Market Signal Briefing

Dutch Bros still has many years of strong growth ahead of it.

If you are looking for a great growth stock outside of the area of artificial intelligence (AI), Dutch Bros (BROS -0.68%) should be at the top of your list. The biggest driver for most successful restaurant chains is aggressive but smart store expansion. That is how McDonald's, Chipotle, and Starbucks became national powerhouses, and Dutch Bros looks like it is setting itself up to follow that same playbook.

The company just recently passed the 1,000-store mark, yet it operates in only 20 states, mostly clustered in the western U.S. Its largest markets are Texas, California, and Oregon, but even in these markets, there is still a huge amount of white space left to go after. The company is targeting 2,029 shops by 2029, with a long-term goal of 7,000 locations nationwide, which gives it one of the longest runways for growth in the restaurant sector.

Image source: Getty Images

The economics of its shops are what make this expansion strategy so compelling. Dutch Bros has focused on small, efficient stores, most between 800 and 1,000 square feet, with a walk-up window and double drive-thru lanes. The stores are relatively inexpensive to build and have strong cash-on-cash returns that allow the company to reinvest back into growth without stressing its balance sheet.

Last year, Dutch Bros opened 151 shops, and it plans to open at least 160 more this year. At the same time, the company is generating strong operating cash flow, which it is using to fund its expansion while still being free cash flow-positive. This is the kind of discipline you want to see in a retail expansion story.

More than an expansion story
But expansion alone does not make a great growth stock. Dutch Bros has been delivering strong same-store sales growth as well, with systemwide comps up 6.1% last quarter and transactions climbing 3.7%. Company-owned stores are doing even better, with comps up 7.8% and transaction growth of 5.9%, which shows that the brand continues to resonate and gain traction even as it adds new units. A big driver here has been its push into mobile ordering, which is now available at most of its shops and already accounts for more than 11.5% of transactions. This is still very early, and mobile ordering tied into its rewards program should help build customer loyalty and frequency over time.

The company's biggest untapped opportunity, though, is food. Dutch Bros currently gets less than 2% of its sales from food, compared to nearly 20% for Starbucks, which means it is essentially leaving money on the table. The company has been testing hot food items in select locations, and the early results have been encouraging, with higher ticket and transaction growth, particularly during breakfast hours. Management has said that rolling out a food menu at scale will take time because it requires adding new equipment, but even modest success here could add meaningfully to revenue over the next several years.

Dutch Bros is also getting more sophisticated with its marketing, leaning into paid advertising to boost brand awareness. It continues to innovate with new drinks that drive traffic and repeat visits, and it is building a loyal following with its rewards program. The combination of rapid but measured store growth and new initiatives like food and digital ordering is a powerful one.

A solid stock to buy
For growth-focused investors, Dutch Bros looks like one of the most compelling opportunities in not just the restaurant space but the entire market. The company has a long runway to expand nationally and is already showing strong store-level economics with average unit volumes (AUVs), or sales per store, of over $2 million. At the same time, it has several levers to drive same-store sales higher over time.

If you have $1,000 to put to work right now that isn't needed to pay month bills or reduce short-term debt, and you want a stock with years of strong potential growth ahead, Dutch Bros deserves serious consideration.

Geoffrey Seiler has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Chipotle Mexican Grill and Starbucks. The Motley Fool recommends Dutch Bros and recommends the following options: short September 2025 $60 calls on Chipotle Mexican Grill. The Motley Fool has a disclosure policy.

Shopify is up by nearly 90% over the last year, but a rising valuation could put its growth in jeopardy.

At current levels, investors may wonder what to make of Shopify (SHOP -2.25%) stock. It has increased by around 85% over the last year, but more than half of those gains occurred in 2024. More recently, the stock's rise seems to have slowed.

Additionally, Shopify is within 15% of its all-time high from 2021, and that has led to an elevated valuation. Knowing that, is the party finally over for Shopify, or should investors stay the course?

Image source: Getty Images.

The state of Shopify today
At first glance, Shopify's stock price could appear difficult to justify. For one, its P/E ratio of 83 seems elevated, even for a growth stock.

Moreover, it operates in a highly competitive industry. That is particularly concerning since one of its peers is Amazon, which also sells a wide array of products and options for free shipping. Additionally, Amazon offers a sales platform for third-party sellers. Unlike Shopify, Amazon compels these merchants to share a portion of their revenue with them, but the power of its sales platform can put Shopify at a competitive disadvantage.

Despite that competitive situation, Oberlo estimates Shopify has a market share of 28% of online stores in the U.S., making it the country's largest e-commerce platform. It also claims an estimated 10% of all global online stores.

Furthermore, according to Grand View Research, the compound annual growth rate (CAGR) is 19% through 2030 for the e-commerce industry. That rate of increase should mitigate some of the competitive concerns.

Shopify has also shown it can course correct when necessary, as shown by its abandonment of an expensive plan to extend its ecosystem into logistics. The cost of building a logistics network resulted in losses that caused its stock to fall by as much as 87% earlier in the decade. Now, with its focus exclusively back on software, Shopify stock has moved higher.

Shopify's financials and valuation metrics
Indeed, its software has given it a competitive advantage. Despite intense competition, Shopify's site has stood out by allowing merchants to tailor their platforms without coding knowledge. Moreover, it emphasizes speedy transactions, reducing the likelihood that a seller will lose business from a poorly functioning site.

Also, notwithstanding its failures in logistics, Shopify has developed an ecosystem that can benefit its merchants. Aside from site operations and maintenance, Shopify can perform tasks such as email marketing, payments, inventory management, and raising capital. This makes site management easier for sellers while giving Shopify additional revenue sources.

Regarding revenue, one could argue that the company's financial performance justifies its valuation. In the first half of 2025, the $5 billion in revenue it generated grew 29% compared to the same period in 2024. During that time, it limited its expense growth to 18%. That helped it turn profitable in the first half of the year, and Shopify earned $224 million in net income during that period, up from a loss of $102 million in the previous year.

