Market Signal Briefing

, /PRNewswire/ -- ClaimsFiler, a FREE shareholder information service, reminds investors that they have untilDecember 23, 2025 to file lead plaintiff applications in a securities class action lawsuit against James Hardie Industries plc ("James Hardie" or the "Company") (NYSE: JHX), if they purchased or otherwise acquired the Company's shares between May 20, 2025, and August 18, 2025, inclusive (the "Class Period").  This action is pending in the United States District Court for the Northern District of Illinois.

Get Help

James Hardie investors should visit us at https://claimsfiler.com/cases/nyse-jhx/ or call toll-free (844) 367-9658.  Lawyers at Kahn Swick & Foti, LLC are available to discuss your legal options.

About the Lawsuit

James Hardie and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.

On August 19, 2025, despite prior reassurances that its North America Fiber Cement segment remained strong, the Company disclosed that sales in North America Fiber Cement declined by 12% due to customer destocking first discovered "in April through May," that was expected to impact sales for at least the next two quarters.

On this news, the price of James Hardie's shares fell by over 34%, or $9.79 per share, from a closing price of $28.43 per share on August 18, 2025 to $18.64 per share on August 20, 2025.

The case is Laborers' District Council and Contractors' Pension Fund of Ohio v. James Hardie Industries plc, et al., No. 25-cv-13018.

About ClaimsFiler

ClaimsFiler has a single mission: to serve as the information source to help retail investors recover their share of billions of dollars from securities class action settlements. At ClaimsFiler.com, investors can: (1) register for free to gain access to information and settlement websites for various securities class action cases so they can timely submit their own claims; (2) upload their portfolio transactional data to be notified about relevant securities cases in which they may have a financial interest; and (3) submit inquiries to the Kahn Swick & Foti, LLC law firm for free case evaluations.

To learn more about ClaimsFiler, visit www.claimsfiler.com.

SOURCE ClaimsFiler

, /PRNewswire/ -- MaxsMaking Inc. (Nasdaq: MAMK) ("MaxsMaking" or the "Company"), a manufacturer of customized consumer goods with a focus on advanced technology and innovation, today announced its unaudited financial results for the first half of the fiscal year ended April 30, 2025.

First Half of Fiscal Year 2025 Financial Summary

Revenue was $12.40 million for the first half of fiscal year 2025, representing an increase of 27.43% from $9.73 million for the same period of last year.
Gross profit was $1.34 million for the first half of fiscal year 2025, compared to $1.98 million for the same period of last year.
Gross profit margin was 10.82% for the first half of fiscal year 2025, compared to 20.36% for the same period of last year.
Net income was $0.18 million for the first half of fiscal year 2025, compared to net income of $0.98 million for the same period of last year.
Basic and diluted earnings per A share were $0.02 for the first half of fiscal year 2025, compared to $0.13 for the same period of last year.

Mr. Xiaozhong Lin, Chairman and Chief Executive Officer of MaxsMaking, remarked: "In the first half of fiscal year 2025, we navigated a shifting business environment by scaling our domestic sales to secure stable revenue growth and strengthened market position, through various proactive initiatives such as trade-fair participation, targeted promotional events, expanded direct marketing and key-customer negotiations, and competitive pricing strategies. At the same time, we continued to diversify into Oceania, South America, and Africa to offset market headwinds in Asia, North America, and Europe. During this period, our total revenue increased by 27.43%, driven by a 51.89% surge in domestic sales and new customer acquisitions from the emerging markets. As global disruptions and uncertainties gradually subside, we believe our solid sales base will support a strong rebound, providing a renewed springboard for future growth.

"During this period, we increased research and development spending by 53.50% to advance production process technologies, customization capabilities. To address rising material, labor and bad-debt costs, we adopted a volume-first strategy to expand market share and better absorb fixed costs. While this temporarily compressed our margins, we view it as a strategic short-term trade-off that does not diminish our underlying profitability potential."

"Furthermore, our successful Nasdaq IPO in July 2025 has strengthened our balance sheet and enhanced our capital resources to pursue additional strategic initiatives and market opportunities. As personalization and customization evolve from niche segments into mainstream consumer trends, we believe that our business is well positioned to leverage flexible pricing, expand value-added services, and enter a virtuous growth cycle, supported by our diversified market reach, growing product suite, accumulated technological expertise, and enhanced capital base."

"Looking ahead, our current strategy, anchored in continuous product and technology innovation, will remain as the foundation for sustainable growth and global expansion, particularly in the North America market. We will continue to invest in R&D while maintaining strict cost-efficiency measures to execute this strategy efficiently, supporting long-term shareholder value, even amid a macroeconomic environment of both headwinds and tailwinds."

First Half of Fiscal Year 2025 Financial Results

Revenue

Revenue was $12.40 million for the first half of fiscal year 2025, representing an increase of 27.43% from $9.73 million for the same period of last year. The increase was primarily attributable to an approximately $3.91 million increase in sales in mainland China, and partially offset by the decrease of approximately $1.18 million in sales in Asia (excluding mainland China). The increase in revenue in mainland China and the decrease in other Asian markets were mainly due to uncertainties in overseas markets, where customers' demand and consumption prospects remained relatively weak, leading the Company to strengthen its domestic sales initiatives, such as increasing participation in trade fairs and promotional events, expanding direct marketing and business negotiations with key customers, and adopting more competitive pricing to strengthen its market position in mainland China.

For the Six Months Ended

For the Six Months Ended

Change

April 30, 2025

April 30, 2024

Country/Region

Sales

As % of

Sales 

As % of

Amount

%

Amount

Sales

Amount

Sales

Mainland China

$

11,459,301

92.38

%

$

7,544,314

77.50

%

$

3,914,987

51.89

%

Asia (excluding mainland China)

371,784

3.00

%

1,556,241

15.99

%

(1,184,457)

(76.11)

%

North America

59,069

0.48

%

 `

123,884

1.27

%

(64,815)

(52.32)

%

Europe

427,115

3.44

%

499,126

5.13

%

(72,011)

(14.43)

%

Oceania

39,715

0.32

%

7,970

0.08

%

31,745

398.31

%

South America

11,634

0.09

%

2,468

0.03

%

9,166

371.39

%

Africa

35,616

0.29

%

-

-

%

35,616

100.00

%

Total

$

12,404,234

100

%

$

9,734,003

100

%

$

2,670,231

27.43

%

Cost of Revenue

Cost of revenue was $11.06 million for the first half of fiscal year 2025, representing an increase of 42.70% from $7.75 million for the same period of last year. The increase was primarily due to the increase in raw material cost and labor cost, as well as the effect of the Company's strategic shift to a volume-driven model, which resulted in higher sales volume and corresponding higher production expenses.

Gross Profit  and Gross Profit Margin

Gross profit was $1.34 million for the first half of fiscal year 2025, compared to $1.98 million for the same period of last year.

Gross profit margin was 10.82% for the first half of fiscal year 2025, compared to 20.36% for the same period of last year. The decrease in gross profit margin was primarily due (i) an increase in raw material cost and labor cost, and (ii) the Company's strategic shift toward a volume-driven model, which prioritizes market share growth over near-term margins.

Operating Expenses

Operating expenses were $1.17 million for the first half of fiscal year 2025, representing an increase of 27.01% from $0.92 million for the same period of last year.

Selling expenses were $0.29 million for the first half of fiscal year 2025, representing a decrease of 4.3% from $0.31 million for the same period of last year. The decrease is mainly due to the reduction in employee salaries.
General and administrative expenses were $0.42 million for the first half of fiscal year 2025, representing an increase of 32.37% from $0.31 million for the same period of last year. The increase was mainly due to an increase in the bad debt expense of approximately $95,000, as a result of the slow collection of accounts receivables.
Research and development expenses were $0.46 million for the first half of fiscal year 2025, representing an increase of 53.50% from $0.30 million for the same period of last year. The increase was primarily attributable to the research and development of five projects related to technologies for production processes.

Net Income

Net income was $0.18 million for the first half of fiscal year 2025, compared to $0.98 million for the same period of last year.

Basic and Diluted Earnings per Share

Basic and diluted earnings per A share were $0.02 for the first half of fiscal year 2025, compared to $0.13 for the same period of last year. Basic and diluted earnings per B share were $0.02 for the first half of fiscal year 2025, compared to $0.14 for the same period of last year.

Financial Condition

As of April 30, 2025, the Company had cash of $0.19 million, compared to $0.18 million as of October 31, 2024.

Net cash provided by operating activities was $0.85 million for the first half of fiscal year 2025, compared to net cash used in operating activities of $1.73 million for the same period of last year.

Net cash used in investing activities was $53,810 for the first half of fiscal year 2025, compared to $9,027 for the same period of last year.

