 (OTC:OTSBS) Stock, Quote.Headers.trade-ideas

The units are expected to be listed on The Nasdaq Stock Market LLC ("Nasdaq") and begin trading tomorrow, December 13, 2024, under the ticker symbol "MLACU." Each unit consists of one Class A ordinary share and one right. Each right entitles the holder thereof to receive one-tenth (1/10) of one Class A ordinary share upon the consummation of an initial business combination.&nbsp;

News

IPOs

MLAC

MLACU

Reported Earlier, Mountain Lake Acquisition Prices Upsized $210M Initial Public Offering Of 21M Units At $10/Unit

UNIT

Reported Earlier, Uniti Group Announces $1.4B Pricing For Windstream's Add-On Offering Of 8.250% Senior First Lien Notes Due 2031

While the company will make a significant investment in this project, its U.S. subsidiary, MELCO HVAC US, Inc., is pleased to receive a $50 million award from the U.S. Department of Energy (DOE)'s Office of Manufacturing and Energy Supply Chains (MESC) for the domestic production of high-efficiency heat pump technology. This funding will be allocated over three years for the retrofitting of the U.S. factory.&nbsp;

MIELY

Reported Earlier, Mitsubishi Electric To Invest $143.5M In U.S.-Based Factory For High-Efficiency Heat Pump Compressor Production

WASH

Reported Earlier, Washington Trust Prices $61.75M Upsized Stock Offering Of 1,911,764 Common Shares At $34/Share

Candel Therapeutics, Inc. ("Candel") (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CADL#NASDAQ">CADL</a>), a clinical stage biopharmaceutical company focused on developing multimodal biological immunotherapies to help patients fight cancer, today announced the pricing of an underwritten public offering of 10,000,001 shares of its common stock at a price to the public of $6.00 per share and pre-funded warrants to purchase up to an aggregate of 3,333,333 shares of its common stock at a price to the public of $5.99 per pre-funded warrant to purchase one share of the common stock, which represents the per share public offering price for the common stock less the $0.01 per share exercise price for each such pre-funded warrant. Candel intends to use the net proceeds from the offering to continue the development of its product candidates, including preparing submission of a Biologics License Application for CAN-2409 in prostate cancer and for general corporate purposes.

CADL

Reported Earlier, Candel Therapeutics Prices $80M Public Offering 10M Common Stock And Pre-Funded Warrants

Tolebrutinib designated Breakthrough Therapy by the FDA for non-relapsing secondary progressive multiple sclerosis
<ul>
<li>Designation is based on positive results from the HERCULES study in adults with non-relapsing secondary progressive multiple sclerosis (nrSPMS)</li>
<li>Tolebrutinib is the first and only brain-penetrant BTK inhibitor in MS to be designated Breakthrough Therapy by the FDA&nbsp;</li>
</ul>

Sanofi's Tolebrutinib Achieves FDA Breakthrough Therapy Designation For Non-Relapsing Secondary Progressive Multiple Sclerosis (nrSPMS)

