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XRP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>) continued the upward march Tuesday, becoming the third-largest cryptocurrency by market capitalization after Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>).
What happened: The payment-focused cryptocurrency spiked to $2.84 early in the morning hours, just 19% shy of its all-time high. The rally propelled the market valuation to over $160 billion.
Subsequent correction wiped out some of XRP's valuation but was enough to knock Tether (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">USDT</a>) out of third place among the largest cryptocurrencies by market capitalization.
As of this writing, XRP was valued at $143.59 billion, higher than iconic Wall Street companies like Boeing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) and Nike Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NKE#NYSE">NKE</a>).
See Also: <a href="https://www.benzinga.com/24/12/42282930/cleanspark-sheds-light-on-bitcoin-acquisition-strategy-says-investments-in-core-business-contribute-the-most-to-shareholder-value">CleanSpark CEO Zach Bradford Explains Why The Company Is Betting on Bitcoin Mining, Not Buying</a>
Why It Matters: XRP has been one of the breakout performers of the ongoing cryptocurrency market bull run, leaping 82% over the week and nearly 400% in the last month.&nbsp;
The rally has been broadly supported by Donald Trump's presidential victory and a slew of bullish triggers specific to XRP's ecosystem.
Incumbent Securities and Exchange Commission Chair Gary Gensler&#8217;s departure, <a href="https://www.benzinga.com/24/12/42300549/paul-atkins-reportedly-tapped-for-sec-chair-under-trump-administration">reports </a>of cryptocurrency-friendly Paul Atkins succeeding him, jump in filings for <a href="https://www.benzinga.com/24/12/42259460/xrp-beats-solana-to-become-4th-largest-crypto-by-market-cap-on-ripples-rlusd-approval-speculation">spot exchange-traded funds</a> tied to the cryptocurrency, and the <a href="https://www.benzinga.com/24/12/42259460/xrp-beats-solana-to-become-4th-largest-crypto-by-market-cap-on-ripples-rlusd-approval-speculation">imminent launch</a> of Ripple Labs' RLUSD stablecoin.&nbsp;&nbsp;
Noted cryptocurrency analyst Michaël van de Poppe called XRP "the prime indicator" of altcoin strength.
"The last time this explosive move happened, it was the start of the altcoin period," he added.&nbsp;
<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/search?q=%24XRP&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$XRP</a> is THE prime indicator for <a href="https://twitter.com/hashtag/Altcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Altcoin</a> strength. The last time this explosive move happened, it was the start of the altcoin period. I&#39;m expecting the same, a big rotation from XRP towards other altcoins, likely to do similar moves as XRP did. <a href="https://t.co/m1Qgs2hp0c">pic.twitter.com/m1Qgs2hp0c</a>
&mdash; Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1864031080614871261?ref_src=twsrc%5Etfw">December 3, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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Price Action: At the time of writing, XRP was trading at $2.53, down 5.93% 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/24/12/42282144/will-your-bitcoin-holdings-be-at-risk-if-trump-establishes-a-national-reserve-analyst-says-government-can-employ-carrot-and-stick-policy">Can Your Bitcoin Be Confiscated If Trump Establishes A National Reserve? Analyst Says Government Can Employ Carrot-And-Stick Policy</a></li>
</ul>

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XRP Becomes Third-Most Valued Crypto — Beats Boeing, Nike In Market Capitalization

Salesforce Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NYSE">CRM</a>) and Palantir Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>) are leading what Wedbush Securities Managing Director Dan Ives describes as an &#8220;AI revolution&#8221; in the enterprise software industry, with Oracle Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NYSE">ORCL</a>) set to benefit from the transformation in 2025, Ives said in an interview on Tuesday.
What Happened: Following Salesforce&#8217;s latest earnings report, Ives <a href="https://www.youtube.com/watch?v=i9X0RqoP1oQ">described</a> the quarter as &#8220;Goldilocks,&#8221; in a CNBC interview highlighting the company&#8217;s stronger-than-expected top-line performance and revenue guidance. 
Salesforce <a href="https://www.benzinga.com/news/earnings/24/12/42302924/salesforce-q3-earnings-revenue-beat-eps-miss-free-cash-flow-up-30-ai-driving-groundbreaking-transformation-and-more">reported third-quarter</a> revenue of $9.44 billion, with remaining performance obligations up 10%, despite missing bottom-line estimates.
&#8220;This is a phenomenal balance of growth,&#8221; Ives said, dismissing concerns about the earnings miss. &#8220;Right now you want to see them focus on spending, especially when it comes to what they&#8217;re building out from an AI perspective.&#8221;
Salesforce&#8217;s Agent Force initiative could generate &#8220;$5-6 billion a year&#8221; in revenue, according to Ives, who sees &#8220;massive upside&#8221; for the company&#8217;s stock. The enterprise software giant&#8217;s shares closed at $331.43, up 0.13% on Tuesday.
See Also: <a href="https://www.benzinga.com/24/12/42306850/bitcoin-ethereum-dogecoin-power-down-amid-south-korea-political-turmoil-top-analyst-shares-strategy-for-altcoin-holdersavoid-chasing-fomo-take-profits">Bitcoin, Ethereum, Dogecoin Power Down Amid South Korea Political Turmoil: Analyst Shares Strategy For Altcoin Holders — Avoid Chasing FOMO, Take Profits</a>
Why It Matters: Meanwhile, Palantir Technologies has emerged as a frontrunner in the AI transformation. The company&#8217;s stock surged 6.88% to close at $70.96 after receiving FedRAMP High Authorization for its Federal Cloud Service, expanding its capability to <a href="https://www.benzinga.com/news/legal/24/12/42292744/whats-going-on-with-palantir-technologies-stock-today-9">serve U.S. government agencies</a>.
Ives emphasized that the AI revolution extends beyond the &#8220;Magnificent Seven&#8221; tech giants, affecting various sectors including software, cybersecurity, and storage. &#8220;The biggest tech trend in the last 40 to 50 years,&#8221; he noted, suggesting investors are comfortable with increased spending as long as companies demonstrate growth and deal flow.
Looking ahead to 2025, Ives sees the AI transformation spreading across the software industry, with Palantir leading the charge followed by Salesforce and Oracle, marking what he calls &#8220;a renaissance of growth&#8221; for the sector.
Read Next: 
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<li><a href="https://www.benzinga.com/news/global/24/12/42306717/south-korean-markets-plunge-amid-political-turmoil-as-president-yoons-martial-law-u-turn-sparks-uncertainty-samsung-sk-hynix-and-hyundai-stocks-tumble">South Korean Markets Plunge Amid Political Turmoil As President Yoon&#8217;s Martial Law U-Turn Sparks Uncertainty: Samsung, SK Hynix, And Hyundai Stocks Tumble</a></li>
</ul>
Image via Pexels
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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Palantir Paving The Way For AI Transformation, With Salesforce And Oracle To Follow, Says Dan Ives: The AI Revolution Goes Beyond Magnificent 7

