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On Wednesday, Ark Invest, led by Cathie Wood, made significant trades in Moderna Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRNA#NASDAQ">MRNA</a>) and Square Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SQ#NYSE">SQ</a>).
The Moderna Trade
Ark Invest removed 49,922 shares of Moderna Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRNA#NASDAQ">MRNA</a>) from its ARK Genomic Revolution ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKG#BATS">ARKG</a>) on Wednesday. The trade is estimated to be worth $2.6 million, based on the latest closing price of $51.81.
This move comes after Ark Invest sold a significant amount of Moderna stock earlier in October. The company&#8217;s decision to offload over $9 million in Moderna came amidst the unveiling of Moderna&#8217;s <a href="https://www.benzinga.com/markets/24/10/41300903/cathie-woods-ark-invest-dumps-over-9m-in-moderna-stock-even-with-post-covid-plans-on-the-table">post-COVID roadmap</a>.
The Block Trade
Ark Invest sold 31,771 shares of Block on Wednesday. The trade, made through ARK Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKK#NYSE">ARKK</a>) and Ark Fintech Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKF#NYSE">ARKF</a>), is estimated to be worth $2.5 million, based on the latest closing price of $77.64.
Jack Dorsey, the CEO of Block, recently announced a fresh <a href="https://www.benzinga.com/news/24/10/41646193/block-ceo-jack-dorsey-announces-another-round-of-layoffs-at-tidal">wave of layoffs</a> at the music streaming service Tidal, which the Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)-focussed Block owns. This move came amidst a significant round of layoffs, with Dorsey stating that Tidal needs to function "like a startup again," necessitating a much smaller team across the organization.
Other Key Trades: 
<ul>
<li>Ark loaded up on shares of Crisper Therapeutics (CRSP) and Twist Bioscience Corp (TWST)</li>
<li>The Wood-led firm sold shares of Sofi Technologies (SOFI) and Unity Software (U). </li>
</ul>
Read Next: 
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<li><a href="https://www.benzinga.com/markets/equities/24/11/41767332/trumps-potential-return-to-white-house-sends-ex-president-linked-phunware-stock-upwards-during-p?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump&#8217;s Potential Return To White House Sends Ex-President Linked Phunware Stock Upwards During Pre-Market Hours</a></li>
</ul>
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

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Cathie Wood's Wednesday Exodus: Moderna And Jack Dorsey's Block Stocks Get Dumped

Ripple Labs CEO Brad Garlinghouse outlined a cryptocurrency-focused agenda for President-elect Donald Trump, suggesting key changes to the SEC and pushing for clarity on Ethereum&#8217;s (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) status.
What Happened: Garlinghouse congratulated Trump on the presidential victory and proposed a series of actions for his first 100 days in office. 
Ripple&#8217;s top executive called for the dismissal of the current SEC head Gary Gensler, suggesting that former CFTC head Chris Giancarlo, former Acting Comptroller of the Currency Brian Brooks, or former SEC commissioner Daniel Gallagher could be suitable replacements. 
Garlinghouse also urged Trump to advance the digital asset market structure bill in the Senate by getting both Republicans and Democrats on the same side. Lastly, he sought clarity from the administration on whether Ethereum is considered a security.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41784950/pro-bitcoin-senator-cynthia-lummis-vows-to-build-a-strategic-bitcoin-reserve-as-industry-e">Pro-Bitcoin Senator Cynthia Lummis Vows To &#8216;Build A Strategic Bitcoin Reserve&#8217; As Industry Experts Laud Trump Win</a>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">.<a href="https://twitter.com/realDonaldTrump?ref_src=twsrc%5Etfw">@realDonaldTrump</a>, Congratulations! Some fodder for your first 100-day checklist to get things moving: &#8211; Fire Gensler. Day 1, no delays. &#8211; In his place, appoint Giancarlo, Brooks, or Gallagher – they'd be massive upgrades in rebuilding the rule of law (and reputation) at the…
&mdash; Brad Garlinghouse (@bgarlinghouse) <a href="https://twitter.com/bgarlinghouse/status/1854134741089316961?ref_src=twsrc%5Etfw">November 6, 2024</a></blockquote>
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Why It Matters: Garlinghouse&#8217;s suggestions reflect his ongoing efforts to promote pro-cryptocurrency policies. 
He previously <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41442996/brad-garlinghouse-defends-ripple-co-founders-donation-to-kamala-harris-while-top-crypto-an">emphasized</a> the importance of bipartisan support for cryptocurrency and <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41442996/brad-garlinghouse-defends-ripple-co-founders-donation-to-kamala-harris-while-top-crypto-an">backed Ripple executives </a>who donated to candidates they thought were good for the industry, regardless of the politics.
Interestingly, Ripple co-founder Chris Larsen endorsed Kamala Harris leading up to the elections, while legal head&nbsp;Stuart Alderoty made donations to Trump-supporting groups.
Ripple was locked in a nearly <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40240559/xrp-outshines-bitcoin-ethereum-to-become-biggest-daily-gainer-after-judge-imposes-125m-pen">four-year-long legal battle</a> with the SEC over the status of XRP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>), a payment-focused cryptocurrency at the center of Ripple&#8217;s operations. 
Price Action: At the time of writing, XRP was exchanging hands at $0.5448, up 4.93% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>.
Image via Shutterstock
Read Next: 
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41786812/which-musk-company-will-propel-dogecoins-future-x-tesla-spacex-or-the-boring-company">Which Musk Company Will Propel Dogecoin&#8217;s Future — X, Tesla, SpaceX Or The Boring Company?</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.<a href="https://www.benzinga.com/apis?utm_source=benzinga.com&amp;utm_campaign=article-bottom" rel="noreferrer noopener" target="_blank"></a>

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

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Ripple CEO Brad Garlinghouse Proposes Crypto Blueprint For Trump's First 100 Days: 'Fire Gensler. Day 1, No Delays'

