Dernières nouvelles pour EVgo (NASDAQ:EVGO) Stock

EVgo

EVgo owns and operates a public direct current fast-charging network in the US. Its network of charging stations provides electric vehicle charging infrastructure to consumers and businesses. The network is capable of charging all EV models and meets all charging standards currently available in the US. EVgo partners with national and regional chains of grocery stores, automotive original equipment manufacturers, hotels, shopping centers, gas stations, parking lot operators, local governments, and independent property owners to locate and deploy its EV charging infrastructure.

EVgo Inc

EVgo Inc. - Warrants, each whole warrant exercisable for one share of Class A Common Stock at an exercise price of $11.50

"The preclinical data presented at ACR Convergence underscore the exceptional potential of our targeted protein degradation strategy compared to kinase inhibition for both BTK and IRAK4, which are critical targets in inflammatory and autoimmune diseases, and support continued advancement of these drug candidates into clinical studies," said Arthur T. Sands, M.D., Ph.D., president and chief executive officer of Nurix. "These programs showcase the capability of Nurix's DELigase platform to generate potent best-in-class degrader drug candidates with the potential to deliver superior efficacy in several inflammatory diseases."

News

NRIX

Reported Sunday, Nurix Therapeutics Showcased Preclinical Data On NX-5948 And GS-6791 From Autoimmune And Inflammatory Disease Programs At ACR Convergence 2024

<ul>
<li>ELAHERE is the first and only novel therapy approved in the European Union specifically for patients with folate receptor-alpha (FRα) positive, platinum-resistant ovarian cancer</li>
<li>ELAHERE represents the first treatment to demonstrate an overall survival benefit in a Phase 3 trial in platinum-resistant ovarian cancer compared with chemotherapy</li>
<li>VENTANA FOLR1 (FOLR1-2.1)&nbsp;RxDx Assay, the companion diagnostic to identify ovarian cancer patients eligible for ELAHERE, also receives CE Mark</li>
</ul>

ABBV

AbbVie Secures European Commission Approval For ELAHERE, First Novel Therapy For Platinum-Resistant Ovarian Cancer

<ul>
<li>The VENTANA FOLR1 (FOLR1-2.1) RxDx Assay detects the folate receptor 1 protein (FOLR1 or FRɑ), which is over-expressed in most ovarian cancers.</li>
<li>The test identifies ovarian cancer patients eligible for targeted treatment with ELAHERE. &nbsp;</li>
<li>This certification follows the unprecedented decision by regulators to grant an early exemption approval for the test in Germany and Austria earlier this year.</li>
</ul>

RHHBF

RHHBY

Roche Secures CE Mark For VENTANA FOLR1 RxDx Assay, The First IHC Diagnostic For Identifying Epithelial Ovarian Cancer Patients Eligible For ELAHERE

<ul>
<li>Revere Medical Enters into Agreement to Acquire CareMax's Management Services Organization</li>
<li>Agreement in Principle Reached with "Stalking Horse" for Core Centers' Assets</li>
<li>Sale Transactions to be Implemented Through an Expedited Prearranged Chapter 11 Plan Supported by 100% of CareMax's Secured Lenders</li>
<li>CareMax Secures $30.5 Million in Debtor in Possession Financing to Support Operations and Continuing Provision of Healthcare Services Throughout Restructuring Process</li>
</ul>

CMAX

Reported Sunday, CareMax Enters Prearranged Chapter 11, Reaches Deal To Sell MSO And Core Centers' Assets, Secures $30.5M DIP Financing

Reported Sunday, Apollo Opens Seoul Office Amid APAC Expansion, Taps Samsung Securities Veteran Jay Hyun Lee As Head Of Korea

Alibaba intends to use the net proceeds from the offering of the Notes for general corporate purposes, including repayment of offshore debt and share repurchases.

BABA

Reported Sunday, Alibaba Announces Dual Currency Senior Unsecured Notes Offering, Targeting Capital Raise For Debt Repayment And Strategic Share Buybacks

In collaboration with Toronto Metropolitan University, the Government of Canada will invest $3.9M CAD in the Malaysia Cybersecurity Center of Excellence to strengthen cybersecurity partnerships and expertise in the region through skills training opportunities, including for women

Reported Sunday, Blackberry Partners With Canadian Government And TMU To Launch Cybersecurity Training Initiative In Southeast Asia With C$3.9M Investment

This milestone is further celebrated by the anticipated opening of twelve additional Four Points Flex by Sheraton properties across Japan this year, which will also mark the company's entry to key cities such as Morioka and Kanazawa. In collaboration with global investment firm KKR, this conversion-friendly expansion is expected to see a total of 14 properties join the brand in Japan through early 2025, adding over 3,600 rooms to Marriott's growing portfolio across prominent destinations including Hakodate, Utsunomiya, Yokohama, Nagoya, Osaka, Kyoto, Kobe, and Hakata.

Marriott International Marks Milestone With 100th Property In Japan, Launching Four Points Flex By Sheraton In Asia Pacific

Accenture Partners With ETS To Launch Global Skills-Based Talent Management Platform

