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Eric Jackson, the founder and portfolio manager at EMJ Capital, has shared his thoughts on the potential catalysts that could drive Bitcoin&#8217;s (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) value to $100,000.
What Happened: On Friday, Jackson appeared on CNBC&#8217;s Closing Bell and suggested that the upcoming Thanksgiving holiday, new SEC policies, and global adoption could spark Bitcoin&#8217;s next bull run.
During the interview, Jackson stated, &#8220;I think a lot of people that I talk to say, well, it&#8217;s just going to kiss $100,000 and pull back.&#8221;&nbsp;
Adding, &#8220;But I do think there&#8217;s a chance like that $100,000 milestone could be a rethink for a lot of investors both institutional, sovereign retail, and there are a bunch of catalysts ahead I think.&#8221;
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42052184/will-shiba-inu-coin-reach-1-cent-by-2025-47-of-benzinga-readers-say?itm_source=parsely-api">Will Shiba Inu Coin Reach 1 Cent By 2025? 47% Of Benzinga Readers Say…</a>
He went on to explain that the new SEC regime and the potential for a strategic reserve could be significant catalysts for Bitcoin.
Jackson also said that the Thanksgiving period often acts as a springboard for bullish crypto periods, rather than a setback.
He concluded by saying, &#8220;I think those names, you know, and the fact that they … there&#8217;s a real structure that&#8217;s going to be coming into place, around crypto and Bitcoin, I think those will be catalysts in and of themselves.&#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"><a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> hitting an all-time high again today on the path to $100K. How much longer can the supportive action continue? <a href="https://twitter.com/ericjackson?ref_src=twsrc%5Etfw">@EricJackson</a> discusses:<a href="https://t.co/Z3PZanYx4F">https://t.co/Z3PZanYx4F</a>
&mdash; CNBC&#39;s Closing Bell (@CNBCClosingBell) <a href="https://twitter.com/CNBCClosingBell/status/1860091069284962733?ref_src=twsrc%5Etfw">November 22, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Why It Matters: Earlier, Galaxy Digital Holdings Ltd. CEO Mike Novogratz warned of a potential pullback due to excessive market leverage, but maintained that Bitcoin <a href="https://www.benzinga.com/24/11/42130693/bitcoins-path-to-100k-inevitable-but-leverage-to-the-gills-warns-mike-novogratz-predicts-80k-correction-ahead">reaching $100,000 is &#8220;inevitable.&#8221;</a>
Meanwhile, MicroStrategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) executive chairman Michael Saylor has predicted that Bitcoin could hit $13 million by 2045, a valuation that would put Bitcoin's market <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42116183/michael-saylor-predicted-bitcoin-to-hit-13-million-if-it-happens-it-will-entail-massive-hyperinflation-analyst-warns">cap at around $250 trillion</a>.
Companies like MicroStrategy, which <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42121936/bitcoin-boom-20-microstrategy-gains-traction-as-a-leveraged-bet-on-crypto-growth">owns more than 150,000 Bitcoins</a>, are emerging as key players in this evolving market, effectively operating as a leveraged bet on the cryptocurrency.
In a note to Benzinga, Sumit Gupta, co-founder of CoinDCX, highlighted the surge in <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42135905/bitcoin-nears-100000-momentum-could-continue-well-beyond-the-milestone-experts-note">trading activity as a key driver</a>. He also pointed to developments in the U.S. political landscape as a contributing factor.
The digital asset market has already benefited from the <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42131449/with-gary-gensler-preparing-to-quit-in-2025-secs-crypto-cases-likely-to-quietly-go-away-amid-trumps-pro-bitcoin-stance-says-pantera-capitals-katrina-paglia">incoming administration</a> of President-elect Donald Trump, with many speculating that a potential second term could bring more favorable regulatory policies for crypto.
Gupta added that speculation over SEC Chair Gary Gensler's resignation and the possibility of crypto-friendly leadership has further fueled investor optimism.
Price Action: At the time of writing, Bitcoin was trading at $98,816, up nearly 0.2% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.
Read Next:
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<li><a href="https://www.benzinga.com/general/education/24/11/42098422/heres-how-much-100-invested-in-cardano-today-could-be-worth-if-ada-hits-new-all-time-highs?itm_source=parsely-api">Here&#8217;s How Much $100 Invested In Cardano Today Could Be Worth If ADA Hits New All-Time Highs</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Pixabay

