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The Biden administration has decided not to enforce the impending TikTok ban, leaving the decision to the incoming Donald Trump administration.
What Happened: Despite the ban set to take effect on Sunday, the Biden administration will not force TikTok to shut down for U.S. users. However, the popular social media app could choose to do so voluntarily, impacting its 170 million monthly users.
&#8220;Our position on this has been clear: TikTok should continue to operate under American ownership. Given the timing of when it goes into effect over a holiday weekend a day before the inauguration, it will be up to the next administration to implement,&#8221; a White House spokesperson <a href="https://abcnews.go.com/Politics/biden-administration-leave-trump-implement-tiktok-ban/story?id=117753133">told</a> ABC News.
See Also:&nbsp;<a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/01/43021026/apple-stock-has-moved-up-4-2-since-iphone-16-launched-analyst-says-it-has-another-8-upside-as-manufacturing-cost-decline-bolsters-cupertinos-margins" target="_blank" rel="noreferrer noopener">Apple Stock Has Moved Up 4.2% Since iPhone 16 Launched, Analyst Says It Has Another 8% Upside As Manufacturing Cost Decline Bolsters Cupertino's Margins</a>
The law, which comes into effect a day before President Joe Biden leaves office, states that app stores and internet hosting services could face fines of up to $5,000 per user if they continue to provide services to TikTok.
This puts tech companies like Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>), and Oracle Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NYSE">ORCL</a>) in a precarious position.
Why It Matters: While both President Biden and President-elect Trump have limited options to delay the ban, the law does allow for a one-time extension of up to 90 days under specific conditions.
However, there is currently no indication that these conditions have been met.
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Despite attempts by Democrats to extend the deadline for TikTok&#8217;s parent company, ByteDance, to divest, Sen. Tom Cotton (R-AR) objected on the grounds of national security concerns, the report noted.
Trump&#8217;s pick for national security adviser, Florida Rep. Mike Waltz, confirmed that the incoming administration is exploring options to keep TikTok available, including a <a href="https://www.benzinga.com/general/social-media/25/01/43018125/trump-considers-executive-order-to-save-tiktok-from-being-banned-in-4-days">possible executive order</a>.
Earlier it was also reported that TikTok CEO Shou Chew is <a href="https://www.benzinga.com/media/25/01/43047509/tiktok-ceo-shou-chew-to-join-trumps-inauguration-alongside-musk-bezos-and-zuckerberg-amid-looming-us-ban-report">set to attend Trump&#8217;s inauguration</a>.
As the ban looms, <a href="https://www.benzinga.com/25/01/43035577/nio-ceo-welcomes-tiktok-users-to-rednote-amid-us-ban-concerns">users are seeking alternatives</a>. A growing number of users are turning to RedNote, a widely used Chinese social media app, known as Xiaohongshu in China.
Photo Courtesy: Shutterstock.com
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>.
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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.

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TikTok Ban Decision Left To Trump By Biden Administration: What This Means For 170 Million US Users And Big Tech

Litecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/ltc/usd">LTC</a>) surged as one of the market's biggest gainers Thursday after the Nasdaq stock exchange submitted a request to the SEC to list a spot exchange-traded fund tracking the coin's price.
What happened: The exchange submitted a 19b-4 <a href="https://listingcenter.nasdaq.com/assets/rulebook/nasdaq/filings/SR-NASDAQ-2025-005.pdf">application </a>with the regulator to list shares of an ETF applied by digital asset trading firm Canary Capital.
The filing of the 19b-4 document marks the second step in the ETF approval process, which followed Canary Capital&#8217;s amended S-1 registration application on Wednesday. According to the rules, the SEC has 240 days to deny or approve the 19b-4 application.
Responding to the filing, leading ETF analyst Eric Balchunas said that Litecoin ETF has "all the boxes checked" and is set to become the first altcoin ETF of 2025.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Litecoin ETF now has all the boxes checked. The first alt coin ETF of 2025 is about to be on the clock. I don&#39;t see any reason why this would be withdrawn either given SEC gave comments on the S-1, litecoin is seen as commodity and there&#39;s new SEC sheriff in town. <a href="https://t.co/DaE7jxlb9s">https://t.co/DaE7jxlb9s</a>
&mdash; Eric Balchunas (@EricBalchunas) <a href="https://twitter.com/EricBalchunas/status/1879936611506614589?ref_src=twsrc%5Etfw">January 16, 2025</a></blockquote>
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See Also:<a href="https://www.benzinga.com/24/12/42735744/pharma-bro-martin-shkreli-predicts-doom-for-michael-saylors-microstrategy-as-stock-dips-below-300-in-after-hours-trading"> </a><a href="https://www.benzinga.com/government/regulations/25/01/42994641/italys-largest-bank-leaps-into-bitcoin-trading-with-1-million-test-investment-but-ceo-says-he-doesnt-invest-in-btc-personally">Italy&#8217;s Largest Bank Leaps Into Bitcoin Trading With $1 Million &#8216;Test&#8217; Investment But CEO Says He Doesn&#8217;t Invest In BTC Personally</a>
The development spurred a 12% rally in LTC, a coin created from the hard fork of Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>). The proof-of-work cryptocurrency witnessed a 50% jump in trading volumes to $2.34 billion.
LTC was up over 22% year-to-date, as excitement around its potential ETF reached a fever peak.
Also dubbed the &#8220;digital silver&#8221; to Bitcoin&#8217;s gold, <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38690567/this-bitcoin-offshoot-tops-digital-payments-escapes-sec-scrutiny-but-remains-undervalued-t">Litecoin is widely seen as a commodity</a> and has escaped scrutiny from U.S. regulators.
Interestingly, the Dogecoin&#8217;s (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) network&#8217;s underlying technology is derived from Litecoin.
Speculative interest in LTC exploded, with a 23% jump in money invested in futures contracts, <a href="https://www.coinglass.com/BitcoinOpenInterest">according </a>to Coinglass.
More than 50% of traders placed bullish bets on the coin, anticipating further increases.
Price Action: At the time of writing, Litecoin was exchanging hands at  $135.30, up 13.81% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>.
Image via Pexels
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Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

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Litecoin Surges 12% After Analyst Says Altcoin Most Likely To Have Next ETF After Bitcoin, Ethereum

Billionaire investor Bill Ackman praised Hindenburg Research&#8216;s contributions to capital markets following the influential short-seller&#8217;s unexpected closure, highlighting the firm&#8217;s crucial role in exposing corporate misconduct during <a href="https://www.benzinga.com/markets/equities/25/01/43018900/from-adani-to-nikola-how-hindenburg-research-reshaped-short-selling-before-its-final-bow">its seven-year run</a>.
What Happened: &#8220;This is a great letter from the founder of Hindenburg Research,&#8221; wrote Ackman, CEO of Pershing Square Capital Management, on X. &#8220;Short selling is really hard. Done well, when the research is shared publicly, it is a very important contribution to the proper functioning of the capital markets.&#8221;
The closure announcement <a href="https://www.benzinga.com/markets/equities/25/01/43022017/indias-second-richest-mans-conglomerate-rattled-by-hindenburg-researchs-damning-report-in-2023-adds-over-5-9-billion-after-short-seller-shuts-shop">triggered market reactions across companies</a> previously targeted by Hindenburg, with India&#8217;s Adani Group seeing its listed entities gain over $5.9 billion in market value on Thursday. New Delhi Television Ltd., an Adani-owned media company, surged 13% on Indian exchanges.
Founded in 2017 by Nathan Anderson, Hindenburg gained prominence after its 2020 investigation into Nikola Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NKLA#NASDAQ">NKLA</a>) revealed the electric vehicle maker had staged a product demonstration video. The expose led to founder Trevor Milton&#8216;s conviction and four-year prison sentence for fraud.
&#8220;The shut down of Hindenburg Research is a big loss to the field. They have done some great work, which I have admired from a distance as we don't short stocks,&#8221; Ackman wrote. 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">This is a great letter from the founder of <a href="https://twitter.com/HindenburgRes?ref_src=twsrc%5Etfw">@HindenburgRes</a>, <a href="https://twitter.com/NateHindenburg?ref_src=twsrc%5Etfw">@NateHindenburg</a>, about his decision to shut down his firm. Short selling is really hard. Done well, when the research is shared publicly, it is a very important contribution to the proper functioning of the capital…
&mdash; Bill Ackman (@BillAckman) <a href="https://twitter.com/BillAckman/status/1880027354744906086?ref_src=twsrc%5Etfw">January 16, 2025</a></blockquote>
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A user on X asked Ackman about shorting Herbalife Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HLF#NYSE">HLF</a>), to which he replied, &#8220;We retired from the short selling world after HLF.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">We used to short stocks on occasion. A few over the first dozen years of the firm then we retired from the short selling world after HLF.
&mdash; Bill Ackman (@BillAckman) <a href="https://twitter.com/BillAckman/status/1880050151903097076?ref_src=twsrc%5Etfw">January 17, 2025</a></blockquote>
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See Also: <a href="https://www.benzinga.com/markets/equities/25/01/43047487/teslas-drop-against-modestly-lower-nasdaq-comes-as-investors-weigh-elon-musks-40-50-billion-tiktok-deal-gary-black-says-tsla-share-swap-unlikely-due-to-this-upcoming-milestone">Tesla&#8217;s Drop Against Modestly Lower Nasdaq Comes As Investors Weigh Elon Musk&#8217;s $40-50 Billion TikTok Deal, Gary Black Says TSLA Share Swap Unlikely Due To This Upcoming Milestone</a>
Why It Matters: The firm&#8217;s most impactful investigation targeted India&#8217;s Adani Group in 2023, erasing more than $100 billion in market value and prompting U.S. prosecutors to indict founder Gautam Adani for alleged fraud. Hindenburg&#8217;s reports sparked nearly 100 civil and criminal charges against <a href="https://www.google.com/search?q=Hindenburg+Research+benzinga&amp;oq=hindenburg+research+benzinga&amp;gs_lcrp=EgZjaHJvbWUqCAgAEEUYJxg7MggIABBFGCcYOzIGCAEQRRhAMggIAhAAGA0YHjIICAMQABgNGB4yCAgEEAAYDRgeMgYIBRBFGDwyBggGEEUYPDIGCAcQRRg80gEINDkwNGowajSoAgCwAgA&amp;sourceid=chrome&amp;ie=UTF-8">various executives and companies</a>.
Anderson cited personal reasons for disbanding the 11-person firm. His departure follows other prominent short-sellers like Jim Chanos, who closed his hedge fund in 2023. Unlike traditional investment firms, Hindenburg managed only its own capital while publishing detailed research that often triggered regulatory investigations.
The firm&#8217;s final report on Jan. 2 targeted Carvana Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVNA#NYSE">CVNA</a>), alleging accounting irregularities, which the company denied. Anderson plans to spend six months documenting Hindenburg&#8217;s investigative methods to guide future market watchdogs.
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Image via 247Wallst
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Equities

