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GitLab

GitLab Inc operates on an all-remote model. GitLab, a complete DevSecOps platform delivered as a single application. It operates in two competitive landscapes: DevOps point solutions and DevOps platforms. In terms of point solutions that are stitched together, GitLab's offering is substantially different in that it is one platform, one codebase, one interface, and a unified data model that spans the entire DevSecOps lifecycle. DevOps platforms, the principal competitor is Microsoft Corporation following their acquisition of GitHub. GitLab is offered on both self-managed and software-as-a-service (SaaS) models. It is located in the United States, Europe, and Asia Pacific. It focused on accelerating innovation and broadening the distribution of its platform to companies across the world.

GitLab Inc

News

Lead Real Estate Collaborates With MEDIROM To Integrate Cutting-Edge Healthtech In ENT TERRACE Hotels

SpaceX&#8216;s Starlink team and T-Mobile US Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TMUS#NASDAQ">TMUS</a>) have activated their Direct-to-Cell coverage to provide emergency alerts for all phones and telecommunications carriers in areas affected by Hurricane Helene as well as <a href="https://www.benzinga.com/markets/equities/24/10/41209505/hurricane-milton-is-floridas-second-storm-in-two-weeks-how-disney-theme-parks-insurance-companie">Florida ahead of Hurricane Milton</a>, the company said on Tuesday.
What Happened: The satellites will allow those in hurricane-affected areas to send text messages to their near and dear ones, contact 911, or receive emergency alerts.
When connected to a Starlink satellite, the phone will show &#8220;T-Mobile SpaceX&#8221; in the network name and have one or two bars of signal, the company said. However, messages might not go through on the first try and might require users to retry, the company said while adding that the service is being delivered on a best-effort basis. 
&#8220;The service works best outdoors, and occasionally works indoors near a window,&#8221; the company added. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">In addition to the thousands (&gt;10k) of Starlink kits we are delivering in response to Hurricane Helene, the <a href="https://twitter.com/Starlink?ref_src=twsrc%5Etfw">@Starlink</a> team and <a href="https://twitter.com/TMobile?ref_src=twsrc%5Etfw">@TMobile</a> activated our Direct to Cell satellites to provide emergency alerts for all phones and carriers of those in affected areas. The <a href="https://twitter.com/FCC?ref_src=twsrc%5Etfw">@FCC</a> has also…
&mdash; SpaceX (@SpaceX) <a href="https://twitter.com/SpaceX/status/1843797123420303789?ref_src=twsrc%5Etfw">October 8, 2024</a></blockquote>
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The company <a href="https://www.benzinga.com/news/24/10/41200194/spacex-and-t-mobiles-direct-to-cell-satellite-service-for-hurricane-hit-areas-green-lighted-by-fcc-a">has also received</a> the Federal Communication Commission&#8216;s (FCC) approval to provide coverage in Florida ahead of Hurricane Milton in addition to areas already impacted by Hurricane Helene, the company said.
Hurricane Milton is now <a href="https://www.benzinga.com/news/24/10/41243307/tesla-advises-owners-to-fully-charge-evs-at-home-as-hurricane-milton-approaches-plans-mobile-superch">approaching Florida's west coast</a>. It is expected to make landfall&nbsp;<a href="https://www.benzinga.com/markets/equities/24/10/41239644/hurricane-milton-evacuations-a-matter-of-life-and-death-biden-says-feds-bostic-says-storm-could-" target="_blank" rel="noreferrer noopener">late Wednesday near Tampa</a>&nbsp;as a Category 3 storm before moving toward the Atlantic Ocean.
"Evacuations and other preparations should be completed tonight. Milton has the potential to be one of the most destructive hurricanes on record for west-central Florida,"&nbsp;the National Hurricane Center said on Tuesday while also warning of devastating hurricane-force winds and heavy rainfall.
&#8220;Thank you to the FCC for the rapid approval enabling this capability which is so critical to helping those that have been impacted by Hurricane Helene or are in the path of Hurricane Milton,&#8221; SpaceX President Gwynne Shotwell wrote on X on Tuesday. 
The company President also said that emergency alerts including evacuation notices and other messages have already been sent through the Starlink network. 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Thank you to the <a href="https://twitter.com/FCC?ref_src=twsrc%5Etfw">@FCC</a> for the rapid approval enabling this capability which is so critical to helping those that have been impacted by Hurricane Helene or are in the path of Hurricane Milton. With this best effort trial – we have sent emergency alerts through the network… <a href="https://t.co/WTKhoSoS0d">https://t.co/WTKhoSoS0d</a>
&mdash; Gwynne Shotwell (@Gwynne_Shotwell) <a href="https://twitter.com/Gwynne_Shotwell/status/1843830928046694605?ref_src=twsrc%5Etfw">October 9, 2024</a></blockquote>
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</figure>
Starlink kits have been part of the efforts to restore connectivity in regions impacted by Hurricane Helene. SpaceX said on Tuesday that it is delivering over 10,000 Starlink kits in response to the hurricane. 
Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read More:
<ul>
<li><a href="https://www.benzinga.com/news/24/10/41221616/elon-musks-spacex-says-starship-to-fly-for-5th-time-as-soon-as-oct-13-but-theres-a-catch">Elon Musk&#8217;s SpaceX Says Starship To Fly For 5th Time As Soon As Oct 13, But There&#8217;s A Catch</a></li>
</ul>
Photo courtesy: SpaceX

