U.S. stocks could get off to a positive start on Monday amid upbeat investor sentiment spurred the Dow Jones to <a href="https://www.benzinga.com/24/11/42157447/dow-settles-at-record-high-investor-sentiment-improves-fear-greed-index-remains-in-greed-zone">close at a new record high</a> on Friday.



Donald Trump's Treasury Secretary pick, Scott Bessent, has been cheered by investors. The hedge fund manager<a href="https://www.benzinga.com/news/24/11/42158330/trumps-treasury-secretary-pick-scott-bessent-says-a-global-economic-reordering-is-on-the-way-argues-president-elects-policies-will-lead-to-an-economic-lollapalooza"> told the Wall Street Journal</a> in an interview that he will make Trump's first-term tax cuts permanent, while also eliminating taxes on tips, social security benefits, and overtime pay, fulfilling the President-elect's election promises.



Expectations of a further 25 basis point rate cut in December have fallen to just 56% now, down from 75% a month ago, according <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">to</a> CME Group's FedWatch tool.



<figure class="wp-block-table"><table><tbody><tr><td>Futures</td><td>Performance (+/-)</td></tr><tr><td>Nasdaq 100</td><td>0.58%</td></tr><tr><td>S&amp;P 500</td><td>0.49%</td></tr><tr><td>Dow Jones</td><td>0.68%</td></tr><tr><td>R2K</td><td>1.12%</td></tr></tbody></table></figure>



In premarket trading on Monday, the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) was up 0.54% to $598.72 and the Invesco QQQ ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) rose 0.64% to $509.01, according to <a href="https://benzinga.grsm.io/lxquj26b2sag">Benzinga Pro data</a>.



Cues From Last Week:



Major indices on Wall Street recorded gains last week, with the Dow gaining around 2% and the S&amp;P 500 adding around 1.7%. The tech-heavy Nasdaq also registered gains to close up by nearly 1.6%, despite volatility as investors digested Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) earnings.



On the economic data front, the S&amp;P Global US Services PMI climbed to 57 in November versus 55 in the previous month, while manufacturing PMI increased to 48.8 in November from 48.5 in the previous month.



The University of Michigan consumer sentiment for the US fell to 71.8 in November versus a preliminary reading of 73.



Most sectors on the S&amp;P 500 closed on a positive note, with industrials, financials, and consumer discretionary stocks recording the biggest gains on Friday.



However, utilities and communication services stocks bucked the overall market trend, closing the session lower.



<figure class="wp-block-table"><table><tbody><tr><td>Index</td><td>Week&#8217;s Performance (+/-)</td><td>Value</td></tr><tr><td>Nasdaq Composite</td><td>1.64%</td><td>19,003.65</td></tr><tr><td>S&amp;P 500</td><td>1.7%</td><td>5,969.34</td></tr><tr><td>Dow Jones</td><td>2.18%</td><td>44,296.51</td></tr><tr><td>Russell 2000</td><td>4.54%</td><td>2,406.67</td></tr></tbody></table></figure>



Insights From Analysts:



Wells Fargo analysts have expressed optimism about food inflation cooling down further over the coming weeks, but that it could be less noticeable now than it has been over the last two years.



"Few Americans may include a slower pace of food price growth on their list of things to be grateful for this year, but our team does expect consumer price inflation for food to continue to quiet down over time—just less noticeably than has been seen over the past two years," the analysts said in a recent note.



Ryan Detrick, chief market strategist at Carson Group, continued to remain bullish on equities.



"Various advance/decline lines show no major signs of deterioration. This continues to suggest the bull market is alive and well."



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Great chart from <a href="https://twitter.com/HumbleStudent?ref_src=twsrc%5Etfw">@HumbleStudent</a> here. Various advance/decline lines show no major signs of deterioration. This continues to suggest the bull market is alive and well. Credit spreads will expand and this will weaken when the trend changes. We aren&#39;t there. <a href="https://t.co/CR0APJjCBz">pic.twitter.com/CR0APJjCBz</a>&mdash; Ryan Detrick, CMT (@RyanDetrick) <a href="https://twitter.com/RyanDetrick/status/1860724216695267673?ref_src=twsrc%5Etfw">November 24, 2024</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



He added that investors who expect a correction after the S&amp;P 500 gained 20% for two years in a row do not have history on their side. In eight of the previous such instances, the S&amp;P 500 gained an average of 12.3% in the third year, according to data compiled by Detrick.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Up 20% two years in a row? Not saying the next year can&#39;t be red, but if this is why you are bearish, history isn&#39;t on your side. <a href="https://t.co/XXDMAszm8X">pic.twitter.com/XXDMAszm8X</a>&mdash; Ryan Detrick, CMT (@RyanDetrick) <a href="https://twitter.com/RyanDetrick/status/1860829081299800536?ref_src=twsrc%5Etfw">November 24, 2024</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Nathan Peterson, Director of Derivatives Analysis at the Schwab Center for Financial Research, laid <a href="https://www.schwab.com/learn/story/weekly-traders-outlook/">out</a> the thesis for market movements for the next week.



"Taking everything into consideration, bullish seasonality, bullish technicals, a strong fundamental backdrop and a friendly Fed leave me in the bullish camp for next week," Peterson said.



This week will have a shorter trading window due to Thanksgiving, which could mean lower volume but higher volatility.



"From a seasonality perspective, November is a bullish month for stocks and &#8216;Thanksgiving Week&#8217; tends to be an up week more often than not."



See Also:<a href="https://www.benzinga.com/money/how-to-trade-futures"> How To Trade Futures</a>



Upcoming Economic Data



This week's economic calendar is not as packed as last week's due to Thanksgiving.



<ul>
<li>On Tuesday, the S&amp;P Case-Shiller home price index for 20 cities will be released at 9 a.m. ET.</li>



<li>Data on consumer confidence and new home sales will be released at 10 a.m. ET.</li>



<li>The minutes of the Fed&#8217;s November FOMC meeting will be released at 2 p.m. ET.</li>



<li>On Wednesday, initial jobless claims, advanced durable goods orders, U.S. trade balance, retail and wholesale inventories, and the first revision of GDP will be released at 8:30 a.m. ET.</li>



<li>Chicago Business Barometer (PMI) will be released at 9:45 a.m. ET.</li>



<li>Nominal personal income and spending data will be released at 10 a.m. ET.</li>



<li>PCE index and pending home sales data will be released at 10 a.m. ET.</li>
</ul>



No major economic reports are scheduled for Monday, Thursday, and Friday this week.



Stocks In Focus:



<ul>
<li>MicroStrategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42159139/microstrategy-shares-rise-in-monday-pre-market-as-michael-saylor-reveals-mstr-generating-500m-daily-amid-bitcoins-surge">stock surged</a> by more than 5% in premarket trading on Monday as Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) inched closer to the $100,000 mark.</li>



<li>Super Micro Computer Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>) stock was up nearly 7% in premarket trading after the company submitted a plan last week to be in compliance once again with the listing requirements to trade on the Nasdaq.</li>



<li>Snowflake Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNOW#NYSE">SNOW</a>) stock rose over 3.6% in premarket trading after the company was upgraded to "Outperform" by brokerage firm Wedbush.</li>



<li>Palantir Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>) stock gained 3% in premarket trading after Wedbush <a href="https://www.benzinga.com/news/global/24/11/42156160/palantir-price-target-raised-to-75-by-dan-ives-amid-288-ytd-surge-analyst-calls-2025-a-primetime-year-for-ai">upgraded its price target</a> for the company to $75 from $57.</li>



<li>Robinhood Markets Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>) stock surged 4% in premarket trading after analysts at Morgan Stanley increased the price target to $55 from $24.</li>



<li>Investors are awaiting earnings results from Bath &amp; Body Works, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBWI#NYSE">BBWI</a>), Agilent Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/A#NYSE">A</a>), and Zoom Video Communications, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZM#NASDAQ">ZM</a>) today.</li>
</ul>



Commodities, Bonds And Global Equity Markets:



Crude oil futures fell in the early New York session, declining 0.29% to hover around $71.03.



The 10-year Treasury note yield eased to 4.351%.



Major Asian markets ended mixed on Monday, while European markets edged up in early trading.



Read Next:



<ul>
<li><a href="https://www.benzinga.com/24/11/42028334/bitcoin-ethereum-dogecoin-slip-as-feds-hawkish-stance-tempers-rally-analyst-expects-btc-to-reach-100k-before-new-year">Bitcoin, Ethereum, Dogecoin Slip As Fed&#8217;s Hawkish Stance Tempers Rally: Analyst Expects BTC To Reach $100K Before New Year</a></li>
</ul>



Photo courtesy: Wikimedia

Earnings

Equities

News

Futures

Economics

Federal Reserve

Pre-Market Outlook

Markets

Movers

Trading Ideas

$BTC

BBWI

HOOD

MSTR

NVDA

PLTR

SMCI

SNOW

US Stocks Likely To Open On A Positive Note As Trump's Treasury Secretary Pick Uplifts Investor Sentiment: Expert Says 'Bull Market Is Alive And Well'

Note: This article has been updated to include Bernstein&#8217;s revised price target for MSTR.



In a remarkable turn of events,&nbsp;MicroStrategy Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) saw its shares jump by 5.93% in pre-market trading on Monday, as per <a href="https://pro.benzinga.com">Benzinga Pro</a>. This surge comes on the heels of co-founder&nbsp;Michael Saylor&#8216;s announcement that the company is generating $500 million daily as Bitcoin edges closer to the $100,000 mark.



What Happened: At the time of reporting, Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) was valued at $98,273.58. The cryptocurrency&#8217;s rise has significantly impacted MicroStrategy&#8217;s performance, as the company has heavily invested in Bitcoin.



On the same day, Canaccord Genuity reaffirmed its Buy rating for MicroStrategy&#8217;s stock, elevating its price target from $300.00 to $510.00. The firm commended MicroStrategy&#8217;s novel strategy in assessing value creation through a new key performance indicator centered on Bitcoin accretion per share and Bitcoin yield.



Bernstein&#8217;s <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42160774/microstrategy-is-the-bitcoin-magnet-says-bernstein-but-not-everybodys-sold-nothing-is-free-in-finance-says-one-analyst">Monday report also emphasizes</a> MicroStrategy&#8217;s pivotal role in bringing Bitcoin into the Wall Street mainstream, forecasting the company&#8217;s Bitcoin holdings to rise from the current 1.7% to 4% of the global supply by 2033. It also raised the price target for the stock to $600, a 42% upside from its current $421.88.



See Also:&nbsp;<a href="https://www.benzinga.com/general/social-media/24/11/42154487/robert-kiyosaki-trump-will-make-america-richer-again-by-being-the-first-bitcoin-president?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Robert Kiyosaki: &#8216;Trump Will Make America Richer Again By Being The First Bitcoin President&#8217;</a>



Why It Matters:&nbsp;Saylor&nbsp;recently revealed that&nbsp;<a href="https://www.benzinga.com/24/11/42151809/michael-saylor-reveals-microstrategy-is-making-500m-a-day-with-bitcoin-may-very-well-be-the-most-profitable-company-in-the-us-growing-the-fastest-right-now">MicroStrategy&nbsp;is minting $500 million a&nbsp;day</a>&nbsp;as Bitcoin approaches&nbsp;$100,000 for the first time. Saylor highlighted the company&#8217;s massive gains, noting that their Bitcoin holdings appreciated by $5.4 billion over two weeks. This underscores the significant impact of Bitcoin&#8217;s value on MicroStrategy&#8217;s financial health.



