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WANG & LEE Group

WANG & LEE Group Inc operates as an investment holding company. The firm conducts its primary operations through its indirectly wholly owned subsidiary WANG and LEE CONTRACTING LIMITED (WLHK). WLHK provides contract engineering, installation, and out-fitting of the following products and services: low voltage (220v/phase 1 or 380v/phase 3) electrical systems, mechanical ventilation and air-conditioning systems (MVAC), fire safety systems, and water supply and sewage disposal systems.

WANG & LEE Group Inc

Compass Point analyst Giuliano Bologna upgrades Ally Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALLY#NYSE">ALLY</a>) from Neutral to Buy and raises the price target from $37 to $41.

News

Upgrades

Price Target

Analyst Ratings

ALLY

Compass Point Upgrades Ally Financial to Buy, Raises Price Target to $41

Canaccord Genuity analyst David Hynes maintains DigitalOcean Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DOCN#NYSE">DOCN</a>) with a Buy and lowers the price target from $50 to $45.

DOCN

Canaccord Genuity Maintains Buy on DigitalOcean Holdings, Lowers Price Target to $45

The shares of Strategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) plunged 9.24% during the Monday pre-market trading session as Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) tumbled 7% amid President Donald Trump&#8216;s tariff woes.
What Happened: Strategy, one of the largest corporate holders of the cryptocurrency, felt the brunt after Bitcoin hit a low of $77,097.74<a href="https://www.benzinga.com/trading-ideas/movers/25/04/44659799/bitcoin-plunges-below-80000-ethereum-dogecoin-crash-as-cryptocurrencies-mirror-stocks-amid-trump-tariff-mayhem-analyst-flags-critical-support-level-for-btc"> before slightly</a> recovering to $78,000 on Sunday. Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) experienced a more severe fall, dipping below $1,600 for the first time since October 2023.
The trading volume for Bitcoin and Ethereum surged by 179% and 272%, respectively, indicating a high selling pressure. This drop followed a period of relative stability in cryptocurrency prices amidst intense stock market volatility on Friday.
Although Bitcoin initially demonstrated resilience, it is now mirroring the growing unease in the broader market. According to data from&nbsp;CoinGlass, in the past 24 hours, the crypto market experienced $570 million in liquidations, with long positions making up $493 million of the total. Bitcoin alone was responsible for more than $121 million of these liquidations.
As Bitcoin fell below the $80,000 threshold, prominent economist and Bitcoin skeptic Peter Schiff questioned Strategy co-founder Michael Saylor on whether he could stop the cryptocurrency from dropping further below his average purchase price of $68,000 by borrowing more funds to make large-scale purchases. 
At present, Strategy owns 528,185 BTC on its balance sheet
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="600" height="188" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/07072024/image-60.png" alt="" class="wp-image-859692" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/07072024/image-60.png 600w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/07072024/image-60-300x94.png 300w" sizes="(max-width: 600px) 100vw, 600px" /></figure>
SEE ALSO:&nbsp;<a href="https://benzinga.com/markets/25/04/44658863/peter-lynchs-advice-if-you-cant-explain-to-an-11-year-old-in-two-minutes-or-less-why-you-own-the-stock-yo" target="_blank" rel="noreferrer noopener">Peter Lynch&#8217;s Advice: &#8216;If You Can&#8217;t Explain to an 11-Year-Old in Two Minutes or Less Why You Own the Stock, You Shouldn&#8217;t Own It&#8217;</a>
Why It Matters:  Earlier this month, investment banking firm Monness, Crespi, Hardt &amp; Co. predicted that Strategy&#8217;s aggressive bitcoin purchases may soon face a roadblock as funding options become limited. The firm also downgraded MSTR stock to &#8216;Sell&#8217; after initiating coverage at &#8216;Neutral&#8217; two weeks ago.
This recent crash in the cryptocurrency market comes in the wake of warnings from renowned cryptocurrency analyst Michaël van de Poppe. The analyst predicted that Bitcoin <a href="https://www.benzinga.com/markets/cryptocurrency/25/04/44661331/bitcoin-could-test-70k-amid-fears-of-black-monday-panic-says-analyst-van-de-poppe-as-global-markets-slide-on-trump-tariff-shock">could test</a> the $70,000 level amid panic selling, which he referred to as "Black Monday". This prediction seems to be coming true as the cryptocurrency market experiences its worst selloff since March 2020.
Meanwhile, analyst Ali Martinez has anticipated a significant price movement for Bitcoin, while economic analyst Jesse Colombo identified $77,500 as&nbsp;a &#8220;critical support level&#8221; for&nbsp;the cryptocurrency, warning of a sharp plunge if this level fails.
<ul>
<li>READ MORE:&nbsp;<a href="https://benzinga.com/25/04/44644765/tom-lee-predicts-a-market-rebound-after-april-9-as-absurd-tariffs-could-spur-potential-negotiations" target="_blank" rel="noreferrer noopener">Tom Lee Predicts a Market Rebound After April 9 As &#8216;Absurd&#8217; Tariffs Could Spur Potential Negotiations &#8211; Grayscale Bitcoin Mini Trust (BTC) Common units of fractional undivided beneficial interest (ARC</a></li>
</ul>
Image via Shutterstock
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Equities

