Latest news for  (OTC:ICBGF) Stock

Former Stellantis (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STLA#NYSE">STLA</a>) executive Tim Kuniskis is reportedly returning to the company to lead its Ram Trucks brand merely days after Carlos Tavares <a href="https://www.benzinga.com/news/management/24/12/42258470/jeep-marker-stellantis-ceo-carlos-tavares-resigns-amid-falling-us-sales-and-trade-pressures-board-cites-different-views">resigned as company CEO</a>. 
What Happened: Kuniskis retired from the company in May after leading both Ram and Dodge. However, he is now returning to lead Ram, CNBC <a href="https://www.cnbc.com/2024/12/09/ex-dodge-ram-boss-tim-kuniskis-returning-to-stellantis-.html">reported</a>, citing two people familiar with the matter. 
Chris Feuell, who had been leading Ram and Chrysler brands will now oversee Ram and Alfa Romeo, the report said. Alfa Romeo for North America chief Larry Dominique, meanwhile, will depart. 
<a href="https://pro.benzinga.com/dashboard">Benzinga</a> has reached out to Stellantis for comment but is yet to receive a response as of the time of publishing this story.
Why It Matters: Tavares resigned from the company earlier this month following the company&#8217;s <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/12/42273230/stellantis-market-value-halves-in-2024-why-ceo-tavares-exit-could-take-things-from-bad-to-worse">struggles with sales in the U.S. market</a>. Stellantis then said that it is in the process of appointing a new permanent CEO which will close by the first half of 2025.
In the third quarter, Stellantis&#8217; volumes of vehicles delivered to dealers, distributors, or directly to retail and fleet customers in North America declined by about 170,000 units, or about 36%, compared to the corresponding period last year.
Net revenue from the region subsequently fell by 42% to 12.4 billion euros (approx. $13.10 billion.)
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>
Read Next:
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<li><a href="https://www.benzinga.com/tech/24/12/42385874/tesla-reduces-supercharging-prices-to-accelerate-ev-adoption-amid-slowing-demand">Tesla Reduces Supercharging Prices To Accelerate EV Adoption Amid Slowing Demand</a></li>
</ul>
Photo courtesy: Stellantis

News

Tech

STLA

Tim Kuniskis To Return To Lead Ram Trucks Days After Stellantis CEO's Departure: Report

Popular cryptocurrency trader and analyst Ali Martinez took Dogecoin's (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) fall in stride, saying on Monday that he would use it to buy more of the leading meme coin.
What happened: Martinez, known for spotting chart patterns and projecting the next moves of leading cryptocurrencies, said he was "thankful" for the dip as it was still very early in the DOGE bull cycle.
"I&#8217;m thankful for the dip and will buy more between $0.40-$0.30. The target remains $3, and if things go wild, $18," the analyst said, sticking to his bullish approach.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Check out where we are in the <a href="https://twitter.com/hashtag/Dogecoin?src=hash&amp;ref_src=twsrc%5Etfw">#Dogecoin</a> <a href="https://twitter.com/search?q=%24DOGE&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$DOGE</a> bull cycle! Very early, right? For that reason, I&#39;m thankful for the dip and will buy more between $0.40-$0.30. The target remains $3, and if things go wild, $18! <a href="https://t.co/jdPODkxgHe">pic.twitter.com/jdPODkxgHe</a>
&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1866244683661283586?ref_src=twsrc%5Etfw">December 9, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42382883/ark-invests-cathie-wood-hails-bitcoins-100k-climb-as-a-big-deal-labels-apex-crypto-as-gold-substitute-and-emerging-reserve-currency">Ark Invest&#8217;s Cathie Wood Hails Bitcoin&#8217;s $100K Climb As A &#8216;Big Deal,&#8217; Labels Apex Crypto As Gold Substitute And Emerging Reserve Currency</a>
Another widely followed analyst on X, Jake Wujastyk, stated that the latest dip helped flush out the excess leverage, opening the door for a new upside for the dog-themed cryptocurrency.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/Dogecoin?src=hash&amp;ref_src=twsrc%5Etfw">#Dogecoin</a> A little flush to clear out the leverage. Probably best before a new upside move starts. <a href="https://twitter.com/search?q=%24DOGE&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$DOGE</a> <a href="https://t.co/Mz9FpoaqkL">pic.twitter.com/Mz9FpoaqkL</a>
&mdash; Jake Wujastyk (@Jake__Wujastyk) <a href="https://twitter.com/Jake__Wujastyk/status/1866264412413129089?ref_src=twsrc%5Etfw">December 9, 2024</a></blockquote>
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Indeed, DOGE's Open Interest-weighted funding rate cooled from 0.08% to 0.0024% in the last 24 hours, per <a href="https://www.coinglass.com/FundingRate">data </a>from Coinglass.
Moreover, the number of accounts on Binance taking long positions on DOGE increased sharply vis-à-vis those betting against the cryptocurrency, according to the Long/Shorts Ratio.
Why It Matters: The aforementioned bullish remarks come amid a<a href="https://www.benzinga.com/trading-ideas/movers/24/12/42404450/bitcoin-ethereum-dogecoin-recover-losses-after-flash-crash-analyst-pinpoints-critical-btc-support-levels"> broader slump</a> in the market that pulled DOGE down by more than 10%.&nbsp;
The meme coin's trading volume surged by 93% in the last 24 hours, indicating that rampant selling was going on.
Additionally, large transactions also surged by 41%, per <a href="https://app.intotheblock.com/">data </a>from IntoTheBlock, while long-term holder balance dipped by 0.88%.
Price Action: As of this writing, Dogecoin was trading at $0.4034, down 2.85% 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>. 
Read Next:&nbsp;
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<li><a href="https://www.benzinga.com/24/12/42382133/amazon-shareholders-propose-adding-bitcoin-to-treasury-for-best-long-term-interest-cite-microstrategy-as-example">Amazon Shareholders Propose Adding Bitcoin To Treasury For &#8216;Best&#8217; Long-Term Interest, Cite Michael Saylor&#8217;s MicroStrategy As Example</a></li>
</ul>

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

Cryptocurrency

Markets

$DOGE

Dogecoin Can Touch $18 If Things 'Go Wild,' Says Influential Crypto Trader: 'Thankful For The Dip And Will Buy More'