However, not everyone is convinced of MicroStrategy&#8217;s valuation. <a href="https://www.benzinga.com/24/11/42156261/are-microstrategys-shares-worth-only-105-investment-adviser-gary-black-weighs-in">Investment adviser Gary Black</a> questioned the company&#8217;s stock price, suggesting it might be overpriced. Black pointed out that while MicroStrategy&#8217;s Bitcoin holdings were valued at $31.2 billion, the company&#8217;s market value was $106 billion, raising concerns about its equity value.



Read Next:



<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42146459/bitcoin-on-brink-of-breaking-100000-dogecoin-up-ethereum-down-crypto-community-holds-its-breath-as-btc-guns-for-milestone?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin &#8216;On Brink Of Breaking $100,000,&#8217; Dogecoin Up, Ethereum Down: Crypto Community Holds Its Breath As BTC Guns For Milestone</a></li>
</ul>



Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.



Image via Shutterstock

Cryptocurrency

General

MicroStrategy Shares Rise In Monday Pre-Market As Michael Saylor Reveals MSTR Generating $500M Daily Amid Bitcoin's Surge (UPDATED)

Wedbush Securities has issued an endorsement of the artificial intelligence software sector, with Managing Director Dan Ives predicting that 2025 will be a pivotal year for AI implementation across the industry. This comes as Palantir Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>) continues its remarkable ascent, <a href="https://www.benzinga.com/24/11/42143996/daddys-home-palantir-creates-two-new-billionaires-after-trumps-win-both-own-less-than-2-stock-and-are-thiels-favorites">having surged 288% year-to-date</a>.



What Happened: In a notable sector-wide upgrade, Ives raised Palantir&#8217;s price target to $75 while upgrading both Elastic NV (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ESTC#NYSE">ESTC</a>) and Snowflake Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNOW#NYSE">SNOW</a>) to Buy ratings. He also increased Salesforce Inc.&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NYSE">CRM</a>) price target to $375, signaling broader confidence in the software sector&#8217;s AI potential.



&#8220;The AI Revolution is accelerating and now it&#8217;s the software sector that will benefit from the use case phase of AI set to be primetime in 2025,&#8221; Ives <a href="https://x.com/DivesTech/status/1860816966367281267">wrote</a>, adding, &#8220;Software AI age here.&#8221;



The bullish outlook aligns with <a href="https://www.benzinga.com/24/11/42094248/trumps-return-boosts-palantir-national-security-bets-drive-140-billion-market-cap">Palantir&#8217;s recent performance</a>, which has seen its market capitalization soar to approximately $140 billion, surpassing defense contractor Lockheed Martin Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>). The company&#8217;s growth has been particularly notable following recent political developments, with its stock reaching $61 per share.



See Also: <a href="https://www.benzinga.com/general/social-media/24/11/42155884/economist-slams-doges-simplistic-approach-to-government-spending-questions-super-bowl-ad-criticism">Economist Slams DOGE: Tells Elon Musk-Led Initiative To &#8216;Do Your Legal Job Well&#8217; Amid Super Bowl Ad Spending Clash</a>



Why It Matters: Palantir&#8217;s momentum is supported by concrete achievements, including a $480 million Pentagon contract for Project Maven and its first profitable year in 2023, reporting $144 million in <a href="https://www.benzinga.com/24/11/42094248/trumps-return-boosts-palantir-national-security-bets-drive-140-billion-market-cap">third-quarter net income</a>. 



The company has successfully expanded its <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/11/42039361/palantir-soars-to-150b-market-cap-as-analysts-flag-risks-in-valuation-insider-sales">commercial sector revenue</a> to 35% of total earnings, securing major contracts with CVS Health Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVS#NYSE">CVS</a>) and BP plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BP#NYSE">BP</a>).



However, some investors express caution regarding valuations. Major hedge funds, including Renaissance Technologies and ARK Investment Management, reduced their Palantir <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/11/42039361/palantir-soars-to-150b-market-cap-as-analysts-flag-risks-in-valuation-insider-sales">holdings in the third quarter</a>, though maintaining significant positions. 



The company&#8217;s P/E ratio of 328.85 and heavy retail investor base of approximately 50% have prompted discussions about <a href="https://www.benzinga.com/24/11/42094248/trumps-return-boosts-palantir-national-security-bets-drive-140-billion-market-cap">potential market volatility</a>.



Price Action: Palantir&#8217;s stock closed at $64.35 on Friday, gaining 4.87% during the regular trading session. In after-hours trading, the stock dipped slightly by 0.20%. Year-to-date, Palantir has seen a remarkable surge of 288.12%, according to <a href="https://www.benzinga.com/pro/">data from Benzinga Pro</a>.



Read Next: 



<ul>
<li><a href="https://www.benzinga.com/24/11/42155405/mcdonalds-spends-100-million-after-e-coli-outbreak-as-trust-and-love-must-be-rebuilt-says-chief-impact-officer">McDonald&#8217;s Spends $100 Million After E. Coli Outbreak As &#8216;Trust And Love&#8217; Must Be Rebuilt, Says Chief Impact Officer</a></li>
</ul>



Image Via Shutterstock 



Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Global

ESTC

Palantir Price Target Raised To $75 By Dan Ives Amid 288% YTD Surge: Analyst Calls 2025 A 'Primetime' Year For AI

Bitcoin recovered strongly from its morning fall as cryptocurrency investors prepared for Thanksgiving.



<figure class="wp-block-table"><table><tbody><tr><td>Cryptocurrency</td><td>Gains +/-</td><td>Price (Recorded at 7:45 p.m. ET)</td></tr><tr><td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td><td>-0.05%</td><td>$97,873.88</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>-1.93%</td><td>$3,349.58</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>-3.03%</td><td>$0.4231</td></tr></tbody></table></figure>



What Happened: The leading cryptocurrency fell below $96,000 during the afternoon, only to recover losses as the evening progressed.



On Friday, the asset nearly reached the record $100,000 level before stalling due to a strong pushback from the bears.



Ethereum, the second-largest cryptocurrency by market capitalization, failed to replicate its senior token&#8217;s comeback, ending the 24-hour period down by nearly 2%.



The sharp correction caused mayhem in the cryptocurrency derivatives market, with over $511 million getting liquidated in the last 24 hours. About $380 million in leveraged long bets were wiped out.



Bitcoin's Open Interest (OI) dropped marginally by 0.20%, while the number of short positions for the coin surged dramatically against longs in the last 24 hours.



Market sentiment remained in the "Extreme Greed" zone, as per the Cryptocurrency Fear and Greed Index, signaling a desire to buy more.



Top Gainers (24-Hours)



<figure class="wp-block-table"><table><tbody><tr><td>Cryptocurrency</td><td>Gains +/-</td><td>Price (Recorded at 7:45 p.m. ET)</td></tr><tr><td>The Sandbox (SAND)</td><td>+73.46%</td><td>$0.7739</td></tr><tr><td>Decentraland (MANA)</td><td>+31.24%</td><td>$0.7014</td></tr><tr><td>Tezos (XTZ)</td><td>+15.88%</td><td>$1.35</td></tr></tbody></table></figure>



The global cryptocurrency market capitalization stood at $3.33 trillion, following a marginal contraction of 0.69% in the last 24 hours.



Stock futures inched higher Sunday night. The Dow Jones Industrial Average Futures rose 226 points, or 0.51%, as of 7:45 p.m. EDT.&nbsp; Futures tied to the S&amp;P 500 gained 0.42%, while Nasdaq 100 Futures added 0.49%.



The shortened Thanksgiving trading week would see the release of October's personal consumption expenditure (PCE) data, the Federal Reserve's preferred inflation measure.



.See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>



Analyst Notes: In a note to Benzinga, Chris Kline, COO and Co-Founder of BitcoinIRA, noted a significant interest in Bitcoin.



"Bitcoin appears to be crossing the Rubicon, garnering enthusiasm among those discussing economic policy at the national level, both in the US and across the globe," Kline said.



He also highlighted the elevation of <a href="https://www.benzinga.com/24/11/42028576/rfk-jr-stands-firm-on-bitcoin-as-currency-of-freedom-says-howard-lutnik-as-treasury-secretary-will-be-best-for-apex-crypto">Bitcoin proponents</a> to cabinet-level positions in the incoming Donald Trump administration, potentially making "murky regulatory waters" clear.



Widely-followed cryptocurrency analyst Ali Martinez predicted Bitcoin to peak between June and September 2025 in the ongoing bull cycle.



"Long-term Bitcoin holders are showing signs of growing greed! Historically, this behavior suggests it could take 8–11 months for BTC to hit a market top,&#8221; Martinez stated.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Long-term <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> holders are showing signs of growing greed! Historically, this behavior suggests it could take 8-11 months for <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> to hit a market top. If the trend holds, we might see a potential peak between June and September 2025! <a href="https://t.co/UacfaQb5VW">pic.twitter.com/UacfaQb5VW</a>&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1860708957213659648?ref_src=twsrc%5Etfw">November 24, 2024</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



 Photo by Igor Faun on Shutterstock 



Read Next:    



<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42155055/crypto-analyst-bitcoin-poised-to-skyrocket-to-180k-and-eventually-top-1m">Crypto Analyst: Bitcoin Poised To Skyrocket To $180K and &#8216;Eventually&#8217; Top $1M</a></li>
</ul>

$DOGE

$ETH

Bitcoin Recovers From $95K Dip, Ethereum, Dogecoin Fall Ahead Of Thanksgiving Holiday:  BTC Is 'Crossing The Rubicon,' Says Expert

Following the <a href="https://www.benzinga.com/news/24/11/41768178/donald-trump-defeats-kamala-harris-to-win-2024-election">2024 U.S. Presidential election</a>, a significant shift is happening in the social media landscape.&nbsp;



Many users, including Taylor Swift's fanbase, the Swifties, <a href="https://www.benzinga.com/24/11/41872302/taylor-swift-fans-abandon-elon-musks-x-for-bluesky-how-trumps-election-victory-triggered-swifties-uprising">have begun leaving</a> Elon Musk's X, formerly Twitter, for Bluesky, a rising social media platform.



In just a few days, Bluesky's user base surged from 14 million to 20 million, growing by a million new users each day.



This sudden influx follows dissatisfaction with Musk's social media platform, especially after the changes he introduced following the acquisition of Twitter, and now the 2024 election outcome.



Why Bluesky?



Bluesky offers a <a href="https://www.benzinga.com/general/social-media/24/11/42039681/x-vs-threads-vs-bluesky-does-elon-musks-social-media-site-still-reign-supreme">refreshing alternative</a> to X and Meta Platforms, Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) Threads.



Unlike Threads, which has minimized political content, Bluesky allows for more personalized, open conversations. Its open-source model, based on the AT Protocol, aims to empower users with greater control over their content and moderation.



