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Social media platform Threads, which is a part of Meta Platforms (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) is rolling out new search tools as it looks to compete with X and <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">fast-growing competitor Bluesky.</a>
What Happened: Threads, which like Bluesky, has been trending and gaining new subscribers as <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">people look for </a>alternatives to Elon Musk's X platform.
The Meta-owned company announced new search tools, which include the option to refine searches by a profile and date range. The update will roll out globally over the coming weeks, <a href="https://www.threads.net/@threads/post/DDFkqNuPil1">according </a>to the company.
"We're making it easier for you to search for specific posts here," the company said.
While the new search tools still pale in comparison to ways to find posts on X, Threads can better compete with Bluesky, according to a <a href="https://techcrunch.com/2024/12/02/threads-takes-on-bluesky-with-more-advanced-search/">report </a>from TechCrunch.
On Bluesky, users can search by user profiles and date ranges.
Prior to the latest Threads update, the platform offered basic search functions like using a keyword and then narrowing results based on top results or recent results.
Read Also: <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">X Vs. Threads Vs. Bluesky: Does Elon Musk&#8217;s Social Media Site Still Reign Supreme?</a>
Why It's Important: In October, Meta CEO Mark Zuckerberg said Threads had around 275 million monthly users, averaging around one million signups daily.
Bluesky has also seen strong growth in recent months with users looking for alternates to X since the 2024 election. Bluesky had around nine million users in October and has grown to around 24 million users, according to the report.
Outside of the new search tools, Threads recently made changes that included users being able to choose their default feed.
The focus on new features could show how serious Meta is about growing Threads and/or come as Bluesky is growing in the sector.
"Engagement is growing too, so we continue to be on track towards this becoming our next major social app," Zuckerberg said in October of Threads.
At the time, Meta Chief Financial Officer Susan Li also said there were plans to bring more features to Threads given the growth potential.
&#8220;We&#8217;re very focused on continuing to build out the sort of functionality of Threads over time and being responsive to what users tell us that they&#8217;re interest in," Li said.
META Price Action: Meta Platforms stock hit an all-time high of $614.20 Tuesday before closing up 3.51% to $613.65. The stock is up 77% year-to-date in 2024.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/24/12/42271676/fidelity-raises-valuation-of-elon-musks-x-but-its-still-worth-72-less-than-his-buyout-price">Fidelity Raises Valuation Of Elon Musk&#8217;s X, But It Remains 72% Below Buyout Price</a></li>
</ul>
Photo: Shutterstock

News

Social Media

Threads Takes On X, Bluesky With New Search Options: 'Making It Easier For You'

PSTG

Pure Storage Enters Collaboration With Kioxia To Addresses The Growing Demand For Scalable Storage Infrastructure

Gamers are spending more time watching gaming content than actually playing games, according to a new <a href="https://www.benzinga.com/general/gaming/24/08/40403494/gaming-industry-shows-signs-of-recovery-in-2024-report">report.</a>
The study, conducted by Midia Research (<a href="https://www.gamesindustry.biz/new-report-claims-gamers-spend-more-time-watching-videos-about-gaming-than-playing-games">via</a> GamesIndustry.biz), reveals that gamers average 8.5 hours weekly watching game-related videos on platforms like Alphabet Inc&#8216;s (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>) YouTube and Twitch, compared to 7.4 hours actively gaming.
See Also: &#8216;<a href="https://www.benzinga.com/24/12/42297564/we-are-not-considering-elden-ring-2-says-fromsoftwares-miyazaki">We Are Not Considering Elden Ring 2,&#8217; Says FromSoftware&#8217;s Miyazaki</a>
This trend presents a significant revenue opportunity for game publishers, the report suggests.
<h1 class="wp-block-heading">The Shift Toward Gaming Video Content</h1>
Midia&#8217;s findings show the growing dominance of video content in the gaming world. About 24% of console and PC players, along with 48% of &#8220;in-game buyers,&#8221; regularly consume game-related content, with the latter group identified as &#8220;high-spending gamers.&#8221; These numbers signal an untapped market within the gaming ecosystem.
According to Midia, game publishers are losing potential revenue to third-party platforms, particularly in advertising. This loss is significant at a time when the gaming industry faces challenges to sustain growth.
<h1 class="wp-block-heading">Reclaiming Engagement and Revenue</h1>
"It's time for game publishers to think about in-game video as something beyond marketing alone," said Rhys Elliott, games analyst at Midia Research. 
&#8221;By reclaiming video engagement, publishers have the potential to unlock new revenue streams, like advertising and drive growth,&#8221; he added.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/general/gaming/24/12/42270630/gta-6-fans-analyze-playlists-and-combat-ai-chaos-one-year-after-first-trailer">GTA 6 Fans Analyze Playlists And Combat AI Chaos, One Year After First Trailer</a></li>
</ul>
Photo: Shutterstock.