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Tech

$BTC

$ETH

MSTR

MSTR Stock Falls Over 9% In Monday Pre-Market: What's Going On?

HC Wainwright &amp; Co. analyst Mitchell Kapoor reiterates Sarepta Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SRPT#NASDAQ">SRPT</a>) with a Neutral and maintains $75 price target.

Reiteration

SRPT

HC Wainwright & Co. Reiterates Neutral on Sarepta Therapeutics, Maintains $75 Price Target

Bally's Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BALY#NYSE">BALY</a>) ("Bally's" or the "Company") today announced that it has entered into a binding term sheet with The Star Entertainment Group Limited (ASX: SGR) ("The Star") comprising a multi-tranche issuance of subordinated convertible notes and subordinated debt (together the "Notes") with an aggregate principal value of AUD $300 million (approximately USD $187 million1) (the "Transaction").
<a href="https://mma.prnewswire.com/media/2658995/SGR___Term_Sheet_with_Bally_s_Corporation__fully_executed_without_signature_pages.pdf?p=original"><img src="https://mma.prnewswire.com/media/2658995/SGR___Term_Sheet_with_Bally_s_Corporation__fully_executed_without_signature_pages.pdf?p=pdfthumbnail" alt="Bally's Corporation enters into a binding agreement with The Star for AUD 300 Million Strategic Capital Investment via Convertible Notes and Subordinated Debt" /></a>
The Star is an ASX-listed, leading Australian entertainment and gaming company, operating casino and resort properties in Sydney, Brisbane and the Gold Coast. The Star employs approximately 8,000 team members while also supporting downstream employment and other opportunities in the communities in which it operates.
Bally's will invest in and partner with The Star and bring a proven track record of revitalising underperforming casino businesses.&nbsp; Bally's will continue to work collaboratively with regulators and stakeholders to support a successful turnaround of The Star. Strategically, the Transaction is intended to preserve The Star's long-term potential, with Bally's committed to leveraging its operational expertise to deliver a more resilient and sustainable business for all stakeholders.
Soo Kim, Chairman of Bally's, said "This transaction provides Bally's the opportunity to infuse The Star with what it needs to regain its position as Australia's preeminent gaming destination.&nbsp; And it allows The Star shareholders to share in what we confidently believe will be a brighter future together."
George Papanier, President of Bally's adds, "We are excited to bring our reputation and operating expertise to a wonderful set of properties that operate in fantastic markets.&nbsp; We are up for the challenge."
Upon conversion of the Notes, Bally's would own up to ~56.7% of the fully diluted share capital of The Star assuming it subscribes for 100% of the Notes, noting that The Star's major shareholder, Investment Holdings Pty Ltd (which is controlled by the Mathieson family), may separately subscribe for a portion of the Notes, which would reduce Bally's' commitment by an equal amount.
The issue and conversion of certain tranches of Notes is subject to shareholder and regulatory approvals. The Star expects to hold a shareholder meeting in the coming months. In the interim a Bally's representative will join The Star board as an observer. Upon conversion of the Notes, additional and/or replacement directors will be appointed to ensure majority Board representation, subject to regulatory approvals.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Transaction Details
Under the binding term sheet executed on 6 April 2025, Bally's will invest AUD 300,000,000 (approximately USD $187 million1) through a combination of subordinated convertible notes and subordinated debt, in two tranches (refer below).
The Notes are convertible into shares such that Bally's will own approximately 56.7% of The Star's fully diluted share capital post-conversion,
<ul>
<li>Tranche 1 Notes:
<ul>
<li>Tranche 1A: Convertible into shares representing 9.71% of The Star's pre-issue capital</li>
</ul>
</li>
<li>AUD $22.3m (approximately USD $13.9m1)
<ul>
<li>Tranche 1B: Convertible into shares representing 4.85% of The Star's pre-issue capital</li>
</ul>
</li>
<li>AUD $11.1m (approximately USD $6.9m1)
<ul>
<li>Tranche 1C Subordinated Debt: Subordinated non-convertible debt</li>
</ul>
</li>
<li>Subordinated Debt of&nbsp;AUD $66.6m (approximately USD $41.5m1).&nbsp; This amount may be increased in certain circumstances, including if regulatory approvals related to the issuance and conversion of the Tranche 2&nbsp; Notes are not obtained within specified periods.</li>
<li>Tranche 2 Notes: Convertible into shares representing 50.3% of The Star's pre-issue capital
<ul>
<li>AUD $266.6m (approximately USD $166.2m1) with the principal amount of the Trance 1C Subordinated Debt being applied to reduce the amount payable by Bally's on the issue of the Tranche 2 Notes.</li>
</ul>
</li>
<li>The conversion price is fixed at&nbsp;AUD 0.08 per share, with customary anti-dilution protections.</li>
<li>The Notes mature on 2 July 2029, with automatic redemption of principal, accrued interest, and any outstanding payment-in-kind ("PIK") liability if not converted.</li>
<li>Interest rate of 9.0% per annum, payable quarterly.</li>
</ul>
Funding Details and Approvals
Bally's has available funds to support the Transaction. The issuance and conversion of certain tranches of Notes is subject to receipt of shareholder approval, regulatory approvals, execution of long-form transaction documents and certain consents.
The binding term sheet is attached to this release.