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Bill Ackman Says Hindenburg Research Closing 'A Big Loss,' Praises Short Seller's Contribution To Markets: 'Short Selling Is Really Hard'

In what could be interpreted as another optimistic signal for cryptocurrencies, Scott Bessent, President-elect Donald Trump&#8217;s nominee for Treasury Secretary, argued against the concept of&nbsp;a central bank digital&nbsp;currency in the U.S. on Thursday.
What Happened: Bessent was taking <a href="https://www.finance.senate.gov/hearings/hearing-to-consider-the-anticipated-nomination-of-scott-bessent-of-south-carolina-to-be-secretary-of-the-treasury">questions</a> from members of the Senate Finance Committee for confirmation to the Treasury Department.
&#8220;I see no reason for the U.S. to have a central bank digital currency,&#8221; Bessent said, in response to a question by Sen. Marsha Blackburn (R-TN). &#8220;In my mind, a central bank digital currency is for countries who have no other investment alternatives.&#8221;
The hedge fund veteran believed that the nations that have undertaken such initiatives were doing so &#8220;out of necessity&#8221; and that the U.S. does not have a similar need.
&#8220;If you hold U.S. dollars, you could hold a variety of very secure U.S. assets, &#8221; Bessent added.
See Also:<a href="https://www.benzinga.com/24/12/42735744/pharma-bro-martin-shkreli-predicts-doom-for-michael-saylors-microstrategy-as-stock-dips-below-300-in-after-hours-trading"> </a><a href="https://www.benzinga.com/government/regulations/25/01/42994641/italys-largest-bank-leaps-into-bitcoin-trading-with-1-million-test-investment-but-ceo-says-he-doesnt-invest-in-btc-personally">Italy&#8217;s Largest Bank Leaps Into Bitcoin Trading With $1 Million &#8216;Test&#8217; Investment But CEO Says He Doesn&#8217;t Invest In BTC Personally</a>
Why It Matters: CBDCs have been a subject of debate, with many in the cryptocurrency industry seeing it as a g<a href="https://www.benzinga.com/markets/cryptocurrency/24/01/36795173/vivek-ramaswamy-says-he-explained-harms-of-cbdc-to-donald-trump-i-give-him-a-lot-of-credit">overnment interference </a>in personal financial liberty.
As the name suggests, CBDC is a<a href="https://www.benzinga.com/money/what-is-a-central-bank-digital-currency-cbdc"> digital version of a country&#8217;s fiat currency</a>, controlled by the central bank, whose blockchain network can only be viewed and engaged with by a select group of financial institutions.
According to the <a href="https://cbdctracker.org/">CBDC Tracker</a>, well over 50 countries have been involved in research or conducting pilots to use CBDCs, including BRICS powers like Russia, China, and India.
The Federal Reserve has also been <a href="https://www.federalreserve.gov/central-bank-digital-currency.htm">exploring </a>the potential benefits and risks of such government-controlled currencies but has yet to come up with a concrete plan.
Interestingly, Bessent is known to be <a href="https://www.benzinga.com/markets/cryptocurrency/25/01/42936887/trumps-treasury-pick-scott-bessent-reveals-up-to-500000-bitcoin-stake-via-blackrocks-etf">personally invested</a> in Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>). He disclosed owning between $250,001 and $500,000 in the iShares Bitcoin Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBIT#NASDAQ">IBIT</a>).
Image via Wikimedia Commons
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Government

Regulations

IBIT

Trump's Treasury Nominee Scott Bessent Sees 'No Reason' For US Central Bank Digital Currency: It's For Countries With 'No Other Investment Alternatives'

NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) is facing renewed market scrutiny as Jim Cramer questioned the stock&#8217;s trading pattern on Thursday, amid growing concerns over China sanctions and positive earnings from key supplier Taiwan Semiconductor Manufacturing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>).
What Happened: &#8220;When will they let NVDA go higher?&#8221; CNBC&#8217;s Cramer posted on X, highlighting the stock&#8217;s recent pressure amid TSMC&#8217;s strong fourth-quarter performance. TSMC <a href="https://www.benzinga.com/25/01/43022899/jim-cramer-quips-about-joe-bidens-tsmc-chips-sanction-as-nvidia-supplier-beats-q4-estimates">reported earnings of $2.24 per share</a> on revenue of $26.88 billion, exceeding estimates by 3.70% and 1.91% respectively.
The commentary comes as Nvidia <a href="https://www.benzinga.com/news/global/25/01/43040533/nvidia-10-billion-setback-3-etfs-to-watch-sanctions">grapples with a $10 billion setback</a> after major tech customers, including Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), and Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), postponed orders for its Blackwell GB200 data center racks due to overheating issues.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">When will they let NVDA go higher???
&mdash; Jim Cramer (@jimcramer) <a href="https://twitter.com/jimcramer/status/1879933424146018518?ref_src=twsrc%5Etfw">January 16, 2025</a></blockquote>
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See Also: <a href="https://www.benzinga.com/general/space/25/01/43046128/cathie-wood-adds-new-space-stock-to-2-etfs">Cathie Wood Adds New Space Stock To 2 ETFs: Company Went To Moon, Will Investment Returns Follow?</a>
Why It Matters: Adding to the challenges, President Joe Biden&#8216;s administration has imposed new semiconductor export restrictions to China, potentially <a href="https://www.benzinga.com/news/global/25/01/43040533/nvidia-10-billion-setback-3-etfs-to-watch-sanctions">affecting up to 50% of Nvidia&#8217;s chip market</a>, according to D.A. Davidson analyst Gil Luria. This follows Wednesday&#8217;s action placing several Chinese entities on a <a href="https://www.benzinga.com/25/01/43022899/jim-cramer-quips-about-joe-bidens-tsmc-chips-sanction-as-nvidia-supplier-beats-q4-estimates">U.S. trade restriction list</a>, including AI developer Zhipu AI.
&#8220;Geopolitical tensions, particularly between the U.S. and China, have significantly impacted the semiconductor industry,&#8221; <a href="https://www.benzinga.com/news/global/25/01/43040533/nvidia-10-billion-setback-3-etfs-to-watch-sanctions">noted</a> Defiance ETFs CEO Sylvia Jablonski. &#8220;Each time we&#8217;ve heard a report about a potential U.S. ban on semiconductors from the White House, we&#8217;ve seen NVDA and all other semiconductor stocks fall.&#8221;
Despite these headwinds, the quantum computing <a href="https://www.benzinga.com/markets/equities/25/01/43023453/quantum-computing-stocks-continue-their-wild-surge-in-thursday-premarket-qubt-up-15-qbts-climbs-9-rgti-gains-over-3">sector shows promise</a>, with Microsoft calling for businesses to become &#8220;quantum-ready&#8221; by 2025. 
Nvidia plans to host a &#8220;Quantum Day&#8221; at its upcoming GTC conference in March, signaling a long-term commitment to the technology despite CEO Jensen Huang&#8216;s view that practical quantum computing remains decades away.
Price Action: Nvidia&#8217;s stock closed at $133.62 on Thursday, down 1.92% for the day. In after-hours trading, the stock rose slightly by 0.16%, according to <a href="https://pro.benzinga.com/dashboard">data from Benzinga Pro</a>.
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<thead>
<tr>
<th>Year</th>
<th class="has-text-align-center" data-align="center">Performance</th>
</tr>
</thead>
<tbody>
<tr>
<td>2024</td>
<td class="has-text-align-center" data-align="center">+170%</td>
</tr>
<tr>
<td>2023</td>
<td class="has-text-align-center" data-align="center">+239%</td>
</tr>
<tr>
<td>Year-to-date</td>
<td class="has-text-align-center" data-align="center">&#8211; 3.39%</td>
</tr>
</tbody>
</table>
</figure>
Nvidia has a <a href="https://www.benzinga.com/quote/NVDA/analyst-ratings">consensus price target</a> of $170.18, with a high of $220 and a low of $120. Recent ratings from HSBC, Rosenblatt, and Benchmark give an average target of $198.33, implying a 48.20% upside.
<figure class="wp-block-image aligncenter size-large is-resized"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/16220942/Screenshot-2025-01-17-at-8.37.59%E2%80%AFAM-1024x370.png" alt="" class="wp-image-738054" style="width:680px;height:auto" /></figure>
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Image Via Shutterstock 
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