SpaceX CEO Elon Musk said on Thursday that the version of the Starship spacecraft planned for the launch vehicle&#8217;s <a href="https://www.benzinga.com/24/12/42455167/spacex-rolls-out-starship-for-testing-ahead-of-next-flight-will-the-7th-test-happen-before-2024-end">seventh test flight</a> features &#8220;major&#8221; design improvements.
What Happened: &#8220;Lighter, easier to manufacture and less susceptible to high heating,&#8221; Musk said in a post on X about the new version of the spacecraft. 
<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">Major design improvement. Lighter, easier to manufacture and less susceptible to high heating.
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1867264058627621191?ref_src=twsrc%5Etfw">December 12, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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While SpaceX often makes design changes to Starship, the vehicle planned for its seventh flight test will feature &#8220;significant upgrades,&#8221; the company said last month. They will have redesigned forward flaps, larger propellant tanks, and the latest generation tiles and secondary thermal protection layers, it added.
SpaceX <a href="https://www.benzinga.com/24/12/42455167/spacex-rolls-out-starship-for-testing-ahead-of-next-flight-will-the-7th-test-happen-before-2024-end">rolled out Starship</a> to the launch pad at Starbase for testing ahead of its next flight test earlier this week and its booster last week, implying an imminent launch. The company, however, did not specify when the next flight would be.
Starship is currently in the testing and development phase. The company has conducted six test flights of the vehicle thus far starting in April 2023 but without a payload. The last flight test took place in November.
Why It Matters:&nbsp;The Starship vehicle is part of big dreams. While NASA is looking forward to landing humans back on the surface of the Moon after a gap of over 50 years with the help of a&nbsp;<a href="https://www.benzinga.com/24/11/42108681/spacex-shows-off-conceptual-version-of-starship-which-will-help-humans-land-back-on-moon-in-over-50-yrs" target="_blank" rel="noreferrer noopener">custom version of Starship</a>, Musk is dreaming of taking&nbsp;<a href="https://www.benzinga.com/news/24/09/40770222/elon-musk-sets-2026-for-starships-first-uncrewed-mars-mission-targeting-successful-landing" target="_blank" rel="noreferrer noopener">humans to the planet Mars</a>&nbsp;aboard Starship.
"…I would not be surprised if we fly 400 Starship launches in the next four years,&#8221; SpaceX President and COO&nbsp;Gwynne Shotwell&nbsp;<a href="https://www.benzinga.com/general/space/24/11/42105704/spacex-ceo-elon-musk-reveals-technical-glitch-that-led-company-to-drop-key-objective-of-starships-6th-test-flight" target="_blank" rel="noreferrer noopener">said at the Baron Investment Conference</a>&nbsp;in New York last month.
For the upcoming flight test, SpaceX will attempt to land the Starship spacecraft in the ocean yet again.
"We will do one more ocean landing of the ship. If that goes well, then SpaceX will attempt to catch the ship with the tower (launch tower at Starbase)," Musk previously said.
Amid this, SpaceX hit a <a href="https://www.benzinga.com/24/12/42453807/spacex-hits-350-billion-valuation-in-insider-share-sale-ceo-elon-musk-says-no-investors-wanted-to-sell-shares">valuation of $350 billion</a> following a recent insider share sale, surging 67% from its previous valuation of $210 billion.
While SpaceX is currently a private entity, investors can leverage Destiny Tech100 Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DXYZ#NYSE">DXYZ</a>) and Cathie Wood‘s Ark Venture Fund (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARKVX#NASDAQ">ARKVX</a>) to participate in the Musk-led space company&#8217;s growth.
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>
Read Next:
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<li><a href="https://www.benzinga.com/24/12/42453807/spacex-hits-350-billion-valuation-in-insider-share-sale-ceo-elon-musk-says-no-investors-wanted-to-sell-shares" target="_blank" rel="noreferrer noopener">SpaceX Hits $350 Billion Valuation In Insider Share Sale: CEO Elon Musk Says ‘No Investors Wanted To Sell Shares'</a></li>
</ul>
Photo courtesy: SpaceX

SPACE

Tech

ARKVX

DXYZ

Elon Musk Reveals SpaceX's New Starship Spacecraft Is 'Easier To Manufacture And Less Susceptible To High Heating' Ahead Of 7th Test Flight

Japan&#8217;s revised drug laws, which took effect on Thursday, now criminalize the use of cannabis and tetrahydrocannabinol, the psychoactive <a href="https://www.benzinga.com/24/12/42420622/dear-donald-cannabis-groups-letter-to-trump-urging-reform-including-gun-rights-for-marijuana-users">compound found in the plant</a>. 
What Happened: While possession, transfer, and cultivation of cannabis were already prohibited, the new laws will classify cannabis as a narcotic and penalize its use, with offenders facing up to seven years in prison, <a href="https://mainichi.jp/english/articles/20241212/p2g/00m/0na/014000c">reported</a> The Mainichi.
The changes come amid growing concerns over drug abuse, particularly among young people. In 2023, Japan reported a record 6,703 criminal cases involving cannabis, surpassing methamphetamine cases for the first time, according to the Health, Labor, and Welfare Ministry. 
Notably, 70% of those involved were under the age of 30. A nationwide survey from the same year estimated that around 200,000 individuals had used marijuana within the past year.
See Also: <a href="https://www.benzinga.com/general/entertainment/24/12/42472696/seth-rogen-launches-cannabis-infused-sparkling-water-because-not-everyone-wants-to-smoke">Seth Rogen Launches Cannabis-Infused Sparkling Water Because &#8216;Not Everyone Wants To Smoke&#8217;</a>
Why It Matters: Previously, cannabis use was not penalized, partly due to the presence of hemp farming in Japan, where accidental exposure to cannabis could occur. 
However, the new laws aim to strengthen the country's stance on drug control while still allowing for medical cannabis products that are proven to be both effective and safe. These medical cannabis-based products will now be regulated under a licensing system, similar to other pain-relieving drugs.
The changes also remove the previous ban on cannabis-derived medicines, allowing access to treatments like cannabidiol, which has been approved in Europe and the U.S. for conditions such as severe epilepsy. Despite the tightening of cannabis laws, Japan will continue to focus on strict regulations surrounding cultivation under the revised framework.
Read Next: 
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<li><a href="https://www.benzinga.com/news/legal/24/12/42466804/biden-commutes-1500-sentences-grants-39-pardons-pot-prisoners-included-marks-single-day-record">Biden Commutes 1,500 Sentences, Grants 39 Pardons — Pot Prisoners Included — Marks Single-Day Record</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Global

