Bolt Projects Holdings Bolsa (NASDAQ: BSLK)

Últimas noticias sobre Bolt Projects Holdings (NASDAQ:BSLK) Bolsa

Bolt Projects Holdings

Bolt Projects Holdings Inc formerly Golden Arrow Merger Corp is an shell company.

ABNB

BLAC

BSLK

CNSP

FFIE

INFA

JRSH

MBRX

MYNA

PCLA

SLSR

STAI

STVN

VRPX

ZCAR

Airbnb supera expectativas de ingresos y sus acciones suben un 13,9% en premercado. Descubre qué otros valores están destacando hoy.

Acciones de Airbnb (ABNB) suben alrededor del 14%; 20 acciones que se mueven en el premercado de EE.UU.

Bolt Projects Holdings, Inc. - Common Stock

Bolt Projects Holdings Inc

Billionaire investor Ray Dalio recently expressed grave concerns <a href="https://www.benzinga.com/news/24/12/42257531/heres-how-ray-dalio-thinks-trumps-second-term-could-reshape-the-us-and-the-world">over the escalating U.S. federal debt</a>.
What Happened: Dalio shared his apprehensions at the World Government Summit in Dubai on Thursday. He drew a comparison between the burgeoning $36 trillion national debt and plaque clogging the arteries of the U.S. financial system.
Dalio foresees the possibility of an &#8220;economic heart attack&#8221; within the next three years if the issue is not promptly addressed.
Dalio predicts that&nbsp;if President Donald Trump&#8216;s tax cuts&nbsp;persist, the U.S.&nbsp;will run a deficit of&nbsp;about 7.5% of GDP. He urged&nbsp;the White House and Congress&nbsp;to pledge to reduce&nbsp;the deficit to 3% of&nbsp;GDP within the next three years.
According to the report <a href="https://fortune.com/2025/02/13/trump-national-debt-fiscal-deficit-economic-heart-attack-ray-dalio-bridgewater-hedge-fund/">by</a> Fortune, with the recent surge in inflation, bond investors may demand higher premiums to hold fixed-income securities such as sovereign debt. This could further strain the government spending allocated for servicing the national debt.
"When I calculate the supply and demand over the next year and three years. we have an immediate issue," said Dalio.&nbsp;
Also Read: <a href="https://www.benzinga.com/tech/25/02/43420604/ray-dalio-predicts-chinas-rise-in-ai-chinese-are-a-bit-behind-in-the-chips-but-theyre-ahead-in-the-applications">Ray Dalio Predicts China&#8217;s Rise in AI: Chinese &#8216;Are a Bit Behind in the Chips, But They&#8217;re Ahead in the Applications&#8217;</a>
Dalio is apprehensive that the bond markets may soon be unable to absorb the increasing amount of Treasuries issued, leading to skyrocketing interest rates and a &#8220;debt death spiral&#8221;. He underscored the urgency of the situation, stating that the US government must act swiftly, even if it results in societal damage.
White House economic advisor Kevin&nbsp;Hassett unveiled plans to control inflation by increasing supply and reducing aggregate demand. However, Dalio contended that time is of the essence and drastic measures, including austerity, may be necessary.
Why It Matters: The escalating US fiscal deficit has been a cause for concern for some time now. Dalio&#8217;s warning serves as a grim reminder of the potential economic fallout if the issue is not addressed promptly. 
The U.S. government&#8217;s plans to control inflation might not be enough to prevent a &#8220;debt death spiral&#8221;, as Dalio calls it. The situation calls for immediate and drastic measures, even if they result in societal damage. 
The clock is ticking, and the U.S. government must act swiftly to avert an impending economic crisis.
Read Next
<a href="https://www.benzinga.com/markets/25/01/42805138/ray-dalios-timeless-advice-if-you-dont-own-gold-you-know-neither-history-nor-economics">Ray Dalio&#8217;s Timeless Advice: &#8216;If You Don&#8217;t Own Gold, You Know Neither History Nor Economics&#8217;</a>
Image: Shutterstock

News

Markets

Ray Dalio Warns of Looming US Debt Crisis, Says America Faces 'Economic Heart Attack' Without Fiscal Cuts

Despite Texas&#8217; reputation for affordability, its major cities lead the nation in non-mortgage debt, with Austin residents owing an average of $45,920, according to a LendingTree study.
The study, which examined credit reports of 210,000 users from April through June 2024, found San Antonio and Houston following closely behind Austin, with average non-mortgage debts of $44,812 and $44,640, respectively.&nbsp;
The national average among the 50 largest metropolitan areas is $37,827.
Don't Miss:
<ul>
<li><a href="https://www.benzinga.com/money/gbr-savings-by-age">If You're Age 35, 50, or 60: Here&#8217;s How Much You Should Have Saved Vs. Invested By Now</a></li>
<li>Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing —<a href="https://www.benzinga.com/money/boxabl"> you can become an investor for $0.80 per share today.</a></li>
</ul>
Auto loans drive much of the debt burden. San Antonio leads with an average auto loan debt of $18,303, followed by Austin at $17,144.
&#8220;You generally need a vehicle to get around the biggest cities in Texas. That puts many Texans in a tough position, especially with vehicle prices and interest rates at today&#8217;s sky-high levels,&#8221; Matt Schulz, LendingTree&#8217;s chief credit analyst, <a href="https://www.newsweek.com/texas-has-debt-problem-2027831">told Newsweek</a>.
While Texas maintains relatively affordable housing compared with coastal states, residents are facing high property tax burdens. WalletHub&#8217;s <a href="https://wallethub.com/edu/states-with-the-highest-and-lowest-property-taxes/11585">2024 property tax report</a> ranks Texas seventh-highest nationally, with average annual property taxes of $3,872.
Trending: The average American couple has saved this much money for retirement —<a href="http://www.benzinga.com/money/smartasset"> How do you compare</a>?
Low wages compound the debt problem. <a href="https://oxfamilibrary.openrepository.com/bitstream/handle/10546/621608/rr-2024-crisis-of-low-wages-090724-en.pdf">According to Oxfam</a>, nearly one-third of Texas workers—4.5 million people—earn less than $17 per hour. Texas remains among 20 states still using the federal minimum wage of $7.25.
&#8220;While Texas has been booming in recent years, salaries are still generally lower than those found in the biggest American cities, especially those along the coasts,&#8221; Schulz told Newsweek. He noted San Antonio&#8217;s particularly challenging situation as one of America&#8217;s lowest-income major cities.
Lower credit scores further strain Texas residents&#8217; finances. &#8220;That means fewer borrowing options, but it also means that if they&#8217;re able to get a loan, they&#8217;re likely to face higher interest rates and other costs,&#8221; Schulz added.
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>
Dallas ranks sixth nationally in non-mortgage debt at $43,901, following Miami and Atlanta but still exceeding the national average. Monthly mortgage payments in Texas average $2,182, ranking 16th nationally, according to LendingTree.
Despite the debt challenges, Realtor.com projects Texas will become America&#8217;s most populous state by 2045, driven by the same factors that sparked recent growth—job opportunities, affordable housing compared to coastal markets, and favorable weather conditions.&nbsp;
However, the benefits appear to favor out-of-state transplants more than local residents due to the state&#8217;s wage structure.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/money/mark-cubans-advice-for-lotto-winners">Many are surprised by Mark Cuban's advice for lotto winners: Cash or annuity?</a></li>
<li>Many are using retirement income calculators 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>
</ul>

Personal Finance

Texas' Debt Problem Is Getting Worse—Here's What's Driving It

Billionaire hedge fund manager Paul Tudor Jones voiced his apprehensions about the stability of financial markets during President Donald Trump&#8216;s second term.
What Happened: During an interview with CNBC earlier this month, Jones explained that the current financial environment is vastly different from when Trump initially assumed office in 2017. He observed significant changes in the fixed income, foreign exchange, and equity markets over the past eight years.
Jones pointed out&nbsp;that the Treasury is now&nbsp;issuing a record amount of&nbsp;debt, more than double the figure in 2017. Moreover, foreign&nbsp;ownership of U.S. equities, debt, and real estate has doubled as a percentage of GDP since 2017.
"We could have a 30% correction the stock market and just be back to slightly overvalued. I think Trump being Trump, I don't know if it will play as well as it did in 1.0 because there's no room for mistakes," he <a href="https://www.cnbc.com/2025/02/03/paul-tudor-jones-says-markets-on-shakier-ground-than-trumps-first-term-leaving-no-room-for-mistakes.html">told </a>the outlet. 
He also noted&nbsp;that the average price-to-earnings ratio&nbsp;of the S&amp;P 500 is currently around 25, compared to 19 in January 2017. Jones warned of a potential 30% correction in the stock market, which would only bring it back to being slightly overvalued.
Also Read: <a href="https://www.benzinga.com/news/25/02/43581792/mary-trump-slams-uncle-says-president-isnt-just-destroying-democracy-hes-handing-unchecked-power-to-people-like-elon-musk">Mary Trump Slams Uncle, Says President &#8216;Isn&#8217;t Just Destroying Democracy, He&#8217;s Handing Unchecked Power to People Like Elon Musk&#8217;</a>
After Trump imposed tariffs on&nbsp;several key U.S. trading partners, markets took a hit. However, stocks saw a slight recovery after Mexico&#8217;s president announced a pause in tariffs against the country.
"He's my president now, I pray he makes all the right decisions, because we are precariously perched from a macro standpoint. I don't think we've ever had as many things that are connected in circular and could go wrong. So it's going to take a maestro to pull this off in a way that kind of preserves where we are now in the major asset classes," Jones said. 
Why It Matters: Jones, who accurately predicted the 1987 stock market crash, urged caution. He stated that the current macroeconomic situation is precarious and will require careful management to maintain stability in major asset classes. 
His warning comes at a time when the financial landscape is undergoing significant changes, with the Treasury issuing record amounts of debt and foreign ownership of U.S. assets increasing.
The imposition of tariffs by Trump has already caused market fluctuations, and any further instability could lead to a significant market correction. 
As such, Jones&#8217; warning underscores the need for careful economic management in the coming years.
Read Next
<a href="https://www.benzinga.com/news/25/01/43077007/jeffrey-epstein-allegedly-offered-plea-deal-in-exchange-for-trump-info-if-i-can-give-them-something-on-trump-to-get-him-impeached">Jeffrey Epstein Allegedly Offered Plea Deal In Exchange For Trump Info: &#8216;If I Can Give Them Something On Trump To Get Him Impeached&#8217;</a>
Image: Shutterstock

