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Strategic Resources Inc

STRATEGIC RESOURCES INC by Strategic Resources Inc.

MicroStrategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) executive chairman Michael Saylor's growing Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) bet could unravel and break down the "magic money creation machine," warned an investment expert.
What Happened: Appearing on a recent episode of the All-In Podcast, Gavin Baker, managing partner and chief investment officer of Atreides Management LP warned that Saylor's Bitcoin bets could get "too big for the size" of MicroStrategy.
Baker called out Saylor's strategy of issuing debt and buying Bitcoin. "What he is doing is he is issuing debt and buying Bitcoin with the premise that it is always going to go up."
However, Baker has a word of caution here. "No trees grow to the sky," he said, adding that the interest expenses will keep rising for the company if Saylor keeps at it.
"The underlying business that pays the interest expense on the debt only does $400 million a year.
"Unless debt investors have absolute confidence… it will get to a point where it is too big for the size of his company," said Baker.
If Saylor over-collateralizes Bitcoin, Baker warned that the "magic money creation machine" will break down.
See Also: <a href="https://www.benzinga.com/24/12/42376691/michael-saylor-says-his-bitcoin-strategy-is-simple-just-keep-buying-btc-with-your-spare-capital">Michael Saylor Says His Bitcoin Strategy Is Simple: &#8216;Just Keep Buying BTC With Your Spare Capital&#8217;</a>
Why It Matters: As of Nov. 24, 2024, MicroStrategy held 386,700 Bitcoins at a purchase cost of $21.9 billion, at an average price of $56,761.
MicroStrategy's "approach involves adding Bitcoin to the balance sheet, increasing stock volatility, and using convertible debt to enable low-cost capital raises." said Bernstein's&nbsp;Gautam Chhugani&nbsp;in a&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42160774/microstrategy-is-the-bitcoin-magnet-says-bernstein-but-not-everybodys-sold-nothing-is-free-in-finance-says-one-analyst" target="_blank" rel="noreferrer noopener">recent note</a>.
For context, MicroStrategy's convertible notes do not offer investors any interest – and yet, they are still <a href="https://www.benzinga.com/markets/equities/24/11/42186167/michael-saylors-microstrategy-convertible-notes-to-buy-bitcoin-offer-no-interest-so-why-are-investors-rushing-to-buy-them">rushing to buy them</a> as Bitcoin's bull run continues after Donald Trump's victory.
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Price Action:&nbsp;At the time of writing, Bitcoin was trading at $99,308, up 1.7% in the last 24 hours, according to&nbsp;<a href="https://pro.benzinga.com/dashboard" target="_blank" rel="noreferrer noopener">Benzinga Pro data</a>.
MicroStrategy stock closed at $395.01 on Friday, up 2.2% for the day. Year-to-date, the stock has gained a whopping 476%.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/24/12/42377387/palantir-co-founder-joe-lonsdale-cheers-trumps-new-sec-pick-calls-out-gary-gensler-for-purposely-not-defining-crypto-rules">Palantir Co-Founder Joe Lonsdale Cheers Trump&#8217;s New SEC Pick, Calls Out Gary Gensler For &#8216;Purposely&#8217; Not Defining Crypto Rules</a></li>
</ul>
Photo courtesy: Wikimedia

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

Cryptocurrency

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$BTC

MSTR

MicroStrategy's Michael Saylor Risks Breaking Down The 'Magic Money Creation Machine' With His Growing Bitcoin Bet, Says Expert

Palantir Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>) co-founder Joe Lonsdale cheered President-elect Donald Trump's <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42323248/trump-nominates-paul-atkins-as-sec-chair-emphasizing-digital-assets-as-key-to-making-america-greater">pick to lead</a> the U.S. Securities and Exchange Commission (SEC), Paul Atkins, while calling out Gary Gensler's attitude towards the cryptocurrency industry.
What Happened: Lonsdale welcomed Atkin as Trump's SEC pick in a recent episode of the All-In Podcast, calling him a "smart guy."
"I love Paul. I think he's a fair guy… he's a really smart guy, cares about rules, cares about helping innovators," he said.
Lonsdale had no love lost for Gensler, though. "The thing that really pissed [me] off with Gary… I think you've probably seen like… I think both Coinbase with Brian and the Winklevoss twins [who] put something out… They won't even hire anyone who worked with Gary."
Explaining the anger of Coinbase Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) co-founder and CEO Brian Armstrong and the Winklevoss twins – Cameron and Tyler – towards Gensler, Lonsdale said, "The reason they're that angry at them is they were purposely not defining the rules in certain cases and then going after people after not having defined it in order to play a gotcha game."
"It was very dishonorable, and Paul sees all that and he's not going to allow that," Lonsdale added.
See Also:&nbsp;<a href="https://www.benzinga.com/24/12/42309277/crypto-hodler-awakens-after-11-years-moves-257m-worth-of-bitcoin?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Dormant Bitcoin Whale Awakens After 11 Years, Moves $257M Worth Of BTC</a>
Why It Matters: The crypto industry threw its weight behind the Trump campaign, and his win is being termed as a turnaround of fortunes.
For instance, Bernstein said in a recent report that the regulatory headwinds have now <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41783773/the-future-of-crypto-regulation-under-a-trump-administration-headwinds-are-now-tailwinds">transformed into tailwinds</a> for the crypto industry.
"We expect a new regime of crypto rule-making," the report said.
Armstrong expressed optimism after Trump's victory. "Tonight, the crypto voter has spoken decisively across party lines," he said, adding that he looks forward to working with the new administration to &#8220;clear rules of the road&#8221; for digital assets.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Welcome to the new members of America&#39;s most pro-crypto Congress ever&#8230; 219+ pro-crypto candidates and counting have now been elected to the House &amp; Senate. Tonight the crypto voter has spoken decisively &#8211; across party lines and in key races across the country. Americans… <a href="https://t.co/t91wC3Wtzr">pic.twitter.com/t91wC3Wtzr</a>
&mdash; Brian Armstrong (@brian_armstrong) <a href="https://twitter.com/brian_armstrong/status/1854028856409436226?ref_src=twsrc%5Etfw">November 6, 2024</a></blockquote>
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Trump is <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42220158/donald-trump-to-establish-a-national-bitcoin-reserve-pros-vs-cons-compared">also considering</a> establishing a national Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) reserve, which supporters of the plan <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42122348/trumps-planned-crypto-council-may-oversee-bitcoin-reserve-report">think will help</a> the U.S. pare down its national debt.
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Read Next:
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<li><a href="https://www.benzinga.com/24/12/42376751/smci-stock-surges-9-in-after-market-hours-as-company-gets-extension-to-file-annual-report">SMCI Stock Surges 9% In After-Market Hours As Company Gets Extension To File Annual Report</a></li>
</ul>
Image created via photos on Shutterstock

