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Michael Saylor, executive chairman and co-founder of MicroStrategy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>), likened Bitcoin to &#8220;Manhattan in cyberspace,&#8221; describing it as a long-lasting asset in an interview on Wednesday.
What Happened:&nbsp;Saylor emphasized the unique nature of Bitcoin, highlighting its capped supply and its status as a global, digital commodity, in <a href="https://www.barrons.com/amp/articles/microstrategy-stock-michael-saylor-bitcoin-90e4cdc7">an</a> interview with Barron's.
"Bitcoin is actually a way to store value without a trusted intermediary. I'm putting my money in cyberspace, and I want to transform the capital from financial and physical to digital," Saylor said.
"It is indestructible, immortal, invisible, and you don't have all the things that drag down the value of a building. So think of it as Manhattan in cyberspace."
Saylor called the flow of money into Bitcoin to a flow of money from the 20th century to the 21st.
MicroStrategy&#8217;s strategy of leveraging Bitcoin has significantly impacted its stock performance. The company&#8217;s shares have surged 465% year-to-date, vastly outperforming the S&amp;P 500&#8217;s 27% gain.
Over the past two years, MicroStrategy&#8217;s stock has climbed an astonishing 1,773%, compared to the index&#8217;s 48% rise, according to Barron&#8217;s.
See Also:&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42232028/remember-james-howells-who-lost-his-hard-drive-with-8000-bitcoins-now-worth-760m-his-ex-girlfriend-reveals-it-was-she-who-threw-it-away?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Remember James Howells Who Lost His Hard Drive With 8,000 Bitcoins Now Worth $760M? His Ex-Girlfriend Reveals It Was She Who Threw It Away</a>
Saylor also discussed MicroStrategy&#8217;s capital-raising plan, which includes issuing stock to purchase Bitcoin. He stated that this approach allows the company to benefit from Bitcoin&#8217;s growth, which he believes yields more than the S&amp;P 500.
As for MicroStrategy's primary product, Saylor said it's now actually a &#8220;Bitcoin treasury company,&#8221; with its treasury operations significantly outpacing its software business in terms of earnings.
Why It Matters:&nbsp; Saylor&nbsp;has been a prominent advocate for Bitcoin, consistently promoting its potential as a valuable asset. In a recent interview, he revealed that&nbsp;MicroStrategy&nbsp;is <a href="https://www.benzinga.com/24/11/42151809/michael-saylor-reveals-microstrategy-is-making-500m-a-day-with-bitcoin-may-very-well-be-the-most-profitable-company-in-the-us-growing-the-fastest-right-now">generating $500 million daily</a> from Bitcoin as its value nears $100,000.
Saylor has also been vocal about the opportunity cost of not investing in Bitcoin. He criticized Warren Buffett <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42084722/warren-buffett-destroying-3b-a-month-of-berkshire-capital-by-not-investing-in-bitcoin-says-microstrategys-michael-saylor">for not utilizing</a> Berkshire Hathaway&#8217;s cash reserves to invest in Bitcoin, suggesting that it has resulted in significant capital destruction.
Moreover, Saylor&#8217;s approach to Bitcoin has <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41683531/michael-saylor-calls-microstrategy-the-public-equity-play-on-bitcoin-maximalism-heres-whos">positioned&nbsp;MicroStrategy</a>&nbsp;as a key player in the Bitcoin space, branding it as the &#8220;public equity play on Bitcoin maximalism."
Price Action: MicroStrategy's stock closed at $387.47 on Friday, falling slightly by 0.35%. Year-to-date, the stock has gained 465%, according to <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41683531/michael-saylor-calls-microstrategy-the-public-equity-play-on-bitcoin-maximalism-heres-whos">Benzinga Pro data</a>.
The MicroStrategy stock has a consensus rating of "Buy." The highest price target is $690, while the consensus price target is $449.50, implying a 16% upside.
Read Next:
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<li><a href="https://www.benzinga.com/24/11/42211279/warren-buffett-says-parents-should-do-this-one-thing-before-they-die-whether-they-are-rich-or-not">Warren Buffett Says Parents Should Do This One Thing Before They Die, Whether They Are Rich Or Not</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: Michael Saylor / MicroStrategy

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

Cryptocurrency

News

Markets

Tech

MSTR

MicroStrategy's Michael Saylor Calls Bitcoin The 'Manhattan In Cyberspace,' Says It's An Asset You Could Expect To 'Last 1,000 Years'

JPMorgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>)&nbsp;has decided to withdraw its lawsuit against&nbsp;Tesla Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), which was centered around a breach of contract involving stock warrants from 2014.
What Happened:&nbsp;This resolution was revealed through a court filing in Manhattan, indicating that both parties have agreed to&nbsp;drop their claims against each&nbsp;other, reported Reuters.
The lawsuit, initiated by JPMorgan in November 2021, sought $162.2 million. The bank alleged that Tesla breached the contract following a 2018 post by CEO Elon Musk, which suggested taking&nbsp;Tesla private at $420 per&nbsp;share.
This post, according to JPMorgan, led to significant stock price volatility, necessitating adjustments to the strike price of the warrants.
See Also:&nbsp;<a href="https://www.benzinga.com/markets/24/11/42207185/tesla-sweetens-referral-program-allowing-customers-to-earn-up-to-10000-as-elon-musks-ev-giant-races-to-500k-q4-delivery-target?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Tesla Sweetens Referral Program, Allowing Customers To Earn Up To $10,000 As Elon Musk&#8217;s EV Giant Races To 500K Q4 Delivery Target</a>
JPMorgan argued that the post required them to reprice the warrants, and Tesla&#8217;s failure to compensate for the subsequent stock price increase led to the lawsuit.
Tesla countersued in January 2023, accusing JPMorgan of attempting to gain a &#8220;windfall&#8221; through the repricing. The settlement terms remain undisclosed.
Why It Matters: The roots of this legal battle trace back to&nbsp;<a href="https://www.benzinga.com/news/18/08/12156605/musk-tweets-he-might-take-tesla-private-at-420">Elon Musk&#8217;s post</a>&nbsp;in August 2018, where he mentioned considering taking&nbsp;Tesla private at $420 per&nbsp;share, claiming to have secured funding.
This caused a spike in Tesla&#8217;s stock price and led to a series of events, including a&nbsp;<a href="https://www.benzinga.com/news/18/09/12421558/sec-charges-tesla-ceo-elon-musk-with-fraud-for-funding-secured-tweets">fraud charge</a>&nbsp;by the SEC against Musk.
The lawsuit by JPMorgan, filed in&nbsp;<a href="https://www.benzinga.com/news/21/11/24113326/tesla-sued-by-jpmorgan-over-refusing-to-pay-up-162m-in-dispute-over-warrants">November 2021</a>, was a direct result of the financial implications of Musk&#8217;s post. The settlement marks the end of a prolonged legal dispute that has been closely watched by investors and industry observers.
Price Action: Tesla stock closed at $345.16 on Friday, up 3.7%. The stock is up nearly 39% year-to-date, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.
The Tesla stock has a consensus rating of "Neutral." The highest price target is $400, while the consensus price target is $232.20, implying a 33% downside.
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="944" height="351" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/30012135/Tesla-rating-1.jpg" alt="" class="wp-image-670988" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/30012135/Tesla-rating-1.jpg 944w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/30012135/Tesla-rating-1-300x112.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/30012135/Tesla-rating-1-768x286.jpg 768w" sizes="(max-width: 944px) 100vw, 944px" /></figure>
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 Next:
<ul>
<li><a href="https://www.benzinga.com/24/11/42231528/tesla-offers-lease-buyout-option-for-all-models-despite-elon-musks-robotaxi-ambitions-could-autonomous-driving-be-further-away?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Tesla Offers Lease Buyout Option For All Models, Including Cybertruck, Despite Elon Musk&#8217;s Robotaxi Ambitions</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image made via photos on Shutterstock

Equities

Legal

TSLA

JPMorgan, Tesla Settle 3-Year-Old Dispute Over Stock Warrants

Cryptocurrency investor and Tron (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/trx/usd">TRX</a>) founder Justin Sun has eaten a <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42116475/paying-6-24-million-for-a-duct-taped-banana-justin-sun-did-just-that-and-now-hell-eat-it-as-part-of-this-unique-artistic-experience">$6.2 million duct-taped banana artwork</a>, asserting its conceptual value and drawing parallels to digital assets like NFTs.
What Happened: Sun, who outbid six others at a Sotheby&#8217;s auction in New York on Nov. 20, consumed the pricey fruit at a news conference in Hong Kong on Friday.
The artwork, named &#8220;Comedian,&#8221; was initially presented by Italian visual artist Maurizio Cattelan at the Art Basel Fair Miami in 2019.
See Also: <a href="https://www.benzinga.com/24/11/42228090/bitcoin-ethereum-dogecoin-surge-as-traders-raise-risk-appetite-ahead-of-thanksgiving-analyst-says-eth-could-jump-to-highs-not-seen-since-late-2021?itm_source=parsely-api">Bitcoin, Ethereum, Dogecoin Surge As Traders Raise Risk Appetite Ahead Of Thanksgiving: Analyst Sets Mid-Term Price Target For ETH At $6K</a>
&#8220;To be honest, for a banana with such a back story, the taste is naturally different from an ordinary one,&#8221; Sun posted on X, formerly Twitter.
<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">Many friends have asked me about the taste of the banana. To be honest, for a banana with such a back story, the taste is naturally different from an ordinary one. I could discern a hint of what Big Mike bananas from 100 years ago might have tasted like. &#x1f34c; <a href="https://t.co/Sz6zaePGpv">pic.twitter.com/Sz6zaePGpv</a>
&mdash; H.E. Justin Sun &#x1f34c; (@justinsuntron) <a href="https://twitter.com/justinsuntron/status/1862512985346121735?ref_src=twsrc%5Etfw">November 29, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
The banana showcased at Sotheby&#8217;s was procured for 35 cents from a New York City fruit vendor. Sun has expressed his intention to buy 100,000 more bananas from the original vendor. He ate a replacement banana bought in Hong Kong at the event.
&#8220;The real value is the concept itself,&#8221; he said, equating &#8220;Comedian&#8221; to digital assets such as NFTs.
&#8220;This conceptual artwork can be assembled and disassembled anywhere and at any time conveniently and in any place in the world,&#8221; he further elaborated.
Why It Matters: This event mirrors previous performances by artist David Datuna in 2019 and a South Korean university student in 2023.
Earlier this year in October, Sun was appointed as the <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41285570/tron-founder-justin-sun-appointed-prime-minister-of-a-crypto-focused-micronation-in-europe">Prime Minister of Liberland</a>, a self-proclaimed micronation that operates on a cryptocurrency and blockchain-based economy.
This appointment came after a notable career setback for him. In April 2023, Sun was removed from his position as <a href="https://www.benzinga.com/markets/cryptocurrency/23/04/31614541/grenada-takes-a-stand-tron-blockchain-founder-justin-sun-loses-wto-rep-role-amid-sec-lawsu">Grenada's Ambassador</a> to the World Trade Organization (WTO) due to an SEC lawsuit filed against him.
He held the ambassadorial role since November 2021 and represented Grenada at the WTO's 12th Ministerial Conference. Despite this, he still refers to himself with the title H.E. ("His Excellency") on his official X account.
Price Action: At the time of writing, TRX, the native cryptocurrency of Tron, was trading at $0.2041, reflecting a 1.23% increase over the past 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>.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/24/11/42225289/heres-how-much-100-invested-in-xrp-token-today-will-be-worth-if-crypto-returns-to-all-time-highs?itm_source=parsely-api">Here&#8217;s How Much $100 Invested In XRP Token Today Will Be Worth If Crypto Returns To 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: Shutterstock

