Market Signal Briefing

This Thanksgiving week will bring some September economic data, as well as earnings from Best Buy, Smucker, Zscaler, and more.

CoreWeave's revenue has been growing like gangbusters, and it's worth considering for your portfolio.

Artificial intelligence (AI) cloud-computing specialist CoreWeave (CRWV +3.29%) stock has been on a tear recently, and I think its future looks bright, too -- because of the expected massive growth in data centers in the coming years. Per a McKinsey report from April, "Our research shows that by 2030, data centers are projected to require $6.7 trillion worldwide to keep pace with the demand for compute power."

This is largely tied to the boom in AI, which requires a lot of processing power.

Today's Change

(

3.29

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2.28

Current Price

$

71.49

Check out CoreWeave's total revenue numbers:

$16 million in 2022.
$229 million in 2023.
$1.9 billion in 2024.
$4.3 billion in the past 12 months (as of mid-November).

That's some crazy growth, and the stock doesn't even seem overvalued, per some measures. Its price-to-cash-flow ratio, for example, was recently 14.4, below the 19.3 figure for its corresponding index. (There isn't much past data for CoreWeave, as it only debuted on the market via an IPO in March 2025.) Its price-to-sales ratio is another matter, recently sitting at a steep 7.1.

Image source: Getty Images.

So what does this intriguing company do? Well, just as Nvidia pivoted from focusing on chips for gaming to chips for AI processing, CoreWeave pivoted from a focus on cryptocurrency mining to a focus on AI, offering a well-regarded cloud platform for artificial intelligence (AI) infrastructure and software.

Here's another way to think about CoreWeave's valuation: Its market cap was recently $37 billion. Imagine that it's 2035. Do you think the company will sport a much higher value? Then perhaps it's attractive at recent levels. Do keep in mind that it's carrying significant debt and posting losses while it builds out data centers, so it's not a riskless investment.

Its future does seem bright, though, as it has inked some multibillion-dollar deals with big companies, such as Meta Platforms. And it's sporting a hefty backlog of orders, valued at more than $55 billion as of the end of its third quarter.

Selena Maranjian has positions in Meta Platforms and Nvidia. The Motley Fool has positions in and recommends Meta Platforms and Nvidia. The Motley Fool has a disclosure policy.

Daniel S. Perotti, Chief Financial Officer of PennyMac Financial Services (PFSI +1.87%), reported the sale of 8,775 shares in multiple open-market transactions on Nov. 17, 2025. Here's the SEC Form 4 filing

Transaction summaryMetricValueShares sold8,775Transaction value~$1.1 millionPost-transaction shares226,439Transaction value based on SEC Form 4 weighted average purchase price ($126.67).

Key questionsWhat proportion of Perotti's direct holdings was sold in this transaction?
This sale represented none of the insider’s direct ownership immediately prior to the transaction.How does this trade size compare to recent selling activity?
The 8,775 shares sold closely match the median for Perotti’s eleven sell-only trades since May 2024, which is also 8,775 shares, indicating continuity in transaction scale.What is the current market context for PennyMac Financial Services?
As of Nov. 17, 2025, the stock was priced at $126.67 at the weighted average transaction price, reflecting a one-year total return of 20.90% leading up to the transaction.How much direct equity does Perotti Daniel Stanley retain post-sale?
Following this transaction, the insider holds 9,964 shares directly, plus 216,475 shares through a family trust as of the transaction date.Company overviewMetricValueRevenue (TTM)$4.19 billionNet income (TTM)$498.74 millionDividend yield1.00%1-year price change20.90%* 1-year price change calculated as of Nov. 17, 2025.

Company snapshotOffers mortgage loan origination, servicing, and investment management services, with revenue primarily from mortgage production and servicing fees.Operates a vertically integrated business model, generating income by originating, acquiring, selling, and servicing residential mortgage loans, as well as managing mortgage-related investment assets.Serves U.S. residential mortgage borrowers, institutional investors, and correspondent lenders seeking mortgage solutions and asset management.PennyMac Financial Services is a leading U.S. mortgage banking and investment management company, operating at scale with over 4,400 employees and a diversified revenue base. The company leverages an integrated platform spanning loan origination, servicing, and asset management to drive efficiency and capture value across the mortgage lifecycle. Its strategy emphasizes operational excellence, risk management, and broad product offerings, positioning it as a key player in the U.S. residential mortgage market.

Foolish takeThere are millions of reasons for insiders to sell shares of the company they work for. Perotti's recent sale of about 3.9% of his overall PennyMac Holdings looks like a common example of insiders supplementing their income. It would be more encouraging to see the company's lead accountant buy shares, but this hardly seems like an attempt to run for the hills.

PennyMac is a top lender in the U.S. that produced newly originated loans that totaled $139 billion at the end of September. The company also services loans that totaled $717 billion at the end of the third quarter. During the third quarter, PennyMac reported pretax income that surged to $236 million from just $93.9 million in the previous year period.

PennyMac's loan origination and servicing business could get a boost from a new platform it adopted in September. PennyMac adopted Vesta's loan origination technology platform. Vesta is a privately held company backed by Andreessen Horowitz and Bain Capital.

GlossaryInsider: A company executive, director, or major shareholder with access to non-public company information.
Open-market transaction: The purchase or sale of securities on a public exchange, not through private or pre-arranged deals.
SEC Form 4: A required filing disclosing insider trades of a company's securities.
Direct ownership: Shares held and controlled directly by an individual, not through trusts or other entities.
Weighted average purchase price: The average price per share, calculated by weighting each purchase by the number of shares bought or sold.
Total return: The investment's price change plus all dividends and distributions, assuming those payouts are reinvested.
Dividend yield: Annual dividend income as a percentage of the current share price.
Vertically integrated: A business model where a company controls multiple stages of its supply chain or production process.
Mortgage loan origination: The process of creating and funding new mortgage loans for borrowers.
Servicing fees: Payments received for managing the day-to-day administration of loans, such as collecting payments and handling customer service.
Correspondent lenders: Financial institutions that originate and fund loans, then sell them to larger lenders or investors.
TTM: The 12-month period ending with the most recent quarterly report.

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

Analyst’s Disclosure:I/we have a beneficial long position in the shares of NVDA, MSFT 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.

The logo of Bayer at the company’s booth at the 8th China International Import Expo (CIIE) in Shanghai, China, November 6, 2025. REUTERS/Maxim Shemetov/File Photo Purchase Licensing Rights, opens new tab

CompaniesBERLIN, Nov 23 (Reuters) - German pharma company Bayer

(BAYGn.DE), opens new tab reported positive study results for its anticoagulant asundexian on Sunday, two years after a research setback for the promising blood thinner candidate.

In a Phase III study, a daily dose of 50 milligrams significantly reduced the risk of ischemic stroke compared with a placebo, Bayer said.

Sign up here.

Detailed results from the OCEANIC-STROKE study will be presented at an upcoming scientific congress, said Bayer.

Bayer added that it plans to speak with health authorities worldwide in preparation for the submission of marketing authorisation applications.

Bayer had originally predicted that asundexian would have peak sales potential of more than 5 billion euros ($5.76 billion) - more than any of its other drugs.