With features like user-curated starter packs and decentralized governance, Bluesky has become a top choice for former X users looking for a platform that prioritizes user experience over corporate control.



See Also: <a href="https://www.benzinga.com/tech/24/11/42056367/how-to-safeguard-your-data-before-apples-deadline-step-by-step-guide-for-backing-up-ios-8-and-earlier-devices">How To Safeguard Your Data Before Apple&#8217;s Deadline: Step-By-Step Guide For Backing Up iOS 8 And Earlier Devices</a>



Getting Started With Bluesky: The Starter Packs



If you&#8217;re new to Bluesky, building your feed from scratch can be overwhelming. Thankfully, Bluesky's starter packs make this process easier.



Starter packs are user-curated lists of accounts, organized by interests, topics, or locations. They allow new users to quickly find and follow accounts that align with their interests without the tedious process of searching individually.



How To Find And Use Starter Packs



With over 86,000 starter packs available, you can browse them through the directory and search by keywords. Click <a href="https://blueskydirectory.com/starter-packs/all?q=">here</a> to access the directory.



You can either follow individual accounts or use the &#8220;follow all&#8221; button for faster results.



Here are some examples of user-created starter packs:&nbsp;



<figure class="wp-block-image size-large"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/23030750/Screenshot-2024-11-23-at-1.37.44%E2%80%AFPM-1024x641.png" alt="" class="wp-image-662038"/><figcaption class="wp-element-caption">Source: Bluesky</figcaption></figure>



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.



<figure class="wp-block-image size-large"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/23031140/Screenshot-2024-11-23-at-1.41.30%E2%80%AFPM-1024x639.png" alt="" class="wp-image-662039"/><figcaption class="wp-element-caption">Source: Bluesky</figcaption></figure>



How To Create Your Own Starter Pack



In case, you want to create your unique starter pack, there are some easy steps you can follow.



Step I: Go to your profile on the mobile or desktop app.



Step II: Tap &#8220;Starter Packs&#8221; and select &#8220;Create.&#8221;



Step III: Name your pack, add a description, and choose users to include.



Step IV: Share your new pack with others through a post.



Image via Bluesky



Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.



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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.

Social Media

Tech

Bluesky Adds Millions Of Users As Elon Musk's X Faces Exodus Post Trump Victory: Here Are A Few Starter Packs To Help You Level Up On The Platform

In 2014, during an interview with Charlie Rose at the TED Conference, Google cofounder Larry Page made headlines with an unusual revelation. Page didn't point to traditional charitable foundations or heirs when asked about his thoughts on legacy and philanthropy. Instead, he floated the idea of leaving his wealth to <a href="https://www.benzinga.com/real-estate/24/05/38942636/elon-musk-reportedly-bought-a-secret-mansion-shortly-after-selling-all-his-possessions-and-publicly">Elon Musk</a>, the tech visionary behind Tesla and SpaceX.



Page's reasoning? Musk's <a href="https://www.benzinga.com/personal-finance/24/09/40778284/elon-musk-says-almost-anyone-can-afford-a-trip-to-mars-at-100-000-to-500-000-even-if-it-means-se">bold mission to colonize Mars</a> and "back up humanity." In the interview, Rose referenced past comments Page had made about this idea, asking for clarification.&nbsp;



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According to the transcript on the Charlie Rose site, Rose said: "You once said – actually, I think I've got this about right – that you might consider, rather than giving your money to a cause, simply giving it to Elon Musk because you had confidence he would change the future."



Larry Page replied: "He actually wanted to go to Mars – he wants to go to Mars to back up humanity." He elaborated, "It's a company and it's philanthropical. So I think, you know, we aim to do kind of similar things."



Page then shifted focus to Google's culture of innovation, adding, "We have a lot of employees at Google who've become pretty wealthy … A lot of people in there are pretty wealthy. You're working because you want to change the world and you want to make it better. So why isn't the company they work for worthy not just of your time, but your money as well?"



For Page, Musk's ambitious goals aligned with his belief that companies, when run effectively, could drive revolutionary change. He elaborated, saying, "Lots of companies don't succeed over time. They usually miss the future … I try to focus on that: What is the future really going to be? And how do we create it?"



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Page and Musk once shared a close friendship. Musk frequently <a href="https://www.benzinga.com/personal-finance/24/03/37923084/elon-musk-used-to-email-ex-google-ceo-larry-page-when-he-was-kind-of-homeless-and-ask-can-i-come">stayed at Page's house</a> during visits to Silicon Valley and their shared passion for pushing technological boundaries made them natural allies. Their camaraderie landed them on Fortune's 2016 list of "Business Leaders You Didn't Know Were BFFs."&nbsp;



Musk even <a href="https://www.benzinga.com/general/24/02/36953481/elon-musk-almost-sold-tesla-to-google-for-11-billion-but-he-called-the-deal-off-when-he-no-longer-ne">attempted to sell Tesla to Google</a> for $11 billion, according to Ashlee Vance&#8217;s biography, &#8220;Elon Musk: Tesla, SpaceX and the Quest for a Fantastic Future.&#8221; The two friends actually both agreed to the deal via handshake, but called it off once Tesla "no longer needed a savior."



However, their relationship reportedly soured around 2013. Musk's growing concerns about the dangers of artificial intelligence clashed with Page's more optimistic outlook. At Musk's birthday party that year, the two had a heated debate about AI. Page allegedly called Musk a "speciesist" for prioritizing human interests over other forms of intelligence.



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The tension grew after Musk cofounded OpenAI, a nonprofit <a href="https://www.benzinga.com/general/24/04/38073344/mark-cuban-predicts-worlds-first-trillionaire-wont-be-musk-or-bezos-itll-be-someone-who-masters-ai-a">ensuring AI safety</a>, which was seen as a direct challenge to Google, which had acquired DeepMind, a leading AI company. Musk even tried to dissuade DeepMind's CEO from selling to Google, further straining their relationship.



But despite their falling out, Musk has recently desired to mend fences. In a 2023 podcast with Lex Fridman, Musk said, "I would like to be friends again with Larry. I haven't seen him in ages. We were friends for a very long time." However, he acknowledged that Page might not feel the same, noting, "He doesn't want to talk to me anymore."



Larry Page's 2014 remarks about leaving his fortune to Elon Musk reflect his belief that revolutionary change outweighs incremental progress. While the future of their friendship remains uncertain, both Page and Musk continue to be key players in shaping the future of technology – and maybe even humanity.



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Larry Page, Google Co-Founder, Said He'd Leave His Fortune To Elon Musk Over Charity Because Of His Plans 'To Go To Mars To Back Up Humanity'

New data from Realtor.com shows a partisan divide in housing market sentiment after<a href="https://www.benzinga.com/economics/macro-economic-events/24/11/42027218/could-trumps-housing-plans-reshape-the-real-estate-market"> Donald Trump&#8217;s presidential election victory</a>. Republicans have increased optimism, while Democrats are hesitant about home-buying plans.



Morning Consult&#8217;s survey in early November found that roughly 20% of Republicans report being more likely to purchase a home due to the election outcome. In contrast, nearly a quarter of Democrats indicate they&#8217;re now less likely to enter the housing market in the coming year.



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Independent voters remained largely unmoved by the election results, with 74% reporting no change in their home-buying intentions. The contrasting sentiments align with Trump&#8217;s proposed housing policies. Real estate experts anticipate market changes under his leadership, particularly around interest rates and development regulations. His platform, <a href="https://www.benzinga.com/real-estate/24/11/41968915/will-trumps-second-term-unlock-housing-lower-rates-more-development-on-the-table-experts-say">announced before the election</a>, called for removing construction barriers, including regulations that currently add over $90,000 to new home prices and for opening federal lands for housing development.



&#8220;Many in the real estate business are elated with a Trump victory and if the administration can live up to its campaign promises, rightfully so,&#8221; said Alex Beene, financial literacy instructor at the University of Tennessee at Martin. &#8220;For months, he has been advocating for lower interest rates, which have become one of the most significant barriers to homeownership in the post-pandemic years.&#8221;



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However, Realtor.com Chief Economist Danielle Hale said the proposals present opportunities and challenges. While supply-side policies might boost housing inventory, proposed immigration restrictions could affect construction labor. Census Bureau data shows that up to one-third of residential construction relies on foreign-born workers. The survey polled 2,201 adults nationwide and highlighted demographic variations in housing market confidence.



Male respondents showed notably higher optimism, with 18% indicating an increased likelihood to buy compared to 10% of women. Generation Z emerged as the most optimistic age group, with 22% reporting enhanced home-buying prospects, followed by millennials at 19%, Generation X at 12% and baby boomers at 6%.



Economic outlook drives the responses. Republicans who expressed increased interest in home buying cited anticipated improvements in economic conditions and confidence in the new administration.&nbsp;



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Democrats who expressed decreased home-buying interest pointed to economic concerns. &#8220;There is a very real possibility that the economy will tank and having my own home will be impossible,&#8221; one participant stated. Others specifically mentioned worries about inflation and tariff policies.



The housing sentiment split mirrors broader economic confidence trends. Morning Consult data cited by Realtor shows Republican consumer sentiment surged nearly 30% postelection, while Democratic sentiment declined 13% during the same period.



Current homeowners across party lines reported minimal impact on their selling intentions, though Democrats showed a slightly higher tendency to delay selling plans.



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Real Estate

24% Of Democrats Say Trump's Election Made Them Less Likely To Buy A Home

The past week has been a rollercoaster ride in the financial world. From the surge in small-cap stocks to the potential impact of President-elect Donald Trump&#8217;s DOGE initiative, there&#8217;s a lot to unpack. Let&#8217;s dive into the top stories of the week.



Small-Cap Stocks Soar



U.S. small-cap stocks have been the star performers this November, following a well-established seasonal trend. The Russell 2000 index, a benchmark for small-cap equities, has seen an impressive 8% rise this month, setting the stage for a strong December. This aligns with the historical trend of small caps excelling in the final two months of the year, often leading to the so-called &#8220;Santa Rally&#8221;.



<a href="https://www.benzinga.com/24/11/42124676/november-small-cap-surge-could-carry-into-decembers-santa-rally-historical-trends-suggest">Read the full article here.</a>



Trump&#8217;s DOGE Initiative



President-elect Donald Trump&#8217;s appointed DOGE (Department of Government Efficiency) could potentially save $50–100 billion annually, according to Congressional Budget Office analyses. However, Mario Georgiou, CFA, and executive director, head of investments at InCred Global Wealth U.K., suggests that the scale of potential savings is expected to be modest compared to total federal outlays of approximately $6.7 trillion in 2024.



<a href="https://www.benzinga.com/24/11/42131911/donald-trump-appointed-doge-to-have-marginal-impact-saving-50-100-billion-says-analyst-as-elon-musk-aims-to-target-500-billion-plus-in-federal-expenditures">Read the full article here.</a>



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Alarm Bells for US Auto Loans



ARK Invest CEO Cathie Wood has raised concerns about the state of auto loans in America. She notes that 90-day delinquency rates have now surpassed levels seen during the 2009 financial crisis. This comes despite continued investor confidence in auto-backed securities.