Politics

Market Instability Looms in Trump's Second Term, Warns Paul Tudor Jones: 'There's No Room for Mistakes'

The popularity of cryptocurrency-based casinos continues to surge, attracting players with fast transactions, enhanced privacy, and innovative gaming features. But where is interest in crypto gambling the highest in 2025? 
What Happened: A new study by the <a href="https://casinospotfr.com/casinos-en-ligne/">CasinoSpotFR</a> analyzed search query data and Google Trends to pinpoint the regions most engaged with crypto casinos and the key factors fueling this growth.
According to <a href="https://ahrefs.com/">Ahrefs</a>, the monthly search volume for &#8220;crypto casino&#8221; in major countries is as follows: the United States leads with 7,500 searches, followed by Germany with 4,200, the United Kingdom with 3,100, Canada with 1,800, and France with 1,500 searches. 
However, adjusting these figures based on population size presents a different perspective. Germany has the highest search rate per capita at 50 searches per million people, while the UK follows closely with 46.27, just ahead of Canada at 46.15. 
The U.S., despite its large overall search volume, ranks lower on a per capita basis with 22.66 searches per million, slightly above France at 22.06. This indicates that while the U.S. shows strong absolute interest, European nations demonstrate a greater concentration of searches per person.
The landscape of cryptocurrency casinos has evolved significantly over the past two years. Global search interest in crypto casinos has risen by approximately 20–30%, reflecting the sector&#8217;s growing appeal. While Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) remains the primary cryptocurrency for gambling, more platforms are now integrating Tether (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">USDT</a>), Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>), and Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>) as viable payment options. 
Meanwhile, regulatory scrutiny has intensified, with some governments imposing stricter controls on crypto gambling. However, many players are adapting by utilizing VPNs and decentralized platforms to continue participating in online crypto gaming.
The data also highlights key differences in crypto casino interest worldwide. Germany and the UK display the strongest per-capita demand, indicating a thriving gaming culture despite regulatory challenges. Canada and France maintain steady engagement, while the U.S. dominates in absolute search volume. 
As legal landscapes shift, crypto gamblers are adjusting, relying on new payment methods and decentralized systems to sustain activity in the sector.
Crypto casinos have gained traction in financial markets, influencing major ETFs such as ProShares Bitcoin Strategy ETF and Amplify Transformational Data Sharing ETF, which reflect the sector's growing relevance in blockchain investment.
Image: Shutterstock

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

Cryptocurrency

$BTC

$ETH

$SOL

$USDT

BITO

BLOK

Germany and UK Show Highest Per-Capita Demand for Crypto Casinos

<a target="_blank" href="https://www.benzinga.com/crypto" rel="noreferrer noopener">Crypto industry</a> leaders are intensifying their fight against alleged debanking practices, which they claim have targeted digital asset firms under the Biden administration.
At a recent Senate hearing, executives, including Nathan McCauley, CEO of Anchorage Digital, testified about their struggles.
McCauley <a target="_blank" href="https://www.cnbc.com/2025/02/15/crypto-trump-gop-leadershipo-gang-up-on-fdic-over-debanking-.html" rel="noreferrer noopener">shared </a>with CNBC in an interview how his company, after years of banking relationships, suddenly had its account cut off with no warning or explanation in 2023, an experience echoed by other crypto firms facing similar challenges.
The industry has dubbed this alleged campaign &#8220;Operation Choke Point 2.0,&#8221; likening it to a prior Obama-era initiative that targeted banks associated with gun manufacturers and payday lenders, CNBC adds.
This time, however, the focus is on the crypto industry, with claims that U.S. regulators are pressuring financial institutions to sever ties with digital asset firms.
Also Read:<a target="_blank" href="https://www.benzinga.com/news/earnings/25/02/43756510/berkshire-hathaway-adjusts-portfolio-keeps-apple-stake-unchanged-offloads-stakes-in-bofa" rel="noreferrer noopener"> Berkshire Hathaway Adjusts Portfolio, Keeps Apple Stake Unchanged, Offloads Stakes in BofA</a>
Crypto executives have now found allies in Washington, especially among Republicans, who are now advocating for investigations into these debanking efforts.
Donald Trump has seized on the issue for political gain, claiming that banks like JP Morgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) and Bank of America Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>) have been politically motivated to debank conservative-aligned clients under regulatory pressure, CNBC adds.
Although banks have denied these claims, Trump&#8217;s rhetoric is gaining traction.
In Washington, Republicans like Sen. Rick Scott are voicing concerns over how financial institutions have cut off services to crypto businesses and conservative figures.
Meanwhile, McCauley highlighted the negative impacts on smaller crypto startups, forcing Anchorage to lay off 20% of its workforce and making it difficult for clients to send wire transfers.
The crypto industry has used its political influence to push back, with significant donations to pro-crypto PACs.
Trump&#8217;s executive order on crypto promises fair access to financial services, and the SEC is rolling back regulations that hinder banks from working with digital asset firms.
Additionally, the FDIC has faced pressure to revise its guidelines on crypto.
Recent high-profile incidents, like the forced closures of Silvergate and Signature Banks in 2023, have fueled concerns.
Signature Bank, particularly, was seen as sending an anti-crypto message, a sentiment shared by former Congressman Barney Frank.
With increasing influence, the crypto industry is navigating a shift in Washington, aligning itself with Trump and key figures like Elon Musk to push for more favorable conditions.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/25/02/43756457/benzinga-bulls-and-bears-apple-nvidia-netflix-and-trader-predicts-dogecoin-surge-by-march-24" target="_blank" rel="noreferrer noopener">Benzinga Bulls and Bears: Apple, Nvidia, Netflix and Trader Predicts Dogecoin Surge by March 24</a></li>
</ul>

Equities

General

Trump and Crypto Industry Team Up To Fight Biden's 'Debanking' War on Digital Asset Firms

Billionaire investor&nbsp;Bill Ackman&nbsp;has ramped up his stake in&nbsp;Nike&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NKE#NYSE">NKE</a>) by 15%, while simultaneously cutting back his investment in&nbsp;Chipotle Mexican Grill&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMG#NYSE">CMG</a>) by 14%, as per the recent 13F regulatory filing.
What Happened: Ackman&#8217;s firm,&nbsp;Pershing Square Capital Management, now holds&nbsp;18.8 million shares in Nike&nbsp;and 24.7 million shares in&nbsp;Chipotle. Pershing Square has been a Chipotle shareholder since 2016.
Ackman, known for his active involvement in companies like&nbsp;Canadian Pacific Kansas City&nbsp;and&nbsp;Air Products and Chemicals, has been relatively quiet in recent years. Nonetheless, his investment decisions continue to draw interest.
Over time, Pershing Square has been steadily decreasing&nbsp;its investment in Chipotle, one&nbsp;of its major success stories in recent years. As of June 30, the firm&nbsp;owned 28.8 million Chipotle shares.
The regulatory document 13F filing, also disclosed that Pershing Square trimmed its stake in&nbsp;Hilton Worldwide Holdings&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HLT#NYSE">HLT</a>)&nbsp;by 26% to 5.4 million&nbsp;shares. 
Also Read: <a href="https://www.benzinga.com/markets/24/12/42635629/bill-ackmans-advice-stay-away-from-shorting-stocks-avoid-commodity-sensitive-industries-and-you-do-great">Bill Ackman&#8217;s Advice: &#8216;Stay Away From Shorting Stocks, Avoid Commodity-Sensitive Industries, And You Do Great&#8217;</a>
The firm&#8217;s largest holding is investment company&nbsp;Brookfield,&nbsp;with roughly 35 million shares.
Why It Matters: This portfolio adjustment comes as Ackman&#8217;s firm continues to navigate the fluctuating market conditions. The decision to increase the stake in Nike could be seen as a vote of confidence in the sportswear giant&#8217;s growth prospects. 
On the other hand, the reduction in Chipotle and Hilton stakes might suggest a cautious approach towards the hospitality sector, which has been hit hard by the pandemic. 
These moves reflect Ackman&#8217;s strategy of balancing growth potential with risk management in his investment decisions.
Read Next
<a href="https://www.benzinga.com/news/24/07/40082441/bill-ackman-hits-pause-on-pershing-square-ipo-after-investors-hesitate">Bill Ackman Hits Pause On Pershing Square IPO After Investors Hesitate</a>
Image: Shutterstock

