La catena delle opzioni mostra i dati chiave delle opzioni azionarie di Hut 8 a vari prezzi di esercizio e date di scadenza. I trader utilizzano queste informazioni per analizzare potenziali operazioni e valutare il sentiment del mercato per Hut 8..

Hut 8 (NASDAQ:HUT) Azioni, Catena delle Opzioni

HUT 8 CORP

Hut 8

Hut 8 Mining

Hut 8 Corp is an energy infrastructure operator and Bitcoin miner with self-mining, hosting, managed services, and traditional data center operations across North America. The company has four reportable business segments: Power, Digital Infrastructure, Compute, and Other. It derives maximum revenue from the Compute segment which consists of Bitcoin Mining, GPU-as-a-Service, and Data Center Cloud operations. Its geographical segments include the United States and Canada, of which it generates the majority of revenue from the United States.

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Un&#39;analisi delle prospettive di crescita per una società di mining emergente che promette forti ritorni sugli investimenti nel prossimo anno.

Opportunità di investimento: la migliore società su cui investire nel 2025

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COIN

MSTR

Rialzi significativi nel settore delle criptovalute. Gli analisti discutono le ragioni dietro l&#39;aumento del valore di alcune azioni.

Queste aziende stanno registrando un forte rialzo: cosa sta succedendo?

Hut 8 Corp

HUTCHISON TLCM UNSP/ADR by Hutchison Telecommunications Hong Kong Holdings Ltd.

Hutchison Telecommunications Hong Kong Holdings Ltd

HUTN Inc

HUTCHMED (China) Limited - American Depositary Shares

HUTCHMED (China) Ltd

HUTCHMED CHINA LTD by Hutchison China Ltd.

HUTECH21 CO LTD NEW by Hutech21 Co., Ltd.

HUTCHISON PORT HLDGS TR by Hutchison Port Holdings Trust

Hutchison Port Holdings Trust

HUTCHISON PORT H UNSP/ADR by Hutchison Port Holdings Trust

HUTCHISON TELECM HK HLDGS by Hutchison Telecommunications Hong Kong Holdings Ltd.

WIIM

PRPH

PRPH stock has given up its prior gain. ProPhase Labs shares were trading higher after the company reported a Q1 EPS beat.

ASPI

ASPI stock has given up its prior gain. ASP Isotopes shares were trading higher after announcing it has entered into a loan and supply agreement with TerraPower for a new HALEU uranium enrichment facility in South Africa.

Stifel analyst Tore Svanberg maintains Analog Devices (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADI#NASDAQ">ADI</a>) with a Buy and raises the price target from $225 to $248.

