AGBA Group Holding (NASDAQ:AGBAW) Stock, Quote.Headers.trade-ideas

AGBA Group Holding Ltd provides healthcare, wellness, financial advisory, and fintech services. The group is organized into four divisions: Platform, Distribution, Healthcare, and Fintech. The AGBA platform helps individual and corporate customers with financial, medical, and healthcare service options. The AGBA is an omnichannel one-stop financial business solution platform that offers financial services, expands business opportunities, and enhances business productivity to licensed financial advisors, licensed brokers, and licensed financial institutions.

AGBA Group Holding Ltd

<ul>
<li>Poster presentation highlights SMART adenine base editors (ABEs)&nbsp;small enough to be packaged into a single adeno-associated virus (AAV)</li>
<li>Data demonstrate compact SMART system optimizations allowing for&nbsp;therapeutically-relevant genome editing</li>
</ul>

News

Reported Earlier, Metagenomi Shares Data On SMART Gene Editing Platform At AIChE Conference, Emphasizing AAV Packaging

Macro Economic Events

Econ #s

Economics

U.K. Unemployment Rate For August 4.0% Vs. 4.1% Est.; 4.1% Prior

U.K. Employment Change 3M/3M For August 373K Vs. 250K Est.; 265K Prior

U.K. Claimant Count Change For September 27.9K Vs. 20.2K Est.; 0.3K (Revised) Prior

U.K. Average Earnings Index +Bonus For August 3.8% Vs. 3.8% Est.; 4.1% (Revised) Prior

Outlook
<ul>
<li>Networks Sales growth in Q4 is expected to be below average last three years seasonality</li>
<li>\Cloud Software and Services Sales growth in Q4 is expected to be below average last three years seasonality</li>
<li>Adj. gross margin Networks in Q4 is expected to be in the range 47%-49%</li>
</ul>
&nbsp;

Earnings

Guidance

ERIC

Ericsson Expects Q4 Adjusted Gross Margin Networks Between 47%-49%; Forecasts Sales Growth For Networks and Cloud Software to Fall Below The Three-Year Seasonal Average

<ul>
<li>Long-term and real-world data of VYVGART&reg; (efgartigimod alfa-fcab) and VYVGART&reg; Hytrulo (efgartigimod alfa and hyaluronidase-qvfc) demonstrate speed of onset, depth of response, and durability of response</li>
<li>VYVGART demonstrates consistent, favorable safety profile from follow-up safety data that totals &gt;8,000 patient years; no vaccinations required and no impact on human serum albumin levels</li>
<li>Real-world data show more than&nbsp;50 percent&nbsp;of gMG patients demonstrate substantial and sustained reduction in steroid use following VYVGART initiation</li>
<li>argenx continues to expand its reach in neurology through pipeline programs, including empasiprubart advancing in MMN and ARGX-119 in ALS and CMS</li>
</ul>

ARGX

argenx Highlights Patient Impact Data Across Immunology Programs At 2024 AANEM And MGFA Scientific Session

Larry Fink, CEO of the world&#8217;s largest asset manager,&nbsp;BlackRock Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLK#NYSE">BLK</a>), said that the future of cryptocurrencies, including Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), will not be influenced by the outcome of the upcoming presidential election.
What Happened: During the company's recent <a href="https://www.benzinga.com/news/earnings/24/10/41288867/blackrocks-steady-climb-q3-earnings-beat-projections-assets-under-management-soars-to-11-5t">third-quarter earnings</a> call, Fink was asked about the potential opportunities for the company in the wake of a more cryptocurrency-friendly administration in Washington, D.C.
In response, Fink said, &#8220;Well, first, I&#8217;m not sure if either president or other candidate would make a difference.&#8221;
He expressed optimism that overall usage of digital currencies will expand nonetheless, as institutions worldwide looked for ways to allocate to the asset class.
&#8220;But I truly don&#8217;t believe it&#8217;s a function of regulation, of more regulation, less regulation. I think it&#8217;s a function of liquidity and transparency,&#8221; Fink added. 
Reaffirming his positive outlook on Bitcoin, Fink deemed it a unique asset class, comparable to commodities like gold, and predicted an expansion in its investment appeal.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41323012/trump-backed-world-liberty-financial-says-dollar-pegged-stablecoin-and-not-bitcoin-is-the-">Trump-Backed World Liberty Financial Says Dollar-Pegged Stablecoin And Not Bitcoin Is The Best Way To &#8216;Make America Great&#8217;</a>
Why It Matters: Fink is known for his <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40937953/larry-fink-defies-blackrocks-largest-shareholder-to-make-a-bold-bet-on-bitcoin-heres-how-h">bold bet on Bitcoin</a>, a marked reversal from his skepticism a few years back. 
BlackRock, which is sitting on assets worth $11.5 trillion, has <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40950912/bitcoins-reserve-asset-appeal-increased-due-to-state-of-us-federal-deficit-and-debt-says-b">advocated for Bitcoin as a safeguard against the U.S. fiscal deficit</a>.
BlackRock&#8217;s&nbsp;iShares Bitcoin Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBIT#NASDAQ">IBIT</a>) has become the world&#8217;s largest Bitcoin investment fund since its launch earlier this year, holding assets worth $24.45 billion, according to SoSo Value. 
Price Action: At the time of writing, Bitcoin was exchanging hands at $65,470.43, up 2.24% 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.." target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>. Shares of BlackRock closed 0.19% higher at $992.18 during Monday&#8217;s trading session.
Image via Flickr/ Jolanda Flubacher
Read Next: 
<ul>
<li><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?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Man Who Accidentally Threw Hard Drive Man Who Accidentally Threw Hard Drive Containing 8,000 Bitcoins Worth Half A Billion Dollars In Landfill Sues Local City Council For Not Excavating The Site</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.<a href="https://www.benzinga.com/apis?utm_source=benzinga.com&amp;utm_campaign=article-bottom" rel="noreferrer noopener" target="_blank"></a>

