Market Signal Briefing

With "International" literally in its name, you'd think IBM would be panicking about tariffs. Think again -- the numbers tell a different story.

Trade tariffs are mixing up the global economy in 2025. The Trump administration has issued double-digit import fees on goods from most countries, with even higher rates in markets like China and India. Some of these tariffs are currently in effect, while others are pending, with a patchwork of countermeasures issued by the targeted countries. To keep an eye on this messy situation, check out The Motley Fool's tariff and trade investigation tracker -- a living document that does all the hard data-tracking work for you.

Few companies are more international than IBM (IBM 1.82%) -- Big Blue even has "international" in its name. It runs research labs on six continents, has more employees in India than the United States, and runs business offices in more than 170 countries. Almost exactly half of IBM's revenues were collected in the Americas in 2024, which also includes Canada and Latin America.

Surely this global giant must feel the pinch from criss-crossing tariff policies, right? As it turns out, IBM isn't too concerned with the ongoing trade tensions.

Image source: Getty Images.

How exposed is IBM to the tariff tango?
There are different ways to figure out IBM's tariff exposure. I could take the complicated web of current and future tariff rates, apply them to each of IBM's products and services in various countries, and create an intimidating spreadsheet. Or I could look for management's statements about the tariff challenge.

The company helped me out by addressing the unpredictable tariff policies in the first-quarter earnings call. This call took place on April 23, three weeks after Trump's "Liberation Day" tariff announcement.

"Over the last several years, we have strategically diversified and streamlined our supply chain," said CFO Jim Kavanaugh. "Goods imported to the U.S. represent less than 5% of our overall spend and under current U.S. tariff policy, the impact to IBM is minimal."

Why IBM shrugs at tariff headlines
That brief statement means a couple of things to me:

It's IBM's only official discussion of tariffs in 2025, even though the trade expenses have shifted significantly since April. In other words, the tariff issue is hardly worth mentioning.
Applying tariff rates to "less than 5%" of IBM's global spending is not exactly nothing, of course. I'd hate to cover that multimillion-dollar bill from my personal accounts. IBM still builds mainframe computers, requiring parts from tariff-laden countries like China or the European Union. But the cost of products and services stopped at 16.3% of total revenues last year, and 5% of that gross expense ratio is less than 1% of IBM's incoming revenues. Even if every tariff were a beefy 100% surcharge, that's a pretty manageable extra cost -- and most of the international trade fees are far smaller.

IBM plays it safe anyway
I'm still waiting for IBM to issue further updates about the tariff situation, but I'm not holding my breath in anticipation. Yes, the company is tremendously global, but it can still operate comfortably without running into game-changing tariff expenses.

At the same time, IBM is taking action to minimize even this modest financial impact. Kavanaugh also noted that IBM is looking into alternative sources for tariff-laden components. Every dollar counts, you know.

Furthermore, Big Blue announced a $150 billion American investment plan at the end of April. The company will move significant manufacturing and research assets to domestic soil over the next five years, starting with $30 billion of mainframe development and quantum computing research operations. Again, the tariffs don't really hurt, but it can't be a bad idea to minimize the financial sting anyway. Plus, this homebound manufacturing move might unlock unrelated favors from the Trump team.

So, it makes sense to take some tariff-dodging action, but IBM would barely notice the extra costs anyhow. I don't expect Big Blue to suffer a tariff-related downturn any time soon.

Anders Bylund has positions in International Business Machines. The Motley Fool has positions in and recommends International Business Machines. The Motley Fool has a disclosure policy.

, /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC, a nationally recognized law firm, notifies investors that a class action lawsuit has been filed against MoonLake Immunotherapeutics ("MoonLake" or "the Company") (NASDAQ: MLTX) and certain of its officers.

Class Definition

This lawsuit seeks to recover damages against Defendants for alleged violations of the federal securities laws on behalf of all persons and entities that purchased or otherwise acquired MoonLake securities between March 10, 2024 and September 29, 2025, both dates inclusive (the "Class Period"). Such investors are encouraged to join this case by visiting the firm's site: bgandg.com/MLTX.

Case Details

The Complaint alleges that, throughout the Class Period, Defendants made materially false and misleading statements and/or failed to disclose that: (1) MoonLake misrepresented the efficacy of its drug candidate, sonelokimab (SLK), by claiming it was superior to other monoclonal antibodies despite lacking evidence of any proven advantages; (2) the Company repeatedly promoted SLK's superiority while knowingly omitting material facts about its comparative performance; (3) the Phase 3 trial results of SLK, which analysts described as "disastrous," revealed the drug's shortcomings and caused MoonLake's stock to lose nearly 90% of its value; and (4) as a result, the Company's public statements regarding SLK and its prospects were materially false and misleading throughout the Class Period. When the market learned the truth about MoonLake's misrepresentations, investors suffered significant damages.

What's Next?

A class action lawsuit has already been filed. If you wish to review a copy of the Complaint, you can visit the firm's site: bgandg.com/MLTX. or you may contact Peretz Bronstein, Esq. or his Client Relations Manager, Nathan Miller, of Bronstein, Gewirtz & Grossman, LLC at 332-239-2660. If you suffered a loss in MoonLake you have until December 15, 2025, to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as lead plaintiff.

There is No Cost to You

We represent investors in class actions on a contingency fee basis. That means we will ask the court to reimburse us for out-of-pocket expenses and attorneys' fees, usually a percentage of the total recovery, only if we are successful.

Why Bronstein, Gewirtz & Grossman

Bronstein, Gewirtz & Grossman, LLC is a nationally recognized firm that represents investors in securities fraud class actions and shareholder derivative suits. Our firm has recovered hundreds of millions of dollars for investors nationwide.

Follow us for updates on LinkedIn, X, Facebook, or Instagram.

Attorney advertising. Prior results do not guarantee similar outcomes.

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332-239-2660 | [email protected]

SOURCE Bronstein, Gewirtz & Grossman, LLC

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NEW YORK, Oct. 19, 2025 (GLOBE NEWSWIRE) -- Attorney Advertising--Bronstein, Gewirtz & Grossman, LLC, a nationally recognized law firm, notifies investors that a class action lawsuit has been filed against Nutex Health Inc. (“Nutex” or “the Company”) (NASDAQ: NUTX) and certain of its officers.

Class Definition

This lawsuit seeks to recover damages against Defendants for alleged violations of the federal securities laws on behalf of all persons and entities that purchased or otherwise acquired Nutex securities between August 8, 2024 and August 14, 2025, both dates inclusive (the “Class Period”). Such investors are encouraged to join this case by visiting the firm’s site: bgandg.com/NUTX.

Case Details

The Complaint alleges that, throughout the Class Period, Defendants made materially false and misleading statements and/or failed to disclose that: (1) HaloMD was generating lucrative arbitration outcomes for Nutex by engaging in a coordinated scheme to defraud insurance companies; (2) revenues derived from Nutex’s engagement with HaloMD in the IDR process were unsustainable to the extent they resulted from fraudulent conduct; (3) the Company overstated both the extent to which it had remediated, and its ability to remediate, material weaknesses in its internal controls over financial reporting; (4) as a result, Nutex was unable to account for the treatment of certain stock-based compensation obligations effectively; (5) Nutex improperly classified these stock-based compensation obligations as equity rather than liabilities;
(6) the foregoing increased the risk that Nutex would be unable to timely file certain financial reports with the United States Securities and Exchange Commission (“SEC”); (7) accordingly, Nutex’s business and financial prospects were overstated; and (8) as a result, Defendants’ public statements about the Company’s business, operations, and prospects were materially false and misleading at all relevant times.

What's Next?

A class action lawsuit has already been filed. If you wish to review a copy of the Complaint, you can visit the firm’s site: bgandg.com/NUTX. or you may contact Peretz Bronstein, Esq. or his Client Relations Manager, Nathan Miller, of Bronstein, Gewirtz & Grossman, LLC at 332-239-2660. If you suffered a loss in Nutex you have until October 21, 2025, to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as lead plaintiff.

There is No Cost to You

We represent investors in class actions on a contingency fee basis. That means we will ask the court to reimburse us for out-of-pocket expenses and attorneys’ fees, usually a percentage of the total recovery, only if we are successful.

Why Bronstein, Gewirtz & Grossman

Bronstein, Gewirtz & Grossman, LLC is a nationally recognized firm that represents investors in securities fraud class actions and shareholder derivative suits. Our firm has recovered hundreds of millions of dollars for investors nationwide.

Follow us for updates on LinkedIn, X, Facebook, or Instagram.

Attorney advertising. Prior results do not guarantee similar outcomes.

Contact

Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Nathan Miller
332-239-2660 | [email protected]

Investors interested in tech stocks will find that each presents different value propositions.

There's no doubt that over the past decade, the tech sector has been the most rewarding for investors. In fact, nine of the world's 10 most valuable companies are now tech companies, with each of them having a market cap of at least $1.4 trillion (as of Oct. 15). 

There are plenty of tech stocks that make for great investments, but one of the best ways to take advantage of the tech sector's growth is by investing in a tech-focused exchange-traded fund (ETF). These ETFs provide exposure to the tech sector while minimizing the risks that come with investing in individual tech stocks.

Two tech ETFs that are popular choices are the Invesco QQQ Trust ETF (QQQ 0.66%) and the Vanguard Information Technology ETF (VGT 0.24%). Each does a good job at providing exposure to the tech sector, but if you had to choose one, which one should you select?

Image source: Getty Images.

What each ETF focuses on
QQQ is an ETF that mirrors the Nasdaq-100. The Nasdaq-100 is a subset of the Nasdaq Composite, containing the largest 100 non-financial companies trading on the Nasdaq stock exchange. Although it's not a pure-tech ETF, the tech sector makes up over 60% of the fund.

