Latest news for  (OKPRF) Stock

Global Uranium and Enrichment Ltd

Influential economist Peter Schiff suggested on Monday that President Joe Biden sell all of the U.S.-owned Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) before leaving office to help reduce the country&#8217;s ballooning budget deficit.
What happened: Schiff advised Biden via an X post, deeming it the &#8220;one good thing&#8221; the outgoing president can do before clearing the way for a Donald Trump tenure.
&#8220;Not only would the money raised reduce the 2024 budget deficit, but it would put an end to all the nonsense about creating a harmful &#8220;strategic&#8221; Bitcoin Reserve,&#8221; Schiff argued.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The one good thing <a href="https://twitter.com/hashtag/Biden?src=hash&amp;ref_src=twsrc%5Etfw">#Biden</a> can do before leaving office is sell all the <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> currently held by the U.S. Govt. Not only would the money raised reduce the 2024 budget deficit, but it would put an end to all the nonsense about creating a harmful &quot;Strategic&quot; Bitcoin Reserve.
&mdash; Peter Schiff (@PeterSchiff) <a href="https://twitter.com/PeterSchiff/status/1866157505384235099?ref_src=twsrc%5Etfw">December 9, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
<figcaption class="wp-element-caption">Schiff also took a shot at Trump, claiming that the president-elect&#8217;s commitment not to sell any government-owned Bitcoin assets would stand in such a scenario.</figcaption></figure>
&#8220;Biden can do him a favor by selling it all before Trump takes office. That way, Trump won&#8217;t have to break that campaign promise.&#8221;
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42382883/ark-invests-cathie-wood-hails-bitcoins-100k-climb-as-a-big-deal-labels-apex-crypto-as-gold-substitute-and-emerging-reserve-currency">Ark Invest&#8217;s Cathie Wood Hails Bitcoin&#8217;s $100K Climb As A &#8216;Big Deal,&#8217; Labels Apex Crypto As Gold Substitute And Emerging Reserve Currency</a>
Why It Matters: Schiff&#8217;s remarks were in reference to the national Bitcoin stockpile <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/40001426/trump-aims-to-make-us-crypto-capital-of-the-planet-well-get-it-done">promised by Trump</a> at a Bitcoin conference earlier this year and <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/40087880/cynthia-lummis-unveils-strategic-bitcoin-reserve-legislation-this-is-our-louisiana-purchas">furthered </a>by proposed legislation by fellow Republican Senator Cynthia Lummis (R-Wyo.). Trump had advocated selling any Bitcoin holdings.
The U.S. government <a href="https://intel.arkm.com/explorer/entity/usg?ref=dutchcryptonews.com">holds </a>more than 198,000 Bitcoin as of this writing, worth nearly $19.48 billion, per on-chain analytics firm Arkham Intelligence. Proponents of the reserve have argued that Bitcoin&#8217;s value growth could help pay down the national debt, which now <a href="https://www.benzinga.com/personal-finance/24/10/41564246/from-10-trillion-to-35-trillion-how-government-spending-has-spiraled-out-of-control">exceeds $35 trillion</a>. However, Schiff, a fierce critic of everything Bitcoin, warned that such an idea <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41886523/peter-schiff-us-bitcoin-reserve-could-destroy-dollar-predicts-its-highly-unlikely-to-happen" target="_blank" rel="noreferrer noopener">could lead to an economic catastrophe</a>. He suggested that the government would have to continuously increase its Bitcoin holdings, potentially triggering a market crash as investors cash out.
He added that the exercise would end up severely devaluing the dollar, leading to hyperinflation.
Price Action: At the time of writing, Bitcoin was exchanging hands at $97,665.14, down 1.84% in the last 24 hours, according to&nbsp;<a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA.." target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>.&nbsp;

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

Cryptocurrency

News

Markets

$BTC

$DOGE

$LTC

BTCM

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

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

$SHIB

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

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

Movers

Trading Ideas

$ETH

NVDA

Bitcoin, Ethereum, Dogecoin Recover Losses After Flash Crash: Analyst Pinpoints Critical BTC Support Levels