Alex Mashinsky, the disgraced founder and ex-CEO of cryptocurrency lender&nbsp;Celsius Network, admitted guilt to two counts of fraud on Tuesday.
What Happened: Despite his initial plea of not guilty, Mashinsky confessed to two of the seven charges during a hearing before a U.S. District Judge, according to a Reuters report.
The charges included commodities fraud and a&nbsp;scheme to manipulate the price&nbsp;of Celsius (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">CEL</a>), Celsius' in-house token.
Mashinsky admitted to&nbsp;providing Celsius customers with &#8220;false comfort&#8221; by falsely claiming in a 2021 interview that Celsius had received regulatory approval for its &#8220;Earn&#8221; program. He also confessed to not disclosing&nbsp;that he had been selling&nbsp;his CEL holdings, the platform&#8217;s in-house token.
&#8220;I&nbsp;know what I did was&nbsp;wrong, and I want to&nbsp;try to do whatever I&nbsp;can to make it right,&#8221; Mashinsky stated. He&nbsp;agreed not to appeal any&nbsp;sentence of 30 years or&nbsp;less, the maximum sentence for the two counts. His sentencing is scheduled for Apr. 8, 2025.
See Also:&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42300561/matterfi-introduces-infrastructure-to-address-phishing-cybersecurity-risks-in-digital-finance">MatterFi Introduces Infrastructure To Address Phishing, Cybersecurity Risks In Digital Finance</a>
Influential financial market commentator Peter Schiff said it was &#8220;obvious&#8221; that Mashinsky was a fraudster. He posted an old clip of his argument with Mashinsky over Bitcoin&#8217;s (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) yield-generating potential.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Celsius founder Alex Mashinsky finally pleaded guilty to two counts of fraud and now faces a maximum 30-year prison sentence. However, it was obvious to me that he was a fraudster based on a single conversation. Why did it take authorities so long to figure out the obvious? <a href="https://t.co/sxWpXffcPq">pic.twitter.com/sxWpXffcPq</a>
&mdash; Peter Schiff (@PeterSchiff) <a href="https://twitter.com/PeterSchiff/status/1864106310335144191?ref_src=twsrc%5Etfw">December 4, 2024</a></blockquote>
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Why It Matters: Mashinsky was <a href="https://www.benzinga.com/markets/cryptocurrency/23/07/33216173/celsius-ceo-arrested-in-wake-of-crypto-lenders-collapse-sec-files-securities-fraud-lawsuit">charged</a> with&nbsp;seven counts of fraud, conspiracy, and market manipulation in 2023 and subsequently taken into custody. 
His arrest followed the collapse of Celsius Network and a Department of Justice inquiry into the company&#8217;s downfall. The Securities and Exchange Commission also filed a lawsuit against Mashinsky and Celsius, alleging securities fraud.
Celsius was among several prominent <a href="https://www.benzinga.com/22/12/29941575/the-ftx-implosion-serves-as-a-stark-reminder-of-the-technological-promise-of-blockchain">cryptocurrency companies that imploded in 2022</a>. The collapse of Terra (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/luna/usd">LUNA</a>) and a downturn in the digital-asset markets left Celsius with a significant deficit in its balance sheet, rendering it unable to handle a surge in customer withdrawal requests. The company applied for bankruptcy protection in 2022.
However, Celsius managed to officially exit bankruptcy in early 2024, beginning a $3 billion repayment to its creditors. This marked the end of an 18-month restructuring process following the approval of the company&#8217;s reorganization plan by the Bankruptcy Court for the Southern District of New York.
Photo Courtesy: Web Summit on Flickr
Read Next:&nbsp;
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42300582/dogecoin-doge-in-the-limelight-as-elon-musk-vivek-ramaswamy-to-address-congress-members-on-thursday">Dogecoin, D.O.G.E In The Limelight As Elon Musk, Vivek Ramaswamy To Address Congress Members On Thursday</a></li>
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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.

$CEL

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Celsius Network Founder Alex Mashinsky Pleads Guity To Two Counts Of Fraud, Including Manipulating In-House Crypto's Price

KULR Technology Group Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KULR#NASDAQ">KULR</a>) shares are up roughly 72% to $1.39 over the trailing week, though closed marginally lower Tuesday. The company last week was awarded a <a href="https://www.benzinga.com/pressreleases/24/11/g42162713/kulr-awarded-u-s-navy-contract-to-develop-high-temperature-internal-short-circuit-cells-for-enhanc">contract</a> by the U.S. Navy.
KULR early Tuesday also said the company <a href="https://www.benzinga.com/pressreleases/24/12/g42290212/kulr-announces-immediate-availability-of-nasa-certified-m35a-battery-cells-for-jsc-20793-packs">launched</a> NASA-certified M35A battery cells, qualified for space-ready JSC 20793-compliant battery packs, and integral to NASA&#8217;s Artemis II mission.
What To Know: KULR, in a press release last week, emphasized that this advancement is critical for safety-critical applications, particularly in aviation, where it aligns with the rigorous safety standards of the FAA and EASA.
Originally developed in collaboration with NASA and the National Renewable Energy Laboratory, KULR states the ISC devices induce controlled thermal runaway in lithium-ion batteries, enabling safer and more precise testing under highly controlled conditions.
KULR also highlighted that the improved devices will deliver deeper insights into battery performance under extreme conditions, bolstering resilience and enhancing safety across high-stress environments, supporting both military, commercial and industrial applications.
Read Also: <a href="https://www.benzinga.com/news/global/24/12/42299162/us-stocks-pause-south-korea-etfs-fall-on-political-turmoil-oil-prices-rise-above-70-whats-driving-markets-tuesday">US Stocks Pause, South Korea ETFs Fall On Political Turmoil, Oil Prices Rise Above $70: What&#8217;s Driving Markets Tuesday?</a>
<h2 class="wp-block-heading">How To Buy KULR Stock</h2>
Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.
For example, in KULR Tech Group's case, it is in the Industrials sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.
According to data from&nbsp;<a href="https://benzinga.grsm.io/register174" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>, KULR has a 52-week high of $1.67 and a 52-week low of $0.10.

