Spotify Revenue Soars, Bitcoin Hits $90K, Amazon Q3 Impresses

November 15, 2024

Spotify’s Rogan deal boosted revenue 80%.

My Size (MYSZ) stock fell 72.2% YTD.

Amazon Q3 revenue rose 16% YoY to $65.6B.

Tesla stock fell 5.77% on tax credit stance.

Bitcoin surged to $90,000.

Tech

Podcast and Streaming Market Performance

Spotify’s Financial Results and Rogan Deal: Spotify’s exclusive deal with Joe Rogan significantly boosted podcast consumption (232% surge), driving an 80% revenue increase from 2021 to 2023. However, Q3 2024 earnings ($1.46/share) missed expectations ($1.76/share), and revenue ($3.99 billion) fell short of projections ($4.02 billion). The Rogan deal’s exclusivity ended, impacting future growth.
Spotify Stock Performance and Future Outlook: A hypothetical $1,000 investment in Spotify at the deal’s launch would have yielded $1,696 by 2024 (69.7% return). Despite recent financial shortfalls, Spotify’s stock closed at $477.50, reflecting investor sentiment. The company’s long-term prospects hinge on diversifying beyond the Rogan deal.

Cryptocurrency Market Volatility and Influencer Marketing

Dogecoin Investor’s Rollercoaster Ride: Glauber Contessoto’s Dogecoin holdings rebounded to over $2.1 million in late 2024, after earlier losses. His experience underscores the volatility of cryptocurrencies and highlights both the potential for significant gains and devastating losses.
Crypto Influencer Risks and Ethical Concerns: Contessoto’s success as a crypto influencer, earning $690,000 from sponsorships, contrasts with criticism for promoting potentially fraudulent projects, such as Safereum (a 95% price drop). This highlights ethical concerns within the crypto influencer landscape.

Software Company Earnings and Market Trends (USA)

My Size’s Q3 Results and Stock Performance: My Size (MYSZ) reported a Q3 2024 loss of $0.64 per share, beating estimates but missing revenue targets ($1.84 million vs $2 million). This resulted in a 72.2% year-to-date stock decline, contrasting with the S&P 500’s 25.5% gain.
Snowflake’s Upcoming Earnings and Industry Outlook: Snowflake (SNOW) is anticipated to report Q3 2024 results showing projected earnings of $0.15 per share (-40% YoY) and revenue of $898.77 million (22.4% YoY increase). These figures offer insights into the broader software sector’s performance.

E-Commerce and AI Investments (USA)

Amazon’s New Storefront and Q3 Results: Amazon launched its low-cost online storefront, “Haul,” to compete with Chinese e-commerce. Q3 2024 revenue rose 16% year-over-year to $65.60 billion, exceeding expectations. Its AI business is projected to reach $10 billion in revenue by Q2 2025.
Ark Invest’s Trading Activity and Market Positioning: Ark Invest’s significant trades in Amazon (a $6.03 million purchase) and Rocket Lab (a $10.09 million sale) reflect strategic investment decisions within the technology and space exploration sectors.

Electric Vehicle Market Dynamics (USA)

Tesla’s Tax Credit Stance and Stock Dip: Tesla’s support for eliminating the $7,500 federal EV tax credit sparked controversy. While Tesla believes it will benefit more than competitors, analysts express concerns about potential impacts on sales, given Tesla’s high reliance on EV sales (≈80% of revenue).
Tesla’s Stock Performance and Market Sentiment: Tesla’s stock fell 5.77% on Thursday, further illustrating investor uncertainty regarding the company’s strategy and the broader EV market’s future.

Wearable Technology and Strategic Partnerships (USA)

Vuzix’s Q3 Results and Restructuring: Vuzix (VUZI) reported a Q3 2024 revenue drop (36% YoY) to $1.4 million and a net loss of $9.2 million. The company is shifting towards the consumer OEM market through a $20 million investment and partnerships with Garmin and Thales.
Vuzix’s Stock Performance and Future Strategy: Vuzix’s stock closed at $0.91, down 15.55% on Thursday. The company’s future success depends on its ability to successfully transition to high-volume waveguide production and compete in a crowded market.