On the other hand, VGT is more of a pure-tech ETF. It contains 314 companies, all from the information technology (tech) sector. Most of the companies are large-cap companies, but there are mid-cap and small-cap tech stocks included.

The two ETFs share four companies in their top 10 holdings:    

Company
Percentage of QQQ
Percentage of VGT

Nvidia
9.56%
17.16%

Microsoft
8.34%
13.35%

Apple
8.03%
13.09%

Broadcom
5.85%
4.47%

Data sources: Invesco and Vanguard. Invesco holdings as of Oct. 10. Vanguard holdings as of Sept. 30.

Both ETFs are weighted by market cap, which is why these megacap tech stocks account for such a large portion of the ETFs.

How each ETF has performed in the last decade
Both QQQ and VGT have had very impressive returns over the past decade, but VGT has outperformed QQQ by 616% to 468% in that span. This works out to 21.8% and 19% average annual returns, respectively.

VGT data by YCharts.

Much of VGT's outperformance has come in the past year, particularly with the explosion in growth from Nvidia, which accounts for a large part of the ETF.

So, which ETF is the better choice for investors wanting to invest in tech?
There are a couple of things that stand out about VGT. First, its performance over the past decade compared to QQQ's. Additionally, it's cheaper than QQQ, with a 0.09% expense ratio compared to QQQ's 0.2% expense ratio. That 0.11% difference seems small on paper, but it adds up over time to a real difference in returns. If you were to invest $500 monthly into each and average 10% annual returns, you'd pay over $4,200 more in fees in 20 years with QQQ.

All that said, I still lean toward QQQ being the better option because it's more diversified than VGT. I wouldn't consider either of them "diversified" in a traditional sense, but four companies -- Nvidia, Microsoft, Apple, and Broadcom -- accounting for 48% of VGT is cause for caution in my opinion.

This heavy concentration has worked out in VGT's favor, but the same thing that made it soar can also make it tumble if those companies experience a pullback (which isn't far-fetched, given their high valuations). As those companies perform, so does VGT for the most part.

QQQ is also heavily weighted in those companies, but it has other non-tech companies in its holdings that can help pick up the slack if the tech sector goes through a down period. With QQQ, you get exposure to some of the world's top tech companies, yet performance isn't solely reliant on their performance. That's a better approach for long-term investors.

Stefon Walters has positions in Apple and Microsoft. The Motley Fool has positions in and recommends Apple, Microsoft, and Nvidia. The Motley Fool recommends Broadcom and recommends the following options: long January 2026 $395 calls on Microsoft and short January 2026 $405 calls on Microsoft. The Motley Fool has a disclosure policy.

The Amazfit brand has helped Zepp Health bounce back in a big way after years of negative returns.

After several years of losses, Zepp Health Corporation (ZEPP -3.29%) took off in 2025. The manufacturer of smart wearable technology is up over 1,900% on the year, as of Oct. 16, and most of that growth came during the last three months. That's much better than Apple, the leader in wearable devices, which has lost about 1%.

What turned around Zepp Health's performance? One strategic shift has made all the difference.

Image source: Getty Images.

Building its own Amazfit brand is driving growth
Zepp Health began as Huami, a spinoff from Chinese electronics giant Xiaomi. Huami sold Xiaomi-branded wearables through a licensing agreement, making it highly reliant on that company.

In 2021, Huami rebranded to Zepp Health and started transitioning away from the Xiaomi brand. It focused on developing its existing Amazfit line of smartwatches and fitness trackers. This was a risky move, and until recently, Zepp Health's share price and revenue were consistently trending downward.

Now, however, it's looking like a smart decision. Zepp Health reported revenue of $59 million in the second quarter of 2025, a 46% year-over-year increase and its first overall revenue growth since 2021. Crucially, it also reported that the growth came entirely from Amazfit products.

In addition, Amazfit has been building a roster of elite athletes to serve as brand ambassadors. One of the latest big names is Baltimore Ravens running back Derrick Henry, who joined Amazfit in July.

Zepp Health is still a risky company and not profitable yet. If you're just looking for a steady performer, Apple, despite lackluster recent returns, is the better way to go. But if you're looking for smaller tech companies, particularly wearables manufacturers, Zepp Health is one to watch and potentially add to your portfolio.

Lyle Daly has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Apple. The Motley Fool recommends Xiaomi. The Motley Fool has a disclosure policy.

Silver Place/iStock via Getty Images

Listen here or on the go via Apple Podcasts and Spotify

Fundstrat economic strategist Hardika Singh shares why she's shocked by how strong this market has been despite so many curveballs thrown at it (0:30). News priced in this relentless bull market (8:00). ETFs and stock picking (13:15). Buying the dip will power us to new highs (19:20). Puzzling economic data (21:30). Gold's surprising rally (27:00)

Transcript

Rena Sherbill: Very happy to welcome to Seeking Alpha, to Investing Experts, Hardika Singh, economic strategist at Fundstrat. Welcome to the show, Hardika. Really great to have you on.

Hardika Singh: I'm so excited to be here.

RS: It's great to have you. So talk to us about how you're thinking, briefly speaking, give us a general overview of how you're looking at these markets. Smack dab in the October. How how are you thinking about things generally speaking these days?

HS: I am just completely shocked by how strong this market has been even though there's been so many curveballs thrown at it.

You have the shutdown right now, and it's looking out, it's not short by any means. It's been many, many days now.

We have tariffs. We have a rise in geopolitical tensions and trade wars. And despite it all, this AI driven bull market, it's been all gas, no breaks. So I'm just completely surprised in a happy way about how strong this market has been.

RS: What would you say is the number one place that you're looking or you would encourage retail investors to be looking at this market in terms of capturing the most alpha? Is there a place that you're looking at that you would categorize as such?

HS: The most alpha, I think, can be, this is going to sound like a cop out answer, but it's really tech. Tech and utilities.

This AI driven bull run that we're seeing right now is not only benefiting tech stocks because of the other chipmakers, but we also have a huge surge in demand for power generation and these data centers that are being built out.

And I think utilities has been a big beneficiary in that. I have to double check, but I think that utility sector in the S&P 500 (SP500) is one of the top performers this year.

So I think that's just another sign that you can look outside of tech, but it still remains in this AI circle and will benefit big from that boom.

RS: What would you say about the data centers and utilities? How would you encourage investors to think about the bigger players, the up and coming players? How do you think about that theme?

HS: I think that the biggest sign of that can be seen right now in what's happening with Russell 2000.

Since the market low in April due to Liberation Day, Russell 2000 has been on a steady climb higher. And it wasn't until the past month that people really started to pay attention to it.

They're a very unloved group of the market. You're all large caps all the time, but then you have small caps.

No one cares about them as much. But if you look inside this recent rally posted by small caps, you will see that a lot of these players that are winning are actually tied to technologies, industrials, and utilities. So you have to look deeper in there.

And if I could just name a few stocks, you have Credo Technology (CRDO) shares. They've almost doubled this year. They make electric cables, and obviously, electric cables right now are benefiting from this current data center build out.

You have Bloom Energy (BE). Their shares have almost quintupled this year. They have fuel cells that can turn natural gas or hydrogen into electricity, which is in high demand right now.

Again, we need power to have these data centers. And then you have Oklo (OKLO), which is like a nuclear play, shares of which have more than sextupled, also lifted higher by the same AI enthusiasm. And full disclosure, after double, triple, quadruple, I kinda had to look out what comes next.

I think that this same wave of AI enthusiasm is also carrying smaller players and more it's not just the legacy players anymore. You have smaller ones too participating.

RS: That's funny. That maybe the best way to synthesize what's happening in the tech space, which really, as we talk about a lot on this podcast, is ever reaching every day ever further. But to say, what's the word for five times that? That's where we're at.

As we're talking, I realized for people that don't know, would you give a little bit of your background about how you got into investing and what has changed for you since the beginning until now and what maybe you've been rethinking.

Like, you talked at the beginning about being surprised by the length of this run. Maybe what that has catalyzed for you in terms of strategy or what has further entrenched your strategy perhaps?

HS: So I work as an economic strategist at FundStrat, and that's just really a fancy title for somebody who reads and writes and talks all day every day. And it's a really fun job because who doesn't wanna read and write every day. `I look at markets. I figure out what's the best way to look at the signals that are going on and synthesize them in a way that makes sense, makes it entertaining for people to read.

I think that, with this year's market, I personally was in the bearish camp when tariffs were being thrown around earlier this spring. And I was on vacation in in Mexico, and I had just landed. And I was headed to the hotel, and I remember seeing all the news because I wasn't keeping in touch with my phone during the four hour flight.

And then I saw all the news, and I was just like, oh, no. The stock market is not gonna handle this very well. And sure enough, the next few days, they were very, very volatile.

And I think that I was in one of those bearish camps because I was just like, I just don't see how consumers and corporations are going to take this in stride and say that, you know what? This is not a big deal. We're gonna be just fine.

But over the next few few months and few weeks, I was surprised at how the stock market kept recovering, and I think part of that was due to how fast the stock market fell. The news was just announced. We didn't even know if the tariffs were going to go into effect and actually cause a decline in economic activity. We didn't know all these things.

But still, the stock market fell so much. And I think the reason why we have continued to recover from it is because so far it's mostly corporations and businesses that are paying these tariffs.

A big impact hasn't been seen on consumers, at least from the economic data that was released before the shutdown. I think I saw this stat that about 51% of the tariffs are being paid by US businesses right now versus 37% by consumers.

I think that the president pretty early on was really, really, clear that he didn't want corporations to be charging consumers these taxes on the people air quotes.

And I think that's what's helped keep the stock market afloat. And at the same time, we have this huge AI bull run that shows no signs of slowing down. And I think that has really helped change the sentiment.

And for me, at least, I think that instead of focusing on this glass half empty view, I'm focusing on this glass half full view, and I think that's what other investors are looking at as well. That was the biggest change for me.

