Coinbase ( COIN 4.28% ) was founded in June 2012 with the sole purpose of facilitating the buying and selling of Bitcoin . But over the next 12 years, the digital asset brokerage and exchange operator has expanded into a broader business by offering more services. After a disappointing 2022, shares have been on an absolute tear, soaring 697% in the past two years. As of this writing on Dec. 19, the company's market cap sits at $70 billion. But can Coinbase continue its upward trajectory, increase 14-fold in value, and become the first trillion-dollar cryptocurrency stock by 2040? Betting on the entire crypto industry Thanks to its first-mover advantage, powerful network effects , and expanding financial ecosystem, Bitcoin deservedly gets a lot of the attention among investors. Smaller blockchain projects, like Ethereum , XRP , and Solana , are also potentially on the radars of those looking to put money to work in this industry. Here's where Coinbase provides a unique opportunity. I view the business as essentially being a bet on the growth of the entire cryptocurrency market because of the different ways it's exposed to the industry. Most people are familiar with the brokerage and exchange segment that lets individuals and institutions buy and sell hundreds of different cryptocurrencies. This activity represented 51% of net revenue in Q3 (ended Sept. 30), down from a much higher 88% share in the same period three years ago. In recent years, the leadership team has focused more on diversifying the business model to depend less on volatile trading volume and lean more into predictable subscriptions and services. This segment includes things like stablecoin revenue, staking rewards, and custody solutions. The hope is that as cryptocurrencies evolve from a tool mainly used for financial speculation to something that has day-to-day utility for people, Coinbase can rely less on volatile trading revenue. Coinbase also makes direct investments into new companies or technologies in the crypto space. As of Sept. 30, these strategic investments were valued at $359 million. While up-and-coming crypto start-ups could possibly be viewed as a threat to Coinbase's competitive position, the fact that this company has equity ownership in many of these businesses gives it financial upside should they succeed. Crypto over the long term Coinbase's ascent over the past decade is admirable. But its ultimate success rests not only on the cryptocurrency industry thriving over the long term, but on the company's ability to capture this opportunity. If the total crypto market continues rising in value and in number of blockchain projects, then it's not hard to believe that Coinbase could benefit. It has unrivaled exposure to the entire asset class. When crypto prices go up, there's generally more interest among the investment community to trade these digital assets. This can result in a growing user and revenue base for the business. What's more, this provides Coinbase with the resources to continue innovating. Recent developments with the Base Layer-2 solution or the USDC stablecoin demonstrate the company's ability to keep finding new areas for expansion. Temper expectations The cryptocurrency market is once again winning over investors thanks to rising asset prices and a risk-on mentality. However, I don't think anyone has any idea how the industry will look a decade or two from now. I believe the vast majority of tokens will end up worthless, as they solve no real-world problems and provide no utility. Consequently, I'm not as confident in the overall industry's long-term potential as crypto bulls might be. Major regulatory and technical hurdles still need to be cleared. Plus, cryptocurrencies need to be significantly better than the current financial system, in terms of costs, speed, security, and convenience, for example, for most people to want to make the switch. I'm not sure this will ever be the case. I don't believe Coinbase will ever get to the trillion-dollar mark.Stocks closed higher on Wall Street as the market posted its fifth straight gain and the Dow Jones Industrial Average notched another record high. The S&P 500 rose 0.3%. The benchmark index’s 1.7% gain for the week erased most of its loss from last week. The Dow rose 1% as it nudged past its most recent high set last week, and the Nasdaq composite rose 0.2%. Markets have been volatile over the last few weeks, losing ground in the runup to elections in November, then surging following Donald Trump's victory, before falling again. The S&P 500 has been steadily rising throughout this week to within close range of its record. It's now within about 0.5% of its all-time high set last week. “Overall, market behavior has normalized following an intense few weeks,” said Mark Hackett, chief of investment research at Nationwide, in a statement. Several retailers jumped after giving Wall Street encouraging financial updates. Gap soared 12.8% after handily beating analysts' third-quarter earnings and revenue expectations, while raising its own revenue forecast for the year. Discount retailer Ross Stores rose 2.2% after raising its earnings forecast for the year. EchoStar fell 2.8% after DirecTV called off its purchase of that company's Dish Network unit. Smaller company stocks had some of the biggest gains. The Russell 2000 index rose 1.8%. A majority of stocks in the S&P 500 gained