Net cash used in financing activities was $0.78 million for the first half of fiscal year 2025, compared to net cash provided by financing activities of $1.83 million for the same period of last year.

Recent Development

On July 8, 2025, the Company completed its initial public offering (the "Offering") of 1,625,000 A shares at a public price of US$4.00 per share. The gross proceeds were US$6.5 million from the Offering, before deducting underwriting discounts and commissions, and other expenses. The Company's A shares began trading on the Nasdaq Capital Market on July 7, 2025, under the ticker symbol "MAMK."

About MaxsMaking Inc.

Founded in 2007 and headquartered in Shanghai, MaxsMaking Inc. specializes in customized consumer goods with a focus on advanced technology and innovation. With production facilities in China's Zhejiang and Henan provinces, the Company integrates digital production, software development, product design, brand management, online sales and international trade to deliver small-batch textile customization services. Its products include backpacks, shopping bags, aprons, and other promotional items. Using sustainable materials and proprietary order management technologies, MaxsMaking delivers high-quality, cost-effective products while emphasizing environmental protection and social responsibility. For more information, please visit the Company's website: https://ir.maxsmaking.com.

Forward-Looking Statements

Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company's current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can find many (but not all) of these statements by the use of words such as "approximates," "believes," "hopes," "expects," "anticipates," "estimates," "projects," "intends," "plans," "will," "would," "should," "could," "may" or other similar expressions in this announcement. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company's registration statement and other filings with the U.S. Securities and Exchange Commission.

For more information, please contact:

MaxsMaking Inc.
Investor Relations
Email: [email protected]

Ascent Investor Relations LLC
Tina Xiao
Phone: +1-646-932-7242
Email: [email protected]

MAXSMAKING INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

AS OF APRIL 30, 2025 (UNAUDITED) AND OCTOBER 31, 2024

IN U.S. DOLLARS, EXCEPT SHARE DATA

April 30,
2025

October 31,
2024

(Unaudited)

   ASSETS

   Current Assets

 Cash

$

186,007

$

176,236

Accounts receivable, net

6,011,750

6,188,992

Due from related parties

5,554

-

Inventories

3,528,337

2,633,615

Prepayments and other current assets

6,825,994

7,452,317

Total current assets

16,557,642

16,451,160

Non-Current Assets

Property and equipment, net

120,785

119,125

Intangible assets, net

6,850

7,433

Right-of-use assets, net

117,526

86,441

Deferred tax assets

44,407

24,538

Deferred offering cost

1,058,003

986,206

Total non-current assets

1,347,571

1,223,743

Total Assets

$

17,905,213

$

17,674,903

   LIABILITIES AND EQUITY

Current Liabilities

Short-term loans

$

2,173,189

$

2,785,965

Accounts payable

2,433,012

2,127,623

Contract liability

459,408

512,859

Income tax payable

892,739

859,194

Other payables and accrued liabilities

932,469

867,249

Due to related parties

737,188

149,757

Lease liabilities-current

97,190

47,895

Total current liabilities

7,725,195

7,350,542

Non-Current Liabilities

Lease liabilities-non current

6,776

-

Long-term loans

1,840,642

2,058,651

Total non-current liabilities

1,847,418

2,058,651

Total liabilities

9,572,613

9,409,193

   COMMITMENTS AND CONTINGENCIES (NOTE 17)

-

Equity

A Shares (US$ 0.01 par value; 7,575,000 A Shares authorized, 7,575,000
   A Shares issued and outstanding as of April 30, 2025 and October 31,
   2024)

75,750

75,750

B Shares (US$0.01 par value; 7,425,000 B Shares authorized, 7,425,000 B
   Shares issued and outstanding as of April 30, 2025 and October 31,
   2024)

74,250

74,250

Additional paid-in capital

1,712,492

1,712,492

Statutory surplus reserve

705,396

705,396

Retained earnings

5,972,806

5,806,881

Accumulated other comprehensive income

(529,822)

(421,542)

Total MaxsMaking Inc.'s Equity

8,010,872

7,953,227

Non-Controlling Interests

321,728

312,483

Total equity

8,332,600

8,265,710

Total Liabilities and Equity

$

17,905,213

$

17,674,903

MAXSMAKING INC.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND
COMPREHENSIVE INCOME

FOR THE SIX MONTHS ENDED APRIL 30, 2025 AND 2024

IN U.S. DOLLARS, EXCEPT SHARE DATA

For The Six Months Ended

April 30,

2025

2024

Revenues

$

12,404,234

9,734,003

Cost of revenues

(11,061,783)

(7,751,700)

Gross profit

$

1,342,451

1,982,303

Operating expenses:

Sales and marketing expenses

(293,041)

(306,224)

General and administrative expenses

(416,039)

(314,290)

Research and development expenses

(458,025)

(298,381)

Total operating expenses

$

(1,167,105)

(918,895)

Income from operations

$

175,346

1,063,408

Other income (expense), net

Interest expenses

(84,275)

(69,615)

Interest income

135

326

Other income

42,771

14,848

Exchange gains

57,949

11,614

Other expenses

(17,126)

(11,713)

Income before income tax provision

$

174,800

1,008,868

Income tax benefit (expense)

370

(25,006)

Net income

$

175,170

983,862

Less: Net income attributable to non-controlling interest

9,245

41,455

Net income attributable to MaxsMaking Inc.

165,925

942,407

Other comprehensive income:

Foreign currency translation adjustment

108,280

13,554

Comprehensive income

$

283,450

997,416

Less: comprehensive income (loss) attributable to non-controlling interests

3,379

(9,286)

Comprehensive income attributable to MaxsMaking Inc.

$

280,071

1,006,702

Weighted Average Shares Outstanding- Diluted

15,000,000

15,000,000

Earnings per A share- basic and diluted

$

0.02

0.13

Earnings per B share- basic and diluted

0.02

0.14

MAXSMAKING INC.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

FOR THE SIX MONTHS ENDED APRIL 30, 2025 AND 2024

IN U.S. DOLLARS, EXCEPT SHARE DATA

For The Six Months Ended

April 30,

2025

2024

  Cash Flows from Operating Activities:

Net income

$

175,170

983,862

     Depreciation of property and equipment

50,879

14,133

     Allowance for expected credit loss

119,131

8,529

     Reversal of expected credit loss

(15,579)

(145)

     Amortization of right-of-use assets

26,092

90,317

     Amortization of intangible assets

506

511

     Other current assets and other receivables

(402,681)

-

Changes in operating assets and liabilities:

     Accounts receivable

8,324

(1,709,906)

     Inventories

(5,247)

(91,692)

     Prepayments and other current assets

951,385

(245,798)

     Amount due from related party

(5,569)

422

     Deferred tax assets

(960,210)

597

     Operating lease-right of use assets

(58,178)

(45,183)

     Deferred financing cost

(938,993)

(646,615)

     Other current liabilities

75,276

-

     Other non-current assets

-

50,162

     Accounts payable

328,826

425,692

     Income tax payable

42,114

22,280

     Contract liability

(48,136)

(381,151)

     Other payables and accrued liabilities

-

106,249

     Lease liabilities

56,727

(161,742)

     Amount due to related party

1,447,089

(147,967)

Net cash provided by/ (used in) operating activities

846,926

(1,727,445)

Cash Flows from Investing Activities:

Purchases of property and equipment

(53,810)

(9,027)

Net cash used in investing activities

(53,810)

(9,027)

Cash Flows from Financing Activities:

Capital contributions

-

70,305

Proceeds from third parties loans

-

239,015

Proceeds from bank borrowings

124,609

2,671,579

Repayments of borrowings to third parties

(255,316)

(729,763)

Repayment of bank borrowings

(650,735)

(421,828)

Net cash (used in)/ provided by financing activities

(781,442)

1,829,308

Effect of Exchange Rate Changes on Cash

(492)

1,404

Net Increase in cash

11,182

94,240

Cash, Beginning of Period

174,825

132,150

Cash, End of Period

$

186,007

226,390

Supplemental disclosure of cash flow information:

$

Cash paid for income tax

$

10,959

2,345

Cash paid for interest

$

29,403

64,902

Supplemental disclosure of non-cash flow information:

Right-of-use assets obtained in exchange for operating lease obligation

$

56,398

125,552

SOURCE MaxsMaking Inc.

What happens when the Fed cuts at all-time highs?… why Luke Lango says rates are less relevant… the AI buildout rolls on… another no-brainer AI investment… quarterly performance from Amazon and Apple
VIEW IN BROWSER

Here’s a Halloween Pop Quiz:

Wednesday marked only the fifth time that the Federal Reserve has cut interest rates when the S&P is trading at all-time highs…

Does history suggest that the next 12 months will bring tricks or treats for market returns?