Earnings

Bill Ackman's Pershing Square Adjusts Portfolio, Trims Chipotle and Boosts Nike

The bond market&#8217;s conflicting pressures intensified Wednesday after <a href="https://www.benzinga.com/economics/macro-economic-events/25/02/43660298/inflation-spike-sparks-dollar-rally-yields-jump-while-bitcoin-stocks-slide-as-interest-rate-cut-doubts-grow">hotter-than-expected January inflation data</a> challenged earlier concerns about economic slowdown under President Donald Trump&#8216;s trade policies.
Consumer prices rose 3% year-over-year, exceeding expectations of 2.9% and marking the fourth consecutive increase in annual inflation. The monthly reading surged 0.5%, the largest increase since August 2023.
&#8220;There&#8217;s an underlying fear that growth might be slowing down,&#8221; Apollo Chief Economist Torsten Slok <a href="https://www.ft.com/content/d79cffed-d68f-4f4a-9a8c-31dcd60d5a5b">told the Financial Times</a> on Monday, citing trade war concerns. However, Wednesday&#8217;s inflation data shifted market focus back to price pressures.
Don't Miss:
<ul>
<li>BlackRock is calling 2025 the year of alternative assets. <a href="https://www.benzinga.com/money/masterworks">One firm from NYC has quietly built a group of 60,000+ investors who have all joined in on an alt asset class previously exclusive to billionaires like Bezos and Gates.</a></li>
<li><a href="https://www.benzinga.com/money/gbr-savings-by-age">If You're Age 35, 50, or 60: Here&#8217;s How Much You Should Have Saved Vs. Invested By Now</a></li>
</ul>
The U.S. dollar, which had slipped 0.4% since early January, reversed course with a 0.5% rally Wednesday. Treasury yields, which had dropped to 4.54% from January highs of 4.8%, jumped 10 basis points following the consumer price index report.
Traders now expect the Federal Reserve&#8217;s first rate cut to come no earlier than December, with a second cut priced for September 2026, according to <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">CME FedWatch data</a>. It's a shift from earlier market expectations. President Donald Trump <a href="https://truthsocial.com/@realDonaldTrump/posts/113991030846598649">on Truth Social</a> Wednesday called for lower interest rates, suggesting the move would complement his tariff policies. It comes as his administration <a href="https://www.benzinga.com/25/02/43450261/trump-trudeau-strike-border-security-deal-tariffs-on-canada-paused-for-at-least-30-days">delayed 25% tariffs on Mexico and Canada</a> while implementing 10% additional tariffs on Chinese imports.
Trending: Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing —<a href="https://www.benzinga.com/money/boxabl"> you can become an investor for $0.80 per share today.</a>
Core inflation, excluding food and energy, increased 3.3% year-over-year, exceeding forecasts of 3.1%. Among major CPI components, fuel oil jumped 6.2% month-over-month, while the index for meats, poultry, fish, and eggs rose 1.9%.&nbsp;
Egg prices alone surged 15.2%, the largest increase since June 2015, accounting for about two-thirds of the monthly food increase.&nbsp;
&#8220;If the Fed were truly committed to its 2% inflation target, market participants would be discussing a potential rate hike and not just a longer pause in the cutting cycle,&#8221; Allianz Chief Economic Adviser Mohamed El-Erian <a href="https://x.com/elerianm/status/1889675183578914888">said on X</a>.&nbsp;
The inflation data complicates the outlook for emerging markets, which had shown resilience against Trump&#8217;s trade policies. Since his second term began, the Chilean peso gained over 3%, while the Colombian peso and Brazilian real rose more than 6% against the dollar.
Read Next:
<ul>
<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>
<li>The secret weapon in billionaire investor portfolios that you almost certainly don't own yet. <a href="https://www.benzinga.com/money/masterworks">See which asset class has outpaced the S&amp;P 500 (1995-2024) – and with near-zero correlation.</a></li>
</ul>

Apollo Chief Economist: Markets Are Caught Between Inflation And Slowdown Fears

In a recent shift of investment strategy,&nbsp;David Tepper&#8216;s hedge fund,&nbsp;Appaloosa LP, has made significant alterations to its portfolio. 
What Happened: The firm&#8217;s latest 13F filing reveals a reduction in semiconductor holdings, while stakes in other tech stocks, including&nbsp;Oracle Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NYSE">ORCL</a>) and the&nbsp;ARK Innovation ETF (ARKK), have been increased.
Appaloosa LP, during&nbsp;the fourth quarter of 2023,&nbsp;purchased&nbsp;1.3 million shares in Oracle&nbsp;Corp worth approximately&nbsp;$140 million and a call&nbsp;option for nearly&nbsp;2.6 million shares of the&nbsp;ARK Innovation ETF valued at over $133 million. The hedge fund also established&nbsp;new positions in FMC Corp.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FMC#NYSE">FMC</a>) and General Motors Co.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>).
Investments were also made&nbsp;in the home improvement, construction,&nbsp;and building materials sectors, with the acquisition of shares in firms such as Masco Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MAS#NYSE">MAS</a>), Mohawk Industries Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MHK#NYSE">MHK</a>), and Owens Corning (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OC#NYSE">OC</a>).
According to a report <a href="https://www.investopedia.com/tepper-appaloosa-13f-q4-2023-8580346">by </a>Investopedia, Appaloosa reduced its positions in&nbsp;several tech firms, including Advanced Micro Devices (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>),&nbsp;Alphabet Class C stock (GOOG),&nbsp;Qualcomm Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCOM#NASDAQ">QCOM</a>), Uber Technologies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>), and&nbsp;Taiwan Semiconductor Manufacturing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>).&nbsp;The largest sell-off involved&nbsp;nearly 1.7 million shares of&nbsp;Intel Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>).
Also Read: <a href="https://www.benzinga.com/markets/equities/25/02/43746268/david-tepper-rausing-family-boost-nvidia-holdings-ahead-of-stock-volatility">David Tepper, Rausing Family Boost Nvidia Holdings Ahead Of Stock Volatility</a>
Outside of tech, the fund sold off shares in KE Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BEKE#NYSE">BEKE</a>), Macy&#8217;s Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/M#NYSE">M</a>), and PDD Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PDD#NASDAQ">PDD</a>). On the flip side, Appaloosa added to its existing positions in Caesars Entertainment Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CZR#NASDAQ">CZR</a>), MPLX LP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MPLX#NYSE">MPLX</a>), Alibaba Group Holding (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>), Amazon (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), and Microsoft (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>).
The hedge fund also&nbsp;exited two positions entirely in&nbsp;the fourth quarter, selling off&nbsp;shares of Arista Networks (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ANET#NYSE">ANET</a>)&nbsp;and Enterprise Products Partners (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EPD#NYSE">EPD</a>).
Why It Matters: Appaloosa&#8217;s portfolio reshuffle indicates a strategic shift towards diversification. The reduction in semiconductor holdings comes amidst a global chip shortage, potentially signaling a cautious approach. 
The increased stakes in other tech stocks and the home improvement sector suggest a focus on industries that have shown resilience during the pandemic. The fund&#8217;s&nbsp;new positions in FMC Corp.&nbsp;and General Motors Co. indicate a bet on the agrochemical and automotive industries, respectively. 
The sell-offs, on the other hand, might reflect an attempt to mitigate risks associated with specific stocks or sectors.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/earnings/earnings-beats/25/02/43740996/palo-alto-analysts-optimistic-on-revenue-growth-expanding-market-share" target="_blank" rel="noreferrer noopener">Palo Alto Analysts Optimistic On Revenue Growth, Expanding Market Share</a></li>
</ul>
Image: Shutterstock

AMZN

ANET

ARKK

BABA

BEKE

INTC

MPLX

MSFT

ORCL

Citigourp Global Markets 2% Protected Notes Linked To The Djia

QCOM

UBER

David Tepper's Appaloosa Revamps Portfolio, Cuts Down On Semiconductor Stocks

Warren Buffett&#8216;s Berkshire Hathaway Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) made significant adjustments to its portfolio in Q4 2024, reducing its investment in a number of stocks. However, its stake in Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) remains unchanged, as revealed in the recent 13F filings.
What Happened:&nbsp;Berkshire Hathaway has continued to offload its shares in&nbsp;Bank of America Corp.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>), one of its largest holdings. The company also downsized its stake in&nbsp;Citigroup Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/C#NYSE">C</a>) and sold a portion of its investment in&nbsp;Capital One Financial Corp.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COF#NYSE">COF</a>).
In addition, Berkshire Hathaway announced a new $1.2 billion position in&nbsp;Constellation Brands, Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STZ#NYSE">STZ</a>), a U.S. seller of Modelo and Corona beer, and divested&nbsp;its shares of Ulta Beauty.
According to the report <a href="https://www.wsj.com/finance/stocks/buffetts-berkshire-holds-on-to-apple-shares-but-trims-stakes-in-bofa-citi-and-capital-one-b9efdb12">by </a>Wall Street Journal, despite ongoing speculation, Berkshire Hathaway did not sell any of its 300 million Apple shares, which were valued at $75.1 billion as of December 31, 2024.
The regulatory filing also indicated that Berkshire increased its investments in Domino&#8217;s Pizza and Pool Corp., which it had previously disclosed three months ago.
Also Read:&nbsp;<a href="https://www.benzinga.com/markets/25/01/42803589/warren-buffetts-advice-for-overpriced-stocks-zip-up-your-wallet-take-a-vacation-and-come-back-in-a-few-years-to-buy-stocks-at-cheap-prices" target="_blank" rel="noreferrer noopener">Warren Buffett&#8217;s Advice for Overpriced Stocks: ‘Zip up Your Wallet, Take a Vacation, and Come Back in a Few Years To Buy Stocks at Cheap Prices&#8217;</a>
Investors are eagerly awaiting Buffett&#8217;s annual letter, set to be released on February 22, for insights into these recent trading decisions.
Why It Matters: The recent changes in Berkshire Hathaway&#8217;s portfolio reflect the company&#8217;s strategic investment decisions. The continued investment in Apple, despite the sale of other tech stocks, suggests confidence in the tech giant&#8217;s performance. 
The reduction in financial stocks could indicate a shift in Berkshire&#8217;s investment strategy, possibly due to changing market conditions or a reassessment of the financial sector&#8217;s future prospects. The new stake in Constellation Brands and increased positions in Domino&#8217;s Pizza and Pool Corp. highlight Berkshire&#8217;s interest in diversifying its portfolio. 
The upcoming annual letter from Buffett will likely provide further clarity on these decisions.
Read Next
<a href="https://www.benzinga.com/news/25/02/43423897/buffett-advises-against-using-credit-cards-as-a-source-of-funds-paying-it-off-is-gonna-be-way-better-than-any-investment-idea">Buffett Advises Against Using Credit Cards as a Source of Funds: &#8216;Paying It off Is Gonna Be Way Better Than Any Investment Idea&#8217;</a>
Image: Shutterstock

AAPL

Berkshire Hathaway Adjusts Portfolio, Keeps Apple Stake Unchanged, Offloads Stakes in BofA