ground, but those gains were kept in check by slumps for several big technology companies. Nvidia fell 3.2%. Its pricey valuation makes it among the heaviest influences on whether the broader market gains or loses ground. The company has grown into a nearly $3.6 trillion behemoth because of demand for its chips used in artificial-intelligence technology. Intuit, which makes TurboTax and other accounting software, fell 5.7%. It gave investors a quarterly earnings forecast that fell short of analysts’ expectations. Facebook owner Meta Platforms fell 0.7% following a decision by the Supreme Court to allow a multibillion-dollar class action investors’ lawsuit to proceed against the company. It stems from the privacy scandal involving the Cambridge Analytica political consulting firm. All told, the S&P 500 rose 20.63 points to 5,969.34. The Dow climbed 426.16 points to 44,296.51, and the Nasdaq picked up 42.65 points to close at 2,406.67. European markets closed mostly higher and Asian markets ended mixed. Crude oil prices rose. Treasury yields held relatively steady in the bond market. The yield on the 10-year Treasury fell to 4.41% from 4.42% late Thursday. In the crypto market, bitcoin hovered around $99,000, according to CoinDesk. It has more than doubled this year and first surpassed the $99,000 level on Thursday. Retailers remained a big focus for investors this week amid close scrutiny on consumer spending habits headed into the holiday shopping season. Walmart, the nation's largest retailer, reported a quarter of strong sales and gave investors an encouraging financial forecast. Target, though, reported weaker earnings than analysts' expected and its forecast disappointed Wall Street. Consumer spending has fueled economic growth, despite a persistent squeeze from inflation and high borrowing costs. Inflation has been easing and the Federal Reserve has started trimming its benchmark interest rates. That is likely to help relieve pressure on consumers, but any major shift in spending could prompt the Fed to reassess its path ahead on interest rates. Also, any big reversals on the rate of inflation could curtail spending. Consumer sentiment remains strong, according to the University of Michigan's consumer sentiment index. It revised its latest figure for November to 71.8 from an initial reading of 73 earlier this month, though economists expected a slight increase. It's still up from 70.5 in October. The survey also showed that consumers' inflation expectations for the year ahead fell slightly to 2.6%, which is the lowest reading since December of 2020. Wall Street will get another update on how consumers feel when the business group The Conference Board releases its monthly consumer confidence survey on Tuesday. A key inflation update will come on Wednesday when the U.S. releases its October personal consumption expenditures index. The PCE is the Fed's preferred measure of inflation and this will be the last PCE reading prior to the central bank's meeting in December.
WASHINGTON (AP) — American Airlines briefly grounded flights nationwide Tuesday because of a technical problem just as the Christmas travel season kicked into overdrive and winter weather threatened more potential problems for those planning to fly or drive. Government regulators cleared American flights to get airborne about an hour after the Federal Aviation Administration ordered a national ground stop for the airline. The order, which prevented planes from taking off, was issued at the airline's request after it experienced trouble with its flight operating system, or FOS. The airline blamed technology from one of its vendors. As a result, flights were delayed across American’s major hubs, with only 36% of the airline's 3,901 domestic and international flights leaving on time, according to Cirium, an aviation analytics company. Fifty-one flights were canceled. Dennis Tajer, a spokesperson for the Allied Pilots Association, a union representing American Airlines pilots, said the airline told pilots at 7 a.m. Eastern that there was an outage affecting the FOS system. It handles different types of airline operations, including dispatch, flight planning, passenger boarding, as well as an airplane's weight and balance data, he said. Some components of FOS have gone down in the past, but a systemwide outage is rare, Tajer said. Hours after the ground stop was lifted, Tajer said the union had not heard about any “chaos out there beyond just the normal heavy travel day.” He said officials were watching for any cascading effects, such as staffing problems. On social media, however, customers expressed frustration with delays that caused them or their family members to miss connecting flights. One person asked if American planned to hold flights for passengers to make connections, while others complained about the lack of assistance they said they received from the airline or gate agents. Bobby Tighe, a real estate agent from Florida, said he will miss a family Christmas Eve party in New York because his American flight was repeatedly delayed. The delays made him miss a connecting flight, leaving him the choice of going to his destination — Westchester, New York — on Christmas Day or taking another flight to Newark, New Jersey, that was scheduled to land Tuesday evening. He chose the latter. “I’m just going to take an Uber or Lyft to the airport I was