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

Cryptocurrency

Markets

$BTC

IBIT

Blackrock CEO Larry Fink Says Bitcoin, Other Cryptos Have Bright Future Regardless Of Whether Trump Or Harris Becomes President

Telefonaktiebolaget L M Ericsson (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ERIC#NASDAQ">ERIC</a>) reported quarterly earnings of $0.11 per share which beat the analyst consensus estimate of $0.08 by 37.5 percent. This is a 57.14 percent increase over earnings of $0.07 per share from the same period last year. The company reported quarterly sales of $6.110 billion which beat the analyst consensus estimate of $5.719 billion by 6.84 percent. This is a 2.47 percent increase over sales of $5.963 billion the same period last year.

Earnings Beats

Telefonaktiebolaget L M Ericsson Q3 2024 GAAP EPS $0.11 Beats $0.08 Estimate, Sales $6.110B Beat $5.719B Estimate

BBJP

WisdomTree Trust Japan Total Dividend Fund

Japan Industrial Production (MoM) For August -3.3% Vs. -3.3% Est.; -3.3% Prior

Memecoins made full use of the return of bullish sentiment on Monday, with the less established ones topping the biggest market gainers list.
What happened: Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)-based BOOK OF MEME pumped over 28% to become the best-performing cryptocurrency in the last 24 hours.&nbsp;
The token spiked to levels not seen since July 30, with trading volume surging over 68% to $702.34 million.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 11:30 p.m. EDT)</td>
</tr>
<tr>
<td>BOOK OF MEME (BOME)</td>
<td>+28.76%</td>
<td>$0.01099</td>
</tr>
<tr>
<td>Cat in a dogs world (MEW)</td>
<td>+22.00%</td>
<td>$0.008811</td>
</tr>
<tr>
<td>Bonk (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">BONK</a>)</td>
<td>+10.04%</td>
<td>$0.00002346</td>
</tr>
</tbody>
</table>
</figure>
.Cat-themed memecoin cat in a dogs world occupied the second spot in the biggest 24-hour gainers list after a 22% surge. The coin's trading volume nearly doubled over the last 24 hours, indicating high buying pressure.
Yet another Solana-based token, Bonk, bounced 10%, becoming the best-performing billion-dollar capitalization meme coin in the 24-hour period.&nbsp;
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41322645/mark-cuban-defends-kamala-harris-crypto-knowledge-appears-to-take-dig-at-trump-for-selling">Mark Cuban Defends Kamala Harris&#8217; Crypto Knowledge, Appears To Take Dig At Trump For Selling Tokens And Merchandise: &#8216;Unlike Your Guy, She Doesn&#8217;t Pretend&#8217;</a>
Blue-chip currencies such as Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) and Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>) also saw decent gains, rising 3.78% and 3.13%, respectively.
Overall, the total meme coin market capitalization rose over 6% in the last 24 hours.
The upsurge followed a broader market rally that saw market bellwether Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41322892/bitcoin-ethereum-dogecoin-soar-as-stocks-register-new-all-time-highs-top-analyst-says-king">surge over 5% to hit levels not seen since late July</a>.
Photo by stockphoto-graf on Shutterstock
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41323012/trump-backed-world-liberty-financial-says-dollar-pegged-stablecoin-and-not-bitcoin-is-the-">Trump-Backed World Liberty Financial Says Dollar-Pegged Stablecoin And Not Bitcoin Is The Best Way To &#8216;Make America Great&#8217;</a></li>
</ul>

Movers

Trading Ideas

$BONK

$DOGE

$SHIB

$SOL

Not Dogecoin, Not Shiba Inu But Lesser-Known BOOK OF MEME And Cat In A Dogs World Token Emerge As Best-Performing Cryptos

