Bitwise Crypto Industry Innovators ETF (ARCA: BITQ)

Dernières nouvelles pour Bitwise Crypto Industry Innovators ETF (ARCA:BITQ)

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Consumer Cyclical

The Fund invests in securities comprising the Index and in depositary receipts representing securities of the Index. The Index was designed by Bitwise Index Services, LLC (the Index Sponsor) to measure the performance of companies involved in servicing the crypto currency markets, including crypto mining firms, crypto mining equipment suppliers, crypto financial services companies, or other financial institutions servicing primarily crypto-related clientele (i.e., the crypto ecosystem). Under normal circumstances, the Fund invests at least 80% of its net assets (plus the amount of borrowings for investment purposes) in securities of Crypto Innovators.

Marathon Patent Group Inc.

Coinbase Global, Inc.

Microstrategy Inc

Terawulf Inc

Northern Data Ag

Iris Energy Ltd

Core Scientific Inc

Cipher Mining Inc

Cleanspark Inc.

Galaxy Digital Holdings Ltd

Bitwise Crypto Industry Innovators ETF

The U.S. dollar surged to its highest level in over two years against a basket of currencies on Friday, extending its rally to an eighth consecutive week — the longest winning <a href="https://www.benzinga.com/markets/forex">streak in 14 months. </a>
A wave of weaker-than-expected business activity data from Europe has weighed heavily on the euro and the British pound, as investors brace for faster rate cuts by the European Central Bank (ECB) and the Bank of England (BoE).
<h3 class="wp-block-heading">Eurozone PMI Dives Into Contraction</h3>
In November, private-sector activity in the eurozone unexpectedly contracted, triggering fresh concerns about the region&#8217;s economic outlook. 
The Composite Purchasing Managers&#8217; Index (PMI), compiled by S&amp;P Global, fell to 48.1, well below the neutral 50 threshold and missing forecasts for an unchanged reading. This marks the first contraction in eurozone business activity since January.
The downturn was driven by a drop in new orders, higher input prices, and escalating political uncertainty. 
Chris Williamson, chief business economist at S&amp;P Global, commented: &#8220;The flash PMI survey data for November showed the eurozone economy falling back into contraction, as malaise spread from the struggling manufacturing sector to the larger services economy.&#8221;
<h3 class="wp-block-heading">UK Economy Also Contracts</h3>
Across the Channel, the UK also delivered a disappointing PMI reading. The Composite PMI fell to 49.9, a drop from the previous month's 51.8, and below market expectations of 51.7. 
This marks the first contraction in UK private-sector activity since October 2023. 
&#8220;The November PMI is indicative of the economy slipping into a modest decline, with GDP dropping at a 0.1% quarterly rate, but the loss of confidence hints at worse to come &#8211; including further job losses -unless sentiment revives,&#8221; Williamson said.
<h3 class="wp-block-heading">Dollar Index Climbs as Euro, Pound Tumble</h3>
The U.S. Dollar Index (DXY), a key measure of the greenback's performance which is closely tracked by the Invesco DB USD Index Bullish Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUP#NYSE">UUP</a>), climbed above 107 — a level last seen on Nov. 18, 2022. 
The euro plunged to 1.04 against the dollar, its lowest level in two years. The pound fell to 1.25, on track for its eighth straight weekly loss — the longest losing streak since 1980.
On Friday, S&amp;P Global will release flash PMI data for the U.S. economy at 9.45 a.m. ET. Economists predict the Services PMI to edge higher from 55 to 55.2 in November, which would mark the strongest expansion since August.
Manufacturing momentum is also expected to improve from 48.5 to 48.8, albeit remaining in contractionary territory. 
<h3 class="wp-block-heading">Analysts: Euro Vulnerable Amid Weak Data And Geopolitical Risks</h3>
Forex analysts point to several catalysts for the euro's sharp decline. 
&#8220;The worsening of the Ukrainian crisis has opened up a phase of risk aversion, hitting the EUR and GBP,&#8221; said Luca Cigognini, a forex strategist at Intesa Sanpaolo.
Chris Turner, an analyst at ING Group, highlighted the technical significance of the euro's drop: &#8220;Today's release of softer-than-expected eurozone PMIs proved the catalyst for EUR/USD to break to the downside of its two-year trading range. Even though a near 7% drop in just two months is exceptionally rapid by historical standards, we remain confident in a lower EUR/USD trajectory. Support is limited, with the next key level around 1.0190/1.0200.&#8221;
BBVA analyst Alejandro Cuadrado echoed similar concerns, pointing out that additional downside pressure on the euro could arise from political instability in Germany, the outcome of the U.S. elections, and intensifying geopolitical risks. 
&#8220;The tense situation in Europe could worsen in the short term, and investors are clearly taking a cautious approach on the EUR,&#8221; he said.
Cuadrado's colleague, Michalis Onisiforou, shed light on Germany's economic struggles: &#8220;The collapse of Germany's coalition government and early elections mean there won't be any immediate fiscal response to alleviate the pessimism surrounding the domestic economy. Coupled with escalating risks in the Russo-Ukrainian war, Germany faces significant headwinds.&#8221;
Read Next:
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</ul>
Photo: Shutterstock

