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Ispire Technology

Ispire Technology Inc is engaged in the research and development, design, commercialization, sales, marketing, and distribution of branded e-cigarettes and cannabis vaping products. The company sells its cannabis vaping in the United States, Europe, Canada, and South Africa.

Ispire Technology Inc

The European Union is reportedly preparing to levy a hefty fine on X, a social network owned by&nbsp;Elon Musk. The fine, which could exceed $1 billion, is expected to be announced this summer.
What Happened: This penalty would be the first under the new EU law. The fine could exceed $1 billion as regulators seek to discourage other companies from breaching the Digital Services Act, <a href="https://www.nytimes.com/2025/04/04/us/politics/musk-x-european-union-fine.html">reported</a> The New York Times.
A source told the publication that the European regulators &#8220;..want it to be big enough to pressure other companies to comply with the law.&#8221; 
The European Commission concluded last year that X had breached the Digital Services Act, aimed at tackling unlawful content and misinformation. The regulators are now deliberating on the appropriate penalty. &#8220;The&nbsp;penalties are set to include&nbsp;a fine and demands for&nbsp;product changes,&#8221; the Times reported, citing four individuals familiar with the plans.
X&#8217;s global government affairs account hit back at the European regulators on Friday. &#8220;If&nbsp;the reports that the European&nbsp;Commission is considering enforcement actions&nbsp;against X are accurate, it&nbsp;represents an unprecedented act of&nbsp;political censorship and an attack&nbsp;on free speech,&#8221; X stated.
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="606" height="267" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/07030439/image-52.png" alt="" class="wp-image-859260" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/07030439/image-52.png 606w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/07030439/image-52-300x132.png 300w" sizes="(max-width: 606px) 100vw, 606px" /></figure>
SEE ALSO:&nbsp;<a href="https://benzinga.com/25/04/44660218/commerce-secretary-howard-lutnick-says-army-of-workers-will-build-iphones-in-the-us-but-trumps-tariffs-could-repo" target="_blank" rel="noreferrer noopener">Howard Lutnick Says Army Of Millions Will Build iPhones In The US, But Could Trump&#8217;s Tariffs Make The Premium Apple Flagship Cost $2,300?</a>
Additionally, a separate EU investigation is ongoing, building a case that X&#8217;s lax approach to monitoring&nbsp;user-generated content has made it&nbsp;a hub for illegal hate speech and disinformation, potentially leading to further penalties.
Why It Matters: The EU launched a formal investigation into X in December 2023 to examine possible violations of the Digital Services Act, focusing on areas such as risk management, content moderation, dark patterns, advertising transparency, and researcher access to data.
Notably, in late March, the European regulators decided to <a href="https://www.benzinga.com/markets/25/03/44534573/eu-to-issue-minimal-fines-to-apple-and-meta-to-avoid-retaliation-from-trump-administration">impose minimal fines</a> on Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) and Meta (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) To avoid any pushback from the Trump administration.
This development comes on the heels of&nbsp;Elon Musk&#8216;s other ventures facing challenges in Europe. Earlier this month, Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) witnessed a <a href="https://www.benzinga.com/markets/equities/25/04/44601458/teslas-european-sales-decline-for-3rd-consecutive-month-amid-china-competition-ceo-elon-musks-political-controversies">decline in sales</a> in key European markets for three consecutive months. This downturn has been attributed to increasing competition from China and backlash against Musk&#8217;s political activities.
With the EU&#8217;s impending fine on X, Musk&#8217;s business interests in Europe could face further headwinds. The fine and potential product changes could have significant implications for X and other tech companies operating in the region.
<ul>
<li>READ MORE:&nbsp;<a href="https://benzinga.com/25/04/44655895/treasury-secretary-scott-bessent-says-stock-market-decline-is-due-to-chinas-deepseek-not-trumps-policies-mag-7-problem-not-a-maga-problem" target="_blank" rel="noreferrer noopener">Treasury Secretary Scott Bessent Says Stock Market Decline Is Due To China&#8217;s DeepSeek, Not Trump&#8217;s Policies: &#8216;Mag 7 Problem, Not A MAGA Problem&#8217; &#8211; Benzinga</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.

News

Markets

Tech

AAPL

TSLA

EU Reportedly Set To Fine Elon Musk's Social Media Platform Over $1 Billion For Violating New Digital Act: X Calls It 'An Unprecedented Act Of Political Censorship'

Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO Elon Musk has publicly voiced his criticism of&nbsp;Trump trade advisor Peter Navarro&nbsp;over President Donald Trump&#8217;s tariffs. Navarro, however, has denied any feud with Musk.
What Happened: Early Saturday Musk on his social media platform X questioned Navarro&#8217;s support of Trump&#8217;s tariffs. Musk, who has generally been supportive of President Donald Trump, has not previously commented on the President&#8217;s trade policies and their effect on the stock market.
An X user posted a video of Navarro defending the administration&#8217;s tariff calculations while praising the trade adviser&#8217;s PhD in economics from Harvard. Musk responded to the video, implying that Navarro&#8217;s Harvard economics PhD was a disadvantage.
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="615" height="194" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/07015317/image-49.png" alt="" class="wp-image-859166" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/07015317/image-49.png 615w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/07015317/image-49-300x95.png 300w" sizes="(max-width: 615px) 100vw, 615px" /></figure>
Musk also&nbsp;responded&nbsp;"yup" to a post that quoted economist Thomas Sowell, stating, "In every disaster throughout American history, there always seems to be a man from Harvard in the middle of it."
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="605" height="457" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/07020345/image-50.png" alt="" class="wp-image-859177" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/07020345/image-50.png 605w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/07020345/image-50-300x227.png 300w" sizes="(max-width: 605px) 100vw, 605px" /></figure>
Meanwhile, when asked on Fox News about Musk&#8217;s remarks and a possible disagreement, Navarro responded, &#8220;It&#8217;s fine, there&#8217;s no rift here.&#8221; He further suggested that Musk, as a businessman, was &#8220;simply protecting his own interest&#8221; by opposing him and Trump&#8217;s tariffs.
<figure class="wp-block-image size-full is-resized"><img loading="lazy" decoding="async" width="915" height="500" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/07023923/image-51.png" alt="" class="wp-image-859219" style="width:678px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/07023923/image-51.png 915w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/07023923/image-51-300x164.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/07023923/image-51-768x420.png 768w" sizes="(max-width: 915px) 100vw, 915px" /></figure>
&#8220;Elon is great when he sticks to his DOGE lane,&#8221; Navarro said, but stated that the billionaire &#8220;sells cars&#8221; and is &#8220;just looking out for his own interests&#8221; by opposing him and Trump's tariffs—&#8221;just like any businessperson would.&#8221;
SEE ALSO:&nbsp;<a href="https://benzinga.com/25/04/44660218/commerce-secretary-howard-lutnick-says-army-of-workers-will-build-iphones-in-the-us-but-trumps-tariffs-could-repo" target="_blank" rel="noreferrer noopener">Howard Lutnick Says Army Of Millions Will Build iPhones In The US, But Could Trump&#8217;s Tariffs Make The Premium Apple Flagship Cost $2,300?</a>
Why It Matters: Musk&#8217;s remarks surfaced as he has largely refrained from the tariff discussion. However, he later expressed a desire for the U.S. and Europe to move toward a zero-tariff system, in response to Trump's imposition of a 20% tariff on goods from the European Union.
Musk&#8217;s net worth has taken a significant hit following Trump's tariff announcement, with billions wiped off. Despite this, Forbes still ranks the billionaire as the world&#8217;s richest person, with an estimated net worth of $362.5 billion as of Sunday. Tesla's stock plunged nearly 15% between Trump's tariff announcement on Wednesday and Friday&#8217;s close at $239.43. 
In March, Musk acknowledged that although his <a href="https://www.benzinga.com/25/03/44507598/elon-musk-warns-of-significant-impact-on-tesla-due-to-trumps-auto-tariffs-the-cost-impact-is-not-trivial">auto company </a>leads in U.S. manufacturing compared to competitors, "Tesla is still significantly impacted by tariffs." Meanwhile, shares of Musk&#8217;s SpaceX, a privately held company, dropped 12% last week, as reported by secondary market data provider Notice. The decline is linked to SpaceX's reliance on products sourced from Taiwan, Vietnam, and Thailand—countries heavily impacted by Trump's tariffs.
<ul>
<li>READ NEXT:&nbsp;<a href="https://benzinga.com/markets/25/04/44660007/mark-cuban-says-between-free-trade-elon-musk-and-full-tariff-trump-it-is-the-president-who-will-win-as-st" target="_blank" rel="noreferrer noopener">Mark Cuban Says Between &#8216;Free Trade&#8217; Elon Musk And &#8216;Full Tariff&#8217; Trump, It Is The President Who Will Win As Stocks Futures Tank</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.

General

Trump Advisor Navarro Hits Back At Elon Musk's Tariff Criticism: 'Just Looking Out For His Own Interests'

Reported Friday, Marcus & Millichap's IPA Division Sells The BW In Brentwood For $58.1M, Setting Record At $744K Per Unit

New Data Demonstrate Proportion of Corrected M-AAT Reached a Mean of 91% of Total AAT in Circulation at Day 28 Following BEAM-302 Treatment in 60 mg Cohort (n=3)
Mean Decrease of 79% in Mutant Z-AAT Observed at Day 28 in 60 mg Cohort (n=3)
Fourth Cohort Evaluating 75 mg of BEAM-302 Initiated, with Updated Data from Part A of the Phase 1/2 Trial Expected to be Presented at a Medical Conference in Second Half of 2025

BEAM

Reported Saturday, Beam Therapeutics Reports 91% Mean Correction Of Circulating AAT Protein At Day 28 In BEAM-302 Phase 1/2 Trial For AATD

Mr. Simonsen currently serves as the Interim Chief Executive Officer and Chief Financial Officer of Golden Ocean Management AS

Management

GOGL

Reported Saturday, Golden Ocean Group Names Peder Simonsen CEO And Randi Navdal Bekkelund CFO, Effective June 1

