Ultime notizie per Ermenegildo Zegna (NYSE:ZGN) Azioni

Ermenegildo Zegna

Ermenegildo Zegna NV designs creates, and distributes luxury menswear and accessories under the Zegna brand, as well as womenswear, menswear, and accessories under the Thom Browne brand. It operates in three segments: the Zegna segment (comprising three product lines: Zegna Branded Products, Textile, and Third Party Brands); the Thom Browne segment; and the Tom Ford Fashion segment. It generates the majority of its revenue from the Zegna segment.

Ermenegildo Zegna NV

Polymarket traders are split on Dogecoin's (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) trajectory as Inauguration Day approaches, with a 41% chance for DOGE to hit the 69 cents <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42169183/dont-get-fooled-by-the-success-of-dogecoin-shiba-inu-76-of-x-twitter-influencers-promote-dead-meme-coins-study-reveals">milestone by Jan. 20 next year</a>.
This <a href="https://polymarket.com/event/will-doge-hit-69-by-inauguration-day">represents</a> a slight dip in confidence from the 53% chance on Nov.23.
With over $40,000 in trading volume on the market, the debate reflects mixed sentiment on Dogecoin's near-term prospects.
Dogecoin has surged 175% in the past month, with its market capitalization rising to $57.8 billion, overtaking luxury automaker Porsche's valuation of $56.1 billion. 
Over the past year, Dogecoin has outperformed the car maker, rising 395%, while Porsche's market cap has dropped more than 34% due to weakening performance.
The rise has been fueled by a combination of retail enthusiasm, institutional adoption and high-profile endorsements.
Elon Musk's influence has been a significant factor in Dogecoin's resurgence. 
His <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42152684/musk-tweet-sparks-dogecoin-surge-fuels-speculation-on-x-payments">continued social media endorsements</a> and his involvement in creating the Department of Government Efficiency (DOGE), a federal agency focused on reducing government spending, have stoked investor enthusiasm.
The <a href="https://www.benzinga.com/news/24/11/42157649/trumps-doge-co-lead-elon-musk-slams-lockheed-martins-f-35-fighter-jets-advocates-drone-warfare-as-pentagon-defends-1-8-trillion-program">agency's acronym</a>, which coincidentally matches Dogecoin's ticker symbol, has been seen by some retail investors as a bullish signal for the token's future.
Musk's indirect backing has amplified Dogecoin's popularity among retail and institutional investors alike.
&#8220;Global enthusiasm for Dogecoin has reached unprecedented levels,&#8221; said a market analyst. &#8220;It's clear that Musk's influence remains a critical driver.&#8221;
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42221726/crypto-dad-chris-giancarlo-advocates-for-passing-crypto-regulation-from-the-sec-to-another-commission-heres-why">&#8216;Crypto Dad&#8217; Chris Giancarlo Advocates For Passing Crypto Regulation From The SEC To Another Commission — Here&#8217;s Why</a>
Why It Matters: Institutional backing for Dogecoin has also increased with the launch of the first DOGE-based exchange-traded product (ETP) by Valour, a subsidiary of DeFi Technologies, on November 26.
The <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42198180/dogecoin-gets-its-first-exchange-traded-product-in-sweden">DOGE ETP</a> provides institutional investors a new way to gain exposure to the cryptocurrency, adding legitimacy to an asset once dismissed as a mere meme.
Despite its strong performance, Polymarket bettors reflect skepticism, with 59% doubting the token's ability to hit 69¢ by Inauguration Day. 
Additionally, the Market Value to Realized Value (MVRV) ratio for Dogecoin, which measures the current market valuation against the average acquisition cost, suggests potential overvaluation. 
A high MVRV ratio often precedes a price correction, adding another layer of uncertainty <a href="https://www.benzinga.com/money/dogecoin-doge-price-prediction">to Dogecoin's outlook</a>.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42221293/donald-trump-eyes-former-sec-comissioner-paul-atkins-as-gary-genslers-successor">Donald Trump Eyes Former SEC Comissioner Paul Atkins As Gary Gensler&#8217;s Successor</a></li>
</ul>
Image: Shutterstock

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

Cryptocurrency

News

$DOGE

Dogecoin To Hit 69 Cents By Inauguration Day? Polymarket Traders Are Not Convinced

Christine Lagarde, the European Central Bank chief, has called on European leaders to engage in negotiations with Donald Trump to avoid a trade war. Lagarde emphasized the importance of cooperation over retaliation in response to Trump&#8217;s proposed tariffs.
What Happened: In her first interview since Trump&#8217;s re-election, Lagarde warned that a trade war could severely impact global economic growth. She stated that Europe should adopt a &#8220;cheque-book strategy&#8221; by purchasing more U.S. goods, such as liquefied natural gas and defense equipment, to mitigate potential conflicts, the Financial Times <a href="https://www.ft.com/content/24d5d526-b970-4e53-a262-9a678319ce23">reported</a> on Thursday.
Lagarde expressed concern over Trump&#8217;s threats of imposing up to 20% tariffs on non-Chinese imports, highlighting the risk to the EU&#8217;s trade surplus with the U.S. She argued EU needs "not to retaliate, but to negotiate" and that a retaliatory approach could lead to a detrimental tit-for-tat scenario.
See Also: <a href="https://www.benzinga.com/24/11/42206614/polygons-pol-token-outshines-bitcoin-ethereum-in-30-day-gains-top-analyst-anticipates-no-major-selling-pressure-in-days-ahead?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Crypto&#8217;s Next Mega-Rocket? Analyst Forecasts Insane 2725%-6600% Surge For This Coin</a>
The European Commission is currently evaluating its response options, which may include increasing U.S. export purchases and aligning more closely with U.S. trade policies. Lagarde&#8217;s comments reflect a shift in strategy, urging Europe to transform perceived threats into challenges that require proactive responses.
Why It Matters: The call for negotiation comes amid heightened tensions <a href="https://www.benzinga.com/24/11/42178994/trump-says-he-will-impose-25-tariffs-on-canada-mexico-on-first-day-of-office-and-extra-tariffs-on-china-until-they-pay-attention">following Trump&#8217;s announcement</a> of imposing a 25% tariff on imports from Canada and Mexico, citing border security concerns. This move has <a href="https://www.benzinga.com/24/11/42225506/canada-prepares-retaliatory-tariffs-as-trumps-threat-looms-analysts-warn-of-further-loonie-weakness">already prompted Canada</a> to consider retaliatory tariffs on U.S. goods. The potential for a trade war is further complicated by Trump&#8217;s additional tariff threats on Chinese imports, which he claims are necessary to address drug trafficking issues.
Moreover, companies like Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) and Intel Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) are already reassessing their operations in Mexico due to the<a href="https://www.benzinga.com/24/11/42216863/nvidia-intel-suppliers-rethink-mexico-operations-amid-trumps-tariff-threat"> looming tariff threats</a>. These developments underscore the potential widespread economic impact of Trump&#8217;s trade policies, making Lagarde&#8217;s call for negotiation a critical step in preventing further economic disruption.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/24/11/42206056/bitcoin-ethereum-dogecoin-tumble-as-diamond-hands-lock-in-gains-analyst-anticipates-strong-buyback-pressure-to-follow-sell-pressure?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin, Ethereum, Dogecoin Tumble As &#8216;Diamond Hands&#8217; Lock In Gains: Top Analyst Anticipates BTC Rebound</a></li>
</ul>
Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Image via Flickr

General

INTC

NVDA

Europe's Top Central Banker Says 'Not To Retaliate, But To Negotiate' To Avoid Trump Trade War

James Howells might go down in history books as one of the unluckiest people ever, having discarded hundreds of millions of dollars in Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) accidentally.
But a new twist in this decade-old bizarre saga revealed that it was not him but his ex-girlfriend who unintentionally threw the fortune away. 
What Happened: Halfina Eddy-Evans <a href="https://www.dailymail.co.uk/news/article-14117759/threw-away-569million-Bitcoin-fortune-council-tip.html">confessed</a> during&nbsp;a Monday interview with the Daily&nbsp;Mail&nbsp;that she threw away the&nbsp;hard drive containing 8,000 Bitcoin&nbsp;at the request of Howells. She was adamant that the loss was not her fault, as she did so at Howells&#8217; request.
Halfina said Howells &#8220;begged&#8221; her to dispose of some &#8220;unwanted belongings,&#8221; in a black sack, which, unknown to her, included the hard drive.
&#8220;I thought he should be running his errands, not me, but I did it to help out,&#8221; Howells said.
Halfina said that the blame for losing Bitcoins shouldn&#8217;t be fixed on her, though she hoped Howells would succeed in retrieving the drive. 
See Also:&nbsp;<a href="https://www.benzinga.com/24/11/42228264/crypto-analyst-flags-convertible-debt-induced-liquidation-risk-to-michael-saylors-microstrategy">Crypto Analyst Flags Convertible Debt-Induced Liquidation Risk To Michael Saylor&#8217;s MicroStrategy</a>
Why It Matters: This revelation added a new layer to the unfortunate story of Howells, who has been waging a long battle to recover his fortune. 
A Wales-based software engineer, Howells, <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41308908/man-who-accidentally-threw-hard-drive-containing-8-000-bitcoins-worth-half-a-billion-dolla">sued the Newport City Council </a>for approximately $647 million in damages for repeatedly denying his request to excavate the landfill site housing the discarded hard drive.
He has even assembled a team of specialists to excavate at no cost to the council and proposed giving the council 10% of the recovered coins' value.
The 8,000 Bitcoins would be worth $797 million at the all-time high price of 99,645 recorded recently and $765.9 million at the current market price of $95.736.86.
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42229486/joe-rogan-hasnt-sold-his-bitcoins-for-over-a-decade-conviction-based-hodling-or-private-key-loss">Joe Rogan&#8217;s Bitcoin Pile Has Grown Over 30000% In Value, But He Hasn&#8217;t Sold: Conviction-Based HODLing Or Has The Podcast King Lost His Keys?</a></li>
</ul>
Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Image generated using Dall-E<a href="https://www.benzinga.com/apis?utm_source=benzinga.com&amp;utm_campaign=article-bottom" target="_blank" rel="noreferrer noopener"></a>