Government

Regulations

Politics

COIN

PLTR

Palantir Co-Founder Joe Lonsdale Cheers Trump's New SEC Pick, Calls Out Gary Gensler For 'Purposely' Not Defining Crypto Rules

Boeing Co&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) head of government affairs and chief lobbyist Ziad Ojakli is reportedly leaving the planemaker.
What Happened: Ojakli will be replaced by executive Bill McSherrry on an interim basis, Reuters reported on Friday, citing a mail sent by Boeing CEO Kelly Ortberg to employees. Ojakli&#8217;s departure is effective immediately, the email said. 
Ojakli became executive vice president of Government Operations at Boeing in October 2021. Prior to that, he worked with Ford and Softbank and also served as an aide to President George W. Bush.
Boeing did not immediately respond to a <a href="https://pro.benzinga.com/dashboard">Benzinga</a> request for a statement.
Why It Matters: Boeing has been under keen public and regulatory scrutiny since the start of the year when a door plug flew off an Alaska Airlines plane. 
The company&#8217;s shares have fallen by about 39% year-to-date and several key executives have left. 
In November, the company said that its head of quality for commercial airplanes Elizabeth Lund would retire from the company in December. In September, the head of the company&#8217;s space and defense unit Ted Colbert <a href="https://www.benzinga.com/news/24/09/40968235/boeings-space-segment-chief-ted-colbert-quits-amid-mounting-pressure-after-starliner-fails-to-bring">left the company</a>.
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:
<ul>
<li><a href="https://www.benzinga.com/general/space/24/12/42376708/nasa-mission-to-land-humans-on-moon-delayed-artemis-3-now-slated-for-mid-2027">NASA Mission To Land Humans On Moon Delayed: Artemis 3 Now Slated For Mid-2027</a></li>
</ul>
Photo courtesy: Shutterstock

Tech

Boeing Chief Lobbyist Ziad Ojakli Leaves Troubled Planemaker: Report

Tesla Inc. and SpaceX CEO Elon Musk voiced agreement with his rivals, Sam Altman and Jeff Bezos, regarding their views on his relationship with President-elect Donald Trump. 
What Happened: Earlier this week, Bill Gurley, a general partner at venture capital firm Benchmark took to X to say that his favorite part about the New York Times DealBook Summit was Altman and Bezos dismissing such concerns.
On separate occasions, both Altman and Bezos were asked if they feared Musk might exploit his relationship with Trump to gain a competitive edge. Both expressed confidence that Musk would not engage in such behavior.
See Also: <a href="https://www.benzinga.com/tech/24/12/42312508/tesla-ceo-elon-musk-agrees-with-apple-co-founder-steve-jobs-on-guiding-talent-you-know-who-the-best-managers-are?itm_source=parsely-api">Tesla CEO Elon Musk Agrees With Apple Co-Founder Steve Jobs On Guiding Talent: &#8216;You Know Who The Best Managers Are?&#8217;</a>
Responding to Gurley's comment on Friday, Musk said, &#8220;They are right.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">They are right <a href="https://t.co/tBtrixAO8r">https://t.co/tBtrixAO8r</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1865057817826070849?ref_src=twsrc%5Etfw">December 6, 2024</a></blockquote>
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Why It Matters: Musk was appointed by Trump to co-lead the newly formed Department of Government Efficiency alongside Vivek Ramaswamy. DOGE aims to cut federal <a href="https://www.benzinga.com/24/11/42253427/elon-musks-doge-dream-team-from-marc-andreessen-to-ubers-travis-kalanick-silicon-valley-titans-join-forces-to-overhaul-federal-spending">spending by up to $2 trillion</a>, drawing on the expertise of Silicon Valley leaders.
During the summit, Amazon.com Inc. founder <a href="https://www.benzinga.com/media/24/12/42331420/jeff-bezos-optimistic-about-trumps-second-term-wants-to-help-streamline-rules-we-do-have-too-many-regulations-in-this-country">Bezos expressed optimism</a> about the Trump administration&#8217;s potential to reduce regulations, which he believes could foster economic growth.
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.
OpenAI CEO Altman also <a href="https://www.benzinga.com/24/12/42334927/sam-altman-brushes-off-elon-musks-trump-ties-but-admits-xai-is-a-serious-threat-to-openai-i-may-turn-out-to-be-wrong-but">downplayed concerns</a> about Musk&#8217;s political connections, saying, "I believe pretty strongly that Elon will do the right thing."
Musk&#8217;s relationship with Bezos has <a href="https://www.benzinga.com/markets/equities/24/11/42105450/elon-musk-says-amazon-founder-jeff-bezos-urged-tesla-spacex-investors-to-dump-stakes-predicting-trumps-loss">soured further after he alleged</a> that the Amazon founder advised investors to sell their stakes in Tesla, predicting Trump&#8217;s electoral defeat.
Similarly, the Tesla CEO has time and again <a href="https://www.benzinga.com/tech/24/12/42257564/musk-goes-to-court-to-block-openais-for-profit-transition">hurled accusations</a> against Altman and OpenAI, the AI startup he co-founded alongside Altman.
Earlier this month, it was reported that Altman and other tech and business figures who have been targeted by Musk raised alarms about his possible influence on regulation.
Altman reportedly reached out to his contacts within Trump's inner circle, including Jared Kushner, the President-elect&#8217;s son-in-law, and Joshua Kushner, who leads Thrive Capital, an investor in OpenAI.
Check out more of Benzinga's Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech">following this link</a>.
Read Next:
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<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&#8217;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 <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Photos courtesy: Shutterstock