RS: And it seems also that things that are priced in, which explains the sustained bull market, and it seems like that's a big factor in this run. Would you agree with that?

HS: Yes. I think so. And I think that's why when even just a little bit of bad news comes in, stocks get hit, and then the next day, we recover.

I think that people are just sitting on the edge of their seats right now. Investors are sitting on the edge of their seats right now. And I think they're just looking for any argument to not believe in this bull market.

And that's something I've been writing about to our clients all year long that you can keep looking for a thousand reasons, but the fact of the matter is that this is a bull run that's relentless. And if you don't participate, you're going to get left behind.

RS: And what would you say about those those somewhat grizzled veterans or the not somewhat grizzled veterans, but those who have come from a more historical perspective and have looked at previous bubbles being popped and just prefer to be uber conservative?

Would you say the flip side to that is you just have to pick your place so you don't get punished when the bubble does prick, or do you think the bubble looks different this time or the pricking of the bubble looks different this time?

HS: Just the other day in our one of our notes, we ran this quote from Sir John Templeton that this time is different are some of the most dangerous words in the stock market.

And I think, that's a very valid argument. There are valid concerns that this might be a bubble. These AR circular investments specifically are signaling that this might be a bubble.

And I think that when you as an investor have lived through the dot com bubble, the financial crisis, it changes the way you think about investing. It changes your psychology.

And we have had a huge influx of investors since COVID 19 that are of this younger generation who haven't really been through these terrible periods in economic history.

And they don't they don't have that perspective. So they're helping push this market to new highs, whereas we have these other veterans who are very, very bearish.

Almost every every day, I see headlines from a top investor, a billionaire investor saying, no. This is not a good market. Sell, sell, buy gold. But I think these are all just concerns that are keeping you from long term investing.

If you're a long term investor, you have to stay focused, and you can't time the market. You don't know if it's a bubble. You don't know if it's gonna pop or if it's gonna pop next year. So I think you have to focus on the good side of things here.

So the bullish argument here is that you keep seeing these circular flowchart variations all over the internet these days, of how OpenAI is investing money into (AMD), and then Oracle's (ORCL) investing money into AMD, and then NVIDIA (NVDA) itself is putting money into OpenAI, and they're all putting money into CoreWeave (CRWV) and this circular bubble chart.

And I think that is the biggest contrarian indicator itself. If people on Wall Street are making flowcharts that look like really cute graphics, it's fine. We're gonna be okay, you guys. I don't think the enthusiasm has run ahead of itself.

Besides, I think that these large circular investments are necessary when we have a technological breakthrough the likes of AI happen so that scale can be achieved faster.

And that's why I think that we can't really compare this to previous build outs in history, like the railways or the fiber optic grids because it's just so different in that respect.

We are still finding out in which AI will be beneficial and all the ways we can monetize it.

I think that's why I'm not too bearish about this bubble yet because we're still seeing a really high demand for this compute power. And if we didn't have this demand for compute power from these companies, I'd be like, okay. Hold on. We've bid up the shares of these data centers and utility players so much because of AI, and they're not even seeing demand for it.

So in this case, it's better for these companies to be investing in others because they're noting demand for it. I think it was Greg Brockman who said the OpenAI president and cofounder, he said that I'm far more worried about us failing because of too little compute than too much.

I think that the greater risk right now is that you don't build out enough. I think we need to keep building this out and see where it goes. And, hopefully, it's not a bubble. There's no good way of knowing. But, I think that's what I'd tell to the veterans.

RS: Another change that we have seen in the intervening years from the last big bubble, let's say, or in just recent years in general, and I think that has inspired and attractive attracted a lot of younger investors, newer investors, has been the influx of ETFs into investing.

With these market highs, with this AI bull, it gets more and more specified and more and more nuanced, but the ETF market still stays broad as well as it was originally marketed to investors as a broader way to be invested.

What would you say in terms of investing, specifically retail investors, and what you're seeing out of the ETF space and how you think about in terms of - is this a stock picking environment? Is this a good place to get into ETFs? How are you thinking about that comparison with ETFs and stocks?

HS: Just by top level numbers, the mood right now for ETFs is good.

September saw about 115 ETF launches, which is the highest yet for a single month in 2025, and that's up 55% from August. That's really good because you have to remember that ETFs are a very long game.

As an ETF manager, you're not gonna go through all the hard work of getting the paperwork ready and filed and all the marketing pieces done if you don't feel confident enough that the market is in a good place right now.

And I think that if ETF managers are putting out all these ETFs at this moment, then that means that they're bullish on the market.

They think that there's demand for it. And as of now, I think the Round Hill meme ETF (MEME), that might have made a comeback. The Round Hill meme ETF, it was really like the poster child for the COVID era meme stock boom. And just recently, it announced that it's coming back with a new set of meme stocks in it.

And I think that with investors, retail specifically, ETFs are a good way to get diversified, especially if you're worried about a bubble, ETFs might be a good way to see that okay. If I'm buying the S&P 500, I'm getting so much of NVIDIA. I'm getting so much of all these other big magnificent players in it.

I don't really wanna own all that. I wanna own energy stocks instead because of how well they're doing or something. Just throwing this out there.

If they wanna do that, then you can buy a sector specific or something from Invesco or iShares that can help you get that diversification that you can get in a regular index fund at this moment because it continues to be so overpowered by these tech players.

I think in cases like that, it's better. And there's also so many stocks that don't ever make it into the S&P 500, or even in some of the other players.

And I think in cases like that, it definitely makes sense for you to get your diversification from ETFs. For example, you have uranium. That's a huge topic right now.

And there are a few ETFs that help you track it and help you invest in it, in stocks trading in it even if you can't directly buy futures in the uranium market because that'd be difficult for the investor to do.

I am definitely a contrarian investor. I look at markets from a contrarian view. So earlier this year, when everybody was saying that Google's (GOOG) (GOOGL) dead, no one's using it anymore, it's the era of looking up things on ChatGPTnow.

We had some interns in our office, and they kept calling it. I'll ask Chad, and I I'm thought I misheard. I was like, did you say Chad? Who's Chad? And they said, no. That's Chat. That's apparently, they have a cute nickname for it and whatnot. So, you know, you can tell the younger generation's really excited about ChatGPT and whatnot.

But I was curious. So I basically started to look up the same thing on Google and also ChatGPT to try to figure out, is there any benefit to going on this instead of a search engine to going to ChatGPT?

And, honestly, I couldn't find all that many differences so far. Maybe the things that we're looking up were too simple, but a lot of the important context clues were missing, in ChatGPT searches.

So I was of the opinion that Google's gonna keep making it. Google's not gonna disappear and fade away because of this worry that ChatGPT's gonna take over search engines.

And for me, that ended up being an important thing because just a few months after that, we saw Google indeed recover, albeit it was not because of its place in the search engine wars, but more so because of antitrust regulations seem to not be affecting it at this moment.

So I think that, for me, that ended up being more of a contrarian trade because so many people were so negative about Google, but I was able to look through the noise and say that, well, I can't really imagine a world without Google. I'm not sure you can either, but I think you're just being influenced by group think at this moment.

RS: So what are the things that you're looking at? I hear from that answer that a lot of it is, or not a lot of it, but in this case, it was narrative driven and a bit of intuitive sense. What else are the things that you're thinking about or implementing when you're looking at the market?

Also, I'm curious how much do you pay attention - is it equal measure, let's say, earning season and economic data? And how many things are you putting into the mix as you're as you're thinking about things and assessing them?

HS: I try to do just about all of them as somebody who tries to have a macro view, 30,000 feet view, I say. I try to look at almost all of them, but I think, one of the most important things right now is buying the dip and how it keeps paying off this year and how it's spoiling this whole new generation of investors right now.

I think there used to be a time where you would wait a much longer duration, and you wouldn't get as much reward for buying the dip.

But I think that's completely changed right now, and I think that's gonna help keep powering this market to new highs.

Just as a stat, after each one day drop of 2% or more, the S&P 500 has gained over the following week more than 85% of the time.

It posted an average rally of 2. 6% over that duration. But then if you go back to 1950, the S&P 500 usually advances over the following week about 58% of the time with an average gain of 0.6%. So this new generation is waiting less and reaping more rewards from buying the debt compared to the older ones.

And I think that any meaningful declines that we see will be shallow because, you know, more investors will be enticed to jump in. I think, especially this week, that's what we've been seeing. Friday, markets fell. Then Monday, we saw some investors come in, Tuesday to Wednesday as well.

Thursday, there were separate issues regarding regional banks. But I think overall, buy the dip has just completely changed the way markets operate from here on out.

RS: And what would you say about the economic data coming out that many people are categorizing it as being, a bit depressed if you're looking at the economic data. Others are pointing to optimistic notes.

What would you say about the data that you're seeing coming out? What would you say about the labor market and the number of rate cuts that probably are coming down the pike from the Fed. What would you say about that in context for investors?

HS: It's been so difficult with the economic data recently because you're right.

You can have this really optimistic view if you really focus on one data point within this release, or you can have this really pessimistic view depending on what you're looking at.

And, truly, it's just been very puzzling to me.

If you just look at the job market, it's not looking good for young people at all. Young people can't find jobs. You hear from people who've just graduated college. It's nearly impossible. And it's not just that it's hard, it's also hard for people who studied really difficult things in school. You have computer science. Those people can't find jobs.

And then on the other hand, there's this flip in the narrative that parents are encouraging their children to study liberal arts because they need people who can have original thoughts, have critical thinking skills.

It's just completely lopsided at this moment. And I think that with the shutdown, the fact that we didn't get a nonfarm payrolls report, I didn't like that, personally.

We didn't get CPI this week either. We may get it next week, but the Fed might have said that, yes, we're likely going to get great cuts at the October.

But I think it's still better for investors to have those datasets so we can look through it and say, okay.