Ready?

According to JPMorgan, in each of these five instances, the S&P was higher one year later with an average return of 20%.

The worst performance?

A “measly” 15% higher.

Now, that alone should invigorate the bulls. But we can take it one step farther…

What if – for the most explosive parts of today’s market – the Fed and its interest rate policy didn’t even matter that much for the foreseeable future? So, even if the Fed doesn’t cut rates again in December, prospective gains won’t slow?

Our hypergrowth expert Luke Lango, editor of Innovation Investor, made this case yesterday:

Increasingly, the Fed does not matter – not in the way it used to.

Once, a hawkish Fed would kill stocks, and a dovish one would ignite a rally. But we are in a new regime now.

In today’s market, artificial intelligence is the new center of gravity. And AI does not care whether Jerome Powell cuts again in December…

Instead, the thing keeping U.S. equities afloat is the AI buildout…

Data centers. Power infrastructure. High-performance chips. Advanced packaging. Cooling. Grid upgrades. Industrial equipment. 

That is the capex supercycle.

Federal Reserve Chairman Jerome Powell admitted as much in his press conference on Wednesday:

I don’t think that the spending that happens to build data centers all over the country is especially interest-sensitive.

We’ve been urging investors to get exposure to this AI buildout for months
This is one of those powerful tailwinds that will juice portfolios for the next several years. But it could be even bigger than the hyperscalers have let on…

Yesterday, Joe Lonsdale, co-founder of Palantir and founder of venture firm 8VC, said that Big Tech is downplaying the scope of resources they’ll need to achieve their AI goals.

From Lonsdale:

[These companies are] afraid to scare their investors, and so they are telling them they need a lot less capital, a lot less energy than they know they actually do…

If anything, I think we’re underestimating how much investment is going to go into this space and how much we’re going to need.

So, what’s the investment action step?

Back to Luke:

Own the companies building the compute backbone of the next industrial platform, the power equipment firms wiring up the new grid for those data centers, the infrastructure enablers of the most aggressive private-capex boom we’ve seen in modern history…

Because if the Fed cuts in December, AI spending will be big. And if it doesn’t, AI spending will still be big.

But all this AI infrastructure – the data centers, chips, and cooling systems – points toward another investible opportunity…
AI has an insatiable appetite for energy.

So, as AI becomes more powerful, it will demand even more electricity.

Luke, along with Louis Navellier and Eric Fry, identified one of the sources of this added energy demand in yesterday’s issue of Power Portfolio. This service features a “best of” compilation of stocks from our three lead analysts.

From the crew:

Generative AI video is now beginning to take hold, and this technology requires exponentially more energy than traditional language models.

One study from Hugging Face finds that doubling the height, width, or temporal (time) dimensions of a video quadruples the amount of computing required.

This makes generative video projects like OpenAI’s Sora app enormous energy hogs.

Each five-second video can use as much energy as a microwave running for an hour or more, and OpenAI is now projected to burn through $115 billion in cash through 2029. (That’s enough to run a high-powered microwave for 65 million years.)

Bottom line: One of the best ways to play AI – in addition to tech infrastructure buildout – is through power itself.

One example of a company in the crosshairs of this opportunity is Oklo (OKLO). It’s pioneering a new era of compact nuclear reactors designed to deliver clean, reliable, and scalable power – exactly what the AI revolution requires to sustain its explosive growth.

Now, Oklo isn’t some obscure story we just stumbled across. It’s a company uncovered by Andy and Landon Swan’s cutting-edge data engine – a system that tracks millions of online conversations, search trends, and spending patterns to pinpoint the next breakout opportunities before Wall Street even notices.

How the Swan Brothers found OKLO
Whenever consumers take to the internet to talk about or search for a product, the Swans’ proprietary data system captures that activity in real-time.

It then connects those trends back to publicly traded companies, distilling it all into a “Social Heat Score” that highlights where real-world enthusiasm is building fastest. That’s how they spotted OKLO early and were on board before it then surged more than 450%.

But the Swan brothers aren’t the only ones using data to beat the market…

For decades, legendary investor Louis Navellier has built his reputation on using quantitative data to generate triple-digit returns for his readers. His Stock Grader system has uncovered 676 stocks that could have doubled your money or more.

As we’ve been profiling this week, Louis just teamed up with Andy and Landon to create a hybrid stock-picking system that fuses Louis’ quantitative fundamental methodology with the Swans’ real-time social data.

Backtests show that their combined system dug up 240 double-your-money opportunities over just five years, with an average gain of 244%.

They dove into the details earlier this week at their “Ultimate Stock Strategy” event. If you missed it, the free replay is still available here.

Another reason to focus on investing in AI-related energy plays
On Sunday, the Wall Street Journal ran a piece titled “More Big Companies Bet They Can Still Grow Without Hiring”.

From the piece:

It is the corporate gamble of the moment: Can you run a company, increasing sales and juicing profits, without adding people?

American employers are increasingly making the calculation that they can keep the size of their teams flat—or shrink them through layoffs—without harming their businesses.

Part of that thinking is the belief that artificial intelligence will be used to pick up some of the slack and automate more processes.

As we’ve been covering extensively in the Digest, companies are increasingly turning to AI and robotics, using them to replace human workers. The logic and calculation behind this is straightforward.

From our Wednesday Digest:

Humans: massive salary expense, benefits expense, sick days, vacation days, human error on the job…

AI/Robotics: one-time CapEx expense for AI software and/or robotics, marginal yearly maintenance expense, perfect job execution with no need for rest/breaks/benefits/and so on…

But don’t take it from me. Here’s Airbnb’s CEO Brian Chesky:

If people are getting more productive [thanks to AI], you don’t need to hire more people.

I see a lot of companies pre-emptively holding the line, forecasting, and hoping that they can have smaller workforces.

This underscores one reality that wise investors – and employees – will recognize today…

The next decade will witness a massive reallocation of corporate capital – away from payrolls, into power.

The transition from human output to AI output will create a seismic shift across the global energy landscape
According to Goldman Sachs, U.S. data center electricity demand is set to double by 2030, and that estimate may already be conservative.

The International Energy Agency has recently warned that the AI boom alone could consume as much power as an entire industrialized nation, such as Japan, within just a few years.

That explains why some of the most forward-looking firms are racing to secure long-term energy contracts or to invest directly in their own generation capacity.

As we’ve covered in past Digests, Microsoft and Amazon are already locking in deals with renewable producers. Google is experimenting with geothermal. And a handful of smaller innovators – like Oklo – are developing compact nuclear reactors to provide 24/7 clean power where traditional infrastructure can’t reach.

The implications go far beyond Big Tech. Every AI-enabled industry – including logistics, finance, healthcare, and manufacturing – will need dependable, affordable electricity to compete.

Here’s Sam Altman, CEO of OpenAI:

Electricity is not simply a utility. It’s a strategic asset that is critical to building the AI infrastructure that will secure our leadership on the most consequential technology since electricity itself.

Bottom line: We’re at the beginning of a new “golden age” for energy, driven by exponential computing demand. This deserves a place in your portfolio.

But let’s take it one step further…
The opportunities won’t stop at an electricity buildout for tomorrow.

Let’s return to Luke to explain why, and tell us where to look today to get ahead of the curve:

Hyperscalers are under intense pressure to ditch diesel and move to clean, modern, always-on solutions.

That’s why a new consensus is emerging: every AI data center should pair its grid power with onsite energy storage.

So, SMRs, gas, and renewables will keep the lights on, while batteries and fuel cells will keep things running even if the grid hiccups.

It’s a two-front energy war – power generation and reliability. And Wall Street hasn’t priced in the second front yet…

This is a bigger story that will require more space than we have for the rest of today’s Digest. So, we’ll circle back.

But here’s Luke’s preview:

Wall Street’s still asleep at the wheel.

Investors are treating batteries and fuel cells like some clean-tech sideshow. They’re not seeing what’s right in front of them: these systems are core AI infrastructure. 

That’s the blind spot – and the opportunity.

A quick recap of Amazon and Apple earnings
Yesterday, after the closing bell, Amazon reported that it beat on both revenues and earnings, while lifting its capital expenditures forecast to $125 billion for the year (from $118 billion).

Wall Street is cheering sales at Amazon Web Services, which climbed 20% from last year. The stock is up 10% as I write.

Apple also beat on both the top and bottom lines, but iPhone sales in China just missed forecasts, which is weighing on the stock slightly (AAPL is flat as I write).

However, management was bullish on Q4, forecasting revenue to climb 10% – 12% thanks to iPhone 17 upgrades.

Overall, the Magnificent Seven earnings this week have been strong – certainly nothing that’s dinging Wall Street’s enthusiasm for AI.