This turn to profitability for the first half of the year could help make the aforementioned 83 P/E ratio more palatable to investors. Nonetheless, the company's price-to-sales (P/S) ratio of 19 confirms this is an expensive stock. That high valuation may make the near-term future of the stock's direction less clear, especially if investors begin questioning whether Shopify can justify its current share price.

Is the party over for Shopify stock?
Given current conditions, the party is unlikely to be over for Shopify, but investors could become less celebratory in the near term.

Despite heavy competition, Shopify has built a competitive advantage by offering a versatile platform and extensive ecosystem. That allowed it to become the United States' No. 1 platform, and with the industry growing rapidly, Shopify is well positioned to capture a significant portion of that growth.

Indeed, the 19 P/S ratio could indicate the stock price is slightly ahead of fundamentals. While that could mean that the party becomes less lively for a time, long-term investors should expect to celebrate future stock gains as more merchants choose to operate within Shopify's ecosystem.

Will Healy has positions in Shopify. The Motley Fool has positions in and recommends Amazon and Shopify. The Motley Fool has a disclosure policy.

A historically inexpensive trillion-dollar business has the necessary catalysts to leapfrog the likes of Nvidia, Apple, and Microsoft by the turn of the decade.

For much of the last 16 years, the stock market has been unstoppable. With the exception of the five-week COVID-19 crash in February-March 2020, and the roughly nine-month bear market in 2022, the bulls have been in firm control on Wall Street.

The catalyst for this ongoing outperformance primarily rests with Wall Street's trillion-dollar businesses. Think Nvidia (NVDA 0.27%) and Apple, as well as newer trillion-dollar club members Broadcom and Taiwan Semiconductor Manufacturing, which is also known as TSMC.

All told, just 11 publicly traded companies have ever reached a $1 trillion market cap, not accounting for the effects of inflation, and 10 trade on U.S. exchanges. This includes all members of the "Magnificent Seven," along with Broadcom, TSMC, and billionaire Warren Buffett's company, Berkshire Hathaway.

Image source: Getty Images.

While Nvidia appears to have the inside path to retaining its current title as Wall Street's most valuable public company by the turn of the decade, another Mag Seven member is ideally positioned to dethrone Nvidia and leapfrog the likes of Apple and Microsoft along the way.

Despite its AI dominance, Nvidia's spot atop the trillion-dollar pedestal is far from secure
As of the closing bell on Sept. 24, artificial intelligence (AI) titan Nvidia clocked in with a market cap north of $4.3 trillion. It's the first public company to have reached the $4 trillion mark, and is believed to have a chance to surpass a $6 trillion valuation, based on the price targets of Wall Street's most optimistic analysts.

This optimism stems from Nvidia's dominant position as the leader in AI graphics processing units (GPUs) deployed in enterprise data centers. Three generations of advanced AI chips -- Hopper (H100), Blackwell, and now Blackwell Ultra -- have enjoyed insatiable demand and extensive order backlogs.

Aside from clear-cut compute advantages, Nvidia's AI hardware benefits from a persistent lack of AI GPU supply. As long as enterprise demand overwhelms available hardware, Nvidia is going to have no trouble charging a premium for its GPUs and netting a gross margin in excess of 70%.

While these competitive edges would imply that Nvidia's spot atop the trillion-dollar pedestal is secure, historical precedent would beg to differ.

One of the prime threats to Wall Street's largest public company is that every next-big-thing trend dating back more than three decades has eventually navigated its way through a bubble-bursting event early in its expansion. This is to say that investors consistently overestimate the early adoption and real-world utility of next-big-thing innovations. Though AI has undeniable long-term applications, most businesses are nowhere close to optimizing these solutions at present, or have yet to net a positive return on their AI investments.

Competition is something that can't be ignored, either. Even with external competitors lagging Nvidia in compute ability, there's a very real possibility of Wall Street's AI darling losing out on valuable data center real estate and/or being undermined by delayed AI GPU upgrade cycles.

Many of Nvidia's largest customers by net sales are developing AI GPUs to deploy in their data centers. Though these chips won't be competing with Nvidia's hardware externally, they're considerably cheaper to build and more readily accessible. It's a recipe for Nvidia's competitive edge to dwindle in the coming years, and for Wall Street's AI kingpin to cede its title as the most valuable public company.

Image source: Amazon.

This will be Wall Street's most valuable public company come 2030
Although Apple or Microsoft would seem to be logical choices to reclaim the top spot that both companies have previously held, dual-industry leader Amazon (AMZN 0.78%) is the trillion-dollar stock that looks to have the best chance to become Wall Street's most valuable company by 2030.

The operating segment that typically introduces consumers to Amazon is its online marketplace. According to estimates from Analyzify, Amazon's e-commerce segment accounts for a 37.6% share of U.S. online retail sales. Amazon's spot as the leading e-commerce giant isn't threatened -- although its operating margin associated with online retail sales tends to be razor thin.

While Amazon's retail operations provide a face for the company, it's a trio of considerably higher-margin ancillary segments that'll be responsible for bulking up the company's operating cash flow in the years to come.

Nothing has more bearing on Amazon's long-term success than cloud infrastructure platform Amazon Web Services (AWS). Tech analysis firm Canalys pegged its share of worldwide cloud infrastructure spend at 32% during the second quarter, which is nearly as much as Microsoft's Azure and Alphabet's Google Cloud on a combined basis.

AWS has been growing by a high-teens percentage on a year-over-year basis, excluding currency movements. The thinking here is that the inclusion of generative AI solutions and large language model capabilities for AWS clients will only enhance the growth rate for AWS.