AMZN

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Jim Cramer Questions Nvidia's Trading Pattern Amid Positive TSMC Earnings And Biden's China Export Regulations

On Thursday, Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) CFO Kevan Parekh refuted claims that the tech giant enjoys a 75% profit margin on its App Store.
What Happened: Parekh, <a href="https://www.benzinga.com/news/24/08/40563860/apple-announces-cfo-transition-iphone-16-debut-what-to-know">who succeeded</a> Luca Maestri as CFO, was the first high-ranking executive from a major tech company to testify in the U.K. class action antitrust trial.
Michael Armitage, the attorney for the claimants, referred to evidence from a separate U.S. litigation that suggested App Store operating margins of over 75%, <a href="https://www.ft.com/content/85c580f8-9663-4b76-b7f8-fd6820697726">reported</a> the Financial Times.
However, Parekh disputed these figures, stating, &#8220;I wouldn&#8217;t say they&#8217;re accurate.&#8221;
He further contended that it was not feasible to accurately calculate the standalone profitability of the App Store due to the inability to allocate all indirect costs to specific products or services.
He said that any attempt to do so would involve imprecise and subjective judgments.
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/01/43021026/apple-stock-has-moved-up-4-2-since-iphone-16-launched-analyst-says-it-has-another-8-upside-as-manufacturing-cost-decline-bolsters-cupertinos-margins">Apple Stock Has Moved Up 4.2% Since iPhone 16 Launched, Analyst Says It Has Another 8% Upside As Manufacturing Cost Decline Bolsters Cupertino&#8217;s Margins</a>
Why It Matters: The claimants, led by Rachael Kent, a lecturer at King&#8217;s College London, are seeking £1.5 billion (approximately $1.83 billion) from Apple.
They argue that the tech giant has created a monopoly by forcing developers to distribute their apps using the company&#8217;s own App Store, leading to excessive and unfair commissions passed on to consumers.
Apple&#8217;s lawyers responded that the claimants&#8217; case fails to consider the significant benefits conferred through Apple&#8217;s innovation by the iOS ecosystem as a whole.
Apple has been battling with <a href="https://www.benzinga.com/tech/24/11/42086154/apple-to-argue-for-dismissal-of-doj-antitrust-case-over-alleged-us-smartphone-market-domination">multiple legal challenges</a> currently. Last year, Apple faced a lawsuit over <a href="https://www.benzinga.com/news/legal/24/12/42283614/apple-faces-lawsuit-over-alleged-snooping-on-employees-iphones-and-other-devices">alleged snooping on employees&#8217;</a> iPhones and other devices, and a <a href="https://www.benzinga.com/24/12/42381987/apple-faces-12b-lawsuit-for-dropping-csam-detection-while-google-and-meta-set-higher-standards-for-child-safety">$1.2 billion lawsuit</a> over discontinuing its child sexual abuse material detection feature.
Earlier this month, Apple also agreed to pay $95 million to <a href="https://www.benzinga.com/news/global/25/01/42780075/apple-settles-95-million-lawsuit-over-siri-privacy-violations-affected-users-to-receive-up-to-20-per-device">settle a lawsuit alleging</a> its Siri voice assistant recorded users' private conversations without consent.
Cupertino will report its first-quarter earnings for 2025 on Jan. 30. In October 2024, the company reported a fiscal <a href="https://www.benzinga.com/news/earnings/24/10/41666494/apple-q4-earnings-revenue-beat-eps-beat-installed-base-hits-new-highs-iphone-sales-rise-as-apple-in">fourth-quarter revenue</a> of $94.9 billion, exceeding analysts&#8217; forecast of $94.56 billion.
Price Action: Apple&#8217;s stock dropped 4.04% on Thursday, ending the day at $228.26. However, in after-hours trading, the shares rose by 0.061%, reaching $228.40, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.
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<li><a href="https://www.benzinga.com/25/01/43018848/those-are-air-bubbles-the-time-steve-jobs-rejected-the-first-ipod-prototype-and-pushed-apple-engineers-to-think-smaller">Steve Jobs Dropped The First iPod Prototype In A Fish Tank And It Wasn&#8217;t To Test If It Was Waterproof</a></li>
</ul>
Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.

Legal

Apple CFO Denies Claims Of 75% Profit Margins On App Store: 'I Wouldn't Say They're Accurate'

Leading coins remained steady on Thursday amid reports that President-elect Donald Trump may announce several pro-cryptocurrency measures after being sworn in.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 8:30 p.m. ET)</td>
</tr>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>+0.31%</td>
<td>$100,211.61</td>
</tr>
<tr>
<td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>-1.77%</td>
<td>$3,340.29</td>
</tr>
<tr>
<td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>+0.54%</td>
<td>$0.3789</td>
</tr>
</tbody>
</table>
</figure>
What Happened: Bitcoin wiggled in the $100,000 region, a day after reclaiming the psychologically important level on softer inflation data.&nbsp;
Ethereum also chopped in the $3,300-$3,900 zone as holders waited for the second-largest cryptocurrency to recapture the $4,000 milestone it reached last month.
The cryptocurrency market was brimming with optimism ahead of Trump's inauguration on Jan. 20. The president-elect was reportedly planning to designate cryptocurrency policy <a href="https://www.benzinga.com/25/01/43047039/trump-planning-to-declare-cryptocurrency-as-national-priority-increase-engagement-with-industry-report">as a national priority</a>.
Over $332 million was liquidated from the cryptocurrency market in the last 24 hours, with long liquidations accounting for $188 million.
About $960 million in upside bets could be liquidated if Bitcoin falls back to $95,000.
Bitcoin's Open Interest rose 2.21% in the last 24 hours. A sideways price movement, coupled with a rising Open Interest, typically precedes upside breakouts.
That said, more than half of derivatives traders on Binance placed short bets on Bitcoin, expecting a correction.
Top Gainers (24-Hours)
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 8:30 p.m. ET)</td>
</tr>
<tr>
<td>Hedera (HBAR)</td>
<td>+23.49%</td>
<td>$0.387</td>
</tr>
<tr>
<td>Algorand (ALGO)</td>
<td>+12.24%</td>
<td>$0.4854</td>
</tr>
<tr>
<td>EOS (EOS)</td>
<td>+10.61%</td>
<td>$0.9507</td>
</tr>
</tbody>
</table>
</figure>
The global cryptocurrency market capitalization stood at $3.52 trillion, increasing marginally by 0.04% in the last 24 hours.
Stocks reversed course on Thursday, erasing gains from the rally a day before. The Dow Jones Industrial Average fell 68.42 points, or 0.16%, to 43,153.13 The S&amp;P 500 ended a 3-day winning streak, closing 0.21% lower at 5,937.34. The tech-focused Nasdaq Composite lost 0.89% to end at 19,338.29.
Mega tech stocks such as Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) and Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) slipped 3.44% and 1.96%, respectively, likely contributing to the sell-offs.
See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>
Analyst Notes: Popular on-chain analyst Ali Martinez highlighted Bitcoin&#8217;s Long Term Holder Net Unrealized Profit/Loss indicator, which revealed a market sentiment ranging from "Euphoria" to "Greed" for long-term investors.
Net Unrealized Profit/Loss is derived from market value and realized value to track investor sentiment over time for a cryptocurrency.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Long-term holders are starting to feel greedy again as <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> reclaims $100,000! <a href="https://t.co/RcOo9g5Ohg">pic.twitter.com/RcOo9g5Ohg</a>
&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1880048640984481985?ref_src=twsrc%5Etfw">January 17, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Crypto Candy, a widely followed X handle dedicated to cryptocurrency analysis and trading ideas, noted that Bitcoin was encountering a strong resistance zone at $101,000-$103,000, breaking which could propel the apex digital asset to all-time highs.
"Otherwise, if it is rejected once more, we might see it fall back to the $93,000-$91,000 level, although this is considered less likely," Crypto Candy gave the bearish thesis.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> • As anticipated, BTC experienced a price decrease in the lower time frame upon encountering a strong resistance zone, and is now attempting to reclaim that resistance. Repeated tests of this zone appear to be weakening it. • If it successfully breaks through the… <a href="https://t.co/EhOYqdGWGv">pic.twitter.com/EhOYqdGWGv</a>
&mdash; Crypto Candy&#x1f525;&#x1f48e; (@cryptocandy24x) <a href="https://twitter.com/cryptocandy24x/status/1880072388551012445?ref_src=twsrc%5Etfw">January 17, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Photo by Avi Rozen on Shutterstock
Read Next:    
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/01/43035888/donald-trump-reportedly-open-to-us-crypto-reserve-as-bitcoin-reserve-chatter-gathers-steam">Donald Trump Reportedly Open To US Crypto Reserve As Bitcoin Reserve Chatter Gathers Steam</a></li>
</ul>