Maybe the economy is in a more precarious position than we have thought. Maybe we need a greater rate cut or say that, no, 25 basis points is right because economic data doesn't look too concerning.

But for me, I think the lack of that has also contributed to investors being on the edge of their seats so much right now because we don't have that confidence.

And we'd really need that confidence because we love to know what's going on with ADP. We love to know what's going on with other datasets, but we don't really have that because of the shutdown.

And something that I was surprised to learn was also that so many of these private data reports are also benchmarked to the BLS datasets or they get their data from the BLS.

So I was surprised that even they couldn't put out their reports during this time. So it's like, my gosh. What do I have? Some weird report from some random place I've never heard of before?

This isn't really giving me confidence that the economy is in a good place right now. But until we see evidence to the otherwise, I think that, yeah, the Fed can confidently cut rates 25 basis points.

We need it. And I think that that's gonna help keep powering the market to new highs.

RS: Do you have any takes about data being released if the shutdown is prolonged, or have you heard any good takes?

HS: I think, honestly, I haven't heard any good takes, and I think that's the most surprising thing for me because I don't think investors are caring at this moment that we don't have these really important reports that previously our whole monthly schedule was tied around to.

I would wake up early to watch the jobs report or CPI. And I think the fact that nobody cares about that at this moment is a little concerning.

RS: The lack of concern is concerning.

HS: Yes. It's the complacency. It's Yeah. We're good. And, in the office itself, we've been having lots of conversation about what it's been like to go through an airport at this moment.

I went to personally the Social Security office last week, and everything's been fine. I haven't had any delays. I didn't wait in line too long.

I didn't have to go through a random inspection or anything. None of that has happened. So, personally, in real life, we haven't been able to see the impact of shutdown, and I think investors have been surprised by that.

And that's why I think it's not a really big concern for them that we don't have these really, really important reports at this moment.

RS: What from an economic perspective, do you have any sense of how long this might last or how long we could do without data? And then when we do get it, is it gonna be from the time that we miss? Do you have any idea of how that works?

HS: I think that if we go another month without data points being released, and the data points do get released after, say, that one month, and they're not good, the market would be in for a reckoning.

And I'm not saying that it would be long lasting. It's entirely possible that it ends up being short term. But I think that the market will have to adjust to price that in. Efficient markets.

They'd have to adjust to price that in, and then we can start moving higher again once we once the Fed steps in. It's like, okay. Don't worry about this. We're gonna give you guys rate cuts. Everything's gonna be fine.

Don't worry about it. But I think that if this economic data, this whole time has been brewing under the surface and it's not good, and we find that out many, many weeks from now, it's not gonna be pretty for the stock market at first.

I think there would be some there would be a correction probably. And then after that, we could recover. But until we know that for sure, it's hard for me

RS: Anything to say with gold hitting record highs, anything to say about those themes, sectors, points of the market?

HS: I do, actually. I've been surprised by gold's recent rally. I used to be a gold reporter at the Wall Street Journal. And when I used to write about it my editor and I would say that if it's above 1 or 2%, we can easily do a story about it.

And it seems like these days, that's almost an everyday move, which is just so bizarre to me. I think that a lot of people are jumping in, especially retail investors right now, are jumping in because they're like, oh my gosh. Look at gold. I should be diversified. I'm way too heavy in tech.

And then I'm seeing this stat being floated around that since the turn of the millennium, gold has rallied way more than the S&P 500. And I think that's not a full picture of gold.

If you look over an even longer duration, gold has actually not kept up with equities. And this whole argument that gold is helping outperform equities is not right.

You have to look at a longer duration than just twenty five years because guess what? Most of us are investing for longer than twenty five years. And I think that when people don't talk about that, I'm like, no.

You're missing half the picture. The whole joke that share price performance can be whatever you want it to be if you pick your time period correctly? I think it just it goes into that. You have to look at it from a longer term perspective.

And I think that if you just look at its rally from 2000, you're gonna miss the bigger picture here. And it's that stocks are always going to outperform just about everything.

RS: As we're talking about the markets and you mentioned tariffs at the beginning, what would you say geopolitically, internationally speaking? How are you seeing things in terms of China and tech and Trump getting into some tech names or the government getting into some tech names? What would you say about all of that or or anything to add to that conversation?

HS: I've been surprised how Intel (INTC) keeps getting propped up by the government and by basically everybody else because it is such a hallmark of the American semiconductor industry.

For me, personally, I think that if you're an investor and you're trying to think about buying some of these stocks, and if you're buying solely for the basis of the government investing into it, you're a speculative investor.

And, sure, you might be joining the short term gains, but these are multiyear cycles. And it's not even clear if the government investment or the government buying a stake in it will actually lead to payoffs.

It's not clear yet. So if you're going to be investing in it, you need to be sure that you know where your time period is because, otherwise, you could be caught off guard.

RS: Any specific market ETFs to highlight for investors to be looking at right now? Anything that you would throw out there?

HS: I have been surprised by (URA). It's the Global X uranium ETF, and this year, it's up almost 100%.

I think that it's really hard to be invested in some of these nuclear and uranium stocks right now because they're such complex companies, and you can't really go out and buy futures of uranium, like I said.

But I think this is a really good play on all the all the stocks and the main players in it. And, if you do want exposure to some of these power generators, this would be this would be a good play.

RS: I'm curious your thoughts about the Fed's last meeting, what you would say about the composition of the Fed, if you would say anything about that, what you might say about coming rate cuts or not coming rate cuts, anything to add about the Fed and what we might see coming from them?

HS: For sure. That was Stephen Miran's first Fed meeting. And he has been doing a lot of media appearances recently, just like me. Yes, it can be concerning that he hasn't really stepped away from his other role in the White House at this moment.

That's a very unique circumstance. But at the end of the day, he is just one Fed governor. The Fed body is so much bigger than that. And even though he could be I'm saying could be very a lot of stress on that. He could be hall of fame champion, President Trump's view of where the economy should be going.

He's still coming from an economist's perspective. I think that I remember after the rate cut happened, he talked a lot about the Taylor rule that he was looking at to figure out where rates should be going.

And I think that was a big sign of relief for me because I wasn't like, oh, thank god. He's not just coming and saying, cut them all, cut all the rates.

Let's go back to 0% error. He wasn't saying any of that. He was actually coming from a very informed perspective. And I think it's good to have that diversity of thought in the Fed because you want to have that. You want to hear different perspectives. And as long as they're informed perspectives, I think that's fine.

RS: Anything else that you feel like is important for investors to keep in mind right now?

HS: Oh, yes. I do have one point, actually, about earnings expansion right now. So I put together this chart, and I've been surprised that earnings haven't supported new highs in the stock market at this level since January.

That's very bullish for the stock market because these new highs, they're not just coming willy nilly speculative. They're not. They're actually being backed up by earnings growing, and I think that's a really good sign.

In the third quarter, earnings are expected to grow 8% from a year ago. And based on just how much improvement we see over the course of a quarter, the estimates are actually for 13%.

That'd be the fourth straight quarter of double digit growth. That's incredibly good given that we have all these horrible things happening to corporations right now.

They have to pay tariffs now. They have to deal with an uncertain consumer. They're spending bunch of money to build out these data centers. I think this is great.

I think earnings growing is a really good thing, especially as we keep seeing highs in the stock market. So I think that we're still in this relentless bull market, and I think we're just gonna keep going higher and higher.

That is unless economic data says that job growth was a negative bajillion. In that case, it's over. I'm joking. I'm joking.

RS: Negative bajillion is very concerning. You heard it here first. Let me ask you this. In terms of just as we're closing out the conversation, I'm curious if you have any special insights or anything to share with our audience about how to properly value stocks these days.

Is there anything that you're keeping in mind as there's a pretty prevalent difficulty in being able to properly value stocks. Anything to to say to that?

HS: The best tip I have for that is that if you like something and you've been watching a stock for a while now and it goes down, don't let that deter you from actually pulling the trigger and buying it.

And I know so many people see a stock go down, and number one, they're either hesitant to get in then because they're like, oh, it went down. I must have been wrong with my investment thesis. And now I've missed the boat. I don't wanna buy it.

Or number two, what I see a lot of people do is that a stock goes down and then they get greedy. They're saying that I'm gonna wait for this to go down a little bit more so I can buy it.

Don't do that. If it's down enough to a comfortable level that you think that you can recoup it and go bigger, you should just buy it. Don't wait for it to fall more so you can win bigger.

You have to think long term, especially with younger retail investors. Many of us who entered the market after COVID 19, you can't think about this from the perspective of two years.

You have to go maybe five years, maybe ten years. This is a multiyear secular bull cycle. We have to we have to think about it through that lens.

RS: Hardika, I really appreciate you coming on. Looking forward to keeping these conversations flowing and going. Again, you're from Fundstrat, economic strategist at Fundstrat. Where can investors get in touch with you? Where can they see more of your work? Happy for you to share that.

HS: I'd love to hear from you. Reach out to me at hardikainvest@fundstrat. com. I'm also on LinkedIn and recently, TikTok. So please come follow me.

Think about Bitcoin's long-term potential before you buy the dip.

The initial October optimism that pushed Bitcoin (BTC 1.37%) to a new high has quickly faded. On Friday, Oct. 17, Bitcoin slipped below the $105,000 mark -- a 17% drop on its Oct. 6 peak of over $126,000. Prices moved slightly higher over the weekend, but uncertainty rules as investors try to make sense of credit concerns and the largest liquidation event in crypto history.

An unexpected China tariff threat on Oct. 10 jolted markets and triggered a cascade of liquidations. CoinGlass data shows that over $19 billion in leveraged positions was wiped out in what's being called "Crypto's Black Friday." The flash crash, and concerns about private credit quality, are driving a wider risk-off sentiment.