Analyst Color

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

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$BTC

MSTR

Bitcoin's Road To $100K: Why Thanksgiving, New SEC Policies, And Global Adoption Could Spark The Next Bull Run, According To This Portfolio Manager

President-elect Donald Trump has picked hedge fund executive Scott Bessent as the U.S. Treasury Secretary.
What Happened: Bessent, 62 and founder of Key Square Group, was a leading candidate, <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42091821/could-donald-trumps-potential-treasury-secretary-be-out-of-his-depth-on-crypto-policy-polymarket-traders-just-cant-decide-on-a-favorite">competing with</a> former Fed Governor Kevin Warsh and private equity executive Marc Rowan.
While sharing the decision on Friday via his social media platform Truth Social, Trump lauded Bessent as "one of the World's foremost International Investors and Geopolitical and Economic Strategists."
<figure class="wp-block-image size-large"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/22205557/Screenshot-2024-11-23-at-7.25.49%E2%80%AFAM-900x1024.png" alt="" class="wp-image-661913" /><figcaption class="wp-element-caption">Source: Truth Social</figcaption></figure>
See Also: <a href="https://www.benzinga.com/news/legal/24/11/42147981/trumps-hush-money-sentencing-delayed-as-legal-immunity-debate-escalates">Trump&#8217;s Hush Money Sentencing Delayed As Legal Immunity Debate Escalates</a>
Bessent is known for his support of gradual tariffs and deregulation, aligning with Trump&#8217;s economic vision, which includes reviving manufacturing and achieving energy independence.
Despite his previous role as chief investment officer for George Soros' fund, Trump expressed confidence in Bessent&#8217;s ability to improve U.S. competitiveness and address trade imbalances.
Why It Matters: As Treasury Secretary, Bessent will replace outgoing Secretary Janet Yellen, overseeing financial institutions and combating financial crimes at a time when <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/42140842/sp-500-faces-volatile-2025-as-inflation-boom-could-return-bank-of-america-strategist">the national debt has ballooned to $36 trillion</a>.
According to <a href="https://www.benzinga.com/government/regulations/24/11/41909846/trumps-treasury-pick-frontrunner-scott-bessent-could-shift-wall-street-crypto">betting markets</a>, Bessent was a frontrunner with an 82% probability of securing the nomination. His appointment could significantly impact Wall Street and the crypto sector.
In October, Bessent assured that a new Trump administration would <a href="https://www.benzinga.com/economics/macro-economic-events/24/10/41308042/trump-adviser-defends-ex-presidents-economic-policies-strong-dollar-would-natural">support a strong dollar</a>, countering previous suggestions of a weaker dollar to boost exports.
Despite Elon Musk&#8217;s support for Howard Lutnick, <a href="https://www.benzinga.com/etfs/24/11/42044642/trump-appears-frustrated-as-elon-musk-chimes-in-on-treasury-secretary-adds-more-names-to-a-list-of-potential-picks">Trump favored Bessent&#8217;s</a> business-as-usual approach.
In July, Bessent gained attention for his optimistic stance on cryptocurrency, suggesting he might support digital assets if confirmed. &#8220;Crypto is about freedom and the crypto economy is here to stay,&#8221; he stated at the time.
The latest 13F filing from Bessent&#8217;s Key Square Group fund shows a highly concentrated portfolio, with equal investments in two banking-focused ETFs: the SPDR S&amp;P Regional Banking ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRE#NYSE">KRE</a>) and the SPDR S&amp;P Bank ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KBE#NYSE">KBE</a>), each making up 50% of the fund.
Read Next:
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<li><a href="https://www.benzinga.com/24/11/42146895/are-you-rich-enough-to-benefit-from-trumps-tax-breaks-heres-how-much-youd-need-to-be-part-of-the-top-5">Are You Rich Enough To Benefit From Trump&#8217;s Tax Breaks? Here&#8217;s How Much You&#8217;d Need To Be Part Of The Top 5%</a></li>
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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.
Photo courtesy: Shutterstock

Government

Regulations

Politics

Economics

Trump Picks Hedge Fund Exec Scott Bessent As Treasury Secretary: What President-Elect's Choice Means For America's Economic Future

APLMW

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

APLM

UBS analyst Jay Sole maintains Gap (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GAP#NYSE">GAP</a>) with a Sell and raises the price target from $14 to $16.