Cannabis Users In Japan Face 7-Year Prison Sentences After Law Revised

Macro Economic Events

Econ #s

Economics

BBJP

WisdomTree Trust Japan Total Dividend Fund

Reported Earlier, Japan Tankan Large Non-Manufacturers Index For Q4 33 Vs. 33 Est.; 34 Prior

Reported Earlier, Japan Tankan Large Manufacturers Index For Q4 14 Vs. 13 Est.; 13 Prior

Reported Earlier, Japan Tankan Big Manufacturing Outlook Index For Q4 13 Vs. 14 Prior

Reported Earlier, Japan Industrial Production (MoM) For October 2.8% Vs. 3.0% Est.; 1.6% Prior

Reported Earlier, Japan Tankan All Big Industry CAPEX For Q4 11.3% Vs. 9.6% Est.; 10.6% Prior

A popular cryptocurrency analyst cautioned Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) traders on Thursday not to overly focus on the cryptocurrency, as its movements are linked to what Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) does.
What Happened: Kevin, known for sharing insights and forecasting price movements for the meme coin giant, stated, &#8220;My position is that DOGE is not in control of itself, and its fate lies purely in BTC&#8217;s hands at the moment. so overly focusing on the asset is sort of a waste of time.&#8221;
The analyst added that he was hopeful the ongoing cycle would head higher in the days ahead regardless of &#8220;short-term noises.&#8221; &#8220;Nothing else to do but sit back and wait if you&#8217;re a long-term holder who got in early like myself.&#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">Let&#39;s keep this is as simple as possible. <a href="https://twitter.com/hashtag/Dogecoin?src=hash&amp;ref_src=twsrc%5Etfw">#Dogecoin</a> is currently trading between the macro golden pocket and the macro .5 Fib. These are two major areas of support and resistance and a break of either or will cause a cascading affect of aggressive movement. My position is that… <a href="https://t.co/Au2jWhHwTS">pic.twitter.com/Au2jWhHwTS</a>
&mdash; Kevin (@Kev_Capital_TA) <a href="https://twitter.com/Kev_Capital_TA/status/1867353105178013892?ref_src=twsrc%5Etfw">December 12, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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Interestingly, Dogecoin had a 0.77 price correlation with Bitcoin, lower than Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) and Cardano (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/ada/usd">ADA</a>), but higher than Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>), <a href="https://app.intotheblock.com/coin/DOGE">according </a>to IntoTheBlock.
For context, a correlation close to 1 implies a strong positive correlation between the two prices while a correlation near 0 suggests no correlation.
See Also: <a href="https://www.benzinga.com/24/12/42477105/trump-linked-world-liberty-financials-purchases-have-aave-and-chainlink-topping-crypto-gainers-list">Trump-Linked World Liberty Financial&#8217;s Purchases Induce Searing Hot Rally In Aave And Chainlink</a>
Why It Matters: Kevin&#8217;s remarks came at a time when the cryptocurrency market was experiencing significant volatility. DOGE retreated on Thursday, which, in turn, followed <a href="https://www.benzinga.com/24/12/42476412/bitcoin-dogecoin-slide-ethereum-gains-amid-hotter-than-expected-inflation-data-top-analyst-makes-bullish-forecast-for-altcoin-investors">Bitcoin&#8217;s dip below $100,000</a>.
Large transaction volumes jumped 41% in the past 24 hours, indicating a surge in whale activity, per <a href="https://app.intotheblock.com/">IntoTheBlock</a> data. Long-term holders were offloading DOGE, as evidenced by a 0.88% drop in balance held by addresses that had held the cryptocurrency for at least a year.
DOGE&#8217;s Open Interest, the total money locked in derivatives contracts, also fell by 0.83%. The number of traders placing downside bets trumped those speculating on price rises, as <a href="https://www.coinglass.com/LongShortRatio">per </a>the Long/Shorts Ratio.
Price Action:  At the time of writing, Dogecoin was exchanging hands at $0.4068, down 2.50% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>.
Read Next: 
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<li><a href="https://www.benzinga.com/24/12/42476809/texas-joins-crypto-movement-introduces-bill-to-set-up-bitcoin-reserve">Texas Mirrors Trump&#8217;s Vision, Introduces Bill To Set Up Bitcoin Reserve With 5-Year Holding Period</a></li>
</ul>
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.<a href="https://www.benzinga.com/apis?utm_source=benzinga.com&amp;utm_campaign=article-bottom" rel="noreferrer noopener" target="_blank"></a>