For investors, this raises the question of whether it is a good time to buy. That depends a lot on your investment thesis.

Image source: Getty Images.

Is it time to buy Bitcoin?
When cryptocurrency prices fall, there's often a rallying social media cry to "buy the dip." It sounds great in theory, but it isn't always that simple in practice. For starters, it is almost impossible to know how far Bitcoin might fall so you can call the bottom. There's also no point in trying to buy the dip if you don't think Bitcoin has long-term potential.

In terms of the dip itself, it's worth noting that Bitcoin's price is still up about 60% year over year, and that cryptocurrency investors are used to dramatic price swings. That doesn't stop these big drops from being unnerving. Even so, there's solace to be taken from the fact that Bitcoin has always erased its losses and gone on to set new highs.

While there are no guarantees, Bitcoin could have long-term potential, and various institutions like ARK Invest are optimistic about its future. ARK's most bullish price target for the lead crypto is $1.5 million, based on its potential as an emerging market currency, an institutional asset class, and even as "digital gold." In its latest report, ARK points out that Bitcoin balances in corporate treasuries increased by 40% in 2025, and that spot Bitcoin ETF balances have reached new highs.

Bitcoin's digital gold credentials are questionable
One notable driver behind Bitcoin's growth in 2025 is that it appears to be maturing as an asset. The influx of institutional funds not only buoyed the price, but it also reduced volatility. That gave more credence to the argument that Bitcoin could act as a form of digital gold -- a store of value that may hold its worth over a long period.

Any hedge against uncertainty has a lot of appeal today, as people look to protect their investments against inflation and a softening dollar. It's true that Bitcoin and gold have a lot in common. For example, only a fixed amount of Bitcoin can ever be mined. Bitcoin is decentralized and can't be controlled by individual governments. The blockchain is durable and, like gold, should stand the test of time.

However, Bitcoin has yet to fully prove itself as a safe-haven asset. Take October: Gold has continued to trend upwards and reach new highs, while Bitcoin erased many of its gains from the past three months. It isn't the first time that Bitcoin has behaved more like a tech stock than a form of modern-day gold. For example, in 2022, when the Federal Reserve introduced dramatic interest rate hikes to combat inflation, Bitcoin's price tanked alongside other high-risk investments.

Bitcoin is still a relatively new asset, and it may still develop as a form of digital gold. It may also have other potential use cases that push it upwards, particularly with a pro-crypto administration in power in the U.S. However, recent weeks have shown us that it is not there yet.

Don't buy Bitcoin just because the price has dropped
If you've been watching Bitcoin's price soar this year and wondering when might be a good time to get in, the recent drop may make it more attractive. But what counts is your long-term rationale for investing in Bitcoin. This especially matters if you're looking for a safe-haven asset. In that case, Bitcoin may not be the best choice, even at a lower price. The digital gold narrative is questionable and may not hold up under pressure.

There's also the challenge of knowing how far Bitcoin might fall. Bear in mind that it dropped almost 75% in the year that followed its Nov. 11, 2021 peak. Dollar-cost averaging -- buying smaller amounts at regular intervals -- can help to manage this type of volatility.

However, if you think it has potential in other ways -- whether that's institutional and corporate accumulation, government treasuries, or through emerging market currencies -- today may be a good time to buy. Bitcoin is maturing and regulatory changes are clearing the path for increased mainstream adoption. Bitcoin ETFs make it more accessible and take out a lot of the headaches over custody.

We've seen Bitcoin eventually recover from extreme price dips, and there's a good chance it will soar once again. What matters is to be clear about your investment rationale, and make sure that Bitcoin is a small part of a wider risk-adjusted portfolio.

Emma Newbery has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Bitcoin. The Motley Fool has a disclosure policy.

Strategists warn a deeper pullback toward $1.55 remains plausible before a structural recovery attempt toward the $7–$27 corridor.Updated Oct 19, 2025, 1:42 p.m. Published Oct 19, 2025, 1:42 p.m.

(CoinDesk Data)

What to know: XRP stabilizes above short-term support after a volatile period, with strategists cautioning a potential pullback to $1.55 before a recovery.The token consolidated between $2.34 and $2.39 following a sharp rally, with market sentiment remaining cautious amid significant cross-crypto liquidations.Traders are closely monitoring ETF headlines and macroeconomic developments as potential triggers for future volatility.XRP trades narrowly after a volatile stretch, holding above short-term support as market participants weigh renewed risk exposure. Strategists warn a deeper pullback toward $1.55 remains plausible before a structural recovery attempt toward the $7–$27 corridor.

News BackgroundThe token steadied through Thursday’s Asia–U.S. crossover, consolidating between $2.34–$2.39 after a sharp rally earlier in the week. The midday surge to $2.39 on October 18 drew 42.23 million in volume — nearly double the 24-hour mean — before fading into a tight band near $2.35.Market sentiment remains cautious amid $19 billion in cross-crypto liquidations triggered by escalating trade tensions.Ripple’s proposed $1 billion capital raise and the SEC’s ongoing review of six spot XRP ETF filings continue to shape positioning. Institutional desks report lighter leverage exposure and rotation into cash collateral as traders prepare for policy headlines and macro catalysts.Price Action SummaryXRP moved in a compact 2% range across the October 18–19 session, carving a floor near $2.34. Bulls briefly retested the $2.39 ceiling before sellers reloaded. Volume thinned through the back half of the day — a classic pre-break compression.The final hour (07:10–08:09 UTC) saw XRP rebound from $2.34 to $2.35 on 590K in turnover, suggesting the earlier fade may have been a false break rather than a clean trend reversal.Technical AnalysisPrice structure remains neutral-to-bullish while XRP trades above $2.34 support. Intraday action shows an accumulation pocket forming within the $2.34–$2.35 band, with clear resistance anchored near $2.39.Momentum models show declining volatility and RSI resetting after prior overextension. A decisive break above $2.39 reopens $2.47, while failure to hold $2.34 exposes the $2.28–$2.31 cluster. Longer-term technicians flag a potential 40% correction toward $1.55 if broader risk-off sentiment intensifies — a move that could set the stage for the next cyclical advance.What Traders Are WatchingDesks are watching ETF headlines into October 25 as potential volatility triggers. A reclaim of $2.40 with volume confirmation could ignite the next wave toward $2.65. Macro traders remain wary of U.S.–China tariff developments and Fed language around liquidity — both viewed as catalysts for the next impulse move.More For You

Stablecoin payment volumes have grown to $19.4B year-to-date in 2025. OwlTing aims to capture this market by developing payment infrastructure that processes transactions in seconds for fractions of a cent.

View Full Report

More For You

Stablecoins' $1 Peg Is a 'Misconception,' Says NYDIG After $500 Billion Market Meltdown

The recent $500 billion crypto market sell-off revealed the instability of stablecoins, with prices fluctuating even for stablecoins.

What to know:

NYDIG's Global Head of Research, Greg Cipolaro, argues that stablecoins like USDC, USDT, and USDe are not truly pegged to the U.S. dollar, but rather float based on market supply and demand.The recent $500 billion crypto market sell-off revealed the instability of stablecoins, with prices fluctuating and some assets like USDe dropping as low as $0.65 on Binance.Cipolaro suggests that the perceived stability of stablecoins is actually due to arbitrage and market dynamics, and that users often misunderstand the real risks associated with these assets.Read full story

Ethereum (ETH) price has slipped below the crucial $4,000 support level as sellers strengthen their grip on the market. After struggling to hold above $4,020, ETH has been consolidating in a tight range, signaling potential further downside if critical support levels fail to hold.

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

2025 has been quite the year for digital asset treasury (DAT) companies, especially Bitcoin and Ethereum treasury vehicles. These publicly-traded firms, who accumulate digital assets on their balance sheets, offer retail investors who purchase their shares indirect crypto exposure.

However, a recent report found that retail investors have lost around $17 billion by investing in Bitcoin treasury stocks. According to the firm, the hype surrounding BTC treasuries seems to be coming to an end, with retail investors forced to deal with the losses.

Has The Bitcoin Treasury Bubble Burst?
In its market report last week, 10x Research said that the “age of financial magic” is coming to a close for Bitcoin treasury companies. According to the Singapore-based research firm, these treasury companies conjured billions in “paper wealth” by issuing overvalued shares to investors.

According to the analytics firm, it made sense for the treasury firms to offer their shares at a premium as the price of Bitcoin continued to increase. 10x Research noted that the once-celebrated premiums to net asset value (NAV) was an illusion that has left investors with losses while “executives walked away with the gold.”

10x Research mentioned that investors who purchased the overvalued stocks during the Bitcoin treasury boom have collectively lost about $17 billion. According to the research firm, the declining volatility and profits is forcing the treasury companies to make a hard pivot from marketing-driven momentum to real market discipline.

Source: 10x Research
10x Research added:

The next act won’t be about magic—it will be about who can still generate alpha when the audience stops believing.

Unsurprisingly, the performance of Bitcoin-linked stocks has been quite disappointing over the past few months. For example, Strategy’s (previously known as MicroStrategy) MSTR stock has declined by over 20% since August.

The Michael Saylor-led firm announced its latest purchase of Bitcoin between October 6 and October 12. The 220 BTC buy—at an average price of $123,561—brought Strategy’s holdings to 640,250 BTC (worth about $47.38 billion).

Bitcoin Price At A Glance
As of this writing, the price of BTC stands at around $106,799, reflecting no significant movement in the past day. Following the market-wide crash on October 10, the premier cryptocurrency has struggled to sustain any positive momentum. According to data from CoinGecko, the value of Bitcoin has dropped by more than 4% in the last seven days.