Benzinga examined the prospects for <a href="http://www.benzinga.com/trading-ideas">many investors&#8217; favorite stocks</a> over the last week — here&#8217;s a look at some of our top stories.
The S&amp;P 500 rose about 1.5% this week, while the Dow gained 0.6% and the Nasdaq climbed 2.6%. Inflation remains a concern, but Wall Street stayed resilient as optimism grew around Ukraine peace talks and President Donald Trump's tariff proposal, which appeared less severe than initially expected. 
January's Consumer Price Index rose 3% year-over-year, exceeding forecasts, with energy and food prices—particularly eggs—driving the increase, while core inflation also came<a href="https://www.benzinga.com/economics/macro-economic-events/25/02/43692996/inflation-fears-mount-as-producer-prices-soar-to-35-put-fed-interest-rate-cut-on-ice"> in hotter than anticipated. </a>
Fed Chair Jerome Powell signaled no urgency to cut interest rates, prompting investors to push back expectations for the first rate cut to December, with some economists even suggesting a <a href="https://www.benzinga.com/news/global/25/02/43748007/inflation-spikes-in-january-wall-street-rallies-on-ukraine-peace-talks-delayed-tariffs-this-week-in-the-markets">hike could be on the table.</a>
Benzinga provides daily reports on the stocks most popular with investors. Here are a few of this past week&#8217;s most bullish and bearish posts that are worth another look.
<h3 class="wp-block-heading">The Bulls</h3>
&#8220;<a href="https://www.benzinga.com/government/regulations/25/02/43592144/us-steel-aluminum-stocks-rally-as-trump-revives-25-tariff-plan">US Steel, Aluminum Stocks Rally As Trump Revives 25% Tariff Plan</a>,&#8221; by&nbsp;<a href="https://www.benzinga.com/author/piero-cingari">Piero Cingari</a>, reports that steel and aluminum stocks surged after Trump announced plans to reintroduce 25% tariffs on imported metals. Shares of Alcoa Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AA#NYSE">AA</a>), Century Aluminum Co. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CENX#NASDAQ">CENX</a>), Cleveland-Cliffs Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLF#NYSE">CLF</a>), and United States Steel Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/X#NYSE">X</a>) jumped.
&#8220;<a href="https://www.benzinga.com/25/02/43700767/netflix-stock-attractive-at-all-time-highs-for-analyst-virtuous-circle-of-strong-subscriber-growth-more-revenue-and-growing-profit">Netflix Stock Attractive At All-Time Highs For Analyst: &#8216;Virtuous Circle Of Strong Subscriber Growth, More Revenue, And Growing Profit&#8217;</a>,&#8221; by&nbsp;<a href="https://www.benzinga.com/author/chris-katje">Chris Katje</a>, highlights a JPMorgan analyst reiterating an Overweight rating on Netflix Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) with a $1,150 price target, citing strong subscriber growth, higher engagement, and price hikes expected to boost 2025 revenue by $2 billion in the U.S. and $370 million in the UK.
&#8220;<a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43648469/hold-dogecoin-until-march-24-says-top-crypto-trader-expecting-nice-pumps-but-look-out-for-these-sell-signals">Hold Dogecoin Until March 24, Says Top Crypto Trader Expecting &#8216;Nice Pumps:&#8217; But Look Out For These &#8216;Sell&#8217; Signals</a>,&#8221; by&nbsp;<a href="https://www.benzinga.com/author/aniket-verma">Aniket Verma</a>, reports on a crypto trader forecasting a Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) rally around March 24, citing Fibonacci time zones. Another analyst highlights increased whale activity and daily active addresses as indicators of potential bullish momentum.
For additional bullish calls of the past week, check out the following:
<a href="https://www.benzinga.com/25/02/43676849/dutch-bros-stock-rallies-after-blockbuster-q4-results-details">Dutch Bros Stock Rallies After Blockbuster Q4 Results: Details</a>
<a href="https://www.benzinga.com/news/earnings/25/02/43676556/applovin-stock-soars-on-q4-earnings-revenue-beat-eps-beat-strong-guidance-and-more">Applovin Stock Soars On Q4 Earnings: Revenue Beat, EPS Beat, Strong Guidance And More</a>
<a href="https://www.benzinga.com/analyst-ratings/price-target/25/02/43678005/super-micro-rides-ai-server-boom-analysts-see-big-2026-growth-despite-near-term-challenges">Super Micro Rides AI Server Boom, Analysts See Big 2026 Growth Despite Near-Term Challenges</a>
The Bears
&#8220;<a href="https://www.benzinga.com/news/global/25/02/43600852/china-sets-sights-on-us-tech-companies-as-trade-tensions-rise">China Sets Sights On Apple, Nvidia And Other US Tech Companies As Trade Tensions Rise</a>,&#8221; by&nbsp;<a href="https://www.benzinga.com/author/adam-eckert">Adam Eckert</a>, reports that China is compiling a list of U.S. tech firms to target with potential antitrust probes, aiming to gain leverage in trade negotiations. Companies like Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), and Broadcom Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>) could face scrutiny, escalating tensions between Beijing and Washington.
&#8220;<a href="https://www.benzinga.com/25/02/43660030/trump-tariff-threats-put-pressure-on-taiwan-semiconductor-could-push-advanced-packaging-capacity-to-us">Taiwan Semiconductor Under Pressure From Trump Tariff Threats, Could Push Advanced Packaging Capacity to US</a>,&#8221; by&nbsp;<a href="https://www.benzinga.com/author/anusuya-lahiri-0">Anusuya Lahiri</a>, reports Taiwan Semiconductor Manufacturing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) facing uncertainty as Trump considers semiconductor tariffs and potentially scrapping CHIPS Act subsidies, prompting Taiwan's deputy economy minister to visit Washington amid growing trade tensions.
&#8220;<a href="https://www.benzinga.com/25/02/43651110/starbucks-faces-legal-action-over-alleged-discriminatory-hiring-practices">Racism Has No Place in Missouri&#8217;: State Attorney General Sues Starbucks Over Hiring Policies</a>,&#8221; by&nbsp;<a href="https://www.benzinga.com/author/shivani-kumaresan">Shivani Kumaresan</a>, reports on Missouri Attorney General Andrew Bailey suing Starbucks Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NASDAQ">SBUX</a>), alleging that its diversity, equity, and inclusion (DEI) initiatives violate federal and state anti-discrimination laws by tying executive compensation to racial and gender quotas.
For more bearish takes, be sure to see these posts:
<a href="https://www.benzinga.com/etfs/broad-u-s-equity-etfs/25/02/43667841/inflation-runs-hot-in-january-houston-we-have-a-problem-experts-warn">Inflation Runs Hot In January: &#8216;Houston, We Have A Problem,&#8217; Experts Warn</a>
<a href="https://www.benzinga.com/trading-ideas/movers/25/02/43729865/serve-robotics-tumbles-after-nvidia-exit-shakes-investor-confidence">Serve Robotics Tumbles After Nvidia Exit Shakes Investor Confidence</a>
<a href="https://www.benzinga.com/tech/25/02/43585701/tesla-ceo-elon-musk-vp-of-finance-address-allegations-of-tax-fraud-losses-were-high-for-many-years-so-carry-forward">Tesla CEO Elon Musk, VP Of Finance Address Allegations Of Tax Fraud: &#8216;Losses Were High For Many Years, So Carry Forward&#8217;</a>
Keep up with all the latest breaking news and trading ideas by following<a href="https://twitter.com/Benzinga"> Benzinga</a><a href="http://twitter.com/Benzinga"> on Twitter</a>.
Image created using artificial intelligence via Midjourney.

Long Ideas

Short Ideas

Trading Ideas

$DOGE

AVGO

CENX

NFLX

NVDA

SBUX

Benzinga Bulls and Bears: Apple, Nvidia, Netflix and Trader Predicts Dogecoin Surge by March 24

<a href="https://www.benzinga.com/startups/24/11/42042350/billionaires-like-gates-bezos-and-altman-are-backing-nuclear-energy-heres-why-theyre-all-in-and-if-you-should-be-too">Jeff Bezos</a>&#8216; Amazon (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) has landed its first <a href="https://www.telegraph.co.uk/business/2025/02/09/bezos-wins-first-military-satellite-contract-concern-musk/">military contract </a>in the UK, taking a step into defense communications.&nbsp;
Project Kuiper, Amazon's satellite venture, secured a $830,000 consultancy deal with the UK&nbsp; Defense Ministry to explore advanced space-based communication systems, <a href="https://www.telegraph.co.uk/business/2025/02/09/bezos-wins-first-military-satellite-contract-concern-musk/">The Telegraph reported</a>. The findings were later presented to UK Space Command.
Project Kuiper is Amazon's answer to Elon Musk's Starlink. Starlink already has nearly 7,000 satellites in orbit, providing internet to millions. Amazon, on the other hand, plans to start launching its network of more than <a href="https://www.aboutamazon.com/what-we-do/devices-services/project-kuiper">3,000 low Earth orbit satellites</a> this year, with services rolling out shortly after.
Don't Miss:
<ul>
<li>Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing —<a href="https://www.benzinga.com/money/boxabl"> you can become an investor for $0.80 per share today.</a></li>
<li>‘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></li>
</ul>
The deal with the MoD focuses on "translator" satellites—technology that could allow different military, government, and private satellite systems to communicate with each other. Right now, most satellites are limited to their own networks.&nbsp;
The U.S. <a href="https://www.darpa.mil/research/programs/space-based-adaptive-communications-node">Defense Advanced Research Projects Agency</a> is working on similar tech to improve coordination between allied nations.&nbsp;
Amazon has been making moves to get closer to UK defense officials. Executives from Project Kuiper and Bezos' rocket company, Blue Origin, met with Air Marshal Paul Godfrey, the former head of UK Space Command, last year, The Telegraph reported.&nbsp;&nbsp;
The company has also been pursuing <a href="https://www.ssc.spaceforce.mil/Portals/3/Documents/PRESS%20RELEASES/U.S.%20Space%20Force%E2%80%99s%20Space%20Systems%20Command%20Awards%20Three%20Contracts%20for%20National%20Security%20Space%20Launch%20Phase%203%20Lane%201.pdf?ver=WT3dldJzYn51seLAiTO3kg%3D%3D">defense contracts in the U.S.</a> as part of a broader push into military communications.
Trending: 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>?
Amazon is already a<a href="https://www.contractsfinder.service.gov.uk/notice/48741bae-f983-483f-b55c-7cbc1a928b97?origin=SearchResults&amp;p=1"> major IT supplier for the UK government</a>, with its Amazon Web Services&nbsp; division winning multi-billion-pound contracts for cloud computing and data storage. Now, it's expanding into satellite broadband.&nbsp;
Following <a href="https://www.ofcom.org.uk/spectrum/space-and-satellites/statement-amazon-kuiper-services-europe-sarl-application-for-a-non-geostationary-earth-station-network-licence">regulatory approval from Ofcom</a>, Amazon is cleared to offer satellite internet services in the UK. Starlink currently has about 87,000 customers in Britain, with many in rural areas where traditional broadband isn't reliable.
Governments are looking for <a href="https://africa.businessinsider.com/news/europe-is-taking-on-elon-musk-with-its-own-starlink-rival/qx3wb46">alternatives to Starlink</a> to avoid relying too heavily on a single provider. The European Union has backed Iris2, a satellite project meant to give the bloc its own secure space-based communication network.&nbsp;
The UK government, meanwhile, holds a stake in <a href="https://www.gov.uk/government/news/uk-government-secures-satellite-network-oneweb?">Eutelsat OneWeb</a>, but Starlink technology has still been used in trials to improve rural broadband access.
See Also: The average American couple has saved this much money for retirement —<a href="http://www.benzinga.com/money/smartasset"> How do you compare</a>?
Beyond the UK, Amazon is in talks with other governments about Kuiper's potential. <a href="https://www.ft.com/content/cbbcf94b-d326-4edd-b926-8a91d5297df8">Taiwanese officials</a> have explored the system as a possible alternative due to concerns over Musk's business links in China.
In Canada, Ontario's government has considered <a href="https://www.ft.com/content/0f8ea270-1807-407c-bc04-6bb9fe6e5478">canceling a Starlink contract</a> amid trade disputes with the U.S.
The UK is also pushing forward with its own military satellite plans. The <a href="https://www.gov.uk/guidance/skynet-6#:~:text=The%20SKYNET%206%20Programme%20delivers,carbon%20emissions%20target%20by%202050">$6.2 billion Skynet 6 program</a>, aimed at upgrading Britain's defense communications, has Airbus and Lockheed Martin (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>) as the final bidders.&nbsp;
Additionally, the <a href="https://www.gov.uk/government/news/uk-cutting-edge-space-defence-backed-by-14-billion">UK government is weighing a $1.7 billion</a> investment in an intelligence-gathering satellite network.
Read Next:
<ul>
<li>Deloitte's fastest-growing software company partners with Amazon, Walmart &amp; Target – <a href="https://www.benzinga.com/money/mode-mobile-2">Many are rushing to grab 4,000 of its pre-IPO shares for just $0.26/share!</a></li>
<li><a href="https://www.benzinga.com/money/arrived-centennial">Jeff Bezos-Backed Arrived Homes Hits A Big Sale On Charlotte Property – Investors Earning A 34.7% Return</a></li>
</ul>