Markets

$BTC

Remember James Howells Who Lost His Hard Drive With 8,000 Bitcoins Now Worth $760M? His Ex-Girlfriend Reveals It Was She Who Threw It Away

Billionaire entrepreneur and &#8220;Shark Tank&#8221; host Mark Cuban has offered his services to Elon Musk and Vivek Ramaswamy&#8217;s <a href="https://www.benzinga.com/topic/department-of-government-efficiency">Department of Government Efficiency (DOGE)</a> in a bid to cut federal healthcare costs.
What Happened: On Wednesday, Cuban responded to a user on X, formerly Twitter, who asked if his company, Cost Plus Drugs, could be integrated into government healthcare programs to help cut costs.
In response to the user, Cuban said "Both know how to reach me," referring to Musk and Ramaswamy.
The user's request was about DOGE, an agency led by Musk and Ramaswamy, which aims to drive cost-saving reforms within the federal bureaucracy.
Musk and Ramaswamy, through DOGE, are focused on achieving large-scale reforms within government agencies
See Also: <a href="https://www.benzinga.com/personal-finance/24/11/42193386/mark-cuban-shared-600-a-month-dallas-apartment-with-5-guys-and-slept-on-the-living-room-floor-i-had-nothing-so-i-had-nothing-to-lose">Mark Cuban Shared $600 A Month Dallas Apartment With 5 Guys And Slept On The Living Room Floor</a>
<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">Both know how to reach me. <a href="https://t.co/Jl9gYpZAYs">https://t.co/Jl9gYpZAYs</a>
&mdash; Mark Cuban (@mcuban) <a href="https://twitter.com/mcuban/status/1861524965750661386?ref_src=twsrc%5Etfw">November 26, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Why It Matters: With healthcare costs continuing to rise, especially prescription drug prices, there is growing interest in alternatives to the traditional pharmaceutical distribution system.
Cuban's pharma company, launched in 2022, was founded to reduce the cost of prescription drugs by <a href="https://www.benzinga.com/news/23/02/30672271/mark-cuban-aims-to-disrupt-a-365-billion-industry-with-the-only-startup-that-bears-his-name">cutting out intermediaries</a> in the pharmaceutical supply chain. 
The company's transparent pricing model provides consumers with generic medications at a much lower cost than traditional methods.
If DOGE partners with Cuban's company, it could potentially bring these cost-saving measures to federal healthcare programs, such as Medicare and Medicaid.
Last year in June, a social media user questioned Cuban why his company, Cost Plus Drugs, doesn't offer Ivermectin, citing a stark price disparity between Africa and the U.S. 
At the time, Musk chimed in saying, "Good question," to which Cuban responded, explaining that his company couldn't secure a competitive price for Ivermectin but offered Hydroxychloroquine as an alternative.
He also <a href="https://www.benzinga.com/news/23/12/36231355/mark-cubans-cost-plus-drugs-gets-medication-elon-musk-asked-about-6-months-ago-still-ready-to-save-t">suggested Musk explore Cost Plus Drugs</a> to save his employees and companies significant money.
Six months later, Cuban updated Musk, announcing that Ivermectin was now available on Cost Plus Drugs, reiterating the potential savings for Tesla Inc., SpaceX, and X employees, and inviting Musk's team to reach out for collaboration.
For anyone hoping to invest in a <a href="https://www.benzinga.com/news/24/01/36836747/mark-cuban-talks-elon-musk-dei-health-care-investments-buying-twitter-and-more-in-an-x-ama">future IPO of Cost Plus Drug Company</a>, Cuban earlier this year stated that it's &#8220;Not going to happen. Maximizing profits is not our goal.&#8221;
According <a href="https://www.fortunebusinessinsights.com/prescription-drugs-market-102709">to</a> Fortune Business Insights, in 2023, the global prescription drug market&#8217;s value reached approximately $1,162.61 billion, with North America contributing a significant share, estimated at $576.35 billion.
The iShares U.S. Healthcare Providers ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IHF#NYSE">IHF</a>) ended Wednesday&#8217;s session up by 0.24% at $54.40. Year-to-date, it has gained 1.8%, according to <a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener">Benzinga Pro data</a>.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/trading-ideas/movers/24/11/42169194/joby-gets-toyotas-500m-dollar-lift-evtol-pioneer-making-new-highs?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Joby Gets Toyota's $500M Dollar Lift: eVTOL Pioneer Making New Highs</a></li>
</ul>
Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Photos courtesy: Shutterstock

Health Care

Politics

iShares Dow Jones US Health Care Provides Index Fund

Will Mark Cuban Join Rivals Elon Musk, Vivek Ramaswamy's DOGE? 'Shark Tank' Host Says 'Both Know How To Reach Me'

Sandwiched between the Halloween and the Christmas festivities, the Thanksgiving holiday is another special day for Americans that draws families and communities together.
Thanksgiving is celebrated on the fourth Thursday of November. This year, it falls on Nov. 28.
However, away from the festivities and food, the cryptocurrency community was hit hard four years ago to the day, in what has become infamously known as the &#8220;Thanksgiving Day Massacre.&#8221;&nbsp;&nbsp;
What happened: Back in 2020, the Thanksgiving holiday fell on Nov. 26.
Between Tuesday, Nov. 24, and Thursday, Nov. 27, 2020, Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), the world's leading cryptocurrency, fell from about $19,500 to $16,200, marking a dip of almost 17%.
The plunge impacted cryptocurrency portfolios and dampened the festive mood to a great degree.
However, if you were a bold dip buyer and took advantage of the decline to bag Bitcoins at a discount, you would have been smiling four years later.
See Also: <a href="https://www.benzinga.com/trading-ideas/movers/24/11/42228464/ethereum-rally-gets-overshadowed-by-searing-gains-in-cheaper-plays-why-are-ens-and-etc-soaring-today">Ethereum Rally Gets Overshadowed By Searing Gains In Cheaper Plays: Why Are ENS And ETC Soaring Today?</a>
An investment of $1000 when BTC was trading at $16,200 would have fetched you 0.0617 units of the cryptocurrency.
This Thanksgiving, the price of one Bitcoin has leaped to $95,736.86. Accordingly, your Bitcoin stash would have been worth $5909.68, marking a gain of 490%, or nearly a sixfold increase.
Why It Matters: Interestingly, leading up to the holiday, Bitcoin had a steep drop from nearly $100,000 to $91,500, <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42214467/bitcoins-2020-thanksgiving-massacre-to-repeat-or-is-the-holiday-a-turning-point-for-new-highs">fueling concerns about a repetition</a> of the 2020 episode.
However, the corrective action lost steam, and Bitcoin <a href="https://www.benzinga.com/24/11/42228090/bitcoin-ethereum-dogecoin-surge-as-traders-raise-risk-appetite-ahead-of-thanksgiving-analyst-says-eth-could-jump-to-highs-not-seen-since-late-2021">surged back to the $95,000-$96,000</a> zone just a day ahead of Thanksgiving.
Price Action: At the time of writing, Bitcoin was trading at &nbsp;$95,736.86, up 2.65% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>.&nbsp;
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/24/11/42228264/crypto-analyst-flags-convertible-debt-induced-liquidation-risk-to-michael-saylors-microstrategy">Crypto Analyst Flags Convertible Debt-Induced Liquidation Risk To Michael Saylor&#8217;s MicroStrategy</a></li>
</ul>
Photo courtesy: Pixabay

If You Bought The Bitcoin Dip By Investing $1000 During 'Thanksgiving Day Massacre,' Here's How Much You'd Have Today

Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), HP Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HPQ#NYSE">HPQ</a>), and Dell Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DELL#NYSE">DELL</a>) are ramping up their production of electronic components in China. This comes as they prepare for <a href="https://www.benzinga.com/24/11/42178994/trump-says-he-will-impose-25-tariffs-on-canada-mexico-on-first-day-of-office-and-extra-tariffs-on-china-until-they-pay-attention">potential tariff hikes on Chinese imports</a> as President-elect Donald Trump is set to return to the White House in January.
What Happened: These tech giants are accelerating their production efforts in China.&nbsp;Microsoft&nbsp;is pushing suppliers to boost output&nbsp;for its cloud server infrastructure&nbsp;while moving Xbox console assembly out of China. The company also plans to produce as many&nbsp;Surface laptops as possible outside&nbsp;China by the end of&nbsp;next year, Nikkei Asia&nbsp;<a href="https://asia.nikkei.com/Spotlight/Supply-Chain/Microsoft-HP-and-Dell-ramp-up-China-parts-output-before-Trump-s-return">reported</a> on Thursday.
Meanwhile,&nbsp;HP&nbsp;and&nbsp;Dell&nbsp;are urging suppliers to increase parts production this month and next, revisiting their procurement strategies for 2025 to lessen dependency on Chinese-made components. The increased output aims to enhance production in regions not affected by U.S. tariffs, such as Southeast Asia. Suppliers are expanding production capacity and establishing warehouses in Thailand to support&nbsp;HP&#8217;s needs.
Dell&nbsp;is also considering production options outside Vietnam to mitigate geopolitical risks. The tech supply chain is preparing for disruptions, with companies like&nbsp;Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>)&nbsp;increasing iPhone production in India.
See Also:&nbsp;<a href="https://www.benzinga.com/24/11/42156817/tesla-rivian-settle-battery-tech-theft-dispute-after-nearly-4-years?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Tesla, Rivian Signal End To 4-Year Legal Battle Over Alleged Trade Secrets Theft</a>
Why It Matters: The decision by these tech companies to ramp up production in China comes amid rising fears of a renewed trade war between the U.S. and China. Recently, President-elect Trump named&nbsp;Jamieson Greer, known for his <a href="https://www.benzinga.com/24/11/42219544/trump-names-china-hawk-jamieson-greer-as-pick-for-trade-representative">tough stance on China,</a> as his pick for U.S. Trade Representative. 
Furthermore, China&#8217;s state media <a href="https://www.benzinga.com/news/global/24/11/42230125/chinas-state-media-commends-apple-tesla-starbucks-for-collaboration-amid-renewed-trade-war-tensions">praised American companies</a> like Apple, Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), and Starbucks Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NASDAQ">SBUX</a>) for their collaboration with Chinese partners, urging U.S. policymakers to consider the willingness of American businesses to engage in economic cooperation.
This praise coincides with Trump&#8217;s announcement of a <a href="https://www.benzinga.com/government/regulations/24/11/42213610/hasbro-best-buy-brace-as-trumps-tariffs-loom-could-retail-margins-hit-rock-bottom">10% tariff on Chinese goods</a>, aimed at addressing the opioid crisis in the U.S., highlighting the complex dynamics at play in U.S.-China trade relations.
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/24/11/42206614/polygons-pol-token-outshines-bitcoin-ethereum-in-30-day-gains-top-analyst-anticipates-no-major-selling-pressure-in-days-ahead?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Crypto&#8217;s Next Mega-Rocket? Analyst Forecasts Insane 2725%-6600% Surge For This Coin</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

Global

Tech

AAPL

DELL

MSFT

SBUX

TSLA

Microsoft, HP, Dell Race To Ramp Up Production In China As Trump's Tariff Threat Looms Ahead Of His White House Return

Tesla Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) has begun offering lease buyouts for all its vehicle models, marking a shift from its previous strategy of retaining vehicles for <a href="https://www.benzinga.com/24/11/42159490/elon-musks-tesla-hunts-top-talent-to-develop-software-for-robotaxi-optimus-robot-teleoperation-2">a robotaxi fleet</a>.
What Happened: The lease buyout option is available for vehicles like the&nbsp;Cybertruck, Model S, Model 3,&nbsp;Model X, and Model Y, with a $350 purchase fee, excluding Iowa and Louisiana.
Previously,&nbsp;Tesla&nbsp;had stopped lease buyouts, intending to use the vehicles in a self-driving taxi service. This decision aligned with its ambitious plans for autonomous driving, which have yet to fully materialize.
The company had envisioned its cars as appreciating assets through their use as robotaxis.
Despite these plans,&nbsp;Tesla&nbsp;has faced challenges in achieving full self-driving capabilities. The introduction of the lease buyout option suggests a possible revaluation of its autonomous vehicle goals.
This move comes as&nbsp;<a href="https://www.benzinga.com/markets/24/11/42207185/tesla-sweetens-referral-program-allowing-customers-to-earn-up-to-10000-as-elon-musks-ev-giant-races-to-500k-q4-delivery-target">Tesla&nbsp;aims to boost sales</a>, having recently implemented various incentives to counter a slow sales start in 2024.
See Also: <a href="https://www.benzinga.com/tech/24/11/42230503/tesla-cybercab-spotted-testing-in-giga-texas-facility">Tesla Cybercab Spotted Testing In Giga Texas Facility</a>
Why It Matters: Tesla&#8217;s introduction of lease buyouts comes amid a series of developments in its autonomous vehicle strategy.
In April,&nbsp;CEO Elon Musk&nbsp;hinted at a <a href="https://www.benzinga.com/news/24/04/38396288/teslas-robotaxi-to-be-called-cybercab-elon-musk-says-self-driving-fleet-will-be-like-combination-of">unique ownership model for Tesla&#8217;s robotaxi fleet</a>, which he described as a blend of Airbnb and Uber, with the potential name &#8220;Cybercab&#8221;&nbsp;reported&nbsp;during a first-quarter earnings call.
Later, in September, Musk asserted that traditional buses would become obsolete once Tesla&#8217;s robotaxis, equipped with full self-driving capabilities, were operational. He <a href="https://www.benzinga.com/markets/equities/24/09/40979752/elon-musk-says-buses-wont-be-needed-once-tesla-robotaxis-start-operating-will-take-people-point-">emphasized that these robotaxis</a> would offer point-to-point transportation at costs comparable to bus tickets&nbsp;according to&nbsp;his statements on social media.
In October,&nbsp;Tesla&nbsp;<a href="https://www.benzinga.com/news/24/10/41284847/tesla-reveals-two-seater-cybercab-that-drives-itself">unveiled the two-seater Cybercab</a>, a dedicated robotaxi product, at an event in Los Angeles. The vehicle, expected to be priced under $30,000, was showcased with its self-driving capabilities.
Price Action: Tesla stock closed at $332.89 on Wednesday, down 1.6% for the day, but increased slightly by 0.5% in after-hours trading. Year to date, Tesla's stock has gained 34%, according to&nbsp;<a href="https://pro.benzinga.com/dashboard" target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>.
Analysts remain divided on the Tesla stock's prospects, with the consensus rating being "Neutral." The highest price target is $400, while the consensus price target is 232.20, implying a 30% downside.
Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/24/11/42185887/astrophysicist-neil-degrasse-tyson-dismisses-musks-vision-to-build-self-sustaining-city-on-mars?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Astrophysicist Neil deGrasse Tyson Dismisses Elon Musk&#8217;s Mars Vision: SpaceX CEO Hits Back, Says &#8216;They Really Don't Get It'</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Tesla

Tesla Offers Lease Buyout Option For All Models, Including Cybertruck, Despite Elon Musk's Robotaxi Ambitions: Is Autonomous Driving Further Away?