At the end of 2023, the company had a major setback with the drug after it failed in a pivotal clinical trial involving patients with atrial fibrillation and a risk of stroke.

($1 = 0.8687 euros)

Reporting by Joern Poltz. Writing by Miranda Murray. Editing by Jane Merriman

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

The Kohl’s label is seen on a shopping basket in a Kohl’s department store in the Brooklyn borough of New York, U.S., January 25, 2022. REUTERS/Brendan McDermid Purchase Licensing Rights, opens new tab

CompaniesNov 23 (Reuters) - Kohl's Corp

(KSS.N), opens new tab is expected to appoint Michael Bender as its permanent chief executive as early as Monday, Bloomberg News reported on Sunday, citing a person familiar with the matter.

The board interviewed several candidates before opting to appoint Bender, according to the report.

Sign up here.

Reuters could not immediately verify the report. Kohl's did not immediately respond to a Reuters request for comment. Michael Bender could not be immediately reached for a comment on the role change.

In May, the struggling department-store retailer fired former CEO Ashley Buchanan after an investigation uncovered his undisclosed personal relationship with a vendor whose deals he had aggressively pursued, barely 100 days into the role.

Buchanan's firing in May was the third CEO change in three years for Kohl's, hit by falling sales from online and big-box rivals, plus its own missteps.

Kohl's named Bender as its interim CEO effective immediately following the ouster of Buchanan, and said that the search for a permanent chief executive would begin soon.

Bender has served on Kohl's board as a director since July 2019 and brings more than 30 years of senior leadership experience at major retailers, including Walmart

(WMT.N), opens new tab, Victoria's Secret

(VSCO.N), opens new tab and Eyemart Express.

Reporting by Bipasha Dey in Bengaluru

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

Tom Yeung here with your Sunday Digest. 

In August, I asked you to imagine a magic sorting hat that could separate out every stock that goes down. Any remaining stock would obviously increase in value, guaranteeing a great return. 

It’s much like the Eat This, Not That book series that suggests readers consume Big Macs (540 calories, 29g fat) instead of Cheesecake Factory’s Chicken and Avocado Salad (1,830 calories, 130g fat).  

If you get rid of all the “bad” in the world, the only things left would be the “good.” 

 I hope you read that August 17 Digest. Within a month, the two “Buy” stocks had risen 18% on average, while the “Sell” stock had fallen 3%. They have continued to maintain that wide gap. 

Essentially, it’s often easier than investors realize to separate attractive industries (like lithium) from unattractive ones (like coal). One is in a literal sunrise industry, thanks to solar, and has a clear role in AI data centers that require the flexibility of lithium-ion batteries. The other finds itself in a sunset industry. The best coal reserves were mined long ago, and we’re left with lower-grade product that fewer power utilities want. 

You don’t need a magic sorting hat to tell you that. 

Separating “good” from “bad” also works within an industry. Some companies have better management, superior assets, or higher-quality products than their peers. These are the firms to buy. 

To walk you through this, legendary global macro investor and InvestorPlace Senior Analyst Eric Fry has put together a presentation that explains his “Buy This, Not That” concept and provides recommendations about which stocks are set to soar… and which ones are about to plummet. 

That’s because Eric believes we’re entering the Age of Chaos, a period where previously reliable, household names are upended by a surge of dynamic, surprising companies that are poised to grow faster than we’ve seen before.  

In his free presentation, he makes recommendations on what areas are going to be great buys and what should be sold immediately. 

Today, I’d like to add one more set of “Buy This, Not That” companies to illustrate how straightforward this concept can be. 

Let’s jump in… 

Buy This Gem… 
At first glance, Hyundai Motor Co. (KRX:005380) is not an obvious “good” company. 

The South Korean car company operates in a fiercely competitive market that’s being hammered by U.S. tariffs. Roughly 60% of its cars (which include the Kia brand) are produced outside America, making Hyundai the most exposed car company to U.S. import taxes. A September immigration raid on its Georgia plant further clouded its future.  

It’s now a deep-value firm trading at less than 7X forward earnings.  

Yet, a deeper dive will quickly reveal that Hyundai has two secret weapons that quietly position it on the “good” side of stocks to buy. 

The first secret weapon involves a bit of history…. 

In 1992, Massachusetts Institute of Technology (MIT) Professor Marc Raibert spun off his robotics laboratory into a company called Boston Dynamics.  

From a technical standpoint, his firm was an incredible success. In 2005, Boston Dynamics created “Big Dog,” a four-legged pack mule robot designed for the U.S. military that could carry 340 pounds of supplies. (It was the inspiration for a killer robot in an episode of the hit Netflix show Black Mirror.)  

The team followed up in 2016 with a leaner version named “Spot” and a two-legged humanoid one named “Atlas.” The latter has been featured in numerous acrobatics videos and has started doing basic tasks in warehouses and factories.   

However, the “brains” of these robots never quite matched the “brawn” of Boston Dynamics’ engineering. For years, robots relied on model-based control. Everything needed to be hand-programmed, limiting their commercial use. Owning Boston Dynamics (and its cash-burning business) turned into a game of hot potato. 

In 2013, Boston Dynamics was acquired by Alphabet Inc. (GOOG), and it was later sold to Japan’s SoftBank Group Corp. (SFTBY) in 2017. SoftBank then resold Boston Dynamics to Hyundai in 2020 to cover losses at its flagship Vision Fund.  

That’s when AI came around. 

Over the past several years, artificial intelligence has given rise to a new field of machine learning. Rather than use explicit equations, modern robots can now use reinforcement learning (a form of AI) to experiment and improve. These systems can even run millions of simulations virtually before taking any action in real life. 

That’s helped Boston Dynamics to produce far smarter devices. Its robots can now be controlled with natural language and gestures, and users can expect them to run autonomously. Its Atlas robots can figure out how to perform acrobatics for themselves. 

This should put Hyundai on an entirely new growth path. As robots become more capable, firms like Boston Dynamics will see soaring demand for their cutting-edge machines. Household chores… handyman services… even minor construction jobs may someday be performed by humanoid robots. Hyundai itself is already testing Boston Dynamics’ humanoid Atlas robots in its factories.  

Hyundai’s second growth area is in electric vehicles (EVs). The company’s Ioniq 5 is virtually tied as the third-most popular EV in America behind Tesla’s Model 3 and Model Y, and reviewers have called it a “sensible and satisfying electric vehicle that doesn’t skimp on personality.” The firm is also a leader in plug-in hybrids and plans to launch a new lineup of extended-range EVs in 2027 that could drive 600 miles or more on a single charge. 

Essentially, Hyundai had far less of a brand to initially protect. It saw EVs as a way to be “first” to a new market and built a dedicated battery electric vehicle (or BEV) architecture before most of its competitors. (Its E-GMP platform is shared with Kia and Genesis.) The South Korean government also offered generous subsidies for Hyundai’s EV efforts, driven by the importance of battery technologies to other Korean firms, such as LG, SK, and Samsung. 

This means Hyundai’s shares remain too cheap. The upside from electric vehicles could drive shares 50% higher… and the success of Boston Dynamics could double the stock. 