Eurozone

Currency ETFs

Forex

Econ #s

Economics

ETFs

PowerShares DB US Dollar Index Bullish Fund

Dollar Hits 2-Year High As European Recession Fears Hammer Euro, Pound

Barclays analyst Kannan Venkateshwar maintains Warner Music Gr (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WMG#NASDAQ">WMG</a>) with a Equal-Weight and lowers the price target from $32 to $31.

News

Price Target

Analyst Ratings

Barclays Maintains Equal-Weight on Warner Music Gr, Lowers Price Target to $31

Barclays analyst Seth Sigman maintains Walmart (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>) with a Overweight and raises the price target from $78 to $90.

Barclays Maintains Overweight on Walmart, Raises Price Target to $90

WIIM

PMAX

Powell Max shares are trading higher after the company secured a $40 million equity line of credit with Yorkville Advisors to enhance liquidity and support strategic investments.

AMIX

Autonomix Medical shares are trading lower after the company announced the pricing of a $9 million underwritten public offering.

Barclays analyst Adrienne Yih maintains Gap (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GAP#NYSE">GAP</a>) with a Overweight and raises the price target from $31 to $32.

Barclays Maintains Overweight on Gap, Raises Price Target to $32

Powell Max Secures $40M Equity Line Of Credit With Yorkville Advisors To Enhance Liquidity Solutions And Support Strategic Investments

Boxing legend Floyd Mayweather Jr. is expanding his real estate empire with a major stake in 601W Companies&#8217; $10 billion office portfolio, marking his latest move in commercial property investment. According to The Real Deal, the deal, announced just weeks after his $402 million apartment portfolio acquisition, gives him partial ownership of 18 buildings totaling 10 million square feet.
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While specific financial terms remain confidential, a source close to the deal described it as Mayweather&#8217;s &#8220;most significant&#8221; investment. The former world champion, who has accumulated $1.1 billion in career earnings, previously invested over $100 million with office landlord SL Green.
The portfolio includes prominent properties like 410 10th Avenue in Hudson Yards, Chicago&#8217;s Aon Center and Old Post Office Building and the Harborside office complex in Jersey City. Mark Karasick, managing member of 601W, confirmed that Mayweather&#8217;s investment will support property repositioning efforts and new acquisitions. The firm seeks opportunities in distressed office properties across major metropolitan areas, including Chicago and New York.
According to the report, 601W Companies has successfully navigated post-pandemic challenges. At 410 10th Avenue, purchased for $952 million in late 2020, the property maintains sufficient rental income to cover its mortgage obligations through 2032 despite occupancy dropping to 65%<a href="https://www.benzinga.com/news/24/04/38475445/us-regulators-seize-republic-first-bancorp-fulton-bank-steps-in-as-buyer-amid-regional-banking-woes"> following First Republic Bank&#8217;s collapse</a>.
See Also: This Jeff Bezos-backed startup will allow you to <a href="https://www.benzinga.com/money/bezos-landlord-100-dollars">become a landlord in just 10 minutes, with minimum investments as low as $100 for properties like the Byer House from Stranger Things.</a>
The firm recently secured a $65 million loan on an $85 million Harborside property acquisition, reflecting continued lender confidence. While facing industrywide refinancing hurdles, 601W has successfully negotiated several workout arrangements, including a three-year extension on the Aon Center&#8217;s half-billion-dollar debt package and fresh equity injection for Chicago&#8217;s One South Wacker Drive.
&#8220;New York City is the center of the world,&#8221; Mayweather said in a statement. &#8220;A wise person once told me if you buy real estate in New York and hold on to it over the years, you will always make money and win.&#8221;
The investment follows Mayweather&#8217;s October agreement to purchase Black Spruce Management&#8217;s apartment portfolio, comprising over 60 rental buildings in what could become New York City&#8217;s largest real estate transaction of the year.
The <a href="https://www.benzinga.com/markets/24/10/41581902/boxing-great-floyd-money-mayweather-makes-400-million-investment-in-affordable-housing-portfolio">undefeated boxer&#8217;s expanding real estate portfolio</a> reflects growing investor interest in office properties despite persistent market uncertainty. His partnership with 601W Companies, known for trophy office ownership and redevelopment expertise, signals confidence in the sector&#8217;s post-pandemic recovery potential.
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<li>Warren Buffett once said, "If you don't find a way to make money while you sleep, you will work until you die." <a href="https://www.benzinga.com/money/connect-invest-real-estate-notes">These high-yield real estate notes that pay 7.5% &#8211; 9% make earning passive income easier than ever.</a></li>
</ul>
Image from Shutterstock