And so, the party rolls on…

(Disclaimer: I own AMZN and AAPL.)

Have a good evening and Happy Halloween,

Jeff Remsburg

Q2: 2025-10-30 Earnings SummaryEPS of $6.55 beats by $0.50

 |

Revenue of

$556.53M

(9.67% Y/Y)

beats by $13.61M

Cavco Industries, Inc. (CVCO) Q2 2026 Earnings Call October 31, 2025 1:00 PM EDT

Company Participants

Mark Fusler - Director of Financial Reporting & Investor Relations
William Boor - President, CEO & Director
Allison Aden - Executive VP, CFO & Treasurer
Paul Bigbee - Chief Accounting Officer

Conference Call Participants

Dan Moore - CJS Securities, Inc.
Greg Palm - Craig-Hallum Capital Group LLC, Research Division
James McCanless - Wedbush Securities Inc., Research Division
Jesse Lederman - Zelman & Associates LLC

Presentation

Operator

Good day, and thank you for standing by. Welcome to the Second Quarter Fiscal Year 2026 Cavco Industries, Inc. Earnings Call Webcast. [Operator Instructions] Please be advised that today's conference is being recorded. [Operator Instructions] I would now like to hand the conference over to your speaker today, Mark Fusler, Corporate Controller and Investor Relations.

Mark Fusler
Director of Financial Reporting & Investor Relations

Good day, and thank you for joining us for Cavco Industries Second Quarter Fiscal Year 2026 Earnings Conference Call. During this call, you'll be hearing from Bill Boor, President and Chief Executive Officer; Allison Aden, Executive Vice President and Chief Financial Officer; and Paul Bigbee, Chief Accounting Officer.

Before we begin, we'd like to remind you that the comments made during this conference call by management may contain forward-looking statements. Forward-looking statements include statements about our expected future business and financial performance and are not promises or guarantees of future performance. They are expectations or assumptions about Cavco's financial and operational performance, revenues, earnings per share, cash flow or use, cost savings, operational efficiencies, current or future volatility in the credit markets or future market conditions.

All forward-looking statements involve risks and uncertainties, which could affect Cavco's actual results and could cause its actual results to differ materially from those expressed in any forward-looking statements made by or on

Recommended For You

'Mad Money' host Jim Cramer talks the ongoing decline in Hershey shares and what is behind it.

TORONTO, Oct. 31, 2025 (GLOBE NEWSWIRE) -- Quantum BioPharma Ltd. (NASDAQ: QNTM) (CSE: QNTM) (FRA: 0K9A) (“Quantum” or the “Company”), a biopharmaceutical company dedicated to building a portfolio of innovative assets and biotech solutions, is pleased to announce that pursuant to the entry into its previously announced at the market offering agreement (the “ATM Agreement”) with H.C. Wainwright & Co., LLC (“Wainwright”) on February 16, 2024, announces today, the Company at its discretion may offer and sell, from time to time, through Wainwright as sales agent, Class B Subordinate Voting Shares in the capital of the Company (“Class B Shares”) having an aggregate offering price of up to US$21,225,000 (the “ATM Offering”). A cash commission of 3.0% on the aggregate gross proceeds raised under the ATM Offering will be paid to Wainwright in connection with its services.

Image source: Getty Images

On October 30, 2025, UG Investment Advisers Ltd. disclosed in an SEC filing that it sold 932,216 shares of Amkor Technology (AMKR +1.13%), an estimated $22.44 million trade based on average pricing for the third quarter.

The fund sold 932,216 shares of Amkor Technology; estimated transaction value of approximately $22.44 million

This change represents 3.5% of reportable AUM. The post-trade stake is 177,265 shares valued at $5.03 million.

The position now accounts for 0.79% of AUM, placing it outside the fund’s top five holdings.

What happenedAccording to a filing with the U.S. Securities and Exchange Commission dated October 30, 2025, UG Investment Advisers Ltd. reduced its holdings in Amkor Technology by 932,216 shares during the quarter. The estimated transaction value was $22.44 million, based on the average closing price for the period. The fund now holds 177,265 shares, with a reported value of $5.03 million.

What else to knowThis was a sell transaction, with Amkor Technology now representing 0.79% of UG Investment Advisers Ltd.’s 13F reportable assets under management.

Top holdings after the filing:

BABA: $278.22 million (47.7% of AUM)QCOM: $147.84 million (25.4% of AUM)MU: $93.57 million (16.05% of AUM)BEKE: $24.49 million (4.2% of AUM)VCSH: $13.72 million (2.35% of AUM)As of October 30, 2025, shares of Amkor Technology were priced at $31.92, up 19.4% over the year ended October 30, 2025, outperforming the S&P 500 by 0.65 percentage points over the same period.

Company overviewMetricValueRevenue (TTM)$6.45 billionNet Income (TTM)$307.78 millionDividend Yield2.31%Price (as of market close 10/30/25)$31.92Company snapshotAmkor Technology is a leading provider of outsourced semiconductor packaging and test services, operating at scale with a global footprint and a diverse customer base. The company leverages advanced packaging technologies and integrated solutions to address the needs of electronics manufacturers in high-growth markets. Amkor Technology's competitive advantage is its comprehensive service offerings.

Amkor Technology provides outsourced semiconductor packaging and test services, including wafer bump, probe, back-grind, package design, and advanced system-in-package modules for a range of electronic devices.

The company operates as a turnkey service provider, generating revenue primarily through packaging and testing solutions for integrated device manufacturers and fabless semiconductor companies.

Amkor Technology serves integrated device manufacturers, fabless semiconductor companies, original equipment manufacturers, and contract foundries across the United States, Asia, Europe, and other global markets.

Foolish takeIn a year defined by recovery and rotation across the semiconductor landscape, Amkor Technology has captured both sides of the cycle. UG Investment Advisers trimmed its stake in Amkor Technology in the third quarter, selling about 930,000 shares valued at $22 million. This appears more so a disciplined portfolio rebalancing move, the kind of action investors take when a position has served its purpose and the risk-reward balance starts to even out.

Amkor specializes in packaging and testing chips for major manufacturers, including Qualcomm and Micron, and is a key player in the semiconductor supply chain. Its expertise in advanced system-in-package technology gives it an edge in high-growth areas such as AI hardware and automotive electronics.

However, it's also a cyclical business where profits tend to swell when chip demand accelerates and contract when production slows. The company's performance is largely dependent on the broader production cycle, which reflects how capital spending and design innovation ripple downstream through suppliers.

Amkor's story is closely tied to the global need for processing power. As more computing shifts to the edge and new devices demand more efficiency, packaging specialists like Amkor are well-positioned to capture steady growth. Its role at the intersection of innovation and execution gives it leverage across every wave of chip development—a quality that helps it endure beyond any single market cycle.

GlossaryAUM (Assets Under Management): The total market value of investments managed by a fund or investment adviser.

13F reportable assets: Securities that institutional investment managers must disclose in quarterly SEC filings if they exceed certain thresholds.

Turnkey service provider: A company offering end-to-end solutions, handling all aspects of a process for clients.

Fabless semiconductor companies: Firms that design chips but outsource manufacturing to third-party foundries.

Integrated device manufacturers (IDMs): Companies that both design and manufacture semiconductor chips in-house.

System-in-package (SiP): An advanced packaging technology that combines multiple integrated circuits and components into a single module.

Wafer bump: A process in semiconductor manufacturing where small solder bumps are placed on a chip for electrical connections.

Back-grind: The thinning of semiconductor wafers to reduce package size and improve performance.

Probe: Testing individual semiconductor chips on a wafer before packaging to ensure functionality.

Outsourced semiconductor packaging and test services: Third-party services that assemble and test semiconductor devices for chip designers and manufacturers.

Dividend yield: A financial ratio showing how much a company pays in dividends each year relative to its share price.

TTM: The 12-month period ending with the most recent quarterly report.

SAN JOSE, Calif.--(BUSINESS WIRE)--NETGEAR, Inc. (Nasdaq: NTGR), a global leader in intelligent networking solutions designed to power extraordinary experiences, today announced that it granted inducement equity awards to new employees who recently joined the company. NETGEAR's inducement plan is used exclusively for the grant of equity awards to individuals who were not previously employees of NETGEAR, or following a bona-fide period of non-employment with NETGEAR, in each case as an inducemen.

The CEO was facing risks from Trump's tariffs, Google litigation and the AI craze. He turned to his playbook and now the iPhone maker is worth $4 trillion.

The networking company's stock jumped this week. Here's why.

Shares of Nokia (NOK 3.09%) spiked this week, finishing up 9.7%. The move came as the S&P 500 gained 0.7% and the Nasdaq-100 gained 2%.