<a href="https://www.benzinga.com/markets/equities/24/11/42080723/cathie-wood-sounds-alarm-on-us-auto-loans-as-90-day-delinquency-rates-surpass-2009-levels">Read the full article here.</a>



Trump Picks Treasury Secretary



President-elect Donald Trump has chosen hedge fund executive Scott Bessent as the U.S. Treasury Secretary. Bessent, founder of Key Square Group, was a leading candidate, competing with former Fed Governor Kevin Warsh and private equity executive Marc Rowan.



<a href="https://www.benzinga.com/government/regulations/24/11/42150805/trump-picks-hedge-fund-exec-scott-bessent-as-treasury-secretary-what-president-elects-choice-means-for-americas-economic-future">Read the full article here.</a>



US Business Activity Hits 31-Month High



The U.S. private sector activity posted its fastest pace of expansion in more than two and a half years in November. This was driven by exceptional growth in the services sector, which continues to far exceed even the most optimistic forecasts by economists.



<a href="https://www.benzinga.com/economics/macro-economic-events/24/11/42141413/us-business-activity-soars-to-31-month-highs-in-november-small-caps-rally-dow-tops-44000">Read the full article here.</a>



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Photo courtesy: Shutterstock



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/ananya-gairola" target="_blank" rel="noreferrer noopener">Ananya Gairola</a>

Small-Cap Surge, Trump's DOGE Initiative, Auto Loan Alarms, And Treasury Secretary Pick: This Week In Economics

These mid-cap stocks were the best performers in the last week. Are they in your portfolio?



<ol>
<li>Lemonade, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMND#NYSE">LMND</a>) shares jumped 47.99% after the company&#8217;s Investor Day event. Several analysts raised <a href="https://www.benzinga.com/quote/lmnd/analyst-ratings" target="_blank" rel="noreferrer noopener">the price forecast on the stock</a>.</li>



<li>Archer Aviation Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACHR#NYSE">ACHR</a>) shares escalated 46.96%.&nbsp;Needham analyst&nbsp;initiated coverage&nbsp;on Archer Aviation with a Buy rating and <a href="https://www.benzinga.com/quote/achr/analyst-ratings" target="_blank" rel="noreferrer noopener">a price target of&nbsp;$11</a>.</li>



<li>C3.ai, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AI#NYSE">AI</a>) stock zoomed 43.98% after the company announced a strategic alliance with Microsoft Corp&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>)&nbsp;and expanded <a href="https://www.benzinga.com//node/42095812" target="_blank" rel="noreferrer noopener">its partnership&nbsp;with&nbsp;</a><a href="https://www.benzinga.com//node/42095812" target="_blank" rel="noreferrer noopener">Capgemini</a>.</li>



<li>Oklo Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OKLO#NYSE">OKLO</a>) stock rocketed 40%. The stock may have gained in response to its acquisition target Atomic Alchemy which signed an MOU with Zeno Power to provide fuel for commercial radioisotope power systems.</li>



<li>Applied Digital Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APLD#NASDAQ">APLD</a>) stock increased 36.24%.</li>



<li>Unity Software Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/U#NYSE">U</a>) shares rose 35.70%.</li>



<li>Nebius Group N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NBIS#NASDAQ">NBIS</a>) shares were up 33.47% &nbsp;after the company announced an expansion to its AI infrastructure in the U.S. with the Kansas City GPU <a href="https://www.benzinga.com//node/42059918" target="_blank" rel="noreferrer noopener">cluster and three new offices</a>.</li>



<li>NuScale Power Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMR#NYSE">SMR</a>) stock surged 31.29%.</li>



<li>Hims &amp; Hers Health, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HIMS#NYSE">HIMS</a>) shares jumped 31.11%. The company launched meal replacement bars and shakes to enhance <a href="https://www.benzinga.com//node/42118299" target="_blank" rel="noreferrer noopener">personalized weight loss plans</a>.</li>
</ol>



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<li><a href="https://www.benzinga.com/news/large-cap/24/11/42154355/super-micro-computer-snowflake-and-microstrategy-are-among-top-10-large-cap-gainers-last-week-nov-18-nov-22-are-the-others-in-your-portfolio">Super Micro Computer, Snowflake And MicroStrategy Are Among Top 10 Large-Cap Gainers Last Week (Nov 18-Nov 22): Are The Others In Your Portfolio?</a></li>
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Image via Walmart

Mid Cap

ACHR

APLD

HIMS

LMND

MSFT

NBIS

OKLO

Applied Digital And Hims & Hers Health Are Among Top 9 Mid-Cap Gainers Last Week (Nov 18-Nov 22): Are The Others In Your Portfolio?

The U.S. Department of Justice (DOJ) has demanded that&nbsp;Alphabet Inc.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) Google&nbsp;divest its Chrome browser to dismantle its monopoly on online search. This move is part of broader efforts to restore <a target="_blank" href="https://www.benzinga.com/tech/24/11/42105079/googles-unlawful-behavior-stifles-market-entry-for-rivals-doj-says-alphabet-must-sell-chrome-to-end-search-monopoly" rel="noreferrer noopener">competition in the search market</a>.



Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>)&nbsp;and&nbsp;Elon Musk's&nbsp;SpaceX may encounter obstacles in their attempts&nbsp;to block the National Labor <a target="_blank" href="https://www.benzinga.com/24/11/42054405/amazon-and-spacexs-efforts-to-block-nlrb-cases-in-jeopardy-as-appeals-court-raises-key-legal-concerns" rel="noreferrer noopener">Relations&nbsp;Board or&nbsp;</a><a target="_blank" href="https://www.benzinga.com/24/11/42054405/amazon-and-spacexs-efforts-to-block-nlrb-cases-in-jeopardy-as-appeals-court-raises-key-legal-concerns" rel="noreferrer noopener">NLRB&nbsp;</a><a target="_blank" href="https://www.benzinga.com/24/11/42054405/amazon-and-spacexs-efforts-to-block-nlrb-cases-in-jeopardy-as-appeals-court-raises-key-legal-concerns" rel="noreferrer noopener">cases</a>.



Prominent venture capitalist&nbsp;David Sacks&nbsp;has predicted a high&nbsp;likelihood of legal action&nbsp;or a breakup of&nbsp;Alphabet Inc.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) Google&nbsp;in the next U.S. <a target="_blank" href="https://www.benzinga.com/24/11/42058073/google-should-be-broken-up-vc-david-sacks-foresees-high-odds-of-antitrust-lawsuit-or-breakup-under-donald-trumps-administration" rel="noreferrer noopener">administration under&nbsp;</a><a target="_blank" href="https://www.benzinga.com/24/11/42058073/google-should-be-broken-up-vc-david-sacks-foresees-high-odds-of-antitrust-lawsuit-or-breakup-under-donald-trumps-administration" rel="noreferrer noopener">Donald Trump</a>.



A Chinese state-backed company,&nbsp;Spacesail, is preparing&nbsp;to launch a satellite service&nbsp;in Brazil, posing a challenge to&nbsp;Elon Musk‘s&nbsp;SpaceX<a target="_blank" href="https://www.benzinga.com/tech/24/11/42111283/elon-musks-starlink-faces-new-competition-as-chinese-satellite-firm-spacesail-enters-brazilian-market" rel="noreferrer noopener">&nbsp;operated satellite service, Starlink</a>.



Gaming



Sony Group Corp.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SONY#NYSE">SONY</a>) is reportedly in discussions to acquire Kadokawa Corporation, the Japanese media powerhouse known for its extensive portfolio of anime, manga, and video games, including <a target="_blank" href="https://www.benzinga.com/general/gaming/24/11/42068231/sony-in-talks-to-acquire-elden-ring-publisher-kadokawa-report" rel="noreferrer noopener">the&nbsp;global hit Elden Ring</a>.



Sony has released a significant update for its PlayStation Portal handheld device, introducing cloud streaming for&nbsp;<a target="_blank" href="https://www.benzinga.com/general/gaming/24/11/42098642/play-ps5-games-without-a-console-playstation-portal-adds-cloud-streaming" rel="noreferrer noopener">PlayStation Plus Premium members</a>.



Read: <a target="_blank" href="https://www.benzinga.com/general/gaming/24/11/42098643/kadokawa-ceo-confirms-sonys-buyout-interest-no-decision-has-been-made" rel="noreferrer noopener">Kadokawa CEO Confirms Sony&#8217;s Buyout Interest: &#8216;No Decision Has Been Made&#8217;</a>



Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) has unveiled its upcoming additions to Xbox Game Pass for the second half of November, featuring high-profile <a target="_blank" href="https://www.benzinga.com/top-stories/24/11/42072274/xbox-game-pass-brings-big-titles-in-late-november-including-stalker-microsoft-flight-simulator-2024" rel="noreferrer noopener">launches and exciting&nbsp;indie gems</a>.



Microsoft launched a long-awaited feature for Xbox Game Pass Ultimate members, allowing them to stream select games they already own <a target="_blank" href="https://www.benzinga.com/general/gaming/24/11/42118521/xbox-cloud-gaming-now-lets-you-stream-owned-games-heres-how-it-works" rel="noreferrer noopener">via Xbox Cloud&nbsp;Gaming</a>.



Roblox Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RBLX#NYSE">RBLX</a>) announced new tools today designed to enhance safety for its young user base, which includes a significant number of children. These updates allow parents to remotely manage their child&#8217;s account, view their <a target="_blank" href="https://www.benzinga.com/general/gaming/24/11/42043036/roblox-enhances-parental-controls-theres-always-more-to-be-done" rel="noreferrer noopener">friends list, and set&nbsp;limits on playtime</a>.



Technology



China's leading tech firms,&nbsp;Alibaba Group Holding Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>) ByteDance, and&nbsp;Meituan are reportedly expanding <a target="_blank" href="https://www.benzinga.com/24/11/42053396/why-chinese-tech-giants-alibaba-bytedance-and-meituan-are-expanding-their-ai-footprints-in-silicon-valley-amid-us-efforts-to-block-progress" rel="noreferrer noopener">their AI teams in Silicon Valley</a>.



Google announced its AI assistant&nbsp;Gemini&nbsp;is now available for download on&nbsp;Apple Inc.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>)&nbsp;<a target="_blank" href="https://www.benzinga.com/news/large-cap/24/11/42042074/googles-gemini-app-brings-free-flowing-ai-to-apple-iphone" rel="noreferrer noopener">iPhone&nbsp;as an app</a>.&nbsp;



Alphabet&#8216;s lucrative agreement to pay&nbsp;Apple&nbsp;over&nbsp;$20 billion a year&nbsp;to make its search engine the default on&nbsp;<a target="_blank" href="https://www.benzinga.com/24/11/42083150/googles-20b-search-deal-with-apple-faces-collapse-after-antitrust-ruling-what-it-could-means-for-both-tech-giants" rel="noreferrer noopener">iPhones</a><a target="_blank" href="https://www.benzinga.com/24/11/42083150/googles-20b-search-deal-with-apple-faces-collapse-after-antitrust-ruling-what-it-could-means-for-both-tech-giants" rel="noreferrer noopener">&nbsp;is now under threat</a>.