Real Estate

Mayweather Punches Into $10B Office Portfolio, Betting On Post-COVID Revival

With Five-Year Series A Warrants Exercisable At $6.54 Per Share

Offerings

Autonomix Medical Prices $9M Public Offering Of Common Stock And Pre-Funded Warrant Units At $6.54 Per Unit

Barclays analyst Alex Scott maintains Reinsurance Gr (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RGA#NYSE">RGA</a>) with a Overweight and raises the price target from $250 to $255.

Barclays Maintains Overweight on Reinsurance Gr, Raises Price Target to $255

Virpax Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRPX#NASDAQ">VRPX</a>) saw its shares rise on Friday<a target="_blank" href="https://www.benzinga.com/premarket" rel="noreferrer noopener"> in the premarket session.</a>
Today, the company announced results from a Dose Range Finding (DRF) study for Probudur,<a target="_blank" href="https://www.benzinga.com/pressreleases/24/11/b42136987/virpax-announces-positive-results-for-the-swine-model-dose-range-finding-study-for-probudur" rel="noreferrer noopener"> its long-acting liposomal bupivacaine formulation.</a>
The study, conducted in minipigs, demonstrated that Probudur was well-tolerated with no adverse effects, supporting its potential for both immediate and extended pain relief. The DRF study was conducted to evaluate the tolerance of Probudur in an incisional wound healing model in minipigs. Probudur was injected locally into the tissue surrounding the incision area.
&#8220;The completion of these studies brings us another step closer to filing our Investigational New Drug Application (IND) for Probudur,&#8221; stated Jatinder Dhaliwal, Chief Executive Officer of Virpax.
According to&nbsp;<a target="_blank" href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw" rel="noreferrer noopener">Benzinga Pro</a>, VRPX stock has lost over 88% in the past year.
Also Read:<a target="_blank" href="https://www.benzinga.com/24/11/42133364/us-stocks-on-edge-but-likely-to-end-the-week-in-the-green-trumps-treasury-pick-in-focus-expert-says-case-for-fed-pause-in-december-getting-stronger" rel="noreferrer noopener"> US Stocks Set To Open Lower On Friday As Investors Eye Cyclical Stocks: Trump&#8217;s Treasury Pick In Focus, Expert Says Case For Fed Pause In December &#8216;Getting Stronger&#8217;</a>
Yesterday, the company announced the extension of its cooperative research and development agreement with the National Center for Advancing Translational Sciences (NCATS), part of the National Institutes of Health (NIH).
This collaboration will continue the development of Virpax&#8217;s promising product candidate, NES100, an intranasal peptide designed for the management of <a target="_blank" href="https://www.benzinga.com/pressreleases/24/11/b42123188/virpax-announces-agreement-with-the-u-s-department-of-health-and-human-services-for-the-developmen" rel="noreferrer noopener">acute and chronic non-cancer pain.</a>
NES100 is a novel enkephalin-based drug, utilizing advanced nanotechnology to enhance delivery into the brain.
Enkephalin, a naturally occurring peptide, has pain-relieving properties but is difficult to administer effectively in its original form. Virpax&#8217;s proprietary Molecular Envelope Technology (MET) protects and facilitates the drug&#8217;s delivery through the olfactory nerve pathway to the brain, where it targets delta opioid receptors to suppress pain.
Notably, NES100 has shown promise in animal models without the risks of opioid tolerance, withdrawal, or addiction.
Jatinder Dhaliwal, CEO of Virpax, emphasized that the collaboration will aid Virpax in advancing NES100 through preclinical and clinical stages, potentially offering a safer alternative to opioids for managing pain.
This development marks an important step in Virpax&#8217;s strategy to address pain management while mitigating opioid-related risks, Dhaliwal highlighted.
Price Action: VRPX shares are trading higher by 55.7% to $0.9181 premarket at last check Friday.
Image via Unsplash
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</ul>