SPACE

Tech

TMUS

SpaceX's Starlink And T-Mobile Get Approval To Roll Out Direct-To-Cell Coverage In Florida Before Hurricane Milton Makes Landfall

Scholar Rock Holding Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SRRK#NASDAQ">SRRK</a>), a late-stage biopharmaceutical company focused on advancing innovative treatments for spinal muscular atrophy (SMA), cardiometabolic disorders, and other serious diseases where protein growth factors play a fundamental role, today announced the pricing of an upsized underwritten public offering of 10,265,488 shares of its common stock at a public offering price of&nbsp;$28.25&nbsp;per share and, in lieu of common stock to investors who so choose, pre-funded warrants to purchase 353,983 shares of common stock at a public offering price of&nbsp;$28.2499&nbsp;per pre-funded warrant, which represents the per share public offering price for the shares of common stock less the&nbsp;$0.0001&nbsp;per share exercise price for each pre-funded warrant. All of the shares and pre-funded warrants are being offered by Scholar Roc

SRRK

Reported Earlier, Scholar Rock Prices Upsized $300M Public Offering Of 10,265,488 Common Stock At $28.25/Share And Pre-Funded Warrant

Cryptocurrency asset trading and management firm Canary Capital has lodged a registration statement with the SEC for an XRP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>) exchange-traded fund (ETF), marking the second such filing this month.
What Happened: Canary Capital submitted the S-1 <a href="https://www.sec.gov/Archives/edgar/data/2039505/000199937124013130/0001999371-24-013130-index.htm">filing</a>—a prerequisite for issuers to file&nbsp;to publicly offer new securities—on Tuesday. 
The proposed Canary XRP ETF intended to provide direct exposure to the value of XRP held by the trust and allow investors the opportunity to access the market through a traditional brokerage account
Canary Capital didn&#8217;t immediately return Benzinga&#8217;s request for comment.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41243296/shiba-inu-lead-developer-shytoshi-kusama-reshares-mysterious-post-about-the-last-chapter-t">Shiba Inu Lead Developer Shytoshi Kusama Reshares Mysterious Post About &#8216;The Last Chapter To My Story&#8217;— Is He Hinting At An Exit From Project Or A Potential Moon Run?</a>
Why It Matters: Canary Capital&#8217;s move follows Bitwise Asset Management&#8217;s S-1 <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41134111/after-bitcoin-ethereum-an-xrp-etf-bitwise-registers-filing-in-delaware-amid-rippe-vs-sec-l">filing for an XRP ETF</a> last week, which became the first company to attempt something of this sort in the U.S.
That said, the possibility of such an investment vehicle coming to fruition remains clouded by legal and regulatory uncertainties.
The Gary Gensler-led SEC is currently <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41157465/gary-genslers-sec-appeals-2023-ruling-against-ripple-labs-xrp-tanks-10-just-prolongs-compl#:~:text=An%20SEC%20spokesperson%20told%20Benzinga,case%20to%20the%20Second%20Circuit.">embroiled in a legal battle</a> with Ripple Labs, alleging that the company generated billions through the sale of XRP, which it views as an unregistered security.
Price Action: At the time of writing, XRP was trading at 0.5335, up 0.72% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA.." target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>.
Image via Shutterstock
Read Next: 
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41234336/crypto-com-takes-on-sec-in-legal-battle-after-receiving-wells-notice">Crypto.Com Takes On SEC In Legal Battle After Receiving Wells Notice</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.<a href="https://www.benzinga.com/apis?utm_source=benzinga.com&amp;utm_campaign=article-bottom" rel="noreferrer noopener" target="_blank"></a>

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

Cryptocurrency

Government

Regulations

Markets

$XRP

XRP ETF Buzz Increases As Canary Capital Pursues SEC For Greenlight On Its Fund — Will The Gary Gensler-Led Regulator Give Its Nod?

Crinetics intends to use the net proceeds from the offering, together with its existing cash, cash equivalents and investment securities, to fund research and development of its clinical-stage product candidates, other research programs, pre-commercialization activities and other general corporate purposes, which may include, among other things, capital expenditures or working capital. Crinetics may also use a portion of the remaining net proceeds, together with its existing cash, cash equivalents and investment securities, to in-license, acquire, or invest in complementary businesses, technologies, products or assets; however, it has no current commitments or obligations to do so.

CRNX

Reported Earlier, Crinetics Pharmaceuticals Prices $500M Upsized Public Offering Of 10M Common Shares At $50/Share

<ul>
<li>IPF patient survey provides new insights into disease burden and patient experience one decade after the approval of the first antifibrotics for IPF</li>
<li>Clinical abstract reviews the ability of Bayesian analysis to maximize statistical power and reduce the number of patients on placebo in Phase 2b ELEVATE IPF trial of LYT-100</li>
<li>Topline data from the Phase 2b ELEVATE IPF trial of LYT-100 expected by the end of 2024</li>
</ul>