Elon Musk Says His Rivals Sam Altman And Jeff Bezos Are 'Right' About This

Ron Paul, a former U.S. Congressman, has an "easy" suggestion for Tesla Inc. CEO Elon Musk and his Department of Government Efficiency (DOGE) co-lead Vivek Ramaswamy.
What Happened:&nbsp;Paul urged the elimination of foreign aid, highlighting its economic and moral implications.
In a post on X on Saturday, Paul criticized the practice of redirecting funds from American citizens to affluent individuals in poorer nations.
Paul emphasized that foreign aid involves taking money from the U.S. poor and middle class and channeling it to wealthy entities abroad, with intermediaries benefiting in the process. He argued that this practice is not only economically detrimental but also morally questionable and unconstitutional.
"Americans don't want their government to borrow more money to spend on foreign aid," Paul said.
He called it an "immoral transfer of wealth" and termed it "unconstitutional."
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Here's an easy one for <a href="https://twitter.com/DOGE?ref_src=twsrc%5Etfw">@DOGE</a> ! ELIMINATE foreign aid! It's taking money from the poor and middle class in the US and giving it to the rich in poor countries &#8211; with a cut to the facilitators in between! Americans don't want their government to borrow more money to spend on… <a href="https://t.co/hbjfUNGWGW">pic.twitter.com/hbjfUNGWGW</a>
&mdash; Ron Paul (@RonPaul) <a href="https://twitter.com/RonPaul/status/1865137982434415016?ref_src=twsrc%5Etfw">December 6, 2024</a></blockquote>
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Paul&#8217;s comments reflect ongoing debates about the role and impact of foreign aid in U.S. policy, as well as its alignment with constitutional principles. His stance adds to the discourse on how the U.S. should manage its financial resources and international responsibilities.
See Also:&nbsp;<a href="https://www.benzinga.com/general/entertainment/24/12/42351922/trump-predicted-taylor-swift-sales-would-drop-target-data-shows-over-800k-sold?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Said Taylor Swift Would ‘Pay A Price' At Marketplace For Harris Endorsement</a>
Why It Matters: The call for ending foreign aid by&nbsp;Ron Paul&nbsp;comes at a time when the U.S. is grappling with significant budgetary challenges.
The newly formed <a href="https://www.benzinga.com/24/11/42131911/donald-trump-appointed-doge-to-have-marginal-impact-saving-50-100-billion-says-analyst-as-elon-musk-aims-to-target-500-billion-plus-in-federal-expenditures">Department of Government Efficiency (DOGE)</a>, led by Musk and Ramaswamy, aims to cut federal spending by up to $2 trillion. However, experts predict only marginal savings, estimated between $50–100 billion annually, against a federal budget deficit projected to reach $1.7 trillion in 2024.
<a href="https://www.benzinga.com/news/24/11/41698615/elon-musk-says-would-be-great-to-have-former-congressman-and-fed-critic-ron-paul-in-department-of-go">Musk</a>&nbsp;has expressed interest in having Paul join the DOGE team, highlighting his potential role in shaping fiscal policies.
The initiative, part of President-elect&nbsp;Donald Trump&#8216;s agenda, underscores the ongoing debate over federal spending and the prioritization of domestic versus international financial commitments.
Read Next:
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<li><a href="https://www.benzinga.com/general/entertainment/24/12/42329351/musk-ready-to-ban-daylight-saving-time-with-d-o-g-e-looks-like-the-people-want-to-abolish-the-annoying-time-changes?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Musk Ready To Ban Daylight Saving Time With D.O.G.E.: &#8216;Looks Like The People Want To Abolish The Annoying Time Changes!'</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photos courtesy: Shutterstock and Gage Skidmore on Flickr

General

Ron Paul Wants Elon Musk, Vivek Ramaswamy-Led DOGE To Eliminate This Program Of 'Immoral Transfer Of Wealth'

President-elect Donald Trump&#8216;s transition team is reportedly considering canceling the U.S. Postal Service&#8217;s (USPS) contracts aimed at electrifying its delivery fleet.
What Happened: The move could be unveiled in the starting days of Trump&#8217;s new administration, Reuters reported, citing multiple sources familiar with the matter. 
The transition team is reviewing how it can undo the postal service&#8217;s multiple, expensive contracts including with Ford Motor Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) and Oshkosh (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OSK#NYSE">OSK</a>) for battery electric delivery trucks, the report said. Breaking the contracts would be legally challenging, Reuters noted, given the federal agency has its governing board.
Benzinga has reached out to USPS, Ford, and Oshkosh for comment but is yet to receive a response. 
Why It Matters: The U.S. Congress gave the USPS $3 billion in 2023 to buy EVs and charging infrastructure. The federal agency is planning to buy around <a href="https://www.benzinga.com/news/24/01/36752397/ford-electric-delivery-vehicles-siemens-charging-stations-shown-off-by-usps">66,000 electric vehicles by 2028. </a>
Trump, during his election campaign, had said that he would roll back the Biden administration&#8217;s push towards electrification. 
Reuters previously reported that his transition team is also planning to <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41988194/trump-plans-to-erase-ev-tax-credit-analyst-says-its-net-bullish-calls-sell-off-wrong-knee-jerk-reaction">kill $7500 in consumer tax credit </a>on the purchase of electric vehicles. 
Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>
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<li><a href="https://www.benzinga.com/tech/24/12/42361181/more-than-tesla-rivian-customers-are-most-likely-to-return-to-the-brand-survey-shows" target="_blank" rel="noreferrer noopener">More Than Tesla, Rivian Customers Are Most Likely To Return To The Brand, Survey Shows</a></li>
</ul>
Photo courtesy: USPS

Trump's Transition Team Considering Undoing USPS's Contracts With Ford, Oshkosh For Electrifying Fleet: Report