originally supposed to go to, pick up my rental car and kind of restart everything tomorrow,” Tighe said. He said his girlfriend was “going through the same exact situation” on her way from Dallas to New York. Cirium noted that the vast majority of flights were departing within two hours of their scheduled departure time. A similar percentage — 39% — were arriving at their destinations as scheduled. Dallas-Fort Worth, New York’s Kennedy Airport and Charlotte, North Carolina, saw the greatest number of delays, Cirium said. Washington, Chicago and Miami experienced considerably fewer delays. Meanwhile, the flight-tracking site FlightAware reported that 4,058 flights entering or leaving the U.S., or serving domestic destinations, were delayed, with 76 flights canceled. The site did not post any American Airlines flights on Tuesday morning, but it showed in the afternoon that 961 American flights were delayed. Amid the travel problems, significant rain and snow were expected in the Pacific Northwest at least into Christmas Day. Showers and thunderstorms were developing in the South. Freezing rain was reported in the Mid-Atlantic region near Baltimore and Washington, and snow fell in New York. Because the holiday travel period lasts weeks, airports and airlines typically have smaller peak days than they do during the rush around Thanksgiving, but the grind of one hectic day followed by another takes a toll on flight crews. And any hiccups — a winter storm or a computer outage — can snowball into massive disruptions. That is how Southwest Airlines stranded 2 million travelers in December 2022, and Delta Air Lines suffered a smaller but significant meltdown after a worldwide technology outage in July caused by a faulty software update from cybersecurity company CrowdStrike. Many flights during the holidays are sold out, which makes cancellations even more disruptive than during slower periods. That is especially true for smaller budget airlines that have fewer flights and fewer options for rebooking passengers. Only the largest airlines, including American, Delta and United, have “interline agreements” that let them put stranded customers on another carrier’s flights. This will be the first holiday season since a Transportation Department rule took effect that requires airlines to give customers automatic cash refunds for canceled or significantly delayed flights. Most air travelers were already eligible for refunds, but they often had to request them. Passengers still can ask to get rebooked, which is often a better option than a refund during peak travel periods. That’s because finding a last-minute flight on another airline tends to be expensive. An American spokesperson said Tuesday was not a peak travel day for the airline — with about 2,000 fewer flights than the busiest days — so the airline had somewhat of a buffer to manage the delays. The groundings happened as millions of travelers were expected to fly over the next 10 days. The Transportation Security Administration expects to screen 40 million passengers through Jan. 2. Airlines expect to have their busiest days on Thursday, Friday and Sunday. About 90% of Americans traveling far from home over the holidays will be in cars, according to AAA. “Airline travel is just really high right now, but most people do drive to their destinations, and that is true for every holiday,” AAA spokesperson Aixa Diaz said. Gasoline prices are similar to last year. The nationwide average Thursday was $3.04 a gallon, down from $3.13 a year ago, according to AAA. Charging an electric vehicle averages just under 35 cents per per kilowatt hour, but varies by state. Transportation-data firm INRIX says travel times on the nation’s highways could be up to 30% longer than normal over the holidays, with Sunday expected to see the heaviest traffic. Boston, New York City, Seattle and Washington are the metropolitan areas primed for the greatest delays, according to the company.Zegona Communications plc ( LON:ZEG – Get Free Report ) shares shot up 16.9% on Monday . The company traded as high as GBX 374 ($4.69) and last traded at GBX 374 ($4.69). 2,029,883 shares traded hands during mid-day trading, an increase of 869% from the average session volume of 209,492 shares. The stock had previously closed at GBX 320 ($4.01). Zegona Communications Stock Up 6.8 % The stock’s 50 day simple moving average is GBX 331.09 and its two-hundred day simple moving average is GBX 323.56. The firm has a market cap of £2.86 billion, a P/E ratio of 4,511.11 and a beta of 2.80. The company has a debt-to-equity ratio of 4.22, a current ratio of 67.85 and a quick ratio of 6.23. Insider Activity at Zegona Communications In other news, insider Ashley G. Martin acquired 12,750 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The shares were bought at an average cost of GBX 330 ($4.14) per share, with a total value of £42,075 ($52,745.39). 74.68% of the stock is owned by corporate insiders. Zegona Communications Company Profile Zegona Communications plc engages in investing in telecommunications, media, and technology businesses in Europe. The company was incorporated in 2015 and is based in London, the United Kingdom. Recommended Stories Receive News & Ratings for Zegona Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zegona Communications and related companies with MarketBeat.com's FREE daily email newsletter .