General

$TRX

Costliest Snack Ever? Crypto Investor And Tron Founder Justin Sun Eats $6.2M Duct-Taped Banana: 'The Real Value Is The Concept Itself'

Canadian Prime Minister Justin Trudeau could speak to President-elect Donald Trump about the potential negative impacts of his proposed 25% tariff plan on American and Canadian citizens.
What Happened: Trudeau and Trump had a high-stakes dinner at Mar-a-Lago on Friday, <a href="https://edition.cnn.com/2024/11/29/politics/donald-trump-justin-trudeau-dinner/index.html">reported</a> CNN, citing a source familiar with the meeting.
This meeting is taking place shortly after Trump announced his plans to significantly increase tariffs on goods from Mexico and Canada, starting from the first day of his administration.
During a morning conference, Trudeau voiced his concerns, stating, &#8220;Our responsibility is to point out that in this way he would be actually not just be harming Canadians, who work so well with the U.S.; he'd actually be raising prices for American citizens as well and hurting American industry and businesses.&#8221;
See Also: <a href="https://www.benzinga.com/24/11/42231794/mark-cuban-says-his-doors-are-open-for-musk-and-ramaswamy-can-doge-leverage-his-cost-plus-drug-company-to-transform-federal-healthcare-programs?itm_source=parsely-api">Will Mark Cuban Join Rivals Elon Musk, Vivek Ramaswamy&#8217;s DOGE? &#8216;Shark Tank&#8217; Host Says &#8216;Both Know How To Reach Me&#8217;</a>
Trump&#8217;s proposed tariffs could disrupt America&#8217;s supply chains and industries that rely on goods from its closest trading partners.
The two leaders had a brief call focused on border security and trade after Trump&#8217;s announcement, which a senior Canadian government source described as productive, the report noted.
During Trump&#8217;s first administration, the U.S. and Canada had a strained relationship, especially on trade issues.
Trump used tariffs against Canada during negotiations over replacing the North American Free Trade Agreement. It remains unclear how Trump plans to implement the proposed tariffs without violating the USMCA.
Why It Matters: Trump&#8217;s tariff announcement <a href="https://www.benzinga.com/24/11/42178994/trump-says-he-will-impose-25-tariffs-on-canada-mexico-on-first-day-of-office-and-extra-tariffs-on-china-until-they-pay-attention">came in response</a> to what he described as an &#8220;invasion&#8221; due to the increasing number of people crossing the borders from Mexico and Canada into the U.S.
According to Goldman Sachs, Trump&#8217;s tariff proposal could cause <a href="https://www.benzinga.com/economics/macro-economic-events/24/11/42202496/goldman-sachs-expects-major-selloffs-in-canadian-dollar-mexican-peso-says-trump-tariffs-threaten-usmca-agreement">significant fallout for</a> trade flows, exchange rates, and consumer prices. Mexico, Canada, and China collectively make up 43% of U.S. goods imports.
In response to Trump&#8217;s threats, Canada has also reportedly started preparing for <a href="https://www.benzinga.com/24/11/42225506/canada-prepares-retaliatory-tariffs-as-trumps-threat-looms-analysts-warn-of-further-loonie-weakness">potential retaliatory tariffs</a> on U.S. goods.
Analysts have also warned that the <a href="https://www.benzinga.com/economics/macro-economic-events/24/11/42240108/trump-tariffs-could-hit-pockets-of-consumers-retailers-urge-customers-to-shore-up-purchases-experts-warn-a-stronger-dollar-might-still-not-make-up-for-deficit">proposed tariffs could lead</a> to a stronger dollar, affecting consumers and businesses alike.
Read Next:
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<li><a href="https://www.benzinga.com/general/entertainment/24/11/42223923/trump-hhs-pick-robert-f-kennedy-jr-s-wealth-comes-from-family-law-practice-oil-bitcoin?itm_source=parsely-api">Trump HHS Pick Robert F. Kennedy Jr.&#8217;s Wealth Comes From Family, Law Practice, Oil, Bitcoin</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.
Photo courtesy: Shutterstock

Politics

Economics

Media

Canadian PM Justin Trudeau Warns Trump's 25% Tariff Plan Will Hurt Americans At High-Stakes Dinner