The Joe Biden administration is reportedly considering restricting the export of advanced AI chips from Nvidia Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) and Advanced Micro Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) to specific countries.
What Happened: The proposal which hasn't been finalized yet aims to limit the AI capabilities of certain nations, citing national security concerns, with a focus on Persian Gulf countries, <a href="https://www.bloomberg.com/news/articles/2024-10-15/us-weighs-capping-exports-of-ai-chips-from-nvidia-and-amd-to-some-countries">reported</a> Bloomberg, citing people familiar with the matter.
The development comes following the introduction of the framework that intends to streamline the licensing process for AI chip shipments to data centers in regions such as the UAE and Saudi Arabia.
See Also: <a href="https://www.benzinga.com/news/24/10/41307824/nvidia-ceo-jensen-huang-praises-elon-musk-for-achieving-something-with-xai-in-19-days-that-usually-t">Nvidia CEO Jensen Huang Praises Elon Musk For Achieving Something With xAI In 19 Days That Usually Takes At Least A Year: &#8216;Singular In His Understanding Of Engineering&#8217;</a>
If finalized, these caps would strengthen restrictions initially aimed at curbing China's ambitions in AI.
The Biden administration has already <a href="https://www.benzinga.com/markets/asia/24/04/38024971/china-criticizes-us-chip-export-rules-impacting-nvidia-and-amd">limited AI chip exports</a> from companies such as Nvidia and AMD to over 40 nations across the Middle East, Africa, and Asia due to concerns that the technology could be redirected to China.
Subscribe to the <a href="https://bztechtrends.beehiiv.com/subscribe">Benzinga Tech Trends newsletter</a> to get all the latest tech developments delivered to your inbox.
Why It Matters: Previously, it was reported that despite U.S. semiconductor sanctions, Nvidia&#8217;s AI chips continue to find their way into Chinese markets <a href="https://www.benzinga.com/government/24/09/40748185/chinas-markets-still-manage-to-get-nvidia-ai-chips-via-smuggling-report">through smuggling</a> and other channels.&nbsp;
Meanwhile, China has <a href="https://www.benzinga.com/government/24/10/41204521/nvidias-gpu-sales-at-risk-as-china-pushes-local-ai-chips-in-retaliation">pushed for local AI chips</a> including those made by companies like Huawei Technologies, in retaliation against the U.S. sanctions. These efforts could impact Nvidia's GPU sales.
On Monday, Nvidia's stock reached an all-time high. The <a href="https://www.benzinga.com/news/24/10/41318786/nvidia-trump-media-technology-bausch-lomb-sirius-xm-and-other-big-stocks-moving-higher-on-monday">stock climbed 2.9%</a>, surpassing $138.71, after its prior record close of $135.58 set in June.
The AI chip giant currently has a market cap of $ 3.386, making it the second most valuable company in the world after Apple Inc.
Check out more of Benzinga's Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech">following this link</a>.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/24/10/41309060/nvidias-jensen-huang-says-chatgpt-led-to-awakening-of-ai-praises-sam-altmans-openai-as-one-of-most-c">Nvidia&#8217;s Jensen Huang Says ChatGPT Led To &#8216;Awakening Of AI,&#8217; Praises Sam Altman&#8217;s OpenAI As One Of Most Consequential Companies Of Our Time</a></li>
</ul>

Tech

Media

NVDA

Nvidia, AMD Face Chip Export Curbs, As Biden Administration Considers Restrictions On Middle-East Countries, Others: Report

Jefferies, a global investment bank, has identified three major companies that are poised to benefit from the booming anime industry, which is expected to <a href="https://www.benzinga.com/markets/equities/24/10/41274383/why-is-japanese-anime-production-company-bloomz-stock-jumping-on-thursday">reach a value of $60 billion by 2030</a>.
What Happened: The investment bank has pointed out Netflix Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>), Sony Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SONY#NYSE">SONY</a>), and Bandai Namco (OTC:<a class="ticker" href="https://www.benzinga.com/stock/NCBDF#OTC">NCBDF</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/NCBDY#OTC">NCBDY</a>) as the top beneficiaries of the expanding anime market, <a href="https://www.cnbc.com/2024/10/15/netflix-and-more-jefferies-names-stocks-set-to-benefit-from-a-60-billion-anime-boom.html">reported</a> CNBC.
Jefferies&#8217; analysts noted that the global entertainment industry is increasingly focusing on anime-related businesses as a core part of their growth strategies. The primary driver of this trend is the rapid expansion of the overseas market, which has grown to match the size of the Japanese market since the onset of the COVID-19 pandemic.
According to the analysts, &#8220;anime has become a mainstream culture in the U.S./Europe, with significant potential for expansion,&#8221; with significant potential for further expansion. They anticipate the market to double from $31.2 billion in 2023 to $60.1 billion by 2030.
The analysts predict that this growth will be driven by increased anime distribution on streaming platforms and a surge in licensing revenues from merchandise and advertising use.
Jefferies also highlighted the significant global impact of Japanese anime IP, with the top six franchises generating a combined revenue of $311 billion, dwarfing the Marvel Cinematic Universe&#8217;s $30 billion.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41306653/anthony-scaramucci-praises-trump-for-shifting-the-crypto-debate-hes-now-forced-the-democra?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Anthony Scaramucci Praises Trump For Shifting The Crypto Debate: &#8216;He&#8217;s Now Forced The Democrats To Come Back Into The Middle&#8217;</a>
Netflix, which has been actively licensing and funding several anime series, is expected to continue its anime strategy into the foreseeable future. Sony Group, described as a leader in anime production and streaming, is also set to benefit from the anime market. 
Bandai Namco, known for leveraging anime IP for various products and digital games, is experiencing rising anime IP popularity through overseas sales expansion. It has produced popular games like the Shonen Jump series and Dragon Ball franchise.
Why It Matters: The anime industry has been experiencing significant growth and diversification, with companies like BloomZ Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BLMZ#NASDAQ">BLMZ</a>) <a href="https://www.benzinga.com/markets/equities/24/10/41274383/why-is-japanese-anime-production-company-bloomz-stock-jumping-on-thursday">expanding their revenue streams</a> through strategic acquisitions and project rights. 
This growth has also been reflected in the music industry, with Spotify Technology SA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>) <a href="https://www.benzinga.com/general/entertainment/24/08/40470764/spotify-boasts-395-surge-in-anime-music-streams-teams-up-with-crunchyroll">reporting a 395% surge</a> in anime music streams since 2021.
Meanwhile, Sony Group has been actively <a href="https://www.benzinga.com/general/gaming/24/07/39736917/sony-pocketpair-collaborate-to-expand-palworlds-global-presence">expanding its global presence</a> in the gaming industry through strategic collaborations, further solidifying its position in the anime market. 
This growth, however, has also raised concerns about copyright infringement, as seen in the case of a <a href="https://www.benzinga.com/markets/asia/23/09/34368362/japanese-youtuber-faces-jail-time-for-monetizing-gameplay-videos">Japanese YouTuber who was sentenced</a> to two years in prison for monetizing gameplay videos without permission from publishers.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41278873/gary-gensler-doubts-cryptocurrency-future-says-leading-figures-are-either-in-jail-or-await?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Gary Gensler Doubts Cryptocurrency Future, Says Leading Figures Are Either In Jail Or Awaiting Extradition</a></li>
</ul>
Image Via Pixabay
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Entertainment