The CNN Money Fear and Greed index showed a decline in the overall market sentiment, while the index remained in the &#8220;Neutral&#8221; zone on Monday.
U.S. stocks settled lower on Monday, with the S&amp;P 500 and Nasdaq Composite retreating from record highs amid a decline in tech stocks.
The S&amp;P 500 and Nasdaq recorded gains for the third straight week, gaining 0.96% and 3.34%, respectively. However, the Dow lost 0.6% during the week.
Shares of Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) fell around 2.6% on Monday after a Chinese regulator said it was investigating the chipmaker over a possible breach of the country's antitrust regulations. Advanced Micro Devices, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) shares dipped around 5.6% after B of A Securities downgraded the stock from Buy to Neutral and lowered its price target from $180 to $155.
On the economic data front, U.S. wholesale inventories increased by 0.2% month-over-month to $905 billion in October, which is in line with the preliminary reading and compared to a 0.2% decline in the previous month.
Most sectors on the S&amp;P 500 closed on a negative note, with financial, utilities, and communication services stocks recording the biggest losses on Monday. However, healthcare and real estate stocks bucked the overall market trend, closing the session higher.
The Dow Jones closed lower by over 240 points to 44,401.93 on Monday. The S&amp;P 500 fell 0.61% to 6,052.85, while the Nasdaq Composite dipped 0.62% to close at 19,736.69 during Monday's session.
Investors are awaiting earnings results from United Natural Foods, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNFI#NYSE">UNFI</a>), AutoZone, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AZO#NYSE">AZO</a>), and G-III Apparel Group, Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GIII#NASDAQ">GIII</a>) today.
What is CNN Business Fear &amp; Greed Index?
At a current reading of 49.5, the index remained in the &#8220;Neutral&#8221; zone on Monday, versus a prior reading of 52.5.
The Fear &amp; Greed Index is a measure of the current market sentiment. It is based on the premise that higher fear exerts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equal-weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness.
Read Next: 
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</ul>
Photo courtesy: Shutterstock

Earnings

Pre-Market Outlook

Trading Ideas

GIII

NVDA

UNFI

S&P 500, Nasdaq Retreat From Record Highs As Nvidia Declines Over Chinese Antitrust Concerns: Fear & Greed Index Remains In 'Neutral' Zone

Macro Economic Events

Econ #s

Economics

Reported Earlier, China Exports (YoY) For November 6.7% Vs. 8.5% Est.; 12.7% Prior

Reported Earlier, China Imports (YoY) For November -3.9% Vs. 0.3% Est.; -2.3% Prior

Reported Earlier, China Trade Balance (USD) For November 97.44B Vs. 94.00B Est.; 95.27B Prior

Reported Earlier, Australia Interest Rate Decision For December Unchanged At 4.35%

Morgan Stanley Smith Barney LLC has agreed to pay a $15 million penalty to settle Securities and Exchange Commission charges for failing to prevent four financial advisors from stealing millions in client funds, the SEC announced Monday.
What Happened: Morgan Stanley&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>) wealth management division, which underwent a name change from Morgan Stanley Smith Barney to Morgan Stanley Wealth Management in 2012, faced scrutiny over its supervisory practices spanning from 2015 to 2022. 
The SEC&#8217;s investigation revealed the firm lacked adequate policies to detect unauthorized transfers from client accounts, particularly through Automated Clearing House payments and specific cash wire transfers.
&#8220;Safeguarding investor assets is a fundamental duty of every financial services firm,&#8221; said Sanjay Wadhwa, Acting Director of the SEC&#8217;s Division of Enforcement, noting that Morgan Stanley&#8217;s policy failures put numerous client accounts at &#8220;significant risk of harm.&#8221;
See Also: <a href="https://www.benzinga.com/markets/equities/24/12/42404312/gary-black-boosts-tesla-price-target-by-27-to-380-citing-25k-hatchbacks-market-potential">Gary Black Boosts Tesla Price Target By 27% To $380 Based On &#8216;Increased Conviction&#8217; That Elon Musk-Led Company Will Launch $25K Hatchback</a>
Why It Matters: The investigation found that until December 2022, the firm had no screening process to identify when financial advisors made ACH payments to accounts bearing their own names. This gap enabled advisors to make hundreds of unauthorized transfers to pay their personal credit card bills.
The firm has already compensated affected clients for their losses and agreed to hire a compliance consultant to review its third-party cash disbursement procedures.
The settlement includes a cease-and-desist order and censure. The SEC&#8217;s investigation was led by teams from both San Francisco and New York regional offices.
Price Action: Morgan Stanley closed at $128.58 on Monday, down $1.38, or 1.06%, for the day. In after-hours trading, the stock gained 0.17%. Year to date, Morgan Stanley&#8217;s stock has surged by 36.93%.
According to <a href="https://www.benzinga.com/quote/MS/analyst-ratings">data from Benzinga Pro</a>, Morgan Stanley has a consensus price target of $111.72 from 24 analysts, with a high of $142 and a low of $79.15. The average price target from the three most recent ratings from JP Morgan, Keefe, Bruyette &amp; Woods, and HSBC, is $124.33, implying a 3.47% downside.
<figure class="wp-block-image size-large"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/10002715/Screenshot-2024-12-10-at-10.56.31%E2%80%AFAM-1024x377.png" alt="" class="wp-image-684431" /></figure>
Read Next: 
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<li><a href="https://www.benzinga.com/news/legal/24/12/42404352/nvidia-china-antitrust-probe-may-remain-unsolved-in-near-term-says-top-analyst-investors-should-be-prepared-for-increased-scrutiny">Nvidia China Antitrust Probe May &#8216;Remain Unsolved&#8217; In Near Term Says Top Analyst; Investors Should Be Prepared For Increased Scrutiny</a></li>
</ul>
Image via Shutterstock
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Equities

Morgan Stanley Agrees To Pay $15M Penalty To Settle SEC Charges Over Advisors Stealing Client Funds

With U.S. stock futures trading slightly lower this morning on Tuesday, some of the stocks that may grab investor focus today are as follows:
<ul>
<li>Wall Street expects United Natural Foods Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNFI#NYSE">UNFI</a>) to report quarterly earnings at $4.33 per share on revenue of $3.17 billion before the opening bell, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>. United Natural Foods shares rose 2.7% to $25.34 in after-hours trading.</li>
<li>Toll Brothers, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TOL#NYSE">TOL</a>) reported better-than-expected earnings for its fourth quarter on Monday. The company said it expects deliveries of between 1,900 and 2,100 units in the first quarter and deliveries of between 11,200 and 11,600 units for fiscal 2025. Toll Brothers shares fell 2.8% to $152.10 in the after-hours trading session.</li>
<li>Analysts are expecting AutoZone, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AZO#NYSE">AZO</a>) to post quarterly earnings at $4.29 per share on revenue of $4.02 billion. The company will release earnings before the markets open. AutoZone shares climbed 0.2% to $3,330.00 in the after-hours trading session.</li>
</ul>
Check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
<ul>
<li>Oracle Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NYSE">ORCL</a>) posted weaker-than-expected earnings and sales results for its second quarter. The company reported second-quarter revenue of $14.06 billion, up 9% year-over-year. The revenue total missed a Street consensus estimate of $14.11 billion. Oracle shares dipped 7.8% to $175.55 in the after-hours trading session.</li>
<li>Analysts expect G-III Apparel Group, Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GIII#NASDAQ">GIII</a>) to post quarterly earnings at $2.27 per share on revenue of $1.1 billion before the opening bell. G-III Apparel shares fell 3.5% to $30.47 in after-hours trading.</li>
</ul>
Check This Out:
<ul>
<li> <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/12/42389952/top-3-materials-stocks-that-may-rocket-higher-in-december">Top 3 Materials Stocks That May Rocket Higher In December</a></li>
</ul>
Photo courtesy: Shutterstock