Google Gemini&nbsp;AI chatbot came under scrutiny after reportedly telling a user, &#8220;You are a stain on the <a target="_blank" href="https://www.benzinga.com/tech/24/11/42055794/googles-gemini-chatbot-draws-scrutiny-after-hostile-interaction-with-user-heres-what-the-search-giant-has-to-say" rel="noreferrer noopener">universe. Please d&#x2A;e."</a>



NVIDIA Corporation&#8216;s(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) Blackwell AI chips are experiencing overheating problems when connected&nbsp;to server racks designed to&nbsp;hold up to 72 chips,&nbsp;reported&nbsp;The Information, citing Nvidia employees working on the problem and customers <a target="_blank" href="https://www.benzinga.com/24/11/42028342/blackwell-backfires-nvidias-ai-chips-struggle-with-server-overheating-impacting-meta-microsoft-and-musks-xai-data-centers" rel="noreferrer noopener">and&nbsp;suppliers familiar with the situation</a>.



The development of a new artificial intelligence-based version of&nbsp;Amazon.com‘s&nbsp;voice assistant Alexa is reportedly facing significant challenges<a target="_blank" href="https://www.benzinga.com/markets/equities/24/11/42055771/amazons-ai-powered-alexa-upgrade-faces-latency-compatibility-concerns-report" rel="noreferrer noopener">, according to internal memos</a>.



Read:<a target="_blank" href="https://www.benzinga.com/24/11/42079954/microsoft-ceo-satya-nadella-defends-bings-rise-against-googles-search-dominance-says-openais-partnership-with-apple-is-incremental-for-even-us" rel="noreferrer noopener">Satya Nadella Defends Bing&#8217;s Rise Against Google&#8217;s Search Dominance — Says OpenAI&#8217;s Partnership With Apple Is &#8216;Incremental&#8217; For Microsoft</a>



Smartphone



Google and&nbsp;Apple have long been discussing integrating Gemini into the iOS ecosystem. However, the timeline for this integration<a target="_blank" href="https://www.benzinga.com/media/24/11/42030331/heres-when-google-gemini-could-be-integrated-with-apple-intelligence" rel="noreferrer noopener"> may not happen until next year</a>.



Apple&nbsp;is preparing to urge a federal judge&nbsp;to dismiss the U.S. Department&nbsp;of Justice's case accusing the company of unlawfully <a target="_blank" href="https://www.benzinga.com/tech/24/11/42086154/apple-to-argue-for-dismissal-of-doj-antitrust-case-over-alleged-us-smartphone-market-domination" rel="noreferrer noopener">monopolizing the smartphone market</a>.



Huawei&nbsp;Technologies Co., Ltd. is set to initiate mass production of its latest AI chip, the Ascend 910C, in early 2025, despite facing significant <a target="_blank" href="https://www.benzinga.com/news/24/11/42105518/huawei-to-reportedly-take-on-nvidia-with-mass-production-of-new-ai-chips-by-2025-amid-us-restrictions" rel="noreferrer noopener">hurdles due to U.S. trade restrictions</a>.



Artificial Intelligence (AI)



Elon Musk&nbsp;has predicted that AI will surpass doctors and lawyers after a study revealed&nbsp;OpenAI's ChatGPT-4&nbsp;outperformed medical <a target="_blank" href="https://www.benzinga.com/tech/24/11/42029736/elon-musk-says-ai-will-surpass-doctors-lawyers-after-chatgpt-tops-medical-diagnoses-humans-becoming-biological-backups" rel="noreferrer noopener">professionals in diagnosing illnesses</a>.



OpenAI&nbsp;CEO&nbsp;Sam Altman&nbsp;has been appointed as a co-chair of the transition team&nbsp;for San Francisco's <a target="_blank" href="https://www.benzinga.com/media/24/11/42054127/sam-altman-co-chairs-san-francisco-mayors-transition-team-as-daniel-lurie-prepares-to-tackles-key-city-challenges" rel="noreferrer noopener">newly elected&nbsp;mayor,&nbsp;</a><a target="_blank" href="https://www.benzinga.com/media/24/11/42054127/sam-altman-co-chairs-san-francisco-mayors-transition-team-as-daniel-lurie-prepares-to-tackles-key-city-challenges" rel="noreferrer noopener">Daniel Lurie</a>.



Perplexity AI&nbsp;CEO&nbsp;Aravind Srinivas&nbsp;has jumped into the&nbsp;Alphabet Google&nbsp;antitrust conversation by asking his followers on&nbsp;X&nbsp;if his AI startup should<a target="_blank" href="https://www.benzinga.com/markets/equities/24/11/42084064/perplexity-ceo-asks-if-ai-startup-should-acquire-google-chrome-following-dojs-antitrust-push-against-search-giant" rel="noreferrer noopener"> acquire the Google Chrome browser</a>.

AAPL

AMZN

BABA

GOOG

RBLX

SONY

Consumer Tech News (Nov 18-Nov 22): US DOJ Demands Google To Divest Chrome Browser, Gemini AI Available On Apple & More

These large-cap stocks were the best performers in the last week. Are they in your portfolio?



<ol start="1">
<li>Super Micro Computer, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>) shares rocketed 78.42%. The company announced it submitted a<a href="https://www.benzinga.com/node/42111748" target="_blank" rel="noreferrer noopener"> compliance plan to Nasdaq</a>.</li>



<li>Snowflake Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNOW#NYSE">SNOW</a>) stock jumped 32.93% after the company reported better-than-expected financial results for the third quarter and raised guidance. Several analysts raised price <a href="https://www.benzinga.com/node/42117057" target="_blank" rel="noreferrer noopener">targets following the print</a>.</li>



<li>Williams-Sonoma, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WSM#NYSE">WSM</a>) stock escalated 31.63%  after the company reported better-than-expected third-quarter 2024 results, announced a new $1 billion buyback <a href="https://www.benzinga.com/node/42091624" target="_blank" rel="noreferrer noopener">program, and raised its outlook</a>. Analysts boosted <a href="https://www.benzinga.com/quote/wsm/analyst-ratings" target="_blank" rel="noreferrer noopener">the price target on the stock</a>.</li>



<li>Symbotic Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SYM#NASDAQ">SYM</a>) stock zoomed 31.52% after the company reported <a href="https://www.benzinga.com/node/42072077" target="_blank" rel="noreferrer noopener">better-than-expected financial results</a>.</li>



<li>Texas Pacific Land Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TPL#NYSE">TPL</a>) stock rose 27.21%.</li>



<li>Amer Sports, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AS#NYSE">AS</a>) stock rose 25.71% after <a href="https://www.benzinga.com/node/42065028" target="_blank" rel="noreferrer noopener">reporting third-quarter results</a>. Multiple analysts raised <a href="https://www.benzinga.com/quote/as/analyst-ratings" target="_blank" rel="noreferrer noopener">their respective price targets</a>.</li>



<li>Elastic N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ESTC#NYSE">ESTC</a>) shares upped 25.15% after the company reported second-quarter financial results and issued FY25<a href="https://www.benzinga.com/node/42123410" target="_blank" rel="noreferrer noopener"> guidance above estimates</a>. Several analysts boosted the price <a href="https://www.benzinga.com/quote/estc/analyst-ratings" target="_blank" rel="noreferrer noopener">target on the stock</a>.</li>



<li>MicroStrategy Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) shares escalated 23.85%  after the company announced it completed its previously announced offering of its 0% <a href="https://www.benzinga.com/node/42138209" target="_blank" rel="noreferrer noopener">convertible senior notes due 2029</a>. </li>



<li>YPF Sociedad Anonima (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YPF#NYSE">YPF</a>) shares increased 23.59%, probably on continued strength after the nation received a credit upgrade from Fitch over the weekend.</li>



<li>Datadog, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DDOG#NASDAQ">DDOG</a>) stock gained 23.59% last week in sympathy with Snowflake, which reported better-than-expected <a href="https://www.benzinga.com/node/42117057">third-quarter results</a>.</li>
</ol>



Photo by JOCA_PH on Shutterstock

Large Cap

DDOG

Super Micro Computer, Snowflake And MicroStrategy Are Among Top 10 Large-Cap Gainers Last Week (Nov 18-Nov 22): Are The Others In Your Portfolio?

The past week has been a whirlwind of news, with artificial intelligence (AI) taking center stage. From Nvidia&#8217;s impressive Q3 earnings to Elon Musk&#8217;s bold predictions about AI, the tech world has been abuzz with exciting developments. Hollywood is also gearing up for a new era of AI, while Jim Cramer reinforces his bullish outlook on Nvidia. Meanwhile, Chinese tech giants are expanding their AI footprints in Silicon Valley. Let&#8217;s dive into the details.



Nvidia&#8217;s Q3 Earnings Beat Expectations



Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) continued its streak of exceeding expectations with its Q3 earnings. The tech giant reported a 94% YoY increase in revenue, reaching $35.1 billion and surpassing the Street consensus estimate of $33.12 billion. Despite supply constraints, the company&#8217;s CEO, Jensen Huang, remains optimistic about the future of AI. <a href="https://www.benzinga.com/news/earnings/24/11/42099904/nvidia-beats-q3-revenue-eps-estimates-supply-constraints-ding-stock-huang-says-age-of-ai-is-in-full-steam">Read the full article here.</a>



Elon Musk Predicts AI Will Surpass Doctors, Lawyers



Elon Musk has made a bold prediction about the future of AI. Following a study that revealed OpenAI's ChatGPT-4 outperformed medical professionals in diagnosing illnesses, Musk believes AI will soon surpass doctors and lawyers. The study reported a 90% accuracy rate for AI, compared to 76% for doctors using ChatGPT and 74% for doctors relying on traditional resources.&nbsp;<a href="https://www.benzinga.com/tech/24/11/42029736/elon-musk-says-ai-will-surpass-doctors-lawyers-after-chatgpt-tops-medical-diagnoses-humans-becoming-biological-backups">Read the full article here.</a>



See Also: <a href="https://www.benzinga.com/24/11/42132292/mark-zuckerbergs-meta-takes-on-64b-pig-butchering-scams-targeting-people-through-dating-apps-social-media-crypto-investing-and-other-apps?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mark Zuckerberg&#8217;s Meta Cracks Down On $64B &#8216;Pig Butchering&#8217; Scams Involving Dating Apps, Social Media And Crypto Investing</a>



Ben Affleck and Matt Damon See AI as Hollywood&#8217;s Next Big Thing



Ben Affleck believes AI will be the next big disruptor in Hollywood. Speaking at CNBC&#8217;s Delivering Alpha Summit, Affleck downplayed fears of AI replacing human creativity, instead suggesting that the technology will reshape the costlier, less creative aspects of filmmaking.&nbsp;<a href="https://www.benzinga.com/24/11/42082240/dvds-streaming-and-now-ai-ben-affleck-and-matt-damon-unpack-hollywoods-next-investment-boom">Read the full article here.</a>