Now, it’s important to note that Hyundai is a relatively challenging stock to buy. Its U.S.-traded ADRs (HYMTF) have almost no liquidity, and so investors will need an international trading account that can transact Korean shares. 

Still, those able to invest in Hyundai’s stock will be buying a leading EV maker with incredible upside thanks to its ownership of one of the world’s top robotics firms. 

…  And Sell This Old Timer 
Meanwhile, Toyota Motor Corp. (TM) was once everything that Hyundai is now.

In the 1980s, the Japanese automaker gained recognition as a leader in quality manufacturing, thanks to innovations such as “Kanban” and “Andon.” Individual workers could stop an entire production line if they found any defects. (Meanwhile, Hyundai’s Excels were embarrassingly bad.) 

Toyota was also among the first automakers to invest in alternative energy. The firm began experimenting with hybrids in 1990 and launched its first-generation Prius in 1997. They followed up with hybrid versions of Camrys, Highlanders, and more. 

Additionally, the company leveraged its brand power. Its advertisements in the 2000s heavily featured its STAR Safety System, and its focus on reliability and ruggedness helped propel the Toyota Tacoma to become America’s top-selling midsized pickup. 

That turned Toyota into a high-growth, high-return stock. Between 1985 and 2024, the company saw its U.S. market share surge from 6% to 15%, turning every $100 invested in the company into $2,800. They also dominated international markets like Australia, the Philippines, and South Africa. 

That means Toyota’s shares have traditionally traded at a premium. Its stock has averaged 10.7X forward earnings since 2005, a 50% premium over Hyundai’s shares.  

However, the automaker’s early success is now working against it. 

Reliability. Toyota’s competitors have now largely caught up. Earlier this year, Subaru overtook Toyota in customer satisfaction rankings for the first time, according to the American Customer Satisfaction Index (ACSI). Toyota now shares second place with Mazda. Hyundai, Honda, and GM are close behind. 
Innovation. Toyota was hesitant to develop EVs since management feared the new technology would cannibalize hybrid sales. In 2024, its chairman admitted that EVs would create enormous job losses among its suppliers. 
Profitability. The company’s return on equity has narrowed due to greater competition from both established carmakers like Hyundai and up-and-coming Chinese makers like BYD. Analysts expect returns on equity to fall below 9% this coming year – a departure from its historical 11% average. 
Valuation. Toyota’s premium valuation now puts shares at risk of a selloff. On a price-to-earnings basis, shares would need to fall at least 20% to bring them in line with their peers. 

That makes Toyota a relatively unattractive bet compared to Hyundai. Though the Japanese automaker won’t disappear any time soon, its days as the world’s undisputed leader are coming to an end. 

Buy This, Not That 
In the early 1980s, Morgan Stanley’s quant team began using a strategy called “pair trading.” Their systems sought out historically correlated stocks and placed bets whenever prices diverged. That would allow Morgan Stanley’s team to profit whenever the “spread” reconverged. 

In other words, if a company like General Motors Co. (GM) rose one day while Ford Motor Co. (F) declined, the system would buy Ford and sell GM, expecting a turnaround. 

Eric’s system takes things one step further.  

By differentiating between attractive and unattractive industries, he’s able to spot trades that pay off over far longer time horizons. 

In fact, years ago, Eric recommended selling construction company Lennar Corp. (LEN) and buying Valero Energy Corp. (VLO) instead. Within three years, Lennar lost half its value while Valero more than tripled. 

Eric provides more details in his presentation here. In total, he reveals seven “Buy This, Not That” trade ideas for the Age of Chaos, offering viewers exciting alternatives to today’s most overrated stocks.  

Click here for all the details.

Until next week, 

Tom Yeung 

Market Analyst, InvestorPlace 

Thomas Yeung is a market analyst and portfolio manager of the Omnia Portfolio, the highest-tier subscription at InvestorPlace. He is the former editor of Tom Yeung’s Profit & Protection, a free e-letter about investing to profit in good times and protecting gains during the bad.

The artificial-intelligence trade was already starting to crack before Nvidia Corp. reported earnings, and upbeat results from the world's largest company weren't enough to flip sentiment.

H. Michael, Schwartz, Chief Executive Officer of SmartStop Self Storage REIT (SMA +1.56%), executed an open-market purchase of 6,250 shares for a total of $198,187.50, as disclosed in the SEC Form 4 filing.

Transaction summaryMetricValueContextShares traded6,250Open-market purchase on November 17, 2025Transaction value$198,187.50At $31.71 per share (SEC Form 4 reported price)Post-transaction shares174,370Indirect common stock holdings after transactionPost-transaction value (direct ownership)$5.44 millionBased on Nov. 17, 2025 market close ($31.20)Transaction value based on SEC Form 4 reported price ($31.71); post-transaction value based on Nov. 17, 2025, market close ($31.20).

Key questionsWhat does this transaction indicate about Schwartz H. Michael’s direct ownership in SmartStop Self Storage REIT?
Following this acquisition, direct ownership in common stock stands at zero shares. All remaining reported interests are held indirectly through entities such as Churchill TRI LLC and various family trusts.How does the scale of this trade compare to Schwartz H. Michael's historical activity?
This transaction involved 6,250 shares, which is below the median of 12,125 shares for all historical events reported for this insider.What is the market context for this transaction?
The shares were purchased at $31.71 per share on November 17, 2025. The closing price on the same day was $31.82, and as of November 22, 2025, the stock is priced at $31.20.How does indirect ownership structure affect the assessment of insider alignment?
Although direct holdings are at zero, Schwartz H. Michael maintains substantial indirect exposure through Churchill TRI LLC, The H. Michael Schwartz 2011 Irrevocable Trust, and The Holly Breaux Schwartz 2011 Irrevocable Trust, as detailed in the Form 4 footnotes and ownership context.Company overviewMetricValueMarket capitalization$1.76 billionRevenue (TTM)$263.34 millionNet income (TTM)($5.43 million)Company snapshotOperates self-storage facilities across North America, offering storage units and related services to individuals and businesses.Leverages a technology-driven, fully integrated operations platform staffed by self-storage professionals.Serves a broad customer base with self-storage solutions across North America.SmartStop Self Storage REIT is one of the largest self-storage operators in North America, with a growing portfolio in both the United States and Canada. The company employs a technology-focused approach to streamline operations and enhance customer experience. Its scale and integrated management platform position it competitively in high-growth markets within the specialty REIT sector.

Foolish takeThere are millions of reasons for an insider to sell shares of the company they work for, but just one reason to buy. Schwartz probably expects shares of SmartStop Self Storage REIT to rise in the foreseeable future.

It appears that Schwartz is excited about the recent addition of a third-party management platform. In the third quarter, the real estate investment trust (REIT) launched a third-party management business by acquiring Argus Professional Storage Management. Argus is the second-largest exclusively third-party management company in the self-storage industry. When SmartStop closed the transaction on Oct. 1, 2025, Argus was managing 227 stores across 26 states.

Schwartz's enthusiasm for SmartStop stock hasn't been due to recent growth in the self-storage business. Third-quarter revenue rose just 2.5% year over year.