KULR

KULR Technology Stock Is Up 70% Over The Past Week: What's Going On?

Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) CEO Mark Zuckerberg is seeking to play an &#8220;active role&#8221; in shaping technology policies under the administration of President-elect Donald Trump.
What Happened: On Tuesday in a briefing with journalists, Nick Clegg, Meta&#8217;s president of global affairs, said that Zuckerberg intends to play &#8220;an active role&#8221; in discussions about preserving U.S. leadership in technology, <a href="https://www.ft.com/content/69f86be5-ecdd-4222-92aa-3df0a8db213c">reported</a> the Financial Times.
Last week, it was reported that <a href="https://www.benzinga.com/markets/24/11/42227958/mark-zuckerberg-and-trump-reportedly-met-at-mar-a-lago">Zuckerberg met with Trump</a> at Mar-a-Lago, expressing gratitude for the invitation.
Clegg also admitted that the company &#8220;overdid it a bit&#8221; with content moderation during the pandemic, which seems to be an effort to appease Trump, who has accused Meta of censorship.
See Also: <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>
The Meta executive said that the company is <a href="https://www.benzinga.com/tech/24/12/42302411/meta-platforms-talks-political-misinformation-content-moderation-in-latest-blog">committed to refining its content</a> moderation practices to ensure "precision and accuracy," admitting the company has faced user backlash over removing non-harmful content.
Why It Matters: Earlier this year, Trump had threatened legal action against Zuckerberg, accusing him of plotting against him while appearing friendly during visits to the Oval Office.
In July this year, <a href="https://www.benzinga.com/news/24/07/39759624/meta-removes-heightened-penalties-on-donald-trumps-accounts-a-day-after-ex-president-threatens-to-pu">Meta lifted additional restrictions</a> on Trump&#8217;s accounts, after he threatened to take legal action against Zuckerberg.
Meanwhile, Meta reported <a href="https://www.benzinga.com/news/earnings/24/10/41637326/meta-platforms-q3-earnings-revenue-beat-eps-beat-daily-actives-up-5-strong-momentum-in-ai">third-quarter revenue</a> of $40.59 billion, surpassing <a href="https://www.benzinga.com/calendars/earnings">analyst expectations</a> of $40.29 billion. The company also reported adjusted earnings of $6.03 per share for the quarter, exceeding the projected $5.25 per share.
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.
This marks the seventh straight quarter in which Meta has outperformed analyst estimates for both revenue and earnings, <a href="http://pro.benzinga.com/">according to Benzinga Pro</a>.
Price Action: Meta&#8217;s stock rose 3.51% on Tuesday, finishing the day at $613.65. During after-hours trading, it saw a slight uptick of 0.059%, reaching $614.01. Year-to-date, Meta&#8217;s shares have surged by 77.21%, significantly outperforming the Nasdaq 100 index, which has gained 28.32% in the same period.
Based on evaluations from 41 analysts, Meta&#8217;s consensus price target stands at $639.05, with the highest projection of $811 issued by Rosenblatt on Oct. 31, 2024. Recent ratings from Raymond James, Wells Fargo, and Citigroup average at $673.67, implying a potential 9.72% upside.
<figure class="wp-block-image size-large"><a href="https://www.benzinga.com/quote/META/analyst-ratings"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/03210454/Screenshot-2024-12-04-at-7.34.49%E2%80%AFAM-1024x363.png" alt="" class="wp-image-675599" /></a></figure>
Image via Shutterstock
Check out more of Benzinga&#8217;s Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
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<li><a href="https://www.benzinga.com/news/global/24/11/42240301/elon-musk-calls-apple-airpods-pro-2s-hearing-aid-feature-cool-as-tim-cook-celebrates-the-innovation?itm_source=parsely-api">Elon Musk Lauds Apple AirPods Pro 2&#8217;s Hearing Aid Feature As Tim Cook Highlights The Affordable Solution To What Otherwise Costs Up To $7,000</a></li>
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Disclaimer: 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.

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Zuckerberg Seeks 'Active Role' In Trump's Tech Policies, Says Top Executive — Admits Meta 'Overdid It' During Pandemic Content Crackdown

