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The Fund, under normal circumstances, invests at least 80 percent of the Funds net assets (plus borrowings for investment purposes) in financial instruments, including swap agreements and options, that, in combination, provide 1X daily inverse (opposite) or short exposure to BRK/B, consistent with the Funds investment objective.

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Direxion Daily BRKB Bear 1X Shares

In the midst of a wider cryptocurrency market recovery, the burn rate of Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>) has seen a dramatic increase of 580%.
What Happened: A significant rise in the burn rate and price of the Shiba Inu token, despite a decrease in volume.&nbsp;Data from blockchain tracking firm&nbsp;Shibburn indicates a 580.28% increase in SHIB&#8217;s&nbsp;burn rate over the last&nbsp;day.
This surge coincides with a 4.27% increase in the overall crypto market capitalization. SHIB&#8217;s price has also followed this upward trend, rising by 5.89% during the same period.
The SHIB team reportedly burned 16,607,692 SHIB in the last 24 hours, a 590.19% increase from the previous day. This token burning strategy is designed&nbsp;to reduce the circulating supply&nbsp;and create scarcity.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">HOURLY SHIB UPDATE<a href="https://twitter.com/search?q=%24SHIB&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SHIB</a> Price: $0.0000122 (1hr 0.08% ▲ &#x7C; 24hr 5.46% ▲ ) Market Cap: $7,187,116,903 (5.68% ▲) Total Supply: 589,252,243,610,998 TOKENS BURNT Past 24Hrs: 16,607,692 (580.28% ▲) Past 7 Days: 79,148,012 (-57.86% ▼)
&mdash; Shibburn (@shibburn) <a href="https://twitter.com/shibburn/status/1910784968483115202?ref_src=twsrc%5Etfw">April 11, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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However, despite the daily increase, SHIB&#8217;s weekly burn rate has seen a significant decline. The data shows&nbsp;a 57.86% drop compared to&nbsp;the previous week. The&nbsp;sudden jump in the burn&nbsp;rate is speculated to be a move by the SHIB team&nbsp;to restore investor confidence and&nbsp;fuel bullish momentum.
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44348135/shiba-inus-burn-rate-soars-removing-505-million-tokens-from-circulation">Shiba Inu&#8217;s Burn Rate Soars, Removing 505 Million Tokens From Circulation</a>
Despite the increase in SHIB&#8217;s burn rate and price, its trading volume remains low, which has raised&nbsp;concerns among investors. <a href="https://coinmarketcap.com/currencies/shiba-inu/">Data </a>from&nbsp;CoinMarketCap shows a significant slump of 21.54% in SHIB&#8217;s trading volume as of April 11.
Why It Matters: The increase in SHIB&#8217;s burn rate comes at a time when the cryptocurrency market is experiencing a rebound. This could be a strategic move by the SHIB team to capitalize on the market&#8217;s upward trend and stimulate further growth. 
However, the decrease in trading volume could be a cause for concern, as it may indicate a lack of investor interest or confidence in the token. 
The SHIB team&#8217;s decision to increase the burn rate could be an attempt to counteract this and stimulate demand by creating scarcity.
Read Next
<a href="https://www.benzinga.com/markets/cryptocurrency/25/01/42935252/shiba-inu-burns-skyrocket-by-300-amid-calls-for-larger-burns-from-shib-army" target="_blank" rel="noreferrer noopener">Shiba Inu Burns Skyrocket by 300% Amid Calls for Larger Burns From SHIB Army</a>
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$SHIB

Shiba Inu's Burn Rate Skyrockets 580% as Cryptocurrency Market Rebounds

At 35, Aubrey Bertram was looking forward to a major financial milestone: erasing more than $247,000 in student loan debt. But with just 29 months left until forgiveness, her progress has come to a halt.
According to <a href="https://www.nbcnews.com/business/personal-finance/35-year-old-was-29-months-away-getting-247804-student-debt-forgiven-no-rcna199358">NBC News</a>, Bertram, a staff attorney at nonprofit land conservation organization Wild Montana, was working toward loan cancellation through the Public Service Loan Forgiveness program. She had carefully mapped out her career to qualify for the program, which forgives remaining federal student loan balances for government and nonprofit workers after 10 years of qualifying payments.
Now, like millions of other borrowers, she's stuck in limbo.
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<h2 class="wp-block-heading">Loan Forgiveness Timeline Put on Pause</h2>
Bertram had enrolled in the Biden-era SAVE plan — Saving on a Valuable Education — which was designed to lower monthly payments and offer a clearer path to forgiveness. But legal challenges led by Republican states resulted in a federal court <a href="https://www.benzinga.com/government/24/07/39849095/appeals-court-blocks-bidens-save-student-loan-debt-relief-plan">blocking the SAVE plan</a> last year.&nbsp;
Unlike the pause during the COVID-19 pandemic, this current forbearance doesn't count toward forgiveness under PSLF or other income-driven repayment plans. That means time is passing, but Bertram and others like her aren't getting any closer to their debt being wiped away.
"In the end, we may see borrowers lose over a year of monthly payments to count toward forgiveness," said Elaine Rubin of Edvisors, an organization that helps students understand college financing.
Trending: BlackRock is calling 2025 the year of alternative assets. <a href="https://www.benzinga.com/money/masterworks">One firm from NYC has quietly built a group of 60,000+ investors who have all joined in on an alt asset class previously exclusive to billionaires like Bezos and Gates.</a>
<h2 class="wp-block-heading">What Borrowers Can Do Now</h2>
While SAVE is frozen, the <a href="https://www.benzinga.com/general/education/25/03/44444175/trump-orders-steps-to-dismantle-department-of-education-what-it-means-for-student-loans">U.S. Department of Education</a> has reopened applications for several older IDR plans. These include:
<ul>
<li>Income-Based Repayment, IBR </li>
<li>Pay As You Earn, PAYE</li>
<li>Income-Contingent Repayment, ICR</li>
<li></li>
</ul>
However, there's a catch. Scott Buchanan, executive director of the Student Loan Servicing Alliance, told NBC News that automatic forgiveness after 20 or 25 years may not apply to these plans under current legal interpretations. Still, borrowers in these plans can continue to make progress toward PSLF if they qualify.
Additionally, past payments made under one IDR plan can count toward forgiveness in another — for example, switching from ICR to IBR — as long as eligibility criteria are met.
See Also: Many are using retirement income calculators to check if they&#8217;re on pace —<a href="https://www.benzinga.com/money/how-do-i-calculate-my-retirement-income-adv"> here&#8217;s a breakdown on what&#8217;s behind this formula.</a>
<h2 class="wp-block-heading">Staying Put or Switching Plans?</h2>
Bertram has chosen to stay in the SAVE forbearance for now, despite the fact that it isn't helping her move toward forgiveness. She's concerned that switching to another plan could result in even more uncertainty.
"You're constantly being jerked around by political rhetoric," Bertram said. "I just hope I'm student-debt free before I'm 40."
<h2 class="wp-block-heading">How to Evaluate Your Options</h2>
If you&#8217;re one of the many borrowers affected by the freeze, experts suggest reviewing your options with care. Tools from the Department of Education and nonprofit resources can help estimate monthly payments under different plans. PSLF-eligible borrowers should confirm that their employer qualifies and keep detailed records of payments.
The legal landscape for <a href="https://www.benzinga.com/personal-finance/25/02/43622327/u-s-student-loan-debt-hits-2-19-trillion-heres-why-experts-say-borrowers-shouldnt-panic-yet">student debt</a> is changing rapidly. For borrowers like Bertram, the hope is that stability — and forgiveness — will arrive sooner rather than later.
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Personal Finance

She Was 29 Months From Erasing $247K In Student Debt – Now Her Forgiveness Is Frozen