Topline revenue growth hasn't been anything to write home about, but at least the company's bottom line is rising rapidly. Funds from operations, a proxy for earnings used to evaluate REITs, rose by $15.8 million year over year to $27.5 million in the third quarter.

GlossaryOpen-market purchase: Buying securities directly on a public exchange, rather than through private transactions or company-issued grants.

Direct ownership: Shares held personally in an individual's own name, not through another entity or trust.

Indirect ownership: Shares owned through entities such as trusts or companies, not held personally by the individual.

Insider: A company executive, director, or large shareholder with access to non-public company information.

Insider alignment: The extent to which an insider's financial interests match those of regular shareholders.

Form 4: A required SEC filing that discloses insider transactions in a company's securities.

Irrevocable trust: A legal arrangement where assets are managed by a trustee and cannot be changed or revoked by the grantor.

Dividend yield: Annual dividends paid by a company divided by its share price, expressed as a percentage.

REIT: Real Estate Investment Trust, a company owning or financing income-producing real estate.

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

NEW YORK, Nov. 23, 2025 (GLOBE NEWSWIRE) --

WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers or sellers of common stock of Cepton, Inc. (NASDAQ: CPTN) between July 29, 2024 and January 6, 2025, both dates inclusive (the “Class Period”), of the important December 8, 2025 lead plaintiff deadline.

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

WHAT TO DO NEXT: To join the Cepton class action, go to https://rosenlegal.com/submit-form/?case_id=45981 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. If you wish to serve as lead plaintiff, you must move the Court no later than December 8, 2025. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

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

DETAILS OF THE CASE: According to the lawsuit, throughout the Class Period, defendants made materially false and misleading statements regarding Cepton’s business, operations, and compliance policies. Specifically, defendants made false and/or misleading statements and/or failed to disclose that: (1) Cepton had received a credible third-party bid valuing Cepton at more than double the Koito Acquisition (Cepton’s merger with Koita Manufacturing Co., Ltd.); (2) Cepton’s Board of Directors failed to meaningfully explore the foregoing offer and failed to disclose its terms when recommending that Cepton’s shareholders approve the Koito Acquisition; (3) consequently, Cepton’s shareholders were deprived of the opportunity to meaningfully consider whether to accept or reject the Koito Acquisition; and (4) as a result, defendants’ public statements were materially false and misleading at all relevant times.

To join the Cepton class action, go to https://rosenlegal.com/submit-form/?case_id=45981 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.

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

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

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

Contact Information:

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

The key factors determining this stock's price aren't complicated, even if it is difficult to predict how the market will feel about them.

It isn't a household name... not here in America anyway. That's largely because it doesn't sell its product in the United States (at least not yet). If you've stumbled across BYD Company (BYDDY +0.67%), however, you probably liked what you saw -- like its profitability -- enough to consider taking on a position in China's electric vehicle giant. And understandably so.

Before you make or build on such an investment, though, you'll want to understand the three biggest factors driving this stock's price right now. These factors are likely to continue driving this ticker's price for the foreseeable future.

Image source: Getty Images.

1. The company is fiercely self-sufficient
Making automobiles can be incredibly complicated. Aside from sourcing thousands of different parts from all over the world, they must be assembled in one place, and then delivered to where they're sold. It's just a lot to manage when you're outsourcing much of this production and service.

BYD takes the even more complicated approach to being in the carmaking business, though. Rather than punting much of its manufacturing work to third-party partners, it does the bulk of this work itself. Unlike many of its nascent competitors, it also manufactures its own lithium-ion batteries used in almost all modern electric vehicles. BYD even owns seven massive boats used to transport electric vehicles from China to overseas markets, rather than relying on contracted maritime delivery services.

Today's Change

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0.67

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All these decisions incur significant up-front costs. In the long run, however, they provide BYD with the flexibility and nimbleness more companies wish they enjoyed. (The next detail about BYD says as much.)

2. BYD technically already dominates the EV market
Tesla (TSLA 1.10%) may still be the best-known name in the business, but it's no longer the biggest. In terms of total unit sales, BYD technically eclipsed Tesla earlier this year, and on a worldwide basis has now outsold Tesla for four consecutive quarters.

Given its capacity to make and deliver electric cars exactly how, when, and where needed, it's reasonable to presume the company will continue widening its lead on its top rival as well as all other competitors.

3. Like Tesla, competition is crimping BYD's profit margins
Being bigger doesn't necessarily mean this company can simply push its rivals around indefinitely, however. BYD's share of the electric vehicle market in China -- where the company still does most of its business, and where most EVs are sold -- slipped from 36.1% in October of last year to only 23.1% last month, with share going to newer entrants like Geely, SAIC, and even Xiaomi.

This fresh competition has forced BYD to discount its cars too, dragging its recently reported third-quarter profit down 33% from its year-ago comparison. Although financial analyst EY (formerly Ernst & Young) expects electrified automobiles' share of China's passenger car market to grow from 50% to 90% of the country's total automobile market by 2034, those price-competitive rivals will still be around then, keeping pressure on BYD's profit margins in place the whole time. The company will eventually need to respond.

The 23-year old wunderkind makes a contrarian bet in Q3.

It's 13F season, the time of the quarter when major hedge funds disclose their buys and sells from the prior quarter.

With so much uncertainty around the longevity of the artificial intelligence (AI) boom, both to the upside and downside, investors are no doubt searching for clues as to what the so-called "smart money" is thinking about leading technology companies.

While many investors follow investing legends, such as Warren Buffett, Stan Druckenmiller, Bill Ackman, Phillipe Laffont, and others, interested investors should especially follow one new hedge fund founded just last year, run by a 23-year-old former OpenAI researcher. Though this manager is a big believer in the artificial intelligence boom -- or at least was previously -- his third-quarter trades may shock fellow AI bulls.

Image source: Getty Images.

Leopold Aschenbrenner's Situational Awareness
In 2024, then-22-year-old Leopold Aschenbrenner founded a new hedge fund called Situational Awareness. The term "situational awareness" originates from the AI world, where an AI model becomes aware of its own circumstances -- a potential security risk much like the computer HAL from 2001: A Space Odyssey.

Some might question following the bets of a 23-year-old or how he was able to raise hundreds of millions of dollars to start a hedge fund. Then again, Aschenbrenner is no ordinary 20-something. He graduated as valedictorian from Columbia University at the age of 19, with a dual major in economics and mathematics -- an age when most of us were just attending our first frat party as freshmen.

In 2023, he joined OpenAI as part of the Superalignment team tasked with cutting-edge research pursuing artificial general intelligence (AGI). Aschenbrenner was known to push buttons at OpenAI and was fired in 2024 over an allegation that he leaked sensitive information to third parties. Aschenbrenner denied this, claiming that he had shared hypothetical scenarios related to safety and AGI with outside parties as part of a brainstorming session, a type of activity common in Silicon Valley. His Superalignment team was later dissolved when other members, such as famed research Ilya Sutskever, left to found their own AI companies.