Finance

US Company Earnings Reports

Post Holdings Q3 2024 Performance: Post Holdings (POST) reported Q3 2024 revenue of $2.01 billion, a 3.3% YoY increase exceeding Zacks’ estimate by 2.51%. EPS was $1.53, surpassing estimates by 28.57%, but down from the prior year’s $1.63. Segmental performance varied significantly.
Segmental Performance Analysis: Post Consumer Brands showed strong growth, while Refrigerated Retail underperformed. This diverse performance highlights operational challenges. Adjusted EBITDA also varied widely across segments.
Stock Market Reaction: Despite exceeding estimates, POST shares underperformed, returning -5.6% in the past month against the S&P 500’s +3.1% gain, resulting in a Zacks Rank #4 (Sell).

US Legal Challenges Facing Hasbro

Hasbro Class Action Lawsuits: Multiple class-action lawsuits allege Hasbro (HAS) misrepresented inventory levels, portraying oversupply as strong demand.
Financial Impact of Lawsuits: The lawsuits stem from Hasbro’s reported revenue declines (17% and 18% YoY) and projected $50 million in inventory costs, causing significant stock price drops (8% and 11%, respectively).
Investor Confidence Concerns: These legal challenges highlight significant risks in inventory management and forecasting, impacting future financial performance and investor confidence.

Equus Total Return’s Investment Performance

Net Asset Value Decline: Equus Total Return, Inc. (EQS) saw its net asset value per share decrease to $2.96 on September 30, 2024, from $3.66 on June 30, 2024. Net assets fell from $49.79 million to $40.17 million.
Energy Investment Exposure: This decline is primarily due to decreased fair value in Morgan E&P and Equus Energy investments, largely attributed to a 17.6% drop in oil prices and reduced production.
Investment Portfolio Risk Assessment: EQS’s heavy reliance on energy investments exposes it to significant commodity market volatility, highlighting the need for thorough investment assessment.

Major Hedge Fund Portfolio Adjustments

Elliott Investment Management’s Q3 Activity: Elliott significantly altered its portfolio, initiating new positions in travel and lodging, substantially increasing some existing stakes (e.g., LUV +919%), and trimming others.
Appaloosa Management’s Trades: Appaloosa sold its Boeing stake and closed positions in Macy’s and UPS. New positions include energy companies (VST, NRG) and gaming companies (LVS, WYNN).
Third Point’s Portfolio Moves: Third Point opened nine new positions (e.g., BN, TSLA, CVS) and closed eleven, significantly impacting holdings in AIG, VZ, and MU.
Market Sentiment Shifts: These shifts indicate evolving market sentiment and investment strategies among major players, reflective of diverse outlooks.

Global Corporate Actions

Dividend Announcements & Share Buybacks: Okeanis Eco Tankers Corp. (OET) declared a $0.45 Q3 2024 dividend. Several companies announced significant share buyback programs (Sampo plc, Aegon, OSB Group PLC).
Convertible Note Offerings: Synaptics Inc. priced a $400 million convertible notes offering, while Alignment Healthcare, Inc. is issuing $330 million.
Other Corporate Actions: Hyperscale Data announced a special dividend, showcasing diverse corporate actions across the global finance landscape.

Global Market Trends and Events

US Election Impact and Interest Rates: Donald Trump’s election influenced market shifts, including a stronger dollar, increased bond market activity (>$50 billion raised), and revised rate cut expectations. Powell’s cautious stance on rate cuts also influenced markets.
Cryptocurrency Market Volatility: Cryptocurrency markets showed volatility influenced by Powell’s comments and various lawsuits. High stablecoin inflows were cited as supportive of Bitcoin’s bull market.
Overall Market Sentiment: Overall market trends reflected diverse earnings reports, analyst rating changes, options market activity and numerous lawsuits filed against various companies. Bitcoin prices surged to $90,000.

Healthcare

US Healthcare Legal Battles

PACS Group Securities Lawsuit: PACS Group faces a securities class action lawsuit alleging fraudulent Medicare billing, leading to a significant stock price drop exceeding 65% post-IPO.
Eli Lilly’s 340B Program Challenge: Eli Lilly sued HRSA, contesting the rejection of their 340B drug discount plan, highlighting ongoing debates on drug pricing.
Edwards Lifesciences Securities Litigation: Edwards Lifesciences faces a securities lawsuit due to misleading statements about its TAVR platform’s growth, resulting in a $16 billion shareholder value loss.
Acadia Healthcare Multiple Lawsuits: Acadia Healthcare faces multiple securities lawsuits alleging misleading investors about business practices, leading to stock price declines.

