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MicroStrategy Incorporated MSTR has experienced an extraordinary 674% increase in its stock price year-to-date in 2024, a rally driven by its massive Bitcoin holdings and the cryptocurrency’s record-breaking performance this year . The company's Bitcoin strategy, spearheaded by Chairman Michael Saylor , has not only boosted its stock but has also resulted in over $15 billion in unrealized profit from its Bitcoin holdings. This surge has rippled across ETFs with significant MicroStrategy exposure, enhancing their returns in a bullish market. MicroStrategy, one of the largest corporate holders of Bitcoin, currently owns 331,000 BTC, with a cumulative acquisition cost of over $16 billion. With the recent surge in Bitcoin prices, these holdings have soared in value, providing a staggering profit that underscores the company's high-stakes bet on cryptocurrency. This performance has drawn increased attention to ETFs with notable stakes in MicroStrategy, as investors look to indirectly benefit from the company's gains. The following ETFs have particularly benefited from MicroStrategy’s exceptional performance, reflecting both their weightings in MSTR and their year-to-date returns: T-Rex 2X Long MSTR Daily Target ETF MSTU : MSTR Weighting : 90.14% YTD Performance : 746% Overview : MSTU is a leveraged ETF designed to deliver twice the daily performance of MicroStrategy's stock, giving investors amplified exposure to its monumental rally. Bitwise Crypto Industry Innovators ETF BITQ : MSTR Weighting : 14.16% YTD Performance : 79% Overview : BITQ focuses on leading companies in the crypto sector, with MicroStrategy as a key holding, benefiting from the company's Bitcoin-driven surge. Schwab Crypto Thematic ETF STCE : MSTR Weighting : 11.83% YTD Performance : 64.5% Overview : STCE targets firms innovating in blockchain and cryptocurrency, and MicroStrategy’s gains have significantly boosted the ETF's overall performance. VanEck Digital Transformation ETF DAPP : MSTR Weighting : 11.03% YTD Performance : 76.7% Overview : DAPP invests in companies driving digital transformation through blockchain, with MicroStrategy playing a critical role in its success. Siren Nasdaq NexGen Economy ETF BLCN : MSTR Weighting : 8.04% YTD Performance : 17.4% Overview : BLCN focuses on blockchain economy leaders, and MicroStrategy's rise has contributed strongly to the ETF's returns. Also Read: Bitcoin Price Hitting $100,000 In November? Polymarket Traders Speculate It Might Go Even Higher MicroStrategy's Bitcoin-heavy strategy has propelled its market cap to $11.5 billion in U.S. ETFs, with approximately 22.03 million shares held across these funds. As a leader in Bitcoin adoption within corporate treasuries, MicroStrategy's performance has directly influenced the success of the ETFs holding it, offering exposure to Bitcoin via a regulated equity vehicle. The company, earlier this week, announced an increase in its convertible senior notes offering to $2.6 billion from its initial $1.75 billion, signaling its continued aggressive stance on Bitcoin accumulation. Read Next: Bitcoin Hits New All-Time High Above $98,000 As Spot ETFs Crack $100 Billion Net Asset Value Milestone Image: Shutterstock © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.WEST PALM BEACH, Fla. (AP) — President-elect Donald Trump said Wednesday that he has chosen Keith Kellogg, a highly decorated retired three-star general, to serve as his special envoy for Ukraine and Russia. Kellogg, who is one of the architects of a staunchly conservative policy book that lays out an “America First” national security agenda for the incoming administration, will come into the role as Russia’s invasion of Ukraine enters its third year in February. Trump, making the announcement on his Truth Social account, said, “He was with me right from the beginning! Together, we will secure PEACE THROUGH STRENGTH, and Make America, and the World, SAFE AGAIN!” Kellogg, an 80-year-old retired Army lieutenant general who has long been Trump’s top adviser on defense issues, served as national security adviser to Vice President Mike Pence , was chief of staff of the National Security Council and then stepped in as an acting security adviser for Trump after Michael Flynn resigned. People are also reading... As special envoy for Ukraine and Russia, Kellogg will have to navigate an increasingly untenable war between the two nations. The Biden administration has begun urging Ukraine to quickly increase the size of its military by drafting more troops and revamping its mobilization laws to allow for the conscription of those as young as 18. The White House has pushed more than $56 billion in security assistance to Ukraine since the start of Russia’s February 2022 invasion and expects to send billions more before Biden leaves office in less than two months. The U.S. has recently stepped up weapons shipments and has forgiven billions in loans provided to Kyiv. Trump has criticized the billions the Biden administration has spent in supporting Ukraine and has said he could end the war in 24 hours, comments that appear to suggest he would press Ukraine to surrender territory that Russia now occupies. As a co-chairman of the American First Policy Institute’s Center for American