Renowned tech investor and Palantir Technologies&#8217; co-founder&nbsp;Peter Thiel&nbsp;has made a daring prediction about the potential impact of President-elect Donald Trump&#8217;s <a href="https://www.benzinga.com/trading-ideas/movers/24/11/41902202/trumps-china-hawks-rumored-for-top-roles-yuan-hits-3-month-low">60% tariff on Chinese goods</a>.
What Happened: On Thursday, during an interview with The Free Press, Thiel suggested that such a tariff would be &#8220;very, very bad&#8221; for <a href="https://www.benzinga.com/general/social-media/24/11/41912771/trump-presidency-magnificent-7-stock-impact-benzinga-readers-pick-tech-titan-at-most-risk-following-2024-election">Chinese companies</a> and China as a whole.
However, he believes the impact on American consumers would be &#8220;mildly negative&#8221; as manufacturing would likely shift away from China.
According to Thiel, shifting manufacturing from China to Vietnam would significantly harm China, and have only a minor impact on American consumers. From a geopolitical perspective, he argued, this move would align closely with American strategic interests.
See Also:&nbsp;<a href="https://www.benzinga.com/etfs/24/11/42018463/trumps-post-election-rally-fades-dollar-surges-to-over-1-year-highs-powell-puts-december-interest-rate-cut-into-question-this-week-in-the-market?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump&#8217;s Post-Election Rally Fades, Dollar Surges To Over 1-Year Highs, Powell Puts December Interest Rate Cut Into Question: This Week In The Market</a>
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
<div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="Peter Thiel on the Triumph of the Counter-Elites" width="500" height="281" src="https://www.youtube.com/embed/wwJV_NuN43Y?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div>
</figure>
Why It Matters: Earlier this year, Chinese stocks <a href="https://www.benzinga.com/markets/asia/24/05/38782459/china-focused-etfs-have-become-political-footballs-in-us-as-investor-apprehension-leads-to-large-sca#google_vignette">experienced a notable rally</a>, pushing the SSE Composite Index in Shanghai to its highest point since September 2023.
However, Trump's proposed tariffs, which could reach as high as 60% on Chinese goods, along with additional import hikes on other nations, could disrupt these investments.
A day after Trump won, China-linked ETFs witnessed a sharp fall after rallying for nearly two months.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>China-linked ETFs</td>
<td>Share Price Drop On Nov. 6, 2024</td>
</tr>
<tr>
<td>KraneShares CSI China Internet ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KWEB#NYSE">KWEB</a>)</td>
<td>2.01%</td>
</tr>
<tr>
<td>iShares MSCI China ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MCHI#NASDAQ">MCHI</a>)</td>
<td>2.70%</td>
</tr>
<tr>
<td>iShares China Large-Cap ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FXI#NYSE">FXI</a>)</td>
<td>2.94%</td>
</tr>
</tbody>
</table>
</figure>
U.S.-listed Chinese stocks such as Alibaba Group Holding (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>), JD.com (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JD#NASDAQ">JD</a>), Baidu (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIDU#NASDAQ">BIDU</a>), NIO Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NIO#NYSE">NIO</a>), Li Auto Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LI#NASDAQ">LI</a>), and XPeng Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPEV#NYSE">XPEV</a>) also <a href="https://www.benzinga.com/government/24/11/41773691/us-listed-chinese-stocks-like-alibaba-jd-nio-fall-after-trumps-win-whats-going-on">saw a decline in trading</a> following Trump&#8217;s win.
The imposition of such tariffs could strain China's economic growth, negatively impacting the performance of <a href="https://www.benzinga.com/general/social-media/24/11/41912771/trump-presidency-magnificent-7-stock-impact-benzinga-readers-pick-tech-titan-at-most-risk-following-2024-election">China-focused ETFs</a>, particularly those tied to the tech sector and large-cap companies, making them less attractive to investors.
Despite the immediate economic challenges that such a tariff would pose, some experts believe that China may view Trump's return to the White House as <a href="https://www.benzinga.com/news/global/24/11/41870809/china-may-benefit-from-trumps-return-to-white-house-despite-his-tariff-plans-says-expert-short-term-pain-but-potentially-long-term-strategic-gain">an opportunity for strategic advantage</a>.
Earlier this week, Chinese President Xi Jinping also expressed China's willingness to <a href="https://www.benzinga.com/24/11/42025284/xi-jinping-tells-joe-biden-china-is-ready-to-work-with-trump-as-tariff-threat-looms">collaborate with the U.S. government</a>, regardless of the administration in power.
Image via Wikimedia
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/24/11/41998910/mohamed-el-erian-criticizes-fed-chair-powells-interview-performance-says-responses-left-many-perplexed?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mohamed El-Erian Criticizes Fed Chair Powell&#8217;s Interview Performance: &#8216;He Struggled With Some Of The Smart Questions&#8217;</a></li>
</ul>
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Politics

Economics

Markets

BIDU

KWEB

MCHI

XPEV

Peter Thiel Says Trump's 60% China Tariff Would Be 'Very, Very Bad' For Beijing, Here's What's At Stake

Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) is trading over 5% on Robinhood&#8217;s overnight trading service after a report on Sunday, suggested that the upcoming regulatory framework might ease mandates for self-driving vehicles. 
What Happened: The transition team of President-elect Donald Trump has told advisors that it aims to make a framework for fully self-driving vehicles a priority for the Transportation Department, <a href="https://www.bloomberg.com/news/articles/2024-11-17/trump-team-said-to-want-to-ease-us-rules-for-self-driving-cars">reported</a> Bloomberg, citing people familiar with the matter. 
Tesla CEO Elon Musk recently secured a position to lead the newly created Department of Government Efficiency (DOGE) in the Trump administration, supported federal rules for autonomous vehicles in Tesla&#8217;s third-quarter earnings call, saying he would use any role to push the government to allow autonomous vehicles to be used nationwide. 
National Highway Traffic Safety Administration allows automakers to deploy only 2,500 autonomous vehicles per year, while efforts to increase this number have repeatedly failed. 
See Also: <a href="https://www.benzinga.com/24/11/42028342/blackwell-backfires-nvidias-ai-chips-struggle-with-server-overheating-impacting-meta-microsoft-and-musks-xai-data-centers">Nvidia&#8217;s Blackwell Chips Are Extra Toasty, Server Overheating Issues Impact Meta, Microsoft And Elon Musk&#8217;s xAI</a>
Why It Matters: In October, Musk unveiled Tesla&#8217;s long-awaited robotaxi, which aims to mass produce &#8216;Cybercabs&#8217; by 2026. Investors and market analysts are considering robotaxi&#8217;s success as a major factor for the company&#8217;s valuation, while some investors remain skeptical about <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41444334/tesla-robotaxi-reveal-falls-flat-amid-lack-of-clarity-shifting-focus-back-on-elon-m">robotaxi&#8217;s success in regulatory approval</a>. 
In October, ARK Investment Management said that Tesla&#8217;s driverless ride-hailing plans could unlock $11 trillion in revenue potential, exceeding the total addressable market <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41593922/cathie-woods-ark-invest-sees-tesla-unlocking-11-trillion-revenue-potential-with-rob">that ride-hailing companies</a> Uber Technologies Inc. and LYFT Inc. are targeting.
The Future Fund&nbsp;Managing Partner&nbsp;Gary Black has repeatedly voiced skepticism about&nbsp;Tesla maintaining a monopoly in the unsupervised autonomy market, citing competition from Alphabet Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>)(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>)-backed Waymo, Baidu (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIDU#NASDAQ">BIDU</a>) and Mobileye Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MBLY#NASDAQ">MBLY</a>) who has already received approval to <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40333845/gary-black-highlights-skepticism-over-teslas-autonomy-ambitions-amid-competition-fr">deploy their autonomous vehicles</a>.
Price Action: Tesla is trading 5.69% higher at $339 on Robinhood&#8217;s overnight trading service. The stock closed at $320.72 in a regular trading session on Friday, gaining 3.07% for the day. In after-hours trading, the stock edged up 0.0062%. Year to date, Tesla's stock has risen by 29.10%, according to&nbsp;<a href="https://pro.benzinga.com/dashboard" target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/general/social-media/24/11/42022443/ibm-disney-and-other-large-advertisers-return-to-elon-musks-x-after-a-year-long-boycott-we-super-appreciate" target="_blank" rel="noreferrer noopener">IBM, Disney And Other Large Advertisers Return To Elon Musk's X After A Year-Long Boycott: ‘We Super Appreciate'</a></li>
</ul>
Image Via Shutterstock
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Equities