Global Gene Therapy Developments

FDA Approves First AADC Deficiency Gene Therapy: The FDA approved PTC Therapeutics’ Kebilidi, the first gene therapy for AADC deficiency, resulting in an 8.5% increase in PTC shares.
Dupixent Resubmission for CSU Treatment: Regeneron and Sanofi resubmitted a sBLA for Dupixent to treat chronic spontaneous urticaria, with FDA action expected by April 18, 2025. Over 1,000,000 patients globally use Dupixent.

European Biosimilar Approval

Sandoz’s Afqlir Marketing Authorization: Sandoz received EU marketing authorization for Afqlir, a biosimilar to Eylea, for retinal diseases. Launch is anticipated in Q4 2025. About 1.7 million patients in Europe, the US, and Japan receive treatment for nAMD.

Vaccine Market Dynamics and Anti-vaccine Sentiment

Bavarian Nordic’s Strong Financial Performance: Bavarian Nordic reported DKK 3,622 million revenue for 9 months of 2024, including DKK 2,400 million in 2025 mpox/smallpox vaccine orders.
Vaccine Stock Decline Amidst Anti-vaccine Appointment: Moderna, Pfizer, Novavax, BioNTech, GSK, and Sanofi shares declined following Robert F. Kennedy Jr.’s HHS nomination.

Emerging Therapeutics and Market Projections

Weight-Loss Drug Market Competition: Eli Lilly leads the weight-loss drug market, but Viking Therapeutics is entering the $130 billion (projected) market with VK2735.
Global Protein Therapeutics Market Growth: The global protein therapeutics market is projected to grow from US$ 318.4 billion in 2022 to US$ 549.4 billion by 2031, with North America dominating the market.

Company Financial Performance and Updates

Diverse Company Results: Several companies reported varied financial results. Hologic showed strong performance in molecular diagnostics and breast health; Karolinska Development AB had a SEK -10.9 million net loss; Pharma Equity Group A/S reported a loss; HealthLynked Corp. had a net loss increase; while Sol-Gel Technologies and TransMedics Group showcased revenue growth. Other companies like 89bio, AIM ImmunoTech, Medicenna, and Purple Biotech reported positive clinical trial updates. Several companies such as UnitedHealth Group, ResMed, Scientific Industries and NeurAxis showed positive results. Conversely, Organon received a Sell rating, while Pfizer holds a Buy rating. Others, like Eyenovia and Solventum, experienced stock price declines despite progress.
Conference Presentations and Corporate Actions: Many companies announced participation in upcoming conferences, board appointments (Opthea), dividend announcements (Sienna Senior Living), new product launches (Solventum, SeaStar Medical), and strategic reviews (Eyenovia).

Economy & Real estate

US Economic Overview

Inflation Cooling & Rate Cuts: October’s CPI rose 2.6% annually, showing cooling inflation but still exceeding the 2.5% 2025 Social Security COLA. The Federal Reserve cut interest rates by 0.25%, its second consecutive cut.
Robust Retail Sales, Manufacturing Rebound: Retail sales increased 0.4% month-over-month in October, exceeding expectations. The Empire State Manufacturing Index surged to +31.2% in November, indicating strong recovery.
Tight Labor Market, Producer Price Increases: Jobless claims fell to 217,000, signaling a tight labor market. October’s producer prices rose 0.2%, indicating persistent inflationary pressures.
Social Security Adjustments 2025: Social Security benefits will increase by 2.5% in 2025, but Medicare Part B premiums will rise, partially offsetting the increase. The Social Security payroll tax ceiling will increase to $176,100.

European Economic Trends

UK Economic Contraction (September): The UK economy contracted by 0.1% in September, following 0.2% growth in August, indicating underlying weakness. Third-quarter growth was only 0.1%.
UK Inflation and Interest Rate Cut: UK inflation fell to 1.7% in September, leading to a 0.25% rate cut, bringing the key rate to 4.75%. Further cuts are unlikely.
Eurozone Inflation Increases (France & Italy): France’s annual inflation rose to 1.2% in October, while Italy’s reached 0.9%, up from 0.7% the previous month.
US Election Impact on Europe: The US election outcome has created uncertainty regarding potential tariff impacts on the European economy.

