Market Signal Briefing

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A view of the Mild Hydrocracking Unit (MHC) at the Dangote Petroleum Refinery in Lagos, Nigeria, July 20, 2024. REUTERS/Marvellous Durowaiye/File Photo Purchase Licensing Rights, opens new tab

CompaniesDUBAI, Nov 25 (Reuters) - Nigeria's Dangote has tapped Honeywell

(HON.O), opens new tab to provide services and help double its refining capacity to 1.4 million barrels per day by 2028, in what is the clearest indication yet that its plans to become the world's largest petroleum refinery are bearing fruit.

The agreement will allow Dangote to process a broader range of crude grades to help support the planned expansion in output with the help of Honeywell's catalysts and equipment, the companies said on Tuesday.

Sign up here.

Dangote will also look to increase its total production of polypropylene - an industrial material widely used to produce plastic containers and car parts - to 2.4 million metric tons per year by licensing Honeywell's Oleflex technology.

Financial terms of the deal were not disclosed. While contracts of such nature tend to vary based on the project's complexity, a source familiar with the situation said it could be valued at over $250 million.

Nigeria is Africa's largest crude oil producer, yet for decades it imported nearly all its refined fuel due to non-functional state-owned refineries, leading to chronic fuel shortages, subsidy scandals, and heavy pressure on foreign exchange reserves.

The Dangote refinery, which is Africa's largest and the world's biggest single-train facility at 650,000 barrels per day, is designed to reverse this paradox by meeting all of Nigeria's domestic fuel needs and creating surplus for export.

With $20 billion spent to build the refinery in Lekki, Lagos, Dangote last month laid out plans to double the plant capacity to 1.4 million barrels per day by adding a second single-train unit over the next three years.

At that capacity, Dangote would be able to process nearly all of Nigeria's current crude production of around 1.5 million bpd.

The agreement comes as Honeywell, once a conglomerate that is now in the process of splitting itself up, is shoring up revenues ahead of a planned carve-out of its aerospace business, which is currently its biggest cash cow.

Reporting by Utkarsh Shetti in Dubai; Editing by Daniel Wallis

Our Standards: The Thomson Reuters Trust Principles., opens new tab

A new spot ETF has the crypto investing crowd paying even more attention to Dogecoin.

With the overall market capitalization of all cryptocurrencies surging 2.6% over the past 24 hours, most investors would rightly expect to see meme token Dogecoin (DOGE +1.34%) increase by an even wider margin.

Such was the case today, with the world's top meme crypto rising 4.6% over the past 24 hours, as of 6 p.m. ET.

As it turns out, it wasn't only market forces driving most of this move today. Dogecoin has one key catalyst that investors are honing in on right now.

Let's dive in.

New spot ETF launch driving capital flows into Dogecoin

Source: Getty Images.

It's important to keep today's rise in context. Dogecoin started the year trading around $0.40 per token, and is currently trading right around the $0.15 level. Thus, today's surge is meaningful for investors who bought this token recently, but there will still be plenty of investors patiently waiting for a much more impressive rally.

That said, news that Grayscale has successfully launched the first-ever spot ETF tracking the price of Dogecoin is meaningful to investors, for a few different reasons.

First, this fund legitimizes Dogecoin as an investment with institutional backing. I must admit, I was unsure whether we'd see the day when a company like Grayscale would introduce such an investment vehicle, but the future waits for no one.

Second, the fund's fundamentals are impressive, with the company waiving its 0.35% management fee until the ETF reaches $1 billion in assets under management or reaches three months old. That feature alone should drive substantial capital toward this particular digital asset, although I imagine many retail investors were lining up to participate in this offering.

Ultimately, we'll have to see what this launch means for Dogecoin in a month or two. For now, this will remain one of the top cryptocurrencies I watch closely, and I will provide updates as they come in regarding capital flows in and out of this particular ETF.

Chris MacDonald 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.

After more than three months of persistent decline, Hedera (HBAR) is now flashing some of the strongest bullish indicators seen since mid-2024. The token, which has been in a heavy downtrend since August, is showing renewed momentum across spot and derivatives markets, with multiple reversal signals appearing simultaneously on the charts.

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Ethereum (ETH) is showing early signs of stabilization after a turbulent month, bouncing back above the crucial $2,800 level as fresh institutional inflows reignite optimism across the market.

Related Reading: Bitcoin Quantum-Break Catastrophe Is Pure FUD, Says Gabor Gurbacs

ETH currently trades near $2,821, up modestly over the past 24 hours, with traders closely watching to see whether this rebound can evolve into a sustained trend reversal. The renewed momentum follows major accumulation from BitMine, which has doubled down on its Ethereum strategy despite steep market drawdowns.

ETH's price trends to the downside on the daily chart. Source: ETHUSD on Tradingview
BitMine’s $59M ETH Accumulation Sparks Fresh Investor Confidence
The catalyst for Ethereum’s latest recovery came on November 23, when blockchain data confirmed that BitMine acquired 21,537 ETH worth roughly $59–60 million. The purchase increases the company’s total holdings to more than 3.5 million ETH, equivalent to approximately 3% of Ethereum’s circulating supply.

While Ethereum prices have fallen nearly 30% in the last month, BitMine maintains that the downturn stems from a temporary liquidity shock rather than deteriorating fundamentals.

Bitmine is simultaneously expanding its ecosystem footprint through its upcoming MAVAN staking network, expected to launch in early 2026, and recently announced a dividend issuance, moves that collectively signal long-term conviction.

Investors appear to be taking notice. Exchange reserves have dipped to multi-year lows as whales continue accumulating ETH, even as traditional ETF products face outflows. This divergence suggests deep-pocketed players view the current range as a strategic entry zone.

Ethereum Battles the Downtrend but Momentum Improves
Despite the bounce, Ethereum remains inside a steep descending channel, with resistance stacking between $2,947 and $3,000. This zone contains compressed EMAs, trendline resistance, and the upper Bollinger Band, making it the first major test for buyers.

A clean break above $3,000 could pave the way for ETH to reach $3,120, $3,250, and potentially even $3,450. However, a failure at this level may send ETH back toward $2,760 or lower.

Indicators remain mixed. The RSI near 40 signals oversold conditions, hinting that a reversal may be developing, while the MACD and moving averages still indicate lingering bearish pressure.

Rising open interest and elevated long-short ratios across exchanges reflect aggressive long positioning, momentum that could amplify volatility in either direction.

Institutional Products and Upgrades Add Momentum
Beyond price action, Ethereum continues to gain structural support. The Singapore Exchange just launched regulated ETH perpetual futures, giving institutions a compliant on-ramp. Meanwhile, anticipation builds around Ethereum’s December Fusaka upgrade, expected to deliver meaningful scalability improvements.

With whales accumulating, institutional demand rising, and network upgrades approaching, Ethereum’s rebound above $2,800 may be more than a dead-cat bounce.

Related Reading: JPMorgan Backlash Explodes: Bitcoin Supporters Push Hard For Boycott

But breaking the downtrend ultimately depends on whether buyers can reclaim the $3,000–$3,100 resistance range, a battleground that will determine the next major swing.

Cover image from ChatGPT, ETHUSD chart from Tradingview

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Journalist

Posted: November 25, 2025

Key Takeaways
Why is Bitcoin rotating to new investors?
LTHs have sold 1.4M BTC since March, redistributing supply to ETFs, treasuries, and new market participants—further decentralizing ownership.