Labelling Blue Origin's upcoming <a href="https://benzinga.com/general/space/25/02/44019974/katy-perry-gayle-king-lauren-sanchez-headline-next-blue-origin-space-flight-how-jeff-bezos-fiancee-crew-will-make-history">all-female space mission</a> as "gluttonous", actress Olivia Munn slammed it on a recent appearance on Today With Jenna and Friends.
What Happened: On the April 3 episode of the morning show, Munn questioned the excitement generated by the 11-minute suborbital flight, which will carry Lauren Sánchez, Gayle King, Katy Perry, Aisha Bowe, Amanda Nguyen, and Kerianne Flynn to space. "What are they doing?" Munn asked, raising doubts about the value of such a mission. "There are so many other things that are so important in the world right now."
See Also: <a href="https://www.benzinga.com/general/space/25/03/44159724/jeff-bezos-brings-amazons-hard-charging-culture-50-hour-workweek-to-blue-origin-ceo-says-growth-led-to-more-bureaucracy-less-focus">Jeff Bezos Brings Amazon&#8217;s Hard-Charging Culture, 50-Hour Workweek To Blue Origin: CEO Says Growth Led To &#8216;More Bureaucracy&#8230;Less Focus&#8217;</a>
After being told that the mission would last for 11 minutes in total, Munn drew comparisons with a high-budget amusement park ride. "It's like their own version of Space Mountain," she said, interrogating both the public spectacle and the glamorization of the short-lived journey.
Why It Matters: While the flight is being touted as a "milestone" for gender representation in space travel, Munn wasn't persuaded. "If you wanna go to space, why do you need to tell us about it?" she asked. "Just go, have a good time, come back down." She also expressed concerns about the ecological impact and the immense financial requirements. "It's so much money to go to space, and there's a lot of people who can't even afford eggs," she observed.
Munn also seemed shocked by reports that the crew planned to be "in full glam" for the flight, retorting, "They said this out loud?" She added, "What's the point? Is it historic that you guys are going on a ride? I think it's a bit gluttonous."
The mission will be Blue Origin's 11th human flight and 31st overall. Its all-female lineup and high-profile participants have been focal points in the promotions rolled out by Blue Origin.
In 2023, data from UNOOSA demonstrated that women comprised just 11% of the world's astronauts, only 6.6% of spacewalks had been performed by women, and only 20% of the broader space workforce was made up of women.
Read Next:
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<li><a href="https://www.benzinga.com/25/04/44655959/elon-musks-spacex-jeff-bezos-blue-origin-and-boeing-lockheeds-ula-bag-13-5-billion-pentagon-launch-contracts">Elon Musk&#8217;s SpaceX, Jeff Bezos&#8217; Blue Origin, And Boeing-Lockheed&#8217;s ULA Bag $13.5 Billion Pentagon Launch Contracts</a></li>
</ul>

SPACE

Olivia Munn Questions Purpose And Cost Of Blue Origin's 'Gluttonous' All-Female Space Mission

XRP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>) may have been hammered in the Sunday crash, but futures traders are optimistic that the price will recover soon.
What Happened:&nbsp;About 74% of Binance traders with&nbsp;open XRP&nbsp;futures positions were positioned long on the fourth-largest cryptocurrency, <a href="https://www.coinglass.com/LongShortRatio">according </a>to Coinglass, up from 70% a day ago. This is despite a 21% drop in its price in the last 24 hours.
A few predictions justified the positioning. Widely followed cryptocurrency analyst CrediBULL Crypto opined that XRP&#8217;s pullback before outperformance made sense.
&#8220;I remain more bullish than ever on XRP and its continued outperformance. This would just be a small speed bump along the way, nothing more,&#8221; the analyst added.
Interestingly, the analyst said they expect a &#8220;deviation&#8221; and not a &#8220;breakdown&#8221; below $1.80 before the next leg up.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Watch my last Youtube vid I explained exactly this. XRP has outperformed ETH by 250+% off the last time I said it would outperform but its hit local resistance now so a pullback before more outperformance would make sense. In other words, temp weakness as it digests the last move… <a href="https://t.co/e4L7BsmvkG">https://t.co/e4L7BsmvkG</a>
&mdash; CrediBULL Crypto (@CredibleCrypto) <a href="https://twitter.com/CredibleCrypto/status/1909067680264688104?ref_src=twsrc%5Etfw">April 7, 2025</a></blockquote>
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Conversely, noted economic analyst Jesse Colombo painted a bearish narrative, highlighting XRP&#8217;s drop below its support zone.
&#8220;The head and shoulders pattern projects it sinking all the way back to 60 cents in a complete unwinding of its fall rally,&#8221; Colombo projected.
The head and shoulders chart pattern depicts a bullish-to-bearish trend reversal, signaling that an upward trend is nearing its end.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24XRP&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$XRP</a> is officially breaking below its support zone. The head and shoulders pattern projects it sinking all the way back to 60 cents in a complete unwinding of its fall rally. <a href="https://t.co/V9vwNborDy">pic.twitter.com/V9vwNborDy</a>
&mdash; Jesse Colombo (@TheBubbleBubble) <a href="https://twitter.com/TheBubbleBubble/status/1909035090773966912?ref_src=twsrc%5Etfw">April 7, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also:&nbsp;<a href="https://benzinga.com/markets/cryptocurrency/25/04/44660250/peter-schiff-warns-against-taking-investment-advice-from-trumps-as-eth-crashes-45-since-eric-trumps-push" target="_blank" rel="noreferrer noopener">Peter Schiff Warns Against Taking Investment Advice From Trumps As ETH Crashes 45% Since Eric Trump&#8217;s Push &#8211; Grayscale Ethereum Mini Trust (ETH) Common units of fractional undivided beneficial interes</a>
Why It Matters:&nbsp;These predictions come amid a significant downturn in the cryptocurrency market. 
Leading assets, including Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>), <a href="https://www.benzinga.com/trading-ideas/movers/25/04/44659799/bitcoin-plunges-below-80000-ethereum-dogecoin-crash-as-cryptocurrencies-mirror-stocks-amid-trump-tariff-mayhem-analyst-flags-critical-support-level-for-btc">experienced a massive sell-off</a>, primarily attributed to concerns over President Donald Trump&#8217;s tariff policies.&nbsp; The apex cryptocurrency tumbled to $75,000 as of this writing, its lowest in five months. 
Price Action:  At the time of writing, XRP was exchanging hands at $1.65, down 21.45% 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>. Year-to-date, the cryptocurrency was down 18.92%.
Image via Shutterstock
Read Next:&nbsp;
<ul>
<li><a href="https://benzinga.com/markets/cryptocurrency/25/04/44660250/peter-schiff-warns-against-taking-investment-advice-from-trumps-as-eth-crashes-45-since-er" target="_blank" rel="noreferrer noopener">Peter Schiff Warns Against Taking Investment Advice From Trumps As ETH Crashes 45% Since Eric Trump&#8217;s Push</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.<a href="https://www.benzinga.com/apis?utm_source=benzinga.com&amp;utm_campaign=article-bottom" rel="noreferrer noopener" target="_blank"></a>