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

Cryptocurrency

Markets

$ADA

$BTC

$DOGE

$ETH

$SHIB

DOGE

Dogecoin's Fate Tied To Bitcoin, Says Crypto Analyst: 'Sit Back And Wait'

Russian state-backed hackers compromised Ukrainian military <a href="https://www.benzinga.com/news/24/04/38307336/russian-online-influence-resurgence-poses-threat-to-us-election-star-blizzard-hacking-activity-escal">devices by identifying and targeting</a> IP addresses associated with Elon Musk-owned SpaceX&#8216;s Starlink internet connections, according to a Microsoft Threat Intelligence report released Wednesday. 
What Happened: The hacking group, known as Secret Blizzard and linked to Russia&#8217;s Federal Security Service, deployed malware to specifically selected target devices between March and April after identifying Ukrainian military units through their Starlink IP address signatures.
Secret Blizzard aims to secure long-term access to systems for intelligence gathering, often targeting advanced research and politically sensitive information, utilizing extensive resources like multiple backdoors.
&#8220;The threat actor selectively deployed tools to devices of further interest—for example, devices egressing from STARLINK IP addresses, a common signature of Ukrainian front-line military devices,&#8221; Microsoft&#8217;s report stated.
Microsoft researchers observed Secret Blizzard using malware called Amadey bot to gain initial access, followed by deploying sophisticated backdoors named Tavdig and KazuarV2 to maintain long-term surveillance capabilities.
See Also: <a href="https://www.benzinga.com/24/12/42476730/peter-thiels-founders-fund-leads-600m-crusoe-investment-betting-big-on-ai-infrastructure">Peter Thiel Says, &#8216;The Biggest Risk With AI Is That We Don&#8217;t Go Big Enough&#8217; As His Founders Fund Leads $600 Million Crusoe Investment</a>
Why It Matters: The U.S. Cybersecurity and Infrastructure Security Agency (CISA) has previously attributed Secret Blizzard to Center 16 of Russia&#8217;s FSB. The group primarily targets ministries of foreign affairs, embassies, government offices, and defense-related organizations worldwide.
Microsoft said it has directly notified affected customers and provided recommendations for strengthening network defenses against such attacks. 
The company emphasized that while this approach of compromising existing access points is concerning, properly configured security measures can effectively detect and block these threats.
Read Next: 
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<li><a href="https://www.benzinga.com/24/12/42476184/jeff-van-drew-calls-out-pentagon-for-hiding-information-about-mysterious-new-jersey-drones-national-security-crisis-we-cannot-ignore">Jeff Van Drew Calls Out Pentagon For Hiding Information About Mysterious New Jersey Drones: &#8216;National Security Crisis We Cannot Ignore&#8217;</a></li>
</ul>
Image Via Shutterstock 
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Russian State-Backed Hackers Target Ukrainian Military Devices Via SpaceX's Starlink, Microsoft Reveals