Adaptive Security, a New York-based cybersecurity firm, has successfully raised $43 million in a Series A funding round. According to<a href="https://www.msn.com/en-us/money/smallbusiness/why-openai-and-andreessen-horowitz-just-bet-43-million-on-this-little-known-startup/ar-AA1Cmvds"> Inc.</a>, this round was co-led by <a href="https://www.benzinga.com/25/04/44580172/openai-finalizes-historic-40-billion-funding-round-valuing-company-at-300-billion-with-backing-from-softbank-and-microsoft">OpenAI</a>&#8216;s Startup Fund and <a href="https://www.benzinga.com/startups/24/08/40221033/peter-thiel-launched-j-d-vances-venture-capital-career-but-a-former-colleague-says-he-was-rarely-in">venture capital</a> firm Andreessen Horowitz, marking OpenAI&#8217;s inaugural investment in the cybersecurity sector.
Other participants included Abstract Ventures, Eniac Ventures, CrossBeam Ventures, and K5, along with executives from companies such as Alphabet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>, GOOGL)), Workday (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WDAY#NASDAQ">WDAY</a>), Shopify (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHOP#NYSE">SHOP</a>), Plaid, and Paxos.
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<h2 class="wp-block-heading">A Strategic $43M Investment in Cyber Defense</h2>
Adaptive Security was founded after its creators recognized the growing threat of AI-enabled cyber attacks. The startup is creating a new AI-native defense platform that will enable enterprises to proactively detect, protect against, and respond to advanced threats, such as deep fake social engineering.
The program uses AI to scan and flag fraudulent-looking messages by assigning them risk levels and alerting company security teams. Adaptive Security also preemptively tests employees with simulated phishing attacks via AI-generated emails, text messages, and voice calls, offering personalized training if they fall for the simulated phishing attempts.
Brian Long, co-founder and CEO of Adaptive Security, emphasized the company&#8217;s mission on the startup&#8217;s official site: &#8220;Adaptive's mission is to protect people from AI-powered cyber attacks. Over the next decade, we will work tirelessly to stay one step ahead of attackers with enhanced features, new products, and scale to every business globally.&#8221;
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This investment is all the more notable as it involves OpenAI, a pioneer in AI research and deployment. This collaboration shows a broader recognition in the industry when it comes to the importance of strong cybersecurity measures, especially since the pace of development around AI increased. Adaptive Security&#8217;s platform is designed to stay one step ahead of malicious actors who use AI increasingly to carry out sophisticated cyber attacks.
Adaptive Security was publicly launched in January and has since signed over 100 customers, <a href="https://techcrunch.com/2025/04/03/openai-just-made-its-first-cybersecurity-investment/">TechCrunch</a> wrote. According to Inc., some of the early adopters include Podium, First State Bank, the Dallas Mavericks, and BMC.
Word of how well this pilot project went spread, and that was a big factor in attracting OpenAI&#8217;s attention and subsequent investment. The fresh capital will be used to expand the engineering team, whose goal is to enhance the platform to better defend against new AI-powered cyber attacks.
See Also: <a href="https://www.benzinga.com/money/vatom-adv">Invest in the Future of Digital Engagement. Own a Piece of the $100 Billion Metaverse Today for Just $500.</a>
<h2 class="wp-block-heading">What the Investment Means for Adaptive Security's Future</h2>
Cybersecurity is undergoing a paradigm shift with cybercriminals using generative AI to enhance the scale and sophistication of their attacks. Such advanced threats are often beyond traditional security solutions.
Adaptive Security&#8217;s ingenious approach addresses this gap by identifying and handling threats and by strengthening the human element within organizations through specific training and simulations.
Having Andreessen Horowitz on board also proves the startup can set a new bar in the cybersecurity sector. Adaptive Security&#8217;s mission aligns with the venture capital firm's commitment to paving the way for impactful technology portfolio startups. Together, these two forces can drive the development and deployment of the solutions that will protect businesses from the next generation of cyber threats. ​
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OpenAI And Andreessen Horowitz Lead $43M Round For Cybersecurity Startup Taking On AI Scammers, Deepfakes, And Voice Spoofs

Benzinga examined the prospects for<a href="http://www.benzinga.com/trading-ideas" target="_blank" rel="noreferrer noopener"> many investors' favorite stocks</a> over the last week — here's a look at some of our top stories.
President Donald Trump's hold on global tariffs but imposition of a 145% levy on Chinese imports led to significant market volatility and eroding confidence in the dollar and Treasuries this week. The 30-year Treasury yield briefly reached 5%, indicating the return of bond vigilantes — investors selling bonds in reaction to policy decisions.
Despite the turmoil, certain stocks have outperformed. For instance, Amazon (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) and Tesla (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) have shown resilience amid the market's fluctuations, demonstrating robust fundamentals and strategic positioning that appeal to investors even during uncertain times.
Overall, while the broader market faces challenges from escalating trade tensions and policy uncertainties, select companies continue to thrive, highlighting the importance of strategic agility and strong fundamentals in navigating volatile economic landscapes.
Benzinga provides daily reports on the stocks most popular with investors. Here are a few of this past week's most bullish and bearish posts that are worth another look.
The Bulls
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/04/44696168/apple-is-a-buying-opportunity-again-as-key-valuation-level-flashes-green-bank-of-america-says">"Apple Is A ‘Buying Opportunity' Again As Key Valuation Level Flashes Green, Bank Of America Says"</a>, by Piero Cingari, reports that Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) shares have dropped 17% since April 2, more than double the S&amp;P 500's decline in the same period, and Bank of America analyst Wamsi Mohan views this as a buying opportunity, citing historical data showing average gains of 17% one year after Apple's P/E ratio compresses under 25x.
<a href="https://www.benzinga.com/news/buybacks/25/04/44674899/broadcom-stock-jumps-on-10-billion-buyback-authorization">"Broadcom Stock Jumps On $10 Billion Buyback Authorization"</a>, by Adam Eckert, reports that Broadcom Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>) shares rose after the company authorized a $10 billion share repurchase program through the end of 2025, reflecting confidence in its semiconductor and infrastructure software businesses.
<a href="https://www.benzinga.com/25/04/44683383/marvell-plays-ai-hardball-divestiture-sparks-155-upside-says-analyst">"Marvell Plays AI Hardball: Divestiture Sparks 155% Upside, Says Analyst"</a>, by Surbhi Jain, reports that Marvell Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRVL#NASDAQ">MRVL</a>) sold its automotive Ethernet business to Infineon Technologies AG for $2.5 billion, prompting JPMorgan analyst Harlan Sur to reaffirm an Overweight rating and set a $130 price target — implying a 155% upside — as the company intensifies its focus on AI and cloud data center growth.
For additional bullish calls of the past week, check out the following:
<a href="https://www.benzinga.com/news/earnings/25/04/44701164/aehr-test-systems-stock-climbs-after-q3-results-details">Aehr Test Systems Stock Climbs After Q3 Results: Details</a>
<a href="https://www.benzinga.com/government/regulations/25/04/44752313/health-care-technology-stocks-surge-after-fda-announces-plans-to-phase-out-animal-testing-requirements">Health Care Technology Stocks Surge After FDA Announces Plans To Phase Out Animal Testing Requirements</a>
<a href="https://www.benzinga.com/news/large-cap/25/04/44725578/technology-stocks-outperform-after-trumps-tariff-pause-microchip-technology-amd-lead-sector-higher">Technology Stocks Outperform After Trump's Tariff Pause: Microchip Technology, AMD Lead Sector Higher</a>
The Bears
<a href="https://www.benzinga.com/news/global/25/04/44741043/nike-stock-tumbles-as-us-china-trade-war-intensifies-what-you-need-to-know">"Nike Stock Tumbles As US-China Trade War Intensifies: What You Need To Know"</a>, by Adam Eckert, reports that Nike Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NKE#NYSE">NKE</a>) shares fell 10.3% to $53.18 amid escalating U.S.-China trade tensions, as the company's reliance on imports from China, Vietnam, and Indonesia exposes it to new tariffs, including a 145% rate on Chinese goods.
<a href="https://www.benzinga.com/news/global/25/04/44725016/us-steel-stock-tumbles-as-trump-says-we-dont-want-to-see-it-go-to-japan">"US Steel Stock Tumbles As Trump Says ‘We Don't Want To See It Go To Japan'"</a>, by Adam Eckert, reports that United States Steel Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/X#NYSE">X</a>) shares fell over 11% in after-hours trading after Trump expressed opposition to the company's acquisition by Nippon Steel, stating, "We don't want to see it go to Japan."
<a href="https://www.benzinga.com/25/04/44684590/microns-meltdown-tariff-surcharge-adds-salt-to-the-stocks-slide">"Micron's Meltdown: Tariff Surcharge Adds Salt To The Stock's Slide"</a>, by Surbhi Jain, reports that Micron Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MU#NASDAQ">MU</a>) shares plunged over 22% in five trading days as the company imposed a tariff-related surcharge on U.S. customers, exacerbating bearish technical signals with the stock trading below key moving averages and nearing oversold RSI levels.
For more bearish takes, be sure to see these posts:
<a href="https://www.benzinga.com/trading-ideas/technicals/25/04/44695368/death-cross-alert-alphabet-stock-drops-the-signal-bears-pick-it-up">Death Cross Alert: Alphabet Stock Drops The Signal, Bears Pick It Up</a>
<a href="https://www.benzinga.com/25/04/44715119/pfizer-stock-is-sliding-wednesday-whats-going-on">Pfizer Stock Is Sliding Wednesday: What's Going On?</a>
<a href="https://www.benzinga.com/25/04/44748974/death-cross-meets-tax-threat-tsms-chip-dip-has-more-than-just-technicals-to-blame">TSMC Triggers Death Cross As Trump Tariff Threats Add To Investor Concerns</a>
Keep up with all the latest breaking news and trading ideas by following <a href="https://twitter.com/Benzinga" target="_blank" rel="noreferrer noopener">Benzinga</a><a href="http://twitter.com/Benzinga" target="_blank" rel="noreferrer noopener"> on X</a>.
Image created using artificial intelligence via Midjourney.