GOP Megadonor Ken Griffin&#8216;s fund Citadel Advisors LLC made a major shift within the AI-linked investment universe by slashing its stake in Palantir Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>) and more than tripling its stake in Nvidia Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), as per its third quarter 13F filings with the SEC.
Citadel Cuts Stake In Palantir
Having been on both the NYSE and Nasdaq exchanges this year, Palantir&#8217;s shares have risen by 298.37% year-to-date. This compares to 20% and 25% moves in the NYSE Composite and Nasdaq 100 Index, respectively, in the same period.
Alex Karp-led company deals with providing access to <a href="https://www.benzinga.com/general/market-summary/24/11/42058235/palantir-board-member-in-a-deleted-x-post-said-nasdaq-move-will-force-billions-in-etf-buying-and-deliver-tendies-heres-what-this-meme-stock-term-means">artificial intelligence</a> targeting tools to the government and military contracts. Knowing Palantir's business it's unlikely for the financial market participants to peg this company for having a vehement, meme-making fandom.
However, its chief executive officer, Griffin-led fund &#8211; Citadel, has decisively cut its exposure to Palantir in the third quarter.
The fund boosted its call positions by 91% and put positions by 55%, but significantly reduced its ownership from 5.68 million shares to 508,086 shares in the third quarter—a 91% decline—bringing the stake&#8217;s value to $18,900 as of Sept. 30.
Also read: <a href="https://www.benzinga.com/general/market-summary/24/11/42206673/trumps-running-mate-vice-president-pick-and-venture-capitalist-jd-vance-holds-etfs-bitcoin-and-more-here-is-a-look-at-his-portfolio" target="_blank" rel="noreferrer noopener">JD Vance's Investment Playbook Has Bitcoin And ETFs: Here's What Else The VP-Elect Is Betting On</a>
Citadel Increase Stake In Nvidia
Nvidia shares have also outperformed the Nasdaq 100 Index as it has zoomed by 181% on a year-to-date basis. It has also been in a tight race with Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) in terms of market capitalization. While it has surpassed Apple&#8217;s market cap earlier, at the time of the publication of this article Apple was ahead with a market cap of $3.551 trillion, while the Jensen Huang-led company stood at $3.314 trillion.
Citadel, one of the largest funds in the U.S., holds positions across 14,115 companies with a total invested value of $518.2 billion. The fund increased its stake by 194% to 7.122 million shares amounting to $864.96 million in Nvidia during the third quarter. 
The AI industry&#8217;s bellwether, Nvidia, under the leadership of Huang, has issued <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">optimistic projections</a> for the forthcoming quarter and fiscal year 2025. This positive outlook is underpinned by the escalating production of the Blackwell chip.
Analyst Views On Palantir And Nvidia
According to <a href="https://pro.benzinga.com/dashboard">Benzinga pro data</a>, Palantir has a consensus price target of $30.22 apiece based on the ratings of 18 analysts. The highest price target among all the <a href="https://www.benzinga.com/quote/PLTR/analyst-ratings">analysts tracked by Benzinga</a> is $75 issued by BofA Securities on Nov. 25, whereas the lowest price target is $7.5 issued by Wolfe Research on Aug. 8, 2023.
The average price target of $63.67 between BofA Securities, Wedbush, and Goldman Sachs implies a 3.83% downside for Palantir.
<figure class="wp-block-image size-large"><a href="https://www.benzinga.com/quote/PLTR/analyst-ratings"><img loading="lazy" decoding="async" width="1024" height="380" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/28053348/palantir-analysts-1024x380.png" alt="" class="wp-image-668965" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/28053348/palantir-analysts-1024x380.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/28053348/palantir-analysts-300x111.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/28053348/palantir-analysts-768x285.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/28053348/palantir-analysts.png 1062w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
According to <a href="https://pro.benzinga.com/dashboard">Benzinga pro data</a>, Nvidia has a consensus price target of $170.56 apiece based on the ratings of 40 analysts. The highest price target among all the <a href="https://www.benzinga.com/quote/NVDA/analyst-ratings">analysts tracked by Benzinga</a> is $220 per share issued by Rosenblatt on Nov. 21, whereas the lowest price target is $120 apiece issued by New Street Research on Aug. 6.
The average price target of $154.67 between DA Davidson, Phillip Securities, and Truist Securities implies a 13.74% upside for Nvidia.
<figure class="wp-block-image size-large"><a href="https://www.benzinga.com/quote/NVDA/analyst-ratings"><img loading="lazy" decoding="async" width="1024" height="384" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/28053401/nvidia-analysts-1024x384.png" alt="" class="wp-image-668966" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/28053401/nvidia-analysts-1024x384.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/28053401/nvidia-analysts-300x112.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/28053401/nvidia-analysts-768x288.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/28053401/nvidia-analysts.png 1059w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
<ul>
<li>Read next: <a href="https://www.benzinga.com/markets/equities/24/11/42186167/michael-saylors-microstrategy-convertible-notes-to-buy-bitcoin-offer-no-interest-so-why-are-investors-rushing-to-buy-them">Michael Saylor&#8217;s MicroStrategy Convertible Notes To Buy Bitcoin Offer No Interest, So Why Are Investors Rushing To Buy Them?</a></li>
</ul>
Image via Shutterstock

Equities

PLTR

GOP Megadonor Ken Griffin Slashes Citadel's Palantir Stake By 91%, Bets Big On Nvidia As Jensen Huang-Led Company Rises Over 180% In 2024

Tesla Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) has been spotted testing the <a href="https://www.benzinga.com/topic/tesla-cybercab">recently announced Cybercab</a> at the Giga Texas facility.
What Happened: Tesla&#8217;s Cybercab has been observed undergoing tests at the Giga Texas facility. A video shared on social media showcased the Cybercab navigating traffic autonomously within the premises.
<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">Tesla Cybercab seen driving at Giga Texas!!!<a href="https://twitter.com/hashtag/robotaxi?src=hash&amp;ref_src=twsrc%5Etfw">#robotaxi</a> <a href="https://twitter.com/hashtag/cybercab?src=hash&amp;ref_src=twsrc%5Etfw">#cybercab</a> <a href="https://twitter.com/hashtag/gigatexas?src=hash&amp;ref_src=twsrc%5Etfw">#gigatexas</a> <a href="https://twitter.com/hashtag/elonmusk?src=hash&amp;ref_src=twsrc%5Etfw">#elonmusk</a> &#x1f4f7; &#x1f3a5; <a href="https://twitter.com/AdanGuajardo?ref_src=twsrc%5Etfw">@AdanGuajardo</a> <a href="https://t.co/DSwab7cHEE">pic.twitter.com/DSwab7cHEE</a>
&mdash; Adan Guajardo (@AdanGuajardo) <a href="https://twitter.com/AdanGuajardo/status/1855699011724063190?ref_src=twsrc%5Etfw">November 10, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Earlier this month, the electric&nbsp;vehicle community was abuzz when a video surfaced showing the Cybercab in action at Giga Texas. The footage highlighted the robotaxi&#8217;s self-driving capabilities, sparking excitement among enthusiasts.
Longtime Giga Texas observer Joe Tegtmeyer reported that Tesla has been conducting test drives of the Cybercab along the main building of the factory over the past weeks. Notably, a modified gaming joystick is used for manual interventions during these tests.
<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">Cybercab News from Giga Texas!<a href="https://twitter.com/Tesla?ref_src=twsrc%5Etfw">@Tesla</a> has been testing &amp; driving the Cybercab around the factory site over the past couple of weeks, including drive tests on the west side along the length of the main factory as shown in this short video clip. Additional testing has also been… <a href="https://t.co/4S7hyGcIwx">pic.twitter.com/4S7hyGcIwx</a>
&mdash; Joe Tegtmeyer &#x1f680; &#x1f920;&#x1f6f8;&#x1f60e; (@JoeTegtmeyer) <a href="https://twitter.com/JoeTegtmeyer/status/1861443943923167260?ref_src=twsrc%5Etfw">November 26, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also:&nbsp;<a href="https://www.benzinga.com/markets/24/11/42207185/tesla-sweetens-referral-program-allowing-customers-to-earn-up-to-10000-as-elon-musks-ev-giant-races-to-500k-q4-delivery-target?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Tesla Sweetens Referral Program, Allowing Customers To Earn Up To $10,000</a>
Additional tests, including water ingress tests, are reportedly being carried out at&nbsp;the west end-of-line facility and&nbsp;other areas around Giga Texas. A significant&nbsp;amount of production equipment has&nbsp;been spotted at the staging lot, hinting at a potential new production line.
During the Q3 2024 earnings&nbsp;call,&nbsp;Elon Musk&nbsp;mentioned that Tesla aims for&nbsp;<a href="https://www.benzinga.com/24/11/42131163/tesla-ceo-elon-musk-attempts-to-temper-down-expectations-of-30k-optimus-or-cybercab-soon">volume production of the Cybercab</a>&nbsp;by 2026, with initial production possibly starting in 2025. The company plans to&nbsp;produce at least 2 million&nbsp;units annually.
Why It Matters: The testing of the Cybercab at Giga Texas marks a significant step in&nbsp;<a href="https://www.benzinga.com/news/24/10/41284847/tesla-reveals-two-seater-cybercab-that-drives-itself">Tesla&#8217;s unveiling</a>&nbsp;of its two-seater robotaxi earlier this year.
The Cybercab, priced under $30,000, is part of Tesla&#8217;s strategy to revolutionize urban transportation with autonomous vehicles. This comes at a time when there is skepticism from industry rivals like&nbsp;Lucid Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LCID#NASDAQ">LCID</a>), whose CEO Peter Rawlinson <a href="https://www.benzinga.com/news/24/10/41505138/lucid-ceo-throws-cold-water-on-teslas-robotaxi-vision-says-self-driving-cars-wont-happen-till-the-20">doubts the near-term feasibility</a> of self-driving cars.
In pursuit of this goal, Tesla is actively recruiting top talent to enhance its teleoperation capabilities for the Cybercab and other projects, as reported in&nbsp;<a href="https://www.benzinga.com/24/11/42159490/elon-musks-tesla-hunts-top-talent-to-develop-software-for-robotaxi-optimus-robot-teleoperation-2">recent initiatives</a>.
Price Action: Tesla stock closed at $332.89 on Wednesday, down 1.6% for the day. In after-hours trading, the stock increased slightly by 0.5%. Year to date, Tesla&#8217;s stock has gained 34%, according to <a href="https://pro.benzinga.com/dashboard" target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>.
The consensus rating from analysts is "Neutral" for the Tesla stock, according to data from Benzinga Pro. The highest price target is $400, while the consensus price target is 232.20, implying a 30% downside.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/quote/TSLA/analyst-ratings"><img loading="lazy" decoding="async" width="948" height="350" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/28040437/Tesla-ratings.jpg" alt="" class="wp-image-668925" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/28040437/Tesla-ratings.jpg 948w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/28040437/Tesla-ratings-300x111.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/28040437/Tesla-ratings-768x284.jpg 768w" sizes="(max-width: 948px) 100vw, 948px" /></a></figure>
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/tech/24/11/42229340/tesla-cybertruck-crash-in-california-claims-3-lives-leaves-1-seriously-injured">Tesla Cybertruck Crash In California Claims 3 Lives, Leaves 1 Seriously Injured</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Tesla

