Market Signal Briefing

MINNEAPOLIS, Dec. 04, 2025 (GLOBE NEWSWIRE) -- Nuwellis, Inc. (Nasdaq: NUWE), a medical technology company committed to delivering solutions for patients with cardio-renal conditions, announced today that a leading Northeastern U.S. children’s hospital has initiated an Aquadex Ultrafiltration Program. Pediatric nephrology and cardiology teams across the country continue to seek out the therapy for its minimal extracorporeal volume requirement and reliability in managing fluid-sensitive patients, driving steady growth in Nuwellis’ expanding pediatric market.

Aquadex adoption continues to accelerate in high-acuity pediatric settings nationwide. Children’s hospitals are integrating the therapy into care pathways for complex cardiac, cardio-renal, and critical care cases as teams look for controlled, predictable approaches to fluid management. This broader institutional uptake highlights both the clinical value physicians see in Aquadex and the strategic importance of the pediatric market within Nuwellis’ long-term growth plan.

“Our growth in pediatrics is being led by the clinicians themselves,” said John Erb, CEO of Nuwellis. “Pediatric nephrology and cardiology teams are seeking out Aquadex because it gives them a level of control and safety they haven’t had with traditional approaches. Their adoption of the therapy is also creating a meaningful and expanding pillar of growth for our business.”

With the addition of this new key customer, Aquadex is now utilized across a growing number of leading children’s hospitals nationwide. The consistent expansion across regions and specialties demonstrates how Aquadex is becoming a trusted solution in modern pediatric fluid-management strategies.

“Pediatric clinicians come to Nuwellis seeking a reliable solution for precise fluid volume management,” said Kelsey Newell, Senior Director, Medical Affairs. “The real-time hematocrit monitoring built into Aquadex allows teams to directly assess patient tolerance during fluid removal, which is essential in critical care. That level of visibility is what makes Aquadex stand apart in supporting fragile pediatric disease states.”

Nuwellis remains committed to supporting pediatric specialists and hospital systems as Aquadex becomes more widely used in complex care environments across the country.

For more information, visit www.nuwellis.com.

About Nuwellis
Nuwellis, Inc. (Nasdaq: NUWE) is a medical device company dedicated to transforming the lives of patients suffering from fluid overload through science, collaboration, and innovation. The company is focused on commercializing the Aquadex SmartFlow® system for ultrafiltration therapy. Nuwellis is headquartered in Minneapolis, with a wholly owned subsidiary in Ireland. For more information visit www.nuwellis.com or visit us on LinkedIn or X, formerly known as Twitter.

About the Aquadex SmartFlow® System
The Aquadex SmartFlow system delivers clinically proven therapy using a simple, flexible and smart method of removing excess fluid from patients suffering from hypervolemia (fluid overload). The Aquadex SmartFlow system is indicated for temporary (up to 8 hours) or extended (longer than 8 hours in patients who require hospitalization) use in adult and pediatric patients weighing 20 kg or more whose fluid overload is unresponsive to medical management, including diuretics. All treatments must be administered by a health care provider, within an outpatient or inpatient clinical setting, under physician prescription, both having received training in extracorporeal therapies.

Forward-Looking Statements Certain statements in this release may be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including without limitation, statements regarding the new market opportunities and anticipated growth in 2025 and beyond. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this release, including, without limitation, those risks associated with our ability to execute on our commercialization strategy, the possibility that we may be unable to raise sufficient funds necessary for our anticipated operations, our post-market clinical data collection activities, benefits of our products to patients, our expectations with respect to product development and commercialization efforts, our ability to increase market and physician acceptance of our products, potentially competitive product offerings, intellectual property protection, our ability to integrate acquired businesses, our expectations regarding anticipated synergies with and benefits from acquired businesses, and other risks and uncertainties described in our filings with the SEC. Forward-looking statements speak only as of the date when made. Nuwellis does not assume any obligation to publicly update or revise any forward-looking statements, whether due to new information, future events or otherwise.

For further information, please contact:

Investor Relations:
[email protected]

Media Contact:
Leah McMullen
Director of Communications
[email protected]

Key Takeaways XOM's earnings rely heavily on upstream operations, leaving results sensitive to oil and gas price swings.XOM's 13.6% debt-to-capitalization provides flexibility to withstand downturns and pursue acquisitions.XOM trades at a 7.65X EV/EBITDA, above the industry average, with 2025 earnings estimates trending higher.
Exxon Mobil Corporation (XOM - Free Report) is an integrated energy giant, but generates the bulk of its earnings from its upstream operations. With a strong presence in the prolific Permian Basin and offshore Guyana resources, its top and bottom lines are highly vulnerable to fluctuations in oil and natural gas prices.

But investors should not worry much about this vulnerability since ExxonMobil has a strong balance sheet. With a debt-to-capitalization of 13.6%, the integrated energy giant has significantly lower exposure to debt capital. Thus, the company can rely on its strong balance sheet when oil and natural gas prices turn low and the business scenario becomes unfavorable.

Also, with lower exposure to debt capital, XOM can secure additional debt on favorable terms during uncertain situations, allowing it to operate smoothly, pursue lucrative acquisitions and continue rewarding shareholders.

CVX & EOG Also Have Low Debt LoadChevron Corporation (CVX - Free Report) and EOG Resources Inc. (EOG - Free Report) , both having robust balance sheets, can also sail through an unfavorable business environment due to their strong financials. While CVX has a debt-to-capitalization of 17.5%, EOG’s debt-to-capitalization stands at 20.3%.

XOM’s Price Performance, Valuation & EstimatesShares of XOM have gained 6.9% over the past year compared with the 8.7% improvement of the industry.

Image Source: Zacks Investment Research

From a valuation standpoint, XOM trades at a trailing 12-month enterprise value to EBITDA (EV/EBITDA) of 7.65X. This is above the broader industry average of 4.81X.

Image Source: Zacks Investment Research

The Zacks Consensus Estimate for XOM’s 2025 earnings has seen upward revisions over the past 30 days.

Image Source: Zacks Investment Research

ExxonMobil stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

CHICAGO, Dec. 04, 2025 (GLOBE NEWSWIRE) -- The end of the federal student loan forgiveness program has left millions of borrowers facing monthly payments for the first time in years. This financial strain is reshaping the rental market and creating new challenges for property managers who rely on credit-based scoring to assess risk.

A recent TransUnion (NYSE: TRU) analysis reveals that the number of rental applicants 90+ days delinquent on student loans more than doubled in the first half of 2025, climbing from 15% in January to 32% in May. Full findings appear in the ebook Trapped by Tuition: The New Reality of Renting.

“The influx of applicants struggling with student loan payments could significantly impact property managers,” said Maitri Johnson, EVP of TransUnion’s tenant and employment screening business. “Applicants who once met screening thresholds are now falling short.”

The report shows renters with Prime credit scores (661-720) – previously considered low risk – are slipping into riskier categories. Consumers across all tiers experienced notable score declines.

Credit Score Shifts for Renters Across Risk Tiers

TierKey MovementSuper Prime (781–850)51% fell to Prime; 45% to Near PrimePrime Plus (721–780)34% fell to Prime; 58% to Near PrimePrime (661–720)59% fell to Near Prime; 23% to Sub PrimeNear Prime (601–660)63% fell to Sub Prime According to TransUnion® TruVision™ Resident Score 4.0

Traditional credit scores predict loan repayment, not rental performance. They overlook critical indicators such as eviction history and rental payment behavior. Property managers using purpose-built rental risk models can reduce exposure without shrinking applicant pools, enabling faster, more confident leasing decisions.

The report also warns that financial stress drives fraud. Renters under pressure may falsify documents or misrepresent income. Multifamily-specific fraud detection tools can help verify identities, flag suspicious applications, and prevent costly evictions. 

“Student loan stress is reshaping the rental landscape, and traditional screening methods simply can’t keep up,” said Johnson. “With delinquencies doubling and credit tiers slipping, property managers must evolve their strategies.”

For more information about TransUnion’s TruVision™ Resident Screening solution, click here.

About TransUnion (NYSE: TRU)

TransUnion is a global information and insights company with over 13,000 associates operating in more than 30 countries. We make trust possible by ensuring each person is reliably represented in the marketplace. We do this with a Tru™ picture of each person: an actionable view of consumers, stewarded with care. Through our acquisitions and technology investments we have developed innovative solutions that extend beyond our strong foundation in core credit into areas such as marketing, fraud, risk and advanced analytics. As a result, consumers and businesses can transact with confidence and achieve great things. We call this Information for Good® — and it leads to economic opportunity, great experiences and personal empowerment for millions of people around the world. http://www.transunion.com/business

Contact        
Dave Blumberg
TransUnion
E-mail [email protected]
Telephone 312-972-6646

, /PRNewswire/ - TELUS Corporation ("TELUS" or the "Company") today announced the commencement of separate offers (the "Offers") to purchase for cash up to C$500,000,000 (the "Maximum Purchase Amount") in aggregate purchase price, excluding accrued and unpaid interest, of its outstanding notes of the seven series listed in the table below (collectively, the "Notes"), which Maximum Purchase Amount may be increased, decreased or waived by the Company in its sole discretion. Each Offer is subject to the satisfaction or waiver of certain conditions, including the Financing Condition (as defined below)

The Offers

The Offers are made upon the terms and subject to the conditions set forth in the Offer to Purchase dated December 4, 2025, relating to the Notes (the "Offer to Purchase"). Capitalized terms used but not defined in this news release have the meanings given to them in the Offer to Purchase.

The amount of Notes purchased in the Offers and the allocation of such amount between the seven series listed below will be determined by the Company, in its sole discretion. The Offers may be subject to proration as described in the Offer to Purchase. In addition, we reserve the right to accept significantly more or significantly less (or none) of any series of Notes as compared to the other series of Notes.

Title of Notes(1)

Principal
Amount
Outstanding

CUSIP / ISIN
Nos.(1)

Par Call
Date(2)

Reference
Security(3)

Bloomberg
Reference
Page(3)

Fixed 
Spread
(Basis
Points)(3)

3.95% Notes,
Series CAB due
 February, 2050

C$105,257,000

87971MBP7 /
CA87971MBP73

August 16,
2049

CAN 2¾
12/01/55

FIT
CAN0-50

+145

4.10% Notes,
Series CAE due
April, 2051

C$78,105,000

87971MBT9 /
CA87971MBT95

October 5,
2050

CAN 2¾
12/01/55

FIT
CAN0-50

+145

4.40% Notes,
Series CU due
January, 2046

C$233,187,000

87971MBB8 /
CA87971MBB87

July 29,
2045

CAN 2¾
12/01/55

FIT 
CAN0-50

+135

4.40% Notes,
Series CL due
April, 2043

C$600,000,000

87971MAS2 /
CA87971MAS22

October 1,
2042

CAN 2¾
12/01/55

FIT
CAN0-50

+125

4.70% Notes,
Series CW due
March, 2048

C$475,000,000

87971MBE2 /
CA87971MBE27

September 6,
2047

CAN 2¾
12/01/55

FIT
CAN0-50

+130

2.85% Notes,
Series CAF due
November, 2031

C$750,000,000

87971MBV4 /
CA87971MBV42

August 13,
2031

CAN 1½
06/01/31

FIT
CAN0-50

+60

4.75% Notes,
Series CR due
January, 2045

C$400,000,000

87971MAY9 /
CA87971MAY99

July 17,
2044

CAN 2¾
12/01/55

FIT
CAN0-50

+130

(1)

No representation is made by the Company as to the correctness or accuracy of the CUSIP numbers or ISINs listed in this news release or printed on the Notes. They are provided solely for convenience.

(2)

For each series of Notes, the calculation of the applicable Total Consideration (as defined below) may be performed to either the maturity date or such par call date, in accordance with standard market convention.

(3)

The total consideration for each series of Notes (such consideration, the "Total Consideration") payable per each C$1,000 principal amount of such series of Notes validly tendered for purchase will be based on the applicable Fixed Spread specified in the table above for such series of Notes, plus the applicable yield based on the bid-side price of the applicable Canadian reference security as specified in the table above, as quoted on the applicable Bloomberg Reference Page as of 11:00 a.m. (Eastern time) on December 12, 2025, unless extended by the Company with respect to the applicable Offer (such date and time with respect to an Offer, as the same may be extended by the Company with respect to such Offer, the "Price Determination Date"). The Total Consideration does not include the applicable Accrued Coupon Payment (as defined below), which will be payable in cash in addition to the applicable Total Consideration.

Terms of the Offers

The Offers will expire at 5:00 p.m. (Eastern time) on December 11, 2025, unless extended or earlier terminated by the Company (such date and time with respect to an Offer, as the same may be extended with respect to such Offer, the "Expiration Date"). Notes may be validly withdrawn at any time at or prior to 5:00 p.m. (Eastern time) on December 11, 2025 (such date and time with respect to an Offer, as the same may be extended with respect to such Offer, the "Withdrawal Date"), unless extended by the Company with respect to any Offer.

Provided that the Financing Condition has been satisfied or waived by the Settlement Date (as defined below) and all other conditions to the Offers have been satisfied or waived by the Company by the Expiration Date, settlement for all Notes validly tendered and not validly withdrawn prior to the Expiration Date and accepted for purchase will be three business days after the Expiration Date, which is expected to be December 16, 2025, unless extended by the Company with respect to any Offer (the "Settlement Date").

Upon the terms and subject to the conditions set forth in the Offer to Purchase, Holders whose Notes are accepted for purchase in the Offers will receive the applicable Total Consideration for each C$1,000 principal amount of such Notes in cash on the Settlement Date. Promptly after 11:00 a.m. (Eastern time) on December 12, 2025, the Price Determination Date, unless extended by the Company with respect to any Offer, the Company will issue a press release specifying, among other things, the Total Consideration for each series of Notes validly tendered and accepted for purchase or that the Company intends to accept for purchase subject to the satisfaction or waiver of the Financing Condition by the Settlement Date.

In addition to the applicable Total Consideration, Holders whose Notes are accepted for purchase by the Company will receive a cash payment equal to the accrued and unpaid interest on such Notes from and including the immediately preceding interest payment date for such Notes to, but excluding, the Settlement Date (the "Accrued Coupon Payment"). Interest will cease to accrue on the Settlement Date for all Notes accepted in the Offers. Under no circumstances will any interest be payable because of any delay in the transmission of funds to Holders by CDS Clearing and Depository Services Inc. ("CDS") or its participants.

Any Notes validly tendered pursuant to the Offers but not accepted for purchase by the Company will be returned promptly to the tendering Holders thereof.

The Company may increase or waive the Maximum Purchase Amount with or without extending the Withdrawal Date. If Holders tender more Notes in the Offers than they expect to be accepted for purchase based on the Maximum Purchase Amount and the Company subsequently accepts more than such Holders expected of such Notes tendered as a result of an increase of the Maximum Purchase Amount, such Holders may not be able to withdraw any of their previously tendered Notes.

The Offers are subject to the satisfaction or waiver of certain conditions as described in the Offer to Purchase, including the Company having raised by the Settlement Date net proceeds through one or more issuances of debt in the public or private capital markets, on terms reasonably satisfactory to the Company, sufficient to purchase all Notes validly tendered in the Offers (and not validly withdrawn) and accepted for purchase by the Company and to pay accrued and unpaid interest in respect thereof and all fees and expenses in connection with the Offers (the "Financing Condition"). The Company reserves the right, subject to applicable law, to waive any and all conditions to any Offer. If any of the conditions is not satisfied, the Company is not obligated to accept for payment, purchase or pay for, and may delay the acceptance for payment of, any tendered Notes, in each event subject to applicable laws, and may terminate or alter any or all of the Offers. The Offers are not conditioned on the tender of any aggregate minimum principal amount of Notes of any series (subject to minimum denomination requirements as set forth in the Offer to Purchase) and none of the Offers is conditioned on the consummation of any other Offer.

The Company has retained CIBC World Markets Inc. ("CIBC"), BMO Nesbitt Burns Inc. ("BMO"), RBC Dominion Securities Inc. ("RBC"), Scotia Capital Inc. ("Scotia") and TD Securities Inc. ("TD") to act as lead dealer managers (the "Dealer Managers") for the Offers. Questions regarding the terms and conditions for the Offers or for copies of the Offer to Purchase should be directed to CIBC at 1-416-594-8515 (collect), BMO at 1-833-418-0762 (toll-free) or 1-416-359-6359 (collect), RBC at 1-877-381-2099 (toll-free) or 1-416-842-6311 (collect), Scotia at 1-416-863-7438 (collect) or TD at 1-866-584-2096 (toll-free) or 1-416-982-6451 (collect). You may also contact your broker, dealer, commercial bank, trust company or other nominee for assistance concerning the Offers.

Computershare Investor Services Inc. will act as the Tender Agent for the Offers.

If the Company terminates any Offer with respect to one or more series of Notes, it will give prompt notice to the Tender Agent, and all Notes tendered pursuant to such terminated Offer will be returned promptly to the tendering Holders thereof. With effect from such termination, any Notes blocked in CDS will be released.

Holders are advised to check with any bank, securities broker or other intermediary through which they hold Notes as to when such intermediary would need to receive instructions from a beneficial owner in order for that Holder to be able to participate in, or withdraw their instruction to participate in the Offers before the deadlines specified herein and in the Offer to Purchase. The deadlines set by any such intermediary and CDS for the submission and withdrawal of tender instructions will also be earlier than the relevant deadlines specified herein and in the Offer to Purchase.

Offer and Distribution Restrictions

The Offers are being made solely pursuant to the Offer to Purchase. This news release does not constitute a solicitation of an offer to buy any securities in the United States. No Offer constitutes an offer or an invitation by, or on behalf of, TELUS or the Dealer Managers (i) to participate in the Offers in the United States; (ii) to, or for the account or benefit of, any "U.S. person" (as such term is defined in Regulation S of the U.S. Securities Act of 1933, as amended); or (iii) to participate in the Offers in any jurisdiction in which it is unlawful to make such an offer or solicitation in such jurisdiction, and such persons are not eligible to participate in or tender any securities pursuant to the Offers. No action has been or will be taken in the United States or any other jurisdiction that would permit the possession, circulation or distribution of this news release, the Offer to Purchase or any other offering material or advertisements in connection with the Offers to (i) any person in the United States; (ii) any U.S. person; (iii) anyone in any other jurisdiction in which such offer or solicitation is not authorized; or (iv) any person to whom it is unlawful to make such offer or solicitation. Accordingly, neither this news release, the Offer to Purchase nor any other offering material or advertisements in connection with the Offers may be distributed or published, in or from the United States or any such other jurisdiction (except in compliance with any applicable rules or regulations of such other jurisdiction). Tenders will not be accepted from any Holder located or resident in the United States.

In any jurisdiction in which the securities laws require the Offers to be made by a licensed broker or dealer, the Offers will be deemed to have been made on behalf of the Company by the Dealer Managers or one or more registered brokers or dealers that are licensed under the laws of such jurisdiction.

This news release is for informational purposes only. This news release is not an offer to purchase or a solicitation of an offer to sell any Notes or any other securities of TELUS or any of its subsidiaries.

Forward-looking Statements

This news release contains statements about future events, including statements regarding the terms and timing for completion of the Offers, including the acceptance for purchase of any Notes validly tendered and the expected Expiration Date and Settlement Date thereof; and the satisfaction or waiver of certain conditions of the Offers. By their nature, forward-looking statements require us to make assumptions and predictions and are subject to inherent risks and uncertainties including risks associated with capital and debt markets. There is significant risk that the forward-looking statements will not prove to be accurate. Forward-looking statements are provided herein for the purpose of giving information about the proposed Offers. Readers are cautioned that such information may not be appropriate for other purposes. The Company's obligation to complete an Offer with respect to a particular series of Notes validly tendered is conditioned on the satisfaction of conditions described in the Offer to Purchase, including the Financing Condition. Accordingly, there can be no assurance that repurchases of Notes under the Offers will occur at all or at the expected time indicated in this news release. Readers are cautioned not to place undue reliance on forward-looking statements as a number of factors could cause actual future performance and events to differ materially from those described in the forward-looking statements. Accordingly, this news release is subject to the disclaimer and the qualifications and risk factors as set out in our 2024 annual management's discussion and analysis and in our third quarter 2025 management's discussion and analysis and other TELUS public disclosure documents and filings with securities commissions in Canada (on SEDAR+ at sedarplus.ca) and in the United States (on EDGAR at sec.gov). The forward-looking statements contained in this news release describe our expectations at the date of this news release and, accordingly, are subject to change after such date. Except as required by law or the Offer to Purchase, TELUS disclaims any intention or obligation to update or revise forward-looking statements.

About TELUS

TELUS (TSX: T, NYSE: TU) is a world-leading communications technology company operating in more than 45 countries and generating over C$20 billion in annual revenue with more than 20 million customer connections through our advanced suite of broadband services for consumers, businesses and the public sector. We are committed to leveraging our technology to enable remarkable human outcomes. TELUS is passionate about putting our customers and communities first, leading the way globally in client service excellence and social capitalism. TELUS Health is enhancing more than 160 million lives across 200 countries and territories through innovative preventive medicine and well-being technologies. TELUS Agriculture & Consumer Goods utilizes digital technologies and data insights to optimize the connection between producers and  consumers. TELUS Digital specializes in digital customer experiences and future-focused digital transformations that deliver value for their global clients. Guided by our enduring 'give where we live' philosophy, TELUS, our team members and retirees have contributed C$1.8 billion in cash, in-kind contributions, time and programs including 2.4 million days of service since 2000, earning us the distinction of the world's most giving company.

For more information, visit telus.com or follow @TELUSNews on X and @Darren_Entwistle on Instagram.

Investor Relations
Robert Mitchell
[email protected]

Media Relations
Steve Beisswanger
[email protected]

SOURCE TELUS Corporation

LOS ANGELES, Dec. 04, 2025 (GLOBE NEWSWIRE) -- The DJS Law Group reminds investors of a class action lawsuit against Primo Brands Corporation (“Primo” or “the Company”) (NYSE: PRMB) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.

Shareholders who purchased shares of PRMB during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointments. Appointment as lead plaintiff is not required to partake in any recovery.

CLASS PERIOD: Purchasers of Primo Water Corporation ("Primo Water") from June 17, 2024 to November 8, 2024, and/or the publicly traded common stock of Primo Brands Corporation from November 11, 2024 to November 6, 2025.

DEADLINE: January 12, 2026

CASE DETAILS: According to the Complaint, the Company made false and misleading statements to the market. Primo failed to provide accurate updates about its merger with BlueTriton Brands. The Company claimed the integration was working “flawlessly” when in fact it was failed to accelerate growth or create efficiencies. Based on these facts, Primo’s public statements were false and materially misleading throughout the class period.

If you are a shareholder who suffered a loss, contact us to participate.

NEXT STEPS FOR SHAREHOLDERS: Once you register as a shareholder who purchased shares during the timeframe listed above, you will be enrolled in a portfolio monitoring software to provide you with status updates throughout the lifecycle of the case. There is no cost or obligation to you to participate in this case.

WHY DJS LAW GROUP? DJS Law Group’s primary focus is to enhance investor return through balanced counseling and aggressive advocacy. We specialize in securities class actions, corporate governance litigation, and domestic/international M&A appraisals. Our clients are some of the largest and most sophisticated hedge funds and alternative asset managers in the world. The litigation claims of our clients are extraordinarily valuable assets that demand respect, focus, and results.

Join the case to recover your losses.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.

CONTACT:

David J. Schwartz

DJS Law Group

274 White Plains Road, Suite 1

Eastchester, NY 10709

Phone: 914-206-9742

Email: [email protected]

BRP Inc. (DOOO - Free Report) came out with quarterly earnings of $1.15 per share, beating the Zacks Consensus Estimate of $0.88 per share. This compares to earnings of $0.85 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +30.68%. A quarter ago, it was expected that this company would post earnings of $0.33 per share when it actually produced earnings of $0.67, delivering a surprise of +103.03%.

Over the last four quarters, the company has surpassed consensus EPS estimates four times.

BRP, which belongs to the Zacks Automotive - Original Equipment industry, posted revenues of $1.63 billion for the quarter ended October 2025, surpassing the Zacks Consensus Estimate by 11.73%. This compares to year-ago revenues of $1.43 billion. The company has topped consensus revenue estimates four times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

BRP shares have added about 39.1% since the beginning of the year versus the S&P 500's gain of 16.5%.

What's Next for BRP?While BRP has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for BRP was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $1.39 on $1.76 billion in revenues for the coming quarter and $3.28 on $5.92 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Automotive - Original Equipment is currently in the top 34% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

Another stock from the broader Zacks Auto-Tires-Trucks sector, REV Group (REVG - Free Report) , has yet to report results for the quarter ended October 2025.

This company is expected to post quarterly earnings of $0.78 per share in its upcoming report, which represents a year-over-year change of +52.9%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

REV Group's revenues are expected to be $647.12 million, up 8.2% from the year-ago quarter.

Nvidia stock was gaining amid reports it won a major political battle over restriction on exports of AI chips.

, /PRNewswire/ -- Massimo Group (NASDAQ: MAMO) today announced the establishment of Massimo AI Technology, Inc, a 100% subsidiary of Massimo Group, marking a measured and strategic step into the expanding global markets for industrial and service robotics. This initiative supports the company's long-term roadmap to broaden its technology capabilities and develop new growth avenues beyond its established powersports and electric vehicle businesses.

Advancing Massimo's Technology Roadmap

The new division will focus on developing practical, scalable robotic systems that complement Massimo's strengths in manufacturing. Initial development areas include:

Industrial automation platforms
Logistics and warehouse assistance solutions

Massimo's robotics programs are currently in early research and development phases, with commercialization timelines to be communicated as progress is achieved.

Building a Robust Robotics Supply & Manufacturing Foundation

Massimo is assembling an integrated supply platform to support future robotics products, including:

Core mechanical and electrical systems
Control hardware and embedded computing
Sensor integration and machine-vision technologies
Scalable manufacturing, testing, and quality assurance processes

This foundation is intended to enhance Massimo's ability to deliver competitive, cost-effective robotics solutions at scale as global automation markets evolve.

Leadership Commentary — David Shan

"Expanding into robotics is a natural extension of the manufacturing capabilities we've developed over the past decade," said David Shan, Founder, Chairman, and CEO of Massimo Group. "Our experience in electric systems, manufacturing, and global operations provides a strong foundation as we begin building the next phase of our technology portfolio. We will approach robotics thoughtfully—focusing on areas where we can deliver practical value and long-term opportunity for our shareholders."

Strategic Value for Investors

The formation of the AI Robotics Division is expected to:

Broaden Massimo's technology base
Provide potential entry points into high-growth automation sectors
Diversify long-term revenue opportunities
Strengthen the company's positioning as a technology-forward manufacturer

Massimo will provide updates on development milestones and potential commercialization pathways as work advances through early-stage research and prototyping.

About Massimo Group (NASDAQ: MAMO)

Massimo Group is a manufacturer and distributor of powersports and electric vehicles headquartered in Garland, Texas. The company's portfolio includes UTVs, ATVs, e-bikes, and electric utility vehicles known for performance, reliability, and value.

Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of the federal securities laws with respect to Massimo Group. All statements other than statements of historical facts contained in this press release, including statements regarding Massimo Group's future results of operations and financial position, Massimo Group's business strategy, prospective costs, timing and likelihood of success, plans and objectives of management for future operations, future results of current and anticipated operations of Massimo Group are forward-looking statements. In some cases, forward-looking statements can be identified because they contain words such as "anticipate," "believe," "estimate," "expect," "intend," "may," "predict," "project," "target," "potential," "seek," "will," "would," "could," "should," "continue," "contemplate," "plan," and other words and terms of similar meaning. These forward-looking statements are subject to a number of risks, uncertainties and assumptions, including, but not limited to, risks relating to Massimo Group which may be affected by, among other things, competition, the ability of the combined company to grow and manage growth economically and hire and retain key employees; costs; changes in applicable laws or regulations; the possibility that Massimo Group may be adversely affected by other economic, business, and/or competitive factors; and other risks and uncertainties, including those under "Risk Factors" in filings with the SEC made by Massimo Group. Moreover, Massimo Group operates in very competitive and rapidly changing environments. Because forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified and some of which are beyond Massimo Group's control, you should not rely on these forward-looking statements as predictions of future events. Forward-looking statements speak only as of the date they are made. No assurance can be given regarding the forward-looking statements, and actual results may differ materially from those as indicated. Massimo Group undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Company Contact
Dr. Yunhao Chen
Chief Financial Officer
Massimo Group
Email: [email protected] 

SOURCE Massimo Group

The low-cost retailer reports better-than-expected earnings and lifts guidance for the rest of the fiscal year.

December 4, 2025

Amsterdam, the Netherlands – Royal Philips (NYSE: PHG, AEX: PHIA), a global leader in health technology, today reaffirmed that its 2026 outlook will be issued as planned on February 10, in line with the company’s previously communicated schedule.

As previously guided, the company expects continued performance improvement with sequential comparable sales growth, expanded margins (despite tariff headwinds) and strong cashflow. The company continues to expect comparative sales growth to accelerate sequentially in 2026 towards mid-single-digit growth in line with the current trajectory and supported by continued solid order momentum. This is in line with performance in the last four consecutive quarters.

The company has not released any early view of its forthcoming guidance. Yesterday at an industry conference, in answer to a question, the company confirmed that sequential acceleration towards mid-single-digit growth continues to be its expectation and noted this does not imply doubling growth every single year in the company’s multi-year trajectory.

Philips will share its outlook as part of its planned disclosure on February 10.

For further information, please contact:

Steve Heywood
Philips Global External Relations
Tel.: +31 638 363 589
E-mail: [email protected]

Dorin Danu
Philips Investor Relations
Tel.: +31 205 977 055
E-Mail: [email protected]

About Royal Philips

Royal Philips (NYSE: PHG, AEX: PHIA) is a leading health technology company focused on improving people’s health and well-being through meaningful innovation. Philips’ patient- and people-centric innovation leverages advanced technology and deep clinical and consumer insights to deliver personal health solutions for consumers and professional health solutions for healthcare providers and their patients in the hospital and the home.

Headquartered in the Netherlands, the company is a leader in diagnostic imaging, ultrasound, image-guided therapy, monitoring and enterprise informatics, as well as in personal health. Philips generated 2024 sales of EUR 18 billion and employs approximately 67,000 employees with sales and services in more than 100 countries. News about Philips can be found at www.philips.com/newscenter.

VANCOUVER, British Columbia, Dec. 04, 2025 (GLOBE NEWSWIRE) -- Coppernico Metals Inc. (TSX: COPR, OTCQB: CPPMF, FSE: 9I3) (“Coppernico” or the “Company”), is pleased to announce that, through its wholly owned private Peruvian subsidiary, Sombrero Minerales SAC, it has commenced a large-scale UAV magnetic survey and a ground gravity survey across multiple targets at its Sombrero copper-gold skarn-porphyry Project in Peru (Figure 1). The surveys are designed to refine geological interpretations beneath cover, support drill-target definition, and better define the footprint of the broader Sombrero mineralized system.

Program Details:

Approximately 13,000 hectares (ha) UAV magnetic coverage (760 line-kilometres (km))Approximately 7,000 ha first-ever ground gravity coverageIntegration with induced polarization (IP) and geological data for 3D model updates

Figure 1: Outline of 2025 planned magnetic and gravity survey areas across the Sombrero Project.

Ivan Bebek, Chair and CEO of Coppernico, commented, “We are actively advancing our surface exploration programs at our Sombrero Project in an effort to position the Company with an extensive drill ready pipeline of the large-scale high-grade copper-gold targets for our next phase of drilling.

These high-resolution datasets being collected from these geophysical programs, in conjunction with our previous surface work and drilling, will enhance our understanding of the current potential and help delineate additional key targets for our next phase of drilling.

Our 2026 goal at Sombrero is to expand our advanced high-grade copper-gold Fierrazo target and to test several new targets we have identified in a highly under explored prolific mining region in Peru. We also continue to prioritize and expand great partnerships with the local communities where we have been able to provide additional jobs with recent ongoing work programs.”

The 2025-2026 Magnetic and Gravity Survey Program

The UAV magnetic survey plans to cover approximately 13,000 ha (130 square km), comprising nearly 760 line-km of new data. The program is planned to expand coverage northward and southward to include the Antapampa and Tipicancha target areas, which were not covered by previous magnetic surveys. Infill survey lines are to be flown over priority areas to provide greater resolution and enhance interpretation of magnetic and structural features associated with skarn and porphyry-style mineralization.

Field mapping and drilling completed over the past two years have demonstrated that magnetic data is critical to understanding the covered bedrock geology and mineralizing system at Sombrero. This new UAV magnetic survey aims to provide significantly higher-quality and higher-resolution magnetic data than the historical 2007 and 2018 programs and therefore will directly support geological modeling and drill targeting.

In parallel, the Company has also commenced a new ground gravity survey covering approximately 7,000 ha, the first-ever gravity dataset collected at Sombrero. Gravity data should map dense skarn horizons, intrusive centers, lithologic contacts and structural corridors, complementing the magnetic and existing IP data. Drilling to date has confirmed strong density contrasts between major rock types and mineralized zones, highlighting the gravity method’s potential to improve target definition and depth modelling.

Deep Sounding EIRL, a Peruvian company specializing in geophysical surveys, has been contracted to complete the program, which is expected to take several months.

The integration of modern geophysical methods in the upcoming program is expected to provide a clearer picture of the Sombrero mineralized system’s overall continuity and enable data-driven targeting to enhance discovery potential. Results from the geophysical surveys will be processed and interpreted over the coming months, with key findings to guide Phase 2 drill targeting.

Tim Kingsley, VP Exploration, commented, “These surveys will meaningfully advance our understanding of the covered portions of the large mineral system at Sombrero. By combining magnetic, gravity, and IP datasets, we aim to identify coincident anomalies that may highlight zones of mineralization and refine our 3D geologic model across the district.”

Technical Disclosure and Qualified Person

The scientific and technical information contained in this news release was reviewed and approved by Tim Kingsley, M.Sc., CPG, Coppernico’s VP of Exploration, who is a “Qualified Person” (as defined in NI 43-101).

ON BEHALF OF THE BOARD OF DIRECTORS

Ivan Bebek
Chair & CEO

For further information, please contact:

Coppernico Metals Inc.

Phone: +1 778 729 0600

Email: [email protected]

Website: www.coppernicometals.com

Twitter: @CoppernicoMetal

LinkedIn: www.linkedin.com/company/coppernico-metals/

About Coppernico

Coppernico is a mineral exploration company focused on creating value for shareholders and stakeholders through diligent project evaluation and exploration, in pursuit of the discovery of large-scale high-grade copper-gold deposits in the Americas. The Company’s management and technical teams have a successful track record of raising capital, discovery and the monetization of exploration successes. The Company's objective is to become a leading advanced copper and gold explorer, and through its wholly owned private Peruvian subsidiary Sombrero Minerales S.A.C., is currently focused on the Ccascabamba (previously referred to as Sombrero Main) and Nioc target areas within the Sombrero Project in Peru, its flagship project, while regularly reviewing additional premium projects to consider for acquisition.

The Sombrero Project is a land package of approximately 56,400 hectares (564 square kilometres) located in the north-western margins of the world-renowned Andahuaylas-Yauri trend in Peru. It consists of a number of prospective exploration targets characterized by copper-gold skarn and porphyry systems and precious metal epithermal systems. The Company’s NI 43-101 technical report, with an effective date of April 17, 2024, and as filed on SEDAR+ on May 23, 2024, focuses on the Ccascabamba and Nioc target areas of the Sombrero Project.

Coppernico Metals Inc. is currently listed on the Toronto Stock Exchange under the symbol “COPR”, trades on the OTCQB Venture Market under symbol “CPPMF” and is quoted over the counter by certain dealers in the Unofficial Market of the Frankfurt Stock Exchange under the symbol “9I3”. More information about Coppernico can be found on the Company’s profile on SEDAR+ (www.sedarplus.ca).

Cautionary Note

No regulatory organization has approved the contents hereof.

This news release contains forward-looking statements and forward-looking information within the meaning of Canadian securities legislation (collectively, “forward-looking statements”). Forward-looking statements are often identified by terms such as “may”, “should”, “anticipate”, “expect”, “intend” and similar expressions and include, but are not limited to, statements with respect to: the interpretation of geological mapping and sampling results, the prospective nature of identified targets for future exploration, the potential of the interpreted mineralized systems, the progress and approval of permits, and the Company’s drill plans. No certainty can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be unduly relied upon. Forward-looking statements are based on a number of assumptions and are subject to a number of risks and uncertainties, many of which are beyond the Company’s control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking statements. Readers should refer to the risks discussed in the Company’s 2024 Annual Information Form and other continuous disclosure filings with the Canadian Securities Administrators, available at www.sedarplus.ca. These factors are not, and should not be construed as being, exhaustive. Accordingly, readers should not place heavy reliance on forward-looking statements. The forward-looking statements contained in this new release are expressly qualified by this cautionary statement. Any forward-looking information and the assumptions made with respect thereto speaks only as of the date of this news release. The Company does not undertake any obligation to publicly update or revise any forward-looking information after the date of this news release to conform such information to actual results or to changes in the Company’s expectations except as otherwise required by applicable legislation.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a2d0355b-7f63-433b-8daa-2060877dc531

SAN FRANCISCO--(BUSINESS WIRE)-- #AIForManufacturing--Wizerr debuts the Agentic BOM Engine, a multi-agent workflow for electronics manufacturing powered by a patent-pending Component Intelligence Layer.

VANCOUVER, BC / ACCESS Newswire / December 4, 2025 / Guanajuato Silver Company Ltd. (the "Company" or "GSilver") (TSXV:GSVR)(OTCQX:GSVRF) is providing an update on current activities in its mining operations in the Guanajuato area in advance of the closing of the acquisition of Bolanitos S.A.

This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

Tesla Inc.’s (NASDAQ: TSLA) share price is 4.8% higher than a week ago. The company reported strong November sales in China and record annual sales in Norway. Meanwhile, it reportedly is scaling down Cybertruck production due to softening demand. The stock is 29.8% higher than six months ago, outperforming the S&P 500 in that time.

Tesla stock is 27.1% higher than a year ago, outperforming the Nasdaq. Plenty of investors are still drawn to the EV market leader, which experienced a meteoric rise that resulted in a gain of over 28,000% since the company’s initial public offering on June 29, 2010. It debuted at $17 per share, or roughly $1 per share when adjusted for stock splits.

Regardless, investors are more concerned with the stock’s future performance over the next one, five, and 10 years. While most Wall Street analysts will calculate 12-month forward projections, it is clear that nobody has a consistent crystal ball, and plenty of unforeseen circumstances can render even near-term projections irrelevant. 24/7 Wall St. aims to present some farther-looking insights based on Tesla’s own numbers, along with business and market development information that may be of help to our readers’ own research.

Tesla’s Recent Success

Tesla has managed to thrive, boosting earnings and revenue even in high-interest-rate environments. Tesla’s Model S was the best-selling plug-in electric car in both 2015 and 2016. The mass-market Model 3 sedan followed, becoming the best-selling electric car from 2018 to 2021. The Model Y, a mass-market SUV version of the Model 3, debuted in 2019, with deliveries beginning in 2020. Since then, Tesla stock has experienced incredible growth.

Along with Tesla’s energy storage business and its charging station network, the company saw its revenues grow.

Fiscal Year
Price
Revenues
Net Income

2015
$16.00
$4.046 B
−$888.7 M

2016
$14.25
$7.000 B
−$674.9 M

2017
$21.60
$11.759 B
−$1.962 B

2018
$21.18
$21.461 B
−$976 M

2019
$29.53
$24.578 B
−$862 M

2020
$235.23
$31.536 B
$721 M

2021
$352.26
$53.823 B
$5.519 B

2022
$123.18
$81.462 B
$12.556 B

2023
$248.48
$96.773 B
$14.997 B

2024
$403.84
$97.690 B
$7.13 B

Key Drivers for Tesla’s Performance

Improved Margins: Tesla’s management has been cutting manufacturing costs and expanding margins, resulting in strong revenue and net income gains since 2020. Its gigafactories in Shanghai, China, and Berlin, Germany, should help Tesla reduce export-related red tape and tariffs for upcoming EVs, resulting in lower overseas prices and increased sales. And Tesla has begun hiring for its new  “megafactory” near Houston.

R&D Paying Off: Thanks to its FSD and robotaxi R&D, Tesla is leading, well ahead of GM’s Cruise and Alphabet’s Waymo. Chinese companies like Apollo Go and WeRide are viewed as better-equipped robotaxi competitors in a field that may soon grow rapidly. Musk said Tesla plans to have 500 robotaxis in Austin and 1,000 in Silicon Valley by year-end.

Diversified Business Segments: Tesla’s Supercharger, energy, and battery businesses have grown rapidly, further distinguishing it from its EV peers as a company with many more technological initiatives. Musk recently announced plans for a large Optimus robot production line in Fremont, California.

Tesla Stock Forecast Through 2030

Wall Street’s consensus 12-month price target for Tesla is $392.93 per share, but that is 12.0% lower than the most recent closing price. On average, analysts recommend holding shares. Stifel recently maintained its Buy rating and raised its price target, citing progress in the robotaxi and FSD initiatives. Mizuho reiterated an Outperform rating but lowered its price target, due in part to EV subsidy cuts in the U.S. and China. Wedbush has the street-high $600 price target on the stock.

24/7 Wall St.’s year-end price target for Tesla is $351.73, which likewise shows no upside potential. Our forecast through the end of the decade is based on the company seeing projected revenue growth climb from $112.09 billion in 2025 to $297.43 billion in 2030, alongside normalized EPS growth of $1.91 in 2025 to $11.24 in 2030.

Year
Normalized EPS
Projected Revenue
Projected Stock Price
Potential Upside

2025
$1.91
$112.091 B
$351.73
−21.3%

2026
$2.98
$133.938 B
$461.73
3.4%

2027
$3.84
$155.708 B
$556.71
24.6%

2028
$5.76
$193.500 B
$837.58
87.5%

2029
$8.60
$248.572 B
$980.46
119.5%

2030
$11.24
$297.430 B
$1,116.86
150.0%

Tesla Bull, Base, and Bear Stock Price Prediction and Forecast

The F/m US Treasury 6 Month Bill ETF (XBIL - Free Report) was launched on 03/07/2023, and is a smart beta exchange traded fund designed to offer broad exposure to the Government Bond ETFs category of the market.

What Are Smart Beta ETFs?Products that are based on market cap weighted indexes, which are strategies designed to reflect a specific market segment or the market as a whole, have traditionally dominated the ETF industry.

A good option for investors who believe in market efficiency, market cap weighted indexes offer a low-cost, convenient, and transparent way of replicating market returns.

If you're the kind of investor who would rather try and beat the market through good stock selection, then smart beta funds are your best choice; this fund class is known for tracking non-cap weighted strategies.

These indexes attempt to select stocks that have better chances of risk-return performance, based on certain fundamental characteristics or a combination of such characteristics.

While this space offers a number of choices to investors, including simplest equal-weighting, fundamental weighting and volatility/momentum based weighting methodologies, not all these strategies have been able to deliver superior results.

Fund Sponsor & IndexThe fund is sponsored by Us Benchmark Series. It has amassed assets over $755.66 million, making it one of the average sized ETFs in the Government Bond ETFs. XBIL, before fees and expenses, seeks to match the performance of the BBG US TRSR BELLWETHER 6M TR USD UNHG ID.

The Bloomberg US Treasury Bellwether 6M Total Return USD Unhedged Index tracks the most recent or on-the-run 6 Month US Treasury security and is rebalanced on the last day of each month.

Cost & Other ExpensesFor ETF investors, expense ratios are an important factor when considering a fund's return; in the long-term, cheaper funds actually have the ability to outperform their more expensive cousins if all other things remain the same.

Operating expenses on an annual basis are 0.15% for XBIL, making it on par with most peer products in the space.

It has a 12-month trailing dividend yield of 4.06%.

Sector Exposure and Top HoldingsETFs offer diversified exposure and thus minimize single stock risk, but it is still important to delve into a fund's holdings before investing. Most ETFs are very transparent products and many disclose their holdings on a daily basis.

Looking at individual holdings, United States Treasury Bill 04/30/2026 (912797SN8) accounts for about 68.96% of total assets, followed by United States Treasury Bill 05/07/2026 (912797SP3) and Cash & Other (Cash&Other).

XBIL's top 10 holdings account for about 100% of its total assets under management.

Performance and RiskThe ETF has added roughly 3.77% so far this year and is up about 4.17% in the last one year (as of 12/04/2025). In the past 52-week period, it has traded between $49.99 and $50.21

XBIL has a beta of 0.00 and standard deviation of 0.38% for the trailing three-year period. With about 3 holdings, it has more concentrated exposure than peers .

AlternativesF/m US Treasury 6 Month Bill ETF is a reasonable option for investors seeking to outperform the Government Bond ETFs segment of the market. However, there are other ETFs in the space which investors could consider.

State Street SPDR Bloomberg 1-3 Month T-Bill ETF (BIL) tracks Bloomberg Barclays 1-3 Month U.S. Treasury Bill Index and the iShares 0-3 Month Treasury Bond ETF (SGOV) tracks ICE 0-3 MONTH US TREASURY SECURITIES IND. State Street SPDR Bloomberg 1-3 Month T-Bill ETF has $43.07 billion in assets, iShares 0-3 Month Treasury Bond ETF has $63.23 billion. BIL has an expense ratio of 0.14% and SGOV changes 0.09%.

Investors looking for cheaper and lower-risk options should consider traditional market cap weighted ETFs that aim to match the returns of the Government Bond ETFs

Bottom LineTo learn more about this product and other ETFs, screen for products that match your investment objectives and read articles on latest developments in the ETF investing universe, please visit Zacks ETF Center.

Designed to provide broad exposure to the Large Cap Blend segment of the US equity market, the FlexShares US Quality Large Cap ETF (QLC - Free Report) is a passively managed exchange traded fund launched on September 23, 2015.

The fund is sponsored by Flexshares. It has amassed assets over $709.10 million, making it one of the average sized ETFs attempting to match the Large Cap Blend segment of the US equity market.

Why Large Cap BlendCompanies that fall in the large cap category tend to have a market capitalization above $10 billion. Considered a more stable option, large cap companies boast more predictable cash flows and are less volatile than their mid and small cap counterparts.

Typically holding a combination of both growth and value stocks, blend ETFs also demonstrate qualities seen in value and growth investments.

CostsExpense ratios are an important factor in the return of an ETF and in the long term, cheaper funds can significantly outperform their more expensive counterparts, other things remaining the same.

Annual operating expenses for this ETF are 0.25%, putting it on par with most peer products in the space.

It has a 12-month trailing dividend yield of 0.91%.

Sector Exposure and Top HoldingsETFs offer a diversified exposure and thus minimize single stock risk but it is still important to delve into a fund's holdings before investing. Most ETFs are very transparent products and many disclose their holdings on a daily basis.

This ETF has heaviest allocation to the Information Technology sector -- about 35.4% of the portfolio. Financials and Telecom round out the top three.

Looking at individual holdings, Nvidia Corp Common Stock Usd 0.001 (NVDA) accounts for about 7.64% of total assets, followed by Apple Inc Common Stock Usd 0.00001 (AAPL) and Microsoft Corp Common Stock Usd 0.00000625 (MSFT).

The top 10 holdings account for about 38.53% of total assets under management.

Performance and RiskQLC seeks to match the performance of the Northern Trust Quality Large Cap Index before fees and expenses. The Northern Trust Quality Large Cap Index is designed to measure the performance of a universe of large capitalization securities which demonstrate characteristics of better quality, attractive valuation and positive momentum.

The ETF return is roughly 22.6% so far this year and is up roughly 19.41% in the last one year (as of 12/04/2025). In the past 52-week period, it has traded between $56.84 and $81.04.

The ETF has a beta of 1.00 and standard deviation of 15.1% for the trailing three-year period, making it a medium risk choice in the space. With about 169 holdings, it effectively diversifies company-specific risk.

AlternativesFlexShares US Quality Large Cap ETF holds a Zacks ETF Rank of 2 (Buy), which is based on expected asset class return, expense ratio, and momentum, among other factors. Because of this, QLC is an excellent option for investors seeking exposure to the Style Box - Large Cap Blend segment of the market. There are other additional ETFs in the space that investors could consider as well.

The iShares Core S&P 500 ETF (IVV) and the Vanguard S&P 500 ETF (VOO) track a similar index. While iShares Core S&P 500 ETF has $733.71 billion in assets, Vanguard S&P 500 ETF has $803.25 billion. IVV has an expense ratio of 0.03% and VOO charges 0.03%.

Bottom-LineWhile an excellent vehicle for long term investors, passively managed ETFs are a popular choice among institutional and retail investors due to their low costs, transparency, flexibility, and tax efficiency.

To learn more about this product and other ETFs, screen for products that match your investment objectives and read articles on latest developments in the ETF investing universe, please visit Zacks ETF Center.

Launched on 10/18/2012, the Invesco S&P 500 High Dividend Low Volatility ETF (SPHD - Free Report) is a smart beta exchange traded fund offering broad exposure to the Style Box - Large Cap Value category of the market.

What Are Smart Beta ETFs?The ETF industry has long been dominated by products based on market cap weighted indexes, a strategy created to reflect the market or a particular market segment.

Market cap weighted indexes offer a low-cost, convenient, and transparent way of replicating market returns, and are a good option for investors who believe in market efficiency.

On the other hand, some investors who believe that it is possible to beat the market by superior stock selection opt to invest in another class of funds that track non-cap weighted strategies--popularly known as smart beta.

By attempting to pick stocks that have a better chance of risk-return performance, non-cap weighted indexes are based on certain fundamental characteristics, or a combination of such.

This area offers many different investment choices, such as simplest equal-weighting, fundamental weighting and volatility/momentum based weighting methodologies; however, not all of these strategies can deliver superior results.

Fund Sponsor & IndexThe fund is sponsored by Invesco. It has amassed assets over $3.06 billion, making it one of the larger ETFs in the Style Box - Large Cap Value. Before fees and expenses, SPHD seeks to match the performance of the S&P 500 Low Volatility High Dividend Index.

The S&P 500 Low Volatility High Dividend Index comprises of 50 securities traded on the S&P 500 Index that historically have provided high dividend yields and low volatility.

Cost & Other ExpensesInvestors should also pay attention to an ETF's expense ratio. Lower cost products will produce better results than those with a higher cost, assuming all other metrics remain the same.

Operating expenses on an annual basis are 0.30% for this ETF, which makes it on par with most peer products in the space.

It has a 12-month trailing dividend yield of 3.87%.

Sector Exposure and Top HoldingsETFs offer diversified exposure and thus minimize single stock risk, but it is still important to delve into a fund's holdings before investing. Most ETFs are very transparent products and many disclose their holdings on a daily basis.

Representing 22.8% of the portfolio, the fund has heaviest allocation to the Real Estate sector; Consumer Staples and Utilities round out the top three.

Looking at individual holdings, Pfizer Inc (PFE) accounts for about 2.96% of total assets, followed by Altria Group Inc (MO) and Healthpeak Properties Inc (DOC).

Its top 10 holdings account for approximately 26.12% of SPHD's total assets under management.

Performance and RiskSo far this year, SPHD has gained about 3.12%, and is down about -1.67% in the last one year (as of 12/04/2025). During this past 52-week period, the fund has traded between $44.37 and $50.72.

SPHD has a beta of 0.67 and standard deviation of 13.46% for the trailing three-year period, which makes the fund a medium risk choice in the space. With about 53 holdings, it effectively diversifies company-specific risk .

AlternativesInvesco S&P 500 High Dividend Low Volatility ETF is a reasonable option for investors seeking to outperform the Style Box - Large Cap Value segment of the market. However, there are other ETFs in the space which investors could consider.

Schwab U.S. Dividend Equity ETF (SCHD) tracks Dow Jones U.S. Dividend 100 Index and the Vanguard Value ETF (VTV) tracks CRSP U.S. Large Cap Value Index. Schwab U.S. Dividend Equity ETF has $71.68 billion in assets, Vanguard Value ETF has $153.66 billion. SCHD has an expense ratio of 0.06% and VTV changes 0.04%.

Investors looking for cheaper and lower-risk options should consider traditional market cap weighted ETFs that aim to match the returns of the Style Box - Large Cap Value

Bottom LineTo learn more about this product and other ETFs, screen for products that match your investment objectives and read articles on latest developments in the ETF investing universe, please visit Zacks ETF Center.

Designed to provide broad exposure to the High-Yield/Junk Bond ETFs category of the market, the Invesco Fundamental High Yield Corporate Bond ETF (PHB - Free Report) is a smart beta exchange traded fund launched on 11/15/2007.

What Are Smart Beta ETFs?The ETF industry has traditionally been dominated by products based on market capitalization weighted indexes that are designed to represent the market or a particular segment of the market.

A good option for investors who believe in market efficiency, market cap weighted indexes offer a low-cost, convenient, and transparent way of replicating market returns.

If you're the kind of investor who would rather try and beat the market through good stock selection, then smart beta funds are your best choice; this fund class is known for tracking non-cap weighted strategies.

By attempting to pick stocks that have a better chance of risk-return performance, non-cap weighted indexes are based on certain fundamental characteristics, or a combination of such.

While this space offers a number of choices to investors, including simplest equal-weighting, fundamental weighting and volatility/momentum based weighting methodologies, not all these strategies have been able to deliver superior results.

Fund Sponsor & IndexThe fund is sponsored by Invesco. It has amassed assets over $395.38 million, making it one of the average sized ETFs in the High-Yield/Junk Bond ETFs. Before fees and expenses, this particular fund seeks to match the performance of the RAFI Bonds US High Yield 1-10 Index.

The RAFI Bonds US High Yield 1-10 Index is comprised of US dollar-denominated bonds that are registered with the SEC or that are Rule 144A securities that provide for registration rights and whose issuers are public companies listed on a major US stock exchange.

Cost & Other ExpensesInvestors should also pay attention to an ETF's expense ratio. Lower cost products will produce better results than those with a higher cost, assuming all other metrics remain the same.

Operating expenses on an annual basis are 0.50% for this ETF, which makes it on par with most peer products in the space.

The fund has a 12-month trailing dividend yield of 5.48%.

Sector Exposure and Top HoldingsEven though ETFs offer diversified exposure which minimizes single stock risk, it is still important to look into a fund's holdings before investing. Luckily, most ETFs are very transparent products that disclose their holdings on a daily basis.

Taking into account individual holdings, Albertsons Cos Inc / Safeway Inc / New Albertsons Lp / Albertsons Llc-6.25%-03-15-2033 (ACI) accounts for about 1.18% of the fund's total assets, followed by Pg&e Corp-5.25%-07-01-2030 (PCG) and Synchrony Financial-7.25%-02-02-2033 (SYF).

The top 10 holdings account for about 10.13% of total assets under management.

Performance and RiskThe ETF has added roughly 8.25% so far this year and is up roughly 6.91% in the last one year (as of 12/04/2025). In the past 52-week period, it has traded between $17.50 and $18.72

The ETF has a beta of 0.38 and standard deviation of 5.45% for the trailing three-year period, making it a high risk choice in the space. With about 266 holdings, it effectively diversifies company-specific risk .

AlternativesInvesco Fundamental High Yield Corporate Bond ETF is a reasonable option for investors seeking to outperform the High-Yield/Junk Bond ETFs segment of the market. However, there are other ETFs in the space which investors could consider.

iShares iBoxx $ High Yield Corporate Bond ETF (HYG) tracks Markit iBoxx USD Liquid High Yield Index and the iShares Broad USD High Yield Corporate Bond ETF (USHY) tracks BofA Merrill Lynch U.S. High Yield Constrained Index. iShares iBoxx $ High Yield Corporate Bond ETF has $18.6 billion in assets, iShares Broad USD High Yield Corporate Bond ETF has $25.46 billion. HYG has an expense ratio of 0.49% and USHY changes 0.08%.

Investors looking for cheaper and lower-risk options should consider traditional market cap weighted ETFs that aim to match the returns of the High-Yield/Junk Bond ETFs

Bottom LineTo learn more about this product and other ETFs, screen for products that match your investment objectives and read articles on latest developments in the ETF investing universe, please visit Zacks ETF Center.

The BNY Mellon US Mid Cap Core Equity ETF (BKMC - Free Report) was launched on April 9, 2020, and is a passively managed exchange traded fund designed to offer broad exposure to the Mid Cap Blend segment of the US equity market.

The fund is sponsored by Bny Mellon. It has amassed assets over $606.56 million, making it one of the average sized ETFs attempting to match the Mid Cap Blend segment of the US equity market.

Why Mid Cap BlendCompared to large and small cap companies, mid cap businesses tend to have higher growth prospects and are less volatile, respectively, with market capitalization between $2 billion and $10 billion. Thus they have a nice balance of growth potential and stability.

Blend ETFs are aptly named, since they tend to hold a mix of growth and value stocks, as well as show characteristics of both kinds of equities.

CostsCost is an important factor in selecting the right ETF, and cheaper funds can significantly outperform their more expensive counterparts if all other fundamentals are the same.

Annual operating expenses for this ETF are 0.04%, making it one of the least expensive products in the space.

It has a 12-month trailing dividend yield of 1.42%.

Sector Exposure and Top HoldingsWhile ETFs offer diversified exposure, which minimizes single stock risk, a deep look into a fund's holdings is a valuable exercise. And, most ETFs are very transparent products that disclose their holdings on a daily basis.

This ETF has heaviest allocation to the Industrials sector -- about 24.2% of the portfolio. Financials and Information Technology round out the top three.

Looking at individual holdings, Sandisk Corp (SNDK) accounts for about 1% of total assets, followed by Bloom Energy Corp- A (BE) and Curtiss-Wright Corp (CW).

The top 10 holdings account for about 5.93% of total assets under management.

Performance and RiskBKMC seeks to match the performance of the SOLACTIVE GBS UNITED STATES 400 INDEX before fees and expenses. The Solactive GBS United States 400 Index intends to track the performance of the largest 400 mid cap companies from the US stock market and is based on the Solactive Global Benchmark Series.

The ETF return is roughly 8.58% so far this year and is up roughly 1.29% in the last one year (as of 12/04/2025). In the past 52-week period, it has traded between $83.55 and $110.12.

The ETF has a beta of 1.05 and standard deviation of 17.54% for the trailing three-year period. With about 409 holdings, it effectively diversifies company-specific risk.

AlternativesBNY Mellon US Mid Cap Core Equity ETF carries a Zacks ETF Rank of 3 (Hold), which is based on expected asset class return, expense ratio, and momentum, among other factors. Thus, BKMC is a reasonable option for those seeking exposure to the Style Box - Mid Cap Blend area of the market. Investors might also want to consider some other ETF options in the space.

The Vanguard Mid-Cap ETF (VO) and the iShares Core S&P Mid-Cap ETF (IJH) track a similar index. While Vanguard Mid-Cap ETF has $89.42 billion in assets, iShares Core S&P Mid-Cap ETF has $101.26 billion. VO has an expense ratio of 0.04% and IJH charges 0.05%.

Bottom-LinePassively managed ETFs are becoming increasingly popular with institutional as well as retail investors due to their low cost, transparency, flexibility and tax efficiency. They are excellent vehicles for long term investors.

To learn more about this product and other ETFs, screen for products that match your investment objectives and read articles on latest developments in the ETF investing universe, please visit Zacks ETF Center.

Dollar General lifted its outlook for the year as it logged higher profit and sales in its third quarter, boosted by market share gains across both consumable and non-consumable categories.

Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017,
aiming to provide informative insights to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy,
our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a
rigorous Review Methodology when evaluating exchanges and tools. From emerging
blockchain projects and coin launches to industry events and technical developments, we cover
all facets of the digital asset space with unwavering commitment to timely, relevant information.

Tom Lee’s Bitmine has continued buying Ethereum despite the broader treasury companies lagging in the trend. The firm bought ETH worth $150 million that increased its ownership of the token supply to 3%.

BitMine Extends Aggressive ETH Accumulation
The Ethereum treasury firm founded by Fundstrat’s Tom Lee has continued to buy ETH, adding another $150 million on Wednesday. On-chain data from Arkham shows the firm accumulated 18,345 ETH through BitGo and another 30,278 ETH via Kraken.

Source: X
The buy comes amid a trend of major purchases over the past few days. Late last week, BitMine acquired 14,618 ETH valued at about $44 million to add more depth to its already large holdings.

The buying spree did not stop there, as on Monday, the company executed yet another purchase for 96,798 ETH. This means that its Ethereum treasury now exceeds 3% of the token’s circulating supply.

It has consistently expressed its goal of building up to 5% of the total supply of Ethereum. This is in a bid to tap into ETH’s rising role in settlement systems, tokenization, and wider financial services. 

However, the firm’s stock, BMNR, had fallen over 81% from its peak. This means investor confidence has dropped in its offerings. The value of its treasury is now around $12 billion. The company sits on unrealized losses of an estimated $2.8 billion.

Source: Drops Tab
DAT Market Sees 81% Drop in Monthly Purchases
BitMine’s continued buying stands is in contrast to the broader Ethereum DAT market. According to Bitwise, treasury purchases have collapsed 81%. It fell to just 370,000 ETH in November down deeply from the August peak of 1.97 million ETH.

Source: Bitwise
The DAT structure is currently experiencing a serious challenge. Many small treasuries is close to bankruptcy as mNAV multiples and premiums are dropping.

Max Shannon, senior research associate at Bitwise, explained the decline. “Treasuries were this cycle’s version of an altseason. The same pattern is now repeating, too many players, not enough capital to sustain demand.”

Shannon noted that mNAVs are falling, premiums are compressing, and purchasing power is evaporating. 

“Purchases still exceed monthly supply for now, but the gap is closing quickly. “The unwind is underway,” he said.

This is a reversal from the trend of purchases as seen earlier in the year.  For instance, SharpLink Gaming was consistent in making purchases of token. In August, the firm acquired more than $100 million in ETH.

Babylon Labs and Aave Labs partner to introduce groundbreaking native bitcoin collateralization in DeFi lending ecosystem. Babylon Labs and Aave Labs have announced a strategic partnership to enable native bitcoin-backed lending through Aave V4's innovative Hub and Spoke architecture on December 3, 2025.

TAO is today's top performer, followed by ZEC.

Bitcoin’s impressive rebound following the Monday crash continued in the past 24 hours as the asset briefly exceeded $94,000 to mark a new multi-week peak.

Ethereum has popped up as the biggest gainer from the larger-cap alts after the successful activation of the Fusaka upgrade.

BTC Tapped $94K
Following the brutal sell-off in the middle and late November, the primary cryptocurrency managed to recover a portion of the losses at the end of the month and surged past $90,000. However, December started with a bang in the opposite direction once again, as the asset plunged by several grand to under $84,000 on Monday and Tuesday morning.

The bulls, though, were quick to intercept this move and didn’t allow another breakdown. Just the opposite, BTC started to recover ground rapidly and was soon trading above $90,000 once again.

On Wednesday and Thursday morning, it managed to exceed $94,000 for the first time since November 17. However, that level has turned out to be a very high mountain to climb for now, and bitcoin now trades below that line.

Nevertheless, its market cap remains above $1.860 trillion, while its dominance over the altcoins is just over 57% on CG.

BTCUSD Dec 4. Source: TradingView
ETH Jumps After Fusaka
Perhaps the most notable development in the cryptocurrency industry yesterday was the successful activation of the Fusaka update for Ethereum. Once it went live, the underlying asset started rallying, jumping by over 5% at one point to more than $3,250, which became a three-week peak.

The rest of the larger-cap alts are a lot more sluggish, with BNB, SOL, TRX, ADA, and HYPE posting some gains, while XRP, DOGE, XLM, and BCH are trading in the red. SUI, HBAR, and CC have dropped by up to 4%, while TAO has rocketed by more than 8% and sits above $310 as of now.

The total crypto market cap has added around $40 billion in a day and is above $3.260 trillion.

Cryptocurrency Market Overview Dec 4. Source: QuantifyCrypto

The BONK ecosystem has introduced a major update to how platform fees are distributed, marking one of the project’s most significant structural shifts to date. The new model is designed to accelerate long-term BONK accumulation for Bonk Holdings Inc. (BNKK) through its Digital Asset Trust (DAT).

Bonk.fun Redirects Majority of Fees to DAT PurchasesIn a recent announcement on X, Bonk.fun revealed that 51% of all platform fees will now be channeled directly into DAT purchases. This represents a dramatic jump from the previous 10% allocation.

Starting today, 51% of the BONKfun fees will be used for the BNKK DAT buying of BONK.

The 51% of fee distribution will come from the prior 35% of Buy/Burn, 4% SBR and 2% from BONKrewards categories and add to the existing 10% currently being used for the BNKK DAT.

With these… pic.twitter.com/pz8e7008vg

— BONK.fun (@bonkfun) December 4, 2025 To support the new structure, the team has:

Reassigned the earlier 35% buy-and-burn allocationAdjusted parts of the SBR and BONK rewards poolsKept all community-driven budgets unchangedAlthough the sources of fee distribution have shifted, Bonk.fun emphasized that the overall buy pressure on BONK remains steady.

This overhaul follows BNKK’s $32 million BONK acquisition in October, which officially launched the DAT. The company recently expanded its influence further by securing a majority revenue share in Bonk.fun worth roughly $30 million, strengthening its position in the ecosystem.

BNKK Pushes Toward Greater BONK Supply ControlBNKK board director Mitchell Rudy explained that gaining a 51% revenue interest gives the company a stronger foundation for structured BONK accumulation.

“We’re building a fortress balance sheet that secures long-term value,” Rudy said.

Noting that the new setup enhances BNKK’s ability to maintain a meaningful share of the token supply.

Bonk.fun’s strong performance is also part of the equation — the platform generated nearly $30 million in revenue in July 2025 alone, underscoring its liquidity strength during supportive market phases.

BONK Makes Its European Debut With First ETP ListingBONK has also taken a major step toward mainstream accessibility. Last week, Bitcoin Capital AG launched the first BONK Exchange-Traded Product (ETP) on Switzerland’s SIX Swiss Exchange, opening the door for both retail and institutional investors to gain exposure to the meme token without needing a crypto wallet.

Bitcoin Capital CEO Marcel Niederberger highlighted the product’s simplicity: “With BONK now listed on SIX, investors can access it as easily as buying a stock.”

The ETP is fully backed, meaning each share is supported by actual tokens held in custody. Despite the milestone, BONK’s price has remained relatively stable since the listing.

BONK Price Near a Potential Turning PointBONK Price is currently trading near $0.00000974, positioned along the lower edge of its Bollinger Band, typically a zone where downward momentum begins to ease. The RSI sits at 44 with a mildly positive MACD, indicating early signs of stabilization.

Key levels to watch:

Break above $0.00001100 → potential move toward $0.00001500Drop below $0.00000850 → risk of decline to $0.00000700While the chart remains in a downward trend, BONK’s updated fee model and BNKK’s structured push toward increasing its supply share could become influential drivers in 2025.

Never Miss a Beat in the Crypto World!Stay ahead with breaking news, expert analysis, and real-time updates on the latest trends in Bitcoin, altcoins, DeFi, NFTs, and more.

FAQsWhat is the new BONK fee distribution model on Bonk.fun?

Bonk.fun now sends 51% of all platform fees directly to buy BONK for the Digital Asset Trust (DAT) owned by Bonk Holdings Inc.—a big increase from the earlier 10%. This creates steady, structured buying pressure.

How does the BONK DAT benefit holders?

The DAT steadily buys BONK using platform fees, helping support demand and giving the ecosystem a more structured, long-term growth approach.

What is the BONK ETP on the SIX Swiss Exchange?

The BONK ETP lets investors buy BONK like a regular stock, offering simple, fully backed exposure without needing a crypto wallet.

Trust with CoinPedia:CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.

Investment Disclaimer:All opinions and insights shared represent the author's own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.

Sponsored and Advertisements:Sponsored content and affiliate links may appear on our site. Advertisements are marked clearly, and our editorial content remains entirely independent from our ad partners.

Bitcoin (BTC) clawed back from $86,286 on Dec. 2 to $93,324 as of press time, up by 8%, while the Trump family’s American Bitcoin (ABTC) shares tumbled.

The BTC price increase can be attributed to improved macro conditions and Vanguard’s opening of crypto ETF access to tens of millions of clients.

At the same time, American Bitcoin, the Trump-linked mining stock pitched as a Bitcoin proxy, cratered as much as 50% intraday on volume about ten times normal, triggering repeated trading halts before settling around 35% lower.

The stock now sits about 80% below its September peak of $9.40, even as the asset it’s supposed to track staged a textbook relief rally.

The moves ran in opposite directions because they responded to entirely different catalysts.

Bitcoin bounced because the macro tide turned back in its favor, with the Fed’s quantitative tightening ending, rate-cut odds rising, and ETF distribution channels widening. ABTC dumped because a wall of new stock hit a tiny, hype-driven float all at once as the first major lock-up expiry freed pre-merger and private-placement shares.

The “proxy trade” broke because those two stories have almost nothing to do with each other over a 24-hour window.

The divergence exposes what happens when a levered, politically branded equity wrapper stops behaving like the thing it’s supposed to track. For months, ABTC traded as if it were a synthetic Bitcoin bet with a Trump-family premium baked in.

Then the lock-up expired, early investors dumped, and the proxy trade proved to be exactly that: a trade, not a synthetic ETF.

How Bitcoin clawed back toward $93,000Bitcoin rebound can be tied to the Fed formally ending quantitative tightening and futures markets now pricing an almost 90% chance of another rate cut at the Dec. 10 FOMC meeting.

That shift eased the “macro shock” that had just knocked BTC below $90k. At the same time, a second narrative tailwind arrived from the ETF channel. Vanguard, which was a big anti-crypto holdout, reversed course and opened access to Bitcoin and other crypto ETFs for its tens of millions of clients.

Despite these developments not changing Bitcoin’s float or capital structure, they change how much people are willing to pay for the same 21 million-cap asset.

The price moved because the macro backdrop improved and distribution channels widened, not because anything fundamental shifted in the network itself.

Why ABTC slumped anywayAmerican Bitcoin is structurally different. It’s a majority-owned Hut 8 subsidiary that mines BTC and runs a “Bitcoin accumulation” balance-sheet strategy, with several thousand BTC on its books and a mandate to build a US-centric mining and treasury platform.

That setup encouraged traders and some commentators to pitch ABTC as a “Bitcoin proxy” or even a kind of Trump-branded mini-Strategy.

As part of going public, the company sold privately issued stock to raise about $220 million, with insiders explicitly stating they expected it to trade as a Bitcoin proxy.

The crash, though, was about the supply of shares, not the hashpower or the BTC price. The Dec. 2 plunge coincided with the first major lock-up expiry for pre-merger and private-placement shares.

As those previously restricted blocks became freely tradable, early investors dumped stock into the open market, sending ABTC down roughly 35% to 50% intraday, on volume about 10 times normal, and triggering repeated trading halts.

Management is openly framing it as a technical event. American Bitcoin president Matt Prusak told investors on X that the team “expected the next few days to be choppy as those shares find new homes.”

Meanwhile, Reuters reported that Hut 8, Eric Trump, and Donald Trump Jr. say they did not sell into the unlock and continue to hold. But whether or not insiders sold is almost beside the point: tens or hundreds of millions of dollars’ worth of previously caged stock just hit a thin float in one shot. That’s why ABTC sank even as BTC was bouncing.

Why the “proxy trade” crackedThree structural forces broke the ABTC/BTC link on this move, and none of them resolved quickly.

First, the float changed, but Bitcoin’s didn’t. BTC’s circulating supply is predictable and changes slowly. ABTC’s free float just jumped with the unlocking of pre-merger and private placement stock.

That floods the order book with sellers who paid much lower prices months ago and are happy to take profits or de-risk, regardless of what BTC does on a given day.

The result is exactly what the market saw: Bitcoin up in the mid-single digits, the proxy down by almost half.

Second, ABTC carries equity-specific and Trump-specific risk that Bitcoin itself doesn’t. Trump-linked crypto ventures, such as memecoins like TRUMP and MELANIA, are down more than 90% from their peaks.

Additionally, Trump Media & Technology Group has lost over 60% of its value this year, and ALT5 Sigma, which holds tokens in another Trump crypto venture, is down by a similar margin and under SEC scrutiny.

When the “Trump crypto complex” is in free fall, ABTC stops trading as a pure macro Bitcoin bet and becomes a political and governance story.

Third, miners are levered, idiosyncratic wrappers even in normal times. ABTC’s business is a leveraged play on hash price, power costs, execution, and financing terms, wrapped in a small-cap stock that just came public via a reverse merger.

A lock-up expiry in that context magnifies every other concern: investors worry about dilution, overhang, insider incentives, and the possibility that early backers know something they don’t.

On one side of the chart, BTC has just staged a textbook macro relief rally: Fed QT is over, rate-cut odds are rising, Vanguard finally opened its doors to crypto ETFs, and flows into spot products have turned positive again.

On the other side, ABTC is digesting an entirely different shock: the first wave of locked-up Trump-linked miner stock hitting a thin float all at once, in a sector where sentiment toward crypto equities and Trump-brand tokens is already brittle.

That gives a clear explanation for the divergence: the proxy broke because it was never really Bitcoin in the first place.

Mentioned in this article