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Benzinga Bulls And Bears: Apple, Nike, US Steel — And The Markets Ride Out Ongoing Volatility

On Friday, China's General Administration of Customs implemented a new rule that determines the country of origin for semiconductor products based on the location of wafer fabrication — not where the chips are designed, developed, or packaged.
What Happened: As a result of this development, chips designed by U.S.-based companies like Nvidia Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), Advanced Micro Devices (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>), and Qualcomm Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>) but manufactured by foundries in Taiwan, such as Taiwan Semiconductor Manufactoring Co. Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) and United Microelectronics Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UMC#NYSE">UMC</a>), will be exempt from <a href="https://www.benzinga.com/markets/25/04/44756353/xi-jinping-says-there-are-no-winners-in-tariff-war-as-china-slaps-125-tariffs-on-us-goods-urges-trump-to-immediately-correct-wrongdoings">China's 125% retaliatory tariffs</a> on U.S. imports, <a href="https://www.tomshardware.com/tech-industry/chinas-new-semiconductor-rule-spares-taiwan-fabs-punishes-intel-globalfoundries-and-texas-instruments">reported</a> Tom's Hardware.
However, this rule delivers a blow to U.S. chipmakers like Intel Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>), GlobalFoundries (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GFS#NASDAQ">GFS</a>), and Texas Instruments (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TXN#NASDAQ">TXN</a>), which fabricate their chips domestically.
Products from these companies will now face the full brunt of China&#8217;s import tariffs, dramatically impacting their competitiveness in the Chinese market.
See Also: <a href="https://www.benzinga.com/tech/25/04/44630304/qualcomm-expands-ai-ambitions-with-acquisition-of-vinais-generative-ai-division">Qualcomm Expands AI Ambitions With Acquisition of VinAI&#8217;s Generative AI Division</a>
The China Semiconductor Industry Association (CSIA) issued a notice clarifying that the "country of origin" for all chips — packaged or unpackaged — will be based solely on where the wafers were processed.
Because China considers Taiwan part of its own territory, chips produced in Taiwanese fabs are not subject to the punitive tariffs, even if designed and sold by American firms.
<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">BIG: &quot;China Semiconductor Industry Association Issues Urgent Notice on Rules for Determining the &#39;Country of Origin&#39; of Semiconductor Products&quot; The China Semiconductor Industry Association has issued an urgent notice regarding the rules for determining the &quot;country of origin&quot; of… <a href="https://t.co/41JJL0fdg5">pic.twitter.com/41JJL0fdg5</a>
&mdash; Ray Wang (@rwang07) <a href="https://twitter.com/rwang07/status/1910532580861935953?ref_src=twsrc%5Etfw">April 11, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Why It Matters: This change effectively divides U.S. semiconductor firms into winners and losers. Designers like Nvidia, AMD, Broadcom Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>), and Qualcomm benefit from outsourcing production to Taiwan, which keeps their products tariff-free and their access to China intact.
Meanwhile, chipmakers with U.S.-based fabrication operations—such as Intel's fabs in Arizona and Oregon and GlobalFoundries' Fab 8 in New York—are now disadvantaged.
The rule bolsters China's geopolitical stance by treating Taiwan as a domestic supplier and incentivizes more outsourcing to Taiwanese and Chinese foundries, the report noted.
It may also redirect chip business away from U.S. fabs, pushing global firms to avoid sourcing from the U.S. to sidestep tariffs.
In a note released Thursday, Goldman Sachs economists, led by Andrew Tilton, warned that the abrupt hike in U.S. tariffs on Chinese imports — raised to 125% as of April 9 — could significantly impact China's economy and put as many as 20 million export-related jobs at risk.
Qualcomm has a growth score of 60.95, according to Benzinga Edge Stock Rankings. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Click here to see how it stacks up against</a> companies like Nvidia, AMD, TSMC, Intel, and others.
<figure class="wp-block-image aligncenter size-full is-resized"><a href="https://www.benzinga.com/quote/QCOM"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/12020305/Screenshot-2025-04-12-at-11.32.55%E2%80%AFAM.png" alt="" class="wp-image-868815" style="width:420px;height:auto" /></a></figure>
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Tech

INTC

NVDA

QCOM

Trump Tariff Wars: China's New Rule To Exempt Nvidia, Qualcomm And Others From Levies, But These Chip Companies Will Be Hit With 125% Tariffs

Robert F. Kennedy Jr., the nation&#8217;s top health official, questioned whether society should bear the cost of healthcare for individuals who engage in unhealthy habits, such as smoking or consuming doughnuts.
What Happened: In an interview <a href="https://www.cbsnews.com/news/rfk-jr-sweeping-cuts-health-programs-employees-exclusive-interview/">with</a> CBS News, Kennedy asked, "If you're smoking three packs of cigarettes a day, should you expect society to pay when you get sick?"
He emphasized that while Americans have the freedom to make such choices, the question remains whether society should cover the resulting health care costs.
Public health experts expressed concern, suggesting Kennedy&#8217;s remarks could imply limiting access to health care based on personal behavior.
See Also: <a href="https://www.benzinga.com/25/04/44777097/gm-halts-electric-van-production-in-ontario-amid-sluggish-sales-1200-employees-affected">GM Halts Electric Van Production In Ontario Amid Sluggish Sales: 1,200 Employees Affected</a>
Meanwhile, the Department of Health and Human Services (DHHS) clarified that Kennedy aims to empower individuals with better health options, not to shame them.
His comments, they said, reflect a broader strategy to align public health outcomes with smart incentives.
Amid these discussions, Kennedy&#8217;s department has faced criticism for recent layoffs affecting programs aimed at reducing smoking, raising questions about the impact on public health efforts.
Why It Matters: This debate comes on the heels of <a href="https://www.benzinga.com/markets/25/03/44550801/rfk-jr-spreading-misinformation-and-lies-fdas-top-vaccine-official-walks-out-sparking-debate-on-safety-an">RFK Jr.&#8217;s previous controversies</a> surrounding health policies. Recently, Peter Marks, the FDA&#8217;s top vaccine official, resigned due to Kennedy&#8217;s stance on vaccine misinformation.
Marks was integral in the COVID-19 vaccine rollout, and his departure has sparked concerns about the politicization of health decisions.
Additionally, Kennedy has been proactive in addressing health issues by <a href="https://www.benzinga.com/markets/equities/25/03/44209953/rfk-jr-takes-on-food-giants-calls-meeting-with-pepsico-and-general-mills">engaging</a> with major food companies. In March, he called a meeting with executives from PepsiCo Inc. and General Mills Inc., urging them to address their role in public health challenges.
Earlier in February, a media report stated that the Trump administration is <a href="https://www.benzinga.com/25/02/43999106/trumps-officials-to-re-consider-modernas-590-million-bird-flu-vaccine-funding-hhs-cites-biden-administrations-failed-oversight">planning to reconsider</a> $590 million in funding for Moderna Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRNA#NASDAQ">MRNA</a>) bird flu vaccine, with RFK Jr.&#8217;s HHS slamming the Biden administration for a lack of oversight.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Health Care

