Latest news for Hangzhou Tigermed (OTC:HNGZY) Stock

Hangzhou Tigermed Consulting Co Ltd is a China-based Contract Research Organization. The company's segment includes Clinical trial solutions and Clinical-related and laboratory services. It generates maximum revenue from the Clinical trial solutions segment. The company's offered services include bioanalytical, medical writing, biostatistics analysis, and medical imaging. The therapeutic areas of the company include Infections, Hematology, Cardiovascular, Endocrinology, Rheumatology, Nephrology, and Central Nervous System (CNS) among others.

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Hangzhou Tigermed Consulting Co Ltd

Warren Buffett, CEO of Berkshire Hathaway Inc., has long been revered as one of the most successful investors in history. He currently has a net worth of $143 billion, according to the Bloomberg Billionaire Index, making him number 10 on the list.
The investing legend, who turned 94 in August, once shared that with &#8220;Berkshire we have an unusual number of people as shareholders who just look at Berkshire they look at as their savings account.&#8221;
&#8220;They put some money in 20 or 30 or 40 years ago, we retain it and reinvest for them, but we're their savings account,&#8221; he stated, adding, &#8220;And that&#8217;s the way I look at my own stock&#8221;
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See Also: <a href="https://www.benzinga.com/startups/24/12/42394596/warren-buffett-warns-parents-about-a-common-mistake-you-dont-want-them-asking-why-heres-what-he-means">Warren Buffett Warns Parents About A Common Mistake: &#8216;You Don&#8217;t Want Them Asking Why&#8217; – Here&#8217;s What He Means</a>
For beginners looking to build wealth like these seasoned Berkshire investors, here is what the Oracle of Omaha recommends they do:
Risk Lies In What You Don't Know
Buffett believes risk stems from ignorance. He advises beginners to invest only in opportunities <a href="https://www.benzinga.com/personal-finance/24/05/39088057/warren-buffett-says-he-knows-in-5-minutes-if-an-investment-is-worth-it">they fully understand</a>.
For years, Buffett avoided technology stocks because he didn't know how to value them. It wasn't until 2016 that he invested in Apple. "Never invest in a business you cannot understand," he said once.
When It Rains Gold, Be Ready With Washtubs
Buffett's approach to <a href="https://www.benzinga.com/news/24/05/38628868/warren-buffetts-frugal-lifestyle-hacks-saved-millions-here-are-5-tips-to-follow-suit-in-your-everyda">saving is both frugal</a> and strategic. Known for spending less than $3.17 on breakfast, he is known for saving cash during economic booms to invest aggressively during downturns.
Critics questioned his hoarding of cash during the early 2000s and 2008, but he used those reserves to buy undervalued companies during economic slumps.
&#8220;Every decade or so, dark clouds will fill the economic skies and they will briefly rain gold.&nbsp;When a downpour of that sort occurs, it is imperative that we rush outdoors carrying washtubs and not teaspoons,&#8221; he once said.
Choose Excellence Over Bargains
Buffett learned early in his career that a low price tag doesn't always mean a good deal. He has previously recommended buying high-quality businesses, even at a fair price, over mediocre ones at a discount.
"It is far better to buy a wonderful company at a fair price than a fair company at a wonderful price," he advises.
Don't Gamble With Borrowed Money
The Oracle of Omaha is firmly against using borrowed money to buy stocks, as market volatility can wreak havoc on leveraged portfolios.
Even Berkshire Hathaway, a reliable stock, has suffered significant downturns once every decade. He warns that debt can cloud judgment during market swings, leading to poor decisions.
"It is insane to risk what you have and need in order to obtain what you don't need," Buffett says.
Think Decades, Not Days
Buffett has often underscored the immense power of compounding and the importance of patience in investing. He applies this mindset to the businesses he invests in, evaluating their potential over 20 to 30 years rather than short-term horizons.
He famously once stated, "Time is the friend of the wonderful company, the enemy of the mediocre."
Image via Flickr
Read Next:
<ul>
<li><a href="https://www.benzinga.com/personal-finance/24/12/42464638/warren-buffett-says-ignore-tarot-card-predictions-by-so-called-experts-the-risks-of-being-out-of-the-game-are-huge-compared-to-being-in">Warren Buffett Says Ignore &#8216;Tarot&#8217; Card Predictions by So-Called Experts: &#8216;The Risks of Being Out of the Game Are Huge Compared to Being In&#8217;</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

News

Tech

Warren Buffett Said An Unusual Amount Of People Look At Berkshire Stock As A Savings Account, Here Is What The Oracle Of Omaha Recommends Investing Novices Do