After his firing, Aschenbrenner published a 165-page essay called "Situational Awareness" in which he anticipated a fairly rapid path to AGI starting in 2027, when he predicts AI models will attain the ability to conduct their own research. Aschenbrenner also warned about the inevitable safety and geopolitical risks that come with the emergence of AGI.

At the same time, he also launched a hedge fund, specifically to capitalize on AGI trends in the market.

Q3 moves: Short Nvidia, TSMC, and Broadcom?
Situational Awareness's buys and sells in the third quarter were extremely surprising in light of what Aschenbrenner seems to believe about AI progress -- or at least what he believed as recently as 2024.

In his 2024 essay, Aschenbrenner anticipated AI training clusters would continue to grow exponentially in size in the years ahead, assuming technological progress proceeds at the current rate. That would see AI clusters going from 100,000 H100-equivalent clusters fed by 100 megawatts of power in 2024, costing billions, to a whopping 100 million H100-equivalent clusters powered by 100 gigawatts of power by 2030, costing as much as $1 trillion apiece. Yes, that's "trillion" with a "T."

Thus, it was a huge surprise to see Aschenbrenner actually go short the foundational leaders in chipmaking today -- Nvidia (NVDA 1.06%), the leader in AI graphics processing units (GPUs), Broadcom (AVGO 1.91%), which helps large cloud companies make their custom ASICs and is a leader in networking chips, and Taiwan Semiconductor (TSM 0.96%), the world's dominant semiconductor foundry for leading-edge chips.

While 13F filings don't require the disclosure of short positions, they do show whether a fund is long put options, which is another way of being short a stock. In the third quarter, Situational Awareness (SA) bought put options on all three stocks, with the notional value of the puts on Nvidia equating to 6.95% of the portfolio, Broadcom puts equating to 1.77%, and Taiwan Semiconductor (TSMC) puts at 1.76%. While not SA's largest positions, they are still notable, with the Nvidia put position being the sixth-largest overall in the portfolio as of the end of the third quarter.

It's also notable that SA turned bearish on Broadcom. In fact, in the second quarter, Broadcom was SA's third-largest long position, at 11.7% of the portfolio. So, Aschenbrenner flipped from bullish to bearish on Broadcom in a very short period of time.

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SA maintains its leveraged bet on Intel
Meanwhile, SA maintained its largest long position from the second quarter, comprised of Intel (INTC +2.53%) call options, with a notional amount accounting for 16.41% of the SA portfolio. This was a position that Aschenbrenner first took in the first quarter of this year, with call options essentially making this a leveraged long bet on Intel stock.

Being long Intel and short Nvidia, Taiwan Semiconductor, and Broadcom is a very out-of-consensus position. So, what could be the explanation?

One reason could be Lip-Bu Tan becoming CEO of Intel on March 12. Tan has a long track record of success in his career in the semiconductor industry, so the Intel position could be a bet on Tan's ability to lead Intel to a turnaround.

Another explanation could be Aschenbrenner's belief in Intel's new 18A node being successful. This node was the endpoint of former CEO Pat Gelsinger's "five nodes in four years" plan he initiated in 2021 and is just entering high-volume manufacturing. It was also the node at which Intel was supposed to catch up with or surpass TSMC in process technology. So, Aschenbrenner may think 18A will work, potentially upending the current paradigm of TSMC's dominance.

Finally, the bets could be mere valuation calls, with Intel having a tiny market cap compared with the others. Nvidia's, TSMC's, and Broadcom's stocks also all had big third quarters. So, it's possible that Aschenbrenner merely sees these stocks pulling back from their current high valuations in the short term.

A fund to track
Whether Aschenbrenner continues these bets going forward is an open question. It appears that his thinking is somewhat fluid. Even though Aschenbrenner is a technologist, SA also appears to be valuation-sensitive, as evidenced by his flip on Broadcom.

With Aschenbrenner having become an AGI thought leader, and given his recent contrarian bets, Situational Awareness is a new fund all AI investors should track going forward.

These megacap companies have rewarded investors with epic long-term gains, but one -- Tesla -- may now be overextended.

Nvidia, Microsoft, Apple, Alphabet, Amazon, Meta Platforms, and Tesla (TSLA 1.10%) form an elite group of companies known as the "Magnificent Seven" due to their industry leadership and market influence.

As many of these companies continue to deliver market-beating returns, the Magnificent Seven now comprise a remarkable 35% of the value of the S&P 500.

In a series of articles, I'll be ranking each of these stocks and discussing why some are still chock-full of untapped potential, while others should be avoided by investors.

Here's why Tesla is my least favorite of the bunch to buy in 2026.

Image source: Tesla.

Tesla's core business growth is slowing
If Tesla can effectively monetize some of its larger bets, such as its planned Robotaxi network, its humanoid robots, or its other artificial intelligence (AI) endeavors, it could easily be the single best Magnificent Seven stock to buy and hold for the next five to 10 years.

But that's a big "if."

The major difference between Tesla and the other Magnificent Seven companies is that its core business is struggling.

By comparison, revenue growth remains strong for Apple's iPhone and services categories. Amazon Web Services generates gobs of free cash flow that funds the company's other ambitions. Alphabet and Microsoft each generate sizable earnings from a variety of digital segments, including cloud computing infrastructure, where they're both major players. Meta Platforms has its highly profitable "family of apps" segment, which brings in more than enough to support its billions of dollars in losses from Reality Labs, which contains its metaverse-related operations. And Nvidia's compute and networking segment continues to deliver jaw-dropping results, while its smaller segments are also highly profitable.

By contrast, Tesla's electric vehicle (EV) deliveries were trending downward in the first half of 2025, though it remains the market leader. Its energy storage business is on firmer footing, but it makes up a small part of the top line. In the third quarter, Tesla grew automotive revenue just 6% year over year as deliveries rebounded, up 7%. However, the company's operating margin fell to just 5.8% -- a steep decline from 10.8% a year earlier.

Tesla is spending a ton of money on artificial intelligence and robotics, but it has yet to see a payoff from those investments.

This past summer, Tesla launched its autonomous ride-hailing service in Austin, Texas, and it has since expanded it to a few other markets, including the San Francisco Bay Area. However, it remains to be seen how profitable it will be at scale.

It's also worth noting that, so far, that service is being provided by standard Model Y EVs that have been outfitted with Tesla's Robotaxi technology, not the much-discussed Cybercab, which is not yet in production. And in most markets, regulators are still requiring human monitors for those autonomous vehicles. 

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There are better buys than Tesla for 2026
Tesla's Robotaxis feature pioneering-edge AI, which presents distinct challenges compared to embedding AI within smartphones or personal computers, so the company deserves credit for making progress in that field.

However, the risks of investing in Tesla simply aren't worth the potential rewards at this time, especially given the fact the stock is trading at 178 times expected 2026 earnings.

Since Tesla's valuation appears to be increasingly disconnected from its core EV business and based more on the potential of new ventures that have yet to prove themselves, investors may want to take a "wait and see" approach to the stock at this time. There are many other compelling buys in big tech.

Stay tuned to find out how the remaining Magnificent Seven stocks stack up in my rankings for 2026.