The Future Fund LLC Managing Partner and Tesla (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) bull Gary Black said on Friday that the EV company&#8217;s earnings per share (EPS) revisions have not kept pace with the stock price surge since Donald Trump&#8217;s victory in the Presidential elections.
What Happened: &#8220;We know that $TSLA is up +51% YTD (vs NDX +28%), all of which is since the Nov election (TSLA +50% vs NDX +7%) on the belief that ally Trump can streamline TSLA's efforts to secure autonomous deployment licenses. The question is: Have TSLA Adj EPS ests increased as well? The short answer is not much,&#8221; Black said on Friday. 
Black noted that Tesla&#8217;s FY2025 adjusted EPS estimates are up by only 1.6% since the election. 
&#8220;Put differently, all of TSLA's +50% price appreciation since the election reflects P/E expansion, which on FY'25 eps ests have increased from 77x before the election to 114x today (+48%),&#8221; he said while adding that he continues to be &#8220;<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41870590/tesla-remains-core-for-gary-black-despite-price-cuts-earnings-drop-nvidia-google-eli-lilly-among-top-performers-in-tech-bulls-portfolio">very bullish</a>&#8221; on the stock. 
However, Black also said that he is &#8220;cautious&#8221; as he believes multiple expansions should reflect an acceleration in earnings growth. The expansion, he said, could come next year if Tesla gets robotaxi deployment permits from Texas and California or if other automakers attempt to license the company&#8217;s full self-driving driver assistance software. 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">As a fundamentals-based analyst, I generally don't look at price charts, but two I look at are TSLA's P/E trend on a forward one-year basis, and TSLA Adj EPS est on both near-term FY'25 and longer-term FY'29 ests. We know that <a href="https://twitter.com/search?q=%24TSLA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TSLA</a> is up +51% YTD (vs NDX +28%), all of which is… <a href="https://t.co/fqH4ky4jwn">pic.twitter.com/fqH4ky4jwn</a>
&mdash; Gary Black (@garyblack00) <a href="https://twitter.com/garyblack00/status/1865124954574110801?ref_src=twsrc%5Etfw">December 6, 2024</a></blockquote>
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Why It Matters: Overall, analysts have a consensus rating of "Buy" on the Tesla stock, with the highest price target being $411. The <a href="https://www.benzinga.com/24/12/42358854/multiple-analysts-hike-price-target-on-tesla-days-after-bear-turned-bullish">most recent analyst ratings by</a> Guggenheim, BofA Securities, and Roth MKM have an average price target of $318.33, implying an 18% downside.
Tesla shares closed up 5.3% at $389.22 on Friday. The stock is up by nearly 57% year-to-date, taking its market capitalization over $1 trillion, according to data from <a href="https://pro.benzinga.com/dashboard" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/quote/tsla/analyst-ratings"><img loading="lazy" decoding="async" width="473" height="354" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/06043838/Tesla-stock-ratings.jpg" alt="" class="wp-image-680218" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/06043838/Tesla-stock-ratings.jpg 473w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/06043838/Tesla-stock-ratings-300x225.jpg 300w" sizes="(max-width: 473px) 100vw, 473px" /></a></figure>
Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>
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</ul>
Photo courtesy: Tesla

Analyst Color

Analyst Ratings

TSLA

TSLA Stock Rally Since Trump Win Has This Analyst 'Cautious' About EV Giant's Prospects Even As He Maintains 'Very Bullish' Outlook: Here's Why

Mark Zuckerberg-led Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) has introduced Llama 3.3 70B, a new AI model that outperforms competitors like Alphabet Inc.'s (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>) Google, OpenAI, and Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>).
What Happened: Announced on Friday, the model offers the performance of Meta&#8217;s largest Llama model, Llama 3.1 405B, but at a reduced cost.
According to Ahmad Al-Dahle, Meta&#8217;s VP of generative AI, Llama 3.3 70B leverages advanced post-training techniques to enhance core performance efficiently.
Taking to X, formerly Twitter, he shared a chart demonstrating the model&#8217;s superiority over Google&#8217;s Gemini 1.5 Pro, OpenAI&#8217;s GPT-4o, and Amazon&#8217;s Nova Pro on various benchmarks, including MMLU.
See Also: <a href="https://www.benzinga.com/media/24/12/42356920/amazon-halts-inferentia-ai-chip-development-to-take-on-nvidia-how-trainium-is-shaping-up-to-be-the-new-weapon-in-ai-chip-wars?itm_source=parsely-api">Amazon Halts Inferentia AI Chip Development To Take On Nvidia: How Trainium Is Shaping Up To Be The New Weapon In AI Chip Wars</a>
The model is available for download on platforms like Hugging Face and the official Llama website.
<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">Introducing Llama 3.3 – a new 70B model that delivers the performance of our 405B model but is easier &amp; more cost-efficient to run. By leveraging the latest advancements in post-training techniques including online preference optimization, this model improves core performance at… <a href="https://t.co/6oQ7b3Yuzc">pic.twitter.com/6oQ7b3Yuzc</a>
&mdash; Ahmad Al-Dahle (@Ahmad_Al_Dahle) <a href="https://twitter.com/Ahmad_Al_Dahle/status/1865071436630778109?ref_src=twsrc%5Etfw">December 6, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
In a post on Threads, Zuckerberg noted that Meta AI, powered by Llama models, now has nearly 600 million monthly active users. The company is also building a $10 billion AI data center in Louisiana to support future Llama models.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
<figure class="wp-block-image size-large"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/07005002/Screenshot-2024-12-07-at-11.19.52%E2%80%AFAM-1024x372.png" alt="" class="wp-image-681613" /><figcaption class="wp-element-caption">Source: Threads</figcaption></figure>
Why It Matters: Earlier in October it was reported that Meta plans to develop an <a href="https://www.benzinga.com/news/24/10/41582881/meta-platforms-is-building-ai-powered-search-engine-to-slash-reliance-on-alphabets-google-microsoft">AI-powered search engine</a> to reduce its dependence on major tech players like Alphabet and Microsoft Corporation.
Meta has also made a <a href="https://www.benzinga.com/tech/24/12/42321266/meta-joins-big-techs-shift-to-nuclear-power-for-ai-ambitions">shift toward nuclear power</a> to support its AI ambitions. The company is seeking proposals for nuclear energy projects to power its AI initiatives, aiming for 1-4 gigawatts of new nuclear generation capacity in the U.S. by the early 2030s.
In 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 earnings report</a>, Meta reported a revenue beat of $40.59 billion, surpassing analyst expectations. The company also highlighted the strong momentum in AI.
Price Action: Meta&#8217;s stock rose 2.44% on Friday to close at $623.77 but dipped slightly by 0.08% in after-hours trading. So far this year, Meta shares have surged 80.13%, far outpacing the Nasdaq 100 index's 30.7% gain during the same timeframe, according to <a href="http://pro.benzinga.com/">Benzinga Pro data</a>.
The consensus price target for Meta, based on evaluations from 41 analysts, stands at $639.05, with Rosenblatt setting the highest target at $811 on Oct. 31. Latest ratings from Raymond James, Wells Fargo, and Citigroup average $673.67, pointing to a potential upside of 8%.
<figure class="wp-block-image size-large"><a href="https://www.benzinga.com/quote/META/analyst-ratings"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/07005118/Screenshot-2024-12-07-at-11.21.14%E2%80%AFAM-1024x378.png" alt="" class="wp-image-681618" /></a></figure>
Check out more of Benzinga'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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</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

AMZN

GOOG

GOOGL

Meta Announces Llama 3.3 70B That Outperforms OpenAI's GPT-4o, Google's Gemini, and Amazon's AI Models