BALY

Bally's to Invest $187M in Australia's The Star, Eyes 57% Stake Through Convertible Notes Deal

Under the terms of the agreement, ABL Bio will receive up to £77.1 million in upfront and near-term payments, including an immediate upfront payment of £38.5 million, research milestones and potential program expansion. In total, ABL Bio is eligible to receive up to £2.075 billion in research, development, regulatory and commercialization milestone payments&nbsp;across multiple potential programs. ABL Bio will receive tiered royalties on net sales if products are successfully commercialized. As part of the agreement, ABL Bio will transfer Grabody-B-related technology and know-how to GSK, while GSK will assume responsibility for preclinical and clinical development, manufacturing, and commercialization.

Biotech

Large Cap

Health Care

Contracts

General

ABL Bio Announced A Worldwide Licensing Agreement With GSK To Develop Medicines For Neurodegenerative Diseases By Utilizing ABL Bio's Blood-brain Barrier Shuttle Platform, Grabody-B, ABL Bio Will Receive Up To £2.075B Including £77.1M In Upfront And Near-term Payments

WIIM

BABA

BEKE

BILI

DADA

New Oriental Education & Technology Group

GSX Techedu Inc. American Depositary Shares

GOTU

HTHT

Citigourp Global Markets 2% Protected Notes Linked To The Djia

UXIN

XPEV

YUMC

Shares of US-listed Chinese companies are trading lower after President Trump last week imposed 34% tariffs on China. In Retaliation, China imposed a 34% tariff on US goods.