$ETH

TSLA

Bitcoin, Ethereum, Dogecoin Steady As Market Expects Trump's Pro-Crypto Bonanza: Analyst Says BTC Could Hit All-Time High If It Breaks This Resistance

TikTok CEO Shou Chew is reportedly set to attend President-elect Donald Trump&#8217;s <a href="https://www.benzinga.com/news/25/01/42995328/trump-inauguration-from-elon-musk-jeff-bezos-to-barack-obama-george-bush-and-bill-clinton-who-all-will-attend">inauguration, joining other</a> tech leaders like Elon Musk, Mark Zuckerberg, and Jeff Bezos.
What Happened: The Trump Vance Inaugural Committee extended an invitation to TikTok&#8217;s CEO, <a href="https://www.nytimes.com/2025/01/15/us/politics/tiktok-ceo-trump-inauguration.html">reported</a> the New York Times, citing two people familiar with the plans on Wednesday.
Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) CEO Sundar Pichai is also expected to attend the event, <a href="https://www.cnbc.com/2025/01/16/tiktok-ceo-expected-to-attend-trumps-inauguration-nbc-reports.html?__source=twitter%7Ctech&amp;taid=678928f67adf43000148d6cc&amp;utm_campaign=trueanthem&amp;utm_medium=social&amp;utm_source=twitter">reported</a> NBC News, citing a Trump transition official.
TikTok and Alphabet did not immediately respond to <a href="https://pro.benzinga.com/dashboard">Benzinga's</a> request for comments.
See Also: <a href="https://www.benzinga.com/25/01/42961753/analyst-sees-broadening-rally-in-semis-coming-in-2025-2-top-stock-picks-and-2-to-avoid">Analyst Sees ‘Broadening Rally' In Semiconductors In 2025: 2 Top Stock Picks, 2 To Avoid</a>
The inauguration ceremony for Trump and Vice President-elect JD Vance is scheduled for Monday, with festivities beginning on Saturday at Trump&#8217;s Virginia golf club.
Why It Matters: TikTok CEO&#8217;s invitation to the Trump inauguration comes just days before a potential U.S. ban on the app.
The ban could lead to its removal from platforms like Google Play and the Apple App Store unless its parent company, ByteDance, divests its U.S. operations.
Subscribe to the <a href="https://bztechtrends.beehiiv.com/subscribe">Benzinga Tech Trends newsletter</a> to get all the latest tech developments delivered to your inbox.
Already reports of Tesla CEO Musk and other potential buyers <a href="https://www.benzinga.com/general/social-media/25/01/42965533/elon-musk-emerges-as-potential-tiktok-us-buyer-as-ban-deadline-looms-company-terms-it-pure-fiction">making a bid are making</a> rounds.&nbsp;
ByteDance has so far resisted selling, and the Supreme Court has yet to make a definitive ruling after hearing arguments last Friday. Trump has filed an amicus brief urging the court to block the ban, seeking a political resolution instead.
On Thursday, TikTok&#8217;s prospects improved as an increasing number of U.S. officials advocated for giving ByteDance additional time to sell the app, reported Reuters.
Photo Courtesy: Shutterstock.com
Check out more of Benzinga's Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech">following this link</a>.
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Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.

TikTok CEO Shou Chew To Join Trump's Inauguration Alongside Musk, Bezos And Zuckerberg Amid Looming US Ban: Report

Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) shares dropped 3.6% on Thursday, underperforming the Nasdaq&#8217;s 0.9% decline, as investors weighed speculation regarding CEO Elon Musk&#8216;s potential acquisition of TikTok&#8216;s U.S. operations ahead of the platform&#8217;s <a href="https://www.benzinga.com/general/social-media/25/01/42997566/tiktok-is-set-to-be-banned-in-the-us-this-sunday-unless-the-supreme-court-steps-in-heres-what-happens-to-its-nearly-17000-american-workforce">upcoming ban deadline this Sunday</a>.
What Happened: Gary Black, managing partner of The Future Fund LLC, expressed concern on X that Musk might need to sell billions in Tesla shares to fund a possible $40-50 billion TikTok acquisition.
&#8220;Frankly I can&#8217;t see Elon Musk swapping TSLA shares for TikTok&#8217;s US business given that TSLA is on the verge of achieving generalized unsupervised autonomy but one never knows,&#8221; Black wrote. 
Tesla&#8217;s stock previously experienced a 70% drawdown between April 2022 and January 2023, which Black attributed partially to Musk&#8217;s Twitter acquisition and Tesla&#8217;s subsequent EV price cuts.
&#8220;We certainly see the business logic for X, but don&#8217;t like the overhang it would create on TSLA shares,&#8221; Black wrote, drawing parallels to Tesla&#8217;s stock pressure following Musk&#8217;s Twitter purchase.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">In an otherwise modestly lower market (NDX -0.3%), <a href="https://twitter.com/search?q=%24TSLA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TSLA</a> -3.6% today on continuing speculation that Trump wil help negotiate a sale of TikTok's US operations to X, which could cost $40B-$50B. We certainly see the business logic for X, but don't like the overhang it would create… <a href="https://t.co/GbURfJ4dBy">pic.twitter.com/GbURfJ4dBy</a>
&mdash; Gary Black (@garyblack00) <a href="https://twitter.com/garyblack00/status/1879980308327460911?ref_src=twsrc%5Etfw">January 16, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
See Also: <a href="https://www.benzinga.com/news/25/01/42976301/charlie-munger-said-his-family-only-owns-3-stocks-damn-right-theyre-rich-because-diversification-is-for-know-nothing-investors">Charlie Munger Said His Family Only Owns 3 Stocks – &#8216;Damn Right&#8217; They&#8217;re Rich Because Diversification Is For &#8216;Know-Nothing Investors&#8217;</a>
Why It Matters: The speculation comes as TikTok approaches a critical Jan. 19 deadline when it faces removal from U.S. app stores. While President-elect Donald Trump is reportedly considering an <a href="https://www.benzinga.com/general/social-media/25/01/43018125/trump-considers-executive-order-to-save-tiktok-from-being-banned-in-4-days">executive order to temporarily suspend the ban</a>, potential buyers are emerging.
Wedbush Securities analyst Dan Ives noted that Musk&#8217;s relationships with both Trump and <a href="https://www.benzinga.com/25/01/43019833/elon-musk-buying-tiktok-could-hurt-tesla-warns-gary-black-but-dan-ives-thinks-it-makes-sense">Beijing could facilitate a deal</a>.
TikTok, which employs nearly 17,000 people in the U.S., has dismissed <a href="https://www.benzinga.com/25/01/43019833/elon-musk-buying-tiktok-could-hurt-tesla-warns-gary-black-but-dan-ives-thinks-it-makes-sense">the acquisition rumors</a> as &#8220;pure fiction.&#8221; Other potential buyers include Microsoft Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NYSE">MSFT</a>), Oracle Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NYSE">ORCL</a>), and a consortium led by investor Kevin O&#8217;Leary.
The social media platform has seen a 38% increase in employee departures in late 2024 compared to the previous year, though it maintains over 2,000 job openings across U.S. locations.
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Image Via Tesla 
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Tesla's Drop Against Modestly Lower Nasdaq Comes As Investors Weigh Elon Musk's $40-50 Billion TikTok Deal, Gary Black Says TSLA Share Swap Unlikely Due To This Upcoming Milestone

Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) will reportedly not apply its new &#8220;<a href="https://www.benzinga.com/25/01/42851889/meta-ditches-fact-checking-for-community-notes-zuckerberg-says-opportunity-to-restore-free-expression">Community Notes</a>&#8221; feature to paid advertisements.
What Happened: Earlier this month, Meta CEO Mark Zuckerberg said the company would replace its fact-checking system with Community Notes.
Unlike the system on Elon Musk's X, which applies to both paid and unpaid posts, Meta&#8217;s version will focus solely on organic content.
Meta&#8217;s Community Notes will allow users to crowdsource annotations on posts they believe are misleading or lack context.
However, these notes will only apply to organic content, not paid ads, when the feature launches later this year, <a href="https://www.wsj.com/articles/metas-community-notes-wont-apply-to-paid-ads-marketers-still-have-questions-9a2af62c">reported</a> the Wall Street Journal, citing people with direct knowledge of the matter.
Subscribe to the <a href="https://bztechtrends.beehiiv.com/subscribe">Benzinga Tech Trends newsletter</a> to get all the latest tech developments delivered to your inbox.
Marketers are left in a state of confusion, trying to understand the impact on their strategies, said Darren D'Altorio of Wpromote.
The uncertainty has sparked discussions about the future of organic sponsored content on Meta&#8217;s platforms, the report noted.
A Meta spokesperson told the publication that the company will continue to evaluate and improve the Community Notes feature as it rolls out in the U.S. over the coming months.
Meta did not&nbsp;immediately respond to <a href="https://pro.benzinga.com/dashboard">Benzinga's</a> request for comments.
Why It Matters: Meta is set to announce its <a href="https://www.benzinga.com/general/social-media/25/01/42991174/meta-platforms-analyst-expects-strong-momentum-in-q4-to-continue-in-2025">fourth-quarter earnings</a> on Jan. 29. Last year in October, the company reported its <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 analysts&#8217; expectations of $40.29 billion. Advertising accounted for 96% of this total revenue.
Price Action: Meta&#8217;s stock declined 0.94% on Thursday and dipped further by 0.016% in after-hours trading, settling at $611.20, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.
Image via Shutterstock
Check out more of Benzinga's Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech">following this link</a>.
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Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.

Meta's 'Community Notes' To Exempt Paid Ads, Marketers Left Puzzled About Organic Content Risks: Report

U.S. stock markets experienced a downturn on Thursday, with the Nasdaq Composite shedding over 170 points and ending the day at 19,338.29. The Dow decreased by almost 0.2% to 43,153.13, while the S&amp;P 500 fell 0.2% to 5,937.34.
These are the top stocks that gained the attention of retail traders and investors throughout the day:
Apple Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>)
Apple&#8217;s shares fell 4.04%, closing at $228.26, with an intraday high of $238.01 and a low of $228.03. The stock is trading between its 52-week high of $260.09 and low of $164.08. The decline follows a report indicating a <a href="https://www.benzinga.com/trading-ideas/movers/25/01/43042851/apple-shares-dip-as-iphone-sales-in-china-decline-sharply-in-2024-whats-going-on">significant drop</a> in iPhone sales in China, with Canalys data showing a 17% annual decrease in shipments, marking Apple&#8217;s largest sales drop in the region.
Rivian Automotive Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>)
Rivian&#8217;s stock rose 3.59% to close at $14.44, reaching an intraday high of $14.66 and a low of $13.95. The stock&#8217;s 52-week range is $18.86 to $8.26. The increase came after Rivian finalized a&nbsp;<a href="https://www.benzinga.com/analyst-ratings/price-target/25/01/43045600/rivian-stock-is-racing-higher-after-hours">loan agreement</a>&nbsp;with the U.S. Department of Energy for up to $6.6 billion, aimed at supporting the construction of a new manufacturing facility in Georgia.
UnitedHealth Group, Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNH#NYSE">UNH</a>)
UnitedHealth shares dropped 6.04%, closing at $510.59, with a high of $539.84 and a low of $510. The stock&#8217;s 52-week high is $630.73, and the low is $436.38. The decline follows mixed financial results, with&nbsp;<a href="https://www.benzinga.com/general/health-care/25/01/43041254/unitedhealth-ceo-highlights-hospitals-doctors-pharmas-role-in-soaring-health-care-costs">earnings exceeding estimates</a>&nbsp;but revenue falling short by nearly $1 billion, amid challenges like Medicare funding reductions.
Biomerica, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BMRA#NASDAQ">BMRA</a>)
Biomerica&#8217;s stock surged 101.71% to $0.71, with an intraday high of $1.27 and a low of $0.56. The stock&#8217;s 52-week range is $1.35 to $0.24. The dramatic rise follows the approval of its&nbsp;<a href="https://www.benzinga.com/general/health-care/25/01/43033027/biomerica-stock-trades-200-higher-after-prostate-screening-test-receives-approval">Fortel Prostate Specific Antigen Screening Test</a>&nbsp;by the United Arab Emirates Ministry of Health and Prevention.
Tesla Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)
Tesla&#8217;s shares decreased by 3.36%, closing at $413.82, with a high of $424 and a low of $409.13. The stock trades between a 52-week high of $488.54 and a low of $138.8. The decline comes as an analyst from <a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/01/43036902/tesla-stock-valuation-analyst-flags-long-term-growth-opportunities-robotaxis-fsd">Goldman Sachs</a> highlighted Tesla&#8217;s <a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/01/43036902/tesla-stock-valuation-analyst-flags-long-term-growth-opportunities-robotaxis-fsd">monetization opportunities</a> with robotaxis and full self-driving technology, maintaining a Neutral rating.
Prepare for the day&#8217;s trading&nbsp;<a href="https://editorial.benzinga.com/wp-admin/Premarket%20Movers%20&amp;%20News">with top premarket movers and news</a>&nbsp;by Benzinga.

BMRA

RIVN

Apple, Rivian, Unitedhealth, Biomerica, Tesla: Why These 5 Stocks Are On Investors' Radars Today

President-elect Donald Trump is set to issue an executive order to declare cryptocurrency as a national priority and incorporate industry experts into his administration, according to a Thursday report.
What happened: The strategic language was used to encourage government agencies to engage with the expanding industry, whose most valuable asset, Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), surpassed a $2 trillion valuation in recent days, Bloomberg <a href="https://www.bloomberg.com/news/articles/2025-01-16/trump-plans-to-designate-cryptocurrency-as-a-national-priority">reported</a>, citing people familiar with the plans.
Among the proposals being considered for inclusion in the executive order is a directive to all federal agencies to reassess their policies regarding digital assets and potentially halt any ongoing litigation related to cryptocurrency.
Another idea under consideration is the establishment of a national Bitcoin reserve that would include the government&#8217;s current Bitcoin holdings. This was one of <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40179714/trumps-bitcoin-stockpile-plan-would-have-positive-impact-on-crypto-prices-but-would-leave-">Trump's biggest election promises</a> to gain support from cryptocurrency enthusiasts.
However, the executive order was not final and could undergo further changes before it's made public, Bloomberg said.
A Trump spokesperson didn't immediately return Benzinga's request for comment.
See Also:<a href="https://www.benzinga.com/24/12/42735744/pharma-bro-martin-shkreli-predicts-doom-for-michael-saylors-microstrategy-as-stock-dips-below-300-in-after-hours-trading"> </a><a href="https://www.benzinga.com/government/regulations/25/01/42994641/italys-largest-bank-leaps-into-bitcoin-trading-with-1-million-test-investment-but-ceo-says-he-doesnt-invest-in-btc-personally">Italy&#8217;s Largest Bank Leaps Into Bitcoin Trading With $1 Million &#8216;Test&#8217; Investment But CEO Says He Doesn&#8217;t Invest In BTC Personally</a>
Why It Matters: As Trump&#8217;s inauguration day approaches, speculation regarding his cryptocurrency pronouncements has grown.
Recent reports have suggested a pro-cryptocurrency policy shift from the new administration. David Sacks, Trump&#8217;s AI and crypto czar, <a href="https://www.benzinga.com/markets/cryptocurrency/25/01/42962279/trump-could-sign-crypto-related-executive-orders-on-day-1-report">reportedly collaborated</a> with industry leaders to develop a legislative agenda.
Additionally, Trump <a href="https://www.benzinga.com/markets/cryptocurrency/25/01/43035888/donald-trump-reportedly-open-to-us-crypto-reserve-as-bitcoin-reserve-chatter-gathers-steam">was expected to address controversial laws like SAB 121</a>, which limits banks' ability to offer custody services for digital assets.
Price Action: At the time of writing, Bitcoin was exchanging hands at&nbsp;100,088.53, up 7.94 % in the last week and more than 45% since Trump&#8217;s election win in November, 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/25/01/42993521/michael-saylors-microstrategy-not-alone-in-bitcoin-acquisition-says-bitwise-chief-investment-officer-its-a-bona-fide-megatrend">Michael Saylor&#8217;s MicroStrategy Not Alone In Bitcoin Acquisition, Says Bitwise Chief Investment Officer: &#8216;It&#8217;s A Bona Fide Megatrend&#8217;</a></li>
</ul>

Trump Reportedly Planning To Declare Crypto As National Priority Through Executive Order

