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S&P Global / CIPS U.K. Construction Purchasing Managers Index For November 55.2 Vs. 53.5 Est.; 54.3 Prior

A meme coin launched by viral influencer Haliey Welch of the "Hawk Tuah" fame became a subject of controversy on Wednesday after it pumped and dumped, eroding millions of dollars in market value in quick time.
What happened: HAWK, launched on Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)-based Meteora on Wednesday, swiftly gained a market valuation of almost $425 million before plummeting to $30 million within five hours, <a href="https://dexscreener.com/solana/exygvxvrvujjryo65vyuhlaccxhwyztkqa7jxqit2tvr">according </a>to Dexscreener data.
As of this writing, the meme coin was valued slightly higher at $48 million, but still 90% down from the initial frenzy.&nbsp;
The sudden downfall sparked outrage in the cryptocurrency community.
An X user with the pseudonym JIGGA.5mbK revealed that their $35,000 investment in the coin was reduced to $2,000 after 10 minutes of buying.
"I am a huge fan of Hawk Tuah but you took my life savings," the user said.&nbsp;
The trader also alleged insider trading. "You didn't mention that you were going to buy 97% of the supply and sell it almost immediately to make a large profit."
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Hi <a href="https://twitter.com/HalieyWelchX?ref_src=twsrc%5Etfw">@HalieyWelchX</a> My $35,000 that I purchased of <a href="https://twitter.com/search?q=%24Hawk&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$Hawk</a> is now $2,000 after 10 minutes of buying. I am a huge fan of Hawk Tuah but you took my life savings. I purchased your coin <a href="https://twitter.com/search?q=%24Hawk&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$Hawk</a> that you were so excited about with my life savings and children's college education fund as… <a href="https://t.co/MRftQ2sT6g">pic.twitter.com/MRftQ2sT6g</a>
&mdash; JIGGA.5mbK (@jiggadrin_) <a href="https://twitter.com/jiggadrin_/status/1864439910607843782?ref_src=twsrc%5Etfw">December 4, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42331483/michael-saylors-bitcoin-strategy-drives-microstrategys-490-surge-hedge-fund-cio-says-its-an-extreme-example-of-volatility-monetization">Michael Saylor&#8217;s Bitcoin Strategy Drives MicroStrategy&#8217;s 490% Surge, Hedge Fund CIO Says It&#8217;s An &#8216;Extreme Example&#8217; Of Volatility Monetization</a>
Influential cryptocurrency investor Beanie also accused token insiders of hoarding 97% of the supply and selling them at the top.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">&#x1f6a8;&#x1f6a8;WARNING&#x1f6a8;&#x1f6a8;<a href="https://twitter.com/search?q=%24HAWK&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$HAWK</a> token insiders kept over 97% of the supply and are actively selling!!! <a href="https://t.co/KhfXwvQDwV">pic.twitter.com/KhfXwvQDwV</a>
&mdash; Beanie (@beaniemaxi) <a href="https://twitter.com/beaniemaxi/status/1864434364060221448?ref_src=twsrc%5Etfw">December 4, 2024</a></blockquote>
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On-chain detective Stephen Findeisen, better known as Coffeezilla, called the launch one of the most "miserable and horrible" ever.
"There were snipers but also insider trading directly linked to trader accounts. What are you guys doing?" he questioned Welch and her team.
Welch, through her X account, denied the accusations, saying that no free token was given to anyone from the team or key opinion leaders—a jargon used in the cryptocurrency space for influential figures promoting nascent projects.
However, users quickly added a community note, saying that her team has been actively selling the tokens handed to them.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Copy and pasting: Hawkanomics: Team hasn't sold one token and not 1 KOL was given 1 free token We tried to stop snipers as best we could through high fee's in the start of launch on <a href="https://twitter.com/MeteoraAG?ref_src=twsrc%5Etfw">@MeteoraAG</a> Fee's have now been dropped <a href="https://t.co/E7xN9VmCrx">pic.twitter.com/E7xN9VmCrx</a>
&mdash; Haliey Welch (@HalieyWelchX) <a href="https://twitter.com/HalieyWelchX/status/1864448384326881713?ref_src=twsrc%5Etfw">December 4, 2024</a></blockquote>
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Many victims demanded answers and were contemplating legal action. In fact, the community note sarcastically mentioned, "Hailey is lying and will likely have to &#8220;talk tuah&#8221; judge about this."
Why It Matters: Welch went viral earlier this year for her quirky catchphrase &#8220;Hawk Tuah&#8221; during a street interview.
The video was posted online and made waves on social media, giving Welch the nickname &#8220;Hawk Tuah Girl.&#8221; The video received millions of views on TikTok and Instagram, inspiring several memes and parodies.
Riding high on her celebrity status and the buzz around the phrase, Welch entered the meme coin space. In an interview with Fortune, she said that the token was "not just a cash grab" but could be used for things other than speculation.
However, as it turns out, things haven't exactly started on a smooth note for the internet star.
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42331507/happy-bitcoin-100k-day-heres-how-nayib-bukele-brian-armstrong-and-peter-schiff-reacted-to-the-historic-milestone">Happy Bitcoin $100K Day: Here&#8217;s How Nayib Bukele, Brian Armstrong, And Peter Schiff Reacted To The Historic Milestone</a></li>
</ul>
Image Via Shutterstock