Leading cryptocurrencies traded flat Tuesday even as the stock market closed at new records.&nbsp;
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<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>-0.35%</td>
<td>$95,699.46</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>-0.27%</td>
<td>$3,627.03</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>-1.50%</td>
<td>$0.4143</td>
</tr>
</tbody>
</table>
</figure>
What Happened: Bitcoin had a rocky journey, falling to $93,645 in the morning before recovering to $96,000.
The volatility came amid <a href="https://www.benzinga.com/news/global/24/12/42301885/south-korea-etfs-won-pare-losses-as-yoon-makes-u-turn-on-martial-law-declaration">huge political drama</a> in South Korea, as President Yoon Suk Yeol revoked a martial law decree just hours after it was announced.
Bitcoin's market dominance fell by more than 6%, while altcoins recorded a significant jump in share.&nbsp;
The volatile movement led to more than $621 million in cryptocurrency liquidations in the last 24 hours, with bullish leveraged bets accounting for $389 million.
Bitcoin's Open Interest (OI) fell by 2.26% in the last 24 hours. Interestingly, most top traders, i.e., those with the highest margin balance, continue to be bullish on Bitcoin, as per the Long/Shorts Ratio.
The "Extreme Greed" strengthened from 76 to 78 in the last 24 hours, per the Cryptocurrency Fear &amp; Greed Index, indicating expectations of future upsides.
Top Gainers (24-Hours)
<figure class="wp-block-table"> 
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<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 7:45 p.m. ET)</td>
</tr>
<tr>
<td>Reserve Rights (RSR)</td>
<td>+162.63%</td>
<td>$0.02651</td>
</tr>
<tr>
<td>Tron (TRX)</td>
<td>+90.37%</td>
<td>$0.4195</td>
</tr>
<tr>
<td>Neo (NEO)</td>
<td>+39.77%</td>
<td>$25.08</td>
</tr>
</tbody>
</table>
</figure>
The global cryptocurrency market capitalization stood at $3.52 trillion, following an increase of 1.70% in the last 24 hours.
Major stock indexes closed at new records on Tuesday. The S&amp;P 500 gained 0.05% to end at 6,049.88, while the tech-focused Nasdaq Composite closed 0.40% higher to 19,480.91, setting a new intraday record of 19,486.14.
The Dow Jones Industrial Average, meanwhile, dropped 0.17% to close at 44,705.53.
Exchange-traded funds tracking the South Korean market fell amid political drama surrounding martial law. The iShares MSCI South Korea ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EWY#NYSE">EWY</a>) closed down 1.59% to $55.81, while the Franklin FTSE South Korea ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FLKR#NYSE">FLKR</a>) declined 0.84% to $18.78.
Investors parsed labor market data that revealed a <a href="https://www.benzinga.com/24/12/42298121/crude-oil-surges-2-us-job-openings-increase-in-october">higher-than-expected jump</a> in job openings for October compared to September.
See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>
Analyst Notes: Widely followed cryptocurrency analyst Justin Bennett made a bold prediction about Ethereum's future price moves.
"If I&#8217;m right about ETH, it trades back to $1,000 from current levels. If I&#8217;m wrong, Ethereum breaks $3,700 to target $4,000," he said. "I&#8217;ve placed my bet. I&#8217;ll be here to call out levels to watch if I&#8217;m right or admit if I&#8217;m wrong."
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">If I&#39;m right about <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a>, it trades back to $1k from current levels. If I&#39;m wrong, <a href="https://twitter.com/hashtag/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw">#Ethereum</a> breaks $3,700 to target $4k+. No ego or emotions, just sharing what I see. I&#39;ve placed my bet. I&#39;ll be here to call out levels to watch if I&#39;m right or admit if I&#39;m wrong. <a href="https://t.co/sb5ST5Xu5z">pic.twitter.com/sb5ST5Xu5z</a>
&mdash; Justin Bennett (@JustinBennettFX) <a href="https://twitter.com/JustinBennettFX/status/1863987702766403638?ref_src=twsrc%5Etfw">December 3, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Influential cryptocurrency market observer Michaël van de Poppe noted how the altcoins were logging double-digit gains on a daily basis.
"The good thing: we&#8217;re just getting started. The bad thing: people will lose a lot, too," he remarked.&nbsp;
Van De Poppe advised his followers not to chase FOMO and "take profits of the table."
<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">The <a href="https://twitter.com/hashtag/Altcoins?src=hash&amp;ref_src=twsrc%5Etfw">#Altcoins</a> are extremely heating up at this point. Double-digit returns day after day; it&#39;s great. The good thing: we&#39;re just getting started. The bad thing:people will lose a lot, too. Make sure to avoid chasing FOMO in those positions and take profits of the table.
&mdash; Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1864003415304770024?ref_src=twsrc%5Etfw">December 3, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Photo by Igor Faun on Shutterstock
Read Next:    
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42300582/dogecoin-doge-in-the-limelight-as-elon-musk-vivek-ramaswamy-to-address-congress-members-on-thursday">Dogecoin, D.O.G.E In The Limelight As Elon Musk, Vivek Ramaswamy To Address Congress Members On Thursday</a></li>
</ul>

$DOGE

FLKR

Bitcoin, Ethereum, Dogecoin Power Down Amid South Korea Political Turmoil: Analyst Shares Strategy For Altcoin Holders — Avoid Chasing FOMO, Take Profits

The U.S. stock markets were mixed on Tuesday, with the Dow Jones index dropping over 70 points. The NASDAQ and the S&amp;P 500 ended the day in the green, rising by 0.4% and 0.05% respectively.
These are the top stocks that gained the attention of retail traders and investors throughout the day.
Palantir Technologies Inc.
Palantir Technologies saw its stock rise by 6.88%, closing at $70.96. The stock reached an intraday high of $71.37 and a low of $66.15, marking a new 52-week high. The company announced it received FedRAMP High Authorization for its&nbsp;<a href="https://www.benzinga.com/news/legal/24/12/42292744/whats-going-on-with-palantir-technologies-stock-today-9">Federal Cloud Service</a>, enabling it to offer secure cloud services to U.S. government agencies.
Salesforce Inc.
Salesforce&#8217;s stock edged up by 0.13%, closing at $331.43. It hit an intraday high of $332.80 and a low of $323.65. The company reported third-quarter revenue of $9.44 billion, surpassing analyst expectations, though its earnings per share missed estimates. Salesforce highlighted a <a href="https://www.benzinga.com/news/earnings/24/12/42302924/salesforce-q3-earnings-revenue-beat-eps-miss-free-cash-flow-up-30-ai-driving-groundbreaking-transformation-and-more">30% increase</a> in free cash flow, driven by AI advancements.
Okta Inc.
Okta&#8217;s shares increased by 1.06%, closing at $81.71. The stock&#8217;s intraday high was $81.88, with a low of $79.58. The company reported a strong third-quarter performance, with revenue and earnings per share both beating estimates. Okta&#8217;s&nbsp;<a href="https://www.benzinga.com/news/earnings/24/12/42303322/okta-q3-earnings-revenue-beat-eps-beat-strong-guidance-shares-surge">guidance</a>&nbsp;remained robust, boosting investor confidence.
Meta Platforms Inc.
Meta Platforms experienced a 3.51% increase, closing at $613.65. The stock reached a high of $614.20 and a low of $591.25. The company addressed its evolving role in <a href="https://www.benzinga.com/tech/24/12/42302411/meta-platforms-talks-political-misinformation-content-moderation-in-latest-blog">content moderation</a> amid global elections, which may have influenced investor sentiment.
Tesla Inc.
Tesla&#8217;s stock fell by 1.59%, closing at $351.42. It recorded an intraday high of $355.69 and a low of $348.2. The Elon Musk-led company reportedly gave its Cybertruck production line workers three days off, as per a <a href="https://www.benzinga.com/24/12/42283708/tesla-gives-cybertruck-production-line-workers-three-days-off-report">recent report</a>, which might have impacted its stock performance. The schedule of workers on the Cybertruck line has reportedly been inconsistent since late October.
Prepare for the day&#8217;s trading <a href="https://editorial.benzinga.com/wp-admin/Premarket%20Movers%20&amp;%20News">with top premarket movers and news</a> by Benzinga.
Image via Shutterstock
Read Next: 
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42256519/shiba-inu-soars-to-eight-month-high-up-13-as-meme-coins-rally?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Shiba Inu Soars To Eight-Month High, Up 13% as Meme Coins Rally</a></li>
</ul>
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