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

Cryptocurrency

$BTC

$ETH

$XRP

XRP Futures Traders Bullish On Coin's Price Increase Despite A 20% Fall — Analyst Terms Decline As 'Small Speed Bump'

BHVN

Reported Saturday, Biohaven Presents At AAN 2025: 13 Abstracts Reflect Progress On Novel CNS Therapies Targeting High-Unmet-Need Neurological Disorders

ATTENTION-AD trial data through 192 weeks presented at AD/PDTM 2025 Conference
Prespecified delayed-start analysis indicate disease-modifying effect of oral blarcamesine and importance of early and continued long-term treatment of chronic Alzheimer's disease
Blarcamesine exhibited a favorable safety profile with no treatment-related deaths

AVXL

Reported Saturday, Anavex Announces 4-Year Data For Oral Blarcamesine In Early Alzheimer's Disease, Showing Sustained Cognitive And Functional Benefit

Renowned cryptocurrency analyst Michaël van de Poppe warned Monday that Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) could test the $70,000 level amid what he described as &#8220;Black Monday&#8221; panic selling, as global markets experience their worst selloff since March 2020.
What Happened: &#8220;Black Monday, Bitcoin back to the lows,&#8221; van de Poppe wrote on X. &#8220;I think we&#8217;ll see a rollercoaster 1-2 weeks in which we&#8217;re having a test of the lows for Bitcoin. It can go as deep as $70K from here.&#8221;
Bitcoin was trading at $74,958.16, down 9.86% in the last 24 hours, extending losses as U.S. stock futures plummeted Sunday evening. Dow Jones Industrial Average futures fell over 1,000 points following a historic selloff that has erased trillions in U.S. <a href="https://www.benzinga.com/markets/equities/25/04/44659686/stock-futures-tank-dow-sheds-over-1000-points-as-white-house-remains-firm-on-tariffs-trump-says-sometimes-you-have-to-take-medicine">market value since Thursday</a>.
The catalyst for the market turbulence was President Donald Trump&#8216;s sweeping new tariffs on imports from U.S. trading partners, announced Wednesday after market close. This triggered a crash on Thursday and Friday, when China <a href="https://www.benzinga.com/general/market-summary/25/04/44660779/sp-500-dow-jones-on-course-to-mimic-rare-consecutive-losses-not-seen-since-the-great-depression-whats-driving-the-fear">announced retaliatory measures</a>.
Trump remained firm on the tariff strategy despite mounting market pressure. &#8220;I don&#8217;t want anything to go down, but sometimes you have to take medicine to fix something,&#8221; Trump said Sunday.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">There we go. Black Monday, <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> back to the lows. It&#39;s hard to judge how deep we&#39;ll go in times of panic, but we&#39;re taking the liquidity beneath the low and we&#39;ll be waiting on: &#8211; Trump delaying Tariffs (not happening) &#8211; FED announcing emergency meeting (max 1-2 weeks) -… <a href="https://t.co/acAPJrS5xB">pic.twitter.com/acAPJrS5xB</a>
&mdash; Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1909131213559771156?ref_src=twsrc%5Etfw">April 7, 2025</a></blockquote>
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See Also: <a href="https://www.benzinga.com/markets/equities/25/04/44659926/dan-ives-cuts-tesla-target-to-315-slashes-apple-by-23-amid-tariff-fallout-warns-elon-musk-led-ev-maker-faces-darker-days-ahead">Dan Ives Cuts Tesla Target To $315, Slashes Apple By 23% Amid Tariff Fallout, Warns Elon Musk-Led EV Maker Faces &#8216;Darker Days&#8217; Ahead</a>
Why It Matters: The magnitude of consecutive market drops has drawn comparisons to the Great Depression, with analysts noting rare consecutive steep declines in major indices. Ryan Detrick of Carson Research highlighted that if the S&amp;P 500 closed down by 4% Monday, it would mark the third consecutive day of a 4% or greater decline — something only seen three times in history, <a href="https://www.benzinga.com/general/market-summary/25/04/44660779/sp-500-dow-jones-on-course-to-mimic-rare-consecutive-losses-not-seen-since-the-great-depression-whats-driving-the-fear">all during the Great Depression</a>.
Van de Poppe said Bitcoin's recovery depends on Trump delaying tariffs, which he sees as unlikely, or an emergency Fed meeting within one to two weeks. Without either, deeper losses may follow.
Despite the panic, the crypto analyst remained optimistic about Bitcoin&#8217;s long-term outlook, advising investors to consider the current correction as a buying opportunity. &#8220;If we talk about Bitcoin specific, then these are the areas where you want to be allocating assets, as it&#8217;s a 30% correction from the high. In 12-24 months from now you&#8217;ll be happy that you&#8217;ve bought in these areas,&#8221; he added.
Venture capitalist Chamath Palihapitiya suggested <a href="https://www.benzinga.com/markets/equities/25/04/44660335/chamath-palihapitiya-warns-fed-and-trump-may-no-longer-rescue-markets-as-bottom-50-of-americans-have-zero-interest-in-stocks">traditional market rescue mechanisms</a> may no longer be politically viable, noting &#8220;the bottom 50% of Americans have zero interest in the stock market,&#8221; while &#8220;Bond King&#8221; Jeff Gundlach <a href="https://www.benzinga.com/markets/bonds/25/04/44660747/bond-king-jeff-gundlach-says-fed-rate-is-too-high-by-75-bps-but-warns-cuts-unlikely-without-sharper-risk-asset-losses">warned that Federal Reserve rate cuts were unlikely</a> &#8220;unless the losses in risk assets greatly increase.&#8221;
Read Next:
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<li><a href="https://www.benzinga.com/tech/25/04/44658417/warren-buffett-stands-tall-in-2025-as-elon-musk-jeff-bezos-and-mark-zuckerberg-bleed-billions-in-net-worth-oracle-of-omaha-emerges-as-lone-gainer-among-top-billionaires-amid-market-rout" target="_blank" rel="noreferrer noopener">Warren Buffett Stands Tall In 2025 As Elon Musk, Jeff Bezos And Mark Zuckerberg Bleed Billions In Net Worth: ‘Oracle Of Omaha' Emerges As Lone Gainer Among Top Billionaires Amid Market Rout</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.