'Rattling The Door' – How Jeff Bezos' Amazon Is Courting UK Defence Officials To Secure Its Spot In The Satellite Wars

President Donald Trump has directed the Treasury Department to halt new penny production, rekindling the <a href="https://www.benzinga.com/news/25/01/43152917/elon-musk-led-doge-targets-us-penny-over-179m-annual-production-cost">debate over America&#8217;s costliest small change</a>.
Each penny cost $0.037 to produce in 2024, up from $0.021 in 2021, <a href="https://www.wsj.com/personal-finance/trump-penny-us-mint-explained-36db52f6?mod=hp_lista_pos3">according to The Wall Street Journal on Monday</a>. The U.S. Mint lost $85.3 million last year producing nearly 3.2 billion pennies, mostly made of zinc and copper.
The move <a href="https://www.benzinga.com/25/02/43585332/trump-orders-scott-bessent-to-rip-the-waste-out-ends-penny-production-after-elon-musks-doge-report">could save substantial government funds</a>. The U.S. Mint has estimated that suspending penny production would save approximately $250 million over 10 years, the Government Accountability Office said in a 2019 report.
Don't Miss:
<ul>
<li>It&#8217;s no wonder Jeff Bezos holds over $250 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></li>
<li>Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing —<a href="https://www.benzinga.com/money/boxabl"> you can become an investor for $0.80 per share today.</a></li>
</ul>
Public opinion appears mixed. A National Association of Convenience Stores survey found 36% initially supported eliminating pennies, rising to 50% after learning about production costs, The Journal said.&nbsp;&nbsp;
Americans discard up to $68 million in coins annually, The <a href="https://www.wsj.com/finance/americans-throwing-away-coins-28ca794c">Journal reported last year.</a>.
However, small business owners worry about potential impacts. Joshua Dairen, an Alabama coffee shop owner, told The Journal fears penny elimination could push more customers toward credit cards, increasing processing fees that cut into profits. Currently, about 30% of his customers use cash.
&#8220;If everybody&#8217;s using cards, that cost gets passed on to customers,&#8221; Dairen said.
Trending: Deloitte's fastest-growing software company partners with Amazon, Walmart &amp; Target – <a href="https://www.benzinga.com/money/mode-mobile-2">Many are rushing to grab 4,000 of its pre-IPO shares for just $0.26/share!</a>
Price rounding also concerns some merchants. Sergio Briones, a Texas convenience store owner with 70% cash transactions, worries about effects on low-income customers. &#8220;Our profit margins are already razor-thin,&#8221; he told The Journal, noting that rounding a $0.96 item to a dollar could hurt his shoppers.
Canada&#8217;s 2012 penny elimination offers a potential model. The government stopped producing pennies when costs reached $0.016 cents each, implementing a system where cash transactions round to the nearest nickel.&nbsp;
Following similar moves in Australia and New Zealand&#8217;s in the 1990s, Canada reported no significant inflation impact.
See Also: 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>?
While Congress authorizes coin production, economist Robert Whaples of Wake Forest University suggests Trump may have authority to pause minting, The Journal reported. &#8220;Trump&#8217;s move doesn&#8217;t claim to permanently eliminate the penny, which would clearly be Congress&#8217;s decision. Rather, it halts minting new pennies, and the decision about how many pennies to produce each year seems to be within the executive branch&#8217;s power," he said.
One potential drawback; increased nickel usage. The $0.05 coin cost nearly $0.14 cents to produce last year, potentially creating new cost inefficiencies.
Read Next:
<ul>
<li>BlackRock is calling 2025 the year of alternative assets. <a href="https://www.benzinga.com/money/masterworks">One firm from NYC has quietly built a group of 60,000+ investors who have all joined in on an alt asset class previously exclusive to billionaires like Bezos and Gates.</a></li>
<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>
</ul>

Trump's Plan To Ditch Pennies — Pros & Cons For Businesses and Customers

Website listings and data company <a href="https://www.benzinga.com/real-estate/24/12/42462666/plan-and-budget-for-the-mid-6-range-what-homebuyers-can-expect-in-2025-according-to-realtor-com">Realtor.com</a> is the latest high-profile Californian-based company to relocate to Texas. In moving from Santa Clara to <a href="https://www.benzinga.com/25/02/43620349/tesla-still-on-track-to-launch-autonomous-ride-hailing-in-austin-by-june-says-elon-musk">Austin</a>, alarm bells sounded in Silicon Valley as it lost another high-profile tech business to the Lone Star state.
&#8220;With the move, the company has made Austin its top hiring location and has committed to the long-term growth of its team and office footprint in Texas,&#8221; Realtor.com <a href="https://cw-gbl-gws-prod.azureedge.net/-/media/cw/marketbeat-pdfs/2024/q4/us-reports/office/austin_americas_marketbeat_office_q42024.pdf?rev=f81f4e5596c0434ea30b73c9c4a80aa6">announced</a> on Feb. 6, adding that the area&#8217;s affordable cost of living, &#8220;aspirational lifestyle,&#8221; and &#8220;expansive tech and academic communities&#8221; make it an ideal home base.
Realtor.com is a unit of News Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NWS#NASDAQ">NWS</a>, NWSA)).
Don't Miss:
<ul>
<li>Many don&#8217;t know there are tax benefits when buying a unit as an investment —<a href="https://www.benzinga.com/money/casa-shares-y2"> Here&#8217;s how to invest in real estate by mirroring BlackRock's big move</a></li>
<li>Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing —<a href="https://www.benzinga.com/money/boxabl-y2"> you can become an investor for $0.80 per share today.</a></li>
</ul>
<h2 class="wp-block-heading">Affordability And Lifestyle</h2>
In conjunction with the move, and in a blow to Californian prestige, Realtor.com said: &#8220;Austin and Texas offer a strong and growing talent pool, a powerhouse economy with unparalleled housing growth, affordability of living only matched by its aspirational lifestyle, expansive tech, and academic communities, and a dynamic and vibrant city at the heart of the thriving state of Texas. There is no better place for us to call home.&#8221;
It continued: &#8220;Over the coming years, we are committed to growing our presence by hiring great local talent and by bringing new recruits to Texas. Basing Realtor.com in Texas puts our company at the heart of innovation and inspiration at a moment of national economic renaissance for America. We are proud to be housed in a state which understands the crucial role played by business in providing opportunities for personal growth, professional success and community achievement. Our investment in Austin is a downpayment on The American Dream.&#8221;
Trending: Deloitte's fastest-growing software company partners with Amazon, Walmart &amp; Target – <a href="https://www.benzinga.com/money/mode-mobile-y2">Last Chance to get 4,000 of its pre-IPO shares for just $0.26/share!</a>
Realtor.com's announcement<a href="https://www.wsj.com/business/energy-oil/chevron-to-leave-california-for-texas-as-regulations-mount-in-golden-state-d58e170c"> </a>echoed oil major Chevron's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>) last year that it would move to Texas from California. The company is now based in Dallas.
&#8220;We believe California has a number of policies that raise costs, that hurt consumers, that discourage investment, and ultimately, we think that&#8217;s not good for the economy in California and for consumers,&#8221; Chevron CEO Mike Wirth <a href="https://www.wsj.com/business/energy-oil/chevron-to-leave-california-for-texas-as-regulations-mount-in-golden-state-d58e170c">told The Wall Street Journal</a> in August.
<h2 class="wp-block-heading">A Deluge Of Companies Leaving California For Texas</h2>
<a href="http://realtor.com/">Realtor.com</a> joins a deluge of companies that have traded the Golden State for the Lone Star State. These include Chevron, SpaceX, X, Tesla (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) , and <a href="https://www.benzinga.com/insights/options/25/02/43597329/unpacking-the-latest-options-trading-trends-in-charles-schwab">Charles Schwab</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SCHW#NASDAQ">SCHW</a>).&nbsp;
Recently, Meta Platforms (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) CEO Mark Zuckerberg moved trust and safety workers to Texas and is reportedly exploring <a href="https://www.wsj.com/tech/meta-incorporation-texas-delware-f06e8bab">moving the social-media giant&#8217;s legal residence</a> to the state. Smaller but high-profile companies, such as TV chef<a href="https://www.businessinsider.com/gordon-ramsay-moves-restaurant-hq-california-texas-2021-12"> Gordon Ramsay&#8217;s restaurant business</a> also made headlines by moving to Texas from California.
See Also: Wondering if your investments can get you to a $5,000,000 nest egg? Speak to a financial advisor today.<a href="https://smartasset.com/retirement/find-a-financial-planner?utm_source=benzinga&amp;utm_campaign=ben&amp;utm_content=y2_5MilNestEgg"> SmartAsset&#8217;s free tool matches you up with up to three vetted financial advisors who serve your area, and you can interview your advisor matches at no cost</a> to decide which one is right for you.
<a href="https://www.concordia.edu/blog/19-corporations-and-businesses-fleeing-california-for-texas.html">Other large companies</a>, including CBRE Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CBRE#NYSE">CBRE</a>), Green Dot (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDOT#NYSE">GDOT</a>), Hewlett Packard Enterprise (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HPE#NYSE">HPE</a>), Oracle (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NYSE">ORCL</a>), and Pabst Brewing Company, have moved to Texas in recent years, according to Concordia University.
<h2 class="wp-block-heading">Population Surge</h2>
Aside from differing politics, many companies cite the cost of living, affordable land, and lack of state income taxes as drivers for the move. Texas&#8217;s population increased by 1.6% in the year to July 2022, <a href="https://www.newsweek.com/why-americans-are-fleeing-democratic-states-1795292">Newsweek reported</a>, citing Census Bureau data. Over the same period, California decreased by 0.3% and New York by 0.9%.&nbsp;
<a href="https://www.bloomberg.com/news/articles/2025-02-06/realtor-com-leaves-california-to-set-up-headquarters-in-texas">Bloomberg reported</a> that Realtor.com has around 60,000 square feet in its Austin headquarters, and some workers who used to be based out of Santa Clara have been instructed to work remotely. However, according to commercial real estate brokerage <a href="https://cw-gbl-gws-prod.azureedge.net/-/media/cw/marketbeat-pdfs/2024/q4/us-reports/office/austin_americas_marketbeat_office_q42024.pdf?rev=f81f4e5596c0434ea30b73c9c4a80aa6">Cushman &amp;&nbsp; Wakefield</a>, Austin&#8217;s construction boom has resulted in office vacancies of nearly 30%.
Read Next:
<ul>
<li>‘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-y2">You can invest today for just $0.26/share with a $1000 minimum.</a></li>
<li>If there was a new fund backed by Jeff Bezos offering a <a href="https://www.benzinga.com/go/arrived-private-credit-yf">7-9% target yield with monthly dividends would you invest in it</a>?</li>
</ul>