As of the June-ended quarter, AWS was pacing more than $123 billion in annual run-rate revenue. Most importantly, AWS is responsible for almost 58% of Amazon's operating income through the first half of 2025 despite accounting for less than 19% of net sales. Even if an AI bubble forms and bursts, application providers like AWS can weather the storm.

The other pieces of the puzzle for Amazon are advertising services and subscription services. When you're drawing billions of people to your site monthly, it's not difficult to command exceptional ad-pricing power.

It also doesn't hurt that Amazon has landed exclusive streaming partnerships with the National Football League and National Basketball Association. When coupled with e-commerce shipping perks and exclusive shopping events, Amazon has plenty of pricing power with its Prime subscription.

Finally, Amazon is historically inexpensive. From 2010 to 2019, Amazon closed out each year between 23 and 37 times trailing-12-month cash flow. Based on Wall Street's consensus, Amazon's cash flow per share is forecast to grow from a reported $11.04 in 2024 to $27.52 in 2029.

In other words, Amazon is valued at only 8 times projected cash flow in 2029, which means it can reasonably add $2.5 trillion to $4 trillion in market value from here and still be trading at a significant discount to its average cash flow multiple during the 2010s.

Sean Williams has positions in Alphabet and Amazon. The Motley Fool has positions in and recommends Alphabet, Amazon, Apple, Berkshire Hathaway, Microsoft, Nvidia, and Taiwan Semiconductor Manufacturing. The Motley Fool recommends Broadcom and recommends the following options: long January 2026 $395 calls on Microsoft and short January 2026 $405 calls on Microsoft. The Motley Fool has a disclosure policy.

SummaryCharter Communications shares have experienced a significant price drop, offering a compelling investment opportunity amid industry disruption fears.The company’s competitive edge lies in its dominant regional market position, cost-effective DOCSIS 4.0 upgrades, and strategic service bundling to reduce churn.The announced Cox Communications merger would solidify Charter’s leadership, while fears over fiber and FWA competition are likely overstated due to cost and capacity limits.I initiate coverage on the firm with a Buy rating, citing solid fundamentals, an attractive valuation, as well as underestimated growth potential not priced into shares. style-photography/iStock via Getty Images

Introduction Shares of cable network giant Charter Communications (NASDAQ:CHTR) have had a rough ride these last 5 years, decreasing 56% in value over the period. The narrative is clear: traditional cable networks are a thing of the past, with

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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At the same time, OPEC+ fell 500,000 barrels per day short of its pledged production increases between April and August. This shortfall—roughly 0.5% of global oil demand—has sustained upward pressure on prices. With most non-core producers operating at or near capacity, the group’s ability to respond with additional supply remains constrained.

Kurdistan Crude Return Could Limit Gains — But Not Reverse Trend
Some bearish relief may come from the partial return of Kurdish crude. Iraq’s semi-autonomous region is poised to resume exports through the Kirkuk-Ceyhan pipeline, with initial volumes expected around 180,000–190,000 barrels per day. However, ongoing payment disputes are delaying full-scale shipments, and at least one major producer has held back exports.

Unless volumes ramp quickly, the restart is unlikely to offset the broader supply-side constraints. For now, the return of some Kurdish barrels serves more as a cap on excessive upside than a driver of reversal.

Fed Caution and Strong GDP Data Slow Rate-Cut Momentum
On the macro front, a hotter-than-expected U.S. GDP revision to 3.8% has tempered expectations for additional Federal Reserve rate cuts. While the Fed delivered a 25-basis-point cut last week, the strength in economic data may delay further easing.

A slower rate-cut path could support the U.S. dollar and weigh modestly on crude, but so far, these factors remain secondary to physical supply constraints.

Weekly Technical Outlook: Upside Momentum Targets $69.34 and Beyond

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

The information contained herein is for informational purposes only. Nothing in this article should be taken as a solicitation to purchase or sell securities. Before buying or selling shares, you should do your own research and reach your own conclusion or consult a financial advisor. Investing includes risks, including loss of principal.

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.

SHENZHEN, CHINA, Sept. 28, 2025 (GLOBE NEWSWIRE) -- China Medical System Holdings Limited (“CMS”) is pleased to announce that its subsidiaries, Dermavon Holdings Limited (“Dermavon”, an innovative pharmaceutical company specialized in skin health which is applying for a separate listing on the Main Board of The Stock Exchange of Hong Kong Limited, please refer to the announcement published by CMS on 22 April 2025 for details) together with its subsidiaries, obtained positive results from the phase 3 clinical trial (the “Trial”) of ruxolitinib cream (the “Product”) in patients with mild to moderate atopic dermatitis (AD) in China.

The Trial is a randomized, double-blind, placebo-controlled, multi-centre clinical trial, with 192 patients enrolled in total, aiming to evaluate the safety and efficacy of the Product in patients with mild to moderate AD. The leading institution is Shanghai Dermatology Hospital, and the principal investigator is Professor Shi Yuling.

The phase 3 clinical trial of ruxolitinib cream in patients with mild to moderate AD in China met its primary endpoint, demonstrating that a significantly higher proportion of patients treated with ruxolitinib cream achieved IGA (Investigator's Global Assessment) of 0 or 1 with at least two grades of reduction from baseline at week 8, compared with placebo (63.0% vs 9.2%, P<0.001). For the key secondary endpoint, the proportion of patients achieving at least a 75% improvement from baseline in the Eczema Area and Severity Index score (EASI 75) of treatment with ruxolitinib cream was also significantly higher than placebo, at week 8 (78.0% vs 15.4%, P<0.001). In terms of safety, the severity of treatment-emergent adverse events (TEAE) during the treatment period was mostly mild or moderate, with no TEAEs leading to discontinuation of the study drug. Overall, the ruxolitinib cream was safe and well-tolerated.

CMS is actively moving forward the Product’s new drug application (NDA) in China.