GOOG

GOOGL

MBLY

TSLA

Tesla Soars Over 5% In Overnight Trading As Trump Administration Reportedly Seeks To Ease FSD Norms

Gita Gopinath, Deputy Managing Director of the International Monetary Fund, expressed concern over the increasing energy consumption and carbon footprint of cryptocurrency mining and AI data centers, expected to worsen in the next few years.
What Happened: In an X post on Sunday, Gopinath stated, citing IMF data, that the share of cryptocurrency mining and data centers in global electricity could rise to 3.5% by 2027 in a base case scenario, from 2% in 2022. This would equate to the current consumption of Japan, the world&#8217;s fifth-largest electricity user.
In the high-case scenario, the share could expand to nearly 6%, while the low-case scenario would see a slight increase to 2.2%.
<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">Crypto mining and data centers together accounted for 2 percent of world electricity demand in 2022. And that share is likely to climb to 3.5 percent in three years. That would be equivalent to current consumption of Japan, the world's fifth largest electricity user. Read more… <a href="https://t.co/yOfHoO32dA">pic.twitter.com/yOfHoO32dA</a>
&mdash; Gita Gopinath (@GitaGopinath) <a href="https://twitter.com/GitaGopinath/status/1858210326204100884?ref_src=twsrc%5Etfw">November 17, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Interestingly, cryptocurrency mining activity&#8217;s share in global CO₂ emissions was projected to decline in 2027, primarily driven by the reduction in mining rewards <a href="https://www.benzinga.com/money/what-is-bitcoin-halving">due to halving</a>. However, data centers&#8217; carbon emissions could reach 450 million tons by 2027, or 1.2% of the world&#8217;s total.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42028523/cathie-wood-draws-reagan-era-parallels-as-elon-musk-takes-doge-helm-this-bull-market-has-just-begun-to-broaden-out">Cathie Wood Draws Reagan-Era Parallels As Elon Musk Takes DOGE Helm: &#8216;This Bull Market Has Just Begun To Broaden Out&#8217;</a>
Why It Matters: Gopinath&#8217;s concerns come amid the ongoing debate around Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) mining's environmental impact
According to the Cambridge Bitcoin Electricity Consumption Index, the annual greenhouse emissions from Bitcoin mining were&nbsp;<a href="https://ccaf.io/cbnsi/cbeci/ghg/comparisons" target="_blank" rel="noreferrer noopener">higher&nbsp;</a>than in countries like Greece and North Korea.
However, the increasing footprint hasn&#8217;t deterred nations from exploring the economic prospects associated with the still-nascent business.
President-elect Donald Trump vowed to make the <a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39363038/donald-trump-speaks-on-bitcoin-mining-wants-all-the-remaining-bitcoin-to-be-made-in-the-us">U.S. the Bitcoin mining hub of the world</a> during his election campaign, while Vladimir Putin&#8217;s Russia <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40279474/putin-greenlights-crypto-mining-in-russia-2-months-after-trump-vowed-to-mine-all-remaining">legalized cryptocurrency mining</a> earlier this year.
Photo by CMP_NZ on Shutterstock
Photo Courtesy: Shutterstock.com
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42027183/michael-saylor-predicts-bitcoin-boom-says-100k-on-the-horizon">Michael Saylor Predicts Bitcoin Boom, Says $100K On The Horizon</a></li>
</ul>

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

Cryptocurrency

$BTC

Core Scientific, Inc. - Class A Common Stock

CORZ

Gita Gopinath Of IMF Alarmed By Crypto And AI Energy Use, Says Share Expected To Match Japan's Current Power Consumption In Just 3 Years

Former presidential candidate Robert F. Kennedy Jr. didn&#8217;t mince words when he praised Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) as a solution to the U.S. national debt and an inflation hedge.
What Happened: Kennedy recently took to X to express his unwavering support for the leading cryptocurrency. 
&#8220;Bitcoin is the currency of freedom, a hedge against inflation for middle-class Americans, a remedy against the dollar's downgrade from the world's reserve currency, and the offramp from a ruinous national debt,&#8221; he said.
Kennedy also firmly endorsed Howard Lutnik for Treasury Secretary in the incoming Donald Trump administration, arguing that the Cantor Fitzgerald CEO would be a major advocate of Bitcoin.
<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">Bitcoin is the currency of freedom , a hedge against inflation for middle class Americans,a remedy against the dollar's downgrade from the world's reserve currency, and the offramp from a ruinous national debt. Bitcoin will have no stronger advocate than Howard Lutnik.
&mdash; Robert F. Kennedy Jr (@RobertKennedyJr) <a href="https://twitter.com/RobertKennedyJr/status/1857844634879152540?ref_src=twsrc%5Etfw">November 16, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also: <a href="https://www.benzinga.com/news/24/11/42027165/musks-doge-role-boosts-dogecoin-as-brian-armstrong-shows-support">Musk&#8217;s DOGE Role Boosts Dogecoin As Brian Armstrong Shows Support</a>
Why It Matters: Kennedy Jr.&#8217;s advocacy for Bitcoin is not new. In July, during his presidential campaign, he expressed his intent to persuade the federal government <a href="https://www.benzinga.com/24/07/39976220/robert-kennedy-jr-proposes-bitcoin-purchase-to-match-us-gold-reserves-an-offramp-to-the-inflationary">to accumulate Bitcoin until its holdings equaled the nation&#8217;s gold reserves</a>.
Kennedy had earlier <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/39103888/robert-kennedy-jr-applauds-trumps-crypto-commitment-expresses-hope-for-bidens-alignment">voiced his conviction that cryptocurrency should be treated as a currency</a>, not taxed as capital gains, and used for everyday purchases.
Meanwhile, President-elect Trump <a href="https://www.benzinga.com/general/health-care/24/11/42017583/trumps-go-wild-on-health-plan-puts-rfk-jr-in-charge-what-it-means-for-cannabis-and-psychedelics-reform">announced</a> that Kennedy would serve as the Secretary of Health and Human Services (HHS), marking the inclusion of yet another pro-Bitcoin voice in the upcoming cabinet. Rep. Matt Gaetz (R-Fla.) <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41964758/trumps-attorney-general-pick-matt-gaetz-once-proposed-collecting-federal-income-taxes-in-bitcoin-apart-from-co-sponsoring-bill-to-abolish-the-fed">was picked up </a>as the nominee for attorney general, while Tulsi Gabbard was <a href="https://www.benzinga.com/news/legal/24/11/41994550/trumps-national-intelligence-pick-is-cannabis-advocate-tulsi-gabbard-critics-say-former-congresswoman-parrots-russia-propaganda">nominated </a>as Director of National Intelligence. 
Price Action: At the time of writing, Bitcoin was exchanging hands at $90,653.00, up 0.69% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA.." target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>.
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42027183/michael-saylor-predicts-bitcoin-boom-says-100k-on-the-horizon">Michael Saylor Predicts Bitcoin Boom, Says $100K On The Horizon</a>
Disclaimer:&nbsp;This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.<a href="https://www.benzinga.com/apis?utm_source=benzinga.com&amp;utm_campaign=article-bottom" rel="noreferrer noopener" target="_blank"></a>

