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Investors with a lot of money to spend have taken a bearish stance on DoorDash (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DASH#NASDAQ">DASH</a>).
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with DASH, it often means somebody knows something is about to happen.
So how do we know what these investors just did? 
Today, <a href="https://pro.benzinga.com/?utm_source=insights">Benzinga</a>'s options scanner spotted 13 uncommon options trades for DoorDash.
This isn't normal.
The overall sentiment of these big-money traders is split between 30% bullish and 46%, bearish.
Out of all of the special options we uncovered, 9 are puts, for a total amount of $294,568, and 4 are calls, for a total amount of $798,220.
<h3>Expected Price Movements</h3>
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $125.0 to $220.0 for DoorDash over the last 3 months. 
<h3>Volume &amp; Open Interest Trends</h3>
In today's trading context, the average open interest for options of DoorDash stands at 346.4, with a total volume reaching 1,515.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in DoorDash, situated within the strike price corridor from $125.0 to $220.0, throughout the last 30 days.
<h3>DoorDash Option Volume And Open Interest Over Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1738602058_0.png" alt="Options Call Chart" />
<h3>Noteworthy Options Activity:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th align="right">Open Interest</th>
<th align="right">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>DASH</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>05/16/25</td>
<td>$7.9</td>
<td>$7.4</td>
<td>$7.49</td>
<td>$220.00</td>
<td>$564.0K</td>
<td align="right">344</td>
<td align="right">0</td>
</tr>
<tr>
<td>DASH</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>09/19/25</td>
<td>$26.35</td>
<td>$25.0</td>
<td>$25.8</td>
<td>$190.00</td>
<td>$154.8K</td>
<td align="right">536</td>
<td align="right">60</td>
</tr>
<tr>
<td>DASH</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>02/21/25</td>
<td>$6.8</td>
<td>$6.65</td>
<td>$6.8</td>
<td>$200.00</td>
<td>$46.9K</td>
<td align="right">569</td>
<td align="right">83</td>
</tr>
<tr>
<td>DASH</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>08/15/25</td>
<td>$17.85</td>
<td>$17.3</td>
<td>$17.45</td>
<td>$180.00</td>
<td>$38.3K</td>
<td align="right">49</td>
<td align="right">38</td>
</tr>
<tr>
<td>DASH</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>08/15/25</td>
<td>$17.75</td>
<td>$17.2</td>
<td>$17.6</td>
<td>$180.00</td>
<td>$35.2K</td>
<td align="right">49</td>
<td align="right">342</td>
</tr>
</tbody>
</table>

<h3>About DoorDash</h3>
Founded in 2013 and headquartered in San Francisco, DoorDash is an online delivery demand aggregator. Consumers can use its app to order food items on-demand for delivery or in-store from merchants. Through the acquisition of Wolt in 2022, the firm also provides this service in Europe and Asia. DoorDash creates a marketplace for merchants to establish a presence online, market their offerings, and meet demand through delivery. The firm provides similar service to nonrestaurant businesses, such as grocery, retail, and pet supplies. Dash is also rolling out nascent technology like drone delivery in an effort to continually innovate and provide the best possible service to supply-side and demand-side contingents of its marketplace.
After a thorough review of the options trading surrounding DoorDash, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
<h3>Current Position of DoorDash</h3>
<ul>
<li>With a trading volume of 857,143, the price of DASH is down by -1.16%, reaching $186.64.</li>
<li>Current RSI values indicate that the stock is may be overbought.</li>
<li>Next earnings report is scheduled for 8 days from now.</li>
</ul>
<h3>Expert Opinions on DoorDash</h3>
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $199.2.
Turn $1000 into $1270 in just 20 days?
20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. <a href="https://www.benzinga.com/premium/ideas/options-moneyline-2/?t=Moop1arja3be22op14&amp;utm_source=benzinga-insights">Click here for access</a>. 
&#x2A; An analyst from Morgan Stanley has decided to maintain their Overweight rating on DoorDash, which currently sits at a price target of $200. 
&#x2A; An analyst from Wells Fargo persists with their Equal-Weight rating on DoorDash, maintaining a target price of $166. 
&#x2A; An analyst from Keybanc persists with their Overweight rating on DoorDash, maintaining a target price of $225. 
&#x2A; Maintaining their stance, an analyst from B of A Securities continues to hold a Buy rating for DoorDash, targeting a price of $205. 
&#x2A; Maintaining their stance, an analyst from UBS continues to hold a Neutral rating for DoorDash, targeting a price of $200. 
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for DoorDash, <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> gives you real-time options trades alerts.