On Monday, China launched an <a href="https://www.benzinga.com/government/regulations/24/12/42389113/nvidia-hit-with-antitrust-probe-in-china-stock-slides">antitrust investigation</a> into Nvidia Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>). However, a top analyst maintains that the case may go unresolved.
What Happened: The investigation, reported by Chinese state media, centers on Nvidia's acquisition of Israeli networking company Mellanox Technologies, approved in 2020, and its potential violations of China's anti-monopoly laws.
Authorities are examining whether Nvidia bundling its AI chips with Mellanox's NVLink technology limits competition and whether the company provides lower-performance solutions to Chinese customers.
In a blog post, analyst Ming-Chi Kuo of TF Securities noted the geopolitical implications, suggesting the investigation could give China leverage amid <a href="https://www.benzinga.com/topic/us-china-relations-0">U.S.-China tensions</a>.
"This case may remain unresolved in the near term," he said, predicting the probe could follow historical precedents, such as Qualcomm's (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>) 15-month antitrust investigation in China.
See Also:&nbsp;<a href="https://www.benzinga.com/24/12/42379986/metas-llama-3-3-70b-outshines-rivals-nvidias-liquid-cooling-breakthrough-xai-raises-6b-this-week-in-ai">Meta&#8217;s Llama 3.3 70B Outshines Rivals, Nvidia&#8217;s Liquid-Cooling Breakthrough, xAI Raises $6B: This Week In AI</a>
China accounts for only 5% of Nvidia's data center revenue. Kuo believes the financial impact on the company will likely be limited in the short term but warned of future investigations.
"Investors should be prepared for potential scenarios where Nvidia's practices, including CUDA, come under further examination," he said.
Compute Unified Device Architecture is a parallel computing platform and API by Nvidia that enables developers to use GPUs for general-purpose computing with accessible programming tools and languages like C, C++, and Python.
<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">Key Analysis of China's Antitrust Investigation into Nvidia<a href="https://t.co/RJJUfVWc8N">https://t.co/RJJUfVWc8N</a>
&mdash; 郭明錤 (Ming-Chi Kuo) (@mingchikuo) <a href="https://twitter.com/mingchikuo/status/1866282876599476389?ref_src=twsrc%5Etfw">December 10, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Subscribe to the <a href="https://bztechtrends.beehiiv.com/subscribe">Benzinga Tech Trends newsletter</a> to get all the latest tech developments delivered to your inbox.
Why It Matters: This development coincides with President-elect Donald Trump&#8217;s ongoing suggestions of imposing <a href="https://www.benzinga.com/personal-finance/24/12/42367505/economists-warn-trumps-tariffs-on-canada-mexico-and-china-could-hurt-your-budget-more-than-help-it">higher tariffs on Chinese imports</a> — a move that typically shifts the financial burden onto domestic consumers through increased prices.
Technology experts appeared to <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/12/42393702/chinese-antitrust-investigation-into-nvidia-all-speculative-tech-expert">minimize the significance</a> of Chinese regulators&#8217; investigation into Nvidia.
For instance, analyst Patrick Moorhead noted that the investigation into Nvidia was unsurprising, given its dominant over 90% market share in a critical industry. Daniel Newman called the allegations speculative. Angela Zhang, a USC law professor suggested that China could be leveraging antitrust law as a tool against U.S. sanctions.
Nvidia is the world's leading provider of AI chips, with a market cap of $3.399 trillion, making it the most valuable company worldwide after Apple Inc.
Last month, Nvidia posted <a href="https://www.benzinga.com/news/earnings/24/11/42099904/nvidia-beats-q3-revenue-eps-estimates-supply-constraints-ding-stock-huang-says-age-of-ai-is-in-full-steam">third-quarter revenue</a> of $35.1 billion, a 94% increase year-over-year, surpassing the Street consensus estimate of $33.12 billion.
Price Action: Nvidia&#8217;s stock fell 2.55% on Monday, closing at $138.81, with an additional 0.63% decline in after-hours trading. Despite this, Nvidia shares have skyrocketed 188.17% year-to-date, significantly outperforming the Nasdaq 100 index&#8217;s 29.6% gain over the same period, according to <a href="http://pro.benzinga.com/">data from Benzinga Pro</a>.
The consensus price target for Nvidia, based on assessments from 40 analysts, is $170.56, with Rosenblatt projecting the highest target at $220 as of Nov. 21. Latest ratings from DA Davidson, Phillip Securities, and Truist Securities average $154.67, suggesting a potential upside of 12.13%.
<figure class="wp-block-image size-large"><a href="https://www.benzinga.com/quote/NVDA/analyst-ratings"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/09203956/Screenshot-2024-12-10-at-7.09.51%E2%80%AFAM-1024x375.png" alt="" class="wp-image-684277" /></a></figure>
Check out more of Benzinga's Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech">following this link</a>.
Image via Shutterstock
Read Next:
<ul>
<li><a href="https://www.benzinga.com/tech/24/12/42358400/elon-musks-xai-raises-6b-for-the-2nd-time-this-year-as-it-looks-to-take-the-challenge-to-openai-google-and-jeff-bezos-backed-anthropic?itm_source=parsely-api">Elon Musk's xAI Raises $6B For The 2nd Time This Year As It Looks To Take The Challenge To OpenAI, Google And Jeff Bezos-Backed Anthropic</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Legal