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

Cryptocurrency

Entertainment

Markets

$SOL

'Hawk Tuah' Girl Accused Of Scamming Crypto Buyers After Newly-Launched Meme Coin Pumps And Dumps, Victims Contemplate Legal Action

Piper Sandler analyst Brent Bracelin downgrades Ncino (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NCNO#NASDAQ">NCNO</a>) from Overweight to Neutral and maintains the price target from $38 to $38.

Downgrades

Price Target

Analyst Ratings

NCNO

Piper Sandler Downgrades Ncino to Neutral, Maintains Price Target to $38

Piper Sandler analyst Brent Bracelin reiterates Adobe (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADBE#NASDAQ">ADBE</a>) with a Overweight and maintains $635 price target.

Reiteration

ADBE

Piper Sandler Reiterates Overweight on Adobe, Maintains $635 Price Target

United Microelectronics Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UMC#NYSE">UMC</a>, TWSE: 2303))) ("UMC"), today reported unaudited net sales for the month of November 2024.
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<tbody>
<tr>
<td colspan="5" rowspan="1">Revenues for November 2024</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Period</td>
<td colspan="1" rowspan="1">2024</td>
<td colspan="1" rowspan="1">2023</td>
<td colspan="1" rowspan="1">Y/Y Change</td>
<td colspan="1" rowspan="1">Y/Y (%)</td>
</tr>
<tr>
<td colspan="1" rowspan="1">November</td>
<td colspan="1" rowspan="1">20,049,182</td>
<td colspan="1" rowspan="1">18,787,670</td>
<td colspan="1" rowspan="1">1,261,512</td>
<td colspan="1" rowspan="1">6.71%</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Jan.-Nov.</td>
<td colspan="1" rowspan="1">213,336,766</td>
<td colspan="1" rowspan="1">205,553,774</td>
<td colspan="1" rowspan="1">7,782,992</td>
<td colspan="1" rowspan="1">3.79%</td>
</tr>
</tbody>
</table>
</figure>