Options

Markets

DASH

Unpacking the Latest Options Trading Trends in DoorDash

Whales with a lot of money to spend have taken a noticeably bearish stance on Netflix.
Looking at options history for Netflix (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) we detected 69 trades.
If we consider the specifics of each trade, it is accurate to state that 34% of the investors opened trades with bullish expectations and 44% with bearish.
From the overall spotted trades, 17 are puts, for a total amount of $693,138 and 52, calls, for a total amount of $3,512,079.
<h3>Projected Price Targets</h3>
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $600.0 to $1260.0 for Netflix over the last 3 months. 
<h3>Volume &amp; Open Interest Trends</h3>
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Netflix's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Netflix's substantial trades, within a strike price spectrum from $600.0 to $1260.0 over the preceding 30 days.
<h3>Netflix Call and Put Volume: 30-Day Overview</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1738602053_0.png" alt="Options Call Chart" />
<h3>Significant Options Trades Detected:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th align="right">Open Interest</th>
<th align="right">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>NFLX</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>06/20/25</td>
<td>$92.0</td>
<td>$91.1</td>
<td>$92.0</td>
<td>$970.00</td>
<td>$598.0K</td>
<td align="right">338</td>
<td align="right">147</td>
</tr>
<tr>
<td>NFLX</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>06/20/25</td>
<td>$34.1</td>
<td>$33.9</td>
<td>$34.1</td>
<td>$1120.00</td>
<td>$187.5K</td>
<td align="right">251</td>
<td align="right">57</td>
</tr>
<tr>
<td>NFLX</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>02/07/25</td>
<td>$51.75</td>
<td>$48.5</td>
<td>$50.85</td>
<td>$925.00</td>
<td>$157.1K</td>
<td align="right">50</td>
<td align="right">47</td>
</tr>
<tr>
<td>NFLX</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>02/14/25</td>
<td>$10.9</td>
<td>$10.2</td>
<td>$10.55</td>
<td>$950.00</td>
<td>$98.1K</td>
<td align="right">327</td>
<td align="right">203</td>
</tr>
<tr>
<td>NFLX</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>02/14/25</td>
<td>$43.35</td>
<td>$42.75</td>
<td>$43.35</td>
<td>$945.00</td>
<td>$86.7K</td>
<td align="right">27</td>
<td align="right">84</td>
</tr>
</tbody>
</table>

<h3>About Netflix</h3>
Netflix's relatively simple business model involves only one business, its streaming service. It has the biggest television entertainment subscriber base in both the United States and the collective international market, with more than 300 million subscribers globally. Netflix has exposure to nearly the entire global population outside of China. The firm has traditionally avoided a regular slate of live programming or sports content, instead focusing on on-demand access to episodic television, movies, and documentaries. The firm introduced ad-supported subscription plans in 2022, giving the firm exposure to the advertising market in addition to the subscription fees that have historically accounted for nearly all its revenue.
In light of the recent options history for Netflix, it's now appropriate to focus on the company itself. We aim to explore its current performance.
<h3>Netflix's Current Market Status</h3>
<ul>
<li>Currently trading with a volume of 1,638,270, the NFLX's price is up by 0.34%, now at $980.07. </li>
<li>RSI readings suggest the stock is currently is currently neutral between overbought and oversold.</li>
<li>Anticipated earnings release is in 73 days.</li>
</ul>
<h3>Professional Analyst Ratings for Netflix</h3>
5 market experts have recently issued ratings for this stock, with a consensus target price of $989.0.
Turn $1000 into $1270 in just 20 days?
20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. <a href="https://www.benzinga.com/premium/ideas/options-moneyline-2/?t=Moop1arja3be22op14&amp;utm_source=benzinga-insights">Click here for access</a>. 
&#x2A; An analyst from B of A Securities persists with their Buy rating on Netflix, maintaining a target price of $1175. 
&#x2A; Consistent in their evaluation, an analyst from Barclays keeps a Underweight rating on Netflix with a target price of $715. 
&#x2A; Consistent in their evaluation, an analyst from Macquarie keeps a Outperform rating on Netflix with a target price of $1150. 
&#x2A; Consistent in their evaluation, an analyst from Guggenheim keeps a Buy rating on Netflix with a target price of $950. 
&#x2A; An analyst from Seaport Global upgraded its action to Buy with a price target of $955. 
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Netflix, <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> gives you real-time options trades alerts.

NFLX

What the Options Market Tells Us About Netflix

Whales with a lot of money to spend have taken a noticeably bullish stance on DraftKings.
Looking at options history for DraftKings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DKNG#NASDAQ">DKNG</a>) we detected 8 trades.
If we consider the specifics of each trade, it is accurate to state that 62% of the investors opened trades with bullish expectations and 37% with bearish.
From the overall spotted trades, 4 are puts, for a total amount of $266,632 and 4, calls, for a total amount of $195,434.
<h3>Projected Price Targets</h3>
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $40.0 to $46.0 for DraftKings over the recent three months. 
<h3>Volume &amp; Open Interest Development</h3>
In terms of liquidity and interest, the mean open interest for DraftKings options trades today is 779.14 with a total volume of 2,303.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for DraftKings's big money trades within a strike price range of $40.0 to $46.0 over the last 30 days.
<h3>DraftKings Option Activity Analysis: Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1738602047_0.png" alt="Options Call Chart" />
<h3>Biggest Options Spotted:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>DKNG</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>08/15/25</td>
<td>$6.45</td>
<td>$6.35</td>
<td>$6.35</td>
<td>$44.00</td>
<td>$150.5K</td>
<td>197</td>
<td>251</td>
</tr>
<tr>
<td>DKNG</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>08/15/25</td>
<td>$4.3</td>
<td>$4.2</td>
<td>$4.2</td>
<td>$46.00</td>
<td>$74.7K</td>
<td>270</td>
<td>178</td>
</tr>
<tr>
<td>DKNG</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>12/19/25</td>
<td>$8.65</td>
<td>$7.9</td>
<td>$8.65</td>
<td>$40.00</td>
<td>$51.9K</td>
<td>552</td>
<td>0</td>
</tr>
<tr>
<td>DKNG</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>03/21/25</td>
<td>$3.85</td>
<td>$3.8</td>
<td>$3.8</td>
<td>$43.00</td>
<td>$51.6K</td>
<td>1.0K</td>
<td>137</td>
</tr>
<tr>
<td>DKNG</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>02/07/25</td>
<td>$0.73</td>
<td>$0.72</td>
<td>$0.72</td>
<td>$42.50</td>
<td>$43.5K</td>
<td>1.6K</td>
<td>1.0K</td>
</tr>
</tbody>
</table>