Wedbush Securities predicts Tesla Inc.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) artificial intelligence initiatives could see major gains under a Trump presidency, despite potential headwinds for the <a href="https://www.benzinga.com/news/24/11/41768178/donald-trump-defeats-kamala-harris-to-win-2024-election">broader electric vehicle sector</a>. 
What Happened: Dan Ives, a leading analyst at Wedbush Securities, projects that Donald Trump&#8216;s return to the White House could significantly boost Tesla&#8217;s AI ambitions, potentially unlocking &#8220;$1 trillion of incremental AI valuation&#8221; for the electric vehicle maker over the coming years.
However, the outlook for the broader EV industry appears mixed. Tesla CEO Elon Musk, who actively campaigned for Trump, has acknowledged that the incoming administration would likely eliminate EV subsidies and tax credits, as discussed during Tesla&#8217;s second-quarter earnings call.
&#8220;We believe Trump in the White House changes the landscape for Elon Musk and Tesla,&#8221; Ives said during an appearance on CNBC&#8217;s Squawk Street. The analyst characterized Musk&#8217;s alignment with Trump as a &#8220;major strategic bet&#8221; that could prove &#8220;very bullish for Tesla&#8217;s AI/autonomous story.&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">We believe Trump in the White House changes the landscape for <a href="https://twitter.com/elonmusk?ref_src=twsrc%5Etfw">@elonmusk</a> and <a href="https://twitter.com/Tesla?ref_src=twsrc%5Etfw">@Tesla</a> and will start the unlock the $1 trillion of incremental AI valuation in the Tesla story in our view over the coming years <a href="https://twitter.com/SquawkStreet?ref_src=twsrc%5Etfw">@SquawkStreet</a> &#x1f525;&#x1f3c6;&#x1f402;&#x1f37f; <a href="https://t.co/nDyomh80F7">https://t.co/nDyomh80F7</a>
&mdash; Dan Ives (@DivesTech) <a href="https://twitter.com/DivesTech/status/1854307652056015007?ref_src=twsrc%5Etfw">November 6, 2024</a></blockquote>
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</figure>
See Also: <a href="https://www.benzinga.com/general/politics/24/11/41790636/kamala-harris-concedes-calls-for-unity-commitment-to-democracy">Kamala Harris Concedes: Calls For Unity, Commitment To Democracy</a>
Why It Matters: The firm projects Tesla&#8217;s <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41766869/trump-win-biggest-positive-for-elon-musks-tesla-tech-bull-says-it-could-boost-ev-gi">stock could see a $40-$50 price increase under a Trump presidency</a>, representing a potential upside of 16% to 20% based on current trading levels. Analysts attribute this positive outlook to Tesla&#8217;s established market position and manufacturing capabilities.
&#8220;We believe a Trump presidency would be an overall negative for the EV industry as likely the EV rebates/tax incentives get pulled,&#8221; Wedbush analysts wrote on Tuesday. &#8220;However, for Tesla, we see this as a potential positive with some caveats.&#8221;
Beyond Tesla, Ives anticipates significant AI initiatives that could benefit other <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41766869/trump-win-biggest-positive-for-elon-musks-tesla-tech-bull-says-it-could-boost-ev-gi">major tech players</a>, including Microsoft Corp., Amazon.com Inc., Alphabet Inc.&#8216;s Google, and Palantir Technologies Inc.
The analysis comes as Trump prepares to <a href="https://www.benzinga.com/news/24/11/41768178/donald-trump-defeats-kamala-harris-to-win-2024-election">assume office as the 47th president of the United States</a>, marking a period of potential transformation for both the technology and automotive sectors.
Price Action: Tesla Inc. showcased a standout performance on Wednesday, closing up 14.75% at $288.53, marking a significant single-day gain that brought its year-to-date rise to 16.15%. 
In contrast, key U.S.-based EV competitors struggled considerably, including Rivian Automotive Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>) and Nio Inc. (NYSE: NIO). Rivian dropped 8.31% to $9.71, extending its challenging 2024 trajectory with a year-to-date decline of 53.98%. Nio fell 5.30% to $5.00, with a year-to-date slide of 40.62%.
Chinese EV maker Xpeng Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPEV#NYSE">XPEV</a>) and leading Chinese hybrid-electric giant BYD Company (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDY#OTC">BYDDY</a>) also experienced losses, albeit to a lesser extent. Xpeng closed down 3.98% at $12.30, while BYD dropped 4.53% to $71.93, though BYD remains a strong performer overall, up 33.95% year-to-date.
On the ETF side, Tesla&#8217;s momentum mirrored that of Simplify Volt RoboCar Disruption and Tech ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VCAR#NYSE">VCAR</a>), which surged 18.48% on Tuesday. However, the broader EV sector showed mixed results, with the SPDR S&amp;P Kensho Smart Mobility ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HAIL#NYSE">HAIL</a>) increasing by only 1.23%, according to <a href="https://pro.benzinga.com/dashboard">data from Benzinga Pro</a>.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/equities/24/11/41785495/us-treasuries-take-sharpest-plunge-in-a-year-ahead-of-fed-meeting-could-powell-adjust-stance-in-">US Treasuries Take Sharpest Plunge In A Year Ahead Of Fed Meeting: Could Powell Adjust Stance In Response To Trump?</a></li>
</ul>
Image Via Shutterstock 
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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Trump White House Could Unlock Trillion-Dollar AI Potential For Tesla, Says Dan Ives

Wednesday&#8217;s trading session saw the S&amp;P 500 and Dow Jones Industrial Average hitting record highs, driven by investor optimism following the <a href="https://www.benzinga.com/markets/asia/24/11/41768811/donald-trump-wins-47th-presidency-us-futures-up-europe-up-asia-mixed-crude-falls-and-dollar-strength">election</a> of Donald Trump as the 47th U.S. president. The S&amp;P 500 index climbed 2.5% to 5,929.04, while the Dow soared over 3.6% to 43,729.93, marking its biggest single-day gain since November 2022. The tech-heavy Nasdaq rose nearly 3% to end Wednesday&#8217;s session at 18,983.47.
These are the top stocks that gained the attention of retail traders and investors throughout the day:
Arm Holdings Plc – ADR (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARM#NASDAQ">ARM</a>)
Arm Holdings closed the day up by 2.87% at $144.68, with an intraday high of $146.06 and a low of $141.01. The company&#8217;s 52-week high and low are $188.75 and $49.82 respectively. Arm reported second-quarter revenue of $844 million, beating analyst estimates, driven by record levels of royalty revenue. The <a href="https://www.benzinga.com/news/earnings/24/11/41788528/arm-holdings-q2-earnings-revenue-beat-eps-beat-ai-creating-new-opportunities-and-more">chip designer</a> also reported adjusted earnings of 30 cents per share, surpassing analyst estimates.
Coinbase Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>)
Coinbase shares surged 31.11% to close at $254.31, with an intraday high of $257.68 and a low of $221.11. The company&#8217;s 52-week high and low are $283.48 and $84.3 respectively. The <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41782783/coinbase-ceo-brian-armstrong-welcomes-most-pro-crypto-congress-ever-as-end-to-gary-gensler">cryptocurrency exchange</a> is expecting to see a leadership change in the SEC as early as April or May 2025, following historical patterns.
See Also: <a href="https://www.benzinga.com/markets/equities/24/11/41763941/jim-cramer-blasts-super-micro-computers-earnings-better-at-exonerating-itself-than-selling-nvidi?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Jim Cramer Blasts Super Micro Computer&#8217;s Earnings: &#8216;Better At Exonerating Itself Than Selling&#8217; Nvidia GPU</a>
Lyft Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LYFT#NASDAQ">LYFT</a>)
Lyft shares rose 4.35% to close at $14.40, with an intraday high of $14.53 and a low of $13.78. The company&#8217;s 52-week high and low are $20.82 and $8.93 respectively. Lyft announced new <a href="https://www.benzinga.com/markets/equities/24/11/41779428/whats-going-on-with-lyft-stock-today">autonomous vehicle partnerships</a> to offer future autonomous vehicle rides through the Lyft app, in a strategic alliance with Mobileye Global Inc.
IonQ Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IONQ#NYSE">IONQ</a>)
IonQ shares increased 7.2% to close at $16.45, with an intraday high of $16.83 and a low of $15.85. The company&#8217;s 52-week high and low are $18.20 and $6.22 respectively. IonQ reported <a href="https://www.benzinga.com/news/earnings/24/11/41789866/ionq-q3-earnings-revenue-beat-eps-miss-bookings-jump-on-air-force-research-contract-guidance-raise-">third-quarter financial results</a> with total revenue up 102% on a year-over-year basis, achieving $63.5 million worth of new bookings in the third quarter.
Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)
Tesla shares jumped 14.75% to close at $288.53, with an intraday high of $289.59 and a low of $275.62. The Elon Musk-led company&#8217;s 52-week high and low are $289.59 and $138.8 respectively. Analyst Dan Ives is <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41766869/trump-win-biggest-positive-for-elon-musks-tesla-tech-bull-says-it-could-boost-ev-gi">optimistic</a> about the impact of a potential Trump win on the Tesla stock.
Prepare for the day&#8217;s trading <a href="Premarket Movers &amp; News">with top premarket movers and news</a> by Benzinga.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/equities/24/11/41734887/cathie-woods-latest-shake-up-dumps-palantir-and-jack-dorseys-block-along-with-tesla-buys-amazon-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Cathie Wood&#8217;s Latest Shake-up: Dumps Palantir And Jack Dorsey&#8217;s Block Along With Tesla, Buys Amazon And Meta</a></li>
</ul>
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