What pressure are short-term holders facing now?
STHs are selling at heavy losses, with SOPR near zero, signaling capitulation but also a potential mid-term reversal zone.

Bitcoin is in one of its most bearish phases in a long while. From its all-time high, the asset has declined by roughly 31%.

This decline has sparked debate over whether it marks the start of a broader bear market, based on how Bitcoin [BTC] is moving between different holder cohorts.

AMBCrypto’s analysis explores what long-term and short-term holder behavior, as well as institutional adoption, could mean for price direction.

Long-term holder sell pressure remains high
Long-term holders, typically defined as those holding BTC for more than six months, have added notable pressure to the market.

Since March 2024, these investors have sold at historically high levels, with Alphractal data showing one of the largest sell-offs recorded.

Source: Alphractal

Data also shows that OG long-term holders—classified by the size and duration of their holdings—have shifted behavior, selling portions of their BTC at least four times since March 2024, marking a major change in pattern.

This wave of selling comes amid shrinking profitability, with the realized price at $38,600, while short-term holders have remained comparatively more profitable in the recent cycle.

Is this bad for Bitcoin?
The recent distribution from long-term holders is not necessarily negative for Bitcoin.

To assess this, AMBCrypto compared long-term holder reserves with institutional Bitcoin purchases since March 2024; the same year the broader sell off began.

Data from the 3rd of March 2024 to the 24th of November 2025 showed that long-term holders sold around 1.4 million BTC, valued at approximately $121.17 billion at press time price.

Source: Bitbo

Meanwhile, U.S. spot Bitcoin exchanged traded funds (ETFs) assets under management rose from $42.77 billion on the 1st of March 2024 to $120.82 billion on the 24th of November, indicating institutional investors accumulated roughly $78.05 billion worth of BTC.

This creates a net deficit of about $43 billion between LTH selling and ETF purchases.

However, Bitcoin treasury holdings—now spread across 134 entities—account for 1.686 million BTC, worth around $145 billion.

Using similar calculations, this suggests a net positive inflow of $102 billion into Bitcoin so far, excluding retail and short-term holder activity.

What are short-term holders doing?
Short-term holders have entered a peak loss phase, pointing to exhaustion and lower incentive to keep holding.

The Short-Term Holder SOPR hovered near zero, a zone historically linked to potential reversals.

Source: CryptoQuant

For a sustained recovery, supportive macro conditions would be required. This includes improving sentiment toward risk assets, possible interest rate cuts, and a weakening U.S. dollar.

On the global front, liquidity has remained relatively stable between $25 trillion and $50 trillion, and has yet to show a strong impact on the crypto market, lowering the odds of an immediate liquidity-driven rally.

Notably, this near-zero reading from the STH-SOPR has historically been followed by a rally, at least in the mid-term.

If that pattern holds, Bitcoin could regain the $90,000 region, especially if supported by inflows from traders pricing back into risk assets.

XRPUSD – Daily Chart – 251125 – From Headwinds to Tailwinds
Franklin XRP ETF Takes Center Stage
Franklin Templeton launched its Franklin XRP ETF (XRPZ) on Monday, November 24, spotlighting the token. With $44.7 billion in ETF assets under management, the ETF dwarfs its peers, Bitwise Asset Management, Canary Capital, and Grayscale.

For context, Canary Capital is the lowest-ranked ETF issuer at #231, with ETF AUM of $84.82 million. The Canary XRP ETF (XRPC) reported total net inflows of $306.02 million from launch to Friday, November 21.

Analysts expect the Franklin XRP ETF to attract substantial institutional money, potentially sending XRP to new highs.

Franklin Templeton announced the launch, stating:

“Blockchain innovation is driving fast-growing businesses, and digital asset tokens like XRP serve as powerful incentive mechanisms that help bootstrap decentralized networks and align stakeholder interests. Within a diversified digital portfolio, we view XRP as a foundational building block. XRPZ provides regulated custody, daily transparency, and liquidity without the operational complexity of holding the token directly.”

Fed Rate Cut Bets Soar, Lifting Sentiment
While the XRP-spot ETF market took center stage, rising bets on a December Fed rate cut contributed to the gains. Growing calls for further monetary policy easing lifted demand for risk assets. FOMC member Christopher Waller joined San Francisco President Mary Daly and New York Fed President John Williams, supporting a December cut.

According to the CME FedWatch Tool, the chances of a December cut rose to 84.4% on November 24, up from 71.0% on November 21 and 42.4% on November 17.

US-China Call Removes Another Headwind
In a flurry of activity at the start of the week, positive updates from a US-China call between President Trump and Chinese President Xi eased fears of a full-blown US-China trade war. According to The Kobeissi Letter:

“President Trump releases a statement on his call with China’s President Xi today: Trump says he had a very good call with Xi and that he will be heading to Beijing in April. Trump also says Xi will be coming to the US, and they agreed to communicate often.”

Monday’s call signaled a marked turnaround from Trump’s threat of raising tariffs on Chinese shipments by 100% on October 10. XRP had fallen 35% from October 10 to November 21 before two consecutive daily gains.

Technical Outlook: Key XRP Price Levels
XRP surged 8.73% on Monday, November 24, building on the previous day’s 5.1% rally to close at $2.2286. The token outperformed BTC and the broader market, which gained 1.66% and 2.57%, respectively.

Despite Monday’s rally, the token remained below the 50-day and 200-day Exponential Moving Averages (EMAs), signaling a bearish bias.

Looking ahead, several key events are likely to influence XRP’s price trajectory.

Key technical levels to watch include:

Support levels: $2.2, $2, $1.9112, and $1.8205
50-day EMA resistance: $2.3846.
200-day EMA resistance: $2.5280.
Resistance levels: $2.35, $2.5, $2.62, $2.8, $3.0, and $3.66.

Rebeca Moen
Nov 25, 2025 02:35

Circle announces the integration of USDC, CCTP, wallets, and contracts on the Monad blockchain, enhancing secure and efficient stablecoin payments and crosschain liquidity.

Circle has announced that its USDC stablecoin, Cross-Chain Transfer Protocol (CCTP), wallets, and contracts are now live on the Monad blockchain. This development aims to provide secure and capital-efficient stablecoin payments, crosschain liquidity, and enterprise-grade wallet infrastructure, according to circle.com.

Key Features of Monad Integration
Monad, a high-performance Layer-1 blockchain, is designed to offer high throughput with complete Ethereum Virtual Machine (EVM) compatibility. It combines the speed, scalability, and low fees of next-generation blockchains with Ethereum-grade security, enabling developers to build capital-efficient applications for decentralized finance (DeFi), trading, and payments.

The integration of USDC and CCTP on Monad is set to provide developers with a robust platform to build next-generation onchain applications. USDC, a fully reserved stablecoin, is redeemable 1:1 for U.S. dollars and is designed to power liquidity across DeFi, trading, and payments. Developers can also experiment with funds flows in their Monad applications by acquiring free testnet USDC from the Circle Faucet.

Expanding Blockchain Interoperability
CCTP enhances the capability for developers to design crosschain experiences by connecting Monad applications to 17 additional blockchains without the need for liquidity lock-up. This feature offers a highly secure and capital-efficient method to transact with USDC across supported blockchains.