Super Micro Computer Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>) stock surged nearly 9% in after-market hours trading after the company received an extension from&nbsp;Nasdaq to file its overdue annual and quarterly reports by Feb. 25.
What Happened: The AI server manufacturer, known for its advanced liquid cooling technology, has been under scrutiny since August when it delayed its annual report filing, citing the need to evaluate internal controls over financial reporting.
This delay came shortly after&nbsp;Hindenburg Research&nbsp;<a href="https://www.benzinga.com/trading-ideas/short-ideas/24/08/40579899/super-micro-computer-stock-falls-on-short-report-hindenburg-says-company-has-accounting">disclosed a short position</a>, alleging accounting and governance issues.
Last month,&nbsp;Super Micro&nbsp;appointed&nbsp;BDO USA&nbsp;as its new&nbsp;auditor and submitted a compliance&nbsp;plan to Nasdaq to address the listing threat. The company aims to complete all necessary filings by the extended deadline to maintain its Nasdaq listing.
Additionally,&nbsp;Super Micro&nbsp;has launched&nbsp;a search for a new&nbsp;finance chief, following recommendations from a special committee investigating its accounting practices.
See Also:&nbsp;<a href="https://www.benzinga.com/24/12/42309277/crypto-hodler-awakens-after-11-years-moves-257m-worth-of-bitcoin?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Dormant Bitcoin Whale Awakens After 11 Years, Moves $257M Worth Of BTC</a>
Why It Matters: The extension granted by Nasdaq is a crucial step for&nbsp;Super Micro&nbsp;as it navigates through a challenging period marked by auditor resignations and allegations of misconduct.
In October, the company&#8217;s independent auditor,&nbsp;Ernst &amp; Young, <a href="https://www.benzinga.com/trading-ideas/movers/24/10/41625460/super-micro-computer-stock-dives-as-auditor-resigns-whats-going-on">resigned over governance and transparency concerns</a>, causing a significant drop in stock value. This resignation prompted the formation of an independent special committee to <a href="https://www.benzinga.com/trading-ideas/movers/24/12/42268387/super-micro-computer-stock-is-surging-today-whats-behind-the-move">review the allegations</a>.
In early December, the committee concluded its review, <a href="https://www.benzinga.com/24/12/42284776/super-micro-shares-rise-over-7-in-premarket-after-independent-special-committee-found-no-evidence-of-misconduct-but-top-investment-bank-flags-two-key-points-to-watch">finding no evidence of misconduct</a> by the company&#8217;s management or board. This finding led to a substantial increase in&nbsp;Super Micro&#8217;s stock price, with shares jumping over 30% following the announcement. Despite these positive developments, analysts from&nbsp;JPMorgan&nbsp;have advised investors to monitor the acceptance of the committee&#8217;s findings by the newly appointed auditors,&nbsp;BDO.
The ongoing demand for&nbsp;Super Micro&#8217;s AI servers, particularly in the artificial intelligence sector, underscores the importance of resolving these issues swiftly.
Price Action: SMCI stock closed at $43.93 on Friday, up 6.8% for the day. In after-market hours, it surged by 8.9%. Year-to-date, SMCI stock is up 54%, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Furthermore, Benzinga Pro data shows analysts have a consensus "Buy" rating on the SMCI stock. Based on the three most recent analyst ratings from Goldman Sachs, JP Morgan, and Wedbush, the average price target of $27.67 implies a downside of 37%.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/quote/SMCI/analyst-ratings"><img loading="lazy" decoding="async" width="941" height="353" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/07000918/SMCI-ratings.jpg" alt="" class="wp-image-681596" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/07000918/SMCI-ratings.jpg 941w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/07000918/SMCI-ratings-300x113.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/07000918/SMCI-ratings-768x288.jpg 768w" sizes="(max-width: 941px) 100vw, 941px" /></a></figure>
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<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">Elon Musk&#8217;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>
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Wikimedia

Equities

SMCI

SMCI Stock Surges 9% In After-Market Hours As Company Gets Extension To File Annual Report

NASA on Thursday postponed its upcoming two <a href="https://www.benzinga.com/news/24/08/40599693/elon-musk-reacts-after-nasa-oig-says-launcher-for-artemis-4-mission-may-cost-2-7b-holy">Artemis missions</a>, including the one expected to land humans back on the surface of the Moon for the first time in over half a century.
What Happened: While the Artemis 2 mission is now slated for April 2026, Artemis 3 is slated for mid-2027. Previously, the agency was planning to undertake the Artemis 2 mission in Sept. 2025 and Artemis 3 in 2026.
During the Artemis 1 mission in late 2022, charred material on the heat shield wore away differently than expected during re-entry. However, unlike Artemis 1, Artemis 2 mission will have a crew on board. The delayed timeline will allow the agency to address the Orion spacecraft&#8217;s environmental control and life support systems, NASA said. 
"The Artemis campaign is the most daring, technically challenging, collaborative, international endeavor humanity has ever set out to do," said NASA Administrator Bill Nelson.&nbsp;&#8220;We need to get this next test flight right. That's how the Artemis campaign succeeds."
For Artemis 2, engineers will continue to prepare the Orion spacecraft with the heat shield attached to the capsule. However, the agency will make changes to Orion&#8217;s trajectory as it enters Earth&#8217;s atmosphere and subsequently splashes down in the Pacific Ocean.
Why It Matters: NASA astronauts Reid Wiseman, Victor Glover, Christina Koch, and Canadian Space Agency (CSA) astronaut Jeremy Hansen will continue training for the 10-day Artemis 2 mission in the meantime. They will fly around the Moon and back. 
Artemis 3 will build on Artemis 2 and aims to land people on the surface of the Moon with a <a href="https://www.benzinga.com/general/space/24/11/42108681/spacex-shows-off-starship-concept-designed-to-help-humans-land-back-on-moon-in-over-50-years">human landing system version of SpaceX&#8217;s Starship</a>. 
The Artemis program is the U.S.&#8217;s campaign to return to the surface of the Moon after a long gap of over 50 years. The last time NASA landed humans on the Moon was in 1972 as part of the Apollo Program.
The program is also expected to build the foundation for crewed missions to Earth&#8217;s neighboring planet Mars. 
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>
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Photo courtesy: Shutterstock