Equities

BLMZ

NCBDF

NCBDY

NFLX

Sony Group Corporation American Depositary Shares

SONY

SPOT

Netflix One Of The Key Beneficiaries Of $60B Anime Boom, Says Jefferies — Here Are The Others

The team behind World Liberty Financial, a decentralized finance (DeFi) project backed by former President Donald Trump, stated that the best way to "Make "America Great" using cryptocurrencies was to encourage the usage of U.S. dollar-backed stablecoins rather than speculative, risky assets.&nbsp;&nbsp;
What happened: The team held a live stream via X Spaces Monday to give details about the widely-publicized project ahead of a token sale.
Zak Folkman, part of the founding team, said that the platform was inspired by the ideals envisioned by Donald Trump, which is to make financial opportunities accessible to everyone while at the same time supporting the U.S. economy
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://t.co/ZxXKTAH9HD">https://t.co/ZxXKTAH9HD</a>
&mdash; WLFI (@worldlibertyfi) <a href="https://twitter.com/worldlibertyfi/status/1845795823356985620?ref_src=twsrc%5Etfw">October 14, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
"Through stablecoins, we can in fact make the dollar not only strong but make it safe as the world&#8217;s reserve currency for the next 5000 years," Folkman said.&nbsp;
He emphasized several advantages of the cryptocurrency derivatives of the dollar, such as their stable value and the 1:1 redemption feature.&nbsp;
"We really believe that&#8217;s the best way to make America great through crypto," Holkman stated. "It&#8217;s not through speculating on risky assets."
"Nobody&#8217;s gonna walk into a store and figure out ok, my groceries are $230, how many Satoshis is that? It just doesn&#8217;t make sense," Zolkman added further, pointing toward Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>).
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41319774/if-you-invested-1-000-in-bitcoin-when-warren-buffett-called-it-rat-poison-squared-heres-ho">If You Invested $1,000 In Bitcoin When Warren Buffett Called It &#8216;Rat Poison Squared,&#8217; Here&#8217;s How Much You&#8217;d Have Today</a>
Why It Matters: The much-touted DeFi project was launched by Trump last month, with<a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41303639/donald-trump-says-his-crypto-project-world-liberty-financial-will-start-selling-tokens-on-"> the sale of the project's governance token</a> WLFI set for Tuesday.&nbsp;
The project aims to raise $300 million from the initial sale of the token by offering 20% of the supply at a $1.5 billion fully diluted valuation.&nbsp;
Mark Cuban, a leading cryptocurrency advocate, and a Trump critic, <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41307276/mark-cuban-questions-trumps-motive-behind-wlfi-token-sale-former-prez-failed-in-the-bitcoi">questioned the rationale behind such a move</a>, stating, "I&#8217;ll let this stand on its own."
Price Action: At the time of writing, Bitcoin was exchanging hands at $64,093.01, up 1.91% 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>.  
Image via Wikimedia Commons
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41322645/mark-cuban-defends-kamala-harris-crypto-knowledge-appears-to-take-dig-at-trump-for-selling">Mark Cuban Defends Kamala Harris&#8217; Crypto Knowledge, Appears To Take Dig At Trump For Selling Tokens And Merchandise: &#8216;Unlike Your Guy, She Doesn&#8217;t Pretend&#8217;</a></li>
</ul>

Trump-Backed World Liberty Financial Says Dollar-Pegged Stablecoin And Not Bitcoin Is The Best Way To 'Make America Great'

On Monday, Cathie Wood&#8217;s Ark Invest made significant trades, with the most notable being the sale of Robinhood Markets Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>) shares across multiple ETFs.
The HOOD Trade: Ark Invest, under the leadership of Cathie Wood, sold off 210,374 Robinhood shares. The ARK Fintech Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKF#NYSE">ARKF</a>) sold 14,458 shares, while the ARK Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKK#NYSE">ARKK</a>) offloaded 181,900 shares. Notably on the day, Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) surged above $65,000, driven by bullish sentiment and liquidations of downside bets, with market confidence boosted ahead of U.S. elections and a shift from neutral to greed in market sentiment. Robinhood, a popular platform among retail traders, enables users to trade cryptocurrencies such as Bitcoin, Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>), and Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>).
The ARK Next Generation Internet ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKW#NYSE">ARKW</a>) also participated in the sell-off, disposing of 14,016 Robinhood shares while Ark Fintech Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKF#NYSE">ARKF</a>) sold another 14,458 shares. The total value of the trade, based on the closing price of $27.00, is approximately $5.7 million.
Robinhood has been in the spotlight recently, with the company announcing its <a href="https://www.benzinga.com/news/24/10/41233588/whats-going-on-with-robinhood-stock">first investor day</a> scheduled for December 4, 2024. The event, to be held in New York City, will be live-streamed and will provide an opportunity for the company to share its vision for the next decade. The announcement of the investor day had initially led to a surge in Robinhood&#8217;s stock price.
Earlier in the year, Robinhood reported impressive second-quarter earnings, with a 40% year-over-year increase in revenue and a significant 161% increase in crypto revenue. The platform also reached a milestone of 2 million Gold subscribers. Despite these positive developments, Ark has been on a Robinhood selling spree. It&#8217;s worth noting that Ark Invest had previously <a href="https://www.benzinga.com/markets/equities/24/10/41242937/cathie-woods-ark-invest-trades-bets-14m-on-amazon-shares-dumps-robinhood-stock-worth-36m-embrace">dumped</a> $36 million worth of Robinhood stock earlier this month.
See Also: <a href="https://www.benzinga.com/markets/equities/24/10/41303723/jim-cramer-says-im-worried-about-boeing-after-plane-maker-lays-off-17-000-employees-amid-safety-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Jim Cramer Says &#8216;I&#8217;m Worried&#8217; About Boeing After Plane Maker Lays Off 17,000 Employees Amid Safety And Financial Woes: &#8216;A Very Jarring Series Of News Tonight&#8217;i</a> 
Other Key Trades:
<ul>
<li>Advanced Micro Devices Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) shares were bought by ARKX. The firm sold 2,400 shares worth $396,648.</li>
<li>Markforged Holding Corp (MKFG) shares were sold by the ARK Autonomous Technology &amp; Robotics ETF (ARKQ) and the ARK Space Exploration &amp; Innovation ETF (ARKX). Materialise NV (MTLS) shares were sold by ARKQ. Blade Air Mobility Inc (BLDE) shares were bought by ARKQ and ARKX.</li>
</ul>
Read Next: 
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41303762/trumps-election-odds-on-polymarket-gary-genslers-doubts-about-cryptocurrencys-future-shiba?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump&#8217;s Election Odds On Polymarket, Gary Gensler&#8217;s Doubts About Cryptocurrency&#8217;s Future, Shiba Inu Lead Developer&#8217;s Cryptic Post Sparks Intrigue And More: This Week In Crypto</a></li>
</ul>
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