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The huge country where barely anybody lives that's the world's largest landlocked nation
Army Chief of Staff visits home of Army Aviation
Zegona Communications (LON:ZEG) Shares Up 16.9% – Still a Buy?
ALDI Ireland shoppers are set to love the new major cleaning product that will help banish hard-to-reach areas. The bargain supermarket is set to stock the shelves of the popular middle aisle with a range of cleaning products and one of them is set to fly off the shelves. The ultimate product to banish hard-to-reach dirt from your car will land from December 27. The Ambiano Portable Vacuum Cleaner is priced at €19.99. Aldi Ireland said: "Keep your spaces clean with this Portable Vacuum Cleaner!" The vacuum itself is small, making it convenient for storage and on-the-go use. And it is also lightweight and durable, perfect to have in the car. The portable vacuum is designed to remove the dirt from hard-to-reach areas, such as corners in your cars, out-of-reach corners with cobwebs and crumbs in the car handbrakes. It can also absorb liquid, which is handy if you accidentally spilt coffee in your cupholder. It comes with two capacities built into the product: a 180ml dust capacity and a 40ml water capacity. And the best thing about this product is that it lasts up to an hour, perfect for deep cleaning days. The suction power is approximately 2.1kpa when selected on low speed and 4.0kpa on high-speed. The product comes with a charging base that takes up to three hours to fully charge the product. The product is available to purchase in white, black and blue. It comes with a three-year warranty to ensure that shoppers get their money's worth. Meanwhile, Lidl Ireland shoppers are rushing to buy major winter staples after they dropped in stores this week. The bargain supermarket has stocked the shelves of the popular middle aisle with a range of affordable heaters. The first item in the range is the 2000W Fan Heater for €12.99 - and it's the perfect product for the house. The temperature is adjustable by controlling the fan strength and it provides two heat settings: 1000W and 2000W. It can also be used as a fan, perfect for summer. The fan heater is ideal for the house as it can be used in any room, making it multi-use for the home. It also comes in two colours - white and black. For those who love the 2000W Fan heater but want to have extra perks - there is a fabulous 2000W Fan Heater with Remote Control for an extra €10. It comes with an adjustable temperature of 15 to 35C and comes with an optional 75-degree oscillation for optimum heat distribution. The remote control allows the homeowner to increase/decrease the fan strength, the temperature , the mode, and the timer and to power it on/off. The German discount supermarket chain came to Ireland in 1999. Aldi’s first few shops opened in November 1999, with locations in Sandyford, Dublin, and Ballincollig, Cork. By the mid-2000s, Aldi bosses had opened numerous stores, focusing on providing high-quality products at low prices. As the recession hit 2008-2012, Aldi's popularity grew as consumers became more price-conscious. The supermarket giant continued it’s expansion in Ireland between 2013-2018, while refurbishing existing stores. By 2018, Aldi had over 130 shops throughout the country. The chain began to focus on expanding its range of Irish-made products and supporting local producers. In 2023, Aldi had over 140 stores in Ireland. The store invested in sustainability initiatives, such as reducing plastic packaging and increasing the availability of organic and eco-friendly products. Aldi chiefs said: “At Aldi we are committed to supporting Irish suppliers. Developed in partnership with Bord Bia, Grow with Aldi is designed to help the very best Irish suppliers develop their brand. “To date, we’ve invested €10 million in our Grow with Aldi development programme in a bid to find the very best Irish suppliers. “As a result, for a limited time only there are over 47 new products, from 27 Irish suppliers available in store.” Aldi have introduced technological advancements with self-checkout systems and contactless payment options.