Politics

MRNA

RFK Jr Asks If Taxpayer-Funded Healthcare Should Be Accessible To People Smoking 'Three Packs A Day'

Amid the ongoing legal tussle between Elon Musk and Sam Altman-led OpenAI, a group of former OpenAI employees has stepped forward to support Musk in his fight against the company&#8217;s transition to a for-profit model.
What Happened: A group of 12 former OpenAI employees has thrown their support behind Musk in his <a href="https://www.benzinga.com/tech/24/12/42257564/musk-goes-to-court-to-block-openais-for-profit-transition">legal battle against the AI startup</a>&#8216;s shift to a for-profit model, CNBC <a href="https://www.cnbc.com/2025/04/11/ex-openai-staffers-back-musks-case-against-move-to-for-profit-entity.html">reported</a> on Friday.
These ex-staffers, who were part of OpenAI from 2018 to 2024, have requested a California district court to allow them to express their concerns about the company&#8217;s transformation. The filing was made by Lawrence Lessig, representing the group, to bolster Musk&#8217;s case.
In a post on his social media platform X, Musk acknowledged the amicus brief filed by former OpenAI staffers.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Indeed <a href="https://t.co/LdC869Ky7N">https://t.co/LdC869Ky7N</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1910861637264822608?ref_src=twsrc%5Etfw">April 12, 2025</a></blockquote>
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The request aims to support <a href="https://www.benzinga.com/tech/25/03/44066117/elon-musk-battles-openai-over-move-to-for-profit-model-and-experts-are-pushing-back">Musk&#8217;s efforts to prevent OpenAI</a>, which he co-founded in 2015 as a nonprofit, from becoming a for-profit entity. The filing claims that such a change would violate the organization&#8217;s mission.
See Also: <a href="https://www.benzinga.com/25/04/44776810/we-just-have-to-hope-we-have-enough-time-to-recover-retirees-reeling-after-market-drops-hit-their-nest-eggs">&#8216;We Just Have To Hope We Have Enough Time To Recover&#8217;: Retirees Reeling After Market Drops Hit Their Nest Eggs</a>
OpenAI has commercialized products like ChatGPT and is overseen by a nonprofit parent. The company has faced challenges in restructuring due to Musk&#8217;s opposition, who recently<a href="https://www.benzinga.com/25/02/43609104/elon-musk-co-founded-openai-now-hes-bidding-974b-to-take-back-the-company"> offered $97.4 billion to acquire OpenAI</a>, an offer that was rejected.
OpenAI&#8217;s hybrid structure includes a capped-profit limited partnership, with the original nonprofit as the controlling shareholder. The filing argues that the shift to a for-profit model breaches the trust of employees and stakeholders.
The case has seen various developments, including a federal court blocking Musk&#8217;s attempt to stop the transition and<a href="https://benzinga.com/25/04/44726544/elon-musk-faces-legal-backlash-as-sam-altman-led-openai-countersues-over-harassing-tactics-and-bid-for-control-musk-has-tried-every-tool-available-to-harm-openai"> OpenAI filing a countersuit against Musk</a> earlier this week.
Subscribe to the <a href="https://bztechtrends.beehiiv.com/subscribe">Benzinga Tech Trends newsletter</a> to get all the latest tech developments delivered to your inbox.
Why It Matters: The legal battle between Musk and OpenAI has been escalating. In March 2025,<a href="https://benzinga.com/tech/25/03/44066117/elon-musk-battles-openai-over-move-to-for-profit-model-and-experts-are-pushing-back"> Musk opposed OpenAI&#8217;s move</a> to a for-profit model, arguing it could impact the control of AI technology.
OpenAI&#8217;s CEO, Sam Altman, aims to separate the revenue-generating business from its nonprofit parent to attract investments and provide returns to shareholders.
Earlier, in February 2025, Musk&#8217;s $97.4 billion takeover bid was reportedly not received by OpenAI&#8217;s board, which Altman described as &#8220;another one of his tactics.&#8221;
OpenAI, in its countersuit, accused Musk of using harassment tactics to disrupt its growth plans, including his unsolicited bid for control.
Check out more of Benzinga's Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech">following this link</a>.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Ex-OpenAI Staffers Support Elon Musk's Legal Battle Against Sam Altman-Led AI Startup's For-Profit Shift

Investor and TV personality Kevin O&#8217;Leary has voiced his disapproval of President Donald Trump&#8216;s tariff strategy against China, citing potential economic and political repercussions.
What Happened: O&#8217;Leary has openly criticized President Trump&#8217;s approach to the ongoing tariff war with China. In a recent post on X, O&#8217;Leary expressed concerns over the economic and political implications of the tariffs.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Let's be honest—this tariff war? It's Trump going all-in. He's got 18 months before the midterms, and if this gamble doesn't pay off, it's not just the markets that crash—it's his political capital. China can't hang in this forever. Time for leadership, not chaos. Sit down. Make… <a href="https://t.co/uh6EEAB6LT">pic.twitter.com/uh6EEAB6LT</a>
&mdash; Kevin O&#39;Leary aka Mr. Wonderful (@kevinolearytv) <a href="https://twitter.com/kevinolearytv/status/1910759473049727267?ref_src=twsrc%5Etfw">April 11, 2025</a></blockquote>
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According to O&#8217;Leary, Trump is taking a significant risk with the tariff strategy, which could have severe consequences for both the markets and his political standing if it fails. With 18 months until the midterms, O&#8217;Leary suggests that the stakes are high for Trump.
See Also:&nbsp;<a href="https://benzinga.com/markets/equities/25/04/44728524/adam-schiff-and-elizabeth-warren-call-for-investigation-into-possible-insider-trading-by-trump-allies-as-markets-surge-after-90-day-tariff-pause-it-sure-looks-like-corruption" target="_blank" rel="noreferrer noopener">Adam Schiff And Elizabeth Warren Call For Investigation Into Possible Insider Trading By Trump Allies As Markets Surge After 90-Day Tariff Pause</a>
O&#8217;Leary highlighted the impact of the <a href="https://www.benzinga.com/25/04/44720006/markets-take-off-as-trump-announces-90-day-tariff-pause-for-non-retaliating-nations-slaps-china-with-125-duty">125% tariffs on China&#8217;s</a> economy, noting that the country&#8217;s factories are struggling with nowhere to ship their goods. He emphasized the potential unrest among unemployed workers in China, despite President&nbsp;Xi Jinping&nbsp;not facing electoral pressure.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Let's cut the fluff—this is economic warfare. China's got factories with nowhere to ship, and 125% tariffs are choking them out. You think unemployed workers stay quiet? Xi's not on a ballot, but he's playing with fire. The U.S. is the buyer of last resort—and when that stops,… <a href="https://t.co/BVpcdjGN7u">pic.twitter.com/BVpcdjGN7u</a>
&mdash; Kevin O&#39;Leary aka Mr. Wonderful (@kevinolearytv) <a href="https://twitter.com/kevinolearytv/status/1910738079549169996?ref_src=twsrc%5Etfw">April 11, 2025</a></blockquote>
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He further pointed out that the U.S. serves as the &#8220;buyer of last resort,&#8221; and if American demand halts, it could lead to broader economic consequences.
O&#8217;Leary urged for a resolution, stating that the current situation is unsustainable and advocating for leadership and negotiation to end the economic standoff.
Why It Matters: O&#8217;Leary&nbsp;has been vocal about his views on tariffs and market volatility. Recently, he called for a&nbsp;<a href="https://www.benzinga.com/markets/equities/25/04/44711364/kevin-oleary-calls-for-hefty-400-us-tariffs-on-china-they-dont-play-by-the-rules">400% tariff on China</a>, arguing that the existing tariffs are insufficient.
He criticized China&#8217;s trade practices, claiming they don&#8217;t adhere to international rules and often engage in technology theft.
O&#8217;Leary&#8217;s concerns about volatility are well-documented. He has stated, &#8220;I hate volatility and I don&#8217;t like it when the market corrects,&#8221; but acknowledges that market corrections are a regular occurrence, typically ranging from 15% to 20% over time.
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Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Global