LCID

Tesla Cybercab Spotted Testing In Giga Texas Facility

Investors are eyeing a potential surge in&nbsp;Nvidia Corp.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) stock, with analysts predicting a significant rise in the early days of 2025. The anticipation is fueled by expectations surrounding CEO&nbsp;Jensen Huang&#8216;s <a href="https://www.benzinga.com/news/24/10/41227135/next-gen-nvidia-gpus-could-be-revealed-at-ces-2025-what-you-need-to-know">keynote address at the event</a>.
What Happened: Analysts at&nbsp;Citi&nbsp;have placed Nvidia on a &#8220;positive catalyst watch&#8221; for the upcoming 90 days, Business Insider <a href="https://markets.businessinsider.com/news/stocks/nvidia-stock-price-positive-catalyst-watch-january-2025-ces-event-2024-11">reported</a> on Thursday. The firm predicts the chipmaker&#8217;s shares could climb by 27%, reaching a target price of $175. This forecast comes as Huang prepares for his keynote at CES 2025, scheduled&nbsp;from Jan.7 to Jan.10. Huang will&nbsp;deliver the opening keynote on&nbsp;Jan. 6, followed by a Q&amp;A&nbsp;session for financial analysts on&nbsp;Jan. 7, according to Citi.
Citi analyst&nbsp;Atif Malik&nbsp;forecasts that Nvidia&#8217;s profit margin will bottom out in the April quarter, with an upward trend expected thereafter. The company is anticipated to address AI robotics demand in sectors like warehouses, manufacturing, and humanoid robots. 
See Also:&nbsp;<a href="https://www.benzinga.com/markets/commodities/24/11/42164230/amid-trumps-drill-baby-drill-pledge-strategist-predicts-us-oil-supply-will-see-marginal-increase-does-the-world-need-that-much-oil?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Amid Trump&#8217;s &#8216;Drill Baby, Drill&#8217; Pledge, Strategist Predicts US Oil Supply Will See &#8216;Marginal&#8217; Increase:&#8217;Does The World Need That Much Oil?&#8217;</a>
Citi has maintained a &#8220;Buy&#8221; rating on Nvidia shares, raising its price target from $170 to $175 following the company&#8217;s third-quarter earnings release. Nvidia shares have surged 176% year-to-date, driven by strong demand for its AI GPU chips.
Why It Matters: Nvidia&#8217;s recent financial performance has been impressive, with the company surpassing third-quarter revenue and earnings per share estimates. The revenue of $35.1 billion, was a 94% increase year-over-year, beating the Street consensus estimate of $33.12 billion. 
Additionally, the CES 2025 event is expected to be a platform for Nvidia to potentially reveal its next-generation GPUs. Rumors suggest that Nvidia <a href="https://www.benzinga.com/news/24/10/41227135/next-gen-nvidia-gpus-could-be-revealed-at-ces-2025-what-you-need-to-know">might unveil updates </a>about its RTX 50 series, including desktop GPUs based on the Blackwell architecture. This anticipated announcement could further bolster Nvidia&#8217;s market position and stock performance.
Price Action: Meanwhile, as per <a href="https://pro.benzinga.com">Benzinga Pro data</a>, Nvidia has a consensus price target of $170.56 based on the ratings of 40 analysts. The high is $220 issued by Rosenblatt while the low is $120 issued by New Street Research. 
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42196217/will-gamestop-amc-follow-microstrategy-rumble-into-bitcoin?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Will GameStop, AMC Follow MicroStrategy, Rumble Into Bitcoin?</a></li>
</ul>
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Image via Shutterstock

Analyst Color

Analyst Ratings

Nvidia's Next Big Catalyst? Analyst Sees Jensen Huang-Led Company's Stock Jumping 27% By Early 2025

<h3>Companies Reporting Before The Bell</h3>
• Rush Street Interactive (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RSI#NYSE">RSI</a>) is expected to report quarterly earnings at $0.13 per share on revenue of $304.70 million. 
<h3>Companies Reporting After The Bell</h3>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Earnings

Earnings Scheduled For November 28, 2024

Pony AI (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PONY#NASDAQ">PONY</a>) CEO James Peng emphasized the company&#8217;s strategic focus on supply chain diversification and international market expansion following its Nasdaq debut, as the autonomous driving technology firm <a href="https://www.benzinga.com/news/ipos/24/11/42228125/pony-ai-stock-falls-over-7-after-ipo-pricing-at-13-rebounds-nearly-3-in-after-hours">navigates ongoing U.S.-China tensions</a>.
What Happened: &#8220;For us, it&#8217;s nothing new. We have dealt with this for quite some time already,&#8221; Peng <a href="https://www.bloomberg.com/news/videos/2024-11-28/pony-ai-looking-outside-us-to-avoid-tensions-ceo-says-video?srnd=phx-technology">told</a> Bloomberg Television on Thursday, addressing potential chip export restrictions. 
&#8220;Our strategy was and remains to be, we will diversify our supply chain,&#8221; Peng stated. &#8220;As more and more manufacturing of chips are coming out of China or rest of the world, we&#8217;ll try to have more diversified supply chain to further de-risk from geopolitical tensions.&#8221;
The company plans to strengthen its presence in markets outside the United States, particularly in South Korea, Singapore, and the Middle East.
See Also: <a href="https://www.benzinga.com/news/legal/24/11/42229617/microsofts-xbox-game-store-for-android-ready-to-go-live-says-executive-but-legal-standoff-with-google-halts-launch">Microsoft&#8217;s Xbox Game Store For Android &#8216;Ready To Go Live,&#8217; Says Executive, But Legal Standoff With Google Halts Launch</a>
Why It Matters: Despite <a href="https://www.benzinga.com/news/ipos/24/11/42228125/pony-ai-stock-falls-over-7-after-ipo-pricing-at-13-rebounds-nearly-3-in-after-hours">opening at the IPO price of $13</a>, Pony AI shares closed their first trading day at $12.00, down 7.69%. The stock showed signs of recovery in after-hours trading, climbing 2.75% to $12.33.
Pony AI, which debuted on the Nasdaq amid U.S.-China tensions, globally competes with leaders like Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), Waymo part of Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>), and General Motors Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>)-backed Cruise in the autonomous driving space. 
Tesla is advancing its robotaxi ambitions with its FSD fleet, while Waymo operates commercial services in Phoenix and San Francisco, with plans for Los Angeles. Cruise is scaling urban operations, and players like Amazon.com Inc.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) Zoox and Aurora Innovation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AUR#NASDAQ">AUR</a>) target niche solutions.
With over 250 robotaxis and 190 robotrucks in China, Pony AI seeks to reduce reliance on single markets, focusing on South Korea, Singapore, and the Middle East to diversify and counter geopolitical risks.
Goldman Sachs, Merrill Lynch, and Deutsche Bank are serving as lead underwriters for the IPO, which is <a href="https://www.benzinga.com/news/ipos/24/11/42228125/pony-ai-stock-falls-over-7-after-ipo-pricing-at-13-rebounds-nearly-3-in-after-hours">scheduled to close on Friday</a>.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/24/11/42229424/century-therapeutics-stages-highest-single-day-move-in-11-months-as-casdin-capital-bumps-its-stake-to-54">Century Therapeutics Stages Highest Single Day Move In 11 Months As Casdin Capital Bumps Its Stake To 5.4%</a></li>
</ul>
Photo courtesy: Shutterstock
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

AMZN

GOOG

GOOGL

PONY

China's Robotaxi Firm Pony AI Looks To Diversify Supply Chain After Nasdaq Debut, Growing Competition With Tesla, Waymo, And Amazon