ETFs

$ETH

ARKF

ARKK

ARKW

HOOD

Cathie Wood's Ark Invest Sells $5.7M Of Robinhood Shares As Bitcoin Surge Ignites Crypto Market — Buys Stock Of Nvidia Rival AMD

Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) is reportedly experiencing a shortage in inventory for several of its products, leading to speculation about the imminent launch of new models.
What Happened: On Monday, Bloomberg columnist Mark Gurman took to X, formerly Twitter, and said that retail inventory for several Apple products, including iMacs, MacBook Pros, Mac minis, iPad minis, and their accessories, is running low.
Such inventory shortages are often indicative of a company preparing to introduce updated versions of its products.
Interestingly, Gurman pointed out that the entry-level iPad is not experiencing the same inventory issues.
See Also: <a href="https://www.benzinga.com/news/24/10/41306527/apples-low-cost-vision-pro-could-hit-the-shelves-next-year-everything-you-need-to-know-about-iphone?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Apple&#8217;s Low-Cost Vision Pro Could Hit The Shelves Next Year — Everything You Need To Know About iPhone Maker&#8217;s Plan To Challenge Meta</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">Retail inventory for iMacs, MacBook Pros, Mac minis, iPad minis, iPad mini accessories continues to dwindle. Not seeing the same for entry iPad, for those wondering.
&mdash; Mark Gurman (@markgurman) <a href="https://twitter.com/markgurman/status/1845892792762954042?ref_src=twsrc%5Etfw">October 14, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
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: Earlier this month, a Russian YouTuber <a href="https://www.benzinga.com/news/24/10/41199834/unreleased-m4-macbook-pro-shown-off-by-russian-youtuber-weve-seen-prototypes-leak-early-but-never-a">reportedly tested an unannounced</a> M4 MacBook Pro, which was expected to be launched in November.
The video suggested that the M4 MacBook Pro would come with 512GB of storage and 16GB of RAM. This leak came during the same time when Gurman reported that Apple is likely to unveil its first M4-powered Macs on Nov. 1.
The expected lineup includes a 14-inch MacBook Pro with the M4 chip, along with higher-end 14-inch and 16-inch MacBook Pros featuring the M4 Pro and M4 Max chips.
He noted that Apple could also introduce a refreshed iMac with the M4 chip, a revamped Mac mini with M4 and M4 Pro options, <a href="https://www.benzinga.com/news/24/08/40567373/apple-prepping-ipad-mini-refresh-top-analyst-says-stock-shortages-hint-at-ai-powered-update-after-tw">and a new iPad mini</a>.
Early next year, Apple may release 13-inch and 15-inch MacBook Airs with M4, a new iPhone SE, 11-inch and 13-inch iPad Airs, updated Magic Keyboards for the iPad Air, <a href="https://www.benzinga.com/news/24/05/38911822/upgraded-apple-airtag-with-advanced-chip-and-superior-location-tracking-set-for-2025-launch-says-mar">and a refreshed AirTag</a>.
Mac Studio and Mac Pro models equipped with M4 chips are also in development, with Mac Studio anticipated mid-2025 and Mac Pro arriving later in the year.
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:
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<li><a href="https://www.benzinga.com/news/24/10/41307824/nvidia-ceo-jensen-huang-praises-elon-musk-for-achieving-something-with-xai-in-19-days-that-usually-t?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Nvidia CEO Jensen Huang Praises Elon Musk For Achieving Something With xAI In 19 Days That Usually Takes At Least A Year: &#8216;Singular In His Understanding Of Engineering&#8217;</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.