Equities

Bitcoin Could Test $70K Amid Fears Of 'Black Monday' Panic, Says Analyst Van de Poppe, As Global Markets Slide On Trump Tariff Shock

&nbsp;Integrated Gas
<figure class="table"> 
<table>
<tbody>
<tr>
<td>$ billions</td>
<td>Q4'24</td>
<td>Q1'25 Outlook</td>
<td>Comment</td>
</tr>
<tr>
<td colspan="4">Adjusted EBITDA:</td>
</tr>
<tr>
<td>Production (kboe/d)</td>
<td>905</td>
<td>910 - 950</td>
<td>Impacted by unplanned maintenance, including in Australia.</td>
</tr>
<tr>
<td>LNG liquefaction volumes (MT)</td>
<td>7.1</td>
<td>6.4 - 6.8</td>
<td>Reflects weather impact (cyclones) and unplanned maintenance in Australia.</td>
</tr>
<tr>
<td>Underlying opex</td>
<td>1.0</td>
<td>0.9 - 1.1</td>
<td>&nbsp;</td>
</tr>
<tr>
<td colspan="4">Adjusted Earnings:</td>
</tr>
<tr>
<td>Pre-tax depreciation</td>
<td>1.4</td>
<td>1.2 - 1.6</td>
<td>&nbsp;</td>
</tr>
<tr>
<td>Taxation charge</td>
<td>0.6</td>
<td>0.7 - 1.0</td>
<td>&nbsp;</td>
</tr>
<tr>
<td colspan="4">Other Considerations:</td>
</tr>
<tr>
<td colspan="4">Trading &amp; Optimisation results are expected to be in line with Q4'24, despite a higher (non-cash) impact from expiring hedge contracts compared to the previous quarter.</td>
</tr>
</tbody>
</table>
</figure>
 &nbsp;

SHEL

Shell Updates Q1 Outlook: Now projects Q1 Upstream Production At 1,790–1,890 kboe/D (Prior 1,750 – 1,950 kboe/D), LNG Output Hit By Weather; Trading And Refining Margins Strong