Tech

Media

QCOM

Nvidia China Antitrust Probe May 'Remain Unsolved' In Near Term Says Top Analyst; Investors Should Be Prepared For Increased Scrutiny

Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) could see significant growth from a new budget electric vehicle offering, according to prominent investor Gary Black, who <a href="https://www.benzinga.com/24/12/42391708/tesla-to-370-here-are-10-top-analyst-forecasts-for-monday">raised his price target for the EV maker</a> by 27% to $380 from $300 on Monday.
What Happened: Black, Managing Partner at The Future Fund LLC, attributes his &#8220;increased conviction&#8221; to expectations that Tesla will launch a $25,000-$30,000 hatchback model, potentially capturing approximately 15% of the global compact car market.
His revised earnings estimates surpass Wall Street consensus, projecting adjusted earnings per share of $3.80 for 2025 and $17.00 by 2030.
The investment thesis comes amid Black&#8217;s recent portfolio adjustments. In November, his fund trimmed its Tesla position at $351 after the stock <a href="https://www.benzinga.com/markets/24/11/42159444/gary-black-defends-tesla-trim-at-351-no-one-ever-went-broke-by-taking-profits-amid-stocks-150-surge">surged 150% from April lows</a>. The Future Fund&#8217;s Tesla investment strategy has proved profitable, with an average purchase price of $162 and a <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41870590/tesla-remains-core-for-gary-black-despite-price-cuts-earnings-drop-nvidia-google-eli-lilly-among-top-performers-in-tech-bulls-portfolio">selling price of $252 since early 2023</a>.
Tesla ranks among the top five positions for The Future Fund Active ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FFND#NYSE">FFND</a>). 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Raising my <a href="https://twitter.com/search?q=%24TSLA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TSLA</a> price target to $380 from $300, based on increased conviction that TSLA will launch a $25K-$30K hatchback that vaults TSLA into the global compact category (~15% global share). I have increased my TSLA Adj EPS as follows: &#8211; 2025 $3.80 from $3.60 (WS $3.29) -… <a href="https://t.co/EInUAo0VOZ">pic.twitter.com/EInUAo0VOZ</a>
&mdash; Gary Black (@garyblack00) <a href="https://twitter.com/garyblack00/status/1866187649041490057?ref_src=twsrc%5Etfw">December 9, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24TSLA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TSLA</a> Summary &#8211; 12/09/2024 Upside: 1/ EV adoption +20%-25% per yr 2/ Fed cuts rate by another 25bp by Y.E. 3/ Higher FSD take rates/licensing deal 4/ Trump streamlines process for securing autonomous driving licenses nationally 5/ $25K-$30K Model Q Compact launch FY'25 1H…
&mdash; Gary Black (@garyblack00) <a href="https://twitter.com/garyblack00/status/1866204309915885821?ref_src=twsrc%5Etfw">December 9, 2024</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/earnings/24/12/42400723/oracle-q2-earnings-revenue-miss-eps-miss-ai-growth-ellison-says-opportunity-is-unimaginable">Oracle Q2 Earnings: Revenue Miss, EPS Miss, AI Growth, Ellison Says &#8216;Opportunity Is Unimaginable&#8217;</a>
What Happened: Black identified several potential catalysts for Tesla, including continued EV adoption growth of 20-25% annually, increased Full Self-Driving adoption, and possible autonomous driving license streamlining under President-elect Donald Trump&#8216;s administration. 
However, he also noted key risks, including the potential elimination of the $7,500 EV tax credit and regulatory challenges for autonomous driving features.
The revised target reflects Black&#8217;s confidence in Tesla&#8217;s long-term growth, using a PEG ratio of 1.75x and projected long-term EPS growth of 25%. Despite his optimistic outlook, Black recently expressed caution about Tesla&#8217;s current valuation, noting that the stock&#8217;s 50% rise since November&#8217;s election has been driven primarily by P/E expansion <a href="https://www.benzinga.com/24/12/42377001/analyst-says-he-is-very-bullish-but-cautious-about-teslas-stock-rally-notes-eps-revisions-have-not-kept-pace-with-stock-price-since-trumps-victory">rather than earnings estimate revisions</a>.
Price Action: Tesla closed at $389.79 on Monday, up 0.15% for the day. In after-hours trading, the stock rose further to $392.35, gaining an additional 0.66%. Year to date, Tesla shares have surged by 56.91%.
According to <a href="https://www.benzinga.com/quote/TSLA/analyst-ratings">data from Benzinga Pro</a>, Tesla has a consensus price target of $251.06 from 34 analysts, ranging from a high of $411 to a low of $24.86. The latest ratings from Deutsche Bank, Guggenheim, and BofA Securities average $315, implying a 19.71% downside.
<figure class="wp-block-image size-large"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/09202715/Screenshot-2024-12-10-at-6.56.15%E2%80%AFAM-1024x378.png" alt="" class="wp-image-684250" /></figure>
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/general/health-care/24/12/42398524/person-of-interest-named-in-unitedhealthcare-ceos-murder-ghost-gun-found">Person of Interest Named In UnitedHealthcare CEO&#8217;s Murder: Ghost Gun Found</a></li>
</ul>
Image Via Shutterstock 
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Equities