Jim Cramer Doubles Down on Nvidia



Following Nvidia&#8217;s stellar Q3 earnings report, CNBC's Jim Cramer and Wall Street analysts have reinforced their bullish outlook on the company. Cramer cited Nvidia&#8217;s high return on investment as a key reason why major tech companies &#8220;have no choice but to buy Nvidia&#8217;s chips.&#8221;&nbsp;<a href="https://www.benzinga.com/news/global/24/11/42129914/jim-cramer-doubles-down-on-nvidia-demand-is-accelerating-as-ai-customers-have-no-choice-but-to-buy-its-chips">Read the full article here.</a>



Chinese Tech Giants Expand AI Footprints in Silicon Valley



Chinese tech firms, including Alibaba (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>), ByteDance, and Meituan, are reportedly expanding their AI teams in Silicon Valley. The move is part of a broader push to attract top U.S. talent and gain an edge in the lucrative AI sector. <a href="https://www.benzinga.com/24/11/42053396/why-chinese-tech-giants-alibaba-bytedance-and-meituan-are-expanding-their-ai-footprints-in-silicon-valley-amid-us-efforts-to-block-progress">Read the full article here.</a>



Read Next:



<ul>
<li><a href="https://www.benzinga.com/general/gaming/24/11/42144628/gta-6-trailer-2-fans-frustrated-as-rockstar-possibly-breaks-moon-theory?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">GTA 6 Trailer 2 Fans Frustrated As Rockstar Possibly Breaks Moon Theory</a></li>
</ul>



Photo courtesy: Shutterstock



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/Rounak-Jain" target="_blank" rel="noreferrer noopener">Rounak Jain</a>

Weekend Round-Up: AI Dominates Headlines With Nvidia, Elon Musk, And Hollywood's Big Names

<h2 class="wp-block-heading">UPS Pays $45 Million Fine For Improperly Valuing Its Worst-Performing Business&nbsp;</h2>



The Securities and Exchange Commission (SEC) announced on Friday that it <a href="https://www.sec.gov/newsroom/press-releases/2024-184">settled charges</a> against United Parcel Service Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UPS#NYSE">UPS</a>) for materially misrepresenting its earnings because it failed to follow generally accepted accounting principles (GAAP) when valuing one of its worst performing businesses.&nbsp;&nbsp;



The SEC found that UPS did not record a goodwill impairment for its UPS Freight business division in 2019. If UPS had properly valued Freight, its earnings and other reported items would have been materially lower, the SEC said.&nbsp;



Read Next: <a href="https://www.benzinga.com/trading-ideas/movers/24/11/41949068/bitcoin-could-reach-1-million-by-2037-economist-says-buy-of-a-lifetime-opportunity">Bitcoin Could Reach $1 Million By 2037, Economist Says: &#8216;Buy Of A Lifetime&#8217; Opportunity</a>



"Goodwill balances provide investors with valuable insight into whether companies are successfully operating the businesses they own," said Melissa Hodgman, Associate Director at SEC.&nbsp;



"Therefore, it is essential for companies to prepare reliable fair value estimates and impair goodwill when required. UPS fell short of these obligations, repeatedly ignoring its own well-founded sale price estimates for Freight in favor of unreliable third-party valuations," Hodgman added.&nbsp;



In addition to the $45 million civil penalty, UPS agreed to cease and desist from further violations of these provisions, adopt training requirements for certain officers, directors, and employees, and retain an independent compliance consultant to review and make recommendations about the company's fair value estimates and disclosure obligations.



<h2 class="wp-block-heading">BIT Mining To Pay $4 Million Fine For Bribery&nbsp;</h2>



The SEC announced on Monday that BIT Mining Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BTCM#NYSE">BTCM</a>), formerly known as 500.com Limited,<a href="https://www.sec.gov/newsroom/press-releases/2024-180"> agreed to pay</a> a $4 million civil penalty to resolve charges that it violated the Foreign Corrupt Practices Act (FCPA) from 2017 to 2019 by conducting a widespread bribery scheme to influence foreign officials, including members of Japan's parliament.&nbsp;



The SEC's order finds that the bribery scheme involved illicit payments of approximately $2.5 million in the form of cash bribes, entertainment and trips. The order further finds that the bribes were authorized by a 500.com senior executive in an attempt to establish an integrated resort casino in Japan.&nbsp;



"Investors must have confidence that the operations and performance of public companies reflect merit and legitimate considerations. Bribery and corruption turn that dynamic on its head, distorting the orderly operation of the markets and undermining investor confidence," said Charles E. Cain, Chief of the SEC Enforcement Division's FCPA Unit.&nbsp;



Additionally, the US Department of Justice announced on the same day that it entered into a deferred prosecution agreement in which BIT Mining agreed to pay a $10 million criminal fine, of which $4 million will be satisfied by the company's payment of a civil penalty to the SEC.&nbsp;



More Crime Stories: Here are other crime stories covered by Benzinga this week. 



<ul>
<li><a href="https://www.benzinga.com/news/global/24/11/42100433/archegos-capitals-bill-hwang-receives-18-year-sentence-for-fraud-market-manipulation">Archegos Capital's Bill Hwang Receives 18 Year Sentence For Fraud, Market Manipulation</a></li>



<li><a href="https://www.benzinga.com/news/global/24/11/42101365/indian-billionaire-one-of-the-worlds-richest-men-indicted-for-alleged-250-million-bribery-scheme">Indian Billionaire, One Of The World&#8217;s Richest Men, Indicted For Alleged $250 Million Bribery Scheme</a></li>



<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42055570/bitfinex-bitcoin-laundering-case-lands-crocodile-of-wall-street-in-jail">Bitfinex Bitcoin Laundering Case Lands &#8216;Crocodile Of Wall Street&#8217; In Jail</a></li>
</ul>



Image: Gerd Altmann from Pixabay

Legal

BTCM

Financial Crime Weekly: UPS Pays $45M Fine, BIT Mining Pays $4M Fine For Bribery

The past week has been a whirlwind of tech news, with Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) making headlines on multiple fronts. From analyst predictions about the company&#8217;s future to its upcoming ventures, there&#8217;s a lot to unpack. Meanwhile, Huawei Technologies Co. is gearing up to challenge Apple in China with its advanced chip, and Alphabet Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) lucrative deal with Apple is under threat due to an antitrust ruling. Let&#8217;s dive into the details.



Apple&#8217;s Future: Smaller, Yet Profitable Ventures



Mark Gurman, a renowned analyst, advised investors this week not to anticipate another product like Apple&#8217;s iPhone. Instead, he suggested that the company&#8217;s future lies in a series of smaller, profitable ventures. The iPhone remains Apple&#8217;s core product, driving over half of the company&#8217;s revenue and forming the foundation of its ecosystem.



<a href="https://www.benzinga.com/tech/24/11/41894509/apples-next-big-bet-think-smaller-says-analyst-there-will-never-be-another-iphone">Read the full article here.</a>



Apple&#8217;s Smart Camera: A New Venture in 2026



Apple reportedly plans to enter the smart home IP camera market in 2026, aiming for tens of millions of annual shipments, according to Ming-Chi Kuo, an analyst at TF Securities. The device will integrate with Apple products, targeting a share of the 30–40 million units shipped globally each year.



<a href="https://www.benzinga.com/tech/24/11/41891237/apples-smart-camera-coming-in-2026-cupertino-eyeing-tens-of-millions-in-annual-shipments-says-top-supply-chain-analyst">Read the full article here.</a>



See Also: <a href="https://www.benzinga.com/24/11/42132292/mark-zuckerbergs-meta-takes-on-64b-pig-butchering-scams-targeting-people-through-dating-apps-social-media-crypto-investing-and-other-apps?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mark Zuckerberg&#8217;s Meta Cracks Down On $64B &#8216;Pig Butchering&#8217; Scams Involving Dating Apps, Social Media And Crypto Investing</a>



Huawei&#8217;s Advanced Chip: A Challenge to Apple in China



Huawei Technologies Co. is set to release its most advanced domestically made chip in the Mate 70 series, amid ongoing U.S. sanctions. The launch comes as Huawei continues to increase its market share in China, where it has seen a rise in consumer demand.



<a href="https://www.benzinga.com/news/global/24/11/42132104/huawei-to-launch-mate-70-smartphone-with-advanced-homegrown-chip-challenging-apple-in-china-amid-us-sanctions-report">Read the full article here.</a>



Apple&#8217;s AI-Powered Siri: A Competitor to OpenAI and Google Gemini



Apple is reportedly developing a conversational AI-powered Siri to compete with OpenAI&#8217;s ChatGPT and Google's Gemini Live voice assistant. The new version of Siri will allow back-and-forth interactions with quicker and more advanced responses.



<a href="https://www.benzinga.com/media/24/11/42129847/apple-prepares-to-take-on-openais-chatgpt-google-gemini-live-with-llm-siri-in-2025-report">Read the full article here.</a>



Google&#8217;s Antitrust Ruling: A Threat to Apple&#8217;s Revenue



Google&#8217;s agreement to pay Apple over $20 billion a year to make its search engine the default on iPhones is now under threat. An antitrust lawsuit against Google's parent company revealed that these payments accounted for 17.5% of Apple&#8217;s operating income in 2020.



<a href="https://www.benzinga.com/24/11/42083150/googles-20b-search-deal-with-apple-faces-collapse-after-antitrust-ruling-what-it-could-means-for-both-tech-giants">Read the full article here.</a>



Read Next:



<ul>
<li><a href="https://www.benzinga.com/government/regulations/24/11/42119020/alphabet-bleeds-over-120-billion-in-market-value-eyes-worst-day-in-10-months-after-doj-demands-google-chrome-sale?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Alphabet Bleeds Over $120 Billion In Market Value, Eyes Worst Day In 10 Months After DOJ Demands Google Chrome Sale</a></li>
</ul>



Photo courtesy: Unsplash



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/Rounak-Jain" target="_blank" rel="noreferrer noopener">Rounak Jain</a>

GOOGL

Apple's Future Ventures, Huawei's New Chip, And Google's Antitrust Woes: This Week In Appleverse

Benzinga examined the prospects for<a href="http://www.benzinga.com/trading-ideas"> many investors&#8217; favorite stocks</a> over the last week — here&#8217;s a look at some of our top stories.



The Dow Jones Industrial Average gained around 2% this week, with the S&amp;P 500 and Nasdaq each rising approximately 1.7%. Despite NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) surpassing analysts&#8217; expectations for Q3 earnings and revenue, its stock traded flat, leaving the market&#8217;s rebound to unfold independently of its AI momentum. 



Meanwhile, Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) faced a steep decline after the DOJ pushed for Chrome&#8217;s divestiture, erasing over $120 billion in market cap on Thursday. 



On the economic side, November saw strong U.S. private sector growth, with S&amp;P Global&#8217;s PMI showing the services sector expanding at its fastest rate since March 2022, while inflation pressures eased, <a href="https://www.benzinga.com/news/global/24/11/42148498/wall-street-rebounds-without-its-ai-darlings-boost-king-dollar-maintains-dominance-while-bitcoin-defies-gravity-this-week-in-the-markets">aiding the Fed&#8217;s outlook.</a>



Benzinga provides daily reports on the stocks most popular with investors. Here are a few of this past week&#8217;s most bullish and bearish posts that are worth another look.