SPACE

NASA Mission To Land Humans On Moon Delayed: Artemis 3 Now Slated For Mid-2027

Bitcoin's (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) value has reached an unprecedented milestone, crossing the $100,000 mark. This has prompted Michael Saylor, executive chairman of MicroStrategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>), to reiterate his bullish stance on the cryptocurrency.
What Happened:&nbsp;Saylor emphasized the simplicity of investing in Bitcoin, discussing the cryptocurrency&#8217;s ascent and MicroStrategy&#8217;s ongoing investment strategy in an interview <a href="https://finance.yahoo.com/video/microstrategy-chairman-says-bitcoin-simple-212018091.html">with</a> Yahoo Finance.
Saylor stated,&nbsp;&#8220;Every day for the past&nbsp;four years, I&#8217;ve said buy&nbsp;Bitcoin, don&#8217;t sell the Bitcoin.&#8221;
He explained his straightforward approach, &#8220;Just&nbsp;keep Buying Bitcoin with your&nbsp;spare capital. It&#8217;s going to&nbsp;appreciate against the dollar forever.&#8221;
He advised considering Bitcoin as a long-term asset, suggesting that investors should average their Bitcoin purchase price quarterly.
Saylor believes Bitcoin should be part of a long-term portfolio, recommending that funds not needed for four to ten years be invested in the cryptocurrency. He noted that MicroStrategy has generated significant shareholder value by holding Bitcoin, asserting that understanding the applications is unnecessary to benefit from its potential.
See Also:&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42330146/congressman-buys-meme-coins-ski-mask-dog-coin-climbs-in-value-after-disclosure-i-liked-the-coins-so-i-bought-them?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Congressman Buys Meme Coins? Ski Mask Dog Coin Climbs In Value After Disclosure</a>
Why It Matters: The recent surge in Bitcoin&#8217;s value to $100,000 marks a pivotal moment for the cryptocurrency market. On December 4,&nbsp;<a href="https://www.benzinga.com/24/12/42331261/bitcoin-hits-historic-100000-milestone-michael-saylor-gets-ready-for-party">Bitcoin crossed the $100,000 barrier</a>, a milestone that was celebrated by the cryptocurrency community.&nbsp;Saylor even suggested a celebratory event to mark this achievement.
He has also been vocal about Bitcoin&#8217;s potential as a &#8220;global capital.&#8221; In a&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42345293/bitcoin-is-global-capital-says-michael-saylor-every-nation-that-respects-property-rights-is-going-to-support-btc">recent interview</a>, he predicted that Bitcoin could reach $13 million per coin by 2045, emphasizing its transformative impact on global wealth storage and transfer.
Earlier, Saylor had also pitched Bitcoin&#8217;s <a href="https://www.benzinga.com/markets/cryptocurrency/24/12/42259408/michael-saylor-says-bitcoin-could-boost-microsofts-valuation-by-nearly-5-trillion-and-add-584-to-the-stock-by-2034">potential to boost</a>&nbsp;Microsoft Corp.'s valuation by nearly $5 trillion, highlighting its status as a high-performing uncorrelated asset.
Price Action: At the time of writing, Bitcoin was trading at $99,308, up 1.7% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.
MicroStrategy stock closed at $395.01 on Friday, up 2.2% for the day. Year-to-date, the stock has gained a whopping 476%.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Michael Saylor / MicroStrategy

Michael Saylor Says His Bitcoin Strategy Is Simple: 'Just Keep Buying BTC With Your Spare Capital'

Elon Musk&#8216;s rocket manufacturing company SpaceX is now gearing up for yet another test flight of its <a href="https://www.benzinga.com/topic/starship">Starship launch vehicle</a>, possibly before the end of the year.
What Happened: The company has moved the booster of the Starship launch vehicle to the launch pad at Starbase for testing ahead of its upcoming flight, the company said in a post on X on Friday. The post was accompanied by a picture of the 232-foot-tall booster. 
The company, however, did not specify when the next flight would be. 
<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">Flight 7 Super Heavy booster moved to the pad at Starbase for testing <a href="https://t.co/IOnSMTjrTk">pic.twitter.com/IOnSMTjrTk</a>
&mdash; SpaceX (@SpaceX) <a href="https://twitter.com/SpaceX/status/1865170524852093159?ref_src=twsrc%5Etfw">December 6, 2024</a></blockquote>
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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: The Starship vehicle is part of big dreams. While NASA is looking forward to taking humans back to 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 <a href="https://www.benzinga.com/news/24/09/40770222/elon-musk-sets-2026-for-starships-first-uncrewed-mars-mission-targeting-successful-landing">humans to the planet Mars</a> 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.
SpaceX is a privately held company. Unlike Musk&#8217;s publicly held EV company Tesla, SpaceX&nbsp;<a href="https://www.benzinga.com/24/11/42022150/spacex-to-launch-tender-offer-valuing-company-at-over-250-billion-report" target="_blank" rel="noreferrer noopener">does not divulge its financials</a>&nbsp;periodically. 
&#8220;We are going to make some money on Starlink this year. But ultimately I think Starship will be the thing that takes us over the top as one of the most valuable companies,&#8221; Shotwell previously said.
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," Musk previously said. 
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>
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Photo courtesy: SpaceX

SpaceX Tests Starship Booster Ahead Of Next Flight: Will The 7th Test Happen Before End Of 2024?

Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) is reportedly working on its modem technology. This could result in slimmer iPhones and introduce cellular capabilities to Macs and headsets like Vision Pro.
What Happened: Apple is developing a new modem, internally named Sinope, which is set to debut next year, <a href="https://www.bloomberg.com/news/articles/2024-12-06/apple-s-modem-chips-pave-way-for-slimmer-iphone-cellular-macs-and-headsets?srnd=undefined">reported</a> Bloomberg, citing people familiar with the matter.
This modem will gradually replace components from Qualcomm Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>) over three years.
Apple engineers have expressed concerns about Qualcomm&#8217;s modems taking up too much space in iPhones, the report noted.
See Also:&nbsp;<a href="https://www.benzinga.com/24/12/42295863/apple-might-have-to-commit-1-billion-to-indonesia-to-reverse-iphone-16-ban">Apple Might Have To Commit $1 Billion To Indonesia To Reverse iPhone 16 Ban</a>
The first device to feature the new modem will be the iPhone SE, launching next year. It will be followed by Apple&#8217;s thinnest phone yet, codenamed D23, later in 2025.
This transition paves the way for Apple to explore foldable devices and introduce cellular connectivity to Macs by 2026. As per the report, Apple is also considering adding cellular support to headsets.
The first modem will also appear in low-end iPads next year, with a 2026 update planned for Pro versions of the iPhone and iPad.
The tech giant is not currently developing a modem for the Apple Watch.
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: It was previously reported that Apple has plans to <a href="https://www.benzinga.com/markets/24/12/42286671/apples-foldable-iphone-could-spark-smartphone-market-revival-in-2026-says-expert">launch a foldable iPhone</a> in 2026. This move could boost the market, with a projected growth of over 30% in 2026, according to display analyst Ross Young.
However, Chinese tech giant Huawei Technologies Co. has also <a href="https://www.benzinga.com/news/24/09/40845772/huaweis-2-800-tri-fold-phone-has-the-potential-to-eat-apples-lunch-in-china-here-is-how-it-compares">intensified its efforts</a> to challenge Apple's dominance, making the competition even tougher for the iPhone maker.
Last month, Apple reported its <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 earnings</a> highlighting the revenue of $94.9 billion, surpassing analyst estimates.
Price Action: Apple's stock declined 0.082% on Friday, closing at $242.84, and fell an additional 0.22% in after-hours trading to $242.30. Year-to-date, Apple shares have gained 30.81%, slightly ahead of the Nasdaq 100 index&#8217;s 30.7% rise during the same period, according to <a href="http://pro.benzinga.com/">Benzinga Pro data</a>.
Apple's consensus price target, derived from evaluations by 31 analysts, is $242.26, with the highest target of $300 set by Wedbush on Nov. 29. Recent ratings from Wedbush, Morgan Stanley, and Maxim Group average $262.67, suggesting a potential upside of 8.4%.
Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:
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<li><a href="https://www.benzinga.com/24/12/42356192/tim-cook-breaks-silence-on-defying-steve-jobs-design-philosophy-with-the-iphone-16s-camera-button-vision-pro-sales-airpods-disrupting-hearing-aids-and-whether-hell-lead-apple-into-the-next-era">Tim Cook Explains Why Apple Defied Steve Jobs&#8217; Design Philosophy With the iPhone 16&#8217;s Camera Button, Touches On Retirement Plans: &#8216;I&#8217;ll Do It Until…&#8217;</a></li>
</ul>
Photo courtesy: Shutterstock