ORCL

Oracle, United Natural Foods And 3 Stocks To Watch Heading Into Tuesday

President-elect Donald Trump is seeking to halt a lawsuit against Trump Media &amp; Technology Group Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DJT#NASDAQ">DJT</a>) by invoking presidential immunity.
What Happened: Attorneys for Trump and Federal Bureau of Investigation chief nominee Kash Patel, and former Congressman Devin Nunes, argued for &#8220;temporary presidential immunity&#8221; that would cover Trump, according to a Dec. 6 filing in Delaware Chancery Court, <a href="https://www.bloomberg.com/news/articles/2024-12-10/trump-wants-truth-social-deal-lawsuit-put-on-hold-over-immunity">reported</a> Bloomberg.
The lawsuit, brought by Andy Litinsky and Wes Moss — former &#8220;The Apprentice&#8221; contestants — challenged Trump&#8217;s alleged attempt to unfairly dilute their 8.6% company stake.
The plaintiffs claimed they were improperly excluded from the company&#8217;s initial public offering.
See Also: <a href="https://www.benzinga.com/news/legal/24/12/42404352/nvidia-china-antitrust-probe-may-remain-unsolved-in-near-term-says-top-analyst-investors-should-be-prepared-for-increased-scrutiny">Nvidia China Antitrust Probe May &#8216;Remain Unsolved&#8217; In Near Term Says Top Analyst; Investors Should Be Prepared For Increased Scrutiny</a>
Trump filed a <a href="https://www.benzinga.com/markets/equities/24/04/38061721/trump-media-co-founders-sued-by-ex-president-they-began-ceaseless-attempts-to-thwart-the-blank-c">countersuit in Florida state court</a>, claiming they breached an agreement regarding the establishment of Trump Media and were not entitled to the stake.
Why It Matters: Litinsky and Moss sold approximately $11 million in Truth Social shares in September, representing around $150 million at the time.
With 60% of the company&#8217;s stake, Trump is the biggest shareholder in the company that manages the Truth Social platform. He has pledged <a href="https://www.benzinga.com/media/24/11/41853221/trump-says-he-wont-sell-trump-media-stock">not to sell his shares</a> which lost <a href="https://www.benzinga.com/markets/equities/24/11/41677355/trump-loses-1-9b-in-net-worth-as-djt-stock-tumbles-2nd-time-this-week">billions in value</a> after going public but surged following his election.
This legal maneuver follows the U.S. Supreme Court&#8217;s July ruling on presidential immunity, which Trump has leveraged to challenge existing criminal cases. While federal cases have been dropped, state prosecutions in New York and Georgia remain active.
On Election Day, Trump Media reported a 6% decline in <a href="https://www.benzinga.com/news/earnings/24/11/41760961/djt-stock-volatile-on-election-day-donald-trumps-media-company-reports-q3-earnings-growth-initiativ">third-quarter net sales</a> compared to the previous year, totaling $1.01 million, with all revenue generated through advertising on the Truth Social platform.
Price Action: DJT shares rose 1.73% on Monday, closing at $35.34. However, after hours, the stock fell 0.25% to $35.25. Year-to-date DJT DJT shares have surged by 102.52%, according to <a href="https://pro.benzinga.com/">Benzinga Pro data</a>.
Image via Shutterstock
Read Next:
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<li><a href="https://www.benzinga.com/tech/24/12/42358400/elon-musks-xai-raises-6b-for-the-2nd-time-this-year-as-it-looks-to-take-the-challenge-to-openai-google-and-jeff-bezos-backed-anthropic?itm_source=parsely-api">Elon Musk&#8217;s xAI Raises $6B For The 2nd Time This Year As It Looks To Take The Challenge To OpenAI, Google And Jeff Bezos-Backed Anthropic</a></li>
</ul>

Legal

Media

Trump Plays Presidential Immunity Card In Truth Social Lawsuit Battle

AutoZone, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AZO#NYSE">AZO</a>) will release its first quarter results before the <a href="https://www.benzinga.com/insights/earnings/24/12/42389805/autozone-earnings-preview">opening bell on Tuesday, Dec. 10</a>.
Analysts expect the Memphis, Tennessee-based company to report quarterly earnings at $33.64 per share, up from $32.55 per share in the year-ago period. AutoZone is projected to report quarterly revenue of $4.31 billion, compared to $4.19 billion a year earlier, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
On Sept. 24, AutoZone reported fourth-quarter earnings per share of $51.58, missing the Street view of $53.53.
AutoZone shares gained 0.4% to close at $3,324.01 on Monday.
Benzinga readers can access the latest analyst ratings on the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/09/28888638/exclusive-study-finds-benzinga-analyst-ratings-data-yields-market-beating-strategie">Analyst Stock Ratings</a> page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.
Let's have a look at how Benzinga's most-accurate <a href="https://www.benzinga.com/quote/AZO/analyst-ratings">analysts have rated the company</a> in the recent period.
<ul>
<li>Wells Fargo analyst Zachary Fadem maintained the stock with an Overweight rating and raised the price target from $3,400 to $3,450 on Dec. 3. This analyst has an accuracy rate of 88%.</li>
<li>Roth MKM analyst Scott Stember reinstated a Buy rating with a price target of $3,634 on Oct. 16. This analyst has an accuracy rate of 73%.</li>
<li>Truist Securities analyst Scot Ciccarelli maintained a Buy rating and boosted the price target from $3,341 to $3,501 on Oct. 14. This analyst has an accuracy rate of 70%.</li>
<li>Evercore ISI Group analyst Greg Melich maintained an Outperform rating and boosted the price target from $3,300 to $3,350 on Oct. 3. This analyst has an accuracy rate of 84%.</li>
<li>DA Davidson analyst Michael Baker maintained a Neutral rating with a price target of $3,025 on Sept. 30. This analyst has an accuracy rate of 76%.</li>
</ul>
Considering buying AZO stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="559" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/10001248/image-66-1024x559.png" alt="" class="wp-image-684417" style="width:615px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/10001248/image-66-1024x559.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/10001248/image-66-300x164.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/10001248/image-66-768x420.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/10001248/image-66.png 1113w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Read This Next: 
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<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/12/42389952/top-3-materials-stocks-that-may-rocket-higher-in-december">Top 3 Materials Stocks That May Rocket Higher In December</a></li>
</ul>