Stifel Maintains Buy on Analog Devices, Raises Price Target to $248

To say that early 2025 has been difficult for Tesla (NASDAQ:<a href="https://www.benzinga.com/quote/TSLA"> TSLA</a>) stockholders would be an understatement. Company profits and sales figures are way down, and many attribute this to the growing unpopularity of CEO Elon Musk.&nbsp; Despite that, Morgan Stanley analysts are bullish about the company's long-term outlook. Keep reading to find out why.
Tesla's public fall from grace has been as sudden as it was unexpected. As recently as a year ago, the business world hailed Musk as everything from an innovator to a genius. Tesla cars were almost unchallenged as America's favorite EV, and the future looked even brighter. The bottom began falling out shortly after Musk took on a leadership role at DOGE.
Don't Miss:
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<li>Hasbro, MGM, and Skechers trust this AI marketing firm — <a href="https://www.benzinga.com/money/rad-intel">Invest before it's too late.</a></li>
<li>Inspired by Uber and Airbnb &#8211; Deloitte's fastest-growing software company is transforming 7 billion smartphones into income-generating assets &#8211; <a href="https://www.benzinga.com/money/mode-mobile-2">with $1,000 you can invest at just $0.30/share!</a></li>
</ul>
Then there was his open embrace of Germany's far-right AFD political party. It all combined to create the perfect storm of unpopularity.<a href="https://www.benzinga.com/25/05/45376757/tesla-back-in-the-trillionaire-club-tsla-stock-roars-back-with-40-rebound-robotaxi-mania"> Tesla</a> sales plummeted in the U.S. and Europe despite rising demand for EVs. The stock tanked, and things got so bad that there were rumors that Tesla's board was quietly searching for a new CEO. That seems like a rather odd backstory for a stock that Morgan Stanley Analyst Adam Jonas rated as a "top pick."
To be certain, Jonas is not predicting that disgruntled Tesla customers will come rushing back anytime soon. His prediction is based on other factors, most notably the belief that Tesla is more than just a car company.&nbsp;
Trending: Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing — <a href="https://www.benzinga.com/money/boxabl-scaling-fast-from-spacex-orders-to-600-homes-built-this-60k-foldable-home-may-be-the-future-of-housing">this is your last chance to become an investor for $0.80 per share.</a>
According to<a href="https://www.tipranks.com/news/morgan-stanley-doubles-down-on-tesla-stock"> Tipranks</a>, Jonas is basing his analysis on an acronym that he calls D.R.E.A.M.S. The breakdown is:&nbsp;&nbsp;
<ul class="wp-block-list">
<li> Data: Even with plummeting sales numbers, Tesla has over 7 million vehicles on the road and expects that there will be 40 million by 2040. This creates an avalanche of driver and consumer data for Tesla to manipulate and market</li>
<li>Robotics: Tesla produces cars using its own robots, and this technology will have value beyond just EV production</li>
<li>Energy: Tesla is also a leader in producing electrical batteries that can power operations both large and small</li>
<li>AI: Tesla has an advance AI department that's helping to develop its self-driving cars and will have other valuable uses in the future</li>
<li>Manufacturing: Jonas says Tesla is "the "most vertically integrated, US-local sourced auto company in the world."</li>
<li>Space: Jonas believes Tesla's SpaceX division is the "data transport layer – the connective tissue of the AI ecosystem."</li>
</ul>
Jonas believes this combination of advantages and assets will allow Tesla to survive the current downturn and thrive in the long term. His analysis noted, "We're often asked what is Tesla's secret sauce? What's its moat? Well – it's not really 1 thing but the combination of 6 attributes that set Tesla apart from its peers."
See Also: Invest where it hurts — and help millions heal:<a href="https://www.benzinga.com/money/a-cure-for-osteoarthritis-powered-by-everyday-investors-cytonics-is-looking-to-beat-big-pharma-and-disrupt-a-390-billion-market"> Invest in Cytonics and help disrupt a $390B Big Pharma stronghold</a>.
He expanded on this during a<a href="https://www.youtube.com/watch?v=y-h4_TzyBm8"> CNBC interview</a>, saying, "I think Tesla is an overvalued auto company, but an undervalued onshore and renewable energy company. It is time to unleash the arsenal of democracy to control our energy destiny, and we at Morgan Stanley, at least, we struggle to find a name that's better positioned than Tesla to show us the way to do that."
Jonas has given Tesla a rating of Overweight and set a $410 price target. That means he sees Tesla as roughly 20% undervalued. That's a bullish prediction considering Tesla's current circumstances, but he's not alone in his belief that Tesla could reach the $400 per share plateau.<a href="https://www.benzinga.com/markets/equities/25/05/45387982/why-tesla-is-my-top-stock-pick-for-2025-the-year-of-elon-musk-again"> Benzinga</a> compiled<a href="https://www.benzinga.com/quote/TSLA/analyst-ratings"> Tesla target prices</a> from 27 analysts, who have a consensus price expectation of $295.23, but Stifel sees Tesla hitting $450.
Wedbush's most recent guidance from February sees Tesla hitting $475 per share. Jonas's continued belief in Tesla is rooted in the idea that the company's other technologies and capabilities give it viability as something beyond a car company. That means this could be the perfect time for investors to get back on the Tesla train.&nbsp;
Read Next:
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<li>Invest where it hurts — and help millions heal:<a href="https://www.benzinga.com/money/a-cure-for-osteoarthritis-powered-by-everyday-investors-cytonics-is-looking-to-beat-big-pharma-and-disrupt-a-390-billion-market"> Invest in Cytonics and help disrupt a $390B Big Pharma stronghold</a>.</li>
<li>Deloitte's fastest-growing software company partners with Amazon, Walmart &amp; Target – <a href="https://www.benzinga.com/money/mode-mobile-2">Many are rushing to grab 4,000 of its pre-IPO shares for just $0.30/share!</a></li>
</ul>
Image: Shutterstock

Why Morgan Stanley Remains Bullish On Tesla

Stifel analyst Alex Thompson reinstates Kymera Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KYMR#NASDAQ">KYMR</a>) with a Buy and announces $55 price target.