The S&amp;P 500 index, also known as the SPX, is widely regarded as the barometer of the overall U.S. stock market. The index measures the performance of 500 large-cap publicly traded companies in the U.S., including the "<a href="https://in.benzinga.com/trading-ideas/long-ideas/25/04/44649868/magnificent-7s-3-trillion-club-is-vacant-as-apple-stock-stumbles">Magnificent 7&#8243;</a> cohort.
Few people might be aware, though, that there even exists a cryptocurrency called SPX, which, interestingly, has netted mammoth returns to its holders over the last year.
What happened: SPX6900 (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">SPX</a>), a parody coin with a market capitalization of over $400 million, has surged an eye-popping 17474.22% in the last year.&nbsp;
In fact, the Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)-based token finished 2024 as the <a href="https://www.benzinga.com/24/12/42717267/2024s-cryptocurrency-champions-these-top-performers-surpass-bitcoin-in-a-year-of-unprecedented-gains">year's second-biggest gainer</a>, dwarfing the returns from market heavyweights like Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>).
The token&#8217;s fan page jokingly <a href="https://www.spx6900.com/">suggests </a>that it aims to challenge the dominance of the S&amp;P 500 index by establishing a new stock market index, SPX6900.
"This movement is more than numbers; it's a redefinition of dominance, relevance, and inclusion in global markets. As the financial world takes notice, the idea of the SPX6900 sends a clear message: it&#8217;s time to think bigger," the token's synopsis read.
See Also:<a href="https://www.benzinga.com/25/04/44621245/gold-backed-cryptos-match-yellow-metals-highs-following-trumps-liberation-day-shock"> Bitcoin Reeling From Trump&#8217;s &#8216;Liberation Day&#8217; Shock But These Gold-Backed Coins Are Killing It This Year</a>
The website&#8217;s disclaimer, however, clarified that the meme currency was made just for entertainment and had nothing to do with stocks or securities.
And, despite its stratospheric rise last year, SPX, like the rest of the cryptocurrency industry, has faltered in 2025. Year-to-date, the coin has plunged nearly 50% and is currently trading down 75% from its all-time highs.
Markets have been <a href="https://www.benzinga.com/trading-ideas/movers/25/04/44659799/bitcoin-plunges-below-80000-ethereum-dogecoin-crash-as-cryptocurrencies-mirror-stocks-amid-trump-tariff-mayhem-analyst-flags-critical-support-level-for-btc">pounded </a>by President Donald Trump's sweeping tariff policies in 2025. The S&amp;P 500 has lost over 13% year-to-date, with Friday marking its worst decline since March 2020. It closed 
Price Action:  At the time of writing, SPX memecoin was exchanging hands at $0.4387, down 12.39% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>. The S&amp;P 500 closed Friday down 5.97% to 5,074.08.
Photo by Igor Faun on Shutterstock
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/04/44620779/onlyfans-founders-startup-and-hbar-foundation-enter-the-race-to-acquire-tiktok-us-to-maintain-american-ownership-and-governance">OnlyFans Founder&#8217;s Startup And HBAR Foundation Enter Race To Acquire Tiktok To Maintain &#8216;American Ownership And Governance&#8217;</a></li>
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$DOGE

$SOL

$SPX

SPX Bleeding In Trump Tariff Market Mayhem But Meme Coin Sharing Its Name Has Shot Up Nearly 18000% In A Year

Announces the commencement of a new share buyback program (the ‘Program') with share repurchases to be conducted in tranches that may be announced through May 2030. Repurchases under the first tranche of the Program, which is for up to 10 million shares, will commence immediately, under the authorization given by the annual general meeting of shareholders of 30 April 2024 and subsequently, if applicable, subject to approval at the annual general meeting to be held on 6 May 2025.

Buybacks

ArcelorMittal Announces 2025–2030 Share Buyback Program; First Tranche Of Up To 10M Shares Begins Immediately

RYTM

Reported Sunday, Rhythm Pharmaceuticals To Reveal Topline Results From Pivotal Phase 3 TRANSCEND Trial Of Setmelanotide In Acquired Hypothalamic Obesity