US Real Estate Market

Multifamily Expansion (Southwest US): Cityview is expanding into Texas, Arizona, and Colorado, driven by strong job growth and population increases. Recent acquisitions include Silva (221 units) and Tralee Village (130 units).
Industrial Real Estate Activity: EastGroup Properties acquired properties in Atlanta ($88 million), Dallas ($77 million), and Nashville ($10.1 million). Despite high occupancy (96.3%), rental rate growth has slowed. Rexford Industrial Realty saw substantial rental rate increases.
Office Space Leasing Success: Brandywine Realty Trust achieved 100% lease-up at its 250 Radnor property (168,000 sq ft). BXP Inc. experienced growth despite a year-over-year decline in FFO per share.
REIT Dividend Announcements: Flagship Communities REIT declared a monthly distribution of US$0.0517 per unit. CAPREIT announced a monthly distribution of $0.125 per unit. PulteGroup increased its quarterly dividend by 10%, to $0.22 per share.

REIT Performance and Transactions

REIT Acquisitions: AIP Realty Trust plans to acquire AllTrades Industrial Properties for up to US$78.7 million. Melcor REIT is being acquired by Melcor Developments Ltd. for $4.95 per unit.
REIT Portfolio Strategies: Gulf & Pacific Equities Corp. reported a slight revenue increase. Baltic Horizon Fund maintained stable net rental income.
REIT Stock Performance Analysis: EPR Properties stock offers a high dividend yield (7.5%) but carries risks. BXP and Digital Realty stocks performed well due to strong leasing and demand.
REIT Portfolio Management (Gulf & Pacific): Gulf & Pacific Equities Corp. reported a slight revenue increase driven by reinvestment in income properties.

International Real Estate

Baltic Real Estate Development: Pro Kapital Grupp reported active development in Tallinn, Riga, and Vilnius, with varying presale percentages. They exceeded budget expectations with hotel operations despite lower overall revenue.
Affordable Housing Initiatives (Florida): The Florida Bankers Association and FHLBank Atlanta hosted an Affordable Housing Summit to address affordable housing challenges.

Other Industry News

Casino Management Changes: Full House Resorts announced new management appointments.
Reverse Stock Split: LuxUrban Hotels Inc. is conducting a reverse stock split.

Retail

Retail Litigation

Chipotle Portion Size Lawsuit: A class-action lawsuit alleges Chipotle misled investors by concealing inconsistent portion sizes, impacting customer satisfaction and increasing costs. The lawsuit covers February 8, 2024 – October 29, 2024, with a January 10, 2025 deadline for lead plaintiff motions. Chipotle acknowledged inconsistencies during Q2 and Q3 2024 earnings calls.
Impact on Investor Confidence: The lawsuit could negatively impact Chipotle’s stock price and overall investor confidence, particularly given the company’s admission of the issue.
Legal and Financial Ramifications: The potential financial penalties and reputational damage from this lawsuit could significantly affect Chipotle’s future performance.
Industry Implications: This case highlights the importance of transparency in retail operations and accurate financial reporting to avoid similar legal challenges.

Private Label Jewellery Expansion

Retailer Jewellery Launches: Retailers are expanding into the jewellery market, launching their own lines to leverage existing customer bases and high margins. Watches of Switzerland’s Roberto Coin acquisition exemplifies this, boosting its share price by 30% in a week.
Market Size and Opportunity: The jewellery market is estimated at approximately £250 billion, with 75% of products unbranded, providing significant expansion opportunities for retailers.
Competitive Dynamics: This strategy could cannibalize existing branded jewellery sales, particularly at higher price points, though some believe it presents opportunities for growth.
Consumer Demand and Trends: This expansion demonstrates a growing consumer demand for affordable and retailer-exclusive jewellery options.

High Jewellery Market Trends

Autumn High Jewellery Launches: A new autumn high jewellery season has emerged, driven by increased high-net-worth consumer activity and holiday gifting. This season demonstrates the resilience of the jewellery market to economic downturns.
Market Resilience and Growth: Bain & Company notes jewellery sales have withstood the recent economic downturn, unlike other luxury sectors. This highlights the strength of the high jewellery market.
Geographic Expansion: Brands like Piaget, Dior, and Tiffany & Co. are staging events in high-growth luxury markets like Abu Dhabi and Madrid.
Strategic Marketing: The autumn launch strategy aims to maximize media attention and generate buzz during the peak holiday shopping season.