Initiation

KYMR

Stifel Reinstates Buy on Kymera Therapeutics, Announces $55 Price Target

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="900" height="600" src="https://contributor-assets.benzinga.com/wp-content/uploads/2025/05/20062449/Unigroup-0520-900x600-1.png" alt="" class="wp-image-13139" srcset="https://contributor-assets.benzinga.com/wp-content/uploads/2025/05/20062449/Unigroup-0520-900x600-1.png 900w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/05/20062449/Unigroup-0520-900x600-1-300x200.png 300w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/05/20062449/Unigroup-0520-900x600-1-768x512.png 768w" sizes="(max-width: 900px) 100vw, 900px" /></figure>
Zhao Weiguo, former chairman of the once highflying Tsinghua Unigroup, received a suspended death sentence last week for corruption
Key Takeaways:
<ul class="wp-block-list">
<li>The rise and fall of Zhao Weiguo, who was sentenced to death last week for corruption, is closely intertwined with China's aggressive chip ambitions, and reveals its cracks</li>
<li>The vehicle for Zhao's chip empire, Tsinghua Unigroup, has been restructured after defaulting on its debt and is currently on a less ambitious path</li>
</ul>
A courtroom in a remote city in Northeastern China's Jilin province wouldn't normally attract too much attention, focused mostly on local matters. But a verdict it delivered last week resonated not only in China, but around the world, as the career of a man who once embodied China's aggressive ambitions to build up its microchip industry, came to a quiet end.
The story of Zhao Weiguo, who received a suspended death sentence, is in many ways the story of China's race to catch up with the West in its ability to make microchips that power everything from microwave ovens to supercomputers. But it's also the story of the many problems that have come with that campaign, including its hundreds of billions of dollars in state support.
Zhao, 58, committed embezzlement, abused his power to benefit relatives and friends, and caused significant losses to the state and a listed company while chairman of state-backed&nbsp;Tsinghua Unigroup, according to numerous media reports, citing a verdict from the Jilin Intermediate People's Court.
A photo on the day of the verdict shows a humbled and gaunt Zhao in court, flanked by two policemen — a far cry from the confidence-exuding man whose acquisitions were legendary, including ambitions at one point to buy Taiwan's&nbsp;TSMC, the world's largest and most advanced contract chip maker.
The court found that Zhao used his roles at Unigroup from 2014 to 2021 to steer business and assets to his associates at the expense of the company and state interests. As a result, over 470 million yuan ($65 million) in state assets were illegally obtained, more than 890 million yuan in state losses incurred, and a listed company suffered losses exceeding 46 million yuan. The reality is that those numbers are likely only a fraction of the huge waste and corruption that occurred during Zhao's tenure.
<h4 class="wp-block-heading">Reliant on imports</h4>
China manufactures much of the world's electronics but relies heavily on imported semiconductors chips that form the "brains" of such products. As U.S.-China tensions have intensified in recent years, the country has faced increasing and more coordinated restrictions on importing some of the most advanced technologies, including chips and chip-making equipment. China has long been determined to achieve self-reliance in this area — a campaign often encapsulated by slogans such as "China Chip."
The campaign picked up significant speed in June 2014, when China released a blueprint for developing its semiconductor industry, aiming to reach advanced levels by 2030. Three months later, it established the massive China Integrated Circuit Industry Investment Fund, also known as the "Big Fund," to support companies and projects that could help to achieve its objectives. Now in its third phase, the fund has raised a staggering 680 billion yuan to date and has been marred with corruption and waste.
Zhao Weiguo appeared ideal to lead such ambitions. From his humble beginnings in a small village in Northwestern China's Xinjiang region, he went on to attend Tsinghua University, China's leading sciences institution, in the 1980s.
An electrical engineering student, Zhao said in interviews that he was inspired to become an entrepreneur after reading a book about Silicon Valley and the founding of Apple and Hewlett-Packard. His entrepreneurial spirit led him through ventures in a cement factory, the first wave of China's dot-com boom, and later real estate and infrastructure, before he founded Beijing Jiankun Investment Group in the early 2000s.
In 2009, Zhao, through Jiankun, acquired a significant stake in Tsinghua Unigroup, an entity founded in 1988 to commercialize the university's research. He became chairman of the company a year later.
For years, Unigroup remained an undistinguished state-owned enterprise without any distinct strategies or standout products. Two subsidiaries,&nbsp;Unisplendour&nbsp;and&nbsp;Unigroup Guowei, listed on the Shenzhen Stock Exchange in 1999 and 2007, respectively, but both drew little attention and were largely obscure small caps.
<h4 class="wp-block-heading">In search of acquisitions</h4>
Seeking to raise his company's profile, Zhao began looking for acquisitions, often browsing financial websites in search of targets. One night in late 2012, he spotted&nbsp;Spreadtrum Communications, a Nasdaq-listed Chinese telecoms chipmaker, and ultimately purchased it in 2013 for $1.78 billion. That marked Unigroup's first move into the chip industry, kicking off a years-long acquisition binge targeting big names both in China and abroad.
In 2014, the company acquired Spreadtrum rival&nbsp;RDA Microelectronics, and later merged the two. In 2015, it acquired 51% of&nbsp;Hewlett-Packard's H3C Technologies and the U.S. PC giant's China server, storage, and technology services businesses for about $2.3 billion. In one of its crowning achievements, Unigroup in 2016 founded&nbsp;Yangtze Memory Technologies,&nbsp;now considered China's national champion for memory chips.
A number of its attempts to acquire major international tech firms were blocked as Unigroup's profile rose and the West became wary of letting China acquire its most advanced technologies. The company's attempts to acquire leading U.S. disk drive maker&nbsp;Western Digital&nbsp;and memory chip maker&nbsp;Micron&nbsp;were both blocked by the U.S. in 2015 over national security concerns. Zhao's attempts to buy leading chip packaging and testing companies in Taiwan were also blocked for similar reasons.
The aggressive expansion and failed acquisition attempts quickly made Unigroup China's most influential chip conglomerate. But the campaign also left the company heavily in debt, even as it received significant state funding from various sources, reportedly including 150 billion yuan from China Development Bank and the Big Fund in 2017.
Its debt load soon became unsustainable, as many of its ventures gobbled up cash without yielding big returns. The company defaulted on its first bond in November 2020, by which time it had accumulated more than 200 billion yuan in debt. Unigroup was forced to restructure, and a government-led consortium led by Beijing Zhiguangxin Holding took control in 2022, by which time the company had sold off stakes in both its core and non-core businesses.
Zhao's star was already rapidly fading by that time, and took a final hit when China launched an anti-corruption campaign targeting the sector, which ultimately netted not only himself but also multiple executives from the Big Fund and other chip firms.
Zhao could still emerge from prison in as little as 15 years under his suspended death sentence, which is considered lenient because he confessed his crimes and returned his illegal gains. But Unigroup's huge waste and cost to the state will remain a blemish on China's chip ambitions for far longer, even if it ultimately achieves its aim of making the country into a global semiconductor powerhouse.

