Market Signal Briefing

XRP trades around $2.04 and remains under pressure after weeks of volatile sentiment, marking a drop of 7.5% in the last 7 days and 9% in the last 30 days. The token dropped through parts of the last month, yet the network prepares for a technical shift that may shape long-term adoption. Smart Escrows now enter the ecosystem, and the upgrade unlocks programmable conditions inside the XRP Ledger’s native escrow system.

Vet, a well-known XRPL validator, shared the development on X. His update revealed a major step that turns basic escrows into programmable tools. The feature introduces on-ledger logic that evaluates preset conditions before funds move. This logic gives users a simple form of automation without a heavy smart-contract layer.

The Smart Escrow model stores a compact program inside each escrow object. The program checks conditions in real time and decides whether funds should release or return. Users no longer rely on outside systems to manage those conditions. XRPL keeps its fast settlement design while gaining expressive power.

How the New Conditional Logic WorksThe embedded logic checks on-chain data or oracle feeds during each evaluation. The process stays lightweight so the ledger maintains speed. Developers can automate basic agreements without building external apps or custom verification layers.

The design fits XRPL’s performance standards. Smart Escrows run programs that verify rules with minimal friction. A business can enforce milestones. A lender can trigger collateral release. A user can lock XRP until market prices meet the target. Each flow executes through rules set at creation.

Oracle Inputs Shape Real-World Use CasesOracles supply data such as exchange rates, delivery confirmations, or compliance checks. Smart Escrows use those inputs to determine outcomes. A price-based escrow triggers settlement when XRP hits the target. A vendor contract completes payment after an oracle confirms delivery. Institutions can create structured settlement paths across borders without custom code.

This upgrade offers new confidence for firms that rely on predictable execution. The XRPL community tests the amendment as validators move toward activation. Each validator prepares to run updated software so the feature launches cleanly.

Why Smart Escrows Matter for the XRPL EcosystemSmart Escrows strengthen automation without slowing the ledger. Users gain transparency because the conditions sit on-chain. Developers gain new flexibility. Institutions gain predictable behavior that fits regulated environments.

The feature expands XRPL’s reach in digital finance. It delivers logic that improves settlement, lending, vendor payments, and price-triggered flows. The XRPL moves from a simple escrow model to programmable conditional settlement.

Ripple Faces New Questions on Its Escrowed XRPThe conversation around Ripple’s escrowed holdings grows louder. Crypto Sensei sparked fresh debate when he described how Ripple can structure sales around escrowed XRP without releasing tokens into circulation. He noted that Ripple can sell rights to future escrow releases or even sell the destination accounts tied to those escrows. He stressed that such moves do not put XRP into the market until the escrow completes.

His comments challenged rumors that Ripple already sold large quantities to institutions. He argued that most claims lack proof because Ripple relocks about 700 million XRP each month. Those tokens would not return to escrow if Ripple no longer held control.

The Clarity Act Raises the StakesCrypto Sensei highlighted the Clarity Act, a proposed bill that limits any single company from holding more than 20% of a blockchain’s supply. Ripple controls about 45 billion XRP, equal to roughly 45% of the supply. If the bill becomes law, Ripple may need to reduce its holdings to around 20 billion XRP.

He outlined possible actions. Ripple may reveal who controls certain escrow accounts. It may create a clear plan to reduce its 45 billion XRP position. These steps matter because supply transparency shapes investor confidence.

What This Means for XRP’s OutlookXRP’s long-term trajectory depends on how Ripple manages future supply. Market participants monitor its escrow flows and institutional relationships. If Ripple sells rights tied to escrowed tokens, the buyer profile may influence market expectations.

Smart Escrows expand XRPL’s technical capabilities at the same moment Ripple faces new regulatory pressure. Both developments shape the next chapter for XRP. The network grows stronger while Ripple calculates how its holdings fit into a changing regulatory landscape.

Sat, 6/12/2025 - 20:00

Shiba Inu Layer-2 blockchain Shibarium has gained attention in the market as a popular SHIB explorer hints at an ongoing reset.

Cover image via U.Today

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Shiba Inu Layer 2 Shibarium is under the spotlight as Shibariumscan, its dedicated blockchain explorer, hints at a reset. This speculation is not far fetched as the Shibarium network recently underwent a security upgrade, with its old public RPC connection retired.

Weeks back, the Shiba Inu team revealed an ongoing Shibarium RPC Migration Network upgrade, which included a legacy endpoint closure, with the old public RPC connection for Shibarium retired, thus ending access through the previous URL.

A look at the Shibariumscan explorer reveals something unusual: the numbers presently displayed are different from what one was previously used to.

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Before now, total blocks had crossed 14 million, while total transactions stood at above 1.56 billion, and total addresses above 272 million. At the moment, these figures are significantly lower.

The current count for total blocks is 2,378,324; total transactions is 168,046,095, while total addresses stood at 5,151,236. The daily transactions part of the page was also not found.

What happened?The drop in the Shibarium statistics might not be because activity necessarily slowed. A potential reason might be due to the Shibarium network retiring its old RPC. When an RPC endpoint is retired, explorers may rebuild or resync their data from a different index.

This might explain the drop in data reported, even though the chain is performing optimally. This premise is corroborated as Shibariumscan noted on its page an ongoing index to the chain, stating that the current counts might not be accurate.

A notice on the Shibariumscan page reads: "16% Blocks Indexed – We're indexing this chain right now. Some of the counts may be inaccurate."

In positive news, Shibarium’s utility layer is set for a major upgrade scheduled for Q2, 2026, amid efforts to provide full on-chain privacy for users.

Shiba Inu team member Lucie revealed a timeline of Q2, 2026, for Zama Shibarium privacy upgrade, allowing full on-chain privacy and confidential smart contracts on Shibarium and Bone thanks to Zama’s fully homomorphic encryption technology.

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The restaurant company's stock has brought all the trade-offs to the table you'd expect it to.

No one denies fast food restaurant chain McDonald's (MCD +0.87%) offers consumers an affordable eating experience. Sometimes, however, that's still not enough. As CEO Chris Kempczinski commented during November's third-quarter earnings conference call, "We continue to see a bifurcated consumer base with traffic from lower-income consumers declining nearly double digits in the third quarter." He reminded investors, "it's a trend that's persisted for nearly two years."

And this dynamic raises an important question for investors: How much have the money struggles being faced by a key segment of McDonald's customer base adversely impacted this company's stock?

Image source: Getty Images.

Answer: Not as much as you might think. Although it hasn't kept pace with the technology-led S&P 500 (^GSPC +0.19%) for the time frame (not that you would expect it to), over the course of the past five years, McDonald's stock has gained 46%. That number is ratcheted up to 63% when factoring in reinvested dividends during this stretch.

Today's Change

(

0.87

%) $

2.69

Current Price

$

311.23

Now take a closer look at the chart above. Yes, the broad market has outperformed McDonald's stock for the five years in question. Shares have made much more consistent forward progress, though, even performing well during 2022's bear market. Indeed, the fast-food restaurant chain's stock has frequently moved in opposition to the S&P 500's direction during this five-year stretch, confirming its categorization as a defensive holding.

Going forward, less performance but more predictability
That being said, know that prior to the beginning of the past five years, McDonald's stock consistently outperformed the S&P 500. Credit the fact that the company still had room to expand its physical footprint then, mostly. Now with 44,599 restaurants up and running worldwide, meaningful expansion opportunities are diminishing in number. From here, the bulk of the company's top- and bottom-line growth is going to come from higher prices and more foot traffic. This, of course, is easier said than done, as last quarter's U.S. same-store sales growth of 2.4% reminds us.

Nevertheless, a slower-growing McDonald's is still a reliably formidable one.

See, investing in this company isn't as much a bet on a restaurant chain as it is an investment in rental real estate. More than 95% of its stores are run by franchisees that pay ever-rising rent to operate from buildings owned by the company itself. The fact that McDonald's remains one of the world's most recognizable and marketable brand names is why these franchisees remain willing to agree to relatively unusual terms for the restaurant industry.

These terms are, of course, ideal for investors, in that these rent payments generate more reliable revenue, in turn supporting a dividend payment that's now been raised for 49 consecutive years.

It’s only been a day since Netflix announced an $82.7 billion deal to acquire Warner Bros., and the acquisition has already been described as sending Hollywood into “full-blown panic mode,” “possibly a death blow to theatrical filmmaking,” and maybe even “the end of Hollywood” itself.

Some of the firmest opposition has come from the Writers Guild of America, which issued a statement declaring, “This merger must be blocked.”

“The world’s largest streaming company swallowing one of its biggest competitors is what antitrust laws were designed to prevent,” the WGA said. “The outcome would eliminate jobs, push down wages, worsen conditions for all entertainment workers, raise prices for consumers, and reduce the volume and diversity of content for all viewers.”

While statements from other Hollywood unions were not quite as unequivocal, they still suggested that there are  “many serious questions” about the acquisition’s “impact on the future of the entertainment industry” (as the actors union SAG-AFTRA put it).

The deal came after a competitive process in which Paramount and Comcast also bids. Paramount was trying to acquire the entire company, while Netflix will only buy acquire the film and television studios, as well as the streaming business, after Warner Bros. moves forward with a plan to spin off its TV networks division.

Initially, Paramount was seen as the frontrunner, with its ties to the Trump administration (the studio is now run by David Ellison, son of Oracle co-founder and Trump ally Larry Ellison) easing the way for regulatory approval. But even before the Netflix deal was announced, Paramount’s lawyers sent an angry letter complaining about “a tilted and unfair process,” and Netflix soon emerged publicly as the winner.

This deal, which is expected to close in the third quarter of 2026, would presumably face significant regulatory scrutiny, and not just from Trump appointees. Senator Elizabeth Warren — a Democrat from Massachusetts and longtime critic of Big Tech — put out a statement of her own describing the deal as “an anti-monopoly nightmare.”

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“A Netflix-Warner Bros. [merger] would create one massive media giant with control of close to half of the streaming market — threatening to force Americans into higher subscription prices and fewer choices over what and how they watch, while putting American workers at risk,” Warren said.

She also argued that antitrust enforcement — including the review process for this deal — must be conducted “fairly and transparently” rather than used to “invite influence-peddling and bribery.”

If the government ultimately blocks the acquisition, Netflix would be required to pay a $5.8 billion breakup fee. It’s not clear whether Warner Bros. would then continue operating as an independent company or would reconsider the previous acquisition offers.

Netflix held an analyst call to discuss the deal on Friday morning, and while many of the questions were focused on the financial impact on both companies, executives also attempted to address larger concerns.

For example, co-CEO Ted Sarandos said he’s “highly confident in the regulatory process.”

“This deal is pro-consumer, pro-innovation, pro-worker, it’s pro-creator, it’s pro-growth,” he added. “And our plans here are to work really closely with all the appropriate governments and regulators, but really confident that we’re going to get all the necessary approvals that we need.”

Sarandos also said that Netflix intends to keep HBO “operating largely as it is.” And although it’s not something Netflix has done in the past, Warner Bros. would also continue producing TV shows for other networks and streaming services, he said: “We want to keep that successful business operating.”

As for how HBO and HBO Max would be packaged with or folded into the Netflix app, co-CEO Greg Peters said it’s too early to get into specifics, but he said, “Needless to say, we think the HBO brand is very powerful for consumers. We think that the offering could constitute and would constitute a part of our plans and how we structure those for consumers.”

Beyond general concerns around consolidation, perhaps the biggest question is to what extent Netflix will support theatrical releases for the combined entity’s films — especially after Warner Bros. had a record-setting run of box office success this year, while Netflix’s theatrical releases only last for a couple weeks and skip major theatrical chains because of the limited exclusive window. (This was reportedly the deciding factor wjhen “Stranger Things” creators the Duffer Brothers signed an exclusive deal with Paramount.)

For his part, Sarandos said he “wouldn’t look at this as a change in approach for Netflix movies or for Warner movies for that matter,” and he noted that Netflix has released 30 movies in theaters this year (though again, usually on fewer screens and for a limited period of time).

Similarly, “everything that is planned on going to the theater through Warner Bros. will continue to go to the theaters through Warner Bros,” he said. But in the long term, he suggested that “the windows will evolve” so that movies come to streaming more quickly.

“My pushback has been mostly in the fact of the long exclusive windows, which we don’t really think of that consumer friendly,” he said.

December 06, 2025 1:51 PM EST | Source: The Rosen Law Firm PA
New York, New York--(Newsfile Corp. - December 6, 2025) - WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of common stock of James Hardie Industries plc (NYSE: JHX) between May 20, 2025 through August 18, 2025, both dates inclusive (the "Class Period") of the important December 23, 2025 lead plaintiff deadline.