<h3>About DraftKings</h3>
DraftKings got its start in 2012 as an innovator in daily fantasy sports. Then, following a Supreme Court ruling in 2018 that allowed states to legalize online sports wagering, the company expanded into online sports and casino gambling, where it generally holds the number two or three revenue share position across states in which it competes. DraftKings is now live with online or retail sports betting in about 30 states and iGaming in seven states, with both products available to around 40% of Canada's population. The company also operates a non-fungible token commissioned-based marketplace and develops and licenses online gaming products.
<h3>Present Market Standing of DraftKings</h3>
<ul>
<li>Currently trading with a volume of 2,616,877, the DKNG's price is down by -0.17%, now at $41.88. </li>
<li>RSI readings suggest the stock is currently may be approaching overbought.</li>
<li>Anticipated earnings release is in 10 days.</li>
</ul>
<h3>Professional Analyst Ratings for DraftKings</h3>
3 market experts have recently issued ratings for this stock, with a consensus target price of $49.333333333333336.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=Be8be9arja3be22bz20&amp;utm_source=benzinga-insights">Click here for access</a>. 
&#x2A; Maintaining their stance, an analyst from Susquehanna continues to hold a Positive rating for DraftKings, targeting a price of $54. 
&#x2A; Maintaining their stance, an analyst from JMP Securities continues to hold a Market Outperform rating for DraftKings, targeting a price of $50. 
&#x2A; An analyst from Benchmark has revised its rating downward to Buy, adjusting the price target to $44. 
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest DraftKings options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.

DKNG

Decoding DraftKings's Options Activity: What's the Big Picture?

Susquehanna analyst Joseph Stauff maintains Melco Resorts and Enter (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MLCO#NASDAQ">MLCO</a>) with a Positive and lowers the price target from $10 to $9.

Price Target

Analyst Ratings

Melco Resorts & Entertainment Limited - American Depositary Shares

MLCO

Susquehanna Maintains Positive on Melco Resorts and Enter, Lowers Price Target to $9

PayPal Holdings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PYPL#NASDAQ">PYPL</a>) will be reporting fourth-quarter earnings on Tuesday. Wall Street expects $1.12 in EPS and $8.26 billion in revenues as the company reports<a href="https://www.benzinga.com/calendars/earnings?tickers=PYPL" target="_blank" rel="noreferrer noopener"> before market hours</a>.
The stock is up 42.22% over the past year, 1.55% YTD.
Let&#8217;s look at what the charts indicate for PayPal stock and how the stock currently maps against Wall Street estimates.
Read Also: <a href="https://www.benzinga.com/trading-ideas/25/01/43175684/the-future-of-finance-3-fintech-stocks-set-to-take-wall-street-by-storm-in-2025">The Future of Finance: 3 Fintech Stocks Set to Take Wall Street by Storm in 2025</a>
<h2 class="wp-block-heading">PayPal Stock Strongly Bearish Ahead Of Q4 Earnings</h2>
PayPal stock is in a strongly bearish trend, with its share price of $87.64 trading below key exponential moving averages (EMAs) of five-day, 20-day and 50-day periods. This suggests continued selling pressure and an increased risk of further bearish movement. However, some technical indicators provide a more mixed outlook.
<figure class="wp-block-image size-full"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent020325&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="626" height="490" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/03104642/Screenshot-2025-02-03-at-9.16.30-PM.png" alt="" class="wp-image-762872" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/03104642/Screenshot-2025-02-03-at-9.16.30-PM.png 626w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/02/03104642/Screenshot-2025-02-03-at-9.16.30-PM-300x235.png 300w" sizes="(max-width: 626px) 100vw, 626px" /></a></figure>
<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent020325&amp;t=be2bearmibe3na1" target="_blank" rel="noreferrer noopener">Chart created using Benzinga Pro</a>
PayPal stock remains below its eight-day simple moving average (SMA) of $88.98, 20-day SMA of $88.47 and 50-day SMA of $87.93, signaling short-term weakness. The long-term trend, however, remains supportive, with PayPal stock well above its 200-day SMA of $73.72, reinforcing overall strength.
Momentum indicators show a neutral-to-bullish setup. The Moving Average Convergence Divergence (MACD) at 0.40 supports potential bullish movement, though the Relative Strength Index (RSI) at 48.00 suggests the stock is neither overbought nor oversold. 
PayPal stock investors should watch for a sustained move above key moving averages to confirm a shift toward bullish momentum or further downside if selling pressure persists.
<h2 class="wp-block-heading">PayPal Analysts See Limited Upside</h2>
Ratings &amp; Consensus Estimates:<a href="https://www.benzinga.com/quote/PYPL/analyst-ratings" target="_blank" rel="noreferrer noopener"> The consensus analyst rating</a> on PayPal stock stands at an Outperform currently with a price target of $90.30. Recent analyst ratings from Piper Sandler, Wells Fargo and Citigroup imply a 3.34% upside for PayPal stock with a $90 target.
PYPL Stock Price Action: PayPal stock was trading at $87.64 at the time of publication.
Read Next: 
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<li><a href="https://www.benzinga.com/government/regulations/25/02/43437906/constellation-brands-most-exposed-name-as-trump-tariffs-go-live-analysts-advise-adjusting-prices">Constellation Brands &#8216;Most Exposed Name&#8217; As Trump Tariffs Go Live: Analysts Advise Adjusting Prices</a></li>
</ul>
Image: Shutterstock