Asia

Opinion

Tech

Corruption Case Blemishes China's Chip Ambitions

Charles Schwab (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCHW#NYSE">SCHW</a>) has outperformed the market over the past 20 years by 2.56% on an annualized basis producing an average annual return of 10.87%. Currently, Charles Schwab has a market capitalization of $162.09 billion. 
Buying $1000 In SCHW: If an investor had bought $1000 of SCHW stock 20 years ago, it would be worth $7,887.71 today based on a price of $89.21 for SCHW at the time of writing.
<h3>Charles Schwab's Performance Over Last 20 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1747750514_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

SCHW

$1000 Invested In This Stock 20 Years Ago Would Be Worth This Much Today

Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) may be flirting with all-time highs again and this is not déjà vu from November 2024. BTC's surge back then was turbocharged by sentiment and speculation. This time around, the rally is built on sturdier ground. Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) isn&#8217;t going unnoticed either. <a href="https://www.benzinga.com/crypto">The crypto company went </a>up 40% in a week.
While price action is bullish for both tokens, what's driving their momentum today may be structurally different.
Read Also: <a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45504098/bitcoin-ethereum-rebound-while-xrp-dogecoin-struggle-105000-remains-critical-resistance">Bitcoin, Ethereum Rebound While XRP, Dogecoin Struggle — $105,000 Remains Critical Resistance</a>
<h2 class="wp-block-heading">Bitcoin: Slower Climb, Stronger Foundation?</h2>
Bitcoin surged from roughly $94,000 in early May 2025 to over $106,000 &#8211; up 13%. While that may seem impressive, James Toledano, chief operating officer at Unity Wallet, says the move "echoes" the November 2024 rally, when BTC spiked nearly 37% in a single month.
"Many of the driving forces appear to be the same," says Toledano, pointing to "rapid price increases and strong institutional interest." However, the current rally is supported by more than just sentiment.
"This ascent is fueled by the cooling tariffs, which has helped ease market chaos, increased ETF inflows, and recent corporate acquisitions like <a href="https://www.benzinga.com/markets/25/05/45510163/el-salvadors-bitcoin-holdings-show-357-million-in-unrealized-profit-as-bitcoin-closes-at-record-high">Metaplanet's purchase of 1,004 BTC</a>," he says. 
Compared to last year's sentiment-driven rally, Toledano sees today's uptrend as "underpinned by tangible institutional adoption and policy support," suggesting it may be more sustainable.
<h2 class="wp-block-heading">Ethereum Up 40% In A Week</h2>
Ethereum's recent 40% surge was catalyzed by a successful network upgrade and improving global macro conditions. But Dom Harz, co-founder of BOB, believes it reflects more profound changes.
"The recent rally in Ethereum's price isn't just about short-term positioning, but rather is a reflection of a deeper shift in the market's understanding of what the future of blockchain infrastructure will look like," says Harz.
He argues the conversation is shifting from siloed chains to hybrid models &#8220;that leverage the best of both worlds: security and liquidity on Bitcoin's side, and battle-tested dApps with proven UX on Ethereum's side."
Per Harz, security remains the core requirement for financial infrastructure. As such, Bitcoin "will become the foundation for the next generation of DeFi."
Ethereum's future depends on "alignment," not competition. "This isn't about allegiance," he concludes. "It's about alignment."
While both Bitcoin and Ethereum are soaring, their convergence through institutional adoption and hybrid infrastructure could define the next phase of crypto—and smart money is betting on that.
Read Next: 
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45517785/bitcoin-to-hit-500000-by-2028-standard-chartered-says-as-etfs-buy-667m-on-monday">Bitcoin To Hit $500,000 By 2028, Standard Chartered Says, As ETFs Buy $667M On Monday</a></li>
</ul>
Photo: Shutterstock