Kevin O'Leary Says Xi Jinping Is 'Playing With Fire:' 'If This Gamble Doesn't Pay Off…'

Ray Dalio, founder of Bridgewater Associates, expressed concerns about a potential recession despite President Donald Trump <a href="https://www.benzinga.com/25/04/44729384/trump-pauses-tariffs-after-yields-surge-bond-vigilantes-hit-another-homerun-experts-point-to-bond-market-panic-for-reversal">pausing reciprocal tariffs</a>.
What Happened: According to <a href="https://fortune.com/2025/04/11/ray-dalio-recession-changing-monetary-order/">a</a> report by Fortune, Dalio shared his views on Bloomberg Television on Thursday, following Trump&#8217;s announcement of a 90-day grace period for trade negotiations.
Trump&#8217;s decision to halt reciprocal tariffs did not alleviate worries, as he imposed a 10% blanket tax on other nations and duties on China.
Dalio highlighted the likelihood of a recession, defined as two consecutive quarters of negative GDP growth, but emphasized broader concerns about financial, political, and geopolitical dynamics.
As tensions between the U.S. and China escalate, with<a href="https://www.benzinga.com/25/04/44720006/markets-take-off-as-trump-announces-90-day-tariff-pause-for-non-retaliating-nations-slaps-china-with-125-duty"> Trump imposing a 145% tariff</a> and<a href="https://www.benzinga.com/markets/25/04/44756353/xi-jinping-says-there-are-no-winners-in-tariff-war-as-china-slaps-125-tariffs-on-us-goods-urges-trump-to-immediately-correct-wrongdoings"> China retaliating with a 125% tariff</a>, the trade war has intensified.
Moody&#8217;s Chief Economist, Mark Zandi, told Fortune that U.S.-China trade could nearly halt, increasing recession risks.
See Also: <a href="https://benzinga.com/news/25/04/44728509/dave-ramsey-says-putting-a-lid-on-government-spending-could-spur-quick-recovery-but-wants-america-to-get-an-">Dave Ramsey Says Putting A Lid On Government Spending Could Spur Quick Recovery, But Wants America To Get An Extra Job</a>
Dalio noted the ongoing bond market sell-off is a consequence of Trump&#8217;s tariffs, as investors abandon bonds and stocks.
Analysts from Bank of America suggested the bond market turmoil prompted Trump&#8217;s tariff pause, particularly concerning the 10-year Treasury. Despite some stock market relief, bond market distress persists, with a slowdown appearing more probable than a recession.
Why It Matters: The concerns raised by Ray Dalio come in the wake of his previous warnings about the economic impact of escalating tariffs.
Earlier,<a href="https://www.benzinga.com/markets/25/04/44728417/ray-dalio-praises-trumps-tariff-reversal-urges-us-china-deal-and-deficit-reduction"> Dalio praised Trump&#8217;s decision</a> to pause tariffs, except on China, calling it a &#8220;better way&#8221; to handle trade imbalances. He urged a U.S.-China trade deal and deficit reduction, suggesting that China could appreciate the renminbi against the U.S. dollar by selling dollar assets and easing fiscal policies.
Dalio has also cautioned about &#8220;abrupt, unconventional changes&#8221; in markets due to the &#8220;tariff machine,&#8221;<a href="https://www.benzinga.com/general/market-summary/25/04/44623855/ray-dalio-warns-of-abrupt-unconventional-changes-in-markets-heres-how-the-tariff-machine-affects-currency-monetary-and-fiscal-policies"> which affects currency, monetary, and fiscal policies</a>. He emphasized that while the first-order effects of tariffs are visible, the second-order effects could lead to significant market volatility.
In a broader context,<a href="https://www.benzinga.com/25/03/44511006/ray-dalio-sees-history-repeating-warns-of-debt-crisis-trump-era-politics-and-a-shifting-global-order"> Dalio has warned of a looming debt crisis</a> and a shifting global order amid Trump&#8217;s hardline trade policies. He has expressed concerns about the potential for a debt crisis and the implications of changing global political dynamics.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Economics

Ray Dalio, Who Predicted The 2008 Financial Crisis, Warns About Recession As US-China Tariff War Escalates

Despite <a href="https://www.benzinga.com/markets/25/04/44756353/xi-jinping-says-there-are-no-winners-in-tariff-war-as-china-slaps-125-tariffs-on-us-goods-urges-trump-to-immediately-correct-wrongdoings">growing concerns about renewed trade</a> tensions between Washington and Beijing, one analyst says the drama may be more performative than policy-driven.
What Happened: Marko Papic, chief strategist at BCA Research, downplayed the long-term impact of escalating U.S.-China tariff rhetoric, suggesting that the latest threats may be largely symbolic and unlikely to result in sustained economic disruption.
"As the kids would say — just for the LOLz," Papic said in an interview with CNBC on Friday, referencing what he sees as political posturing from both sides.
His comments come after China's finance ministry accused the U.S. of "bullying" and warned that aggressive tariff policies could make America look like a "joke" on the global stage.
Papic acknowledged that markets are reacting to fears of a policy-induced slowdown, particularly in sectors like commodities, but said those concerns may be exaggerated. "It's not like this is a great financial crisis," he noted.
He's also not convinced that these trade policies— tariffs and bringing manufacturing back—will actually work or happen as planned. "When was the last time any U.S. policymaker actually referred to them [tariffs] as revenue raisers?"
See Also: <a href="https://www.benzinga.com/25/04/44667862/oil-crashes-to-60-per-barrel-as-recession-fears-grow" target="_blank" rel="noreferrer noopener">Oil Crashes To $60 Per Barrel As Global Recession Fears Grow&nbsp;</a>
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Why It Matters: On Friday, Xi Jinping sharply raised tariffs on U.S. goods from 84% to a record 125%. This came after President Donald Trump hiked tariffs on Thursday, pushing the cost of Chinese imports to at least 145%. This jump results from a new 125% retaliatory tariff layered on top of <a href="https://www.benzinga.com/25/04/44757476/asia-mixed-europe-slides-as-china-tariff-hike-escalates-tensions-gold-soars-dollar-hits-two-year-low-global-markets-today-while-us-slept">existing 20% duties</a>.
While these measures respond to Trump's tariffs, China itself isn't shielded from the fallout. Goldman Sachs has lowered its <a href="https://www.benzinga.com/government/regulations/25/04/44740040/chinas-growth-outlook-dims-as-trumps-125-tariffs-put-millions-of-jobs-at-risk-goldman-warns">growth forecast for the country</a> and warned that up to 20 million export-related jobs could be at risk. The investment bank, however, attributed this outlook not only to U.S. tariffs but also to broader global economic uncertainty.
A <a href="https://www.benzinga.com/news/global/25/04/44762211/10-companies-with-exposure-to-trumps-china-tariff-war-ford-tesla-apple-disney-and-more">Strategy Risks report has identified</a> major U.S. public companies most overexposed to China, evaluating them across categories like Business Fundamentals, Partnerships and Politics, Regional Issues, Supply Chain, and Capacity.
Ford Motor Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) topped the list, scoring high across all areas, especially in Regional Issues tied to human rights concerns and Supply Chain vulnerabilities.
Carrier Global Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CARR#NYSE">CARR</a>) leads China's commercial HVAC market with extensive operations, while Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) relies <a href="https://www.benzinga.com/25/04/44706383/apple-airlifts-iphones-from-india-and-china-in-72-hour-race-to-beat-trumps-tariffs-as-stock-sinks-amid-us-china-trade-panic">heavily on Chinese manufacturing</a> for most of its products, placing it squarely in the crosshairs of ongoing trade tensions.
Tesla Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) U.S. energy division risks soaring costs from tariffs on Chinese battery cells, potentially doubling Powerwall and Megapack production expenses. Coca-Cola (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KO#NYSE">KO</a>) is facing cost pressures from tariffs on key ingredients like sucralose, which may impact profitability.
Cummins, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMI#NYSE">CMI</a>) maintains deep ties to China through joint ventures and clean energy initiatives. RTX Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RTX#NYSE">RTX</a>), with thousands of Chinese suppliers, has admitted that decoupling is unfeasible.
Honeywell (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HON#NASDAQ">HON</a>) has begun adding surcharges due to tariff-related supply disruptions. Walt Disney Co.'s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>) CEO has raised alarms about the broader impact of tariffs, and Caterpillar, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAT#NYSE">CAT</a>) is confronting shrinking competitiveness as Chinese buyers turn to alternative suppliers.
Ford boasts a solid growth score of 78.49%, according to Benzinga Edge Stock Rankings. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Click here to see how it stacks up against</a> Apple, Tesla, Disney, and other major companies.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/quote/F"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/11231023/Screenshot-2025-04-12-at-8.40.16%E2%80%AFAM.png" alt="" class="wp-image-868750" /></a></figure>
Read Next:
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<li><a href="https://www.benzinga.com/25/04/44695907/elon-musk-calls-trump-trade-advisor-peter-navarro-dumber-than-sack-of-bricks-defends-tesla-as-the-most-american-made-cars" target="_blank" rel="noreferrer noopener">Elon Musk Calls Trump Trade Advisor Peter Navarro ‘Dumber Than Sack Of Bricks,' Defends Tesla As ‘Most American-Made Cars'&nbsp;</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.
Photo courtesy: Shutterstock

