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

A whopping 60.9 billion Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) has been transacted in the past 24 hours, hinting at a possible bullish trend for the meme cryptocurrency. 
What Happened: <a href="https://app.intotheblock.com/coin/DOGE/deep-dive?group=financials&amp;chart=largeTransactions">Data</a> from IntoTheBlock reveals that the large transaction volume of Dogecoin has surged by 40.1% in the last 24 hours, totaling $23 billion or 60.9 billion DOGE.
Large transactions, which are those exceeding $100,000, are usually a sign of intense buying or selling pressure. This surge aligns with a significant increase in DOGE&#8217;s price. This sudden spike in transaction volume may be indicative of rising investor confidence.
At the time of writing, DOGE is valued at $0.4614, marking a 2% increase&nbsp;in the last 24 hours.&nbsp;This rise has propelled&nbsp;weekly and monthly gains to&nbsp;5.66% and 137.8% respectively, hinting that Dogecoin might be on the brink of a price surge.
Also Read:&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42152520/dogecoin-whales-move-214-5m-in-a-single-day-sparking-speculation" target="_blank" rel="noreferrer noopener">Dogecoin Whales Move $214.5M In A Single Day, Sparking Speculation</a>
The surge in volume could lure short-term traders to wager on Dogecoin, possibly leading to an additional increase in market activity and averting a steep sell-off.
Last week the meme coin witnessed a substantial increase in trading volume, indicating a potential major price upswing.
Dogecoin's trading volume soared by 76.71%. This surge in momentum was supported by considerable whale activity, including a recent transfer of $120 million DOGE to an unidentified wallet.
Why It Matters: Historically, Dogecoin has demonstrated robust performance in December. For instance, DOGE posted a remarkable&nbsp;337.5% gain in December 2017&nbsp;and a more moderate rally&nbsp;of 32.4% in 2020. 
Last&nbsp;year, DOGE&#8217;s&nbsp;price grew moderately by 7.01%.&nbsp;This trend&nbsp;positions DOGE as a cryptocurrency&nbsp;to keep an eye on this holiday season.
Read Next
<a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40429878/dogecoins-active-users-on-the-rise-will-this-impact-doge-price" target="_blank" rel="noreferrer noopener">Dogecoin&#8217;s Active Users On The Rise, Will This Impact DOGE Price?</a>
Image: Shutterstock

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

Cryptocurrency

News

Markets

$DOGE

Dogecoin's Whopping 60.9B Movement In 24 Hours: A Bullish Sign?

Tapeworms don't just cause discomfort; they drain their host of vital nutrients, leaving them weaker by the day. In <a href="https://www.benzinga.com/personal-finance/24/11/41818744/warren-buffett-bought-a-1-7-billion-business-over-the-phone-without-meeting-founder-by-using-wha">Warren Buffett's eyes</a>, that's exactly what rising health care costs are doing to the U.S. economy. And despite years of debate and failed solutions, this tapeworm hasn't gone anywhere – it has only become more insidious.
Buffett, the legendary investor and CEO of Berkshire Hathaway, has long criticized the U.S. health care system. He famously called medical costs "the tapeworm of American economic competitiveness." He first made this remark during a CNBC interview on March 1, 2010, highlighting how escalating health care expenses undermine the nation's economic strength.
Don't Miss:
<ul>
<li>Can you guess how many retire with a $5,000,000 nest egg? <a href="https://www.benzinga.com/money/5mil-nest-egg-adv">The percentage may shock you</a>.</li>
<li><a href="https://www.benzinga.com/money/are-you-rich">Are you rich?</a> Here&#8217;s what Americans think you need to be considered wealthy.</li>
<li><a href="https://www.benzinga.com/money/cd-valet-growth">CD Popularity Soars: Over 50 Million Americans Embrace Safe Savings with 5–10% Annual Growth</a></li>
</ul>
Buffett's concerns stem from the outsize portion of the U.S.&#8217;s GDP dedicated to health care. He pointed out that the U.S. was spending about 17% of its GDP on health care – nearly double the 9% average of other developed countries. This imbalance, he argued, puts American businesses at a significant competitive disadvantage globally.
More than a decade later, the problem hasn't improved. In fact, it has worsened. Recent data shows health care spending has risen to 17.3% of GDP as of 2022, with projections suggesting it could climb to nearly 20% by 2032.
According to a CMS report, U.S. health care spending surged to $4.8 trillion, marking a 7.5% increase that outpaced the GDP growth rate of 6.1%.
See Also: ‘Scrolling To UBI' — Deloitte's #1 fastest-growing software company allows users to earn money on their phones. <a href="https://www.benzinga.com/money/mode-mobile-2">You can invest TODAY for just $0.26/share with a $1000 minimum.</a>
Why does this matter? Because runaway costs aren't just bad for balance sheets – they're undermining American businesses and workers at every level. Companies footing the bill for employee health insurance face rising operational expenses, which eat into profits and limit their ability to compete globally. Many employers are forced to make hard choices: reduce hiring, suppress wages or pass the costs to consumers.
Let's not forget workers themselves. Rising premiums and out-of-pocket expenses are chipping away at take-home pay, leaving families with less disposable income. That's not just a strain on household budgets – it's a drag on the broader economy as workers have less money to spend on groceries, vacations etc.
Buffett has also pointed to the inefficiencies baked into the system. The fee-for-service model rewards quantity over quality and incentivizes unnecessary procedures and treatments. That's why health care<a href="https://www.benzinga.com/personal-finance/24/08/40624190/aon-predicts-9-increase-in-employer-health-care-costs-for-2025-heres-whats-fueling-the-spike"> costs continue to climb</a>, even though patient outcomes aren't improving meaningfully. It's a vicious cycle and so far, no one has been able to break it.&nbsp;
Trending: Can you guess how many Americans successfully retire with $1,000,000 saved?<a href="https://www.benzinga.com/money/1milsaved"> The percentage may shock you</a>.
Not that Buffett hasn't tried. In 2018, Berkshire Hathaway joined forces with Amazon and JPMorgan Chase to create Haven, a health care venture that promised to tackle rising costs and inefficiencies. By 2021, however, the initiative had quietly folded. Reflecting on its failure during the Berkshire Hathaway annual shareholders' meeting, Buffett admitted, "We were fighting a tapeworm in the American economy and the tapeworm won."
The bluntness of that statement says it all. Fixing the U.S. health care system isn't just a challenge – it's an arduous task. For now, the tapeworm continues to feed, siphoning off resources that could be used to grow businesses, raise wages and invest in innovation.&nbsp;
Buffett's longtime partner, the late Charlie Munger, didn't hesitate to share his <a href="https://www.benzinga.com/personal-finance/24/08/40150567/charlie-munger-called-healthcare-industry-deeply-immoral-and-a-disgrace-claiming-providers-artif">critique of the U.S. health care system</a>. In a 2018 interview on Squawk Box, Munger called the system "shot through with rampant waste" and even went as far as to label it "deeply immoral."
Buffett&#8217;s warning isn't just a clever metaphor … it's a wake-up call. The question is whether policymakers and industry leaders will finally answer it or let the tapeworm keep winning.
Read Next:
<ul>
<li>The number of ‘401(k)' Millionaires is up 43% from last year —<a href="https://www.benzinga.com/money/401k-millionaires"> Here are three ways to join the club.</a></li>
<li>Studies show 50% of consumers think Financial Advisors cost much more than they do —<a href="https://www.benzinga.com/money/money-pickle"> to debunk this, this company provides matching for free and a complimentary first call with the matched advisor.</a></li>
</ul>

