Silver Elephant Mining Stock (OTC: SILEF)

Silver Elephant Mining (OTC:SILEF) Stock, Quote.Headers.trade-ideas

Silver Elephant Mining Corp is a Canada-based mining and exploration company of energy metals. The company is amassing large quantities of silver and nickel-metal resources in the ground. Geographically, it operates in Canada; the USA; Mongolia, and Bolivia. Its projects include Pulacayo; and; El Triunfo ; Minago; and Gibellini among others.

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ACUIF

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ANACONDA MINING INC by Anaconda Mining Inc.

ANXGF

ASCOT RESOURCES LTD by Ascot Resources Ltd.

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GLOBAL ATOMIC CORP by Global Atomic Corp.

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The following post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga.

OTC Markets recently released its newest installment of the OTCQX Best 50 list. Released annually, the OTCQX Best 50 is a list of the 50 top-performing companies on the OTCQX Market, its top market tier. 

These Were The 50 Best-Performing Companies On The OTCQX Market In 2020

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The following post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga.

As we approach the end of what has been an extraordinary year, companies and investors alike are turning their attention to 2021—if they haven’t already. 

46 Emerging Technology And Mining Companies Giving 2020 Investor Recaps This Month

SILVER ELEPHANT MNG CORP by Silver Elephant Mining Corp.

Silver Elephant Mining Corp

On Wednesday, Cathie Wood-led Ark Invest made a significant move by selling shares of Robinhood Markets Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>).
The Robinhood Trade
Ark Invest&#8217;s ARK Next Generation Internet ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKW#NYSE">ARKW</a>) fund sold 18,483 shares of Robinhood Markets Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>) on Wednesday. The transaction was valued at approximately $927,107, based on Robinhood&#8217;s closing price of $50.16. This sale occurs as Robinhood navigates a challenging market environment, influenced by economic indicators and potential regulatory shifts.
Recent reports have highlighted Robinhood&#8217;s vulnerability to economic fluctuations, particularly those affecting retail investors. A report from early January noted that Robinhood&#8217;s <a href="https://www.benzinga.com/news/25/01/42878117/whats-going-on-with-robinhood-markets-stock">stock faced pressure</a> due to a cooling U.S. labor market, which could impact its trading-dependent revenue model. The ADP National Employment Report indicated a slowdown in job growth, potentially affecting trading volumes on Robinhood&#8217;s platform.
Despite these challenges, Robinhood has been identified as a <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42086650/robinhood-positioned-as-top-crypto-deregulation-trade-says-bernstein">key player</a> in the potential deregulation of the cryptocurrency sector. A Bernstein report positioned the brokerage as a top beneficiary of regulatory changes, suggesting a promising outlook for its growth. This dual narrative of economic challenges and regulatory opportunities frames Ark Invest&#8217;s decision to adjust its position in Robinhood.
Other Key Trades:
<ul>
<li>Sold 61,235 shares of Accolade Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ACCD#NASDAQ">ACCD</a>) from the ARKG fund.</li>
<li>Bought 307 shares of Deere &amp; Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DE#NYSE">DE</a>) for the ARKQ fund and 93 shares via ARKX.</li>
<li>Sold 307 shares of Elbit Systems Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ESLT#NASDAQ">ESLT</a>) from the ARKQ fund and 93 shares via ARKX.</li>
</ul>
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

Equities

ETFs

ACCD

ARKW

ESLT

HOOD

Cathie Wood's Wednesday Moves: Ark Invest Dumps Robinhood Stock

U.S. stocks experienced an upward trend today, with the Dow Jones climbing over 130 points to 44,156.73. The NASDAQ surged by 1.3% to 20,009.34, while the S&amp;P 500 rose by 0.6% to 6,086.37.
These are the top stocks that gained the attention of retail traders and investors throughout the day:
Blackboxstocks, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BLBX#NASDAQ">BLBX</a>)
Blackboxstocks shares soared 226.63%, closing at $5.52. The stock hit an intraday high of $6 and a low of $2.68, with a 52-week range of $6 to $1.51. The surge followed the <a href="https://www.benzinga.com/trading-ideas/movers/25/01/43141430/whats-going-on-with-blackboxstocks-shares-wednesday">company&#8217;s announcement</a> of securing financing in anticipation of a potential merger. Blackboxstocks agreed to a securities purchase agreement, receiving an initial $250,000, with further financing contingent on the merger.
Discover Financial Services&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DFS#NYSE">DFS</a>)
Discover&#8217;s stock rose 4.35%, closing at $197.50. It reached an intraday high of $198.97 and a low of $190.15, with a 52-week range of $198.97 to $99.07. The increase came after Discover reported <a href="https://www.benzinga.com/news/earnings/25/01/43148923/discover-delivers-q4-earnings-beat-revenue-beat-the-details">strong fourth-quarter earnings</a>. The company saw a 5% rise in net interest income and a 68% increase in non-interest income, despite a 6% drop in total loans year-over-year.
Alcoa Corp.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AA#NYSE">AA</a>)
Alcoa shares edged up 0.44% to close at $38.78, with an intraday high of $39.85 and a low of $38.68. The stock&#8217;s 52-week range is $47.77 to $24.86. The slight increase followed the release of&nbsp;<a href="https://www.benzinga.com/news/earnings/25/01/43147125/alcoa-shares-climb-after-better-than-expected-q4-results">better-than-expected fourth-quarter results</a>. Alcoa reported earnings of $1.04 per share, surpassing estimates, and revenue of $3.48 billion, up from $2.59 billion the previous year.
AST SpaceMobile Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASTS#NASDAQ">ASTS</a>)
AST SpaceMobile&#8217;s stock fell 2.64%, closing at $22.49. The stock&#8217;s intraday high was $23.74, with a low of $22.42, and a 52-week range of $39.07 to $1.97. The decline followed the company&#8217;s announcement of a&nbsp;<a href="https://www.benzinga.com/general/space/25/01/43148725/ast-spacemobile-stock-is-tumbling-wednesday-whats-going-on">proposed private offering</a>&nbsp;of $400 million in convertible senior notes due 2032.
Tesla Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)
Tesla shares dropped 2.11%, closing at $415.11. The stock reached an intraday high of $428 and a low of $414.59, with a 52-week range of $488.54 to $138.80. The decline followed news of the potential removal of the $7,500 EV tax credit, which <a href="https://www.benzinga.com/25/01/43122855/gary-black-deems-loss-of-7500-ev-tax-credit-as-huge-negative-for-tesla-dismisses-impact-on-rivals">could negatively impact</a> Tesla&#8217;s pricing in the U.S., according to Gary Black, Managing Partner of The Future Fund.
Image via Shutterstock
Prepare for the day&#8217;s trading&nbsp;<a href="https://editorial.benzinga.com/wp-admin/Premarket%20Movers%20&amp;%20News">with top premarket movers and news</a>&nbsp;by Benzinga.
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