Government

Media

CARR

Trump And Xi Jinping's Tariff Threats May Be 'Just For The LOLz,' Says Analyst: 'It's Not Like This Is A Great Financial Crisis'

General Motors Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) has decided to pause the production of its electric commercial vans at its Ontario plant due to sluggish sales.
What Happened: The production halt is not linked to recent auto tariffs, according to a report by Reuters. GM has said that it is making adjustments to balance inventory with demand.
This move will temporarily affect 1,200 workers at the CAMI Assembly plant, as confirmed by the union Unifor.
The layoffs will commence on April 14, with workers expected to return in May for limited production.
Production is set to resume in October 2025 after retooling for the 2026 model. However, the plant will operate on a single shift, resulting in indefinite layoffs for nearly 500 workers, according to Unifor.
See Also: <a href="https://benzinga.com/news/25/04/44757196/bernie-sanders-warns-the-job-you-have-today-aint-going-to-be-here-in-10-or-15-years-as-ai-and-robotics-threa">Bernie Sanders Warns: &#8216;The Job You Have Today Ain&#8217;t Going To Be Here In 10 Or 15 Years,&#8217; As AI And Robotics Threaten US Workforce</a>
Lana Payne, Unifor National President, described the decision as a &#8220;crushing blow&#8221; to families dependent on the plant. Canadian Prime Minister Mark Carney and Conservative leader Pierre Poilievre expressed their support for affected workers, emphasizing efforts to protect the auto sector.
Why It Matters: The decision by GM to halt production comes amid broader challenges in the automotive industry, including the impact of tariffs and fluctuating demand.
The Trump administration&#8217;s 25% tariffs on the auto sector could<a href="https://www.benzinga.com/25/04/44756759/new-research-shows-donald-trumps-25-tariffs-could-cost-auto-companies-108billion-report"> cost the industry over $108 billion</a>. Although these tariffs were not a direct factor in GM&#8217;s decision, they have contributed to an environment of uncertainty.
Additionally, a Goldman Sachs analysis highlights that both tariff issues and weaker consumer demand are<a href="https://www.benzinga.com/25/04/44746593/goldman-sachs-hits-the-brakes-auto-tariffs-slumping-demand-may-shake-up-ford-tesla-rivian-lear-visteon"> affecting U.S. auto sales</a> and global production forecasts.
Furthermore, <a href="https://benzinga.com/markets/equities/25/04/44642355/trumps-25-auto-tariffs-spark-stellantis-layoffs-gm-expansion-uaws-shawn-fain-calls-job-cuts-completely-unnecessary">recent layoffs</a> at Stellantis NV and GM&#8217;s own expansion plans reflect the varied responses by automakers to these economic pressures.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="957" height="141" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/11232908/GM.jpg" alt="" class="wp-image-868755" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/11232908/GM.jpg 957w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/11232908/GM-300x44.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/11232908/GM-768x113.jpg 768w" sizes="(max-width: 957px) 100vw, 957px" /></a></figure>
General Motors holds a momentum rating of 62.11% and a growth rating of 50.73%, according to<a href="https://www.benzinga.com/quote/gm"> Benzinga's Proprietary Edge Rankings</a>. The Benzinga Growth metric evaluates a stock&#8217;s historical earnings and revenue expansion across multiple timeframes, prioritizing both long-term trends and recent performance. For an in-depth report on more stocks and insights into growth opportunities,<a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"> sign up for Benzinga Edge.</a>
Check out more of Benzinga's Future Of Mobility coverage by<a href="https://www.benzinga.com/topic/mobility"> following this link.</a>
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

GM Halts Electric Van Production In Ontario Amid Sluggish Sales: 1,200 Employees Affected

On Friday, April 11, 2025, Cathie Wood-led Ark Invest executed notable trades, shedding shares in UiPath Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PATH#NYSE">PATH</a>), Prime Medicine Inc. (NGM: PRME), and Repare Therapeutics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RPTX#NASDAQ">RPTX</a>).
The PATH Trade
Ark Invest&#8217;s ARK Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKK#NYSE">ARKK</a>) fund sold 4,256 shares of UiPath Inc. Based on the closing price of $10.87 on the day of the trade, the total value of the transaction amounts to approximately $46,280.32.
UiPath&#8217;s stock saw a slight increase of 2.26% on the day.
The PRME Trade
Prime Medicine Inc. was another company that Ark Invest decided to reduce its stake in. The ARKK fund sold 83,510 shares of PRME. With the stock closing at $1.33 on the day of the trade, the value of the sold shares is around $111,068.30.
Interestingly, PRME&#8217;s stock experienced a significant surge of 13.68% on the trade day.
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The RPTX Trade
Ark Invest&#8217;s Ark Genomic Revolution ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKG#BATS">ARKG</a>) fund offloaded shares of Repare Therapeutics Inc. The fund sold 130,611 shares of RPTX. Given the closing price of $0.9 on the trade day, the total value of the transaction is approximately $117,549.90. The stock&#8217;s price remained unchanged on the day of the trade.
These trades come in the wake of <a href="https://www.benzinga.com/25/04/44753971/cathie-woods-thursday-plays-healthcare-ai-and-crypto-ark-scoops-up-tempus-ai-and-coinbase-stock-amid-trump-tariff-crash">Ark Invest&#8217;s previous transactions</a>, which featured prominent purchases of Tempus AI Inc and Coinbase Global Inc stocks amid a sharp market selloff triggered by economic uncertainty and a 145% China tariff announcement by the Trump administration.
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Equities

ARKG

ARKK

PATH

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Cathie Wood's Ark Invest Offloads UiPath, Prime Medicine, And Repare Therapeutics