Real Estate

CBRE

GDOT

SCHW

TSLA

Realtor.com Leaves California To Set Up Base In Texas —  It's Just One Of Many Companies Leaving The West Coast

On Friday,&nbsp;Cathie Wood-led&nbsp;Ark Invest&nbsp;made significant trades involving stocks such as&nbsp;Iridium Communications Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IRDM#NASDAQ">IRDM</a>),&nbsp;Twist Bioscience Corp&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TWST#NASDAQ">TWST</a>),&nbsp;PagerDuty Inc&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PD#NYSE">PD</a>),&nbsp;Beam Therapeutics Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BEAM#NASDAQ">BEAM</a>),&nbsp;Roku Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROKU#NASDAQ">ROKU</a>), and&nbsp;Ibotta Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBTA#NASDAQ">IBTA</a>).
The IRDM Trade
Ark Invest, through its ARK Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKK#NYSE">ARKK</a>), bought 86,666 shares of Iridium Communications.
The closing price of IRDM on Friday was $31.63, making the total value of this trade approximately $2.74 million. This move comes amidst a slight decline in IRDM&#8217;s stock price, with a 1.13% change on Friday.
The TWST Trade
Ark Invest also purchased 36,806 shares of Twist Bioscience Corp through ARKK.
With a closing price of $47.59, the total value of this trade amounts to approximately $1.75 million. TWST's stock price surged by more than 1.5% on Friday.
The PD Trade
Ark Invest bought 35,546 shares of PagerDuty Inc through ARKK and an additional 10,215 shares through its ARK Next Generation Internet ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKW#NYSE">ARKW</a>).
With PD&#8217;s closing price on Friday at $19.3, the total value of this trade is approximately $882,000.
Other Key Trades:
<ul>
<li>Ark Invest bought 24,250 shares of Ibotta Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBTA#NASDAQ">IBTA</a>) through its ARK Fintech Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKF#NYSE">ARKF</a>).</li>
<li>Ark Invest bought 1,916 shares of Beam Therapeutics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BEAM#NASDAQ">BEAM</a>) through its ARK Genomic Revolution ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKG#NYSE">ARKG</a>) and ARK Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKK#NYSE">ARKK</a>).</li>
<li>Ark Invest sold 46,810 shares of Roku Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROKU#NASDAQ">ROKU</a>) through its ARKK and ARK Next Generation Internet ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKW#NYSE">ARKW</a>).</li>
</ul>
These trades reflect Ark Invest&#8217;s strategic decisions in the face of the dynamic tech sector&#8217;s performance.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/25/02/43755136/bill-gates-wanted-a-friend-to-take-charge-of-microsoft-due-to-regret-over-leaving-harvard-but-heres-why-he-panick">Bill Gates Wanted A Friend To &#8216;Take Charge&#8217; Of Microsoft Due To Regret Over Leaving Harvard, But Here&#8217;s Why He Panicked And Dropped Out</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image via Ark Invest

Tech

ETFs

ARKF

ARKG

ARKW

BEAM

IBTA

IRDM

ROKU

TWST

Cathie Wood's Ark Invest Loads Up On Iridium, Twist Bioscience, Offloads Roku: Here Are Key Ark Trades This Friday

A&nbsp;rare business card signed by late Apple Inc. co-founder&nbsp;Steve Jobs&nbsp;is drawing significant attention at an ongoing auction.
What Happened: This unique piece of memorabilia, dating back to 1983, features Jobs&#8217;s signature alongside the iconic Apple rainbow logo.
The auction house RR Auction has authenticated the card, despite some minor imperfections.
Known for his selective nature regarding signing memorabilia, Jobs&#8217;s autographed items are highly coveted among collectors. Out of 15&nbsp;Jobs business cards auctioned so far by the firm, only four are from this era, with just one bearing his signature.
The <a href="https://www.rrauction.com/auctions/lot-detail/349802907124030-steve-jobs-signed-apple-business-card-c-1983-psa-gem-mt-10/">auction</a>, which is set to conclude on Feb. 20, has already seen bids for the card soar to $75,000, with the next bid anticipated at $82,500.
In addition to the Jobs card, RR Auction is also offering&nbsp;a replica SpaceX helmet signed&nbsp;by&nbsp;Elon Musk, currently bid at $2,338. Both items are generating considerable interest from collectors and enthusiasts.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Why It Matters: The auction of this rare Jobs-signed business card underscores the <a href="https://www.benzinga.com/news/24/10/41196932/legendary-apple-co-founder-steve-jobs-once-said-being-the-richest-man-in-the-cemetery-doesnt-matter">enduring legacy</a> of the late Apple co-founder.
Jobs&#8217;s influence on technology and culture remains significant, even over a decade after his passing.
Jobs&#8217;s meticulous nature and quest for perfection were evident in both his professional and personal life.
His <a href="https://www.benzinga.com/news/25/02/43713534/steve-jobs-feared-his-porsche-911-would-display-his-wealth-and-cost-him-a-20-million-deal-so-he-scrambled-to-hide-it-from-ross-perot">love for the Porsche 911</a>, for instance, was legendary, as he would swap his car every six months to avoid having a license plate.
This attention to detail extended to his business endeavors, such as when he scrambled to hide his wealth from potential investor&nbsp;<a href="https://www.benzinga.com/news/25/02/43713534/steve-jobs-feared-his-porsche-911-would-display-his-wealth-and-cost-him-a-20-million-deal-so-he-scrambled-to-hide-it-from-ross-perot">Ross Perot</a>&nbsp;during a crucial meeting for his company NeXT.
Furthermore, Jobs&#8217;s approach to building successful teams <a href="https://www.benzinga.com/news/24/07/39833269/apple-co-founder-steve-jobs-drew-inspiration-from-beatles-on-building-great-teams-they-were-four-ver">was inspired</a> by the dynamics of The Beatles, emphasizing how synergy among talented individuals can lead to groundbreaking results. This philosophy was central to his leadership style and contributed to the innovative culture at Apple.
Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/25/02/43755136/bill-gates-wanted-a-friend-to-take-charge-of-microsoft-due-to-regret-over-leaving-harvard-but-heres-why-he-panick">Bill Gates Wanted A Friend To &#8216;Take Charge&#8217; Of Microsoft Due To Regret Over Leaving Harvard, But Here&#8217;s Why He Panicked And Dropped Out</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Steve Jobs-Signed Rare Apple Business Card Goes Up For Auction, Bids Touch $75,000