Equities

Markets

Movers

General

VRPX

Why Is Virpax Pharmaceuticals Stock Gaining On Friday?

Oppenheimer analyst Ian Zaffino maintains Kyndryl Hldgs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KD#NYSE">KD</a>) with a Outperform and raises the price target from $33 to $37.

Oppenheimer Maintains Outperform on Kyndryl Hldgs, Raises Price Target to $37

Barclays analyst Saket Kalia maintains Procore Technologies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PCOR#NYSE">PCOR</a>) with a Equal-Weight and raises the price target from $66 to $78.

PCOR

Barclays Maintains Equal-Weight on Procore Technologies, Raises Price Target to $78

Barclays analyst Tim Long maintains NetApp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTAP#NASDAQ">NTAP</a>) with a Equal-Weight and raises the price target from $119 to $132.

NTAP

Barclays Maintains Equal-Weight on NetApp, Raises Price Target to $132

Oppenheimer analyst Scott Schneeberger maintains McGrath RentCorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MGRC#NASDAQ">MGRC</a>) with a Outperform and raises the price target from $124 to $139.

MGRC

Oppenheimer Maintains Outperform on McGrath RentCorp, Raises Price Target to $139

Anthropic, OpenAI's close rival, has raised an additional $4 billion from Amazon, and has agreed to make Amazon Web Services — Amazon's cloud computing division — the sole place it'll train its flagship generative AI models.
Anthropic says that it's working with Annapurna Labs, AWS' chipmaking division, to develop future generations of Trainium accelerators, AWS' custom-built chips for training AI models.
"Our engineers work closely with Annapurna's chip design team to extract maximum computational efficiency from the hardware, which we plan to leverage to train our most advanced foundation models," Anthropic wrote in a blog post.
&nbsp;

AMZN

'Anthropic raises an additional $4B from Amazon, makes AWS is 'primary' cloud partner' - TechCrunch