OKTA

TSLA

Palantir, Salesforce, Okta, Meta, And Tesla: Why These 5 Stocks Are On Investors' Radars Today

South Korean markets traded sharply lower on Wednesday following a dramatic political upheaval that saw President Yoon Suk Yeol briefly impose and then quickly withdraw martial law <a href="https://www.benzinga.com/news/global/24/12/42301885/south-korea-etfs-won-pare-losses-as-yoon-makes-u-turn-on-martial-law-declaration">after facing parliamentary opposition</a>.
What Happened: The benchmark Kospi index fell 1.15% to 2,471.27, while the tech-heavy Kosdaq 100 dropped 2.64% as of 9:49 am local time, according to <a href="https://www.benzinga.com/pro/">data from Benzinga Pro</a>. 
The political uncertainty particularly affected major technology and industrial stocks, with Samsung Electronics Co. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SSNLF#OTC">SSNLF</a>) declining 1.12%.
NVIDIA Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) supplier SK Hynix (OTC:<a class="ticker" href="https://www.benzinga.com/stock/HXSCF#OTC">HXSCF</a>) saw its shares drop 0.061%. Other industrial heavyweights also suffered, with Hyundai Motor (OTC:<a class="ticker" href="https://www.benzinga.com/stock/HYMTF#OTC">HYMTF</a>) falling 0.70% and U.S.-listed Posco Holdings Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PKX#NYSE">PKX</a>) declining 4.36% to $47.77 on Tuesday&#8217;s regular session. Still, the stock recovered marginally in after-hours trading.
U.S.-based funds tracking South Korean equities showed signs of recovery in after-hours trading, with the iShares MSCI South Korea ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EWY#NYSE">EWY</a>) rebounding 0.25% after earlier losses exceeding 6%. The Franklin FTSE South Korea ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FLKR#NYSE">FLKR</a>) gained 0.53% after hours.
The political turbulence also impacted currency markets, with the South Korean won weakening 0.21% against the U.S. dollar to 1,416.65. 
The market reaction highlights South Korea&#8217;s crucial role in global supply chains, particularly in semiconductor manufacturing and automotive production, where many companies serve as essential suppliers to major U.S. firms.
Read Next: 
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<li><a href="https://www.benzinga.com/news/global/24/12/42305773/key-stocks-etf-to-watch-as-french-government-faces-no-confidence-vote">Key Stocks, ETF To Watch As French Government Faces No-Confidence Vote</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.

Asia

Global

HXSCF

HYMTF

NVDA

SSNLF

South Korean Markets Plunge Amid Political Turmoil As President Yoon's Martial Law U-Turn Sparks Uncertainty: Samsung, SK Hynix, And Hyundai Stocks Tumble

On Tuesday, Pershing Square Capital Management CEO Bill Ackman slammed what he said were attempts by the Biden administration to &#8220;make permanent the Deep State&#8221; in a post on X. 
What Happened: Ackman said, &#8220;Biden is attempting to make permanent the Deep State before he leaves office by burdening the government with untenable contracts so that [Donald Trump] and [Department of Government Efficiency] cannot succeed.&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">!! <a href="https://t.co/guc4kZbL2I">https://t.co/guc4kZbL2I</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1864077188380684576?ref_src=twsrc%5Etfw">December 3, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
 He said, &#8220;This needs to stop now.&#8221; The post evoked a reaction from Elon Musk, who is the co-lead of the potential government advisory commission under the upcoming Trump administration. Ackman also shared a Bloomberg <a href="https://www.bloomberg.com/news/articles/2024-12-03/biden-administration-locks-in-wfh-policies-for-some-federal-staff-ahead-of-trump">report</a> which noted that the move that could potentially disrupt President-elect Trump&#8217;s plans to reshape the federal workforce, the Biden administration has secured hybrid work protections for tens of thousands of federal employees.
The American Federation of Government Employees and the Social Security Administration reached an agreement last week, safeguarding telework until 2029. The AFGE represents 42,000 SSA workers. Biden&#8217;s recently departed SSA Commissioner Martin O&#8217;Malley finalized a new deal that protects the worker&#8217;s current remote work agreements.
The report suggested that unions have been pushing the Biden administration to renew collective bargaining agreements with federal employees ahead of the Trump inauguration on January 20.
See Also: <a href="https://www.benzinga.com/24/12/42258387/biden-grants-full-and-unconditional-pardon-to-hunter-i-hope-americans-will-understand?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Biden Grants &#8216;Full And Unconditional&#8217; Pardon To Hunter: &#8216;I Hope Americans Will Understand&#8217;</a>
Why It Matters: DOGE been vocal about their plans to cut government spending and streamline operations. Musk has been using his social media platform to <a href="https://www.benzinga.com/news/24/11/42154736/elon-musks-social-media-onslaught-targets-federal-employees">criticize specific government departments and individuals</a>.
Musk and Ramaswamy have <a href="https://www.benzinga.com/24/11/42140065/with-musk-and-ramaswamy-preparing-to-slash-entire-government-agencies-heres-which-departments-employ-the-most-americans-and-their-salaries">hinted at the possibility</a> of reducing or eliminating certain federal agencies, as reported by <a href="https://www.benzinga.com/24/11/42140065/with-musk-and-ramaswamy-preparing-to-slash-entire-government-agencies-heres-which-departments-employ-the-most-americans-and-their-salaries">Benzinga</a>. The recent move by the Biden administration to secure WFH policies could potentially complicate these plans.
Ackman said earlier this month that he would consider joining DOGE. Notably, Ackman is a <a href="https://www.benzinga.com/general/health-care/24/11/41849583/bill-ackman-says-hed-consider-joining-elon-musks-department-of-government-efficiency-under-trump">strong supporter</a> of the President-elect and has stated that he is unfazed by market reactions to a second Trump administration.
Notably, the buzz around DOGE has propelled Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) at times. The latest <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42258934/dogecoin-bounces-9-after-bernie-sanders-views-align-with-elon-musks-doge-department">such boost</a> came when Sen. Bernie Sanders (I-Vt.) expressed support for Musk&#8217;s plan to ax wasteful defense spending.
Did You Know?
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<li>Congress Is Making Huge Investments. <a href="https://www.benzinga.com/gov-trades">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
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Government