The price of BTC on the daily timeframe | Source: BTCUSDT chart on TradingView
Featured image from iStock, chart from TradingView

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Opeyemi Sule is a passionate crypto enthusiast, a proficient content writer, and a journalist at Bitcoinist. Opeyemi creates unique pieces unraveling the complexities of blockchain technology and sharing insights on the latest trends in the world of cryptocurrencies. Opeyemi enjoys reading poetry, chatting about politics, and listening to music, in addition to his strong interest in cryptocurrency.

Coinbase Institutional and Glassnode's new Charting Crypto report finds investors heading into Q4 with cautious optimism, anchored by supportive liquidity, regulatory momentum, and a macro backdrop that could favor bitcoin and ether.

1 hour ago

Bitcoin price volatility returned into the weekly close with a key reclaim zone in sight, while liquidations exceeded $200 million in 24 hours.

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Key points:

Bitcoin can keep the bull market range in play if it reclaims $108,400 in the coming hours, says analysis.

Volatility increases into the weekly close as thin order books see $200 million in 24-hour liquidations.

Altcoin futures show just how traders have lost out since the last bear market bottom.

Bitcoin (BTC) teased volatility into Sunday’s weekly close as price approached a key reclaim level.

BTC/USD one-hour chart. Source: Cointelegraph/TradingView
Trader sees more BTC price volatility to comeData from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting $108,260 local highs.

After a painful end to the TradFi trading week that saw Bitcoin dip below the $104,000 mark, sell-side pressure appeared to cool ahead of what X trader Daan Crypto Trades called an “interesting week.”

“Volatility definitely high here due to the thin books post this massive market flush,” he wrote.

Looking at liquidation data, Daan Crypto Trades predicted that volatility would continue “for a while.”

“Books are thin. Especially after the massive liquidation event last week,” he added. 

“This combined with weekend price action and a lot of emotional traders makes for relatively volatile moves on low timeframes.”Bitcoin liquidation heatmap. Source: CoinGlass
The latest figures from monitoring resource CoinGlass put total crypto liquidations for the 24 hours to the time of writing at more than $200 million.

Both bid and ask liquidity thickened around price on exchange order books hours before the weekly close.

“Bitcoin is not far away from securing a positive Weekly Close above $108381 to preserve the historical Weekly demand area (orange), despite the downside wicks below it,” trader and analyst Rekt Capital said while uploading the weekly chart to X.

BTC/USD one-week chart. Source: Rekt Capital/XAltcoin futures explain grim crypto sentimentThe relief from further downside was enough to lift crypto market sentiment out of the “extreme fear” zone, per data from the Crypto Fear & Greed Index.

The Index measured 29/100 Sunday, up seven points from six-month lows seen days before.

Crypto Fear & Greed Index (screenshot). Source: Alternative.me
Commenting, crypto trader and analyst Luke Martin, host of the STACKS podcast, flagged altcoins as a major drag on the overall market mood.

In an X post Saturday, Martin uploaded a chart showing the performance of Binance’s top 50 altcoin futures. The chart was created by Chris Jack, chief growth officer of algorithmic crypto trading company Robuxio.

“This chart perfectly illustrates why sentiment is bearish/tired even though $BTC still above $100k,” he argued.

“A basket of the top 50 altcoins now trading BELOW where they were post-FTX crash in 2022.”Binance futures top 50 altcoins aggregate performance. Source: Luke Martin/XMartin referred to the implosion of crypto exchange FTX, which infamously sparked a major market drawdown and prepared crypto for its bear market bottom at the end of 2022.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

The XRP price has plunged by over 35% from its highest point this year, and an emerging death cross pattern suggests further downside despite some notable bullish catalysts. 

Summary

XRP price has formed a death cross pattern on the daily chart.
This pattern points to more downside in the near term.
Still, Ripple has numerous bullish catalysts that may offset the drop.

XRP price technical analysis
The daily chart shows that the Ripple (XRP) token was trading at $2.3700 today, Oct. 19, up by 33% from its lowest point this month. This price coincides with the ultimate support of the Murrey Math Lines tool. 

Worse, the token has formed a death cross pattern, which could lead to more downside. This cross happens when the 50-day and 200-day Weighted Moving Averages cross each other when pointing downwards. It is one of the most bearish patterns in technical analysis. 

The XRP price remains below the key resistance level at $2.70, which marks the lower side of the descending triangle pattern. This is another highly popular bearish signs.

Ripple price has invalidated the impulse phase of the Elliot Wave pattern. Therefore, there is a risk that the coin will continue falling as sellers target the key psychological point at $2. 

XRP price chart | Source: crypto.news
Ripple has numerous bullish catalysts 
The bearish XRP price forecast is based on its technicals, as the coin has numerous bullish fundamentals. One of the fundamentals is the rumor that Ripple Labs was considering launching a $1 billion fund to accumulate XRP. 

Such a move would lead to more demand for the coin. Other companies like SBI Holdings, Trident Digital, Amber Power, VivoPower, and Webus have announced XRP treasuries. 

XRP will also benefit with the approval of spot XRP ETFs by the Securities and Exchange Commission, which will likely happen after the government shutdown ends. 

The existing XRP ETFs, including the recently launched REX-Osprey XRP ETF, have all seen substantial inflows. The XRPR ETF has accumulated over $88 million in inflows, while the XXRP fund has over $294 million in assets.

The XRP price will also benefit from Ripple Labs’ recent acquisitions. It recently bought GTreasury, a company that helps firms move money globally in a $1 billion. This marked its entry into the corporate treasury industry.

I'm excited for Ripple and GTreasury to help corporates move money around the world faster, cheaper, 24/7/365, and actively manage and grow their money through safe, more efficient solutions. It's the Ripple platform put to work at the global corporate scale. The opportunity to… https://t.co/eIDycyBRPj

— Monica Long (@MonicaLongSF) October 16, 2025

Ripple Labs acquired Rail in a $200 million deal as well as Hidden Road in a $1.25 billion deal. These acquisitions will help to create value for the XRP Ledger network. They will also help in the integration of the Ripple USD (RLUSD), its stablecoin.

Bitcoin (BTC) is currently testing critical support near $111,000 after failing to extend its recent all-time highs above $126,000. The world's largest cryptocurrency has shed nearly 9% on weekly charts, reflecting fading momentum amid broader market uncertainty, including renewed U.S.–China trade tensions.

Dogecoin (DOGE) may be preparing for a major rebound after weeks of sideways movement, according to crypto analyst Ali Martinez.

This outlook comes as the meme cryptocurrency shows signs of short-term strength. As of press time, DOGE was valued at $0.19, gaining over 5% in the past 24 hours, while on the weekly time frame, it is up 4%.

DOGE seven-day price chart. Source: Finbold
In an X post on October 18, Martinez noted that DOGE is trading within an ascending parallel channel that stretches back to early 2023. Dogecoin is currently hovering near the lower boundary of this channel, a region that has historically acted as a reliable launch pad for rallies.

DOGE price analysis chart. Source: TradingView
At the same time, the token is defending a key support area around $0.16, near the 0.618 Fibonacci retracement level. As long as this zone holds, bullish momentum could begin to build. The next immediate price barrier is $0.21, which must be breached for DOGE to confirm a recovery.

If upward momentum strengthens, the first major resistance lies at $0.29, a level where the price previously faced strong rejection and which aligns with the mid-range trendline of the channel. 

A successful breakout above that level could propel DOGE toward $0.45 in the medium term. Under a strong bullish scenario, Martinez suggested Dogecoin could even reach $0.86 by 2026 if it follows the upper trajectory of the channel.

Dogecoin looking at $1 
Meanwhile, the possibility of Dogecoin breaking out was also highlighted by prominent crypto analyst The Scalping Pro, who in an X post on October 19 pointed out that the token is showing signs of a bullish setup that could push it toward $1 sooner than expected.

His outlook noted a steady uptrend forming since early 2024, with price consolidating around $0.19 and maintaining higher lows within an ascending channel.

A projected rebound from current levels suggests a move through $0.40 and a potential breakout toward the upper resistance near $1.17 by 2026. 

If the trend holds, Dogecoin’s structure points to renewed momentum and investor confidence. A sustained move above key resistance could confirm the start of a major rally.

Featured image via Shutterstock

Japan is keen on establishing a framework to allow banks to buy and sell cryptocurrencies, including Bitcoin.

Summary

Japan’s FSA may let banks buy and hold Bitcoin and other cryptocurrencies.
New framework would impose strict risk rules on bank crypto holdings.
Banks could register as exchanges, expanding retail investor access.

The country’s Financial Services Agency is beginning deliberations on system changes that would allow banks to acquire and hold cryptocurrencies in the same manner as stocks and government bonds.

As per local reports, the matter will be discussed at an upcoming working group meeting of the Financial Services Council, an advisory body to the Prime Minister.

The FSA is expected to impose regulations accounting for the impact on banks’ financial stability, with discussions focusing on establishing risk management systems for cryptocurrency holdings.

Current restrictions show price volatility concerns
The FSA’s supervisory guidelines, revised in 2020, effectively prohibit bank groups from acquiring crypto assets for investment purposes.

The guidelines mentioned that holding large cryptocurrency amounts could result in losses during sudden price drops, potentially worsening a bank’s financial position.

Even if the acquisition and holding receive approval, the FSA is expected to impose strict regulations, considering the impact on banks’ financial status.

The working group will likely discuss establishing comprehensive risk management frameworks specific to cryptocurrency volatility and market dynamics.

Japan’s early embrace of cryptocurrency regulation provides a foundation for these more advanced policy discussions.

Exchange registration and retail access expansion
The FSA is considering allowing bank groups to register as cryptocurrency exchange operators. Permitting highly credible bank groups to participate would create an environment that makes it easier for individual investors to access cryptocurrency markets.

Cryptocurrency trading is expanding across Japan, with accounts exceeding 12 million as of February 2025. This is approximately 3.5 times the number from five years earlier.

Japan became the first major economy to recognize Bitcoin (BTC) as a legal payment method through the 2017 Virtual Currency Act amendments to the Payment Services Act.