Robert Kennedy Jr. Calls Bitcoin The 'Currency of Freedom,' Backs Trump's Treasury Secretary Pick As Best For Crypto

Cathie Wood, CEO of ARK Invest, endorsed the newly created Department of Government Efficiency (DOGE) under Elon Musk&#8216;s leadership while advocating for stricter government spending controls in a series of posts on X on Sunday.
What Happened: &#8220;Government spending is taxation,&#8221; Wood said, citing her early economics education with Arthur Laffer. She emphasized that government spending either translates to immediate tax increases, future generational burdens, or inflation, which she termed &#8220;the most regressive tax of all.&#8221;
The discussion gained momentum following Coinbase Global Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) CEO Brian Armstrong&#8216;s proposals for constitutional reforms to limit federal expenditures. Armstrong suggested implementing a constitutional amendment capping government spending at 10% and establishing a U.S. sovereign wealth fund that would distribute shares and dividends from budget surpluses to citizens.
Wood, who recently praised Musk&#8217;s appointment to lead DOGE in a CNBC interview, emphasized his <a href="https://www.benzinga.com/media/24/11/42022531/cathie-wood-backs-elon-musks-2-trillion-doge-initiative-says-tesla-ceos-access-to-proprietary-data-and-ai-gives-him-an-edge">technological expertise as crucial for the department&#8217;s mission</a> to minimize waste and streamline government operations. 
The department, named after the cryptocurrency Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>), aims to eliminate unnecessary regulations and reorganize federal agencies for improved efficiency.
Dogecoin rallied by 6.52% over the past 24 hours to $0.372. The cryptocurrency surged 26.24% in the past week and an impressive 155.42% over the last month.
<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">From my first economic course with Art Laffer: GOVERNMENT SPENDING IS TAXATION. Government spending raises taxes today, or burdens our children with higher taxes in the future, or debases the debt and the dollar with inflation, the most regressive tax of all. <a href="https://t.co/UlXNajMgkP">https://t.co/UlXNajMgkP</a>
&mdash; Cathie Wood (@CathieDWood) <a href="https://twitter.com/CathieDWood/status/1858199927576228074?ref_src=twsrc%5Etfw">November 17, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also: <a href="https://www.benzinga.com/24/11/42028342/blackwell-backfires-nvidias-ai-chips-struggle-with-server-overheating-impacting-meta-microsoft-and-musks-xai-data-centers">Nvidia&#8217;s Blackwell Chips Are Extra Toasty, Server Overheating Issues Impact Meta, Microsoft And Elon Musk&#8217;s xAI</a>
Why It Matters: Drawing parallels to historical economic transformations, Wood highlighted the former President Ronald Reagan administration&#8217;s impact: &#8220;The Reagan revolution extended through President Clinton&#8217;s administration, leading to lower taxes, stronger GDP growth, and a bull market rewarding active equity management that lasted nearly 20 years. We believe that this bull market has just begun to broaden out.&#8221;
With President-elect Donald Trump&#8216;s upcoming return to the White House, Wood anticipates significant economic growth through deregulation and tax cuts, similar to the Reagan era&#8217;s economic policies. She predicts these changes, combined with DOGE&#8217;s efficiency initiatives, will &#8220;change the mindset profoundly in Washington&#8221; and potentially lead to lower individual and corporate tax rates.
The ARK Invest CEO, who maintains a bullish stance on cryptocurrency with Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) price predictions reaching $650,000 to $1.5 million by 2030, believes <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42019038/bitcoin-to-hit-up-to-1-5-million-by-2030-says-cathie-wood">the current bull market</a> &#8220;has just begun to broaden out,&#8221; suggesting a positive outlook for both traditional and digital asset markets under the incoming administration.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/global/24/11/42028323/gary-black-defends-tesla-strategy-amid-clash-with-elon-musk-bulls-we-dont-trade-tesla-we-trim-when-the-price-goes-higher">Gary Black Defends Tesla Strategy Amid Clash With Elon Musk Bulls: &#8216;We Don&#8217;t Trade Tesla&#8230; We Trim When The Price Goes Higher&#8217;</a></li>
</ul>
Image via Ark Invest
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

$DOGE

COIN

DOGE

Cathie Wood Draws Reagan-Era Parallels As Elon Musk Takes DOGE Helm: 'This Bull Market Has Just Begun To Broaden Out'