Comprehensive Developer Tools
Circle Wallets provide a flexible and secure infrastructure, enabling the creation of in-app wallets on Monad that cater to global users and streamline DeFi onboarding. Additionally, the contracts feature simplifies the creation, deployment, and management of smart contracts, offering end-to-end tooling and a curated library of security-audited templates.

Potential Use Cases and Early Adopters
USDC, CCTP, Wallets, and Contracts serve as a foundation for developers and businesses building on Monad. Potential applications include DeFi and trading apps, payments and fintech apps, wallets and bridges, and market makers.

Several day-one applications are already utilizing these integrations, including Accountable, Across, Bungee Exchange, Bybit, Coinbase, Crystal, Curve, Kuru, Levr, Mayan, Monad Bridge, Monday Trade, Portal, and Wormhole.

This integration on Monad represents a significant step in enhancing blockchain technology's efficiency and broadening its accessibility for developers and businesses alike.

Image source: Shutterstock

usdc
cctp
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Bitcoin continues to dominate global financial conversations, and Tether CEO Paolo Ardoino has stepped into the spotlight with a strong message for critics and supporters alike. In his latest comments, Ardoino said Bitcoin will stand the test of time because its strength does not come from speculation or short-term hype, but from the rising global demand for financial freedom and independence.

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Bitcoin has officially entered a capitulation phase as relentless selling pressure and macro uncertainty push the market into one of its most stressful moments of the cycle. After reaching its $126,000 all-time high in early October, BTC has collapsed to a fresh local low near $80,000 in under two months — a stunning 35% drawdown that has shaken investor confidence. Many market participants who expected a continuation of the bullish trend are now facing steep unrealized losses, amplifying fear and forcing short-term holders to exit at a loss.

According to top analyst Axel Adler, the strength of the US dollar has become one of the dominant forces behind this wave of capitulation. As the DXY index holds firmly above 100, global liquidity tightens, historical patterns show that Bitcoin short-term holders tend to realize losses more aggressively. Adler notes that this dynamic is currently playing out with intensity, mirroring previous phases of market stress.

However, not all signals point downward. The probability of a December Federal Reserve rate cut has climbed to 69%, and Adler suggests that if markets begin pricing this more aggressively, it could flip macro momentum and trigger a reversal. For now, Bitcoin remains in a fragile state — but a macro catalyst may be forming.

Short-Term Holder Capitulation Deepens as Macro Pressure Overrides Behavioral Signals
Axel Adler explains that short-term holders are now realizing losses with an intensity comparable to some of Bitcoin’s most violent historical shocks — including the COVID crash of 2020, the China mining ban in 2021, and the Luna collapse in 2022.

The latest data shows that SOPR Momentum, a key indicator of realized profitability, has dropped nearly to 0, a level that typically marks full capitulation among reactive market participants. Historically, readings this depressed have aligned with explosive V-shaped reversals or sharp relief rallies, as selling pressure becomes exhausted and stronger hands begin absorbing supply.

Bitcoin STH SOPR | Source: Axel Adler
However, Adler emphasizes an important nuance: while behavioral capitulation is clearly underway, macro forces currently dominate market structure. Extreme SOPR readings can produce bottoms, but they can also generate short-lived bounces within broader downtrends when macro conditions remain unfavorable. With the dollar index (DXY) still elevated above 100, liquidity remains tight — and Bitcoin continues to trade under pressure.

Adler notes that everything now hinges on the Federal Reserve. If markets begin actively pricing in the December rate cut, it could weaken the dollar and relieve some of the stress weighing on BTC. Until then, macro remains the stronger force, overshadowing even severe capitulation signals.

Testing Support After a Steep Breakdown
Bitcoin’s price action on the 1D chart shows the market attempting to stabilize after one of the sharpest multi-week declines of this cycle. BTC dropped from the $126,000 peak to the $80,000–$86,000 range in less than two months, and the chart clearly reflects this capitulation structure. The series of long red candles highlights aggressive selling pressure, with bears firmly in control throughout November.

BTC testing fresh demand | Source: BTCUSDT chart on TradingView
The chart shows BTC trading below all major moving averages—the 50-day, 100-day, and 200-day—confirming a clear breakdown in trend structure. The 200-day MA around the mid-$88K region is now acting as resistance rather than support. This flip is typically a bearish signal and aligns with the ongoing macro-driven weakness highlighted by analysts across the market.

Volume remains elevated during the downturn, reinforcing that the sell-off has been driven by strong hands exiting. However, the most recent candles show wicks forming near $83K–$86K, suggesting early attempts at demand absorption. If BTC can hold above the recent low around $80K and close back above the 200-day MA, the market could see a short-term relief rally.

Featured image from ChatGPT, chart from TradingView.com

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Sebastian's journey into the world of crypto began four years ago, driven by a fascination with the potential of blockchain technology to revolutionize financial systems. His initial exploration focused on understanding the intricacies of various crypto projects, particularly those focused on building innovative financial solutions. Through countless hours of research and learning, Sebastian developed a deep understanding of the underlying technologies, market dynamics, and potential applications of cryptocurrencies.
As his knowledge grew, Sebastian felt compelled to share his insights with others. He began actively contributing to online discussions on platforms like X and LinkedIn, focusing on fintech and crypto-related content. His goal was to expose valuable trends and insights to a wider audience, fostering a deeper understanding of the rapidly evolving crypto landscape. Sebastian's contributions quickly gained recognition, and he became a trusted voice in the online crypto community.
To further enhance his expertise, Sebastian pursued a UC Berkeley Fintech: Frameworks, Applications, and Strategies certification. This rigorous program equipped him with valuable skills and knowledge regarding Financial Technology, bridging the gap between traditional finance (TradFi) and decentralized finance (DeFi). The certification deepened his understanding of the broader financial landscape and its intersection with blockchain technology.
Sebastian's passion for finance and writing is evident in his work. He enjoys delving into financial research, analyzing market trends, and exploring the latest developments in the crypto space. In his spare time, Sebastian can often be found immersed in charts, studying 10-K forms, or engaging in thought-provoking discussions about the future of finance.
Sebastian's journey as a crypto analyst and investor has been marked by a relentless pursuit of knowledge and a dedication to sharing his insights. His ability to navigate the complex world of crypto, combined with his passion for financial research and communication, makes him a valuable asset to the industry. As the crypto landscape continues to evolve, Sebastian remains at the forefront, providing valuable insights and contributing to the growth of this revolutionary technology.

Journalist

Posted: November 25, 2025

Key Takeaways
Why is Plasma’s price sliding despite a green market?
Upcoming unlocks, collapsing activity, and a sharp drop in stablecoin TVL weakened XPL’s short-term structure.

What on-chain signals showed XPL’s momentum fading?
DEX volume, daily users, and transaction counts fell steadily through November, aligning with a bearish technical setup.

Plasma dropped more than 11% in recent hours, even as the broader market traded green for most of the day.

The decline put Plasma [XPL] alongside Starknet [STRK], which also posted double-digit losses during the same window.

XPL extended its downtrend after the post-launch hype faded. That early rally had been supported by an airdrop worth about 10,000 XPL for initial users.

As price cooled, on-chain activity followed the same path, weakening the token’s momentum.