<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/2025/04/07061857/Lianhe-Sowell-0407-01.jpeg" alt="" class="wp-image-9838" srcset="https://contributor-assets.benzinga.com/wp-content/uploads/2025/04/07061857/Lianhe-Sowell-0407-01.jpeg 900w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/04/07061857/Lianhe-Sowell-0407-01-300x200.jpeg 300w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/04/07061857/Lianhe-Sowell-0407-01-768x512.jpeg 768w" sizes="(max-width: 900px) 100vw, 900px" /></figure>
The machine vision company's shares tumbled on their second trading day last Friday, as it searches for a formula to jumpstart its stalling growth
<h4 class="wp-block-heading">Key Takeaways:</h4>
<ul>
<li>Lianhe Sowell's shares rose on their trading debut last Thursday, but tumbled the next day amid a broader market selloff on fears of a global trade war</li>
<li>The machine vision company's recent rapid revenue growth came to a sudden halt in its latest reporting period</li>
</ul>
Talk about bad timing.
Machine vision company&nbsp;Lianhe Sowell International Group Ltd.&nbsp;(LHSW.US) made its U.S. trading debut into some of the worst headwinds in years, launching its newly Nasdaq-listed stock last Thursday. The shares seemed to defy the tanking markets around it, briefly more than doubling from their&nbsp;<a href="https://www.globenewswire.com/news-release/2025/04/04/3056062/0/en/Lianhe-Sowell-International-Group-Ltd-Announces-Closing-of-Initial-Public-Offering.html">IPO price of $4&nbsp;</a>before closing up by a respectable 7.3% at $4.29.
But then reality caught up with the company on its second trading day last Friday, as the broader market continued to tank on concerns about coming chaos from Donald Trump's newly announced tariffs on most U.S. trading partners. Lianhe Sowell's shares led that charge downward by plunging 32% their second day to end at $2.92.
It's no huge surprise that this company's stock has been so volatile, as it's quite small and its float was also small, equal to just 3.8% of its outstanding shares. What's more, Lianhe Sowell's' astonishing growth that may have impressed investors when it&nbsp;<a href="https://thebambooworks.com/lianhe-sowell-eyes-big-potential-for-machine-vision-ai-with-u-s-ipo-plan/">first filed to list</a>&nbsp;in May last year suddenly stopped in the six months to last September, the first half of the company's fiscal year, according to its latest&nbsp;<a href="https://www.sec.gov/Archives/edgar/data/2004024/000101376225001647/ea0200138-17.htm#T25">updated prospectus</a>.
Lianhe Sowell's story looks both encouraging but also has factors that could limit its potential. Unlike other companies machine vision companies, which are largely reliant government customers, Lianhe Sowell sells its machines and software to other companies. That's an important difference, as governments across China are reining in their spending lately due to their large debt loads.
By comparison, the manufacturers that make up Lianhe Sowell's customer base may actually be ramping up spending as Beijing offers incentives to upgrade their facilities as a form of economic stimulus. The company makes products that can be used by manufacturers for things like identifying defective products on assembly lines and automatically capturing the identification numbers on containers entering and leaving a port.
That said, Lianhe Sowell's biggest drawback is the high degree of customization needed for its products, which means it's harder to scale up its operation.
As we've already noted, Lianhe Sowell is quite small, which is reflected in the relatively modest $8 million it raised in its IPO. The company had just 30 full-time employees at the end of March last year, though we should note that figure was up by 50% from the 20 it had just a year before and just 16 in March 2022. Presumably it may try to beef up its workforce even more with its modest IPO proceeds, which it plans to use to build up the business.
Even after the Friday share selloff, Lianhe Sowell's stock still trades at a relatively high price-to-earnings (P/E) ratio of 61, which isn't unusual for this kind of newly listed Chinese company on Wall Street. Its price-to-sales (P/S) ratio is a little more realistic at 4.14, well behind the 12.8 for much larger peer&nbsp;SenseTime&nbsp;(0020.HK) and 30.8 for&nbsp;CloudWalk&nbsp;(688327.SH), another machine vision company.
<h4 class="wp-block-heading">Stalled growth</h4>
While Lianhe Sowell is much smaller than SenseTime and CloudWalk, it underwent a brief period of explosive growth starting in its fiscal year through March 2023 as it rolled out new products and picked up customers. The company's revenue shot up to $13.1 million in the 12 months through March 2023 from just $950,000 the previous year. That growth then continued in the next fiscal year, with revenue nearly tripling year-on-year to $36.6 million in the 12 months to March 2024.
But then the growth suddenly ground to a halt. Lianhe Sowell said its revenue in the six months to September last year totaled $16.9 million, up by less than 1% from $16.8 million a year earlier. It didn't provide a clear reason for the sudden slowdown, but a closer look at its prospectus shows the company is limited by its ability to only serve a small group of customers at any given time.
Its customer turnover is also quite large, indicating most of its customers purchase the company's products and then fail to return for more. That's not too unusual for such a small company like Lianhe Sowell, whose product portfolio is quite small and thus has limited products to sell to its customers. But it also deprives it of repeat business, which is important for any growing company.
Lianhe Sowell's prospectus shows it derived 85% of its revenue from just six customers in the six months to September 2024, with the top three supplying about 70% of the total. What's more, two of the company's top customers in the year-ago period, which supplied a combined 30% of its revenue for that time, were no longer major customers a year later. This shows Lianhe Sowell is attracting major new customers, which is always a good sign, but only fast enough to replace customers it is losing.
All this means the company may have a good product, but needs to boost its team to serve more companies from its large potential customer base if it wants to continue growing. It probably needs to standardize its products more also if it wants to achieve the scale it needs to make it into the big leagues.
Reflecting the current awkwardness in its growth phase, Lianhe Sowell's gross margin in the six months to last September fell by nearly 2 percentage points to 21.2% from 22.9% a year earlier – the opposite of what you would expect from a growing company. The company attributed the decline to its efforts to obtain more customers for its newer software business, which grew 16% in the six-month period to make up 22% of its revenue from 19% a year earlier. By comparison, sales for its older hardware business fell 3% during the six months.
Despite all of its issues, Lianhe Sowell is profitable, though its net income fell to $1.25 million in the six months through last September from $1.58 million a year earlier. At the end of the day, buyers of the company's stock should probably expect more volatility in its first few trading months, especially as the global trade war heats up. They should also watch closely to see if Lianhe Sowell can restart its growth by boosting its team and standardizing its products. If it can, the company could offer some strong potential over the next few years.

Asia

Earnings

WIIM

Opinion

Signals

Trading Ideas

Is This Nasdaq Debutant A Buy After Sharp Sell-off On Day 2 Of Listing?

<ul>
<li>Q1 2025 preliminary net sales rise 7% CER and adjusted diluted EPS results of at least $0.55 CER both above outlook despite challenging macro environment</li>
<li>Full-year 2025 adjusted diluted EPS outlook raised to about $2.35 CER (prior outlook about $2.28 CER)</li>
<li>On track to exceed 31% CER adjusted operating income margin ahead of 2028 mid-term target</li>
</ul>

QGEN

Reported Sunday, QIAGEN Preliminary Q1 2025 Revenue ~$483M And Expects Adj. EPS Of At least $0.55 (Vs. $0.56 Est.); Raised 2025 EPS Target To ~$2.35 (Vs. $2.48 Est.) From Prior $2.28