Security, Kellogg wrote several of the chapters in the group’s policy book. The book, like the Heritage Foundation’s “Project 2025,” is designed to lay out a Trump national security agenda and avoid the mistakes of 2016 when he entered the White House largely unprepared. Kellogg in April wrote that “bringing the Russia-Ukraine war to a close will require strong, America First leadership to deliver a peace deal and immediately end the hostilities between the two warring parties.” Trump's proposed national security adviser , U.S. Rep. Michael Waltz of Florida, tweeted Wednesday that “Keith has dedicated his life to defending our great country and is committed to bringing the war in Ukraine to a peaceful resolution.” Kellogg featured in multiple Trump investigations dating to his first term. He was among the administration officials who listened in on the July 2019 call between Trump and Volodymyr Zelenskyy in which Trump prodded his Ukrainian counterpart to pursue investigations into the Bidens. The call, which Kellogg would later say did not raise any concerns on his end, was at the center of the first of two House impeachment cases against Trump, who was acquitted by the Senate both times. On Jan. 6, 2021, hours before pro-Trump rioters stormed the U.S. Capitol, Kellogg, who was then Pence’s national security adviser, listened in on a heated call in which Trump told his vice president to object or delay the certification in Congress of President Joe Biden ’s victory. He later told House investigators that he recalled Trump saying to Pence words to the effect of: “You’re not tough enough to make the call.” Baldor reported from Washington. AP writer Eric Tucker in Washington contributed to this report. Copyright 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission. Get local news delivered to your inbox!
U.S. Soccer Legend Tim Howard Rips 'Stupid' Athletes For Trump Dance CelebrationMORGANTOWN, W.Va. (AP) — CJ Donaldson had two short rushing touchdowns and West Virginia became bowl eligible with a 31-21 victory over UCF on Saturday. Garrett Greene threw a TD pass in his final home game and Jahiem White added a short rushing score for the Mountaineers (6-5, 5-3 Big 12).
Spire Inc. SR reported a loss for the fourth quarter on Wednesday . The company reported a quarterly loss of 54 cents per share, compared to market estimates of a loss of 52 cents per share. The company reported quarterly sales of $293.800 million which missed the analyst consensus estimate of $382.540 million. “During fiscal 2024, despite the impacts of warm winter weather and rising interest expense, our team delivered solid financial and operating performance while providing affordable, reliable and safe energy to our customers,” said Steve Lindsey, president and chief executive officer of Spire. “Significant infrastructure investments and improved operational efficiency drove growth in our gas utilities during the year. In addition, Gas Marketing and Midstream continued to deliver solid results. We remain focused on continued execution of our strategy committed to capital-driven growth and operational excellence.” Spire reaffirmed long-term adjusted EPS growth target of 5% to 7% and launched fiscal 2025 adjusted EPS guidance of $4.40 to $4.60. Spire shares gained 2.9% to trade at $70.35 on Thursday. These analysts made changes to their price targets on Spire following earnings announcement. Wells Fargo analyst Sarah Akers maintained Spire with an Equal-Weight and raised the price target from $73 to $75. UBS analyst William Appicelli maintained the stock with a Buy and raised the price target from $75 to $80. Considering buying SR stock? Here’s what analysts think: Read This Next: This Palo Alto Networks Analyst Turns Bullish; Here Are Top 5 Upgrades For Thursday © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
MORGANTOWN, W.Va. (AP) — CJ Donaldson had two short rushing touchdowns and West Virginia became bowl eligible with a 31-21 victory over UCF on Saturday. Garrett Greene threw a TD pass in his final home game and Jahiem White added a short rushing score for the Mountaineers (6-5, 5-3 Big 12). West Virginia avoided losing for the fifth time at home, which hasn’t happened since 1990. Whether the win was enough for embattled coach Neal Brown to keep his job remains to be seen. UCF (4-7, 2-6) is assured of its second straight losing season under coach Gus Malzahn. Donaldson, averaging 53 rushing yards per game, finished with 96 yards. He came out determined with 56 yards on his first four carries, including a 1-yard run on West Virginia's opening series. West Virginia cornerback Dontez Fagan then recovered a fumble by UCF quarterback Dylan Rizk, and Donaldson ran for 28 more yards on the next series that was capped by White’s 3-yard TD run. Greene struggled in the passing game for most of the first half, then went 4 of 6 for 65 yards just before halftime, hitting Rodney Gallagher with a 12-yard TD toss for a 21-7 lead. Rizk went 11 of 21 for 172 yards, including a 45-yard scoring strike to Kobe Hudson. RJ Harvey, the Big 12’s leading rusher, ran for 130 yards and two scores, including a 9-yard TD run that brought UCF within 31-21 with 5:20 left. But the ensuing onside kick didn't go the required 10 yards. Greene then converted a pair of fourth-down