Cryptocurrency markets are closing Friday strong, with Bitcoin&#8217;s performance paving the <a href="https://www.benzinga.com/topic/altcoins">way for altcoin gains.</a>
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Price&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>Gains +/-</td>
</tr>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>&nbsp;$97,590</td>
<td>+2.8%</td>
</tr>
<tr>
<td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)</td>
<td>&nbsp;$3,600</td>
<td>+1.0%</td>
</tr>
<tr>
<td>Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)</td>
<td>&nbsp;$242.66</td>
<td>+2.8%</td>
</tr>
<tr>
<td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)</td>
<td>&nbsp;$0.4355</td>
<td>+9.6%</td>
</tr>
<tr>
<td>Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>)</td>
<td>&nbsp;$0.00002621</td>
<td>+4.0%</td>
</tr>
</tbody>
</table>
</figure>
Notable Statistics:
<ul>
<li>IntoTheBlock data shows large transaction volume decreasing by 22.6% and daily active addresses falling by 8%. Exchanges netflows are up by 188%.</li>
<li>Coinglass data reports 86,529 traders were liquidated in the past 24 hours for $242 million, with $150 million being liquidated short positions.</li>
</ul>
Notable Developments:
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42250465/dogecoin-price-up-65-what-is-going-on">Dogecoin Price Up 6.5%: What Is Going On?</a></li>
<li><a href="https://www.benzinga.com/etfs/specialty-etfs/24/11/42246620/xrp-price-soars-20-in-24-hours-why-is-xrp-up">XRP Price Soars 20% In 24 Hours: Why Is XRP Up?</a></li>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42247693/dogecoin-etf-coming-in-2025-i-think-someones-going-to-try-says-etf-analyst">Dogecoin ETF Coming In 2025? &#8216;I Think Someone&#8217;s Going To Try,&#8217; Says ETF Analyst</a></li>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42244078/vladimir-putin-signs-bitcoin-mining-crypto-taxation-law">Vladimir Putin Signs Bitcoin Mining, Crypto Taxation Law</a></li>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42245202/peter-schiff-bitcoin-reserve-is-the-worst-monetary-mistake-us-could-make">Peter Schiff: Bitcoin Reserve Is The &#8216;Worst Monetary Mistake&#8217; US Could Make</a></li>
</ul>
Top Gainers:
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Price&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>Gains +/-</td>
</tr>
<tr>
<td>Algorand (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/algo/usd">ALGO</a>)</td>
<td>&nbsp;$0.4318</td>
<td>+42.3%</td>
</tr>
<tr>
<td>Hedera (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/hbar/usd">HBAR</a>)</td>
<td>&nbsp;$0.17</td>
<td>+18.9%</td>
</tr>
<tr>
<td>XRP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>)</td>
<td>&nbsp;$1.74</td>
<td>+17.7%</td>
</tr>
</tbody>
</table>
</figure>
Trader Notes: Daniel Cheung, co-founder of Syncracy Capital, <a href="https://x.com/HighCoinviction/status/1862596640793612426">speculates</a> that altcoins will &#8220;rip 50% in a day&#8221; once Bitcoin breaks $100,000.
Trader Bluntz highlights a bullish chart pattern for Dogecoin playing out, <a href="https://x.com/Bluntz_Capital/status/1862587386036985898">saying</a>, &#8220;things are about to get fun again.&#8221;
Popular crypto analyst Michaёl van de Poppe sees this as the &#8220;institutional and governmental cycle,&#8221; flagging discussions around Bitcoin as a strategic reserve in the U.S. and Brazil, while Russia recognizes Bitcoin as property.
&#8220;It&#8217;s actually an insane period,&#8221; the analyst concludes. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">It&#39;s actually an insane period. &#8211; Trump looking to add <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> as strategic reserve. &#8211; A bill proposing the same in Brazil. &#8211; Russia recognising <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> &amp; <a href="https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw">#Crypto</a> as property. It&#39;s the institutional &amp; governmental cycle. This goes way higher than we all wish for.
&mdash; Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1862587340528537993?ref_src=twsrc%5Etfw">November 29, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42232028/remember-james-howells-who-lost-his-hard-drive-with-8000-bitcoins-now-worth-760m-his-ex-girlfriend-reveals-it-was-she-who-threw-it-away">Remember James Howells Who Lost His Hard Drive With 8,000 Bitcoins Now Worth $760M? His Ex-Girlfriend Reveals It Was She Who Threw It Away (CORRECTED)</a></li>
</ul>
Image: Shutterstock

$ALGO

$BTC

$DOGE

$ETH

$HBAR

$SHIB

$SOL

$XRP

Bitcoin, Ethereum, Dogecoin Climb, But Ripple Rockets: Analyst Calls It 'An Insane Period'

FTCI

Trading Halt: Halted at 4:50:00 p.m. ET - Trading Halt: Halt News Pending

Citigroup analyst Yigal Nochomovitz maintains Applied Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APLT#NASDAQ">APLT</a>) with a Buy and lowers the price target from $13 to $8.

Price Target

Analyst Ratings

APLT

Citigroup Maintains Buy on Applied Therapeutics, Lowers Price Target to $8

JP Morgan analyst Lisa Gill maintains Privia Health Gr (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PRVA#NASDAQ">PRVA</a>) with a Overweight and raises the price target from $27 to $28.

PRVA

JP Morgan Maintains Overweight on Privia Health Gr, Raises Price Target to $28

JP Morgan analyst Jeremy Tonet maintains Kodiak Gas Services (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KGS#NYSE">KGS</a>) with a Neutral and raises the price target from $34 to $42.

JP Morgan Maintains Neutral on Kodiak Gas Services, Raises Price Target to $42

The Q3 earnings report for Globus Maritime (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GLBS#NASDAQ">GLBS</a>) was released on Friday, November 29, 2024 at 04:00 PM.
Here's what investors need to know about the latest announcement.
<h3>Earnings</h3>
Globus Maritime beat estimated earnings by 70.0%, reporting an EPS of $-0.03 versus an estimate of $-0.1.
Revenue was up $1.27 million from the same period last year.
<h3>Performance in Previous Earnings</h3>
The company beat on EPS by $0.12 in the previous quarter, leading to a 2.0% increase share price change the next day.
Here's a look at Globus Maritime's past performance:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q2 2024</th>
<th>Q1 2024</th>
<th>Q4 2023</th>
<th>Q3 2023</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>0.04</td>
<td>-0.02</td>
<td>-0.10</td>
<td></td>
</tr>
<tr>
<td>EPS Actual</td>
<td>0.16</td>
<td>-0.01</td>
<td>0.02</td>
<td>0.17</td>
</tr>
<tr>
<td>Revenue Estimate</td>
<td>7.80M</td>
<td>8.00M</td>
<td>5.80M</td>
<td>12.30M</td>
</tr>
<tr>
<td>Revenue Actual</td>
<td>9.52M</td>
<td>7.71M</td>
<td>7.11M</td>
<td>7.68M</td>
</tr>
</tbody>
</table>