COIN

IONQ

LYFT

Arm Holdings, Coinbase, Lyft, Ionq, And Tesla: Why These 5 Stocks Are On Investors' Radars After The Elections

Leading cryptocurrencies gave a thumbs up to Donald Trump's presidential victory in anticipation of a friendlier White House.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 7:30 p.m. ET)</td>
</tr>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>+6.15%</td>
<td>$75,185.83</td>
</tr>
<tr>
<td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>+9.67%</td>
<td>$2,706.00</td>
</tr>
<tr>
<td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>+8.18%</td>
<td>$0.1941</td>
</tr>
</tbody>
</table>
</figure>
What Happened: Bitcoin bettered its previous all-time high established in March with a handsome rally that pushed it above $75,000 for the first time.
The apex cryptocurrency's fourth-quarter gains increased to 18.74%, with history showing average returns of 83%.
Ethereum jumped to levels last seen in late August, while Dogecoin spiked over 8%.
Ethereum also encountered heavy sell-offs, while Dogecoin outperformed the market with over 8% gains in the last 24 hours.
Bearish leveraged traders witnessed a bloodbath, with nearly $400 million in short positions getting wiped out in the last 24 hours.
Bitcoin's Open Interest surged 9.30%, indicating a significant rise in speculative interest. Most top traders on the cryptocurrency exchange Binance leaned toward bullish positions, as the Binance Top Trader Long/Short Ratio was 1.48 as of this writing.
Market sentiment snowballed to "Extreme Greed," as per the Cryptocurrency Fear and Greed Index, raising concerns of a correction.
Top Gainers (24-Hours)
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 7:30 p.m. ET)</td>
</tr>
<tr>
<td>First Neiro On Ethereum (NEIRO)</td>
<td>+59.56%</td>
<td>$0.002222</td>
</tr>
<tr>
<td>Ethena (ENA)</td>
<td>+36.18%</td>
<td>$0.5015</td>
</tr>
<tr>
<td>Bittens (TAO)</td>
<td>+32.70%</td>
<td>$1.32</td>
</tr>
</tbody>
</table>
</figure>
The global cryptocurrency stood at $2.47 trillion, following an increase of 5.55% in the last 24 hours.
Stocks erupted in a frenzy on Wednesday. The Dow Jones Industrial Average jumped 1,508.05 points, or 3.57%, to a record close at 43,729.93.&nbsp;
The S&amp;P 500 lifted 2.53% to end at 5,929.04, while the tech-focused Nasdaq Composite gained 2.95% to close at 18,983.47. Both of these indexes notched a new record as well.
The benchmarks were helped by a 14.8% rally in the shares of Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), the tech behemoth whose CEO Elon Musk geared up for a potential role in the new Trump administration.
Trump-owned Trump Media &amp; Technology Group Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJT#NASDAQ">DJT</a>) also lifted nearly 6% during the session.
See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>
Analyst Notes: Popular on-chain analytics firm CryptoQuant noted that Bitcoin was still not overvalued, despite leaping to new highs.
"The MVRV ratio shows BTC is still far from peak levels. The price is also close to the purchase cost of traders, indicating it's not overheated. This hints at a potential for further growth," the firm said in an X post.
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<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Bitcoin's new all-time high doesn't mean it's overvalued relative to its cost basis. The MVRV ratio shows <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> is still far from peak levels. The price is also close to the purchase cost of traders, indicating it's not overheated. This hints at a potential for further growth. <a href="https://t.co/xeeDdipN9O">pic.twitter.com/xeeDdipN9O</a>
&mdash; CryptoQuant.com (@cryptoquant_com) <a href="https://twitter.com/cryptoquant_com/status/1854187011168420126?ref_src=twsrc%5Etfw">November 6, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Arthur Azizov, CEO of cryptocurrency payment provider B2BINPAY, said in a statement to Benzinga that Bitcoin might correct sharply by the end of this week or early next.
"The Bitcoin chart shows significant uncovered liquidity below the current price, while liquidity above has already been absorbed, indicating that a downward movement is needed to support sustainable future growth. Additionally, the Federal Reserve's rate announcement on Thursday is expected to bring further price volatility," Azizov added.
Furthermore, he expected BTC to range between $80,000 and $90,000 by year-end.
Photo by Avi Rozen on Shutterstock
Read Next:&nbsp;&nbsp;&nbsp;&nbsp;
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41778985/the-bitcoin-act-of-2024-is-a-significant-proposal-will-it-redefine-us-crypto-regulation">The BITCOIN Act Of 2024 &#8216;Is A Significant Proposal&#8217; — Will It Redefine US Crypto Regulation?</a></li>
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$DOGE

Bitcoin, Ethereum, Dogecoin Slingshot To The Moon After Trump Victory But 'Sharp' Correction Might Be In Store: Analyst Views BTC Between $80-90K By End Of Year