A meme coin inspired by the &#8220;Peanut," the squirrel, maintained its upward march Sunday as UFC legend Jim Miller demanded justice for the late animal.
What happened: Peanut the Squirrel (PNUT) jumped over 11% to become the market's fourth-best-performing cryptocurrency in the last 24 hours.&nbsp;
The coin's trading volume rose 13% to $1.70 billion, eclipsing Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>) and dogwifhat (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">WIF</a>), coins with bigger market capitalization.
The fresh rally boosted the Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)-based coin's weekly gains to a staggering 1343%, dwarfing the returns of other coins.
In less than two weeks since launch, PNUT has amassed a market capitalization of $1.72 billion, becoming the seventh-largest meme coin.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41873427/shiba-inu-lead-developer-shytoshi-kusama-pitches-s-h-i-b-in-response-to-elon-musks-call-for-new-roles-recommendations-in-trump-administration">Shiba Inu Lead Developer Shytoshi Kusama Pitches S.H.I.B In Response To Elon Musk&#8217;s Call For New Roles Recommendations In Trump Administration</a>
Sunday's rally came after UFC star Miller used his victory speech to draw attention to the cause of the late social media star.
"New York, I got one thing to say, first. We need justice for P'Nut," Miller said after defeating Damon Jackson at the Madison Square Garden.
Miller hoped that the newly constituted <a href="https://www.benzinga.com/news/24/11/41998717/elon-musk-and-vivek-ramaswamy-are-looking-for-high-iq-small-government-revolutionaries-who-are-willing-to-put-in-80-hours-at-doge">Department of Government Efficiency, or DOGE</a>, would help fix these issues. "Hopefully that DOGE cleans things up down at the state level."
<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">DOGE is a new American way of life. <a href="https://t.co/epONPNfHNt">https://t.co/epONPNfHNt</a>
&mdash; Vivek Ramaswamy (@VivekGRamaswamy) <a href="https://twitter.com/VivekGRamaswamy/status/1858263995884433447?ref_src=twsrc%5Etfw">November 17, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Why It Matters: The death of the adorable creature became a big flashpoint ahead of the presidential elections.
New York state officials <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41705004/peanut-the-squirrel-themed-meme-coins-surge-amid-social-media-outrage-over-celebrity-anima">confiscated and euthanized</a> Peanut, along with a raccoon named Fred, triggering a wave of outrage from social media and influential figures. The authorities said they acted to prevent potential human exposure to rabies from the animals.
Price Action: At the time of writing, PNUT was exchanging hands at $1.76, up 11.53% in the last 24 hours, according to <a href="https://coinmarketcap.com/currencies/peanut-the-squirrel/">data </a>from CoinMarketCap.
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42027183/michael-saylor-predicts-bitcoin-boom-says-100k-on-the-horizon">Michael Saylor Predicts Bitcoin Boom, Says $100K On The Horizon</a></li>
</ul>

Movers

Trading Ideas

$SHIB

$SOL

$WIF

Peanut The Squirrel-Themed Coin Rallies 11% As UFC Star Jim Miller Demands 'Justice' for P'Nut' After Victory

Nvidia Corporation&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) new Blackwell AI chips are reportedly grappling with overheating issues. 
What Happened: Nvidia&#8217;s Blackwell AI chips are experiencing overheating problems when connected to server racks designed to hold up to 72 chips, <a href="https://www.theinformation.com/articles/nvidia-customers-worry-about-snag-with-new-ai-chip-servers">reported</a> The Information, citing Nvidia employees working on the problem and customers and suppliers familiar with the situation.
The chipmaker has reportedly requested its suppliers to modify the rack design multiple times to address the overheating issue. 
See Also: <a href="https://www.benzinga.com/general/social-media/24/11/42022443/ibm-disney-and-other-large-advertisers-return-to-elon-musks-x-after-a-year-long-boycott-we-super-appreciate?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">IBM, Disney And Other Large Advertisers Return To Elon Musk&#8217;s X After A Year-Long Boycott: &#8216;We Super Appreciate&#8217;</a>
A Nvidia spokesperson told Reuters, &#8220;Nvidia is working with leading cloud service providers as an integral part of our engineering team and process. The engineering iterations are normal and expected.&#8221;
Nvidia did not immediately respond to <a href="https://pro.benzinga.com/dashboard">Benzinga&#8217;s</a> request for comments.
The Blackwell chips, unveiled by Nvidia in March, were initially slated to ship in the second quarter.
However, they faced delays, potentially affecting customers such as Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), Alphabet Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Google and Elon Musk&#8217;s xAI.
Why It Matters: The Blackwell chip combines two silicon squares into a single component. It is touted to be 30 times faster at tasks like responding to chatbot queries than the company&#8217;s previous offering.
The <a href="https://www.benzinga.com/news/24/10/41156900/nvidia-ceo-jensen-huang-says-demand-for-next-gen-blackwell-gpu-platform-insane-everyone-wants-to-hav">demand for the Blackwell GPU</a> platform was described as &#8220;insane&#8221; by Nvidia CEO Jensen Huang last month.
Nvidia&#8217;s Blackwell chip revenue was projected to <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41883803/nvidias-blackwell-chip-revenue-could-hit-6-billion-next-quarter-analyst">hit $6 billion in the next quarter</a>, according to a Morgan Stanley analyst. This projection was made despite Nvidia being fully supply-constrained on new products.
Earlier this month, <a href="https://www.benzinga.com/news/large-cap/24/11/41761849/nvidia-blows-past-apple-to-become-worlds-most-valuable-company">Nvidia surpassed Apple</a> to become the world&#8217;s most valuable company, largely due to its dominance in the artificial intelligence chip market. The AI giant&#8217;s current market capitalization stands at $3.482 trillion.
Price Action: Nvidia shares closed Friday&#8217;s trading session with a 3.26% decline, settling at $141.98. In after-hours trading, the stock saw a slight uptick, reaching $142.70 at the time of writing, according to <a href="https://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/24/11/42022124/t-mobile-hit-by-chinese-hackers-after-rivals-att-verizon-suffer-breach-report?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">T-Mobile Hit By Chinese Hackers After Rivals AT&amp;T, Verizon Suffer Breach: Report</a></li>
</ul>
Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.

MSFT

NVDA

Nvidia's Blackwell Chips Are Extra Toasty, Server Overheating Issues Impact Meta, Microsoft And Elon Musk's xAI