Price Target

Analyst Ratings

AutoZone Gears Up For Q1 Print; Here Are The Recent Forecast Changes From Wall Street's Most Accurate Analysts

Jim Cramer sees potential for continued strength in airline stocks, provided carriers maintain discipline in flight capacity management. His analysis comes on Monday as major carriers have seen <a href="https://www.benzinga.com/news/global/24/12/42365072/why-archer-aviation-stock-is-gaining-today">significant stock appreciation in recent months</a>.
What Happened: Delta Air Lines Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DAL#NYSE">DAL</a>), United Airlines Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UAL#NASDAQ">UAL</a>), and American Airlines Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAL#NASDAQ">AAL</a>) have all rebounded strongly from their recent lows, benefiting from multiple tailwinds. 
Cramer <a href="https://www.cnbc.com/2024/12/09/airline-stocks-could-keep-running-if-capacity-control-jim-cramer-says.html">highlighted</a> that the sector&#8217;s recovery is supported by both macroeconomic factors and industry-specific developments on CNBC.
&#8220;The strength can continue for however long the capacity discipline does,&#8221; Cramer stated on his Monday show. &#8220;For now, these companies are all saying the right things.&#8221;
The airline sector is experiencing structural shifts that could mark a departure from traditional boom-bust cycles. Cramer pointed to reduced competition from budget carriers like Spirit Airlines Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAVE#NYSE">SAVE</a>) and Southwest Airlines Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LUV#NYSE">LUV</a>), which have scaled back expansion plans. 
Additionally, manufacturing delays at The Boeing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) have created a natural cap on industry capacity.
See Also: <a href="https://www.benzinga.com/trading-ideas/movers/24/12/42404450/bitcoin-ethereum-dogecoin-recover-losses-after-flash-crash-analyst-pinpoints-critical-btc-support-levels">Bitcoin, Ethereum, Dogecoin Recover Losses After Flash Crash: Analyst Pinpoints Critical BTC Support Levels</a>
Why It Matters: A resurgence in business travel post-pandemic and potential Federal Reserve rate cuts have further bolstered the sector&#8217;s outlook. However, Cramer maintained his characteristic caution, noting that airlines historically perform better as trading vehicles rather than long-term investments.
Major aviation exchange-traded funds, including U.S. Global Jets ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JETS#NYSE">JETS</a>), Gabelli Commercial Aerospace and Defense ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GCAD#NYSE">GCAD</a>), and iShares U.S. Aerospace &amp; Defense ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ITA#BATS">ITA</a>), have risen by over 30% in the past year, according to <a href="https://www.benzinga.com/pro/">data from Benzinga Pro</a>.
&#8220;My gut tells me maybe to ring the register before the music stops,&#8221; Cramer advised while acknowledging the possibility of a structural shift in the industry&#8217;s dynamics.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/equities/24/12/42404312/gary-black-boosts-tesla-price-target-by-27-to-380-citing-25k-hatchbacks-market-potential">Gary Black Boosts Tesla Price Target By 27% To $380 Based On &#8216;Increased Conviction&#8217; That Elon Musk-Led Company Will Launch $25K Hatchback</a></li>
</ul>
Courtesy of American Airlines.
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

GCAD

iShares Dow Jones US Aerospace & Defense Index Fund

JETS

SAVE

Jim Cramer Says Airline Stocks 'Strength Can Continue' Amid Structural Shifts: 'Ring The Register Before The Music Stops'

Veteran investor Ross Gerber warned individual investors on Monday against putting their money in cryptocurrencies other than Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) owing to a probable surge in fraud and lesser government oversight.
What happened: During an interview with Reuters, Gerber, CEO of Gerber Kawasaki Wealth and Investment Management, argued that the appointment of cryptocurrency-friendly individuals in the incoming Donald Trump administration won't safeguard retail investors from scams that may arise during a bull market.
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"We&#8217;ve already seen frauds in the United States with certain coins already, and it&#8217;s like the minute Bitcoin starts to do well, the criminals and the fraud start taking advantage of people," Gerber stated.&nbsp;
He added that less regulation doesn't help individual investors, and they have to be "very very smart" with their investment decisions.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42382883/ark-invests-cathie-wood-hails-bitcoins-100k-climb-as-a-big-deal-labels-apex-crypto-as-gold-substitute-and-emerging-reserve-currency">Ark Invest&#8217;s Cathie Wood Hails Bitcoin&#8217;s $100K Climb As A &#8216;Big Deal,&#8217; Labels Apex Crypto As Gold Substitute And Emerging Reserve Currency</a>
Gerber also mentioned that his firm has been investing in Bitcoin for the past decade and that it has yet to disappoint them.
"I would recommend to say I would not go into anything other than Bitcoin," he advised.
As per the latest 13F filing with the SEC, Gerber Kawasaki holds 31,588 shares of iShares Bitcoin Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBIT#NASDAQ">IBIT</a>), with an estimated market value of $1.56 million.
Why It Matters: Gerber's remarks came amid signs of a shifting cryptocurrency policy landscape in the U.S. under Trump.&nbsp;
He appointed renowned venture capitalist David Sacks as the first ever "White House A.I. &amp; Crypto Czar" last week, following the <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42323248/trump-nominates-paul-atkins-as-sec-chair-emphasizing-digital-assets-as-key-to-making-america-greater">selection </a>of pro-cryptocurrency Paul Atkins as the next SEC Chair.
Earlier, Gerber had warned his followers on X to stay away from &#8220;sh&#x2A;t coins&#8221; and touched on the <a href="https://www.benzinga.com/general/entertainment/24/12/42333397/hawk-tuah-girl-accused-of-scamming-crypto-buyers-after-newly-launched-meme-coin-pumps-and-dumps-victims-contemplate-legal-action">launch of a meme coin</a> by viral influencer Haliey Welch, also called the "Hawk Tuah Girl." 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">This hawk stuff is unbelievable. Every time bitcoin goes up. The crooks come out. Please stay away from s-it coins!
&mdash; Ross Gerber (@GerberKawasaki) <a href="https://twitter.com/GerberKawasaki/status/1864819039194787918?ref_src=twsrc%5Etfw">December 5, 2024</a></blockquote>
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Price Action: As of this writing, Bitcoin was trading at $96,559.01, down 2.88% 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 by Wendy Davis
Read Next:&nbsp;
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<li><a href="https://www.benzinga.com/24/12/42382133/amazon-shareholders-propose-adding-bitcoin-to-treasury-for-best-long-term-interest-cite-microstrategy-as-example">Amazon Shareholders Propose Adding Bitcoin To Treasury For &#8216;Best&#8217; Long-Term Interest, Cite Michael Saylor&#8217;s MicroStrategy As Example</a></li>
</ul>

$BTC

IBIT

Ross Gerber Has A Word Of Advice For Individual Investors: Don't Buy Any Crypto Other Than Bitcoin