Gaming

General

GOOG

GOOGL

Gamers Now Watch More Than They Play — How Publishers Can Reclaim Lost Revenue: Report

Streaming giant Netflix Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) is set to release the highly anticipated second season of "Squid Game" and the show's director and star are sharing details ahead of the <a href="https://www.benzinga.com/general/entertainment/24/11/42199235/amazon-prime-vs-netflix-mrbeast-game-show-arrives-dec-19-squid-game-season-2-drops-1-week-later">Dec. 26 premiere.</a>
What Happened: Launched in 2021, <a href="https://www.benzinga.com/topic/squid-game">"Squid Game"</a> is the biggest series in Netflix history and turned into a pop culture phenomenon.
A second season hits the streaming platform on Dec. 26 and will be seven episodes, which is shorter than the nine in the first season.
Returning for the second season is the winner of the game in the first season, Seong Gi-hun (aka Player 456), portrayed on screen by Lee Jung-jae. Director and writer Hwang Dong-Hyuk also returns for the second season.
The second season features new characters and revolves around Gi-hun, who returns to the game three years after the competition to search for the people behind it and shut the game down for good, as reported by <a href="https://deadline.com/2024/12/squid-game-season-2-explained-hwang-dong-hyuk-lee-jung-jae-1236189235/">Deadline</a>. 
Characters competing for the prize this time include a former cryptocurrency influencer who loses a large amount of money for his subscribers and himself. The crypto influencer becomes a fugitive before joining the Squid Game competition, according to the report.
Another one of the 400-plus contestants in the games is a woman who made bad investments following the advice of the same cryptocurrency influencer taking part in the games.
In the interview with Deadline, Director Hwang as he is known said there is "greater scale" to the second season and new games for the contestants.
"The games are one of the biggest changes as well as the characters because, except for Gi-Hun, all of the characters that play the games are new so you're going to be able to see more endearing characters that you end up rooting for," Hwang said.
Hwang said Gi-Hun's revenge factor is a key message in the second season, but humanity's quest for making the world a better place could be a bigger theme.
"Does humanity have what it takes to change the course of the world, and can we truly let go of our greed, our desires in order to create a better world together?"
The director said the series is also somewhat political given the current state of the world being divided.
"There are so many things that divide us today, whether it's race, religion, language, the haves and the have nots, the generational divisions, and recently, with the very important vote that you have this week, we look at the political division, the left against the right, the conservatives against the progressives, Hwang said speaking days before the 2024 U.S. presidential election.
The director was asked <a href="https://www.benzinga.com/general/entertainment/24/06/39538239/squid-game-to-get-an-english-remake-netflix-award-winning-director-could-make-it-happen-rep">about the report</a> that director David Fincher is working on an English-language version of "Squid Game" and said he doesn't know anything official about this, but respects the director's work.
"I like his films so if he does, I'm excited and I'll look forward to it."
Read Also: <a href="https://www.benzinga.com/news/earnings/24/10/41391637/netflix-q3-earnings-revenue-beats-eps-tops-q4-guidance-projects-subscriber-boost-from-squid-game-nf">Netflix Q3 Earnings: Revenue Beats, EPS Tops, Q4 Guidance Projects Subscriber Boost From &#8216;Squid Game,&#8217; NFL, And Boxing</a> Why It's Important: The first season of "Squid Game" was watched by hundreds of millions of people on Netflix and helped the company boost its subscribers and host one of the most talked about shows in streaming history.
The first season was nominated for 14 Emmy Awards and earned critical praise.
Following the second season, a third and final season of the hit show will release in 2025. Director Hwang said the second and third seasons were written at the same time and both were produced simultaneously. The third season is currently in the post-production process, the director said.
Expectations are high for Netflix and the second season and the release, which comes around the Christmas holiday, could be a major catalyst for the stock with shares already nearing 52-week highs.
Netflix will also stream two National Football League games on Christmas, the day before the release of "Squid Game" season 2. This gives Netflix one of the biggest weeks in streaming history and could have the company the talk of the town at family get-togethers and holiday celebrations.
NFLX Price Action: Netflix stock closed at $902.17 on Tuesday versus a 52-week trading range of $445.73 to $908. Shares are up 93% year-to-date in 2024.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/general/entertainment/24/08/40487581/netflix-reveals-squid-game-video-game-with-32-player-party-royale-mode-can-you-make-it-thro">Netflix Reveals Squid Game Video Game With 32-Player Party Royale Mode: &#8216;Can You Make It Through Playtime Alive?&#8217;</a></li>
</ul>