Media

AAPL

QCOM

Apple Working On In-House Modems To Replace Qualcomm, Will Slim Down iPhones Further And Bring Cellular Connectivity To Macs: Report

EV giant Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) will rely on pre-assembled superchargers in the Nordic countries including Norway to keep up the pace of deployment in the <a href="https://www.benzinga.com/news/24/01/36732243/how-to-optimally-charge-tesla-in-freezing-weather-youtuber-shows-right-way-amid-chicagos-cold-snap">freezing temperatures</a>, senior company executive Max de Zegher said on Thursday.
What Happened: De Zegher was responding to an X user who noted that Tesla had opened two of the latest versions of superchargers in Norway in a day.
&#8220;And pre-assembled Superchargers, which we'll see more of in the Nordics. Another benefit from going with pre-assembled Superchargers is that we can keep building even in freezing temperatures,&#8221; the director of charging replied. 
<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">And pre-assembled Superchargers, which we'll see more of in the Nordics. Another benefit from going with pre-assembled Superchargers is that we can keep building even in freezing temperatures.
&mdash; Max de Zegher (@MdeZegher) <a href="https://twitter.com/MdeZegher/status/1864801494475956578?ref_src=twsrc%5Etfw">December 5, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Last month, Tesla updated its phone app to allow customers <a href="https://www.benzinga.com/24/11/42105055/tesla-app-allows-users-to-report-issues-on-snow-accumulation-insufficient-lighting-at-charging-locations-with-new-update-ahead-of-winter">to report issues</a> including trash and snow accumulation at&nbsp;<a href="https://benzinga.com/topic/tesla-supercharger" target="_blank" rel="noreferrer noopener">charging locations</a>. Customers can share issues ranging from access, cleanliness, insufficient lighting, and damage in the form of cracked post skins with the update.
Why It Matters: As of the end of the third quarter, Tesla had 6,706 supercharger stations around the globe and 62,421 connectors.
During Tesla's annual shareholder meeting in June, Tesla CEO&nbsp;Elon Musk&nbsp;slammed rumors of the&nbsp;<a href="https://www.benzinga.com/news/24/05/38757383/elon-musk-announces-500m-investment-in-teslas-supercharger-network-expansion-in-2024" target="_blank" rel="noreferrer noopener">death of its supercharger network&nbsp;</a>following a&nbsp;<a href="https://www.benzinga.com/news/24/10/41200538/tesla-supercharger-network-growth-slows-sequentially-ev-giant-adds-2-800-stalls-in-q3" target="_blank" rel="noreferrer noopener">major layoff in April&nbsp;</a>as "greatly exaggerated." Musk then said that Tesla would invest $500 million in expanding the network this year.
Tesla's company-wide layoffs in April impacted&nbsp;<a href="https://www.benzinga.com/news/24/05/38846223/elon-musk-fired-supercharger-chief-rebecca-tinucci-and-her-entire-team-after-she-refused-to-lay-off" target="_blank" rel="noreferrer noopener">500 members of the supercharging team</a>&nbsp;and&nbsp;Rebecca Tinucci, Tesla's then Senior Director of Charging Infrastructure, left the company.
Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>
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</ul>
Photo courtesy: Tesla

Tesla To Rely On Pre-Assembled Superchargers To Keep Up Deployment In Nordic Winters, Says Exec

HUIZ

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

Golden Minerals Company ("Golden Minerals," "Golden" or the "Company") (TSX:<a class="ticker" href="https://www.benzinga.com/stock/AUMN#TSX">AUMN</a>) today announced that it has received notification from the NYSE American LLC (the "NYSE American" or the "Exchange") that the Exchange determined to commence proceedings to suspend and delist the Company's common stock as a result of its determination that the Company is no longer suitable for listing due to its non-compliance with Sections 1003(a)(i), 1003(a)(ii) and 1003(a)(iii) of the NYSE American Company Guide, which require the Company to report stockholders' equity of $6.0 million or more if the Company has reported losses from continuing operations and/or net losses in its five most recent fiscal years, as previously reported.
The Company anticipates that the Common Stock will begin trading on the OTC Pink Market under the symbol "AUMN" at the open of business on December 16, 2024. Shareholders do not need to take any action in connection with this transition. The Company's stock will continue to be traded first on the NYSE American and immediately thereafter on the OTC Pink Market, and investors should be able to trade shares through their existing brokerage accounts.