QQQ: -5% &#x7C; <a href="https://www.benzinga.com//node/44663638">Major indexes are lower on continued weakness following President Trump's recent tariff announcements, which have caused global trade war concerns.</a>
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Market-Moving News for April 7th

STLA

TSLA

Shares of auto-related stocks are trading lower as global markets continue to decline following President Trump's announcement of sweeping tariffs, which could raise auto prices and affect consumer demand. Additionally, auto part tariffs could raise prices for producers.

Chardan Capital analyst Keay Nakae maintains Sonnet BioTherapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SONN#NASDAQ">SONN</a>) with a Buy and maintains $20 price target.

SONN

Chardan Capital Maintains Buy on Sonnet BioTherapeutics, Maintains $20 Price Target

Benchmark analyst Cody Acree reiterates Tower Semiconductor (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSEM#NASDAQ">TSEM</a>) with a Buy and maintains $60 price target.

TSEM

Benchmark Reiterates Buy on Tower Semiconductor, Maintains $60 Price Target

MasterCraft Boat Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MCFT#NASDAQ">MCFT</a>) (the "Company"), today announced that Tim Oxley, Chief Financial Officer, has decided to retire from the Company, effective December 31, 2025. Scott Kent, Vice President of Finance, will succeed Mr. Oxley as Chief Financial Officer, effective July 1, 2025. Mr. Oxley will transition to serve as a special advisor to the executive team/Board from July 1, 2025 until December 31, 2025, to ensure a smooth transition of responsibilities.
Mr. Kent has 33 years of professional experience, including 28 years of direct marine industry experience and is the ideal successor for the CFO role. He has served as Vice President of Finance for MasterCraft since 2018, leading the finance function, including accounting, FP&amp;A, financial reporting, and treasury. Throughout his tenure, he has also helped lead operational and strategic advancements across the business. Prior to joining MasterCraft, Mr. Kent served as Chief Financial Officer at Brunswick Boat Group and Recreational Boat Group, as well as various positions of increasing responsibility at Brunswick, Sea Ray Boats, and Price Waterhouse. Mr. Kent has a bachelor's of science in Accounting from the Milligan College and has held license as a CPA.

Management

MCFT

MasterCraft Names Scott Kent as New CFO, Succeeding Retiring Finance Chief Tim Oxley

AMBC

Ambac Financial Group Provides Update On Sale Of Ambac Assurance Corporation; Says Term Of Purchase Agreement Extended From Apr. 4 To Jul. 3

TEVA

Teva Announces FDA Filing Acceptance For AJOVY In Pediatric Episodic Migraine Prevention

Zelle's standalone mobile app officially shut down on April 1, leaving some users wondering how they can keep sending money digitally. 
What Happened: Launched in 2017, Zelle quickly gained popularity by partnering with major financial institutions nationwide. Today, more than 2,200 U.S. banks and credit unions support Zelle, driving usage of the separate app below 2%— making its closure unsurprising.
As noted by CNET in a <a href="https://www.cnet.com/personal-finance/banking/the-zelle-app-has-shut-down-heres-how-you-can-still-send-money-digitally/">report</a>, Zelle itself isn't going anywhere. You can still transfer funds through your bank's app or website if it participates in the Zelle network, which includes Bank of America, Chase, Wells Fargo, TD Bank, PNC Bank and Citi. If you'd rather switch, Apple Wallet, Cash App, PayPal and Venmo remain prominent alternatives for electronic transactions.
See also: <a href="https://www.benzinga.com/25/04/44662249/end-of-cheap-clothing-era-tariffs-to-hit-apparel-industry-hard">Tariffs Threaten To End Era Of Cheap Clothing — Apparel Industry Faces Major Price Shock Under Trump Policy</a>
Why It Matters: The shutdown follows <a href="https://www.benzinga.com/news/legal/24/12/42687945/zelle-became-a-gold-mine-for-fraudsters-consumer-financial-protection-bureau-lawsuit">scrutiny Zelle faced</a> last year, when the Consumer Financial Protection Bureau sued it and three major U.S. banks over allegations of rampant fraud on the peer-to-peer payment network. That <a href="https://in.benzinga.com/news/legal/25/03/44122330/cfpb-drops-zelle-fraud-reimbursement-case-against-jpmorgan-wells-fargo">lawsuit was dropped</a>, but concerns about digital security linger. Zelle, for its part, says it's prioritizing its bank partnerships because "the vast majority of people" already access the service through their financial institution.
Regardless of the platform you use, experts warn against sending money to unfamiliar recipients. Chase recently blocked certain Zelle transactions it considered suspicious, bringing to light broader worries about scams. 
Remain vigilant for urgent messages or offers that appear too good to be true — common signs of fraud. Stay informed, trust your instincts, and choose a service that combines convenience with solid safety measures. Even without the standalone Zelle app, you can still move money swiftly while taking steps to protect yourself.
Image via Shutterstock
Read next: <a href="https://www.benzinga.com/25/04/44662021/is-tesla-cybertruck-the-biggest-automotive-blunder-in-decades-after-fords-edsel-its-a-huge-swing-and-a-huge-miss">Is Tesla Cybertruck The Biggest Automotive Blunder In Decades After Ford&#8217;s Edsel? &#8216;It&#8217;s A Huge Swing And A Huge Miss,&#8217; Says Expert</a>