Earnings

United Microelectronics Reported November 2024 Net Sales Growth Of 6.71%

<h3>Companies Reporting Before The Bell</h3>
• John Wiley &amp; Sons (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WLY#NYSE">WLY</a>) is likely to report quarterly earnings at $0.70 per share on revenue of $420.00 million. 
• America's Car-Mart (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRMT#NASDAQ">CRMT</a>) is projected to report quarterly loss at $0.10 per share on revenue of $344.37 million. 
• Science Applications Intl (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SAIC#NASDAQ">SAIC</a>) is expected to report quarterly earnings at $2.16 per share on revenue of $1.93 billion. 
• Patterson Cos (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PDCO#NASDAQ">PDCO</a>) is likely to report quarterly earnings at $0.49 per share on revenue of $1.65 billion. 
• Methode Electronics (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MEI#NYSE">MEI</a>) is estimated to report quarterly loss at $0.16 per share on revenue of $268.46 million. 
• Signet Jewelers (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SIG#NYSE">SIG</a>) is projected to report quarterly earnings at $0.33 per share on revenue of $1.37 billion. 
• Dollar Gen (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DG#NYSE">DG</a>) is estimated to report quarterly earnings at $0.94 per share on revenue of $10.14 billion. 
• Korn Ferry (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KFY#NYSE">KFY</a>) is projected to report quarterly earnings at $1.21 per share on revenue of $675.35 million. 
• Movado Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MOV#NYSE">MOV</a>) is likely to report quarterly earnings at $0.00 per share on revenue of $187.70 million. 
• Lands' End (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LE#NASDAQ">LE</a>) is likely to report quarterly earnings at $0.03 per share on revenue of $315.21 million. 
• Hooker Furnishings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOFT#NASDAQ">HOFT</a>) is projected to report quarterly earnings at $0.28 per share on revenue of $101.35 million. 
• Toronto-Dominion Bank (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TD#NYSE">TD</a>) is likely to report quarterly earnings at $1.28 per share on revenue of $10.26 billion. 
• GMS (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GMS#NYSE">GMS</a>) is projected to report quarterly earnings at $2.19 per share on revenue of $1.46 billion. 
• Canadian Solar (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSIQ#NASDAQ">CSIQ</a>) is expected to report quarterly loss at $0.12 per share on revenue of $1.71 billion. 
• Duluth Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DLTH#NASDAQ">DLTH</a>) is expected to report quarterly loss at $0.32 per share on revenue of $134.93 million. 
• Kroger (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KR#NYSE">KR</a>) is projected to report quarterly earnings at $0.98 per share on revenue of $34.20 billion. 
• Canadian Imperial Bank (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CM#NYSE">CM</a>) is likely to report quarterly earnings at $1.26 per share on revenue of $4.67 billion. 
• Caleres (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAL#NYSE">CAL</a>) is estimated to report quarterly earnings at $1.36 per share on revenue of $751.36 million. 
• Bank of Montreal (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMO#NYSE">BMO</a>) is likely to report quarterly earnings at $1.73 per share on revenue of $5.98 billion. 
• Brown Forman Inc Class B Common Stock (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BF#NYSE">BF</a>) is likely to report quarterly earnings at $0.49 per share on revenue of $1.07 billion. 
• John Wiley &amp; Sons (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WLYB#NYSE">WLYB</a>) is expected to report earnings for its second quarter. 
• Build-A-Bear Workshop (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBW#NYSE">BBW</a>) is likely to report quarterly earnings at $0.65 per share on revenue of $113.40 million. 
• Tuniu (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TOUR#NASDAQ">TOUR</a>) is likely to report earnings for its third quarter. 
• Brown Forman Inc Class A Common Stock (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BF#NYSE">BF</a>) is projected to report earnings for its second quarter. 
<h3>Companies Reporting After The Bell</h3>
• Guidewire Software (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GWRE#NYSE">GWRE</a>) is likely to report quarterly earnings at $0.30 per share on revenue of $253.96 million. 
• Victoria's Secret (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VSCO#NYSE">VSCO</a>) is likely to report quarterly loss at $0.62 per share on revenue of $1.29 billion. 
• UiPath (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PATH#NYSE">PATH</a>) is likely to report quarterly earnings at $0.07 per share on revenue of $347.72 million. 
• Smith &amp; Wesson Brands (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SWBI#NASDAQ">SWBI</a>) is expected to report quarterly earnings at $0.17 per share on revenue of $133.52 million. 
• Asana (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ASAN#NYSE">ASAN</a>) is expected to report quarterly loss at $0.07 per share on revenue of $180.66 million. 
• Zumiez (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZUMZ#NASDAQ">ZUMZ</a>) is projected to report quarterly earnings at $0.03 per share on revenue of $222.04 million. 
• Domo (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DOMO#NASDAQ">DOMO</a>) is estimated to report quarterly loss at $0.15 per share on revenue of $77.55 million. 
• Lakeland Industries (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LAKE#NASDAQ">LAKE</a>) is likely to report quarterly earnings at $0.40 per share on revenue of $44.30 million. 
• Argan (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AGX#NYSE">AGX</a>) is estimated to report quarterly earnings at $1.26 per share on revenue of $225.60 million. 
• Lululemon Athletica (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LULU#NASDAQ">LULU</a>) is expected to report quarterly earnings at $2.72 per share on revenue of $2.36 billion. 
• Veeva Systems (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VEEV#NYSE">VEEV</a>) is likely to report quarterly earnings at $1.58 per share on revenue of $684.34 million. 
• Smartsheet (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMAR#NYSE">SMAR</a>) is likely to report quarterly earnings at $0.30 per share on revenue of $283.87 million. 
• GitLab (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GTLB#NASDAQ">GTLB</a>) is likely to report quarterly earnings at $0.16 per share on revenue of $188.25 million. 
• HashiCorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HCP#NASDAQ">HCP</a>) is likely to report quarterly earnings at $0.05 per share on revenue of $163.39 million. 
• Tilly's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TLYS#NYSE">TLYS</a>) is likely to report quarterly loss at $0.32 per share on revenue of $140.84 million. 
• Ulta Beauty (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ULTA#NASDAQ">ULTA</a>) is projected to report quarterly earnings at $4.52 per share on revenue of $2.50 billion. 
• Rubrik (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RBRK#NYSE">RBRK</a>) is likely to report quarterly loss at $0.40 per share on revenue of $217.53 million. 
• Petco Health and Wellness (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WOOF#NASDAQ">WOOF</a>) is projected to report quarterly loss at $0.03 per share on revenue of $1.50 billion. 
• Samsara (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IOT#NYSE">IOT</a>) is likely to report quarterly earnings at $0.04 per share on revenue of $310.56 million. 
• DocuSign (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DOCU#NASDAQ">DOCU</a>) is expected to report quarterly earnings at $0.87 per share on revenue of $745.26 million. 
• American Outdoor Brands (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AOUT#NASDAQ">AOUT</a>) is projected to report quarterly earnings at $0.20 per share on revenue of $53.23 million. 
• Hewlett Packard (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HPE#NYSE">HPE</a>) is likely to report quarterly earnings at $0.56 per share on revenue of $8.26 billion. 
• Cooper Companies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COO#NASDAQ">COO</a>) is likely to report quarterly earnings at $1.00 per share on revenue of $1.03 billion. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