PRTC

PureTech Highlights IPF Burden And Bayesian Analysis For LYT-100 At CHEST 2024

Macro Economic Events

Econ #s

Economics

Germany Trade Balance For August 22.5B Vs. 18.9B Est.; 16.8B Prior

<ul>
<li>World-class lithium business to strengthen Rio Tinto&#39;s position as global leader in</li>
<li>energy transition commodities</li>
<li>Counter-cyclical expansion into a high-growth market, aligned with Rio Tinto&#39;s long-term strategy and disciplined capital allocation framework</li>
<li>Rio Tinto&#39;s scale, project development capabilities and financial strength to unlock full potential of</li>
<li>Arcadium Lithium&#39;s Tier 1 resource base</li>
</ul>

ALTM

Rio Tinto To Acquire Arcadium Lithium For $6.7B At $5.85/Share, Boosting Global Position In Lithium Market

Jia established Grow Fandor Inc., a global IP commercialization company, together with a group of global partners. Jia transferred nearly&nbsp;60%&nbsp;of his personal shares, which is&nbsp;10 percent&nbsp;of Grow Fandor&#39;s total shares, to FF as a gift.

FFIE

Faraday Future Receives 10% Stake In Grow Fandor From Founder YT Jia

New Beyfortus data featured at IDWeek reinforce real-world effectiveness against RSV disease and hospitalization in infants

Sanofi Unveils Beyfortus Data At IDWeek 2024, Showcasing Over 80% Effectiveness In RSV Protection For Infants Globally

INDA

India Interest Rate Decision Unchanged At 6.50%

EV giant Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) instructed its vehicle owners to charge their electric vehicles fully at home before <a href="https://www.benzinga.com/markets/equities/24/10/41239644/hurricane-milton-evacuations-a-matter-of-life-and-death-biden-says-feds-bostic-says-storm-could-">Hurricane Milton</a> hits the Florida peninsula while adding that it will dedicate its efforts to deploying mobile superchargers after the hurricane.
What Happened: Tesla said in a post on social media platform X that the company will deploy mobile superchargers after the hurricane to help its vehicle owners. The company said these superchargers would be powered by its batteries called Megapacks. Each Megapack unit can store over 3.9 MWh of energy. 
In addition to deploying mobile superchargers, the company will also focus on restoration of the supercharger network, it said. 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Charging preparations ahead of Hurricane Milton: → If charging at home, charge to 100%. → Live status and availability of Superchargers are in the vehicle&#39;s touchscreen or the Tesla App. → Access types for other EVs are on the Find Us map. <a href="https://t.co/KieRhYZAeG">https://t.co/KieRhYZAeG</a> →…
&mdash; Tesla Charging (@TeslaCharging) <a href="https://twitter.com/TeslaCharging/status/1843425572698943902?ref_src=twsrc%5Etfw">October 7, 2024</a></blockquote>
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Prepare In Advance: Tesla has recommended its vehicle owners charge their EVs fully if charging at home ahead of the storm.
It also added that the working status and availability of superchargers when on the move can be accessed on the vehicle&#8217;s touchscreen or the Tesla App.
Why It Matters: Hurricane Milton is now approaching Florida&#8217;s west coast. It is expected to make landfall <a href="https://www.benzinga.com/markets/equities/24/10/41239644/hurricane-milton-evacuations-a-matter-of-life-and-death-biden-says-feds-bostic-says-storm-could-">late Wednesday near Tampa</a> as a Category 3 storm before moving toward the Atlantic Ocean. 
&#8220;Evacuations and other preparations should be completed tonight. Milton has the potential to be one of the most destructive hurricanes on record for west-central Florida,&#8221;&nbsp;the National Hurricane Center said on Tuesday while also warning of devastating hurricane-force winds and heavy rainfall. 
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
Read More:
<ul>
<li><a href="https://www.benzinga.com/news/24/10/41226586/nasa-and-spacex-delay-crew-8-missions-return-as-hurricane-milton-nears-florida-coast">NASA And SpaceX Delay Crew 8 Mission&#8217;s Return As Hurricane Milton Nears Florida Coast</a></li>
</ul>
Photo courtesy: Unsplash

TSLA

Tesla Advises Owners To Fully Charge EVs At Home As Hurricane Milton Approaches, Plans Mobile Superchargers For Aftermath