<h3 class="wp-block-heading">The Bulls</h3>



&#8220;<a href="https://www.benzinga.com/24/11/42072727/exclusive-bitcoin-advocate-anthony-pompliano-says-coinbase-is-similar-to-apple-has-something-that-cant-be-bought">EXCLUSIVE: Bitcoin Advocate Anthony Pompliano Says Coinbase Is Similar To Apple, &#8216;Has Something That Can&#8217;t Be Bought&#8217;</a>,&#8221; by <a href="https://www.benzinga.com/author/chris-katje">Chris Katje</a>, features Anthony Pompliano comparing Coinbase Global, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) to Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), emphasizing its trust and brand power as a leading crypto platform attracting new investors during a pro-crypto administration.



&#8220;<a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42097462/dogecoin-millionaire-shares-50-million-meme-coin-strategy-for-2025-pepe-brett-are-this-bull-runs-doge-shiba-inu">Dogecoin Millionaire Shares $50 Million Meme Coin Strategy For 2025: Pepe, Brett Are This Bull Run&#8217;s DOGE, Shiba Inu</a>,&#8221; by <a href="https://www.benzinga.com/author/khyathi-dalal">Khyathi Dalal</a>, details Glauber Contessoto&#8216;s diversified $50 million investment strategy for 2025. The strategy predicts that Pepe (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">PEPE</a>) and Brett (CRYPTO: BRT) will dominate the next bull market, following the success patterns of Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) and Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>).



&#8220;<a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42102652/michael-saylors-microstrategy-takes-wall-street-by-storm-becomes-second-most-traded-stock-after-nvidia">Michael Saylor&#8217;s MicroStrategy Takes Wall Street By Storm, Becomes Second-Most Traded Stock After Nvidia</a>,&#8221; by <a href="https://www.benzinga.com/author/aniket-verma">Aniket Verma</a>, highlights MicroStrategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) surpassing trading volumes of Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) and Apple Inc., finishing second to NVIDIA Corp. after a surge in Bitcoin-related (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) market interest.



For additional bullish calls of the past week, check out the following:



<a href="https://www.benzinga.com/24/11/42082542/supermicro-computer-shares-soar-32-as-it-avoids-nasdaq-delisting-but-analysts-are-not-convinced-heres-whats-coming-next-for-smci">Super Micro Computer Shares Soar 32% As It Avoids Getting Booted Off Nasdaq, But Analysts Are Not Convinced: Here&#8217;s What&#8217;s Coming Next For SMCI</a>



<a href="https://www.benzinga.com/general/gaming/24/11/42047265/gamestop-adds-nat-turner-to-board-does-the-move-show-bigger-bet-on-trading-cards-grading">GameStop Adds Nat Turner To Board: Does The Move Show Bigger Bet On Trading Cards, Grading?</a>



<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/42096407/microsoft-one-of-the-most-compelling-investment-opportunities-says-goldman-sachs">Microsoft &#8216;One Of The Most Compelling Investment Opportunities,&#8217; Says Goldman Sachs</a>



The Bears



&#8220;<a href="https://www.benzinga.com/news/large-cap/24/11/42094649/nvidia-stock-historically-drops-in-december-after-q3-earnings">Nvidia Stock Historically Drops In December After Q3 Earnings</a>,&#8221; by <a href="https://www.benzinga.com/author/piero-cingari">Piero Cingari</a>, highlights that NVIDIA Corp. has historically struggled in December, with an average 1.84% decline and only 40% of Decembers closing positive since 2014, despite strong Q3 earnings. 



&#8220;<a href="https://www.benzinga.com/general/sports/24/11/42094958/netflix-faces-class-action-lawsuit-over-streaming-crashes-during-jake-paul-mike-tyson-fight">Netflix Faces Class-Action Lawsuit Over Streaming Crashes During Jake Paul, Mike Tyson Fight</a>,&#8221; by <a href="https://www.benzinga.com/author/chris-katje">Chris Katje</a>, reports on Netflix Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) facing legal action for technical issues during the Jake Paul vs. Mike Tyson boxing match, which attracted over 108 million viewers, making it the most-streamed sporting event ever but resulting in service disruptions that sparked subscriber lawsuits.



&#8220;<a href="https://www.benzinga.com/24/11/42097477/muddy-waters-carson-block-is-betting-against-elf-beauty-short-seller-believes-company-is-overstating-revenue-earnings-major-red-flag">Muddy Waters&#8217; Carson Block Bets Against E.L.F. Beauty: Short Seller Says Retailer&#8217;s Financials Show &#8216;Major Red Flag&#8217;</a>,&#8221; by <a href="https://www.benzinga.com/author/adam-eckert">Adam Eckert</a>, details Carson Block&#8216;s short position against e.l.f. Beauty Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ELF#NYSE">ELF</a>), alleging inflated revenues of $135-$190 million over three quarters, citing discrepancies between reported growth and U.S. Customs import data.



For more bearish takes, be sure to see these posts:



<a href="https://www.benzinga.com/24/11/42097545/feds-bowman-warns-on-inflation-risks-signals-neutral-rate-may-be-closer">Fed&#8217;s Bowman Warns On Inflation, Says Neutral Interest Rates May Be Closer &#8216;Than We Currently Think&#8217;</a>



<a href="https://www.benzinga.com/news/earnings/24/11/42085436/target-q3-earnings-supply-chain-chaos-hits-bottomline-slashes-annual-profit-outlook-stock-tanks">Target Q3 Earnings: Supply Chain Chaos Hits Bottomline, Slashes Annual Profit Outlook, Stock Tanks</a>



<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/42127938/bitcoin-analyst-warns-of-4-6-flash-crashes-before-year-end-as-it-inches-closer-to-100k-thats-the-moment-altcoins-shoot-off">Bitcoin Analyst Warns Of &#8216;4-6 Flash Crashes&#8217; Before Year-End As It Inches Closer To $100K: That&#8217;s The Moment Altcoins &#8216;Shoot Off&#8217;</a>



Keep up with all the latest breaking news and trading ideas by following<a href="https://twitter.com/Benzinga"> Benzinga</a><a href="http://twitter.com/Benzinga"> on Twitter</a>.

Long Ideas

Short Sellers

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$PEPE

$SHIB

COIN

NFLX

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Benzinga Bulls And Bears: Coinbase, MicroStrategy, Nvidia, e.l.f. Beauty - And Dogecoin Millionaire Predicts 2025 Meme Kings

A market analyst says Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>) could experience a massive rally, predicting gains exceeding 2,000%.



What Happened: The forecast has sparked excitement among the cryptocurrency's community as SHIB continues to gain traction as a leading meme coin.



Crypto analyst Austin Hilton, known for his bold predictions, shared his thoughts in a <a href="https://www.youtube.com/watch?v=f_vGuPm_7FQ">post</a> on YouTube and suggested that favorable market conditions and strategic developments could push SHIB into a significant uptrend.



Hilton highlighted key catalysts, such as increased adoption and potential ecosystem upgrades, as reasons behind the bullish outlook.



Shiba Inu has already seen remarkable growth since its inception, fueled by its vibrant community and utility within the Shiba ecosystem, including decentralized exchanges and NFT marketplaces. The recent prediction has added momentum to the ongoing discussions about SHIB's long-term potential.



Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39127538/massive-shiba-inu-burn-ignites-hope-for-price-recovery-despite-market-downturn">Massive Shiba Inu Burn Ignites Hope For Price Recovery Despite Market Downturn</a>



At the time of writing, SHIB was trading at $0.00002478, down by 4% in the last 24 hours. 



Despite its current price hovering at fractions of a cent, the analyst believes that strategic milestones could propel SHIB's value. These include the expansion of ShibaSwap, further token burns to reduce supply, and adoption by mainstream businesses for payments.



However, experts have cautioned that such exponential growth is not guaranteed and remains highly speculative. The cryptocurrency market's volatility and reliance on broader economic conditions mean that predictions should be approached with caution. Investors are advised to conduct thorough research and assess risks before making decisions.



Read Next



<a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42027124/forget-dogecoin-and-shiba-inu-this-meme-coin-skyrockets-after-coinbase-hints-at-possible-listing">Forget Dogecoin And Shiba Inu — This Meme Coin Skyrockets After Coinbase Hints At Possible Listing</a>



This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Crypto Analyst Sees Shiba Inu Surging More Than 2,000% In Coming Rally

Investor and author Robert Kiyosaki has criticized the U.S. Federal Reserve and commended Michael Saylor, co-founder and executive chairman of MicroStrategy Inc. for his aggressive <a href="https://www.benzinga.com/news/24/09/40869188/robert-kiyosaki-rings-alarm-bells-over-soaring-us-debt-the-dollar-is-trash">Bitcoin acquisition strategy</a>.



What Happened: Kiyosaki, known for his pro-cryptocurrency stance, took to social media X to voice his skepticism about the Fed's policies and inflation management. 



He labeled the central bank&#8217;s decisions as detrimental to the economy and suggested that Saylor&#8217;s Bitcoin strategy offers a viable hedge against these issues.



"Michael Saylor's bold Bitcoin purchasing strategy is not just investment; it's a fight against the Fed's reckless policies," Kiyosaki wrote in the post. 



The author has long been an advocate for Bitcoin and other alternative assets, frequently advising followers to invest in assets like gold, silver, and cryptocurrencies to protect themselves from what he sees as the erosion of purchasing power.



Saylor's MicroStrategy is recognized as one of the largest institutional Bitcoin holders, having spent billions acquiring the cryptocurrency. Saylor maintains that Bitcoin is the ultimate store of value in a world grappling with rising inflation and economic uncertainty.



Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41869087/kiyosaki-aims-to-own-100-bitcoins-by-2025-i-wish-bitcoin-was-back-to-10-a-coin-but-wishing-has-never-made-poor-people-richer">Kiyosaki Aims To Own 100 Bitcoins By 2025: &#8216;I Wish Bitcoin Was Back To $10 A Coin, But Wishing Has Never Made Poor People Richer&#8217;</a>



In his post Kiyosaki also praised President-elect Donald Trump and his position on Bitcoin. Kiyosaki highlighted his work with Trump and shared his belief that Trump could become the first "Bitcoin President," a reflection of Trump's supportive attitude toward cryptocurrency.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">BIG MOUTH no BALLS: Why dooes a certain loudmouth who sells gold…criticize MICHAEL SAYLOR for using his company MICROSTRATEGY's treasury and credit to buy Billions in BITCOIN….Making himself, his company, and investors like me….RICHER….buying billions in BITCOIN. Would Mr.…&mdash; Robert Kiyosaki (@theRealKiyosaki) <a href="https://twitter.com/theRealKiyosaki/status/1860158537936113938?ref_src=twsrc%5Etfw">November 23, 2024</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



He wrote, &#8220;Let's make America and the world richer again with Bitcoin.&#8221;



Kiyosaki continued to criticize fiat currencies, describing them as tools of government control. 



Why It Matters: His statements reflect a broader sentiment within the crypto community that views Bitcoin as a decentralized alternative to traditional financial systems.



The debate over Bitcoin as a safeguard against inflation has intensified as governments worldwide grapple with economic challenges. Both Kiyosaki and Saylor remain prominent figures in this discourse, influencing retail and institutional investors alike.