ASTS

BLBX

TSLA

Blackboxstocks, Discover, Alcoa, AST Spacemobile, And Tesla: Why These 5 Stocks Are On Investors' Radars Today

SK hynix Inc. reported financial results for 2024, with revenues surging 102% to 66.19 trillion won ($46.34 billion), driven by explosive demand for artificial intelligence memory products. 
The South Korean semiconductor manufacturer, a critical supplier to Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), transformed from a loss-making position in 2023 to delivering a robust net profit of 19.79 trillion won ($13.84 billion).
The fourth-quarter performance highlighted the company&#8217;s strategic pivot, with revenues climbing 75% year-over-year to 19.7670 trillion won ($13.7 billion) and operating profit skyrocketing 2,236% to 8.08 trillion won ($5.66 billion). High-bandwidth memory emerged as a key growth driver, representing over 40% of total DRAM revenue and underscoring the company&#8217;s critical role in the AI semiconductor supply chain.
CFO Kim Woohyun emphasized the company&#8217;s profitability-first approach, noting &#8220;fundamental improvements&#8221; in high value-added product mix. The company plans continued investment in advanced memory technologies like HBM3E and HBM4, targeting growing demand from global technology leaders investing heavily in AI infrastructure.
Financial improvements were complemented by balance sheet optimization, with cash equivalents increasing 5.2 trillion won ($3.64 billion) and debt reducing 6.8 trillion won ($4.76 billion) in 2024. SK hynix also raised its annual dividend by 25% to 1,500 won ($1.05) per share, signaling confidence in its strategic positioning.
Price Action: SK Hynix stock is trading at 218,500 won ($151.97) on Thursday, down 3.10% as of 10:38 a.m. local time on the South Korea Exchange. Over the past year, the stock has surged by 55.18%, according to <a href="https://pro.benzinga.com/dashboard">data from Benzinga Pro</a>.
Read Next: 
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<li><a href="https://www.benzinga.com/government/regulations/25/01/43144858/sp-500-hits-fresh-records-at-6100-as-strong-earnings-trumps-ai-wager-fuel-bull-run">S&amp;P 500 Hits Fresh Records At 6,100: Strong Earnings, Trump&#8217;s AI Wager Fuel Bull Run</a></li>
</ul>
Image via Wikimedia Commons
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Earnings

NVDA

Nvidia Supplier SK Hynix Soars 102% In Revenue, But Stock Drops Despite AI Memory Boom