Shytoshi Kusama, the mysterious lead developer and co-founder of the Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>) ecosystem, shared a cryptic post, sparking intrigue and speculation in the cryptocurrency community.
What happened: The suspenseful figure reposted a message from another X user, Tsukiyomi Mishima, captioned, "I think this will be the last chapter to my story…"
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I think this will be the last chapter to my story … <a href="https://t.co/izEFMwKH6e">pic.twitter.com/izEFMwKH6e</a>
&mdash; Tsukiyomi Mishima (@TsukiyomiMishim) <a href="https://twitter.com/TsukiyomiMishim/status/1843254124139499898?ref_src=twsrc%5Etfw">October 7, 2024</a></blockquote>
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For the curious, ‘Tsukiyomi' refers to the god of the moon in Japanese mythology, while ‘Mishima' could be linked to the author Yukio Mishima.
The post also featured &#8220;The Great Wave off Kanagawa&#8221; a woodblock print by the artist Hokusai, which was created during the Edo period.
While we don&#8217;t know for certain, the message could be alluding to Kusama&#8217;s eventual departure from the project, similar to his predecessor Ryoshi, or anticipating SHIB&#8217;s journey &#8220;to the moon.&#8221;
See Also: <a href="https://www.benzinga.com/markets/cannabis/24/10/41216960/kamala-harris-on-cannabis-and-crypto-key-questions-that-could-be-answered-on-60-minutes">Kamala Harris On Cannabis And Crypto: Key Questions That Could Be Answered On &#8217;60 Minutes&#8217;</a>
Why It Matters: Kusama has steered the Shiba Inu ecosystem ever since <a href="https://www.benzinga.com/markets/cryptocurrency/22/05/27466586/shiba-inu-founder-ryoshi-abruptly-deletes-all-posts-and-tweets">the abrupt exit of Ryoshi in 2022.</a> However, their real identity remains a mystery, akin to the speculation surrounding Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) creator Satoshi Nakamoto.
Earlier in July, Kusama stated that they were nearing completion of founder Ryoshi&#8217;s vision of a completely decentralized system with no leader and that he, too,<a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39679680/shiba-inus-shytoshi-kusama-to-go-into-oblivion-like-founder-ryoshi-i-also-will-step-away-f"> would &#8220;step away from the limelight&#8221;</a> at some point.
Price Action: At the time of writing, Bitcoin was exchanging hands at 0.00001755, down 0.41% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>.&nbsp;
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41242615/peter-todd-is-satoshi-nakamoto-bitcoin-core-developer-denies-hbo-documentary-claims-im-not">Peter Todd Is Satoshi Nakamoto? Bitcoin Core Developer Denies HBO Documentary Claims: &#8216;I&#8217;m Not Satoshi&#8217;</a></li>
</ul>

$BTC

$SHIB

Shiba Inu Lead Developer Shytoshi Kusama Reshares Mysterious Post About 'The Last Chapter To My Story'— Is He Hinting At An Exit From Project Or A Potential Moon Run?

Chinese stocks experienced a sharp selloff on Wednesday, continuing a volatile trend across Asia-Pacific markets. The Hang Seng Index (HSI) in Hong Kong dropped 1.39% to 20,635.11, following Tuesday&#8217;s devastating 9.41% plunge—its worst single-day <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41227136/chinese-stocks-plunge-as-stimulus-hopes-fade-hong-kong-posts-worst-daily-decline-si">loss since the 2008 financial crisis</a>.
What Happened: The mainland CSI 300 index also suffered, dropping 5.39%. This sharp reversal comes after weeks of robust performance that had positioned Chinese stocks among the top global performers year-to-date.
Tech giants bore the brunt of the downturn:
<ul>
<li>JD.com (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JD#NASDAQ">JD</a>) plummeted 7.52% on the Hong Kong stock exchange. </li>
<li>Alibaba (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BABAF#OTC">BABAF</a>) fell 2.78%</li>
<li>Baidu (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIDU#NASDAQ">BIDU</a>) lost 1.65% on HKEX</li>
<li>Tencent (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TCEHY#OTC">TCEHY</a>) declined 1.32%</li>
</ul>
Analysts attribute the selloff to investors locking in profits and growing disappointment over the <a href="https://www.benzinga.com/markets/asia/24/10/41223117/alibaba-tencent-jd-com-and-baidu-slide-over-8-as-chinas-28b-stimulus-boost-misses-the-mark">lack of aggressive fiscal stimulus</a> from Beijing. 
The contrast was stark in Japan, where the Nikkei 225 climbed 0.6%, highlighting the divergent market sentiments across the region.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/equities/24/10/41242937/cathie-woods-ark-invest-trades-bets-14m-on-amazon-shares-dumps-robinhood-stock-worth-36m-embrace">Cathie Wood&#8217;s Ark Invest Trades: Bets $14M On Amazon Shares — Dumps Robinhood Stock Worth $36M, Embraces Coinbase And Meta</a></li>
</ul>
Image Via Shutterstock 
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Asia

Equities

ALIBABA GROUP HOLDING LTD by Alibaba Group Holding Limited

BABAF

BIDU

TCEHY

Chinese Stocks Plunge As Hang Seng Drops 1.39%, Extending Volatile Streak — Tech Giants JD.com, Alibaba, Baidu Tread Red Waters