Daniel Foelber has positions in Nvidia. The Motley Fool has positions in and recommends Alphabet, Amazon, Apple, Meta Platforms, Microsoft, Nvidia, and Tesla. The Motley Fool recommends the following options: long January 2026 $395 calls on Microsoft and short January 2026 $405 calls on Microsoft. The Motley Fool has a disclosure policy.

NEW YORK, Nov. 23, 2025 (GLOBE NEWSWIRE) --

WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of common stock of aTyr Pharma, Inc. (NASDAQ: ATYR) between January 16, 2025 and September 12, 2025, both dates inclusive (the “Class Period”), of the important December 8, 2025 lead plaintiff deadline.

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

WHAT TO DO NEXT: To join the aTyr Pharma class action, go to https://rosenlegal.com/submit-form/?case_id=46109 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. If you wish to serve as lead plaintiff, you must move the Court no later than December 8, 2025. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

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

DETAILS OF THE CASE: According to the complaint, defendants provided overwhelmingly positive statements to investors while, at the same time, disseminating false and misleading statements and/or concealing material adverse facts concerning the efficacy of Efzofitimod, particularly, the drug’s capability to allow a patient to completely taper their steroid usage. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the aTyr Pharma class action, go to https://rosenlegal.com/submit-form/?case_id=46109 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.

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

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SummaryThe Central and Eastern Europe Fund has risen 44% since January 2025, with a recent pullback offering a potential entry point.CEE now trades at a 6% discount to NAV, but the lack of catalysts and reduced Eastern European exposure limit upside potential.The fund has repositioned away from Russia, focusing on Poland (62% of holdings), Hungary, Luxembourg, Turkey, and the Czech Republic.Given muted regional economic growth and limited upside, I rate CEE a 'Hold' despite prudent management and a modest valuation cushion. dzika_mrowka/iStock via Getty Images

Introduction The share price of The Central and Eastern Europe Fund (CEE) has increased approximately 44% since January 2025, with the recent pullback from a high of $18.70 presenting investors with a possible entry point. While the fund

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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BitMine has added another 21,537 Ethereum tokens, continuing its accumulation strategy despite $4 billion in unrealized losses.The firm is leaning into a long-term ETH thesis, blaming recent market pressure on a liquidity shock rather than weakening fundamentalsBitMine has also revealed plans to launch a new US-based validator network called MAVAN next year to generate staking revenue.BitMine is intensifying its aggressive accumulation of Ethereum, looking past a 47% collapse in its stock price and billions in unrealized losses.

On November 23, blockchain platform Lookonchain reported that a wallet linked to the corporate giant received 21,537 ETH. The transfer, valued at approximately $60 million, came from institutional prime broker FalconX.

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BitMine Doubles Down on Ethereum With Staking PlanThis new purchase would bring BitMine’s total hoard to over 3.5 million ETH, representing nearly 3% of the token’s circulating supply.

The move signals a defiant commitment to its “Strategic ETH Reserve” strategy despite the asset’s recent price struggles.

Indeed, Ethereum is trading near $2,808, down roughly 29% over the past month. Notably, BitMine’s Thomas Lee had attributed ETH’s recent weakness to broader market mechanics rather than fundamental flaws.

According to him, the October 10 “liquidity shock,” which wiped nearly $20 billion in leveraged positions from the crypto market, was the primary driver of the drawdown.

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“In 2022, the post-FTX liquidity shock took 8 weeks to clear, but similar to prior drawdowns, crypto prices quickly recovered. History shows crypto prices stage V-shaped recoveries after a lingering and drawn out decline, and we expect this to again be the case in this current drawdown,” He added.

As a result, the downturn has significantly impacted BitMine’s ETH holdings, leaving the firm with an estimated $4 billion in paper losses. This divergence has weighed heavily on BitMine’s stock, which has shed nearly half its value over the past 30 days.

To offset the sting of declining asset prices, BitMine is effectively rebranding itself from a passive ETH holding company to an active yield generator.

On November 21, the firm announced the launch of the “Made in America Validator Network” (MAVAN). The proprietary staking infrastructure is set to go live in early 2026.

Meanwhile, the firm confirmed that it has selected three pilot partners to test its staking operations.

“We plan to partner with one or more of these pilot partners plus world-class infrastructure providers to scale our own “Made in America Validator Network” (MAVAN) over the coming quarter…we believe in building the premier destination for our natively staked Ether and are proud to build with the best partners. At scale, we believe our strategy will best serve the long-term best interests of our shareholders,” Lee stated.

By staking its 3.5 million ETH, BitMine could theoretically generate substantial annual revenue from network rewards. This would create a cash-flow floor that pure holding strategies lack.

Additionally, the firm declared an annual dividend of $0.01 per share, positioning itself as the first large-cap crypto treasury to return capital to investors directly.

Disclaimer

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

The cryptocurrency market has entered one of its most volatile phases of the year as more than $1 billion worth of positions across Bitcoin, Ethereum, Solana, XRP and other leading altcoins were liquidated within 24 hours. The sell-off has erased a staggering $1.35 trillion in total crypto market value since October, reflecting panic-driven trading conditions ahead of a massive options expiry event.

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

According to recent reports, VanEck’s leadership has warned that rising quantum computing risks could force the firm to reduce or even exit its Bitcoin holdings.

The firm’s CEO Jan van Eck said he would “walk away from Bitcoin if we think the thesis is fundamentally broken,” a line that has stirred debate across markets and crypto circles.

Matt Sigel, VanEck’s head of digital-assets research, added that a narrow “window of uncertainty” could open if quantum machines reach a level that threatens current cryptography.

VanEck Issues Stark Warning
VanEck’s comments focus on the time between a credible quantum breakthrough and a full, network-wide migration to post-quantum signatures.

Reports have disclosed that this gap could be dangerous because attackers could exploit the period to steal funds or undermine trust.

Some researchers estimate that a careful migration might need about 76 days of highly coordinated action, a logistical challenge for a decentralized network that typically moves slowly on major changes.

VanEck CEO Jan van Eck on CNBC:

“There’s something else going on within the Bitcoin community that non-crypto people need to know about.

And that is: ultimately, VanEck has been around before Bitcoin. We will walk away from Bitcoin if we think the thesis is fundamentally… pic.twitter.com/pCUtuqBVHD

— Arjun Khemani (@arjunkhemani) November 22, 2025

Technical And Coordination Hurdles
Bitcoin’s current cryptography relies on elliptic curve signatures. A sufficiently powerful quantum computer could run known algorithms to derive private keys from public data.

That is the technical fear. Based on reports, making Bitcoin “quantum safe” would likely mean adopting lattice-based or hash-based schemes and coordinating a hard fork.

BTCUSD trading at $86,216 on the 24-hour chart: TradingView
Coordination is hard because miners, exchanges, wallet makers, and node operators must all agree. That difficulty is the heart of the worry, not just the math.

VanEck’s public stance is also a hedging move. The company has launched investment products tied to quantum technology, signaling it expects quantum computing to matter financially.

VanEck CEO said the $BTC quantum risk and their readiness to dump it if the risk grows.

We must quantum proof Bitcoin in 2026.