Leading cryptocurrencies dipped on Sunday as investors reduced their risk-taking appetite amid the Federal Reserve's cautious stance on rate cuts.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 7:45 p.m. ET)</td>
</tr>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>-0.76%</td>
<td>$90,085.28</td>
</tr>
<tr>
<td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>-0.88%</td>
<td>$3,119.31</td>
</tr>
<tr>
<td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>-1.12%</td>
<td>$0.3621</td>
</tr>
</tbody>
</table>
</figure>
What Happened: Bitcoin rose above $91,000 early morning hours but lost steam and retreated below $89,000 by evening. Dip-buying eventually boosted it over $90,000.
Ethereum followed a similar trajectory, plummeting to $3,040 from an intraday high of $3,160, only to recover to $3,110 overnight.
Total cryptocurrency liquidations hit $373 million in the last 24 hours, with bullish leveraged positions losing over $258 million.
The Open Interest (OI) in Bitcoin futures rose 0.78% in the last 24 hours.
Bitcoin's funding rates across major cryptocurrency exchanges continued to be positive, indicating dominance of longs.
The "Extreme Greed" sentiment weakened sharply from 90 to 83 due to the corrective action, reading from the Cryptocurrency Fear and Greed Index showed.
Top Gainers (24-Hours)
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 7:45 p.m. ET)</td>
</tr>
<tr>
<td>MANTRA (OM)</td>
<td>+50.55%</td>
<td>$4.13</td>
</tr>
<tr>
<td>Raydium (RAY)</td>
<td>+19.43%</td>
<td>$5.83</td>
</tr>
<tr>
<td>Peanut the Squirrel (PNUT)</td>
<td>+12.22%</td>
<td>$1.88</td>
</tr>
</tbody>
</table>
</figure>
The global cryptocurrency market capitalization stood at $3.01 trillion, declining 1.25% in the last 24 hours.
Stock futures edged marginally higher Sunday night. The Dow Jones Industrial Average Futures rose 10 points, or 0.02%, as of 7:45 p.m. EDT.&nbsp; Futures tied to the S&amp;P 500 gained 0.20%, while Nasdaq 100 Futures added 0.47%.
The three benchmark averages witnessed sell-offs last week after the Fed's Jerome Powell's <a href="https://www.benzinga.com/news/treasuries/24/11/41993899/powells-hawkish-remarks-shake-markets-stocks-fall-dollar-rockets-bitcoin-dips">hawkish tone</a> cast doubts about December's interest rate cuts.
Investors <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">priced </a>in a 62% chance of a 25 basis-point cut as per the CME FedWatch tool, down from 64.6% a week before.
See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>
Analyst Notes: Popular cryptocurrency analyst Ali Martinez stated that a daily close for Bitcoin above $91,000 would negate his previous bearish prediction and propel the cryptocurrency to $100,680.
<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">Finally, I believe a sustained daily close above $91,900 will invalidate this bearish <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> outlook and trigger a breakout to $100,680! <a href="https://t.co/eau2mCe0wY">https://t.co/eau2mCe0wY</a>
&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1858234742224937337?ref_src=twsrc%5Etfw">November 17, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
In the case of Bitcoin retrace, Martinez flagged $85,800 &#8211; $83,250 and $75,520 &#8211; $72,880 as important support levels to keep track of.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">In the event of a <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> price correction, the key support walls to watch are $85,800 &#8211; $83,250 as well as $75,520 &#8211; $72,880. <a href="https://t.co/j0rTqnKLqT">https://t.co/j0rTqnKLqT</a>
&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1858234736910684601?ref_src=twsrc%5Etfw">November 17, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Michaël van de Poppe, another widely-followed cryptocurrency researcher, said he was buying Bitcoin and Ethereum dips amid growing volatility.
"Expect that we&#8217;ll see $100K per Bitcoin before 1st of January 2025," he added.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Outside of my <a href="https://twitter.com/hashtag/Altcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Altcoin</a> portfolio, it&#39;s time to be trading actively again. The volatility is going up on everything. Buying the dips on <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> &amp; <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a>. Expect that we&#39;ll see $100K per Bitcoin before 1st of January 2025.
&mdash; Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1858235515029291124?ref_src=twsrc%5Etfw">November 17, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Photo by Igor Faun on Shutterstock
Read Next:    
<ul>
<li><a href="https://www.benzinga.com/news/24/11/42027165/musks-doge-role-boosts-dogecoin-as-brian-armstrong-shows-support">Musk&#8217;s DOGE Role Boosts Dogecoin As Brian Armstrong Shows Support</a></li>
</ul>

$ETH

Bitcoin, Ethereum, Dogecoin Slip As Fed's Hawkish Stance Tempers Rally: Analyst Expects BTC To Reach $100K Before New Year

The Future Fund LLC, Managing Partner Gary Black pushed back against accusations of short-term trading, clarifying his firm's Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) investment approach focuses on <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41870590/tesla-remains-core-for-gary-black-despite-price-cuts-earnings-drop-nvidia-google-eli-lilly-among-top-performers-in-tech-bulls-portfolio">strategic position adjustment rather than active trading</a>.
What Happened: Black revealed that The Future Fund&#8217;s average Tesla stock purchase price since early 2023 has been $162, while their average selling price has been $252. This disclosure came amid debate over the fund&#8217;s trading practices on social media platform X.
&#8220;We don&#8217;t trade Tesla,&#8221; Black stated. &#8220;We trim when Tesla&#8217;s price goes higher, which causes upside/downside to decline. We tend to buy more when Tesla&#8217;s price falls.&#8221;
The investment veteran expressed concern about growing polarization within the Tesla investor community, noting that moderate voices are being pushed out by extreme positions. Black highlighted recent instances where well-known Tesla bulls faced criticism for discussing potential short-term risks, even while maintaining overall positive outlooks.
&#8220;The community has lost some great Tesla longs as spokespeople and is in danger of losing still more because the cult is prone to attack anyone who is not over the top bullish,&#8221; Black wrote.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">We don't trade <a href="https://twitter.com/search?q=%24TSLA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TSLA</a>. As with all stocks in our portfolio, we trim when TSLA's price goes higher, which ceteris paribus causes TSLA upside/downside to decline. We tend to buy more as we did in early 2023 when TSLA's price falls. Since the beginning of 2023, our avg TSLA buy… <a href="https://t.co/vcByxTJNzh">https://t.co/vcByxTJNzh</a>
&mdash; Gary Black (@garyblack00) <a href="https://twitter.com/garyblack00/status/1858271575235047804?ref_src=twsrc%5Etfw">November 17, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Of particular concern to Black is the potential loss of the $7,500 federal EV tax credit, which he argues could significantly impact Tesla&#8217;s business. With electric vehicles comprising approximately 80% of Tesla&#8217;s revenue, the company faces greater exposure to EV market dynamics compared to traditional automakers.
See Also: <a href="https://www.benzinga.com/startups/24/11/42026926/bitcoin-hits-an-all-time-high-but-nvidia-has-outperformed-it-dramatically-over-the-last-five-years">Bitcoin Hits An All-Time High, But Nvidia Has Outperformed It Dramatically Over The Last Five Years</a>
Why It Matters: The Future Fund has maintained Tesla as a significant holding since its 2021 launch, though the position has been adjusted from 12.2% in October 2022 to 4.6% as of November 2023. These adjustments reflect Black&#8217;s disciplined investment approach and response to changing market conditions.
Tesla&#8217;s stock has shown significant volatility over the past year, trading between a low of $138.80 and a high of $358.64, according to market data. Black&#8217;s fund recently trimmed positions at $351 after the stock rose 150% from its April bottom.
&#8220;As disciplined growth investors, we have to like Tesla less at $350 than we did at $140 since the relative upside/downside is less favorable,&#8221; Black explained.
The veteran investor emphasized that maintaining a balanced perspective, including acknowledging both bullish and bearish cases, has been key to his credibility in financial media appearances.
Price Action: Tesla stock closed at $320.72 on Friday, gaining 3.07% for the day. In after-hours trading, the stock edged up 0.0062%. Year to date, Tesla&#8217;s stock has risen by 29.10%, according to <a href="https://pro.benzinga.com/dashboard">data from Benzinga Pro</a>.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/general/social-media/24/11/42022443/ibm-disney-and-other-large-advertisers-return-to-elon-musks-x-after-a-year-long-boycott-we-super-appreciate">IBM, Disney And Other Large Advertisers Return To Elon Musk&#8217;s X After A Year-Long Boycott: &#8216;We Super Appreciate&#8217;</a></li>
</ul>
Image Via Shutterstock 
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Emerging Markets