passes and West Virginia ran out the clock. Greene finished 13 of 21 for 118 yards. UCF: The Knights outgained West Virginia 348 yards to 318 but now have lost seven of eight games following a 3-0 start. West Virginia: The Mountaineers won despite being stuck in many third-and-long situations on offense against a solid effort from UCF's defensive front. UCF: Hosts Utah on Friday night. West Virginia: Finishes the regular season at Texas Tech next Saturday. Get alerts on the latest AP Top 25 poll throughout the season. Sign up here . AP college football: https://apnews.com/hub/ap-top-25-college-football-poll and https://apnews.com/hub/college-footballStockNews.com lowered shares of BlackBerry ( NYSE:BB – Free Report ) from a hold rating to a sell rating in a report published on Wednesday. A number of other equities analysts also recently commented on the stock. CIBC raised their target price on shares of BlackBerry from $3.50 to $3.60 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Canaccord Genuity Group boosted their price objective on BlackBerry from $2.70 to $2.80 and gave the stock a “hold” rating in a research note on Friday, October 18th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $3.00 target price on shares of BlackBerry in a research note on Friday, September 27th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $3.23. Read Our Latest Stock Analysis on BB BlackBerry Trading Up 1.3 % BlackBerry ( NYSE:BB – Get Free Report ) last released its quarterly earnings data on Thursday, September 26th. The company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.02. The business had revenue of $145.00 million for the quarter, compared to analyst estimates of $138.82 million. BlackBerry had a negative return on equity of 3.38% and a negative net margin of 21.66%. The company’s revenue was up 9.8% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.06) EPS. On average, equities research analysts forecast that BlackBerry will post -0.06 earnings per share for the current year. Insider Activity at BlackBerry In other BlackBerry news, insider Philip S. Kurtz sold 15,005 shares of the business’s stock in a transaction on Saturday, September 28th. The shares were sold at an average price of $2.53, for a total transaction of $37,962.65. Following the completion of the sale, the insider now owns 30,129 shares in the company, valued at $76,226.37. The trade was a 33.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link . 0.34% of the stock is currently owned by corporate insiders. Institutional Inflows and Outflows Several hedge funds and other institutional investors have recently modified their holdings of BB. Northwestern Mutual Wealth Management Co. boosted its position in BlackBerry by 83.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 11,769 shares of the company’s stock valued at $29,000 after purchasing an additional 5,349 shares during the period. Geode Capital Management LLC boosted its holdings in shares of BlackBerry by 2.9% during the third quarter. Geode Capital Management LLC now owns 267,073 shares of the company’s stock valued at $706,000 after acquiring an additional 7,652 shares during the period. International Assets Investment Management LLC grew its position in shares of BlackBerry by 60.7% during the third quarter. International Assets Investment Management LLC now owns 20,769 shares of the company’s stock worth $540,000 after acquiring an additional 7,842 shares during the last quarter. Signaturefd LLC increased its holdings in shares of BlackBerry by 65.5% in the 3rd quarter. Signaturefd LLC now owns 22,898 shares of the company’s stock worth $60,000 after acquiring an additional 9,063 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in BlackBerry by 7.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 130,665 shares of the company’s stock valued at $327,000 after purchasing an additional 9,156 shares during the last quarter. 54.48% of the stock is owned by institutional investors and hedge funds. About BlackBerry ( Get Free Report ) BlackBerry Limited provides intelligent security software and services to enterprises and governments worldwide. The company operates through three segments: Cybersecurity, IoT, and Licensing and Other. The company offers CylanceENDPOINT, an integrated endpoint security solution; CylanceGUARD, a managed detection and response solution; CylanceEDGE, an AI-powered continuous authentication zero trust network access solution; CylanceINTELLIGENCE, a contextual cyber threat intelligence service; BlackBerry Dynamics offers a development platform and secure container for mobile applications; BlackBerry Workspaces a secure Enterprise File Sync and Share (EFSS) solution; BlackBerry Messenger (BBM) Enterprise, an enterprise-grade secure instant messaging solution for messaging, voice and video; BlackBerry SecuSUITE is a certified, multi-OS voice and text messaging solution; BlackBerry AtHoc, a secure networked critical event management solution; and BlackBerry unified endpoint management (UEM) solutions. Further Reading Receive News & Ratings for BlackBerry Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BlackBerry and related companies with MarketBeat.com's FREE daily email newsletter .
NoneCharles & Colvard, Ltd. Receives Non-Compliance Letter from Nasdaq