Personal Finance

Warren Buffett Says Medical Costs Are 'The Tapeworm' Of The U.S. Economy – And Warns 'The Tapeworm Won the Fight

<a href="https://www.globenewswire.com/Tracker?data=JVBMMtZvBfvr9UskpcK78_LnNB-8CzsRgabrfEwrU9KKcwDuJxU-i7TNDhk61TNcuoO8j08_cJdKLt8wGKxpOpb_8ZYsWVpJngQXi19ypjw=">Cogent Biosciences, Inc.</a>&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COGT#NASDAQ">COGT</a>), a biotechnology company focused on developing precision therapies for genetically defined diseases, today reported positive updated data from Part 1 of the Company's ongoing Phase 2 APEX clinical trial evaluating bezuclastinib in patients with advanced systemic mastocytosis (AdvSM) at the 66th American Society of Hematology (ASH 2024) Annual Meeting &amp; Exposition taking place December 7-10, 2024 in San Diego, CA.
52% ORR per mIWG criteria, including 83% ORR for patients receiving 100 mg BID
88% ORR per PPR criteria, including 100% ORR for patients receiving 100 mg BID
Median time to response 2.2 months with median duration of response and median PFS not yet reached
Top-line data from APEX Part 2 on-track for mid-2025
Cogent to host investor webcast on Monday, December 9 at 8:00 a.m. ET

COGT

Cogent Biosciences At ASH, Announced Updated Data From Ongoing Phase 2 APEX Trial Evaluating Bezuclastinib In Patients With Advanced Systemic Mastocytosis; Reported 52% ORR Per mIWG Criteria, Including 83% ORR For Patients Receiving 100 MG BID

Affimed N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AFMD#NASDAQ">AFMD</a>), a clinical-stage immuno-oncology company committed to giving patients back their innate ability to fight cancer, today announced the presentation of data in a poster session at the 66th ASH Annual Meeting and Exposition. The dataset includes 22 patients from the run-in phase of the LuminICE-203 (AFM13-203) phase 2 open-label, multicenter, multi-cohort study. The trial evaluates the safety and efficacy of the combination of acimtamig (AFM13) with Artiva Biotherapeutics' allogeneic NK cell AlloNK&#xAE; in patients with R/R cHL.
Acimtamig in combination with AlloNK&#xAE; demonstrated a high overall response rate (ORR) of 86% with complete response (CR) of 55%. All patients in the study were heavily pretreated with a median of 5 (range: 2-13) prior therapies. All patients had received intensive combination chemotherapy, PD(L)1 checkpoint inhibitors and brentuximab vedotin. In addition, about two third of the patients had also received a previous stem cell transplant. The combination regimen exhibited a well-managed safety profile with no unexpected safety signals. Importantly, no cases of graft-versus-host disease (GvHD) or immune effector cell-associated neurotoxicity syndrome (ICANS) were reported.