For retirees like Paula, 68, from New Jersey, the recent market plunge brought more than just numbers on a screen — it reignited old fears about outliving savings. "I'm just kind of stunned, and with so much money in the market, we just sort of have to hope we have enough time to recover," Paula told <a href="https://www.nbcnews.com/business/business-news/retirees-stunned-market-turmoil-tariffs-shrinks-401ks-rcna199753">NBC News</a>. Like many Americans who rely on 401(k) investments for <a href="https://www.benzinga.com/personal-finance/25/02/43895999/making-over-100000-a-year-heres-how-big-your-retirement-nest-egg-should-be-in-your-40s-50s-and-60s-if-you-want-to-retire-rich">retirement income</a>, she's now grappling with uncertainty about what lies ahead.
Last week saw U.S. stock markets tumble in reaction to sweeping new tariffs introduced by President Donald Trump. On Friday, the S&amp;P 500 dropped 6%, Nasdaq sank 5.8%, and the Dow lost over 2,200 points — marking one of the steepest declines since the pandemic crash in 2020. Combined with Thursday's losses, the market saw its largest two-day drop in history, with $6.6 trillion in value wiped out.&nbsp;
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<h2 class="wp-block-heading">&#8216;I Can't Stay Retired If This Continues&#8217;</h2>
Victor Fettes, 54, retired a week before the downturn. He told NBC News he lost $58,000 in just two days. "If that continues, I can't stay retired," he said. For those like Fettes, the timing couldn't be worse. <a href="https://www.benzinga.com/personal-finance/25/03/44348164/why-millions-of-americans-are-tapping-their-401k-savings-early">Retirement plans</a> that felt solid just days earlier are now under review.
Financial planner Brian Duffy told <a href="https://www.youtube.com/watch?v=WHt-hmrMg4A">KOMO-TV News</a> in Seattle that emotional reactions are common when markets dip — especially for those close to retirement. "Generally, those who are most emotional are unsure if they are prepped for retirement," he said. "Do not make long-term decisions on short-term news."
<h2 class="wp-block-heading">The Impact of Tariffs on Your 401(k)</h2>
The value of a 401(k) is closely tied to the <a href="https://www.benzinga.com/general/market-summary/25/04/44660779/sp-500-dow-jones-on-course-to-mimic-rare-consecutive-losses-not-seen-since-the-great-depression-whats-driving-the-fear">performance of the stock market</a>. And when the market drops suddenly, so do retirement account balances. Treasury Secretary Scott Bessent told NBC's "Meet the Press" on Sunday that, "Americans who want to retire right now, Americans who have put away for years in their savings accounts, I think they don&#8217;t look at the day-to-day fluctuations of what&#8217;s happening. And you know, in fact, most Americans don&#8217;t have everything in the market."
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Bessent added that 401(k) plans often include a mix of stocks and bonds, like the popular "60/40" allocation — 60% stocks and 40% bonds.&nbsp;
While some in Washington suggest the downturn is temporary and that long-term investors shouldn't worry, many retirees don't have decades left to wait for a recovery.&nbsp;
<h2 class="wp-block-heading">Reevaluating Plans and Spending</h2>
Some Americans are hitting pause on their spending plans. Paula told NBC News that she and her partner are holding off on home renovations. Others are concerned about the impact on property values, particularly if they plan to sell. Mark Johnson, a 42-year veteran lobbyist from Washington, said the market turbulence made him question whether he should delay his upcoming retirement.
"What will this do to the value of my home which I plan to put on the market next month?" he asked KOMO News. Johnson had mapped out a post-retirement road trip in his RV to visit all 50 state capitals — but now wonders if he'll need to push back those plans.
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<h2 class="wp-block-heading">Expert Advice: Don't Panic, Rebalance Instead</h2>
Brad Clark, CEO of Solomon Financial, and other financial experts say the most important move right now is not to panic. Instead, this could be a good time to revisit your portfolio strategy.
"If you're near retirement, consider rebalancing — don't just go to cash," Clark told Time magazine. The common mantra of "sell high, buy low" still applies, but it's important to consult a financial advisor before making major changes.
Duffy said something similar, emphasizing that while recessions can feel long, they typically last 12 to 14 months. In contrast, bull markets can stretch out over several years. Keeping a long-term perspective is key — even if retirement is just around the corner.
For retirees and those nearing the milestone, the recent market volatility has created a wave of <a href="https://www.benzinga.com/personal-finance/25/03/44494260/dave-ramsey-reveals-how-to-rebound-from-financial-setbacks-if-youre-over-40-and-feeling-behind-its-not-too-late-but-youd-better-get-serious">financial unease</a>. Some are adjusting their plans, others are holding steady and hoping the market rebounds.
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'We Just Have To Hope We Have Enough Time To Recover': Retirees Reeling After Market Drops Hit Their Nest Eggs

<ul>
<li>CNN reports that casual dining chains are in crisis, as evidenced by a 0.9% drop in sales over 2024</li>
<li>One contributing factor to the decline is rising prices, which have gone up by 34% over the last five years</li>
<li>Meanwhile, fast-casual restaurants have seen a 0.6% increase in sales, and fast food restaurants have seen a 1% increase in sales</li>
</ul>
Casual dining chains, a staple of the American restaurant industry, are facing a crisis, according to <a href="https://www.cnn.com/2025/04/04/business/hooters-red-lobster-tgi-fridays/index.html">CNN</a>. Four well-known establishments—TGI Fridays, Red Lobster, Hooters and Buca di Beppo— have iled for bankruptcy in the last few months. And several others, like Applebee's, Denny's (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DENN#NASDAQ">DENN</a>), Outback Steakhouse, Bonefish Grill, Red Robin Gourmet Burger.(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RRGB#NASDAQ">RRGB</a>), and Cracker Barrel Old Country Store Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CBRL#NASDAQ">CBRL</a>), have seen a sharp drop in sales.&nbsp;
This downturn, CNN reports, is due to a number of factors, including hiking prices, shrinking incomes, and general mismanagement.
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Chains like Red Robin and TGI Fridays have long been favorites among lower and middle-income families who want a sit-down dinner without a several-hundred-dollar price tag. But as disposable incomes shrink and the threat of a recession increases, CNN says, these diners find themselves less willing to spring for a full meal out. Instead, they're opting to cook at home or visit fast food and fast casual chains like McDonald&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCD#NYSE">MCD</a>) and Chipotle Mexican Grill (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMG#NYSE">CMG</a>).&nbsp;
Data from the <a href="https://fred.stlouisfed.org/series/CUUR0000SEFV">US Bureau of Labor Statistics</a> also shows that restaurant prices have increased 34% since 2019, outpacing the overall growth of inflation. This has undoubtedly played a role in the 0.9% drop in sales at casual dining chains in 2024, that CNN reports, as well as the 0.6% and 1% increases at fast casual and fast food chains, respectively, where prices are already more affordable.
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But shrinking incomes and rising prices aren't the only reasons these dining institutions are struggling. Strategy mistakes and a reluctance to invest in location and service updates have also marred the chains' once-bright futures. For example, Hooters' racy atmosphere and reputation have become less appealing to diners over the few years, contributing to decreased sales. One of its prospective buyers recently told <a href="https://www.bloomberg.com/news/features/2025-03-27/hooters-bankruptcy-founders-to-welcome-families-end-bikini-nights?embedded-checkout=true">Bloomberg</a> it intends to give the establishment a family-friendly makeover. Only time will tell if the revamp will be enough or too little, too late.&nbsp;
Clarence Otis Jr., a former CEO of Darden Restaurants (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DRI#NYSE">DRI</a>), told CNN the struggling chains "got dated in terms of their menu offering, the look and feel of the restaurants, and how they reach consumers."&nbsp;
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While many chain restaurants are struggling, a few have managed to find the right recipe. Chili's, Olive Garden, and Texas Roadhouse (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TXRH#NASDAQ">TXRH</a>) are all seeing rising profits, thanks to their investments in labor and facilities and their dedication to keeping prices low, according to CNN.&nbsp;
Chili's, CNN says, has invested $400 million into their restaurants, simplifying the menu, adding more staff, and renovating existing locations. As a result, it's gone viral on social media apps like TikTok and has increased sales by 31% over the last quarter, its third consecutive quarter of double-digit sales growth.&nbsp;
"There's a widening gap between winners and losers in the casual dining category," and "brands that are investing in labor and the quality of guest experience are winning," Raymond James analyst Brian Voccaro told CNN.&nbsp;
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The End Of Casual Dining? Chain Restaurants Shutter By The Hundreds As Prices Increase By 34%