Renowned economist Peter Schiff poked fun at Michael Saylor, recommending that the MicroStrategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) boss buy the huge stash of Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) that the U.S. government planned to sell. 
What Happened: On Tuesday, Schiff took to X to express his views on the U.S. government&#8217;s decision to sell 69,370 BTC it had <a href="https://www.benzinga.com/markets/cryptocurrency/22/11/29596887/us-department-of-justice-seizes-3-36b-in-bitcoin-from-silk-road-dark-web-fraud">seized from the dark web marketplace</a> Silk Road. 
Earlier in the week, the Supreme Court <a href="https://x.com/lookonchain/status/1843692654653256195">declined </a>to hear a case challenging the government&#8217;s ownership of the seized funds, clearing the door for future liquidations.
&#8220;Every once in a while, the government does something smart. I think Michael Saylor should have MicroStrategy borrow another $4.3 billion and buy it,&#8221; Schiff said, mocking the company&#8217;s Bitcoin reserve strategy. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">It looks like the U.S. government is getting ready to sell 69,370 <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a>, worth about $4.3 billion at current market prices. Every once in a while, the government does something smart. I think <a href="https://twitter.com/saylor?ref_src=twsrc%5Etfw">@saylor</a> should have <a href="https://twitter.com/search?q=%24MSTR&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$MSTR</a> borrow another $4.3 billion and buy it. Who agrees with me?
&mdash; Peter Schiff (@PeterSchiff) <a href="https://twitter.com/PeterSchiff/status/1843789560804978695?ref_src=twsrc%5Etfw">October 8, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41242615/peter-todd-is-satoshi-nakamoto-bitcoin-core-developer-denies-hbo-documentary-claims-im-not">Peter Todd Is Satoshi Nakamoto? Bitcoin Core Developer Denies HBO Documentary Claims: &#8216;I&#8217;m Not Satoshi&#8217;</a>
Why It Matters: Schiff&#8217;s suggestion is particularly noteworthy given his previous criticism of Saylor and his approach to Bitcoin. He has previously <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/40057380/peter-schiff-hits-out-at-michael-saylor-slams-trend-of-having-bitcoin-on-balance-sheets-co">slammed the trend of companies including Bitcoin</a> on their balance sheets, arguing that it is a gamble with shareholder&#8217;s funds. 
He has also questioned the <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/40003571/peter-schiff-confronts-donald-trump-and-michael-saylors-never-sell-your-bitcoin-strategy-w">&#8216;never sell your Bitcoin&#8217; strategy</a> advocated by Saylor, also backed by presidential hopeful Donald Trump on the campaign trail.
The &#8220;Bitcoin strategy playbook&#8221; has been <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40776328/microstrategys-bitcoin-strategy-has-outperformed-every-s-p-500-company-and-even-nvidia-sin">successful in turning around</a> MicroStrategy&#8217;s fortunes, with the company&#8217;s stock surging by 1208% since August 2020, while Bitcoin itself rose just by 445%.
Price Action: At the time of writing, Bitcoin was exchanging hands at $62,296.78, down 0.51% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>. Shares of MicroStrategy bounced 3.28% during Tuesday&#8217;s regular trading hours. 
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MSTR

Peter Schiff Encourages MicroStrategy Founder Micheal Saylor To 'Borrow' Another $4.3B To Buy Bitcoin That US Plans To Sell: 'Once In A While, The Government Does Something Smart'

U.S. markets closed higher on Tuesday, with the Dow Jones Industrial Average rising 0.3% to 42,090.37 and the S&amp;P 500 gaining nearly 1%, finishing at 5,751.13. The Nasdaq surged 1.45%, closing at 18,182.92.
These are the top stocks that gained the attention of retail traders and investors throughout the day:
Palantir Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>)
Palantir&#8217;s stock soared by 6.58%, closing at $41.45 after hitting an intraday high of $41.49. The stock&#8217;s 52-week high and low stand at $41.49 and $14.48 respectively. Palantir Technologies shares surged on Tuesday after Ark Invest highlighted software firms like Palantir as having more potential to gain from the AI boom and take market share from tech giants.
Roblox Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RBLX#NYSE">RBLX</a>)
Roblox&#8217;s shares dipped by 2.13%, closing at $40.51, with an intraday low of $37.5. The stock&#8217;s 52-week range is $48.43 to $29.55. The decline was triggered by a <a href="https://www.benzinga.com/news/24/10/41230411/short-seller-hindenburg-issues-report-on-roblox-accuses-company-of-misleading-metrics">short report from Hindenburg Research</a>, accusing the gaming platform of inflating key user metrics.
See Also: <a href="https://www.benzinga.com/markets/equities/24/10/41220350/tesla-traders-wild-bet-on-elon-musks-company-ends-in-a-306m-lawsuit-spiral?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Tesla Trader&#8217;s Wild Bet On Elon Musk&#8217;s Company Ends In A $306M Lawsuit Spiral</a>
The Boeing Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>)
Boeing&#8217;s stock fell by 0.81%, closing at $154.65, with an intraday low of $154.14. The stock&#8217;s 52-week high and low are $267.54 and $149.49 respectively. The drop follows a <a href="https://www.benzinga.com/markets/equities/24/10/41236652/boeing-hit-with-737-safety-alert-issues-deliveries-warning-as-strike-continues">safety alert issued by the FAA</a> regarding a potential rudder system jam in Boeing 737 airplanes.
Robinhood Markets Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>)
Robinhood&#8217;s shares surged by 9.82%, closing at $25.61, with an intraday high of $25.8. The stock&#8217;s 52-week high and low are $25.8 and $7.91 respectively. The surge comes amid <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41236863/robinhood-eyes-major-growth-with-new-trading-features-while-coinbase-rides-crypto-s">analyst predictions of strong third-quarter performance</a> for exchange and trading companies.
Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)
Tesla&#8217;s stock rose by 1.52%, closing at $244.5, with an intraday high of $246.21. The stock&#8217;s 52-week high and low are $271 and $138.8 respectively. The rise comes ahead of Tesla&#8217;s <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/10/41238300/tesla-robotaxi-ambitions-come-as-most-americans-grow-wary-of-autonomous-tech">upcoming Robotaxi event</a>, despite a Pew Research survey indicating that 63% of American adults would not ride in a driverless vehicle.
Image via Shutterstock
Prepare for the day&#8217;s trading <a href="Premarket Movers &amp; News">with top premarket movers and news</a> by Benzinga.
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