Earnings

Fintech news covering the emerging Financial Technology services sector

Fintech

Technicals

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Trading Ideas

PYPL

PayPal Stock In Danger Of Post-Earnings Dive? Q4 Preview Shows Risk

AstraZeneca Plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AZN#NASDAQ">AZN</a>) has abandoned plans for a $554.32 million (450 million pounds) vaccine manufacturing facility in the U.K. following disagreements with government officials over state support, marking a setback for Prime Minister Sir Keir Starmer's administration.
In August 2024, AstraZeneca reconsidered its planned investment in a new vaccine-manufacturing site, a departure from CEO&nbsp;Pascal Soriot's previous statement that the company was "absolutely ready to go."
Also Read: <a target="_blank" href="https://www.benzinga.com/general/biotech/25/01/43273643/fda-approves-astrazeneca-daiichi-sankyos-enhertu-for-certain-type-of-breast-cancer-patients" rel="noreferrer noopener">FDA Approves AstraZeneca, Daiichi Sankyo's Enhertu For Certain Type Of Breast Cancer Patients</a>
The U.K. Treasury, under the direction of&nbsp;Rachel Reeves, is reportedly considering decreasing government support for AstraZeneca by <a target="_blank" href="https://www.benzinga.com/general/biotech/24/08/40526625/astrazeneca-threatens-to-move-vaccine-production-amid-reduced-state-support" rel="noreferrer noopener">over 20 million pounds</a>.
As a result, AstraZeneca said it might relocate the project from Speke in Merseyside, U.K., to France.
According to the Financial Times <a target="_blank" href="https://www.ft.com/content/c38f3342-7842-4c3a-876a-3a4403bed1a2" rel="noreferrer noopener">report</a> citing sources familiar with the matter, the pharmaceutical giant rejected a revised offer of 78 million pounds in financial aid after months of negotiations.
The U.K. government initially planned to provide around 90 million pounds in support under the previous Conservative administration, including 70 million pounds in grants and 20 million pounds for research and development.
However, after Labour took office last summer, officials reviewed AstraZeneca's proposed R&amp;D investment and concluded it was lower than expected.
As a result, the government reduced its support package to 40 pounds million. Although a later offer raised this figure to 78 million pounds, AstraZeneca ultimately turned it down.
The Financial Times <a target="_blank" href="https://www.ft.com/content/c38f3342-7842-4c3a-876a-3a4403bed1a2" rel="noreferrer noopener">report</a> adds that AstraZeneca also raised broader concerns about the UK's pharmaceutical environment during discussions about the Liverpool-based plant.
These included the NHS's rejection of its breast cancer drug Enhertu and the health service's approach to drug pricing, sources said.
One individual close to AstraZeneca described the industry's relationship with U.K. officials as "toxic," arguing that the country now has one of the least favorable commercial environments for pharmaceuticals in the Western world.
AstraZeneca recently announced a plan to invest C$820 million ($570 million)&nbsp;in Canada, creating&nbsp;more than 700 jobs <a target="_blank" href="https://www.benzinga.com/general/biotech/25/01/43190131/astrazeneca-to-pump-570-million-into-canada-driving-expansion-job-growth" rel="noreferrer noopener">across all business areas</a>.
The&nbsp;investment&nbsp;will support the move to a larger, state-of-the-art office facility in the <a target="_blank" href="https://www.benzinga.com/topic/canada" rel="noreferrer noopener">greater Toronto area</a>.
Price Action: At last check on Monday, AZN stock was down 0.56% to $70.37.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/25/02/43429620/triumph-group-reaches-3b-acquisition-deal-with-private-equity-investors" target="_blank" rel="noreferrer noopener">Triumph Group Agrees To Go Private In $3 Billion Acquisition Deal; Stock Jumps</a></li>
</ul>
Image by Robert Way via Shutterstock

Biotech

Government

Large Cap

Health Care

Media

General

AstraZeneca Blames 'Toxic' Climate As It Walks Away from Over $550 Million UK Vaccine Plant

Susquehanna analyst Charles Minervino maintains Baker Hughes (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKR#NASDAQ">BKR</a>) with a Positive and raises the price target from $53 to $55.