Price Target

Analyst Ratings

UBS Maintains Sell on Gap, Raises Price Target to $16

UBS analyst Mark Carden maintains BJ's Wholesale Club (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BJ#NYSE">BJ</a>) with a Buy and raises the price target from $102 to $108.

UBS Maintains Buy on BJ's Wholesale Club, Raises Price Target to $108

UBS analyst Steven Fisher maintains Deere (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DE#NYSE">DE</a>) with a Neutral and raises the price target from $404 to $462.

UBS Maintains Neutral on Deere, Raises Price Target to $462

UBS analyst Karl Keirstead maintains Salesforce (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NYSE">CRM</a>) with a Neutral and raises the price target from $275 to $360.

UBS Maintains Neutral on Salesforce, Raises Price Target to $360

Jefferies analyst Lloyd Byrne maintains Bloom Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BE#NYSE">BE</a>) with a Hold and raises the price target from $12 to $22.

Jefferies Maintains Hold on Bloom Energy, Raises Price Target to $22

Jefferies analyst Jonathan Petersen maintains SL Green Realty (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLG#NYSE">SLG</a>) with a Hold and raises the price target from $70 to $72.

Jefferies Maintains Hold on SL Green Realty, Raises Price Target to $72

Ocean Biomedical, Inc. (NASDAQ: OCEA), today announced that on November 18, 2024, it received a notice from The Nasdaq Stock Market LLC ("Nasdaq") stating that because the Company has not yet filed its Quarterly Report on Form 10-Q for the period ended September 30, 2024 (the "Form 10-Q"), the Company is not in compliance with Nasdaq Listing Rule 5250(c)(1), which requires listed companies to timely file all required periodic reports with the Securities and Exchange Commission (the "SEC").
Ocean Biomedical is delayed in filing the Form 10-Q as a result of previously disclosed developments with respect to filing of its 10-K for the year ended December 31, 2023.
The current notice will have no immediate effect on the listing or trading of Ocean Biomedical's common stock on Nasdaq, although there can be no assurances that further delays in the filing of the Form 10-Q will not have an impact on the listing or trading of the company's common stock. On October 16, 2024, Staff notified the Company that since it failed to timely file its Form 10-K for the year ended December 31, 2023, and its Forms 10-Q for the periods ended March 31, 2024 and June 30, 2024, the Company's securities were subject to delisting. The Company is now delinquent in the filing its form 10-Q for the period ended September 30, 2024. Accordingly, this matter serves as an additional basis for delisting the Company's securities from The Nasdaq Stock Market. This is formal notification that the Nasdaq Hearings Panel (the "Panel") will consider this matter in their decision regarding the Company's continued listing on The Nasdaq Capital Market, which hearing is scheduled for December 16, 2024. The Company intends to file the delinquent Forms 10-Q and 10-K as soon as practicable.

OCEA

Ocean Biomedical Announces Receipt Of Notice From Nasdaq Regarding Late Filing Of Quarterly Report

DA Davidson analyst Gil Luria maintains Procore Technologies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PCOR#NYSE">PCOR</a>) with a Neutral and raises the price target from $60 to $70.