On Monday, major U.S. indices closed in the red, with the Dow Jones Industrial Average falling 0.5% to 44,401.93, the S&amp;P 500 slipping nearly 0.6% to 6,052.85, and the tech-focused Nasdaq dropping 0.6% to 19,736.69.
These are the top stocks that gained the attention of retail traders and investors throughout the day.
Nvidia (NVDA) shares dropped by 2.55% to $138.81. The stock traded within the range of $139.95 to $137.13 over the day. The 52-week high and low prices for Nvidia are $152.89 and $45.59, respectively.
Nvidia's stock dipped after China announced an <a href="https://www.benzinga.com/government/regulations/24/12/42389113/nvidia-hit-with-antitrust-probe-in-china-stock-slides">antitrust probe linked to its Mellanox deal</a>. The company faces global scrutiny, from U.S. AI-chip sector investigations to EU concerns about its Run:ai offer. Heightened U.S.-China tensions, new semiconductor sanctions, and China's mineral controls add pressure.
Advanced Micro Devices, Inc. (AMD) reported a 5.57% dip, closing at $130.87. The stock's intraday high and low were $135.77 and $130, respectively. AMD's 52-week high and low prices stand at $227.30 and $121.83.
B of A Securities analyst Vivek Arya <a href="https://www.benzinga.com/24/12/42388827/this-amd-analyst-is-no-longer-bullish-here-are-top-5-downgrades-for-monday">downgraded AMD from Buy to Neutral</a> and lowered the price target from $180 to $155. AMD shares closed at $138.59 on Friday.
C3.ai Inc. (AI) shares rose by 2.86% to $41.68. The stock's intraday high and low were $42.94 and $40.09, respectively. C3.ai's 52-week high and low prices are $42.94 and $18.85.
C3.ai beat expectations with a <a href="https://www.benzinga.com/news/earnings/24/12/42400744/c3ai-stock-rallies-after-q2-results-seventh-consecutive-quarter-of-accelerating-revenue-growth">second-quarter loss</a> of 6 cents per share and revenue of $94.34 million. Subscription revenue jumped 22%, helping total revenue grow 29%. The firm ended the quarter with $730.4 million in cash. C3.ai's alliance with Microsoft aims to drive widespread AI adoption. The company projects Q3 revenue of $95.5–$100.5 million and full-year revenue of $378–$398 million.
Oracle (ORCL) experienced a 0.65% decline, closing at $190.45. The stock's intraday high and low were $198.31 and $188.93, respectively. Oracle's 52-week high and low prices are $198.31 and $99.26.
Oracle's second-quarter revenue rose 9% to $14.06 billion but <a href="https://www.benzinga.com/news/earnings/24/12/42400723/oracle-q2-earnings-revenue-miss-eps-miss-ai-growth-ellison-says-opportunity-is-unimaginable">slightly missed estimates</a>. Adjusted EPS of $1.47 also fell short of forecasts. Cloud revenue jumped 24% as AI demand soared, with GPU consumption up 336%. Oracle expects cloud revenue to surpass $25 billion this fiscal year. Executives highlighted the company's competitive AI capabilities and its partnership with Meta.
Tesla Inc (TSLA) saw a 0.15% increase, closing at $389.79. The stock's intraday high and low were $404.80 and $378.01, respectively. Tesla's 52-week high and low prices are $404.80 and $138.80.
Tesla's stock climbed past $400 in extended trading, spurred by analyst optimism and excitement over its evolving self-driving tech. Elon Musk <a href="https://www.benzinga.com/markets/equities/24/12/42383750/elon-musk-mocks-tesla-shorts-after-stock-hits-400-in-overnight-trading-on-robinhood">poked fun at short sellers</a>, referencing "Dune's" "Litany Against Fear." A one-time Tesla bear raised his price target sharply, and analysts maintain a "Buy" consensus. The new software version 13.2 drew praise for its impressive performance.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42404610/peter-schiff-advises-biden-to-do-one-good-thing-before-his-term-ends-sell-all-the-bitcoin-held-by-the-us">Peter Schiff Advises Biden To Do One &#8216;Good Thing&#8217; Before His Term Ends: &#8216;Sell All The Bitcoin&#8217; Held By The US</a></li>
</ul>

TSLA

Nvidia, AMD, C3 ai, Oracle, Tesla: Why These 5 Stocks Are On Investors' Radars Today?

Oracle Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NYSE">ORCL</a>) is positioned to capitalize on the emerging <a href="https://www.benzinga.com/news/earnings/24/12/42400723/oracle-q2-earnings-revenue-miss-eps-miss-ai-growth-ellison-says-opportunity-is-unimaginable">enterprise software artificial intelligence revolution</a>, according to Wedbush Securities Managing Director Dan Ives, who shared his insights during a CNBC interview on Monday.
What Happened: &#8220;The software phase of the AI revolution is now here,&#8221; Ives <a href="https://www.linkedin.com/posts/frank-holland-b9657883_5-with-ives-daniel-ives-of-wedbush-securities-activity-7271917836208427008-fVSx/?utm_source=share&amp;utm_medium=member_ios">said</a>, highlighting Oracle&#8217;s potential alongside industry peers Palantir Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>) and Salesforce Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NYSE">CRM</a>).
Ives emphasized Oracle&#8217;s competitive advantage in the enterprise space, particularly noting its cloud infrastructure and software stack. He projected significant benefits for the company over the next 12-18 months as government and enterprise clients accelerate their cloud and AI adoption.
The analyst pointed to 2025 as a pivotal year for enterprise AI applications, with Oracle expected to show substantial growth in its ERP offerings. This aligns with broader industry trends, as enterprise software companies increasingly integrate AI capabilities into their core products.
See Also: <a href="https://www.benzinga.com/news/legal/24/12/42404352/nvidia-china-antitrust-probe-may-remain-unsolved-in-near-term-says-top-analyst-investors-should-be-prepared-for-increased-scrutiny">Nvidia China Antitrust Probe May &#8216;Remain Unsolved&#8217; In Near Term Says Top Analyst; Investors Should Be Prepared For Increased Scrutiny</a>
Why It Matters: Regarding the broader tech landscape, Ives remains bullish on the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/12/42307179/salesforce-palantir-and-oracle-spearhead-an-ai-revolution-says-wedbushs-dan-ives-a-renaissance-of-growth">AI sector&#8217;s growth potential</a>. He sees the current transformation as &#8220;the biggest tech trend in the last 40 to 50 years,&#8221; extending well beyond major tech giants to include various enterprise software providers.
Oracle reported second-quarter revenue of $14.06 billion, up 9% year-over-year. The revenue total missed a Street consensus estimate of $14.11 billion, according to data <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent120924&amp;t=be2bearmibe3na1" target="_blank" rel="noreferrer noopener">from Benzinga Pro.</a>
ORCL Price Action: Oracle stock dropped 7.80% to $175.60 in after-hours trading on Monday, within a 52-week range of $99.26 to $198.31. Before the after-hours decline, Oracle shares had gained 82% year-to-date.
Oracle Corp&#8217;s <a href="https://www.benzinga.com/quote/ORCL/analyst-ratings">consensus price target</a> is $170.67, based on ratings from 32 analysts. The highest target of $220, while the lowest is $110. Recent ratings by RBC Capital, Guggenheim, and Jefferies average a $201.67 target, implying a 14.87% upside for the stock.
<figure class="wp-block-image size-large"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/09215041/Screenshot-2024-12-10-at-8.20.06%E2%80%AFAM-1024x381.png" alt="" class="wp-image-684337" /></figure>
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<li><a href="https://www.benzinga.com/trading-ideas/movers/24/12/42404450/bitcoin-ethereum-dogecoin-recover-losses-after-flash-crash-analyst-pinpoints-critical-btc-support-levels">Bitcoin, Ethereum, Dogecoin Recover Losses After Flash Crash: Analyst Pinpoints Critical BTC Support Levels</a></li>
</ul>
Image via Flickr
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