AOUT

ASAN

CRMT

CSIQ

DLTH

DOCU

DOMO

GTLB

GWRE

HOFT

LAKE

LULU

PATH

PDCO

RBRK

SAIC

SMAR

SWBI

TLYS

TOUR

ULTA

VEEV

VSCO

WLYB

WOOF

ZUMZ

Earnings Scheduled For December 5, 2024

Wolfe Research analyst Nigel Coe initiates coverage on GE Vernova (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GEV#NYSE">GEV</a>) with a Outperform rating and announces Price Target of $403.

Initiation

Wolfe Research Initiates Coverage On GE Vernova with Outperform Rating, Announces Price Target of $403

Future Fund LLC Managing Partner Gary Black criticized Tesla Inc.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) holdings Wednesday, arguing they have minimal impact on the electric vehicle maker&#8217;s stock value as the cryptocurrency reached record highs.
What Happened: &#8220;The price of Bitcoin is not relevant to Tesla&#8217;s stock price,&#8221; Black wrote on X, noting that even at $100,000 per Bitcoin, Tesla&#8217;s holdings amount to roughly $0.33 per Tesla share. &#8220;My issue has always been capital allocation &#8211; shareholders can buy Bitcoin themselves.&#8221;
Black emphasized Tesla should prioritize its core business investments. &#8220;I want Tesla to build new plants, introduce new EV models, expand its energy business, invest in robotaxi,&#8221; he stated. &#8220;If there is cash left over, management can buy back Tesla stock.&#8221;
The comments came as Bitcoin surpassed $100,000 for <a href="https://www.benzinga.com/24/12/42331261/bitcoin-hits-historic-100000-milestone-michael-saylor-gets-ready-for-party">the first time</a>, reigniting debate about Tesla&#8217;s cryptocurrency investments. Black has consistently opposed Tesla&#8217;s Bitcoin holdings, arguing in June 2021 that they distract from the company&#8217;s EV mission and raise questions about earnings quality.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The price of <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> is not relevant to TSLA's stock price (at <a href="https://twitter.com/hashtag/btc?src=hash&amp;ref_src=twsrc%5Etfw">#btc</a> = $100K, TSLA <a href="https://twitter.com/hashtag/btc?src=hash&amp;ref_src=twsrc%5Etfw">#btc</a> holdings are worth roughly $.33 per TSLA share). My issue has always been capital allocation &#8211; shareholders can buy <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> themselves. I want TSLA to build new plants, introduce new EV models,… <a href="https://t.co/dbqjpmyL5F">https://t.co/dbqjpmyL5F</a>
&mdash; Gary Black (@garyblack00) <a href="https://twitter.com/garyblack00/status/1864543038481322009?ref_src=twsrc%5Etfw">December 5, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/24/12/42331990/dogecoin-follows-bitcoins-100k-flourish-with-9-rally-bullish-predictions-galore-but-watch-out-for-the-lofty-ones">Dogecoin Follows Bitcoin&#8217;s $100K Flourish With 9% Rally As Bullish Predictions Rise, But Here&#8217;s What You Should Know</a>
Why It Matters: Black&#8217;s The Future Fund Active ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FFND#NYSE">FFND</a>) reduced its Tesla position to 4.31% from 12.2%, making it <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41870590/tesla-remains-core-for-gary-black-despite-price-cuts-earnings-drop-nvidia-google-eli-lilly-among-top-performers-in-tech-bulls-portfolio">their fifth-largest holding</a>. 
The Future Fund&#8217;s <a href="https://www.benzinga.com/markets/24/11/42159444/gary-black-defends-tesla-trim-at-351-no-one-ever-went-broke-by-taking-profits-amid-stocks-150-surge">average Tesla stock purchase price</a> since early 2023 has been $162, with sales averaging $252. Despite recent criticism from Tesla bulls, Black defended his investment strategy, stating, &#8220;That&#8217;s what professional investors do – buy low, sell high.&#8221;
Tesla maintains its position as the EV market leader with a market cap exceeding $1 trillion.
Price Action: Tesla&#8217;s stock closed at $357.93 on Wednesday, up 1.85% for the day. In after-hours trading, the stock dipped 0.34%. Year to date, Tesla&#8217;s stock has surged 44.08%.
Data from Benzinga Pro shows <a href="https://www.benzinga.com/quote/TSLA/analyst-ratings">Tesla has a consensus price target</a> of $246.16 from 34 analysts, with estimates ranging from a high of $411 to a low of $24.86. Recent ratings from Roth MKM, Stifel, and UBS average $339, suggesting a 4.96% downside from Tesla&#8217;s current price.
<figure class="wp-block-image size-large"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/05024402/Screenshot-2024-12-05-at-1.12.45%E2%80%AFPM-1024x381.png" alt="" class="wp-image-678059" /></figure>
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42331483/michael-saylors-bitcoin-strategy-drives-microstrategys-490-surge-hedge-fund-cio-says-its-an-extreme-example-of-volatility-monetization">Michael Saylor&#8217;s Bitcoin Strategy Drives MicroStrategy&#8217;s 490% Surge, Hedge Fund CIO Says It&#8217;s An &#8216;Extreme Example&#8217; Of Volatility Monetization</a></li>
</ul>
Image Via Shutterstock 
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Equities