Entertainment

Media

Trading Ideas

NFLX

'Squid Game' Season 2 Includes New Games, Contestant With A Crypto Background, Revenge Factor, Political Overtones

PROC

Procaps Group Reports Execution Of Key Strategic Transactions And Governance Updates

Brookfield Asset Management Reports Opening Of A New Office Hub In Paris

Cryptocurrency markets are trading lower on Tuesday, with altcoins continuing their strong performance.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Price&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>Gains +/-</td>
</tr>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td> $96,114.25</td>
<td>+0.8%</td>
</tr>
<tr>
<td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)</td>
<td> $3,616</td>
<td>+0.2%</td>
</tr>
<tr>
<td>Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)</td>
<td> $236.50</td>
<td>+3.2%</td>
</tr>
<tr>
<td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)</td>
<td> $0.4116</td>
<td>-2%</td>
</tr>
<tr>
<td>Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>)</td>
<td> $0.00002826</td>
<td>-2%</td>
</tr>
</tbody>
</table>
</figure>
Notable Statistics:
<ul>
<li>IntoTheBlock data shows large transaction volume increasing by 125.5% and daily active addresses growing by 28%. Transactions greater than $100,000 are up from 8,298 to 12,355 in a single day. Currently, there are no Bitcoin holders underwater.</li>
<li>Coinglass data reports 216,766 traders liquidated in the past 24 hours for $590.24 million</li>
<li>IntoTheBlock <a href="https://x.com/intotheblock/status/1863870874643791972">shows</a> Bitcoin long-term holders holding 12.45 million BTC—the lowest level since July 2022. Long-term holder balances have fallen by 9.8% this cycle, compared to 15% in 2021 and 26% in 2017.</li>
<li>CoinTelegraph <a href="https://x.com/Cointelegraph/status/1864029839470051456">noted</a> Binance topping crypto exchanges for Bitcoin deposits in 2024, with average daily deposits rising by around 2.8 BTC in 2024.</li>
</ul>
Notable Developments:
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42293950/donald-trump-may-announce-sec-chair-pick-tomorrow-report">Donald Trump May Announce SEC Chair Pick Tomorrow: Report</a></li>
<li><a href="https://www.benzinga.com/24/12/42297539/policy-formation-will-be-critical-experts-weigh-in-on-stablecoin-adoption">&#8216;Policy Formation Will Be Critical&#8217;: Experts Weigh In On Stablecoin Adoption</a></li>
<li><a href="https://www.benzinga.com/24/12/42282144/will-your-bitcoin-holdings-be-at-risk-if-trump-establishes-a-national-reserve-analyst-says-government-can-employ-carrot-and-stick-policy">Can Your Bitcoin Be Confiscated If Trump Establishes A National Reserve? Analyst Says Government Can Employ Carrot-And-Stick Policy</a></li>
<li><a href="https://www.benzinga.com/24/12/42282930/cleanspark-sheds-light-on-bitcoin-acquisition-strategy-says-investments-in-core-business-contribute-the-most-to-shareholder-value">CleanSpark CEO Zach Bradford Explains Why The Company Is Betting on Bitcoin Mining, Not Buying</a></li>