Cryptocurrency analyst&nbsp;Michaël van de Poppe&nbsp;has shared insights on potential trajectories&nbsp;for Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and altcoins&nbsp;in the coming months.
What Happened: Van de Poppe suggests two scenarios: one where Bitcoin peaks in late 2025 and altcoins surge in early 2026, following the typical four-year cycle influenced by Bitcoin halving events.
The second scenario, according to Van de Poppe, involves even larger rallies for cryptocurrencies, driven by rising equity prices and policies from&nbsp;President Donald Trump.
"The S&amp;P is going to copy-paste the last four years of the dotcom bubble with four years of 20% returns or more which is a very rare case and which is basically designing the entire bubble that was happening in the dotcom bubble and might be the case again with AI and blockchain," he explained.
He predicts that the S&amp;P index could mimic the dotcom bubble&#8217;s returns, potentially leading Bitcoin to reach $1 million and altcoins to experience extreme valuations.
"If the S&amp;P is going to do that, Bitcoin is going to be the beta play on top of that where Trump is going to fuel that entire run where Bitcoin goes to a $1 million and altcoins can go completely wild with irrational valuations."
Van de Poppe warns of a significant market correction following these events, suggesting a shift in macroeconomic conditions.
He emphasizes that this cycle might have started late for altcoins, marking&nbsp;the longest bear market in&nbsp;their history.
Why It Matters: On Friday, Bitcoin, Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>), XRP ((CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>), and Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) posted gains, indicating strong market activity.
A&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43746357/bitcoin-ethereum-xrp-dogecoin-rally-trader-predicts-weekend-pullback-before-push-to-103000">recent report</a>&nbsp;highlighted predictions of a weekend pullback before a potential push to $103,000 for Bitcoin.
Additionally, there is growing speculation around the approval of a Dogecoin ETF in 2025. Betting markets, as per&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43742669/a-dogecoin-etf-approval-in-2025-is-becoming-increasingly-likely-polymarket-traders-speculate">Polymarket data</a>, show a 74% chance of approval by the end of 2025, reflecting increased optimism since President Trump&#8217;s inauguration.
Moreover,&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43723429/arthur-hayes-says-trump-coin-will-lead-bitcoin-if-market-sentiment-turns-favorable-calls-memecoin-purest-and-most-honest-popularity-metric">Arthur Hayes</a>, co-founder of BitMEX, has suggested that a positive shift in market sentiment could propel the Trump coin ahead of Bitcoin.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/tech/25/02/43578110/while-elon-musk-has-been-at-the-center-of-trumps-presidency-in-the-first-three-weeks-data-shows-his-rivals-jeff-bezos-mark-zuckerberg-and-others-benefited-more-since-the-inauguration-here" target="_blank" rel="noreferrer noopener">While Elon Musk Has Been At The Center Of Trump's Presidency In The First Three Weeks, Data Shows His Rivals Jeff Bezos, Mark Zuckerberg And Others Benefited More Since The Inauguration: Here's More</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

$XRP

Bitcoin, Altcoin Set To Rise With 'Irrational Valuations,' According To Crypto Analyst, But A 'Big' Crisis Looms Afterwards

Morgan Stanley's chief investment officer Mike Wilson has suggested that the Department of Government Efficiency (DOGE), led by Elon Musk, could play a pivotal role in revitalizing the US economy. This comes amid ongoing discussions about government spending and economic growth.
What Happened: Wilson said in a CNBC interview that the bank&#8217;s optimistic outlook involves a reduction in government size, which could lead to increased unemployment and prompt the Federal Reserve to lower interest rates.
Wilson noted that DOGE has already pinpointed tens of billions in government waste.
He believes that achieving a balanced federal budget could spur market growth in 2025, similar to the economic boost following President Clinton&#8217;s 1994 budget cuts.
&#8220;Probably the most underestimated part&nbsp;of the administration is DOGE.&nbsp;I think there's a lot&nbsp;of skepticism on this, but&nbsp;the reality is that's&nbsp;possibly the most bullish thing&nbsp;that could happen," he said.
He stressed that while specific budget cuts aren&#8217;t necessary, slowing expenditure growth is vital. The U.S. national debt stands at $36.2 trillion, having risen by&nbsp;nearly $2.1 trillion in the&nbsp;past year.
&#8220;We&nbsp;just need to freeze spending,&nbsp;we don't really need to&nbsp;cut a lot of spending," Wilson added.
Why It Matters: The&nbsp;<a href="https://www.benzinga.com/25/02/43585332/trump-orders-scott-bessent-to-rip-the-waste-out-ends-penny-production-after-elon-musks-doge-report">recent decision</a>&nbsp;by President Donald Trump to halt penny production reflects DOGE&#8217;s influence on fiscal policies. This move followed Musk&#8217;s department highlighting the inefficiency of penny production, which cost taxpayers $179 million in 2023.
Moreover,&nbsp;<a href="https://www.benzinga.com/news/25/02/43426165/elon-musks-daily-4-billion-doge-target-will-lead-to-30-cut-in-federal-spending-says-economist-jason-furman">Elon Musk&#8217;s ambitious target</a>&nbsp;to cut federal spending by $4 billion daily by 2026 could lead to a 30% reduction in government spending, excluding interest and Social Security benefits.
This initiative involves notable Silicon Valley figures, including Andreessen Horowitz co-founder Marc Andreessen and Uber Technologies Inc. co-founder Travis Kalanick.
Additionally, Musk has advocated for&nbsp;<a href="https://www.benzinga.com/25/02/43425216/elon-musk-supports-putting-treasury-department-operations-on-blockchain-to-fix-irregularities">implementing blockchain technology</a>&nbsp;within the Treasury Department to address payment irregularities, underscoring his commitment to efficiency and transparency.
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
<div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="Morgan Stanley&#039;s Mike Wilson: Markets are likely to be choppy for the next 3-6 months" width="500" height="281" src="https://www.youtube.com/embed/ycQdywt8WH4?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div>
</figure>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/25/02/43754366/mark-zuckerberg-follows-elon-musks-footsteps-as-meta-reportedly-plans-major-investment-into-ai-powered-humanoid-robots">Mark Zuckerberg Follows Elon Musk&#8217;s Footsteps As Meta Reportedly Plans Major Investment Into AI-Powered Humanoid Robots</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Economics

Elon Musk's DOGE Likely Most 'Underestimated' Part Of Trump Administration, Says Morgan Stanley's CIO: 'Most Bullish Thing' That Could Happen To US Economy

Bill Gates, co-founder of&nbsp;Microsoft Corp.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), expressed regret over&nbsp;leaving Harvard University to start&nbsp;the tech giant.
What Happened:&nbsp;Gates, who was a Harvard undergraduate at the time, struggled&nbsp;with the decision to leave&nbsp;school despite having a great time there, according <a href="https://www.cnbc.com/2025/02/14/bill-gates-i-regretted-leaving-harvard-university-to-start-microsoft.html">to</a> a CNBC report.
The urgency to leave came after his high school friend,&nbsp;Paul Allen, showed him a magazine featuring the Altair 8800, which they believed marked the beginning of a new industry.
"The panic about, ‘God, it's happening without us,' was when Popular Electronics had the kit computer [on its cover]. Little did we know, [MITS] basically hadn't assembled any of them," said Gates.
Gates attempted to manage Microsoft from afar while still attending Harvard but ultimately realized the need for his full attention on the company.
He even tried to have early Microsoft programmer Ric Weiland "take charge," but Weiland eventually left for graduate school.
Gates never completed his degree, serving as Microsoft&#8217;s CEO until 2000. Despite the success, Gates does not recommend dropping out of college, emphasizing the importance of a broad education.
Today, Microsoft is valued at over $3 trillion, having revolutionized the computer industry. Gates reflects on the pivotal moment that led to Microsoft&#8217;s creation and the challenges of balancing education with entrepreneurial ambitions.
Why It Matters: Gates&#8217; reflections on his early days at Microsoft provide insight into the tech industry&#8217;s evolution and the challenges faced by its pioneers.
His decision to leave Harvard was influenced by the potential he saw in the emerging computer industry, a vision shared with&nbsp;Paul Allen.
This pivotal moment not only shaped Gates&#8217; career but also set the stage for Microsoft&#8217;s impact on the tech world.
In recent interviews, Gates has <a href="https://www.benzinga.com/tech/25/02/43680696/bill-gates-has-a-soft-spot-for-intel-but-says-the-chip-giant-has-lost-its-way-questions-whether-the-company-can-recover-after-ceo-exit-and-falling-behind-in-ai">shared his thoughts</a> on other industry giants. He expressed disappointment in Intel Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) decline, noting the company&#8217;s struggles to keep up with advancements in chip design and manufacturing.
Gates also shared his <a href="https://www.benzinga.com/25/02/43589437/bill-gates-on-musk-and-bezos-space-obsession-im-not-a-big-mars-person-its-not-a-very-hospitable-place">views on space exploration</a>, stating he would rather focus on addressing Earth&#8217;s challenges than colonizing Mars, unlike&nbsp;Elon Musk&nbsp;and&nbsp;Jeff Bezos.
Furthermore, Gates <a href="https://www.benzinga.com/tech/25/02/43577868/bill-gates-says-steve-jobs-once-told-him-i-wish-youd-take-acid-that-would-enhance-microsofts-product-design-more-i-envy-those-skills-im-not-in-his-league">recounted an anecdote</a> involving Apple Inc. co-founder&nbsp;Steve Jobs, who once suggested that experimenting with hallucinogens might enhance Microsoft&#8217;s product design.
Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/25/02/43754366/mark-zuckerberg-follows-elon-musks-footsteps-as-meta-reportedly-plans-major-investment-into-ai-powered-humanoid-robots">Mark Zuckerberg Follows Elon Musk&#8217;s Footsteps As Meta Reportedly Plans Major Investment Into AI-Powered Humanoid Robots</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Bill Gates Wanted A Friend To 'Take Charge' Of Microsoft Due To Regret Over Leaving Harvard, But Here's Why He Panicked And Dropped Out