Susquehanna Maintains Positive on Baker Hughes, Raises Price Target to $55

<a href="https://x.com/wsteaks/status/1886454081377435857" title="https://x.com/wsteaks/status/1886454081377435857">https://x.com/wsteaks/status/1886454081377435857</a>

Macro Economic Events

Politics

Economics

ABC News Reporter Will Steakin Posts On X "SoS Marco Rubio has been made acting administrator of USAID, multiple sources tell ABC News"

Cleveland-Cliffs Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLF#NYSE">CLF</a>) shares are trading lower Monday after the<a target="_blank" href="https://www.benzinga.com/pressreleases/25/02/b43431003/cleveland-cliffs-provides-preliminary-fourth-quarter-and-full-year-2024-results" rel="noreferrer noopener"> company reported preliminary results</a>.
For the fourth quarter of 2024, Cleveland-Cliffs expects steel shipments of 3.8 million net tons, with revenues of around $4.30 billion <a href="https://www.benzinga.com/calendars/guidance" target="_blank" rel="noreferrer noopener">(vs. consensus of $4.49 billion)</a>.
Also, the company anticipates an adjusted EBITDA loss of about $85 million in the quarter.
For 2024, steel shipments are expected to reach 15.6 million net tons, with revenues around $19.2 billion (vs. street view of $19.37 billion) and adjusted EBITDA of around $775 million.
<a href="https://www.benzinga.com//node/41690362">Including Stelco</a>, the pro-forma adjusted EBITDA for 2024 is expected to be about $1.2 billion.
Cleveland-Cliffs attributed its weaker results, particularly in fourth-quarter, to subdued demand from the North American automotive sector.
Lourenco Goncalves, Cliffs&#8217; Chairman, President, and CEO, said, &#8221;So far into this new year, we have already seen improvements in our order book, both automotive and non-automotive, and are confident that the manufacturing-friendly items on President Trump&#8217;s agenda will have an outsized benefit on Cleveland-Cliffs.&#8221;
&#8221;This includes the recently announced tariffs on Mexico, Canada, and China and the expectation that there is more to come on steel specifically. Stelco has been a major contributor since day 1 and a substantial portion of our expected synergies are already in motion. Based on their experience in 2018, we expect Stelco will benefit from steel tariffs as well. We look forward to the success in 2025 that all of these developments will ultimately bring.&#8221;
&#8220;We applaud President Trump for taking decisive action on tariffs. Cleveland-Cliffs is a firm believer in the long-term positive impact that tariffs can play to make America a manufacturing superpower once again.&#8221;
Apart from this, Cleveland-Cliffs disclosed its intention to offer $750 million in Senior Guaranteed Notes due 2031, subject to market <a target="_blank" href="https://www.benzinga.com/pressreleases/25/02/b43431022/cleveland-cliffs-inc-announces-proposed-offering-of-750-million-of-senior-unsecured-guaranteed-not" rel="noreferrer noopener">conditions and other factors</a>.
The company plans to use the net proceeds for general corporate purposes, which includes the repayment of borrowings under its asset-based credit facility.
The company plans to release fourth-quarter and full-year 2024 earnings <a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener">results on February 24, 2025</a>.
Investors can gain exposure to the stock via SPDR S&amp;P Metals &amp; Mining ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XME#NYSE">XME</a>) and VanEck Steel ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLX#NYSE">SLX</a>).
Price Action: CLF shares are down 2.64% at $9.97 at the last check Monday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/25/01/43230432/ancora-holdings-readies-proxy-fight-at-us-steel-amid-merger-chaos" target="_blank" rel="noreferrer noopener">Ancora Holdings Readies Proxy Fight At US Steel Amid Merger Chaos</a></li>
</ul>
Photo: Vladimir Mulder/Shutterstock.com.

Equities

Mid Cap

Guidance

Movers

Cleveland-Cliffs Predicts Q4 Revenue Miss & EBITDA Loss, CEO Applauds Trump's Tariffs For 2025 Boost

Cantor Fitzgerald analyst Troy Jensen reiterates Stratasys (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SSYS#NASDAQ">SSYS</a>) with a Overweight and maintains $12 price target.

Reiteration

SSYS

Cantor Fitzgerald Reiterates Overweight on Stratasys, Maintains $12 Price Target

Senior White House Official Says Trump Administration Plans To Send Notification To Congress Soon Plans To Revamp USAID; Trump Has Entrusted Elon Musk To Oversee The Efficiency Of USAID

Stifel analyst Mark Astrachan maintains Intl Flavors &amp; Fragrances (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IFF#NYSE">IFF</a>) with a Buy and lowers the price target from $113 to $105.

Stifel Maintains Buy on Intl Flavors & Fragrances, Lowers Price Target to $105

Stifel analyst Mark Astrachan maintains e.l.f. Beauty (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ELF#NYSE">ELF</a>) with a Hold and lowers the price target from $115 to $105.