FFND

TSLA

Gary Black Boosts Tesla Price Target By 27% To $380 Based On 'Increased Conviction' That Elon Musk-Led Company Will Launch $25K Hatchback

Citigroup analyst Yigal Nochomovitz maintains Merus (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRUS#NASDAQ">MRUS</a>) with a Buy and raises the price target from $89 to $97.

Price Target

Analyst Ratings

MRUS

Citigroup Maintains Buy on Merus, Raises Price Target to $97

Citigroup analyst Michael Bilerman maintains SITE Centers (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SITC#NYSE">SITC</a>) with a Neutral and lowers the price target from $18 to $16.

SITC

Citigroup Maintains Neutral on SITE Centers, Lowers Price Target to $16

UBS analyst Leonardo Olmos downgrades TIM (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TIMB#NYSE">TIMB</a>) from Buy to Neutral.

Downgrades

TIMB

UBS Downgrades TIM to Neutral

UBS analyst Jay Sole maintains Nike (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NKE#NYSE">NKE</a>) with a Neutral and lowers the price target from $82 to $80.

UBS Maintains Neutral on Nike, Lowers Price Target to $80

UBS initiates coverage on Zoetis (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZTS#NYSE">ZTS</a>) with a Neutral rating and announces Price Target of $196.

Initiation

UBS Initiates Coverage On Zoetis with Neutral Rating, Announces Price Target of $196

UBS analyst Josh Silverstein maintains Chord Energy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHRD#NASDAQ">CHRD</a>) with a Buy and lowers the price target from $168 to $161.

CHRD

UBS Maintains Buy on Chord Energy, Lowers Price Target to $161

UBS analyst Erika Najarian maintains Wells Fargo (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>) with a Buy and raises the price target from $69 to $85.

UBS Maintains Buy on Wells Fargo, Raises Price Target to $85

UBS analyst Josh Silverstein maintains Antero Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AR#NYSE">AR</a>) with a Neutral and raises the price target from $31 to $35.

UBS Maintains Neutral on Antero Resources, Raises Price Target to $35

UBS analyst Josh Silverstein maintains Occidental Petroleum (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>) with a Neutral and lowers the price target from $58 to $51.

UBS Maintains Neutral on Occidental Petroleum, Lowers Price Target to $51

UBS analyst Josh Silverstein maintains Murphy Oil (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MUR#NYSE">MUR</a>) with a Neutral and lowers the price target from $38 to $34.

UBS Maintains Neutral on Murphy Oil, Lowers Price Target to $34

UBS analyst Josh Silverstein maintains APA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APA#NASDAQ">APA</a>) with a Neutral and lowers the price target from $28 to $27.

UBS Maintains Neutral on APA, Lowers Price Target to $27

UBS analyst Josh Silverstein maintains Ovintiv (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OVV#NYSE">OVV</a>) with a Buy and lowers the price target from $59 to $56.

UBS Maintains Buy on Ovintiv, Lowers Price Target to $56

UBS analyst Josh Silverstein maintains Diamondback Energy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FANG#NASDAQ">FANG</a>) with a Buy and lowers the price target from $235 to $212.

FANG

UBS Maintains Buy on Diamondback Energy, Lowers Price Target to $212

UBS analyst Josh Silverstein downgrades Halliburton (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HAL#NYSE">HAL</a>) from Buy to Neutral and lowers the price target from $36 to $34.

Comments

News

Latest news for (OKPRF) Stock

Popular Channels

Tools & Features

Partners & Contributors

About Benzinga