Gary Black has credited Netflix Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) <a href="https://www.benzinga.com/news/earnings/25/01/43114866/netflix-q4-earnings-record-subscribers-nfl-squid-game-push-past-highest-expectations">fourth-quarter performance</a> to its live sports strategy, original content, and price hike that saw minimal customer attrition.
What Happened: The Future Fund LLC managing partner took to X on Wednesday and highlighted Netflix's ability to attract massive audiences with its live sports and entertainment offerings.
&#8220;$NFLX (+10.5% AH) crushed 4Q net streaming adds (+18.9M vs +9.2M est) behind the strength of live sports and Squid Games 2,&#8221; he stated.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24NFLX&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$NFLX</a> (+10.5% AH) crushed 4Q net streaming adds (+18.9M vs +9.2M est) behind the strength of live sports and Squid Games 2. 2025/1Q Rev and EPS guides light vs ests. 4Q: &#8211; Revs $10.25B vs $10.11B est &#8211; EPS $4.27 vs $4.18 est &#8211; Paid members 301.6M vs 290.9M 1Q guide: &#8211; Rev…
&mdash; Gary Black (@garyblack00) <a href="https://twitter.com/garyblack00/status/1881813710328443019?ref_src=twsrc%5Etfw">January 21, 2025</a></blockquote>
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See Also: <a href="https://www.benzinga.com/news/global/25/01/43088582/gary-black-questions-elon-musks-take-on-ev-credit-removal-after-tesla-sales-drop-in-europe-not-sure-how-the-math-works">Gary Black Questions Elon Musk&#8217;s Take On EV Credit Removal After Tesla Sales Drop In Europe: &#8216;Not Sure How The Math Works&#8217;</a>
Black noted that the Mile Tyson&#8211;Jake Paul fight and Beyoncé's Christmas show as pivotal in delivering 18.9 million net subscriber adds, more than double the expected 9.2 million.
"When you have 65 million people go to Netflix for the Tyson-Paul fight and 25 million for Beyoncé&#8217;s halftime show, it was clear Netflix was going to get huge net subscriber adds," Black said.
The prominent investor also pointed out that Netflix's 14% price increase contributed significantly to its revenue growth while maintaining low customer attrition.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">When you have 65M people go to <a href="https://twitter.com/search?q=%24NFLX&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$NFLX</a> for Mike Tyson-Jake Paul fight, and 25M people for Beyonce halftime show on Christmas, it was clear NFLX was going to get huge net subscriber adds (+18.9M vs +9.2M exp). Add to that a +14% avg price increase with very low attrition, and it's…
&mdash; Gary Black (@garyblack00) <a href="https://twitter.com/garyblack00/status/1882062783635722505?ref_src=twsrc%5Etfw">January 22, 2025</a></blockquote>
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Why It Matters: Netflix&#8217;s fourth-quarter results have been described as one of the best in the company&#8217;s history.
The streaming giant brought its total paid memberships to 301.63 million compared to 290.9 million estimated. It also reported $10.25 billion in revenue, beating the expected $10.11 billion, and an EPS of $4.27, exceeding the projected $4.19.&nbsp;
However, Netflix's first-quarter 2025 guidance slightly missed expectations, with forecasted revenue of $10.42 billion (vs. $10.48 billion expected) and EPS of $5.58 (vs. $6.01 expected).
Analysts have <a href="https://www.benzinga.com/general/entertainment/25/01/43136402/netflix-stock-firing-on-all-cylinders-10-analysts-react-to-q4-beat-guidance-price-increases">adjusted their price targets</a> for Netflix, with Macquarie analyst Tim Nollen raising the target from $965 to $1,150, and KeyBanc analyst Justin Patterson increasing it from $1,000 to $1,100.
Netflix has also surpassed the <a href="https://www.benzinga.com/general/education/25/01/43145703/netflix-worth-more-than-disney-paramount-comcast-fox-combined">combined market cap</a> of entertainment giants like Walt Disney Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>), Paramount Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PARA#NASDAQ">PARA</a>) and Comcast Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMCSA#NASDAQ">CMCSA</a>).
Price Action: Black predicted a 20% upside for Netflix on Wednesday. During regular trading, the stock gained 9.69%, though it edged down 0.49% in after-hours trading.
Despite the slight after-hours dip, NFLX has delivered impressive gains this year, rising 7.59% year-to-date and an astounding 96.41% over the past 12 months, according to <a href="https://pro.benzinga.com/dashboard">data from Benzinga Pro</a>.
Netflix currently has a Relative Strength Index (RSI) of 67, indicating that the stock is in neutral territory.
<figure class="wp-block-image size-large"><a href="https://www.benzinga.com/quote/NFLX/analyst-ratings"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/22210933/Screenshot-2025-01-23-at-7.39.26%E2%80%AFAM-1024x375.png" alt="" class="wp-image-745822" /></a></figure>
Read Next:
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<li><a href="https://www.benzinga.com/markets/asia/25/01/43088007/nvidia-apple-supplier-tsmc-halts-production-as-6-4-magnitude-earthquake-strikes-taiwan" target="_blank" rel="noreferrer noopener">Nvidia, Apple-Supplier TSMC Halts Production As 6.4 Magnitude Earthquake Strikes Taiwan</a></li>
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Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Entertainment

CMCSA

NFLX

PARA

Netflix Crushed Q4 Thanks To Sports, Squid Game, Says Gary Black: Analyst Highlights Low Attrition Despite Price Hikes, Predicts Stock Upside