Stifel Maintains Hold on e.l.f. Beauty, Lowers Price Target to $105

Investors with significant funds have taken a bearish position in Bitdeer Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BTDR#NASDAQ">BTDR</a>), a development that retail traders should be aware of.
This was brought to our attention today through our monitoring of publicly accessible options data at Benzinga. The exact nature of these investors remains a mystery, but such a major move in BTDR usually indicates foreknowledge of upcoming events.
Today, Benzinga's options scanner identified 11 options transactions for Bitdeer Technologies. This is an unusual occurrence. The sentiment among these large-scale traders is mixed, with 18% being bullish and 72% bearish. Of all the options we discovered, 10 are puts, valued at $647,878, and there was a single call, worth $36,540.
<h3>What's The Price Target?</h3>
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $15.0 to $17.5 for Bitdeer Technologies over the last 3 months. 
<h3>Volume &amp; Open Interest Trends</h3>
In today's trading context, the average open interest for options of Bitdeer Technologies stands at 364.0, with a total volume reaching 17,200.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Bitdeer Technologies, situated within the strike price corridor from $15.0 to $17.5, throughout the last 30 days.
<h3>Bitdeer Technologies Call and Put Volume: 30-Day Overview</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1738601132_0.png" alt="Options Call Chart" />
<h3>Significant Options Trades Detected:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th align="right">Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>BTDR</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>02/07/25</td>
<td>$1.35</td>
<td>$1.15</td>
<td>$1.3</td>
<td>$17.50</td>
<td>$130.0K</td>
<td align="right">505</td>
<td>1.0K</td>
</tr>
<tr>
<td>BTDR</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>02/07/25</td>
<td>$1.3</td>
<td>$0.95</td>
<td>$1.25</td>
<td>$17.00</td>
<td>$125.0K</td>
<td align="right">59</td>
<td>1.0K</td>
</tr>
<tr>
<td>BTDR</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>02/07/25</td>
<td>$0.95</td>
<td>$0.8</td>
<td>$0.85</td>
<td>$16.00</td>
<td>$85.0K</td>
<td align="right">632</td>
<td>2.0K</td>
</tr>
<tr>
<td>BTDR</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>02/07/25</td>
<td>$0.75</td>
<td>$0.6</td>
<td>$0.75</td>
<td>$16.00</td>
<td>$74.4K</td>
<td align="right">632</td>
<td>1.0K</td>
</tr>
<tr>
<td>BTDR</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>02/07/25</td>
<td>$0.8</td>
<td>$0.75</td>
<td>$0.8</td>
<td>$16.00</td>
<td>$56.0K</td>
<td align="right">632</td>
<td>2.7K</td>
</tr>
</tbody>
</table>

<h3>About Bitdeer Technologies</h3>
Bitdeer Technologies Group is principally engaged in provision of digital asset mining services. Its majority business segments are: proprietary mining, cloud hash rate sharing and cloud hosting. The company operates five proprietary mining datacenters in the United States and Norway.
Following our analysis of the options activities associated with Bitdeer Technologies, we pivot to a closer look at the company's own performance.
<h3>Current Position of Bitdeer Technologies</h3>
<ul>
<li>With a trading volume of 4,273,977, the price of BTDR is down by -6.86%, reaching $17.25.</li>
<li>Current RSI values indicate that the stock is is currently neutral between overbought and oversold.</li>
<li>Next earnings report is scheduled for 52 days from now.</li>
</ul>
<h3>What The Experts Say On Bitdeer Technologies</h3>
4 market experts have recently issued ratings for this stock, with a consensus target price of $22.5.
Turn $1000 into $1270 in just 20 days?
20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. <a href="https://www.benzinga.com/premium/ideas/options-moneyline-2/?t=Moop1arja3be22op14&amp;utm_source=benzinga-insights">Click here for access</a>. 
&#x2A; Consistent in their evaluation, an analyst from Needham keeps a Buy rating on Bitdeer Technologies with a target price of $22. 
&#x2A; In a cautious move, an analyst from Needham downgraded its rating to Buy, setting a price target of $22. 
&#x2A; An analyst from Rosenblatt has decided to maintain their Buy rating on Bitdeer Technologies, which currently sits at a price target of $22. 
&#x2A; Maintaining their stance, an analyst from Northland Capital Markets continues to hold a Outperform rating for Bitdeer Technologies, targeting a price of $24. 
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Bitdeer Technologies options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.

BTDR

Bitdeer Technologies's Options Frenzy: What You Need to Know

Whales with a lot of money to spend have taken a noticeably bullish stance on Moderna.
Looking at options history for Moderna (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRNA#NASDAQ">MRNA</a>) we detected 26 trades.
If we consider the specifics of each trade, it is accurate to state that 46% of the investors opened trades with bullish expectations and 38% with bearish.
From the overall spotted trades, 9 are puts, for a total amount of $1,549,640 and 17, calls, for a total amount of $974,753.
<h3>Expected Price Movements</h3>
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $30.0 to $140.0 for Moderna over the last 3 months. 
<h3>Volume &amp; Open Interest Development</h3>
In terms of liquidity and interest, the mean open interest for Moderna options trades today is 982.53 with a total volume of 5,971.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Moderna's big money trades within a strike price range of $30.0 to $140.0 over the last 30 days.
<h3>Moderna Option Volume And Open Interest Over Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1738601127_0.png" alt="Options Call Chart" />
<h3>Largest Options Trades Observed:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>MRNA</td>
<td>PUT</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>01/16/26</td>
<td>$6.5</td>
<td>$4.25</td>
<td>$5.2</td>
<td>$30.00</td>
<td>$780.0K</td>
<td>6.0K</td>
<td>1.5K</td>
</tr>
<tr>
<td>MRNA</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>02/07/25</td>
<td>$1.6</td>
<td>$1.58</td>
<td>$1.6</td>
<td>$38.00</td>
<td>$329.2K</td>
<td>881</td>
<td>4</td>
</tr>
<tr>
<td>MRNA</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/16/26</td>
<td>$10.5</td>
<td>$10.25</td>
<td>$10.25</td>
<td>$40.00</td>
<td>$203.9K</td>
<td>1.6K</td>
<td>3</td>
</tr>
<tr>
<td>MRNA</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>06/20/25</td>
<td>$4.65</td>
<td>$4.6</td>
<td>$4.65</td>
<td>$45.00</td>
<td>$139.5K</td>
<td>2.1K</td>
<td>82</td>
</tr>
<tr>
<td>MRNA</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>06/20/25</td>
<td>$102.95</td>
<td>$102.25</td>
<td>$102.69</td>
<td>$140.00</td>
<td>$92.4K</td>
<td>59</td>
<td>1</td>
</tr>
</tbody>
</table>