PLTR

Oracle Positioned To Benefit From Enterprise Revolution, Says Dan Ives: 'The Software Phase Of The AI Revolution Is Now Here'

An influential cryptocurrency analyst on Monday identified Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>) and Toncoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">TON</a>) as the next contenders to reach new all-time highs, following the accomplishments of Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>).
What happened: JA Maartunn, a well-known market observer and contributor at on-chain analytics firm CryptoQuant, called Solana a &#8220;standout,&#8221; underscoring that the cryptocurrency was just 8% away from its peak of $263.21. 
He also drew attention to Toncoin&#8217;s trajectory, which followed closely at 15% below its all-time high of $8.25.
&#8220;Both projects are supported by strong fundamentals, including active development teams and active networks,&#8221; Maartunn stated. &#8220;Given these figures, it seems likely that these coins could follow Bitcoin&#8217;s lead in the near future.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Are TON and SOL the Next to Hit All-Time Highs, Following BTC &amp; BNB? "Among other contenders, Solana (SOL) is a standout, sitting just 8% below its ATH, while Toncoin (TON) follows closely at 15% below its peak." – By <a href="https://twitter.com/JA_Maartun?ref_src=twsrc%5Etfw">@JA_Maartun</a> Read more &#x1f447;<a href="https://t.co/8n28975xN8">https://t.co/8n28975xN8</a> <a href="https://t.co/1uGICVYVb8">pic.twitter.com/1uGICVYVb8</a>
&mdash; CryptoQuant.com (@cryptoquant_com) <a href="https://twitter.com/cryptoquant_com/status/1866107184905379928?ref_src=twsrc%5Etfw">December 9, 2024</a></blockquote>
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Bitcoin, the world&#8217;s largest cryptocurrency, <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42396548/from-100k-to-250k-analyzing-bitcoins-bull-market-signals">breached $100,000 for the first time in history</a> last week, spurring gains and optimism in the broader market.
SOL has surged 110% year-to-date, reaching a yearly high of $256 last month. 
A glance at the technicals showed that the Momentum Indicator and the Bull Bear Power Indicator were flashing &#8216;Buy&#8217; signals for the fifth-largest cryptocurrency, per <a href="https://in.tradingview.com/symbols/SOLUSD/technicals/">data </a>from TradingView.
On the other hand, TON, which jumped 149% in 2024, saw bearish signals from the Momentum Indicator, while the Bull Bear Power Indicator was neutral as of this writing.
For the curious, Bull power and bear power are technical indicators that measure the strength of buyers and sellers in the market, while momentum indicator is used to determine the strength or weakness of an asset&#8217;s price trend.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42382883/ark-invests-cathie-wood-hails-bitcoins-100k-climb-as-a-big-deal-labels-apex-crypto-as-gold-substitute-and-emerging-reserve-currency">Ark Invest&#8217;s Cathie Wood Hails Bitcoin&#8217;s $100K Climb As A &#8216;Big Deal,&#8217; Labels Apex Crypto As Gold Substitute And Emerging Reserve Currency</a>
Why It Matters: The aforementioned forecasts were made before Bitcoin&#8217;s flash crash, which rocked the broader cryptocurrency market.
The total market capitalization plunged 5% in the last 24 hours, with over a billion dollars getting liquidated. 
Price Action: SOL plummeted 9.48% in the last 24 hours, trading at $210.65 at the time of writing, 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>. TON was also hit, slumping 15.92% to $5.63.
Photo: Skorzewiak/Shutterstock.com
Read Next:&nbsp;
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<li><a href="https://www.benzinga.com/24/12/42382133/amazon-shareholders-propose-adding-bitcoin-to-treasury-for-best-long-term-interest-cite-microstrategy-as-example">Amazon Shareholders Propose Adding Bitcoin To Treasury For &#8216;Best&#8217; Long-Term Interest, Cite Michael Saylor&#8217;s MicroStrategy As Example</a></li>
</ul>

$BNB

$SOL

$TON

BTCM

Can Solana And Toncoin Print Fresh All-Time Highs Just Like Bitcoin's Recent $100K Move? Here's What This Analyst Says