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

Earnings

GLBS

Globus Maritime: Q3 Earnings Insights

<h3>Gainers</h3>
<ul>
<li>Lion Group Holding (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LGHL#NASDAQ">LGHL</a>) shares increased by 22.5% to $0.21 during Friday's pre-market session. The market value of their outstanding shares is at $5.1 million. </li>
<li>X Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XYF#NYSE">XYF</a>) shares increased by 14.32% to $8.3. The market value of their outstanding shares is at $393.5 million. As per the news, the Q3 earnings report came out 3 days ago. </li>
<li>Patriot Ntl Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PNBK#NASDAQ">PNBK</a>) stock rose 9.99% to $1.98. The company's market cap stands at $7.8 million. </li>
<li>XChange Tec (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XHG#NASDAQ">XHG</a>) shares rose 9.74% to $1.69. The company's market cap stands at $190.3 million. </li>
<li>Berkshire Hills Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BHLB#NYSE">BHLB</a>) shares rose 6.79% to $33.0. The company's market cap stands at $1.4 billion. </li>
<li>Kingstone Companies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KINS#NASDAQ">KINS</a>) shares rose 6.58% to $17.0. The market value of their outstanding shares is at $209.9 million. </li>
</ul>
<h3>Losers</h3>
<ul>
<li>Inter &amp; Co (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTR#NASDAQ">INTR</a>) stock decreased by 16.7% to $4.4 during Friday's pre-market session. The company's market cap stands at $1.9 billion. </li>
<li>Hilltop Hldgs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HTH#NYSE">HTH</a>) stock fell 15.67% to $26.82. The company's market cap stands at $1.7 billion. </li>
<li>XP (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XP#NASDAQ">XP</a>) stock decreased by 9.37% to $13.55. The company's market cap stands at $7.2 billion. </li>
<li>Bank Bradesco (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBDO#NYSE">BBDO</a>) stock fell 8.42% to $1.85. The market value of their outstanding shares is at $19.6 billion. </li>
<li>StoneCo (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STNE#NASDAQ">STNE</a>) shares fell 8.36% to $9.54. The market value of their outstanding shares is at $2.9 billion. </li>
<li>Essent Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ESNT#NYSE">ESNT</a>) stock declined by 8.2% to $53.01. The company's market cap stands at $5.6 billion. 
See Also: <a href="http://www.benzinga.com/money/best-financial-services-stocks/" title="www.benzinga.com/money/best-financial-services-stocks/">www.benzinga.com/money/best-financial-services-stocks/</a></li>
</ul>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Movers

BBDO

BHLB

ESNT

INTR

KINS

LGHL

PNBK

STNE

12 Financials Stocks Moving In Friday's Pre-Market Session

<h3>Gainers</h3>
<ul>
<li>Super Hi International (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HDL#NASDAQ">HDL</a>) stock increased by 15.1% to $19.48 during Friday's pre-market session. The company's market cap stands at $1.1 billion. As per the news, the Q3 earnings report came out 4 days ago. </li>
<li>Leslies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LESL#NASDAQ">LESL</a>) shares rose 8.86% to $2.7. The market value of their outstanding shares is at $499.3 million. As per the press release, Q4 earnings came out 4 days ago. </li>
<li>Foresight Autonomous (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FRSX#NASDAQ">FRSX</a>) stock moved upwards by 8.19% to $0.66. The company's market cap stands at $10.1 million. </li>
<li>Jianzhi Education Tech (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JZ#NASDAQ">JZ</a>) stock increased by 8.15% to $1.11. The market value of their outstanding shares is at $31.2 million. </li>
<li>Lottery.com (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LTRY#NASDAQ">LTRY</a>) stock increased by 7.98% to $0.35. The market value of their outstanding shares is at $3.4 million. </li>
<li>Birks Group (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/BGI#AMEX">BGI</a>) stock increased by 7.86% to $1.7. The company's market cap stands at $32.6 million. </li>
</ul>
<h3>Losers</h3>
<ul>
<li>Dogness (Intl) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DOGZ#NASDAQ">DOGZ</a>) stock fell 14.4% to $44.4 during Friday's pre-market session. The market value of their outstanding shares is at $565.2 million. </li>
<li>EpicQuest Education Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EEIQ#NASDAQ">EEIQ</a>) stock declined by 10.37% to $0.92. The market value of their outstanding shares is at $11.9 million. </li>
<li>Ambow Education Holding (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/AMBO#AMEX">AMBO</a>) stock fell 10.16% to $1.77. The market value of their outstanding shares is at $5.0 million. </li>
<li>Interactive Strength (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TRNR#NASDAQ">TRNR</a>) shares declined by 9.86% to $3.11. The company's market cap stands at $2.8 million. </li>
<li>Mynd.ai (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/MYND#AMEX">MYND</a>) stock declined by 6.75% to $2.15. The company's market cap stands at $98.1 million. </li>
<li>Vroom (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRM#NASDAQ">VRM</a>) stock fell 6.04% to $4.98. The company's market cap stands at $9.0 million. 
See Also: <a href="http://www.benzinga.com/money/best-consumer-cyclical-stocks/" title="www.benzinga.com/money/best-consumer-cyclical-stocks/">www.benzinga.com/money/best-consumer-cyclical-stocks/</a></li>
</ul>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