<h3>About Moderna</h3>
Moderna is a commercial-stage biotech that was founded in 2010 and had its initial public offering in December 2018. The firm's mRNA technology was rapidly validated with its covid vaccine, which was authorized in the United States in December 2020. Moderna had 40 mRNA development candidates in clinical development as of September 2024. Programs span a wide range of therapeutic areas, including infectious disease, oncology, cardiovascular disease, and rare genetic diseases.
<h3>Present Market Standing of Moderna</h3>
<ul>
<li>With a volume of 4,167,881, the price of MRNA is down -5.18% at $37.38. </li>
<li>RSI indicators hint that the underlying stock may be approaching oversold.</li>
<li>Next earnings are expected to be released in 11 days.</li>
</ul>
<h3>Professional Analyst Ratings for Moderna</h3>
5 market experts have recently issued ratings for this stock, with a consensus target price of $66.8.
Turn $1000 into $1270 in just 20 days?
20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. <a href="https://www.benzinga.com/premium/ideas/options-moneyline-2/?t=Moop1arja3be22op14&amp;utm_source=benzinga-insights">Click here for access</a>. 
&#x2A; An analyst from Goldman Sachs has revised its rating downward to Neutral, adjusting the price target to $51. 
&#x2A; An analyst from UBS persists with their Buy rating on Moderna, maintaining a target price of $96. 
&#x2A; An analyst from Evercore ISI Group persists with their In-Line rating on Moderna, maintaining a target price of $50. 
&#x2A; Consistent in their evaluation, an analyst from Goldman Sachs keeps a Buy rating on Moderna with a target price of $99. 
&#x2A; Maintaining their stance, an analyst from Morgan Stanley continues to hold a Equal-Weight rating for Moderna, targeting a price of $38. 
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Moderna, <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> gives you real-time options trades alerts.

MRNA

Moderna Options Trading: A Deep Dive into Market Sentiment

Investors with a lot of money to spend have taken a bearish stance on Intel (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>).
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with INTC, it often means somebody knows something is about to happen.
So how do we know what these investors just did? 
Today, <a href="https://pro.benzinga.com/?utm_source=insights">Benzinga</a>'s options scanner spotted 33 uncommon options trades for Intel.
This isn't normal.
The overall sentiment of these big-money traders is split between 42% bullish and 51%, bearish.
Out of all of the special options we uncovered, 6 are puts, for a total amount of $184,784, and 27 are calls, for a total amount of $1,271,083.
<h3>Projected Price Targets</h3>
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $10.0 to $60.0 for Intel over the recent three months. 
<h3>Analyzing Volume &amp; Open Interest</h3>
In today's trading context, the average open interest for options of Intel stands at 7198.35, with a total volume reaching 45,279.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Intel, situated within the strike price corridor from $10.0 to $60.0, throughout the last 30 days.
<h3>Intel Option Volume And Open Interest Over Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1738601122_0.png" alt="Options Call Chart" />
<h3>Biggest Options Spotted:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>INTC</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>04/17/25</td>
<td>$2.81</td>
<td>$2.77</td>
<td>$2.76</td>
<td>$18.00</td>
<td>$124.2K</td>
<td>1.6K</td>
<td>1.8K</td>
</tr>
<tr>
<td>INTC</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/16/26</td>
<td>$3.55</td>
<td>$3.5</td>
<td>$3.55</td>
<td>$20.00</td>
<td>$88.7K</td>
<td>28.8K</td>
<td>474</td>
</tr>
<tr>
<td>INTC</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>12/18/26</td>
<td>$0.55</td>
<td>$0.51</td>
<td>$0.51</td>
<td>$60.00</td>
<td>$76.8K</td>
<td>6.7K</td>
<td>1.8K</td>
</tr>
<tr>
<td>INTC</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>04/17/25</td>
<td>$2.87</td>
<td>$2.68</td>
<td>$2.88</td>
<td>$18.00</td>
<td>$72.0K</td>
<td>1.6K</td>
<td>695</td>
</tr>
<tr>
<td>INTC</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>08/15/25</td>
<td>$3.5</td>
<td>$3.4</td>
<td>$3.5</td>
<td>$18.00</td>
<td>$70.0K</td>
<td>984</td>
<td>205</td>
</tr>
</tbody>
</table>