If there's one thing we can learn from Bill Gates and Warren Buffett, it's this: even billionaires bond over Oreos.
Lately, rumors have swelled about a<a href="https://www.benzinga.com/news/24/08/40304161/bill-gates-and-warren-buffett-have-been-friends-for-decades-but-rising-tensions-now-threaten-their-p"> rough patch</a> in their once rock-solid friendship. While the exact details are unclear, it's reported that Buffett, who has donated an astounding $43 billion to the Bill &amp; Melinda Gates Foundation since 2006, may have grown frustrated with the organization's bureaucracy. Reports also suggest he's planning to cease contributions after his death. Regardless, the heart of their relationship – built on decades of camaraderie and respect – deserves a closer look.
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<li><a href="https://www.benzinga.com/money/are-you-rich">Are you rich?</a> Here&#8217;s what Americans think you need to be considered wealthy.</li>
<li>Can you guess how many retire with a $5,000,000 nest egg? <a href="https://www.benzinga.com/money/5mil-nest-egg-adv">The percentage may shock you</a>.</li>
</ul>
In a 2016 Gates Notes blog post, Gates reflected on their 25-year friendship, which began in the summer of 1991. Gates was dragged, somewhat reluctantly, to meet Buffett at a family retreat. At the time, Gates wasn't impressed. "Look, he just <a href="https://www.benzinga.com/general/24/03/37780305/bill-gates-said-he-didnt-want-to-meet-warren-buffett-he-just-buys-and-sells-pieces-of-paper-but-his">buys and sells pieces of paper</a>. That's not real value-added," Gates told his mother. But what started as a meeting he wanted to skip turned into hours of fascinating conversation – and the beginning of an extraordinary friendship.
One moment that perfectly <a href="https://www.benzinga.com/news/24/11/42144671/warren-buffett-thinks-bill-gates-is-smart-as-hell-but-says-his-ex-wife-melinda-is-smarter-in-terms-of-seeing-the-whole-picture">encapsulates their bond</a>? The first time Buffett stayed at Gates' home and cracked open a package of Oreos – for breakfast. Gates recalled the scene with a mix of amusement and disbelief. "Our kids immediately demanded they have some too. He may set a poor example for young people, but it's a diet that somehow works for him."
See Also: ‘Scrolling To UBI' — Deloitte's #1 fastest-growing software company allows users to earn money on their phones. <a href="https://www.benzinga.com/money/mode-mobile-2">You can invest TODAY for just $0.26/share with a $1000 minimum.</a>
Buffett's unique eating habits are legendary: <a href="https://www.benzinga.com/24/11/42115069/warren-buffett-is-set-to-collect-776-million-in-coca-cola-dividends-but-daughter-says-his-wife-buys-him-the-soda-on-sale">burgers, Coke and ice cream</a> make up most of his menu. It's like he found his favorite diner meal as a kid and decided to stick with it for life. Gates finds it all hilariously endearing, which is probably why their dinners together are always so memorable. "That's one reason it's so fun to go out to dinner with him," Gates wrote.
Their friendship has always been peppered with quirky moments. During a visit to Buffett's Omaha home, Gates and his wife Melinda discovered the dining room chairs were missing their cushions – Buffett hadn't noticed they'd been out for reupholstering for months. Then there's the fact that Buffett, despite being worth over $100 billion, personally drives to the airport to pick Gates up. No chauffeur, no fanfare – just Buffett in his car, ready with a story or joke.
Trending: Studies show 50% of consumers think Financial Advisors cost much more than they do —<a href="https://www.benzinga.com/money/money-pickle"> to debunk this, this company provides matching for free and a complimentary first call with the matched advisor.</a>
Gates says those small, human gestures make Buffett an extraordinary friend. "It's a small gesture, but it means the world to me. I'm always impatient for the plane doors to open because I know Warren will be waiting with a <a href="https://www.benzinga.com/personal-finance/24/11/42025535/warren-buffett-has-a-mcgold-card-granting-him-a-lifetime-of-free-food-thats-why-the-buffett-family-has-christmas-dinner-at-mcdonalds">new story or a joke.</a>"
Over the years, Buffett has shared plenty of wisdom with Gates – not just about business but life. "He's helped us do two things that are impossible to overdo in one lifetime: learn and laugh more," Gates wrote. Buffett even sends Gates articles he thinks he'll find interesting – through actual snail mail.
While recent reports hint at potential tension between the two, the essence of their relationship shines through in the stories Gates has shared. "Friendship is about being the kind of friend you wish you had yourself," Gates once wrote. Whether it's sharing wisdom, laughter or a package of Oreos, their bond reminds us that the best parts of life are often the simplest – and sometimes chocolate-coated.
Read Next:
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<li>Many are using this retirement income calculator to check if they&#8217;re on pace —<a href="https://www.benzinga.com/money/how-do-i-calculate-my-retirement-income-adv"> here&#8217;s a breakdown on what&#8217;s behind this formula.</a></li>
<li>The average American couple has saved this much money for retirement —<a href="http://www.benzinga.com/money/smartasset"> How do you compare</a>?</li>
</ul>
Image via Wikimedia Commons/ Flickr

Bill Gates Recalls The Time Warren Buffett Slept Over And Ate Oreos For Breakfast – 'Poor Example For Young People' But It Works For Him