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

Cryptocurrency

Long Ideas

Markets

$BTC

$ETH

Bitcoin Vs. Ethereum? Try BTC + ETH - Why Smart Money Bets On Both

RBC Capital analyst Mike Dahl maintains Smith Douglas Homes (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SDHC#NYSE">SDHC</a>) with a Sector Perform and lowers the price target from $21 to $16.

SDHC

RBC Capital Maintains Sector Perform on Smith Douglas Homes, Lowers Price Target to $16

Eyenovia Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EYEN#NASDAQ">EYEN</a>) shares surged 38.9% to $1.57 on Tuesday morning after the ophthalmic technology firm announced progress in its planned merger with Betaliq and reported an improved first-quarter financial performance.
What To Know: The company <a href="https://www.benzinga.com/pressreleases/25/05/g45507443/eyenovia-provides-updates-on-potential-merger-with-betaliq-and-development-of-the-optejet-user-fil">extended</a> its exclusive merger negotiation period with Betaliq, a private pharmaceutical firm focused on glaucoma therapies, until June 7, 2025, signaling continued momentum toward a definitive agreement. Eyenovia aims to leverage Betaliq's proprietary Eyesol platform alongside its own FDA-approved Optejet delivery technology.
Separately, the company confirmed it remains on track to file for U.S. regulatory approval of its Optejet user-filled device in September, which could unlock new commercial channels. Financially, Eyenovia <a href="https://www.benzinga.com/pressreleases/25/05/g45507443/eyenovia-provides-updates-on-potential-merger-with-betaliq-and-development-of-the-optejet-user-fil">reported</a> a narrower first-quarter net loss of $3.5 million, or $1.59 per share, down from $10.9 million, or $18.75 per share, a year earlier. 
Operating expenses fell 70% year-over-year following a broad restructuring initiative and a new debt agreement that defers repayments. CEO Michael Rowe said these efforts are designed to strengthen the balance sheet and position the company for value creation through the potential merger and device approval later this year.
Read Also: <a href="https://www.benzinga.com/25/05/45516277/wall-streets-most-accurate-analysts-give-their-take-on-3-energy-stocks-with-over-4-dividend-yields">Wall Street&#8217;s Most Accurate Analysts Give Their Take On 3 Energy Stocks With Over 4% Dividend Yields</a>
<h2 class="wp-block-heading">How To Buy EYEN Stock</h2>
Besides going to a brokerage platform to purchase a share &#8211; or fractional share &#8211; of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument. 
For example, in Eyenovia&#8217;s case, it is in the Health Care sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.
According to data from&nbsp;<a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>, EYEN has a 52-week high of $124.80 and a 52-week low of $0.85.

EYEN

Eyenovia (EYEN) Shares Explode On Betaliq Merger Progress, Strong Q1 Financials

Raymond James analyst John Freeman maintains EOG Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EOG#NYSE">EOG</a>) with a Strong Buy and raises the price target from $140 to $148.

Raymond James Maintains Strong Buy on EOG Resources, Raises Price Target to $148

RIVN

Rivian Automotive shares are trading higher after the company announced a collaboration with Samsara to streamline the management of electric fleets by integrating vehicle data into Samsara's connected operations platform.