The framework required cryptocurrency exchanges to register with the FSA and follow strict security, customer fund protection, and operational transparency rules.

The country’s early cryptocurrency adoption dates to 2010, when Japanese tech enthusiasts actively mined Bitcoin and traded on early exchanges.

Stablecoin update
Meanwhile, three of Japan’s largest banks—Mitsubishi UFJ Financial Group (MUFG), Bank Sumitomo Mitsui Banking Corp. (SMBC), and Mizuho Bank—are collaborating to issue a yen-pegged stablecoin to modernize corporate settlements and lower transaction costs.

The stablecoin will be built on MUFG’s Progmat platform and is expected to be rolled out by the end of the year.

The initiative, according to Nikkei, aims to make the token interoperable for payments within and between companies.

Mitsubishi Corp. will be the first to implement the stablecoin for internal settlements, potentially streamlining international transfers and reducing administrative costs. If successful, the project could launch Japan’s first bank-backed stablecoin network.

Japan is also considering a digital yen through the Bank of Japan’s (BOJ) pilot program, which began in 2023. Since then, the BOJ has been testing a central bank digital currency (CBDC) as part of a broader effort to modernize its economy alongside the evolving digital payments space.

As Japan continues to innovate within the cryptocurrency space, its regulatory framework plays a crucial role in shaping the industry’s growth. While private sector initiatives like the yen-pegged stablecoin project reflect the country’s push toward adoption, individual investors look to Japan’s FSA for answers on whether they’ll have easier access to cryptocurrency markets.

OpenSea, once the face of the NFT boom, is stepping into an entirely new era. CEO Devin Finzer has announced that the platform’s long-awaited SEA token will launch in the first quarter of 2026, marking a major shift from being a simple NFT marketplace to a multi-chain trading hub. Alongside the token rollout, OpenSea plans to integrate perpetual futures trading, expand into mobile, and pour half of its platform revenue into SEA token buybacks—a bold signal that the company is betting big on its onchain future.

The Long-Awaited SEA Token Is Finally ComingOpenSea’s CEO, Devin Finzer, confirmed that the platform’s native SEA token will officially launch in the first quarter of 2026. The announcement, made via X in collaboration with the OpenSea Foundation, marks a new chapter for the NFT marketplace as it evolves into a broader crypto trading platform.

Half of the total SEA token supply will go to the OpenSea community — specifically to OG users and participants in the rewards program. According to Finzer, both groups will be rewarded separately, ensuring long-term community engagement.

Given OpenSea’s mixed history — from centralization concerns and poor user support to allegations of insider trading and arbitrary account bans — delivering on its new promises is critical. The SEA token launch and platform overhaul can’t just be another headline; it must prove that OpenSea has learned from past missteps. This is its chance to rebuild credibility, restore trust, and show the community it can actually evolve — not just rebrand.

50% of Revenue Set for Token BuybacksIn an interesting twist, OpenSea plans to allocate 50% of its platform revenue to token buybacks “at launch.” This move suggests a strong focus on creating immediate market demand and price support for SEA.

The company has not yet revealed the total token supply or specific details about how individual allocations will be calculated. However, users will reportedly be able to stake their SEA tokens to back specific collections and favorite projects, adding a social and community-driven layer to the token economy.

From NFT Marketplace to Multi-Chain Trading PlatformOpenSea is no longer just an NFT trading site. The company is repositioning itself as a multi-chain crypto trading aggregator — a one-stop platform for everything from tokens and art to perpetual futures contracts.

This evolution comes during a resurgence in trading activity. October 2025 marked OpenSea’s best month in three years, with $1.6 billion in crypto trading volume and $230 million in NFT trades. Despite the overall market slowdown from 2021’s highs, OpenSea still commands around two-thirds of Ethereum’s NFT market.

Futures, Mobile App, and a Broader Onchain VisionThe upcoming token launch aligns with a series of new features. OpenSea plans to roll out perpetual futures trading — a feature that mirrors the growing popularity of “perps” on decentralized exchanges like Hyperliquid and Aster.

Meanwhile, its mobile app is currently in closed alpha testing, with a public release expected before the SEA token generation event. This signals OpenSea’s intent to capture a wider audience by integrating mobile-first and onchain-native experiences.

“Trade Everything”: Finzer’s Vision for the FutureDevin Finzer summed up the company’s ambition clearly: OpenSea aims to become “the destination for the onchain economy in its entirety.”

His vision? A platform where users can “trade everything — tokens, culture, art, ideas, the digital and the physical — all in one place that feels like a home, not a bank.”

If OpenSea delivers on that promise, its SEA token launch could mark not just a new phase for the company, but a redefining moment for how NFTs and crypto markets converge.

If OpenSea wants this transformation to stick, execution will matter more than ambition. The crypto community has a long memory, and many still recall the frustrations of sudden account freezes, high fees, and vague policies. The SEA token, buyback plan, and multi-chain expansion all sound promising — but real success will depend on how OpenSea delivers transparency, fairness, and reliability this time around. Only then can it reclaim its place as a trusted leader in the onchain economy.

Most income investors are used to waiting. They buy a dividend stock, mark the calendar, and collect a check every three months.

SummaryMatch Group is rated a buy due to strong cash flows, attractive valuation, and ongoing turnaround initiatives.MTCH's flagship app, Tinder, faces challenges, but Hinge's growth and Tinder's revitalization efforts aim to recapture Gen Z users and drive long-term recovery.The company boasts a nearly 10% buyback yield and even a fresh dividend, enhancing shareholder returns amid industry growth expectations.Risks include intense competition and potential failed turnaround, but long-term prospects and recent regulatory outcomes support a positive long-term outlook. Jonathan Kitchen/DigitalVision via Getty Images

Introduction & Financials Match Group (NASDAQ:MTCH) has the largest global portfolio of online dating services, with giant names such as Tinder and Hinge, as well as many niche-focused apps and websites. Right now, the stock is trading

Analyst’s Disclosure:I/we have a beneficial long position in the shares of MTCH either through stock ownership, options, or other derivatives. 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.

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SummaryiShares International Dividend Growth ETF is rated a hold due to portfolio flaws and the availability of superior alternatives like LVHI.IGRO's backward-looking dividend growth strategy lacks quality screens, resulting in higher volatility, sector/geographic concentration, and underperformance versus LVHI.LVHI outperforms IGRO on risk-adjusted returns, yield, and liquidity, making it a more compelling choice for global ex-US dividend exposure.IGRO's current positioning is not well-suited for the tense macro environment; better options exist for resilient income and risk mitigation. ismagilov/iStock via Getty Images

In the field of international (excluding the United States) equity exposure, for many investors based in the U.S., as this is mainly a way to get diversification against a portfolio relying too much on the U.S., defensive dividend strategies are

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.

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Analyst’s Disclosure:I/we have a beneficial long position in the shares of FDUS, TRIN, KBDC, MSDL either through stock ownership, options, or other derivatives. 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.

There's a lot to like about this energy stock.

In 1949, Interprovincial Pipe Line (IPL) Company began building the first pipeline for exporting oil from Canada to the U.S. Seventy-six years later, that company's pipelines transport around 65% of Canadian oil destined for the U.S. and 30% of crude oil produced in all of North America.

Never heard of IPL? That's understandable. The company changed its name to Enbridge (ENB -0.32%) in 1998.

I didn't know Enbridge's full history when I first initiated a position in its stock a few years ago. However, the more I learn about the company, the more I like it. Here are three reasons why I keep buying more Enbridge shares.

Image source: Getty Images.

1. I like the dividend
The thing I immediately think of when Enbridge's name comes up is the company's dividend. Simply put, I like everything about the dividend.

For one thing, Enbridge's forward dividend yield stands at 5.8%. That's a juicy yield that should grab the attention of any income investor. Even investors who aren't seeking income may be impressed by the fact that an initial investment of $10,000 in Enbridge at its initial public offering (IPO) in 1994 would now be worth nearly $184,000 -- thanks largely to reinvesting dividends.

I'm also impressed by Enbridge's dividend track record. The company has increased its dividend for 30 consecutive years. That's a streak I don't expect to end anytime soon, with Enbridge's continued free-cash-flow growth and its distributable cash-flow payout of between 60% and 70%.

2. Enbridge's business is steady and resilient
Maybe I'm just being paranoid, but I have a feeling the stock market is poised for a major downturn. Valuations are at historical highs. The full impact of tariffs probably still hasn't been felt by the economy. Inflation is still weighing on consumers.

While I invest for the long term and have always resisted the urge to sell in panic when the stock market tanks, I'm highly selective about which stocks I buy with the current dynamics. Enbridge's steady and resilient business makes it easier for me to buy more shares.

The Trump administration has exempted Canadian oil and gas imports from tariffs, so that's not an issue for Enbridge. Around 80% of the company's earnings before interest, taxes, depreciation, and amortization (EBITDA) is protected from inflation. Enbridge has minimal exposure to commodity prices.

The company's acquisitions in recent years have made its cash flows even more reliable. Enbridge is now the largest natural gas utility in North America based on volume. The bottom line is that the underlying business behind this stock is both predictable and safe.

3. The company's growth prospects are solid
A dividend stock that can be described as steady and resilient usually doesn't deliver sizzling growth. I don't expect Enbridge to be another Nvidia. However, the company's growth prospects are solid. And the same artificial intelligence (AI) tailwind at Nvidia's back should also help Enbridge.

The data centers that host AI applications consume massive amounts of power. As agentic AI and other new uses of the technology gain widespread adoption, the demand for electricity will almost certainly increase significantly.

Roughly 43% of U.S. electricity was generated by natural gas in 2023, according to the U.S. Energy Information Administration. Another 16% was generated from coal-powered plants. But a major switch from coal to natural gas is underway. This is great news for Enbridge.