NEW YORK , Dec. 23, 2024 /PRNewswire/ -- Halper Sadeh LLC, an investor rights law firm, is investigating the following companies for potential violations of the federal securities laws and/or breaches of fiduciary duties to shareholders relating to: Altair Engineering Inc. (NASDAQ: ALTR)'s sale to Siemens for $113.00 per share in cash. If you are an Altair shareholder, click here to learn more about your legal rights and options . Sandy Spring Bancorp (NASDAQ: SASR)'s sale to Atlantic Union Bankshares Corporation for 0.900 shares of Atlantic Union common stock for each share of Sandy Spring . If you are a Sandy Spring shareholder, click here to learn more about your rights and options . Atlantic Union Bankshares Corporation (NYSE: AUB)'s merger with Sandy Spring Bancorp. If you are an Atlantic shareholder, click here to learn more about your rights and options . Cyclo Therapeutics, Inc. (NASDAQ: CYTH)'s merger with Rafael Holdings, Inc. If you are a Cyclo shareholder, click here to learn more about your rights and options . Halper Sadeh LLC may seek increased consideration for shareholders, additional disclosures and information concerning the proposed transaction, or other relief and benefits on behalf of shareholders. We would handle the action on a contingent fee basis, whereby you would not be responsible for out-of-pocket payment of our legal fees or expenses. Shareholders are encouraged to contact the firm free of charge to discuss their legal rights and options. Please call Daniel Sadeh or Zachary Halper at (212) 763-0060 or email sadeh@halpersadeh.com or zhalper@halpersadeh.com . Halper Sadeh LLC represents investors all over the world who have fallen victim to securities fraud and corporate misconduct. Our attorneys have been instrumental in implementing corporate reforms and recovering millions of dollars on behalf of defrauded investors. Attorney Advertising. Prior results do not guarantee a similar outcome. Contact Information: Halper Sadeh LLC Daniel Sadeh, Esq. Zachary Halper, Esq. (212) 763-0060 sadeh@halpersadeh.com zhalper@halpersadeh.com https://www.halpersadeh.com View original content to download multimedia: https://www.prnewswire.com/news-releases/shareholder-investigation-halper-sadeh-llc-investigates-altr-sasr-aub-cyth-on-behalf-of-shareholders-302338489.html SOURCE Halper Sadeh LLPBryce Thompson scored 17 points and achieved a milestone as Oklahoma State defeated Miami 80-74 on Friday afternoon in a Charleston Classic consolation game in Charleston, S.C. Thompson made 6-of-14 shots from the floor, surpassing 1,000 points for his career at Oklahoma State (4-1), which also got 15 points from Marchelus Avery. The Cowboys won in large part thanks to their impressive 3-point shooting (10-for-22, 45.5 percent). Oklahoma State backup guard Arturo Dean, a Miami native, posted eight points and one steal. He led the nation in steals last season while playing for Florida International. Miami (3-2) has lost two straight games in Charleston, failing to take a lead at any point. They will play on Sunday against either Nevada or VCU. The Hurricanes on Friday were led by Nijel Pack, who had a game-high 20 points. Brandon Johnson had a double-double for Miami with 12 points and 10 rebounds. Matthew Cleveland scored 11 points and Lynn Kidd and Paul Djobet added 10 points apiece for Miami. Miami, which fell behind 7-0 in Thursday's loss to Drake, got behind 9-0 on Friday as Abou Ousmane scored six of his eight points. Oklahoma State stretched its lead to 18 before settling for a 43-27 advantage at the break. Pack led all first-half scorers with 10 points, but Miami shot just 29.6 percent from the floor, including 3-of-13 on 3-pointers (23.1). Oklahoma State shot 48.4 percent, including 8-for-15 on 3-pointers (53.3 percent) before intermission. The Cowboys also had a 14-8 edge in paint points. In the second half, Miami closed its 20-point deficit to 55-42 with 12:12 left. Miami got a bit closer as two straight short jumpers by Kidd, trimming the deficit to 73-62 with 3:25 to play. The Hurricanes cut it to 77-70 on Pack's 3-pointer with 34 seconds remaining, but the Cowboys hit their free throws to close out the win. --Field Level MediaBy Africanews with AP Russian planes being loaded with trucks and equipment were seen on Tuesday in Qamishli airport in Hasaka, in what seems to be a withdraw of forces from northeastern Syria. Following the fall of Bashar Assad's government Russian forces and military vehicles were seen leaving Syria in the coastal city of Latakia. The British-based Syrian Observatory for Human Rights reported last week that Russian forces were leaving bases in Ain Issa and Tel Al-Samn near the northern city of Raqqa. Satellite images released by Maxar Technologies showed what appear to be cargo planes at a Russian military airfield in Syria with their nose cones opened to receive heavy equipment, along with helicopters being dismantled and prepared for transport. Moscow has reached out to the new Syrian authorities to try to ensure the security of its bases. Assad was overthrown by insurgent groups just over two weeks ago following a swift offensive that has shaken up the country’s alliances and led to celebrations in a nation long stifled by civil war.