In a move that mirrors President-elect Donald Trump&#8217;s cryptocurrency vision, a bill proposing a&nbsp;strategic Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) reserve was&nbsp;put forth in the state of Texas on Thursday.
What Happened: Texas Republican Rep. Giovanni Capriglione introduced the bill, also called the Texas Strategic Bitcoin Reserve Act, which proposed the establishment of a special fund in the state treasury to solely hold Bitcoin as a financial asset.
The bill outlined that all Bitcoins will be stored for a minimum period of five years after which they can be sold, appropriated, or converted to other assets on the directions of a comptroller.
&#8220;The legislature recognizes Bitcoin as a valuable digital asset with strategic potential for enhancing the state's fiscal resilience,&#8221; a section in the proposed legislation read.
The south-central state of Texas is known as the <a href="https://www.benzinga.com/markets/cryptocurrency/23/09/34368164/bitcoin-miners-hit-pause-in-texas-as-energy-crisis-stalls-operations">Bitcoin mining hub of the U.S.</a> and a favored location for mining giants like&nbsp;Riot Platforms and MARA Holdings.
See Also:&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42469414/xrp-poised-for-brief-correction-but-heres-why-it-could-go-to-4">XRP Poised For &#8216;Brief Correction,&#8217; But Here&#8217;s Why It Could Go To $4</a>
Why It Matters: This move aligns with the concept of a strategic Bitcoin reserve gaining steam at the federal level. President-elect Donald Trump <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/12/42434184/a-tech-renaissance-could-offer-enticing-opportunities-in-direxions-qqqu-qqqd-etfs">said</a>, &#8220;We&#8217;re going to do something great with cryptocurrency,&#8221; when queried about the potential of such a fund earlier today.
His Republican colleague Senator&nbsp;Cynthia Lummis&nbsp;(R-Wyo.) has already&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/07/40087880/cynthia-lummis-unveils-strategic-bitcoin-reserve-legislation-this-is-our-louisiana-purchas" target="_blank" rel="noreferrer noopener">introduced a bill</a> at the federal level, that calls for the purchase of&nbsp;one million Bitcoin&nbsp;over five years by the Treasury Department and holding it for at least 20 years.
This development follows&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41986427/pennsylvania-introduces-bitcoin-strategic-reserve-act-to-invest-up-to-700-million-in-btc">Pennsylvania&#8217;s move</a>&nbsp;last month to consider its state-held cryptocurrency reserve. The Pennsylvania Bitcoin Strategic Reserve Act, the first bill of its kind, would authorize the state&#8217;s treasury to invest up to 10% of its $7 billion reserves into Bitcoin.
Price Action:  At the time of writing, Bitcoin was exchanging hands at $99,483.75, down 1.37% 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>.
Photo Courtesy: Lucky-photographer On Shutterstock.com
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42440369/bitcoins-next-move-105000-or-85000-poll-finds-over-60-say?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Ondo Finance, Ethereum&#8217;s BlackRock-Backed Tokenization Crypto, Could </a><a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42470327/ondo-finance-ethereums-blackrock-backed-tokenization-crypto-could-reach-5-analyst-says">Reach $5, Analyst Says</a></li>
</ul>

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

Cryptocurrency

Markets

$BTC

Texas Mirrors Trump's Vision, Introduces Bill To Set Up Bitcoin Reserve With 5-Year Holding Period

Crusoe, a vertically integrated <a href="Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.">artificial intelligence infrastructure provider</a>, secured $600 million in Series D funding led by Peter Thiel&#8216;s Founders Fund, valuing the company at $2.8 billion. The round included participation from Fidelity, NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), and other investors, the company announced on Thursday.
What Happened: The investment marks Founders Fund&#8217;s latest significant technology bet, following its recent $200 million cryptocurrency investment split between Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/39936042/peter-thiel-founders-fund-lead-11m-investment-in-pudgy-penguins-parent-company-excited-to-">earlier this year</a>.
&#8220;The biggest risk with AI is that we don&#8217;t go big enough. Crusoe is here to liberate us from the island of limited ambition,&#8221; Thiel said in a statement.
Crusoe, founded in 2018, differentiates itself by using waste <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41616040/peter-thiels-founders-fund-leads-500m-fundraise-in-waste-gas-powered-ai-cloud-start-up">natural gas from oilfields</a> to power its data centers, addressing both environmental concerns and the growing demand for AI computing resources. 
See Also: <a href="https://www.benzinga.com/24/12/42476184/jeff-van-drew-calls-out-pentagon-for-hiding-information-about-mysterious-new-jersey-drones-national-security-crisis-we-cannot-ignore">Jeff Van Drew Calls Out Pentagon For Hiding Information About Mysterious New Jersey Drones: &#8216;National Security Crisis We Cannot Ignore&#8217;</a>
Why It Matters: The company recently announced plans for a new data center in Abilene, Texas, projected to add $1 billion to the local economy over 20 years and create more than 800 jobs. The facility will feature over 1.2 gigawatts of capacity, making it one of the world&#8217;s largest high-performance computing clusters.
Crusoe CEO Chase Lochmiller said, &#8220;To reduce complexity, accelerate time-to-value, and support the most demanding AI solutions, customers need a vertically integrated approach.&#8221;
The funding announcement coincides with the general availability launch of Crusoe Cloud, the company&#8217;s high-performance cloud platform designed for AI and machine learning workloads. Customer count grew more than sevenfold in the past year, according to company data.
Founders Fund&#8217;s portfolio includes both past and current investments in notable companies such as SpaceX, Palantir, Stripe, Neuralink, OpenAI, The Boring Company, and Polymarket.
Read Next: 
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<li><a href="https://www.benzinga.com/news/management/24/12/42454797/jeff-bezoss-leadership-style-at-amazon-former-vp-reveals-how-founders-disagree-and-commit-philosophy-drove-24-trillion-valuation">Jeff Bezos Prefers Confrontation Over Quick Compromises, Reveals Former VP, Says &#8216;Disagree And Commit&#8217; Philosophy Led To Amazon&#8217;s Growth</a></li>
</ul>
Image via Wikimedia Commons
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Startups