The social media account of&nbsp;Peter Beck, CEO of&nbsp;Rocket Lab USA Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RKLB#NASDAQ">RKLB</a>), was hacked, leading to a fraudulent post about a new crypto-based token.
What Happened: On Wednesday, the unauthorized post from Beck&#8217;s X, formerly Twitter account, promoted a new Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)-based token to fund space-related projects, reported Reuters.
<figure class="wp-block-image size-large"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/06202850/Screenshot-2024-11-07-at-6.54.15%E2%80%AFAM-935x1024.png" alt="" class="wp-image-634096" /><figcaption class="wp-element-caption">Screenshot from Peter Back&#8217;s compromised X Account</figcaption></figure>
At the time of writing, the above post from Back&#8217;s account was removed.
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/11/41702294/apple-begins-shifting-iphone-17-production-in-india-cooks-china-optimism-and-more-this-week-in-apple?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Apple Begins Shifting iPhone 17 Production In India, Cook&#8217;s China Optimism, And More: This Week In Appleverse</a>
A major player in the small satellite launch market valued at $6.5 billion, Rocket Lab was working with the platform to regain control of the account.&nbsp;
&#8220;Peter&#8217;s account has been compromised,&nbsp;so this is not an&nbsp;official tweet. We are working&nbsp;with X to restore it,&#8221;&nbsp;a company spokesperson confirmed in an email to Reuters.
Rocket Lab did not immediately respond to <a href="https://pro.benzinga.com/dashboard">Benzinga&#8217;s</a> request for comments.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Why It Matters: On Tuesday, Rocket Lab announced the successful launch of its <a href="https://www.benzinga.com/news/24/11/41750137/whats-going-on-with-rocket-lab-stock-tuesday">54th Electron mission</a>, deploying a single satellite to Low Earth Orbit for a confidential commercial customer.
Last month, Rocket Lab&#8217;s shares saw a boost following the Joe Biden administration&#8217;s <a href="https://www.benzinga.com/government/24/10/41392734/rocket-lab-stock-climbs-as-biden-administration-plans-to-ease-export-restrictions-on-space-companies">plans to ease export restrictions</a> on U.S. commercial space companies.
Check out more of Benzinga&#8217;s Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Photo via Shutterstock
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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.

Tech

Media

RKLB

Rocket Labs CEO Peter Beck's X Account Hijacked By Crypto Scammers

Robert Kennedy Jr. has disclosed President-Elect Donald Trump&#8217;s three-fold directive to him, aimed at transforming the nation&#8217;s health landscape.
What Happened: On Wednesday, Kennedy Jr. took to X to share the tasks Trump has assigned to him. He wrote that Trump asked him to do three things: clean up corruption in health agencies, restore evidence-based science, and end the chronic disease epidemic to make America healthy again.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">President Trump has asked me to do three things: 1. Clean up the corruption in our government health agencies. 2. Return those agencies to their rich tradition of gold-standard, evidence-based science. 3. Make America Healthy Again by ending the chronic disease epidemic. <a href="https://t.co/WHMOsD0CiI">pic.twitter.com/WHMOsD0CiI</a>
&mdash; Robert F. Kennedy Jr (@RobertKennedyJr) <a href="https://twitter.com/RobertKennedyJr/status/1854281809464529384?ref_src=twsrc%5Etfw">November 6, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also: <a href="https://www.benzinga.com/news/large-cap/24/11/41741814/walgreens-agrees-to-100-million-settlement-over-alleged-deceptive-pricing-of-generic-drugs?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Walgreens Agrees To $100 Million Settlement Over Alleged Deceptive Pricing Of Generic Drugs</a>
This announcement comes after Trump&#8217;s previous pledge to give Kennedy <a href="https://www.benzinga.com/news/24/10/41565423/trump-says-robert-kennedy-jr-can-run-wild-on-health-and-food-im-going-to-let-him-go-wild-on-the-medi">full authority over health</a>, food, and medicine issues if he secures a second term. The former President had expressed his intent to allow Kennedy to &#8220;run wild&#8221; on these matters, with the exception of oil.
Kennedy Jr. is known for his contentious views on vaccines and has also been know to speak out regularly on food additives. In the aftermath of the election, shares of pharmaceutical companies, particularly those associated with the COVID-19 vaccine, have slid.
On Wednesday Pfizer Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>) and Modern Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRNA#NASDAQ">MRNA</a>) stocks hovered near their 52-week lows of $25.20 and $49.60 respectively. For the day, PFE ended 2.2% lower at $27.36, while MRNA dropped 2.8% to $51.81. The iShares U.S. Pharmaceuticals ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IHE#NYSE">IHE</a>) fell 0.5% to $68.39 in a similar period.
Why It Matters: Kennedy&#8217;s new role and the tasks assigned to him align with Trump&#8217;s earlier statements. In a recent interview, Trump showed tentative support for Kennedy&#8217;s plan to <a href="https://www.benzinga.com/news/24/11/41704387/robert-kennedy-jr-says-he-will-advise-all-us-water-systems-to-remove-fluoride-on-day-1-of-trump-admi">remove fluoride from water</a>, a move aimed at improving public health. Kennedy, known for his health-related advocacies, stated that his administration would encourage all U.S. water systems to eliminate fluoride on its first day in office.
Furthermore, Kennedy had previously disclosed that he might be appointed by Trump to select leaders for <a href="https://www.benzinga.com/news/24/09/40931166/robert-kennedy-jr-trump-wants-him-to-help-pick-cdc-fda-and-nih-leaders-unravel-the-capture-of-agenci">key public health agencies</a>, including the Centers for Disease Control and Prevention, the Food and Drug Administration, and the National Institutes of Health. This latest announcement seems to confirm his involvement in these agencies, marking a significant shift in the country&#8217;s health policies.
Image via Shutterstock
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

Health Care

General

iShares Dow Jones US Pharmaceuticals Index Fund

Trump Has Asked Me To Do 3 Things, Says Robert Kennedy Jr.

STOCK MOVES UP OVER 4% ON DAY
<figure class="wp-block-image size-full is-resized"><img loading="lazy" decoding="async" width="696" height="829" src="https://contributor-assets.benzinga.com/wp-content/uploads/2024/11/06212242/Screen-Shot-2024-11-06-at-4.19.30-PM.png" alt="" class="wp-image-3023" style="width:auto;height:450px" srcset="https://contributor-assets.benzinga.com/wp-content/uploads/2024/11/06212242/Screen-Shot-2024-11-06-at-4.19.30-PM.png 696w,https://contributor-assets.benzinga.com/wp-content/uploads/2024/11/06212242/Screen-Shot-2024-11-06-at-4.19.30-PM-252x300.png 252w" sizes="(max-width: 696px) 100vw, 696px" /></figure>
First Citizens BancShares, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FCNCA#NASDAQ">FCNCA</a>) today experienced a Power Inflow, a significant event for those who follow where smart money goes and value order flow analytics in their trading decisions. 
Today, at 10:00 AM on November 6th, a significant trading signal occurred for First Citizens BancShares, Inc. as it demonstrated a Power Inflow at a price of $2171.52. This indicator is crucial for traders who want to know directionally where institutions and so-called "smart money" moves in the market. They see the value of utilizing order flow analytics to guide their trading decisions. The Power Inflow points to a possible uptrend in FCNCA&#8217;s stock, marking a potential entry point for traders looking to capitalize on the expected upward movement. Traders with this signal closely watch for sustained momentum in FCNCA&#8217;s stock price, interpreting this event as a bullish sign.
Signal description
Order flow analytics, aka transaction or market flow analysis, separate and study both the retail and institutional volume rate of orders (flow). It involves analyzing the flow of buy and sell orders, along with size, timing, and other associated characteristics and patterns, to gain insights and make more informed trading decisions. This particular indicator is interpreted as a bullish signal by active traders.&nbsp;
The Power Inflow occurs within the first two hours of the market open and generally signals the trend that helps gauge the stock&#8217;s overall direction, powered by institutional activity in the stock, for the remainder of the day.&nbsp;
By incorporating order flow analytics into their trading strategies, market participants can better interpret market conditions, identify trading opportunities, and potentially improve their trading performance. But let's not forget that while watching smart money flow can provide valuable insights, it is crucial to incorporate effective risk management strategies to protect capital and mitigate potential losses. Employing a consistent and effective risk management plan helps traders navigate the uncertainties of the market in a more controlled and calculated manner, increasing the likelihood of long-term success
If you want to stay updated on the latest options trades for FCNCA, <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> gives you real-time options trades alerts.&nbsp;
<a href="https://benzinga.com/apis?_gl=1&#x2A;1hlgn5i&#x2A;_ga&#x2A;MTY1NjE2NTYxMi4xNzE0NzQ4MTAy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDc0ODEwMi4xLjEuMTcxNDc0ODQyOC4wLjAuMA..">Market News and Data are brought to you by Benzinga APIs</a> and include firms, like <a href="https://finitusa.com/en/">Finit USA</a>, responsible for parts of the data within this article. 
&#xA9; 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
After Market Close UPDATE:
The price at the time of the Power Inflow was $2171.52. The returns on the High price ($2275.99) and Close price ($2266.39) after the Power Inflow were respectively 4.8% and 4.4%. That is why it is important to have a trading plan that includes Profit Targets and Stop Losses that reflect your risk appetite. In this case, the high of the day and close were very close but that is not always the case
Past Performance is Not Indicative of Future Results

Signals

FCNCA

Tradepulse Power Inflow Alert: First Citizens Bancshares Inc. Rises Over 100 Points After Signal

NDRA

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

SQQQ

Everus Construction Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ECG#NYSE">ECG</a>) sees FY2024 sales of $2.650 billion-2.850 billion.

Guidance

Everus Construction Group Sees FY2024 Sales $2.650B-2.850B

Tapping into voters&#8217; dissatisfaction with the economy, among other issues, Donald Trump won the popular vote in the presidential <a href="https://www.benzinga.com/news/24/11/41768178/donald-trump-defeats-kamala-harris-to-win-2024-election">election</a> on Tuesday night. 
Meanwhile, bond traders on Wall Street dubbed &#8220;bond vigilantes&#8221; remain worried about long-term economic prospects under a Trump presidency.
What Are Bond Vigilantes?: A bond vigilante is an investor who protests against inflationary monetary or fiscal policies by selling bonds. This, in turn, increases bond yields which can force politicians&#8217; hand against inflationary policies.
Inflation necessitates increases in interest rates which erode the value of bonds.
Yields increased sharply during the Clinton administration during a period of concern over fiscal spending. The administration subsequently reduced the federal deficit, leading yields to recede.
The Trump Campaign: Trump&#8217;s 2024 campaign focused on populist economic policies, including high tariffs on imported goods and a possible elimination of the income tax. Experts say that Trump&#8217;s agenda would spur economic growth but would <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/06/39131503/ex-treasury-secretary-larry-summers-warns-trumps-re-election-may-push-mortgage-rate">be highly inflationary</a>.
Trump ran on tax cuts in his 2016 election win and enacted the Tax Cuts and Jobs, which <a href="https://taxfoundation.org/blog/tcja-corporate-tax-economic-effects/">boosted</a> corporate investment but <a href="https://www.benzinga.com/government/24/06/39462030/trump-added-nearly-two-times-more-to-the-national-debt-than-biden-while-in-office-new-report">added $1.9 trillion</a> to the U.S. national debt.
If Trump follows through on his policy commitments — which could be likely with a solidly red Senate and a yet-to-be-called House of Representatives — the fiscal deficit will balloon.
The Bond Market Reacts: The bond market quickly reacted to Trump&#8217;s win. The benchmark 10-year Treasury yield rose to 4.479%, its highest mark since July.
Much of Trump&#8217;s win was already priced in by the markets —10-year yields are up over seven-tenths of a percentage point since early September.
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<li><a href="https://www.benzinga.com/markets/equities/24/11/41785495/us-treasuries-take-sharpest-plunge-in-a-year-ahead-of-fed-meeting-could-powell-adjust-stance-in-">US Treasuries Take Sharpest Plunge In A Year Ahead Of Fed Meeting: Could Powell Adjust Stance In Response To Trump?</a></li>
</ul>
This image was created using artificial intelligence MidJourney.

Bonds

Return Of The Bond Vigilante: Yields Skyrocket After Trump Win

Q2 Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QTWO#NYSE">QTWO</a>) reported quarterly losses of $(0.20) per share which beat the analyst consensus estimate of $(0.22) by 9.09 percent. The company reported quarterly sales of $175.021 million which beat the analyst consensus estimate of $173.365 million by 0.96 percent. This is a 12.94 percent increase over sales of $154.967 million the same period last year.

Earnings

Earnings Beats

QTWO

Q2 Holdings Q3 2024 GAAP EPS $(0.20) Beats $(0.22) Estimate, Sales $175.021M Beat $173.365M Estimate

Liberty Latin America (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LILAK#NASDAQ">LILAK</a>) reported quarterly losses of $(2.22) per share. The company reported quarterly sales of $1.089 billion which missed the analyst consensus estimate of $1.126 billion by 3.29 percent. This is a 3.29 percent decrease over sales of $1.126 billion the same period last year.

Earnings Misses

LILAK

Liberty Latin America Q3 2024 GAAP EPS $(2.22), Sales $1.089B Miss $1.126B Estimate

In the aftermath of the 2024 presidential election, Sen. Bernie Sanders (I-Vt.) has publicly criticized the Democratic Party&#8217;s handling of working-class issues.
What Happened: A statement released on Tuesday by Sanders expressed his disappointment with the Democratic Party&#8217;s neglect of the working class, which he believes has led to their abandonment of the party. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">It should come as no great surprise that a Democratic Party which has abandoned working class people would find that the working class has abandoned them. While the Democratic leadership defends the status quo, the American people are angry and want change. And they're right. <a href="https://t.co/lM2gSJmQFL">pic.twitter.com/lM2gSJmQFL</a>
&mdash; Bernie Sanders (@BernieSanders) <a href="https://twitter.com/BernieSanders/status/1854271157135941698?ref_src=twsrc%5Etfw">November 6, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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&#8220;It should come as no great surprise that a Democratic Party which has abandoned working class people would find that the working class has abandoned them.&#8221;
Sanders highlighted the increasing income and wealth inequality in the U.S., with 60% of Americans living paycheck to paycheck. He also criticized the country&#8217;s healthcare system and its continued financial support for the Netanyahu government.
&#8220;Unbelievably, real, inflation-accounted-for weekly wages for the average American worker are actually lower now than they were 50 years ago.&#8221;
Sanders wondered if the Democratic party would actually learn any real lessons from this &#8220;disastrous campaign.&#8221; He expressed his lack of confidence in this being a learning movement for the democrats.
&#8220;In the coming weeks and months those of us concerned about grassroots democracy and economic justice need to have some very serious political discussions,&#8221; said Sanders.
In a post on X, on Wednesday, Sanders said, &#8220;While the Democratic leadership defends the status quo, the American people are angry and want change.&#8221; He said &#8220;They&#8217;re right.&#8221;
See Also: <a href="https://www.benzinga.com/news/24/11/41733899/trump-woos-muslim-voters-says-hes-building-the-biggest-and-broadest-peace-coalition-kamala-and-her-w?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Woos Muslim Voters, Says He&#8217;s &#8216;Building The Biggest And Broadest&#8217; Peace Coalition: &#8216;Kamala And Her</a>
Why It Matters: Sanders&#8217; criticism comes in the wake of the 2024 presidential election, where Donald Trump <a href="https://www.benzinga.com/markets/asia/24/11/41768811/donald-trump-wins-47th-presidency-us-futures-up-europe-up-asia-mixed-crude-falls-and-dollar-strength">won over Democratic rival</a> Kamala Harris. The election results sparked an &#8220;everything rally&#8221; on Wall Street, with major U.S. equity indices surging to record highs. This was largely due to investor optimism over anticipated favorable tax policies under the Trump administration.
Before the election, Sanders had <a href="https://www.benzinga.com/news/24/10/41642184/bernie-sanders-says-trumps-plan-to-eliminate-all-income-taxes-is-insane-economics-will-trigger-the-b">criticized Trump&#8217;s proposal to eliminate all income taxes</a>, describing it as &#8216;insane economics&#8217; that would disproportionately benefit the wealthy. He also <a href="https://www.benzinga.com/news/24/10/41590597/bernie-sanders-explains-why-he-will-vote-for-kamala-harris-even-though-he-disagrees-with-her-stance">expressed his disagreement with Kamala Harris&#8217; stance on the Gaza war</a>, but still pledged his vote for her.
Image via Shutterstock
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

Bernie Sanders Says 'American People Are Angry And Want Change' And 'They're Right' — Democrats Have Abandoned The Working Classes

Chardan Capital analyst Keay Nakae maintains Arbutus Biopharma (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ABUS#NASDAQ">ABUS</a>) with a Buy and raises the price target from $4 to $4.5.

Price Target

Analyst Ratings

ABUS

Chardan Capital Maintains Buy on Arbutus Biopharma, Raises Price Target to $4.5

Hurricane Rafael made landfall in Cuba as a Category 3 storm on Wednesday. Here's a look at what stocks could be affected as the hurricane takes <a href="https://www.benzinga.com/markets/equities/24/10/41240852/back-to-back-hurricanes-batter-floridas-insurance-market-stocks-to-watch">aim at the Gulf of Mexico. </a>
What To Know: According to <a href="https://www.foxweather.com/weather-news/tracking-hurricane-rafael-us-gulf-of-mexico-caribbean">a report</a> from Fox Weather, Hurricane Rafael made landfall in the Cuban province of Artemisa with sustained winds of 115 miles per hour, making it a Category 3 hurricane. The storm is expected to enter the Gulf of Mexico on Wednesday night and residents along the coast from Florida to Texas will be watching the storm's path.&nbsp;
Read Next: <a href="https://www.benzinga.com/news/24/11/41781921/what-does-trumps-victory-mean-for-ev-giant-tesla-and-the-big-3-automakers">What Does Trump&#8217;s Victory Mean For EV Giant Tesla And The Big 3 Automakers?</a>
What To Watch: Hurricanes affect people, homes and companies in their paths and spread wide-reaching effects on various sectors and industries. Insurance companies see an influx of claims resulting from damage to property and vehicles. Homes will have to be repaired and rebuilt driving sales of lumber, windows and sheetrock higher. Power outages cause consumers to seek portable generators as an alternative way to power their homes.&nbsp;
Home improvement stores like Home Depot Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HD#NYSE">HD</a>) and Lowe&#8217;s Companies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LOW#NYSE">LOW</a>) could see a pop in sales as people rush to secure their homes before the storm and repair damage after. 
Generac Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GNRC#NYSE">GNRC</a>) designs and manufactures standby generators and portable generators and often sees its shares rise before and after major weather events. 
Shares of insurance companies tend to drop after natural disasters and investors may want to keep an eye on Allstate Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALL#NYSE">ALL</a>), Travelers Companies, Inc.(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRV#NYSE">TRV</a>) and Chubb Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CB#NYSE">CB</a>) in the days and weeks following a potential landfall from Hurricane Rafael. 
Power companies including Duke Energy Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DUK#NYSE">DUK</a>) and Southern Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SO#NYSE">SO</a>) could face increased labor costs and additional costs to repair infrastructure after the storm.
Read More:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/news/large-cap/24/11/41774549/trumps-big-tech-policies-what-gop-victory-means-for-apple-google-microsoft">Trump&#8217;s Big Tech Policies: What GOP Victory Means For Apple, Google, Microsoft</a></li>
</ul>
Photo: Hurricane Rafael as a tropical storm, 11.5.2024. Courtesy the NOAA/Public Domain

GNRC

Hurricane Rafael Hits Cuba As Category 3 Storm: Stocks To Watch As Storm Heads Into Gulf Of Mexico

Jones Trading analyst Matthew Erdner maintains Angel Oak Mortgage REIT (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AOMR#NYSE">AOMR</a>) with a Buy and maintains $12.5 price target.

AOMR

Jones Trading Maintains Buy on Angel Oak Mortgage REIT, Maintains $12.5 Price Target

ASML Holding NV (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASML#NASDAQ">ASML</a>) shares were down 2.22% to $661.43 at market close Wednesday following news of Donald Trump's victory in the <a href="https://www.benzinga.com/economics/macro-economic-events/24/11/41772701/trumps-historic-return-7-ways-his-second-term-could-impact-the-us-economy">2024 U.S. presidential election</a>.
Trump&#8217;s return to office, coupled with a Republican majority in the Senate and a lead in the House of Representatives, has raised concerns over renewed trade tensions and the possibility of aggressive tariffs.
What To Know: During his campaign, Trump proposed a 60% tariff on Chinese goods, along with a universal 10% tariff on all imports to the U.S. This policy direction is worrying for global technology companies, including ASML, as its advanced lithography machines are essential to semiconductor production worldwide.
ASML's products are already impacted by U.S.-China trade policies, given the semiconductor industry's reliance on complex international supply chains. ASML, which is headquartered in the Netherlands, sells its equipment globally, including to Chinese companies — a significant revenue stream now facing increased uncertainty.
Read Also: <a href="https://www.benzinga.com/general/politics/24/11/41783357/how-did-s-p-500-sectors-perform-during-trumps-first-term-could-this-time-be-different">How Did S&amp;P 500 Sectors Perform During Trump&#8217;s First Term? Could This Time Be Different?</a>
What Else: The potential for additional restrictions on U.S. companies doing business with Chinese firms under Trump's administration could also hurt ASML's business indirectly. If U.S.-based tech giants face hurdles in the Chinese market, their demand for advanced lithography machines from ASML may diminish. 
Additionally, rising economic and political tensions could fuel an ongoing shift in tech supply chains as companies reassess global expansion plans and sourcing, a trend that could complicate ASML's growth strategy over the long term.
Market analysts at JPMorgan Chase &amp; Co underscored Trump's proposed tariffs are likely to be "a direct headwind to global technology trade," which could hit companies like ASML more acutely than other sectors.
Given ASML's reliance on global market stability and free trade to maintain its dominance in semiconductor manufacturing equipment, the return of protectionist trade policies under Trump's administration raises significant concerns about the company's medium- to long-term outlook.
According to data from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>, ASML has a 52-week high of $1,110.09 and a 52-week low of $633.80.
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Wall Street&rsquo;s focus on blockchain stocks is likely to continue in the second half of 2024 as well. Blockchain, the technology behind cryptocurrencies like Bitcoin (<a href="https://investorplace.com/cryptocurrency/btc-usd/">BTC-USD</a>) and Ethereum (<a href="https://investorplace.com/cryptocurrency/eth-usd/">ETH-USD</a>), has applications that extend far beyond digital currencies. In fact, many publicly traded companies are integrating blockchain into their operations or offering related services.



Recent research suggests that the blockchain technology market is projected to grow from $7.4 billion in 2022 to $94 billion by 2027, at a compound annual growth rate (CAGR) of over 66%. Blockchain&rsquo;s potential spans various sectors, from <a href="https://everledger.io/making-the-commercial-case-for-blockchain-diamond-tracking/">luxury goods authentication</a> to <a href="https://techhub.wwf.ca/technology/blockchain-applications/">combating illegal fishing</a> and wildlife trafficking. Even the <a href="https://press.vatican.va/content/salastampa/en/info/2024/06/17/240617c.html">Vatican has ventured into blockchain</a>, using non-fungible tokens (NFTs) to digitize and preserve art and historical documents. Therefore, today, we explore two top blockchain stocks and a blockchain exchange-traded fund (ETF) to add to your must-watch list in July.



<h2>CleanSpark (CLSK)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/03/clsk1600-300x169.png" alt="In this photo illustration, the CleanSpark (CLSK) logo seen displayed on a smartphone screen"><div>Source: rafapress / Shutterstock.com</div></div>The first name in our lineup of blockchain stocks is CleanSpark (NASDAQ:<a href="https://investorplace.com/stock-quotes/clsk-stock-quote/">CLSK</a>), a bitcoin mining company with a commitment to sustainability. Its data centers operate predominantly <a href="https://s203.q4cdn.com/737227956/files/doc_downloads/ESG/Environmental/12/clsk-energy-consumption-and-mix-fy2023-pdf.png">on low-carbon energy</a>.



In the <a href="https://investors.cleanspark.com/news/news-details/2024/CleanSpark-Reports-Second-Quarter-FY2024-Financial-Results/default.aspx">second quarter of fiscal year 2024</a>, CleanSpark generated record revenues of $111.8 million, up 163% year-over-year (YOY). Net income soared to $126.7 million, translating to an EPS of 59 cents, a significant improvement from the previous year&rsquo;s 23-cent loss. Ending the quarter with robust financial health, CleanSpark boasted $632.7 million in working capital and minimal debt of $12.8 million.



CleanSpark has adeptly expanded post-<a href="https://news.bitcoin.com/halving-milestone-block-840000-mined-ushering-in-a-new-chapter-as-bitcoin-miners-face-shrinking-rewards/">Bitcoin halving</a> by acquiring competitors and enhancing its footprint in the mining sector. Recent acquisitions, including <a href="https://investors.cleanspark.com/news/news-details/2024/CleanSpark-to-Acquire-75-MW-of-Bitcoin-Mining-Sites-in-Wyoming-for-18.75-Million/default.aspx">two locations in Wyoming</a> and <a href="https://investors.cleanspark.com/news/news-details/2024/CleanSpark-Announces-Acquisition-of-Five-New-Bitcoin-Mining-Facilities-in-Georgia-Adding-60-MW-of-Infrastructure/default.aspx">five in Georgia</a>, have boosted its hashrate to over 20 exahashes per second (EH/s), aiming for 50 EH/s by 2025. Hashrate, which measures mining efficiency, directly impacts the chances of earning rewards. Meanwhile, CleanSpark&rsquo;s recent <a href="https://investors.cleanspark.com/news/news-details/2024/CleanSpark-Announces-Agreement-to-Acquire-GRIID-Infrastructure-Based-on-an-enterprise-value-of-155-Million-and-Expansion-Plans-of-over-400-MW-in-Tennessee/default.aspx">announcement to acquire </a>GRIID Infrastructure (NASDAQ:<a href="https://investorplace.com/stock-quotes/grdi-stock-quote/">GRDI</a>) further improves its market position, targeting 100 megawatts (MW) capacity in Tennessee by year-end and scaling to 400 MW by 2026.



CLSK stock has delivered a year-to-date (YTD) return of over 45%. Despite trading at a premium valuation of <a href="https://finance.yahoo.com/quote/CLSK/key-statistics/">9.2 times sales</a>, analysts remain bullish, projecting a 65% upside with a <a href="https://edition.cnn.com/markets/stocks/CLSK">12-month median target</a> of $26.50.



<h2>iShares Blockchain and Tech ETF (IBLC)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/02/nft-phone-blockchain-300x169.png" alt="An image of NFTs coming out of a phone screen"><div>Source: Alongkorn Sanguansook/Shutterstock</div></div>Investing in blockchain stocks can mean potential long-term returns. As a result, a blockchain ETF may offer diversification, simplicity and exposure to innovative tech, making it an appealing choice.



Next in today&rsquo;s list of blockchain stocks is the iShares Blockchain and Tech ETF (NYSEARCA:<a href="https://investorplace.com/stock-quotes/iblc-stock-quote/">IBLC</a>). Launched in April 2022, IBLC tracks the NYSE FactSet Global Blockchain Technologies Index, primarily investing in firms advancing blockchain and crypto technologies worldwide.



As net assets stand at over $23.5 million, it is still a small fund. IBLC allocates 77% to information technology and 22% to financials, with holdings in 35 stocks. As the ETF is market capitalization-weighted, the top 10 holdings account for over two-thirds of the fund. Leading names include Marathon Digital Holdings (NASDAQ:<a href="https://investorplace.com/stock-quotes/mara-stock-quote/">MARA</a>), Cleanspark, Coinbase Global (NASDAQ:<a href="https://investorplace.com/stock-quotes/coin-stock-quote/">COIN</a>), Hut 8 (NASDAQ:<a href="https://investorplace.com/stock-quotes/hut-stock-quote/">HUT</a>), and Terawulf (NASDAQ:<a href="https://investorplace.com/stock-quotes/wulf-stock-quote/">WULF</a>). Geographically, the U.S. leads with nearly 82%, followed by Canada, Australia and China.



So far in 2024, IBLC has gained 15%, complemented by a 1.2% dividend yield. Shares currently trade at <a href="https://www.ishares.com/us/products/326614/ishares-blockchain-and-tech-etf">22.4 times trailing earnings</a> and 3.5 times book value. We should remind readers of the expense ratio of 0.47% if they are seeking exposure to blockchain stocks through this ETF.



<h2>Mastercard (MA)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/07/mastercard-ma-1600-300x169.jpg" alt="Close up of a pile of mastercard credit load debit bank cards."><div>Source: David Cardinez / Shutterstock.com</div></div>As we conclude our discussion on blockchain stocks, Mastercard (NYSE:<a href="https://investorplace.com/stock-quotes/ma-stock-quote/">MA</a>) emerges as a global payments leader advancing in distributed ledger technology. The company has made the Forbes&rsquo; 2023 <a href="https://www.forbes.com/sites/ninabambysheva/2023/02/07/forbes-blockchain-50-2023/">Blockchain 50 list</a>, which showcases companies heavily investing in blockchain.



In May, Mastercard reported solid <a href="/s25.q4cdn.com/479285134/files/doc_financials/2024/q1/1Q24-Mastercard-Earnings-Release.pdf">first quarter 2024</a> results. Net revenue reached $6.3 billion, up 11% YOY on a currency-neutral basis. Adjusted diluted EPS grew to $3.31, from $2.80 in the prior year quarter. Operating margin was 56.8% compared to 54.6% a year earlier.



Mastercard focuses on digital payments, particularly on contactless and tokenized transactions. The company aims to fully implement <a href="https://seekingalpha.com/news/4114749-mastercard-to-end-manual-card-entry-for-online-payments-in-europe-by-2030-report">e-commerce tokenization in Europe</a> by 2030, enhancing transaction safety and accessibility. Additionally, Mastercard has <a href="https://www.mastercard.com/news/perspectives/featured-topics/fintech/kickstarting-the-next-generation-of-blockchain-payments/">partnered with blockchain technology firms</a> and established a <a href="https://www.mastercard.com/global/en/business/issuers/crypto/card-program.html">Crypto Card program</a> to launch crypto-funded payment cards.



Wall Street notes that Mastercard is also leveraging blockchain and artificial intelligence (AI) investments to innovate its processing capabilities. Notably, the company employs <a href="https://www.mastercard.com/news/press/2024/may/mastercard-accelerates-card-fraud-detection-with-generative-ai-technology/">generative AI to detect fraud</a>, achieving twice the speed in identifying compromised cards compared to previous methods.



Since January, MA stock has gained around 5% YTD while shares are trading at <a href="https://www.cnbc.com/quotes/MA?qsearchterm=MA">30.5 times forward earnings</a> and 16.5 times sales. Finally, analysts have set a <a href="https://edition.cnn.com/markets/stocks/MA">12-month median price forecast</a> of $514.07 for Mastercard stock, a potential 14% upside.



On the date of publication, Tezcan Gecgil 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&nbsp;InvestorPlace.com <a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.
<div>Tezcan Gecgil, PhD, began contributing to InvestorPlace in 2018. She brings over 20 years of experience in the U.S. and U.K. and has also completed all 3 levels of the Chartered Market Technician (CMT) examination. Publicly, she has contributed to <a href="https://www.investing.com/">investing.com</a> and the U.K. website of <a href="https://www.fool.com/">The Motley Fool.</a></div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/07/3-blockchain-stocks-to-add-to-your-must-watch-list-in-july-2024/">3 Blockchain Stocks to Add to Your Must-Watch List in July 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

3 Blockchain Stocks to Add to Your Must-Watch List in July 2024

CleanSpark's Summer Buying Spree

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CIFR

CLSK

CMND

GRDI

GREE

IBLC

MARA

MCBC

MGOL

NCTY

PIXY

SLNH

TCJH

WULF

ZAPP

Press Releases

SHAREHOLDER INVESTIGATION: Halper Sadeh LLC Investigates ATRI, GRDI, AMBC on Behalf of Shareholders

SHAREHOLDER INVESTIGATION: Halper Sadeh LLC Investigates SHCR, INFN, SPR, GRDI on Behalf of Shareholders

Legal

SHAREHOLDER INVESTIGATION: Halper Sadeh LLC Investigates EVRI, SPR, INFN, GRDI on Behalf of Shareholders

SHAREHOLDER INVESTIGATION: Halper Sadeh LLC Investigates GRDI, BALY, WSBC on Behalf of Shareholders

SHAREHOLDER INVESTIGATION: Halper Sadeh LLC Investigates GRDI, BALY, CGBD on Behalf of Shareholders

SHAREHOLDER INVESTIGATION: Halper Sadeh LLC Investigates BALY, PRMW, GRDI on Behalf of Shareholders

GRIID INFRASTRUCTURE INVESTOR ALERT by the Former Attorney General of Louisiana: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of GRIID Infrastructure Inc- GRDI

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