One could argue that the New York Jets have been one of the most disappointing teams in football this season. Thought of as a playoff team at the very least, the 3-8 Jets have looked anything but a polished and confident team with Aaron Rodgers looking every bit the 41-year-old quarterback, head coach Robert Saleh and offensive coordinator Nathaniel Hackett fired, the defense leaking points and so on. With both sides of the ball not playing up to the standard many thought they could achieve, the 2024 season has just been putrid for fans, but CBS Sports thinks there's one thing that the organization can be thankful for soon. "A total blowup awaits," CBS Sports writes . "Coach Robert Saleh and general manager Joe Douglas have already exited after pushing all their chips on the aging, ailing Aaron Rodgers. They badly need fresh ideas at the key spots." © Brad Penner-Imagn Images With a big reset likely to occur in the offseason, with a new head coach, perhaps both coordinators and a general manager, there will be many new faces in the building. Additionally, it remains to be seen if Rodgers will return in 2025, despite stating his preference is to stay a Jet, but is it worth running things back again? Or will a total rebuild, as CBS Sports suggests, be the best way to cleanse the organization from the bad vibes? Related: Aaron Rodgers Chastises 'Leaky' Jets One could easily say yes, but before any of that can happen, fans have to endure the last six games of the season with playoffs out of the equation, barring a monumental shift in form. And that, for Jets fans at least, isn't something to be thankful for. Related: Is Breece Hall OK for Sunday?DETROIT (AP) — For a second time, a Delaware judge has nullified a pay package that Tesla had awarded its CEO, Elon Musk, that once was valued at $56 billion. On Monday, Chancellor Kathaleen St. Jude McCormick turned aside a request from Musk's lawyers to reverse a ruling she announced in January that had thrown out the compensation plan. The judge ruled then that Musk effectively controlled Tesla's board and had engineered the outsize pay package during sham negotiations . Lawyers for a Tesla shareholder who sued to block the pay package contended that shareholders who had voted for the 10-year plan in 2018 had been given misleading and incomplete information. In their defense, Tesla's board members asserted that the shareholders who ratified the pay plan a second time in June had done so after receiving full disclosures, thereby curing all the problems the judge had cited in her January ruling. As a result, they argued, Musk deserved the pay package for having raised Tesla's market value by billions of dollars. McCormick rejected that argument. In her 103-page opinion, she ruled that under Delaware law, Tesla's lawyers had no grounds to reverse her January ruling “based on evidence they created after trial.” On Monday night, Tesla posted on X, the social media platform owned by Musk, that the company will appeal. The appeal would be filed with the Delaware Supreme Court, the only state appellate court Tesla can pursue. Experts say a ruling would likely come in less than a year. “The ruling, if not overturned, means that judges and plaintiffs' lawyers run Delaware companies rather than their rightful owners — the shareholders,” Tesla argued. Later, on X, Musk unleashed a blistering attack on the judge, asserting that McCormick is “a radical far left activist cosplaying as a judge.” Legal authorities generally suggest that McCormick’s ruling was sound and followed the law. Charles Elson, founding director of the Weinberg Center for Corporate Governance at the University of Delaware, said that in his view, McCormick was right to rule that after Tesla lost its case in the original trial, it created improper new evidence by asking shareholders to ratify the pay package a second time. Had she allowed such a claim, he said, it would cause a major shift in Delaware’s laws against conflicts of interest given the unusually close relationship between Musk and Tesla’s board. “Delaware protects investors — that’s what she did,” said Elson, who has followed the court for more than three decades. “Just because you’re a ‘superstar CEO’ doesn’t put you in a separate category.” Elson said he thinks investors would be reluctant to put money into Delaware companies if there were exceptions to the law for “special people.” Elson said that in his opinion, the court is likely to uphold McCormick's ruling. Experts say no. Rulings on state laws are normally left to state courts. Brian Dunn, program director for the Institute of Compensation Studies at Cornell University, said it's been his experience that Tesla has no choice but to stay in the Delaware courts for this compensation package. The company could try to reconstitute the pay package and seek approval in Texas, where it may expect more friendlier judges. But Dunn, who has spent 40 years as an executive compensation consultant, said it's likely that some other shareholder would challenge the award in Texas because it's excessive compared with other CEOs' pay plans. “If they just want to turn around and deliver him $56 billion, I can't believe somebody wouldn't want to litigate it,” Dunn said. “It's an unconscionable amount of money.” Almost certainly. Tesla stock is trading at 15 times the exercise price of stock options in the current package in Delaware, Morgan Stanley analyst Adam Jonas wrote in a note to investors. Tesla's share price has doubled