Leading cryptocurrencies dipped on Wednesday, diverging with the stock market rally, as the market expects more from the new Donald Trump administration.
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<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 7:30 p.m. ET)</td>
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<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>-2.33%</td>
<td>$103,392.39</td>
</tr>
<tr>
<td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>-2.13%</td>
<td>$3,255.66</td>
</tr>
<tr>
<td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>-1.94%</td>
<td>$0.3612</td>
</tr>
</tbody>
</table>
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What Happened: Bitcoin steadily fell from the highs of $107,000 tapped the day before. The top cryptocurrency hit an intraday low of $102,561 overnight.
Ethereum followed a similar trajectory, losing more than 2% of its value in the last 24 hours. The second-largest cryptocurrency has suffered losses of more than 5% over the week.
Though the SEC under acting Chairman Mark Uyeda launched a<a href="https://www.benzinga.com/top-stories/25/01/43110946/sec-launches-crypto-task-force-to-establish-clear-regulatory-framework"> dedicated cryptocurrency task force</a> to frame regulations for the industry, investors have been left disappointed due to no cryptocurrency-related executive orders from Trump thus far.
In the past 24 hours, 96,027 traders were liquidated, with total liquidations at $185.56 million. Upside bets worth $133.52 million were wiped out.
Long liquidations likely caused Bitcoin's Open Interest to slip by 3.06% in the last 24 hours.
That said, a rebound to $107,000 could liquidate nearly $565 million worth of short positions.
The market sentiment cooled from "Extreme Greed" to "Greed" over the last 24 hours, according to the Crypto Fear &amp; Greed Index.
Top Gainers (24-Hours)
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<tbody>
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<td>Cryptocurrency</td>
<td>Gains +/-</td>
<td>Price (Recorded at 7:30 p.m. ET)</td>
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<tr>
<td>XDC Network (XDC)</td>
<td>+14.13%</td>
<td>$0.1318</td>
</tr>
<tr>
<td>Worldcoin (WLD)</td>
<td>+8.21%</td>
<td>$2.28</td>
</tr>
<tr>
<td>Pudgy Penguins (PENGU)</td>
<td>+5.10%</td>
<td>$0.02501</td>
</tr>
</tbody>
</table>
</figure>
The global cryptocurrency market capitalization stood at $3.62 trillion, expanding by 3.62% in the last 24 hours.
Stocks surged for the second straight trading day of the week. The Dow Jones Industrial Average jumped 130.92 points, or 0.30%, to close at 44,156.73. The S&amp;P 500 lifted 0.61%, ending at&nbsp; 6,086.37, just below its record closing highs. The tech-heavy Nasdaq Composite gained 1.28% to close at 20,009.34.
Artificial intelligence players, including Nvidia Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), surged as President Donald Trump announced a $500 billion initiative <a href="https://www.benzinga.com/etfs/sector-etfs/25/01/43135764/trumps-500-billion-stargate-ai-plan-puts-3-etfs-in-focus">to bolster the industry</a> in the U.S. Nvidia rallied 4.43% during Wednesday's session.
See More: <a href="https://www.benzinga.com/money/best-crypto-scanners">Best Cryptocurrency Scanners</a>
Analyst Notes: Widely followed cryptocurrency technical analyst Rekt Capital noted that Bitcoin likely entered a re-accumulation phase before trend continuation to new all-time highs.
"The last time Bitcoin experienced re-accumulation was in the post-halving re-accumulation phase. Bitcoin rallied +46% upon breakout from that phase," the analyst added.
A similar move could propel the apex cryptocurrency to nearly $150,000, Rekt Capital projected.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> Bitcoin is likely experiencing another Re-Accumulation period before trend continuation to new All Time Highs The last time Bitcoin experienced Re-Accumulation was in the Post-Halving Re-Accumulation phase Bitcoin rallied +46% upon breakout from that phase If Bitcoin is… <a href="https://t.co/66cu6CjZmS">pic.twitter.com/66cu6CjZmS</a>
&mdash; Rekt Capital (@rektcapital) <a href="https://twitter.com/rektcapital/status/1882105114707587223?ref_src=twsrc%5Etfw">January 22, 2025</a></blockquote>
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Popular cryptocurrency trader Michaël van de Poppe made optimistic predictions for Ethereum, owing to <a href="https://www.benzinga.com/25/01/43088676/trump-backed-world-liberty-financial-bags-47-million-each-of-ethereum-wrapped-bitcoin-to-honor-the-new-president">large purchases</a> by World Liberty Financial, a decentralized finance platform backed by Trump.
"The fact that World Liberty has been buying so much ETH makes me more bullish on that particular asset," he said. "I think it&#8217;s going to start and make a great revival through 2025."
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The fact that World Liberty has been buying so much <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> makes me more bullish on that particular asset. I don&#39;t think <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> is the <a href="https://twitter.com/search?q=%24ADA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ADA</a> of this cycle. I think it&#39;s going to start and make a great revival through 2025.
&mdash; Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1882078516847538192?ref_src=twsrc%5Etfw">January 22, 2025</a></blockquote>
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Photo by Avi Rozen on Shutterstock
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Bitcoin, Ethereum, Dogecoin Drop Amid Stock Rally, Cooling Investor Sentiment On Trump: Analyst Projects BTC At $150K If History Repeats

Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) has seen a staggering $510 billion decline in market capitalization over the past three weeks, paving the way for Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) to reclaim its position as the world&#8217;s largest company, according to analysis from The Kobeissi Letter.
What Happened: The market shift stems from Apple&#8217;s significant challenges in the Chinese smartphone market, where annual iPhone shipments dropped 17% in 2024—the largest annual sales decline since 2016. Apple has now fallen behind local competitors Vivo and Huawei in China&#8217;s competitive smartphone landscape.
Investor Warren Buffett, long a proponent of Apple, recently reduced Berkshire Hathaway&#8216;s Apple stake by 25%, maintaining 300 million shares. Despite this reduction, Apple remains a <a href="https://www.benzinga.com/news/25/01/43132892/warren-buffett-once-claimed-iphones-are-so-great-that-no-one-would-take-10000-to-stop-buying-them">critical 26% of Berkshire&#8217;s portfolio</a>.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Apple stock, <a href="https://twitter.com/search?q=%24AAPL&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$AAPL</a>, has erased $510 billion in market cap over the last 3 weeks. Since December 26th, the stock has declined ~14% and the company's worth has fallen to $3.35 trillion. As a result, Nvidia, <a href="https://twitter.com/search?q=%24NVDA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$NVDA</a>, has again surpassed Apple as the world's largest company. This… <a href="https://t.co/pGmLxLxCsG">pic.twitter.com/pGmLxLxCsG</a>
&mdash; The Kobeissi Letter (@KobeissiLetter) <a href="https://twitter.com/KobeissiLetter/status/1882148905166516690?ref_src=twsrc%5Etfw">January 22, 2025</a></blockquote>
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JPMorgan analyst Samik Chatterjee attributes Apple&#8217;s struggles to multiple factors, including currency headwinds, limited AI feature adoption, and challenging market conditions in China. The analyst expects Apple&#8217;s first-quarter earnings to fall slightly <a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/01/43097512/apples-ai-advances-cant-offset-chinese-market-slowdown-says-analyst">below consensus estimates</a>, with potential guidance disappointments.
See Also: <a href="https://www.benzinga.com/government/regulations/25/01/43144858/sp-500-hits-fresh-records-at-6100-as-strong-earnings-trumps-ai-wager-fuel-bull-run">S&amp;P 500 Hits Fresh Records At 6,100: Strong Earnings, Trump&#8217;s AI Wager Fuel Bull Run</a>
Why It Matters: Needham analyst Laura Martin remains cautiously optimistic, maintaining a $260 price target and highlighting Apple&#8217;s potential in services, wearables, and emerging technologies like Vision Pro. However, Martin acknowledges the company&#8217;s heavy <a href="https://www.benzinga.com/analyst-ratings/price-target/25/01/43110913/apples-iphone-dependence-remains-but-services-wearables-offer-growth-potential-analyst">dependence on iPhone sales</a>.
The evolving tech landscape presents significant challenges for Apple, with local Chinese brands and AI-powered competitors increasingly threatening its market dominance. As Nvidia capitalizes on AI technological advancements, Apple faces critical questions about innovation and global market strategy, according to The Kobeissi.
Price Action: Apple&#8217;s stock closed at $223.83 on Wednesday, gaining 0.53% during the regular session. In after-hours trading, the stock dipped 0.29%. Over the past 52 weeks, Apple has traded between a low of $164.08 and a high of $260.09, according to <a href="https://pro.benzinga.com/dashboard">data from Benzinga Pro</a>.
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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.