The Donald Trump administration and the Federal Reserve are signaling a lack of relief amid escalating trade tensions and policy uncertainty. Experts warn that this could further drive the markets lower.
What Happened: According to Craig Shapiro from 3-Circle Investments by The Bear Traps Report, the absence of this perceived &#8220;Trump put&#8221; or &#8220;Fed put&#8221; could trigger a swift and significant market downturn.
&#8220;The market has been searching for a Trump put or a Fed put and was informed this past week that both puts are struck lower,&#8221; Shapiro noted in his analysis. He believes the Fed will only intervene when financial stability is threatened, specifically if the U.S. Treasury market begins to dysfunction.
Speaking on Friday, Federal Reserve Chair Jerome Powell emphasized that the Fed&#8217;s priority remains achieving its dual mandate of maximum employment and stable prices. 
While acknowledging that the economy is &#8220;still in a good place,&#8221; he stated that the Fed is closely monitoring the economic impact of new policies, particularly trade.
&#8220;It is too soon to say what will be the appropriate path for monetary policy,&#8221; Powell stated, highlighting the potential inflationary impact of tariffs, stating, &#8220;Looking ahead, higher tariffs will be working their way through our economy and are likely to raise inflation in coming quarters.&#8221;
&#8220;So that leaves the Trump put and him walking back from this trade agenda. So soon after he implemented in last week would seem incredibly weak for a man that rarely ever admits he was wrong,&#8221; adds Shapiro.
See Also: <a href="https://www.benzinga.com/markets/25/04/44656946/donald-trump-says-market-is-going-to-boom-claiming-6-7-trillion-worth-of-inflows-will-come-after-the">Donald Trump Says &#8216;Market Is Going To Boom,&#8217; Claiming &#8216;$6-7 Trillion&#8217; Worth Of Inflows Will Come After The Worst Selloff Since 2020</a>
Why It Matters: Jon Keidan, Founder &amp; Managing Partner of Torch Capital, echoed concerns about the long-term consequences of these tariffs.
He warned that the resulting volatility forces companies to &#8220;calculate worst-case scenarios,&#8221; impacting capital allocation, investment decisions, and overall business planning. This, Keidan argues, will lead to a &#8220;big corporate slowdown,&#8221; potentially causing demand-supply imbalances even if trade issues are resolved quickly.
Shapiro concluded his note with a stark warning: &#8220;All this being said, the lack of the &#8216;put&#8217; for now means I think we are going to go significantly lower very quickly until UsT market dysfunction starts and the Fed says &#8216;no mas&#8217; because this will eventually bleed into economic activity and exacerbate the slowdown.&#8221;
Price Action: By Friday&#8217;s close, the S&amp;P 500 was on the brink of a bear market, having fallen 17.46% from its record peak of 6,147.43 points. The Dow Jones Industrial Average was also significantly down, shedding 14.99% from its 52-week high of 45,073.63 points. The Nasdaq 100, already in bear market territory, had declined by 21.71% from its high of 22,222.61 points.
The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, slumped on Monday. The SPY was down 5.85% to $505.28, while the QQQ declined 6.21% to $422.67, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.
As of Monday, the futures of Dow Jones were lower by 3.05%, whereas S&amp;P 500 dropped 3.98% and the Nasdaq 100 declined by 5.00%.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/25/04/44644834/recession-imminent-analyst-flags-60-market-crash-risk-under-worst-tariff-scenario">Recession Imminent? Analyst Flags 60% Market Crash Risk Under Worst Tariff Scenario: &#8216;It&#8217;s Messy&#8217;</a></li>
</ul>
Photo courtesy: Federal Reserve

Analyst Color

Government

Market Summary

Futures

Economics

Federal Reserve

Lack Of 'Trump Put' Could Drive Market Lower 'Very Quickly,' Says Expert, As Fed Chair Jerome Powell Stands Ground On Rate Cuts

World's largest cruise company's newbuild pipeline includes eight&nbsp;new ships scheduled to enter service between 2025 and 2033
Multi-fuel-capable engines will provide new ships flexibility to operate using a&nbsp;range of fuel types, including low- and no-carbon bio and synthetic fuels when available at scale

Carnival Expands Newbuild Pipeline With Two Next-Generation AIDA Ships Featuring Multi-Fuel Propulsion, Deliveries Slated For 2030 and 2032

Reported Sunday, Carnival Cruise Line Unveils Expansion Strategy With Carnival Festival, New Destinations, And Fleet Innovations

Ki Corporation and Public Storage announced day the submittal of a non-binding indicative offer (NBIO) to acquire all of the outstanding stapled securities of Abacus Storage King that are not already held by Ki or its subsidiaries (together, the "Ki Group") for A$1.47 per stapled security. The Ki Group is currently ASK's major securityholder and each of Ki and Public Storage would have approximately 50% interest following the transaction.

ABACUS STORAGE KING by ABACUS STORAGE KING

ABSKF

Reported Sunday, Ki Corporation And Public Storage Submit A$1.47 Per Share Offer To Acquire Abacus Storage King

Press Releases

/C O R R E C T I O N -- Ispire Technology Inc./

Small Cap

Ispire Technology Inc. Announces Participation in the 13th Annual MJBizCon Expo

Ispire Technology Inc. Announces License Arrangement and Successful Launch of Burna Boy's BrkFst Nicotine Products Into African Markets

Ispire Technology Inc. Announces Stock Repurchase Program

Ispire Technology Inc. Schedules Fiscal Second Quarter 2025 Earnings Conference Call

Ispire Technology Inc. Reports Financial Results for Fiscal Second Quarter 2025

Ispire Technology Inc. to Participate in Webull Corporate Webinar Series on February 18, 2025

Raw Garden Introduces Sprout™ Vape, Pioneering Terpene-Safe Plastic for Cannabis Hardware

Ispire Technology Inc. to Participate in the 37th Annual ROTH Conference on March 16-18, 2025

Ispire Technology Inc. Unveils Sprout™: The Future of All-in-One Vape Technology

ISPR

British American Tobacco Industries, p.l.c. Common Stock ADR

British American Tobacco

Altria Group

Philip Morris International Inc Common Stock

Philip Morris Intl

RLX Technology Inc. American Depositary Shares, each representing the right to receive one (1) Class A ordinary share

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