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Javier Milei, a pro-Bitcoin leader, has assumed the presidency of Argentina amid a severe economic crisis. In his inaugural address, he outlined the dire economic situation and the need for immediate action, including significant austerity measures. Milei has been critical of Argentina's central bank and has previously suggested radical changes such as abolishing the Central Bank and adopting the U.S. dollar. His election has positively impacted the cryptocurrency market and Argentine ADRs trading in the U.S. He appointed former Central Bank president Luis Caputo as his economy minister.

Portfolio Pulse from Benzinga Neuro

December 11, 2023 | 7:06 am

RIVN

TSLA

EPA data reveals that Tesla, Inc.'s (NASDAQ:TSLA) Cybertruck has lower efficiency at higher speeds compared to Rivian Automotive, Inc.'s (NASDAQ:RIVN) R1T. The Cybertruck variants have a 122.4 kWh battery pack, while Rivian's Max Pack and Large Pack are 149 kWh and 135 kWh, respectively. Concerns over the Cybertruck's price and production ramp-up have been raised by analysts, with its high-end trims priced at $99,000 and $80,000, compared to Rivian's starting price of $73,000. Despite a positive outlook from Deepwater Asset Management's Gene Munster, he predicts only a marginal contribution to Tesla's growth until 2026. Tesla's stock closed up 0.49% at $243.84.

Portfolio Pulse from Shanthi Rexaline

December 11, 2023 | 6:58 am

MLSS

Milestone Scientific has announced a public offering of 4,765,000 common shares priced at $0.63 per share, aiming to raise $3 million in capital.

Portfolio Pulse from Benzinga Newsdesk

December 11, 2023 | 6:27 am

TSLA

Tesla Inc. (NASDAQ:TSLA) has begun prompting customers who ordered the 'Foundation Series' Cybertruck to prepare for delivery, indicating that public deliveries may start sooner than expected. The fully-equipped Cybertruck, priced at $120,000, includes features like all-terrain tires and full self-driving capability. Initial deliveries have been made to VIPs, and broader public deliveries are expected to begin with possible dates in December for Texas and California. The Cybertruck has also qualified for a $7,500 federal tax credit for 2023.

Portfolio Pulse from Benzinga Neuro

December 11, 2023 | 5:24 am

BTCUSD

ETHUSD

The cryptocurrency market experienced a significant liquidation event with over $340 million in long positions being liquidated in the last 24 hours. Bitcoin and Ethereum led the liquidations with $94 million and $80 million respectively. The largest single liquidation was a Bitcoin-to-USDT swap on OKX worth $8.23 million. OKX and Binance saw the highest liquidations, with OKX at $164.62 million and Binance at $118.33 million. On-chain analyst Willy Woo suggested a potential correction for Bitcoin to $39,700, while commentator Peter Schiff compared Bitcoin's decline to the Philadelphia Eagles' poor performance.

Portfolio Pulse from Mehab Qureshi

December 11, 2023 | 3:50 am

BTCUSD

DOGEUSD

ETHUSD

Cryptocurrencies showed mixed performance with Bitcoin (BTC) undergoing a correction, Ethereum (ETH) surging 5%, and Dogecoin (DOGE) declining. Total crypto market liquidations reached $374.41 million. U.S. stock futures rose slightly ahead of the Federal Reserve meeting. Analysts predict altcoin market cap could reach $1.1-1.3T and suggest Bitcoin may mirror Amazon's 2010 recovery pattern, indicating a potential parabolic surge.

Portfolio Pulse from Mehab Qureshi

December 11, 2023 | 3:07 am

MZDAY

Mazda CEO Masahiro Moro anticipates electric vehicles (EVs) will constitute 25-40% of Mazda's global sales by 2030. Moro credits the company's growth to his prior role in North America, promoting larger vehicles. Mazda is preparing to launch its first dedicated EV platform, with close collaboration with Toyota on software and electrical infrastructures. The new EV platform is expected between 2025 and 2027, with plans to design and manufacture EVs in Japan and potentially North America. Despite challenges faced by other automakers like Tesla, General Motors, and Ford, Mazda's strategy could make it a significant player in the EV market.

Portfolio Pulse from Benzinga Neuro

December 11, 2023 | 2:45 am

TSLA

Tesla Inc's (NASDAQ:TSLA) Cybertruck has been approved for a $7,500 federal tax credit for two of its models, the all-wheel-drive variant and the high-end tri-motor Cyberbeast. The rear-wheel-drive model, set for release in 2025, is not yet eligible. The tax credit applies to pickup trucks under $80,000, but the Cyberbeast's base price is $99,990. Deliveries for the AWD model, priced at $79,990, will start in 2024, making it unlikely to benefit from the tax credit this year. The IRS has not listed the similarly priced Tesla Model X Plaid. Changes in the EV tax credit system in January may affect the Cybertruck's future eligibility.

Portfolio Pulse from Benzinga Neuro

December 11, 2023 | 1:57 am

M

An investor consortium, including Arkhouse Management and Brigade Capital Management, has proposed a $5.8 billion acquisition of Macy's Inc. (NYSE:M) at $21 per share, a 32% premium over the previous day's closing price. Macy's, facing competition from digital retailers, has seen its share price decline from $70 in 2015 to $17.39 recently. The group believes Macy's is undervalued and is ready to increase the offer after due diligence. Macy's, led by CEO Jeff Gennette, is undergoing a turnaround strategy and reported $1.2 billion in profits on $24.4 billion in revenue last fiscal year.

Portfolio Pulse from Benzinga Neuro

December 10, 2023 | 10:22 pm

INHD

RLND

The RoyaLand Company Ltd. (RLND) and INNO HOLDINGS INC (INHD) are set to go public this week with their IPOs on NASDAQ. RLND's IPO is scheduled for Dec. 13, 2023, with a price range of $5.00 to $6.00 and an offering of 1,250,000 shares at $5.50 each. INHD's IPO will occur on Dec. 12, 2023, with a price range of $4.00 to $5.00 and an offering of 2,500,000 shares at $4.00 each. Both companies have a 180-day insider lock-up period.

Portfolio Pulse from Benzinga Insights

December 10, 2023 | 8:50 pm