AAPL

Apple To Launch New MacBooks Pro, iPad Minis and iMacs? Analyst Says Inventory Dwindling For These Gizmos

Leading cryptocurrencies rallied handsomely Monday, coinciding with fresh highs scaled by stocks.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 9:30 p.m. EDT)</td>
</tr>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>+5.40%</td>
<td>$65,895.00</td>
</tr>
<tr>
<td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>+6.86%</td>
<td>$2,620.94</td>
</tr>
<tr>
<td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>+6.43%</td>
<td>$0.1175</td>
</tr>
</tbody>
</table>
</figure>
What Happened: Bitcoin jumped above $65,000 during morning trading hours and rose to $66,434 late evening, the highest it has been since July 30. 
Ethereum also rose to a two-week high of $2,630, representing a nearly 7% jump in the last 24 hours.&nbsp;
Digital asset trading firm QCP Capital highlighted historical similarities with Bitcoin's upward price action preceding the U.S. elections.&nbsp;
More than $245 million was liquidated from leveraged positions in the last 24 hours, with downside bets worth $209 million getting wiped out.&nbsp;
Bitcoin's Open Interest-Weighted Funding Rate surged to levels not seen since late July, signaling the dominance of bullish leveraged traders. 
The market sentiment dramatically shifted from "Neutral" to "Greed," according to the Cryptocurrency Fear &amp; Greed index, indicating a potential surge in buying pressure.&nbsp;
Top Gainers (24-Hours)
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 9:30 p.m. EDT)</td>
</tr>
<tr>
<td>BOOK OF MEME (BOME)</td>
<td>+37.17%</td>
<td>$0.01069</td>
</tr>
<tr>
<td>Cat in a dogs world (MEW)</td>
<td>+28.53%</td>
<td>$0.008632</td>
</tr>
<tr>
<td>Bitcoin Cash (BCH)</td>
<td>+18.28%</td>
<td>$380.39</td>
</tr>
</tbody>
</table>
</figure>
The global cryptocurrency stood at $2.29 trillion, following a jump of 4.75% in the last 24 hours.
Stocks registered a blockbuster opening in the new trading week. The Dow Jones Industrial Average popped 201.36 points, or 0.47%, to close at a record high of 43,065.22. The S&amp;P 500 jumped 0.77% to end at 5,859.85, also a record high. The tech-heavy Nasdaq Composite gained 0.87% to hit 18,502.69.
The rally was fueled by AI juggernaut Nvidia Corp.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) record close Monday after its shares rose 2.4% in the regular trading session.
The earnings season kicked off with JPMorgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) <a href="https://www.benzinga.com/news/earnings/24/10/41289783/jpmorgan-chase-q3-earnings-investment-banking-revenue-soars-29-raises-fy24-net-interest-income-outl">reporting their third-quarter numbers last week</a>. This week, investors were keeping a careful eye on the next batch of big earnings reports from major banks and technology companies, including Goldman Sachs Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>) and Netflix Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>).
See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>
Analyst Notes: Cryptocurrency analyst Ali Martinez drew attention to his projection from last month and how things were going as anticipated.
On Sept. 23, the analyst had predicted Bitcoin's fall to $60,000, followed by a rebound to $66,000, a retrace to $57,000, and finally a breakout toward $78,000.
Martinez remarked that with the first three prerequisites met, King Crypto was on track for $78,000.
<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">drop to $60,000, &#x1f3af; rebound to $66,000, &#x1f3af; retrace to $57,000, &#x1f3af; $78,000 next! <a href="https://t.co/HwoRrlM0D2">https://t.co/HwoRrlM0D2</a>
&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1845958125708275918?ref_src=twsrc%5Etfw">October 14, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Another widely-followed technical analyst, Rekt Capital stated that Bitcoin needed one daily close above $65,000 and a subsequent retest to sail into the $65000-$71350 area.
"Each of these moves have ended in lower highs, but there is a good chance that this series of lower highs could end with a daily close above $65,000," the analyst said.
<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"><a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> Daily Candle Closes above ~$65000 (blue) followed by successful retests have enabled moves into the $65000-$71350 region Each of these moves have ended in Lower Highs but there is a good chance that this series of Lower Highs could end with a Daily Close above $65K… <a href="https://t.co/QmmQwLcDaI">pic.twitter.com/QmmQwLcDaI</a>
&mdash; Rekt Capital (@rektcapital) <a href="https://twitter.com/rektcapital/status/1845790784034943243?ref_src=twsrc%5Etfw">October 14, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Photo by Igor Faun on Shutterstock
Read Next:    
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41303639/donald-trump-says-his-crypto-project-world-liberty-financial-will-start-selling-tokens-on-">Donald Trump Says His Crypto Project World Liberty Financial Will Start Selling Tokens On Tuesday</a></li>
</ul>

Bitcoin, Ethereum, Dogecoin Soar As Stocks Register New All-Time Highs: Top Analyst Says King Crypto On Track Toward $78K