<h3>About Intel</h3>
Intel is a leading digital chipmaker, focused on the design and manufacturing of microprocessors for the global personal computer and data center markets. Intel pioneered the x86 architecture for microprocessors and was the prime proponent of Moore's law for advances in semiconductor manufacturing. Intel remains the market share leader in central processing units in both the PC and server end markets. Intel has also been expanding into new adjacencies, such as communications infrastructure, automotive, and the Internet of Things. Further, Intel expects to leverage its chip manufacturing capabilities into an outsourced foundry model where it constructs chips for others.
Having examined the options trading patterns of Intel, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
<h3>Intel's Current Market Status</h3>
<ul>
<li>With a trading volume of 37,299,694, the price of INTC is up by 0.75%, reaching $19.57.</li>
<li>Current RSI values indicate that the stock is is currently neutral between overbought and oversold.</li>
<li>Next earnings report is scheduled for 80 days from now.</li>
</ul>
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=Be8be9arja3be22bz20&amp;utm_source=benzinga-insights">Click here for access</a>.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Intel, <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> gives you real-time options trades alerts.

INTC

Check Out What Whales Are Doing With INTC

When you think of Warren Buffett's investments, you probably picture American icons like Coca-Cola Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KO#NYSE">KO</a>), Apple (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), Dairy Queen, or even See's Candies—classic brands that embody his preference for simplicity and predictability. But in 2020, Buffett and Berkshire Hathaway made an uncharacteristic move. They turned their focus overseas, quietly pouring billions into Japan.&nbsp;
<a href="https://www.benzinga.com/personal-finance/24/12/42416245/charlie-munger-found-it-weird-how-life-was-pretty-brutal-and-short-but-now-things-are-600-better-and-yet-people-are-less-happy">Charlie Munger</a>, Buffett's longtime business partner and vice chairman of Berkshire Hathaway (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>, BRK.B)), shared his thoughts on this unexpected investment. In October 2023, over dinner at his Los Angeles home, Munger sat down with the hosts of the Acquired podcast and reflected on a lifetime of wisdom, including this bold bet on Japan. He spoke with admiration for Buffett's ability to see opportunities where others didn't, calling the investment in Japan's five largest trading companies a "no-brainer."
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Berkshire's foray into Japan began in 2020, when the company purchased stakes in Itochu, Marubeni, Mitsubishi, Mitsui &amp; Co., and Sumitomo. Known as sogo shosha, these firms operate as general trading houses, deeply entrenched in Japan's economy with businesses spanning energy, mining, agriculture, and consumer goods. Buffett invested around $6 billion initially, taking advantage of Japan's historically low interest rates to fund the deal with yen-denominated bonds. These bonds carried yields of about 0.5%—practically free money—while the trading houses themselves offered steady dividend yields of approximately 5%.&nbsp;
Their diversified operations made them resemble mini versions of Berkshire itself, with reliable cash flow generated from their sprawling portfolios of assets.&nbsp;
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Munger <a href="https://www.benzinga.com/personal-finance/25/01/43166526/billionaire-warren-buffetts-first-wife-said-he-cared-about-the-win-not-the-money-its-all-mental-with-him-and-money-is-his-scorecard">emphasized that Buffett's patience</a>, combined with Berkshire's strong credit rating, was instrumental in making the investment successful. By financing the deal at historically low borrowing costs, Berkshire was able to gradually build its position while ensuring consistent returns.&nbsp;
Over the next few years, Berkshire gradually increased its stakes in the five trading houses. By late 2023, the positions had risen in value significantly, with Berkshire's investment growing to ¥2.9 trillion (about $20 billion), according to The Japan Times.
Munger's reflections on the investment weren't just about the numbers. For him, this was a textbook example of the <a href="https://www.benzinga.com/personal-finance/24/04/38275323/warren-buffett-warns-dont-watch-the-market-closely-urges-not-to-obsessively-check-stock-prices-i">principles he and Buffett had followed</a> throughout their careers. "If you're as smart as Warren Buffett, maybe two or three times a century, you have an idea like that," he said. Munger emphasized that the opportunity was so clear that it almost seemed too good to be true: "It was like having God just opening a chest and pouring money into it. Awfully easy money."
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The move also highlighted Buffett's rare ability to think globally while staying grounded in simple, fundamental principles. Historically, Berkshire's portfolio has leaned heavily toward American companies, reflecting its deep confidence in the U.S. economy. But this foray into Japan was proof that Buffett wasn't bound by geography—<a href="https://www.benzinga.com/news/25/01/42976301/charlie-munger-said-his-family-only-owns-3-stocks-damn-right-theyre-rich-because-diversification-is-for-know-nothing-investors">only by the opportunity itself</a>.&nbsp;
For Munger, who passed away just weeks after the interview at the age of 99, this investment was a final testament to the timeless principles he and Buffett spent their lives practicing: patience, discipline, and an uncanny ability to see opportunities others overlooked. Reflecting on Berkshire's success with the Japanese trading houses, Munger captured the simplicity of the strategy: "A huge flow of cash with no investment, no thought, no anything. How often do you do that?"
And with Buffett's trademark patience and precision, they did just that—turning a $6 billion initial investment into holdings worth nearly $20 billion in only a few short years.
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Charlie Munger Praised Buffett's $20B 'No-Brainer' Investment In Japan: 'Like Having God Just Opening A Chest And Pouring Money Into It'

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Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

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