SpaceX CEO Elon Musk shared a video of rocket parts raining down from the sky on Thursday after the company lost the Starship&#8217;s new-generation upper stage spacecraft during the seventh test flight of its Super Heavy-Starship mega rocket. 
What Happened: Musk said on X, &#8220;Success is uncertain, but entertainment is guaranteed!&#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">Success is uncertain, but entertainment is guaranteed! &#x2728; <a href="https://t.co/nn3PiP8XwG">pic.twitter.com/nn3PiP8XwG</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1880040599761596689?ref_src=twsrc%5Etfw">January 16, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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The first stage booster was successfully recaptured, but the Starship&#8217;s telemetry froze eight minutes and 27 seconds post-launch due to unexpected engine shutdowns or failures, <a href="https://www.cbsnews.com/news/spacex-starship-spacecraft-destroyed-super-heavy-mega-rocket-launch/">reported</a> CBS News.
The Super Heavy-Starship mega rocket was launched from SpaceX&#8217;s Boca Chica, Texas, manufacturing and flight test facility at 5:37 p.m. Eastern Time on Thursday. The rocket, powered by 33 methane-burning Raptor engines, generated up to 16 million pounds of thrust. 
Two minutes and 40 seconds after liftoff, the Super Heavy detached, allowing Starship to ascend toward space powered by its six Raptor engines. However, the loss of telemetry left flight controllers in the dark about the final stages of the ascent. 
SpaceX later confirmed the ship&#8217;s destruction on X, stating, &#8220;Starship experienced a rapid unscheduled disassembly during its ascent burn.&#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">Starship experienced a rapid unscheduled disassembly during its ascent burn. Teams will continue to review data from today&#39;s flight test to better understand root cause. With a test like this, success comes from what we learn, and today's flight will help us improve Starship's…
&mdash; SpaceX (@SpaceX) <a href="https://twitter.com/SpaceX/status/1880033318936199643?ref_src=twsrc%5Etfw">January 16, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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See Also: <a href="https://www.benzinga.com/general/space/25/01/43023657/jeff-bezos-blue-origins-new-glenn-reaches-orbit-on-first-try-spacex-ceo-elon-musk-applauds-rivals-achievement">Jeff Bezos&#8217; Blue Origin&#8217;s New Glenn Reaches Orbit On First Try: SpaceX CEO Elon Musk Applauds Rival&#8217;s Achievement</a>
Why It Matters: The <a href="https://www.benzinga.com/25/01/43020027/starships-7th-test-flight-postponed-to-thursday-owing-to-unfavorable-weather-says-spacex">seventh test flight</a> of the Starship had been postponed to Thursday due to unfavorable weather conditions. The test flight featured multiple experiments to test a variety of heat shield improvements, including metallic tiles and one with active cooling. 
Earlier in December, Musk <a href="https://www.benzinga.com/24/12/42718758/elon-musk-says-starship-will-get-fully-reusable-heat-shield-in-2025-i-am-confident">shared his vision</a> of developing a fully reusable heat shield by 2025. The entrepreneur had also <a href="https://www.benzinga.com/government/24/10/41621276/elon-musk-predicts-sending-starship-to-mars-in-2-years-but-warns-regulatory-hurdles-could-delay-lift">outlined a bold timeline</a> for sending SpaceX&#8217;s Starship to Mars within two years, but he warned that regulatory challenges could delay these plans. T
The ongoing test program will determine when SpaceX&#8217;s ambitious missions of sending humans and cargo to Earth orbit, the moon, and Mars might be possible.
Check out more of Benzinga's Future Of Mobility coverage by <a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>
Read Next: 
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<li><a href="https://www.benzinga.com/general/space/25/01/42892886/spacex-ceo-elon-musk-offers-free-starlink-terminals-to-los-angeles-areas-affected-by-wildfires">SpaceX CEO Elon Musk Offers Free Starlink Terminals To Los Angeles Areas Affected By Wildfires</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>

Starship Explodes During Flight Test, Elon Musk Says: 'Success Is Uncertain, But Entertainment Is Guaranteed!'

President Joe Biden warned of an oligarchy that has wide influence over the country as part of his farewell speech Wednesday night. Bernie Sanders and Kevin O'Leary have very different opinions in whether <a href="https://www.benzinga.com/news/management/25/01/42771258/worlds-top-10-richest-people-gained-more-wealth-in-2024-than-costco-and-nikes-combined-valuation-how-elon-musk-warren-buffett-and-others-fared">the wealthiest people</a> in America should be celebrated.
What Happened: In his presidential farewell, Biden expressed concerns that an <a href="https://www.benzinga.com/news/25/01/43019094/bidens-farewell-address-targets-tech-oligarchy-in-trump-2-0-era-president-says-americans-face-avalanche-of-misinformation">emerging tech oligarchy</a> is forming and will have a wide influence on the future of the country.
"I'm equally concerned about the potential rise of a tech industrial complex that could pose real dangers for our country," Biden said.
Biden also said there is a "dangerous concentration of power in the hands of a very few ultra-wealthy people" during his speech.
"Today, an oligarchy is taking shape in America of extreme wealth, power and influence that literally threatens our entire democracy, our basic rights and freedoms and a fair shot for everyone to get ahead."
The oligarchy comments became a focal point of Sen. Bernie Sanders (I-Vt.) questioning for Treasury Secretary nominee Scott Bessent during his confirmation hearing.
Sanders <a href="https://x.com/QuiverQuant/status/1879947294470275213">said </a>Elon Musk, Jeff Bezos and Mark Zuckerberg, who are believed to be who Biden was referring to, are worth $1 trillion combined, which is more than 170 million people in America. The senator said there is also more concentration of wealth in the media in recent years with billionaires owning media and the information that American people receive. &nbsp;
"When you have a small number of multi-billionaires who have enormous economic, media and political power, would you agree with President Biden?" Sanders asked Bessent while adding the oligarchy quote.
Sanders said he agreed with the statement before Bessent answered.
Bessent replied that all three billionaires named made their money themselves, including Musk who came to the country as an immigrant.
Sanders pushed back saying that Musk will soon be part of the Trump administration and the billionaires are spending large amounts of money to get candidates elected. Sanders asked Bessent again if there was an oligarchy.
Bessent said Biden recently gave the Presidential Medal of Freedom to people who would qualify as oligarchs, a reference to George Soros.
Musk later <a href="https://x.com/elonmusk/status/1879958967956484212">shared </a>a clip of the exchange between Sanders and Bessent and said it was a "sick burn by Bessent" in reference to his comment about Biden giving out medals.
Investor Kevin O'Leary, known for his role on "Shark Tank," had a differing opinion during a discussion on the oligarchy topic on <a href="https://x.com/kevinolearytv/status/1879992496219881977">CNN</a>.
"We celebrate the American dream in this country. It's our number one export. Zuck was a college student once. Look what he's created. Elon Musk may be the most successful entrepreneur in history," O'Leary said.
O'Leary said Americans appreciate the ability to pursue the American dream of becoming wealthy.
"We should be celebrating this. Yes, Musk is rich, so what."
You may not be a billionaire like Mark Cuban, but you can uncover hidden gems in the stock market using our proprietary data and pattern recognition — <a href="https://www.benzinga.com/25/01/42927075/benzingas-stock-whisper-index-5-stocks-investors-secretly-monitor-but-dont-talk-about-yet">check out five stocks flying under the radar that deserve your attention.</a>
Why It's Important: Musk, Bezos and Zuckerberg are all expected to be present at Trump's inauguration on Monday. All three have <a href="https://www.benzinga.com/news/management/24/12/42485193/sam-altman-to-donate-1m-to-trumps-inauguration-fund-following-zuckerberg-bezos-eager-to-support">donated to Trump</a> via his election campaign or inauguration fund by themselves or through the companies they founded.
Some of the billionaires now supporting Trump, have reversed course. Zuckerberg previously banned Trump from Facebook and Instagram, which are owned by Meta Platforms Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>).
Meta recently announced changes to its content moderation policies, which come as Zuckerberg met with Trump at Mar-a-Lago and has shown more support for the incoming president. This comes after Trump once threatened to put Zuckerberg in jail if he was elected president.
Tech billionaires could be showing loyalty to Trump to push the sector forward, Deepwater Asset Management managing partner Gene Munster <a href="https://finance.yahoo.com/news/why-the-tech-industry-is-cozying-up-to-trump-the-second-time-around-164659989.html?src=rss&amp;ncid=twitter_yfsocialtw_l1gbd0noiom">told </a>Yahoo Finance.
"No. 1 is that tech companies have understood over the past five years that Washington is a bigger X factor in their future, and so there's just a natural willingness to work more closely with the administration," Munster said. "The second is Trump values loyalty, and one way that people kind of express loyalty to him is to give money."
Munster said to be taken serious by Trump, it might be similar to "pay to play."
Billionaire Mark Cuban <a href="https://bsky.app/profile/did:plc:y5xyloyy7s4a2bwfeimj7r3b/post/3lewlfnga5c2n">shared </a>a similar thought earlier this month in a post on BlueSky.
"Why are Bezos, Zuckerberg, Musk, Pichai and Tim Cook visiting and giving money to Trump? Because they are in ‘The Race' to become the dominant platform in the world," Cuban wrote.
Cuban said the billionaires "don't care about Trump,&#8221; but can't afford to be pushed back.
"Giving millions and kissing a ring when trillions are at stake, is nothing. The Ring Kissers truly don't know where AI will take their businesses or the world."
Cuban, who supported Vice President Kamala Harris in the 2024 election, placed some of the blame on President Biden in his post.
"He refused to engage with the biggest tech players. He ignored them. With so much at stake, that was one of the all-time blunders. It pushed them all into the arms of Trump."
A Bloomberg <a href="https://www.bloomberg.com/news/articles/2025-01-16/american-oligarchy-decried-by-biden-gained-1-5-trillion-during-his-presidency?srnd=homepage-americas&amp;sref=TBDibEcD">report </a>also showed the richest people in the world gained huge amounts of wealth during Biden's time in the White House, stating that the top 0.1% gained $6 trillion in wealth.
The report highlighted that Musk was worth around $100 billion on Election Day 2020, which Biden won. Today, Musk is worth $450 billion. While the billionaire hit $400 billion for the first time after Trump won the 2024 election, the majority of his wealth gains came before Trump won.
Read Next: 
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<li><a href="https://www.benzinga.com/general/politics/24/10/41531564/bill-gates-net-worth-billionaires-50-million-donation-to-kamala-harris-is-like-an-average-family">Bill Gates Net Worth: Billionaire&#8217;s $50 Million Donation To Kamala Harris Is Like An Average Family Giving $318.90</a></li>
</ul>
Photos: Musk, Zuckerberg via Shutterstock; Bezos courtesy Amazon