About AD

AD is a chronic, recurrent and inflammatory dermatologic disease, with the main clinical manifestations of dry skin, chronic eczema-like lesions and obvious itching or pruritus, which may seriously affect the quality of life of patients. It is estimated that there are over 54 million AD patients in China by 2024. Based on SCORAD scores, the proportions of mild, moderate, and severe AD in China in 2024 was 73%, 25%, and 2%, respectively[1]. Topical drugs are the most basic treatment for AD. Traditional topical medications such as topical corticosteroids (TCS) and topical calcineurin inhibitors (TCIs) have clinical pain points with long-term adverse reactions or limited efficacy, therefore novel treatments are urgently needed.

About Ruxolitinib Cream

Ruxolitinib cream (Opzelura®) is a novel cream formulation made of selective JAK1/JAK2 inhibitor ruxolitinib developed by Incyte (NASDAQ: INCY), which is the first topical JAK inhibitor approved for use in the United States by the U.S. Food and Drug Administration (FDA)[2]. Ruxolitinib cream is indicated for the topical treatment of nonsegmental vitiligo in adult and pediatric patients 12 years of age and older and for the topical short-term and non-continuous chronic treatment of mild to moderate AD in non-immunocompromised adult and pediatric patients 2 years of age and older whose disease is not adequately controlled with topical prescription therapies or when those therapies are not advisable. The Product is also approved in Europe for the treatment of adolescents and adults from 12 years of age with non-segmental vitiligo with facial involvement.

The NDA for vitiligo indication of the Product has been accepted by the National Medical Products Administration of China (NMPA). Furthermore, the marketing authorization application have been approved in Hong Kong Special Administrative Region and Macau Special Administrative Region, and the Product was approved by the Guangdong Provincial Medical Products Administration through the “Hong Kong and Macau Medicine and Equipment Connect” policy, which officially introduced ruxolitinib cream for the treatment of non-segmental vitiligo with facial involvement in adults and adolescents from 12 years of age, providing a novel treatment option for patients with relevant indication into designated medical institutions in the Mainland of Greater Bay Area.

CMS, through a subsidiary of Dermavon entered into a Collaboration and License Agreement with Incyte for ruxolitinib cream on 2 December 2022, obtaining an exclusive license to develop, register and commercialize the Product in Mainland China, Hong Kong Special Administrative Region, Macau Special Administrative Region, Taiwan Region and eleven Southeast Asian countries (the “Territory”) and a non-exclusive license to manufacture the Product in the Territory. The subsidiary of Dermavon has sublicensed the relevant rights for the Product outside Mainland China to CMS (excluding Dermavon and its subsidiary).

Incyte has worldwide rights for the development and commercialization of ruxolitinib cream, marketed in the United States and Europe as Opzelura®. Opzelura® and the Opzelura® logo are registered trademarks of Incyte.

About CMS
CMS is a platform company linking pharmaceutical innovation and commercialization with strong product lifecycle management capability, dedicated to providing competitive products and services to meet unmet medical needs.

CMS focuses on the global first-in-class (FIC) and best-in-class (BIC) innovative products, and efficiently promotes the clinical research, development and commercialization of innovative products, enabling the continuous transformation of scientific research into clinical practices to benefit patients.

CMS deeply engages in several specialty therapeutic fields, and has developed proven commercialization capabilities, extensive networks and expert resources, resulting in leading academic and market positions for its major marketed products. CMS continues to promote the in-depth development of its advantageous specialty fields and expand business boundaries, strengthening the competitiveness of the cardio-cerebrovascular/ gastroenterology/ ophthalmology/ skin health businesses. Among them, the skin health business has become a leading enterprise in its field, bringing economies of scale in specialty therapeutic fields. Meanwhile, CMS continuously deepens its business development in Southeast Asia and the Middle East regions, further escorting the sustainable and healthy development.

References:

China Insights Consultancy’s industrial reportDrug approval information can be found on the Incyte official website, as follows: https://investor.incyte.com/news-releases/news-release-details/incyte-announces-us-fda-approval-opzeluratm-ruxolitinib-cream CMS Disclaimer and Forward-Looking Statements
This press release is not intended to promote any products to you and is not for advertising purposes. This press release does not recommend any drugs, medical devices and/or indications. If you want to know more about the diagnosis and treatment of specific diseases, please follow the opinions or guidance of your doctor or other medical and health professionals. Any treatment-related decisions made by healthcare professionals should be based on the patient’s specific circumstances and in accordance with the drug package insert.

This press release which has been prepared by CMS does not constitute any offer or invitation to purchase or subscribe for any securities, and shall not form the basis for or be relied on in connection with any contract or binding commitment whatsoever. This press release has been prepared by CMS based on information and data which it considers reliable, but CMS makes no representation or warranty, express or implied, whatsoever, and no reliance shall be placed on, the truth, accuracy, completeness, fairness and reasonableness of the contents of this press release. Certain matters discussed in this press release may contain statements regarding the Group’s market opportunity and business prospects that are individually and collectively forward-looking statements. Such forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and assumptions that are difficult to predict. Any forward-looking statements and projections made by third parties included in this press release are not adopted by the Group and the Company is not responsible for such third-party statements and projections.

Media Contact

Brand: China Medical System Holdings Ltd.

Contact: CMS Investor Relations

Email: [email protected]

Website: https://web.cms.net.cn/en/home/

Analyst’s Disclosure:I/we have a beneficial long position in the shares of O, NNN, ADC 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.

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.

Swedish automaker aims to launch more hybrid models for U.S. drivers.

American Express has competitive advantages that are built to last, making it an ideal dividend stock to buy and hold.

The S&P 500 (^GSPC 0.59%) has doubled over the last five years largely thanks to mega-cap tech stocks like the "Ten Titans." Many value-focused companies that distribute a significant portion of their profits to shareholders through dividends have underperformed the index during this period of dominance for tech stocks. But not Dow Jones Industrial Average (^DJI 0.65%) component American Express (AXP 0.55%).

The financial services giant produced a 269% total return in the last five years and is on track to beat the S&P 500 for the fifth consecutive year in 2025.

Here's why American Express continues to thrive in a growth stock-dominated market, and why it could still be a buy now, even at an all-time high.

Image source: Getty Images.

American Express is in a league of its own
American Express acts as a payment processor and a bank by issuing cards and managing the risk associated with customers paying off their balances. Whereas Visa (V 0.67%) and Mastercard (MA -0.30%) serve only as the payment processor, passing the risk along to affiliated banks such as JPMorgan Chase and Citigroup. Visa and Mastercard's simplicity and capital-light business models yield far higher operating margins than American Express. But American Express has demonstrated that its approach offers significantly more upside potential and faster growth.

Top-tier American Express cards come with relatively expensive annual fees, but also some generous perks. American Express attracts affluent customers who are highly likely to manage their spending well. Perks incentivize customers to use their cards for as many purchases as possible. The perks come at a cost, as American Express's member rewards expenses are roughly double the fees it collects from memberships. But it's worth it because American Express makes so much in discount revenue (merchant fees). It tends to charge higher fees to merchants than Visa and Mastercard to help offset the losses incurred on membership rewards.

American Express has expanded its network, making it more attractive for merchants to accept its cards, even if they have to pay higher fees. The result is a snowball effect, where existing customers use their American Express cards more frequently, and prospective customers may make the decision to sign up for a card due to the perks and its widespread acceptance.

Thriving throughout the business cycle
American Express has outperformed Visa and Mastercard over the last year, three-year, and five-year periods -- but has lagged both its peers over the last decade. A big reason for American Express's recent breakout relative to Visa and Mastercard is likely its focus on affluent customers, which makes it more resilient to a potential economic downturn or prolonged period of consumer spending declines.

Financial security is closely tied to spending. Someone living paycheck to paycheck without an emergency fund is more likely to be sensitive to inflation and the cost of living outpacing wage growth than someone with a more substantial financial cushion. What's more, a lot of different asset categories are at or near all-time highs --- from the U.S stock market to real estate prices and even gold. Individuals who have benefited from the value expansion in these categories may be better off now than they were when inflation was lower.

As mentioned, the S&P 500 has doubled in the last five years -- and inflation hasn't gone up nearly as much. So folks who own a lot of stocks and have seen their wealth compound may have no issues paying up for discretionary goods and services even if prices have gone up. This is the group of consumers that American Express is targeting, which is what makes it a great bet for investors concerned about a weakening job market or rising inflation.

Even if consumer spending pressures persist, Visa and Mastercard will still generate strong returns because they make money every time a card is swiped, tapped, or processed digitally, regardless of the transaction size. But they are arguably more sensitive to pullbacks in discretionary spending by non-affluent consumers than American Express.

The Federal Reserve's decision to lower interest rates could be a boon for American Express, Visa, and Mastercard. But American Express is a safer bet for investors who value companies with loyal customer bases.

American Express is still a great value
Visa and Mastercard are phenomenal, high-margin companies. But American Express is the better buy for investors looking for a more recession-resistant company at a less expensive valuation and with a higher dividend yield. American Express has a forward price-to-earnings ratio of just 22.2. Its yield is only 1%, but that's mainly because the stock has done so well and outpaced its dividend growth rate. American Express has been boosting its payout at an impressive rate in recent years. Its most recent raise was by 17%, and the payout has nearly tripled over the last decade.

All told, American Express is still a great stock to buy now and has what it takes to continue delivering strong returns for years to come.

American Express is an advertising partner of Motley Fool Money. JPMorgan Chase is an advertising partner of Motley Fool Money. Citigroup is an advertising partner of Motley Fool Money. Daniel Foelber has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends JPMorgan Chase, Mastercard, and Visa. The Motley Fool has a disclosure policy.

Fluor stock is up 365% over the past five years.

Fluor (FLR -0.54%) investors have been very happy over the last five years. Over that time period, shares have risen in value by roughly 365%. That's a compound annual growth rate of 36%, more than 3 times the stock market's long-term average.

Is Fluor your secret to retiring a millionaire? The answer might surprise you.

Two things to know about Fluor's operating history
At its core, Fluor is an engineering and construction company. It serves a variety of sectors, everything from oil and gas to mining and power generation. When big infrastructure projects need planning and building, many companies call on Fluor to handle nearly the entire process.

The last five years have been incredible for Fluor's stock price. But the financials tell a slightly different story. Since 2020, company revenue has increased by just 6.6%. Gross profits, meanwhile, have increased by just 36% over that time period. The stock's price-to-sales ratio is the clear outlier, moving from 0.07 to 0.47 since 2020 -- a rise of nearly 480%.

From this perspective, most of Fluor's stock price appreciation over the last five years has stemmed from a massive increase in its valuation multiple, not improvements to revenue or gross profits. A big reason for this was the company's flip to profitability last year. From 2020 to 2024, Fluor averaged a profit margin of roughly 0%. Over the last 12 months, however, its profit margin has reached 25%. The company is managing its costs, contracts, and execution better today than it has in years. But the biggest mover has been the company's realized and unrealized profits on its position in a small modular rector business that has seen its share price soar. We'll talk more about that position in the next segment, but these two factors contribute to the first thing investors should understand about Fluor's recent operating history: The company has gone from a money-loser to a fairly profitable business in under five years, causing a sharp rerating of the stock.

When you zoom out, you'll see that this type of rerating has happened many times over Fluor's operating history. Engineering and construction can be a cyclical business with huge ups and downs. Cost overruns, meanwhile, can crash the company's financials even when demand is strong. This means that the market has occasionally rerated the stock sharply in both directions -- both up and down.