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Palantir, Roblox, Boeing, Robinhood, Tesla: Why These 5 Stocks Are On Investors' Radars Today

ByteDance-owned TikTok is facing legal action from&nbsp;13 U.S. states and the&nbsp;District of Columbia.&nbsp;The states accuse TikTok of&nbsp;causing harm to its younger users.
What Happened: On Tuesday, separate lawsuits were filed&nbsp;in New York, California, the&nbsp;District of Columbia, and 11 other states, accusing TikTok of using software designed to keep children&nbsp;engaged for extended periods, reported Reuters.
The short-form&nbsp;video platform is also accused of misrepresenting the effectiveness of its content moderation.
California Attorney General Rob Bonta&nbsp;said,&nbsp;&#8220;TikTok cultivates social media addiction&nbsp;to boost corporate profits.&#8221; The states argue that TikTok seeks to maximize user engagement to target them with ads.
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/10/41196932/legendary-apple-co-founder-steve-jobs-once-said-being-the-richest-man-in-the-cemetery-doesnt-matter?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Legendary Apple Co-Founder Steve Jobs Once Said, &#8216;Being The Richest Man In The Cemetery Doesn&#8217;t Matter To Me:&#8217; Maybe That&#8217;s Why His Impact Transcends Financial Success For iPhone-Maker And Beyond</a>
New York Attorney General Letitia&nbsp;James stated,&nbsp;&#8220;Young people are struggling with&nbsp;their mental health because of addictive social media platforms like&nbsp;TikTok.&#8221;
TikTok responded to these allegations, saying that many are &#8220;inaccurate and misleading.&#8221; The company expressed disappointment that&nbsp;the states chose to sue&nbsp;rather than collaborate on solutions to industrywide challenges.
Washington D.C. Attorney General Brian&nbsp;Schwalb accused TikTok of operating&nbsp;an unlicensed money transmission business&nbsp;through its live streaming and&nbsp;virtual currency features, the report noted.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Why It Matters: This legal action against TikTok comes on the <a href="https://www.benzinga.com/news/24/04/38508391/after-biden-signs-tiktok-ban-into-law-top-eu-leader-says-not-ruling-out-action-against-chinese-platf">heels of a bill signed by</a> President Joe Biden, which could force TikTok&#8217;s parent company, ByteDance, to sell the company or face a ban in the U.S.
This also follows&nbsp;a nationwide probe of TikTok&#8217;s impact on young people launched by eight states in March 2022.
Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), which owns Instagram and Facebook, Snap Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNAP#NYSE">SNAP</a>), and 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>) YouTube could gain from <a href="https://www.benzinga.com/government/24/03/37710878/congress-moves-to-ban-tiktok-could-members-benefit-from-positions-in-social-media-stocks-like-meta-p">rising concerns about TikTok</a>.
According to Apptopia, TikTok has consistently outpaced other major social media apps, including Instagram, Facebook, Snapchat, YouTube, and X (formerly Twitter), in U.S. downloads every quarter since 2020.
However, when the ByteDance-owned platform was banned in India, platforms like YouTube, Instagram, and local short-video apps Moj and Josh experienced major user growth in the country, according to Sensor Tower.
With TikTok facing legal scrutiny, users may migrate to other platforms. Moreover, as advertisers reassess their strategies, they may shift their budgets toward platforms perceived as more stable or compliant with regulations.
Photo by XanderSt on Shutterstock
Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
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Disclaimer:&nbsp;This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

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TikTok Gets Sued: 13 States And DC Accuse Chinese Platform Of 'Boosting Corporate Profits' Via Social Media Addiction