What’s driving Plasma token down?
The first wave of selling stemmed from the upcoming unlock on the 25th of November.

About 88.88 million XPL, valued at $18.13 million, was set to unlock, leaving over 80% of the supply still locked. It was the largest of the roughly $80 million in weekly token unlocks across the sector.

Source: DefiLlama

Even so, long-term traction struggled elsewhere.

Stablecoin TVL fell 68% since October and declined 8.24% on a weekly basis. Stablecoin Market Cap rested near $1.82 billion, while overall TVL slipped to $6.695 billion, with bridges contributing $5.79 billion of that total.

Source: Dune

Cumulative Transactions hit a new high, but daily activity cooled.

Transaction Count slipped from 42,398 to 39,725. Daily New Users were only 137, and returning users totaled 1,831.

DEX Volume dropped to $8.39 million at press time from its high of $47.81 million on the 19th of November. Most usage metrics trended lower since late October, a slide reflected in price charts.

Bears extend control
On the charts, XPL price showed that the altcoin was in a bearish structure, trading inside a trend channel. XPL was down by more than 36% for the last five days.

The Bull Bear Power (BBP) was dominant for the last five days, while the net volume was negative $5.07 million. XPL bears seemed to be gaining momentum, and the next target was at $0.15 if dominance was maintained.

Conversely, breaking above the upper resistance would invalidate the current setup, which suggests a drop to $0.15.

Source: TradingView

Altogether, XPL was largely bearish, with sellers showing more momentum. This hinted at more breakdown, as on-chain activity was also following the same trajectory as price.

However, a resurgence in bull action could reverse the direction, though the price had not shown any signs.

Leading cryptocurrencies rallied alongside stocks on Monday, as traders amped up bets on a Federal Reserve interest rate cut in December.

CryptocurrencyGains +/-Price (Recorded at 8:25 p.m. ET)Bitcoin (CRYPTO: BTC)+1.54%$87,998.49Ethereum (CRYPTO: ETH)
               +5.60%$2,941.69XRP (CRYPTO: XRP)                         +10.28%$2.25Solana (CRYPTO: SOL)                         +5.94%$138.51Dogecoin (CRYPTO: DOGE)                         +4.98%$0.1519Cryptos RecuperateBitcoin built up momentum, breaking past $89,000, before reverting to the early $88,000s overnight. Trading volume spiked 19% over the last 24 hours.

Ethereum also rallied sharply, but met stiff resistance around the $3,000 mark. The coin's trading volume shot up nearly 50% over the last 24 hours.

Meanwhile, shares of Bitcoin holding company Strategy Inc. (NASDAQ:MSTR) lifted over 5% in the regular trading session.

Benzinga Edge delivers real-time stock alerts, trade ideas, and professional investing tools to help you navigate the market. Find out more about MSTR here.

Cryptocurrency liquidations hit $365 million in the last 24 hours, according to Coinglass, with short position traders losing roughly $255 million.

Bitcoin's open interest rose modestly by 0.55% in the last 24 hours. Notably, nearly 70% of Binance traders with open BTC positions were positioned long, according to the Long/Short Ratio.

The “Extreme Fear” attitude remained dominant in the market, according to the Crypto Fear & Greed Index.

Top Gainers (24 Hours) 

Cryptocurrency (Market Cap>$100 M)Gains +/-Price (Recorded at 8:25 p.m. ET)Rain (RAIN )   +118.71%$0.007934Fartcoin (FARTCOIN)    
               +26.22%$0.2806Helium (HNT )          +22.21%$2.26The global cryptocurrency market capitalization stood at $3.03 trillion, following an increase of 2.56% in the last 24 hours.

Stocks Pop On Fed Officials’ Dovish Comments Stocks began the holiday-shortened week on a high. The Dow Jones Industrial Average rallied 202.86 points, or 0.44%, to end at 46,448.27. The S&P 500 lifted 1.55% to close at 6,705.12, while the tech-focused Nasdaq Composite surged 2.69% to finish at 22,872.01.

The rally comes as traders accelerated bets on a Federal Reserve interest rate cut next month following dovish remarks from key central bank officials. 

Governor Christopher Waller was the latest to signal support for a December cut, following dovish comments from New York Fed President John Williams last week.

Traders priced in a 80% chance that the central bank will slash rates by 25 basis points, up from 71% a day earlier, according to the CME FedWatch tool.

BTC’s Cleansing Phase Setting Stage For Bullish Rebound?Blockchain analytics firm CryptoQuant noted the "strongest" 30 day-drop in Bitcoin's open interest in the current cycle, with the last such move seen during the 2022 bear market.

"Historically, these cleansing phases have often been essential to forming a solid bottom and setting the stage for a renewed bullish trend," CryptoQuant added.

Widely followed cryptocurrency analyst and trader Michaël van de cautioned that Bitcoin is still in a downtrend despite some recovery, with $91,000 as the first major resistance.

"I would assume we’re going to see some consolidation there, and probably test $85,000-86,000 before we’ll continue to go up," the analyst projected.

Photo Courtesy: KateStock on Shutterstock.com

Read Next:    

JPMorgan Says Bitcoin Miners Are Entering A ‘Higher-Conviction Phase’: Here Are Its Price Targets
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Solana's price rose 5.44% to $138.56 as x402 protocol saw over 500,000 transactions and $100,000 in volume during the Nov 22-23, 2025 weekend.Developers proposed SIMD-0411, aiming to double Solana's disinflation rate and reduce future SOL issuance by 22.3 million, reaching a 1.5% inflation target by 2029.Debate continues as lower staking yields could push 47 validators out, raising decentralization concerns despite potential long-term supply benefits.Solana (SOL) surged over 5% in the past 24 hours, reaching $138.56 as x402 protocol transaction activity spiked over the weekend. At the same time, developers advanced a major proposal to reduce future token emissions, aiming for aggressive disinflation.

This price rally aligns with growing interest in Solana’s ecosystem, fueled by technical upgrades and active on-chain participation. Together, these factors highlight stronger investor confidence in Solana’s long-term outlook.

Sponsored

Price Momentum and Market ContextSolana’s price hit $138.56 on Nov 24, 2025, reflecting a 5.44% rise in 24 hours. Trading volume climbed above $6.36 billion, suggesting strong market engagement. SOL sits sixth among cryptocurrencies by market cap at $77.47 billion.

While Solana trades well below its peak of $293.31, recorded on Jan 19, 2025, this latest uptrend showcases resilience amidst wider market uncertainty. With about 559 million SOL circulating from a total supply of 614 million, the asset continues to attract both institutional and retail attention.

Major exchanges like Binance, Coinbase, Bybit, Upbit, and CoinUp.io report a price range of $136.04 to $138.63 for SOL, indicating high liquidity and stable market confidence—even amid notable volatility.

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x402 Activity Drives Weekend SurgeLast weekend, the x402 protocol saw transaction records broken. On-chain analyst Rishin Sharma reported that the protocol processed over 500,000 transactions and more than $100,000 in volume, setting daily highs on Nov 23.

huge weekend for x402 activity on @solana
–> 500k+ txns / $100k+ volume processed over the weekend, 11/23 saw daily ATHs in both categories
–> 500% WoW growth in activity

still early, let's check in on this in a few weeks pic.twitter.com/jiUihtQST2

— Rish (@_rishinsharma) November 25, 2025
This 500% week-over-week growth points to accelerating demand for x402—now seen as a key part of network engagement. Such surges validate Solana’s speed and scalability, increasing optimism among traders and developers. Analysts note this trend as a positive sign for Solana’s overall ecosystem health.