Leading economists and policymakers have lauded the decision to award the Nobel Prize in Economic Sciences to Daron Acemoglu, Simon Johnson, and James Robinson for their groundbreaking research on global wealth inequality and <a href="https://www.benzinga.com/news/24/10/41310241/us-economists-daron-acemoglu-simon-johnson-and-james-robinson-win-nobel-prize-for-groundbreaking-res">institutional impacts on economic development</a>.
What Happened: Gita Gopinath, Deputy Managing Director of the International Monetary Fund, took to social media to congratulate the winners. &#8220;Good institutions are critical to a country&#8217;s prosperity,&#8221; Gopinath emphasized, underscoring the significance of the trio&#8217;s work.
<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">Congratulations <a href="https://twitter.com/DrDaronAcemoglu?ref_src=twsrc%5Etfw">@DrDaronAcemoglu</a>, <a href="https://twitter.com/baselinescene?ref_src=twsrc%5Etfw">@baselinescene</a>, James Robinson for winning the prize! Good institutions are critical to a country&#39;s prosperity. <a href="https://twitter.com/hashtag/NobelPrize?src=hash&amp;ref_src=twsrc%5Etfw">#NobelPrize</a> <a href="https://t.co/Vrd0KDve31">https://t.co/Vrd0KDve31</a>
&mdash; Gita Gopinath (@GitaGopinath) <a href="https://twitter.com/GitaGopinath/status/1845811939596742933?ref_src=twsrc%5Etfw">October 14, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Paul Krugman, a Nobel laureate himself, praised the winners&#8217; research on X. &#8220;Their work on how colonial regimes focused on resource extraction inflicted long-term damage was clever and important,&#8221; Krugman wrote, noting its current relevance.
<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">Congrats to Acemoglu/Johnson/Robinson for their Nobel. Their work on how colonial regimes focused on resource extraction inflicted long-term damage was clever and important. Also of some current relevance, but I'll save that for another post.
&mdash; Paul Krugman (@paulkrugman) <a href="https://twitter.com/paulkrugman/status/1845798093582725391?ref_src=twsrc%5Etfw">October 14, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Jason Furman, a key figure in the 44th President Barack Obama&#8216;s administration, offered a detailed analysis of the award&#8217;s importance. He congratulated the winners &#8220;for helping to show how empiricism can shed light on some of the deepest and most important questions we face&#8211;in this case why some countries are rich and some are poor.&#8221;
Furman contextualized the award within the broader evolution of economic growth theory. He contrasted the empirical approach of Acemoglu, Johnson, and Robinson with earlier theoretical models, such as those of Robert Solow and Paul Romer. &#8220;Unlike theory, empiricism is like an edifice that builds up over time with the higher layers subsuming the lower ones,&#8221; Furman explained. &#8220;But the edifice will be taller and stronger because of their work.&#8221;
<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">The Solow model basically organizes an obvious point: growth comes from capital, labor and technology. It has a few interesting implications, like convergence due to diminishing returns. But it does not answer the big questions: where do the capital, labor &amp; technology come from.
&mdash; Jason Furman (@jasonfurman) <a href="https://twitter.com/jasonfurman/status/1845802508368707709?ref_src=twsrc%5Etfw">October 14, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Dani Rodrik of Harvard Kennedy School praised the recipients for reinvigorating institutional studies in mainstream economics. &#8220;They revived and made cool again the study of institutions in mainstream economics,&#8221; Rodrik tweeted. &#8220;Their work stimulated a huge literature that grows by the day.&#8221;
<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">Congratulations to Daron Acemoglu, Simon Johnson, and James Robinson. They revived and made cool again the study of institutions in mainstream economics. Their work stimulated a huge literature that grows by the day.
&mdash; Dani Rodrik (@rodrikdani) <a href="https://twitter.com/rodrikdani/status/1845770162751914173?ref_src=twsrc%5Etfw">October 14, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41317881/hurricane-milton-to-deliver-2-5b-blow-to-floridas-homebuilding-sector-goldman-sachs?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Hurricane Milton To Deliver $2.5B Blow To Florida&#8217;s Homebuilding Sector, Goldman Sachs Says</a>
Why It Matters: The Nobel Committee recognized the U.S.-based economists for their research on how societies with inadequate legal frameworks and exploitative institutions struggle to achieve economic growth. Acemoglu and Johnson are professors at the Massachusetts Institute of Technology, while Robinson directs the University of Chicago&#8217;s Pearson Institute.
This award follows the recent Nobel Prize in Physics awarded to Geoffrey Hinton and John Hopfield for their foundational <a href="https://www.benzinga.com/news/24/10/41233245/ai-godfather-geoffrey-hinton-wins-nobel-prize-for-artificial-intelligence-work-work-has-already-been">work in artificial intelligence</a>. 
Read Next: 
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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41319060/s-p-500-extends-record-highs-dow-breaks-43-000-ahead-of-pivotal-earnings-week-bitco?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">S&amp;P 500 Extends Record Highs, Dow Breaks 43,000 Ahead Of Pivotal Earnings Week, Bitcoin&#8217;s Rally Lifts Crypto Stocks: What&#8217;s Driving Markets Monday?</a></li>
</ul>
Image Via Flickr
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors

IMF's Gita Gopinath, Paul Krugman And Other Economists Hail Nobel Prize Win For Acemoglu, Johnson, And Robinson: 'Made Cool Again The Study Of Institutions'

The stock market continued its bullish run on Monday, with the S&amp;P 500 and the Dow Jones Industrial Average hitting record highs. The S&amp;P 500 surged past 5,850 points, while the Dow Jones broke the 43,000 mark for the first time. However, the Nasdaq 100 lagged behind, gaining 0.9% but remaining about 1% below its all-time high set on July 10. Amidst this market performance, certain stocks caught the attention of retail traders and investors.
NVIDIA Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) saw a rise of 2.43%, closing at $138.07. The stock&#8217;s intraday high was $139.60, with a low of $136.30. Its 52-week high and low are $140.76 and $39.23 respectively. A Chinese government-backed think tank has urged the country&#8217;s data centers to continue using Nvidia&#8217;s high-performance chips, citing the substantial costs and <a href="https://www.benzinga.com/news/24/10/41317732/whats-going-on-with-nvidia-stock-on-monday">complexity involved</a> in transitioning to domestic alternatives. 
MicroStrategy Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) dropped by 5.14% to close at $201.67. The stock reached a 52-week high of $227.15 before pulling back. Its intraday low was $201.43, and its 52-week low stands at $32.1. The company&#8217;s shares were <a href="https://www.benzinga.com/news/24/10/41320228/microstrategy-shares-hit-new-52-week-highs-before-pulling-back-heres-whats-going-on">influenced</a> by the surge in Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) prices, given MicroStrategy&#8217;s significant Bitcoin holdings. 
See Also: <a href="https://www.benzinga.com/news/24/10/41309748/columbus-day-is-stock-market-open-today?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Columbus Day: Is Stock Market Open Today?</a>
Trump Media &amp; Technology Group Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJT#NASDAQ">DJT</a>) surged 18.47% to close at $29.95. The stock&#8217;s intraday high and low were $30.47 and $25.25, respectively, with a 52-week high of $79.38 and a low of $22.55. The company announced the release of its Truth+ <a href="https://www.benzinga.com/news/24/10/41317581/whats-going-on-with-trump-media-technology-stock-monday">streaming service</a>, contributing to the stock&#8217;s rise. 
SoFi Technologies Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOFI#NASDAQ">SOFI</a>) jumped 11.43% to close at $10.04. The stock&#8217;s intraday high was $10.07, with a low of $9.38. Its 52-week high and low are $10.49 and $6.01, respectively. The company announced a <a href="https://www.benzinga.com/news/24/10/41313080/sofi-technologies-stock-is-surging-monday-whats-going-on">$2 billion loan agreement</a> with Fortress Investment Group, boosting its stock. 
Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) saw a modest increase of 0.62%, closing at $219.16. The stock&#8217;s intraday high was $221.91 and its low was $213.74. Its 52-week high and low are $271 and $138.8, respectively. Tesla&#8217;s aggressive discounts on new models have led to a <a href="https://www.benzinga.com/news/24/10/41311047/teslas-aggressive-price-cuts-trigger-25-drop-in-used-ev-prices-leaving-dealers-struggling">significant drop</a> in used EV prices, creating a challenging scenario for EV owners and dealers.
Prepare for the day&#8217;s trading <a href=""Premarket">with top premarket movers and news</a> by Benzinga.
Image via Shutterstock
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

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In a recent post on X, SpaceX CEO Elon Musk outlined his vision for making life multiplanetary, emphasizing the need for a significant leap in rocket technology to reduce costs.
What Happened: On Monday, Musk responded to a post about the cost of launching to low earth orbit. He explained that to make life multiplanetary, rocket and spacecraft technology needs to improve by 1000X. He pointed out that recent US Mars missions have cost about $1B per ton of useful load to the surface of Mars, a figure that has been increasing over time.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Since your handle is "Whole Mars", perhaps this lengthy reply is apropos: Getting the cost per ton to the surface of Mars low enough that humanity has the resources to make life multiplanetary requires a roughly 1000X improvement in rocket &amp; spacecraft technology. Recent US… <a href="https://t.co/BdasygYS5q">https://t.co/BdasygYS5q</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1846001324246319409?ref_src=twsrc%5Etfw">October 15, 2024</a></blockquote>
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Musk emphasized the monumental cost hurdles humanity faces in making life on Mars a reality, while expressing optimism about future advancements in rocket technology. Musk, responding to a user with the handle &#8220;Whole Mars Catalog.&#8221;
Musk began by acknowledging the astronomical costs involved, stating that recent U.S. Mars missions have had a cost per ton of useful load to the Martian surface at around $1 billion. "It has become more, not less, expensive over time!" he added, stressing the increasing difficulty of reducing these costs with existing technology.
He explained that building a self-sustaining city on Mars would require at least a million tons of equipment, amounting to a cost of over $1,000 trillion. Musk highlighted the impracticality of this figure, pointing out that it far exceeds the current U.S. GDP of $29 trillion.
However, Musk expressed confidence that advancements in rocket technology could bring this cost down by 1,000 times, potentially making the total cost for colonization around $1 trillion. He added that if this could be spread over 40 years, it would translate to less than $25 billion annually, a more feasible number that &#8220;wouldn't materially affect people's standard of living on Earth.&#8221;
Musk specifically pointed to SpaceX's Starship, which is designed to achieve the 1,000X improvement needed to reduce costs. He noted the success of recent tests, stating, "especially after yesterday's <a href="https://www.benzinga.com/news/24/10/41305295/spacex-notches-another-milestone-with-first-booster-catch">booster catch</a> and precise ocean landing of the ship, I am now convinced that it can work."
See Also: <a href="https://www.benzinga.com/news/24/10/41301725/elon-musk-says-robovans-angular-design-inspired-by-art-deco-trains-unusually-low-ground-clearance-en?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Says Robovan&#8217;s Angular Design Inspired By Art Deco Trains, &#8216;Unusually Low&#8217; Ground Clearance Enabled By Automatic Load-Leveling Suspension</a>
Why It Matters: Musk&#8217;s SpaceX has been making strides towards this goal. On Sunday, the company&#8217;s <a href="https://www.benzinga.com/news/24/10/41303518/starship-to-fly-again-on-sunday-after-spacexs-long-war-of-words-with-regulator-over-frivolous-licens">Starship had its fifth test flight</a>, following a long battle with the Federal Aviation Administration (FAA). The Starship, touted as the most powerful rocket ever built, successfully completed the flight, which included a first-of-its-kind "catch" of the booster back at the launch tower.
This significant accomplishment for SpaceX follows nearly 18 years after its first rocket launch. The <a href="https://www.benzinga.com/news/24/10/41317860/elon-musk-went-from-examining-debris-from-falcon-1-flight-to-spacex-successfully-catching-booster-of">Starship&#8217;s design demonstrates reusability</a>, a crucial factor in reducing costs and making Musk&#8217;s vision of affordable Mars colonization a reality.
Image via Shutterstock
Check out more of Benzinga's Future Of Mobility coverage by <a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link</a>.
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

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Elon Musk's Mars Mission Math: 'Building A Self-Sustaining City Would Require At Least A Million Tons Of Equipment' — The Price Tag: A Mind-Boggling $1000 Trillion

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