SO WHAT: If you purchased James Hardie common stock during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the James Hardie class action, go to https://rosenlegal.com/submit-form/?case_id=46976 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than December 23, 2025. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved, at that time, the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, James Hardie Industries plc misled investors about the strength of its key North America Fiber Cement segment between May 20 and August 18, 2025. Despite knowing by April and early May that distributors were destocking inventory, James Hardie falsely claimed demand remained strong and that stock levels were "normal." When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the James Hardie class action, go to https://rosenlegal.com/submit-form/?case_id=46976 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

-------------------------------

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/277128

Triple-class exposed patients with three prior lines of therapy in CARTITUDE-1 and CARTITUDE-4 achieved a median PFS of 50.4 months after a single infusion of CARVYKTI® Translational analyses show stronger immune fitness and a more immunocompetent TME when CARVYKTI® is used earlier in the treatment journey Eighty percent of as-treated patients in CARTITUDE-4 with standard-risk cytogenetics remained progression-free and off treatment at 30 months after a single infusion of CARVYKTI® Promising first-in-human results from allogeneic CAR-T candidate LUCAR-G39D demonstrate encouraging safety and efficacy in B-cell non-Hodgkin lymphoma
SOMERSET, N.J., Dec. 06, 2025 (GLOBE NEWSWIRE) -- Legend Biotech Corporation (NASDAQ: LEGN) (Legend Biotech), a global leader in cell therapy, today announced new long-term clinical and translational data for CARVYKTI® (ciltacabtagene autoleucel; cilta-cel) from the CARTITUDE-1 and CARTITUDE-4 studies in relapsed / refractory multiple myeloma (RRMM) patients. In triple-class-exposed patients who had received three prior lines of therapy, a median progression-free survival (mPFS) of 50.4 months was observed following a single infusion of CARVYKTI®. This represents one of the longest PFS outcomes reported for a BCMA-targeted CAR-T cell therapy in this heavily pretreated population.

These results, presented in an oral presentation (Abstract #92) at the 67th American Society of Hematology (ASH) Annual Meeting, add to a body of clinical evidence and real-world experience supporting the long-term benefits of CARVYKTI®, which has treated over 9,000 patients globally.

Building on these outcomes, findings from CARTITUDE-1 and CARTITUDE-4 demonstrated that patients treated earlier, after one or two prior lines of therapy, exhibited stronger immune fitness. These patients had higher baseline levels of CD4+ naïve T cells and a more immunocompetent tumor microenvironment (TME), biological features that suggest an association with longer PFS and consistent with the observation that mPFS had not been reached in as-treated CARTITUDE-4 patients at a median follow-up of 34 months.

“The translational analyses presented at ASH provide important insights into the biological basis of the durable responses we’re seeing clinically,” said Samir Parekh, M.D., Professor of Medicine, Hematology and Medical Oncology, and Oncological Sciences at the Icahn School of Medicine at Mount Sinai. “Patients who received CARVYKTI earlier showed more resilient immune systems and a more favorable TME, both of which are linked to improved progression-free survival. These data underscore the value of maintaining strong T-cell health to achieve sustained treatment benefit.” ‡

These findings further complement the robust clinical outcomes observed across the CARTITUDE program. In addition to these correlative analyses, the Company presented updated results from the Phase 3 CARTITUDE-4 study and first-in-human data from the dual-targeted allogeneic CAR-T candidate, LUCAR-G39D, in oral presentations at ASH.

Moreover, six poster presentations also provided subgroup durability data and real-world outcomes with CARVYKTI®, further reinforcing its potential across earlier lines of therapy.

Long-term progression-free survival benefit with ciltacabtagene autoleucel in standard risk relapsed / refractory multiple myeloma (Abstract #94)

The Phase 3 CARTITUDE-4 study evaluated CARVYKTI® versus standard therapies of pomalidomide, bortezomib, and dexamethasone (PVd) or daratumumab, pomalidomide, and dexamethasone (DPd) in adults with RRMM who had received one to three prior lines of therapy, including a proteasome inhibitor (PI) and immunomodulatory agent (IMiD), and who were refractory to lenalidomide.

At a median follow-up of 33.6 months, intent-to-treat patients (N=208) with standard-risk cytogenetics in the CARVYKTI® arm (n=69) achieved a 30-month PFS rate of 71.0% (95% CI, 58.8–80.2) compared with 43.2% (95% CI, 31.3–54.5) in the standard-of-care arm (n=70). In the as-treated population (n=59), the 30-month PFS rate was 80.5% (95% CI, 67.2–88.8) for patients with standard-risk cytogenetics who received CARVYKTI® as study treatment.

Notably, all 26 patients who achieved minimal residual disease (MRD)-negative complete response at 12 months following CARVYKTI® infusion remained progression-free at 30 months.

“We are seeing deeper, more durable responses and long-term progression-free survival in patients with standard-risk disease, which underscores the value of early intervention with CAR-T therapy,” said Surbhi Sidana, M.D., Associate Professor of Medicine, Blood and Marrow Transplantation & Cellular Therapy at Stanford University School of Medicine.”‡

A phase 1 study of lucar-G39D: A novel anti-CD20/CD19 dual-CAR allogeneic gamma delta T cells in adults with relapsed / refractory B-cell non-Hodgkin lymphoma (NHL) (Abstract #266)

Early Phase 1 results for LUCAR-G39D (NCT06395870) demonstrated a manageable safety profile and encouraging antitumor activity in adults with relapsed or refractory B-cell non-Hodgkin lymphoma (NHL).

As of October 1, 2025, 16 patients were treated across five dose levels (DL) at a median follow-up of 6.1 months (range, 1.0 – 14.6). No dose-limiting toxicities, adverse event-related deaths, immune effector cell-associated neurotoxicity syndrome, tumor lysis syndrome, second primary malignancies, or graft-versus-host disease were reported. Serious adverse events occurred in 25% (4/16) of patients at DL4 and DL5. Cytokine release syndrome (CRS) occurred in 56.3% (9/16) of patients at DL2 to DL5, and all cases resolved. The overall response rate was 75% (12/16), including a complete response rate of 37.5% (6/16). The median time to best response was 2.9 months (range, 1.0 – 11.8), and 83.3% (10/12) of responders remained in remission at the time of data cut-off.

“The breadth of data presented at ASH highlights our continuous innovation in both commercial and next-generation CAR-T platforms,” said Ying Huang, Ph.D., Chief Executive Officer of Legend Biotech. “With a median progression-free survival of 50.4 months in triple-class-exposed patients with three prior lines of therapy, and even longer benefits seen with earlier use of CARVYKTI, our results demonstrate meaningful and durable responses. Our insights into immune-fitness, which emphasize that earlier intervention with CARVYKTI® drives deeper and lasting responses, as well as the encouraging preliminary data from our allogeneic program in B-cell non-Hodgkin lymphoma, support our vision for more effective, accessible cell therapies that improve patients’ lives.”

CARVYKTI® IMPORTANT SAFETY INFORMATION

WARNING: CYTOKINE RELEASE SYNDROME, NEUROLOGIC TOXICITIES, HLH/MAS, PROLONGED and RECURRENT CYTOPENIA, and SECONDARY HEMATOLOGICAL MALIGNANCIESCytokine Release Syndrome (CRS), including fatal or life-threatening reactions, occurred in patients following treatment with CARVYKTI®. Do not administer CARVYKTI® to patients with active infection or inflammatory disorders. Treat severe or life-threatening CRS with tocilizumab or tocilizumab and corticosteroids.

Immune Effector Cell-associated Neurotoxicity Syndrome (ICANS), which may be fatal or life-threatening, occurred following treatment with CARVYKTI®, including before CRS onset, concurrently with CRS, after CRS resolution, or in the absence of CRS. Monitor for neurologic events after treatment with CARVYKTI®. Provide supportive care and/or corticosteroids as needed.

Parkinsonism and Guillain-Barré syndrome (GBS) and their associated complications resulting in fatal or life-threatening reactions have occurred following treatment with CARVYKTI®.

Hemophagocytic Lymphohistiocytosis/Macrophage Activation Syndrome (HLH/MAS), including fatal and life-threatening reactions, occurred in patients following treatment with CARVYKTI®. HLH/MAS can occur with CRS or neurologic toxicities.

Prolonged and/or recurrent cytopenias with bleeding and infection and requirement for stem cell transplantation for hematopoietic recovery occurred following treatment with CARVYKTI®.

Immune Effector Cell-associated Enterocolitis (IEC-EC), including fatal or life-threatening reactions, occurred following treatment with CARVYKTI®.

Secondary hematological malignancies, including myelodysplastic syndrome and acute myeloid leukemia, have occurred in patients following treatment with CARVYKTI®. T-cell malignancies have occurred following treatment of hematologic malignancies with BCMA- and CD19-directed genetically modified autologous T-cell immunotherapies, including CARVYKTI®.

WARNINGS AND PRECAUTIONS

INCREASED EARLY MORTALITY - In CARTITUDE-4, a (1:1) randomized controlled trial, there was a numerically higher percentage of early deaths in patients randomized to the CARVYKTI® treatment arm compared to the control arm. Among patients with deaths occurring within the first 10 months from randomization, a greater proportion (29/208; 14%) occurred in the CARVYKTI® arm compared to (25/211; 12%) in the control arm. Of the 29 deaths that occurred in the CARVYKTI® arm within the first 10 months of randomization, 10 deaths occurred prior to CARVYKTI® infusion, and 19 deaths occurred after CARVYKTI® infusion. Of the 10 deaths that occurred prior to CARVYKTI® infusion, all occurred due to disease progression, and none occurred due to adverse events. Of the 19 deaths that occurred after CARVYKTI® infusion, 3 occurred due to disease progression, and 16 occurred due to adverse events. The most common adverse events were due to infection (n=12).

CYTOKINE RELEASE SYNDROME (CRS), including fatal or life-threatening reactions, occurred following treatment with CARVYKTI®. Among patients receiving CARVYKTI® for RRMM in the CARTITUDE-1 & -4 studies (N=285), CRS occurred in 84% (238/285), including ≥ Grade 3 CRS (ASTCT 2019) in 4% (11/285) of patients. Median time to onset of CRS, any grade, was 7 days (range: 1 to 23 days). CRS resolved in 82% with a median duration of 4 days (range: 1 to 97 days). The most common manifestations of CRS in all patients combined (≥10%) included fever (84%), hypotension (29%) and aspartate aminotransferase increased (11%). Serious events that may be associated with CRS include pyrexia, hemophagocytic lymphohistiocytosis, respiratory failure, disseminated intravascular coagulation, capillary leak syndrome, and supraventricular and ventricular tachycardia. CRS occurred in 78% of patients in CARTITUDE-4 (3% Grade 3 to 4) and in 95% of patients in CARTITUDE-1 (4% Grade 3 to 4).

Identify CRS based on clinical presentation. Evaluate for and treat other causes of fever, hypoxia, and hypotension. CRS has been reported to be associated with findings of HLH/MAS, and the physiology of the syndromes may overlap. HLH/MAS is a potentially life-threatening condition. In patients with progressive symptoms of CRS or refractory CRS despite treatment, evaluate for evidence of HLH/MAS.

Confirm that a minimum of 2 doses of tocilizumab are available prior to infusion of CARVYKTI®.

Of the 285 patients who received CARVYKTI® in clinical trials, 53% (150/285) patients received tocilizumab; 35% (100/285) received a single dose, while 18% (50/285) received more than 1 dose of tocilizumab. Overall, 14% (39/285) of patients received at least 1 dose of corticosteroids for treatment of CRS.

Monitor patients at least daily for 7 days following CARVYKTI® infusion for signs and symptoms of CRS. Monitor patients for signs or symptoms of CRS for at least 2 weeks after infusion. At the first sign of CRS, immediately institute treatment with supportive care, tocilizumab, or tocilizumab and corticosteroids.

Counsel patients to seek immediate medical attention should signs or symptoms of CRS occur at any time.

NEUROLOGIC TOXICITIES, which may be severe, life-threatening, or fatal, occurred following treatment with CARVYKTI®. Neurologic toxicities included ICANS, neurologic toxicity with signs and symptoms of Parkinsonism, GBS, immune mediated myelitis, peripheral neuropathies, and cranial nerve palsies. Counsel patients on the signs and symptoms of these neurologic toxicities, and on the delayed nature of onset of some of these toxicities. Instruct patients to seek immediate medical attention for further assessment and management if signs or symptoms of any of these neurologic toxicities occur at any time.