Politics

Biden Warns Of Musk, Bezos, Zuckerberg Oligarchy, But Is He To Blame? Mark Cuban Says President 'Pushed Them All Into The Arms Of Trump'

The CDC issued a health advisory Thursday recommending that hospitalized patients who have tested positive for influenza be tested for the bird flu <a href="https://www.benzinga.com/general/biotech/25/01/42854890/us-records-first-human-bird-flu-death-high-levels-of-respiratory-illnesses-vaccine-stocks-rally">virus within 24 hours.&nbsp;</a>
What To Know: There have been 67 confirmed human cases of bird flu in the U.S. since 2024 and the CDC<a href="https://www.cdc.gov/bird-flu/situation-summary/index.html"> says it is</a> "watching the situation carefully and working with states to monitor people with animal exposures."
The CDC's latest H5N1<a href="https://www.cdc.gov/han/2025/han00520.html"> bird flu advisory</a> comes as new cases continue to be revealed. On Wednesday, the CDC confirmed a bird flu infection in a child in the San Francisco area who was not hospitalized and has since recovered. The CDC said it is still investigating how the child was exposed to the virus. 
Read Next: <a href="https://www.benzinga.com/general/health-care/25/01/43041254/unitedhealth-ceo-highlights-hospitals-doctors-pharmas-role-in-soaring-health-care-costs">UnitedHealth CEO Highlights Hospitals, Doctors, Pharma&#8217;s Role In Soaring Health Care Costs</a>&nbsp;
According to a Washington Post<a href="https://www.washingtonpost.com/health/2025/01/16/bird-flu-testing-patients-in-hospital/"> report</a>, Nirav Shah, CDC's principal deputy director, said the latest recommendation is meant to accelerate testing rather than increase the number of tests being performed.&nbsp;
Shah said it was prompted by cases in which infected patients were later confirmed to have bird flu, including after being discharged.
Earlier this month, the Louisiana Department of Health reported the first human death in the U.S. related to the H5N1 bird flu virus.
Vaccine Makers: Shares of vaccine-related stocks are on watch as previous bird flu developments have caused shares to spike.&nbsp;
Moderna, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRNA#NASDAQ">MRNA</a>) received a $176 million government contract in July to advance development of its bird flu vaccine, leveraging the same mRNA technology used in the company's COVID-19 vaccine.  
Novavax, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVAX#NASDAQ">NVAX</a>) has a bird flu vaccine in clinical trials<a href="https://www.benzinga.com/general/biotech/24/11/41878334/fda-gives-green-signal-to-novavaxs-covid-19-influenza-combo-vaccine-late-stage-trial"> in addition</a> to a COVID-19-influenza combination vaccine in late-stage clinical trials. 
CureVac N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CVAC#NASDAQ">CVAC</a>) stock is also on watch as the company has started a phase I/II study on its bird flu vaccine developed in collaboration with GSK plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GSK#NYSE">GSK</a>).  
Read Next:&nbsp;
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<li><a href="https://www.benzinga.com/25/01/43007213/experts-see-the-fed-on-hold-for-now-if-there-are-any-cuts-at-all-in-2025-after-decembers-sticky-consumer-inflation-report">Interest Rate Cuts &#8216;On Hold&#8230; If There Are Any At All In 2025&#8217; After December&#8217;s Sticky Consumer Inflation Report: Economists&nbsp;</a></li>
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Photo: Shutterstock

Biotech

Health Care

General

CVAC

MRNA

NVAX

Bird Flu Raising Red Flags Among Health Officials, CDC Urges Faster Testing

Lululemon Athletica (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LULU#NASDAQ">LULU</a>) has outperformed the market over the past 10 years by 8.14% on an annualized basis producing an average annual return of 19.43%. Currently, Lululemon Athletica has a market capitalization of $45.50 billion. 
Buying $1000 In LULU: If an investor had bought $1000 of LULU stock 10 years ago, it would be worth $5,888.73 today based on a price of $370.59 for LULU at the time of writing.
<h3>Lululemon Athletica's Performance Over Last 10 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1737071109_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

LULU

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

Ark Invest CEO Cathie Wood has been a proponent of space industry growth and she may have found her new <a href="https://www.benzinga.com/topic/space-stocks">favorite stock.</a>
What Happened: Two Ark Invest ETFs added small positions in Intuitive Machines (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LUNR#NASDAQ">LUNR</a>) to their portfolios on Wednesday, as the space stock soared over the past year and could gain more support with recent <a href="https://www.benzinga.com/general/sports/24/12/42647377/intuitive-machines-stock-is-moving-higher-monday-whats-going-on">NASA contract wins.</a>
The stock was added to the Ark Autonomous Technology &amp; Robotics ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKQ#BATS">ARKQ</a>) with 267,642 shares <a href="https://www.ark-funds.com/">purchased</a>. This represents 0.52% of the ETF and the 35th largest position at the time of writing.
To make way for the addition, Ark sold shares of Rocket Lab USA Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RKLB#NASDAQ">RKLB</a>), another high-performing 2024 space stock. Rocket Lab is currently the fourth-largest position in the ETF at 5.59% of assets, trailing only Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), 15.44%; Kratos Defense &amp; Security Solutions (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KTOS#NASDAQ">KTOS</a>), 10.07% and Teradyne Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TER#NASDAQ">TER</a>), 9.03%.
The stock was also added to the Ark Space Exploration &amp; Innovation ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKX#BATS">ARKX</a>) with 160,178 shares purchased. This represents 1.04% of the ETF and the 27th largest position at the time of writing.
To make way for this addition, Ark sold shares of Kratos and Rocket Lab. Kratos is the largest holding in the ETF at 10.20% followed by Rocket Lab at 8.99%.
Both of the purchases, which were reported in overnight trading activity emails, are the total amount of shares owned as of Thursday. This means these were the first purchases by both ETFs. Investors will be closely following to see if Wood adds to the Intuitive Machines positions.
Read Also: <a href="https://www.benzinga.com/markets/penny-stocks/23/08/34102486/exclusive-cathie-wood-tells-benzinga-why-tesla-should-trade-as-a-tech-stock">EXCLUSIVE: Cathie Wood Tells Benzinga Why Tesla Should Trade As A Tech Stock</a>
Why It's Important: Intuitive Machines stock is up over 600% in the past year. The company had one of the biggest headlines in February 2024 as Intuitive Machines had the<a href="https://www.benzinga.com/24/02/37276634/intuitive-machines-built-odysseus-achieves-first-us-soft-landing-on-moon-since-1972-nasa-chief-says"> first private spacecraft</a> land on the moon and the first U.S. soft landing on the surface since 1972.
Optimism for space stocks like Intuitive Machines carries into 2025 with the company announcing several NASA contract awards in December.
Intuitive Machines is also preparing to head back to the moon with a launch targeted for late February.
A recent <a href="https://www.benzinga.com/general/space/25/01/42828631/exclusive-rocket-lab-intuitive-machines-redwire-or-ast-spacemobile-33-of-readers-pick-this-space-stock-for-2025">Benzinga reader poll </a>asked which space stock they would most likely invest in for 2025. Rocket Lab won the poll with 33%. Intuitive Machines ranked second among the four stocks at 24%, while 26% said they wouldn't invest in space stocks in 2025.
The other item to watch is how high up the top holdings list Intuitive Machines is for the Ark Space Exploration ETF.
The Procure Space ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UFO#NASDAQ">UFO</a>) has been holding the stock for some time and Intuitive Machines is currently the top holding at 7.81%.
LUNR Price Action: Intuitive Machines trades at $19.06 at market close Thursday versus a 52-week trading range of $2.48 to $22.32.
Photo: Courtesy of Intuitive Machines