Sharma highlighted that x402’s momentum is just beginning, meaning activity could grow further. This early growth demonstrates Solana’s ability to host fast, cost-efficient applications at scale.

Sponsored

SIMD-0411 Proposal Targets Aggressive DisinflationSolana developers are actively debating SIMD-0411, a proposal from Helius Labs to double Solana’s annual disinflation rate from 15% to 30%. The goal is to lower inflation from its current 4.18% rate to a long-term terminal rate of 1.5% sooner.

With the current schedule, Solana would reach the 1.5% target by 2032. If SIMD-0411 passes, that milestone could move up to 2029, removing about 22.3 million SOL from potential supply—a 3.2% cut versus today’s trajectory.

Supporters claim the plan adds certainty for node operators. Accelerated disinflation could tighten token supply faster than on most blockchains, potentially driving scarcity-based price gains. One market analyst highlighted the benefit, saying that removing billions in sell pressure would fundamentally improve Solana’s value proposition.

SOLANA IS ABOUT TO GET A WHOLE LOT MORE SCARCE#Solana devs just proposed something big: doubling the disinflation rate so the network reaches its 1.5% terminal inflation twice as fast.

This isn’t a minor update — it’s a full acceleration of Solana’s economic engine.

What it… pic.twitter.com/ZIqLBN4Vqk

— CryptosRus (@CryptosR_Us) November 22, 2025
Sponsored

Yet, the proposal also raises concerns. If staking yields decline, 47 low-stake validators could become unprofitable by year three. Critics warn that this might concentrate influence among larger validators, challenging the network’s decentralization goals.

The official SIMD-0411 document, submitted on Nov 22, 2025, explains the technical and economic rationale, the governance process, and the expected impacts. Community debate is ongoing as stakeholders weigh faster disinflation against risks to validator sustainability.

Market Sentiment and Future OutlookMomentum from x402 activity and the SIMD-0411 proposal has galvanized Solana’s community. Social channels show growing optimism, with some calling the SIMD-0411 proposal a turning point for Solana’s economy.

Still, opinions are divided. While some expect further gains due to scarcity and ecosystem growth, others worry that lower staking returns could drive out smaller validators and restrict participation. The next few weeks will show whether the community rallies behind the proposal or if validator opposition grows.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.

ECD Automotive Design, Inc. (ECDA) Q3 2025 Earnings Call November 24, 2025 4:30 PM EST

Company Participants

Chris Donovan
Scott Wallace - Founder, CEO & Chairman of the Board
Victoria Hay - Chief Financial Officer

Presentation

Operator

Greetings, and welcome to the ECD Auto Design Third Quarter 2025 Earnings Call. [Operator Instructions] As a reminder, this conference is being recorded.

It is now my pleasure to introduce Chris Donovan of Investor Relations. Please go ahead.

Chris Donovan

Thank you, operator, and good morning, everyone. Welcome to ECD Auto Design's Third Quarter 2025 Earnings Conference Call. Today's date is November 24, 2025. And on today's call from ECD Auto Design are Scott Wallace, Co-Founder, Chief Executive Officer and Chairman; and Victoria Hay, Chief Financial Officer.

Before we begin, I'd like to remind everyone that this call may contain forward-looking statements as they are defined under the Private Securities Litigation Reform Act of 1995. These statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those expressed in forward-looking statements. For a discussion of such risks and uncertainties, please see ECD Auto Design's most recent filings with the SEC. All forward-looking statements made today reflect our current expectations only, and we undertake no obligation to update any statement to reflect the events that occur after this call.

Also, during the course of today's call, the company will be discussing one or more non-GAAP financial measures. Reconciliations of these non-GAAP financial measures to the most directly comparable GAAP measures are included in the press release we issued on Thursday, November 20, 2025. Copies of that press release are accessible on ECD's Investor Relations website, ecdautodesign.com. In addition, ECDA's Form 10-K and 10-Qs are also available on the Investor Relations website.

Now I'd like to turn the

Recommended For You

'Mad Money' host Jim Cramer looks at the current state of the AI race.

, /PRNewswire/ --

Why: Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of America's Car-Mart, Inc. (NASDAQ: CRMT) resulting from allegations that America's Car-Mart, Inc. may have issued materially misleading business information to the investing public.

So What: If you purchased America's Car-Mart, Inc. securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law Firm is preparing a class action seeking recovery of investor losses.

What to do next: To join the prospective class action, go to https://rosenlegal.com/submit-form/?case_id=46025 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.

What is this about: On September 4, 2025, during market hours, Benzinga published an article entitled "America's Car-Mart Stock Plunges After Sales Volume Dip, Delinquency Uptick." The article stated that America's Car-Mart, Inc. stock was trading "lower after the company reported first-quarter results. The company reported a first-quarter loss of 69 cents per share, compared with a net loss of 15 cents per share in the year-ago period."

On this news, America's Car-Mart, Inc. stock fell 18.2% on September 4, 2025.

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.  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 achieved, at that time, the largest ever securities class action settlement against a Chinese Company. At the time 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.

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.

Contact Information:

      Laurence Rosen, Esq.
      Phillip Kim, Esq.
      The Rosen Law Firm, P.A.
      275 Madison Avenue, 40th Floor
      New York, NY 10016
      Tel: (212) 686-1060
      Toll Free: (866) 767-3653
      Fax: (212) 202-3827
      [email protected]
      www.rosenlegal.com

SOURCE THE ROSEN LAW FIRM, P. A.

, /PRNewswire/ --

Why: Rosen Law Firm, a global investor rights law firm, announces a class action lawsuit on behalf of purchasers of securities of Perrigo Company plc (NYSE: PRGO) between February 27, 2023 and November 4, 2025, both dates inclusive (the "Class Period"). 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 16, 2026.

So what: If you purchased Perrigo 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 Perrigo. class action, go to https://rosenlegal.com/submit-form/?case_id=48085 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 16, 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. 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 achieved the largest ever securities class action settlement against a Chinese Company at the time. 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, defendants made materially false and/or misleading statements and or failed to disclose that: (1) the infant formula business acquired from Nestlé suffered from significant underinvestment in maintenance; (2) Perrigo needed to make substantial capital and operational expenditures above Perrigo's outwardly stated cost estimates to remediate the infant formula business; (3) there were significant manufacturing deficiencies in the facility for Perrigo's infant formula business; (4) as a result of the foregoing, Perrigo's financial results, including earnings and cash flow, were overstated; and (5) as a result of the foregoing, defendants' positive statements about Perrigo's business, operations, and prospects were materially misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Perrigo class action, go to https://rosenlegal.com/submit-form/?case_id=48085  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.

Contact Information:

      Laurence Rosen, Esq.
      Phillip Kim, Esq.
      The Rosen Law Firm, P.A.
      275 Madison Avenue, 40th Floor
      New York, NY 10016
      Tel: (212) 686-1060
      Toll Free: (866) 767-3653
      Fax: (212) 202-3827
      [email protected]
      www.rosenlegal.com

SOURCE THE ROSEN LAW FIRM, P. A.