— Ted (@TedPillows) November 22, 2025

At the same time, the CEO’s warning has put pressure on institutional players to reassess risk models and contingency plans. Some long-time Bitcoin holders are said to be looking at privacy coins that emphasize different cryptographic approaches.

Market And Policy Implications
If an institutional player with VanEck’s profile signals a possible exit, market confidence could shift quickly. Institutional flows matter. A scramble to move large holdings would increase price volatility and could trigger further sell orders.

Regulatory and national security agencies have also been paying attention; guidance from some national cyber centers suggests critical systems should adopt post-quantum measures well before threats are immediate, with planning horizons that reach into the next decade.

Featured image from Yuichiro Chino/Getty Images, chart from TradingView

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Christian, a journalist and editor with leadership roles in Philippine and Canadian media, is fueled by his love for writing and cryptocurrency. Off-screen, he's a cook and cinephile who's constantly intrigued by the size of the universe.

Bitcoin and Ethereum have impressive track records and sky-high future price targets.

Over the past decade, investing in hypergrowth cryptocurrencies has become a proven way to attain millionaire status. According to the latest Crypto Wealth Report from Henley & Partners, there are an estimated 241,700 crypto millionaires in the world right now.

Of these, 145,100 are Bitcoin (BTC +2.69%) millionaires. But is Bitcoin still the most likely way to grow your wealth over time? Or could Ethereum (ETH +2.00%) potentially offer a faster path to millionaire status? Let's take a closer look.

Historical track records
The key to Bitcoin's enormous success has been its ability to compound its performance, year after year, with just a few missteps along the way. Since 2010, Bitcoin has only had three losing years: 2014, 2018, and 2022. In every other year, it has ripped higher at a head-spinning rate.

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More than any other cryptocurrency, Bitcoin demonstrates the power of compounding returns. In the period from 2017 to 2025, Bitcoin grew at a compound annual growth rate (CAGR) of 50%. That's all the more impressive given that it collapsed in value in both 2018 and 2022. But the other years were so phenomenal that they more than made up for the bad years.

In fact, it's getting to the point where investors think Bitcoin can double in value every year. At the start of this year, for example, the conventional wisdom was that Bitcoin would double in value, from $100,000 to $200,000. That hasn't been the case, of course, but Bitcoin did hit a new all-time high of $126,000 in October.

Ethereum has been no slouch, either. During that same time period, Ethereum grew at a CAGR of 33%. Ethereum, too, tends to follow a four-year cycle, in which three good years are followed by one absolutely miserable year. After growing by 472% in 2020 and 395% in 2021, for example, Ethereum promptly gave it all back. In 2022, Ethereum lost 68% of its value.

Future growth projections
Another way to evaluate the millionaire-maker potential of any cryptocurrency is by taking into account future growth projections. In most cases, these are built by evaluating the potential use cases of a cryptocurrency, and then estimating how much market share it might gain within a certain niche, vertical, or industry.

Image source: Getty Images.

Here, too, Bitcoin appears to have the edge over Ethereum. The conventional wisdom is that Bitcoin can hit a price target of $1 million within the next five years, based on an exploding set of new use cases. That point of view has been supported by Cathie Wood of Ark Invest, Brian Armstrong of Coinbase Global, and Jack Dorsey of Block.

Growing tenfold in price within a short period of time might seem impossible. But, time and time again, Bitcoin has grown at an exponential rate. It soared from $1 to $10, then $10 to $100, then $100 to $1,000, then $1,000 to $10,000, and then $10,000 to $100,000. All of that took place in the span of less than 15 years. So why can't Bitcoin once again grow from $100,000 to $1 million?

Ethereum, too, has been the subject of endless speculation about how much higher it might go. At one time, investors thought Ethereum might even surpass Bitcoin in market cap, due to how fast it was growing.

Right now, one of the most aggressive future price targets for Ethereum is $20,000. Given Ethereum's current price of $3,150, that implies a nearly sixfold increase in price. That's highly impressive, of course, but it falls short of Bitcoin's potential tenfold price increase.

What happens to growth rates over time?
Based on the above, Bitcoin would appear to be the obvious winner. You really can't argue with a cryptocurrency that has already minted 145,100 millionaires. Yes, Bitcoin can experience tremendous volatility. But in eight of the past 10 years, it has been the top-performing asset in the world.

Of course, I fully expect the growth rates of both Bitcoin and Ethereum to slow over time. If Bitcoin is indeed "digital gold," as many crypto investors claim, shouldn't its performance more closely track the long-term performance of gold? That might give an opening to Ethereum, which more closely resembles a tech stock than a commodity. And, over time, wouldn't you expect tech stocks to outperform gold?

That being said, I can't think of a better long-term investment than Bitcoin. As long as you're prepared to deal with the inherent volatility of crypto, a patient approach should ultimately pay off. There's no guarantee you'll become a millionaire by investing in Bitcoin, but there are 145,100 people around the world who will tell you that your odds are going to increase markedly if you do.

Bitwise CIO Matt Hougan believes Ethereum could lead the next crypto rally, pointing to an upgrade catalyst that investors are overlooking.

Summary

Bitwise CIO Matt Hougan says Ethereum could lead next crypto rally with Fusaka upgrade.
The December 3 Fusaka upgrade introduces minimum Layer 2 data fee for revenue capture.
Hougan sees tokens shifting to value capture with Uniswap proposing fee switch model.

The Fusaka upgrade scheduled for December 3 may increase Ethereum’s revenue capture by 5 to 10 times through a minimum Layer 2 data fee.

Hougan argues the market is missing a broader trend: major tokens are quickly shifting toward better value capture. Uniswap (UNI) is moving toward a fee switch that would burn roughly 16% of trading fees, while the XRP (XRP) community explores staking options.

New regulations are pushing tokens away from vague governance models toward direct economic benefits for holders.

Fusaka upgrade targets Layer 2 efficiency
The Fusaka hard fork will activate on December 3, 2025, at 21:49:11 UTC on Ethereum (ETH) mainnet block 13,164,544. Core developers finalized the timeline after successful tests on Holesky, Sepolia, and Hoodi testnets.

Fusaka introduces Peer Data Availability Sampling (PeerDAS), which allows validators to confirm transaction data availability by sampling small pieces rather than downloading complete data blobs.

6/ I suspect the market will start to orient around the positive impacts of Fusaka soon, particularly if its delivered Dec. 3 as expected. It’s an under-appreciated catalyst and one reason ETH could lead the crypto rebound.

— Matt Hougan (@Matt_Hougan) November 22, 2025

The technology makes Layer 2 rollup operations faster, cheaper, and more efficient while reducing bandwidth requirements.

The upgrade increases the block gas limit from 45 million to as high as 150 million. Each block will accommodate more transactions, smart contracts, and data-intensive applications.

Hougan wrote on X that Fusaka introduces “a minimum fee for recording data from Layer 2s” that could multiply revenue capture five to ten times.

“I suspect the market will start to orient around the positive impacts of Fusaka soon, particularly if it’s delivered Dec. 3 as expected,” he stated.

Tokens pivot from governance to economic value
Uniswap’s proposed fee switch would burn approximately 16% of trading fees if the vote passes. “I suspect this will push UNI toward being a top 10 token by market cap over time,” Hougan wrote.