Leading cryptocurrencies remained flat Tuesday, with Ethereum making modest gains, as falling oil prices boosted sentiment.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 9:45 p.m. EDT)</td>
</tr>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>-0.28%</td>
<td>$$62,418.83</td>
</tr>
<tr>
<td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>+1.23%</td>
<td>$2,463.51</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>-0.60%</td>
<td>$0.1087</td>
</tr>
</tbody>
</table>
</figure>
What Happened: Bitcoin spiked above $63,000 as markets opened, but the gains were reversed quickly, causing the apex cryptocurrency to wobble in the early $62,000 zone.
Ethereum moved sideways for much of the day until a sharp spike overnight pushed it to $2,470.  
Total cryptocurrency liquidations hit nearly $140 million in the last 24 hours, with long liquidations accounting for over 60% of the total.&nbsp;
Bitcoin's Open Interest rose 0.13% in the last 24 hours, indicating the opening of new short positions that may have caused a price decline.
The number of traders placing bearish bets on the coin continued to exceed those gunning for price increases, lending credence to the aforementioned claim.
The Cryptocurrency Fear &amp; Greed remained in the "Neutral" zone as of this writing.
Top Gainers (24-Hours)
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 9:45 p.m. EDT)</td>
</tr>
<tr>
<td>First Neiro On Ethereum (NEIRO)</td>
<td>+12.78%</td>
<td>$0.001909</td>
</tr>
<tr>
<td>EigenLayer (EIGEN)</td>
<td>+9.07%</td>
<td>$3.73</td>
</tr>
<tr>
<td>Monero (XMR)</td>
<td>+3.27%</td>
<td>$150.36</td>
</tr>
</tbody>
</table>
</figure>
The global cryptocurrency stood at $2.17 trillion, following a contraction of 0.29% in the last 24 hours.
Stocks clawed back sharply Tuesday following Monday's retrace.&nbsp;
Monday after closing last week on a high. The Dow Jones Industrial Average rose 126.13 points, or 0.30%, to close at 42,080.37. The broad-based index S&amp;P 500 gained 0.97%, ending at 5,751.13, while the tech-focused Nasdaq Composite spiked 1.45% to close at 18,182.92.
The rally coincided with a sharp fall in oil prices, with West Texas Intermediate (WTI) <a href="https://www.benzinga.com/markets/equities/24/10/41234113/crude-oil-falls-over-4-us-trade-deficit-narrows-in-august">trading down 4%</a> earlier in the day. As of this writing, WTI was valued at $73.60 a barrel as traders continued to weigh the economic and geopolitical implications of escalating <a href="https://www.benzinga.com/topic/middle-east">tensions in the Middle East.</a>
Furthermore, technology stocks helped power the rebound, with AI juggernaut NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) popping 4.05% during the regular session.
See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>
Analyst Notes: Widely-followed cryptocurrency analyst Rekt Capital stated that Bitcoin was currently in "no man's land."&nbsp;
The analyst added that King Crypto needed a daily close above $64,200 to enter the channel top and attempt an upside breakout.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> Bitcoin seems to be finding resistance at the $64200 (purple) level The reality is that Bitcoin is only one Daily Close above purple away from challenging the Channel Top (black) once again But at the moment, BTC is mid-channel, in no man&#39;s land<a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> <a href="https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw">#Crypto</a> <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <a href="https://t.co/nuoj4nKiXb">https://t.co/nuoj4nKiXb</a> <a href="https://t.co/cHyoeO9hGH">pic.twitter.com/cHyoeO9hGH</a>
&mdash; Rekt Capital (@rektcapital) <a href="https://twitter.com/rektcapital/status/1843606492785586273?ref_src=twsrc%5Etfw">October 8, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Cryptocurrency researcher Michaël van de Poppe, noting Ethereum's outperformance, predicted that it would eventually "take over" Bitcoin.&nbsp;
"Slowly, but surely, I think the beast will take over and continue to outperform, hence through which altcoins are likely going to do way better than 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"><a href="https://twitter.com/hashtag/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw">#Ethereum</a> outperforming Bitcoin today. Slowly, but surely, I think the beast will take over and continue to outperform, hence through which altcoins are likely going to do way better than Bitcoin. Crucial? Breakout above $65K for Bitcoin too.
&mdash; Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1843720136949411899?ref_src=twsrc%5Etfw">October 8, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Photo by stockphoto-graf on Shutterstock
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Bitcoin, Dogecoin Muted, Ethereum Gains Amid Stocks Rebound: Analyst Says ETH Surpassing BTC's Returns Inevitable — 'The Beast Will Take Over And Continue To Outperform'

Cathie Wood&#8217;s Ark Invest made significant trades in Amazon.com Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), Robinhood Markets Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>), and Coinbase Global Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>).
The Amazon Trade: Ark Invest purchased 76,505 shares of Amazon, despite recent concerns about the company&#8217;s growth trajectory. The trade was executed through its flagship ARK Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKK#NYSE">ARKK</a>).
This move came after <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41234873/amazon-stock-downgrade-by-wells-fargo-a-bearish-signal-on-growth-concerns">Wells Fargo downgraded</a> Amazon from Overweight to Equal-Weight, citing slowing growth and stiffer competition. The value of this trade, based on the closing price of $182.72, is approximately $13.98 million.
Amazon shares dropped Monday after Wells Fargo downgraded the stock, citing slowing growth and competition. The sell-off was <a href="https://www.benzinga.com/news/24/10/41216248/amazon-stock-is-sliding-monday-whats-going-on">also fueled</a> by a federal judge&#8217;s ruling allowing the FTC&#8217;s antitrust lawsuit against Amazon to proceed.
The Robinhood Trade: Ark Invest sold a total of 1,421,431 shares of Robinhood across three of its ETFs i.e. ARKK, ARK Next Generation Internet ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKW#NYSE">ARKW</a>) and Ark Fintech Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKF#NYSE">ARKF</a>). This decision came despite Robinhood&#8217;s recent announcement of its first investor day and the introduction of <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41236863/robinhood-eyes-major-growth-with-new-trading-features-while-coinbase-rides-crypto-s">new trading features</a>. The value of this trade, based on the closing price of $25.61, is approximately $36.4 million.
The Coinbase Trade: Ark Invest bought 12,994 shares of Coinbase through its ARKF ETF. This move aligns with the recent surge in Coinbase shares following the company&#8217;s announcement to <a href="https://www.benzinga.com/news/24/10/41191796/why-coinbase-global-shares-are-trading-higher-today">adjust its service offerings</a> in response to new European regulatory requirements. The value of this trade, based on the closing price of $167.69, is approximately $2.18 million.
See Also: <a href="https://www.benzinga.com/news/24/10/41208397/this-alibaba-analyst-turns-bullish-here-are-top-5-upgrades-for-monday?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">This Alibaba Analyst Turns Bullish; Here Are Top 5 Upgrades For Monday</a> 
Other Key Trades:
<ul>
<li>Ark purchased 2,365 shares of Meta Platforms Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) through its ARKW ETF. The Meta trade was valued at $1.4 million. On Tuesday, Meta shares closed 1.4% higher at $592.89.</li>
<li>Ark Invest sold shares of Veeva Systems Inc (VEEV) and shares of Vertex Pharmaceuticals Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRTX#NASDAQ">VRTX</a>) through its ARKG ETF. It bought shares of Recursion Pharmaceuticals Inc (RXRX) and shares of 10X Genomics Inc (TXG). </li>
</ul>
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