SPACE

Specialty ETFs

ETFs

ARKQ

ARKX

KTOS

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RKLB

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Elon Musk walked back his ambitious federal budget-cutting plans last week, telling investors that slashing $2 trillion from government spending would be a &#8220;best-case outcome&#8221; for his upcoming role in the Trump administration.
&#8220;I think if we try for $2 trillion, we&#8217;ve got a good shot at getting one,&#8221; Musk said to political strategist and Stagwell Inc. chairman Mark Penn during an interview on X, formerly Twitter. The tech billionaire will colead<a href="https://www.benzinga.com/news/25/01/42871802/doge-co-lead-elon-musk-and-vivek-ramaswamy-reportedly-on-a-hiring-spree-for-full-timers"> Trump&#8217;s new Department of Government Efficiency (DOGE) </a>alongside former presidential candidate Vivek Ramaswamy.
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The reduced target undercuts Musk&#8217;s October stance at Trump&#8217;s Madison Square Garden rally, <a href="https://www.benzinga.com/startups/24/11/41704205/elon-musk-says-we-can-cut-2-trillion-out-of-the-harris-biden-budget-and-that-americans-money-is-bein">where he promised to cut &#8220;at least $2 trillion&#8221; from federal spending</a>. Budget experts immediately questioned the math behind such deep reductions, given current spending levels.
Federal expenditures reached $6.75 trillion in fiscal year 2024, with $5.3 trillion allocated to Social Security, health care, defense, veterans&#8217; benefits and debt interest, according to a report issued by Bloomberg. Trump repeatedly promised voters he would not touch Social Security or Medicare during his campaign.
When Penn pressed for specifics on potential cuts, Musk described the government as a &#8220;very target-rich environment for saving money&#8221; but offered no concrete plans. &#8220;It&#8217;s like being in a room full of targets, like you could close your eyes and you can&#8217;t miss,&#8221; he said.
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Previous attempts to dramatically reduce federal spending have stalled in Congress. Sen. Rand Paul&#8217;s recent proposal to cut six cents from every projected spending dollar over five years failed to gain traction, even with Republican majorities in both chambers.
&#8220;There&#8217;s a lot of us out here who are skeptical that they&#8217;re really going to be able to come in out of nowhere and figure out all these savings that nobody else has been able to figure out all these years,&#8221; Philip Wallach, senior fellow at the American Enterprise Institute, told Newsweek.
Musk pitched his revised goal as an &#8220;epic outcome&#8221; if achieved. &#8220;If we can get, drop the budget deficit from $2 trillion to $1 trillion and kind of free up the economy to have additional growth such that the output of goods and services keeps pace with the increase in the money supply, then there will be no inflation,&#8221; he said.
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The timing of Musk&#8217;s tempered expectations mirrors other campaign promises meeting reality. Trump recently extended his timeline for brokering peace between Ukraine and Russia from his first day to six months in office.
Congressional Republicans have begun meeting with Trump to map out his legislative agenda, including tax cuts and immigration reform. However, lawmakers have yet to reach consensus on moving the initiatives forward.
Musk and Ramaswamy take their positions leading the efficiency department when Trump returns to the White House on January 20.
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Startups

Musk's DOGE Ambitions Shrink: Why $2 Trillion Budget Cuts May Be Out Of Reach

EMCOR Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EME#NYSE">EME</a>) has outperformed the market over the past 10 years by 17.63% on an annualized basis producing an average annual return of 28.92%. Currently, EMCOR Group has a market capitalization of $23.51 billion. 
Buying $1000 In EME: If an investor had bought $1000 of EME stock 10 years ago, it would be worth $12,787.54 today based on a price of $510.99 for EME at the time of writing.
<h3>EMCOR Group's Performance Over Last 10 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1737070209_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

$1000 Invested In EMCOR Group 10 Years Ago Would Be Worth This Much Today

The World Bank's Global Economic Prospects report, released Thursday, highlights a fragile outlook as inflation, trade disruptions, geopolitical tensions and policy uncertainty weigh on momentum.
The global economy is expected to stay stuck at 2.7% growth in 2025-&#8217;26, a pace too weak to <a href="https://www.benzinga.com/news/econ-s">drive real economic progress.</a>
Emerging markets, which power 60% of global expansion, are no longer closing the gap with advanced economies as quickly as they once did. 
Yet, some are bucking the trend, with a few poised to grow above 5%, offering rare opportunities for investors in an otherwise sluggish environment.
<h1 class="wp-block-heading">Argentina's Rebound Under Milei's Reforms</h1>
Argentina's economy is staging a comeback, with GDP expected to expand 5% in 2025 and 4.7% in 2026. This sharp rebound follows two years of contraction, driven by a steep currency devaluation and trade imbalances.
"Argentina has seen significant improvements in activity in commodity-related sectors, including agriculture, energy and mining," the World Bank said in its report. The country's trade surplus has also grown, helped by a sharp drop in imports following the peso's depreciation.
President Javier Milei's sweeping economic reforms — focused on slashing government spending, deregulating industries, and stabilizing inflation — are beginning to take hold.
Investor confidence is returning, fueling a 78% surge in the Global X Argentina ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARGT#NYSE">ARGT</a>) over the past year. 
The fund has already attracted more than $700 million in inflows since mid-January 2024.
<h1 class="wp-block-heading">Indonesia: Stable Growth At 5.1%</h1>
Indonesia, Southeast Asia's largest economy, is expected to grow 5.1% in 2025, supported by strong domestic consumption and exports of palm oil, coal, and other commodities.
Despite solid economic growth, the iShares MSCI Indonesia ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EIDO#NYSE">EIDO</a>) has struggled, posting a 14% decline over the past year. 
This weakness reflects concerns over global commodity demand and capital outflows from emerging markets.
<h1 class="wp-block-heading">Philippines: A 6.1% Expansion Fueled By Services</h1>
The Philippines is on track for 6.1% GDP growth in 2025, according to the World Bank. This growth is fueled by its booming services sector, particularly business process outsourcing and remittances from overseas workers. 
Government-backed infrastructure spending is also providing a lift.
Yet, the iShares MSCI Philippines ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EPHE#NYSE">EPHE</a>) has underperformed, slipping 4.6% in the past year. 
<h1 class="wp-block-heading">Vietnam's Manufacturing Strength</h1>
Vietnam is expected to be one of the fastest-growing economies in 2025, with a projected 6.6% expansion. 
"Vietnam's growth spell was both transformative and inclusive," the World Bank said, noting the country ranks among the top emerging markets in achieving sustainable development goals.
The manufacturing sector remains the backbone of Vietnam's economy, benefiting from foreign direct investment and a shift in global supply chains away from China. 
However, the VanEck Vietnam ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VNM#NYSE">VNM</a>) has struggled, dropping 11% over the past year, reflecting broader volatility in emerging markets and China&#8217;s economic slowdown.
<h1 class="wp-block-heading">India: The Growth Powerhouse</h1>
India, the world's fastest-growing major economy, is expected to expand 6.7% in 2025. Though slower than the 8.2% growth recorded in 2023, the country's economic engine remains strong, powered by resilient consumer spending and steady services activity.
Higher inflation and slower credit expansion have dampened urban consumption, but long-term fundamentals remain intact. 
The iShares MSCI India ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/INDA#BATS">INDA</a>) gained 4% over the past year, outperforming many other emerging market funds.
Investors continue to back India's growth story, with over $800 million of inflows over the past year.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Name</td>
<td>Total Return (3М)</td>
<td>Total Return (YTD)</td>
<td>Total Return (1Y)</td>
<td>Total Return (5Y)</td>
<td>Total Return (2024)</td>
<td>Total Return (2023)</td>
<td>Fund flows (1 Year) – USD mn</td>
</tr>
<tr>
<td>Global X Argentina ETF</td>
<td>24.86%</td>
<td>4.84%</td>
<td>78.24%</td>
<td>252.05%</td>
<td>63.46%</td>
<td>53.64%</td>
<td>727.51</td>
</tr>
<tr>
<td>VanEck Vietnam ETF</td>
<td>-8.47%</td>
<td>-1.61%</td>
<td>-11.41%</td>
<td>-24.27%</td>
<td>-11.15%</td>
<td>15.01%</td>
<td>-71.93</td>
</tr>
<tr>
<td>iShares MSCI India ETF</td>
<td>-9.87%</td>
<td>-3.02%</td>
<td>4.09%</td>
<td>53.12%</td>
<td>8.63%</td>
<td>17.16%</td>
<td>867.22</td>
</tr>
<tr>
<td>iShares MSCI Philippines ETF</td>
<td>-14.24%</td>
<td>-1.96%</td>
<td>-4.66%</td>
<td>-20.87%</td>
<td>-1.41%</td>
<td>1.27%</td>
<td>-0.32</td>
</tr>
<tr>
<td>iShares MSCI Indonesia</td>
<td>-16.02%</td>
<td>-0.65%</td>
<td>-14.01%</td>
<td>-20.57%</td>
<td>-13.02%</td>
<td>2.56%</td>
<td>-98.18</td>
</tr>
</tbody>
</table>
</figure>

Sector ETFs

Emerging Market ETFs

Global

ARGT

iShares MSCI Indonesia Investable Market Index Fund

EIDO

ISHARES MSCI PHILIPPINES INVESTABLE MARKET INDEX FUND

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