PCOR

DA Davidson Maintains Neutral on Procore Technologies, Raises Price Target to $70

Chesapeake Utilities Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CPK#NYSE">CPK</a>) ("Chesapeake Utilities" or the "Company") today announced that it has established an at-the-market equity offering program (the "ATM Program") under which it may, from time to time, sell shares of its common stock having an aggregate sales price of up to $100,000,000 (the "Shares"). Chesapeake Utilities has entered into an equity distribution agreement with each of RBC Capital Markets, LLC, Barclays Capital Inc., Janney Montgomery Scott LLC, Ladenburg Thalmann &amp; Co. Inc., Guggenheim Securities, LLC, Citizens JMP Securities, LLC, M&amp;T Securities, Inc., Maxim Group LLC, PNC Capital Markets LLC, and Siebert Williams Shank &amp; Co., LLC (collectively, the "Sales Agents"), as sales agents. Pursuant to the equity distribution agreement, sales of the Shares may be made in transactions deemed to be "at-the-market offerings," as defined in Rule 415 under the Securities Act of 1933, as amended, including by sales made directly on or through the New York Stock Exchange. Chesapeake Utilities intends to use the proceeds from the sales, if any, of the Shares for general corporate purposes, including, but not limited to, financing of capital expenditures, repayment of short-term debt, financing acquisitions, investing in subsidiaries, and general working capital purposes.

Offerings

Chesapeake Utilities Corporation Announces $100M At-The-Market Equity Offering Program

DA Davidson analyst Gil Luria maintains NVIDIA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) with a Neutral and raises the price target from $90 to $135.

NVDA

DA Davidson Maintains Neutral on NVIDIA, Raises Price Target to $135

DA Davidson analyst Gil Luria maintains Elastic (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ESTC#NYSE">ESTC</a>) with a Neutral and raises the price target from $75 to $115.

ESTC

DA Davidson Maintains Neutral on Elastic, Raises Price Target to $115

<a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42131449/with-gary-gensler-preparing-to-quit-in-2025-secs-crypto-cases-likely-to-quietly-go-away-amid-trumps-pro-bitcoin-stance-says-pantera-capitals-katrina-paglia">President-elect Donald Trump</a> needs to find someone else to replace US Securities and Exchange Commission chair Gary Gensler. 
The Details: According to <a href="https://www.bloomberg.com/news/articles/2024-11-22/robinhood-s-gallagher-drops-out-of-sec-chair-consideration?sref=TBDibEcD">Bloomberg</a>, Dan Gallagher, chief legal officer at Robinhood Markets, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>) has removed himself from consideration as head of the SEC.
Gallagher expressed his intention to remain at Robinhood in an emailed statement. 
&#8220;It is always an honor to have your name in the mix for an incredibly important job like SEC Chairman. However, I have made it clear that I do not wish to be considered for this position,&#8221; Gallagher said.&nbsp;
&#8220;I am committed to Robinhood and our millions of customers who represent the new generation of retail investors.&#8221;
Read More: <a href="https://www.benzinga.com/general/social-media/24/11/42119493/rumble-eyes-buying-bitcoin-could-it-be-the-next-microstrategy">Rumble CEO Considers Bitcoin Investment, Engages Michael Saylor As Shares Rally</a>
Gallagher has been Robinhood's chief legal officer since 2020. He steered the company through the GameStop Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>) meme stock saga and Trump considered him a top <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41212008/trump-considers-robinhood-exec-dan-gallagher-for-sec-chair-if-re-elected">contender for the position</a>. He was a Republican SEC commissioner from 2011 to 2015, and previously served in other senior roles in the agency. 
The crypto community favored Gallagher, feeling he would <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41876266/bitcoin-blasts-past-82000-buy-everything-you-can-says-bernstein">help to advance</a> pro-crypto regulatory change.
Among the other names being floated for SEC chair include: Robert Stebbins, the SEC's former general counsel; Paul Atkins, former SEC commissioner; and Brian Brooks, former <a href="https://www.benzinga.com/trading-ideas/movers/24/11/42053981/trump-sec-pick-speculation-sends-this-altcoin-soaring-past-bitcoin-and-ethereum-in-daily-gains">cryptocurrency executive</a> and former acting comptroller of the currency. 
As for Gallagher, he will stay on as head legal counsel at Robinhood.&nbsp;
"I will remain a vocal and consistent advocate for positive change in our markets,&#8221; Gallagher said. He added that he is &#8220;excited to work with the incoming Trump Administration, including the next SEC Chairman and the SEC staff, to promote innovation and provide more opportunity for retail investors.&#8221;
Price Action: According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, Robinhood shares ended Friday's session up 4.45% at $36.65. 
Read Next:&nbsp;
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<li><a href="https://www.benzinga.com/trading-ideas/movers/24/11/41949068/bitcoin-could-reach-1-million-by-2037-economist-says-buy-of-a-lifetime-opportunity">Bitcoin Could Reach $1 Million By 2037, Economist Says: &#8216;Buy Of A Lifetime&#8217; Opportunity</a></li>
</ul>
Image: Shutterstock