AMBO

DOGZ

EEIQ

FRSX

LESL

LTRY

MYND

TRNR

12 Consumer Discretionary Stocks Moving In Friday's Pre-Market Session

<h3>Gainers</h3>
<ul>
<li>Cabaletta Bio (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CABA#NASDAQ">CABA</a>) shares rose 26.9% to $3.82 during Friday's pre-market session. The market value of their outstanding shares is at $186.6 million. </li>
<li>Biomerica (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BMRA#NASDAQ">BMRA</a>) stock increased by 19.74% to $0.39. The market value of their outstanding shares is at $6.4 million. </li>
<li>Passage Bio (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PASG#NASDAQ">PASG</a>) stock rose 17.01% to $0.78. The company's market cap stands at $48.1 million. </li>
<li>SILO Pharma (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SILO#NASDAQ">SILO</a>) stock rose 14.44% to $1.03. The market value of their outstanding shares is at $4.6 million. </li>
<li>Alterity Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ATHE#NASDAQ">ATHE</a>) stock increased by 12.84% to $1.23. The market value of their outstanding shares is at $10.7 million. </li>
<li>IO Biotech (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IOBT#NASDAQ">IOBT</a>) shares rose 11.76% to $0.95. The company's market cap stands at $62.5 million. </li>
</ul>
<h3>Losers</h3>
<ul>
<li>Applied Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APLT#NASDAQ">APLT</a>) stock fell 74.5% to $2.19 during Friday's pre-market session. The market value of their outstanding shares is at $254.8 million. </li>
<li>Journey Medical (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DERM#NASDAQ">DERM</a>) stock declined by 13.52% to $4.8. The market value of their outstanding shares is at $100.2 million. </li>
<li>Grifols (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GRFS#NASDAQ">GRFS</a>) shares declined by 12.64% to $7.05. The company's market cap stands at $4.7 billion. </li>
<li>Nutriband (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTRB#NASDAQ">NTRB</a>) stock fell 12.38% to $4.25. The company's market cap stands at $47.1 million. </li>
<li>TC BioPharm (Holdings) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TCBP#NASDAQ">TCBP</a>) stock declined by 10.37% to $0.54. </li>
<li>Accuray (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARAY#NASDAQ">ARAY</a>) shares declined by 9.96% to $1.9. The company's market cap stands at $191.0 million. 
See Also: <a href="http://www.benzinga.com/money/best-healthcare-stocks/" title="www.benzinga.com/money/best-healthcare-stocks/">www.benzinga.com/money/best-healthcare-stocks/</a></li>
</ul>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

ARAY

Alterity Therapeutics Limited - American Depositary Shares

ATHE

BMRA

CABA

DERM

GRFS

IOBT

NTRB

PASG

SILO

TCBP

12 Health Care Stocks Moving In Friday's Pre-Market Session

<h3>Gainers</h3>
<ul>
<li>Unusual Machines (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/UMAC#AMEX">UMAC</a>) stock rose 44.8% to $14.32 during Friday's pre-market session. The company's market cap stands at $118.8 million. </li>
<li>Ondas Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ONDS#NASDAQ">ONDS</a>) stock rose 31.53% to $1.14. The market value of their outstanding shares is at $88.1 million. </li>
<li>NextTrip (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTRP#NASDAQ">NTRP</a>) stock moved upwards by 20.0% to $3.6. The company's market cap stands at $5.1 million. </li>
<li>The9 (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NCTY#NASDAQ">NCTY</a>) shares increased by 8.44% to $14.44. The market value of their outstanding shares is at $129.7 million. </li>
<li>Couchbase (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BASE#NASDAQ">BASE</a>) stock moved upwards by 8.21% to $22.0. The market value of their outstanding shares is at $1.1 billion. </li>
<li>Red Cat Hldgs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RCAT#NASDAQ">RCAT</a>) stock moved upwards by 7.87% to $10.0. The company's market cap stands at $754.6 million. </li>
</ul>
<h3>Losers</h3>
<ul>
<li>T Stamp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IDAI#NASDAQ">IDAI</a>) shares declined by 23.8% to $0.64 during Friday's pre-market session. The company's market cap stands at $14.8 million. </li>
<li>Karooooo (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KARO#NASDAQ">KARO</a>) stock declined by 11.86% to $39.1. The market value of their outstanding shares is at $1.2 billion. </li>
<li>ZenaTech (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZENA#NASDAQ">ZENA</a>) shares declined by 11.36% to $6.95. The market value of their outstanding shares is at $122.7 million. </li>
<li>Infobird Co (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IFBD#NASDAQ">IFBD</a>) shares fell 9.1% to $2.4. The market value of their outstanding shares is at $4.7 million. </li>
<li>Luna Innovations (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LUNA#NASDAQ">LUNA</a>) stock fell 8.99% to $1.62. The company's market cap stands at $56.2 million. </li>
<li>Oblong (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OBLG#NASDAQ">OBLG</a>) stock decreased by 7.41% to $3.25. The company's market cap stands at $3.7 million. 
See Also: <a href="http://www.benzinga.com/money/tech-stocks/" title="www.benzinga.com/money/tech-stocks/">www.benzinga.com/money/tech-stocks/</a></li>
</ul>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

BASE

IDAI

IFBD

KARO

LUNA

NCTY

NTRP

OBLG

ONDS

RCAT

UMAC

ZENA

12 Information Technology Stocks Moving In Friday's Pre-Market Session

Ares Capital's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARCC#NYSE">ARCC</a>) short percent of float has fallen 10.33% since its last report. The company recently reported that it has 15.59 million shares sold short, which is 2.43% of all regular shares that are available for trading. Based on its trading volume, it would take traders 4.14 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Ares Capital Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1732913119_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Ares Capital has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Ares Capital's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Ares Capital's peer group average for short interest as a percentage of float is 3.34%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

Trading Ideas

ARCC

(ARCC) - Analyzing Ares Capital's Short Interest

United Parcel Service's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UPS#NYSE">UPS</a>) short percent of float has risen 12.83% since its last report. The company recently reported that it has 15.39 million shares sold short, which is 2.11% of all regular shares that are available for trading. Based on its trading volume, it would take traders 4.38 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>United Parcel Service Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1732913115_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for United Parcel Service has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing United Parcel Service's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, United Parcel Service's peer group average for short interest as a percentage of float is 3.22%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

(UPS) - Analyzing United Parcel Service's Short Interest

Service Corp Intl's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCI#NYSE">SCI</a>) short percent of float has fallen 8.9% since its last report. The company recently reported that it has 7.71 million shares sold short, which is 6.14% of all regular shares that are available for trading. Based on its trading volume, it would take traders 7.66 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Service Corp Intl Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1732913109_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Service Corp Intl has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Service Corp Intl's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Service Corp Intl's peer group average for short interest as a percentage of float is 5.26%, which means the company has more short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Peering Into Service Corp Intl's Recent Short Interest