Among patients receiving CARVYKTI® in the CARTITUDE-1 & 4 studies for RRMM, one or more neurologic toxicities occurred in 24% (69/285), including ≥ Grade 3 cases in 7% (19/285) of patients. Median time to onset was 10 days (range: 1 to 101) with 63/69 (91%) of cases developing by 30 days. Neurologic toxicities resolved in 72% (50/69) of patients with a median duration to resolution of 23 days (range: 1 to 544). Of patients developing neurotoxicity, 96% (66/69) also developed CRS. Subtypes of neurologic toxicities included ICANS in 13%, peripheral neuropathy in 7%, cranial nerve palsy in 7%, parkinsonism in 3%, and immune mediated myelitis in 0.4% of the patients.

Immune Effector Cell-Associated Neurotoxicity Syndrome (ICANS): Patients receiving CARVYKTI® may experience fatal or life-threatening ICANS following treatment with CARVYKTI®, including before CRS onset, concurrently with CRS, after CRS resolution, or in the absence of CRS.

Among patients receiving CARVYKTI® in the CARTITUDE-1 & -4 studies, ICANS occurred in 13% (36/285), including Grade ≥3 in 2% (6/285) of the patients. Median time to onset of ICANS was 8 days (range: 1 to 28 days). ICANS resolved in 30 of 36 (83%) of patients, with a median time to resolution of 3 days (range: 1 to 143 days). Median duration of ICANS was 6 days (range: 1 to 1229 days) in all patients, including those with ongoing neurologic events at the time of death or data cutoff. Of patients with ICANS, 97% (35/36) had CRS. The onset of ICANS occurred during CRS in 69% of patients, before and after the onset of CRS in 14% of patients, respectively.

Immune Effector Cell-associated Neurotoxicity Syndrome occurred in 7% of patients in CARTITUDE-4 (0.5% Grade 3) and in 23% of patients in CARTITUDE-1 (3% Grade 3). The most frequent (≥2%) manifestations of ICANS included encephalopathy (12%), aphasia (4%), headache (3%), motor dysfunction (3%), ataxia (2%), and sleep disorder (2%).

Monitor patients at least daily for 7 days following CARVYKTI® infusion for signs and symptoms of ICANS. Rule out other causes of ICANS symptoms. Monitor patients for signs or symptoms of ICANS for at least 2 weeks after infusion and treat promptly. Neurologic toxicity should be managed with supportive care and/or corticosteroids as needed. Advise patients to avoid driving for at least 2 weeks following infusion.

Parkinsonism: Neurologic toxicity with parkinsonism has been reported in clinical trials of CARVYKTI®. Among patients receiving CARVYKTI® in the CARTITUDE-1 & -4 studies, parkinsonism occurred in 3% (8/285), including Grade ≥3 in 2% (5/285) of the patients. Median time to onset of parkinsonism was 56 days (range: 14 to 914 days). Parkinsonism resolved in 1 of 8 (13%) of patients with a median time to resolution of 523 days. Median duration of parkinsonism was 243.5 days (range: 62 to 720 days) in all patients, including those with ongoing neurologic events at the time of death or data cutoff. The onset of parkinsonism occurred after CRS for all patients and after ICANS for 6 patients.

Parkinsonism occurred in 1% of patients in CARTITUDE-4 (no Grade 3 to 4) and in 6% of patients in CARTITUDE-1 (4% Grade 3 to 4).

Manifestations of parkinsonism included movement disorders, cognitive impairment, and personality changes. Monitor patients for signs and symptoms of parkinsonism that may be delayed in onset and managed with supportive care measures. There is limited efficacy information with medications used for the treatment of Parkinson’s disease for the improvement or resolution of parkinsonism symptoms following CARVYKTI® treatment.

Guillain-Barré Syndrome: A fatal outcome following GBS occurred following treatment with CARVYKTI® despite treatment with intravenous immunoglobulins. Symptoms reported include those consistent with Miller-Fisher variant of GBS, encephalopathy, motor weakness, speech disturbances, and polyradiculoneuritis.

Monitor for GBS. Evaluate patients presenting with peripheral neuropathy for GBS. Consider treatment of GBS with supportive care measures and in conjunction with immunoglobulins and plasma exchange, depending on severity of GBS.

Immune Mediated Myelitis: Grade 3 myelitis occurred 25 days following treatment with CARVYKTI® in CARTITUDE-4 in a patient who received CARVYKTI® as subsequent therapy. Symptoms reported included hypoesthesia of the lower extremities and the lower abdomen with impaired sphincter control. Symptoms improved with the use of corticosteroids and intravenous immune globulin. Myelitis was ongoing at the time of death from other cause.

Peripheral Neuropathy occurred following treatment with CARVYKTI®. Among patients receiving CARVYKTI® in the CARTITUDE-1 & -4 studies, peripheral neuropathy occurred in 7% (21/285), including Grade ≥3 in 1% (3/285) of the patients. Median time to onset of peripheral neuropathy was 57 days (range: 1 to 914 days). Peripheral neuropathy resolved in 11 of 21 (52%) of patients with a median time to resolution of 58 days (range: 1 to 215 days). Median duration of peripheral neuropathy was 149.5 days (range: 1 to 692 days) in all patients, including those with ongoing neurologic events at the time of death or data cutoff.

Peripheral neuropathies occurred in 7% of patients in CARTITUDE-4 (0.5% Grade 3 to 4) and in 7% of patients in CARTITUDE-1 (2% Grade 3 to 4). Monitor patients for signs and symptoms of peripheral neuropathies. Patients who experience peripheral neuropathy may also experience cranial nerve palsies or GBS.

Cranial Nerve Palsies occurred following treatment with CARVYKTI®. Among patients receiving CARVYKTI® in the CARTITUDE-1 & -4 studies, cranial nerve palsies occurred in 7% (19/285), including Grade ≥3 in 1% (1/285) of the patients. Median time to onset of cranial nerve palsies was 21 days (range: 17 to 101 days). Cranial nerve palsies resolved in 17 of 19 (89%) of patients with a median time to resolution of 66 days (range: 1 to 209 days). Median duration of cranial nerve palsies was 70 days (range: 1 to 262 days) in all patients, including those with ongoing neurologic events at the time of death or data cutoff. Cranial nerve palsies occurred in 9% of patients in CARTITUDE-4 (1% Grade 3 to 4) and in 3% of patients in CARTITUDE-1 (1% Grade 3 to 4).

The most frequent cranial nerve affected was the 7th cranial nerve. Additionally, cranial nerves III, V, and VI have been reported to be affected.

Monitor patients for signs and symptoms of cranial nerve palsies. Consider management with systemic corticosteroids, depending on the severity and progression of signs and symptoms.

HEMOPHAGOCYTIC LYMPHOHISTIOCYTOSIS (HLH)/MACROPHAGE ACTIVATION SYNDROME (MAS): Among patients receiving CARVYKTI® in the CARTITUDE-1 & -4 studies, HLH/MAS occurred in 1% (3/285) of patients. All events of HLH/MAS had onset within 99 days of receiving CARVYKTI®, with a median onset of 10 days (range: 8 to 99 days), and all occurred in the setting of ongoing or worsening CRS. The manifestations of HLH/MAS included hyperferritinemia, hypotension, hypoxia with diffuse alveolar damage, coagulopathy and hemorrhage, cytopenia, and multi-organ dysfunction, including renal dysfunction and respiratory failure.

Patients who develop HLH/MAS have an increased risk of severe bleeding. Monitor hematologic parameters in patients with HLH/MAS and transfuse per institutional guidelines. Fatal cases of HLH/MAS occurred following treatment with CARVYKTI®.

HLH is a life-threatening condition with a high mortality rate if not recognized and treated early. Treatment of HLH/MAS should be administered per institutional standards.

PROLONGED AND RECURRENT CYTOPENIAS: Patients may exhibit prolonged and recurrent cytopenias following lymphodepleting chemotherapy and CARVYKTI® infusion.

Among patients receiving CARVYKTI® in the CARTITUDE-1 & -4 studies, Grade 3 or higher cytopenias not resolved by Day 30 following CARVYKTI® infusion occurred in 62% (176/285) of the patients and included thrombocytopenia 33% (94/285), neutropenia 27% (76/285), lymphopenia 24% (67/285), and anemia 2% (6/285). After Day 60 following CARVYKTI® infusion, 22%, 20%, 5%, and 6% of patients had a recurrence of Grade 3 or 4 lymphopenia, neutropenia, thrombocytopenia, and anemia, respectively, after initial recovery of their Grade 3 or 4 cytopenia. Seventy-seven percent (219/285) of patients had one, two, or three or more recurrences of Grade 3 or 4 cytopenias after initial recovery of Grade 3 or 4 cytopenia. Sixteen and 25 patients had Grade 3 or 4 neutropenia and thrombocytopenia, respectively, at the time of death.

Monitor blood counts prior to and after CARVYKTI® infusion. Manage cytopenias with growth factors and blood product transfusion support according to local institutional guidelines.

INFECTIONS: CARVYKTI® should not be administered to patients with active infection or inflammatory disorders. Severe, life-threatening, or fatal infections occurred in patients after CARVYKTI® infusion.

Among patients receiving CARVYKTI® in the CARTITUDE-1 & -4 studies, infections occurred in 57% (163/285), including Grade ≥3 in 24% (69/285) of patients. Grade 3 or 4 infections with an unspecified pathogen occurred in 12%, viral infections in 6%, bacterial infections in 5%, and fungal infections in 1% of patients. Overall, 5% (13/285) of patients had Grade 5 infections, 2.5% of which were due to COVID-19. Patients treated with CARVYKTI® had an increased rate of fatal COVID-19 infections compared to the standard therapy arm.

Monitor patients for signs and symptoms of infection before and after CARVYKTI® infusion and treat patients appropriately. Administer prophylactic, pre-emptive, and/or therapeutic antimicrobials according to the standard institutional guidelines. Febrile neutropenia was observed in 5% of patients after CARVYKTI® infusion and may be concurrent with CRS. In the event of febrile neutropenia, evaluate for infection and manage with broad-spectrum antibiotics, fluids, and other supportive care, as medically indicated. Counsel patients on the importance of prevention measures. Follow institutional guidelines for the vaccination and management of immunocompromised patients with COVID-19.

Viral Reactivation: Hepatitis B virus (HBV) reactivation, in some cases resulting in fulminant hepatitis, hepatic failure, and death, can occur in patients with hypogammaglobulinemia. Perform screening for Cytomegalovirus (CMV), HBV, hepatitis C virus (HCV), and human immunodeficiency virus (HIV) or any other infectious agents if clinically indicated in accordance with clinical guidelines before collection of cells for manufacturing. Consider antiviral therapy to prevent viral reactivation per local institutional guidelines/clinical practice.

Reactivation of John Cunningham (JC) virus, leading to progressive multifocal leukoencephalopathy (PML), including cases with fatal outcomes, have been reported following treatment. Perform appropriate diagnostic evaluations in patients with neurological adverse events.

HYPOGAMMAGLOBULINEMIA: can occur in patients receiving treatment with CARVYKTI®. Among patients receiving CARVYKTI® in the CARTITUDE-1 & -4 studies, hypogammaglobulinemia adverse event was reported in 36% (102/285) of patients; laboratory IgG levels fell below 500 mg/dL after infusion in 93% (265/285) of patients. Hypogammaglobulinemia either as an adverse reaction or laboratory IgG level below 500 mg/dL after infusion occurred in 94% (267/285) of patients treated. Fifty-six percent (161/285) of patients received intravenous immunoglobulin (IVIG) post CARVYKTI® for either an adverse reaction or prophylaxis.

Monitor immunoglobulin levels after treatment with CARVYKTI® and administer IVIG for IgG <400 mg/dL. Manage per local institutional guidelines, including infection precautions and antibiotic or antiviral prophylaxis.

Use of Live Vaccines: The safety of immunization with live viral vaccines during or following CARVYKTI® treatment has not been studied. Vaccination with live virus vaccines is not recommended for at least 6 weeks prior to the start of lymphodepleting chemotherapy, during CARVYKTI® treatment, and until immune recovery following treatment with CARVYKTI®.

HYPERSENSITIVITY REACTIONS occurred following treatment with CARVYKTI®. Among patients receiving CARVYKTI® in the CARTITUDE-1 & -4 studies, hypersensitivity reactions occurred in 5% (13/285), all of which were ≤2 Grade. Manifestations of hypersensitivity reactions included flushing, chest discomfort, tachycardia, wheezing, tremor, burning sensation, non-cardiac chest pain, and pyrexia.

Serious hypersensitivity reactions, including anaphylaxis, may be due to the dimethyl sulfoxide (DMSO) in CARVYKTI®. Patients should be carefully monitored for 2 hours after infusion for signs and symptoms of severe reaction. Treat promptly and manage patients appropriately according to the severity of the hypersensitivity reaction.

IMMUNE EFFECTOR CELL-ASSOCIATED ENTERCOLITIS (IEC-EC) has occurred in patients treated with CARVYKTI®. Manifestations include severe or prolonged diarrhea, abdominal pain, and weight loss requiring parenteral nutrition. IEC-EC has been associated with fatal outcome from perforation or sepsis. Manage according to institutional guidelines, including referral to gastroenterology and infectious disease specialists.

In cases of refractory IEC-EC, consider additional workup to exclude alternative etiologies, including T-cell lymphoma of the GI tract, which has been reported in the post marketing setting.

SECONDARY MALIGNANCIES: Patients treated with CARVYKTI® may develop secondary malignancies. Among patients receiving CARVYKTI® in the CARTITUDE-1 & -4 studies, myeloid neoplasms occurred in 5% (13/285) of patients (9 cases of myelodysplastic syndrome, 3 cases of acute myeloid leukemia, and 1 case of myelodysplastic syndrome followed by acute myeloid leukemia). The median time to onset of myeloid neoplasms was 447 days (range: 56 to 870 days) after treatment with CARVYKTI®. Ten of these 13 patients died following the development of myeloid neoplasms; 2 of the 13 cases of myeloid neoplasm occurred after initiation of subsequent antimyeloma therapy. Cases of myelodysplastic syndrome and acute myeloid leukemia have also been reported in the post marketing setting. T-cell malignancies have occurred following treatment of hematologic malignancies with BCMA- and CD19-directed genetically modified autologous T-cell immunotherapies, including CARVYKTI®. Mature T-cell malignancies, including CAR-positive tumors, may present as soon as weeks following infusions, and may include fatal outcomes.

Monitor lifelong for secondary malignancies. In the event that a secondary malignancy occurs, contact Janssen Biotech, Inc., at 1-800-526-7736 for reporting and to obtain instructions on collection of patient samples.

ADVERSE REACTIONS

The most common nonlaboratory adverse reactions (incidence greater than 20%) are pyrexia, cytokine release syndrome, hypogammaglobulinemia, hypotension, musculoskeletal pain, fatigue, infections-pathogen unspecified, cough, chills, diarrhea, nausea, encephalopathy, decreased appetite, upper respiratory tract infection, headache, tachycardia, dizziness, dyspnea, edema, viral infections, coagulopathy, constipation, and vomiting. The most common Grade 3 or 4 laboratory adverse reactions (incidence greater than or equal to 50%) include lymphopenia, neutropenia, white blood cell decreased, thrombocytopenia, and anemia.

Please read full Prescribing Information, including Boxed Warning, for CARVYKTI®.

ABOUT CARVYKTI® (CILTACABTAGENE AUTOLEUCEL; CILTA-CEL)

Ciltacabtagene autoleucel is a BCMA-directed, genetically modified autologous T-cell immunotherapy, which involves reprogramming a patient’s own T-cells with a transgene encoding a chimeric antigen receptor (CAR) that identifies and eliminates cells that express BCMA. The cilta-cel CAR protein features two BCMA-targeting single-domain antibodies designed to confer high avidity against human BCMA. Upon binding to BCMA-expressing cells, the CAR promotes T-cell activation, expansion, and elimination of target cells.i

In December 2017, Legend Biotech entered into an exclusive worldwide license and collaboration agreement with Janssen Biotech, Inc. (Janssen), a Johnson & Johnson company, to develop and commercialize cilta-cel. In February 2022, cilta-cel was approved by the U.S. Food and Drug Administration (FDA) under the brand name CARVYKTI® for the treatment of adults with relapsed or refractory multiple myeloma. In April 2024, cilta-cel was approved for the second-line treatment of patients with relapsed/refractory myeloma who have received at least one prior line of therapy, including a proteasome inhibitor, an immunomodulatory agent, and are refractory to lenalidomide.

In May 2022, the European Commission (EC) granted conditional marketing authorization of CARVYKTI® for the treatment of adults with relapsed and refractory multiple myeloma. In September 2022, Japan’s Ministry of Health, Labour and Welfare (MHLW) approved CARVYKTI®. Cilta-cel was granted Breakthrough Therapy Designation in the U.S. in December 2019 and in China in August 2020. In addition, cilta-cel received a PRIority MEdicines (PRIME) designation from the European Commission in April 2019. Cilta-cel also received Orphan Drug Designation from the U.S. FDA in February 2019, from the European Commission in February 2020, and from the Pharmaceuticals and Medicinal Devices Agency (PMDA) in Japan in June 2020. In March 2022, the European Medicines Agency’s Committee for Orphan Medicinal Products recommended by consensus that the orphan designation for cilta-cel be maintained on the basis of clinical data demonstrating improved and sustained complete response rates following treatment.
ABOUT CARTITUDE-4

CARTITUDE-4 (NCT04181827) is an ongoing, international, randomized, open-label Phase 3 study evaluating the efficacy and safety of cilta-cel versus pomalidomide, bortezomib and dexamethasone (PVd) or daratumumab, pomalidomide, and dexamethasone (DPd) in adult patients with relapsed and lenalidomide-refractory multiple myeloma who received one to three prior lines of therapy, including a PI and an IMiD.ii

ABOUT CARTITUDE-1

CARTITUDE-1 (NCT03548207) is a Phase 1b/2, open-label, multicenter study evaluating the safety and efficacy of cilta-cel in adults with relapsed and/or refractory with multiple myeloma who have received at least 3 prior lines of therapy or are double refractory to a PI and IMiD, received a PI, an IMiD, and anti-CD38 antibody and documented disease progression within 12 months of starting the most recent therapy. The primary objective of the Phase 1b portion of the study was to characterize the safety and confirm the recommended Phase 2 dose of cilta-cel, informed by the first-in-human study with LCAR-B38M CAR-T cells (LEGEND-2). The Phase 2 portion further evaluated the efficacy of cilta-cel with overall response rate as the primary endpoint.iii

ABOUT LUCAR-G39D

NCT06395870 is a Phase I, open-label clinical study to evaluate the safety, tolerability, and efficacy of LUCAR-G39D, a dual-targeted cell preparation targeting CD19/CD20, in patients with relapsed/refractory B-cell non-Hodgkin lymphoma.iv

About MULTIPLE MYELOMA

Multiple myeloma is an incurable blood cancer that starts in the bone marrow and is characterized by an excessive proliferation of plasma cells.v In 2024, it is estimated that more than 35,000 people will be diagnosed with multiple myeloma, and more than 12,000 people will die from the disease in the U.S.vi While some patients with multiple myeloma initially have no symptoms, most patients are diagnosed due to symptoms that can include bone problems, low blood counts, calcium elevation, kidney problems, or infections.vii 

About Legend Biotech
With over 2,900 employees, Legend Biotech is the largest standalone cell therapy company and a pioneer in treatments that change cancer care forever. Legend Biotech is at the forefront of the CAR-T cell therapy revolution with CARVYKTI®, a one-time treatment for relapsed or refractory multiple myeloma, which it develops and markets with collaborator Johnson & Johnson. Headquartered in the US, Legend Biotech is building an end-to-end cell therapy company by expanding its leadership to maximize CARVYKTI’s patient access and therapeutic potential. From this platform, Legend Biotech plans to drive future innovation across its pipeline of cutting-edge cell therapy modalities.

Learn more at www.legendbiotech.com, and follow us on X (formerly Twitter) and LinkedIn.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

Statements in this press release about future expectations, plans, and prospects, as well as any other statements regarding matters that are not historical facts, constitute “forward-looking statements” within the meaning of The Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to: statements relating to Legend Biotech’s strategies and objectives; statements relating to CARVYKTI® and LUCAR-G39D, including Legend Biotech’s expectations for CARVYKTI®, LUCAR-G39D and their therapeutic potential; statements related to the potential results from ongoing studies in the CARTITUDE and LUCAR-G39D clinical development programs; and the potential benefits of Legend Biotech’s product candidates. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors. Legend Biotech’s expectations could be affected by, among other things, uncertainties involved in the development of new pharmaceutical products; unexpected clinical trial results, including as a result of additional analysis of existing clinical data or unexpected new clinical data; unexpected regulatory actions or delays, including requests for additional safety and/or efficacy data or analysis of data, or government regulation generally; unexpected delays as a result of actions undertaken, or failures to act, by our third-party partners; uncertainties arising from challenges to Legend Biotech’s patent or other proprietary intellectual property protection, including the uncertainties involved in the U.S. litigation process; government, industry, and general product pricing and other political pressures; as well as the other factors discussed in the “Risk Factors” section of Legend Biotech’s Annual Report on Form 20-F filed with the Securities and Exchange Commission on March 11, 2025. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in this press release as anticipated, believed, estimated, or expected. Any forward-looking statements contained in this press release speak only as of the date of this press release. Legend Biotech specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events, or otherwise.

‡ Samir Parekh, M.D., Professor of Medicine (Hematology and Medical Oncology) and Oncological Sciences at the Icahn School of Medicine at Mount Sinai, has provided consulting and advisory services to Legend Biotech; he has not been paid for any media work.

‡ Surbhi Sidana, M.D., Associate Professor of Medicine, Blood and Marrow Transplantation & Cellular Therapy at Stanford University School of Medicine, has provided consulting and advisory services to Legend Biotech; she has not been paid for any media work.

INVESTOR CONTACT:
Jessie Yeung
Tel: (732) 956-8271
[email protected]

PRESS CONTACT:
Alexandra Ventura
Tel: (732) 850-5598
[email protected]

i CARVYKTI™ Prescribing Information. Horsham, PA: Janssen Biotech, Inc.
ii ClinicalTrials.Gov. A Study Comparing JNJ-68284528, a CAR-T Therapy Directed Against B-cell Maturation Antigen (BCMA), Versus Pomalidomide, Bortezomib and Dexamethasone (PVd) or Daratumumab, Pomalidomide and Dexamethasone (DPd) in Participants With Relapsed and Lenalidomide-Refractory Multiple Myeloma (CARTITUDE-4). https://www.clinicaltrials.gov/study/NCT04181827. Accessed March 2024.
iii ClinicalTrials.gov. A Study of JNJ-68284528, a Chimeric Antigen Receptor T Cell (CAR-T) Therapy Directed Against B-Cell Maturation Antigen (BCMA) in Participants With Relapsed or Refractory Multiple Myeloma (CARTITUDE-1). Available at: https://clinicaltrials.gov/ct2/show/NCT03548207 Accessed October 2022.
iv ClinicalTrials.gov. Targeting CD19/​CD20 Dual-targeted Cell in Patients With Relapsed/​Refractory B-cell Non-Hodgkin Lymphoma. Available at: https://clinicaltrials.gov/study/NCT06395870  Accessed November 2024.
v American Cancer Society. ”What is Multiple Myeloma?”. Available at: https://www.cancer.org/cancer/types/multiple-myeloma/about/what-is-multiple-myeloma.html. Accessed March 2024.
vi American Cancer Society. “Key Statistics About Multiple Myeloma.” Available at: https://www.cancer.org/cancer/types/multiple-myeloma/about/key-statistics.html. Accessed March 2024
vii American Cancer Society. Multiple myeloma: early detection, diagnosis, and staging. Available at: https://www.cancer.org/content/dam/CRC/PDF/Public/8740.00.pdf. Accessed March 2023.

REDWOOD CITY, Calif.--(BUSINESS WIRE)--Arcellx, Inc. (NASDAQ: ACLX), a biotechnology company reimagining cell therapy through the development of innovative immunotherapies for patients with cancer and other incurable diseases, today announced new positive data from its pivotal Phase 2 iMMagine-1 study of anitocabtagene autoleucel (anito-cel), in patients with relapsed or refractory multiple myeloma (RRMM). These data are being presented during an oral presentation at the 67th American Society o.

Aftermath Silver Ltd (TSX-V:AAG, OTCQX:AAGFF) CEO Ralph Rushton talked with Proactive about the company’s recent infill drilling program at its Berenguela silver-copper-manganese project in southern Peru, located near the town of Santa Lucia.

The program aimed to upgrade inferred resources to the measured and indicated category.

The drilling targeted four to five different areas, including clusters near the edges of the mineralized system and areas known to contain high copper intercepts on the eastern side.

The project benefits from strong infrastructure access, including road, rail, and power, and the mineralization is at surface, making it potentially open-pittable.

Rushton noted that the results of the drilling have been positive, supporting confidence in the project's continued development.

Proactive: All right. Welcome back inside our Proactive newsroom. And joining me now is Ralph Rushton. He is the CEO of Aftermath Silver. Ralph, good to see you again. How are you?

Ralph Rushton: I'm very well, thank you. How are you?

Good, good, good. So I know that the company is out with some significant news and updates on your resource. Tell us a little bit about the project itself and some of the work that's gone into this.

Yeah, the project is a silver-copper-manganese system in southern Peru near the town of Santa Lucia. It has all the infrastructure we need — road, rail, and power. It's at surface, so it's potentially open-pittable. So it’s a very interesting mineralized system. What we've been doing recently is infill drilling, earlier this year, with the objective of converting inferred resources into measured and indicated. And we've successfully done that, registering about a 28% increase in measured and indicated tonnes.

And this is only on one small portion of the property, correct?

Yeah. We had four or five different areas that we drilled. We had a few little clusters of holes within the system, a few around the edges of the mineralization, and a couple over to the eastern side of it, where we know we have some very high copper intercepts. So there was a variety of different objectives with the program, and all of it was carried off very successfully.

So you mentioned the next steps, now that you’ve done this particular work. There’s still a lot of work ahead here in 2026?

There is. The next step for us is shifting into a much more detailed engineering study. So we are actively considering that at the moment. We’ll be talking to engineering groups and looking for proposals on actually moving probably to a more detailed study — a PEA, perhaps along the lines of a PFS, a pre-feasibility study.

But after seeing what you've seen and the work that you've done, you're still pretty confident this is going to be a really good project moving forward?

Yeah, absolutely. And given the commodity price environment at the moment — silver was nearly at $60 this morning — it's all looking... the stars are aligned at the moment for that one.

Quotes have been lightly edited for style and clarity

Buying the right dividend stocks in December can set your portfolio up for 2026 gains.

You shouldn't buy a dividend stock just for its yield, but some companies combine attractive payouts with long-term tailwinds. One of the companies on this list will likely reach a $1 trillion valuation in 2026, while the other may achieve the same feat by 2030.

Strong revenue growth and long-term catalysts are two core themes for these stocks, but investors are more excited about what these stocks will turn into over the next five years. They are two of the best dividend stocks to buy in December.

Walmart is heading to a $1 trillion market cap

Image source: Getty Images.

Walmart (WMT +0.29%) is the world's largest retailer, and that comes with significant scaling and pricing advantages. Each store becomes the go-to place for groceries, toys, school supplies, and everything in between.

While some investors worried that Amazon (AMZN +0.18%) would hurt Walmart, the global retailer is making significant gains in e-commerce. The company's e-commerce segment grew by 27% year-over-year in the recent quarter,  with its physical locations continuing to play a major role.

Each Walmart store acts as a storage facility for e-commerce orders. Customers can pick up items from the store or have them delivered. Walmart's vast retail footprint is a significant advantage for its e-commerce operations, with one location within 10 miles of 90% of the U.S. population. This proximity makes Walmart one of the most convenient and affordable e-commerce options.

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Walmart doesn't have as many revenue streams as Amazon. It doesn't have cloud computing, streaming, or AI chips, but Walmart is growing its ad segment, which is critical for profit margin expansion. The retailer's global advertising sales surged by 53% year-over-year in the recent quarter.

Advertising is still a small part of the overall business, but Walmart's profit margins should surge as this segment grows. Walmart stock recently passed a $900 billion market cap, giving it a realistic shot of becoming a $1 trillion company in 2026, as that's an 11% jump.

Qualcomm's AI chips make the stock look like a bargain
Qualcomm (QCOM +0.26%) investors have watched other semiconductor stocks ride the AI wave. A five-year return just above 10% doesn't sound exciting when looking at stocks like Nvidia (NVDA 0.56%) and Advanced Micro Devices (AMD +0.92%).

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However, Qualcomm may soon have its time in the sun, much to the delight of patient investors. The company announced that it is working on its own AI chips, which can compete with Nvidia and AMD chips. AI chips are the hottest semiconductors right now, and Qualcomm's entry into the market can result in billions of additional dollars every quarter.

Qualcomm's AI200 chips are scheduled to go on sale in 2026, while its AI250 chips will be available in 2027. Tech giants have already shown a willingness to use AI chips from other brands instead of relying exclusively on Nvidia, so that bodes well for Qualcomm.

The release windows of Qualcomm's AI chips and parabolic spending in the industry suggest material financial gains are possible in 2026. The stock isn't pricing in that scenario yet, and it currently offers a 2% yield. That type of yield is hard to find for AI chipmakers, and chances are Qualcomm's yield won't be this high for long.

Qualcomm might be one of the last chances to get a high-yield AI growth stock. The tech giant has been producing chips for decades, and it's easy to see the company penetrating part of the AI chip market once its chips are available.

The chipmaker is still achieving respectable growth rates without AI chips. Revenue increased by 10% year-over-year in the fourth quarter of its fiscal 2025, with fiscal 2025 revenue as a whole up by 14% year-over-year. That's a good baseline leading into the launch of Qualcomm's AI chips.

Qualcomm's market cap is approaching $200 billion. If it becomes yet another AI chipmaker with a $1 trillion valuation -- and I think it could in the coming years -- the current price represents an opportunity.

Altria has a lofty 7.2% dividend yield, but the business backing the dividend may not be as reliable as you hope.

If you don't look under the hood, Altria (MO 0.60%) appears to be a very compelling investment. It operates in the consumer staples sector, it has a very large 7.2% yield, and the dividend has been increased regularly for years.

Before you jump on the stock, thinking you've set yourself up for a lifetime of reliable dividend income, lift up the covers and take a closer look at the business that backs the dividend.

Here's why you might not like what you see.

Image source: Getty Images.

Not your typical consumer staple item
Consumer staples companies produce products that are purchased regularly, regardless of the market or economic environment, and typically have a modest cost. Brand loyalty is often a significant factor in this space as well. All these factors work in favor of Altria's most important offering: Smokable tobacco products, such as cigarettes. Taken as a group, smokeable tobacco accounts for a huge 88% of the company's top line.

Most consumer staples products are necessity items, like food, toilet paper, and toothpaste. You most certainly need to buy these items regularly. Tobacco isn't a necessity. It is a consumer staple largely because of the addictive nature of nicotine, which keeps buyers coming back for more. Unlike makers of deodorant and similar products, tobacco stocks are really sin stocks. That's important because Altria's smokable products group has been in decline for years as cigarette smoking has increasingly fallen out of favor with consumers.

In the third quarter of 2025, volume in the business dropped 8%. Through the first nine months of the year, volume was off by 10.3%. In 2024, volumes declined 10%. In 2023, volumes fell 9.6%. That is a terrible trend that should be a warning sign to anyone who owns or is thinking about owning tobacco-focused Altria. Most investors would be running for the hills if this were a company that produced food.

The numbers add up, but only because of Altria's buybacks
Given that backdrop, it should come as little surprise that the top line of Altria's income statement fell 3% in Q3 2025, while it was down roughly 3.4% through the first nine months of the year. What might be confusing is that the company's adjusted earnings rose 3.6% and 5.9%, respectively, over those same time periods.

There are two things to monitor here. First, the volume decline didn't lead to as material a revenue decline as you might expect. That's because the addictive nature of nicotine has allowed Altria and its peers to jack up the price of their smokes on a regular basis. For a long time, the additional revenue from price hikes more than offset the effect from volume declines, but that is now ancient history. Price hikes now appear to be a part of the volume problem.

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The second issue to consider is earnings, which rose despite the drop on the top line. That was largely thanks to the company's stock buybacks. In Q3 2025, Altria repurchased 1.9 million shares, bringing the total to 12.3 million shares over the first nine months of the year. Year over year, the company's share count fell 1.4% in Q3 and 2.4% through the first three quarters.

To be fair, the company's cost-cutting efforts have also helped support the bottom line. However, the big-picture story remains the same. Altria's most significant business is under severe pressure, which is having an increasingly negative effect on the company's financial results. Since the volume decline in smokable products is unlikely to change direction, buying Altria is, effectively, buying a business that's in decline.

The future could be brighter than it seems today
Despite a lofty yield and strong dividend history, most conservative dividend investors will probably be better off avoiding Altria. In fact, if you buy Altria, you are really betting that management can milk the dying smokable tobacco business long enough to fund the buildout of divisions capable of offsetting the ongoing declines.

That might happen, but so far, Altria's efforts have been less than impressive, with failed efforts in vaping and marijuana that cost investors billions in write-offs. The risk-reward balance for this high-yield stock is currently tilted in the wrong direction for long-term investors.

December 06, 2025 2:25 PM EST | Source: The Rosen Law Firm PA
New York, New York--(Newsfile Corp. - December 6, 2025) - WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of CarMax, Inc. (NYSE: KMX) between June 20, 2025 and November 5, 2025, both dates inclusive (the "Class Period") of the important January 2, 2026 lead plaintiff deadline in the securities class action first filed by the Firm.

SO WHAT: If you purchased CarMax securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the CarMax class action, go to https://rosenlegal.com/submit-form/?case_id=47077 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than January 2, 2026. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved, at that time, the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner 90Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, defendants throughout the Class Period made materially false and/or misleading statements and/or failed to disclose that: (1) defendants recklessly overstated CarMax's growth prospects when, in reality, its earlier growth in the 2026 fiscal year was a temporary benefit from customers buying cars due to speculation regarding tariffs; and (2) as a result, defendants' statements about CarMax's business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the CarMax class action, go to https://rosenlegal.com/submit-form/?case_id=47077 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm or on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm.

Attorney Advertising. Prior results do not guarantee a similar outcome.

-------------------------------

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/277103

2025 was a tough year for this Vegas-focused gaming operator, but better times may lie ahead for "the house" in 2026.

Chances are you are aware of the "Vegas is dead" meme that has been widespread in media headlines throughout this year. This phenomenon, describing decreased tourism to what's known as Sin City, especially had an impact on gaming companies focused on the resort destination, such as Caesars Entertainment (CZR +1.31%).

Decreased visits to Vegas affected not just Caesars' bottom line; it had an even stronger impact on investor perceptions about the company's future. At least, that's the takeaway after the stock's nearly 30% drop since the start of the year.

However, as of late, Caesars' shares have been bouncing back on the heels of promising gaming revenue data. While a return to the stock's post-pandemic high-water mark may not be in the cards, this stock may have the potential to make a major comeback in the year ahead.

Image source: Getty Images.

Vegas slump counters other positives for Caesars in 2025
Whether you blame it on international tourists protesting the recent tariff hikes, or on American tourists shunning it for its high prices and perceived lack of value for money, the figures do not lie: So far in 2025, Las Vegas has attracted fewer visitors than it did in 2024.

Per the latest data from the Las Vegas Convention and Visitors Authority (LVCVA), during the 10-month period ending October 2024, visitor volume was down 7.6%, while convention attendance was down 0.6%, and revenue per available room (RevPAR) down by 8.7%.

Today's Change

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0.30

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$

23.24

Again, this was especially bad news for Caesars, which operates not just Caesars Palace in Las Vegas, but several other large casino resorts in the gaming destination. Around a third of the company's overall revenue comes from these Las Vegas properties. Worse yet, as seen last quarter, these properties experienced an even greater drop in revenue and profitability than you might think after first hearing the LVCVA figures.

During the nine months ending Sept. 30, 2025, Caesars' Las Vegas properties reported a 5.1% year-over-year (YoY) drop in revenue. Stronger results from its regional casinos and online gaming businesses help to make up for this top-line drop, but overall adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) for the company was down 4.2% during this time frame, with net losses increasing 16.6%, from $252 million to $289 million.

Keep an eye out for these two catalysts going into 2026
While the company may have experienced tough times in 2025, the coming year could prove much stronger for Caesars. After all, in October, the Las Vegas Strip's gross gaming revenue was up 8% from the prior year's month.

Only time will tell, but this could foreshadow stronger results in the quarters ahead. Outside a Las Vegas rebound, Caesars Entertainment may have another potential catalyst on its hands, with its digital segment. As Texas Capital analyst David Bain argued back in December, proceeds from an IPO of the gaming unit could generate billions in new capital that Caesars could use to pay down debt. A spinoff of the remaining interest could unlock tremendous value.

Regarding the performance of Caesars' shares in 2026, all bets are off. Continued macroeconomic uncertainties persist, clouding the near-term outlook. Still, while likely best to stay out of action with Caesars' shares right now, keep an eye out for these potential catalysts.

Quantum computing stocks have been all the rage over the past year, driving some astronomical returns for investors who had the foresight to buy these stocks at low prices. One quantum stock, Rigetti Computing (RGTI 6.49%), is trading up 667% in the past year (as of Dec. 3), and that's after dropping 57% since hitting all-time highs in October.

Some investors believe that quantum computers, which are expected to possess significantly more computing power than what's currently available in today's market, will one day be commercialized and replace traditional computers in many households and companies.

Image source: Getty Images.

While the potential for quantum computing is significant, many pure-play quantum stocks, such as Rigetti, remain high-risk, primarily because they trade at multibillion-dollar market caps and have very little revenue. That's why I would forget about Rigetti and invest in this safer quantum stock instead.

A more diverse business brings added safety
The iconic software and consulting company IBM (IBM 0.02%) has long been a staple in the stock market. The company was launched in 1911 and became a major player in the development of traditional computers, although it has since undergone numerous pivots.

One area it is currently focusing on is quantum computing, and many believe it is a leader in this burgeoning space. The company recently unveiled its latest and most advanced quantum system, called the IBM Nighthawk, which features 120 qubits interconnected by 218 next-generation tunable couplers. Quantum computers leverage qubits to process potential solutions to problems simultaneously. This makes them much more powerful than traditional computers, which rely on bits, the smallest unit of digital information that processes information sequentially.

Today's Change

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-0.02

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-0.05

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Furthermore, IBM's Quantum Chief Technology Officer Scott Crowder said that by 2029, the company expects to produce quantum computers at scale that people can use to solve problems that traditional computers can't solve today.

Now, unless you really are an expert on quantum mechanics, I think it's hard to say with any real certainty whether quantum computers can be commercialized and how powerful they will actually be.

The good news is IBM is not just a quantum company. The company has invested significantly in generative artificial intelligence with services like Watsonx, which helps companies integrate AI tools into their core workflows. IBM also offers cloud consulting services. Investors have seen the company's transformation and rewarded the stock, driving it up by over 37% this year.

IBM generates tens of billions of dollars in revenue, almost all of which is from its software, consulting, and hardware business lines. This means investors can buy a solid technology company set to benefit from AI, essentially with a call option on quantum if it proves successful.

The micro nuclear reactor start-up is trading along with the nuclear and artificial intelligence (AI) theme.

Shares of Nano Nuclear Energy (NNE 2.21%) stock slipped 31.2% last month, according to data from S&P Global Market Intelligence. As start-up aiming to develop portable micro nuclear reactors, the stock has soared close to 700% since going public on the back of the artificial intelligence (AI) and nuclear energy trade. In November, these themes went in reverse, knocking down virtually every stock in the sector -- including Nano Nuclear Energy -- along with it.

Here's why Nano Nuclear Energy stock fell last month, and whether it is a buy today.

Today's Change

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Current Price

$

35.76

A micro nuclear reactor company (in theory)
Nano Nuclear Energy is aiming to solve one of the existing problems with nuclear power: the cost per reactor. Existing designs are massive -- and while they are perfect for large-scale utilities -- they need loads of upfront financing and can take a decade to build. As its name implies, Nano Nuclear is designing smaller reactors that can be used for niche purposes, such as an AI datacenter.

This logic has sent Nano Nuclear stock into the stratosphere. When this trade began to unwind last month, Nano Nuclear stock fell along with the rest of the AI and nuclear energy sectors. There's not much else to it.

It had nothing to do with Nano Nuclear's financial performance, as there is none. It has never generated any revenue. In fact, it does not have a working design approved by the Nuclear Regulatory Commission (NRC), meaning it cannot legally build a reactor right now, and may not be able to for years.

Image source: Getty Images.

The truth about Nano Nuclear Energy
Management for Nano Nuclear talks big, but has no proven working reactor. It is burning tens of millions in free cash flow every year, and has had to heavily dilute shareholders through common stock offerings in order to shore up its balance sheet.

This is a company with an unproven technology, rising share count, heavy cash burn, and no path to a working business model. Despite this recent pullback, Nano Nuclear Energy stock looks like a stock investors should avoid buying, no matter how low the share price falls from here.

Brett Schafer has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

The new year should be a happier one for this beleaguered healthcare giant.

It's inaccurate to call the largest health insurer in the country and the fourth-largest healthcare company by market cap an underdog. However, UnitedHealth Group (UNH 0.77%) looked more like an underdog in 2025 than it has in quite a while.

Shares of the healthcare giant are still down more than 30% year to date, after plunging as much as 53% at one point. Should investors avoid this beaten-down stock? Nope. I predict that UnitedHealth Group stock will soar in 2026.

Image source: Getty Images.

A year to forget
Admittedly, 2025 is a year that most UnitedHealth Group shareholders will probably want to forget. The health insurance stock could have been a poster child for Murphy's Law: Nearly everything that could go wrong did go wrong.

UnitedHealth Group lowered its 2025 full-year earnings guidance in April. The company highlighted two primary culprits: higher-than-expected utilization in its Medicare Advantage plans and "unanticipated changes in the profile of Optum Health members impacting planned 2025 reimbursement."

The situation worsened less than a month later. UnitedHealth suspended its 2025 outlook altogether due to medical costs rising significantly more than anticipated. CEO Andrew Witty also unexpectedly left the company "for personal reasons."

To add insult to injury, The Wall Street Journal reported that UnitedHealth was the subject of a U.S. Department of Justice criminal investigation. Although the DOJ had not contacted the company at that point, the reports ultimately proved to be accurate.

Today's Change

(

-0.77

%) $

-2.58

Current Price

$

330.91

Brighter days ahead
With all of this bad news, why do I think UnitedHealth Group stock will soar in 2026? I believe that the issues plaguing UnitedHealth are only temporary in nature.

Health insurers have an easy solution when medical costs exceed their projections: increase premiums. That's precisely what UnitedHealth is doing. Stephen Hemsley, who returned to run the company following Witty's exit last year after previously serving as CEO from 2006 to 2017, said in the third-quarter earnings call, "Repricing within UnitedHealthcare is on track to drive solid operating earnings growth from margin improvement within that business in 2026."

Granted, the challenges for Optum can't be addressed as quickly. Hemsley acknowledged this in the Q3 call, stating that initiatives to turn things around within the segment "will show more measured progress in 2026 and will take more time to fully bear fruit."

Still, I fully expect UnitedHealth will deliver solid earnings growth next year. As earnings go, so go share prices (eventually, anyway).

Investors are also forward-looking. They will look for UnitedHealth's earnings growth to further accelerate in 2027 and beyond. I think that's a reasonable assumption. Importantly, the company doesn't necessarily have to deliver this higher growth before the stock moves in anticipation of it.

What about the DOJ investigation? I doubt that it will be resolved by the end of next year. This process may take some time to complete. UnitedHealth Group has previously endured a civil investigation by the DOJ, which took a decade to conclude.

The good news, though, is that a Special Master appointed by the court in that case didn't find any evidence of wrongdoing by the company. Even if UnitedHealth doesn't have as positive an outcome with the current DOJ investigation, it could still emerge relatively unscathed.

Why my prediction might not happen
Making predictions is a risky business. There's always a chance you could be wrong. I'll readily admit that my prediction about UnitedHealth Group stock soaring next year may not come to pass.

If the stock doesn't enjoy strong momentum, I suspect it could be due to one reason. I'm confident that UnitedHealth's earnings will grow in 2026. However, the growth may not be sufficient to capture investors' attention if the current bull market continues to roar. In such an environment, UnitedHealth may not look as attractive compared to higher-growth stocks.

On the other hand, a market downturn could actually work to UnitedHealth's advantage. Investors could view the company's stability and improving bottom line more favorably. Whatever happens, I don't think anyone will see UnitedHealth Group as an underdog in 2026.

Over the previous three years, Nvidia's (NVDA 0.56%) stock price performance has been nothing short of explosive -- and this isn't because of speculation.

The company is selling its cutting-edge graphics processing units (GPUs) almost as fast as it can get them made. And demand shows no signs of letting up, as big tech companies continue to pour billions into the generative artificial intelligence (AI) opportunity.

But past performance doesn't guarantee future results in the stock market. And many investors are left wondering if Nvidia's $4.4 trillion market cap can keep growing long term.

Let's discuss the pros and cons of the stock to figure out what the future may hold.

Image source: Getty Images.

Third-quarter earnings were another blowout
With its market cap of $4.4 trillion, Nvidia is the largest company in the world. That said, it is still growing at such a massive clip that it resembles a start-up. Third-quarter earnings highlight the company's impressive business momentum. Sales jumped 62% year over year to $57 billion, driven by the data center segment, where the company sells its most advanced GPUs, such as Blackwell for training and running AI algorithms.

Management aims to maintain momentum through constant updates. And in September, they revealed a next-generation GPU called Rubin, designed to handle the complexities of AI video generation with more speed and efficiency. This new product is expected to be available at the end of 2026 and may help spark another leg of growth in 2027 and 2028.

Nvidia has a powerful economic moat because it has integrated its hardware with a software and programming solution called CUDA, designed to help it reach its maximum potential. Many organizations and developers are already familiar with CUDA, making it costly and difficult to switch to alternatives, even if they catch up on raw technical stats.

Nvidia leverages this advantage to deliver an impressive gross margin of 73.4% in the third quarter, which is incredibly high for a software company. By contrast, enterprise software giant Microsoft has a gross margin of around 69% despite not usually selling physical products.

High margins usually mean fat profits. And Nvidia's third-quarter net income jumped 65% to $31.9 billion, generating plenty of cash that will likely be returned to investors through share repurchases.

Today's Change

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-0.56

%) $

-1.03

Current Price

$

182.35

How much longer can this last?
On the surface, Nvidia seems to be the almost perfect growth stock. It operates in a cutting-edge and fast-growing industry, while its deep economic moat gives it a commanding market share and impressive profitability. But there are some risks investors should keep in mind.

For starters, generative AI is expensive. One ChatGPT query uses as much energy as 10 Google searches. And Nvidia isn't helping the cost and sustainability situation by selling its hardware for such huge markups.

The result is that industry leaders like ChatGPT are burning through boatloads of money with their consumer-facing large language models (LLMs). The start-up is estimated to have lost around $11.5 billion in the last quarter alone. And these losses call into question the sustainability of AI hardware demand while giving large Nvidia clients like OpenAI an incentive to pivot to cheaper alternatives to run their businesses.

OpenAI has started developing its own custom AI chip in partnership with the fabrication company Broadcom, which it plans to use internally. Custom chips allow a company to bypass the high prices of Nvidia's general-purpose hardware while also saving on operating costs, since they are designed for efficiency in specific workloads. Other major Nvidia clients, such as Google and Amazon, are also investing in custom chips, so this could become a significant challenge in the coming years.

Is Nvidia a buy?
From a fundamental perspective, Nvidia still looks like a winner over the next three years and beyond. Business is booming. And with a forward price-to-earnings (P/E) multiple of just 23, the stock is actually cheaper than the Nasdaq-100's average estimate of 26. That said, sometimes the numbers don't tell the whole story. Generative AI is still highly speculative and loss-making, which means demand for Nvidia's chips might not remain at these levels forever. Investors may want to look for more diversified ways to bet on the industry.

Will Ebiefung has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Amazon, Microsoft, and Nvidia. The Motley Fool recommends the following options: long January 2026 $395 calls on Microsoft and short January 2026 $405 calls on Microsoft. The Motley Fool has a disclosure policy.

COLUMBUS, Ohio--(BUSINESS WIRE)--Worthington Steel, Inc. (NYSE: WS) today issued the following statement: We confirm that we are in negotiations with Klöckner & Co SE about a potential voluntary public takeover offer of Klöckner & Co SE. No investment decision has been made now and the discussions may not result in a transaction. The Company does not intend to comment further. About Worthington Steel Worthington Steel (NYSE:WS) is a metals processor that partners with customers to deliv.

About Emily Jarvie
Emily began her career as a political journalist for Australian Community Media in Hobart, Tasmania. After she relocated to Toronto, Canada, she reported on business, legal, and scientific developments in the emerging psychedelics sector before joining Proactive in 2022. She brings a strong journalism background with her work featured in newspapers, magazines, and digital publications across Australia, Europe, and North America, including The Examiner, The Advocate, The Canberra Times, and... Read more

About the publisher
Proactive financial news and online broadcast teams provide fast, accessible, informative and actionable business and finance news content to a global investment audience. All our content is produced independently by our experienced and qualified teams of news journalists.

Proactive news team spans the world’s key finance and investing hubs with bureaus and studios in London, New York, Toronto, Vancouver, Sydney and Perth.

We are experts in medium and small-cap markets, we also keep our community up to date with blue-chip companies, commodities and broader investment stories. This is content that excites and engages motivated private investors.

The team delivers news and unique insights across the market including but not confined to: biotech and pharma, mining and natural resources, battery metals, oil and gas, crypto and emerging digital and EV technologies.

Use of technology
Proactive has always been a forward looking and enthusiastic technology adopter.

Our human content creators are equipped with many decades of valuable expertise and experience. The team also has access to and use technologies to assist and enhance workflows.

Proactive will on occasion use automation and software tools, including generative AI. Nevertheless, all content published by Proactive is edited and authored by humans, in line with best practice in regard to content production and search engine optimisation.