November 24, 2025 7:55 PM EST | Source: Canamera Energy Metals Corp.
Edmonton, Alberta--(Newsfile Corp. - November 24, 2025) - Canamera Energy Metals Corp. (CSE: EMET) (OTCQB: EMETF) (FSE: 4LF0) (the "Company") is pleased to announce that it has closed its previously announced (please see news releases dated October 15, October 20 and October 27, 2025) non-brokered private placement for gross proceeds of approximately $2,473,570.35 (the "Private Placement").

The Private Placement consisted of two parts:

1,782,000 flow-through units ("FT Units") were issued at a price of $0.56 per FT Unit. Each FT Unit consists of one flow-through common share and one-half of one warrant, with each such whole warrant exercisable at a price of $0.65 to acquire, for a period of 36 months, one common share.3,279,223 non-flow-through units ("NFT Units") were issued at a price of $0.45 per NFT Unit. Each NFT Unit consists of one flow-through common share and one-half of one warrants, with each such whole warrant exercisable at a price of $0.56 to acquire, for a period of 36 months, one common share.The Company intends to use the proceeds of the Private Placement to advance its mineral projects, and for general working capital and corporate purposes, including investor relations. The proceeds from the sale of the FT Units will be used to incur "Canadian exploration expenses" within the meaning of the Income Tax Act (Canada).

In connection with the Private Placement, the Company paid an aggregate of $22,153.20 in cash finder's fees and issued 46,560 finder's warrants to Research Capital Corporation ("RCC").

The securities issued in connection with the Private Placement are subject to a statutory hold period of four months and one day.

LIFE Offering

The Company is also pleased to announce the closing of its previously announced LIFE Offering (please see news releases dated October 15 and October 20, 2025) (the "LIFE Offering"), pursuant to which the Company issued 4,394,356 units ("LIFE Units"), at a price of $0.45 per LIFE Unit, for gross proceeds of approximately $1,977,460.20. Each LIFE Unit consists of one common share and one-half of one Common Share purchase warrant, with each such warrant entitling the holder to purchase one common share at a price of $0.56 for a period of 36 months.

The LIFE Units were issued pursuant to the Listed Issuer Financing Exemption (the "LIFE Exemption") under Part 5A of National Instrument 45-106 - Prospectus Exemptions, as amended by the Canadian Securities Administrator's Coordinated Blanket Order 45-935 - Exemptions from Certain Conditions of the Listed Issuer Financing Exemption. Accordingly, the Units will not be subject to a hold period in accordance with applicable Canadian securities laws.

In connection with the LIFE Offering, the Company paid $65,078.10 in cash finder's fees and 144,618 finder's warrants to RCC.

The Company intends to use the net proceeds from the LIFE Offering for working capital and general corporate purposes, as more specifically described in the Offering Document.

The securities described herein have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act") or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Change of Auditor

The Company also wishes to announce that it has changed its auditor from Adam Sung Kim Ltd., (the "Predecessor Auditors") to DeVisser Gray LLP (the "Successor Auditors"), effective November 17, 2025.

At the request of the Company, the Predecessor Auditors resigned as auditor of the Company effective November 17, 2025, and the board of directors of the Company appointed the Successor Auditor as the Company's until the next Annual General Meeting of the Company.

There were no reservations in the Predecessor Auditor's reports in connection with the most recently completed fiscal year (April 2025) or for any period subsequent to the most recently completed period for which an audit report was issued preceding the date of the Predecessor Auditor's resignation. There are no "reportable events" (as that term is defined in National Instrument 51-102 Continuous Disclosure Obligations) between the Company and the Predecessor Auditor.

In accordance with National Instrument 51-102, the notice of change of auditor, together with the required letters from the Predecessor Auditor and the Successor Auditor, have been reviewed by the audit committee and the board of directors and have been filed on SEDAR+.

About Canamera Metals Corp.

Canamera is a mineral exploration company focused on the acquisition and development of mineral resource projects, including the Mantle project in British Columbia, as well as high-quality REE (rare-earth elements) and critical metal assets in the Americas. The Company targets underexplored regions with district-scale potential, leveraging geochemical, geophysical and geological data to identify first-mover opportunities.

FOR FURTHER INFORMATION PLEASE CONTACT:

CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION

This news release contains forward-looking statements within the meaning of applicable Canadian securities laws. Forward-looking statements are typically identified by words such as: "believe", "expect", "anticipate", "intend", "estimate", "plans", "strategy", "opportunity", "positions" and similar expressions, or are those which, by their nature, refer to future events. All statements that are not statements of historical fact are forward-looking statements. Forward-looking statements in this release include, but are not limited to, statements regarding the intended use of proceeds from the Private Placement and LIFE Offering, as well as the Company's ability to advance its projects or to acquire new mineral properties.

Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially, including: the use of proceeds from the Private Placement or LIFE Offering being different than what is currently intended; the Company's inability to identify suitable staking targets; completion of satisfactory due diligence on potential projects; successful negotiation of acquisition terms; availability of financing; changes in commodity prices and market conditions for rare earth elements; regulatory or permitting delays; geopolitical developments affecting rare earth supply chains; and competition for rare earth properties in the United States. Additional risk factors can be found in the Company's public disclosure documents available at www.sedarplus.ca.

Readers are cautioned not to place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise such statements, except as required by law.

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

NOT FOR DISSEMINATION IN THE UNITED STATES OR
FOR DISTRIBUTION TO U.S. WIRE SERVICES

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/275824

The company remains an affordable way to bet on artificial intelligence (AI).

The 47-year-old computer memory giant Micron Technologies (MU +7.99%) isn't typically the place to look for explosive growth and volatility in the technology industry. But generative artificial intelligence (AI) changes everything.

Hype surrounding the new opportunity has sent the company's shares up by 141% year to date and down 10% since last week, as investors rush to take profits from a sectorwide boom many feel has gone too far, too fast. Let's explore what the next three years might have in store for the stock.

Today's Change

(

7.99

%) $

16.56

Current Price

$

223.93

Nvidia's earnings sent a chill through the industry
Leading artificial intelligence chipmaker Nvidia released its third-quarter earnings on Nov. 19. As usual, results were a slam-dunk success, with revenue jumping 62% year over year to a record of $57 billion because of demand for its cutting-edge graphics processing units (GPUs) used for running and training AI algorithms.

But despite the objectively stellar results, the news sent Nvidia stock down sharply, while also hurting other industry players like Micron, which lost roughly a tenth of its value in just two days.

On the surface, it might be surprising to see tech stocks dropping on good news. But the reaction highlights how nervous the market is becoming about the levels of AI spending in the economy. Data center companies continue to pour money into hardware, but the expenditure is not leading to profits on the consumer-facing side of the opportunity.

For example, OpenAI creator ChatGPT is believed to have lost an eye-popping $11.5 billion in the last quarter alone. And the pain is also increasingly being felt in the infrastructure side of the industry, with the GPU-focused cloud computing giant CoreWeave generating a net loss of $110.1 million in its most recently reported financial quarter.

Can Micron weather the storm?

Image souce: Getty Images.

Despite the hype, AI is a risky industry because large language models (LLMs) haven't been proven to be commercially viable at scale. That said, there is a silver lining for Micron because its picks-and-shovels business model shields it from the worst uncertainties in the market. Consumer-facing businesses take the most risk, hardware-buying middlemen take intermediate risk, and hardware producers take the least risk.

Micron is firmly on the hardware side of the value chain. It sells high-performance memory solutions like DRAM and NAND, which are critical for storing the vast amounts of training data for LLMs. The company doesn't necessarily have to worry much about what is happening on the consumer-facing side of the opportunity because it could take years for these issues to affect demand for its products. The company is also hugely diversified, with its memory solutions enjoying widespread use in the personal computer, smartphone, and automotive industries.

Historically, memory demand was hugely cyclical, experiencing boom and bust cycles because of mismatches between supply and demand caused by long production lead times. However, rising data center demand could turn these historic challenges into a multiyear opportunity for Micron.

According to the CEO of leading Chinese chipmaker SMIC, the world may be on the cusp of a memory chip shortage caused by the rapid AI data center buildout. If this trend continues, it could create a favorable environment for Micron to juice its profitability by selling higher-margin AI memory solutions while increasing the prices it charges to customers in lower-margin industry verticals like smartphones or automotive.

Where will Micron stock be in three years?
The next three years look very bright for Micron, as its picks-and-shovels business model shields it from generative AI industry uncertainty, while the memory chip shortage could spark a supercycle of demand for its hardware. The company's rock-bottom valuation is icing on the cake for investors. With a forward price-to-earnings (P/E) multiple of just 14, the stock trades at a sharp discount to other AI-infrastructure plays like Nvidia or AMD, which boast forward P/Es of 27 and 36, respectively.

'Mad Money' host Jim Cramer talks recent high profile stakes in theme park company Six Flags.

Blue Bird Corporation (BLBD) Q4 2025 Earnings Call November 24, 2025 4:30 PM EST

Company Participants

Mark Benfield - Head-Investor Relations
John Wyskiel - President, CEO & Director
Razvan Radulescu - Chief Financial Officer

Conference Call Participants

Michael Shlisky - D.A. Davidson & Co., Research Division
Eric Stine - Craig-Hallum Capital Group LLC, Research Division
Gregory Lewis - BTIG, LLC, Research Division
Sherif El-Sabbahy - BofA Securities, Research Division
Craig Irwin - ROTH Capital Partners, LLC, Research Division
Christopher Pierce - Needham & Company, LLC, Research Division

Presentation

Operator

Good afternoon, and thank you for attending today's Blue Bird Fiscal 2025 Fourth Quarter and Full Year Earnings Call. My name is Jayla, and I'll be your moderator for today. [Operator Instructions] At this time, I'd like to pass the conference over to our host, Mark Benfield. Please proceed.

Mark Benfield
Head-Investor Relations

Thank you, and welcome to Blue Bird's Fiscal 2025 Fourth Quarter Earnings Conference Call. The audio for our call is webcast live on blue-bird.com under the Investor Relations tab. You can access the supporting slides on our website by clicking on the Presentations box on the IR landing page. Our comments today include forward-looking statements that are subject to risks that could cause actual results to be materially different. Those risks include, among others, matters we have noted on the following 2 slides and our filings with the SEC.

Blue Bird disclaims any obligation to update the information in this call. This afternoon, you will hear from Blue Bird's President and CEO, John Wyskiel; and CFO, Razvan Radulescu. Then we'll take some questions. Let's get started. John?

John Wyskiel
President, CEO & Director

Thanks, Mark, and good afternoon, everyone, and thanks for joining us today. It's great to be here, and we're excited to share with you our fiscal 2025 fourth quarter and full year financial results. The Blue Bird

Recommended For You

Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

SoundHound AI looks like an early stage Palantir.

Palantir has been one of the best artificial intelligence (AI) stocks investors could buy since the AI arms race began in 2023. Despite the recent sell-off, the stock is up nearly 2,600% since the start of 2023 -- an absolutely incredible return. Unless you have access to a time machine, there's no going back to capture those gains, and investors must identify other stocks that displayed similar aspects to Palantir to find the next great growth stock.

One that I think could deliver strong growth similar to Palantir is SoundHound AI (SOUN +6.51%). This under-the-radar stock is growing at an incredible pace, and looks like an early stage Palantir. But can it outperform Palantir over the next decade?

Image source: Getty Images.

Both companies produce enterprise AI software products
Palantir and SoundHound AI are both artificial intelligence companies developing enterprise solutions for their clients, but they aren't competitors. Palantir's software focuses on AI-powered data analytics and is there to help its clients make the best decisions possible at all times. It also has generative AI-powered agents that can automate some processes that traditionally required data manipulation by a human.

SoundHound AI's product is in a completely different AI realm. Its AI platform is a voice recognition software that can be used to automate human-to-human interactions. This has a wide variety of applications, but some of the biggest use cases so far are in restaurants and automotive assistants. SoundHound AI is also making a push into healthcare, insurance, and financial services. If SoundHound AI's platform can outperform human counterparts, it could be a source of massive optimization within all of those industries, giving it a huge growth runway.

Today's Change

(

6.51

%) $

0.73

Current Price

$

11.95

SoundHound AI's product has one thing in common with Palantir: It's not tailored for a specific industry. Although each one started out serving a particular industry, they evolved their product to meet the demands of a wide variety of clients, allowing Palantir to grow into the giant it is today. If SoundHound AI can achieve similar adoption to Palantir, it will be a huge investment success story.

But will it outperform Palantir over the next decade?

SoundHound AI is growing faster already
During Q3, SoundHound AI delivered impressive growth of 68%. That exceeds Palantir's growth rate of 63%. However, there's a massive size difference. Palantir's Q3 revenue totaled $1.18 billion, while SoundHound AI's was a comparatively puny $42 million. This makes Palantir's growth all the more impressive, but if SoundHound AI can keep this growth rate up for a long time, it will be a very successful stock pick. SoundHound AI's success hinges on how widely its audio recognition software is adopted. If its products are adopted by any company that has a customer service wing and consumers have a positive interaction with them, SoundHound AI could be an impressive winner over the long term.

What sets Palantir and SoundHound AI apart for now is profitability. Palantir's profitability is quite impressive, as it posted a 33% operating margin during Q3. That far exceeds the deep unprofitability levels of SoundHound AI.

SOUN Operating Margin (Quarterly) data by YCharts

Although SoundHound AI is far more unprofitable than Palantir was before 2023, it can still dig itself out of the hole if it makes profits a priority. Palantir did that starting slightly before 2023, and it turned into a wildly successful stock.

If SoundHound AI is to outperform Palantir over the next decade, it will need to improve its operating margin dramatically. That's something that's easier to do at scale, so as SoundHound AI increases its revenue, look for signs of improving profitability.

The last comparison is valuation. Because SoundHound AI is unprofitable, using the price-to-sales (P/S) ratio is the best metric. SoundHound AI trades at a pricey 31 times sales, but that's far cheaper than what Palantir trades for.

SOUN PS Ratio data by YCharts

At 112 times sales, Palantir is one of the most expensive stocks in the stock market, and will have a difficult time living up to expectations. That's a ton of growth priced into the stock already, and even though it's delivering impressive results, it must sustain them for a long time to justify its current price tag.

As a result, SoundHound AI has the potential to outperform Palantir over the next decade if it can improve its margins. If it can do that, then SoundHound AI has a lower valuation starting point and superior growth rates working toward its advantage. SoundHound AI's real success will boil down to how widely its software is adopted by its target clientele and if consumers accept the transition from humans to AI. This is far from a guarantee, but if SoundHound AI can deliver, it will be a huge winner. If its product flops or the consumer rejects AI integration, then SoundHound AI may not be all it's hyped up to be. I think the real answer likely lies somewhere in the middle, but that could still yield a successful long-term stock pick.

November 24, 2025 8:21 PM EST | Source: The Rosen Law Firm PA
New York, New York--(Newsfile Corp. - November 24, 2025) - WHY: Rosen Law Firm, a global investor rights law firm, announces a class action lawsuit on behalf of purchasers of securities of Jayud Global Logistics Ltd. (NASDAQ: JYD) between April 21, 2023 and April 30, 2025, both dates inclusive (the "Class Period"). 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 20, 2026.

SO WHAT: If you purchased Jayud 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 Jayud class action, go to https://rosenlegal.com/submit-form/?case_id=48196 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 20, 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. 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 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 throughout the Class Period, defendants made materially false and/or misleading statements and/or failed to disclose that: (1) Jayud was the subject of a fraudulent stock promotion scheme involving social media-based misinformation and impersonated financial professionals; (2) insiders and/or affiliates used offshore or nominee accounts to facilitate the coordinated dumping of shares during a price inflation campaign; (3) Jayud's public statements and risk disclosures omitted any mention of the false rumors and artificial trading activity driving the stock price; and (4) as a result of the foregoing, defendants' positive statements about Jayud's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

To join the Jayud class action, go to https://rosenlegal.com/submit-form/?case_id=48196 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.

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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/275782

SHANGHAI, Nov. 24, 2025 (GLOBE NEWSWIRE) -- Shanghai Junshi Biosciences Co., Ltd (Junshi Biosciences, HKEX: 1877; SSE: 688180), a leading innovation-driven biopharmaceutical company dedicated to the discovery, development, and commercialization of novel therapies, announced that the JS001sc-002-III-NSCLC study has met its primary endpoints. JS001sc-002-III-NSCLC is a multi-center, open-label, randomized Phase 3 clinical study comparing toripalimab injection (subcutaneous injection) (code: JS001sc) or toripalimab injection (code: JS001) in combination with chemotherapy for the first-line treatment of recurrent or metastatic non-squamous non-small-cell lung cancer ("NSQ-NSCLC") (NCT06505837). Junshi Biosciences plans to submit a new drug application ("NDA") to the regulatory authorities in the near future.

According to data released by GLOBOCAN 2022, in 2022, China saw 1.06 million new lung cancer cases (22.0% of all new cancer cases in China) and 0.73 million lung cancer deaths (28.5% of all cancer-related deaths in China). NSCLC was the predominant subtype, accounting for approximately 85% of all lung cancer cases. Among NSCLC patients, non-squamous NSCLC constituted approximately 65% of cases.

Immunotherapy (I-O), represented by anti-PD-1 monoclonal antibodies, has become a cornerstone treatment for various malignant tumors including lung cancer, breast cancer, liver cancer, esophageal cancer, and nasopharyngeal carcinoma. Now, immunotherapy covers nearly all stages of treatment for cancer patients, encompassing adjuvant/neoadjuvant treatment for early-stage tumors, consolidation treatment after radical chemoradiation for locally advanced tumors, and first-line to last-line treatments for advanced tumors. Currently, most immunotherapy drugs in China are administered intravenously, and this not only requires lengthy infusion times, but also imposes significant inconveniences on patients. There is an urgent clinical need for more convenient administration methods for immunotherapy.

The JS001sc-002-III-NSCLC Study is a multi-center, open-label, randomized Phase 3 clinical study led by the principal investigator Professor Lin WU from Hunan Cancer Hospital. JS001sc-002-III-NSCLC is the first Phase 3 clinical study of a domestic anti-PD-1 monoclonal antibody subcutaneous formulation.

The study aims to compare the exposure, efficacy and safety of JS001sc plus chemotherapy or JS001 plus chemotherapy for the first-line treatment of recurrent or metastatic NSQ-NSCLC. The results have showed that the drug exposure of JS001sc was non-inferior to that of toripalimab injection with comparable efficacy and safety profiles. The study data will be presented at an upcoming international academic conference. Junshi Biosciences plans to communicate with the regulatory authorities and submit JS001sc’s NDA for all approved indications of JS001.

Dr. Jianjun ZOU, General Manager and CEO of Junshi Biosciences, said, “Since its launch as China's first domestically developed PD-1 antibody drug, toripalimab has secured approvals for 12 indications, benefiting a significant number of patients. In clinical practice, we observed that patients undergoing immunotherapy, either as monotherapy or combination maintenance therapy, face challenges such as frequent intravenous catheterization and time-consuming infusions. The recent success of the Phase 3 study for JS001sc, achieved through the efforts of both patients and the research team, marks not only a pivotal breakthrough in transitioning I-O therapy from 'efficacy' to 'convenience', but also exemplifies Junshi Biosciences' patient-centric ambition. By innovating drug delivery methods, we enhance treatment accessibility: simplifying procedures for patients, reducing their healthcare burden, and alleviating pressure on medical resources. We are committed to advancing the registration of JS001sc and providing more patients with a better treatment experience alongside clinical benefits.”

About JS001sc
JS001sc, developed by Junshi Biosciences, is a subcutaneous injection formulation based on the marketed product, toripalimab injection. JS001sc is the first domestic anti-PD-1 monoclonal antibody subcutaneous formulation to enter Phase 3 clinical study, and will potentially offer more convenient administration to patients. As of today, a multi-center, open-label, randomized Phase 3 clinical study comparing JS001sc plus chemotherapy or toripalimab injection plus chemotherapy for the first-line treatment of recurrent or metastatic NSQ-NSCLC (the JS001sc-002-III-NSCLC Study) has met its primary endpoints.

About Junshi Biosciences
Founded in December 2012, Junshi Biosciences (HKEX: 1877; SSE: 688180) is an innovation-driven biopharmaceutical company dedicated to the discovery, development and commercialization of innovative therapeutics. The company has established a diversified R&D pipeline comprising over 50 drug candidates, with five therapeutic focus areas covering cancer, autoimmune, metabolic, neurological, and infectious diseases. Five of the company’s products have received approvals in China and international markets, one of which is toripalimab, China’s first domestically produced and independently developed anti-PD-1 monoclonal antibody. Toripalimab has been approved in over 40 countries and regions including China, the US, and Europe. During the COVID-19 pandemic, Junshi Biosciences actively shouldered the social responsibilities of a Chinese pharmaceutical company through its involvement in developing etesevimab, MINDEWEI®, and other novel therapies for the prevention and treatment of COVID-19.

With a mission of “providing patients with world-class, trustworthy, affordable, and innovative drugs,” Junshi Biosciences is “In China, For Global.” At present, the company boasts approximately 2,500 employees in the United States (Maryland) and China (Shanghai, Suzhou, Beijing, Guangzhou, etc.). For more information, please visit: http://www.junshipharma.com.

Junshi Biosciences Contact Information

IR Team:
Junshi Biosciences
[email protected]
+ 86 021-6105 8800

PR Team:
Junshi Biosciences
Zhi Li
[email protected]
+ 86 021-6105 8800