AUMN

TSX:AUMN

Golden Minerals Announces NYSE American Notice To Commence Delisting

Tenaris S.A. announced that the Brazilian Superior Court of Justice (SCJ) published today its unanimous&nbsp;decision to reject a motion of clarification filed by Tenaris's subsidiary Confab, together with Ternium's subsidiaries Ternium Investments and Ternium Argentina (all of which compose the T/T Group under the Usiminas shareholders agreement), that had sought to revert the June 18, 2024 SCJ decision ordering the T/T Group to pay Companhia Siderúrgica Nacional, or CSN, an indemnification in connection with their 2012 acquisition of a participation in Usiminas.
Notwithstanding the foregoing, the SCJ unanimously resolved to modify the applicable monetary adjustment mechanism and to cap the applicable attorney's fees, thereby lowering the aggregate amount that would be payable by the T/T Group if CSN ultimately prevails in its claims. Assuming monetary adjustment through November 30, 2024, and BRL 5 million in attorney's fees, in each case as determined pursuant to the SCJ decision published today, the revised aggregate amount potentially payable by Confab would be of approximately BRL548 million (approximately $90 million).
Tenaris continues to believe that all of CSN's claims and allegations are unsupported&nbsp;and without merit, and that in connection with the Usiminas acquisition the T/T Group was not required either to launch a tender offer or to pay indemnification to CSN. Accordingly, Confab intends to continue to defend its rights vigorously and to file all available motions and appeals against the SCJ decisions that ordered an indemnification payment.

Legal

Tenaris Announces Brazilian Superior Court Rejects Motion To Reverse Ruling Ordering T/T Group To Pay CSN Indemnification Related To 2012 Usiminas Acquisition, Lowers Potential Liability To ~$90M; Tenaris Maintains Claims Are Without Merit And Will Continue To Vigorously Defend Against SCJ Decisions

Athira Pharma, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ATHA#NASDAQ">ATHA</a>), a clinical-stage biopharmaceutical company focused on developing small molecules to restore neuronal health and slow neurodegeneration, today presented preclinical data highlighting target engagement and neuroprotective effects of ATH-1105 in human motor neurons at the Motor Neurone Disease Association's 35th International Symposium on ALS/MND, taking place Dec. 6-8, 2024, in Montreal, Canada.

Biotech

ATHA

Athira Pharma Presents Preclinical Data Highlighting Neuroprotective Effects Of ATH-1105 In Models Of ALS At Motor Neurone Disease Association's International Symposium On ALS/MND

<a href="https://www.spglobal.com/spdji/en/documents/indexnews/announcements/20241206-1475790/1475790_dec2024apowday.pdf" title="https://www.spglobal.com/spdji/en/documents/indexnews/announcements/20241206-1475790/1475790_dec2024apowday.pdf">https://www.spglobal.com/spdji/en/documents/indexnews/announcements/20241206-1475790/1475790_dec2024apowday.pdf</a>

RGNX

TRNO

Terreno Realty Corp. And Champion Homes Inc. Will Replace Hudson Pacific Properties Inc. And REGENXBIO  Inc. In The S&P SmallCap 600, Respectively

Gov. <a href="https://www.benzinga.com/topic/andy-beshear">Andy Beshear</a>&#8216;s administration has refused to release the names of applicants for medical marijuana dispensary licenses in Kentucky's nine regions, despite <a href="https://www.benzinga.com/24/11/42203777/kentucky-awards-first-medical-cannabis-dispensary-licenses">announcing the winners last month. </a>
The Cabinet for Health and Family Services and the Office of Medical Cannabis denied a public records request from Kentucky Public Radio, citing the records as &#8220;preliminary&#8221; and exempt from disclosure, as<a href="https://www.lpm.org/news/2024-12-06/beshear-administration-wont-disclose-medical-marijuana-dispensary-applicants"> reported</a> by Louisville Public Media.
See Also: <a href="https://www.benzinga.com/general/health-care/24/11/41843261/kentucky-gov-beshear-the-jury-is-no-longer-out-kentuckians-want-medical-cannabis">Kentucky Gov. Beshear: &#8216;The Jury Is No Longer Out,&#8217; Kentuckians Want Medical Cannabis</a>
They stated that the list of applicants will remain confidential until after the final lottery for the last two regions on Dec. 16.
<h3 class="wp-block-heading">Concerns Over Fairness And Transparency</h3>
The decision follows concerns about out-of-state companies dominating Kentucky's marijuana licensing process.
One of the companies, Arkansas-based Dark Horse Cannabis, submitted over 100 applications in Kentucky and won multiple licenses in the October lottery, including four dispensary licenses in the November drawing.
While the state released the names of 36 dispensary license winners from the first nine regions, the full list of <a href="https://www.benzinga.com/markets/cannabis/24/10/41413763/huge-interest-in-medical-cannabis-licenses-in-kentucky-nearly-5-000-applications-fees-announced">over 2,800 applicants </a>remains concealed. 
Critics worry that out-of-state companies are gaining a disproportionate share of licenses, which raises questions about fairness and transparency in the process.
<h3 class="wp-block-heading">Legal Challenge To Denial</h3>
Kentucky Public Radio's request for the full list of applicants was denied, and the station has now appealed the decision to the state's Office of the Attorney General. 
Michael Abate, an attorney representing Kentucky Public Radio and the Kentucky Press Association, criticized the administration's actions, saying the denial "makes absolutely no sense." 
He asked: "Why are they trying to delay disclosure until after all the lotteries are done? It suggests the cabinet just doesn&#8217;t want any scrutiny on its process. But obviously, this is an important process and the public has a right to know what&#8217;s going on."
<h3 class="wp-block-heading">Complaints From Local Farmers</h3>
Local hemp farmers, shut out of the October lottery for cultivator licenses, are frustrated with the process.
They argue that large out-of-state companies are gaining an unfair advantage and pushing in-state applicants aside. Gov. Beshear, however, has dismissed these concerns. He stated that the companies tied to Dark Horse Cannabis "named different unaffiliated people as owners in their applications."
The governor did not comment on the investor presentation uncovered by Kentucky Public Radio, which suggested Dark Horse Cannabis could become the parent company of a "vertical" business structure in Kentucky, controlling cultivation, processing and dispensary operations. This ownership model is prohibited under Kentucky's medical cannabis regulations.
<h3 class="wp-block-heading">Final Lottery And Ongoing Scrutiny</h3>
The final lottery for dispensary licenses will take place on Dec. 16 for regions 1 and 2, which include Louisville and Lexington. 
About 1,200 applicants are competing for the remaining licenses and the results could shed more light on the role of out-of-state companies in Kentucky's cannabis industry.
Read Next:
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<li><a href="https://www.benzinga.com/markets/cannabis/24/06/39488414/cannabis-guns-kentucky-2nd-amendment-meet-the-atf-if-you-say-yes-to-medical-marijuana-the-answer">Cannabis, Guns, Kentucky &amp; 2nd Amendment, Meet The ATF: If You Say &#8216;Yes&#8217; To Medical Marijuana, The Answer To Owning A Gun Is &#8216;No&#8217;</a></li>
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Photo courtesy Gov. Beshear&#8217;s office

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