</ul>
Top Gainers:
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Price&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>Gains +/-</td>
</tr>
<tr>
<td>Reserve Rights (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/rsr/usd">RSR</a>)</td>
<td>&nbsp;$0.02091&nbsp;</td>
<td>+119.6%</td>
</tr>
<tr>
<td>Tron (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/trx/usd">TRX</a>)</td>
<td>&nbsp;$0.3077</td>
<td>+43.6%</td>
</tr>
<tr>
<td>JasmyCoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">JASMY</a>)</td>
<td>&nbsp;$0.04181</td>
<td>+40%</td>
</tr>
</tbody>
</table>
</figure>
Trader Notes: With Bitcoin prices trading relatively flat with negative bias, crypto chart analyst Ali Martinez <a href="https://x.com/ali_charts/status/1863948162697687254">advises</a> watching out for key support levels like $90,000. 
Crypto analyst Michaёl van de Poppe is awaiting a breakout for Bitcoin and is ready to buy if Bitcoin dips to $90,000.
<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">Still no breakout on <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a>, stuck in the range. If we hit the lower numbers around $90K, I&#39;ll be a buyer. <a href="https://t.co/CWUV3BgGBX">pic.twitter.com/CWUV3BgGBX</a>
&mdash; Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1864018766545186832?ref_src=twsrc%5Etfw">December 3, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Crypto trader Kevin <a href="https://x.com/Kev_Capital_TA/status/1864015235499139360">cautions</a> that Bitcoin&#8217;s current pattern is moving closer to breaking out either to the upside or the downside.
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42291096/coinbase-ceo-brian-armstrong-the-us-government-should-never-sell-bitcoin">Coinbase CEO Brian Armstrong: &#8216;The US Government Should Never Sell Bitcoin&#8217;</a></li>
</ul>
Image: Shutterstock

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

Cryptocurrency

$BTC

$DOGE

$ETH

$JASMY

$RSR

$SHIB

$SOL

$TRX

Bitcoin, Ethereum, Dogecoin Hold Steady, Trader Eyes Buying Opportunity If BTC 'Hits Lower Numbers Around $90,000'

The decrease in LTL tons per day was attributable to a 6.8% decrease in LTL shipments per day and a 1.2% decrease in LTL weight per shipment.&nbsp;
For the quarter-to-date period, LTL revenue per hundredweight decreased 1.2% as compared to the same period last year and LTL revenue per hundredweight, excluding fuel surcharges, increased 3.7% as compared to the same period last year.
Marty Freeman, President and Chief Executive Officer of Old Dominion, commented, "Our revenue results for November reflect the continued softness in the domestic economy as well as the impact of lower fuel surcharge revenue on our yields."

ODFL

Old Dominion Freight Line November Revenue Per Day Decrease 8.2% Y/Y Due To An 8.0% Decrease In LTL Tons Per Day And A Slight Decrease In LTL Revenue Per Hundredweight

The units are expected to commence trading on December 4, 2024 on the Nasdaq Global Market under the symbol "TAVIU."

IPOs

TAVIU

Tavia Acquisition Prices Initial Public Offering Of 10M Units At $10.00 Per Unit

Offerings

Ready Capital Prices Underwritten Public Offering Of $115M Of 9.00% Senior Notes Due 2029

The Board of Directors has approved a budget for 2025 exploration and development expenditures of C$1.2 to C$1.3 billion, which is designed to generate average annual production of 150,000 to 154,000 boe/d.&nbsp;

Baytex Sets 2025 Budget; Expects Majority Of Free Cash Flow To Be Generated In The Second Half Of The Year

Earnings

DSGX

Descartes Systems Q3 FY25 EPS $0.42 Up From $0.31 YoY, Sales $168.8M Up From $144.7M YoY

Intuitive Machines Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LUNR#NASDAQ">LUNR</a>) shares are trading lower in Tuesday&#8217;s after-hours session after the company announced a public offering and <a href="https://www.benzinga.com/pressreleases/24/12/g42302009/intuitive-machines-announces-launch-of-public-offering-of-its-class-a-common-stock-and-concurrent-">concurrent private placement</a>.
What Happened: After the market close on Tuesday, Intuitive Machines said it commenced an underwritten public offering of $65 million of its common stock. The company and a selling stockholder will grant the underwriters a 30-day option to purchase up to approximately $8.87 million of additional common stock. 
In connection with the offering, the company entered into an agreement to sell $10 million of its common stock to Boryung Corporation in a concurrent private placement.
Intuitive Machines expects to use any proceeds for general corporate purposes. The company <a href="https://www.benzinga.com/general/space/24/11/41977504/intuitive-machines-stock-volatile-on-q3-earnings-what-you-need-to-know">recently said</a> it had $89.6 million remaining in cash as of the end of the third quarter. 
Check This Out: <a href="https://www.benzinga.com/news/earnings/24/12/42302924/salesforce-q3-earnings-revenue-beat-eps-miss-free-cash-flow-up-30-ai-driving-groundbreaking-transformation-and-more">Salesforce Q3 Earnings: Revenue Beat, EPS Miss, Free Cash Flow Up 30%, AI Driving &#8216;Groundbreaking Transformation&#8217; And More</a>
Intuitive Machines made history in February when its moon lander Odysseus touched down on the surface of the moon, making Intuitive Machines the first private company to land on the moon. The mission marked the first time the U.S. had been on the moon since 1972.
Intuitive Machines&#8217; second lunar mission is targeting launch sometime in the first quarter. The company said it completed a vehicle propulsion system hot fire for the second lunar mission during the third quarter. 
In the earnings release, Intuitive Machines noted that it expects continued backlog expansion driven by potential upcoming awards including Near Space Network 1.2 / 1.3 Direct to Earth and LTVS Phase 2, as well as task orders for OMES and Near Space Network 2.2.
LUNR Price Action: <a href="http://benzinga.com/quote/lunr" target="_blank" rel="noreferrer noopener">Intuitive Machines shares</a> were down 10.25% at $12.70 at the time of publication Tuesday, according to <a href="http://pro.benzinga.com/" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>.
Photo: courtesy of Intuitive Machines.

SPACE

After-Hours Center

Movers

LUNR

Intuitive Machines Stock Falls After Hours: Here's Why

Box, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BOX#NYSE">BOX</a>) reported its third-quarter results after Tuesday's closing bell. Here's a look at the details <a href="https://www.benzinga.com/pressreleases/24/12/b42301797/box-reports-fiscal-third-quarter-2025-financial-results">from the report. </a>
The Details: Box reported quarterly earnings of 45 cents per share, which beat the analyst consensus estimate of 42 cents. Quarterly revenue came in at $276 million, which beat the consensus estimate of $275.17 million and is an increase over sales of $261.54 million from the same period last year.
<ul>
<li>Remaining performance obligations (RPO) as of Oct. 31, 2024, were $1.282 billion, a 13% increase year-over-year.</li>
<li>Billings for the third quarter of fiscal 2025 were $264.7 million, a 4% increase from billings for the third quarter of fiscal 2024 of $253.7 million. </li>
<li>Third-quarter billings were impacted by a roughly 100 basis point tailwind from FX versus the company&#8217;s prior expectations of 210 basis point tailwind.</li>
<li>Non-GAAP gross profit for the third quarter of fiscal 2025 was a record $226.1 million, or 81.9% of revenue. </li>
<li>Non-GAAP operating income in the third quarter of fiscal 2025 was a record $80.2 million, or 29.1% of revenue. </li>
</ul>
Read Next: <a href="https://www.benzinga.com/24/12/42298242/tiktok-shop-bags-more-than-100-million-in-black-friday-sales">TikTok Shop Bags More Than $100 Million In Black Friday Sales With Potential Ban Ahead</a>
&#8220;We delivered strong third-quarter financial results and unveiled the most transformational product line-up in Box history,&#8221; said Aaron Levie, CEO of Box. &#8220;Now businesses of all sizes will be able to realize the full value of their content and leverage the data inside their files to drive innovation, automate processes, and secure their most important information as we drive a new era of Intelligent Content Management.&#8221;
Outlook:&nbsp;Box sees fourth-quarter revenue of $279 million, versus the $278.544 million estimate, and adjusted earnings of 41 cents per share, in line with estimates.
BOX Price Action: According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, Box shares are down 4.13% after-hours at $33 at the time of publication Tuesday. 
Read More:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/24/12/42300548/art-cashins-lessons-cuban-crisis-trades-to-timeless-wall-street-wit">Art Cashin&#8217;s Lessons: Cuban Crisis Trades To Timeless Wall Street Wit</a></li>
</ul>
Photo: Courtesy of Box, Inc.

Guidance

Box Stock Dips After Narrow Q3 EPS, Revenue Beats: Details

Iron Mountain Prices Upsized Offering By Way Of Private Placement Of $1.2B Of Its 6.25% Senior Notes Due 2033

Management

Stewart Information Services Agrees With CEO Frederick Eppinger To Amend And Restate His Employment Agreement, Extending Term For Another Three Years Through End Of 2028

Buybacks

RUSHA

Rush Enterprises Board Approves New Stock Repurchase Program Of Up To An Aggregate Of $150M Of Its Shares Of Class A Common Stock