$BTC

FFND

TSLA

Gary Black Says Tesla's Bitcoin Holdings Not 'Relevant' To TSLA's Stock Price, Urges Focus On EV Expansion And Share Buybacks

The <a href="https://www.benzinga.com/general/education/24/07/39717220/warren-buffett-indicator-sounds-alarm-stock-market-levels-now-surpass-dot-com-bubble-great-fina">Buffett Indicator</a> &#8211; a market valuation measure &#8211; is signaling potential danger as it surpasses levels witnessed during the Dot-Com Bubble and the Great Financial Crisis.
What Happened: This indicator, attributed to&nbsp;Berkshire Hathaway Inc&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) CEO Warren Buffett, compares&nbsp;the market capitalization of stocks&nbsp;to the Gross Domestic Product (GDP) to determine if&nbsp;equities are overvalued or undervalued. 
The total market index,&nbsp;tracked by the Wilshire 5000,&nbsp;and the U.S. GDP are used to calculate this ratio. The Wilshire 5000, a market-cap-weighted index, tracks&nbsp;all U.S. publicly traded companies,&nbsp;which includes more than 3,000 firms. The higher the ratio, the more overvalued the market is deemed to be.
Data from Longtermtrends <a href="https://www.longtermtrends.net/market-cap-to-gdp-the-buffett-indicator/">reveals</a> that the current Wilshire 5000-to-GDP ratio stands at approximately 208%, surpassing levels seen prior to both the Dot-Com Bubble and the Great Financial Crisis. 
See Also: <a href="https://www.benzinga.com/markets/24/12/42309028/sp-500s-record-breaking-streak-in-2024-could-signal-caution-for-investors-in-2025-warn-analysts-stocks-do-not-go-up-forever">S&amp;P 500&#8217;s Record-Breaking Streak In 2024 Could Signal Caution For Investors In 2025, Warn Analysts: &#8216;Stocks Do Not Go Up Forever&#8217;</a>
For context, during the height of the Internet stock frenzy in 2000, the Buffett Indicator reached 140%. In 2007, just before the subprime mortgage crisis disrupted global markets, the ratio was around 110%.
In a Fortune <a href="https://www.forbes.com/sites/chuckjones/2016/06/21/warren-buffetts-gdp-to-market-cap-ratio-signaling-low-returns/">article</a> from 2001, Buffett characterized this level as &#8220;playing with fire&#8221; alluding to the dotcom bubble.
&#8220;Nearly two years ago the ratio rose to an unprecedented level,&#8221; Buffett wrote.
&#8220;That should have been a very strong warning signal.&#8221;
Why It Matters: Berkshire has been offloading stocks and <a href="https://www.benzinga.com/markets/equities/24/11/42153356/is-warren-buffett-preparing-for-a-market-downturn-with-berkshire-hathaways-325b-cash-pile-analyst-says-internet-bubble-and-2008-crash-may-have-lessons">bolstering its cash reserves</a> recently. This could be a sign of Buffett&#8217;s wariness of an overpriced market, or it could be setting the stage for potential acquisitions. Buffett has previously expressed that Berkshire would be receptive to such opportunities.
Despite this warning, some analysts remain optimistic about the stock market's future.&nbsp;Bank of America analysts&nbsp;have predicted&nbsp;<a href="https://www.benzinga.com/economics/macro-economic-events/24/12/42276232/bank-of-america-eyes-sp-500-at-6666-in-2025-we-are-expecting-another-good-year-for-equities" target="_blank" rel="noreferrer noopener">a positive outlook for stocks in 2025</a>, with the S&amp;P 500 Index expected to reach 6,666 by the end of 2025, marking a 10% increase from current levels. This forecast is based on confidence in productivity gains, resilient corporate earnings, and strategic sector rotation.
Ark Invest's Cathie Wood&nbsp;has also expressed&nbsp;<a href="https://www.benzinga.com/markets/equities/24/12/42262916/ark-invests-cathie-wood-says-stock-market-will-broaden-out-under-trump-but-growth-wont-be-linear-nothing-goes-up-in-a-straight-line" target="_blank" rel="noreferrer noopener">her positive outlook</a>&nbsp;for the stock market under President-elect Donald Trump's administration. She believes that the market is already starting to anticipate a shift, indicating potential future growth.
According to data from <a href="http://pro.benzinga.com">Benzinga Pro</a>, the S&amp;P 500 index, which is tracked by SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), has gained 28.33% so far this year. During the same period, the tech-heavy Nasdaq-100, which is tracked by Invesco QQQ Trust Series 1 (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), is up 29.91%. 
Read Next:
<ul>
<li><a href="https://www.benzinga.com/24/12/42331812/trumps-antitrust-chief-pick-gail-slater-signals-difficult-days-ahead-for-google-heres-why-jim-cramer-sounds-the-alarm">Jim Cramer Says Google Could Be In Hot Water As Trump Taps Gail Slater For Antitrust Position: &#8216;Not A Friend Of Big Tech&#8217;</a></li>
</ul>
Image via Shutterstock