AFMD

Affimed Announced at ASH Meeting, Combination Of Acimtamig With AlloNK Demonstrated An Overall Response Rate Of 86%;  Complete Response Of 55% In 22 Heavily Pretreated Patients With Relapsed/Refractory Classical Hodgkin Lymphoma Who Have Exhausted All Standard Of Care Treatments

Bitcoin ETFs have now accumulated more Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) than the holdings of Bitcoin&#8217;s <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41869087/kiyosaki-aims-to-own-100-bitcoins-by-2025-i-wish-bitcoin-was-back-to-10-a-coin-but-wishing-has-never-made-poor-people-richer">pseudonymous creator Satoshi Nakamoto</a>.
What Happened: As of market close on Thursday, these&nbsp;ETFs collectively held 1,105,690 Bitcoin, valued at $110 billion, as per CoinGlass <a href="https://www.coinglass.com/bitcoin-etf">data</a>. This milestone was reached&nbsp;by 10 asset managers in&nbsp;the U.S., who began trading these products on January 11. The only exception was Grayscale&#8217;s Bitcoin Mini Trust.
Nakamoto, who vanished from the&nbsp;public eye in 2011, is estimated to have mined up to&nbsp;1.1 million Bitcoin in the&nbsp;project&#8217;s initial seven months. 
The recent surpassing of Nakamoto&#8217;s holdings by Bitcoin ETFs marks a significant moment in the asset&#8217;s history.
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42155010/bitcoins-bull-run-betting-on-a-125k-finish-to-2024">Bitcoin&#8217;s Bull Run: Betting On A $125K Finish To 2024</a>
In a post on X, Bloomberg ETF analyst Eric Balchunas described this development as &#8220;mind-blowing&#8221;, highlighting that these products achieved this feat in less than a year. Balchunas had previously projected that these Wall Street products could surpass Nakamoto&#8217;s holdings by Christmas.
<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">KING OF THE HILL: The US spot ETFs have just passed Satoshi in total bitcoin held, now hold more than 1.1m, more than anyone in the world, and they&#39;re not even a year old yet, literally babies still. Mind blowing. h/t <a href="https://twitter.com/EdmondsonShaun?ref_src=twsrc%5Etfw">@EdmondsonShaun</a> for the data <a href="https://t.co/FQBIGGz5ei">pic.twitter.com/FQBIGGz5ei</a>
&mdash; Eric Balchunas (@EricBalchunas) <a href="https://twitter.com/EricBalchunas/status/1865012801997087105?ref_src=twsrc%5Etfw">December 6, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
BlackRock, the world&#8217;s largest asset manager, has been a significant player in this burgeoning market. Its iShares Bitcoin Trust (IBIT) alone holds 521,000 Bitcoin, worth $50 billion.
Why It Matters: Bitcoin ETFs&#8217; surpassing of Nakamoto&#8217;s holdings underscores the rapid growth and acceptance of these products in the financial market. This development also signifies the increasing institutional interest in Bitcoin and other cryptocurrencies, marking a shift from traditional investment avenues.
BlackRock&#8217;s dominant role in this market further emphasizes the growing acceptance of Bitcoin ETFs by major financial institutions. The rapid accumulation of Bitcoin by these ETFs could potentially influence the digital currency&#8217;s price and overall market dynamics.
With Bitcoin ETFs achieving this milestone in less than a year, it remains to be seen how this market will evolve and what impact it will have on the broader cryptocurrency landscape.
Read Next
<a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42049183/heres-how-a-bitcoin-whale-nets-179m-from-a-120-investment" target="_blank" rel="noreferrer noopener">Here's How A Bitcoin Whale Nets $179M From A $120 Investment</a>

$BTC

Bitcoin ETFs Have Outstripped Satoshi Nakamoto's Holdings

Results from the AMPLIFY Phase III trial showed AstraZeneca's Calquence (acalabrutinib) in combination with venetoclax&nbsp;demonstrated a statistically significant and clinically meaningful improvement in progression-free survival (PFS) compared to standard-of-care chemoimmunotherapy in previously untreated adult patients with chronic lymphocytic leukaemia (CLL).
These results will be presented at the American Society of Hematology (ASH) 2024 Annual Meeting in San Diego, CA.
At a median follow up of 41 months, results showed Calquence plus venetoclax reduced the risk of disease progression or death by 35% compared to standard-of-care chemoimmunotherapy (hazard ratio [HR] 0.65; 95% confidence interval [CI] 0.49-0.87; p=0.0038). Calquence plus venetoclax with obinutuzumab demonstrated a 58% reduction in the risk of disease progression or death compared to standard-of-care chemoimmunotherapy (HR 0.42; 95% CI 0.30-0.59; p&lt;0.0001). Median PFS was not reached for either experimental arm versus median PFS of 47.6 months for chemoimmunotherapy.

AstraZeneca Announced Fixed-duration Calquence Plus Venetoclax Demonstrated Superior PFS Vs. Standard Of Care In Previously Untreated CLL, With 77% Of Patients Progression Free At Three Years In AMPLIFY Phase III Trial At ASH Meeting

Johnson &amp; Johnson (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNJ#NYSE">JNJ</a>) today announced data from&nbsp;the Phase 3 AQUILA study showing that DARZALEX FASPRO&#xAE; (daratumumab and hyaluronidase-fihj) significantly delayed progression from high-risk smoldering multiple myeloma (SMM) to active multiple myeloma (MM) and extended overall survival compared to the current standard of care of active monitoring.&nbsp;The data were presented for the first time as an oral presentation at the 2024 American Society of Hematology (ASH) Annual Meeting (<a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4320032-1&amp;h=2380629267&amp;u=https%3A%2F%2Fash.confex.com%2Fash%2F2024%2Fwebprogram%2FPaper201057.html&amp;a=Abstract+%23773">Abstract #773</a>), as part of the Press Program and were selected for the Best of ASH session.&nbsp;
In the AQUILA study, 194 patients received DARZALEX FASPRO&#xAE; and 196 patients were actively monitored per current standard of care treatment for high-risk SMM. At a median follow-up of 65.2 (range, 0-76.6) months, patients who received DARZALEX FASPRO&#xAE; showed statistically significant improved progression-free survival (PFS; defined as progression to active MM as assessed according to International Myeloma working Group (IMWG) diagnostic criteria for MM [SLiM-CRAB] or death) than the active monitoring group; 63.1 percent versus 40.8 percent of patients remained progression-free at 60 months (hazard ratio [HR], 0.49; 95 percent confidence interval [CI], 0.36-0.67; P&lt;0.001). Among patients who were retrospectively categorized as having high-risk SMM per the current Mayo 2018 criteria (20/2/20), median progression-free survival was not reached in the DARZALEX FASPRO&#xAE; arm and was 22.1 months in the active monitoring arm (HR, 0.36; 95 percent CI, 0.23-0.58). Overall survival was also extended with DARZALEX FASPRO&#xAE;, with 5-year survival rates of 93 percent versus 86.9 percent for active monitoring (HR, 0.52; 95 percent CI, 0.27-0.98).1