The price of the<a href="https://www.benzinga.com/money/ripple-xrp-price-prediction"> XRP Token</a> (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>) from Ripple continues to climb thanks to optimism about the incoming White House administration and potential XRP ETFs, leading to the cryptocurrency recently flipping Tether and Solana to become the<a href="https://www.benzinga.com/24/12/42259460/xrp-beats-solana-to-become-4th-largest-crypto-by-market-cap-on-ripples-rlusd-approval-speculation"> third-largest crypto.</a>
What Happened: The price of XRP is up 87% over <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42296482/xrp-price-explodes-415-in-30-days-experts-analyze-why-xrp-is-going-up">the last seven days,</a> hitting new one-month and one-year highs.
The price action could be pinpointed to the anticipation of new leadership at the SEC, a financial institution that has often clashed with Ripple. A new change could see XRP and other cryptos face less or no government resistance moving forward, minimizing risk for investors.
Cryptocurrency experts also told Benzinga that Ripple's partnerships with financial institutions could be the reason for the increase in cryptocurrency&#8217;s price. The filing of several XRP ETFs also has investors excited about a potential larger spotlight on the cryptocurrency and more ways for investors to gain exposure.
While XRP has hit new one-year highs of $2.86 in the last 24 hours and the cryptocurrency is up over 280% year-to-date, the price still trails an all-time high of $3.84 set back in January 2018.
Also happening in 2018 was a Ripple community event at the three-day Consensus conference that saw Snoop Dogg booked as the entertainer and performer for the Ripple community.
Snoop Dogg, who has supported the cryptocurrency sector and non-fungible tokens, performed at a private invitation-only Consensus after-party from Ripple Labs on May 15, 2018.
The performance in New York saw several media outlets <a href="https://www.coindesk.com/markets/2018/05/19/at-ripples-snoop-dogg-party-a-search-for-xrp">cover </a>Snoop Dogg's appearance and the fact that he did not talk about investing in cryptocurrency during his performance. Instead, the event was much like a celebration for the XRP community. Ripple previously said they did not pay Snoop Dogg with XRP tokens for his appearance.
While celebrities endorsing cryptocurrencies is nothing new, Snoop Dogg's appearance may have marked an opportune moment to consider buying XRP—though the rapper offered no direct investment advice during the event.
Read Also: <a href="https://www.benzinga.com/24/11/42225289/heres-how-much-100-invested-in-xrp-token-today-will-be-worth-if-crypto-returns-to-all-time-highs">Here&#8217;s How Much $100 Invested In XRP Token Today Will Be Worth If Crypto Returns To All-Time Highs</a>
Investing $1,000 in XRP: Investors who learned about XRP for the first time with news of his appearance at the Ripple event, or thought that his appearance could signal optimism for the XRP token going forward may have considered buying the cryptocurrency.
A $1,000 investment at the high price of $0.7523 on May 15, 2018 could have bought 1,329.26 XRP. The $1,000 investment would be worth $3,429.49 today based on a price of $2.58 at the time of writing, up 242.9%.
XRP continues to be one of the most talked about cryptocurrency in recent months, and its continued strength and the potential approval of ETFs could lead to a higher price for the coin.
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Image created using a photo from Shutterstock.

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If You Invested $1,000 In XRP Token When Snoop Dogg Performed At Ripple Community Event At Consensus 2018, Here's How Much You'd Have Today

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Pure Storage, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PSTG#NYSE">PSTG</a>) shares are soaring after the company reported its third-quarter results after Tuesday's closing bell. Here's a look at the <a href="https://www.benzinga.com/pressreleases/24/12/n42301813/pure-storage-announces-third-quarter-fiscal-2025-financial-results">details from the report. </a>
The Details: Pure Storage reported quarterly earnings of 50 cents per share, which beat the analyst consensus estimate of 42 cents. Quarterly revenue came in at $831.07 million which beat the consensus estimate of $818.14 million and is an increase over sales of $762.84 million from the same period last year.
Pure Storage reported: 
<ul>
<li>Subscription services revenue of $376.4 million, up 22% year-over-year. </li>
<li>Subscription annual recurring revenue (ARR) of $1.6 billion, up 22% year-over-year. </li>
<li>Remaining performance obligations (RPO) of $2.4 billion, up 16% year-over-year.</li>
<li>Non-GAAP gross margin was 71.9%. </li>
<li>Non-GAAP operating income was $167.3 million. </li>
<li>Non-GAAP operating margin was 20.1%.</li>
<li>Operating cash flow of $97 million. </li>
<li>Free cash flow of $35.2 million</li>
</ul>
&#8220;Pure Storage has achieved another industry first in our journey of data storage innovation with a transformational design win for our DirectFlash technology in a top-four hyperscaler,&#8221; said Pure Storage CEO Charles Giancarlo. 
&#8220;This win is the vanguard for Pure Flash technology to become the standard for all hyperscaler online storage, providing unparalleled performance and scalability while also reducing operating costs and power consumption,&#8221; Giancarlo added. 
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Outlook:&nbsp;Pure Storage sees fourth-quarter revenue of $867 million, versus the $856.93 million estimate, and fiscal 2025 revenue of $3.15 billion, versus the $3.13 billion estimate. 
PSTG Price Action: According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, Pure Storage shares are up 23.55% after-hours at $66.15 at the time of publication Tuesday. 
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Photo: Courtesy of Pure Storage, Inc.

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