Activist investor Dan Loeb‘s Third Point LLC has significantly ramped up its stakes in Flutter Entertainment (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FLUT#NYSE">FLUT</a>), Elon Musk&#8217;s Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), and Mark Zuckerberg&#8217;s Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) during the final quarter of 2024.
What Happened: According to recent 13F filings, Third Point acquired&nbsp;nearly $91 million worth of&nbsp;Flutter shares, marking a 70% surge in its position. This strategic move positioned the sports betting stock as the fund&#8217;s 10th largest holding, valued at nearly $225 million, as per InsiderScore data.
The investment in Flutter paid off for Loeb, with the company&#8217;s shares witnessing a near 9% rise&nbsp;in the fourth quarter. The&nbsp;stock has maintained its positive momentum in 2025, ending Friday&#8217;s session at a record high with a 15% increase.
See Also: <a href="https://www.benzinga.com/markets/25/02/43753772/jeff-bezos-backed-anthropic-fights-us-proposal-blocking-google-from-investing-in-ai-startups-says-it-would-benefit-rivals-openai-mark-zuckerbergs-meta">Jeff Bezos-Backed Anthropic Fights US Proposal Blocking Google From Investing In AI Startups, Says It Would Benefit Rivals OpenAI, Mark Zuckerberg&#8217;s Meta</a>
Loeb also bolstered his stake in Zuckerberg&#8217;s Meta, the parent company of Facebook, by 22%. This augmentation, totaling over $70.4 million, elevated the total investment to more than $389 million. Meta now stands as&nbsp;the fourth largest holding in&nbsp;Third Point&#8217;s portfolio and is the only one among the top five to experience net buying during the quarter.
This marks a significant turnaround for Loeb, who had previously&nbsp;slashed his Meta holding by&nbsp;over 50% in&nbsp;the third quarter of 2024. Meta concluded the fourth quarter with a slight increase of&nbsp;over 2%, marking its eighth&nbsp;consecutive winning quarter. The tech behemoth has soared&nbsp;nearly 23% so far this year.
However, not all tech stocks were favored by Third Point in the last quarter of 2024. The hedge fund trimmed its stake in Microsoft by 31% and in&nbsp;Amazon&nbsp;by nearly 7%. It also sold its entire stake in Apple. MSFT closed 1% higher in the final quarter of 2024 but is down over 2% year-to-date. Meanwhile, AMZN surged 23% last quarter and has gained nearly 4% so far in 2025.
Dan Loeb‘s Mag 7 Holdings 
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Stocks</td>
<td>Buy/Sold</td>
<td>Change %</td>
</tr>
<tr>
<td>Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>)</td>
<td>-930,000&nbsp;</td>
<td>100%</td>
</tr>
<tr>
<td>Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>)</td>
<td>+120,000&nbsp;</td>
<td>22%</td>
</tr>
<tr>
<td>Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)</td>
<td>+100,000</td>
<td>25%</td>
</tr>
<tr>
<td>Amazon Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>)</td>
<td>-250,000</td>
<td>7%</td>
</tr>
<tr>
<td>Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>)</td>
<td>-270,000</td>
<td>31%</td>
</tr>
</tbody>
</table>
</figure>
Why It Matters: The&nbsp;billionaire investor has&nbsp;expressed optimism for&nbsp;a more favorable stock investing&nbsp;environment by 2025, despite the unconventional policy-making approach of the Trump administration, reported Reuters. 
Loeb anticipates a surge in M&amp;A activity this year as regulatory and government hurdles ease, prompting banks to offload more consumer and mortgage portfolios. Third Point aims to capitalize on these opportunities, focusing on high single-digit unlevered yields.
Loeb&#8217;s hedge fund, Third Point, has begun reaping the benefits of this forecast, with its flagship TP offshore fund experiencing a 2.7% increase as of February. 12, following a 25.5% surge last year, according to data from <a href="http://pro.benzinga.com">Benzinga Pro.</a>
Third Point, known for its diverse strategies including stock picking, activist campaigns, and credit investments, is one of the most closely watched hedge funds on Wall Street.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/earnings/earnings-beats/25/02/43740996/palo-alto-analysts-optimistic-on-revenue-growth-expanding-market-share" target="_blank" rel="noreferrer noopener">Palo Alto Analysts Optimistic On Revenue Growth, Expanding Market Share</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

FLUT

Billionaire Investor Dan Loeb Boosts Stake In Mark Zuckerberg's Meta, Elon Musk's Tesla, But Sold These Three Mag 7 Stocks In Q4

OpenAI on Friday turned down a substantial offer from Elon Musk and his consortium of investors to <a href="https://www.benzinga.com/media/25/02/43646042/elon-musks-97-4-billion-openai-takeover-bid-reportedly-not-received-by-chatgpt-parent-another-one-of-his-tactics-says-sam-altman">acquire the company&#8217;s assets</a>.
What Happened: The board of OpenAI, a leading artificial intelligence company, has rejected a $97.4 billion bid from Musk and his investors, <a href="https://www.wsj.com/tech/ai/openai-elon-musk-bid-rejected-sam-altman-62ba1ca5">reported</a> the Wall Street Journal. The decision was communicated to Musk&#8217;s lawyer in a letter, which stated that the offer was not in the best interests of OpenAI&#8217;s mission.
OpenAI&#8217;s chairman,&nbsp;Bret Taylor, emphasized that the company is not for sale and the board unanimously turned down Musk&#8217;s&nbsp;offer.
On Monday, Musk and his investors submitted an unexpected buyout proposal to OpenAI's board. However, in a court filing Wednesday, his legal team stated that Musk would drop the takeover bid if OpenAI agreed to halt its transition to a for-profit model.
See Also:&nbsp;<a href="https://www.benzinga.com/news/global/25/02/43748007/inflation-spikes-in-january-wall-street-rallies-on-ukraine-peace-talks-delayed-tariffs-this-week-in-the-markets" target="_blank" rel="noreferrer noopener">Inflation Spikes In January, Wall Street Rallies On Ukraine Peace Talks, Delayed Tariffs: This Week In The Markets</a>
The board rejected Musk&#8217;s offer to withdraw his bid under certain conditions, arguing that it was not a legitimate proposal. Meanwhile, Musk&#8217;s attorney, Marc Toberoff, criticized the board&#8217;s actions, calling it a &#8220;classic self-dealing transaction.&#8221;
Why It Matters: Musk&#8217;s bid to acquire OpenAI has been a topic of intense speculation. This decision is the latest development in <a href="https://www.benzinga.com/25/02/43609104/elon-musk-co-founded-openai-now-hes-bidding-974b-to-take-back-the-company">Musk&#8217;s ongoing dispute</a> with OpenAI and its CEO,&nbsp;Sam Altman. Musk, who co-founded OpenAI in 2015, has accused the company of prioritizing profit over the technology&#8217;s benefits to humanity.
OpenAI is undergoing a structural transition that requires approval from its board of directors and the attorneys general of Delaware and California. The board maintains that Musk's bid is irrelevant to assessing the nonprofit's fair value.
The bid was seen by Sam Altman, the OpenAI CEO, as a move to&nbsp;&#8220;<a href="https://in.benzinga.com/markets/equities/25/02/43622400/sam-altman-says-elon-musks-97b-bid-for-openai-is-a-move-to-slow-down-a-competitor">slow down&#8221; a competitor</a>. In an interview with&nbsp;CNBC&nbsp;on Tuesday, he dismissed the notion that Musk was genuinely interested in acquiring OpenAI.
Meanwhile, Musk&#8217;s bid for OpenAI was also viewed as a&nbsp;<a href="https://in.benzinga.com/analyst-ratings/analyst-color/25/02/43653531/elon-musks-97b-openai-bid-a-distraction-from-teslas-challenges-says-analyst-as-tsla-stock-set-for-sixth-consecutive-drop">distraction from Tesla&#8217;s challenges</a>. Analysts at&nbsp;Oppenheimer&nbsp;said Musk's bid for OpenAI is a discount to the AI company's Oct. 2024 capital raise and unlikely to lead to any discussion. 
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/equities/25/02/43746268/david-tepper-rausing-family-boost-nvidia-holdings-ahead-of-stock-volatility" target="_blank" rel="noreferrer noopener">David Tepper, Rausing Family Boost Nvidia Holdings Ahead Of Stock Volatility</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photos courtesy: Shutterstock

OpenAI Board Unanimously Rejects Elon Musk's $97 Billion Acquisition Proposal Days After Sam Altman Calls It A Move To 'Slow Down' A Competitor

The latest announcement is out from Bolt Projects Holdings (BSLK). Golden Arrow Merger Corp. (GAMC) successfully completed a business combination w...

Bolt Projects Holdings Embarks on New Growth Chapter Post-Merger

Catalyst Watch: August Jobs Report, Intel event, Broadcom earnings, and Costco sales

Wall Street Breakfast: The Week Ahead

Bolt Projects Holdings GAAP EPS of $0.32, revenue of $0.01M

An update from Bolt Projects Holdings ( ($BSLK) ) is now available. Bolt Projects Holdings, Inc. has entered a Securities Purchase Agreement to sel...

Bolt Projects Holdings Enters Stock Sale Agreement

An announcement from Bolt Projects Holdings ( ($BSLK) ) is now available. On February 14, 2025, Bolt Projects Holdings, Inc. reached a settlement a...

Bolt Projects Holdings Settles Tax Liabilities with Golden Arrow

ATRO

BAER

BIRD

BMRN

BMWYY

CASY

CGBS

CHPT

COST

DELL

DKNG

DLTR

DOCU

DPRO

ELTP

ETSY

GMVHF

GOEV

GTHX

GTLB

JKHY

JNPR

KRUS

LGCL

LITB

PENN

PMAX

RAIL

RBLX

RENT

RRGB

SHLS

SKYW

SMCI

SPWH

SWBI

TERN

TVTX

VRCA

VZIO

XPEV

YUMC

Press Releases

Bolt Threads Announces Closing of Business Combination and Will Begin Trading on Nasdaq Under New Symbol "BSLK"

Bolt Projects Holdings Announces More Brands Choosing b-silk™ to Differentiate Their Product Offerings

Bolt Projects Reports Q3 2024 Financial Results

GAMC

AdvanSix

Braskem

Cabot

Core Molding Technologies Inc Common Stock

Core Molding Technologies

Crown Electrokinetics Corp. - Common Stock

Crown ElectroKinetics

Gulf Resources

Hawkins

Koppers Hldgs

Kronos Worldwide

Loop Industries

Mativ Holdings

Orion

Olin

Origin Materials, Inc. - Class A Common Stock

Origin Mat

PureCycle Technologies, Inc. - Common stock

PureCycle Technologies

Tantech Hldgs

Tronox Holdings

Trinseo

Westlake

Westlake Chemical Partners LP Common Units representing limited partner interests

Westlake Chemical

Comments

Bolt Projects Holdings

Noticias

Últimas noticias sobre Bolt Projects Holdings (NASDAQ:BSLK) Bolsa

La gente también mira

Noticias

SOCIO/CONTRIBUIDOR

BENZINGA GLOBAL