AAPL

Apple's $510 Billion Market Cap Drop Opens Door For Nvidia To Reclaim World's Largest Company Title Amid iPhone Maker's China Struggles

JP Morgan Chase (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) CEO, Jamie Dimon, expressed his approval of President Donald Trump&#8217;s proposed tariffs on several countries, including Canada, Mexico, and China on Wednesday.
What Happened: During a discussion at the World Economic Forum, Dimon argued that the national security benefits of these tariffs would surpass any potential inflationary impact. He was quoted saying, &#8220;If it&#8217;s a little inflationary, but it&#8217;s good for national security, so be it. I mean, get over it,&#8221; <a href="https://www.cnbc.com/2025/01/22/jamie-dimon-on-trumps-tariffs-get-over-it.html">reported</a> CNBC.
Dimon also referred to tariffs as an &#8220;economic tool,&#8221; and dismissed the idea that they are inherently inflationary. His comments come amidst claims from some economists that tariffs would increase prices for American consumers and harm the country&#8217;s economy.
"Tariffs can change the dollar, but the most important thing is growth," Dimon said in the interview.
Dimon wasn't the only Wall Street leader expressing optimism about tariffs. Goldman Sachs CEO David Solomon, speaking at Davos, said that business leaders have been adapting to potential policy changes, including trade.
 He described the shifts as a &#8220;rebalancing&#8221; of trade agreements that, if managed carefully, could benefit U.S. growth. Solomon emphasized the importance of a thoughtful approach, noting that some measures are likely part of broader negotiation strategies. &#8220;Used appropriately, it can be constructive,&#8221; he said, adding that the situation will evolve over time and requires close monitoring.
Why It Matters: Trump had previously announced his consideration of a <a href="https://www.benzinga.com/etfs/emerging-market-etfs/25/01/43130930/trump-looking-at-10-tariff-on-china-starting-feb-1">10% tariff on goods</a> from China, which could take effect as early as Feb.1.
This was followed by his pledge to <a href="https://www.benzinga.com/25/01/43103527/mexican-peso-canadian-dollar-slide-as-trump-threatens-25-tariffs-expert-eyes-price-hikes-on-typical-us-breakfast">impose 25% tariffs on imports</a> from Canada and Mexico starting Feb. 1, causing the Mexican peso and Canadian dollar to weaken.
These proposed tariffs have sparked debates among economists, trade experts, and consumers, as they could <a href="https://www.benzinga.com/personal-finance/24/12/42367505/economists-warn-trumps-tariffs-on-canada-mexico-and-china-could-hurt-your-budget-more-than-help-it">lead to higher costs</a> for American households. Economic analyst Catherine Rampell warned that the tariffs could raise prices on a wide range of consumer goods.
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

Politics

Jamie Dimo Supports Trump's Tariffs: 'If It's A Little Inflationary, But It's Good For National Security, So Be It'

Wallets belonging to Ross Ulbricht, the imprisoned creator of the illegal drug marketplace&nbsp;Silk Road, were discovered on Wednesday, containing as many as 430 Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) unmoved for over 13 years.
What Happened: In an X post, Conor Grogan, a director at&nbsp;Coinbase, said that he had found nearly 430 BTC across multiple wallets linked to Ulbricht. These wallets were not seized by the U.S. government and have remained untouched for over 13 years. 
&#8220;Back then these were probably&nbsp;dust wallets, now, collectively, they&nbsp;are worth about $47 million,&#8221; Grogan disclosed in the post. At the current prices, the value of these assets amounted to $44.48 million.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I found ~430 BTC across dozens of wallets associated with Ross Ulbricht that were not confiscated by the USGovt and have been untouched for 13+ years Back then these were probably dust wallets, now, collectively, they are worth about $47M. Welcome back Ross <a href="https://t.co/KmCp4xcrI7">pic.twitter.com/KmCp4xcrI7</a>
&mdash; Conor (@jconorgrogan) <a href="https://twitter.com/jconorgrogan/status/1882046613709115875?ref_src=twsrc%5Etfw">January 22, 2025</a></blockquote>
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It&#8217;s uncertain whether Ulbricht still has access to the keys to these wallets. Grogan said, &#8220;We will know soon enough,&#8221; suggesting that it&#8217;d be clear if the dormant Bitcoins start to move.
A section of the cryptocurrency community didn&#8217;t approve Conor making the wallet details public. In his defense, he said they were already public and cited in Ulbricht&#8217;s trial documents.
See Also:<a href="https://www.benzinga.com/24/12/42735744/pharma-bro-martin-shkreli-predicts-doom-for-michael-saylors-microstrategy-as-stock-dips-below-300-in-after-hours-trading"> </a><a href="https://www.benzinga.com/markets/cryptocurrency/25/01/43119637/michael-saylors-proposal-to-increase-microstratagys-share-count-approved-by-shareholders-more-bitcoin-purchases-on-the-cards">Michael Saylor&#8217;s Proposal To Increase MicroStratagy&#8217;s Share Count Approved By Shareholders — More Bitcoin Purchases On The Cards?</a>
Why It Matters: This discovery comes shortly after President Donald Trump pardoned Ulbricht, fulfilling a campaign promise. Trump granted Ulbricht a &#8220;full and unconditional&#8221; pardon in support of the of the Libertarian Movement
Ulbricht was serving a double life sentence since 2013 for creating the darknet website, a hub of the illegal trafficking of heroin, cocaine, LSD, and other substances, all paid for in Bitcoin.
It remained to be seen whether Ulbricht would be able to access these funds following his pardon.
Price Action: At the time of writing, Bitcoin was exchanging hands at $103,150.67, down 2.17% 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>.
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Image via Shutterstock
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>