FLR data by YCharts

Over the decades, Fluor stock has seen several extreme ups and downs. A big reason for the latest spike has been the company's interest in NuScale Power (SMR 0.66%). Beginning in 2011, Fluor began investing hundreds of millions of dollars in designing small reactor technology. It consolidated this interest into NuScale Power, which went public as a separate entity in 2022. Because Fluor still owns a majority of shares, the results are consolidated into Fluor's financials, having an outsize effect on the company's bottom line. Shares held or sold at a profit, for example, will cause Fluor's profits to spike.

This is the second thing to understand about Fluor's operating history: The performance in recent years has been fueled by new business ventures that didn't exist in years past.

Image source: Getty Images.

Does this make Fluor stock a sell?
Fluor's stock has performed very well in recent years. But over the decades, the company has largely been a disappointment for investors. The ups and downs of engineering and construction are wild, and have largely left patient investors lagging the overall market. Recent outperformance, meanwhile, has had more to do with NuScale's success and a rerating of the stock versus a dramatic shift in conditions for the core company.

Does this make shares a sell? Not necessarily. Many investors specialize in cyclical stocks. But you need to understand when conditions are suitable, getting out before these favorable conditions change. NuScale's opportunity in small modular reactors, however, could be an opportunity with decades of growth ahead. If Fluor is on your radar for its strong recent performance, you might actually be better off digging into NuScale.

Ryan Vanzo has no position in any of the stocks mentioned. The Motley Fool recommends NuScale Power. The Motley Fool has a disclosure policy.

NEW YORK, Sept. 27, 2025 (GLOBE NEWSWIRE) --

WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of Nutex Health Inc. (NASDAQ: NUTX) between August 8, 2024 and August 14, 2025, both dates inclusive (the “Class Period”), of the important October 21, 2025 lead plaintiff deadline.

SO WHAT: If you purchased Nutex 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 Nutex class action, go to https://rosenlegal.com/submit-form/?case_id=43936 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 October 21, 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 the largest ever securities class action settlement against a Chinese Company at the time. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) HaloMD, a third-party independent dispute resolution vendor (“IDR”), was achieving lucrative arbitration results for Nutex by engaging in a coordinated scheme to defraud insurance companies; (2) as a result, to the extent that they were the product of fraudulent conduct, revenues attributable to Nutex’s engagement with HaloMD in the IDR process were unsustainable; (3) in addition, Nutex overstated the extent to which it had remediated, and/or its ability to remediate, the material weaknesses in its internal controls over financial reporting; (4) as a result, Nutex was unable to effectively account for the treatment of certain of its stock based compensation obligations; (5) as a result, Nutex improperly calculated these stock based compensation obligations as equity rather than liabilities; (6) the foregoing increased the risk that Nutex would be unable to timely file certain financial reports with the SEC; (7) accordingly, Nutex’s business and/or financial prospects were overstated; and (8) as a result, defendants’ public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Nutex class action, go to https://rosenlegal.com/submit-form/?case_id=43936 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

These four names provide solid returns in a diversified portfolio.

I've always loved dividend stocks. I love receiving a notification every quarter or (in the cases of some stocks) every month that my dividend has been applied and reinvested into my account. I love getting news that a company I've invested in is increasing its yield. I love getting paid a little "thank you" to invest in a quality dividend stock.

Dividend stocks have two basic functions, depending on your investing style. Some investors want to reinvest their dividends, which allows them to increase their shares over time and become even wealthier. Other investors use dividend stocks for income, using the money to cover monthly expenses or fund long-term purchases.

With an outlay of $10,000, you can create a diversified portfolio of dividend stocks that can help you reach both goals. For this exercise, we'll assume investments of $2,500 into four great dividend stocks: McDonald's (MCD 0.95%), Realty Income (O 0.83%), Toyota Motor (TM 0.51%), and International Business Machines (IBM 1.22%).

Image source: Getty Images.

McDonald's
One stock to diversify an income portfolio should be a restaurant stock, so I'm turning to McDonald's. The company is dominant in the space, with more than 38,000 restaurants around the world. McDonald's boasts a 20% global market share in the fast-food industry, which is expected to expand from a $322.72 billion market in 2025 to a $510.15 billion market by 2034.

Revenue in the second quarter was $6.48 billion, up 5% from a year ago, and net income was $2.25 billion, up 11%. McDonald's brought in $3.14 in earnings per share, up from $2.80 in the same period a year ago.

McDonald's stock is the most expensive per share on this list, priced just over $300, so a $2,500 investment can buy eight shares. The stock's 2.3% dividend yield means that investors get $7.08 per share annually in dividends, or $56.64.

Realty Income
I confess that Realty Income is my favorite dividend stock. It pays monthly instead of quarterly, which means that you get your money even faster and can put it to work for you, rather than letting it sit in the company's account.

Realty Income is a real estate investment trust (REIT) that owns 15,600 properties across the U.S. and Europe. Realty Income's properties run the gamut -- grocery stores, convenience stores, home improvement, dollar stores, restaurants, drug stores, and more. At the end of Q2, the company's portfolio had an occupancy rate of 98.6%. Revenue in Q2 was $1.41 billion, with income of $196.9 million and $0.22 per share.

Because it's a REIT, Realty Income is required by law to pay out at least 90% of its profits to shareholders. That's why it has an oversized dividend yield of 5.4%. And that dividend grows rapidly -- this month, Realty Income increased the monthly dividend for the 132nd time since the company began trading publicly in 1994.

Realty Income is trading at $60 per share, so with a $2,500 investment, you can buy 41 shares. Calculated at its new dividend of $3.228 per share annually, you'll get $134 per year in your account, on top of any gains the stock provides.

Toyota Motor
Toyota is one of the most popular and consistent automotive brands in the world. It's known for the Camry and Corolla sedans, Tacoma pickup trucks, and RAV4 and Highlander models of SUVs. Toyota also markets hybrid versions of the Corolla and Highlander, as well as its popular Toyota Prius coupe.