Fintech news covering the emerging Financial Technology services sector

Fintech

Zelle Ends Standalone App But Banks Still Let You Pay Through The Network: Here's How

Telsey Advisory Group analyst Cristina Fernandez maintains RH (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RH#NYSE">RH</a>) with a Outperform and maintains $280 price target.

Telsey Advisory Group Maintains Outperform on RH, Maintains $280 Price Target

Telsey Advisory Group analyst Joseph Feldman maintains Traeger (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COOK#NYSE">COOK</a>) with a Market Perform and maintains $2.5 price target.

COOK

Telsey Advisory Group Maintains Market Perform on Traeger, Maintains $2.5 Price Target

HC Wainwright &amp; Co. analyst Mitchell Kapoor initiates coverage on Ionis Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IONS#NASDAQ">IONS</a>) with a Buy rating and announces Price Target of $45.

Initiation

IONS

HC Wainwright & Co. Initiates Coverage On Ionis Pharmaceuticals with Buy Rating, Announces Price Target of $45

D. Boral Capital analyst Jason Kolbert maintains Anavex Life Sciences (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVXL#NASDAQ">AVXL</a>) with a Buy and maintains $46 price target.

AVXL

D. Boral Capital Maintains Buy on Anavex Life Sciences, Maintains $46 Price Target

Needham analyst Mike Cikos reiterates DigitalOcean Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DOCN#NYSE">DOCN</a>) from Hold to Hold.

Needham Reiterates Hold on DigitalOcean Holdingsto Hold

Press Releases

WANG & LEE'S INNOVATIVE CRYPTO DIVIDEND STRATEGY: PROTECTING SHAREHOLDERS

Wang & Lee Group, Inc. Announces Acquisition of Solar (HK) Limited, Paving the Way for Global Renewable Crypto Mining

WANG & LEE GROUP, INC. AND LINKO SMART TECHNOLOGY FORGE EXCLUSIVE COLLABORATION TO PIONEER AI-DRIVEN, SUSTAINABLE SMART HOME ECOSYSTEMS

WANG & LEE GROUP, INC., LINKO, AND HK GOLDEN, INC. LAUNCH STRATEGIC ALLIANCE TO REVOLUTIONIZE MEDIA MONETIZATION IN SUSTAINABLE SMART HOMES

Wang & Lee Group Announces Pricing of $12.0 Million Registered Direct Offering

Wang and Lee Group CEO and NQ Marble Director to Conduct Onsite Quarry Inspection in Australia, Eyeing Dual Revenue Streams and ESG Leadership

WANG & LEE GROUP ANNOUNCES SUCCESSFUL COMPLETION OF HONG KONG'S FIRST LOCALLY DEVELOPED SMART FLOORING PROJECT, TRANSFORMING STEPS INTO CLEAN ENERGY

WANG AND LEE GROUP, INC. ANNOUNCES STRATEGIC INVESTMENT IN TROOPS, INC. TO DRIVE INNOVATION IN SMART BUILDING SOLUTIONS AND EXPAND ESG TOKEN REWARD ECOSYSTEM

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