Bitcoin Worth $44 Million Found In Ross Ulbricht's Wallets  — Will The Freshly Pardoned Silk Road Founder Move The Coins?

Secretary of State Marco Rubio is gearing up for his first foreign tour, with Panama on his itinerary, amid rising tensions over the Panama Canal.
What Happened: Rubio&#8217;s inaugural foreign trip as Secretary of State will also include Guatemala, El Salvador, Costa Rica, and the Dominican Republic. However, these plans are still tentative, according to officials privy to the matter, <a href="https://www.politico.com/news/2025/01/22/marco-rubio-panama-00200137">reported</a> Politico.
This visit, which could reportedly take place as early as next week, follows President Donald Trump&#8217;s controversial remarks hinting at the U.S. potentially reclaiming the Panama Canal. These comments have sparked a diplomatic spat with Panama. &#8220;The Panama Canal belongs to Panama and will continue to belong to Panama,&#8221; asserted Panama&#8217;s President, José Raúl Mulino, at the World Economic Forum earlier this week.
During his tour, Rubio is expected to tackle two critical issues on the MAGA foreign policy agenda: illegal migration and the Panama Canal. The countries on Rubio&#8217;s travel list,&nbsp;including Guatemala and El Salvador,&nbsp;are key transit points for migrants heading to the U.S. southern border.
In a recent memo&nbsp;to State Department employees, Rubio&nbsp;underscored mass migration as &#8220;among&nbsp;the most consequential issues of&nbsp;our time&#8221; and committed to collaborating with Western Hemisphere nations to stem illegal immigration.
The State Department has not yet commented on Rubio&#8217;s impending travel.
Why It Matters: The controversy over the Panama Canal has been brewing for some time. In January, <a href="https://www.benzinga.com/news/global/25/01/42864556/trump-does-not-rule-out-military-force-to-acquire-panama-canal-greenland-we-need-them-for-economic-security">Trump refused to rule out the use of military force</a> to regain control of the canal, citing economic security. 
Trump&#8217;s comments sparked backlash from Panama&#8217;s President Mulino, who <a href="https://www.benzinga.com/24/12/42639737/trumps-call-to-reclaim-panama-canal-sparks-backlash-every-square-meter-belongs-to-panama-says-president-mulino">asserted Panama&#8217;s ownership of the canal</a> in December. 
Trump&#8217;s threat to seize the canal, which <a href="https://www.benzinga.com/startups/25/01/43036986/trumps-2-5-billion-power-play-what-seizing-the-panama-canal-would-cost">generates $2.5 billion in annual revenue for Panama</a> and handles 5% of global maritime trade, has raised concerns about potential disruption to international commerce.
Image via Shutterstock
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

Marco Rubio Reportedly Set To Visit Panama Amid Trump's Canal Rhetoric

Artificial intelligence and AI agents are changing the workforce and the job market, according to a report from the <a href="https://www.benzinga.com/search?q=World+Economic+Forum#:~:text=Adam%20Eckert,1%3A40%20PM">World Economic Forum.&nbsp;</a>
The Details: According to the WEF's The Future of Jobs Report 2025, 41% of employers surveyed expect to reduce the size of their workforces in the next five years, specifically in roles "where AI can replicate people's work." 
The survey's respondents expect the fastest-declining roles to include cashiers and ticket clerks, administrative assistants and executive secretaries, printing workers, accountants and auditors. The WEF primarily attributed the decline in demand for these clerical roles to AI and information processing technologies, robots and autonomous systems. 
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Growth in AI and information processing technology is expected to create 11 million jobs, while eliminating nine million others, more than any other technology trend. 
The WEF pointed to robotics and autonomous systems as the largest net job displacer, with a net decline of five million jobs.
"Trends such as generative AI and rapid technological shifts are upending industries and labor markets, creating both unprecedented opportunities and profound risks," said Till Leopold, head of Work, Wages and Job Creation at WEF. 
"The time is now for businesses and governments to work together, invest in skills, and build an equitable and resilient global workforce," Leopold added.&nbsp;
AI Agents: Some companies like Oracle Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NYSE">ORCL</a>) and Salesforce, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NYSE">CRM</a>) are developing AI agents designed to automate repetitive and time-consuming tasks. These AI agents could contribute to some of the job displacement the WEF highlighted. 
Oracle offers more than 50 role-based AI agents within its Oracle Fusion Cloud Applications Suite which can <a href="https://www.benzinga.com/quote/ORCL#:~:text=Oracle%20AI%20Agents%20Help%20Sales%20Teams%20Create%20More%20Meaningful%20Customer%20Connections">perform tasks</a> in the areas of finance, sales, customer service and marketing. Salesforce's Agentforce is an AI platform that enables companies and organizations <a href="https://www.benzinga.com/25/01/42917603/salesforce-empowers-retailers-with-ai-to-boost-efficiency-and-sales">to build</a> customized autonomous AI agents for various business functions.
Experts predict AI agents will grow to become commonplace in the near term. 
"Agents are the next step in putting AI to work in the real world. Consumers should expect almost every major business they interact with to create an agent. We'll see agents supporting customers in banking, insurance, healthcare and retail. By this time next year, agents will be a reality of our collective digital lives," Paul Drews, managing partner for Salesforce Ventures<a href="https://www.fastcompany.com/91254053/25-experts-predict-how-ai-will-change-business-and-life-in-2025"> told</a> Fast Company.&nbsp;
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Photo: Shutterstock