Fintech news covering the emerging Financial Technology services sector

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Legal

HOOD

MKTX

Robinhood's Gallagher Bows Out Of SEC Chair Consideration Under Incoming Trump Administration

Jefferies analyst Omar Nokta maintains Navigator Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVGS#NYSE">NVGS</a>) with a Buy and maintains $20 price target.

NVGS

Jefferies Maintains Buy on Navigator Holdings, Maintains $20 Price Target

Despite widespread anticipation that NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>)'s quarterly results would dictate Wall Street's year-end trajectory, the stock market delivered a robust weekly rebound — even in the absence <a href="https://www.benzinga.com/quote/NVDA/news">of its AI darling.</a>
While the semiconductor titan beat analyst expectations on both earnings and revenue for the third quarter, Nvidia's stock remained flat for the week.
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>), the parent company of Google, faced sharp turbulence. Shares tumbled after the U.S. Department of Justice called for the divestiture of Chrome in a bid to curb Google's dominance in search and digital advertising.
The sell-off wiped out over $120 billion in market capitalization on Thursday alone.
A <a href="https://www.benzinga.com/tech/24/11/42140450/doj-targets-google-chrome-poll-shows-64-oppose-alphabet-breakup-youtube-seen-as-top-prize">recent Benzinga poll indicates</a> 64% of respondents oppose breaking up Alphabet, with YouTube viewed as the company's most valuable asset.
On the economic front, <a href="https://www.benzinga.com/economics/macro-economic-events/24/11/42141413/us-business-activity-soars-to-31-month-highs-in-november-small-caps-rally-dow-tops-44000">U.S. private sector activity expanded significantly</a> in November, as reflected in S&amp;P Global's Purchasing Managers' Index surveys. The services sector, in particular, surged at its fastest pace since March 2022, while price pressures continued to recede, creating less headwinds for the Federal Reserve.
Bitcoin&#8217;s (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) rally shows no signs of cooling, with the cryptocurrency notching its fourth consecutive week of gains and hovering around the <a href="https://www.benzinga.com/24/11/42130693/bitcoins-path-to-100k-inevitable-but-leverage-to-the-gills-warns-mike-novogratz-predicts-80k-correction-ahead">historic $100,000 threshold.</a>
The U.S. dollar also maintained its upward momentum, rising for the eighth straight week to <a href="https://www.benzinga.com/news/econ-s/24/11/42138717/dollar-hits-2-year-highs-as-europes-recession-signals-spark-euro-pound-sell-offs">reach two-year highs.</a> This latest rally, however, stemmed largely from external turmoil, as escalating geopolitical tensions between Russia and Ukraine, coupled with worsening economic momentum in Europe, triggered sharp weekly sell-offs in the euro and the British pound.
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President-elect Donald Trump advocates for increased fossil fuel production with his &#8220;drill, baby, drill&#8221; policy. In contrast, Elon Musk, co-leader of the proposed Department of Government Efficiency (DOGE), envisions a future dominated by solar energy. UBS analysts recommend investors consider renewable energy stocks following their <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/42130859/as-trump-backs-drill-baby-drill-his-doge-co-lead-elon-musk-believes-all-energy-generation-will-be-solar-heres-what-ubs-recommends-after-election-dip">election-induced market dip.</a>
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Cathie Wood of Ark Invest anticipates the Trump administration will provide regulatory clarity for Bitcoin and other digital assets, potentially incorporating them into <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42136536/ark-invests-cathie-wood-says-team-trump-would-give-regulatory-clarity-for-bitcoin-and-other-digital-assets-which-they-may-put-in-the-treasurys-strategic-reserve">the Treasury&#8217;s strategic reserve</a>.
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General Motors (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) is reportedly preparing to enter Formula One in 2026, potentially partnering with Andretti Autosport. This move would mark GM&#8217;s first foray into F1, aligning with its global <a href="https://www.benzinga.com/24/11/42135392/general-motors-gears-up-for-potential-f1-entry-in-2026-report">motorsport expansion strategy.</a>
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</ul>
Photo: Shutterstock