Aave and Chainlink were the biggest cryptocurrency gainers on Thursday following significant purchases from President-elect Donald Trump-backed project, World Liberty Financial.&nbsp;
What happened: AAVE topped the gainers list, leaping over 19% in the last 24 hours to its highest value since Sept. 2021. The coin's trading volume popped 146% to $2.38 billion, while its market valuation topped $5 billion.
AAVE is the native cryptocurrency of the renowned decentralized lending protocol, Aave, which has over $22 billion in total value locked, per <a href="https://defillama.com/protocol/aave">data </a>from DeFiLlama.
A noted cryptocurrency trader, Alex Clay, stated that AAVE was going "according to the plan."
"Now looking for some correction below the major supply zone and then breakout of the one," he added.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 9:30 p.m. EDT)</td>
</tr>
<tr>
<td>Aave (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/aave/usd">AAVE</a>)</td>
<td>+19.24%</td>
<td>$361.60</td>
</tr>
<tr>
<td>Chainlink (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/link/usd">LINK</a>)</td>
<td>+17.26%</td>
<td>$28.41</td>
</tr>
</tbody>
</table>
</figure>
Similarly, LINK soared over 17%, also to a 3-year high, while its volume exploded by 222% over the last 24 hours. The cryptocurrency was within touching distance of bettering its all-time high market capitalization of $19.85 billion.
Michaël van de Poppe, a cryptocurrency expert and early supporter of LINK, referred to it as an &#8220;undervalued gem.&#8221;
"The all-time high at $50 will look very small in the following years," he predicted.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24LINK&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$LINK</a> is such an undervalued gem. I&#39;ve said at $6 that it&#39;s a lifetime opportunity. They partnered with Emirates NBD, and Trump&#39;s World Liberty Fi is buying $1M in <a href="https://twitter.com/search?q=%24LINK&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$LINK</a>. The all-time high at $50 will look very small in the following years. <a href="https://t.co/iHLPkN9hIY">pic.twitter.com/iHLPkN9hIY</a>
&mdash; Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1867288310164725816?ref_src=twsrc%5Etfw">December 12, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
LINK is the native cryptocurrency of Chainlink, a project that connects real-world data to blockchains.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42452819/trump-backed-world-liberty-financial-bags-10m-in-ethereum-whats-going-on">Trump-Backed World Liberty Financial Bags $10M In Ethereum: What&#8217;s Going On?</a>
Why It Matters: The upsurge in the two coins comes amid strong accumulation by decentralized finance project World Liberty Financial.
The Trump-backed project spent $2 million to buy 78,387 LINK tokens and $1.25 million to bag 4,043 AAVE tokens in the last 24 hours, as per on-chain data.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Donald Trump's World Liberty Financial (<a href="https://twitter.com/worldlibertyfi?ref_src=twsrc%5Etfw">@worldlibertyfi</a>) continues to accumulate <a href="https://twitter.com/search?q=%24LINK&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$LINK</a> and <a href="https://twitter.com/search?q=%24AAVE&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$AAVE</a>! In the past 5 hours, this fund further bought 37,052 <a href="https://twitter.com/search?q=%24LINK&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$LINK</a> ($1M) and 685.4 <a href="https://twitter.com/search?q=%24AAVE&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$AAVE</a> ($247K). In total, they have spent $2M to buy 78,387 <a href="https://twitter.com/search?q=%24LINK&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$LINK</a> at an average price of $25.51, now up… <a href="https://t.co/9B5kXC1vIp">https://t.co/9B5kXC1vIp</a> <a href="https://t.co/0KbXqsxGMC">pic.twitter.com/0KbXqsxGMC</a>
&mdash; Spot On Chain (@spotonchain) <a href="https://twitter.com/spotonchain/status/1867384207825375635?ref_src=twsrc%5Etfw">December 13, 2024</a></blockquote>
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World Liberty Financial is being <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40905315/donald-trumps-new-crypto-project-world-liberty-financial-everything-you-need-to-know">promoted as a decentralized money market </a>that will allow users to borrow, lend, and earn interest on cryptocurrencies.
While the project itself is a hard fork of Aave, the usage of LINK tokens implied steps to digitize real-world data and put it on blockchains.
Image via World Liberty Financial
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Trump-Linked World Liberty Financial's Purchases Induce Searing Hot Rally In Aave And Chainlink