in the past six months, Jonas wrote. At Monday’s closing stock price, the Musk package is now worth $101.4 billion, according to Equilar, an executive data firm. And Musk has asked for a subsequent pay package that would give him 25% of Tesla's voting shares. Musk has said he is uncomfortable moving further into artificial intelligence with the company if he doesn't have 25% control. He currently holds about 13% of Tesla's outstanding shares.MicroStrategy Inc., a leading technology company, recently disclosed essential information in its Form 8-K filing with the Securities and Exchange Commission. The company, under the ticker symbol MSTR in the Nasdaq Global Select Market, revealed key updates regarding its Bitcoin holdings and ATM transactions. In the report, MicroStrategy announced that between December 16, 2024, and December 22, 2024, it sold a total of 1,317,841 shares of its class A common stock under a Sales Agreement with various agents. The aggregate net proceeds from these sales amounted to approximately $561 million. As of December 22, 2024, the company still had around $7.08 billion worth of shares available for issuance and sale under the agreement. MicroStrategy also disclosed its Bitcoin Total Capital Yield KPI, indicating that from October 1, 2024, to December 22, 2024, the BTC Yield was 47.4%. Over a more extended period, from January 1, 2024, to December 22, 2024, the BTC Yield stood at 73.7%. BTC Yield serves as a crucial key performance indicator for the company, representing the percentage change period-to-period of the ratio between its bitcoin holdings and the Assumed Diluted Shares Outstanding. The company highlighted that BTC Yield is used to assess the performance of its strategy in acquiring bitcoin, believing it to be beneficial to shareholders. MicroStrategy emphasized that this metric is not intended as an operating or financial measure and does not reflect the return on investment or income generated by its operations or assets. It also clarified that BTC Yield is not indicative or predictive of the trading price of its shares. MicroStrategy concluded the filing by stating that the information provided should not be considered as filed for regulatory purposes under the Exchange Act. Investors were advised to rely on the company’s financial statements and SEC filings while using the disclosed KPI as a supplement, not a substitute. As of the signing of the report on December 23, 2024, by W. Ming Shao, Executive Vice President & General Counsel of MicroStrategy Inc., the company continues to place emphasis on transparency and communication with its stakeholders regarding its financial activities and Bitcoin holdings. This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read MicroStrategy’s 8K filing here . About MicroStrategy ( Get Free Report ) MicroStrategy Incorporated provides artificial intelligence-powered enterprise analytics software and services in the United States, Europe, the Middle East, Africa, and internationally. It offers MicroStrategy ONE, which provides non-technical users with the ability to directly access novel and actionable insights for decision-making; and MicroStrategy Cloud for Government service, which offers always-on threat monitoring that meets the rigorous technical and regulatory needs of governments and financial institutions. Further Reading
WASHINGTON (AP) — President Joe Biden's decision to break his word and pardon his son Hunter has spurred a broader discussion about what else he should be doing with the broad clemency powers of the presidency before he leaves office in January, including whether he should be pardoning Donald Trump. Biden on Tuesday ducked questions about his son, ignoring calls for him to explain his reversal as he was making his first presidential trip to Angola . He dismissed shouted questions about the matter with a laugh during a meeting with Angolan President João Lourenço at the presidential palace, telling the Angolan delegation: “Welcome to America.” Biden was not scheduled to take questions from the press during his trip to Africa, and he has largely avoided interactions with reporters since President-elect Trump’s victory last month. Biden’s decision to offer his son a blanket pardon for actions over the past 11 years has sparked a political uproar in Washington, after the president repeatedly had said he would not use his extraordinary powers for the benefit of his family. Biden claimed that the Justice Department had presided over a “miscarriage of justice” in prosecuting his son, using some of the same language that Trump uses to describe his own legal predicaments. Biden's reversal drew criticism from many Democrats , who are working to calibrate their approach to Trump as he prepares to take over the Oval Office in seven weeks. There is concern the pardon — and Biden's claims that his son was prosecuted for political reasons — will erode their ability to push back on the incoming president’s legal moves. And it has threatened to cloud Biden's legacy as he prepares to leave office on Jan. 20. Hunter Biden is the closest presidential relative ever to be granted clemency, but other leaders have pardoned family members and close friends. Bill Clinton pardoned his brother Roger for drug charges after Roger Clinton had served his sentence. By the time Trump left office after his first term, he had issued 144 pardons, which included Charles Kushner , the father of his son-in law, Jared Kushner. He also pardoned fervent