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GOOGL

Wall Street Rebounds Without Its AI Darling's Boost, King Dollar Maintains Dominance While Bitcoin Defies Gravity: This Week In The Markets

Rosenblatt analyst Catharine Trebnick maintains Zoom Video Comms (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZM#NASDAQ">ZM</a>) with a Buy and maintains $78 price target.

Rosenblatt Maintains Buy on Zoom Video Comms, Maintains $78 Price Target

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Synthetic biology refers to using engineered organisms to produce products for multiple industries. Specifically, the pharmaceutical, biotechnology, and agriculture sectors are set to benefit most from synthetic biology.



These are high-risk stocks overall. Firms in this industry face significant hurdles to reach commercialization. They also aim to solve high-impact problems. For that reason and others, they have serious potential to produce dramatic returns. Synthetic biology stocks will continue to be highly attractive in 2023 and beyond for investors with higher risk tolerances. Let&rsquo;s look at a handful of those companies that currently show strong potential.



<h2>Codexis (CDXS)</h2>


<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/07/biopharma-1600-300x169.jpg" alt="Illustration of a biopharma company. Doctor standing in front of various medical icons."><div>Source: Billion Photos / Shutterstock</div></div>


Codexis&nbsp;(NASDAQ:<a target="_blank" href="https://investorplace.com/stock-quotes/cdxs-stock-quote/">CDXS</a>) is a producer of enzymes and biopharmaceuticals. The company&rsquo;s main product is its enzyme engineering platform called CodeEvolver.&nbsp;



CodeEvolver allows firms to manufacture synthetic enzymes more efficiently than their natural counterparts. Another major benefit of synthetic enzymes is that they can be engineered to be more stable than in their natural form. CodeEvolver is attractive for that reason and allows enzymes that have a significantly extended shelf life relative to natural enzymes to be made.



The company is also developing another platform called ECO Synthesis, which manufactures RNAi therapeutics. The company expects that platform to be ready for Production purposes by the end of the year. RNAi stands for RNA interference and interrupts the expression of target genes.



Company-wide revenues have decreased this year but the company maintains a strong&nbsp;<a target="_blank" href="https://www.wsj.com/market-data/quotes/CDXS/research-ratings">outlook</a>&nbsp;on Wall Street. Further, Codexis has given guidance that it anticipates positive cash flow by the end of 2026. Based on ratings alone, it&rsquo;s reasonable to anticipate that an investment in Codexis could create 200% returns.



<h2>Ginkgo Bioworks (DNA)</h2>


<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/08/dna_ginkobioworks1600-300x169.png" alt="Person holding mobile phone with logo of American biotechnology company Ginkgo Bioworks Inc. on screen in front of web page. Focus on phone display. Unmodified photo. DNA stock"><div>Source: T. Schneider / Shutterstock.com</div></div>


Ginkgo Bioworks&nbsp;(NYSE:<a target="_blank" href="https://investorplace.com/stock-quotes/dna-stock-quote/">DNA</a>) Is among the more prominent stocks in the synthetic biology space. The company is located in Boston, Massachusetts, which is a leading hub in the biotechnology industry.



Ginkgo Bioworks is developing a platform that promises to, in the words of the company, enable customers to program cells as easily as we program computers. Like Codexis, Ginkgo Bioworks also enjoys a strong&nbsp;<a target="_blank" href="https://www.wsj.com/market-data/quotes/DNA/research-ratings">potential upside</a>&nbsp;based on Wall Street estimates.