RBC Capital analyst Mike Dahl reiterates Smith Douglas Homes (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SDHC#NYSE">SDHC</a>) with a Sector Perform and lowers the price target from $21 to $16.

RBC Capital Reiterates Sector Perform on Smith Douglas Homes, Lowers Price Target to $16

Eyenovia shares are trading higher after the company provided an update on its merger with Betaliq. The company also reported better-than-expected Q1 EPS results.

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="900" height="600" src="https://contributor-assets.benzinga.com/wp-content/uploads/2025/05/20070916/Tungshifu.jpeg" alt="" class="wp-image-13143" srcset="https://contributor-assets.benzinga.com/wp-content/uploads/2025/05/20070916/Tungshifu.jpeg 900w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/05/20070916/Tungshifu-300x200.jpeg 300w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/05/20070916/Tungshifu-768x512.jpeg 768w" sizes="(max-width: 900px) 100vw, 900px" /></figure>
The Xiaomi-backed leading maker of copper-based cultural and creative crafts is seeking to list in Hong Kong, feasting on the country's growing love of kitsch
<h4 class="wp-block-heading">Key Takeaways:</h4>
<ul class="wp-block-list">
<li>Tongshifu has filed to list in Hong Kong, boasting a profit that surged nearly 80% last year and a list of backers including Xiaomi</li>
<li>Online direct sales, many for crafts based on its self-developed IPs, account for a sizable share of the company's revenue</li>
</ul>
The "goods economy" is all the rage these days, reflecting a growing Chinese love of kitsch, collectibles and role-playing items as forms of escapism in economically troubled times. A growing field of companies are cashing in on the craze, led by Pop Mart (9992.HK), whose stock has surged many-fold this year on the popularity of its collectible toys. Rival toymaker Bloks (0325.HK) has also been on a winning streak since going public earlier this year.
Now,&nbsp;Hangzhou Tongshifu Cultural and Creative (Group) Co. Ltd.&nbsp;is hoping to join that pair as the latest "goods economy" stock for investors, filing earlier this month for a Hong Kong IPO.
Founded in 2013 by Yu Guang, the company makes copper-based cultural and creative crafts. It has collected its own list of relatively big-name investors since then, including Beijing GX Equity Fund, as well as Tianjin Jinmi and Shunwei, which are linked to Xiaomi and its charismatic founder Lei Jun. Yu currently holds 26.27% of the company's stock, while Xiaomi is second with 9.56%, according to its&nbsp;<a href="https://www1.hkexnews.hk/app/sehk/2025/107350/documents/sehk25050901302.pdf">listing document</a>.
<h4 class="wp-block-heading">Former Shenzhen listing candidate</h4>
Tongshifu is no newcomer to IPOs. It previously considered listing on the Shenzhen Stock Exchange's Nasdaq-style ChiNext Board, but later aborted the plan and pivoted to Hong Kong, according to the listing document. It cited market conditions and the strategic desire to engage with international investors to facilitate a potential future overseas expansion.
Driven by growing digitalization of content creation and collector enthusiasm, the global market for copper-based cultural and creative crafts grew from 4.57 billion yuan ($634 million) in 2019 to 6.27 billion yuan last year, averaging 6.5% annual growth over that time, according to third-party data in Tongshifu's listing document. As global demand continues to grow, sales are expected to reach 8.71 billion yuan by 2029, rising by 6.8% annually between 2024 and 2029. The Chinese market is a major driver of that growth, projected to reach 1.87 billion yuan in 2029, representing 21.5% of the global market by that time.
China's domestic copper-based cultural and creative crafts market is growing faster than the international market as local consumers take interest in products drawn from the latest national fads. The trend could even get some government support from initiatives such as those detailed in a document titled "Key Projects of the Inheritance and Development of Fine Traditional Chinese Culture during the 14th Five-Year Plan Period."
Such documents emphasize commercial development of traditional Chinese crafts and intangible cultural heritage, as well as the modernization of craft industries, which could catalyze Tongshifu's market going forward. Such government initiatives often bring extra support to sectors they target through things like grants and subsidies for people who buy such products.
<h4 class="wp-block-heading">Concentrated market</h4>
The copper-based cultural and creative crafts industry in which Tongshifu operates isn't especially crowded. According to the listing document, the sector's top three companies accounted for as much as 70% of sales last year. Among those, Tongshifu is the undisputed leader with 35% of sector-wide revenue and 44.1% of online sales.
The company's business consists of three main segments: direct sales, which accounted for the big majority 76.7% of its revenue last year; distribution, which made up 20.5% of sales; and consignment, which was the smallest at 2.8% of its 2024 revenue. The lion's share of direct sales are online, over popular platforms like Tmall, JD.com and Douyin, accounting for as much as 92% of total direct sales and 70.5% of the company's revenue. Tongshifu's products are on the pricier side, with its average transaction value per online customer at more than 750 yuan.
Offline, the company is also developing other new channels. It was operating nine directedly managed stores in high-traffic, strategically important commercial sites in new tier-one cities and tier-two cities across China at the end of last year.&nbsp;
A key element to success in the "goods economy" is developing your own intellectual property (IP), which is far more profitable than licensing characters from third parties, but is also costlier and risky if your self-developed IPs don't succeed. Tongshifu derives a substantial share of its revenue from products based on self-developed IP, representing around 90% of its revenue over the last three years. It generated about 1,000 new original IPs over that period, and also rolled out copper-based accessories and crafts based on licensed IPs from franchises such as Kung Fu Panda, Transformers and Jurassic World.
The "goods economy" is also highly seasonal, concentrated around certain holidays and festivals due to such products' suitability as gifts. Tongshifu says its sales tend to run especially hot during China's "Double 11" and "Double 12" shopping festivals in November and December, respectively, as well as during the Lunar New Year holiday and other major holidays such as the Oct. 1 National Day and Mid-Autumn Festival.
<h4 class="wp-block-heading">Rising and falling with copper prices</h4>
Tongshifu has been on a relatively solid growth trajectory, with its revenue rising 12.8% last year to 571 million yuan, as its profit grew by an even faster 79% to 78.98 million yuan. At the same time, operating costs as a percentage of revenue have come down from 67.8% in 2022 to 64.6% last year.
Copper remains the company's biggest cost, accounting for about half of its total cost of revenue over the last three years. That could be problematic in the future, since global demand for copper is likely to rise, driven by arrival of the AI age and associated need for upgrades of aging power grids in the U.S. and Europe. Growing demand for the metal from such industrial clients could drive up copper prices, which would pressure Tongshifu's profit margins.
In terms of valuation, "goods economy" peers like&nbsp;Pop Mart,&nbsp;Bloks&nbsp;and Japan's&nbsp;Sanrio&nbsp;(8136.JP), creator of the Hello Kitty franchise, currently trade at relatively high forward price-to-earnings (P/E) ratios, including 35 for Pop Mart, reflecting strong investor demand for their stock. That could bode well for Tongshifu if it completes its listing, which could secure a forward P/E ratio of between 20 and 30 times. Such a multiple would value it at between 1.6 billion yuan and 2.4 billion yuan – a fairly substantial sum for a company selling copper toys that are serious business.