Amid rising fears of a new trade war between the U.S. and China, China&#8217;s state media have praised several American companies for their strong partnerships with Chinese counterparts. This development comes as tensions reminiscent of&nbsp;Donald Trump&#8217;s&nbsp;return to presidency resurface.
What Happened: China&#8217;s state-owned Global Times has commended companies such as Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), Starbucks Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NASDAQ">SBUX</a>), and HP Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HPQ#NYSE">HPQ</a>) for their collaborative efforts with Chinese partners, according to a Reuters report on Thursday. The publication urged U.S. politicians to consider the willingness of American businesses to engage in economic cooperation by formulating appropriate policies.
In addition, the&nbsp;China Daily&nbsp;highlighted&nbsp;Morgan Stanley&nbsp;for obtaining regulatory approval to expand its operations in China, underscoring the interest of foreign financial firms in the Chinese market. This praise coincides with Trump&#8217;s announcement of&nbsp;a <a href="https://www.benzinga.com/government/regulations/24/11/42213610/hasbro-best-buy-brace-as-trumps-tariffs-loom-could-retail-margins-hit-rock-bottom">10% tariff on Chinese&nbsp;goods, </a>aimed at addressing the opioid crisis in the U.S.
See Also:&nbsp;<a href="https://www.benzinga.com/24/11/42219544/trump-names-china-hawk-jamieson-greer-as-pick-for-trade-representative?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Names China Hawk Jamieson Greer As Pick For Trade Representative</a>
During Trump&#8217;s first term, Chinese media coverage was closely monitored by corporate executives for indications of U.S. firms&#8217; standing. Despite threats of an &#8220;Unreliable Entity List,&#8221; China has not fully implemented it, focusing instead on companies involved in arms sales to Taiwan.
Why It Matters: The recent commendation of U.S. firms by Chinese state media comes in the context of ongoing diplomatic efforts to prevent a trade war. On Nov. 13,&nbsp;<a href="https://www.benzinga.com/startups/24/11/41944793/china-pushes-for-win-win-as-u-s-tariff-threat-looms-what-it-means-for-global-markets">China&#8217;s Ministry of Commerce</a>&nbsp;expressed a desire for &#8220;win-win cooperation&#8221; with the U.S., even as the Trump administration considered imposing tariffs as high as 60% on Chinese imports.
Recently,&nbsp;Tim Cook, CEO of&nbsp;Apple, attended the&nbsp;<a href="https://www.benzinga.com/news/24/11/42182417/tim-cook-joins-us-executives-to-attend-china-expo-as-donald-trump-threatens-extra-tariffs-on-sino-goods">China International Supply Chain Expo</a>&nbsp;on Nov. 26. Cook&#8217;s visit, along with other American business leaders, underscores the significance of the Chinese market for U.S. companies amid potential trade tensions.
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/government/regulations/24/11/42144915/china-unveils-global-ai-governance-committee-with-alibaba-cloud-founder-at-the-helm?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">China Unveils Global AI Governance Committee With Alibaba Cloud Founder At The Helm</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 Wikimedia Commons

China's State Media Commends Apple, Tesla, Starbucks For Collaboration Amid Renewed Trade War Tensions

Major U.S. indices declined to close lower on Wednesday as the markets headed into the Thanksgiving holiday. Banks, post offices, shipping services, stock markets and all the other over-the-counter markets like bond markets will be closed on Thursday.
What Happened: Despite the holiday, Dow Jones futures will continue trading over the day. Stock exchanges worldwide including Shanghai, Hong Kong, Tokyo, Mumbai, and London would continue to operate. Also, U.S. stock exchanges will re-open on Friday to close early by 1:00 p.m. ET. 
Additionally, Walmart, Target and Costco stores will be closed because of the festive celebrations.
Thanksgiving week tends to be historically bullish. However, the S&amp;P 500 Index has gained 0.98% in the last five days, but the Nasdaq 100 Index has slipped by 0.15% in the same period. Russell 2000 Index and NYSE Composite Index on the other hand rose by 4.06% and 2.33% respectively in the last five sessions.
Also read: <a href="https://www.benzinga.com/personal-finance/24/11/41869557/can-you-guess-how-much-the-average-retiree-spends-per-month-hint-its-likely-more-than-youd-think" target="_blank" rel="noreferrer noopener">Can You Guess How Much the Average Retiree Spends Per Month? Hint: It's Likely More Than You'd Think!</a>
Are Banks Open?
Major financial institutions including Wells Fargo, Bank of America, JPMorgan Chase, and TD Bank will close their branches for the festival.
Federal Reserve banks will also shut operations for the holiday. Customers should verify specific branch hours through their bank's website or mobile app.
Significance Of The Holiday
Thanksgiving Day is an annual national holiday in the United States and Canada commemorating the harvest and the blessings from the past year.
<ul>
<li>Read next: <a href="https://www.benzinga.com/general/market-summary/24/11/42206673/trumps-running-mate-vice-president-pick-and-venture-capitalist-jd-vance-holds-etfs-bitcoin-and-more-here-is-a-look-at-his-portfolio">JD Vance&#8217;s Investment Playbook Has Bitcoin And ETFs: Here&#8217;s What Else The VP-Elect Is Betting On</a></li>
</ul>
Image Via Shutterstock

Thanksgiving Day 2024: Is Stock Market Open Today? A Quick Guide To Markets, Banking Hours And What's Closed

Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) has developed its Xbox game store for Android but remains unable to launch the service due to ongoing legal complications, the company revealed Wednesday.
What Happened: Xbox executive Sarah Bond explained that while the game store functionality is complete, a recent court order preventing changes to Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) subsidiary Google&#8217;s Play Store has halted its implementation.
In a Bluesky <a href="https://bsky.app/profile/bondsarahbond.bsky.social/post/3lbxhvggma32k">post</a>, Bond noted the store is &#8220;ready to go live&#8221; but awaits a final court decision.
The delay stems from a temporary administrative stay granted by Judge James Donato in a case challenging Google&#8217;s app store monopoly. Google maintains that Microsoft has always been able to offer game purchases through its Android app but has chosen not to do so.
See Also: <a href="https://www.benzinga.com/trading-ideas/movers/24/11/42228849/dogs-cats-and-frogs-cryptos-wildest-winners-in-2024-the-unexpected-tokens-turning-pocket-change-into-fortunes">Dogs, Cats, And Frogs — Crypto&#8217;s Wildest Winners In 2024: The Unexpected Tokens Turning Pocket Change Into Fortunes</a>
The standoff highlights ongoing tensions in the mobile app ecosystem, with Microsoft seeking more flexibility in-app distribution. The company&#8217;s Xbox App already offers cloud gaming features, but direct game purchases remain blocked.
Google spokesperson Dan Jackson argued that the court order and rushed implementation could compromise the Play Store&#8217;s security infrastructure, according <a href="https://www.theverge.com/2024/11/27/24307867/microsoft-google-xbox-game-store-android-purchase-games">to</a> The Verge report. Microsoft has not specified exact barriers preventing the store&#8217;s launch beyond the legal constraints.
Microsoft and Google did not immediately respond to <a href="https://pro.benzinga.com/dashboard">Benzinga&#8217;s</a> request for a statement.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Why It Matters: This development comes amid broader regulatory scrutiny of big technology companies. The U.S. Federal Trade Commission is reportedly <a href="https://www.benzinga.com/news/legal/24/11/42229225/microsoft-faces-federal-investigation-into-cloud-and-ai-practices-amid-antitrust-scrutiny-report">investigating Microsoft&#8217;s market practices</a> in cloud computing and artificial intelligence, signaling increased regulatory attention on tech giants&#8217; competitive strategies.
Google&#8217;s legal battle centers around Epic Games&#8216; allegations of monopolistic practices in its Android Play Store, where the tech giant charges a 30% commission on in-app purchases. Epic Games, the maker of Fortnite, initiated the lawsuit after its app was removed from the <a href="https://www.benzinga.com/news/24/10/41414905/google-gets-temporary-relief-in-epic-games-lawsuit-play-store-to-remain-closed-to-competitors-for-no">Play Store in 2020 for bypassing Google's payment system</a>. 
Epic claimed that the commission stifles competition and inflates costs for developers and consumers. A jury ruled last year that Google had illegally monopolized app distribution and payment systems on Android, prompting a court order for significant changes to the Play Store&#8217;s structure.
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>.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/24/11/42229130/elon-musks-x-objects-to-sale-of-conspiracy-theorist-alex-joness-infowars-accounts-to-the-onion-claims-ownership-over-joness-social-media">Elon Musk&#8217;s X Objects To Sale Of Infowars Accounts To The Onion, Claims Ownership Over Alex Jones&#8217;s Social Media</a></li>
</ul>
Photo courtesy: Shutterstock 
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Gaming

Microsoft's Xbox Game Store For Android 'Ready To Go Live,' Says Executive, But Legal Standoff With Google Halts Launch