Johnson & Johnson Announced Darzalex Faspro Shows Significantly Delayed Progression To Active Multiple Myeloma For Patients With High-risk Smoldering Multiple Myeloma At ASH

<a href="https://www.wsj.com/business/media/advertising-firms-omnicom-and-interpublic-nearing-merger-that-would-reshape-industry-a2dd2286" title="https://www.wsj.com/business/media/advertising-firms-omnicom-and-interpublic-nearing-merger-that-would-reshape-industry-a2dd2286">https://www.wsj.com/business/media/advertising-firms-omnicom-and-interpublic-nearing-merger-that-would-reshape-industry-a2dd2286</a>

The Wall Street Journal Reported Sunday, Omnicom In Advanced Talks To Merge With Interpublic; Deal Could Value Interpublic At $13B-$14B

The advisory landscape is undergoing a fundamental transformation that demands immediate action <a href="https://www.benzinga.com/personal-finance/financial-advisors/24/12/42258875/how-to-bridge-the-financial-product-knowledge-gap-drive-business">from financial advisors. </a>
While firms like Creative Planning have achieved remarkable $16 billion valuations, traditional business models face mounting challenges that require strategic adaptation, Financial Advisor Magazine <a href="https://www.fa-mag.com/news/business-models-of-the-future-80442.html">argues</a> in a new article.
Client retention, long considered a strength of advisory firms, may be more precarious than assumed. Research from CEG Insights and J.D. Power suggests that current retention rates stem more from bull market conditions and client inertia than genuine loyalty. This vulnerability is compounded by the impending generational wealth transfer, with 41% of advisors viewing inheritance-related asset shifts as an existential threat.
Forward-thinking advisors must pivot toward serving younger, high-earning clients in their 30s who seek fundamentally different services. These emerging affluent clients require guidance on compensation negotiations, stock options, debt management, and business development. While potentially less profitable initially, establishing relationships with this demographic now positions advisors for substantial recurring revenue growth in the coming decades.
The market is evolving toward specialized service models based on client net worth and specific needs. Ultra-affluent clients ($25M+) demand comprehensive family office services, while the &#8220;merely affluent&#8221; ($5M-$25M) prefer à la carte offerings. Successful firms will need to choose their focus area, whether it&#8217;s building 401(k) platforms with wealth management capabilities, specializing in specific professions, or serving the broader middle class.
Healthcare planning has emerged as a critical service area, with 68% of ultra-high-net-worth investors identifying it as a primary concern. Advisors must forge strategic partnerships with healthcare professionals to deliver concierge medicine services. Additionally, entrepreneurial clients increasingly seek advisors who can assist not just with wealth management but wealth creation, requiring expertise in startup management, business valuation, and succession planning.
The key message for advisors is clear: the era of being all things to all people is ending. Success in 2035 and beyond will require selecting a specific focus area, developing deep expertise, and delivering demonstrably superior value in that niche. Advisors must begin this transformation now to remain relevant and competitive in the evolving advisory landscape.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/management/24/12/42373168/ceos-bulk-up-on-security-mark-zuckerberg-outspent-sundar-pichai-elon-musk-before-unitedhealthcare-ceo-killing">CEOs Bulk Up On Security: Mark Zuckerberg Outspent Sundar Pichai, Elon Musk Before UnitedHealthcare CEO Killing</a></li>
</ul>
Photo: Shutterstock