Financial giants have made a conspicuous bullish move on Chipotle Mexican Grill. Our analysis of options history for Chipotle Mexican Grill (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMG#NYSE">CMG</a>) revealed 8 unusual trades.
Delving into the details, we found 75% of traders were bullish, while 12% showed bearish tendencies. Out of all the trades we spotted, 2 were puts, with a value of $73,306, and 6 were calls, valued at $549,253.
<h3>Projected Price Targets</h3>
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $52.0 to $65.0 for Chipotle Mexican Grill over the recent three months. 
<h3>Analyzing Volume &amp; Open Interest</h3>
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Chipotle Mexican Grill's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Chipotle Mexican Grill's whale trades within a strike price range from $52.0 to $65.0 in the last 30 days. 
<h3>Chipotle Mexican Grill Option Volume And Open Interest Over Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1732912264_0.png" alt="Options Call Chart" />
<h3>Significant Options Trades Detected:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th align="right">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>CMG</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$10.3</td>
<td>$10.2</td>
<td>$10.3</td>
<td>$52.00</td>
<td>$288.4K</td>
<td>11.5K</td>
<td align="right">280</td>
</tr>
<tr>
<td>CMG</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>03/21/25</td>
<td>$5.6</td>
<td>$5.4</td>
<td>$5.5</td>
<td>$60.00</td>
<td>$110.0K</td>
<td>2.9K</td>
<td align="right">200</td>
</tr>
<tr>
<td>CMG</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>06/18/26</td>
<td>$11.2</td>
<td>$11.0</td>
<td>$11.2</td>
<td>$62.50</td>
<td>$53.7K</td>
<td>1.2K</td>
<td align="right">169</td>
</tr>
<tr>
<td>CMG</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/15/27</td>
<td>$8.2</td>
<td>$7.7</td>
<td>$7.85</td>
<td>$60.00</td>
<td>$39.2K</td>
<td>429</td>
<td align="right">50</td>
</tr>
<tr>
<td>CMG</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>06/18/26</td>
<td>$11.2</td>
<td>$11.0</td>
<td>$11.2</td>
<td>$62.50</td>
<td>$38.0K</td>
<td>1.2K</td>
<td align="right">74</td>
</tr>
</tbody>
</table>

<h3>About Chipotle Mexican Grill</h3>
Chipotle Mexican Grill is the largest fast-casual chain restaurant in the United States, with systemwide sales of $9.9 billion in 2023. The Mexican concept is almost exclusively company-owned, with just two license stores opearted through a master franchise relationship with Alshaya Group in the Middle East. It had a footprint of nearly 3,440 stores at the end of 2023, heavily indexed to the United States, although it maintains a small presence in Canada, the UK, France, and Germany. Chipotle sells burritos, burrito bowls, tacos, quesadillas, and beverages, with a selling proposition built around competitive prices, high-quality food sourcing, speed of service, and convenience. The company generates its revenue entirely from restaurant sales and delivery fees.
Having examined the options trading patterns of Chipotle Mexican Grill, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
<h3>Present Market Standing of Chipotle Mexican Grill</h3>
<ul>
<li>Trading volume stands at 3,818,457, with CMG's price down by -0.84%, positioned at $61.53.</li>
<li>RSI indicators show the stock to be may be approaching overbought.</li>
<li>Earnings announcement expected in 67 days.</li>
</ul>
<h3>What The Experts Say On Chipotle Mexican Grill</h3>
2 market experts have recently issued ratings for this stock, with a consensus target price of $67.5.
Turn $1000 into $1270 in just 20 days?
20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. <a href="https://www.benzinga.com/premium/ideas/options-moneyline-2/?t=Moop1arja3be22op14&amp;utm_source=benzinga-insights">Click here for access</a>. 
&#x2A; An analyst from RBC Capital downgraded its action to Outperform with a price target of $70. 
&#x2A; Reflecting concerns, an analyst from Stephens &amp; Co. lowers its rating to Equal-Weight with a new price target of $65.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Chipotle Mexican Grill with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.

Options

Smart Money Is Betting Big In CMG Options

Benzinga's options scanner just detected over 8 options trades for Freeport-McMoRan (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCX#NYSE">FCX</a>) summing a total amount of $246,685.
At the same time, our algo caught 4 for a total amount of 193,380.
<h3>Projected Price Targets</h3>
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $40.0 to $65.0 for Freeport-McMoRan over the last 3 months. 
<h3>Volume &amp; Open Interest Trends</h3>
In today's trading context, the average open interest for options of Freeport-McMoRan stands at 746.43, with a total volume reaching 3,859.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Freeport-McMoRan, situated within the strike price corridor from $40.0 to $65.0, throughout the last 30 days.
<h3>Freeport-McMoRan Call and Put Volume: 30-Day Overview</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1732912259_0.png" alt="Options Call Chart" />
<h3>Largest Options Trades Observed:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th align="right">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>FCX</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>08/15/25</td>
<td>$6.3</td>
<td>$6.15</td>
<td>$6.3</td>
<td>$47.00</td>
<td>$79.3K</td>
<td>182</td>
<td align="right">126</td>
</tr>
<tr>
<td>FCX</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>05/16/25</td>
<td>$4.2</td>
<td>$4.0</td>
<td>$4.0</td>
<td>$44.00</td>
<td>$50.8K</td>
<td>463</td>
<td align="right">127</td>
</tr>
<tr>
<td>FCX</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/16/26</td>
<td>$7.3</td>
<td>$7.25</td>
<td>$7.3</td>
<td>$45.00</td>
<td>$40.8K</td>
<td>1.9K</td>
<td align="right">504</td>
</tr>
<tr>
<td>FCX</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/16/26</td>
<td>$7.25</td>
<td>$7.2</td>
<td>$7.25</td>
<td>$45.00</td>
<td>$35.5K</td>
<td>1.9K</td>
<td align="right">370</td>
</tr>
<tr>
<td>FCX</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>09/19/25</td>
<td>$21.35</td>
<td>$21.25</td>
<td>$21.25</td>
<td>$65.00</td>
<td>$34.0K</td>
<td>152</td>
<td align="right">16</td>
</tr>
</tbody>
</table>