Joe Rogan has become one of the world's most successful podcasters in recent years, with influential figures like tech mogul Elon Musk, boxing legend Mike Tyson, renowned whistleblower Edward Snowden, and President-elect Donald Trump appearing on his &#8220;The Joe Rogan Experience&#8221; show.&nbsp;
But aside from a plethora of topics he enjoys discussing, Rogan has also exhibited significant interest in Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), the world's largest cryptocurrency, and even holds some in his portfolio.&nbsp;
What happened: Way back in April 2014, Rogan publicly shared details of his Bitcoin address. 
Looking up the address on <a href="https://mempool.space/address/13hc7PPVya2afSweLWKLSPZVtUnavW5sSK">mempool</a>—a site that tracks Bitcoin transactions and block movements 24&#215;7—revealed a balance of 5.243 BTCs, translating to $502,011 at current market prices.&nbsp;
The fascinating bit was that Rogan hasn&#8217;t spent any Bitcoin in over a decade. Exactly 10 years ago, the value of his stash was $1,645, reflecting a mammoth 30417.4% upside.
Analysis of the balance history revealed a gradual increase in holdings beginning in late April, around the time he went public with his address.
By December of the same year, the balance had risen to 5, after which it began to plateau. Since then, it stabilized around the 5.24 level.&nbsp;
See Also: <a href="https://www.benzinga.com/trading-ideas/movers/24/11/42228464/ethereum-rally-gets-overshadowed-by-searing-gains-in-cheaper-plays-why-are-ens-and-etc-soaring-today">Ethereum Rally Gets Overshadowed By Searing Gains In Cheaper Plays: Why Are ENS And ETC Soaring Today?</a>
While HODLing for such long periods could imply Rogan's conviction on Bitcoin's potential, other observers had different explanations.&nbsp;
Bitcoin technologist Jameson Lopp said in a February X post, "How much you wanna bet he lost the key?"
<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">Joe&#39;s got 5 coins sitting in an address that was never spent from after a decade. How much you wanna bet he lost the key?<a href="https://t.co/JdilMGpTFI">https://t.co/JdilMGpTFI</a> <a href="https://t.co/nMux3XpAGq">pic.twitter.com/nMux3XpAGq</a>
&mdash; Jameson Lopp (@lopp) <a href="https://twitter.com/lopp/status/1754860506656252150?ref_src=twsrc%5Etfw">February 6, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Another user, Daniel Brr, urged Rogan to hand over the Bitcoins to charity if the amount isn't too significant for him.
"Seems like he just forgot people gave him BTC at that address and doesn&#8217;t care either way, so I think it would be better to give it to charity than eventually losing track of it," Brr added.
<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">Joe, if you&#39;re going to let 5 bitcoin sit in the this wallet forever and don&#39;t really care, because $200,000 is basically an uninteresting amount of pocket change to you, I think you should give it to charity (assuming you still have the keys). <a href="https://t.co/MQ6lwXE0GF">https://t.co/MQ6lwXE0GF</a>
&mdash; Daniel Ƀrrr (@csuwildcat) <a href="https://twitter.com/csuwildcat/status/1754862188345369039?ref_src=twsrc%5Etfw">February 6, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Why It Matters: While Rogan may be unmindful of his Bitcoin stash, his faith in the apex cryptocurrency hasn't shaken.&nbsp;&nbsp;
In an episode of The Joe Rogan Experience podcast with OpenAI co-founder Sam Altman, Rogan <a href="https://www.benzinga.com/markets/cryptocurrency/23/10/35139978/joe-rogan-tells-sam-altman-that-bitcoin-can-become-a-universal-viable-currency-admits-cbdc">called Bitcoin the "real fascinating cryptocurrency</a>" and one with the most likelihood of becoming a "universal viable currency."
Rogan <a href="https://www.benzinga.com/markets/cryptocurrency/23/09/34821113/if-you-had-invested-100-in-bitcoin-when-joe-rogan-first-mentioned-it-on-his-podcast-10-yea">first mentioned Bitcoin</a> on his podcast more than 10 years ago, in 2013. At that time, the digital asset traded at $123. The rest, as they say, is history.
Price Action: At the time of writing, Bitcoin was trading at $95,524.55, up 2.77% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>.&nbsp;
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/24/11/42228264/crypto-analyst-flags-convertible-debt-induced-liquidation-risk-to-michael-saylors-microstrategy">Crypto Analyst Flags Convertible Debt-Induced Liquidation Risk To Michael Saylor&#8217;s MicroStrategy</a></li>
</ul>

Joe Rogan's Bitcoin Pile Has Grown Over 30000% In Value, But He Hasn't Sold: Conviction-Based HODLing Or Has The Podcast King Lost His Keys?

Shares of Century Therapeutics Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IPSC#NASDAQ">IPSC</a>) zoomed by 20.74% to $1.63 per share on Wednesday, which is the highest price move in nearly a month since Oct. 1. The shares also rose the most in over 11 months since Dec. 6, 2023, in a single day.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="251" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/28011655/century-chart-1024x251.png" alt="" class="wp-image-668715" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/28011655/century-chart-1024x251.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/28011655/century-chart-300x74.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/28011655/century-chart-768x188.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/28011655/century-chart-1536x376.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/28011655/century-chart.png 1738w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Also read: <a href="https://www.benzinga.com/general/market-summary/24/11/42212364/trumps-tariff-threat-to-canada-may-disrupt-oil-markets-inflate-prices-would-likely-raise-the-price-of-fuels-says-analyst">Trump&#8217;s Tariff Threat To Canada May Disrupt Oil Markets, Inflate Prices: &#8216;Would Likely Raise The Price Of Fuels,&#8217; Says Analyst</a>
What Happened: On Wednesday, Casdin Capital acquired an additional 1,380,000 shares in Century Therapeutics raising its stake by nearly 43% in the biotechnology company, as per an SEC filing.
After the transaction, Casdin Capital owns a total of 4,592,316 shares, or 5.4% in Century Therapeutics. According to the filing, Century shares were acquired for $1.35 apiece. Century Therapeutics represents 0.12% of Casdin&#8217;s portfolio after the transaction.
Why It Matters: Century shares jumped by nearly 21%, the most in a single day since Dec. 6, 2023, when it had jumped by 36% after the transaction.
Casdin Capital, LLC, a New York-based investment firm, specializes in biotechnology investments. With a $1.5 billion equity portfolio, its top holdings include BioLife Solutions Inc (BLFS) and Sarepta Therapeutics Inc (SRPT).
Image via Unsplash
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/11/42186167/michael-saylors-microstrategy-convertible-notes-to-buy-bitcoin-offer-no-interest-so-why-are-investors-rushing-to-buy-them" target="_blank" rel="noreferrer noopener">Michael Saylor's MicroStrategy Convertible Notes To Buy Bitcoin Offer No Interest, So Why Are Investors Rushing To Buy Them?</a></li>
</ul>

IPSC

Century Therapeutics Stages Highest Single Day Move In 11 Months As Casdin Capital Bumps Its Stake To 5.4%

In a tragic incident early Wednesday, a&nbsp;Tesla Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) Cybertruck crashed in Piedmont, California, resulting in three fatalities and one serious injury. The vehicle reportedly ignited after the crash, prompting a rapid response from local authorities.
What Happened: The accident occurred around 3:10 a.m. as the occupants were returning from an event, <a href="https://apnews.com/article/tesla-cybertruck-piedmont-california-5d5b82dfffe7db70a2b1c3d4863e3d69">reported</a> the Associated Press,
Piedmont Police Chief&nbsp;Jeremy Bowers&nbsp;suggested that excessive speed might have been&nbsp;a factor in the single-vehicle&nbsp;crash. A fellow attendee, traveling separately, managed to rescue the surviving victim from the burning vehicle.
The identities of the victims have not been disclosed to protect family privacy. Despite police officers&#8217; extinguishers being ineffective, the fire department managed to extinguish the blaze quickly.
Piedmont Fire Chief Dave Brannigan noted that the rapid extinguishing indicated the Cybertruck&#8217;s lithium-ion battery likely did not catch fire, describing it as a typical car fire.
Tesla did not immediately respond to <a href="http://pro.benzinga.com">Benzinga&#8217;s</a> request for comment. 
See Also:&nbsp;<a href="https://www.benzinga.com/markets/24/11/42207185/tesla-sweetens-referral-program-allowing-customers-to-earn-up-to-10000-as-elon-musks-ev-giant-races-to-500k-q4-delivery-target">Tesla Sweetens Referral Program, Allowing Customers To Earn Up To $10,000 As Elon Musk&#8217;s EV Giant Races To 500K Q4 Delivery Target</a>
Despite <a href="https://www.benzinga.com/tech/24/11/41934708/tesla-recalls-over-2400-cybertrucks-in-us">recent recalls of the Cybertruck</a>, Chief Bowers stated there was no evidence of mechanical failure causing the accident. The Cybertruck&nbsp;has been recalled six times&nbsp;over the past year for various safety issues, including a recent recall on November 5 due to an electric inverter fault.
Why It Matters: This incident is the latest in a series of accidents involving Tesla vehicles.
In March,&nbsp;<a href="https://www.benzinga.com/news/24/03/37473383/tesla-ceo-elon-musks-pins-cybertruck-accident-at-iconic-beverly-hills-hotel-to-the-steel-behemoths-s">a Cybertruck crashed</a>&nbsp;into the entrance of The Beverly Hills Hotel, with&nbsp;CEO Elon Musk&nbsp;attributing the accident to the vehicle&#8217;s sports car-like agility.
In July, a&nbsp;<a href="https://www.benzinga.com/news/24/07/39685198/severely-damaged-tesla-cybertruck-involved-in-collision-turns-up-for-auction">severely damaged Cybertruck</a>&nbsp;was put up for auction after a high-velocity collision.
Additionally,&nbsp;<a href="https://www.benzinga.com/news/24/10/41320744/tesla-crash-kills-4-after-ev-erupts-in-flames">another fatal crash</a>&nbsp;in France involved a Tesla vehicle that caught fire, resulting in four deaths.
The National Highway Traffic Safety Administration (NHTSA)&nbsp;<a href="https://www.benzinga.com/news/24/10/41398764/nhtsa-opens-probe-into-2-4m-tesla-vehicles-after-reports-of-4-crashes-with-fsd-involved">has opened an investigation</a>&nbsp;into nearly 2.4 million Tesla vehicles following reports of crashes involving the full self-driving system.
Price Action: Tesla stock closed at $332.89 on Wednesday, down 1.6% for the day. In after-hours trading, the stock increased slightly by 0.5%. Year to date, Tesla's stock has gained 34%, according to&nbsp;<a href="https://pro.benzinga.com/dashboard" target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>.
Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/general/space/24/11/42208569/spacexs-starlink-direct-to-cell-service-gets-commercial-license-from-fcc-heres-what-it-means">SpaceX&#8217;s Starlink Direct-To-Cell Service Gets Commercial License From FCC: Here&#8217;s What It Means</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Tesla Cybertruck Crash In California Claims 3 Lives, Leaves 1 Seriously Injured

Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) is confronting a federal investigation that could reshape the technology industry&#8217;s competitive landscape, with regulators examining the company&#8217;s potentially anticompetitive practices in cloud computing and <a href="https://www.benzinga.com/24/11/41986592/microsoft-cloud-is-reportedly-ftc-lina-khans-next-target-investigation-centered-around-alleged-anticompetitive-behavior">artificial intelligence markets</a>.
What Happened: The U.S. Federal Trade Commission has initiated a broad investigative effort focusing on Microsoft&#8217;s licensing strategies and market conduct, particularly within its Azure cloud service ecosystem. Reuters report, which cited sources, reveals that the probe extends beyond traditional technological assessments, delving into intricate questions about market power and consumer choice.
The probe, approved by FTC Chair Lina Khan <a href="https://www.benzinga.com/24/11/41986592/microsoft-cloud-is-reportedly-ftc-lina-khans-next-target-investigation-centered-around-alleged-anticompetitive-behavior">before her anticipated departure</a>, centers on allegations that Microsoft is exploiting its market power to restrict customer mobility between cloud platforms.
Tech industry observers note the investigation represents a significant moment for Microsoft, traditionally viewed as more collaborative compared to other Big Tech entities. 
Microsoft did not immediately respond to <a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga</a>'s request for comment.
The investigation emerges against a backdrop of intensifying regulatory <a href="https://www.benzinga.com/tech/24/11/42086154/apple-to-argue-for-dismissal-of-doj-antitrust-case-over-alleged-us-smartphone-market-domination">scrutiny of Big Tech companies</a>. While firms like Meta Platforms (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), and Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) have faced similar antitrust challenges, Microsoft has traditionally navigated these waters with greater apparent ease.
See Also: <a href="https://www.benzinga.com/24/11/42228090/bitcoin-ethereum-dogecoin-surge-as-traders-raise-risk-appetite-ahead-of-thanksgiving-analyst-says-eth-could-jump-to-highs-not-seen-since-late-2021">Bitcoin, Ethereum, Dogecoin Surge As Traders Raise Risk Appetite Ahead Of Thanksgiving: Analyst Sets Mid-Term Price Target For ETH At $6K</a>
What Happened: Regulatory challenges are emerging across multiple technological fronts, with NetChoice and other industry groups highlighting potential barriers that might prevent customers from seamlessly transitioning between cloud platforms. 
The timing of the probe adds complexity, occurring during a <a href="https://www.benzinga.com/news/24/11/41948486/biden-pledges-smooth-transition-to-trump-in-white-house-meeting">potential presidential transition</a> that could dramatically alter enforcement priorities. 
Price Action: Microsoft stock closed at $422.99 on Wednesday, down 1.17% for the day. In after-hours trading, the stock dipped further 0.24%. Year-to-date, Microsoft has gained 14.05%, according to <a href="https://www.benzinga.com/pro/" target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/24/11/42227958/mark-zuckerberg-and-trump-reportedly-met-at-mar-a-lago">Mark Zuckerberg And Trump Reportedly Met At Mar-A-Lago</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.

Legal

Lina Khan-Headed FTC Approves Probe Into Microsoft's Cloud And AI Practices Amid Antitrust Scrutiny: Report

Elon Musk's X, formerly Twitter, has filed an objection to the pending bankruptcy sale of Alex Jones&#8217;s Infowars accounts to the satirical news outlet The Onion.
What Happened: The objection was submitted on Monday as part of Jones's bankruptcy proceedings, over his false claims regarding the Sandy Hook Elementary School shooting.
His assets, including Infowars, are being sold off in the wake of a defamation lawsuit filed by the families of Sandy Hook victims, which led to a $1.5 billion verdict against him.
Musk's platform argued that its terms of service prevent the sale or transfer of Jones's X accounts without the company&#8217;s approval.
See Also: <a href="https://www.benzinga.com/24/11/42156013/bluesky-adds-millions-of-users-as-elon-musks-social-media-platform-faces-exodus-post-trump-win-here-are-a-few-starter-packs-to-help-you-get-going-on-latest-x-rival?itm_source=parsely-api">Bluesky Adds Millions Of Users As Elon Musk&#8217;s X Faces Exodus Post Trump Victory: Here Are A Few Starter Packs To Help You Level Up On The Platform</a>
While X does not oppose the sale of Infowars&#8217; content, it insists that it retains ownership of the accounts, which it says are not part of Jones&#8217;s assets in bankruptcy proceedings.&nbsp;
The bankruptcy judge is considering whether to approve the trustee&#8217;s selection of The Onion as the winning bidder for Infowars assets.
The Onion&#8217;s bid of $1.75 million in cash was chosen over First United American Companies (FUAC)&#8217;s $3.5 million offer, as it benefits Jones&#8217;s other creditors more.&nbsp;
FUAC has objected, alleging improper collusion. A hearing is set for next month to address the sale.
This development was first <a href="https://thehill.com/regulation/court-battles/5012284-elon-musk-x-alex-jones-infowars-sale-the-onion/">reported</a> by The Hill.
Subscribe to the <a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a> to get all the latest tech developments delivered to your inbox.
Why It Matters: The objection from X comes amid a series of challenges for the platform. Earlier this month, it was reported that <a href="https://www.benzinga.com/news/24/11/41698648/elon-musks-x-reportedly-hit-with-new-wave-of-layoffs-engineering-department-faces-major-cuts-amid-un">X faced another wave of layoffs</a>, particularly impacting its engineering department.
<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">X has seen a shift in its user base</a>, with Taylor Swift fans reportedly migrating to Bluesky following Musk&#8217;s support for President-elect Donald Trump.
Despite these challenges, <a href="https://www.benzinga.com/general/social-media/24/11/42022443/ibm-disney-and-other-large-advertisers-return-to-elon-musks-x-after-a-year-long-boycott-we-super-appreciate">major advertisers</a> like IBM and Disney have returned to X after a year-long boycott, signaling a potential recovery in brand trust.
Check out more of Benzinga's Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/trading-ideas/movers/24/11/42169194/joby-gets-toyotas-500m-dollar-lift-evtol-pioneer-making-new-highs?itm_source=parsely-api">Joby Gets Toyota&#8217;s $500M Dollar Lift: eVTOL Pioneer Making New Highs</a></li>
</ul>
Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.

Social Media

Elon Musk's X Objects To Sale Of Infowars Accounts To The Onion, Claims Ownership Over Alex Jones's Social Media

Bank of America Securities analyst Ashley Wallace downgraded the rating on Ermenegildo Zegna (ZGN – Research Report) to a Hold today, setting a pri...

Hold Rating on Ermenegildo Zegna Amid Luxury Sector Weakness and Revenue Challenges

Brunello Cucinelli: Fair Value Revealed

Ermenegildo Zegna reports results

Ermenegildo Zegna N.V. (ZGN) Q3 2024 Earnings Call Transcript

In a report released today, Chris Huang from UBS maintained a Hold rating on Ermenegildo Zegna (ZGN – Research Report), with a price target of $9.0...

Ermenegildo Zegna (ZGN) Gets a Hold from UBS

Bank of America Securities analyst Daria Nasledysheva maintained a Hold rating on Ermenegildo Zegna (ZGN – Research Report) today. The company's sh...

Bank of America Securities Reaffirms Their Hold Rating on Ermenegildo Zegna (ZGN)

Ermenegildo Zegna (ZGN) has released an update. The controlling shareholder of Ermenegildo Zegna Group, Monterubello, has acquired 913,000 shares a...

Ermenegildo Zegna's Shareholder Backs Growth with Major Stock Purchase

Burberry: Dismal Results But Wait For The Next Update

Analysts have been eager to weigh in on the Consumer Cyclical sector with new ratings on Ermenegildo Zegna (ZGN – Research Report) and Urban Outfit...

Analysts Conflicted on These Consumer Cyclical Names: Ermenegildo Zegna (ZGN) and Urban Outfitters (URBN)

Morgan Stanley initiated coverage of Ermenegildo Zegna (ZGN) with an Underweight rating and $7.20 price target The company is part-way through a st...

Comments

Ermenegildo Zegna

Notizie

Ultime notizie per Ermenegildo Zegna (NYSE:ZGN) Azioni

Le persone guardano anche

Notizie

PARTNER/COLLABORATORE

BENZINGA NEL MONDO