Financial Advisors

Set Your Advisory Business Up For Success In 2025

When Mark Cuban was asked about his favorite <a href="https://www.benzinga.com/startups/24/11/41869153/mark-cuban-reveals-regrettable-shark-tank-deal-that-drives-him-crazy-was-a-chocolate-covered-pretzel-company-who-offered-free-shipping">Shark Tank investment</a> during an interview on Good Morning America, he didn't hesitate: DUDE Wipes. In an Instagram reel posted in October, Cuban joked, "We all gotta wipe, right?" He added, "Everything's a potty joke to them. Business is great. They're killing it. They're gonna do one-hundred-plus million dollars this year. So wipe early, wipe often."
<a href="https://www.instagram.com/reel/DBJXztgC5jf">https://www.instagram.com/reel/DBJXztgC5jf</a>
Don't Miss:
<ul>
<li>Deloitte's fastest-growing software company partners with Amazon, Walmart &amp; Target – <a href="https://www.benzinga.com/money/mode-mobile-2">Last Chance to get 4,000 of its pre-IPO shares for just $0.26/share!</a></li>
<li>The global games market is projected to generate $272B by the end of the year —<a href="https://www.benzinga.com/money/gameflip"> for $0.55/share, this VC-backed startup with a 7M+ userbase gives investors easy access to this asset market.</a></li>
</ul>
That offbeat humor is at the core of DUDE Wipes' success. Launched in 2011 by childhood friends from the Chicago suburbs – Sean Riley, Ryan Meegan and Jeffrey Klimkowski – the company has gone from a quirky idea to a serious disrupter in the $11 billion toilet paper industry. In 2023 alone, the brand raked in $110 million in revenue, up from $70 million the year before and now holds a 1% market share in a space dominated by giants like Kimberly-Clark and Procter &amp; Gamble.
The concept of DUDE Wipes started as a simple hack: Riley stocked their shared apartment bathroom with baby wipes. The roommates realized that while traditional toilet paper wasn't cutting it, baby wipes, let alone men, weren't marketed for adults.
From that lightbulb moment, they sketched their prototype, pooled together $30,000 in savings and ordered their first batch of wipes. With just $5,000 left for marketing, they began handing out samples at college campuses, music festivals and fraternity houses.
See Also: It&#8217;s no wonder Jeff Bezos holds over $70 million in art — <a href="https://www.benzinga.com/money/masterworks">this alternative asset has outpaced the S&amp;P 500 since 1995, delivering an average annual return of 11.4%. Here&#8217;s how everyday investors are getting started.</a>
"We didn't have any money for marketing, but we had a product," Riley explained.
DUDE Wipes got its <a href="https://www.benzinga.com/startups/24/10/41381749/shark-tanks-oleary-on-tough-love-fiancee-is-easier-to-replace-than-a-thriving-business">big break on Shark Tank</a> in 2015. With their bold pitch – telling <a href="https://www.benzinga.com/personal-finance/24/11/42248381/mark-cuban-insists-credit-cards-are-not-your-friend-and-proposes-taking-out-a-personal-loan-for-expenses-instead-is-this-a-smart-move">Mark Cuban</a> that his "a&#x2A;&#x2A; hates him" for using dry toilet paper – they secured a $300,000 investment for 25% of the company. Cuban's investment remains the only outside funding they've ever taken.
Fast forward to today and DUDE Wipes is now a staple in over 20,000 stores, including Walmart, Target and Kroger. This year, they expanded to Sam's Club and Costco. They've also doubled down on irreverent marketing, including Super Bowl billboards poking fun at pop culture figures like Taylor Swift ("It's me. Hi. I'm the solution. It's me. Not TP.") and Travis Kelce ("We love a clean tight end, too.").
"They created a culture and community around the product that is fun," Cuban said, according to a May Forbes article.
DUDE Wipes doesn't just rely on potty humor – it also relies on smart strategy. Despite their rapid growth, the founders have kept their operations lean, with just over 20 employees. They outsource manufacturing to an Arkansas facility shared with their competitors and they've stayed laser-focused on their core product, shelving plans for DUDE-themed deodorants and body washes.
Trending: Studies show 50% of consumers think Financial Advisors cost much more than they do —<a href="https://www.benzinga.com/money/money-pickle"> to debunk this, this company provides matching for free and a complimentary first call with the matched advisor.</a>
This simplicity has allowed them to scale profitably. The company, profitable since 2016, projects $500 million in annual sales within the next five years. "We were absolutely insane to go from $0 to $100 million," Klimkowski said in the Forbes article. "Based on the new distribution alone, we'll get to $500 million."
Despite the male-centric branding, about 50% of DUDE Wipes' customers are women, who say the product simply cleans better than traditional toilet paper.
"It's a simple and cheap product built around a fairly radical concept," Meegan said. "Toilet paper doesn't fully get the job done."
So, what's next for DUDE Wipes?
With ambitious goals of reaching $1 billion in annual sales, the founders know that increasing household adoption is the next big challenge. For now, they're focused on expanding into new markets, introducing the brand to more consumers and continuing to embrace their irreverent, fun-loving approach to marketing.
As Cuban put it: "They're killing it." And with their sights set on the billion-dollar mark, DUDE Wipes isn't slowing down anytime soon.
Read Next:
<ul>
<li>Inspired by Uber and Airbnb &#8211; Deloitte's fastest-growing software company is transforming 7 billion smartphones into income-generating assets &#8211; <a href="https://www.benzinga.com/money/mode-mobile-2">with $1,000 you can invest at just $0.26/share!</a></li>
<li>If there was a new fund backed by Jeff Bezos offering a <a href="https://www.benzinga.com/money/arrived-private-credit-fund">7-9% target yield with monthly dividends would you invest in it</a>?</li>
</ul>

Mark Cuban's Favorite Shark Tank Product Was Created Just For 'Dudes' And Is Raking In Over $100 Million A Year: 'Wipe Early, Wipe Often'

Former Treasury Secretary Larry Summers has dismissed the idea of a national Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) reserve as &#8220;crazy&#8221; amidst ongoing deliberations in Congress <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/40001426/trump-aims-to-make-us-crypto-capital-of-the-planet-well-get-it-done">and the crypto industry</a>.
What Happened: In an interview with Bloomberg on Friday, Summers voiced his doubts about the feasibility of a national bitcoin reserve. He opined that although he feels cryptocurrencies have been excessively regulated, the concept of a national bitcoin reserve doesn&#8217;t hold water.
&#8220;There are probably respects in which crypto has been over-regulated by overzealous regulators. But some of what is being said, this idea that we should have some kind of national bitcoin reserve, is crazy,&#8221; Summers <a href="https://www.youtube.com/watch?v=YqcmON_WmjE">told</a> the outlet.
While President-elect Donald Trump has not officially announced such a plan, his pledge to refrain from selling U.S.-owned Bitcoin has fueled speculation about a larger initiative.
Crypto enthusiasts are optimistic that the government might increase its bitcoin purchases, which could potentially contribute to paying off U.S. debt, assuming bitcoin&#8217;s price continues to ascend.
Also Read: <a href="https://www.benzinga.com/news/23/02/30722528/larry-summers-says-soft-landing-looks-more-possible-unemployment-vs-inflation">Larry Summers Says Soft Landing &#8216;Looks More Possible&#8217;: Unemployment Vs. Inflation</a>
A bill proposing the creation of a bitcoin reserve is currently under consideration after being introduced by Sen. Cynthia Lummis (R-Wyo.). The proposed legislation suggests that bitcoin purchases could be financed by selling Fed-held gold certificates.
However, Summers countered that&nbsp;there are no strategic reasons&nbsp;for the government to amass Bitcoin, unlike oil or gold. He questioned the logic behind supporting bitcoin prices by accumulating a &#8220;sterile inventory.&#8221;
&#8220;Of all the prices to support, why would the government choose to support by accumulating a sterile inventory a bunch of Bitcoin. There&#8217;s no reason to do that, other than to pander to generous special interest campaign contributors,&#8221; he added. 
Why It Matters: The ongoing discussions reflect a shift in attitudes towards cryptocurrencies among lawmakers. 
Trump has been labeled&nbsp;the first &#8220;crypto president&#8221; and&nbsp;has received substantial contributions from the industry. Despite his skepticism, Summers conceded that there are valid reasons for the incoming administration to adopt a pro-crypto stance.
Read Next
Scaramucci: Bitcoin Is a Volatile Asset, But &#8216;Ready for Prime Time Institutional Investing&#8217;
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.

Larry Summers: National Bitcoin Reserve 'Crazy'

Politics

Legal

General

President-Elect Trump Said He Aims To Deport All Immigrants In The U.S. Illegally Over His Four-year Term; Pledges To End U.S. Birthright Citizenship On His First Day In Office; Signals Future Deal To Protect 'Dreamer' Immigrants - NBC's Meet The Press

President Elect Trump Said He Absolutely Would Consider Exiting NATO -NBC's Meet The Press

President-Elect Trump Said He Can't Guarantee Americans Won't Pay More As A Result Of Tariffs -NBC's Meet The Press

CORT

President-Elect Trump Said He Will Not Restrict The Availability Of Abortion Pills -NBC's Meet The Press

Billionaire entrepreneur <a href="https://www.benzinga.com/startups/24/11/42235738/in-just-16-months-elon-musk-achieved-with-xai-what-took-openai-nearly-nine-years-to-accomplish">Elon Musk</a> sparked debate recently after posting a poll on X about the Internal Revenue Service's (IRS) funding. Musk asked users if the IRS's budget should be "increased, same, decreased, or deleted." Of the 212,000 respondents, 60.6% voted to "delete" the agency's funding entirely.
Musk, appointed colead of the informal <a href="https://www.benzinga.com/general/health-care/24/11/41849583/bill-ackman-says-hed-consider-joining-elon-musks-department-of-government-efficiency-under-trump">Department of Government Efficiency</a> under President-elect Donald Trump, shared the poll following recent remarks by Deputy Treasury Secretary Wally Adeyemo. Adeyemo had urged Congress to unlock $20 billion in withheld IRS funding, warning that without these resources, the agency may face significant operational challenges.
Don't Miss:
<ul>
<li><a href="https://www.benzinga.com/money/are-you-rich">Are you rich?</a> Here&#8217;s what Americans think you need to be considered wealthy.</li>
<li><a href="https://www.benzinga.com/money/cd-valet-growth">CD Popularity Soars: Over 50 Million Americans Embrace Safe Savings with 5–10% Annual Growth</a></li>
<li>Can you guess how many retire with a $5,000,000 nest egg? <a href="https://www.benzinga.com/money/5mil-nest-egg-adv">The percentage may shock you</a>.</li>
</ul>
"The IRS just said it wants $20B more money," Musk wrote. He then asked users to weigh in on its budget. The results showed strong opposition to increased funding:
<ul>
<li>Deleted: 60.6%</li>
<li>Decreased: 29.9%</li>
<li>Same: 3.9%</li>
<li>Increased: 5.6%</li>
</ul>
The poll results reflect frustrations expressed by many users, with calls for alternatives like a flat-tax system gaining traction.
The IRS faces uncertainty over its budget as Congress approaches a Dec. 20 deadline to finalize full-year appropriations. Temporary budget measures passed in September held the agency's funding at current levels but required the IRS to postpone $20 billion from the <a href="https://www.benzinga.com/24/12/42270592/pharma-pushes-to-revise-medicare-drug-price-negotiation-law-under-trump-administration">Inflation Reduction Act</a>'s allocated funds.
See Also: Inspired by Uber and Airbnb &#8211; Deloitte's fastest-growing software company is transforming 7 billion smartphones into income-generating assets &#8211; <a href="https://www.benzinga.com/money/mode-mobile-2">with $1,000 you can invest at just $0.26/share!</a>
Deputy Secretary Adeyemo warned that without additional resources, the IRS might need to halt hiring and cut back enforcement efforts. He noted that failure to secure the funds could lead to a $140 billion increase in the national deficit due to reduced audits on wealthier taxpayers and large corporations.
"The IRS is going to potentially have to make dramatic decisions about stopping hiring and starting to budget for a world which they don't have $20 billion which will stop a lot of their progress," Adeyemo said during a press call.
Maya MacGuineas, president of the nonpartisan Committee for a Responsible Federal Budget, also voiced concerns, stating, "Given the fiscal situation, we deeply hope there is no backsliding in the coming months and years with rescinding, diverting, repealing any of the revenue that is going effectively into the IRS to help with tax collection."
Trending: The number of ‘401(k)' Millionaires is up 43% from last year —<a href="https://www.benzinga.com/money/401k-millionaires"> Here are three ways to join the club.</a>
The discussion over <a href="https://www.benzinga.com/personal-finance/24/09/40856616/irs-reclaims-1-3-billion-in-back-taxes-from-wealthy-americans-is-this-just-the-beginning">IRS funding</a> has been polarizing. Supporters argue that the additional $80 billion allocated through the Inflation Reduction Act is essential to modernizing operations and improving tax compliance, particularly among high-income earners. Critics, including Musk and others in the Trump administration, see the agency's budget as an opportunity for cost-cutting.
Musk and his colead Vivek Ramaswamy have pledged to slash government spending, aiming to reduce the federal budget by $2 trillion. Congressional Republicans have also proposed cuts to IRS enforcement, which critics say could hinder efforts to close the tax gap.
As the Dec. 20 deadline approaches, the debate over IRS funding will likely intensify. Whether Congress will restore the $20 billion or continue with reduced funding remains uncertain, but the agency's ability to operate efficiently hangs in the balance.
For taxpayers, the outcome could influence enforcement activities, the national deficit, and broader fiscal policy in the years to come.
Read Next:
<ul>
<li>Many are using this retirement income calculator to check if they&#8217;re on pace —<a href="https://www.benzinga.com/money/how-do-i-calculate-my-retirement-income-adv"> here&#8217;s a breakdown on what&#8217;s behind this formula.</a></li>
<li>Studies show 50% of consumers think Financial Advisors cost much more than they do —<a href="https://www.benzinga.com/money/money-pickle"> to debunk this, this company provides matching for free and a complimentary first call with the matched advisor.</a></li>
</ul>