General

Warren Buffett Labeled It 'Playing With Fire' When The Indicator Named After Him Reached 140% — Cut To Today And Its Over 200%: Is A Market Downturn Looming?

The CNN Money Fear and Greed index showed some improvement in the overall market sentiment, while the index remained in the &#8220;Greed&#8221; zone on Wednesday.
U.S. stocks settled higher on Wednesday, with the Dow Jones index closing above the 45,000 level for the first time.
Shares of Salesforce Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NYSE">CRM</a>) surged around 11% on Wednesday after the company posted better-than-expected fiscal third-quarter revenue. Shares of Marvell Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRVL#NASDAQ">MRVL</a>) climbed around 23% after the chipmaker topped earnings expectations and issued upbeat fourth-quarter guidance.
On the economic data front, U.S. private businesses added 146K workers to their payrolls for the month of November compared to a revised 184K gain in October, versus market estimates of 150K. U.S. factory orders rose by 0.2% from the previous month to $586.7 billion in October. The ISM services PMI fell to 52.1 in November compared to 56 in October and down from market estimates of 55.5.
Most sectors on the S&amp;P 500 closed on a negative note, with energy, materials, and financial stocks recording the biggest losses on Wednesday. However, consumer discretionary and information technology stocks bucked the overall market trend, closing the session higher.
The Dow Jones closed higher by around 309 points to 45,014.04 on Wednesday. The S&amp;P 500 rose 0.61% to 6,086.49, while the Nasdaq Composite climbed 1.30% to close at 19,735.12 during Wednesday's session.
Investors are awaiting earnings results from Dollar General Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DG#NYSE">DG</a>), Kroger Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KR#NYSE">KR</a>), and Lululemon Athletica Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LULU#NASDAQ">LULU</a>) today.
What is CNN Business Fear &amp; Greed Index?
At a current reading of 57.1, the index remained in the &#8220;Greed&#8221; zone on Wednesday, versus a prior reading of 56.4.
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: 
<ul>
<li><a href="https://www.benzinga.com/trading-ideas/short-ideas/24/12/42313903/top-3-tech-and-telecom-stocks-that-may-implode-this-quarter">Top 3 Tech And Telecom Stocks That May Implode This Quarter</a></li>
</ul>
Photo courtesy: Shutterstock

Pre-Market Outlook

Trading Ideas

MRVL

Dow Settles Above 45,000 For First Time As Salesforce, Marvell Surge: Investor Sentiment Improves, Fear Index In 'Greed' Zone

Equinor UK Ltd, a subsidiary of Equinor ASA (OSE: EQNR, NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EQNR#NYSE">EQNR</a>, "Equinor") and Shell UK Limited, a subsidiary of Shell plc (LSE: SHEL, NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ADR#NYSE">ADR</a>, AMS EURONEXT: SHELL, "Shell") are to combine their UK offshore oil &amp; gas assets and expertise to form a new company which will be the UK North Sea's biggest independent producer. The incorporated joint venture (IJV) will be set up to sustain domestic oil and gas production and security of energy supply in the UK. On deal completion, the new independent producer will be jointly owned by Equinor (50%) and Shell (50%), two leading global energy companies with decades of experience operating in the UK North Sea. With the once prolific basin now maturing and production naturally declining, the combination of portfolios and expertise will allow continued economic recovery of this vital UK resource. The new company will be more agile, focused, cost-competitive and strategically well positioned to maximise the value of its combined portfolios on the UK Continental Shelf.