The company foresees around $50 billion of growth opportunities through 2030. That's nearly equal to the amount of revenue it made last year. Unsurprisingly, almost half of those growth opportunities ($23 billion) are in Enbridge's gas transmission business.

Again, I don't predict that Enbridge will deliver the kind of growth that will knock the socks off investors. However, I think the stock will produce double-digit percentage total returns over the long run with its attractive dividend included. That's enough reason for me to want to keep buying shares of this amazing dividend stock.

Keith Speights has positions in Enbridge. The Motley Fool has positions in and recommends Enbridge and Nvidia. The Motley Fool has a disclosure policy.

Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Long position through a purchase of the stock, or the purchase of call options or similar derivatives in FIX over 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.

Regulations 33(c)-(d) of the Securities Regulations (Periodic and Immediate Reports), 1970

, /PRNewswire/ -- Max Stock Limited (TASE: MAXO) (the "Company") today announced holdings of interested parties and senior officers as of September 30, 2025:

A. Corporation's interested parties (including the CEO and directors, and including any other employee holding 5% or more of the corporation's issued share capital or voting rights):

Holder no.

Holder's Name

Name, class and series of security

Updated no. of securities

% holdings

% equity      % voting

% holdings (on a fully diluted basis)

% equity % voting

1

Moose Holdco Ltd.

Max Stock Ordinary Share

31,558,386

22.60           22.60

22.43            22.43

2

Ori Max

Max Stock Ordinary Share

24,981,492

17.89           17.89

17.76            17.76

3

Y.D. More Investments Ltd. (mutual funds)

Max Stock Ordinary Share

2,704,195

1.94             1.94

1.92              1.92

4

More Provident Funds and Pension Ltd. (provident funds)

Max Stock Ordinary Share

11,967,728

8.57             8.57

8.51              8.51

5

Max Stock Ltd.

Max Stock Ordinary Share

3,658,971

0.00             0.00

0.00              0.00

6

Migdal Holdings Insurance & Finance Ltd – Profit sharing life insurance policies

Max Stock Ordinary Share

14,574,051

10.44           10.44

10.36            10.36

7

Migdal Holdings Insurance & Finance Ltd. – Mutual funds management companies

Max Stock Ordinary Share

2,891,471

2.07             2.07

2.06              2.06

8

G. Gissin Advocates

Max Stock Ordinary Share

55,022

0.04             0.04

0.04              0.04

% holdings

% equity    % voting

% holdings (on a fully diluted basis)

% equity   % voting

63.55          63.55

63.08                63.08

B. Corporation's senior officers (excluding the CEO and directors, and excluding any other employee holding 5% or more of the corporation's issued share capital or voting rights):

Presented below is a summary table of the holdings of the corporation's senior officers:

Holder no.

Holder's Name

Name, class and series of security

Updated no. of securities

% holdings

% equity      % voting

% holdings (on a fully diluted basis)

% equity % voting

9

Shlomo Cohen

Max Stock Op2020 share options

100,195

0                      0

0.07      0.07

10

Nir Dagan

Max Stock Op2020 share options

28,987

0                      0

0.02      0.02

11

Shahar Kanizo

Max Stock Op2020 share options

23,619

0                      0

0.02      0.02

12

Ofir Edri

Max Stock Op2020 share options

84,326

0                      0

0.06      0.06

% holdings

% equity    % voting

% holdings (on a fully diluted basis)

% equity   % voting

0                      0

0.17          0.17

The summary table below includes an overview of interested party holdings which were subject to a change in the reporting period:

Name

Balance in previous report

(30-Jun-2025)

Change (+/-)

Maximal holding in period (%)

Minimal holding in period (%)

Comments

Y.D. More Investments Ltd.

2,362,904

+341,291

1.97 %

1.39 %

(*) Y.D. More Investments Ltd. ("More Investments") holds more than 5% of Max Stock's share capital through the mutual funds and provident funds managed by More Investments. More Investments is a public company jointly owned by Messrs. Eli Levi, Yosef Levi, Michael Meirov, Dotan Meirov, Binyamin Meirov and Yosef Meirov.

More Provident Funds & Pension Ltd.

12,066,976

-99,248

8.65 %

8.57 %

See above.

Migdal Insurance & Financial Holdings Ltd. – Life insurance accounts participating in profits

9,600,229

+4,973,822

10.44 %

6.88 %

(*) Migdal Insurance & Financial Holdings Ltd. ("Migdal") holds more than 5% of Max Stock's share capital through the mutual funds and provident funds managed by the Migdal corporate group. Migdal is a public company which is ultimately controlled by Mr. Shlomo Eliyahu (45.50%).

Migdal Holdings Insurance & Finance Ltd. – Mutual funds management companies

1,850,609

1,040,862

2.07 %

1.31 %

See above.

Guy Gissin Advocates

44,622

+10,400

Guy Gissin Advocates is jointly owned by one of the Company's directors, Mr. Guy Gissin and his wife Ms. Sigal Gissin Russak.

Shlomo Cohen

102,695

-2,500

Exercise of employee options.

Nir Dagan

48,987

-20,000

Exercise of employee options.

Ofir Edri

94,326

-10,000

Exercise of employee options.

(*) As notified to the Company by the interested party or to the best of the Company's knowledge.

This is an English translation of segments of a Hebrew immediate report that was published on October 19, 2025 (Ref. No. 2025-01-076699) (hereinafter: the "Hebrew Version"). This English version is only for convenience purposes. This is not an official translation and has no binding force. Whilst reasonable care and skill have been exercised in the preparation hereof, no translation can ever perfectly reflect the Hebrew Version. In the event of any discrepancy between the Hebrew Version and this translation, the Hebrew Version shall prevail.

About Max Stock
Max Stock is Israel's leading extreme value retailer, currently present in 64 locations throughout Israel. We offer a broad assortment of quality products for customers' everyday needs at affordable prices, helping customers "Dream Big, Pay Small". For more information, please visit https://ir.maxstock.co.il       

Company Contacts:
Talia Sessler,
Chief Corporate Development and IR Officer
[email protected]

SOURCE Max Stock Limited

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Range Financial Group LLC fully exited its position in Fortinet (FTNT 0.45%), selling 29,944 shares for an estimated $3.2 million, according to an SEC filing dated Oct. 17.

The fund sold its entire position in Fortinet.

The position previously accounted for 1.2% of the fund’s AUM

What happenedAccording to a filing with the Securities and Exchange Commission dated October 17, 2025, Range Financial Group LLC sold its entire stake in Fortinet. The firm liquidated the 29,944 shares it held, with the estimated value of the transaction based on the quarterly average price totaling $3.2 million. The fund now holds no position in Fortinet.

What else to knowThe fund sold out of Fortinet, reducing its exposure from 1.2% of AUM as of June 30, 2025 to zero

Top holdings after the filing:

NYSEMKT: GJAN: $13.9 million (5.0% of AUM) as of Sept. 30

NASDAQ: NVDA: $10 million (3.6% of AUM) as of Sept. 30

NASDAQ: STX: $7.7 million (2.8% of AUM) as of Sept. 30

NYSEMKT: SPLG: $7.2 million (2.6% of AUM) as of Sept. 30

NYSEMKT: PJAN: $7.1 million (2.6% of AUM) as of Sept. 30

Shares of Fortinet closed at $83.44 on Oct. 17, 2025, up 3.2% over the past year but underperforming the S&P 500's total return by 12.4 percentage points

Company overviewMetricValueMarket Capitalization$63.94 billionRevenue (TTM)$6.34 billionNet Income (TTM)$1.94 billionPrice (as of market close 10/17/25)$83.44Company snapshotFortinet, Inc. is a global provider of integrated cybersecurity solutions, offering a broad product portfolio and scalable security infrastructure. The company leverages a mix of proprietary hardware and software to deliver robust network protection and threat mitigation for enterprises of all sizes.

It serves a diverse global customer base across telecommunications, technology, government, financial services, education, retail, manufacturing, and healthcare sectors.

The company generates revenue primarily through hardware and software sales, security subscriptions, technical support, and professional services, leveraging a channel partner distribution model alongside direct sales.

Foolish takeRange Financial sold its entire position after adding shares during the second quarter. During the June 30 through Sept. 30 period, the fund boosted its share ownership from 2.7 million shares to nearly 3.2 million shares.

However, the share sale follows the market's negative reaction following Fortinet's second-quarter earnings release on Aug. 6, sending the share price down nearly 22% the following day.

The company reported a 14% revenue increase to over $1.6 billion, the high end of management's quarterly guidance. The company also reported adjusted diluted earnings per share of $0.64, exceeding its budgeted figure. Management also raised its annual EPS guidance.

Nonetheless, investors focused on Fortinet's announcement that it has completed 40% to 50% of its planned firewall upgrade cycle. The higher-than-expected figure led to concern that many customers have already upgraded, limiting future revenue growth. Several analysts downgraded their ratings following the announcement.

GlossaryAUM (Assets Under Management): The total market value of investments managed by a fund or investment firm.
Liquidated: Sold off an entire investment position, converting it to cash.
Exposure: The proportion of a portfolio invested in a particular asset, sector, or market.
Channel partner distribution model: A sales approach where products are sold through third-party partners rather than directly to customers.
Stake: The amount of ownership or shares held in a company or investment.
Quarterly average price: The average price of a security over a three-month reporting period.
Reportable U.S. equity assets: U.S. stock holdings that must be disclosed in regulatory filings.
TTM: The 12-month period ending with the most recent quarterly report.
Security subscriptions: Ongoing service contracts providing access to cybersecurity updates and support.
Centralized management: A system that allows control and monitoring of multiple devices or services from a single platform.
Endpoint protection: Security solutions designed to protect devices like computers and smartphones from cyber threats.
Threat mitigation: Actions or technologies used to reduce or prevent cybersecurity risks.

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