Fundamentally, Ginkgo Bioworks is currently working through some issues.&nbsp;<a target="_blank" href="https://investors.ginkgobioworks.com/news/news-details/2023/Ginkgo-Bioworks-Reports-Third-Quarter-2023-Financial-Results/default.aspx">Revenues</a>&nbsp;in the third quarter fell from $66 million to $55 million. That said, there continues to be plenty of room for optimism regarding the company&rsquo;s stock.&nbsp;



The company added 21 new programs to its Foundry Platform, representing 40% growth. Further, it partnered with&nbsp;Alphabet&nbsp;(NASDAQ:<a target="_blank" href="https://investorplace.com/stock-quotes/goog-stock-quote/">GOOG</a>, NASDAQ:<a target="_blank" href="https://investorplace.com/stock-quotes/googl-stock-quote/">GOOGL</a>) which leverages the firm&rsquo;s cloud capabilities.



Most importantly, Ginkgo Bioworks entered into an agreement with&nbsp;Pfizer&nbsp;(NYSE:<a target="_blank" href="https://investorplace.com/stock-quotes/pfe-stock-quote/">PFE</a>) during the quarter. That agreement Includes potential developmental and commercial milestone payments worth as much as $331 million.&nbsp;



<h2>Amyris (AMRSQ)</h2>


<div>
<a href="https://investorplace.com/wp-content/uploads/2023/01/shutterstock_2007284921-scaled-e1673028735742.jpg"><img width="300" height="214" src="https://investorplace.com/wp-content/uploads/2023/01/shutterstock_2007284921-scaled-e1673028735742-300x214.jpg" alt="A plant grows out of a crack in the pavement."></a></div>


Amyris&nbsp;(OTCMKTS:<a target="_blank" href="https://investorplace.com/stock-quotes/amrsq-stock-quote/">AMRSQ</a>) Is the riskiest stock on this list of already risky stocks. The company leverages plant-based sugars to produce Synthetic chemicals. The company then sells those synthetic chemicals into end markets including cosmetics, fragrances, flavors and nutraceuticals.



The company voluntarily&nbsp;<a target="_blank" href="https://investors.amyris.com/2023-08-09-AMYRIS-ANNOUNCES-OPERATIONAL-AND-FINANCIAL-RESTRUCTURING-TO-ADVANCE-STRATEGIC-TRANSFORMATION">entered</a>&nbsp;Chapter 11 bankruptcy, which provided for restructuring. The decision to do so caused its share prices to plummet dramatically. When the announcement was made in early August share prices fell from 59 cents to one penny. Investors can pick up shares at that price currently.



Thus, there&rsquo;s a very reasonable argument to be made that Amyris continues to be a worthwhile investment. One reason to believe that is based on the lone Wall Street&nbsp;<a target="_blank" href="https://www.wsj.com/market-data/quotes/AMRSQ/company-people">rating</a>&nbsp;on its stock. That rating&nbsp;<a target="_blank" href="https://www.wsj.com/market-data/quotes/AMRSQ/company-people">values</a>&nbsp;Amyris stock at $1.50. Thus, it&rsquo;s mathematically feasible that an investment of $6,667 could turn into $1 million.



The company intends to restructure in order to focus on biofermentation as the main driver of its business. At one penny it remains one of the more interesting synthetic biology stocks available to investors.&nbsp;



On the date of publication, Alex Sirois did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com<a target="_blank" href="https://investorplace.com/corporate/investorplace-publishing-guidelines/">&nbsp;Publishing Guidelines</a>.
<div>Alex Sirois is a freelance contributor to InvestorPlace whose personal stock investing style is focused on long-term, buy-and-hold, wealth-building stock picks. Having worked in several industries from e-commerce to translation to education and utilizing his MBA from George Washington University, he brings a diverse set of skills through which he filters his writing.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2023/11/3-synthetic-biology-stocks-likely-to-mint-new-millionaires/">3 Synthetic Biology Stocks Likely to Mint New Millionaires</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

3 Synthetic Biology Stocks Likely to Mint New Millionaires

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