MicroStrategy Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) is trading at an astonishing 256% <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42121525/microstrategy-surges-674-in-2024-5-etfs-that-benefit-from-mstrs-bitcoin-driven-growth">premium to the net asset value</a> (NAV) of its Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) holdings, according to research conducted by BitMEX. 
The analysis highlights the extreme valuation disparity between MicroStrategy's current market capitalization, driven by its <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42090657/microstrategy-upsizes-convertible-notes-offering-to-2-6-billion-for-bitcoin-purchases">aggressive Bitcoin acquisition strategy</a>, and the actual value of the Bitcoin it holds.
"MicroStrategy's premium is insane, perhaps in part driven by some financial regulators banning people from buying Bitcoin ETFs. These people are so desperate for Bitcoin exposure, they buy MSTR instead, despite the premium," BitMEX Research <a href="https://x.com/BitMEXResearch/status/1859559585301909660?t=3y9RoHG42xLs-hFTMl2vDg&amp;s=19">stated</a>.
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42121376/strategic-bitcoin-reserve-wouldnt-require-new-taxpayer-dollars-says-sen-cynthia-lummis">Strategic Bitcoin Reserve Wouldn&#8217;t Require New Taxpayer Dollars, Says Sen. Cynthia Lummis</a>
<h3 class="wp-block-heading">Breaking Down the Numbers</h3>
MicroStrategy currently holds 331,200 bitcoin, valued at approximately $32.3 billion, assuming a Bitcoin price of $97,600.
However, with a fully diluted market cap of $115 billion and a share price of $474, the company's valuation significantly exceeds its Bitcoin holdings. 
This disparity reflects an implicit bet by investors on the company's ability to leverage its premium for further Bitcoin acquisitions.
BitMEX Research explored scenarios where MicroStrategy could theoretically align its Bitcoin per share value with its current trading price of $474, assuming the Bitcoin price remains constant at $97,600 and the premium persists. 
Under these conditions, MicroStrategy would need to:
<ul>
<li>Issue 157 million additional shares, raising $157 billion.</li>
<li>Accumulate 1.9 million Bitcoin in total holdings.</li>
<li>Reach a market capitalization of $674 billion, with a share price climbing to $1,685.</li>
</ul>
This iterative calculation assumes the company continues issuing new equity at a premium to acquire more Bitcoin, a strategy MicroStrategy has employed since 2020. 
"If the premium persists, the company can keep issuing new shares until the value of the Bitcoin per share equals the current share price," BitMEX Research added.
<h3 class="wp-block-heading">Premium Justified By Strategy?</h3>
While some argue that the premium reflects investor enthusiasm for indirect Bitcoin exposure, others view it as a speculative bubble. 
BitMEX Research emphasized that the premium may only remain sustainable if investors continue to believe in MicroStrategy's yield strategy. 
"At that point, with a $1,685 share price, people may need to think the premium will still remain for another round of this," the analysis stated.
The company's holdings position it as a major Bitcoin proxy, the 256% premium suggests that investors are paying a significant markup for exposure, far exceeding the actual value of its Bitcoin.
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</ul>
Image: Shutterstock

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

Cryptocurrency

$BTC

MSTR

MicroStrategy Trading At 'Insane' 256% Premium To Bitcoin Holdings, Research Shows

Barclays analyst Alex Scott maintains Manulife Financial (TSX:<a class="ticker" href="https://www.benzinga.com/stock/MFC#TSX">MFC</a>) with a Equal-Weight and raises the price target from C$39 to C$40.

TSX:MFC

Barclays Maintains Equal-Weight on Manulife Financial, Raises Price Target to C$40

GEHC

GE HealthCare Enhances OEC 3D C-Arm With Lung Suite And Expanded OEC Open Interface To Improve Imaging Precision And Workflow In Interventional Pulmonology

Buckle (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BKE#NYSE">BKE</a>) just disclosed its Q3 earnings on Friday, November 22, 2024 at 06:50 AM.
Here's a brief overview of the earnings report.
<h3>Earnings</h3>
Buckle beat estimated earnings by 5.0%, reporting an EPS of $0.88 versus an estimate of $0.84.
Revenue was down $9.84 million from the same period last year.
<h3>Earnings History Overview</h3>
The company beat on EPS by $0.02 in the previous quarter, leading to a 5.0% increase share price change the next day.
Here's a look at Buckle's past performance:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q2 2024</th>
<th>Q1 2024</th>
<th>Q4 2023</th>
<th>Q3 2023</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>0.76</td>
<td>0.74</td>
<td>1.44</td>
<td>0.98</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>0.78</td>
<td>0.69</td>
<td>1.59</td>
<td>1.04</td>
</tr>
<tr>
<td>Revenue Estimate</td>
<td>272.42M</td>
<td>263.64M</td>
<td>383.63M</td>
<td>316.70M</td>
</tr>
<tr>
<td>Revenue Actual</td>
<td>282.39M</td>
<td>262.48M</td>
<td>382.38M</td>
<td>303.46M</td>
</tr>
</tbody>
</table>

To track all earnings releases for Buckle <a href="https://www.benzinga.com/quote/BKE/earnings">visit their earnings calendar here.</a> 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

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