<h3>About Freeport-McMoRan</h3>
Freeport-McMoRan owns stakes in 10 copper mines, led by its 49% ownership of the Grasberg copper and gold operations in Indonesia, 55% of the Cerro Verde mine in Peru, and 72% of Morenci in Arizona. It sold around 1.2 million metric tons of copper (its share) in 2023, making it the one of the world's largest copper miners by volume. It also sold about 900,000 ounces of gold, mostly from Grasberg, and 70 million pounds of molybdenum. About 75% of 2023 revenue was from copper, with a further 15% from gold and about 10% from molybdenum. It had about 25 years of copper reserves at end December 2023. We expect it to sell similar amounts of copper midcycle in 2028, though we expect gold volumes to decline to about 700,000 ounces then due to falling production at Grasberg.
Having examined the options trading patterns of Freeport-McMoRan, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
<h3>Current Position of Freeport-McMoRan</h3>
<ul>
<li>Trading volume stands at 6,511,840, with FCX's price up by 1.27%, positioned at $44.31.</li>
<li>RSI indicators show the stock to be is currently neutral between overbought and oversold.</li>
<li>Earnings announcement expected in 54 days.</li>
</ul>
Turn $1000 into $1270 in just 20 days?
20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. <a href="https://www.benzinga.com/premium/ideas/options-moneyline-2/?t=Moop1arja3be22op14&amp;utm_source=benzinga-insights">Click here for access</a>.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Freeport-McMoRan, <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> gives you real-time options trades alerts.

Unpacking the Latest Options Trading Trends in Freeport-McMoRan

Investors with a lot of money to spend have taken a bearish stance on Caterpillar (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAT#NYSE">CAT</a>).
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with CAT, it often means somebody knows something is about to happen.
So how do we know what these investors just did? 
Today, <a href="https://pro.benzinga.com/?utm_source=insights">Benzinga</a>'s options scanner spotted 18 uncommon options trades for Caterpillar.
This isn't normal.
The overall sentiment of these big-money traders is split between 33% bullish and 55%, bearish.
Out of all of the special options we uncovered, 4 are puts, for a total amount of $360,704, and 14 are calls, for a total amount of $851,386.
<h3>Predicted Price Range</h3>
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $155.0 and $430.0 for Caterpillar, spanning the last three months.
<h3>Analyzing Volume &amp; Open Interest</h3>
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Caterpillar's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Caterpillar's substantial trades, within a strike price spectrum from $155.0 to $430.0 over the preceding 30 days.
<h3>Caterpillar Option Volume And Open Interest Over Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1732912254_0.png" alt="Options Call Chart" />
<h3>Largest Options Trades Observed:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th align="right">Open Interest</th>
<th align="right">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>CAT</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>12/06/24</td>
<td>$4.0</td>
<td>$3.6</td>
<td>$4.0</td>
<td>$410.00</td>
<td>$200.8K</td>
<td align="right">92</td>
<td align="right">596</td>
</tr>
<tr>
<td>CAT</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>12/20/24</td>
<td>$14.65</td>
<td>$14.45</td>
<td>$14.65</td>
<td>$420.00</td>
<td>$183.1K</td>
<td align="right">197</td>
<td align="right">126</td>
</tr>
<tr>
<td>CAT</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>02/21/25</td>
<td>$28.0</td>
<td>$25.8</td>
<td>$28.0</td>
<td>$400.00</td>
<td>$140.0K</td>
<td align="right">623</td>
<td align="right">0</td>
</tr>
<tr>
<td>CAT</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/16/26</td>
<td>$47.8</td>
<td>$46.65</td>
<td>$47.8</td>
<td>$420.00</td>
<td>$109.9K</td>
<td align="right">373</td>
<td align="right">23</td>
</tr>
<tr>
<td>CAT</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$18.9</td>
<td>$16.95</td>
<td>$18.9</td>
<td>$420.00</td>
<td>$75.2K</td>
<td align="right">378</td>
<td align="right">80</td>
</tr>
</tbody>
</table>

<h3>About Caterpillar</h3>
Caterpillar is the top manufacturer of heavy equipment, power solutions, and locomotives. It is currently the world's largest manufacturer of heavy equipment. The company is divided into four reportable segments: construction industries, resource industries, energy and transportation, and Cat Financial. Its products are available through a dealer network that covers the globe with about 2,700 branches maintained by 160 dealers. Cat Financial provides retail financing for machinery and engines to its customers, in addition to wholesale financing for dealers, which increases the likelihood of Caterpillar product sales.
<h3>Caterpillar's Current Market Status</h3>
<ul>
<li>With a trading volume of 1,961,635, the price of CAT is up by 0.61%, reaching $406.16.</li>
<li>Current RSI values indicate that the stock is may be approaching overbought.</li>
<li>Next earnings report is scheduled for 66 days from now.</li>
</ul>
<h3>What The Experts Say On Caterpillar</h3>
In the last month, 4 experts released ratings on this stock with an average target price of $348.75.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=Be8be9arja3be22bz20&amp;utm_source=benzinga-insights">Click here for access</a>. 
&#x2A; Reflecting concerns, an analyst from Evercore ISI Group lowers its rating to Underperform with a new price target of $365. 
&#x2A; An analyst from UBS persists with their Sell rating on Caterpillar, maintaining a target price of $295. 
&#x2A; An analyst from Baird persists with their Underperform rating on Caterpillar, maintaining a target price of $300. 
&#x2A; An analyst from Citigroup has decided to maintain their Buy rating on Caterpillar, which currently sits at a price target of $435. 
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Caterpillar, <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> gives you real-time options trades alerts.

Check Out What Whales Are Doing With CAT

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Small Cap

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