IPOs

Xiaomi-backed Firm Rides China's 'Goods Economy' To IPO

Raymond James analyst John Freeman maintains ConocoPhillips (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COP#NYSE">COP</a>) with a Outperform and raises the price target from $103 to $109.

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RBC Capital analyst Kenneth Lee reiterates Rithm Capital (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RITM#NYSE">RITM</a>) with a Outperform and maintains $13 price target.

RITM

RBC Capital Reiterates Outperform on Rithm Capital, Maintains $13 Price Target

Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) stock edged higher by as much as 3.5% to $354.15 early Tuesday morning after CEO Elon Musk, speaking at the Qatar Economic Forum, said he remains committed to leading the company for the next five years.
What Else: Investors welcomed the announcement, viewing it as a sign of stability during a period of uncertainty for the electric vehicle maker. Musk also claimed Tesla has &#8220;already turned around&#8221; following a <a href="https://www.benzinga.com/news/earnings/25/04/44937440/tesla-q1-misses-estimates-as-tariff-pressures-weigh-on-outlook-lower-cost-evs-still-on-track">difficult first quarter</a> marked by falling revenue, lower deliveries and missed earnings estimates. 
Despite these challenges, Musk's renewed leadership pledge and optimism suggest confidence in Tesla&#8217;s upcoming product roadmap, including affordable models in 2025 and the <a href="https://www.benzinga.com/topic/cybercab">Cybercab</a> in 2026.
The market likely interpreted the comments as a vote of confidence in Tesla's long-term strategy amid a volatile macroeconomic landscape.
Read Also: <a href="https://www.benzinga.com/25/05/45513708/tesla-new-vehicle-registrations-surge-in-china-gary-black-says-it-should-provide-investors-some-relief">Tesla New Vehicle Registrations Surge In China, Gary Black Says It Should Provide Investors Some Relief</a>
<h2 class="wp-block-heading">How To Buy TSLA Stock</h2>
Besides going to a brokerage platform to purchase a share &#8211; or fractional share &#8211; of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument. 
For example, in Tesla&#8217;s case, it is in the Consumer Discretionary sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.
According to data from&nbsp;<a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>, TSLA has a 52-week high of $488.54 and a 52-week low of $167.41.