General

Bill Ackman Says Biden Is Handcuffing Trump And Musk's DOGE Plans By Locking In Work-From-Home Deals For Federal Employees: 'This Needs To Stop Now'

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

RNAZ

President-elect Donald <a href="https://www.benzinga.com/24/12/42265694/trumps-kash-patel-fbi-pick-and-dea-nominee-could-signal-shift-in-drug-enforcement-priorities">Trump's choice to lead</a> the Drug Enforcement Administration announced on Tuesday he is withdrawing from consideration just three days after Trump made his nomination known, <a href="https://apnews.com/article/chad-chronister-trump-withdrawing-nominee-032bd91a5ef447e820e2b1f63e50861e">reported</a> the Associated Press.
Chad Chronister, Florida's Hillsborough County Sheriff, said in a post on X Tuesday evening that he will continue his duties as a Florida sheriff.
"Over the past several days, as the gravity of this very important responsibility set in, I've concluded that I must respectfully withdraw from consideration," Chronister wrote. He did not elaborate, and Trump's transition team did not immediately respond to a message from AP seeking comment.
"There is more work to be done for the citizens of Hillsborough County and a lot of initiatives I am committed to fulfilling," Chronister continued. "I sincerely appreciate the nomination, outpouring of support by the American people, and look forward to continuing my service as Sheriff of Hillsborough County."
<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">To have been nominated by President-Elect <a href="https://twitter.com/realDonaldTrump?ref_src=twsrc%5Etfw">@realDonaldTrump</a> to serve as Administrator of the Drug Enforcement Administration is the honor of a lifetime. Over the past several days, as the gravity of this very important responsibility set in, I've concluded that I must respectfully… <a href="https://t.co/bvNF8m9Bh4">pic.twitter.com/bvNF8m9Bh4</a>
&mdash; Chad Chronister (@ChadChronister) <a href="https://twitter.com/ChadChronister/status/1864068222309277751?ref_src=twsrc%5Etfw">December 3, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
<figcaption class="wp-element-caption">Chronister's nomination came at a pivotal time for the DEA, particularly as the agency navigates the federal marijuana rescheduling process. He had advocated for marijuana decriminalization, calling it the "right thing to do" as "society is evolving." Though Florida Gov. Ron DeSantis <a href="https://floridapolitics.com/archives/710176-ron-desantis-bucks-some-of-his-political-allies-backs-chad-chronister-to-dea/">endorsed</a> Chronister as head of the DEA, Trump's pick for the DEA job drew backlash from Florida conservatives, who blasted him over his actions during the COVID-19 pandemic, saying that his office "does not engage in federal immigration enforcement activities." Hillsborough County is located on the west side of the state and includes Tampa. Chronister&#8217;s withdrawal follows former Florida Republican congressman Matt Gaetz, Trump's first choice for attorney general, who <a href="https://www.benzinga.com/24/11/42119848/matt-gaetz-withdraws-name-from-ag-nomination-calls-sex-trafficking-controversy-a-distraction">pulled his name</a> for a post as attorney general after widespread criticism over scrutiny over multiple <a href="https://www.benzinga.com/news/legal/24/11/42078192/trumps-attorney-general-pick-matt-gaetz-resigned-from-congress-ethics-committee-to-decide-if-report-will-be-released" target="_blank" rel="noreferrer noopener">sex trafficking investigations</a>.</figcaption></figure>
Photo: Official photo of Chad Chronister in a June 2019 news conference