Global

Gary Black Defends Tesla Strategy Amid Clash With Elon Musk Bulls: 'We Don't Trade Tesla... We Trim When The Price Goes Higher'

Former Governor of South Carolina and erstwhile presidential candidate Nikki Haley said on Sunday that Iran&#8217;s oil exports had risen four-fold under President Joe Biden due to his &#8220;lack of enforcement.&#8221;
What Happened: In a post on X, she said that &#8220;nearly all of the oil went to China.&#8221; 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Iran&#39;s oil exports were up 4X under Biden due to his lack of enforcement on sanctions. Nearly all of the oil went to China. Biden's weakness on Iran is ending and not a moment too soon. America can never support the funding of terrorism. <a href="https://t.co/8S7hOyQNbV">https://t.co/8S7hOyQNbV</a>
&mdash; Nikki Haley (@NikkiHaley) <a href="https://twitter.com/NikkiHaley/status/1858246765633233348?ref_src=twsrc%5Etfw">November 17, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
&#8220;Biden's weakness on Iran is ending and not a moment too soon. America can never support the funding of terrorism,&#8221; said the former U.S. ambassador to the United Nations.
The former governor also shared a <a href="https://www.ft.com/content/3710bf14-010e-412d-83c7-b07773d6a45f">report</a> by the Financial Times which noted that President-elect Donald Trump&#8217;s administration is planning to reinstate its &#8220;maximum pressure&#8221; policy on Iran, aiming to cripple the nation&#8217;s ability to fund regional proxies and develop nuclear weapons.
Trump&#8217;s foreign policy team is gearing up to increase sanctions on Tehran, including vital oil exports, as soon as Trump takes office in January. &#8220;He&#8217;s determined to reinstitute a maximum pressure strategy to bankrupt Iran as soon as possible,&#8221; a national security expert familiar with the Trump transition revealed.
The strategy comes amidst Middle East turmoil following Hamas&#8217;s October 7, 2023 attack, which ignited regional hostilities and brought Israel&#8217;s shadow war with Iran into the open. Trump&#8217;s team believes the maximum pressure tactic could force Iran into negotiations with the US, although experts consider this a long shot.
During his first term, Trump implemented a &#8220;maximum pressure&#8221; campaign after abandoning the 2015 nuclear deal Iran signed with world powers, imposing hundreds of sanctions on the Islamic republic. In response, Tehran increased its nuclear activity, enriching uranium close to weapons-grade level.
See Also: <a href="https://www.benzinga.com/news/24/11/41998717/elon-musk-and-vivek-ramaswamy-are-looking-for-high-iq-small-government-revolutionaries-who-are-willing-to-put-in-80-hours-at-doge?itm_source=parsely-api">Elon Musk And Vivek Ramaswamy Are Looking For &#8216;High IQ Small-Government Revolutionaries&#8217; Who Are Willing To Put In 80+ Hours At DOGE</a>
Trump&#8217;s transition team is preparing executive orders to target Tehran, including tightening and adding new sanctions on Iranian oil exports. &#8220;If they really go whole hog . . . they could knock Iran's oil exports back to a few hundred thousand barrels per day,&#8221; said Bob McNally, president of consultancy Rapidan Energy.
Why It Matters: Iran&#8217;s crude oil exports have more than tripled in the past four years, from a low of 400,000 barrels a day in 2020 to more than 1.5mn b/d so far in 2024, with nearly all shipments going to China, according to the US Energy Information Agency, noted the Financial Times.
The pace of oil exports from Iran to China has been rising at a steady clip. Data from the U.S. Department of Energy shows that In 2021, Iran exported 708,000 barrels of oil to China per day, this figure rose to 838,000 barrels in 2022 and touched 1.2 million barrels per day by 2023.
While stricter enforcement could push oil prices higher, it risks retaliation from China, including moves to weaken dollar dominance through the BRICS club. Simultaneously, easing sanctions on Russia under Trump could reshape global energy dynamics, reported Reuters.
&#8220;I was a user of sanctions, but I put them on and take them off as quickly as possible, because ultimately it kills your dollar, and it kills everything the dollar represents,&#8221; said Trump in September, according to Reuters.
In recent weeks the tensions between Washington and Tehran have been escalating. The <a href="https://www.benzinga.com/government/24/10/41298349/us-hits-iran-oil-exports-with-new-sanctions-after-israel-attack-crude-oil-holds-steady-at-75">US imposed new sanctions on Iran&#8217;s oil exports</a> following Iran&#8217;s direct attack on Israel.
Shortly after, in November, the <a href="https://www.benzinga.com/news/global/24/11/41857278/iranian-plot-against-trump-unveiled-as-tensions-with-us-grow">US disclosed an assassination plot by Iranian operatives targeting Trump</a>, which was <a href="https://www.benzinga.com/news/global/24/11/41869511/iran-calls-trump-assassination-plot-claims-completely-baseless">dismissed by Iran as baseless</a>. These incidents have added fuel to the already strained relations between the two nations.
Image Via Shutterstock.com
Did You Know?
<ul>
<li>Congress Is Making Huge Investments. <a href="https://www.benzinga.com/gov-trades">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>

Commodities

Forex

General

Nikki Haley Says Biden's Weakness On Iran Is Ending, But Will Trump's Vow To Stop Iran's China Oil Windfall Wound The Dollar?