EQNR

SHEL

Equinor And Shell To Merge UK Offshore Oil & Gas Assets To Form Largest Independent North Sea Producer

With U.S. stock futures trading mixed this morning on Thursday, some of the stocks that may grab investor focus today are as follows:
<ul>
<li>Wall Street expects Dollar General Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DG#NYSE">DG</a>) to report quarterly earnings at 94 cents per share on revenue of $10.15 billion before the opening bell, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>. Dollar General shares rose 2.8% to $81.70 in after-hours trading.</li>
<li>Five Below, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FIVE#NASDAQ">FIVE</a>) reported better-than-expected results for its third quarter and issued strong guidance for fiscal 2024. The company also announced the appointment of Winnie Park as CEO and a member of its board of directors, effective Dec. 16, 2024. Five Below shares jumped 14.6% to $120.25 in the after-hours trading session.</li>
<li>Analysts are expecting The Kroger Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KR#NYSE">KR</a>) to post quarterly earnings at 98 cents per share on revenue of $34.20 billion. The company will release earnings before the markets open. Kroger shares slipped 0.1% to $59.88 in after-hours trading.</li>
</ul>
Check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
<ul>
<li>PVH Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PVH#NYSE">PVH</a>) reported better-than-expected third-quarter financial results. The company said it sees full-year adjusted earnings of $11.55 to $11.70 per share and lowered its GAAP operating margin outlook to 9.2% from 9.8%. PVH shares fell 6.7% to $105.30 in the after-hours trading session.</li>
<li>Analysts expect Lululemon Athletica Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LULU#NASDAQ">LULU</a>) to post quarterly earnings at $2.69 per share on revenue of $2.36 billion after the closing bell. Lululemon shares fell 0.2% to $341.75 in after-hours trading.</li>
</ul>
Check This Out: 
<ul>
<li><a href="https://www.benzinga.com/trading-ideas/short-ideas/24/12/42313903/top-3-tech-and-telecom-stocks-that-may-implode-this-quarter">Top 3 Tech And Telecom Stocks That May Implode This Quarter</a></li>
</ul>
Photo courtesy: Wikimedia

FIVE

Kroger, Five Below And 3 Stocks To Watch Heading Into Thursday

Reported Earlier, Woodside Energy Signs Revised EPC Contract With Bechtel For Louisiana LNG Project

LGIH

Reported Earlier, LGI Homes Closed 531 Homes In November. As Of November 30, 2024, It Had 142 Active Selling Communities

ITRI

Reported Earlier, Itron And TasWater Collaborate To Transform Water Metering With Cloud-Based Solution In Tasmania, Australia

On Wednesday, OpenAI CEO Sam Altman announced a special event titled &#8220;12 Days of OpenAI.&#8221;
What Happened: Starting Dec. 5, ChatGPT-maker will reveal a new model or feature every weekday for two weeks, posted Altman on X, formerly Twitter.
Social media users predict the unveiling of the AI video generator Sora, the complete version of the "o1" reasoning model, and better control over ChatGPT&#8217;s Advanced Voice feature.
"Each weekday, we will have a livestream with a launch or demo, some big ones and some stocking stuffers," he stated wishing everyone a &#8220;Merry Christmas.&#8221;
See Also: <a href="https://www.benzinga.com/24/12/42310095/apple-shares-hit-new-high-despite-iphone-sales-slowdown-expert-reiterates-that-street-is-starting-to-realize-iphone-16-is-the-start-of-a-super-cycle?itm_source=parsely-api">AAPL Stock Hits New High Despite Sales Slowdown: Tech Bull Says &#8216;Street Is Realizing&#8217; iPhone 16 Marks The &#8216;Start Of A Super Cycle&#8217; For Apple</a>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">&#x1f384;&#x1f385;starting tomorrow at 10 am pacific, we are doing 12 days of openai. each weekday, we will have a livestream with a launch or demo, some big ones and some stocking stuffers. we've got some great stuff to share, hope you enjoy! merry christmas.
&mdash; Sam Altman (@sama) <a href="https://twitter.com/sama/status/1864335461268754712?ref_src=twsrc%5Etfw">December 4, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Why It Matters: On the same day, OpenAI released new data stating ChatGPT now boasts 300 million weekly active users, with 1 billion user messages sent daily.
<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">Fresh numbers shared by <a href="https://twitter.com/sama?ref_src=twsrc%5Etfw">@sama</a> earlier today: 300M weekly active ChatGPT users 1B user messages sent on ChatGPT every day 1.3M devs have built on OpenAI in the US
&mdash; OpenAI Newsroom (@OpenAINewsroom) <a href="https://twitter.com/OpenAINewsroom/status/1864373399218475440?ref_src=twsrc%5Etfw">December 4, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
The latest announcement comes on the heels of a <a href="https://www.benzinga.com/news/24/10/41149788/openai-valuation-soars-to-157b-in-latest-funding-round">funding round</a> that valued the company at $157 billion.
The anticipated release of the <a href="https://www.benzinga.com/24/11/42206104/openais-sora-video-model-leak-exposes-deep-rift-with-artists-unpaid-rd-pr-puppets-and-content-approval-fury-what-you-need-to-know">Sora video model</a> has already stirred controversy after a group of beta testers leaked the model, accusing OpenAI of exploiting artists.
OpenAI is also reportedly planning to launch a new AI agent, <a href="https://www.benzinga.com/media/24/11/41964846/openais-operator-ai-agent-will-perform-tasks-like-coding-travel-booking-and-more-launch-expected-in-january-next-year-report">codenamed &#8220;Operator&#8221;</a> in January.
Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/global/24/12/42260943/tesla-rival-byd-assembles-over-30-of-ipads-for-apple-and-plans-ai-robots-for-nvidia-how-warren-buffett-backed-firm-is-supporting-tim-cook-led-tech-empire?itm_source=parsely-api">BYD Surpassed Tesla In Quarterly Revenue For The First Time In Q3. It Assembles Over 30% Of iPads For Apple, And Is Now Planning To Build AI Robots For Nvidia</a></li>
</ul>
Photo courtesy: Shutterstock
Disclaimer:&nbsp;This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Tech