Independent Watchmaking Growth

Indie Watch Brand Boom: The independent watchmaking sector is thriving, with new brands emerging and capitalizing on the post-pandemic interest in watches (e.g., 1 million Moon Swatch units sold).
Direct-to-Consumer Sales: Many indie brands prioritize unique designs, sustainable materials, and direct-to-consumer sales models via social media and online platforms.
Industry Events and Impact: Events like the Windup fair (145 brands in 2024, up from 85 in 2023) showcase the growth of this segment, impacting even established brands like Rolex and Hublot.
European Market Dominance: Many successful independent watch brands are based in London, Copenhagen, and other European cities, highlighting regional strength.

Pet Food Market Consolidation

General Mills’ Acquisition: General Mills acquired Whitebridge Pet Brands’ North American premium cat food and treat business for $1.45 billion, demonstrating a strategic focus on the growing pet food sector.
U.S. Pet Food Market Value: The U.S. pet food market is valued at $52 billion, with cat food and treats representing $24 billion—a sizable market for expansion.
Strategic Investment and Growth: This acquisition adds Tiki Pets and Cloud Star brands, and two manufacturing facilities, further expanding General Mills’ pet food portfolio.
Industry Trends and Consolidation: This acquisition highlights the ongoing consolidation and growth within the U.S. premium pet food market.

E-Commerce and Generational Shifts

Temu’s Gen Z Market Share: Temu was the most downloaded shopping app among U.S. Gen Z (18-24) in the first 10 months of 2024 with almost 42 million downloads, challenging Amazon (15 million Gen Z downloads).
PDD Holdings’ Revenue Growth: Temu’s parent company, PDD Holdings, reported $13.4 billion revenue for Q2 2024, an 86% year-over-year increase.
MINISO’s Licensed Merchandise: MINISO launched a Harry Potter collection with over 800 products across multiple countries, including the U.S., UK, Canada, and France, highlighting the power of licensed merchandise and global retail strategy.
Competitive Landscape: This demonstrates the evolving competitive landscape in e-commerce, with new entrants challenging established players and emphasizing different market approaches.

Infrastructure

European Infrastructure Acquisition

DFDS Acquires Ekol Logistics: DFDS acquired Ekol Logistics’ European network for €240 million, expanding its reach in a high-growth region. The network includes 3,700 employees and generated €440 million in revenue in 2024.
Ekol Integration and Profitability: Ekol Logistics, with a 2.5% EBIT margin in 2023, faces operational challenges. DFDS aims for a 5% EBIT margin by 2027 through a three-phase integration plan.
Ekol’s Operational Scale: Ekol operates 5,800 equipment units from 26 facilities across 10 countries, primarily using intermodal transport for automotive, industrial, and textile sectors.
Synergies and Market Positioning: This acquisition strengthens DFDS’s end-to-end logistics solutions, particularly connecting Türkiye and Europe, leveraging Türkiye’s manufacturing growth.

US Construction and Logistics Performance

Orion Group’s Investor Presentations: Orion Group Holdings participated in investor conferences, showcasing its marine and concrete construction services across the US, Canada, and the Caribbean.
Armlogi’s Q1 2024 Results: Armlogi reported $42.5 million in Q1 2024 revenue (3% YoY growth), but a net loss of $(4.6) million due to increased costs of sales and administrative expenses.
Armlogi’s Operational Expansion: Armlogi expanded warehousing capacity by 60,000 sq ft, enhanced its trucking operations, and formed partnerships with Temu and Massimo Group.
Landstar’s Leadership Transition: Landstar appointed Joe Beacom as President and Matt Miller as VP and Chief Safety & Operations Officer, effective December 1, 2024.