After reporting better-than-expected numbers last Thursday, this week, Nokia announced that artificial intelligence (AI) powerhouse Nvidia is taking a $1 billion stake in the company.

Today's Change

(

-3.09

%) $

-0.22

Current Price

$

6.91

Nvidia backs Nokia
Nvidia's massive investment will help the company "accelerate its strategic plans to advance trusted connectivity for the AI supercycle and other general corporate purposes." That includes the development of next-generation 6G cellular technology.

Nokia has agreed to adapt its 5G and 6G software to run on Nvidia's chips. The company hopes to have a significant presence in the booming AI data center market. While most attention focuses on the chips that power AI models, the networking infrastructure connecting these systems is equally critical.

Analysts at Jeffries upgraded Nokia stock to a buy following the announcement.

Nokia has room to grow
Nokia is the latest company to see a major investment from Nvidia, which recently took stakes in Intel and OpenAI, among others. The spike this week makes Nokia stock pricey, but I think it will be justified in the long run with Nvidia in its corner.

Johnny Rice has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Nvidia. The Motley Fool has a disclosure policy.

Guidewire Software, Inc. (GWRE) Shareholder/Analyst Call October 29, 2025 6:00 PM EDT

Company Participants

Alex Hughes - Vice President of Investor Relations
Mike Rosenbaum - CEO & Director
John Mullen - President
Christina Colby - Chief Customer Officer
Jeffrey Cooper - Chief Financial Officer
Diego Devalle - Chief Product Development Officer

Conference Call Participants

Daniel Engelberger
John Chu
Paige Vincent
Rishi Jaluria - RBC Capital Markets, Research Division
Hoi-Fung Wong - Oppenheimer & Co. Inc., Research Division
Alexander Sklar - Raymond James & Associates, Inc., Research Division
Adam Hotchkiss - Goldman Sachs Group, Inc., Research Division
Dylan Becker - William Blair & Company L.L.C., Research Division
Aaron Kimson - Citizens JMP Securities, LLC, Research Division
Mohit Gogia - Jefferies LLC, Research Division
J. Lane - Stifel, Nicolaus & Company, Incorporated, Research Division
Joseph Vruwink - Robert W. Baird & Co. Incorporated, Research Division

Conversation

Alex Hughes
Vice President of Investor Relations

All right. Welcome. Welcome to Connections. Welcome to Guidewire Analyst Day. I'm Alex Hughes, Vice President of Investor Relations for Guidewire. It's an exciting time to be part of the company. Hopefully, a number of you had a chance to see the keynotes yesterday and some of the presentations today. I sat through a lot of them, and I was struck by how much the story is really coming together. A lot of the work the team has done with Guidewire Cloud Platform and the agile componentry and the possibility and the opportunity that's setting up for customers and us is pretty exciting to see.

And it's great to just see all elements come together into what we talk about as the Intelligent Insurance platform. So today, we're going to talk more about that. You're going to hear first from our CEO, Mike Rosenbaum. He's going to talk about powering Intelligent Insurance. Then you're going to hear from John Mullen, our President who's going to talk about our success to date

Recommended For You

CapitaLand Integrated Commercial Trust (OTCPK:CPAMF) Q3 2025 Earnings Call October 27, 2025 8:00 PM EDT

Company Participants

Allison Chen
Choon-Siang Tan - CEO & Executive Director of CapitaLand Integrated Commercial Trust Management Limited
Mei Lian Wong - Chief Financial Officer of CapitaLand Integrated Commercial Trust Management Limited
Lee Yi Zhuan - Head of Portfolio Management of CapitaLand Integrated Commercial Trust Management Limited

Conference Call Participants

Mervin Song - JPMorgan Chase & Co, Research Division
Geraldine Wong - DBS Bank Ltd., Research Division
Brandon Lee - Citigroup Inc., Research Division
Derek Tan - DBS Bank Ltd., Research Division
Vijay Natarajan - RHB Research Institute Sdn Bhd
Terence Lee - UBS Investment Bank, Research Division

Presentation

Allison Chen

I hope you can hear us. If you guys -- if you cannot hear us, please let us know. So before we get into it, let me share the agenda for today. So we will have Tan Choon-Siang, who will get us through the third quarter key highlights. After that, we'll delve into the Q&A. And then please also note that this meeting will be recorded.

A quick round of introductions of the management. We have today here Choon Siang, our CEO; Mei Lian, our CFO; Mei Peng, our Head of Investment; Yi Zhuan, our Head of Portfolio Management; and I'm Allison, Investor Relations at CICT. Okay. Now let's bring on Choon-Sian to share his highlights. Choon-Siang, please.

Choon-Siang Tan
CEO & Executive Director of CapitaLand Integrated Commercial Trust Management Limited

Good morning, everyone. Thanks for joining us today. I know you guys are excited to ask us questions. So we'll try to spend just a couple of 3 minutes. You probably have gone through the slide deck. I think safe to say this is quite a good quarter in terms of operating performance as well as financial performance. You can see that we are pretty much

Recommended For You

News Release Highlights: Battery X Discoveries, a wholly-owned subsidiary of Battery X Metals, in partnership with TerraDX, has successfully completed the preliminary AI-powered prospectivity modelling of its Nevada exploration initiative, conducted in collaboration with TerraDX. The analysis, powered by TerraDX's proprietary artificial intelligence system and informed by 60 curated geological datasets - including those from regions of known lithium mineralization - has identified multiple new prospective zones in Nevada.

, /PRNewswire/ -- Robbins Geller Rudman & Dowd LLP announces that the Synopsys class action lawsuit – captioned Kim v. Synopsys, Inc., No. 25-cv-09410 (N.D. Cal.) – charges Synopsys, Inc. (NASDAQ: SNPS) and certain Synopsys top executives with violations of the Securities Exchange Act of 1934.

If you suffered substantial losses and wish to serve as lead plaintiff of the Sypnosis class action lawsuit, please provide your information here:

https://www.rgrdlaw.com/cases-synopsys-inc-class-action-lawsuit-snps.html

You can also contact attorneys J.C. Sanchez or Jennifer N. Caringal of Robbins Geller by calling 800/449-4900 or via e-mail at [email protected]. Lead plaintiff motions for the Sypnosis class action lawsuit must be filed with the court no later than December 30, 2025, 2025.

CASE ALLEGATIONS: Synopsys provides electronic design automation software products used to design and test integrated circuits. Synopsys operates in two segments, Design Automation and Design IP.

The Synopsys class action lawsuit alleges that defendants throughout the class period failed to disclose that: (i) the extent to which Synopsys' increased focus on artificial intelligence customers, which require additional customization, was deteriorating the economics of its Design IP business; (ii) as a result, "certain road map and resource decisions" were unlikely to "yield their intended results"; and (iii) the foregoing had a material negative impact on financial results.

The Synopsys investor class action further alleges that on September 9, 2025 Synopsys released its third quarter 2025 financial results, revealing that Synopsys' "IP business underperformed expectations." Specifically, the complaint alleges that Synopsys reported quarterly revenue of $1.740 billion, missing its prior guidance of between $1.755 billion and $1.785 billion, and reported net income of $242.5 million, a 43% year-over-year decline from $425.9 million reported for third quarter 2024. Synopsys also reported its Design IP segment accounted for approximately 25% of revenue and came in at $426.6 million, a 7.7% decline year-over-year, and provided guidance which implied that Design IP revenues will decline by at least 5% on a full-year basis in fiscal 2025, the Synopsys shareholder class action alleges. On this news, Synopsys' stock price fell by nearly 36%, the complaint alleges.

THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or acquired Synopsys securities during the class period to seek appointment as lead plaintiff in the Synopsys class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the Synopsys class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the Synopsys class action lawsuit. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the Synopsys class action lawsuit.

ABOUT ROBBINS GELLER: Robbins Geller Rudman & Dowd LLP is one of the world's leading law firms representing investors in securities fraud and shareholder litigation. Our Firm has been ranked #1 in the ISS Securities Class Action Services rankings for four out of the last five years for securing the most monetary relief for investors. In 2024, we recovered over $2.5 billion for investors in securities-related class action cases – more than the next five law firms combined, according to ISS. With 200 lawyers in 10 offices, Robbins Geller is one of the largest plaintiffs' firms in the world, and the Firm's attorneys have obtained many of the largest securities class action recoveries in history, including the largest ever – $7.2 billion – in In re Enron Corp. Sec. Litig. Please visit the following page for more information:

https://www.rgrdlaw.com/services-litigation-securities-fraud.html

Past results do not guarantee future outcomes.
Services may be performed by attorneys in any of our offices. 