Read Next



<a href="https://www.benzinga.com/news/24/10/41305328/robert-kiyosaki-predicts-stock-market-crash-says-invest-in-gold-silver-and-bitcoin" target="_blank" rel="noreferrer noopener">Robert Kiyosaki Predicts Stock Market Crash, Says Invest In Gold, Silver, And Bitcoin</a>



This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.



Image: Shutterstock

Robert Kiyosaki: 'Trump Will Make America Richer Again By Being The First Bitcoin President'

Berkshire Hathaway Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) has amassed a staggering <a href="https://www.benzinga.com/markets/equities/24/11/42143260/warren-buffett-claims-to-not-time-the-market-but-his-cash-horde-tells-a-different-story">$325 billion cash reserve,</a> its largest ever, and nearly double the previous year's balance. This coincides with a record high in Warren Buffett's favored valuation metric: the stock market&#8217;s value relative to the U.S. economy. While this may seem like Buffett is predicting an imminent market downturn, his strategy is more nuanced and insightful.



What Happened: Nir Kaissar, founder of Unison Advisors, said in an opinion <a href="https://www.bloomberg.com/opinion/articles/2024-11-21/buffett-s-325-billion-cash-hoard-is-an-early-warning-signal">piece</a> for Bloomberg that Buffett readily admits he cannot forecast short-term market movements or crashes. Instead, he focuses on long-term returns, adjusting Berkshire's asset allocation accordingly.



Kaissar explains this approach as allocating assets based on expected returns rather than speculating on market timing. This principle has <a href="https://www.benzinga.com/24/11/41867250/warren-buffetts-apple-stake-reduction-spurs-97b-cash-surge-analysts-speculate-this-could-be-the-reason-behind-berkshire-hathaways-massive-cash-pile">consistently shaped Buffett's decisions</a>.



Berkshire's cash allocation has fluctuated dramatically, from 1% in 1994 to 28% today. &#8220;The record shows Buffett consistently raising Berkshire's cash allocation as stock valuations rise during booms — and expected returns consequently decline — and drawing down cash as opportunities arise,&#8221; Kaissar said.



See Also: <a href="https://www.benzinga.com/24/11/42088394/economist-gordon-johnson-slams-federal-reserve-for-asset-owner-centric-policies-says-fed-needs-to-focus-on-the-real-economy-over-stock-markets" target="_blank" rel="noreferrer noopener">Gordon Johnson Slams Federal Reserve For Asset-Owner Centric Policies, Says Jerome Powell Needs To Focus On ‘Real Economy&#8217;: ‘…The Stock Market Will Be Fine&#8217;</a>



He added that during the 1990s internet bubble, Buffett increased cash holdings as valuations soared but deployed capital as opportunities emerged. Similarly, leading up to the 2008 financial crisis, Buffett boosted cash reserves, only to invest strategically during the downturn, including a well-timed Goldman Sachs stake.



Buffett's approach hinges on a fundamental principle: valuations and future returns are inversely related. When assets are overvalued, expected returns decline, justifying higher cash reserves.



Today, the market-to-GDP ratio is at unprecedented levels, signaling potentially lower future returns. With cash yields comparable to those during past booms, Berkshire's significant cash reserve reflects Buffett's strategy of preparing for opportunities in an uncertain market.



Why It Matters: The surge in Berkshire&#8217;s cash reserve has sparked speculation about Buffett&#8217;s motives. Some analysts believe it could be a sign of an impending market downturn, while others suggest it may be part of a larger strategy, such as an acquisition plan or<a href="https://www.benzinga.com/markets/equities/24/11/42137295/as-mstrs-michael-saylor-says-warren-buffett-is-destroying-berkshire-capital-analyst-suggests-overpricedhot-stock-market-could-be-the-reason-oracle-of-omaha-is-sitting-on-325b-cash"> a buyback plan</a> in case of a succession.



Jeff Muscatello, a research analyst at Berkshire investor Douglass Winthrop, suggested that the impending management transition could be a factor in Buffett's decision to cash out. "The nearing <a href="https://www.benzinga.com/markets/24/11/41869558/warren-buffetts-apple-stake-reduction-spurs-97b-cash-surge-analysts-speculate-this-could-be-the-reas">inevitable management transition makes</a> it an opportune time to clear the decks for the next generation," he said.



MicroStrategy Inc. co-founder Michael Saylor also weighed in. Saylor said <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42084722/warren-buffett-destroy-not-investing-in-bitcoin-says-microstrategys-michael-saylor">Buffett was destroying billions </a>of dollars in capital by not utilizing the huge hordes of cash at their disposal to invest in Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>). "I'd&nbsp;want to bet you&nbsp;that if I had an&nbsp;hour alone with Buffett in&nbsp;a calm environment, I'd&nbsp;walk out and he would&nbsp;say this Bitcoin thing is a&nbsp;pretty good idea," he said.



Read next: 



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<li><a href="https://www.benzinga.com/24/11/42134031/markets-got-it-wrong-after-elections-prospects-of-tariffs-not-good-for-equities-vs-dollar-says-ex-goldman-sachs-analyst" target="_blank" rel="noreferrer noopener">Markets Misread Trump Win, Says Ex-Goldman Sachs Analyst: ‘Prospects Of Tariffs Not Good For Equities'</a></li>
</ul>



Image via Flickr



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.

Is Warren Buffett Preparing For A Market Downturn With Berkshire Hathaway's $325B Cash Pile? Analyst Says Internet Bubble And 2008 Crash May Have Lessons

Elon Musk sparked confusion online yet again – this time with his take on Argentina's new import tax cuts. Recently, Argentina&#8217;s President-elect Javier Milei announced a major policy change to reduce taxes on imports.&nbsp;



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As part of his economic reform plan, Milei wants to make imported goods more affordable. Starting in December, he will raise the tax-free limit on international purchases from $1,000 to $3,000. Personal imports will also get a tariff exemption of up to $400. This move is meant to open up the economy and make things easier for shoppers in Argentina.&nbsp;



Elon Musk seemed to think so. In response to a tweet discussing Milei&#8217;s idea, he expressed his support for the tax cut by simply saying, &#8220;Good move.&#8221;&nbsp;



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Good move <a href="https://t.co/lrIevpBU3l">https://t.co/lrIevpBU3l</a>&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1857698387371397241?ref_src=twsrc%5Etfw">November 16, 2024</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



The tweet caught a lot of attention as many people quickly called Musk out for what they saw as mixed signals – supporting a policy in Argentina that seems opposite to the <a href="https://www.benzinga.com/economics/macro-economic-events/24/11/42042411/inflation-could-surge-to-3-if-trump-applies-universal-tariffs-goldman-sachs">U.S. import tariffs promoted by Donald Trump</a>, whom Musk has also publicly supported.



For instance, one user tweeted, &#8220;You supported the presidential campaign of the guy advocating for the largest tariff hike in modern U.S. history, lmao.&#8221; Another wrote, &#8220;Import taxes = tariffs. You support cutting them elsewhere and raising them here? Shameful hypocrisy.&#8221; Alex Cole added to the discourse, writing, &#8220;So removing tariffs is a good move and Donald Trump adding tariffs is also a good move? Bizarro world.&#8221;



See Also: This Jeff Bezos-backed startup will allow you to <a href="https://www.benzinga.com/money/bezos-landlord-100-dollars">become a landlord in just 10 minutes, with minimum investments as low as $100 for properties like the Byer House from Stranger Things.</a>



<h2 class="wp-block-heading">Different Countries, Different Needs?</h2>



Not everyone saw it as straight-up hypocrisy. Some X users argued that Musk's take could be valid if viewed in the context of Argentina's economy compared to the U.S.&nbsp;



<a href="https://www.benzinga.com/news/24/01/36597688/argentinas-inflation-was-around-200-in-2023-and-it-could-get-worse-in-2024-new-leadership-says-it-wi">Argentina is dealing with hyperinflation</a> and a major recession, so reducing import taxes might be a much-needed lifeline to help people afford basic goods. Dan Victor, a CFA, commented, &#8220;It&#8217;s different for the world&#8217;s largest economy compared to one suffering from a deep recession and hyperinflation.&#8221;



Another user pointed out that different countries might use different tools for different reasons. &#8220;Start by studying comparative economic policy. Then, once you understand that two completely different countries/economies implementing different policies is normal, this should make a little more sense.&#8221;



While some felt Musk was inconsistent, others believed his opinion could make sense given the drastically different economic situations of Argentina and the United States. The U.S. has a massive, stable economy, whereas Argentina is struggling to stabilize itself amid economic turmoil.



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'Bizarro World' – People Are Really Confused By Elon Musk Praising Argentina's Javier Milei Slashing Import Taxes

Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) experienced a 5% surge following a tweet by Elon Musk on X. This has sparked fresh speculations about the imminent payments service on Musk&#8217;s social app.



What Happened: Musk&#8217;s Friday post, which featured a screenshot of podcaster Joe Rogan&#8217;s X profile, triggered the increase in Dogecoin&#8217;s price. 



The post displayed a unique dollar icon, different from the app&#8217;s tipping service, leading to speculations that it could be related to the anticipated X Payments service.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Have to say that <a href="https://twitter.com/joerogan?ref_src=twsrc%5Etfw">@joerogan</a>'s profile description is awesome &#x1f602; <a href="https://t.co/6Z8hUAQIBj">pic.twitter.com/6Z8hUAQIBj</a>&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1859930496278368525?ref_src=twsrc%5Etfw">November 22, 2024</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Musk responded to the speculation with a simple &#8220;true&#8221;, further fueling the rumors. Dogecoin&#8217;s price has historically been influenced by payment-related news from any of Musk&#8217;s ventures, including X, formerly known as Twitter.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">True&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1860003103518732614?ref_src=twsrc%5Etfw">November 22, 2024</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



There are speculations that once the service is live, it might support transactions with digital assets like DOGE, given Musk&#8217;s known fondness for the token. 



Musk&#8217;s electric car company, already accepts DOGE payments for certain merchandise purchases in its online store.



Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40429878/dogecoins-active-users-on-the-rise-will-this-impact-doge-price">Dogecoin&#8217;s Active Users On The Rise, Will This Impact DOGE Price?</a>



Over the past 24 hours, DOGE has advanced 6.16% and at the time of writing it was trading at $0.4332, outperforming the stagnant Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) prices. The token has risen 190% over the past month, trading at its highest level since May 2021.



Why It Matters: The surge in Dogecoin&#8217;s price following Musk&#8217;s tweet is significant as it highlights the influence Musk has over the cryptocurrency market. 



His tweet sparked speculations about the forthcoming X Payments service, which could potentially support transactions with digital assets like DOGE. 



This is particularly noteworthy given Musk&#8217;s known fondness for the token and the fact that his electric car company, Tesla Inc., already accepts DOGE payments for certain merchandise purchases. 



The rise in DOGE&#8217;s price also outperformed the stagnant bitcoin prices, indicating a growing interest in alternative cryptocurrencies.



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Musk Tweet Sparks Dogecoin Surge, Fuels Speculation On X Payments

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