TSLA

Tesla Stock Rises After Musk Reaffirms Leadership And Business Rebound

Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) is getting closer to a $4 trillion market cap, with Goldman Sachs lifting its 12-month price target from $480 to $550. The firm cited a growing conviction in the tech giant&#8217;s AI-first strategy and <a href="https://www.benzinga.com/tech">expanding enterprise cloud dominance. </a>
The stock, currently trading near $459, would need to rally nearly 20% to hit that level — a move Goldman believes is increasingly likely following announcements from Microsoft Build 2025.
In a note shared Tuesday, Kash Rangan, equity analyst at Goldman, said Microsoft is &#8220;positioned at the forefront of developer tool innovation&#8221; thanks to a wave of AI announcements that strengthen its competitive edge across infrastructure, platforms, and applications.
Big Bets on Open AI Tools and Developer Adoption
At Build 2025 – Microsoft&#8217;s annual conference – the tech giant rolled out updates across its AI platforms, including GitHub Copilot, which now has more than 15 million users — four times more than a year ago. 
A new Copilot coding agent can now write, run, and test code with little help from developers, which could lead to wider adoption and stronger monetization.
Copilot Studio, Microsoft's low-code platform for building AI agents, has already been used by over 230,000 organizations, including 90% of Fortune 500 companies. 
More than 1 million agents have been created, and new features like Copilot Tuning and multi-agent orchestration allow companies to build smarter, more customized tools using their own data.
<h3 class="wp-block-heading">Open Protocols Could Be A Game-Changer</h3>
Goldman sees Microsoft's commitment to Model Context Protocol (MCP) — likened to HTTP for the AI agent world — as a foundational shift. 
&#8220;MCP represents Microsoft&#8217;s commitment to the open, standardized development of AI agents; we see this common protocol helping catalyze adoption of Microsoft&#8217;s broader platform and applications,&#8221; Rangan said. 
The MCP lets different apps and agents work together easily. Microsoft backing this open approach could help its AI tools become more widely adopted.
The investment bank compared it to the early internet, where open standards allowed developers to build freely and create massive value.
One example is NLWeb, an open-source tool based on MCP that turns websites into natural language-driven AI applications. 
This, according to Goldman, lowers the barrier to AI adoption and further entrenches Microsoft's platform in the enterprise and developer ecosystems.
<h3 class="wp-block-heading">Azure Foundry And Infrastructure Expansion</h3>
Microsoft is also expanding its Azure AI Foundry, a platform that helps companies build and run AI tools at scale. Less than a year since launch, it has over 70,000 users and processed more than 100 trillion tokens last quarter — a fivefold increase year over year.
The company is doubling down on cloud infrastructure, with more than 70 global regions and 10 new data centers added in just the last three months. 
New investments include liquid cooling systems, more fiber-optic networks, and in-house hardware like Azure Cobalt CPUs.
A Familiar Playbook For AI Monetization
Goldman believes Microsoft is using the same strategy that worked with Office 365 — creating tiered pricing for its AI tools that will lead to steady growth and stronger margins. As products like Microsoft 365 Copilot and Dynamics AI become more powerful, businesses may be more willing to pay for them.
With tech becoming a bigger piece of the global economy, and Microsoft investing heavily across cloud, AI, and productivity software, Goldman sees plenty of room for upside.
Goldman estimates Microsoft Cloud — which includes Azure, Office 365 Commercial, Dynamics 365, and LinkedIn Commercial — will generate more than $300 billion in revenue by fiscal year 2029, up from under $140 billion today. 
This forecast assumes a compound annual growth rate of roughly 22% from fiscal-year 2024 levels, supported by rising penetration of its E5 suite, increased AI monetization, and broader enterprise demand.
A 20% rally from current levels would make Microsoft the first publicly traded company to surpass the $4 trillion valuation milestone. 
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Photo: Shutterstock

Large Cap

MSFT

Microsoft's $4 Trillion Moment Is Now In Sight: Goldman Sachs

Raymond James analyst Simon Leopold downgrades Nutanix (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTNX#NASDAQ">NTNX</a>) from Outperform to Market Perform.

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