Contact:
          Robbins Geller Rudman & Dowd LLP
          J.C. Sanchez, Jennifer N. Caringal
          655 W. Broadway, Suite 1900, San Diego, CA 92101
          800-449-4900
          [email protected]

SOURCE Robbins Geller Rudman & Dowd LLP

Iris Coleman
Oct 31, 2025 23:49

Sei (SEI) token's value plummets by over 7% following its listing on Robinhood, amid a broader crypto market downturn and technical indicators suggesting further declines.

The recent listing of Sei (SEI) on Robinhood, a prominent $125 billion trading platform, did not yield the expected price surge for the cryptocurrency. Instead, the token experienced a significant price drop, falling by over 7% on October 30, 2025, according to CoinMarketCap.

Market Trends and Technical Analysis
Despite being made accessible to millions of Robinhood clients across the United States and other countries, the SEI token's price decline aligns with a broader slump in the cryptocurrency market. Technical analysis indicates potential further downside, with Sei's value already plummeting to $0.1835, marking a decline of more than 50% from its peak value in August. Additionally, the token has fallen by over 75% from its highs in November of the previous year.

Impact of Robinhood Listing
Historically, cryptocurrencies tend to rally following listings on major platforms like Robinhood. However, Sei's recent performance deviates from this trend, largely attributed to the prevailing negative sentiment in the crypto market. This downturn has overshadowed the positive impact typically associated with such listings.

Broader Market Influence
The decline in Sei's price is symptomatic of the broader challenges facing the cryptocurrency market. Factors such as regulatory uncertainties, macroeconomic conditions, and investor sentiment continue to exert pressure on digital assets, contributing to their volatile nature.

Future Prospects for Sei
While the current trajectory suggests more challenges ahead, the future of the SEI token remains uncertain. Market dynamics, technological advancements, and strategic developments within the Sei ecosystem could potentially influence its recovery and long-term growth.

Image source: Shutterstock

sei
robinhood
cryptocurrency

CryptoCurrency News

HBAR Price Rises 16% as Data Shows Whales Adjusting Positions

TL;DR Hedera (HBAR) rose more than 16% over the past week, recovering part of the losses after a month dominated by selling and sideways consolidation.

Technology

Is Quantum Computing an Immediate Threat to Bitcoin?

TL;DR Quantum computing could pose a threat to Bitcoin and other blockchains in the coming years, forcing the industry to develop solutions. Initiatives such as

CryptoNews

Studies Show Crypto Trading Impacts Mental Health Across Global Markets

TL;DR: Crypto trading significantly impacts mental health, causing stress, anxiety, and sleep disruption. High volatility and 24/7 market activity exacerbate cognitive fatigue and impulsive trading.

flash news

MEXC Finally Returns $3 Million to The White Whale After Dispute Over Frozen Funds

MEXC refunded $3 million in cryptocurrencies to the trader known by the pseudonym The White Whale following a public dispute over frozen funds.

CryptoCurrency News

Wall Street Lands on the Crypto Industry

TL;DR Citi and Western Union are leading stablecoin adoption on Wall Street. Mid-tier miners such as Cipher, Bitdeer, and HIVE Digital have increased their hashrate

Bitcoin News

Steak ‘n Shake Creates a Bitcoin Reserve and Launches a BTC Cashback Promotion

TL;DR Steak ‘n Shake and Fold launched a campaign across 400 U.S. locations offering $5 in Bitcoin for every meal purchase. The chain created a

Chainlink (LINK) rebounded strongly late Wednesday after a volatile trading session triggered by Federal Reserve comments sent shockwaves through the broader crypto market. The decentralized oracle network's native token bounced back from intraday lows, signaling early signs of accumulation even as technical indicators remain mixed.

With S2F in the rearview, the live power-law channel indicates that BTC is roughly 20% below fair value, but ETF flows could push it to either extreme.

Bitbo’s implementation of Giovanni Santostasi’s model places the price near $109,700, the fair value near $136,100, the support near $48,300, and the resistance near $491,800, which frames the current cycle within a rising corridor derived from a power-law fit to price over time.

The channel is constructed by running a linear regression of log(price) versus log(time since genesis), then duplicating that line in parallel to form upper and lower bounds that have historically contained cyclical extremes.

The result is a time-based compounding curve with rails that move upward as time passes, making the model more of a location map than a point forecast.

Bitcoin Power Law (Source: BiTBO)The core claim is simple to evaluate in live markets. Bitcoin trades about 20 percent below the fair-value regression and more than twice above the model’s floor, a mid-zone placement that contrasts with prior cycle tops and bottoms when the price tagged the channel’s resistance or support.

Parameterization used by BGeometrics expresses the fair-value curve as P ≈ 1.0117×10^-17 × (days since genesis)^5.82, with a commonly referenced floor at about 0.42 times the curve, which is consistent with the present gap between spot price and Bitbo’s lower rail.

The specification includes historical drawdowns while allowing for late-cycle overextensions toward the upper band.

The logic behind this approach treats adoption as a power function of time and expects volatility to decay as the network matures, a property that appears as tightening oscillations around the regression line over successive cycles.

Bitcoin holds its power-law lane as ETFs rewrite the cycleRecent flows help explain why the price is in the channel’s middle rather than at an extreme. Crypto exchange-traded products (ETPs) drew a record $5.95 billion in net inflows during the week ending October 4, 2025, with Bitcoin reaching an all-time high of approximately $126,000, alongside strong demand for U.S. spot Bitcoin ETFs.

The following two weeks showed that flows are not a one-way input. CoinShares recorded a swing to $3.17 billion of net inflows, followed by a reversal to $513 million of net outflows, including a single-week Bitcoin outflow of $946 million.

Over the last two days alone, $958 million has exited US Bitcoin ETFs, with $290 million leaving BlackRock on October 30.

That cadence is consistent with the power-law framing, where transitory demand surges or air pockets push price toward the upper or lower rails over weeks, while the long-run trajectory is anchored to the time-based power curve. October highs were tied to the breakout wave of ETF subscriptions, which are now a visible macro lever for crypto demand.

The forward question, therefore, is not whether the power-law structure still applies, but where within the channel Bitcoin will trade over the next leg.

A base-case path keeps the price oscillating around the regression, currently near $136,100, with a dampened amplitude if the volatility decay property holds.

A bull-case path would see continued ETF inflows and benign macro conditions pull the price toward the upper resistance, near $491,800 today, which prior cycles reached during late-stage runs.

A bear-case scenario would arise from macro tightening, a regulatory shock, or persistent ETF outflows that drive a retest of the lower rail near $48,300. This level has historically seen capitulation wicks before reentry into the channel.

These levels rise with time as the exponent on days since genesis compounds. The rails are directional guardrails, not fixed targets.

For readers tracking levels at a glance, the live model ranges are:

MeasureLevelSpot price≈ $109,700Fair-value regression≈ $136,100Support (floor band)≈ $48,300Resistance (upper band)≈ $491,800The debate over model choice is shaped by the breakdown of the once-popular Stock-to-Flow approach.PlanB’s S2F path called for $98,000 by November 2021 and $135,000 by December 2021, targets that were not met.

The price then spent years below the S2F trajectory, an out-of-sample failure that weakened confidence in using a univariate stock-to-flow ratio to set deterministic targets.

Vitalik Buterin has criticized S2F for providing false precision, and many analysts have identified methodological issues, including overfitting, the omission of demand and liquidity variables, and the treatment of halvings as step-wise valuation shifts that do not account for market microstructure.

Institutional researchers continue to caution that S2F is not a reliable tool for long-term pricing. That leaves S2F as a scarcity narrative rather than a forecasting model.

Stock-to-Flow Bitcoin Model (Source: BiTBO)Power-law adherents, by contrast, argue that the cycle length and amplitude can be bounded without hard-dating outcomes.

CryptoSlate has previously outlined broad windows in which Bitcoin would not sustain prices below roughly six figures after 2028 and could, at some point between 2028 and 2037, touch the seven-figure mark.

Those are ranges, not calendar calls, and they inherit the same caveats as any model that ignores policy shocks or structural changes in market access.

The new structural change is ETF flow, which functions as a demand valve that can overpower the marginal issuance cuts that halvings encode.

Sustained weekly spot inflows above $2 billion to $3 billion would raise the odds of an upper-band test, while persistent outflows would increase the probability of a regression or floor retest.

Macro liquidity, including the path of rates, the dollar, and central bank balance sheets, still takes center stage in determining whether the price holds above the regression or drifts toward the lower rail. That macro overlay is absent in S2F and is only indirectly present in the power-law fit, which is why practitioners track flows and policy alongside the channel.

Method clarity is crucial given the model’s increasing use in institutional decks.The power-law channel is constructed by taking daily BTCUSD closes, transforming them to log(price) versus log(time since genesis), fitting a simple linear regression as the fair-value curve, and then copying that line up and down in parallel to form resistance and support that historically enclose the price.