Sam Altman Teases '12 Days Of OpenAI' Christmas Magic — Users Predict Unveiling Of Sora, o1 Reasoning Model And More

AMBA

Reported Earlier, LG And Ambarella Partner To Showcase AI-Driven In-Cabin Vehicle Safety Solutions At CES 2025

Germany Factory Orders (MoM) For October -1.5% Vs. -2.0% Est.; 4.2% Prior

nCino is providing guidance for its fiscal year 2025, ending January&nbsp;31, 2025, as follows:
<ul>
<li>Total revenues between $539.0 million and $541.0 million.</li>
<li>Subscription revenues between $467.0 million and $469.0 million.</li>
<li>Non-GAAP operating income between $95.0 million and $96.0 million.</li>
<li>Non-GAAP net income attributable to nCino per diluted share of $0.72 to $0.73.</li>
</ul>

Guidance

Reported Earlier, nCino Issues Correction For 2025 Outlook: Sees FY 2025 Non-GAAP OF $0.72-$0.73 (Previously Reported $0.75-$0.76) Vs $0.68 Est.

Dollar General Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DG#NYSE">DG</a>) will release earnings results for the third quarter, before the <a href="https://www.benzinga.com/quote/DG/earnings">opening bell on Thursday, Dec. 5.</a>
Analysts expect Dollar General to report quarterly earnings at 94 cents per share. That's down from $1.26 per share a year ago. The Goodlettsville, Tennessee-based company projects to report quarterly revenue of $10.14 billion, compared to $9.69 billion a year earlier, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
On Aug. 29, the retail behemoth reported second-quarter earnings per share of $1.70, missing the analyst consensus of $1.78. Quarterly sales of $10.21 billion (+4.2% year over year) missed the street view of $10.368 billion.
Dollar General shares gained 0.6% to close at $79.50 on Wednesday.
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/TJX/analyst-ratings">analysts have rated the company</a> in the recent period.
<ul>
<li>Telsey Advisory Group analyst Joseph Feldman maintained the stock with a Market Perform rating and cut the price target from $103 to $90 on Dec. 2. This analyst has an accuracy rate of 72%.</li>
<li>BMO Capital analyst Kelly Bania maintained a Market Perform rating and decreased the price target from $90 to $80 on Nov. 18. This analyst has an accuracy rate of 67%.</li>
<li>JP Morgan analyst Matthew Boss maintained a Neutral rating and cut the price target from $97 to $82 on Nov. 5. This analyst has an accuracy rate of 65%.</li>
<li>Citigroup analyst Paul Lejeuz downgraded the stock from Neutral to Sell and cut the price target from $91 to $73 on Sept. 27. This analyst has an accuracy rate of 65%.</li>
<li>B of A Securities analyst Koji Ikeda maintained an Underperform rating and cut the price target from $118 to $95 on Aug. 30. This analyst has an accuracy rate of 65%.</li>
</ul>
Considering buying DG stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="584" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/05015311/image-39-1024x584.png" alt="" class="wp-image-677945" style="width:666px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/05015311/image-39-1024x584.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/05015311/image-39-300x171.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/05015311/image-39-768x438.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/05015311/image-39.png 1127w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Read This Next: 
<ul>
<li><a href="https://www.benzinga.com/trading-ideas/short-ideas/24/12/42313903/top-3-tech-and-telecom-stocks-that-may-implode-this-quarter">Top 3 Tech And Telecom Stocks That May Implode This Quarter</a></li>
</ul>

Dollar General Gears Up For Q3 Print; Here Are The Recent Forecast Changes From Wall Street's Most Accurate Analysts

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