ATLANTA, GA AND DOHA, QATAR / ACCESS Newswire / December 6, 2025 / Ameerex Corporation (OTC:HIRU) ("Ameerex" or the "Company"), a natural-resources group owned and managed by high-profile Qatari investors, announces that it has signed a Memorandum of Understanding (MOU) to acquire a 100% interest in the Corcoran Canyon Silver-Gold Project in Nye County, Nevada.

The NI 43-101 Technical Report for Corcoran Canyon outlines a substantial Inferred Mineral Resource totaling approximately 45.6 million silver-equivalent ounces (AgEq), comprising:

~39.0M AgEq ounces pit-constrained

~6.66M AgEq ounces underground

The deposit is a low-sulfidation epithermal silver-gold system supported by extensive historical drilling, metallurgical work, and clear structural controls. Historic flotation and cyanidation tests demonstrated strong recoveries, supporting the potential for future development.

Geological Framework and Growth Potential

The Project covers a well-mineralized trend with several targets identified for expansion:

West Target - elevated gold and silver indicators

Intrusion Target - interpreted feeder-style mineralization

Pediment Target - untested structural intersections with depth potential

These zones provide multiple opportunities for staged resource growth beyond the existing 45.6M AgEq ounces.

Strategic Relevance to Ameerex

The Corcoran Canyon MoU reinforces Ameerex's strategy to build a diversified portfolio in precious and strategic metals across Tier-1 jurisdictions. Following the execution of definitive agreements, Ameerex plans to advance the Project through updated geological modelling, targeted confirmation drilling, metallurgical optimization, and preliminary economic assessments.

Lithium Portfolio Update - Disclosure Expected by next week

Ameerex confirms that it is in the final structuring phase of a multi-asset lithium transaction in Argentina and Brazil.

The Company expects to release full details next week, upon completion of final documentation with its partners.

This upcoming disclosure aligns with Ameerex's broader vision to expand into energy-transition minerals alongside its precious-metals platform.

Existing Strategic Metals Platform

Corcoran Canyon will complement Ameerex's long-life Balfour Nickel-Copper-Cobalt Project in Western Australia, which remains a cornerstone asset already owned by the Company.

Management Commentary

Chairman & CEO, Khalid Nasser A.S. Al-Thaniof Ameerex Corporation, stated: "The MOU for Corcoran Canyon represents a significant addition to our precious-metals portfolio. With 45.6 million silver-equivalent ounces defined and multiple targets for expansion, the Project aligns with our long-term strategy of building a diversified and high-quality metals platform. We look forward to announcing the details of our South American lithium transaction by next week."

ABOUT AMEEREX CORPORATION

Ameerex Corporation (OTC:HIRU) is a diversified natural-resources company owned and managed by high-profile Qatari investors, with a portfolio spanning precious metals, critical energy-transition minerals, and select oil & gas interests.

Ameerex's assets include the Balfour Nickel-Copper-Cobalt Project in Western Australia, the Corcoran Canyon Silver-Gold Project in Nevada under MOU, and a forthcoming lithium transaction in Argentina and Brazil. The Company focuses on disciplined expansion, technical excellence, and long-term value creation across multiple commodity cycles.

Investor Relations

Ameerex Corporation - Doha, Qatar

3379 Peachtree Road NE, Suite 700
Atlanta, GA 30326
Email: [email protected]
Phone: +1 775-312-2773

Corporate Communications
https://x.com/thehirucorp

OTC Markets

https://www.otcmarkets.com/stock/HIRU

SOURCE: Hiru Corp.

SAN FRANCISCO, Dec. 06, 2025 (GLOBE NEWSWIRE) -- Global plaintiffs’ rights law firm Hagens Berman reminds investors of the December 8, 2025, deadline to move the Court for appointment as lead plaintiff in the securities class action lawsuit filed against aTyr Pharma, Inc. (NASDAQ: ATYR). The litigation follows a catastrophic 83% single-day stock collapse after the company’s flagship drug trial failed to meet its primary endpoint.

The lawsuit alleges that aTyr and its executives provided materially false and misleading information about the efficacy of its drug, Efzofitimod, leading investors to purchase stock at artificially inflated prices.

“In biotech securities cases, the core issue is often whether the company was accurately representing its data and trial design,” said Reed Kathrein, the Hagens Berman partner leading the litigation. “The suit alleges that aTyr concealed material adverse facts concerning Efzofitimod’s capability to allow a patient to completely taper their steroid usage—a key measure of efficacy—while emphasizing a multi-billion-dollar market. We are scrutinizing whether these prior statements about the drug’s prospects crossed the line into securities law violations. The firm urges investors in aTyr who suffered significant losses to submit your losses now.”

Legal Analysis: The Clinical Trial Disclosure Gap

Hagens Berman’s investigation and the underlying complaint focus on the alleged gap between the company's optimistic public statements and the undisclosed reality of the drug's performance in the Phase 3 EFZO-FIT study.

Key Trial MetricAllegation & DisclosureLegal Focus for InvestorsPrimary EndpointFailed to meet the primary endpoint: change from baseline in mean daily oral corticosteroid (OCS) dose.Whether the company misrepresented the drug’s true ability to help patients reduce steroid dependency.Efficacy ConcealmentAllegedly concealed adverse facts about the drug’s capability to allow a patient to completely taper off steroids, a core measure of success.Whether optimistic pronouncements about the drug were misleading given the alleged deficiencies in performance or trial design.Market ImpactStock fell from $6.03 to $1.02 (83.2% loss) on September 15, 2025.Whether investors are entitled to damages resulting from the defendants’ alleged wrongful acts and omissions. Next Steps: Contact Hagens Berman Today

Hagens Berman has a proven track record of securing more than $2.9 billion in settlements for investors in this area of law.

The firm is advising investors who purchased ATYR shares during the Class Period (November 7, 2024, through September 12, 2025) and suffered substantial losses due to the undisclosed trial flaws. The Lead Plaintiff Deadline is December 8, 2025.

TO SUBMIT YOUR ATYR STOCK LOSSES NOW, PLEASE USE THE SECURE FORM BELOW:

Submit your aTyr Pharma (ATYR) Stock LossesContact: Reed Kathrein at 844-916-0895 or email [email protected] Investors may also read more about the investigation here: The Stakes of Clinical Trials: Why Pharma Companies Must Be Accurate and How it Relates to the aTyr Investigation. Or visit the case page here: www.hbsslaw.com/investor-fraud/atyr

If you’d like answers to frequently asked questions about the aTyr case and our investigation, read more »

Whistleblowers: Persons with non-public information regarding aTyr should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email [email protected].

About Hagens Berman
Hagens Berman is a global plaintiffs’ rights complex litigation firm focusing on corporate accountability. The firm is home to a robust practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and other wrongdoings. Hagens Berman’s team has secured more than $2.9 billion in this area of law. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw. 

Contact:
Reed Kathrein, 844-916-0895

SAN FRANCISCO, Dec. 06, 2025 (GLOBE NEWSWIRE) -- Global plaintiffs’ rights law firm Hagens Berman reminds investors that the deadline to move the Court for appointment as lead plaintiff in the securities class action lawsuit against MoonLake Immunotherapeutics, Inc. (NASDAQ: MLTX) is December 15, 2025.

“In specialized biotech cases, the core legal question is often whether the company’s claims about the study match the reality of the clinical data it was receiving,” said Reed Kathrein, the Hagens Berman partner leading the litigation. “The suit alleges that MoonLake concealed material adverse facts concerning SLK’s true clinical performance and its ability to differentiate itself from competitors like BIMZELX. We are scrutinizing whether the failure of the Nanobody structure to provide superior efficacy was misrepresented to investors. The firm urges investors in MoonLake who suffered significant losses to contact the firm now.”

Legal Analysis: The Nanobody-Efficacy Disclosure Gap

The lawsuit focuses on the alleged gap between MoonLake's optimistic public statements and the undisclosed reality of SLK’s performance in the Phase 3 VELA trials. Hagens Berman is examining the lack of competitive distinction that led to the stock’s massive collapse:

Scientific & Trial FailureAllegation & DisclosureLegal Focus for InvestorsAlleged Molecular Target DeceptionThe company allegedly failed to disclose that SLK and the FDA-approved competitor, BIMZELX (a traditional monoclonal antibody), share the exact same molecular targets (interleukin-17, or IL-17).Whether the company misrepresented SLK’s true competitive positioning and market viability.Nanobody SuperiorityMoonLake alleged misrepresented that SLK’s distinct Nanobody structure would translate into superior clinical efficacy (e.g., higher clinical responses, or HiSCR75) for treating hidradenitis suppurativa (HS).Whether the company failed to disclose that the Nanobody did not confer a meaningful clinical advantage in the highly-anticipated VELA trials.Financial LossStock fell from $61.99 to $6.24 (a 90% loss) on September 29, 2025.Whether investors are entitled to damages resulting from the defendants’ alleged wrongful acts and omissions during the Class Period. Next Steps: Contact Lead Partner Reed Kathrein Today

Hagens Berman has a proven track record of securing more than $2.9 billion in settlements for investors in this area of law.

Mr. Kathrein is actively advising investors who purchased MLTX shares during the Class Period (March 10, 2024, through September 29, 2025) and suffered substantial losses due to the alleged undisclosed trial flaws.

The Lead Plaintiff Deadline is December 15, 2025.

TO SUBMIT YOUR MOONLAKE (MLTX) STOCK LOSSES AND DISCUSS THE NANOBODY EFFICACY ALLEGATIONS, PLEASE USE THE SECURE FORM BELOW:

Submit your MoonLake (MLTX) losses nowContact: Reed Kathrein at 844-916-0895 or email [email protected] If you’d like more information and answers to frequently asked questions about the MoonLake case and our investigation, read more »

Whistleblowers: Persons with non-public information regarding MoonLake should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email [email protected].

About Hagens Berman
Hagens Berman is a global plaintiffs’ rights complex litigation firm focusing on corporate accountability. The firm is home to a robust practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and other wrongdoings. Hagens Berman’s team has secured more than $2.9 billion in this area of law. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw. 

Contact:
Reed Kathrein, 844-916-0895

Shares of both consumer-facing businesses have been under immense pressure.

Sirius XM (SIRI +2.06%) has gotten a lot of attention this year. That's primarily because Warren Buffett-led Berkshire Hathaway is a large investor, owning 37% of the satellite radio operator's outstanding shares. But the stock has been wildly disappointing, down 66% in the past three years (as of Dec. 3).

Then there's Lululemon Athletica (LULU +3.49%). The leader in athleisure apparel was a high-flying stock not too long ago. However, it's also under pressure, and shares trade 64% below their peak.

Investors are looking at some potential buy-the-dip opportunities here. Which of these stocks is the better one to buy right now? The answer is as clear as day.

Image source: Getty Images.

It's difficult to be bullish on Sirius XM
When the Oracle of Omaha's conglomerate has a stake in a business, it's typically a good idea for the average investor to take a closer look. For what it's worth, though, investors might only find one obvious reason to like Sirius XM. And that's the valuation. The shares are dirt cheap right now. Investors can scoop up the stock at a bargain forward price-to-earnings (P/E) ratio of 6.9.

Consequently, the dividend also looks appealing. The current dividend yield of 5.09% provides a nice income stream for investors who appreciate that sort of thing.

I believe that's where the bullish argument comes to an end. Sirius XM appears to be a dying business, or at least one that's on the wrong side of technological change. Popular streaming platforms are all the rage, and they provide a better customer value proposition.

And while the company generated 75% of its revenue in Q3 from subscriptions, the Sirius XM self-pay subscriber base has declined in eight of the last 11 quarters. Revenue also fell last quarter. That's definitely not an encouraging sign.

Lululemon is the best stock to buy today

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Like Sirius XM, Lululemon shares also trade at a low valuation. The current forward P/E multiple of 13.6 is 38% cheaper than the overall S&P 500. And it's a clear indication of how much the market has soured on the athleisure pioneer.

Lululemon certainly hit a rough patch. Competition in this industry is always fierce, requiring the leadership team to constantly innovate with new products to drive customer excitement. CEO Calvin McDonald admitted that Lululemon hasn't been the best lately in this regard.

This hasn't helped things in the critical U.S. market. Sales here were flat in Q2 2025 (ended Aug. 3) compared to the year-ago period. Tariffs have created a headwind, increasing costs and pressuring profits.

However, Lululemon still possesses a strong brand in the industry, which supports its competitive position. Shoppers have come to know the business for its high-quality and premium merchandise. And this affords Lululemon some pricing power, as evidenced by its robust gross margin.

Once consumer confidence bounces back in the U.S., Lululemon should see demand pick up. Management hopes that a fresher product lineup can keep customers coming back.

In the meantime, the business can lean on China to drive growth. Revenue here jumped 25% year over year in the second quarter. And Lululemon is opening lots of stores in the country to capture what it believes is a meaningful opportunity.