$ETH

NVDA

Peter Thiel Says, 'The Biggest Risk With AI Is That We Don't Go Big Enough' As His Founders Fund Leads $600 Million Crusoe Investment

The U.S. stock market experienced a downturn today, with the Nasdaq Composite declining over 130 points. The Dow Jones Industrial Average saw a dip of 0.5%, closing at 43,914.12, while the S&amp;P 500 also decreased by 0.5% to 6,051.25. Initial <a href="https://www.benzinga.com/24/12/42464623/nasdaq-down-50-points-us-initial-jobless-claims-rise">jobless claims in the U.S.</a> rose by 17,000, surpassing market expectations.
These are the top stocks that gained the attention of retail traders and investors throughout the day:
Costco Wholesale Corporation&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COST#NASDAQ">COST</a>)
Costco&#8217;s stock closed down 0.63% at $988.39, reaching an intraday high of $1002.47 and a low of $987.21. The stock&#8217;s 52-week range is $1007.80 to $631. The company reported strong&nbsp;<a href="https://www.benzinga.com/news/earnings/24/12/42473288/costco-q1-earnings-revenue-beat-eps-beat-comps-up-52-membership-fee-growth-and-more">first-quarter earnings</a>, with revenue of $62.15 billion, surpassing the consensus estimate. Adjusted earnings per share came in at $3.82, exceeding analyst expectations.
Broadcom Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>)
Broadcom shares fell 1.39% to close at $180.66, with a high of $182 and a low of $175.99. Its 52-week range is $186.42 to $102.46. The company posted&nbsp;<a href="https://www.benzinga.com/news/earnings/24/12/42472970/broadcom-reports-mixed-q4-results-eps-beat-revenues-miss-q1-guidance-in-line-with-estimates">mixed fourth-quarter results</a>, with earnings per share beating estimates but revenue slightly missing expectations. The company reported a non-GAAP net income of $6.965 billion.
Celsius Holdings, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CELH#NASDAQ">CELH</a>)
Celsius Holdings saw a significant rise of 7.49%, closing at $31.99, with an intraday high of $32.12 and a low of $30.12. Its 52-week range is $99.62 to $25.23. A JP Morgan analyst initiated coverage with an Overweight rating, highlighting its <a href="https://www.benzinga.com/24/12/42467253/celsius-gets-overweight-rating-from-jp-morgan-with-spotlight-on-consumer-trends-market-share-potential-and-unique-brand-edge">strong position</a> in the energy drink market and potential for growth.
Meta Platforms Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>)
Meta&#8217;s stock decreased by 0.30%, closing at $630.79, with a high of $636.66 and a low of $627.21. The 52-week range is $638.40 to $331.22. CEO Mark Zuckerberg sold <a href="https://www.benzinga.com/24/12/42454694/meta-ceo-mark-zuckerberg-sells-88m-in-shares-amid-stocks-2024-surge-of-82">$88 million worth of shares</a> recently, amid the company&#8217;s impressive 82% surge in 2024.
Tesla Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)
Tesla shares dropped 1.57% to $418.10, reaching a high of $429.30 and a low of $415. The 52-week range is $429.30 to $138.80. An analyst from Wedbush Securities projected Tesla could reach a <a href="https://www.benzinga.com/24/12/42455654/wedbush-securities-sees-tesla-touching-2-trillion-market-cap-by-2025-end-apple-microsoft-nvidia-to-join-4-trillion-market-cap-club-next-year-says-analyst">$2 trillion market cap by 2025</a>, driven by its autonomous and Cybercab initiatives.
Image via Shutterstock
Prepare for the day&#8217;s trading&nbsp;<a href="https://editorial.benzinga.com/wp-admin/Premarket%20Movers%20&amp;%20News">with top premarket movers and news</a>&nbsp;by Benzinga.
Read Next: 
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<li><a href="https://www.benzinga.com/24/12/42476412/bitcoin-dogecoin-slide-ethereum-gains-amid-hotter-than-expected-inflation-data-top-analyst-makes-bullish-forecast-for-altcoin-investors">Bitcoin, Dogecoin Slide, Ethereum Gains Amid Hotter-Than-Expected Inflation Data: Top Analyst Says Its &#8216;Onwards And Upwards&#8217; For Altcoins</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>

Equities

AVGO

CELH

COST

TSLA

Costco, Broadcom, Celsius Holdings, Meta Platforms, Tesla: Why These 5 Stocks Are On Investors' Radars Today

On Thursday, Cathie Wood-led Ark Invest made significant trading decisions involving Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) and Archer Aviation Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACHR#NYSE">ACHR</a>).
The Tesla Trade
Ark Invest&#8217;s ARK Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKK#NYSE">ARKK</a>) and ARK Autonomous Technology &amp; Robotics ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKQ#BATS">ARKQ</a>) reduced their holdings in Tesla Inc. by selling 34,823 and 1,777 shares, respectively. This move follows a period where Tesla&#8217;s stock has been on a remarkable upswing, reaching new highs. The shares were sold at a closing price of $418.10, totaling approximately $15.3 million in value. 
The decision to trim Tesla holdings comes amid a broader market rally, with analysts raising price targets for the electric vehicle leader. Notably, Thursday marked the <a href="https://www.benzinga.com/24/12/42452421/cathie-woods-ark-invest-trims-tesla-exposure-amid-searing-rally-sells-21-8m-worth-of-stock-bets-on-this-ai-medical-company">second consecutive day</a> when Ark sold Tesla shares. On Wednesday the firm had sold $21.8 million worth of stock.
As reported, Tesla&#8217;s stock has been buoyed by favorable market conditions, including potential interest rate cuts by the Federal Reserve. This strategic reduction in Tesla shares aligns with Ark Invest&#8217;s approach to capitalize on high valuations and reallocate capital to other promising opportunities.
The Archer Aviation Trade
Ark Invest significantly increased its stake in Archer Aviation Inc. through ARKK, ARKQ, and ARK Space Exploration &amp; Innovation ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKX#BATS">ARKX</a>). The funds collectively acquired 5,080,595 shares. With Archer&#8217;s shares closing at $7.17, the total investment amounts to approximately $36.5 million.
This substantial investment in Archer Aviation comes on the heels of the company&#8217;s announcement of a <a href="https://www.benzinga.com/24/12/42464770/whats-going-on-with-archer-aviation-stock-today">new partnership</a> with Anduril Industries to develop a hybrid VTOL aircraft for defense applications. Additionally, Archer has raised $430 million in equity, bolstering its financial position for future growth.
Recently, Archer Aviation also partnered with key UAE entities to <a href="https://www.benzinga.com/news/global/24/12/42365072/why-archer-aviation-stock-is-gaining-today">pioneer eVTOL air taxis</a> in Abu Dhabi, targeting a 2026 launch.
Other Key Trades:
<ul>
<li>Purchased Tempus AI Inc. shares via ARK Innovation ETF and ARK Genomic Revolution ETF .</li>
<li>Acquired Symbotic Inc. shares through ARK Autonomous Technology &amp; Robotics ETF .</li>
<li>Sold Veeva Systems Inc. shares via ARK Genomic Revolution ETF.</li>
<li>ARK Space Exploration &amp; Innovation ETF sold Rocket Lab USA Inc. shares.</li>
</ul>
Image via Benzinga YouTube Unsplash
Read Next: 
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<li><a href="https://www.benzinga.com/news/global/24/12/42475000/if-trump-starts-a-trade-war-canada-could-impose-export-taxes-on-oil-uranium-report">If Trump Starts A Trade War, Canada Could Impose Export Taxes On Oil, Uranium: Report</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

ACHR

ARKK

ARKQ

ARKX

Cathie Wood's Ark Invest Dumps Another $15.3 Million Tesla Shares, Pivots To This Flying Taxi Startup

President-elect Donald Trump acknowledged market volatility risks while discussing economic plans with CNBC&#8217;s Jim Cramer at the New York Stock Exchange on Thursday while <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42466189/trump-talks-stocks-bitcoin-ai-economy-with-jim-cramer-youre-going-to-see-some-very-good-days-ahead">suggesting future cryptocurrency initiatives</a>.
What Happened: &#8220;A dip can always happen,&#8221; Trump told Cramer during a trading floor <a href="https://www.youtube.com/watch?v=_8d-2QVdtag">interview</a>, avoiding specific market predictions. He emphasized his administration&#8217;s pre-pandemic economic performance and outlined broad plans for future growth.
The conversation touched on Trump&#8217;s relationships with major tech leaders, including Meta Platforms Inc. CEO Mark Zuckerberg and Tesla Inc. CEO Elon Musk. Trump said Amazon.com Inc. founder Jeff Bezos would be meeting with him next week.
See Also: <a href="https://www.benzinga.com/economics/macro-economic-events/24/12/42471357/egg-hyperinflation-could-spike-grocery-prices-why-cal-maine-vital-farms-are-soaring">Egg Hyperinflation Could Spike Grocery Prices: Why Cal-Maine, Vital Farms Are Soaring</a>
Why It Matters: Trump emphasized his vision for workforce development, calling for &#8220;fantastic jobs, great salaries, and a thriving workforce,&#8221; while referencing his administration&#8217;s pre-COVID economic performance.
&#8220;We&#8217;re gonna do something great with crypto,&#8221; Trump stated, marking a shift from his previously skeptical stance on digital currencies. The former president highlighted his evolution from Washington outsider to having extensive connections, saying &#8220;I know people—so many people that they&#8217;re practically coming out of my ears!&#8221;
The interview follows Trump&#8217;s ceremonial ringing of the NYSE opening bell.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/economics/macro-economic-events/24/12/42473889/china-eyes-yuan-devaluation-to-counter-trumps-tariffs-will-it-work">China Eyes Yuan Devaluation To Counter Trump&#8217;s Tariffs: Will It Work?</a></li>
</ul>
Image courtesy of the NYSE
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Global

Trump Gives A Nod To Market Volatility, Tells Cramer 'A Dip Can Always Happen'

Bitcoin gave up early gains, but Ethereum was on the move on Thursday as fresh inflation data slashed expectations of interest rate cuts.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 7:30 p.m. ET)</td>
</tr>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>-0.59%</td>
<td>$100,315.71</td>
</tr>
<tr>
<td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>+1.89%</td>
<td>$3,900.97</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>-0.80%</td>
<td>$0.4088</td>
</tr>
</tbody>
</table>
</figure>
What Happened: Bitcoin soared to $102,250 in early trading after President-elect Donald Trump <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42466189/trump-talks-stocks-bitcoin-ai-economy-with-jim-cramer-youre-going-to-see-some-very-good-days-ahead">shared positive thoughts</a> on the cryptocurrency after ringing the New York Stock Exchange opening bell.&nbsp;
However, profit-takers took control as the digital asset reversed direction, plunging below $99,000 in the next two hours.
Ethereum maintained a healthier trajectory, rising to an intraday high of $3,986 before a pullback to $3,837.
Total cryptocurrency liquidations exceeded $318 million in the last 24 hours, with nearly $200 million in upside bets getting erased.
Bitcoin's Open Interest rose by 1.36% in the last 24 hours. A rise in OI, coinciding with a price drop, indicated an increase in short positions.
The Long/Short Ratio lent credence to this narrative, as downside bets surpassed bullish bets over the last 24 hours.
Market sentiment cooled from 83 to 76, as per the Cryptocurrency Fear &amp; Greed Index, although the "Extreme Greed" mood remained dominant.
Top Gainers (24-Hours)
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 7:30 p.m. ET)</td>
</tr>
<tr>
<td>Aave (AAVE)</td>
<td>+21.61%</td>
<td>$367.57</td>
</tr>
<tr>
<td>Chainlink (LINK)</td>
<td>+20.96%</td>
<td>$29.13</td>
</tr>
<tr>
<td>Lido DAO (LDO)</td>
<td>+18.04%</td>
<td>$2.25</td>
</tr>
</tbody>
</table>
</figure>
The global cryptocurrency market capitalization stood at $3.6 trillion, following a marginal contraction of 0.24% over the last 24 hours.
Stocks tumbled on Thursday. The Dow Jones Industrial Average slid 234.44 points, or 0.53%, to close at 43,914.12. The S&amp;P 500 fell 0.54%, ending at 6,051.25, while the tech-focused Nasdaq Composite came down 0.66% from its record close Wednesday, closing the session at 19,902.84.
<a href="https://www.benzinga.com/news/treasuries/24/12/42460477/producer-inflation-rises-more-than-expected-to-3-in-november-cast-shadow-on-further-disinflation-progress">Hotter-than-expected wholesale inflation data</a> preceded the decline, as the producer price index rose 0.4% in November, higher than the forecasted figure of 0.2%.
This follows the consumer price index data released a day earlier that <a href="https://www.benzinga.com/economics/macro-economic-events/24/12/42436676/inflation-rises-as-expected-in-november-sustain-hopes-for-next-weeks-fed-interest-rate-cut">matched analyst's expectations</a>
Traders priced in a 96.4% chance of a 25 basis point rate cut in next week's Federal Reserve, down from 97% a day before, per <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">CME FedWatch</a> data.
See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>
Analyst Notes: Chris Kline, COO &amp; Co-Founder at BitcoinIRA, said in a note to Benzinga, "Price volatility continues to be a significant factor in market discovery, with the Consumer Price Index not decelerating as rapidly as anticipated, which is negatively impacting dollar strength."
"Additionally, Microstrategy&#8217;s strategic move to the Nasdaq 100 is expected to generate substantial investment inflows as well as the Trump Administration's bullish sentiment on crypto and the appointment of pro-crypto cabinet members," Kline added.&nbsp;
Widely followed cryptocurrency analyst and trader Michaël van de Poppe noted that altcoin market capitalization has bottomed out.
"There is a bullish divergence and a strong move upwards, which suggests that we&#8217;re likely just making a higher low here. Onwards and upwards," he projected.
<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 <a href="https://twitter.com/hashtag/Altcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Altcoin</a> market capitalization (OTHERS) has bottomed out. There is a bullish divergence and a strong move upwards, which suggests that we&#39;re likely just making a higher low here. Onwards and upwards. <a href="https://t.co/bxu5Mk4XnY">pic.twitter.com/bxu5Mk4XnY</a>
&mdash; Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1867309197840527860?ref_src=twsrc%5Etfw">December 12, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Photo by SvetlanaParnikova on Shutterstock
Read Next:    
<ul>
<li><a href="https://www.benzinga.com/24/12/42470335/if-you-invested-1000-in-xrp-token-when-ashton-kutcher-surprised-ellen-degeneres-with-4m-charity-donation-heres-how-much-youd-have-today">If You Invested $1,000 In XRP Token When Ashton Kutcher Surprised Ellen DeGeneres With $4 Million Charity Donation, Here&#8217;s How Much You&#8217;d Have Today</a></li>
</ul>

Movers

Trading Ideas

$DOGE

Bitcoin, Dogecoin Slide, Ethereum Gains Amid Hotter-Than-Expected Inflation Data: Top Analyst Says Its 'Onwards And Upwards' For Altcoins

On Thursday, Rep. Jeff Van Drew (R-N.J.) called out the Pentagon for allegedly hiding information about unidentified drones spotted near military locations in New Jersey.
What Happened: The representative said, &#8220;We aren't being told the truth.&#8221; He went on to say in a Fox News interview that &#8220;they are dealing with the American public like we're stupid.&#8221;
Van Drew suggested that these car-sized drones might be linked to an Iranian &#8220;mothership,&#8221; <a href="https://www.politico.com/news/2024/12/12/new-jersey-drones-pentagon-00193985">reported</a> Politico. The Pentagon, however, denied these claims, stating there was no Iranian ship off the U.S. coast launching drones. Sabrina Singh, the Defense Department&#8217;s spokesperson, did not provide an explanation for the drone activity.
Van Drew later toned down his claims, stating there was a &#8220;real possibility&#8221; the drones could be Iranian or Chinese. He referred to sources with security clearances as &#8220;whistleblowers&#8221;, but did not provide any evidence to support his claims. 
In a post on X, he called the drone sightings &#8220;a national security crisis we cannot ignore.&#8221; Van Drew shared a clip of the Fox News interview in which he can be heard urging that the drones be shot down. 
<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">What we've uncovered is alarming—drones flying in from the direction of the ocean, possibly linked to a missing Iranian mothership. This is a national security crisis we cannot ignore. Bring them down now. <a href="https://t.co/YicWkcoJR1">pic.twitter.com/YicWkcoJR1</a>
&mdash; Congressman Jeff Van Drew (@Congressman_JVD) <a href="https://twitter.com/Congressman_JVD/status/1866906922210955465?ref_src=twsrc%5Etfw">December 11, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Gov. Phil Murphy (D) of New Jersey rejected Van Drew&#8217;s claims, advocating for a fact-based approach to understanding the situation, rather than spreading fear, according to Politico.
The drone sightings, described as up to &#8220;six feet in diameter&#8221; and undetectable by radio frequency monitoring, follow similar reports over U.S. military installations in Virginia and the United Kingdom, raising national security concerns.
See Also: <a href="https://www.benzinga.com/media/24/12/42407739/trump-announces-plans-to-have-dinner-with-amazon-founder-jeff-bezos-as-billionaire-rivals-turn-unexpected-allies-after-years-of-clashes?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Announces Plans To Have Dinner With Amazon Founder Jeff Bezos As Billionaire Rivals Turn Unexpected</a>
Why It Matters: Sen. Richard Blumenthal (D-Conn.) also reacted to the mysterious drones. &#8220;We should be doing some very urgent intelligence analysis and take them out of the skies, especially if they're flying over airports or military bases,&#8221; said the Connecticut senator, according to a <a href="https://apnews.com/article/fbi-drones-new-jersey-8bfe84cf2678400181292b75f9193395">report</a> by the Associated Press. 
While some sightings may be misidentified aircraft, investigations by federal and state agencies continue, with no reported evidence of national security threats or foreign involvement confirmed.
The drone sightings come amidst a shift in military aviation. Elon Musk has highlighted that drones offer <a href="https://www.benzinga.com/general/24/06/39160140/elon-musk-on-future-warfare-putting-humans-in-aircraft-just-slows-them-down">significant advantages</a> over manned aircraft in terms of speed, safety, and technological capabilities, making them the preferred choice in critical situations.
Musk, Donald Trump&#8217;s pick to co-lead the Department of Government Efficiency, criticized Lockheed Martin&#8217;s F-35 stealth fighter program, advocating for the use of drones over manned jets.
Image via Pixabay
Did You Know?
<ul>
<li>Congress Is Making Huge Investments. <a href="https://www.benzinga.com/gov-trades">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</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>

Politics

General

Jeff Van Drew Calls Out Pentagon For Hiding Information About Mysterious New Jersey Drones: 'National Security Crisis We Cannot Ignore'

DBGI

Trading Halt: Halted at 7:50:00 p.m. ET - Trading Halt: Halt News Pending

MNTS

BLUE

MLGO

MNTSW

DBGIW

Eli Lilly (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>) has outperformed the market over the past 10 years by 15.66% on an annualized basis producing an average annual return of 27.25%. Currently, Eli Lilly has a market capitalization of $742.84 billion. 
Buying $100 In LLY: If an investor had bought $100 of LLY stock 10 years ago, it would be worth $1,129.58 today based on a price of $782.50 for LLY at the time of writing.
<h3>Eli Lilly's Performance Over Last 10 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1734047115_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

If You Invested $100 In This Stock 10 Years Ago, You Would Have This Much Today

Ares Management (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARES#NYSE">ARES</a>) has outperformed the market over the past 5 years by 26.55% on an annualized basis producing an average annual return of 40.14%. Currently, Ares Management has a market capitalization of $36.89 billion. 
Buying $1000 In ARES: If an investor had bought $1000 of ARES stock 5 years ago, it would be worth $5,424.16 today based on a price of $182.74 for ARES at the time of writing.
<h3>Ares Management's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1734046207_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

ARES

$1000 Invested In Ares Management 5 Years Ago Would Be Worth This Much Today

Fixed-rate mortgage rates have steadily declined, marking a third consecutive week of decrease. Freddie Mac's data shows that 30-year <a href="https://www.benzinga.com/money/mortgages">fixed-rate mortgage</a> now averages 6.60%, significantly lower than the 6.95% rate from a year ago.
"The combination of mortgage rate declines, firm consumer income growth, and a bullish stock market have increased homebuyer demand in recent weeks. While the outlook for the housing market is improving, the improvement is limited given that homebuyers continue to face stiff affordability headwinds," <a href="https://freddiemac.gcs-web.com/news-releases/news-release-details/mortgage-rates-continue-drop-3">noted</a> Sam Khater, Freddie Mac's chief economist.
Fixed-rate mortgages are crucial for many homebuyers, particularly first-time buyers because they offer predictability. Since the interest rate remains constant throughout the loan term, borrowers know their monthly payments regardless of market conditions, making for easier financial planning and buying peace of mind. If these rates continue to drop, this development could make homeownership more accessible, stimulating sales.
<a href="https://www.nar.realtor/research-and-statistics/housing-statistics/existing-home-sales">Recent data</a> reveals that the U.S. housing market is showing signs of recovery. Existing home sales rose 3.5% in October 2024, rebounding from a 14-year low and surpassing market expectations.
However, the median home sales price increased by 4% to $407,200, outpacing November&#8217;s 2.7% inflation rate. While Khater warned about these dynamics, home prices typically rise faster than inflation, which is one reason they were excluded from the Consumer Price Index (CPI) calculation in 1983.
Falling mortgage rates support optimism for the market, which suffered high borrowing costs earlier this year. Furthermore, the National Association of Realtors Chief Economist Lawrence Yun noted increased inventory could further bolster home sales, with job growth and economic expansion supporting growing housing demand.
Still, the home construction market offered mixed results, as shown by broad market ETFs. The iShares U.S. Home Construction ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ITB#BATS">ITB</a>) returned 14.66% year-to-date, while the SPDR S&amp;P Homebuilders ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XHB#NYSE">XHB</a>) fared better at 23.06%. The Invesco Building &amp; Construction ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PKB#NYSE">PKB</a>) outperformed with 31.86% — however, it is worth noting that it is by far the smallest and most expensive of the group.
Two notable stocks in the sector performed similarly. KB Home (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KBH#NYSE">KBH</a>) has clocked a solid yet underperforming 18.52% return year-to-date. It trades at 8.9x its earnings, significantly lagging the peer average 21.1x.  Meanwhile, Toll Brothers Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TOL#NYSE">TOL</a>) outperformed, climbing 37.39% year-to-date. Still, the firm trades cheaper than its peers at 8.8x its earnings. Following the <a href="https://www.benzinga.com/news/earnings/earnings-beats/24/12/42418066/toll-brothers-investors-may-be-disappointed-with-guidance-analysts-say-after-q4-earnings">latest earnings results</a>, Oppenheimer and JPMorgan reiterated an Outperform and Overweight rating, citing robust demand but warning about the gross-margin guidance for the first quarter of fiscal 2025.
Read Next: • <a href="https://www.benzinga.com/economics/macro-economic-events/24/12/42471357/egg-hyperinflation-could-spike-grocery-prices-why-cal-maine-vital-farms-are-soaring">Egg Hyperinflation Could Spike Grocery Prices: Why Cal-Maine, Vital Farms Are Soaring</a>
Photo: Shutterstock

Sector ETFs

Economics

Real Estate

iShares Dow Jones US Homenstruction Index Fund

PowerShares ETF Trust Dynamic Building &nstruction Portfolio

Mortgage Rates Drop Present Opportunities For Homebuilders

Republic Servs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RSG#NYSE">RSG</a>) has outperformed the market over the past 20 years by 3.58% on an annualized basis producing an average annual return of 11.99%. Currently, Republic Servs has a market capitalization of $65.80 billion. 
Buying $100 In RSG: If an investor had bought $100 of RSG stock 20 years ago, it would be worth $973.73 today based on a price of $210.13 for RSG at the time of writing.
<h3>Republic Servs's Performance Over Last 20 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1734045311_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

$100 Invested In Republic Servs 20 Years Ago Would Be Worth This Much Today

Teledyne Technologies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TDY#NYSE">TDY</a>) has outperformed the market over the past 10 years by 5.7% on an annualized basis producing an average annual return of 17.29%. Currently, Teledyne Technologies has a market capitalization of $22.32 billion. 
Buying $100 In TDY: If an investor had bought $100 of TDY stock 10 years ago, it would be worth $491.95 today based on a price of $478.96 for TDY at the time of writing.
<h3>Teledyne Technologies's Performance Over Last 10 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1734044409_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Here's How Much You Would Have Made Owning Teledyne Technologies Stock In The Last 10 Years

Canada is considering export taxes on goods, including uranium, oil and potash, if President-elect Donald Trump imposes the broad<a href="https://www.benzinga.com/news/global/24/12/42451262/canadian-oil-sector-hedges-trump-tariff-risk-us-midwest-refineries-could-be-affected"> tariffs he pledged. </a>
The Details: According to a Bloomberg <a href="https://www.bloomberg.com/news/articles/2024-12-12/canada-weighs-export-taxes-on-uranium-oil-if-trump-starts-trade-war?srnd=homepage-americas">report</a>, retaliatory tariffs on U.S.-made goods and export controls on certain Canadian products are most likely, with export levies also on the table as a last resort. The Bloomberg report cited officials familiar with discussions inside Prime Minister Justin Trudeau's government.&nbsp;
The sources also said Trudeau's government may consider expanding its powers over export controls as part of a scheduled update on the country's fiscal and economic conditions.&nbsp;
Why It Matters: U.S. oil refineries, especially in the Midwest, rely heavily on Canadian crude oil imports. Export levies would increase the cost of imported Canadian oil and potentially squeeze refinery margins. Some of the largest oil refiners in the U.S. are Marathon Petroleum Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MPC#NYSE">MPC</a>) and Valero Energy Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VLO#NYSE">VLO</a>). 
Read Next: <a href="https://www.benzinga.com/news/global/24/12/42451262/canadian-oil-sector-hedges-trump-tariff-risk-us-midwest-refineries-could-be-affected">Canadian Oil Sector Hedges Trump Tariff Risk, US Midwest Refineries Could Be Affected</a>
Canadian export taxes on uranium could be devastating to U.S. nuclear energy producers with Canada supplying about a quarter of the uranium U.S. producers use for their nuclear reactors.&nbsp;
Constellation Energy Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CEG#NASDAQ">CEG</a>), the largest owner of non-rate-regulated nuclear plants in the U.S., and Duke Energy Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DUK#NYSE">DUK</a>), which operates 11 nuclear units in North and South Carolina, could face supply disruptions as domestic uranium production is virtually nonexistent. The companies could pass along the increased costs to consumers in areas served by nuclear power plants.
American farmers rely heavily on imports of Canadian potash as a source of fertilizer. If Canada imposes export levies on potash,&nbsp;several American farm-related stocks could be affected due to the reliance of U.S. agriculture on the fertilizer.
Companies tied to crops heavily dependent on potash, such as soybeans, corn, sugar beets and potatoes could see increased costs. These companies include Archer-Daniels-Midland Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ADM#NYSE">ADM</a>) and Bunge Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BG#NYSE">BG</a>). Food producers, like General Mills, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GIS#NYSE">GIS</a>) and Kellanova (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/K#NYSE">K</a>) may face higher input costs for agricultural products reliant on potash fertilizers and could pass those costs along to consumers.
Read Next:&nbsp;
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<li><a href="https://www.benzinga.com/24/12/42370672/sofi-makes-spacex-accessible-for-retail-investors">SoFi Unlocks SpaceX Exposure For Retail Investors: Here&#8217;s How</a></li>
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Image: Shutterstock

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