Elon Musk Asks If IRS Funding Should Be 'Deleted' – More Than 60% of Respondents Said 'Yes'

President-Elect Trump Said He Will Act On Pardoning Jan. 6 Defendants On His First Day In Office - NBC's Meet The Press

<a href="https://www.nbcnews.com/meet-the-press/video/december-8-president-elect-donald-trump-226494533816" title="https://www.nbcnews.com/meet-the-press/video/december-8-president-elect-donald-trump-226494533816">https://www.nbcnews.com/meet-the-press/video/december-8-president-elect-donald-trump-226494533816</a>
<a href="https://www.nbcnews.com/meet-the-press/video/december-8-president-elect-donald-trump-226494533816" title="https://www.nbcnews.com/meet-the-press/video/december-8-president-elect-donald-trump-226494533816">https://www.nbcnews.com/meet-the-press/video/december-8-president-elect-donald-trump-226494533816</a>

Economics

Federal Reserve

President-Elect Trump Sunday On NBC's Meet The Press, Said Says He Does Not Have Plans Now To Ask Jerome Powell To Step Down As Fed Chairman

These ten Mid-cap stocks were the best performers in the last week. Are they in your portfolio?
<ol>
<li>Nebius Group N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NBIS#NASDAQ">NBIS</a>) shares rocketed 67.21% after Citron Research highlighted the company's potential to become the next artificial <a href="https://www.benzinga.com//node/42307579" target="_blank" rel="noreferrer noopener">intelligence sensation on Wall Street</a>.</li>
<li>SoundHound AI, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOUN#NASDAQ">SOUN</a>) stock jumped 61.22% after the company announced the deployment of its voice AI Smart Ordering system <a href="https://www.benzinga.com//node/42348247" target="_blank" rel="noreferrer noopener">at all 130 Torchy's Tacos locations</a>.</li>
<li>Bitdeer Technologies Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BTDR#NASDAQ">BTDR</a>) stock escalated 47.23%. The company announced a Bitcoin (CRYPTO: BTC) <a href="https://www.benzinga.com//node/42342253" target="_blank" rel="noreferrer noopener">production and operations update</a>. Analysts raised <a href="https://www.benzinga.com/quote/btdr/analyst-ratings" target="_blank" rel="noreferrer noopener">the price forecast on the stock</a>.</li>
<li>Asana, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ASAN#NYSE">ASAN</a>) rose 44.94% after the company reported better-than-expected financial results and several <a href="https://www.benzinga.com//node/42369344" target="_blank" rel="noreferrer noopener">analysts boosted the price forecast</a> on the stock.</li>
<li>Janux Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JANX#NASDAQ">JANX</a>) stock upped 43.75% after the company announced updated interim clinical data for its <a href="https://www.benzinga.com//node/42294918" target="_blank" rel="noreferrer noopener">JANX007 program in prostate cancer</a>. Analysts raised the price <a href="https://www.benzinga.com/quote/janx/analyst-ratings" target="_blank" rel="noreferrer noopener">forecast on the stock</a>.</li>
<li>NovoCure Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVCR#NASDAQ">NVCR</a>) stock rose 39.52% after the company announced its Phase 3 PANOVA-Trial met its primary endpoint and demonstrated a statistically significant improvement <a href="https://www.benzinga.com//node/42268730" target="_blank" rel="noreferrer noopener">in its median overall survival rate</a>.</li>
<li>Kingsoft Cloud Holdings Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KC#NASDAQ">KC</a>) stock was up 38.27%.</li>
<li>Victorias Secret &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VSCO#NYSE">VSCO</a>) stock jumped 23.64% after the company <a href="https://www.benzinga.com//node/42365539" target="_blank" rel="noreferrer noopener">reported better-than-expected third-quarter results</a>. Analysts raised <a href="https://www.benzinga.com/quote/vsco/analyst-ratings" target="_blank" rel="noreferrer noopener">the price forecast on the stock</a>.</li>
<li>Zeta Global Holdings Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZETA#NYSE">ZETA</a>) stock grew 22.91% last week after the company announced a 108% year-over-year usage increase for its marketing platform <a href="https://www.benzinga.com//node/42325352" target="_blank" rel="noreferrer noopener">from Thanksgiving to Cyber Monday</a>.</li>
<li>Five Below, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FIVE#NASDAQ">FIVE</a>) gained 21.61% after the company reported better-than-expected third-quarter results and <a href="https://www.benzinga.com//node/42349581" target="_blank" rel="noreferrer noopener">several analysts boosted the price forecast</a> on the stock.</li>
</ol>
Photo: Courtesy Victoria&#8217;s Secret

Mid Cap

Movers

Trading Ideas

ASAN

BTDR

FIVE

JANX

NBIS

NVCR

SOUN

VSCO

ZETA

SoundHound, Asana And Victorias Secret Are Among Top 10 Mid Cap Gainers Last Week (Dec 2-Dec 6): Are The Others In Your Portfolio?

The past week has been a whirlwind in the electric vehicle sector, with significant developments involving major players like&nbsp;Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>),&nbsp;Rivian Automotive Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>), and&nbsp;Lucid Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LCID#NASDAQ">LCID</a>). From legal battles to production milestones, here&#8217;s a look at the stories that shaped the weekend.
&#8216;Big Short&#8217; Trader Danny Moses Exits Tesla Short
Moses Ventures&nbsp;founder and famed trader Danny Moses has decided to cease shorting&nbsp;Tesla. Moses, known for his role in &#8220;The Big Short,&#8221; had been betting against Tesla since its acquisition of SolarCity in 2016, which he criticized as a poor decision. However, he noted that Tesla began trading based on fundamentals earlier this year, making it challenging to maintain a short position.
<a href="https://www.benzinga.com/24/12/42311290/trader-danny-moses-says-he-is-no-longer-shorting-tesla">Read the full article here.</a>
Cathie Wood Criticizes Delaware Judge Over Musk&#8217;s Pay Plan
Ark Invest&nbsp;CEO&nbsp;Cathie Wood&nbsp;has strongly opposed a Delaware judge&#8217;s decision to nullify&nbsp;Elon Musk&#8216;s $56 billion compensation package for the second time. Wood labeled Judge Kathaleen McCormick as an &#8220;activist judge,&#8221; arguing that the ruling undermines shareholder voting rights, which had twice approved the package with significant support.
<a href="https://www.benzinga.com/markets/equities/24/12/42281410/cathie-wood-slams-delaware-judge-as-activist-over-elon-musks-56b-pay-plan-block-tesla-warns-of-shareholder-rights-crisis-amid-appeal">Read the full article here.</a>
See Also:&nbsp;<a href="https://www.benzinga.com/24/12/42348885/whats-going-on-with-nio-stock-today?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">What&#8217;s Going On With NIO Stock Today?</a>
Rivian Customers Show Strong Brand Loyalty
A survey by Consumer Reports reveals that&nbsp;Rivian Automotive&nbsp;customers are highly satisfied, with 86% indicating they would purchase from the brand again. This marks the second consecutive year Rivian has topped the car brand satisfaction list, thanks to its popular R1T electric truck and R1S electric SUV.
<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">Read the full article here.</a>
Tesla&#8217;s Cybertruck Faces Challenges Despite Strong Sales
A year after&nbsp;Tesla began delivering the Cybertruck, the vehicle has become the third-best-selling EV in the U.S., trailing only the Model Y and Model 3. Despite selling 28,250 units by September, the Cybertruck still has a long way to go to meet&nbsp;Elon Musk&#8216;s ambitious goals.
<a href="https://www.benzinga.com/24/12/42262279/a-year-after-teslas-first-cybertruck-deliveries-the-truck-has-a-long-way-to-go-to-meet-musks-goals">Read the full article here.</a>
Lucid Begins Production Of Gravity SUV
Lucid Group Inc.&nbsp;has started production of its second vehicle, the Gravity SUV, at its Arizona facility. The company announced this milestone with a social media post featuring CEO&nbsp;Peter Rawlinson&nbsp;driving the new SUV. This move positions Lucid to compete directly with Tesla&#8217;s Model X.
<a href="https://www.benzinga.com/tech/24/12/42357174/lucid-kicks-off-gravity-suv-production-to-take-on-teslas-model-x">Read the full article here.</a>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/tech/24/12/42333921/elon-musk-lauds-ro-khanna-calls-him-a-sensible-moderate-after-california-democrat-calls-out-gavin-newsoms-exclusion-of-tesla-from-ev-credit-policy?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Lauds Ro Khanna, Calls Him A &#8216;Sensible Moderate&#8217; After California Democrat Calls Out Gavin Newsom&#8217;s Exclusion Of Tesla From EV Credit Policy</a></li>
</ul>
Photo courtesy: Pixabay
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/ananya-gairola" target="_blank" rel="noreferrer noopener">Ananya Gairola</a>

Comments

(WEEUF) Forecast

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

Popular Channels

Tools & Features

Partners & Contributors

About Benzinga