Wedbush Securities analyst Dan Ives predicts Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) will ship more than 240 million iPhones in 2025, setting a new annual record as artificial intelligence features in the iPhone 16 spark a &#8220;multi-year supercycle.&#8221;
What Happened: In a post on X on Thursday, Ives emphasized the significance of AI integration in consumer devices, particularly highlighting Apple&#8217;s upcoming iPhone lineup. This projection comes as Apple&#8217;s stock trades near all-time highs, up 33.57% year-to-date at $247.96.
&#8220;The AI revolution is coming, not just to the enterprise, but to the consumer, with Cupertino,&#8221; Ives <a href="https://www.cnbc.com/video/2024/12/12/tech-will-be-in-a-bull-market-for-the-next-2-3-years-says-wedbush-securities-dan-ives.html">told</a> CNBC, predicting Apple will reach a $4 trillion market capitalization by early 2025. The tech giant currently holds a market value of $3.74 trillion.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">We believe iPhone 16 has kicked off a multi-year supercycle for Apple as the AI Revolution comes to the consumer. We expect Apple will ship more than 240 million iPhones in 2025 breaking its annual record <a href="https://twitter.com/SquawkStreet?ref_src=twsrc%5Etfw">@SquawkStreet</a> &#x1f34f;&#x1f34e;&#x1f525;&#x1f3c6;&#x1f4f1;&#x1f4cd;&#x1f37f;&#x1f447;&#x1f402; <a href="https://t.co/lW3dXsdpu8">https://t.co/lW3dXsdpu8</a>
&mdash; Dan Ives (@DivesTech) <a href="https://twitter.com/DivesTech/status/1867289088685912455?ref_src=twsrc%5Etfw">December 12, 2024</a></blockquote>
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See Also: <a href="https://www.benzinga.com/24/12/42476730/peter-thiels-founders-fund-leads-600m-crusoe-investment-betting-big-on-ai-infrastructure">Peter Thiel Says, &#8216;The Biggest Risk With AI Is That We Don&#8217;t Go Big Enough&#8217; As His Founders Fund Leads $600 Million Crusoe Investment</a>
Why It Matters: The bullish outlook extends beyond Apple to the broader technology sector. Ives forecasts the Nasdaq could reach 25,000 by late 2025 or early 2026, driven by accelerating AI adoption across industries.
&#8220;Every dollar spent on an NVIDIA chip has an eight-to-ten multiplier,&#8221; Ives said while highlighting the cascading effects on software companies like Palantir Technologies Inc. and Salesforce Inc.
Current analyst consensus, according to <a href="https://www.benzinga.com/quote/AAPL/analyst-ratings">data from Benzinga Pro</a>, shows strong support for Apple&#8217;s growth trajectory. Based on 31 analyst ratings, Apple has an average price target of $242.26, with Wedbush maintaining the highest target at $300. The three most recent analyst reports from Needham, Wedbush, and Morgan Stanley average $277.67, suggesting a 12.35% upside potential.
<figure class="wp-block-image size-large"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/12215057/Screenshot-2024-12-13-at-8.18.57%E2%80%AFAM-1024x378.png" alt="" class="wp-image-690596" /></figure>
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Image Via Shutterstock 
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Equities

Analyst Ratings

AAPL

Dan Ives Predicts Apple To Ship Record 240 Million iPhones In 2025, Sparking 'Multi-Year Supercycle' As AI Integration Drives Growth

Warren Buffett, CEO of Berkshire Hathaway Inc., has long been revered as one of the most successful investors in history. He currently has a net worth of $143 billion, according to the Bloomberg Billionaire Index, making him number 10 on the list.
The investing legend, who turned 94 in August, once shared that with &#8220;Berkshire we have an unusual number of people as shareholders who just look at Berkshire they look at as their savings account.&#8221;
&#8220;They put some money in 20 or 30 or 40 years ago, we retain it and reinvest for them, but we're their savings account,&#8221; he stated, adding, &#8220;And that&#8217;s the way I look at my own stock&#8221;
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See Also: <a href="https://www.benzinga.com/startups/24/12/42394596/warren-buffett-warns-parents-about-a-common-mistake-you-dont-want-them-asking-why-heres-what-he-means">Warren Buffett Warns Parents About A Common Mistake: &#8216;You Don&#8217;t Want Them Asking Why&#8217; – Here&#8217;s What He Means</a>
For beginners looking to build wealth like these seasoned Berkshire investors, here is what the Oracle of Omaha recommends they do:
Risk Lies In What You Don't Know
Buffett believes risk stems from ignorance. He advises beginners to invest only in opportunities <a href="https://www.benzinga.com/personal-finance/24/05/39088057/warren-buffett-says-he-knows-in-5-minutes-if-an-investment-is-worth-it">they fully understand</a>.
For years, Buffett avoided technology stocks because he didn't know how to value them. It wasn't until 2016 that he invested in Apple. "Never invest in a business you cannot understand," he said once.
When It Rains Gold, Be Ready With Washtubs
Buffett's approach to <a href="https://www.benzinga.com/news/24/05/38628868/warren-buffetts-frugal-lifestyle-hacks-saved-millions-here-are-5-tips-to-follow-suit-in-your-everyda">saving is both frugal</a> and strategic. Known for spending less than $3.17 on breakfast, he is known for saving cash during economic booms to invest aggressively during downturns.
Critics questioned his hoarding of cash during the early 2000s and 2008, but he used those reserves to buy undervalued companies during economic slumps.
&#8220;Every decade or so, dark clouds will fill the economic skies and they will briefly rain gold.&nbsp;When a downpour of that sort occurs, it is imperative that we rush outdoors carrying washtubs and not teaspoons,&#8221; he once said.
Choose Excellence Over Bargains
Buffett learned early in his career that a low price tag doesn't always mean a good deal. He has previously recommended buying high-quality businesses, even at a fair price, over mediocre ones at a discount.
"It is far better to buy a wonderful company at a fair price than a fair company at a wonderful price," he advises.
Don't Gamble With Borrowed Money
The Oracle of Omaha is firmly against using borrowed money to buy stocks, as market volatility can wreak havoc on leveraged portfolios.
Even Berkshire Hathaway, a reliable stock, has suffered significant downturns once every decade. He warns that debt can cloud judgment during market swings, leading to poor decisions.
"It is insane to risk what you have and need in order to obtain what you don't need," Buffett says.
Think Decades, Not Days
Buffett has often underscored the immense power of compounding and the importance of patience in investing. He applies this mindset to the businesses he invests in, evaluating their potential over 20 to 30 years rather than short-term horizons.
He famously once stated, "Time is the friend of the wonderful company, the enemy of the mediocre."
Image via Flickr
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Warren Buffett Said An Unusual Amount Of People Look At Berkshire Stock As A Savings Account, Here Is What The Oracle Of Omaha Recommends Investing Novices Do