Global

ORCL

AI, AI Agents Will Create 'Unprecedented Opportunities And Profound Risks,' World Economic Forum Says

Social media followers of the president, first lady and vice president were surprised to learn that they now follow people they may not have wanted to after Donald Trump was inaugurated as<a href="https://www.benzinga.com/general/entertainment/25/01/43139381/how-many-people-watched-donald-trumps-2025-inauguration-spoiler-less-than-biden-four-years-ago"> president on Monday.</a>
What Happened: Users of Instagram and Facebook, which are owned by Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), have experienced several recent changes including CEO Mark Zuckerberg announcing the end of <a href="https://www.benzinga.com/25/01/42851889/meta-ditches-fact-checking-for-community-notes-zuckerberg-says-opportunity-to-restore-free-expression">content moderation teams</a>.
Instagram and Facebook users who followed Joe Biden, Kamala Harris and Jill Biden over the past several years were also surprised to find themselves now following Donald Trump, J.D. Vance and Melania Trump after Monday.
Users were quick to blame Meta Platforms and cite the potential influence of Zuckerberg, who has been cozying up to Trump in recent months. Zuckerberg attended the inauguration and Meta recently donated $1 million to the president's inauguration fund.
Some users reported they were unable to unfollow the accounts of the new political leaders, including singer Demi Lovato, as reported by <a href="https://variety.com/2025/digital/news/facebook-instagram-users-forced-trump-vance-follow-1236282155/">Variety</a>.
"I have unfollowed this guy twice today," Lovato said of the @vp account now belonging to Vance. "Shady f&#x2A;&#x2A;&#x2A;ing business meta."
Meta contends they have done nothing wrong and this is the practice done in past presidential transitions. The official accounts for @potus, @vp and @flotus have been transferred over to the new people in those roles, while keeping the same followers and the content being wiped clean and archived to other accounts.
"People were not made to automatically follow any of the official Facebook or Instagram accounts for the president, vice president or first lady," Meta spokesperson Andy Stone <a href="https://www.threads.net/@andymstone/post/DFImiJsPblY">said </a>in a post on Threads. "Those accounts are managed by the White House so with a new administration, the content on those Pages changes."
Stone said the same changes took place when Biden took over as president for Trump in 2021. One potential difference is the ability to unfollow these particular accounts.
"It may take some time for follow and unfollow requests to go through as these accounts change hands," Stone added.
Users can follow and unfollow other accounts without any problem as of time of writing of this article.
Here are the current follower accounts for several mentioned Instagram accounts:
<ul>
<li>@potus (now Trump): 16.8 million</li>
<li>@realdonaldtrump (his existing account): 31.2 million</li>
<li>@potus46archive (Joe Biden's old account): 18.7 million</li>
<li>@flotus (now Melania Trump): 4.1 million</li>
<li>@flotus46archive (Jill Biden's old account): 4.1 million</li>
<li>@joebiden (Joe Biden's existing account): 17 million</li>
<li>@vp (now Vance): 15.7 million</li>
<li>@vp46archive (Harris's old account): 16.9 million</li>
<li>@kamalaharris (Kamala Harris's existing account): 19.6 million</li>
</ul>
The accounts had the same number of followers when they were archived as they did for the new account holder. This means that the VP and POTUS accounts have lost followers since the transition took place.
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X Does It A Little Differently: Social media accounts with the names POTUS, VP and FLOTUS belong to the people in those roles. The question is how to manage the transition.
With users upset, the question now becomes whether social media companies should have to alert users that they are now following new people or if the accounts should start over from 0.
Platform X, which is owned by Trump-ally Elon Musk, chooses to do the latter.
Followers of the @potus, @vp and @flotus accounts on X saw those accounts change names to archived accounts. Users were not forced to follow the @potus, @vp and @flotus accounts once again as they started from 0 with the new names and faces attached.
Here's a look at the current follower accounts on X:
<ul>
<li>@potus: 1.5 million</li>
<li>@potus46archive: 37 million</li>
<li>@potus45: 31.4 million</li>
<li>@potus44: 12.9 million</li>
<li>@flotus: 116.1 thousand</li>
<li>@flotus46archive: 4.4 million</li>
<li>@vp: 424.9 thousand</li>
<li>@vp46archive: 14.9 million</li>
</ul>
Many politicians have existing accounts and use the official White House accounts along with their own personal ones. This means outgoing parties like Biden and Harris have their own accounts they will now use. For reference, here are the followers on those accounts along with former President Barack Obama:
<ul>
<li>Biden: 38.2 million</li>
<li>Harris: 21.0 million</li>
<li>Trump: 99.1 million</li>
<li>Obama: 130.8 million</li>
</ul>
Obama is ranked as the second most-followed person on X, <a href="https://www.benzinga.com/general/social-media/24/10/41168674/elon-musk-passes-200-million-followers-on-x-heres-the-top-10-accounts-and-where-barack-obama">trailing only Musk</a> (213.7 million). Trump's personal account ranks eighth currently.
According to data from <a href="https://socialblade.com/twitter/user/potus">SocialBlade</a>, the @potus account ended Jan. 20 with 702,038 followers.
Trump's personal account has added 2.7 million followers over the past 30 days, averaging a gain of 89,571 daily. Biden's personal account has lost 33,118 followers over the past 30 days, averaging a daily loss of 1,104 a day.
Social media users should be aware of these policies and know who they are following as it may have changed after Monday.
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Photo: Shutterstock