Cannabis

Politics

Legal

Trump's DEA Pick Withdraws From Consideration, Will Keep Job As Florida Sheriff

Planet 13 Holdings (OTC:<a class="ticker" href="https://www.benzinga.com/stock/PLNH#OTC">PLNH</a>), a key player in the cannabis retail and cultivation space has seen its stock drop 29% over the last 30 days, reflecting broader market pressures. However, the company presents an attractive opportunity for investors, given its discounted valuation relative to peers and its substantial growth prospects, particularly in Florida.
<ul>
<li>Get Benzinga's exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter&nbsp;<a href="https://newsletteremail.benzinga.com/subscribe" target="_blank" rel="noreferrer noopener">here</a>. You can&#8217;t afford to miss out if you're serious about the business.</li>
</ul>
<h3 class="wp-block-heading">Valuation: Discounted Yet Attractive</h3>
PLNHF is trading at $0.40 per share, with an enterprise value (EV) of $137 million, factoring in net cash of $19 million, net leases, and tax debt. A sales multiple is a common valuation metric that compares a company's market value to its revenue. This places PLNHF at a 1.1x sales multiple, lower than its competitors: Green Thumb Industries (OTC:<a class="ticker" href="https://www.benzinga.com/stock/GTBIF#OTC">GTBIF</a>) and Curaleaf (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CURLF#OTC">CURLF</a>), both at 2x, and AYR Wellness (OTC:<a class="ticker" href="https://www.benzinga.com/stock/AYRWF#OTC">AYRWF</a>) at 1.5x. PLNHF's lower multiple suggests it is valued more cheaply relative to these competitors, meaning investors are paying less for each dollar of <a href="https://www.benzinga.com/24/11/41861161/planet-13-slashes-costs-66-revenue-grows-losses-shrink-is-this-the-turning-point">PLNHF's revenue</a> compared to the others.
<a href="https://zuanicgroup.com/">Zuanic &amp; Associates</a> notes, "PLNH trades at 1.1x current sales vs. 1.5x for the group and 2x for the likes of Green Thumb and Curaleaf." 
Read Also: <a href="https://www.benzinga.com/markets/cannabis/24/12/42301372/canopy-growth-set-to-complete-acreage-acquisition-leaving-some-shareholders-potentially-open-to-losses">Canopy Growth Set To Complete Acreage Acquisition, Leaving Some Shareholders Potentially Open To Losses</a>
<h3 class="wp-block-heading">Growth Catalysts And Regulatory Exposure</h3>
While PLNHF lacks "regulatory unlock" optionality in <a href="https://www.benzinga.com/topic/ohio-cannabis">Ohio</a> and <a href="https://www.benzinga.com/topic/pennsylvania-cannabis">Pennsylvania</a>, where potential legalization could offer future upside, the company's Florida expansion is poised to drive growth. <a href="https://www.benzinga.com/topic/pablo-zuanic">Zuanic points out</a>, "With several <a href="https://www.benzinga.com/markets/cannabis/24/03/37680463/how-company-planet-13-cannabis-company-stays-green-amid-23m-revenue-and-red-ink-q4-2023-financia">organic growth catalysts</a> and a strong balance sheet, PLNH's downside risk is minimized compared to peers."
In Florida, the company plans to open 8 new stores by the end of 2024 and improve cultivation yields by 40%. PLNHF is also expanding its Nevada retail operations.
Zuanic explained that despite missing out in states like Ohio and Pennsylvania, PLNHF holds a solid financial position.&nbsp;
Read Also: <a href="https://www.benzinga.com/24/12/42300451/nasdaq-listed-high-tide-under-the-magnifying-glass-key-insights-for-cannabis-investors">NASDAQ-Listed High Tide Under The Magnifying Glass: Key Insights For Cannabis Investors</a>
<h3 class="wp-block-heading">Bottom Line: Think Long-Term&nbsp;</h3>
Despite short-term challenges, PLNHF's strategic growth initiatives—especially in <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38955155/floridas-marijuana-market-could-drive-139-revenue-spike-for-planet-13-fourfold-mark">Florida</a> and <a href="https://www.benzinga.com/markets/cannabis/24/07/39677795/planet-13-joins-fight-nights-sponsors-ufc-fighter-and-mma-cannabis-friendly-watch-parties-in-veg">Nevada</a>—position the company for long-term success. With an attractive valuation discount compared to peers, Planet 13 represents a compelling opportunity for investors looking to capitalize on the cannabis sector's evolution.
Read Next: <a href="https://www.benzinga.com/24/12/42297268/why-cannabis-industry-workers-and-employees-should-think-about-401k-plans">EXCLUSIVE: Why Cannabis Industry Workers And Employees Should Think About 401(k) Plans</a>

Guidance

Small Cap Analysis

Retail Sales

Management

AYRWF

CURALEAF HLDGS INC by Curaleaf Hldgs Inc.

CURLF

GTBIF

PLNH

PLNHF

Diversify Around And Find Out: Can Vegas Superstore And Florida Sales Boost This Weed Penny Stock?

Aswath Damodaran, finance professor at New York Univerisity&#8217;s Stern School of Business, told Bloomberg Television on Monday that he recommends buying any of the Magnificent Seven <a href="https://www.benzinga.com/tech/24/11/42143676/which-magnificent-7-stock-should-doj-target-next-benzinga-poll-finds-over-50-say">stocks on dips. </a>
What To Know: Corrections will occur and "I'd suggest that when that happens you find a way to add at least one, maybe two or three of these companies, because these are so much part of what drives the economy and the market," Damodaran said.
Read Next: <a href="https://www.benzinga.com/markets/24/12/42300548/art-cashins-lessons-cuban-crisis-trades-to-timeless-wall-street-wit">Art Cashin&#8217;s Lessons: Cuban Crisis Trades To Timeless Wall Street Wit</a>
It has been difficult to buy the dip on a Magnificent Seven stock as the tech giants have climbed throughout 2024. The Roundhill Magnificent Seven ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAGS#NASDAQ">MAGS</a>) offers equal-weight exposure to the Magnificent Seven stocks and is up nearly 60% year-to-date. 
"As a value investor, I have never seen cash machines as lucrative as these companies are," Damodaran said. "And I don't see the cash machine slowing down."
Apple, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) and Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) continue jockeying for the top position as the largest company in terms of market capitalization. Apple currently holds the largest market cap at $3.67 trillion, while Nvidia is in second place with a market cap of $3.44 trillion. Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) remains in third with a market capitalization of $3.21 trillion. 
Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), formerly the laggard of the seven, has gained more than 40% over the past month. CEO Elon Musk has grown into a trusted advisor of President-elect Donald Trump and investors are betting Tesla <a href="https://www.benzinga.com/news/global/24/12/42283558/elon-musks-doge-co-lead-already-targeting-tesla-rivals-vivek-ramaswamy-flags-stellantis-75b-loan-days-after-criticizing-rivians-66b-loan">will benefit</a> under the Trump administration. 
Though not quite a dip, Alphabet, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) shares have remained flat over the past month as the company faces ongoing litigation and <a href="https://www.benzinga.com/government/regulations/24/11/42143421/staggering-google-breakup-proposal-from-doj-a-kitchen-sink-moment-alphabet-analyst">the potential sale</a> of its Chrome browser in a federal antitrust lawsuit. 
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</ul>
Photo: Shutterstock

Large Cap

Specialty ETFs

ETFs

AAPL

GOOG

GOOGL

MAGS

MSFT

What's Going On With Magnificent 7 Stocks?

French Prime Minister Michel Barnier faces a critical vote of no confidence tomorrow (Dec. 4) after invoking Article 49.3 to pass a controversial 2025 austerity budget <a href="https://www.benzinga.com/topic/france">without parliamentary approval</a>.
The move, designed to address France's soaring deficit with $42 billion in spending cuts and $21 billion in tax hikes, has polarized the fractured National Assembly. Marine Le Pen's National Rally and the leftist New Popular Front have united in opposition, calling for Barnier's ouster. In on interview on TV today, Barnier warned that if the motion succeeds, millions of French citizens could face economic instability, including rising interest rates and tax hikes, <a href="https://www.theguardian.com/world/live/2024/dec/03/france-no-confidence-motion-government-budget-michel-barnier-latest-updates">per</a> the Guardian.
A failure to secure support would result in Barnier's government being the shortest-lived in modern French history, he only took office in September, further destabilizing the eurozone. President Emmanuel Macron would then need to appoint a new prime minister to navigate the <a href="https://www.benzinga.com/news/24/07/39657677/french-elections-take-a-surprising-turn-as-left-poised-for-victory-what-does-that-mean-for-the-marke">deeply divided parliament</a>.
France has often been a volatile market for foreign companies, but its size, manpower, favorable geographical position, and pole position in global tourism have made it a lucrative economy.
The following publicly listed companies have exposure to the French economy.
McDonald's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCD#NYSE">MCD</a>) has been operating in France since 1972. Since then, it has grown into a network of 1,485 restaurants — the most in Europe — generating billions in revenue. However, the franchise got caught evading taxes after a trade union asked the company to raise wages and introduce profit-sharing bonuses. Eventually, the firm <a href="https://drupal-cloudfront.benzinga.com/news/22/06/27724606/mcdonalds-agrees-to-settle-french-tax-case-for-1-3b-wsj">paid a $1.3 billion fine</a>.
Walt Disney Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>) opened its resort in Paris in 1992, growing it into one of the top attractions in Europe. Around 16.1 million tourists visited the park in 2023, generating $343 million in profits. The park is the largest single-site employer in the country, with 17,000 workers — making it prone to strikes that last occurred in 2023. Despite its popularity, the park has been a problematic part of Disney's portfolio and is often a drain on its resources.
IBM (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBM#NYSE">IBM</a>) has a long-standing relationship with France as one of the IT pioneers that expanded overseas seeking foreign talent.  Nowadays, IBM has over 7,000 employees in the country, working on technology services, cloud computing, AI and digital transformation solutions for businesses.
Carmaker Stellantis NV (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STLA#NYSE">STLA</a>) has a vital presence in the country, owing to its origins in the French PSA Group. It is the fourth largest automotive firm by sales, managing established brands like Citroen, Peugeot and DS Automobiles. Stellantis currently has five operating factories in different regions, producing at least 14 different models.
For investors monitoring broad exposure to domestically incorporated French companies there is iShares MSCI France ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EWQ#NYSE">EWQ</a>). It holds 60 largest French companies, including market leaders such as LVMH Moet Hennessy Louis Vuitton SE (OTC:<a class="ticker" href="https://www.benzinga.com/stock/LVMUY#OTC">LVMUY</a>), Schneider Electric, TotalEnergies SE (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TTE#NYSE">TTE</a>) and Airbus SE (OTC:<a class="ticker" href="https://www.benzinga.com/stock/EADSY#OTC">EADSY</a>).
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Eurozone

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EADSY

LVMUY

STLA

Key Stocks, ETF To Watch As French Government Faces No-Confidence Vote

Social media platform Threads, which is a part of Meta Platforms (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) is rolling out new search tools as it looks to compete with X and <a href="https://www.benzinga.com/24/11/42156013/bluesky-adds-millions-of-users-as-elon-musks-social-media-platform-faces-exodus-post-trump-win-here-are-a-few-starter-packs-to-help-you-get-going-on-latest-x-rival">fast-growing competitor Bluesky.</a>
What Happened: Threads, which like Bluesky, has been trending and gaining new subscribers as <a href="https://www.benzinga.com/24/11/41872302/taylor-swift-fans-abandon-elon-musks-x-for-bluesky-how-trumps-election-victory-triggered-swifties-uprising">people look for </a>alternatives to Elon Musk's X platform.
The Meta-owned company announced new search tools, which include the option to refine searches by a profile and date range. The update will roll out globally over the coming weeks, <a href="https://www.threads.net/@threads/post/DDFkqNuPil1">according </a>to the company.
"We're making it easier for you to search for specific posts here," the company said.
While the new search tools still pale in comparison to ways to find posts on X, Threads can better compete with Bluesky, according to a <a href="https://techcrunch.com/2024/12/02/threads-takes-on-bluesky-with-more-advanced-search/">report </a>from TechCrunch.
On Bluesky, users can search by user profiles and date ranges.
Prior to the latest Threads update, the platform offered basic search functions like using a keyword and then narrowing results based on top results or recent results.
Read Also: <a href="https://www.benzinga.com/general/social-media/24/11/42039681/x-vs-threads-vs-bluesky-does-elon-musks-social-media-site-still-reign-supreme">X Vs. Threads Vs. Bluesky: Does Elon Musk&#8217;s Social Media Site Still Reign Supreme?</a>
Why It's Important: In October, Meta CEO Mark Zuckerberg said Threads had around 275 million monthly users, averaging around one million signups daily.
Bluesky has also seen strong growth in recent months with users looking for alternates to X since the 2024 election. Bluesky had around nine million users in October and has grown to around 24 million users, according to the report.
Outside of the new search tools, Threads recently made changes that included users being able to choose their default feed.
The focus on new features could show how serious Meta is about growing Threads and/or come as Bluesky is growing in the sector.
"Engagement is growing too, so we continue to be on track towards this becoming our next major social app," Zuckerberg said in October of Threads.
At the time, Meta Chief Financial Officer Susan Li also said there were plans to bring more features to Threads given the growth potential.
&#8220;We&#8217;re very focused on continuing to build out the sort of functionality of Threads over time and being responsive to what users tell us that they&#8217;re interest in," Li said.
META Price Action: Meta Platforms stock hit an all-time high of $614.20 Tuesday before closing up 3.51% to $613.65. The stock is up 77% year-to-date in 2024.
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Photo: Shutterstock

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

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