In a move that mirrors President-elect Donald Trump&#8217;s cryptocurrency vision, a bill proposing a&nbsp;strategic Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) reserve was&nbsp;put forth in the state of Texas on Thursday.
What Happened: Texas Republican Rep. Giovanni Capriglione introduced the bill, also called the Texas Strategic Bitcoin Reserve Act, which proposed the establishment of a special fund in the state treasury to solely hold Bitcoin as a financial asset.
The bill outlined that all Bitcoins will be stored for a minimum period of five years after which they can be sold, appropriated, or converted to other assets on the directions of a comptroller.
&#8220;The legislature recognizes Bitcoin as a valuable digital asset with strategic potential for enhancing the state's fiscal resilience,&#8221; a section in the proposed legislation read.
The south-central state of Texas is known as the <a href="https://www.benzinga.com/markets/cryptocurrency/23/09/34368164/bitcoin-miners-hit-pause-in-texas-as-energy-crisis-stalls-operations">Bitcoin mining hub of the U.S.</a> and a favored location for mining giants like&nbsp;Riot Platforms and MARA Holdings.
See Also:&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42469414/xrp-poised-for-brief-correction-but-heres-why-it-could-go-to-4">XRP Poised For &#8216;Brief Correction,&#8217; But Here&#8217;s Why It Could Go To $4</a>
Why It Matters: This move aligns with the concept of a strategic Bitcoin reserve gaining steam at the federal level. President-elect Donald Trump <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/12/42434184/a-tech-renaissance-could-offer-enticing-opportunities-in-direxions-qqqu-qqqd-etfs">said</a>, &#8220;We&#8217;re going to do something great with cryptocurrency,&#8221; when queried about the potential of such a fund earlier today.
His Republican colleague Senator&nbsp;Cynthia Lummis&nbsp;(R-Wyo.) has already&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/07/40087880/cynthia-lummis-unveils-strategic-bitcoin-reserve-legislation-this-is-our-louisiana-purchas" target="_blank" rel="noreferrer noopener">introduced a bill</a> at the federal level, that calls for the purchase of&nbsp;one million Bitcoin&nbsp;over five years by the Treasury Department and holding it for at least 20 years.
This development follows&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41986427/pennsylvania-introduces-bitcoin-strategic-reserve-act-to-invest-up-to-700-million-in-btc">Pennsylvania&#8217;s move</a>&nbsp;last month to consider its state-held cryptocurrency reserve. The Pennsylvania Bitcoin Strategic Reserve Act, the first bill of its kind, would authorize the state&#8217;s treasury to invest up to 10% of its $7 billion reserves into Bitcoin.
Price Action:  At the time of writing, Bitcoin was exchanging hands at $99,483.75, down 1.37% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>.
Photo Courtesy: Lucky-photographer On Shutterstock.com
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