Government

Social Media

Follow Biden Or Harris On Instagram, Facebook? Chances Are You're Now Following Trump Or Vance

President Donald Trump's plan to add a 25% tariff on goods from Mexico and Canada by Feb. 1 has started a big argument about whether it's legal and how it could hurt the economy.&nbsp;
Former New York prosecutor Tristan Snell said there was &#8220;one small problem&#8221; with Trump&#8217;s announcement. &#8220;The president does NOT have unilateral power to change tariff rates,&#8221; he <a href="https://x.com/TristanSnell/status/1881525990863823231">said</a> on X on Tuesday and also raised a critical question: &#8220;Will GOP representatives and senators vote to destroy their local economies?&#8221; According to him, significant changes to trade policy require Congressional approval.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">BREAKING: Trump says 25% tariffs on Canada and Mexico will begin February 1. One small problem. The president does NOT have unilateral power to change tariff rates. Trump needs Congress &#8211; and will GOP reps and senators vote to destroy their local economies?
&mdash; Tristan Snell (@TristanSnell) <a href="https://twitter.com/TristanSnell/status/1881525990863823231?ref_src=twsrc%5Etfw">January 21, 2025</a></blockquote>
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<h2 class="wp-block-heading">Can Trump Legally Impose These Tariffs?</h2>
While the president has some executive tools, like the International Emergency Economic Powers Act (IEEPA) and sections of the Trade Acts of 1930 and 1974, these measures are subject to legal constraints per law firm Buchanan Ingersoll &amp; Rooney. For instance:
<ul>
<li>Although IEEPA permits tariffs in times of national emergency, it is unprecedented to use it to apply tariffs all at once and doing so would probably be challenged in court.</li>
<li>Section 122 of the Trade Act of 1974 permits a temporary 15% import surcharge to address balance-of-payment deficits, but it is limited in scope and duration.</li>
<li>Article 1, Section 8 of the U.S. Constitution grants Congress, not the president, the power to impose taxes and duties. While Trump could try to leverage a Republican majority, bypassing Congress altogether would be legally questionable.</li>
</ul>
Economists and trade experts question whether Trump will follow through with his tariff threats. Goldman Sachs economist <a href="https://www.benzinga.com/25/01/43103527/mexican-peso-canadian-dollar-slide-as-trump-threatens-25-tariffs-expert-eyes-price-hikes-on-typical-us-breakfast">Alec Phillips noted</a> that similar proposals in Trump's first term often fizzled out before implementation.&nbsp;
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"Despite Trump&#8217;s comments, we continue to believe the odds of a 25% tariff on Canada and Mexico are low at 20%. We are lowering our odds of a universal tariff this year to 25%," Phillips said in a note.
<h2 class="wp-block-heading">How Could Tariffs Impact Neighboring States?</h2>
Trump&#8217;s proposal may greatly impact states in the United States that rely on commerce with Canada and Mexico. Supply chain interruptions could occur in border areas like Texas, California and Michigan, which depend on imports for sectors like the automobile industry.&nbsp;
Similarly, agricultural states such as Iowa, which export heavily to Mexico, might face retaliatory tariffs that harm farmers. Everyday goods, including groceries and beverages, <a href="https://www.benzinga.com/startups/24/12/42344194/these-products-will-likely-see-price-hikes-due-to-trumps-tariffs-on-canada-and-mexico-2">could become more expensive</a>, exacerbating inflation.&nbsp;
Furthermore, businesses involved in cross-border commerce may face difficulties due to rising production costs, which could lead to job losses in the retail, industrial and agricultural sectors.
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<h2 class="wp-block-heading">Canada and Mexico Push Back</h2>
Canadian Prime Minister Justin Trudeau criticized the tariff threat, promising that Canada would fight back with equal tariffs if necessary. "Canada will respond and everything is on the table," Trudeau said, emphasizing Canada&#8217;s critical role in providing resources like steel, aluminum and energy. He also warned that alienating Canada could force the U.S. to source goods from adversarial nations like China or Russia.
Mexican President Claudia Sheinbaum took a calmer approach, emphasizing the importance of diplomacy while defending Mexico's independence. She pointed out that both countries would face economic harm if the tariffs were enforced.
President Donald Trump argues that the proposed tariffs on Mexico and Canada are necessary to protect American workers and industries. He believes these measures will curb illegal immigration and drug trafficking, which he ties to cross-border trade issues. Trump has also stated that tariffs will generate revenue for the U.S. while encouraging domestic production, reducing reliance on foreign goods.
As Trump's administration doubles down on its aggressive trade agenda, all eyes are on Congress. Will GOP lawmakers back these tariffs, knowing the potential damage to local economies? With legal hurdles and economic risks mounting, the debate over Trump's tariff policy is far from over.
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Former NY Prosecutor Questions GOP: 'Will They Vote To Destroy Their Local Economies?' Says Trump Lacks Unilateral Power To Change Tariffs

Steel Dynamics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STLD#NASDAQ">STLD</a>) reported quarterly earnings of $1.36 per share which missed the analyst consensus estimate of $1.42 by 4.23 percent. This is a 47.89 percent decrease over earnings of $2.61 per share from the same period last year. The company reported quarterly sales of $3.87 billion which missed the analyst consensus estimate of $3.95 billion by 2.07 percent. This is a 8.53 percent decrease over sales of $4.23 billion the same period last year.

STLD

CORRECTION: Steel Dynamics Q4 EPS $1.36 Misses $1.42 Estimate, Sales $3.87B Miss $3.95B Estimate

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