WIMI

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

PIIIW

PIII

South Korean AI hardware startup FuriosaAI has made waves in the global semiconductor industry after reportedly turning down an $800 million acquisition offer from Meta (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>).
The decision shows the startup's ambition to remain independent and compete directly in the rapidly evolving <a href="https://www.benzinga.com/markets/emerging-markets/25/03/44229408/alibaba-unveils-new-ai-chip-to-power-chinas-open-source-tech-push-challenge-us-chip-gian">AI chip</a> market dominated by NVIDIA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) and increasingly encroached on by tech giants like Alphabet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>, GOOG)) and Microsoft (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>).
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<h2 class="wp-block-heading">Meta's $800 Million Power Play Rejected</h2>
Meta initially called FuriosaAI after months of evaluating potential acquisition targets earlier this year. While Meta&#8217;s offer was around $300 million more than FuriosaAI's estimated market value, negotiations collapsed over differences of opinion about the company's future direction and post-acquisition structure, according to a report by<a href="https://www.mk.co.kr/news/it/11271852"> Maeil Business Newspaper.</a>
&#8220;Since October of last year, Meta had been looking at several AI semiconductor companies in the U.S. and Israel, and finally made FuriosaAI a viable acquisition target and negotiated it since the beginning of the year," an insider reportedly told <a href="https://www.mk.co.kr/en/it/11271852">Maeil Business Newspaper</a>.&nbsp;
<h2 class="wp-block-heading">Inside South Korea's AI Chip Trailblazer</h2>
FuriosaAI, founded in 2017 by CEO June Paik, specializes in designing AI inference chips for high-performance applications as a power-efficient alternative to power-hungry GPUs. The company has about 140 employees, with more than 90% of them working in the development department. The team also includes veterans from Qualcomm (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>), Samsung, and <a href="https://www.benzinga.com/25/04/44685818/nvidia-and-google-bet-big-on-quantum-ai-with-150m-investment-in-sandboxaq-raising-series-e-round-to-450-million">Google</a>.
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The startup's main product, RNGD (pronounced &#8220;Renegade&#8221;), is already getting serious hardware buzz. Launched at Hot Chips 2024, the RNGD chip is built on TSMC&#8217;s 5nm process and features dual HBM3 memory, achieving roughly twice the efficiency of traditional GPUs at just one-fourth of the power. In a world where energy-hungry AI models are growing fast, that's a pitch with global reach.
FuriosaAI has already found some notable partners, and production of RNGD is anticipated to start in the latter part of this year. According to <a href="https://www.mk.co.kr/news/it/11271852">Maeil Business Newspaper</a>, LG AI Research and Saudi Aramco are two of the companies that have signed up to test RNGD's capabilities.
FuriosaAI has raised about $52 million in funding by now, allowing it to develop the exceptional chips and laying the groundwork in place for mass production. While this figure is nothing compared to the tens of billions raised by some of the Silicon Valley dynamos, FuriosaAI&#8217;s recent moves have cemented its place on the map.
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<h2 class="wp-block-heading">Independent in a Chip War Era</h2>
The startup's determination to remain independent could signal bigger changes in the AI hardware ecosystem. Like the other hyperscalers, Meta is trying to reduce dependence on Nvidia's dominant chips by building or buying alternative solutions. But with specialized AI inference hardware in rising demand, startups such as FuriosaAI are increasingly unwilling to give up autonomy since they&#8217;re powered by next-generation innovation and deep technical know-how.
&#8220;Nvidia's dominance cannot last forever. There is a strong push to establish an alternative semiconductor ecosystem," CEO Paik said in an interview with <a href="https://www.kedglobal.com/mergers-acquisitions/newsView/ked202502120005">The Korea Economic Daily</a> in October. &#8220;Nvidia&#8217;s AI accelerators such as the H100 graphic processing units, sought after by companies, are in short supply and too expensive.&#8221;
FuriosaAI's decision to remain solo could turn out to be prescient. While Meta and other players are scrambling to build out vertically integrated AI stacks, the startup is going its own way, potentially redefining what it means to be a leader in AI hardware post-GPU.
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FuriosaAI Turns Down Meta's $800M Bid To Go Rogue With RNGD, As AI Chip War Between Nvidia, Google, And Meta Heats Up

For many older Americans, <a href="https://www.benzinga.com/government/regulations/25/04/44678599/millions-of-americans-panic-after-receiving-erroneous-social-security-suspension-notices-due-to-system-glitch-report">Social Security</a> is more than just a monthly benefit — it's a financial lifeline. But recent government changes and comments from political leaders are making some seniors feel uneasy about the future of the program.
<h2 class="wp-block-heading">Concerns Sparked by Government Reorganization</h2>
At the center of this growing anxiety is a newly formed federal agency: the Department of Government Efficiency. Created through an executive order under the <a href="https://www.benzinga.com/personal-finance/25/04/44697671/trump-administrations-push-to-access-social-security-data-faces-major-setback-as-court-dismisses-appeal">Trump administration</a>, DOGE has been tasked with modernizing government systems and rooting out inefficiency and fraud. But in doing so, it has made waves by cutting thousands of federal jobs and reorganizing how certain agencies function — including the Social Security Administration, which serves nearly 73 million Americans each month.
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According to <a href="https://edition.cnn.com/2025/04/04/politics/video/trump-social-security-doge-digvid">CNN</a>, DOGE's overhaul of the SSA has left many seniors, especially those relying solely on benefits, feeling uncertain. At a senior center in Rockland County, New York, CNN&nbsp; spoke with seniors who expressed their fear that changes could lead to interruptions in their checks.
"I need Social Security — I can't manage without it," Deanna Nichols told CNN. "When I hear one of our politicians say ‘we&#8217;re not gonna touch medicare, we&#8217;re not gonna touch medicaid or social security,' I don't believe them."
<h2 class="wp-block-heading">Reactions to Leadership Comments</h2>
Although there have been no interruptions to benefits so far, some comments from officials have only added fuel to the fire. Commerce Secretary <a href="https://www.benzinga.com/personal-finance/25/03/44495568/those-who-scream-are-the-ones-stealing-commerce-secretary-says-only-fraudsters-will-complain-about-missed-social-security-checks">Howard Lutnick</a> recently made waves during an appearance on the "All-In Podcast."&nbsp;
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"Let's say Social Security didn't send out their checks this month," he said. "My mother-in-law, who's 94, she wouldn't call and complain. She just wouldn&#8217;t. She&#8217;d think something got messed up, and she&#8217;ll get it next month. A fraudster always makes the loudest noise, screaming, yelling, and complaining."
That statement didn't sit well with many of the seniors who heard it. Milagros Velazquez, laughed and responded, "I'm a fraud. I'm a fraud cause I want what's due to me." Michael Gioeni, pointed out that many retirees live month to month and can't afford any delays.
<h2 class="wp-block-heading">Is There Real Risk to Social Security Benefits?</h2>
So far, no actual benefit cuts have taken place, and the Trump administration has stated it does not intend to reduce Social Security. However, The Senior Citizens League, or TSCL, warns that DOGE's sweeping access to federal data systems does raise valid questions.&nbsp;
TSCL Chairman Edward Cates <a href="https://seniorsleague.org/should-you-be-worried-about-doge-and-social-security/">said</a> that DOGE, though aimed at increasing efficiency, should not have direct access to individuals' personal Social Security data without clear, legal justification.
While DOGE is not authorized to delete benefits or directly alter Social Security accounts, seniors are encouraged to stay informed and cautious. Errors or system changes — especially in a brand-new agency — can still cause problems, even unintentionally.
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<h2 class="wp-block-heading">What Seniors Can Do to Stay Protected</h2>
If you're concerned about changes to Social Security or the security of your personal data, TSCL recommends a few important steps:
<ol>
<li>Know your rights under privacy laws, such as the <a href="https://bja.ojp.gov/program/it/privacy-civil-liberties/authorities/statutes/1279#:~:text=The%20Privacy%20Act%20%E2%80%9Cprotects%20certain,%2C%20social%20security%20number)%E2%80%A6.">Privacy Act of 1974</a>.</li>
<li>Monitor your benefit statements and report anything unusual.</li>
<li>Use official websites when checking on benefits or contacting agencies.</li>
<li>Enable strong passwords and two-factor authentication on any online accounts.</li>
<li>Reach out to trusted individuals for help navigating government services.</li>
</ol>
<h2 class="wp-block-heading">A Need for Reassurance</h2>
Seniors who've paid into Social Security for decades want to know that what they've earned is safe. As Catherine Baris, another Rockland County senior, told CNN: "We worked for that money&#8230; You want to feel that you can pay your bills, that you can eat. These are our golden years. I don't see it."
For now, while <a href="https://www.benzinga.com/personal-finance/25/04/44682363/aprils-social-security-changes-how-new-rules-could-affect-your-check">Social Security checks</a> are still arriving on time, the broader conversation about how federal efficiency efforts may impact essential programs is far from over.
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