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Cathie Wood's Ark Invest Trades: Bets $14M On Amazon Shares — Dumps Robinhood Stock Worth $36M, Embraces Coinbase And Meta

Pfizer Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>) CEO Albert Bourla is set to meet with activist investor Starboard Value amid growing pressure to revitalize the pharmaceutical giant&#8217;s struggling share price and refine its strategic focus. The meeting comes as Starboard builds a $1 billion stake in Pfizer, equivalent to about 0.6% of the <a href="https://www.benzinga.com/markets/equities/24/10/41199793/amid-pfizers-struggles-with-declining-demand-for-covid-19-treatments-activist-investor-starboard">company&#8217;s $165 billion market value</a>.
What Happened: Bourla and at least one other director will hold talks with Starboard next week, following the revelation of the fund&#8217;s significant investment. The activist investor, led by CEO Jeff Smith, is calling for a strategy shift and has prepared an extensive slide deck outlining its turnaround plans, <a href="https://www.ft.com/content/38a73294-f6b0-48c8-a29a-8626c2da30d5">reported</a> the Financial Times citing people familiar with the matter.
The mounting pressure on Pfizer&#8217;s leadership comes as the company&#8217;s stock has <a href="https://www.benzinga.com/news/24/10/41212540/pfizer-stock-is-moving-higher-monday-whats-driving-the-action">fallen more than 30% over the past two years</a>, sinking below pre-pandemic levels. According to the report, critics argue that Pfizer has mismanaged its $92 billion COVID-19 windfall, particularly pointing to a costly $70 billion acquisition spree that has failed to boost the company&#8217;s valuation.
In an unusual twist, two of Pfizer&#8217;s former top executives, ex-CEO Ian Read and former CFO Frank D&#8217;Amelio, are reportedly collaborating with Starboard. The pair has reached out to at least four Pfizer directors, urging them to consider working with the activist investor, <a href="https://www.wsj.com/health/pharma/pfizer-ceos-job-is-at-risk-a-shot-of-discipline-could-help-1b210b18">reported</a> The Wall Street Journal.
Analysts and investors are speculating about potential management changes, with some receptive to the idea. However, others caution that a mere change at the top may not be sufficient to address Pfizer&#8217;s challenges, citing the importance of a promising drug pipeline for long-term success in the pharmaceutical industry.
"We've sensed investor frustration with CEO Albert Bourla since at least the beginning of 2023," BMO Capital Markets analyst&nbsp;Evan Seigerman&nbsp;wrote, according to WSJ.
Pfizer and Starboard Value did not immediately respond to&nbsp;<a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga</a>&#8216;s request for comment.
See Also: <a href="https://www.benzinga.com/news/24/10/41208397/this-alibaba-analyst-turns-bullish-here-are-top-5-upgrades-for-monday?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">This Alibaba Analyst Turns Bullish; Here Are Top 5 Upgrades For Monday</a>
Why It Matters: Starboard is expected to push for a more focused development strategy and deeper cost cuts beyond the $5.5 billion reduction already announced by Pfizer through 2027. Critics argue that Pfizer&#8217;s recent acquisitions, spanning neuroscience, blood disorders, and cancer, lack a clear, cohesive focus.
Bourla has acknowledged missing earnings expectations and weak commercial performance but maintains that investors haven&#8217;t fully appreciated the potential value of recent acquisitions, such as the $43 billion Seagen deal.
As pressure mounts, Bourla has shown signs of attentiveness to Wall Street critics. Earlier this year, he hired Andrew Baum, a former Pfizer bear at Citi, as chief strategy and innovation officer, in a move reminiscent of Novartis&#8216; hiring of outspoken analyst Ronny Gal.
In a bid to streamline its operations, Pfizer recently divested a $3.3 billion stake in Haleon, reducing its shareholding from 22.6% to 15%. Despite these efforts, the company remains <a href="https://www.benzinga.com/markets/equities/24/10/41112790/pfizer-divests-3-3b-stake-in-sensodyne-toothpaste-and-panadol-painkiller-maker-haleon">under pressure to deliver better financial returns</a> and strategic clarity.
Price Action: Pfizer&#8217;s stock closed on Tuesday at $29.18, down 0.068% during regular trading hours. However, in after-hours trading, the stock gained 0.31%. Year to date, Pfizer&#8217;s stock has fallen by 1.85%, according to <a href="https://www.benzinga.com/pro/">data from Benzinga Pro</a>.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/10/41201263/meta-stock-returns-pale-next-to-peter-thiels-secretive-data-company-even-as-mark-zuckerberg-comp?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Meta Stock Returns Pale Next To Peter Thiel&#8217;s Secretive Data Company Even As Mark Zuckerberg Company&#8217;s AI Advancements Generate Excitement</a></li>
</ul>
Image Via Shutterstock 
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

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