The elegance lies in its production of a monotonically rising, time-based framework with a visible margin of error, which, so far, has captured cycle extremes without claiming to know the date or magnitude of future blow-offs.

The cost is that it does not mechanistically incorporate known drivers, such as ETF demand or liquidity cycles, which must be monitored to understand where within the channel price is likely to reside in the near term.

For now, the live read is straightforward. Price sits about one-fifth below the regression, well above the floor, with ETF flows and macroeconomic conditions determining whether Bitcoin tags the upper band or fades toward support before reverting to the mean.

The channel continues to rise with time, and the rails define the tradable map.

Mentioned in this article

Bitcoin turns 17 and is no longer a niche asset; governments, ETFs, and corporations now hold a significant share of supply.Political leaders like Trump, Milei, and Bukele use Bitcoin as a symbol of sovereignty, anti-inflation, and financial freedom.With institutional products, Lightning, and tokenization, Bitcoin is shifting from speculative asset to core digital infrastructure.Bitcoin marks its 17th anniversary this week — no longer a fringe experiment, but a pillar of global finance. Published by Satoshi Nakamoto on October 31, 2008, the Bitcoin whitepaper laid the foundation for a peer-to-peer digital currency free from intermediaries. 

Seventeen years later, its reach now spans governments, major corporations, and institutional investors.

Sponsored

Sponsored

How Bitcoin Started From RebellionOnce dismissed as “money for hackers,” Bitcoin now sits in the portfolios of some of the world’s largest financial players. 

BlackRock alone holds about 3% of Bitcoin’s circulating supply, while publicly listed firms collectively own over 725,000 BTC. 

Private companies hold another 300,000 BTC, reflecting how deeply the cryptocurrency has penetrated corporate finance.

17 years after the white paper, the Bitcoin network is still operational and more resilient than ever. Bitcoin never shuts down.@SenateDems could learn something from that.

— Treasury Secretary Scott Bessent (@SecScottBessent) October 31, 2025
Sebastián Serrano, CEO and co-founder of Ripio, said Bitcoin’s evolution has validated early believers. 

“When we started Ripio in 2013, we knew the impact would be immense — and time has proven it,” he said. “Seventeen years after the whitepaper, the results are undeniable.”

Sponsored

Sponsored

Governments Join the FoldBitcoin’s reach now extends into national treasuries. Around 31% of its supply is held by centralized entities, including governments, ETFs, and public companies. This indicates a clear sign of institutionalization. 

El Salvador continues to treat Bitcoin as legal tender, reinforcing its use beyond speculation.

Michael Rihani, head of crypto at Nubank, said Bitcoin’s integration into mainstream finance cements its status as a legitimate asset class. 

“This shift bridges traditional and digital finance, expanding both access and credibility,” he explained. 

Brazil’s B3 exchange now lists Bitcoin ETFs and BDRs tied to global funds, giving conventional investors new exposure to the asset.

Sponsored

Sponsored

Money is an information theory problem

Okay, so Elon Musk replied to a post about Bitcoin's birthday (it's the 17th anniversary of the Bitcoin whitepaper being published) by saying, "Money is an information theory problem."

Let me break it down super simple.

Imagine money… https://t.co/VZcbi7lSl0

— Cern Basher (@CernBasher) October 31, 2025
From Financial Tool to Political SymbolBitcoin has also entered the political arena. US President Donald Trump — once a vocal critic — now accepts Bitcoin donations and pledges to make the US a global hub for mining and blockchain innovation. 

In Argentina, President Javier Milei champions Bitcoin as “money returning to the people,” a bulwark against inflation and monetary mismanagement. 

El Salvador’s Nayib Bukele went further, declaring it legal tender and building state reserves.

Sponsored

Sponsored

Such moves show that Bitcoin has evolved from just a technological topic to a political statement. 

For reform-minded leaders, it symbolizes sovereignty and financial freedom. For regulators, it represents a disruptive force to be integrated — or contained.

What’s Next for Bitcoin?Trading near $110,000, Bitcoin now faces twin paths: consolidation and transformation. Institutional adoption keeps growing, but so does innovation. 

Advances like the Lightning Network and tokenization on Bitcoin’s base layer could redefine how value moves globally.

All indicators point to the same conclusion — Bitcoin is the most valuable and transparent asset of the past decade, with a hard-capped supply of 21 million coins. 

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.

Bitcoin (BTC) extended its decline on Wednesday after Federal Reserve Chair Jerome Powell delivered unexpectedly hawkish remarks during his post-policy meeting press conference. The leading cryptocurrency fell over 5% in 24 hours, dipping below the $110,000 mark, as investors adjusted expectations for near-term rate cuts.

Chainlink’s native token, LINK, rebounded 3.6% on Friday, recovering from Thursday’s losses as traders bought around a key support zone. The cryptocurrency briefly surged past the $17 mark, accompanied by a significant increase in trading activity—over 3 million LINK tokens were exchanged during the morning breakout, signaling renewed accumulation according to CoinDesk Research insights. However, U.S. market hours saw some weakness, pulling LINK back below $17, where it last traded around $16.96.

The bullish momentum coincided with a major announcement from Stellar (XLM), which revealed its plans to integrate Chainlink’s Cross-Chain Interoperability Protocol (CCIP) along with Data Feeds and Data Streams. This integration will allow developers and institutions building on Stellar to access real-time, trusted cross-chain data infrastructure, enhancing support for tokenized assets and decentralized finance (DeFi) solutions. With over $5.4 billion in quarterly real-world asset (RWA) transaction volume, Stellar’s move signals a growing demand for secure, interoperable financial ecosystems leveraging Chainlink’s technology.

From a technical standpoint, LINK maintains solid support at $16.37, with upside targets at $17.46 and $18.00. The recent 78% surge in volume during the breakout confirms institutional participation, though strong selling volume later in the session reflected short-term rebalancing. Chart patterns indicate a potential oversold setup, which could attract further accumulation if market sentiment stabilizes.

For traders, holding above $16.89 could set up a retest of the $17.46 resistance level, with potential upside toward $18.00. The downside risk remains limited near the $16.37 support area. Whether LINK extends its rebound will largely depend on broader crypto market flows and sustained dip-buying momentum.

<Copyright ⓒ TokenPost, unauthorized reproduction and redistribution prohibited>

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Crypto pundit Mickle is reminding the crypto community why XRP still holds an essential place in the digital asset world. He explains that the value of XRP stems from its foundational role in the XRP Ledger. He believes many people misunderstand XRP by comparing it to stablecoins or other tokens, but that view misses the main point. 

Mickle Says XRP’s Value Is ‘Foundational,’ Not Just A Pitch
In a recent X post, Mickle said that most people in crypto still do not understand what makes XRP special. He explained that when people ask, “What’s the current pitch for XRP?” they are asking the wrong question. To him, XRP does not need a sales pitch because its value is foundational. The cryptocurrency doesn’t depend on price movements, short-term excitement, or temporary stories. Instead, it is part of the very system that powers the XRP Ledger.

Mickle compared XRP to well-known cryptocurrencies like Bitcoin and Ethereum, noting that they share common traits. They are native, non-issued assets that exist without a counterparty, meaning they are not created or backed by any one company or government. Like these leading cryptocurrencies, XRP provides the liquidity that allows value to move and settle across its decentralized network. According to Mickle, this is what gives XRP a lasting importance. It is not a token that depends on external promises or a central authority, but the heart of a decentralized system that operates independently.

XRP Ledger Depends On XRP’s Native Role In Decentralized Settlement
Mickle also suggests that the XRP Ledger cannot exist or operate without XRP. He said this is what many people miss when they compare XRP to other digital assets. The XRP ledger was built in a way that makes XRP an important part of how value moves and settles across the network. He noted that XRP’s speed, ability to handle many transactions, and connection with other systems make it stand out from most blockchains in the crypto space.

Using Ripple’s payment tools as examples, Mickle showed how XRP plays a key role in helping different kinds of assets, like stablecoins, tokenized assets, and cryptocurrencies, move smoothly across decentralized systems. These tools make it possible to send money anywhere in the world quickly and cheaply, without going through banks or middlemen.

Mickle added that XRP is a native digital asset, while stablecoins are tied to fiat money and rely on traditional financial systems to keep their value. He said this is what makes XRP unique and gives it real independence in the digital economy. 

This distinction, he said, is the very essence of crypto and the reason XRP continues to matter as a foundational digital asset. According to Mickle, understanding this difference is what separates those who genuinely understand crypto from those who do not.

Price rises after sharp decline | Source: XRPUSDT on Tradingview.com
Featured image created with Dall.E, chart from Tradingview.com

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.