On Monday, following Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Google's unveiling of Willow, the company&#8217;s <a href="https://www.benzinga.com/24/12/42397333/google-quantum-ais-willow-chip-outsmarts-supercomputers-completing-tasks-in-minutes-that-would-take-10-septillion-years">latest quantum computing chip</a>, CEO Sundar Pichai and Tesla and SpaceX CEO Elon Musk had an interesting conversation.
What Happened: Taking to X, formerly Twitter, Pichai highlighted Willow&#8217;s extraordinary capabilities, noting it solved a standard computation in under five minutes—a task that would take a leading supercomputer over 10^25 years.
The announcement sparked an intriguing dialogue with Musk, who responded with enthusiasm.
Pichai suggested they &#8220;should do a quantum cluster in space with Starship one day,&#8221; to which Musk replied, &#8220;That will probably happen.&#8221;
See Also: <a href="https://www.benzinga.com/media/24/12/42382237/tiktok-parent-bytedance-now-nvidias-largest-asian-chip-customer-races-ahead-of-alibaba-and-baidu-to-dominate-chinas-generative-ai-market-report">TikTok-Parent ByteDance, Now Nvidia&#8217;s Largest Asian Chip Customer, Races Ahead Of Alibaba And Baidu To Dominate China&#8217;s Generative AI Market: Report</a>
Their exchange quickly escalated from <a href="https://www.benzinga.com/trading-ideas/movers/24/12/42380768/quantum-computing-stocks-roundup-d-wave-rigetti-ionq-lead-the-charge-with-explosive-growth">quantum computing</a> to broader technological ambitions, with Musk referencing the Kardashev scale and suggesting humanity is currently at less than 5% of a Type I civilization.
Pichai and Musk converged on a shared vision of solar energy&#8217;s potential, with the Alphabet CEO pointing out that &#8220;the most obvious path is staring at our eyes, literally!&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">indeed. We should scale solar so much more, amazing that we keep looking at alternatives when the most obvious path is staring at our eyes, literally!
&mdash; Sundar Pichai (@sundarpichai) <a href="https://twitter.com/sundarpichai/status/1866179423000748069?ref_src=twsrc%5Etfw">December 9, 2024</a></blockquote>
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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: The Willow chip represents a significant milestone in quantum computing. Developed by Google Quantum AI, it demonstrates exponential error reduction as qubit numbers increase—a 30-year challenge in the field.
With 105 qubits, Willow has already outperformed prior quantum systems, achieving breakthrough real-time error correction.
Last month, Nvidia Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) <a href="https://www.benzinga.com/24/11/42070170/quantum-leap-nvidias-collaboration-with-google-ai-advances-next-gen-quantum-hardware">partnered with Quantum AI</a> to accelerate the development of cutting-edge quantum computing devices.
The collaboration was aimed at speeding up quantum simulations, shortening processes that previously took weeks, while also driving advancements in quantum hardware technology.
Price Action: At the time of writing, Alphabet&#8217;s Class A stock rose by 0.93% in after-hours trading, reaching $177, while Class C stock climbed 0.88% to $178.65. In Monday&#8217;s regular trading session, Class A shares gained 0.49%, closing at $175.37, and Class C shares increased by 0.46%, finishing at $177.10, according to <a href="https://benzinga.grsm.io/lxquj26b2sag">Benzinga Pro data</a>.
Photo via Shutterstock
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:
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<li><a href="https://www.benzinga.com/24/12/42359072/sundar-pichai-takes-a-jab-at-microsofts-ai-efforts-theyre-using-someone-elses-models-doubling-down-on-googles-innovation-power">Google CEO Sundar Pichai Fires Back At Microsoft Over AI, Dismisses Satya Nadella&#8217;s Criticism: &#8216;I Would Love To Do A Side-By-Side Comparison&#8230;Any Day, Any Time&#8217;</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

GOOG

GOOGL

Google's Willow Quantum Computing Chip Sparks Stellar Conversation Between Elon Musk And Sundar Pichai: 'Most Obvious Path Is Staring At Our Eyes'

Influential economist Peter Schiff suggested on Monday that President Joe Biden sell all of the U.S.-owned Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) before leaving office to help reduce the country&#8217;s ballooning budget deficit.
What happened: Schiff advised Biden via an X post, deeming it the &#8220;one good thing&#8221; the outgoing president can do before clearing the way for a Donald Trump tenure.
&#8220;Not only would the money raised reduce the 2024 budget deficit, but it would put an end to all the nonsense about creating a harmful &#8220;strategic&#8221; Bitcoin Reserve,&#8221; Schiff argued.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The one good thing <a href="https://twitter.com/hashtag/Biden?src=hash&amp;ref_src=twsrc%5Etfw">#Biden</a> can do before leaving office is sell all the <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> currently held by the U.S. Govt. Not only would the money raised reduce the 2024 budget deficit, but it would put an end to all the nonsense about creating a harmful &quot;Strategic&quot; Bitcoin Reserve.
&mdash; Peter Schiff (@PeterSchiff) <a href="https://twitter.com/PeterSchiff/status/1866157505384235099?ref_src=twsrc%5Etfw">December 9, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
<figcaption class="wp-element-caption">Schiff also took a shot at Trump, claiming that the president-elect&#8217;s commitment not to sell any government-owned Bitcoin assets would stand in such a scenario.</figcaption></figure>
&#8220;Biden can do him a favor by selling it all before Trump takes office. That way, Trump won&#8217;t have to break that campaign promise.&#8221;
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42382883/ark-invests-cathie-wood-hails-bitcoins-100k-climb-as-a-big-deal-labels-apex-crypto-as-gold-substitute-and-emerging-reserve-currency">Ark Invest&#8217;s Cathie Wood Hails Bitcoin&#8217;s $100K Climb As A &#8216;Big Deal,&#8217; Labels Apex Crypto As Gold Substitute And Emerging Reserve Currency</a>
Why It Matters: Schiff&#8217;s remarks were in reference to the national Bitcoin stockpile <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/40001426/trump-aims-to-make-us-crypto-capital-of-the-planet-well-get-it-done">promised by Trump</a> at a Bitcoin conference earlier this year and <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/40087880/cynthia-lummis-unveils-strategic-bitcoin-reserve-legislation-this-is-our-louisiana-purchas">furthered </a>by proposed legislation by fellow Republican Senator Cynthia Lummis (R-Wyo.). Trump had advocated selling any Bitcoin holdings.
The U.S. government <a href="https://intel.arkm.com/explorer/entity/usg?ref=dutchcryptonews.com">holds </a>more than 198,000 Bitcoin as of this writing, worth nearly $19.48 billion, per on-chain analytics firm Arkham Intelligence. Proponents of the reserve have argued that Bitcoin&#8217;s value growth could help pay down the national debt, which now <a href="https://www.benzinga.com/personal-finance/24/10/41564246/from-10-trillion-to-35-trillion-how-government-spending-has-spiraled-out-of-control">exceeds $35 trillion</a>. However, Schiff, a fierce critic of everything Bitcoin, warned that such an idea <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41886523/peter-schiff-us-bitcoin-reserve-could-destroy-dollar-predicts-its-highly-unlikely-to-happen" target="_blank" rel="noreferrer noopener">could lead to an economic catastrophe</a>. He suggested that the government would have to continuously increase its Bitcoin holdings, potentially triggering a market crash as investors cash out.
He added that the exercise would end up severely devaluing the dollar, leading to hyperinflation.
Price Action: At the time of writing, Bitcoin was exchanging hands at $97,665.14, down 1.84% in the last 24 hours, according to&nbsp;<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>.&nbsp;

$LTC

Peter Schiff Advises Biden To Do One 'Good Thing' Before His Term Ends: 'Sell All The Bitcoin' Held By The US

Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>) faced sharp price swings during Monday trading, falling as much as 22% to the $0.000024-level Monday afternoon, as Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) retreated from its <a href="https://www.benzinga.com/trading-ideas/movers/24/12/42404450/bitcoin-ethereum-dogecoin-recover-losses-after-flash-crash-analyst-pinpoints-critical-btc-support-levels">all-time high above $100,000</a>, stabilizing near $98,000. 
Like other meme-based cryptocurrencies, Shiba Inu's price is heavily influenced by market sentiment and Bitcoin's performance, making it prone to outsized volatility.
What To Know: Initially launched as a lighthearted rival to Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>), Shiba Inu has gained traction through community-driven momentum and utility initiatives like ShibaSwap, its decentralized exchange. However, SHIB's speculative nature makes it vulnerable to shifts in investor confidence.
Read Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42397425/microsoft-shareholders-to-vote-on-bitcoin-investment-proposal">Microsoft Shareholders To Vote On Bitcoin Investment Proposal</a>
Today's decline appears linked to broader crypto market dynamics. Rising <a href="https://www.benzinga.com/news/treasuries">U.S. Treasury yields</a> and upcoming inflation data have heightened risk sensitivity, leading to profit-taking across volatile assets. Bitcoin's retreat after a <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42367065/exclusive-bitcoin-briefly-tops-100000-but-where-do-benzinga-readers-predict-it-will-finish-2024">historic rally</a> further amplified the downturn in meme tokens like Shiba Inu.
Despite this, positive trends in cryptocurrency adoption could bolster Shiba Inu's long-term potential. Proposals for major corporations, <a href="https://www.benzinga.com/24/12/42382133/amazon-shareholders-propose-adding-bitcoin-to-treasury-for-best-long-term-interest-cite-microstrategy-as-example">such as Amazon</a>, to hold Bitcoin as an asset underline growing mainstream acceptance. Additionally, institutional interest, like MicroStrategy's recent <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42391481/microstrategy-acquires-21b-worth-of-bitcoin-total-holdings-now-exceed-423000-btc">$2.1 billion Bitcoin purchase</a>, highlights the broader appeal of digital assets.
While Shiba Inu remains a speculative play, its active community and ongoing development efforts—could support its long-term resilience. For now, market conditions suggest that meme tokens like SHIB could continue to experience heightened volatility compared to <a href="https://www.benzinga.com/money/how-to-buy-cryptocurrencies">more established cryptocurrencies</a>.
Read Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42397626/dogecoin-killer-shiba-inu-burn-rate-surges-876-is-shib-price-really-insanely-strong">&#8216;Dogecoin Killer&#8217; Shiba Inu Burn Rate Surges 876%: Is SHIB Price Really &#8216;Insanely Strong&#8217;?</a>

$SHIB

What's Going On With Dogecoin Rival Shiba Inu (SHIB)?

Leading cryptocurrency dumped hard on Monday following Bitcoin's flash crash to $94,000.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 7:45 p.m. ET)</td>
</tr>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>-1.86%</td>
<td>$97,790.92</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>-5.05%</td>
<td>$3,765.62</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>-9.34%</td>
<td>$0.4164</td>
</tr>
</tbody>
</table>
</figure>
What Happened: The world&#8217;s largest cryptocurrency got rejected at $100,000 during morning trading and later slumped from $98,000 to an intraday low of $94,355 in a span of two hours, triggering a barrage of liquidations.
Prices recovered to the high $97,000s overnight.
Ethereum witnessed similar turbulence, plunging sharply to $3,550 to later rebound to $3,765.
The crash triggered about $1.72 billion in cryptocurrency liquidations in the last 24 hours, with leveraged longs accounting for nearly $1.55 billion.
About $509 million in short positions risked liquidation if Bitcoin reclaimed $100,000.
Bitcoin's Open Interest dropped by 1.32% in the last 24 hours, while Ethereum saw a 5.44% plunge in money locked in unsettled futures contracts.
That said, the total number of long positions for Bitcoin surged in comparison to shorts, indicating expectations of future price increases.
Top Gainers (24-Hours)
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 8:15 p.m. ET)</td>
</tr>
<tr>
<td>Ethena (ENA)</td>
<td>+3.82%</td>
<td>$1.05</td>
</tr>
<tr>
<td>UNUS SED LEO (DYDX)</td>
<td>+7.19%</td>
<td>$9.44</td>
</tr>
<tr>
<td>Pepe (PEPE)</td>
<td>+2.42%</td>
<td>$0.00002697</td>
</tr>
</tbody>
</table>
</figure>
The global cryptocurrency market capitalization stood at $3.48 trillion, plunging by 5.37% in the last 24 hours.
Stocks got hammered on the first day of a new trading week. The Dow Jones Industrial Average fell&nbsp; 240.59 points, or 0.54%, to close at 44,401.93. The S&amp;P 500 dipped 0.61%, ending at 6,052.85, while the tech-heavy Nasdaq Composite slid 0.62% to end at 19,736.69.
The tech drawdown was precipitated by a 2.55% drop in NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) shares after the artificial intelligence juggernaut <a href="https://www.benzinga.com/government/regulations/24/12/42389113/nvidia-hit-with-antitrust-probe-in-china-stock-slides">was hit with an antitrust probe</a> in China.
The slump came ahead of the release of November's consumer price index data, due for release on Wednesday.
See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>
Analyst Notes: Widely followed cryptocurrency analyst Justin Bennett weighed in on the Bitcoin pullback scenario, stressing the $91,800 mid-range and an $83-$85,000 support.
"I think those are your targets (level by level) if $99,000 is lost on a daily closing basis," Bennett projected.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">So far, that <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> pullback scenario I shared yesterday is playing out with a $91,800 mid-range and an $83-$85k floor. I think those are your targets (level by level) if $99k is lost on a daily closing basis. One concern I&#39;ve had for a while is where the <a href="https://twitter.com/search?q=%24SPX&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SPX</a> is trading relative… <a href="https://t.co/w3owcYDCJZ">pic.twitter.com/w3owcYDCJZ</a>
&mdash; Justin Bennett (@JustinBennettFX) <a href="https://twitter.com/JustinBennettFX/status/1866211477583245372?ref_src=twsrc%5Etfw">December 9, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Popular on-chain analytics firm CryptoQuant noted a surge in Coinbase Premium alongside a slump in Bitcoin's prices.
For the curious, a higher premium reflects strong buying pressure by U.S.-based institutional investors.
"This rebound suggests that when excessive panic selling occurs on Binance, which has a higher proportion of small investors, U.S. institutional investors are likely to adopt an aggressive buying strategy," CryptoQuant added.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Bitcoin Plummets, But Coinbase Premium Surges "Rebound suggests that when excessive panic selling occurs on Binance, which has a higher proportion of small investors, U.S. institutional investors are likely to adopt an aggressive buying strategy." – By <a href="https://twitter.com/MAC_D46035?ref_src=twsrc%5Etfw">@MAC_D46035</a> Link &#x1f447;… <a href="https://t.co/eaXxRhemUp">pic.twitter.com/eaXxRhemUp</a>
&mdash; CryptoQuant.com (@cryptoquant_com) <a href="https://twitter.com/cryptoquant_com/status/1866278818656448973?ref_src=twsrc%5Etfw">December 10, 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/markets/cryptocurrency/24/12/42397425/microsoft-shareholders-to-vote-on-bitcoin-investment-proposal">Microsoft Shareholders To Vote On Bitcoin Investment Proposal</a></li>
</ul>

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