Tariffs are currently a major issue for Toyota, which saw an effect of 450 billion yen ($3 billion) in its operating income for the first quarter of fiscal 2026. Toyota issued guidance that the full-year effect from tariffs will be 1.4 trillion yen ($9.41 billion), up from its previous guidance of 1.2 trillion yen.

However, I see these as short-term headwinds. Toyota is tremendously popular, selling 2.41 million vehicles in the quarter, up 7% from a year ago.

Toyota stock trades for $198, so with $2,500 you can grab 12 shares. The stock has a forward dividend yield of 3.4% and pays out $6.91 per share, so your annual income from dividends would be $82.92.

International Business Machines
IBM is a rare tech stock that pays a substantial dividend. That's because while many other tech companies are still in their rapid growth stages and are pouring money into research and scale, IBM is already mature, tracing its roots back a century.

While IBM did amazing work with personal computers and was one of the first companies to make waves with artificial intelligence (do you remember when IBM's Deep Blue computer beat chess champion Garry Kasparov in 1997?), today the company is best known for working with cybersecurity, cloud computing, and consulting.

IBM's unique position in the growing world of AI and cybersecurity allows it to combine the dynamic performance of a growth stock with consistent dividend growth. IBM increased its dividend for 30 consecutive years, and currently offers a generous dividend yield of 2.5%.

IBM stock currently sells at $270, so a $2,500 investment will only buy nine shares. But as IBM pays $6.72 annually per share in dividends, you'll still walk away with $60.48, plus IBM's market-beating 22% rise so far this year.

Adding it up
By holding on to each of these dividend stocks for a year after your $10,000 investment, you can expect to get back $334 in payments, in addition to whatever gains the stocks give you during the course of the year. Whether you are putting those returns back into your portfolio or taking them out for another purpose, it's free money that's hard to turn down.

Patrick Sanders has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends International Business Machines and Realty Income. The Motley Fool has a disclosure policy.

NEW YORK, Sept. 27, 2025 (GLOBE NEWSWIRE) --

WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of RCI Hospitality Holdings, Inc. (NASDAQ: RICK) between December 15, 2021 and September 16, 2025, both dates inclusive (the “Class Period”, of the important November 20, 2025 lead plaintiff deadline in the securities class action first filed by the Firm.

SO WHAT: If you purchased RCI Hospitality 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 RCI Hospitality class action, go to https://rosenlegal.com/submit-form/?case_id=44953 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 November 20, 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 the largest ever securities class action settlement against a Chinese Company at the time. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, defendants throughout the Class Period made materially false and/or misleading statements and/or failed to disclose that: (1) defendants engaged in tax fraud; (2) defendants committed bribery to cover up the fact that they committed tax fraud; (3) as a result, defendants understated the legal risk facing RCI Hospitality; and (4) as a result, defendants’ statements about its 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 RCI Hospitality class action, go to https://rosenlegal.com/submit-form/?case_id=44953 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

Like many CEOs, the Disney boss tried to avoid President Trump's ire even as he took heat from talent agents and stars for pulling Jimmy Kimmel's late-night show.

Major global corporations are taking concrete steps to integrate XRP into mainstream corporate operations, emphasizing its potential in treasury management, cross-border payments, and tokenization. With the formation of the X Club, companies aim to strengthen the XRP ecosystem while encouraging institutional adoption and regulatory collaboration.

The cryptocurrency market is heating up as investors search for the next promising opportunity. Established altcoins like Cardano (ADA) and TRON (TRX) are showing potential through technical patterns, but emerging projects like BlockDAG (BDAG) are capturing attention with strong presale momentum, adoption metrics, and referral incentives.

James Wynn, the pseudonymous crypto trader known for his billion-dollar bitcoin position earlier this year, has resurfaced with another bold move. This time, Wynn is taking a leveraged position on ASTER, the native token of the rising Aster perpetuals exchange, just days after being liquidated on the same asset.

According to on-chain tracking platform Onchain Lens, Wynn recently opened a $16,000 position with 3x leverage, entering ASTER at $1.97 and setting a liquidation threshold near $1.57. While the amount is significantly smaller compared to his earlier trades, analysts suggest this may serve as a hedge against broader exposure to Aster. Wynn himself confirmed his strategy on X, writing, “I’m farming the $ASTER airdrop. I believe it will be one of the biggest [in] crypto history.”

Wynn has built a reputation for taking extreme risks on Hyperliquid, an onchain derivatives exchange. Earlier this year, he executed a staggering $1.2 billion long position on bitcoin with 40x leverage. That bet resulted in a $17.5 million loss before he switched strategies and entered a billion-dollar short. At the height of his trading spree, Wynn placed his entire $50 million wallet at risk. Despite the volatility, he ultimately walked away with $25 million in profit, famously declaring himself “a wynner.”

Now, with his focus shifting to ASTER, Wynn’s high-risk style continues to capture the attention of traders across the crypto community. The ASTER airdrop speculation, paired with his leveraged long, highlights the growing buzz around the Aster ecosystem and its potential impact on the decentralized derivatives market.

As crypto markets remain unpredictable, Wynn’s latest move reinforces his reputation as one of the most daring traders in the space—turning calculated risk into both massive losses and remarkable profits.

<Copyright ⓒ TokenPost, unauthorized reproduction and redistribution prohibited>

PI Network’s native token, PI, has been trading under pressure after plunging to an all-time low of $0.1842 on September 22. Since then, the cryptocurrency has moved sideways within a tight horizontal channel, holding support at $0.2565 while struggling to break resistance at $0.2917. With broader market sentiment remaining bearish, PI faces the risk of retesting its price low.

One of the clearest signals of weakening momentum is the Average True Range (ATR), which has consistently declined since September 23. At press time, ATR for PI/USD stood at 0.0234, underscoring narrowing price fluctuations and fading trader activity. A falling ATR typically points to reduced volatility and lack of participation, suggesting that capital inflows into PI remain limited. This raises the chances of a breakdown below the crucial $0.2565 support zone.

Adding to the bearish outlook, PI is currently trading well below its 20-day Exponential Moving Average (EMA). This indicator, sitting at $0.3185, is acting as dynamic resistance and highlights sellers’ control of the market. When an asset trades below its EMA, it usually indicates persistent downward momentum and limited buying interest.

If support fails, PI could revisit its all-time low, intensifying selling pressure. On the other hand, a bullish shift in sentiment might allow PI to retest resistance at $0.2919. A breakout above this level could pave the way for a short-term recovery and potentially drive the price back above its 20-day EMA.

For now, however, PI remains vulnerable, with weakening technical indicators and low market participation painting a cautious picture for traders and investors. Unless new buying momentum emerges, the token may continue its sideways consolidation or face further downside.

<Copyright ⓒ TokenPost, unauthorized reproduction and redistribution prohibited>

A groundbreaking transatlantic initiative is fueling institutional blockchain adoption, spotlighting stablecoins, tokenized assets, regulatory alignment, and cross-border finance, with Ripple positioned to shape global standards and accelerate digital growth. Ripple Touts Bilateral Taskforce as Catalyst for Institutional Blockchain Adoption Ripple shared insights on Sept.

Solana (SOL) recently fell below the $200 mark, wiping out its recent rally from $200 to an eight-month high of $253. The 19% drop in just one week has left investors and traders analyzing whether the altcoin has reached a short-term bottom or is poised for further weakness.

BlackRock's industry-leading Bitcoin and Ethereum funds held up slightly better than those of Fidelity, its chief rival in the space.

Bitcoin (BTC) closed the week at $109,676.05, marking a 5% decline — its third-worst weekly performance this year. The dip capped off September with a flat finish and left the third quarter up just 1%, consistent with the month’s historical reputation as one of the weakest periods for crypto markets.

A major factor influencing price action was the expiration of $17 billion in options on Friday, with a max pain level of $110,000 anchoring BTC close to that price. Another critical threshold is the short-term holder cost basis of $110,775, a level BTC has tested repeatedly in past bull markets. While the cryptocurrency briefly broke below this line during April’s “tariff tantrum,” it has generally held above it, signaling resilience.

From a technical perspective, analysts warn that bitcoin has slipped under its 100-day EMA, with the 200-day EMA near $106,186 acting as the next key support. For the broader uptrend to remain intact, BTC must stay above $107,252, the September 1 low.

Meanwhile, the macro backdrop shows strength in the U.S. economy, which grew at a 3.8% annualized pace in Q2. Inflation data remains controlled, with the core PCE index up 0.2% in August. Treasury yields hover near 4.2%, the dollar index (DXY) sits at long-term support, and silver prices are nearing historic highs. Despite this, bitcoin remains over 10% below its peak.

Bitcoin-related equities are also under pressure. MicroStrategy (MSTR), the largest BTC treasury holder, has underperformed the asset, with its mNAV at 1.44 and implied volatility dropping to multi-year lows. Similarly, Metaplanet (3350) holds over 25,500 BTC but has seen its mNAV fall sharply to 1.12, leaving its share price more than 70% below all-time highs.

With declining volatility and technical pressure, bitcoin investors are closely watching whether support levels hold — a key determinant for the sustainability of the ongoing rally.

<Copyright ⓒ TokenPost, unauthorized reproduction and redistribution prohibited>

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

Since the Bitcoin and Ethereum products hit the exchanges in 2024, the crypto market has been looking to welcome additional spot exchange-traded funds (ETFs). Currently, the XRP and Solana ETFs appear to be next in line to hit the market, pending the approval of the United States Securities and Exchange Commission (SEC).

On Thursday, September 25, Bitcoinist reported that the final spot XRP and Solana amendments are expected before the end of this week. As expected, many potential issuers have updated their applications to launch the Solana exchange-traded fund in the United States.

Is SEC Approval For SOL ETF Inevitable?
On Friday, September 26, Bloomberg analyst James Seyffart shared on the social media platform X a bunch of updated applications for the spot Solana ETF prospectuses. According to the expert, this wave of amendments shows signs of movement between the issuers and the US Securities and Exchange Commission.

These latest updates to the applications mean that the launch of a spot Solana ETF is closer than ever. As indicated by Bloomberg expert Eric Balchunas in response to Seyffart’s post on X, investors can begin the final countdown to the approval of these crypto-linked investment products.

As earlier reported by Bitcoinist, ETF Store president Nate Geraci had already predicted that the final batch of amendments to the Solana ETF applications would come in before the close of this week. Geraci arrived at this conclusion after the SEC’s new generic listing standards resulted in the approval of the Hashdex Nasdaq Crypto Index US ETF.

These “generic listing standards” opened a door for firms to be able to issue spot exchange-traded products besides Bitcoin and Ether. According to the SEC, exchanges will now be able to list qualifying crypto-linked ETFs without first submitting a proposed rule change (19b-4). 

Spot Solana ETF To Include Staking: Expert
In a Friday post on X, Geraci also acknowledged the flurry of S-1 amendments for the spot Solana ETF applications. Some of the potential issuers with new updates to their filings include: Franklin Templeton, Fidelity, CoinShares, Bitwise, Grayscale, VanEck, and Canary, according to the ETF Store.

Source: @NateGeraci on X
Geraci also added that the new Solana ETF applications now include staking, which “bodes well” for the spot ETH exchange-traded fund staking. Ultimately, the ETF expert expects the Securities and Exchange Commission to greenlight these SOL-linked products within the next two weeks.

The price of SOL returns above $200 on the daily timeframe | Source: SOLUSDT chart on TradingView
Featured image from Aivaras Sakurovas | Dreamstime.com, chart from TradingView

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