Sign Up for Our Newsletter!
For updates and exclusive offers enter your email.

I'm Sandra White, a writer at Bitcoinist, and I provide the latest updates on the world of cryptocurrencies. I believe crypto a gateway to a new order and I have made it my life's mission to help educate as much people as possible.
When I'm not at work, I love listening to music, learning new things, and dream of traveling around the world.

Ethereum (ETH) is showing renewed strength as it edges closer to a potential breakout, according to CoinDesk Research’s technical analysis model. The world’s second-largest cryptocurrency climbed on higher-than-average trading volume before facing resistance near the $3,860–$3,880 range — a critical zone that traders are watching closely for signs of a bullish continuation.

Crypto analyst Michaël van de Poppe highlighted Ethereum’s strong fundamentals, noting on X that the network remains the best ecosystem to invest in, driven by active developer participation, expanding products, and powerful network effects. He suggested ETH could soon make a push toward a new all-time high above $5,000 if current momentum holds.

ETH gained 1.5% to $3,822.60, with trading volume up 19.01% compared to the seven-day average, indicating increased market participation. The coin traded between $3,771 and $3,822 during the session, recording higher lows throughout. Momentum peaked at 2 p.m. UTC, with a surge to $3,887.35, followed by a late-session pullback of 1.3% as sellers defended resistance levels.

Support remains strong between $3,680 and $3,720, cushioning early-session weakness, while resistance at $3,860–$3,880 continues to cap upside moves. A decisive reclaim above $3,880 could signal a bullish breakout, potentially retesting the $3,887.35 session high and paving the way toward record territory. Conversely, a drop below $3,720 could shift momentum back to sellers, exposing $3,680 as the next key demand zone.

The CoinDesk 5 Index (CD5) mirrored ETH’s movements, rising from $1,878 to $1,925 before easing to $1,901, suggesting profit-taking across major cryptocurrencies. With buyers active but resistance intact, traders are waiting for a clear move beyond the $3,730–$3,880 range to confirm Ethereum’s next major trend.

<Copyright ⓒ TokenPost, unauthorized reproduction and redistribution prohibited>

Cover image via www.freepik.com

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

This week has seen a significant decline in XRP's on-chain activity, as evidenced by recent data showing that payment volume, a key measure of network utility, has dropped by almost 70%.

XRP transfers between accounts have drastically decreased, according to metrics from over 700 million daily transactions at the beginning of October to about 230 million by the end of the month. Concerns regarding network demand and the general perception of Ripple’s ecosystem are brought up by this sharp decline in transactional flow.

XRP/USDT Chart by TradingViewThe decrease in payment volume points to either a short-term slowdown in remittance or institutional activity, or a more widespread drop in organic usage as the token tries to recover its market share. XRPs on-chain metrics have historically experienced prolonged declines in tandem with periods of price stagnation, and the current situation appears to be no exception.

Technically speaking, XRP is currently trading at about $2.49, just above short-term support but still below significant resistance levels indicated by the 100-day and 200-day  moving averages, which are respectively at about $2.78 and $2.81. The asset’s recent failure to hold above the trendline after attempting to break out of its descending wedge suggests that bearish sentiment is still present.

Momentum is still weak, as indicated by the RSI near 45, which shows a neutral position but leans slightly toward bearish territory. A noticeable slowdown in on-chain throughput, along with market skepticism regarding Ripple’s continuing regulatory environment, may limit XRP’s upside in the near future.

The $2.40-$2.35 area is still important as short-term support for the time being; if it is lost, there may be another correction toward $2.10 or even lower if selling pressure increases. Regaining $2.80, with a verified breakout, on the other hand, would be the first indication of a recovery and a resurgence of network demand.

Shiba Inu is not feeling goodAs the larger cryptocurrency market steadies, Shiba Inu is still having trouble, and is not showing any signs of improving. The token has once again dropped below important short-term support levels, which raises the possibility of additional declines.

SHIB is still trapped in a long, descending channel that has dominated its price action for months, with its current price hovering around $0.0000099. The general trend is still bearish, despite short-term recoveries. Constant selling pressure is highlighted by the recent unsuccessful attempt to break above $0.0000105, a minor resistance line that is in line with the short-term ascending line.

You Might Also Like

Even worse is the overall technical picture, which shows that SHIB is trading far below its 200-day and 100-day moving averages, which have both served as formidable resistance since September (roughly $0.0000128). Every time the token got close to these thresholds, sellers swiftly took back control and drove the price back down.

At 41, the RSI shows no indications of bullish divergence and weak momentum. Additionally, volume has decreased in comparison to previous spikes, suggesting that market players are becoming disinterested, and that volatility is waning, which frequently signals the start of a subsequent decline.

The next logical support is located close to $0.0000075, where buyers previously intervened during the previous sell-off, if SHIB is unable to hold above that level. Shiba Inu’s ecosystem has essentially slowed down, and on-chain data indicates that big holders haven’t accumulated much. There is little chance that the token will change its direction anytime soon, unless there is a catalyst or new demand.

Ethereum loses $4,000Ethereum is currently trading just below the crucial $4,000 mark, which is both a technical and psychological barrier that may determine the course of the market’s future. Following weeks of oscillation, ETH is currently trading at about $3,850, demonstrating its tenacity in the face of numerous unsuccessful breakout attempts and enduring resistance pressure.

Encircled by the 200-day and 100-day moving averages, the daily chart shows Ethereum’s continuous consolidation between $3,600 and $4,200. Throughout the year, these levels have served as both launch pads and rejection zones. ETH is currently holding onto support close to $3600, which has kept a more severe breakdown at bay thus far.

You Might Also Like

Market caution persists, though, as any decline below this level could expose ETH to a retracement toward $3,400. Momentum measures like the RSI, which is circling 44, are neutral but bearish, indicating that purchasing power is still low. Volume has also decreased, suggesting that traders are unsure and are awaiting a signal.

The crucial $4,000-$4,200 range would need to be reclaimed to signal that bulls are taking back control, and could pave the way for $4,500-$4,800, particularly if Bitcoin stays stable above $110,000. Ethereum’s weakness in comparison to Bitcoin, which has been a recurring theme throughout October, would be confirmed by further rejection around $4,000.

When money moves into BTC and large-cap altcoins with greater momentum, ETH may stay range-bound or gradually decline. Investors should not panic, but rather exercise patience during this time. Although the structure is still in place, Ethereum must close above $4,000 with volume in order to return to a bullish outlook. Until that time comes, ETH is balancing between holding onto support and entering another corrective phase, which makes the $4,000 breakout crucial.

Tech entrepreneur and billionaire Elon Musk is set to launch a standalone messaging app called “X Chat” to compete with Telegram and WhatsApp, with a rollout expected within the next few months. 

“On X, we just rebuilt the entire messaging stack into what’s called ‘X Chat,’” said Musk during The Joe Rogan Experience podcast, which aired on Friday. 

“It’s using a peer-to-peer-based encryption system, kind of similar to Bitcoin. It’s very good encryption; we’re testing it thoroughly.” Musk said he hopes the new messaging app will be released in a “few months,” adding it won’t have any “hooks for advertising” as he pointed to competitors like WhatsApp, which “knows enough about what you’re texting to know what ads to show you,” he said. 

“But then, that’s a massive security vulnerability because if it knows enough information to show you ads, that’s a lot of information,” he said, adding that hackers could use those same “hooks” to read private messages. 

Does WhatsApp read your messages?WhatsApp’s parent company, Meta, claims it doesn’t have access to private messages, explaining in its FAQ that messages between people are end-to-end encrypted using the Signal Protocol. This also covers voice messages, media and documents. 

WhatsApp’s FAQ on how its end-to-end encryption works. Source: WhatsAppHowever, it’s understood that “metadata,” such as who you chatted with and how often you talk with them, is not encrypted. WhatsApp also does not automatically encrypt backup copies of your chat history. 

WhatsApp’s FAQ section on “Does WhatsApp collect or sell your data?” skirts answering the latter part of the question, only explaining that “we work with other Meta Companies to help provide, improve and support each other’s services.”

“If you choose to integrate your WhatsApp experience with other Meta products, we will share some information with Meta to make this possible.”

X Chat won’t have these hooks, says Musk Musk promised that X Chat won’t have these advertising “hooks.” 

“I’m not saying it’s perfect, but our goal with X chat is to replace what used to be the Twitter DM stack with a fully encrypted system where you can text, send files, do audio video calls, and I think it will be the least insecure of any messaging system.”

He added that the messaging app will be available as part of the X platform and as its own standalone app. 

Magazine: Grokipedia: ‘Far right talking points’ or much-needed antidote to Wikipedia?