans-to-introduce-ads-on-threads-more?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Consumer Tech News (November 11-15): Apple Plans To Launch An AI Wall Tablet, Meta Plans To Introduce Ads On Threads &amp; More</a></li>
</ul>
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

BABA

MPNGF

MPNGY

China's Tech Giants Alibaba, ByteDance, And Meituan Are Expanding Their Silicon Valley AI Footprints Amid US Efforts To Block Progress: Here's Why

In a recent announcement, former Rep. Sean Duffy (R-Wis.) has been nominated by President-elect Donald Trump to serve as the Secretary of Transportation.
What Happened: The nomination was declared on Monday by Trump, who commended Duffy&#8217;s career, emphasizing his term as a District Attorney for Ashland, Wisconsin, and his subsequent election to the U.S. House of Representatives for Wisconsin&#8217;s 7th Congressional District. &#8220;Sean has been a tremendous and well-liked public servant,&#8221; Trump stated.
During his tenure in Congress, Duffy was recognized for his advocacy for fiscal responsibility, economic growth, and rural development, said Trump.
Trump noted Duffy&#8217;s ability to collaborate across party lines, especially on a major road and bridge project in Minnesota. As a member of the House Financial Services Committee, Duffy was instrumental in shaping economic policies and promoting transparency and accountability in government programs.
Trump underscored that Duffy&#8217;s focus will be on excellence, competence, competitiveness, and aesthetics in the reconstruction of America&#8217;s infrastructure. Duffy&#8217;s mission, as described by Trump, will be to usher in &#8220;The Golden Age of Travel,&#8221; with a focus on safety, efficiency, and innovation.
See Also: <a href="https://www.benzinga.com/24/11/42025443/brazils-first-lady-swears-at-elon-musk-billionaire-predicts-fall-of-workers-party-in-upcoming-presidential-election?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Reacts After Brazilian President&#8217;s Wife Swears At Tesla CEO: &#8216;They Will Lose The Next Election&#8217;</a>
Why It Matters: This nomination comes at a crucial time when the incoming Trump administration is proposing significant policy changes that could impact the transportation sector. 
Earlier this month, Trump announced plans to <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/42046316/trump-set-to-hand-musk-golden-path-for-tesla-after-reversing-course-on-autonomous-vehicle-ban">ease restrictions</a> on self-driving vehicles, a move that could benefit companies like Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>). 
This followed Trump&#8217;s plans to eliminate <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41988194/trump-plans-to-erase-ev-tax-credit-analyst-says-its-net-bullish-calls-sell-off-wrong-knee-jerk-reaction">consumer tax credits for EVs</a>, a move that Tesla CEO Musk supported. 
However, veteran investor, Gary Black, warned that Tesla could <a href="https://www.benzinga.com/news/global/24/11/41998381/tesla-earnings-will-be-hit-hardest-if-7500-ev-credit-is-cut-warns-gary-black-citing-80-dependence-on-ev-sales-please-do-the-math">suffer the most</a> from losing the $7,500 EV tax credit due to its reliance on EV sales, with a potential 20% price hike in the U.S. impacting 30% of its global volume. He dismissed concerns for legacy automakers, noting their lower exposure to EVs.
Photo Courtesy: Gage Skidmore on Wikimedia.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>
</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>

Trump Picks Sean Duffy As Next Transportation Secretary, Says He Will Usher In 'The Golden Age of Travel'

Editor&#8217;s Note: This story has been updated to include a response from a Google spokesperson.
The U.S. Department of Justice is reportedly preparing to request a court order that would force Alphabet Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Google to divest its Chrome browser.
What Happened: The move comes after a ruling in August that found Google guilty of illegally monopolizing the search market.
The department is also expected to seek measures related to Google&#8217;s artificial intelligence and Android smartphone operating system, <a href="https://www.bloomberg.com/news/articles/2024-11-18/doj-will-push-google-to-sell-off-chrome-to-break-search-monopoly?srnd=phx-technology">reported</a> Bloomberg, citing people familiar with the matter.
See Also: <a href="https://www.benzinga.com/general/entertainment/24/10/41616337/google-bought-youtube-for-1-65b-and-now-it-prints-50b-in-revenue-just-in-1-year-sundar-pich">Google Bought YouTube For $1.65B And Now It Prints $50B In Revenue Just In 1 Year — Sundar Pichai Says Alphabet &#8216;Leaning Into The Living Room Experience&#8217;</a>
Google&#8217;s Chrome browser, which commands approximately two-thirds of the global browser market, plays a pivotal role in controlling internet views and ad visibility.
The browser&#8217;s high market share makes it a key revenue source for Google.
Google's vice president of regulatory affairs, Lee-Anne Mulholland, has criticized the DOJ&#8217;s &#8220;radical agenda,&#8221; saying it goes beyond the legal issues. 
Mulholland told Benzinga, &#8220;The government putting its thumb on the scale in these ways would harm consumers, developers and American technological leadership at precisely the moment it is most needed.&#8221;
The tech giant plans to appeal once U.S. District Judge Amit Mehta delivers a final ruling, expected by August 2025.
Why It Matters: Earlier, Alphabet CEO Sundar Pichai had said that the DOJ's proposals could lead to "<a href="https://www.benzinga.com/news/24/10/41616230/sundar-pichai-admits-doj-proposals-could-have-unintended-consequences-google-mapping-out-plan-b-in-c">unintended consequences</a>," during the company's third-quarter earnings call.
As DOJ's final proposed remedies on Nov. 20 inches closer, JPMorgan analyst Doug Anmuth sees potential headline risk but believes this <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/42036010/alphabet-on-trial-doj-remedies-loom-but-analyst-sees-20-upside-as-discount-to-meta-narrows">could bring clarity</a>.
He maintains an Overweight rating on GOOGL stock, with a price target of $212, reflecting a 20% upside from its current level.
Last month, Alphabet reported <a href="https://www.benzinga.com/news/earnings/24/10/41611263/alphabet-q3-earnings-highlights-revenue-beat-eps-beat-google-cloud-up-35-momentum-across-the-compan">third-quarter revenue</a> of $88.27 billion, up 15% year-over-year, beating a Street consensus estimate of $86.31 billion.
Price Action: Alphabet's Class A shares climbed 1.63% to close at $175.30 on Monday, while Class C shares gained 1.67%, ending at $176.80. However, in after-hours trading, Class A shares dipped 1% to $173.55, and Class C shares fell 0.83% to $175.34, according to Benzinga Pro data at the time of writing, according to <a href="https://benzinga.grsm.io/lxquj26b2sag">data from Benzinga Pro</a>.
Image via Shutterstock
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</ul>

Legal

Google Could Lose Chrome Browser In DOJ's Latest Antitrust Move (UPDATED)

Major U.S. indices had a mixed close on Monday, with the Dow Jones Industrial Average slipping 0.1% to 43,389.60, while the S&amp;P 500 rose 0.4% to 5,893.62, and the Nasdaq climbed 0.6% to 18,791.81.
These are the top stocks that gained the attention of retail traders and investors throughout the day:
Super Micro Computer, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>)
Super Micro Computer shares soared 15.93% to close at $21.54, after the company announced it has engaged BDO USA, P.C. as its independent auditor. The company also submitted a compliance plan to the Nasdaq to <a href="https://www.benzinga.com/trading-ideas/movers/24/11/42052157/whats-going-on-with-super-micro-computer-stock-after-hours">regain compliance</a> with its continued listing requirements. 
Bakkt Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BKKT#NYSE">BKKT</a>)
Bakkt Holdings shares surged 162.46% to close at $29.71, following reports that Trump Media &amp; Technology Group is in advanced talks to acquire the cryptocurrency company. Donald Trump, seen as pro-crypto, has reportedly led his media company into <a href="https://www.benzinga.com/general/social-media/24/11/42048594/trump-digs-deeper-into-cryptocurrency-bakkt-shares-soar-on-reported-interest-from-president-elects-media-company">advanced talks to acquire Bakkt</a>, a cryptocurrency firm backed by Intercontinental Exchange, in an all-share deal
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42014985/matt-gaetz-to-be-confirmed-as-attorney-general-in-a-trump-administration-not-so-fast-polymarket-traders-say?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Matt Gaetz To Be Confirmed As Attorney General In A Trump Administration? Not So Fast, Polymarket Traders Say</a>
MARA Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MARA#NASDAQ">MARA</a>)
MARA Holdings shares fell 14.07% to close at $18.11 after the company announced a $700 million convertible note offering to boost its Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) holdings and repurchase debt. The company&#8217;s shares fell, <a href="https://www.benzinga.com/partner/emerging-markets/24/11/41970156/investing-in-craft-the-benefits-of-boutique-brands-like-ibgs-australian-bitters">following the announcement</a>, of a $700 million convertible note offering to bolster Bitcoin holdings and address debt. The offering includes repurchasing 2026 notes and potential stock market impacts due to hedging activities by noteholders.
MicroStrategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>)
MicroStrategy shares rose 12.96% to close at $384.79, following the company&#8217;s announcement of the acquisition of 51,780 Bitcoin for approximately $4.6 billion. On Monday, the Michael Saylor-led company <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42042019/bitcoin-buyer-spree-microstrategy-acquires-4-6b-in-btc-metaplanet-issues-11-4m-in-bonds-to-fund-purchases">announced the purchase</a> of 51,780 BTC for nearly $4.6 billion, at an average price of $88,627 per coin.
Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)
Tesla shares climbed 5.62% to close at $338.74, following reports that President-elect Trump plans to <a href="https://www.benzinga.com/trading-ideas/movers/24/11/42038624/tesla-stock-is-trading-higher-monday-whats-going-on">ease restrictions</a> for self-driving vehicles. The proposed federal framework could accelerate Tesla&#8217;s plans for its Cybercab robotaxi by addressing regulatory caps, despite potential EV tax credit eliminations that Elon Musk supports to challenge competitors.
Prepare for the day&#8217;s trading <a href="Premarket Movers &amp; News">with top premarket movers and news</a> by Benzinga.
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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>

Bakkt Holdings, Inc. Class A Common Stock

BKKT

MARA

SMCI

Super Micro Computer, Bakkt Holdings, MARA Holdings, Microstrategy, And Tesla Inc: Why These 5 Stocks Are On Investors' Radars Today

On Monday, Cathie Wood-led Ark Invest made a series of trades, with Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) being the most prominent. This comes amidst reports of President-elect Donald Trump&#8217;s plans to ease restrictions for self-driving vehicles and Tesla&#8217;s shares racing higher.
The TSLA Trade
Ark Invest&#8217;s trade involving Tesla shares comes at a time when the company&#8217;s stock is <a href="https://www.benzinga.com/trading-ideas/movers/24/11/42038624/tesla-stock-is-trading-higher-monday-whats-going-on">experiencing a significant surge</a>. This surge is linked to reports that the incoming administration plans to prioritize a federal framework for autonomous vehicles, potentially making it easier to operate self-driving cars.
On Monday, Ark sold 30,939 Tesla shares worth $10.05 million from its flagship ARK Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKK#NYSE">ARKK</a>) fund. Tesla shares ended the day higher by 5.6% at $338.74.
Ark has been on a Tesla share-selling spree of late. After the Elon Musk-led company released its <a href="https://www.benzinga.com/markets/equities/24/10/41536387/cathie-woods-ark-sells-22m-worth-of-tesla-shares-following-blockbuster-q3-rally">third-quarter numbers</a> in late October, the Wood-led firm sold $22.2 million worth of the stock.
Wood has highlighted Tesla&#8217;s<a href="https://www.benzinga.com/markets/equities/24/10/41200165/cathie-wood-predicts-trillion-dollar-revenue-opportunity-for-tesla-in-autonomous-vehicles-winner"> trillion-dollar revenue pot</a>ential in autonomous vehicles. On the topic she said, &#8220;The company that gets people from point A to point B the fastest, safest, and with the least wait time is going to dominate the market.&#8221;
See Also: <a href="https://www.benzinga.com/24/11/42022585/michael-van-de-poppe-says-bitcoin-ethereum-and-altcoins-close-to-the-point-where-investors-can-buy-the-dip?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Michael Van De Poppe Says Bitcoin, Ethereum And Altcoins Close To The Point Where Investors Can &#8216;Buy The Dip&#8217;</a> 
Other Key Trades:
<ul>
<li>Ark purchased shares of Blade Air Mobility (BLDE) and sold shares of Rocket Lab USA Inc (RKLB).</li>
<li>The firm sold shares of Unity Software Inc (U) and purchased shares of Crispr Therapeutics AG (CRSP).</li>
</ul>
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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>

ARKK

Cathie Wood's Ark Sells $10M Of Tesla Stock As Trump's AV Plans Boost Stock

President-elect Donald Trump was discussing potential cabinet appointments with Brian Armstrong, the CEO of cryptocurrency exchange platform Coinbase Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>), in a closed-door meeting Monday
What Happened: The conversation would focus on cabinet and senior post appointments as Trump shapes his second administration, The Wall Street Journal <a href="https://www.wsj.com/livecoverage/stock-market-today-dow-sp500-nasdaq-live-11-18-2024/card/exclusive-trump-to-meet-privately-with-coinbase-ceo-brian-armstrong-DDkgF0xW1BW242rVeuqx">reported</a>, citing sources familiar with the matter. 
Coinbase didn&#8217;t immediately return Benzinga&#8217;s request for a comment. 
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42034692/dogecoin-killer-shiba-inu-burn-rate-skyrockets-6223-what-is-going-on?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Digs Deeper Into Cryptocurrency? B</a><a href="https://www.benzinga.com/general/social-media/24/11/42048594/trump-digs-deeper-into-cryptocurrency-bakkt-shares-soar-on-reported-interest-from-president-elects-media-company">akkt Shares Soar On Reported Interest From President-Elect&#8217;s Media Company</a>
Speculations pointed to Armstrong&#8217;s presence in <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/40001426/trump-aims-to-make-us-crypto-capital-of-the-planet-well-get-it-done" target="_blank" rel="noreferrer noopener">Trump's cryptocurrency presidential advisory council</a>, which was mentioned as part of his election promise earlier this year.
The meeting comes at a time when the cryptocurrency industry increasingly looks forward to a supportive federal government under Trump, who pledged various <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40179714/trumps-bitcoin-stockpile-plan-would-have-positive-impact-on-crypto-prices-but-would-leave-">pro-cryptocurrency initiatives</a> during the election campaign.
Why It Matters: Armstrong welcomed what he called &#8220;<a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41450334/there-has-never-been-a-more-pro-crypto-congress-than-the-next-one-heres-why" target="_blank" rel="noreferrer noopener">America&#8217;s most pro-crypto Congress ever</a>,&#8221; noting that over 219 pro-cryptocurrency candidates were elected to the House and Senate.
Coinbase&#8217;s top executive has been vocal about his vision for reducing government size and enhancing economic freedom, <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42035165/coinbase-ceo-brian-armstrong-says-doge-department-is-a-once-in-a-lifetime-opprtunity-advocates-abolishing-individual-income-tax">praising the idea</a> of a Department of Government Efficiency, or DOGE, under Elon Musk and Vivek Ramaswamy.
There have also been speculations about Charles Hoskinson, the co-founder of Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) and Cardano (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/ada/usd">ADA</a>), <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41853924/cardano-up-13-as-speculation-around-charles-hoskinson-as-trump-crypto-policy-advisor-bubbles">potentially serving as a cryptocurrency policy advisor</a> in the Trump administration.
Price Action: Shares of Coinbase were down 0.74% in after-hours trading after closing up 6.40% on Monday, 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>.
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$ADA

COIN

Trump And Coinbase CEO Brian Armstrong Reportedly In Talks Over Cabinet Appointments

Boeing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) is set to lay off more than 2,500 employees across four U.S. states, including Washington, Oregon, South Carolina, and Missouri. This move is part of the company&#8217;s broader plan to cut 17,000 jobs, which accounts for 10% of <a href="https://www.benzinga.com/general/travel/24/11/42014904/boeing-begins-layoffs-is-the-737-max-recovery-enough-to-lift-ba-stock">its global workforce</a>.
What Happened: The layoffs will impact engineers, technicians, and non-union workers, reported Reuters. On Wednesday, the affected employees were informed that they would remain on Boeing&#8217;s payroll until Jan. 17, in compliance with federal regulations.
Boeing&#8217;s decision to issue a Worker Adjustment and Retraining Notification (WARN) in mid-November was widely anticipated. Additional layoffs are expected in December. The company may also reduce its workforce through workforce attrition, selective hiring, and the sale of subsidiaries.
The layoffs are expected to affect workers in the company&#8217;s key manufacturing hubs, providing an indication of the impact on the workforce.
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/42025317/dogecoin-repeating-its-historical-pattern-says-analyst-meme-coin-set-to-touch-3-by-trumps-inauguration-day-2025?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Dogecoin &#8216;Repeating Its Historical Pattern,&#8217; Says Analyst: Meme Coin Set To Touch $3 By Trump&#8217;s Inauguration Day 2025</a>
Why It Matters: The layoffs come amid Boeing&#8217;s ongoing financial struggles. In October, the company announced <a href="https://www.benzinga.com/general/travel/24/11/42014904/boeing-begins-layoffs-is-the-737-max-recovery-enough-to-lift-ba-stock">plans to cut 10% of its workforce</a>. 
Despite these challenges, Boeing has been making efforts to recover. The company recently <a href="https://www.benzinga.com/news/large-cap/24/11/41946311/boeing-forecasts-67-growth-in-global-air-cargo-fleet-by-2043-driven-by-asia-demand">forecasted a 67% growth in the global air cargo fleet by 2043</a>, driven by strong demand in Asia. This indicates that Boeing is still a key player in the aviation industry and is working to adapt to changing market conditions.
Price Action: Boeing stock closed the regular trading session at $143.87 on Monday, up 2.63% for the day. In after-hours trading, the stock edged down 0.23%. Year to date, Boeing&#8217;s stock has declined significantly, falling 42.85%, according to <a href="https://pro.benzinga.com/dashboard">data from Benzinga Pro</a>.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/24/11/42022585/michael-van-de-poppe-says-bitcoin-ethereum-and-altcoins-close-to-the-point-where-investors-can-buy-the-dip?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Michael Van De Poppe Says Bitcoin, Ethereum And Altcoins Close To The Point Where Investors Can &#8216;Buy The Dip&#8217;</a></li>
</ul>
Image Via Shutterstock 
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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