supporters Steve Bannon, Roger Stone, Paul Manafort, Michael Flynn and other people convicted in special counsel Robert Mueller’s Russia investigation. In the months after the 2020 election, Trump and his allies were trying to overturn his loss, a failed effort that culminated in the violent riot by his supporters at the Capitol on Jan. 6, 2021. There were discussions at the time over whether Trump would preemptively pardon some of those involved in the effort — and maybe even himself — before he left office. But that never happened. Now, Democrats are having similar discussions about preemptive pardons on their side because of Trump's rhetoric on the campaign trail. He's made no secret of his desire to seek revenge on those who prosecuted him or crossed him. He talks about "enemies from within." He's circulated social media posts that call for the jailing of Biden, Vice President Kamala Harris, former Vice President Mike Pence and Sens. Mitch McConnell and Chuck Schumer. He's also taken aim at Liz Cheney, a conservative Republican who campaigned for Harris, promoting a social media post that suggested he wanted military tribunals to punish her because she was guilty of treason. Sen. Ed Markey, a Massachusetts Democrat, said last week on Boston Public Radio that Biden might consider broad pardons to protect people against whatever wrath Trump may seek, but also as a way to move the country past this acrimonious and divided time. “I think that without question, Trump is going to try to act in a dictatorial way, in a fascistic way, in a revengeful first year at least of his administration toward individuals who he believes harmed him,” Markey said. Presidents enjoy expansive pardon powers when it comes to federal crimes . That includes granting clemency to people who have not yet been charged, as President Gerald Ford did in 1974 when he pardoned his predecessor, Richard Nixon, over the Watergate scandal. The decision at the time caused an uproar but has been seen in the ensuing decades as a move that helped restore order. Markey cited Ford's pardon as a way for the country “just to close that chapter and move on to a new era.” Biden could do the same, Markey said, to help the country move on “to an agenda that deals with the ordinary families.” Sen. Joe Manchin, the Democrat-turned-independent from West Virginia, took it a step further and suggested Biden should even pardon Trump for his efforts to overturn the 2020 election, federal charges that are now evaporating with Trump's upcoming return to the White House. “Why don't you go ahead and pardon Donald Trump for all his charges?" he said in an interview with CNN. “It would have gone down a lot more balanced. I'm just saying, wipe them out.” At the same time, Democratic lawmakers and criminal justice reformers are pushing Biden to grant pardons to broad groups of Americans. Democrats Ayanna Pressley, Jim Clyburn and Mary Gay Scanlon wrote to Biden on Nov. 20, asking him to use his clemency powers to "address longstanding injustices in our legal system, and set our nation on the path toward ending mass incarceration.” The letter, also signed by 61 others, suggested Biden could use his powers to send a powerful message of criminal justice reform and "rectify unjust and unnecessary criminal laws passed by Congress and draconian sentences given by judges.” “We encourage you to use your clemency powers to help broad classes of people and cases, including the elderly and chronically ill, those on death row, people with unjustified sentencing disparities, and women who were punished for defending themselves against their abusers,” they wrote. So far, Biden has pardoned 25 people. Most presidents tend to grant a flurry of clemency requests at the end of their terms, and it's likely Biden will do the same. White House press secretary Karine Jean-Pierre has said Biden is “thinking through that process very thoroughly.” ___ Weissert reported from Luanda, Angola.TORONTO, Dec. 23, 2024 (GLOBE NEWSWIRE) — Water Ways Technologies Inc. (TSXV: WWT) (FRA: WWT) (“ ” or the “ “), a global provider of Israeli-based agriculture technology, providing water irrigation solutions to agricultural producers, announces that further to the press release of December 11, 2024, the Company is awaiting TSXV approval to confirm the effective date. A further press release will be disseminated advising of the effective date once the TSXV has provided their approval to the consolidation. WWT through its subsidiaries, is a global provider of Israeli-based agriculture technology, providing water irrigation solutions to agricultural producers. WWT competes in the global irrigation water systems market with a focus on developing solutions with commercial applications in the micro and precision irrigation segments of the overall market. At present, WWT’s main revenue streams are derived from the following business units: (i) Projects Business Unit; and (ii) Component and Equipment Sales Unit. WWT is capitalizing on the opportunities presented by micro and smart irrigation, while also making a positive mark on society by making these technologies more widely available, especially in developing markets such as Africa and Latin America and developed markets such as China and Canada. WWT’s irrigation projects include vineyards, Cotton fields, Apple and Orange orchards, Blueberry, Medical Cannabis growers, fresh produce cooling rooms and more, in over fifteen countries. Ronnie Jaegermann Director T: +972-54-4202054 E: