Market Signal Briefing

Bitcoin faced a sharp wave of selling pressure after plunging below $95,000 for the first time in six months, triggering widespread liquidations and renewed market fear. Despite the downturn, JPMorgan analysts believe the cryptocurrency has already reached its bottom, setting the stage for a potential recovery that could eventually push Bitcoin toward gold’s massive $28.3 trillion market valuation.

According to a recent analysis highlighted by Forbes, JPMorgan’s research team, led by Managing Director Nikolaos Panigirtzoglou, has pinpointed $94,000 as the new Bitcoin price floor. Their projection is based on Bitcoin’s rising production costs, which have climbed from $92,000 to $94,000 due to increasing mining difficulty. As miners respond to higher difficulty levels by boosting hash power, the marginal cost of mining each BTC rises. Historically, JPMorgan notes that Bitcoin’s mining cost has consistently acted as a price floor during market downturns.

With the spot price now nearly equal to production costs, miners are experiencing thin margins, reducing their incentive to sell at lower levels. Analysts argue this dynamic significantly limits further downside pressure, reinforcing $94,000 as a strong support zone.

Looking ahead, JPMorgan expects a sharp rebound. The firm projects Bitcoin could climb to around $170,000 within the next 6–12 months. This bullish outlook stems from Bitcoin’s improving volatility ratio relative to gold, which has fallen below 2.0. With Bitcoin currently exhibiting only 1.85 times the risk of gold, analysts argue the cryptocurrency is undervalued. To close the valuation gap, Bitcoin’s market cap would need to increase by roughly 60%–70%, aligning with a theoretical price target near $170,000.

Prominent voices in the crypto space echo this long-term optimism. MicroStrategy co-founder Michael Saylor recently forecasted Bitcoin surpassing gold’s market cap by 2035, while former Binance CEO Changpeng Zhao has also predicted Bitcoin will eventually overtake gold, even if the exact timeline remains uncertain.

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Key Takeaways 
What does MYX Finance’s 40% spike and pullback reveal about short-term trend strength?
It shows early bullish attempts, but MYX Finance must hold above the regression band to confirm a real reversal.

What do on-chain metrics show about MYX’s next directional move?
They show selective accumulation, cooling leverage, and liquidity pockets guiding whether MYX Finance targets 3.0–3.5 or drops to 2.3.

MYX Finance [MYX] delivered a dramatic intraday surge that pushed its price more than 40% higher toward the $3.5 region before sellers erased part of the move, sending it back toward the $2.4–$2.6 zone. 

Traders now study whether the surge reflected genuine absorption or just volatility fueled by short-lived speculation. 

MYX Finance currently trades around the upper boundary of its downward regression trend, a location often associated with early recovery attempts rather than confirmed breakouts. 

Meanwhile, liquidity clusters, Open Interest (OI) behavior, and exchange-driven flow patterns are shaping short-term expectations. 

Market participants closely track these metrics because they determine whether MYX Finance builds a sustained upward leg or slips back into deeper support territory.

MYX’s 40% spike: Breakout attempt or just a sharp fade?
MYX Finance gained significant momentum early today. Buyers pushed the price toward $3.5 with strong intent. Sellers then reacted quickly and created a sharp rejection.

MYX Finance dropped back toward the $2.5 zone soon after. The token now trades along the upper regression band with steady reactions.

Buyers defend this area because it represents a key turning point. At press time, the RSI sat near 44 with improving momentum. This reading supports a controlled recovery without overheating.

MYX Finance must hold above the upper band for a real reversal. A close below this region may weaken confidence around the structure. Strong inflows may anchor the token near this level.

Traders now watch for a confirmed breakout attempt toward the $3.0 region.

Source: TradingView

MYX Finance exchange flows shift!
At press time, Gate was dominating MYX Finance trading activity with impressive metrics. In the past 24 hours, the exchange recorded a volume of $689.07K and a net inflow of $27.96K, drawing significant market attention.

In contrast, Kraken reported a much lower volume of $43.7K and a net inflow of $11.73K. This stark difference highlights a strong concentration of trading activity on Gate, where many traders are choosing to enter and exit positions.

This concentrated flow suggests selective accumulation near key support levels. Because MYX Finance is highly sensitive to activity on Gate, such volume concentration often leads to sharper intraday price swings during periods of volatility.

Notably, buyers continue to open positions when prices pull back toward the upper band, reinforcing bullish sentiment.

This action helps MYX Finance maintain structure during uncertain conditions. Traders monitor Gate flow closely because each shift affects the short-term direction. The exchange still shapes momentum across lower timeframes.

MYX Finance Open Interest cools after hitting the $50M peak
OI in MYX Finance Futures markets climbed to nearly $50M during the surge, but later dropped to around $40M as traders began reducing leverage exposure. 

The earlier spike showed strong speculative appetite, while the retracement indicates that traders secured profits or stepped aside to manage risk after the heavy rejection near 3.5. 

Despite the decline, MYX still holds a sizable OI base compared to previous weeks, revealing ongoing speculative engagement. 

Traders now watch the 2.3–2.5 region because strong reactions from this area frequently encourage renewed long-side positioning. 

The current $40M OI level still provides enough speculative energy to fuel future volatility as MYX stabilizes and rebuilds momentum.

Key liquidity clusters to watch!
The 24-hour liquidation heatmap reveals dense liquidity pockets between 2.5 and 3.5, indicating zones where significantly leveraged MYX Finance positions cluster. 

Price often gravitates toward these zones because liquidations trigger rapid volatility once levels get tested.

A move back toward 3.0 brings MYX into a region filled with resting long liquidations, potentially amplifying movement if triggered. 

However, a dip toward 2.3 exposes deeper liquidity pools that could produce sharp reactions before any recovery attempt. 

Liquidity distribution therefore plays a central role in MYX Finance’s next major swing, and traders continuously examine which cluster offers the path of least resistance based on incoming momentum, exchange flows, and intraday volatility shifts.

To sum up, MYX reached a critical point after its 40% rally and sharp retracement. The token now stabilizes near the upper regression band, supported by selective inflows, improving RSI strength, and a still-active speculative base.

If buyers protect the 2.4–2.5 region while Gate continues leading accumulation behavior, MYX may attempt another climb toward the 3.0–3.5 liquidity cluster.

Institutional adoption of Bitcoin has become one of the most defining forces in the digital asset market, marking a new chapter in cryptocurrency's evolution. What was once a niche investment driven by retail traders has now become a strategic allocation for financial giants, sovereign funds, and corporate treasuries around the world.

Crypto markets in 2025 are stirring contrasting interpretations from industry voices, with Monad Foundation’s Kevin McCordic and venture capitalist Nic Carter offering sharply different reads on the ongoing downturn. Their opposing perspectives highlight the uncertainty facing investors as Bitcoin hovers around $95,234, up just 0.9% on the day and a modest 1.93% year to date—well behind the S&P 500 and Nasdaq Composite.

McCordic, who serves as director of growth at the Monad Foundation and is widely known on X as “intern,” argues that the current slump is far from disastrous. He notes that despite the discomfort, today’s pullback pales in comparison to the turmoil of 2022, when the industry watched credit lenders collapse, major exchanges unravel, and liquidity disappear across the market. According to him, the present environment looks more like a natural consolidation period following years of crisis rather than a signal of deeper structural weakness. McCordic maintains that crypto has become too interconnected with the global financial system to be derailed by routine volatility, adding that the sector remains fundamentally resilient.

Carter, general partner at Castle Island Ventures and cofounder of Coin Metrics, sees things differently. He argues that 2025 “feels worse” precisely because crypto is no longer the center of attention. Instead of drawing consistent capital inflows, the market appears to be drifting, with few compelling catalysts to re-energize buyers. Carter believes that familiar narratives—like the four-year market cycle or the hope for an inevitable “alt season”—no longer carry the weight they once did. In his view, meaningful gains will come only from teams shipping real products that deliver clear value to users, not from nostalgia-driven expectations.

These contrasting views point investors toward different strategies. If this is standard consolidation, patience and positioning for the next cyclical rebound may pay off. But if the slump reflects fading attention and a shortage of catalysts, growth will likely come from projects proving real-world adoption and generating revenue before broader capital returns to the sector.

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Bitcoin may be heading for its weakest stretch against gold in nearly seven years, according to Bloomberg Intelligence strategist Mike McGlone.

In a recent X post, McGlone cautioned that the Bitcoin-to-gold ratio, a key measure comparing the price of one Bitcoin to ounces of gold, appears fragile, threatening to break below the critical 25x support level.

McGlone described the flat performance between both assets over the past five years as a sign that Bitcoin’s dominance may be fading, calling the setup “an apex for risk assets.”

The ratio, which once peaked near 60x in late 2021, has since stagnated, suggesting that Bitcoin’s momentum has cooled, while gold has quietly strengthened.

Bloomberg charts show the ratio repeatedly rebounding off 25x throughout 2025, with each recovery losing strength. The latest test coincided with a rise in U.S. Treasury yields, the 10-year yield recently moved above 4%, and growing equity volatility, all of which tend to favor safer assets like gold.

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According to McGlone’s model, a breakdown below 25x could open the path toward 15x, effectively erasing nearly 60% of Bitcoin’s relative strength compared to the precious metal. He noted that this potential shift marks Bitcoin’s weakest position versus gold since 2018, framing it as a possible “inflection point for risk assets.”

Gold’s resilience amid easing monetary policy and rate cuts contrasts with Bitcoin’s muted response to the same conditions. McGlone argues that this divergence hints at waning institutional demand for Bitcoin and a reassertion of gold’s long-standing role as the ultimate safe haven.

Supporting his analysis, McGlone added in a separate post that gold’s parabolic rise in 2025 might be signaling the limits of U.S. equity market valuations. With the stock market’s total capitalization exceeding 40% of GDP, any sharp move in equities could echo across global asset classes, amplifying gold’s advantage.

Speculation about a possible BlackRock XRP ETF is rising again after the Canary XRPC ETF delivered one of the strongest ETF launches of the year. The new fund generated more than 58 million dollars in first-day volume and 245 million dollars in net inflows, outperforming hundreds of other ETF debuts in 2025.

Past Filing Sparks New QuestionsInterest in BlackRock resurged after analyst Jake Claver referenced the unusual iShares XRP Trust filing that briefly appeared on the Delaware Corporation Commission website in November 2023. Although BlackRock denied submitting the document and state officials later treated it as a potential fraudulent filing, the event left a lasting impression in the XRP community. Many supporters still believe BlackRock may have experimented with or tested the idea of an XRP trust.

Record Inflows Boost ExpectationsThe strong launch of the Canary XRPC ETF has renewed optimism around institutional demand for XRP. The funds’ first-day volume surpassed the debut of several major crypto ETFs, including top Solana products. Industry analysts who expected moderate interest were surprised by the level of institutional participation. 

Ripple CEO Brad Garlinghouse added to the momentum during the company’s Swell event, explaining that Ripple continues to work closely with traditional financial firms to bring digital assets into regulated markets.

With ETF inflows rising and XRP gaining more visibility among institutions, many investors believe it is only a matter of time before a firm like BlackRock considers entering the space. Whether that happens soon remains to be seen, but the growing demand suggests the discussion is far from over.

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

FAQsIs BlackRock planning to launch an XRP ETF?

There’s no confirmed BlackRock XRP ETF, but renewed interest comes from past filings and rising institutional demand for XRP products.

Why do people think a BlackRock XRP ETF is possible?

Hope persists from a 2023 iShares XRP Trust filing spotted in Delaware, which BlackRock denied. Recent successful XRP ETF launches have renewed this speculation.

Are crypto ETFs a good investment?

Crypto ETFs can offer a regulated way to gain exposure to digital assets. However, like all investments, they carry risk and you should assess your financial goals first.

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

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The Bitcoin price has ostensibly continued down in its bearish direction, which started in the second week of October. After slipping beneath the psychological $100,000 support, worries have surfaced among Bitcoin market participants regarding the broader market structure. Interestingly, the latest on-chain evaluation justifies this worry, as the downside bias for the Bitcoin price seems to be on the rise.

Binance Taker Imbalance Falls Into Negative Territory
In a Quicktake post on the CryptoQuant platform, on-chain research firm Arab Chain revealed an increase in sell-side momentum for Bitcoin on Binance, the world’s largest exchange by trading volume.

This revelation revolves around the BTC Taker Imbalance % metric, which tracks whether the market is dominated by aggressive buyers or sellers. Narrowing it down, this metric offers insights into taker activity on Binance. 

Because the metric works by revealing the percentage difference between taker buy volume and taker sell volume, readings with positive values suggest the dominance of buyers in the market. On the contrary, negative readings reveal a seller-dominated market. 

As Arab Chain reported, there has been an evident spike in the amount of selling pressure in recent hours. A Taker Imbalance % reading of -0.17%, which typically reflects continued bearish action, supports this observation.

Moreover, the research firm pointed out that there has been an evident difference between the selling and buying volumes recently. The Quicktake post revealed a record of $1.517 billion in selling volume against $1.058 billion dedicated to buying power, making it clear what party is currently winning this Bitcoin price tussle. 

Is $92,000 The Next Bitcoin Price Target?
What’s interesting is, the current seller-dominated market has caused the BTC price to continuously hover around the key $94,000 level. Arab Chain noted that each attempt by the Bitcoin price to rise has faced an even greater amount of sell resistance, dousing any serious bullish momentum. 

Source: CryptoQuant
The grey bars in the above chart suggest that this increasing bearish pressure might not just be a market correction; instead, it reflects a recurrent injection of sell-pressure, one which Arab Chain implied would eventually defeat the weaker buy-side liquidity at the current support.

In the likely scenario where more bearish momentum is injected to push the market to the downside, the next level, which could act as a cushion for price, lies around $92,000. 

If a significant amount of liquidity is not introduced to neutralize the dominance of Bitcoin’s sellers, the Bitcoin price could see an even deeper bearish correction. At press time, Bitcoin is valued at $96,241, reflecting a nearly 2% loss in the past day.

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

Cardano is once again in the spotlight, not because of a major price move, but due to an unexpected interaction between its founder and one of the most influential figures in crypto. Charles Hoskinson recently directed Coinbase CEO Brian Armstrong to take a look at the Midnight Network, a privacy-focused project within the Cardano ecosystem.

The Scaramuccis have revealed that they committed a $100 million investment to the Trump family-linked American Bitcoin despite their sour relationship with President Donald Trump. American Bitcoin is a mining company backed by the Trump family, and it has big ambitions for the crypto industry, specifically focusing its business on Bitcoin.

Bitcoin's trajectory strengthens as projections advance toward $250K, with Robert Kiyosaki signaling plans to buy more BTC as tightening supply, expanding adoption, and rising demand for resilient stores of value drive expectations for sustained upside ahead.

NEW YORK, Nov. 15, 2025 (GLOBE NEWSWIRE) --

WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of common stock of Avantor, Inc. (NYSE: AVTR) between March 5, 2024 and October 28, 2025, both dates inclusive (the “Class Period”), of the important December 29, 2025 lead plaintiff deadline.

SO WHAT: If you purchased Avantor 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 Avantor class action, go to https://rosenlegal.com/submit-form/?case_id=47303 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 29, 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, defendants misrepresented and/or failed to disclose that: (1) Avantor’s competitive positioning was weaker than defendants had publicly represented; (2) Avantor was experiencing negative effects from increased competition; and (3) as a result, defendants’ representations about Avantor’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Avantor class action, go to https://rosenlegal.com/submit-form/?case_id=47303 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.

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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

, /PRNewswire/ --

Why: Rosen Law Firm, a global investor rights law firm, reminds purchasers of common stock of Baxter International Inc. (NYSE: BAX) between February 23, 2022 and July 30, 2025, both dates inclusive (the "Class Period"), of the important December 15, 2025 lead plaintiff deadline.

So what: If you purchased Baxter 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 Baxter class action, go to https://rosenlegal.com/submit-form/?case_id=17664 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than December 15, 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 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 misled investors by failing to disclose that: (1) the Novum LVP suffered systemic defects that caused widespread malfunctions, including underinfusion, overinfusion, and complete non-delivery of fluids, which exposed patients to risks of serious injury or death; (2) Baxter was notified of multiple device malfunctions, injuries, and deaths from these defects; (3) Baxter's attempts to address these defects through customer alerts were inadequate remedial measures, when design flaws persisted and continued to cause serious harm to patients; (4) as a result, there was a heightened risk that customers would be instructed to take existing Novum LVPs out of service and that Baxter would completely pause all new sales of these pumps; and (5) based on the foregoing, Baxter's statements about the safety, efficacy, product rollout, customer feedback and sales prospects of the Novum LVPs were materially false and misleading. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Baxter class action, go to https://rosenlegal.com/submit-form/?case_id=17664  call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.

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

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

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

Contact Information:

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

SOURCE THE ROSEN LAW FIRM, P. A.

The fund has pared back two major leisure bets—raising a big question about where it sees real upside now.

On Friday, New York City-based HG Vora Capital Management disclosed it sold out its entire MGM Resorts International (MGM 1.07%) stake in the third quarter, reflecting an estimated $51.6 million net position change.

What HappenedAccording to a filing with the Securities and Exchange Commission released on Friday, HG Vora Capital Management sold its entire holding of MGM Resorts International (MGM 1.07%) during the third quarter. The fund liquidated all 1.5 million shares it previously held, erasing a position valued at an estimated $51.6 million.

What Else to KnowTop holdings after the filing: 

NASDAQ: PENN: $139.6 million (18.9% of AUM)NASDAQ: CZR: $94.6 million (12.8% of AUM)NASDAQ: DRVN: $90.2 million (12.2% of AUM)NYSE: FAF: $65.9 million (8.9% of AUM)NYSE: R: $63.2 million (8.6% of AUM)As of Friday, MGM shares were priced at $32.47, down 13% over the past year and lagging the S&P 500's nearly 15% return in the same period.

Company OverviewMetricValuePrice (as of market close Friday)$32.47Market capitalization$8.9 billionRevenue (TTM)$17.3 billionNet income (TTM)$69.7 millionCompany SnapshotMGM Resorts International is a leading global operator of casino, hotel, and entertainment resorts, with a diversified portfolio spanning the U.S. and Macau. The company’s strategy emphasizes integrated resort experiences, combining gaming, hospitality, and entertainment to drive recurring revenue across multiple customer segments. MGM’s scale, brand recognition, and presence in premier gaming markets provide a competitive advantage in capturing both traditional and digital gaming demand. Key customers include premium gaming patrons, leisure travelers, business and convention guests, and online gaming participants.

Foolish TakeHG Vora’s decision to unwind its MGM position—and trim United Parks in the same quarter—signals a shift in how the fund is assessing optionality across the leisure sector. HG Vora typically targets companies trading at steep discounts with multiple catalysts to unlock value. Offloading two high-profile entertainment holdings suggests the margin of safety has tightened or that better opportunities exist elsewhere within the firm’s deeply concentrated book.

MGM’s latest results help explain the recalibration. Consolidated net revenue rose just 2% year over year to $4.3 billion due primarily to MGM China, and profitability weakened: Adjusted EBITDA fell to $506 million from $574 million, and the company recorded a $285 million net loss driven by a $256 million goodwill impairment tied to its Empire City decision.

Meanwhile, Las Vegas Strip EBITDAR dropped 18%, and adjusted EPS declined to $0.24 from $0.54. Bright spots remain—MGM China posted 17% revenue growth, and BetMGM raised its full-year guidance—but the near-term earnings picture is mixed.

Ultimately, MGM still has durable assets and strong digital momentum, but catalyst timing has grown less certain. For value-focused investors, clarity Las Vegas demand and the momentum in China will be important to watch for this stock.

GlossaryExited position: When an investor sells all holdings of a particular security, reducing their ownership to zero.

13F AUM: Assets under management reported in a fund's quarterly SEC Form 13F, showing U.S.-listed equity holdings.

Liquidated: The process of selling off an investment position, often to exit a holding entirely.

Stake: The ownership interest or investment a fund or individual holds in a company.

Integrated resort: A property combining casino gaming, hotels, entertainment, dining, and other amenities under one operation.

iGaming: Online gambling activities, including casino games and sports betting, conducted over the internet.

Premium gaming patrons: High-value customers who wager large amounts at casinos, often receiving special services.

Quarterly report: A financial statement released every three months, detailing a company's performance and financial position.

Competitive advantage: A unique strength or position that allows a company to outperform its competitors.

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

November 15, 2025 5:00 PM EST | Source: The Rosen Law Firm PA
New York, New York--(Newsfile Corp. - November 15, 2025) - WHY: Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of shareholders of Western Alliance Bancorporation (NYSE: WAL) resulting from allegations that Western Alliance Bancorporation may have issued materially misleading business information to the investing public.

SO WHAT: If you purchased Western Alliance Bancorporation securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law Firm is preparing a class action seeking recovery of investor losses.

WHAT TO DO NEXT: To join the prospective class action, go to https://rosenlegal.com/submit-form/?case_id=46349 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.

WHAT IS THIS ABOUT: On October 16, 2025, Western Alliance Bancorporation disclosed that it had initiated a lawsuit against a borrower, Cantor Group V LLC, alleging fraud related to collateral loans.

On this news, Western Alliance Bancorporation's stock fell 10.88% on October 16, 2025.

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

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

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

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November 15, 2025 5:18 PM EST | Source: The Rosen Law Firm PA
New York, New York--(Newsfile Corp. - November 15, 2025) - WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of CarMax, Inc. (NYSE: KMX) between June 20, 2025 and November 5, 2025, both dates inclusive (the "Class Period") of the important January 2, 2026 lead plaintiff deadline in the securities class action first filed by the Firm.

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

WHAT TO DO NEXT: To join the CarMax class action, go to https://rosenlegal.com/submit-form/?case_id=47077 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than January 2, 2026. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. 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 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 90Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, defendants throughout the Class Period made materially false and/or misleading statements and/or failed to disclose that: (1) Defendants recklessly overstated CarMax's growth prospects when, in reality, its earlier growth in the 2026 fiscal year was a temporary benefit from customers buying cars due to speculation regarding tariffs; and (2) as a result, defendants' statements about CarMax's business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the CarMax class action, go to https://rosenlegal.com/submit-form/?case_id=47077 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 or 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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/274696

On the heels of Coinbase's (COIN) decision to reincorporate to Texas, George Tsilis examines the crypto-company's business model and latest earnings report. He walks through the competitive landscape for Coinbase and the headwinds facing crypto investors.

On November 14, 2025, SWAN Capital LLC reported buying an additional 35,964 shares of  Vanguard Whitehall Funds - Vanguard International Dividend Appreciation ETF (VIGI +0.17%), increasing its stake by approximately $3.19 million from the prior quarter.

What happenedAccording to a filing with the U.S. Securities and Exchange Commission dated November 14, 2025, SWAN Capital LLC increased its position in the Vanguard International Dividend Appreciation ETF by acquiring 35,964 additional shares during the third quarter. The stake was valued at $8.02 million at quarter-end, compared to $4.83 million in the previous period.

What else to knowSWAN Capital’s purchase brought VIGI to 3.25% of its reportable assets, based on $246.64 million in 13F AUM as of September 30, 2025Top holdings after the filing:  NASDAQ:VYMI: $24.54 million (9.95% of AUM)NASDAQ:VCLT: $20.36 million (8.26% of AUM)NYSEMKT:VNQ: $16.74 million (6.79% of AUM)NYSEMKT:VGT: $13.88 million (5.63% of AUM)NASDAQ:VTIP: $11.53 million (4.67% of AUM)As of November 14, 2025, shares of VIGI were priced at $90.51, up 12.24% over the past year, underperforming the S&P 500 by 0.48 percentage pointsVIGI’s trailing twelve-month dividend yield was 1.87% as of November 15, 2025ETF overviewMetricValueAUMN/APrice (as of market close 11/14/25)$90.51Dividend yield1.87%1-year total return12.24%ETF snapshotInvestment strategy focuses on tracking an index of high-quality international companies (excluding the U.S.) with a consistent record of growing dividends.Portfolio is composed of developed and emerging market equities, with holdings weighted to replicate the underlying index composition.Structured as a passively managed ETF, offering broad international diversification.The Vanguard International Dividend Appreciation ETF (VIGI) provides investors with targeted exposure to non-U.S. companies that have demonstrated a strong commitment to increasing dividends over time. The fund seeks to replicate its benchmark index by holding a diversified basket of international equities in similar proportions to the index weights.

VIGI has a market capitalization of $9.22 billion as of November 15, 2025.

Foolish takeSWAN Capital is a big fan of Vanguard ETFs. At the end of the third quarter, its six largest holdings were from Vanguard. The Vanguard International Dividend Appreciation ETF wasn't in its top five, but it's up there at 3.3% of the overall portfolio.

SWAN Capital's focus on Vanguard funds has served the asset manager well. Over the past two years, its assets under management nearly doubled to reach $247 million.

With an ultra-low 0.1% expense ratio, nearly all of the gains produced by stocks in the Vanguard International Dividend Appreciation ETF's portfolio could end up in your pocket.

The Vanguard International Dividend Appreciation ETF is well diversified. Its top five holdings include two financial firms, a drugmaker, a food and beverage company, and an enterprise software business.

The quarterly dividends that the Vanguard International Dividend Appreciation ETF distributes can be a bit lumpy because many international businesses don't adhere to the quarterly payouts that U.S. investors are used to. If payments over the next 12 months fall in line with the previous 12 months, investors who buy at recent prices could receive a 1.9% yield.

GlossaryETF (Exchange-Traded Fund): An investment fund traded on stock exchanges, holding a diversified portfolio of assets.
Dividend yield: Annual dividends paid by an investment, expressed as a percentage of its current price.
Trailing twelve-month: Refers to data from the most recent 12 consecutive months, often used for performance metrics.
Quarter-over-quarter: Comparison between one fiscal quarter and the previous quarter.
Assets under management (AUM): The total market value of assets an investment manager oversees on behalf of clients.
Reportable assets: Assets that must be disclosed in regulatory filings, such as those reported on SEC Form 13F.
Index: A benchmark representing a group of securities, used to measure market or sector performance.
Passively managed: Investment strategy aiming to replicate the performance of a benchmark index, rather than actively selecting securities.
Emerging market equities: Stocks from companies based in developing countries with rapidly growing economies.
Developed market equities: Stocks from companies in advanced, established economies.
International diversification: Investment strategy spreading assets across multiple countries to reduce risk.
Benchmark: A standard or index against which the performance of an investment fund is measured.

There is evidence to suggest Lululemon's brand is doing better than feared.

How a story is framed can dramatically change how it's perceived and received.

For example, I can tell you about a consumer brand with strong and stable popularity. It enjoys profit margins better than its peers', sales are at an all-time high, and management continues to eye a large opportunity to expand its presence worldwide. That all sounds exciting.

But if I tell you about a consumer brand that's facing competitive pressures from upstart brands, uncertainty due to disruptions in global trade, weakness in its largest market, and modest single-digit growth, investors might have second thoughts.

Image source: Getty Images.

In both cases, I'm describing athletic apparel company Lululemon (LULU +0.60%). And whether the stock is a buy today has a lot to do with how one balances these two opposing narratives.

Furthermore, Lululemon stock is trading at a once-in-a-decade valuation -- less than 12 times earnings.

Data by YCharts.

That's a dirt-cheap entry point for the stock if things go right from here. That's why it's worth taking a closer look at Lululemon, despite the fact shares have lost more than half their value year to date.

Why is Lululemon stock performing poorly?
I don't wish to sugarcoat things: Lululemon has reported some troubling trends in recent quarters. The biggest problem is the company's slowing growth rate.

In its fiscal 2025 second quarter, revenue grew just 7% year over year to $2.5 billion. And for the full year, management's latest guidance implies a paltry 2% to 4% growth rate.

The slowing growth is stoking fears among investors that competitive pressures are becoming too much for Lululemon. For example, up-and-coming brand Vuori reportedly grew more than 20% in 2024 compared with just 10% net revenue growth for Lululemon during its fiscal 2024.

In Q2, net revenues in Lululemon's biggest market -- the Americas -- were only up 1% year over year, and comparable sales fell 4%. Sales in China were fortunately a bright spot, up 25%. But if sales are down in the company's core market, perhaps it's just a matter of time before the competition impacts its international sales as well.

To go along with slumping revenue growth, Lululemon's inventory levels have been increasing as you can see below. This is a red flag for apparel companies.

Data by YCharts.

The fear is that Lululemon will struggle to sell through its existing inventory, which will erode profitability. The stock may look cheap today trading at 12 times earnings, but if earnings decline as management expects in fiscal 2025, that bargain valuation is not quite as attractive.

Why Lululemon could perform better
Despite these struggles, I believe it's premature to say Lululemon is buckling to competitive pressure. Comparably, a platform providing workplace culture and compensation data, tracks companies' net promoter score (NPS) -- a measure of customer loyalty and satisfaction. As of this writing, Lululemon has a strong NPS of 41, which hasn't gone down a single point over the last year.

The NPS data shows that Lululemon's popularity is highest among consumers who have used its products for five to 10 years. This suggests the existing customer base is most loyal to the brand, which could help support profit margins. But the NPS data also shows Lululemon is least popular with customers of one year or less, suggesting the company is struggling to win over new shoppers.

Ideally, a business would have both loyal customers and a growing base. However, if only one is possible, I'd argue it's better to keep the loyal customers. There will always be opportunities to win new customers, but old customers are hard to win back once they leave.

In short, Lululemon has a strong foundation with longtime customers who love its products. Its struggle to attract new buyers is a headwind to be sure, but the business isn't collapsing -- an important point for long-term investors.

This conclusion is further supported by Lululemon's profit margins. Both its gross margin and operating margin are still above their five-year averages. Lululemon's business is more resilient than the stock's trading this year would have you believe.

Data by YCharts.

Many investors may consider Lululemon a turnaround play after its 55% sell-off in 2025, but this is far from a company in crisis. Lululemon can still prove to be a good long-term buy for those willing to give management the time it needs to build on the company's international growth while reigniting demand in its home market.

'The Big Money Show' panel discusses Warren Buffett's retirement from Berkshire Hathaway. #foxbusiness #bigmoneyshow

November 15, 2025 2:06 PM EST | Source: The Rosen Law Firm PA
New York, New York--(Newsfile Corp. - November 15, 2025) - WHY: Rosen Law Firm, a global investor rights law firm, announces a class action lawsuit on behalf of purchasers of securities of Stride, Inc. (NYSE: LRN) between October 22, 2024 and October 28, 2025, both dates inclusive (the "Class Period"). A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than January 12, 2026.

SO WHAT: If you purchased Stride, Inc. a securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the Stride, Inc. are class action, go to https://rosenlegal.com/submit-form/?case_id=30689 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than January 12, 2026. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm 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, during the Class Period, defendants made misleading statements and omissions regarding Stride's products and services to public and private schools, school district, and charter boards. Throughout the Class Period, Stride represented to investors that "[t]hese products and services, spanning curriculum, systems, instruction, and support services are designed to help learners of all ages reach their full potential through inspired teaching and personalized learning." Unbeknownst to investors, Stride was inflating enrollment numbers, cutting staff costs beyond required statutory limits, ignoring compliance requirements, and losing existing and potential enrollments. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Stride, Inc. class action, go to https://rosenlegal.com/submit-form/?case_id=30689 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.

-------------------------------

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/274552

Austin, Nov. 15, 2025 (GLOBE NEWSWIRE) -- This article is for informational purposes only. It is not medical advice. Always speak with a licensed professional before using supplements or financial products. If you purchase through links in this article, a commission might be earned at no extra cost to you.

In a recent ranking of the best PayPal casinos in the U.S., Legendz is the one name that has stood high above the rest. This has seen the casino set new standards in the PayPal casinos sector. The ranking of Legendz as the leading PayPal casino comes amid a surge in demand for a platform that offers speed, security, and convenience when using PayPal as a payment method.

In the U.S., PayPal casinos are steadily gaining mainstream popularity as a majority of players prioritize smooth transactions and redemptions, while maintaining high security standards. Catching this early on, Legendz was quick to implement all the desirable features that players and several stakeholders hold in high regard. This has not gone unnoticed, as CasinoTop10.net has also rated the casino among the best PayPal casinos in the U.S.

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To learn more about Legendz Casino, visit the official website here.

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To learn more about Legendz’ game library, visit the official website here.

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As a platform ranked as the leading PayPal casino, Legendz Casino has demonstrated its excellence in rewarding its players. Examining its platform, Legendz provides its users with a comprehensive range of rewards that keep the gaming experience engaging. Aside from that, the incentives help extend the gameplay, providing players with more opportunities to enjoy their favorite casino games.

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Today’s digital world has made mobile devices a crucial part of proper functioning. With that, PayPal casinos have also not been left behind. As a result, platforms such as Legendz Casino have optimized their platforms for mobile use, making it accessible via smartphones, tablets, and laptops as well. By doing so, the casino enables players to enjoy their favorite games from anywhere, at any time.

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Some of the features may be compromised with mobile usage, but that is not the case. Legendz Casino ensured that the features, arrangements, and speed of operation are all maintained, if not improved, for the better in the casino. Due to these upgrades, the casino impressed a large number of players, as well as top stakeholders such as CasinoTop10, who were at the forefront to commend it.

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Legendz Casino prides itself on being a leading PayPal casino that prioritizes its users' well-being. Recognizing that issues may arise at any time during platform use, the casino provides multiple channels for players to contact customer support. With options such as phone, email, and live chat available, players can choose one that aligns with their level of convenience and urgency.

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In addition to the solid team behind its customer support, Legendz Casino also features an FAQ section, along with self-help resources, all of which can be used to provide answers to common issues. This comprehensive structure makes Legendz Casino a worthy contender for the title of leading PayPal casino in the U.S.

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Medicus Pharma (NASDAQ:MDCX) CEO Raza Bokhari talked with Proactive about the latest expansion of the company's Phase 2 clinical trial for Skinject, its lead noninvasive therapy for basal cell carcinoma.

The company recently received approval from the UK Regulatory Authority to include UK sites in the ongoing Skinject 003 study.

Bokhari explained that this development allows Medicus Pharma to expand its clinical footprint without launching a new trial, as was required in the Middle East.

The expansion brings additional geographical diversity into the pivotal trial without incurring the costs of a separate study.

The Skinject 003 trial initially launched in the summer of 2024 across nine U.S. sites, with a separate 36-patient study underway in the Middle East through Cleveland Clinic Abu Dhabi.

Bokhari also noted that the company has completed a Type-C meeting with the FDA and anticipates a Fast-Track designation following its upcoming end-of-Phase 2 meeting in Q1 2025.

Proactive: All right, welcome back inside our Proactive newsroom. And joining me now is Dr. Raza Bokhari. He is the CEO of Medicus Pharma. And Dr. Bokhari, nice to see you again. How are you?

Raza Bokhari: I'm doing really well. Thank you for having me back on your program.

The company had some news today, talking about getting UK approval to expand your phase 2 trial in dealing with noninvasive treatment of basal cell carcinoma of the skin. Can you remind everyone what’s going on in the UK and what this expansion means?

I really appreciate this opportunity to provide an update. We continue to pick up momentum and move forward in our clinical development program of our lead asset, Skinject, which is a novel, noninvasive treatment for non-melanoma skin diseases, particularly basal cell carcinoma of the skin. We initiated our phase 2 study back in the summer of 2024 at nine sites across the United States in a 90-patient study.

We’ve also been expanding the global footprint of our study. A separate 36-patient study began recruiting earlier this year in the Middle East with Cleveland Clinic Abu Dhabi. Today, we also announced that we now have a nod from the UK Regulatory Authority to expand this study into the United Kingdom. So we are building a global footprint. Basal cell carcinoma is not just an American problem — it's a global problem. Wherever there is ultraviolet radiation and exposed skin surface, that’s a breeding ground. We believe our work is being recognized by regulatory bodies. We’re very bullish that we will have positive findings and will move into a pivotal study.

What does the UK expansion mean? Will that just mean more patients or more sites or both?

It's actually a little more efficient. In the UK, our existing study — the Skinject 003 study — is FDA-approved and being carried out in nine U.S. sites. We can now add at least one UK site to that same 90-patient study, so it's not a separate trial. That makes it a more cost-effective and efficient way to bring in a patient pool from relevant geographic locations, unlike in the Middle East where we had to start a new 36-patient study.

So, as we advance, we’re also becoming more experienced and are running the clinical study in a more efficient and cost-effective manner.

That ability to apply learnings from other markets and do this cost-effectively — that's really important in the development process.

It is indeed very important. We are setting the stage following a Type-C meeting that we completed with the FDA toward the end of Q3. We now have a very clear pathway to registration. We’re also preparing for an end-of-phase-two meeting in Q1 next year, and we’re confident we will qualify for a Fast-Track designation. That meeting will provide clarity on the pivotal design.

Laying this groundwork — in the Middle East, UK, and U.S. — will go a long way in having a robust pivotal study design and executing on it. So this couldn’t be more positive for the future outlook of the company.

Quotes have been lightly edited for clarity and style

Selling pressure came for tech this week, with Softbank selling out of Nvidia (NVDA), Michael Burry shorting tech, and fears around an AI bubble. David Dietze covers the fears roiling the market and says all eyes are on Nvidia (NVDA) earnings next week.

A fund known for squeezing value out of troubled companies just made a sharp pivot on one of its biggest bets.

New York City-based HG Vora Capital Management disclosed a significant reduction in its United Parks & Resorts Inc. (PRKS 3.50%) stake, cutting nearly 1.2 million shares for an estimated $53.5 million, per an SEC filing on Friday.

What HappenedAccording to a filing with the Securities and Exchange Commission released Friday, HG Vora Capital Management sold nearly 1.2 million shares of United Parks & Resorts Inc. (PRKS 3.50%) during the third quarter. The transaction reduced the position’s quarter-end value to $22 million, with the stake now totaling 425,000 shares.

What Else to KnowHG Vora's United Parks & Resorts Inc. position now represents 3% of 13F AUM, down from 11% in the prior quarter.

Top holdings after the filing: 

NASDAQ: PENN: $139.6 million (18.9% of AUM)NASDAQ: CZR: $94.6 million (12.8% of AUM)NASDAQ: DRVN: $90.2 million (12.2% of AUM)NYSE: FAF: $65.8 million (8.9% of AUM)NYSE: R: $63.2 million (8.6% of AUM)As of Friday's market close, shares of United Parks & Resorts Inc. were priced at $31.97, down 44% over the past year and far underperforming the S&P 500, which has climbed nearly 15%.

Company OverviewMetricValueRevenue (TTM)$1.7 billionNet Income (TTM)$181.2 millionMarket Capitalization$1.7 billionPrice (as of market close Friday)$31.97Company SnapshotUnited Parks & Resorts Inc. is a leading U.S. theme park operator with a diversified portfolio of well-known brands and locations. The company operates a portfolio of twelve theme parks under the SeaWorld, Busch Gardens, Aquatica, Discovery Cove, Water Country USA, Adventure Island, and Sesame Place brands, offering marine life exhibits, rides, shows, and water attractions. Its focus on experiential entertainment and established presence in key tourism markets supports consistent guest engagement and revenue generation.

Foolish TakeHG Vora’s move matters because it signals when even a deep-value specialist decides a discount no longer compensates for a stock's trajectory. The fund—whose strategy targets cash-generating businesses with multiple paths to unlock value—typically builds concentrated positions in out-of-favor consumer and leisure names, according to its website. So shrinking United Parks & Resorts from 11% to 3% of AUM suggests conviction might have meaningfully waned.

To help illustrate: Third-quarter revenue fell 6.2% to $511.9 million, and attendance dropped 3.4% to 6.8 million guests—reflecting a decrease of about 240,000 guests year over year. Net income, meanwhile, declined 25% to $89.3 million, and free cash flow also weakened. Management cited an unfavorable holiday calendar, weather disruptions, and a reversal in international visitation—factors that dragged per-capita revenue and highlight the sensitivity of theme park economics to small shifts in demand. Shares have cratered 44% over the past year, even as the S&P 500 gained nearly 15%.

Within HG Vora’s portfolio—dominated by higher-conviction holdings like Penn Entertainment, Caesars, and Driven Brands—United Parks had become an increasingly tough fit for the firm’s “multiple paths to value” playbook.

United Parks' business might not be broken, but its margin of safety has narrowed. Execution needs to improve, demand must stabilize, and cost efficiencies must show up before deep-value investors regain confidence.

GlossaryAUM (Assets Under Management): The total market value of investments managed by a fund or investment firm.
13F: A quarterly SEC filing required from institutional investment managers to disclose their equity holdings.
Reportable assets: Investments that must be disclosed in regulatory filings, such as those reported on Form 13F.
Stake: The ownership interest or shareholding an investor holds in a company.
Top holdings: The largest investments in a fund’s portfolio, typically by market value.
Quarter-end value: The value of an investment position at the end of a fiscal quarter.
Position: The amount of a particular security or asset owned by an investor or fund.
Underperforming: Delivering returns that are lower than a benchmark or comparable investments.
TTM: The 12-month period ending with the most recent quarterly report.

November 15, 2025 4:34 PM EST | Source: The Rosen Law Firm PA
New York, New York--(Newsfile Corp. - November 15, 2025) - WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of Marex Group plc (NASDAQ: MRX) between May 16, 2024 and August 5, 2025, both dates inclusive (the "Class Period"), of the important December 8, 2025 lead plaintiff deadline.

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

WHAT TO DO NEXT: To join the Marex class action, go to https://rosenlegal.com/submit-form/?case_id=43100 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, during the Class Period, defendants made materially false and/or misleading statements and/or failed to disclose that: (1) Marex sold over-the-counter financial instruments to itself; (2) Marex had inconsistencies in its financial statements between its subsidiaries and related parties, including as to intercompany receivables and loans; (3) as a result of the foregoing, Marex's financial statements could not be relied upon; and (4) as a result of the foregoing, defendants' positive statements about Marex's business, operations, and prospects were materially misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Marex class action, go to https://rosenlegal.com/submit-form/?case_id=43100 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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Attorney Advertising. Prior results do not guarantee a similar outcome.

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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/274541