Jeff Bezos, the founder of Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), has wrapped up his recent sale of Amazon shares. Last week, Bezos sold off Amazon stock worth $1.3 billion, taking his total sales for November to a whopping $3.4 billion.
What Happened:&nbsp;Bezos has offloaded a total of $5.1 billion worth of Amazon stock since July. These sales were carried out under a prearranged trading plan known as 10b5-1, a common practice among large shareholders. 
Barron&#8217;s reports that this <a href="https://www.barrons.com/amp/articles/amazon-stock-sales-jeff-bezos-a0fd8878">plan</a>, which was announced in May, replaced a previous one and was designed for Bezos to sell 25 million Amazon shares by the end of 2025.
Don&#8217;t Miss:
<ul>
<li>This Jeff Bezos-backed startup will allow you to<a href="https://arrivedhomes.go2cloud.org/aff_c?offer_id=15&amp;aff_id=1006&amp;aff_sub=yahoo&amp;aff_sub2=jeffbezos100"> become a landlord in just 10 minutes, and you only need $100</a>.</li>
<li>Over the last five years, the price of gold has increased by approximately 83% — Investors like Bill O&#8217;Reilly and Rudy Giuliani are using this platform to <a href="https://tracking.hgoldgroup.com/aff_c?offer_id=40&amp;aff_id=1053&amp;aff_sub=y2">create customized gold IRAs to help shield their savings from inflation and economic turbulence.</a></li>
</ul>
Bezos has completed his sales ahead of schedule. His last trade under the plan was conducted on Wednesday, where he sold 39,538 shares for approximately $8 million. 
This transaction took his total share sales since July to the planned 25 million, marking the end of the current plan.
While Amazon has chosen not to comment on the stock sales, investors are eagerly awaiting the announcement of a new plan, possibly in Amazon&#8217;s next quarterly report. 
Despite the massive sales, Bezos still holds over a billion Amazon shares, valued at $213 billion.
Why It Matters:&nbsp;Bezos&#8217; massive sell-off of Amazon shares, totaling $5.1 billion since July, has been a topic of interest among investors. 
The sales were conducted under a prearranged 10b5-1 trading plan, which is commonly used by large shareholders to avoid accusations of insider trading. 
The completion of this plan ahead of schedule has sparked anticipation for the announcement of a new plan, potentially to be revealed in Amazon&#8217;s upcoming quarterly report. 
Despite the large-scale sales, Bezos remains a major shareholder in Amazon, with over a billion shares valued at $213 billion.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/go/arrived-private-credit-yf">Arrived Home's Private Credit Fund&#8217;s has historically paid an annualized dividend yield of 8.1%&#x2A;</a>, which provides access to a pool of short-term loans backed by residential real estate. The best part? Unlike other private credit funds, <a href="https://www.benzinga.com/go/arrived-private-credit-yf">this one has a minimum investment of only $100.</a></li>
<li>Commercial real estate has historically outperformed the stock market, and<a href="https://equitymultiple.com/benzinga?invite=benzinga&amp;utm_campaign=product-promotion-earn&amp;utm_source=yahooFinance&amp;utm_medium=affiliate&amp;utm_content=stockmarket-yahoo"> this platform allows individuals to invest in commercial real estate with as little as $5,000 offering a 12% target yield with a bonus 1% return boost today!</a></li>
</ul>

AMZN

Bezos Wraps Up Sale Of $3.4B Worth Of Amazon Shares

EVgo, Inc. (EVGO) Q3 2024 Earnings Call Transcript

Get caught up quickly on the top news and calls moving stocks with these five Top Five lists. 1. STOCK NEWS: Elliott has built a $5B+ stake in Hone...

Elliott confirms big Honeywell stake, Home Deport reports Q3 beat: Morning Buzz

Gabriel Daoud, an analyst from TD Cowen, maintained the Buy rating on EVgo (EVGO – Research Report). The associated price target remains the same w...

EVgo's Strong Financial Performance and Strategic Growth Justify Buy Rating

Evgo Inc. ( ($EVGO) ) has released its Q3 earnings. Here is a breakdown of the information Evgo Inc. presented to its investors. EVgo Inc. is a pro...

EVgo Inc. Achieves Record Growth in Q3 2024

J.P. Morgan analyst Bill Peterson has maintained their bullish stance on EVGO stock, giving a Buy rating yesterday. Bill Peterson has given his Buy...

EVgo's Growth Potential and Strategic Positioning Drive Buy Recommendation

In a report released today, Chris Pierce from Needham reiterated a Hold rating on EVgo (EVGO – Research Report). The company's shares closed yester...

Needham Remains a Hold on EVgo (EVGO)

EVgo Q3 Results: The Potential To Succeed Is There, But It'll Take Time

In a report released today, Stephen Gengaro from Stifel Nicolaus maintained a Buy rating on EVgo (EVGO – Research Report), with a price target of $...

EVgo (EVGO) Gets a Buy from Stifel Nicolaus

In a report released today, James West from Evercore ISI maintained a Buy rating on EVgo (EVGO – Research Report), with a price target of $7.00. Th...

EVgo (EVGO) Gets a Buy from Evercore ISI

EVgo bulls think the closing of the DOE loan could be a major catalyst

ABNB

ALIT

ANGI

EVGO

EVGOW

GENI

GOEV

HRTX

NVAX

ROST

SHOP

SNDX

ZETA

Screenshot 2024-11-07 at 6.37.06 PM

CHPT

Grab A Meal At A Lounge With 24/7 Security While Your EV Charges – Getaway Space Plans To Redefine EV Charging

Press Releases

EVgo CEO to Host Public Virtual Town Hall on October 2 at 8:30AM ET

Marathon Capital Hires James Fitzgerald as Head of Institutional Sales

EVgo and GM Take Charging to the Next Level with New Flagship Destinations Set to Optimize the Charging Experience

EVgo Appoints Paul Dobson Chief Financial Officer

EVgo Receives Conditional Commitment for DOE Loan Guarantee of up to $1.05 Billion to Accelerate Buildout of Public Fast Charging Across the U.S.

EVgo and Delta Electronics Sign MOU to Co-Develop Next-Generation Charging Architecture

EVgo to Report Third Quarter 2024 Results on November 12, 2024

EVgo Inc. Reports Record Third Quarter 2024 Results

AMPS

ARRY

CWEN

ENPH

FLNC

FSLR

GNRC

HASI

NOVA

OPAL

PLUG

SEDG

SHLS

SPWRQ

STEM

Advance Auto Parts

Asbury Automotive Gr

AutoNation

ARKO

Autozi Internet Technology (Global) Ltd. - Class A Ordinary Shares

Autozi Internet Tech

AutoZone

Cango Inc. American Depositary Shares, each representing two (2) Class A Ordinary Shares

Comments

EVgo

Actualités

Dernières nouvelles pour EVgo (NASDAQ:EVGO) Stock

Les gens regardent aussi

Notizie

PARTENAIRE / CONTRIBUTEUR

BENZINGA MONDIAL