Lululemon's profit trajectory is encouraging as well, which should have a direct impact on how the stock fares. Net income grew 180% between fiscal 2019 and fiscal 2024. While the near term could pose some challenges, Lululemon's bottom line could get back to solid gains in the future.

Between Sirius XM and Lululemon, the better stock to own over the next five years is clear. Investors should avoid the former and put their money in the latter. Lululemon is in a position to produce a much better result. But it will require a bit of patience for things to play out.

Tesla (NASDAQ: TSLA) stock is entering a technical and fundamental setup increasingly viewed as a precursor to an aggressive upside move, with several indicators aligning at once.

The optimism comes as Tesla continues to trade above the $450 mark. At the close of the last trading session, TSLA finished at $455, up about 1% on the day, and has rallied nearly 20% year-to-date.

TSLA YTD stock price chart. Source: Finbold
According to insights from charting platform TrendSpider in a December 6 X post, the stock has pushed back to the top of its long-running weekly range.

Tesla has reclaimed the rising weekly trendline that has supported every major rebound since early 2025. The latest surge has carried shares directly into a heavy supply zone in the mid-$450s, an area that previously triggered two sharp reversals.

TSLA stock price analysis chart. Source: TrendSpider
This time, however, the price is approaching the zone with stronger momentum and growing participation.

Tesla’s volume profile shows a thinning zone above current levels, suggesting limited overhead resistance if the stock breaks through the marked band. 

Historically, similar setups have produced fast, extended rallies. The latest pullback held higher lows, keeping the uptrend intact, while the stock’s quick recoveries signal firm demand. Additionally, months of declining volume often precede volatility surges as price approaches major resistance.

Tesla stock fundamentals 
Beyond technicals, several fundamental factors are reinforcing the bullish tone. Investors are watching for signs of stabilization in Tesla’s delivery trajectory as tax-credit distortions fade.

In Q3 2025, Tesla delivered a record 497,099 vehicles, produced roughly 447,000, and deployed 12.5 GWh of energy storage, the highest deliveries and energy deployments in its history.

Revenue reached $28.1 billion (up 12% year-over-year), free cash flow hit a record $4.0 billion, and cash and investments totaled more than $41 billion at quarter-end. Margins, however, remained under pressure, with GAAP operating income down about 40% year-over-year and EPS at $0.50, slightly missing estimates.

The company’s services and energy divisions, particularly Supercharging and Megapack, have been contributing a growing share of gross profit, improving earnings quality even as vehicle margins fluctuate.

Progress at key factories and upcoming production milestones also remain central to sentiment, especially as Tesla expands capacity while preparing its next-generation vehicle architecture.

 At the same time, increased focus on Full Self-Driving developments has lifted expectations for monetization, though regulatory scrutiny continues to add volatility. 

Any constructive update on safety validation, fleet deployment, or subscription trends could help re-rate revenue forecasts. Meanwhile, EV demand in China has held up well, and competitive pressure from hybrids in the U.S. has not prevented Tesla from maintaining pricing power in several markets. 

Featured image via Shutterstock

Teens in circle holding smart mobile phones - Multicultural young people using cellphones outside - Teenagers addicted to new technology concept

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When most people think about the soaring stock market, they’re really only thinking back to the end of 2022, when it feels like it all started.

I know. 2022. A year we’d all like to forget.

But looking back only that far ignores the fact that the S&P 500 is a long-term wealth generator—a really long-term wealth generator, in fact. Over the last century, it’s posted a 10.6% annualized return.

Over the last 10 years, it’s done even better, returning a robust 14.6%.

I bring this up because it’s easy to lose sight of that these days, with the news cycle constantly amping up the fear, most recently on worries about an AI bubble.

That’s just the latest scare. Remember when tariffs were going to destroy the US economy back in April? It feels like a distant memory. But if you locked in any losses when markets dropped back then, you know the pain of falling for scare stories like these.

Now is not the time to make a similar mistake. Because the truth is, stocks are primed to keep rolling, and for the oldest of reasons: The next generation of Americans is doing much better than the last. And that’s going to directly benefit everyone who invests in stocks—and 8%-paying closed-end funds (CEFs), too.

I know that statement flies in the face of everything we’re hearing these days. But I’ve got the data to back it up. Let’s get into it. Then we’ll talk strategy.

Maybe It Is Your Parents’ Stock Market After AllYoung people’s rising wealth is starting to get on the media’s radar—if only a bit. There was a Vox piece in mid-November titled “Is Gen Z ‘Utterly Screwed’?” The answer was surprising: “Gen Z is doing better economically than previous generations at the same age.”

The next day, CNBC noted that Americans under 35 have seen their wealth rise by 142%, while Business Insider grappled with the question of why Americans under 40 feel cash-strapped, although they’re “richer than their boomer parents.”

And, I should note that The Economist wrote about this a year and a half ago, noting that Millennials and Baby Boomers were “poorer at this stage in their lives” than Gen Z.

This shift in the media’s tone is based on the Survey of Consumer Finances, a massive study conducted by the Federal Reserve in 2022. The study contains all kinds of neat data points, but this is the one that caught journalists’ attention:

Net Worth By Age

Survey of Consumer Finances

There are two things to note here. First, net worth for Americans under 35 dropped in the 2000s, when that group consisted of younger Gen Xers, whose wealth was depressed from a historical perspective for more than a decade. That started the narrative that “Things are getting worse for young people” that continues to this day.

Second, the spike begins after 2019, which leads one to suspect that this jump in younger people’ wealth is pandemic-related. Could government handouts or speculations on meme stocks and crypto be driving it? If so, that would be a bad sign for the economy, and fuel for a stock-market bubble.

Fortunately, this is not the case, at least in America:

The data shows that young Americans are earning more than they were in prior eras (note these are inflation-adjusted numbers). This trend actually began before the pandemic, so speculative moves are not the story here.

Now it is true that this survey was done three years ago, so I can understand the urge to say that things have gotten worse since then. But they haven’t.

Work income rose 9% year-over-year in 2023 for workers between 25 and 34. That’s even more than the unusually strong gains we’ve seen over the last decade. And if you look at the median worker in this age group in 2024, you see the same pattern: higher growth in the late 2010s that is sustaining itself into the 2020s.

Generally speaking, young people’s incomes and wealth are growing quickly, and the trend is continuing.

Again, I bring this up because it’s a sign of a healthy economy, and it justifies that 14.5% annualized return the stock market has posted in the last decade. It just makes sense when young people are earning more, saving more and are making more than their parents or grandparents were at the same age. Stocks are simply reflecting that.

MORE FOR YOU

This 95-Year-Old CEF Profits From Richer Young PeopleAll of this is music to the ears of the asset managers at Adams Funds, who run the 8%-yielding Adams Diversified Equity Fund (ADX), a long-time CEF Insider holding.

I’d argue that ADX is the best investment to benefit as younger Americans’ growing wealth drives up stocks. I say that because ADX delivered profits based on many previous generations’ wealth, having been launched way back in 1929.

Nowadays, ADX holds a range of big-cap stocks, with a bent toward tech, at 34.5% of the portfolio. Financials (13%) and consumer discretionary (11%) are the next-biggest sectors, giving the fund a nice profile to tap rising spending by younger people.

Microsoft (MSFT), Alphabet (GOOGL) and Amazon.com (AMZN), among other big- tech mainstays, are all among ADX’s top-10 holdings, as are non-tech firms like JPMorgan Chase & Co. (JPM). ADX is also a bargain, trading at an 8.2% discount to net asset value (NAV, or the value of its underlying portfolio).

Now let’s talk performance: Since we added ADX to the CEF Insider portfolio way back in 2017, it’s solidly outrun the S&P 500 on a total-return basis while paying us its healthy dividend the entire time.

ADX Outperforms

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Of course, we have seen some pullbacks along the way. About a year and a half into our holding period, the fund dropped alongside the market and nearly wiped out all of our profits. This was a stressful time, but it’s a barely visible blip in the chart of our entire holding period above.

That’s the power of staying in the market, tuning out the noise and staying focused on long-term trends (like the growth of Gen Z’s wealth). Best of all, with CEFs like ADX, we get paid healthy dividends while we ride out any storms.

Michael Foster is the Lead Research Analyst for Contrarian Outlook. For more great retirement income ideas, click here for our latest report “Indestructible Income: 5 Bargain Funds with Steady 9.1% Dividends.”

In recent weeks, shares of Strategy Holdings (MSTR) have shown signs of potential upward movement, drawing considerable attention from investors. A prominent market analyst, Jamie Coutts, has identified a critical technical pattern centered around the $195 price mark, suggesting that this development could signal a significant shift for the company. This comes as Bitcoin itself has shown signs of stabilization following a period of pronounced fluctuations.

Strategy Holdings has become a pivotal player in the cryptocurrency market, often seen as a barometer for predicting Bitcoin’s future trends. The firm’s substantial investments in Bitcoin have made its stock a focal point for assessing broader market sentiment, as major financial entities look to Strategy’s moves as a guide for their own cryptocurrency strategies.

Key Technical Indicators Suggesting a Potential Upswing

Coutts highlighted a convergence of technical signals that could indicate a major price movement for Strategy’s stock. Among these are a “capitulation-style” volume and the formation of a hammer candle pattern, which typically appears at the end of intense selling phases. Additional indicators include DeMark levels and momentum shifts that converge around the $195 mark. He also noted a thin volume band extending to approximately $285, suggesting that Strategy’s stock could see a sharp rise if buying pressure increases in this zone.

In addition, the MSTR/BTC ratio has shown signs of weakening after a lengthy period of underperformance, a development Coutts pointed out. This aligns with a report from JPMorgan, which indicated that Strategy’s short-term prospects could hinge on maintaining its enterprise-value-to-Bitcoin ratio above 1. Currently, this ratio stands at about 1.13, supported by a cash reserve of $1.44 billion, suggesting that the company has the financial resilience to withstand market volatility.

The Role of Strategy Holdings in the Broader Crypto Landscape

The importance of Strategy Holdings in the crypto sector has grown significantly, particularly as the company adjusts its approach to managing its Bitcoin reserves. Historically, Strategy has been known for its aggressive Bitcoin acquisition strategy, peaking with 134,000 BTC monthly purchases in 2024. However, recent reports indicate a significant slowdown, with acquisitions dropping to 9,100 BTC in November 2025. This shift in strategy may signal a broader risk management plan, including potential sales of Bitcoin or related derivatives.

Despite this cautious approach, some market observers argue that Strategy Holdings’ stock has been unduly penalized by the market. CryptoQuant analyst Carmelo Alemán noted that the current stock valuation represents a “rare historical undervaluation zone.” He calculated that the company’s Bitcoin holdings, which total approximately 650,000 BTC acquired at an average price of $74,400, imply a value significantly higher than the firm’s existing market capitalization by around 78%. Currently, Strategy’s stock trades at about $186, substantially lower than its 52-week high of $457.

A Broader Perspective on the Cryptocurrency Market

The potential for Strategy’s stock to rise by over 45% hinges heavily on Bitcoin’s performance and market conditions. With Bitcoin’s price projected to stabilize or increase, Strategy could experience a corresponding uptick in its stock value. However, this relationship underscores the inherent risk and volatility associated with investing in cryptocurrencies and related securities.

Globally, the cryptocurrency market has witnessed substantial growth, with an estimated market size reaching trillions of dollars in recent years. Regulatory developments, technological advancements, and increased institutional interest are shaping the future of digital currencies. Countries around the world are exploring regulatory frameworks to manage the growing influence of cryptocurrencies, balancing innovation with consumer protection.

However, the path ahead is fraught with challenges. Regulatory scrutiny remains a significant hurdle, as governments seek to establish guidelines that prevent misuse while encouraging innovation. Additionally, the volatility inherent in the cryptocurrency market poses a risk to investors, with rapid price swings potentially leading to significant financial losses.

Looking Beyond Current Market Dynamics

The evolution of Strategy Holdings’ approach reflects broader trends in the crypto space, where companies are adopting more sophisticated risk management strategies. As markets mature, companies like Strategy are likely to continue refining their strategies, balancing aggressive acquisition with prudent management of reserves.

In summary, Strategy Holdings stands at a crossroads, with technical indicators suggesting a potential breakout, yet with inherent risks associated with the volatile nature of the cryptocurrency market. As the company navigates these complexities, its future will likely serve as an indicator for broader market trends and sentiment. Investors and analysts will closely monitor Strategy’s moves, as its strategies and outcomes could set precedents for other firms in the crypto sector. With the next MSCI review on January 15 potentially influencing Bitcoin’s trajectory, Strategy’s role as a market bellwether remains as crucial as ever.

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