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 (OTC:WTTHF) Stock, Option Chain

Citigroup analyst Ben Gerlinger maintains Valley Ntl (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VLY#NASDAQ">VLY</a>) with a Neutral and lowers the price target from $10.5 to $10.

News

Price Target

Analyst Ratings

Citigroup Maintains Neutral on Valley Ntl, Lowers Price Target to $10

DA Davidson analyst William Jellison initiates coverage on Vertex (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VERX#NASDAQ">VERX</a>) with a Buy rating and announces Price Target of $62.

Initiation

VERX

DA Davidson Initiates Coverage On Vertex with Buy Rating, Announces Price Target of $62

Chinese EV maker and Tesla Inc. rival XPeng (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPEV#NYSE">XPEV</a>) will reportedly hire over 6,000 workers in the coming year.
What Happened: XPeng will hire more than 6,000 workers in 2025 in light of the increased competition expected next year, Reuters reported, citing an internal letter dated Tuesday from company funder and CEO He Xiaopeng.
Xiaopeng is now expecting a price war to begin in January. The company is also looking to expand its global footprint to over 60 markets in 2025, the report added.
XPeng, however, is not the sole Chinese EV maker on a hiring spree. In November, BYD Co Ltd. Executive Vice President He Zhiqi said on Weibo that the company hired <a href="https://www.benzinga.com/news/24/11/41706373/tesla-rival-byd-hired-over-200k-employees-in-3-months-to-speed-up-ev-production">over 200,000 people from August to October</a> for car and components manufacturing. BYD is the best-selling EV maker in China and makes both plug-in hybrid vehicles and battery-electric vehicles.
Why It Matters: Last month, XPeng witnessed its deliveries rise to 30,895 vehicles, marking an increase of 54% year-over-year and 29% from October.
The Guangzhou-based EV startup said that the company&#8217;s deliveries of the&nbsp;<a href="https://www.benzinga.com/markets/equities/24/07/39618570/xpeng-debuts-mona-series-with-m03-with-official-launch-in-august-report" target="_blank" rel="noreferrer noopener">XPeng Mona M03&nbsp;</a>hatchback coupe alone exceeded 10,000 units for the third consecutive month since launch. Deliveries of the XPeng P7+ sedan, which the company&nbsp;<a href="https://www.benzinga.com/tech/24/11/41893888/tesla-rival-xpengs-stock-surges-over-5-after-ev-maker-starts-deliveries-of-p7-sedan-in-china" target="_blank" rel="noreferrer noopener">launched last month</a>, also exceeded 7,000 units. 
XPeng President Brian Gu said in an interview with Reuters last month that it is expected to break even sometime later in 2025. In the quarter that ended in September, Xpeng recorded a revenue of $1.25 billion from vehicle sales and a net loss of $0.26 billion.
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:
<ul>
<li><a href="https://www.benzinga.com/news/global/24/12/42737037/tesla-shanghai-megafactory-starts-trial-production-seven-months-after-breaking-ground">Tesla Shanghai Megafactory Starts Trial Production Seven Months After Breaking Ground</a></li>
</ul>
Photo courtesy: Shutterstock

Global

Tech

XPEV

Tesla Rival XPeng To Hire Over 6,000 Workers In 2025 Expecting Increased Competition: Report

Shares of Cemtrex, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CETX#NASDAQ">CETX</a>) rose sharply in today's pre-market trading after the company posted stronger-than-expected sales for the fourth quarter, reporting quarterly sales of $18.10 million which beat the analyst consensus <a href="https://www.benzinga.com/quote/CETX/earnings">estimate of $16.39 million</a>.
Cemtrex shares jumped 16.6% to $3.65 in the pre-market trading session.
Here are some other stocks moving in pre-market trading.
<h3 class="wp-block-heading">Gainers</h3>
<ul>
<li>Eyenovia, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EYEN#NASDAQ">EYEN</a>) gained 135.7% to $0.2671 in pre-market trading after surging over 20% on Monday.</li>
<li>Aptorum Group Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APM#NASDAQ">APM</a>) gained 86.1% to $2.55 in pre-market trading after gaining 30% on Monday. Aptorum posted a H1 loss of 50 cents per share, versus a year-ago loss of $1.43 per share.</li>
<li>Blue Hat Interactive Entertainment Technology (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BHAT#NASDAQ">BHAT</a>) rose 94.2% to $0.24 in pre-market trading after gaining around 6% on Monday.</li>
<li>IT Tech Packaging, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ITP#NYSE">ITP</a>) gained 62.5% to $0.4711 in pre-market trading after gaining 7% on Monday.</li>
<li>Nxu, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NXU#NASDAQ">NXU</a>) gained 54% to $2.31 in pre-market trading after surging around 516% on Monday.</li>
<li>Mullen Automotive, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MULN#NASDAQ">MULN</a>) rose 53.6% to $1.69 in pre-market trading after climbing around 15% on Monday.</li>
<li>Actelis Networks, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASNS#NASDAQ">ASNS</a>) gained 46.9% to $1.91 in pre-market trading after gaining around 17% on Monday.</li>
<li>Brand Engagement Network, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BNAI#NASDAQ">BNAI</a>) gained 41.1% to $1.27 in pre-market trading after gaining around 11% on Monday.</li>
<li>Ocean Power Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OPTT#NYSE">OPTT</a>) gained 35.2% to $1.19 in pre-market trading after adding 85% on Monday.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul>
<li>Sangamo Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SGMO#NASDAQ">SGMO</a>) fell 50% to $1.17 in pre-market trading as the company announced its collaboration and license agreement with Pfizer on giroctocogene fitelparvovec will terminate effective April 21, 2025.</li>
<li>Ambow Education Holding Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMBO#NYSE">AMBO</a>) shares tumbled 12.3% to $2.99 in pre-market trading after the company 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.</li>
<li>Energous Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WATT#NASDAQ">WATT</a>) declined 28.3% to $1.90 in pre-market trading after jumping more than 550% on Monday.</li>
<li>Alset Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AEI#NASDAQ">AEI</a>) shares dipped 20.5% to $1.01 in pre-market trading after jumping 52% on Monday.</li>
<li>The Real Good Food Company, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RGF#NASDAQ">RGF</a>) fell 22.1% to $0.25 in pre-market trading as the company announced a reverse stock split.</li>
<li>SMX (Security Matters) Public Limited Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMX#NASDAQ">SMX</a>) shares fell 21.2% to $0.6460 in pre-market trading after climbing 132% on Monday.</li>
<li>Inspired Entertainment, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INSE#NASDAQ">INSE</a>) shares fell 20.9% to $7.00 in pre-market trading.</li>
<li>Blackboxstocks Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BLBX#NASDAQ">BLBX</a>) fell 14.2% to $2.29 in today's pre-market trading after jumping more than 62% on Monday.</li>
<li>Design Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DSGN#NASDAQ">DSGN</a>) dipped 13.8% to $5.32 in pre-market trading.</li>
<li>Richtech Robotics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RR#NASDAQ">RR</a>) fell 12.3% to $3.06 in pre-market trading after surging over 20% on Monday.</li>
</ul>
Now Read This: 
<ul>
<li><a href="https://www.benzinga.com/trading-ideas/short-ideas/24/12/42720878/top-3-tech-stocks-that-may-fall-off-a-cliff-this-quarter">Top 3 Tech Stocks That May Fall Off A Cliff This Quarter</a></li>
</ul>

Pre-Market Outlook

Markets

Movers

Trading Ideas

AMBO

ASNS

BHAT

BLBX

BNAI

CETX

DSGN

EYEN

INSE

MULN

OPTT

SGMO

WATT

Why Cemtrex Shares Are Trading Higher By Around 17%; Here Are 20 Stocks Moving Premarket

U.S. money market funds have witnessed the highest inflow of all-time reaching a record of $6.75 trillion. While the growth in these funds represents better liquidity, it also indicates that investors may have been sitting on cash signaling &#8220;latent buying power.&#8221;
What Happened: Since the Fed started raising rates in March 2022, according to the chart shared by Kevin Gordon, the director and senior investment strategist at Charles Schwab, about $2.2 trillion of funds have flowed into these funds. Furthermore, as the Fed still expects to cut rates twice in 2025, capital will still be flowing into money market funds.
<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">Massive move up in money market fund assets over the past several years, but that &#39;buying power&#39; isn&#39;t what it used to be &#8230; cash as a share of S&amp;P 500 market cap is historically low and unchanged over the past couple years <a href="https://t.co/PH885NqS68">pic.twitter.com/PH885NqS68</a>
&mdash; Kevin Gordon (@KevRGordon) <a href="https://twitter.com/KevRGordon/status/1872252474855428119?ref_src=twsrc%5Etfw">December 26, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
The money market fund assets have doubled over the last five years and it represents 13.1% of the S&amp;P 500&#8217;s market capitalization, according to the Kobeissi Letter.
Why It Matters: According to Alessandro S., the global market strategist and financial analyst at Macro Mornings, &#8220;This influx demonstrates strong demand for safer, liquid assets, it also represents a wall of sidelined cash.&#8221;
&#8220;During the early 2009 recovery, a reallocation of money market fund assets helped fuel a 60% rebound in the S&amp;P 500 over the next year.&#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">While this influx demonstrates strong demand for safer, liquid assets, it also represents a wall of sidelined cash. When cash piles reach these extremes, they often signal latent buying power. During the early 2009 recovery, a reallocation of money market fund assets helped fuel…
&mdash; Alessandro (@MacroMornings) <a href="https://twitter.com/MacroMornings/status/1873735236401459577?ref_src=twsrc%5Etfw">December 30, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/24/12/42732351/chamath-palihapitiya-says-s-p-500-index-etfs-need-to-be-fixed-or-they-will-end-in-disaster-here-is-w">Chamath Palihapitiya Says S&amp;P 500 Index ETFs Need To Be &#8216;Fixed&#8217; Or They Will End In &#8216;Disaster&#8217; — Here Is What The Billionaire Investor Said</a></li>
</ul>
Image generated using Dall-E

Market Summary

General

US Money Market Funds Hit Record High Of $6.75 Trillion: Does This Liquid Cash Pile Illustrate Latent Buying Power?

Editor&#8217;s Note: 
Boeing Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) saw a 4.53% decline in pre-market trading on Monday, according to <a href="https://pro.benzinga.com/">Benzinga Pro</a>. The drop follows a tragic aviation accident in South Korea, marking the country&#8217;s <a href="https://www.benzinga.com/markets/equities/24/12/42716905/boeing-in-spotlight-after-fatal-737-800-crash-in-south-korea-stock-declined-28-amid-deepening-2024-challenges">deadliest air disaster</a>.
What Happened:&nbsp;The incident occurred on Sunday when a Boeing 737-800 operated by Jeju Air&nbsp;crash-landed at Muan International Airport.&nbsp;The plane,&nbsp;carrying 175 passengers and six&nbsp;crew members, skidded off the runway, hit a wall, and burst into flames. This catastrophe resulted in the loss of 179 lives.
Following the incident, South Korea&#8217;s acting president Choi Sang-mok ordered emergency safety checks on all B737-800 Boeing aircrafts being operated by the country's airlines. 
The flight, Jeju Air 7C2216, departed from Bangkok and&nbsp;attempted to land shortly after&nbsp;9 a.m. local time,&nbsp;according to South Korea's transport&nbsp;ministry. The crash adds to Boeing&#8217;s&nbsp;ongoing challenges, including a 30%&nbsp;stock decline in 2024 and&nbsp;production restrictions following a January incident with Alaska Airlines.
Under new leadership since CEO&nbsp;David Calhoun&#8216;s <a href="https://www.benzinga.com/news/24/08/40542418/elon-musk-lauds-new-boeing-ceo-after-nasa-picks-spacex-to-return-starliner-crew-this-is-the-right-th">departure in August</a>, Boeing is focusing on safety improvements. The cause of the crash is&nbsp;under investigation by South Korean&nbsp;authorities. 
Meanwhile, Boeing&#8217;s stock has a consensus price target of $197.85, with recent ratings averaging $158.33, suggesting a potential downside.
A Boeing spokesperson told Benzinga, &#8220;We are in contact with Jeju Air regarding flight 2216 and stand ready to support them. We extend our deepest condolences to the families who lost loved ones, and our thoughts remain with the passengers and crew.&#8221;
<figure class="wp-block-image size-large"><a href="https://www.benzinga.com/quote/BA/analyst-ratings"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/30045540/Screenshot-2024-12-30-at-3.18.58%E2%80%AFPM-1024x375.png" alt="" class="wp-image-711077" /></a></figure>
See Also:&nbsp;<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">Robert Kiyosaki Warns Of Bitcoin In Black Rocks ETF: &#8216;I Love Bitcoin In My Wallet, I Would Not Trust It Is Suppressing Bitcoin Price&#8217;</a>
Why It Matters: The crash of Jeju Air 7C2216 is the latest in a series of challenges for&nbsp;Boeing, which has been grappling with safety concerns and production issues. The company has been under scrutiny since the <a href="https://www.benzinga.com/government/20/10/17938986/boeing-737-max-cleared-for-takeoff-after-19-month-grounding-european-regulator-says">grounding of the 737 MAX in 2019,</a> following two fatal crashes. Efforts to restore confidence in its aircraft have been ongoing, but incidents like the one in South Korea threaten to undermine these efforts.
In January,&nbsp;Boeing&nbsp;faced production restrictions after an incident involving <a href="https://www.benzinga.com/markets/equities/24/04/38097239/compensation-package-boeing-assists-alaska-air-with-160m-amid-crisis">an Alaska Airlines flight</a>. The company has been working on enhancing safety protocols and improving its aircraft&#8217;s reliability. The departure of former CEO David Calhoun in August marked a leadership change aimed at steering the company toward a safer and more secure future.
The recent crash could impact&nbsp;Boeing&#8217;s financial performance, as the company has already seen a 30% decline in its stock value in 2024. 
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/news/stock-split/24/12/42716205/peter-lynchs-timeless-investment-rules-you-can-always-lose-what-you-have-invested-even-if-a-stock-is-cheap?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Peter Lynch Shares Timeless Investment Rules: &#8216;You Can Always Lose What You Have Invested, Even If A Stock Is Cheap&#8217;</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.
Image via Shutterstock

Equities

Boeing Shares Fall Over 4% In Monday Premarket As Airplane Maker Faces Scrutiny After Deadliest 737-800 Crash In South Korea (UPDATED)

U.S. <a href="https://www.benzinga.com/24/12/42710703/sp-500-poised-for-best-year-vs-global-stocks-since-1997-bank-of-america-warns-of-2005-rotation">stock</a> futures were trading higher on Tuesday following Monday&#8217;s selloff. All four index futures rose in trade.
The Santa Rally, a typical year-end market surge, has seemingly failed to materialize this year, with stocks experiencing a downturn. However, the S&amp;P 500 index is on its way to achieving 20% plus return for the second consecutive year in 2024.
The 10-year and two-year Treasury notes yielded 4.51% and 4.24%, respectively. The probability of having no change in the interest rates for the upcoming Jan. 31, 2025, FOMC meeting was at 88.8%, <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">according to</a> CME Group&#8217;s FedWatch tool.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Change (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>0.40%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>0.29%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>0.18%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>0.38%</td>
</tr>
</tbody>
</table>
</figure>
In premarket trading on Tuesday, the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) was up 0.35% to $590.26 and the Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) rose 0.44% to $517.90, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.
Cues From The Last Session
U.S. stocks <a href="https://www.benzinga.com/24/12/42736503/dow-tumbles-over-400-points-fear-continues-to-grip-markets-fear-greed-index-remains-in-fear-zone">declined </a>on Monday, with the Dow Jones Industrial Average falling over 400 points during the trading session. The tech sector continued its downward trend, with Tesla Inc. and Meta Platforms Inc. shares dropping 3.3% and 1.4%, respectively. 
Despite the Monday losses, major indices still posted gains for the previous week. The Dow Jones Industrial Average rose 0.4%, ending a three-week losing streak, while the S&amp;P 500 added 0.7% and the Nasdaq Composite climbed 0.8%.
On the economic data front, the Chicago Purchasing Managers&#8217; Index (PMI) fell to 36.9 in December from 40.2 in November, below market expectations of 42.5. Conversely, U.S. pending home sales increased 2.2% month-over-month in November, exceeding market estimates of a 0.7% increase. The Dallas Fed&#8217;s Texas manufacturing activity index also showed improvement, rising six points to a reading of 3.4 in December.
All sectors within the S&amp;P 500 closed lower, with consumer discretionary, materials, and healthcare sectors experiencing the largest declines.
At the close of trading on Monday, the Dow Jones Industrial Average stood at 42,573.73, down approximately 418 points. The S&amp;P 500 fell 1.07% to 5,906.94, and the Nasdaq Composite dipped 1.19% to 19,486.79.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/-)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>-1.19%</td>
<td>19,486.78</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>-1.07%</td>
<td>5,906.94</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>-0.97%</td>
<td>42,573.73</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>-0.75%</td>
<td>2,227.78</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts
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.
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.
According to Jeff Weniger, the head of equities at WisdomTree, the S&amp;P 500 has had positive returns in the next 12 months each time economists&#8217; recession prediction has fallen to 15%.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The percentage of economists predicting recession has fallen to 15%, down from 47% in 2022. When it fell like this in 1970, 1975, 1983, 1992, 2002 and 2009, the S&amp;P 500 had positive returns in the following 12 months each time. Best wishes to all for a happy &amp; healthy 2025. <a href="https://t.co/Xarc8ohJFK">pic.twitter.com/Xarc8ohJFK</a>
&mdash; Jeff Weniger (@JeffWeniger) <a href="https://twitter.com/JeffWeniger/status/1873771253687029841?ref_src=twsrc%5Etfw">December 30, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Also, Jason Goepfert, consultant at White Oak Consultancy highlighted in an X post that S&amp;P 500 futures have gapped down more than 1% during the Santa Rally period for the fifth time in 2024.
<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">This will be only the 5th time since the inception of S&amp;P 500 futures that they gapped down more than -1% during the Santa Rally period. It was a bad omen ahead of the pandemic (who knew), not so much the other times. <a href="https://t.co/QwV8kMb7cp">pic.twitter.com/QwV8kMb7cp</a>
&mdash; Jason Goepfert (@jasongoepfert) <a href="https://twitter.com/jasongoepfert/status/1873736244674580839?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/money/how-to-trade-futures">How To Trade Futures</a>
Upcoming Economic Data
A few important data points will be released in this truncated week that will help investors determine the future course of action.
<ul>
<li>On Tuesday, November's S&amp;P Case-Shiller home price index for 20 cities will be announced at 9:00 a.m., ET.</li>
</ul>
<ul>
<li>No data is slated to be released on Wednesday, Jan. 1, owning to a New Year's holiday.</li>
</ul>
<ul>
<li>On Thursday, initial jobless claims till Dec. 28 will be announced at 8:30 a.m., ET.</li>
</ul>
<ul>
<li>Construction spending data for November will be released at 10:00 a.m., ET.</li>
</ul>
<ul>
<li>On Friday, ISM manufacturing data for December will be announced at 10:00 a.m., ET.</li>
</ul>
Stocks In Focus:
<ul>
<li>Sangamo Therapeutics Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SGMO#NASDAQ">SGMO</a>) was down 52.55% in premarket after it announced that its collaboration and license agreement with Pfizer on giroctocogene fitelparvovec will terminate effective April 21, 2025.</li>
</ul>
<ul>
<li>Cemtrex Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CETX#NASDAQ">CETX</a>) was up 15.02% after it 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.</li>
</ul>
<ul>
<li>CompoSecure Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMPO#NASDAQ">CMPO</a>) was up 4.47% after it announced plans to spin off Resolute Holdings Management.</li>
</ul>
<ul>
<li>Ambow Education Holding (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMBO#NYSE">AMBO</a>) was down 13.53% after its net revenue fell by 11.1% to $2.4 million during the quarter.</li>
</ul>
<ul>
<li>Faraday Future Intelligent Electric Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FFIE#NASDAQ">FFIE</a>) was up 17.2% after the company disclosed on Sunday that entrepreneur Luke Hans will receive the first &#8216;FF 91&#8217; 2.0 Futurist Alliance EV of 2025 during a January delivery ceremony with company executives.</li>
</ul>
Commodities, Gold And Global Equity Markets:
Crude oil futures were higher in the early New York session by 0.56% to hover around $71.39 per barrel.
The gold spot index was up by 0.39% to $2,628.34 per ounce. The Dollar Index was down 0.17% to 107.944 level.
Asian markets were mostly lower on Tuesday as Japan&#8217;s Nikkei 225, Australia&#8217;s ASX 200, South Korea&#8217;s Kospi, and China&#8217;s CSI 300 declined. Whereas, Hong Kong&#8217;s Hang Seng ended higher. European markets were mixed.
Read Next:
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<li><a style="font-weight: bold;" 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: Wikimedia

Bonds

Futures

Economics

Federal Reserve

CMPO

FFIE

TSLA

US Stocks Poised To Open Higher On Last Trading Day Of 2024: Analyst Sees S&P 500 At 7,000 In First Half Of 2025

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.
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/news/global/24/12/42638862/kiyosaki-warns-of-global-financial-crisis-protect-your-wealth-by-investing-in-real-assets?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">&#8216;Rich Dad Poor Dad&#8217; Author Robert Kiyosaki Warns Of Global Financial Crisis: &#8216;Invest In Real Assets To Protect Your Wealth by Investing in Real Assets&#8217;</a></li>
</ul>
Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
Image via Shutterstock

AMZN

'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.
Read Next:&nbsp;
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<li><a href="https://www.benzinga.com/news/24/12/42716153/massive-data-breach-exposes-millions-of-credit-and-debit-cards-is-your-account-safe?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Massive Data Breach Exposes Millions of Credit and Debit Cards—Is Your Account Safe?</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.
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"> 
<div class="wp-block-embed__wrapper">
<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>
</figure>
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>.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/equities/24/12/42736019/blackrock-faces-jan-10-deadline-for-compliance-over-bank-stakes-as-fdic-scrutinizes-investor-power-report">BlackRock Faces Jan. 10 Deadline For Compliance Over Bank Stakes As FDIC Scrutinizes Investor Power: Report</a></li>
</ul>
Image Via Unsplash
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Politics

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 $50 billion mark five times faster than the next quickest ETF, BlackRock&#8217;s&nbsp;own iShares Core MSCI EAFE&nbsp;ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/IEFA#BATS">IEFA</a>), which took nearly four&nbsp;years to achieve the same&nbsp;milestone, Bloomberg ETF&nbsp;analyst Eric Balchunas stated recently.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24IBIT&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$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>
</ul>
Photo courtesy: Shutterstock

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

Cryptocurrency

ETFs

$BTC

IBIT

IEFA

Blackrock's Bitcoin Fund Breaks Records With Historic ETF Launch—Will It Surpass The World's Biggest Gold ETF In January?

HUIZ

Huize Regains Nasdaq Compliance After ADS Price Stabilizes Above $1 Threshold

HIMX

Himax Partners With Ganzin To Launch Energy-Efficient Eye-Tracking Solution For AR Glasses At CES 2025

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>
</figure>
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>
</ul>
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

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 $20 billion of debt in 2024 to buy more coins.
Another post in the thread said, &#8220;For most of the year, the correlation between MicroStrategy and Bitcoin was incredibly strong. However, something began to shift over the last month, particularly as the company took on tons of debt. Then, MSTR suggested raising the authorized share count by 10 billion.&#8221;
According to Kobeissi, there shouldn&#8217;t exist such a divergence between the performance of the two assets as MSTR is considered a leveraged play on BTC. However, citing an example of a triple-levered S&amp;P 500 ETF, Kobeissi explains how the movement in such assets works.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">If <a href="https://twitter.com/search?q=%24MSTR&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$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>
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Photo courtesy: Shutterstock

MSTR

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>
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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

AAPL

NVDA

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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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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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>

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