The change would shift UNI from a pure governance token to one with direct economic benefits.

The XRP community is evaluating staking mechanisms that would change token holder economics. Hougan sees this as part of a pattern where tokens are implementing value capture features.

The Bitwise CIO predicts this shift will become apparent in 2026. “The level of value capture in digital assets is up only from here. I think people look at token value capture as static. It’s not,” he wrote.

Hougan described the Fusaka upgrade as “an under-appreciated catalyst and one reason ETH could lead the crypto rebound.”

A major shift is beginning in the global music industry as blockchain technology enters one of its most structurally outdated segments: royalty payments. Record Financial, working alongside 11am, has introduced real-time royalty settlement infrastructure built on Avalanche, aiming to eliminate long-standing payment inefficiencies and create a fairer, more transparent financial pipeline for artists and rights holders.

Sun, 23/11/2025 - 15:45

Bitcoin's drop to $80,600 rattled traders and sent MSTR stock down to its lowest of the year, but Michael Saylor answered the crash with four words that define his stance on all this mess.

Cover image via U.Today

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

Michael Saylor picked four words to sum up his position as Bitcoin goes through one of the most brutal market crashes of the cycle: "I Won't Back Down." It does not seem like another meme from the guy who turned a corporate treasury strategy into a unilateral Bitcoin bet, as the context makes the message more serious this time.

Strategy, the public company Saylor chairs, holds 649,870 BTC at an average cost of $74,430, a position worth roughly $56 billion after the latest compression in the Bitcoin market. Despite Bitcoin's decline from above $120,000 to under $90,000, the position still carries a profit of 16.67%.

However, the company's stock has been under pressure. MSTR fell toward the $170 zone, wiping out nearly the entire premium the stock used to command over its holdings, while the NAV multiplier touched levels not seen since the early phases of the Bitcoin-treasury experiment.

Is Strategy in trouble?Saylor's brief statement arrived hours after Strategy's weekly poll showed 77.8% of respondents claiming they "HODLed" through the latest sell-off, confirming that the Bitcoin crowd still views the downturn as a temporary setback rather than a strategy-breaker.

Bitcoin fell to $80,600 this week, erasing over 30% of gains since October and triggering billions in forced liquidations. Critics, including Peter Schiff, are questioning Bitcoin Strategy's leverage, valuation and survivability.

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Saylor's response is the same as always: the drawdown does not matter, the mission has not changed, and in his view, the company can handle much deeper retracements without changing its position. His message is short and defiant, and it is clear he is not backing down.

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According to the latest on-chain data, investors have been excessively betting on the Bitcoin price in recent weeks, leading to its overall struggles.

Longs Vs Shorts Imbalance — How This Induced Price Crash

In a November 22 post on social media platform X, Alphractal CEO and founder Joao Wedson revealed the underlying dynamics behind Bitcoin’s recent unchecked fall. In deciphering this downward trend, the crypto pundit evaluated the Estimated Long/Short Positions metric, which estimates how much of the Open Interest across exchanges is dedicated to long positions relative to short positions.

Wedson reported that, across 19 exchanges, there are about 71,000 BTC positioned in longs, while a relatively smaller amount of BTC (27,900) is dedicated to shorts. While this observation does not include data from the Chicago Mercantile Exchange (CME), the discrepancy between longs and shorts remains unusually large.

This imbalance is significant because when there are clusters of long positions at similar price levels, the market tends to lean into a more fragile state. Moderate pullbacks beneath these clusters often lead to a cascade of forced liquidations (known as a long squeeze) — an event which could in turn push prices further south.

Source: @joao_wedson on X
Notably, Wedson pointed out that traders must have been convinced that $100,000 was Bitcoin’s price bottom — a speculation that soon became null after its failure. Afterwards, $90,000 came into focus, with another series of liquidations following suit. At the moment, $84,000 seems to be the price majority of Bitcoin’s speculative traders target as the new price bottom.

These liquidation events that took place after the $100,000 and $90,000 supports were breached provided more buy-side liquidity for the Bitcoin price to topple. At the same time, most significant short positions have been closed off, making it difficult for a more defined price recovery to take place, as there is barely any sell-side liquidity to send the Bitcoin price to the upside.

For Bitcoin to recover, Wedson explained that there needs to be a significant decrease in long positioning, while short exposure goes on the rise.

Watch Out For $81,250 — Analyst
In another post on X, technical analyst Ali Martinez noted that Bitcoin’s 2-year moving average, which stands at approximately $81,250, is an important landmark for the future trajectory of the flagship cryptocurrency.

The analyst explained that historical failures of the 730-day SMA have often marked the beginnings of bear markets. Thus, in the scenario where the Bitcoin price slips past its current 2-year average price, we could be witnessing the start of a long bearish cycle

As of press time, Bitcoin holds a valuation of $86,251, reflecting an over 3% price jump in the past 24 hours.

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

Sun, 23/11/2025 - 16:20

Shiba Inu's price made a sudden U-turn after days of dropping, catching bears unawares and unwinding short positions amounting to 5,835,332,744 SHIB while OI increases.

Cover image via U.Today

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

After four straight days of dropping from Nov. 19 to 22, Shiba Inu's price made a U-turn. At the time of writing, SHIB was up 3.93% in the last 24 hours to $0.000007952, having earlier reached $0.000008 on Sunday.

The sudden price reversal caught bears unawares, leading to an unwinding of short positions. This led to liquidations in short bets, which accounted for about 80% of the total wipeout in the last 24 hours.

According to CoinGlass data, total liquidations in the last 24 hours came to $57,200: shorts amounted to $46,210 or 5,835,332,744 SHIB, while long liquidations came in at $10,990.

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Shiba Inu OI risesThe U-turn in Shiba Inu's price has seen SHIB's open interest flip back into the positive zone. Open interest refers to the total number of outstanding derivative contracts that have not been settled; a measure of the total number of open positions in a futures or options market, reflecting liquidity and market activity.

According to CoinGlass data, open interest for Shiba Inu increased to $78.57 million in the last 24 hours, a 5% rise.

What's next for Shiba Inu price?Major cryptocurrencies, including Shiba Inu, are trading in the green on Sunday. However, it might be too early to call this a reversal as the market aims for stability after October's sell-off.

It will be watched to see if this is a temporary relief rally or a reversal that might lead to a more sustained move in the days ahead.

If the current recovery is a dead cat bounce leading to a further drop in the market, Shiba Inu would target support at $0.000006 and $0.000007.

On the other hand, if Shiba Inu confirms a bottom at the $0.0000071 low, the price would seek to stabilize in the coming days, with a short-term consolidation emanating before the next major move.

In the instance that Shiba Inu begins an immediate move if the broader crypto market recovers, it will target its daily moving averages 50 and 200 at $0.00000991 and $0.00001024, respectively.

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Disclaimer: The statements, views and opinions expressed in this article are solely those of the content provider and do not necessarily represent those of Crypto Reporter. Crypto Reporter is not responsible for the trustworthiness, quality, accuracy of any materials in this article. This article is provided for educational purposes only. Crypto Reporter is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Do your research and invest at your own risk.