Romanian Nuclear Power Plant Project

CANDU Reactor Construction Contract: AtkinsRéalis won a $224 million contract to build two CANDU reactors in Romania, potentially escalating to a much larger project.
Project Funding and Economic Impact: Canada provided $3 billion in export financing. The project will nearly double Romania’s clean energy and create numerous jobs.
Environmental and Energy Security Benefits: The project will reduce CO2 emissions by an estimated 215 million tons and enhance energy security through the use of unenriched uranium.
CANDU Reactor Performance: The CANDU reactors will deliver 720 MW of clean power and produce medical isotopes. Existing CANDU units hold the world record for capacity factor.

US Transportation Sector Developments

Saia’s Centennial and Investments: Saia Inc. celebrated its 100th anniversary and announced a $1 billion investment in operations, expanding its less-than-truckload and logistics services.
Saia’s Operational Scale: Saia operates 213 terminals, employs over 15,000 people, and owns a large fleet, serving the US transportation market.
Watsco’s Environmental Impact: Watsco, an HVAC/R distributor, presented at the Stephens Investment Conference, highlighting its efforts to reduce CO2e emissions by 21.8 million metric tons.
ONYX-NSA Partnership: ONYX partnered with the National Service Alliance to supply floor care equipment to over 1800 cleaning companies.

US Rail Transportation Earnings and Outlook

CSX Q3 2024 Financial Results: CSX reported Q3 2024 EPS of $0.46, missing estimates, with total revenue of $3.62 billion (1% YoY growth) driven by merchandise pricing.
CSX Segmental Revenue Performance: Merchandise revenue increased 6%, while intermodal revenue fell 2%. Coal revenue decreased by 7%, and other revenues by 15%.
CSX’s Financial Position: CSX held $1.64 billion in cash and $18.53 billion in long-term debt at the end of Q3 2024.
CSX’s Outlook and Analyst Sentiment: Management anticipates modest volume growth but lower revenue in Q4 2024. Analyst estimates have trended downward, resulting in a negative outlook.

US Heavy Construction Industry Trends

Infrastructure Spending and Industry Growth: Government infrastructure investment fuels growth in heavy construction, particularly in communications, power, and large-scale projects.
Industry Performance and Earnings: The industry outperformed the broader Construction sector and S&P 500, with stocks gaining 129.4% year-over-year. Earnings estimates are positive.
Key Players and Market Position: MasTec, EMCOR, Granite Construction, Great Lakes Dredge & Dock, and Primoris Services benefit from strong backlogs and acquisitions.
Industry Challenges: The industry faces macroeconomic challenges, labor shortages, rising material costs, project delays, and funding uncertainties.

Commodities

Cannabis Industry Developments

Massachusetts Occupational Safety: New regulations in Massachusetts mandate OSHA guidelines for cannabis processing facilities, prompted by a fatal occupational asthma case in 2022. Trulieve faced significant fines for violations.
German Medical Cannabis Market Growth: Tilray launched German-grown medical cannabis, capitalizing on new cultivation regulations (MedCanG) and the expanding German market projected to reach $1.09 billion by 2028.
New Jersey Cannabis Sales Strategy: Garden Greens utilizes a “sneaker drop” sales model to generate hype and demand for its cannabis products in New Jersey’s market. This unique strategy contrasts with traditional large-scale models.

Natural Gas Market Outlook

Global Natural Gas Storage Market Growth: The global natural gas storage market is projected to reach $15.25 billion by 2031, expanding at a 4.5% CAGR (2024-2031). Growth is fueled by rising demand, particularly from Asia-Pacific.
High Arctic Energy Services Q3 2024 Performance: High Arctic Energy Services reported a substantial revenue increase (147% to $2,506,000) in Q3 2024, driven by an acquisition. Adjusted EBITDA turned positive.

Industrial Materials and Energy Markets

Global Pressure Vessels Market Expansion: The global pressure vessels market is expected to reach $77.46 billion by 2031, growing at a 6.1% CAGR (2024-2031), driven by chemical and petrochemical sectors. North America leads the market.
Global Benzene Market Projections: The global benzene market is projected to reach $74.32 billion by 2031, expanding at a 6.1% CAGR (2024-2031), driven by rising styrene consumption. Asia-Pacific dominates the market.

Oil & Gas Sector Performance

Prairie Provident Resources Q3 2024 Results: Prairie Provident’s Q3 2024 production decreased by 38% due to asset sales, yet operating netback improved to $13.20/boe. Net income reached $5.2 million.
ArcelorMittal Q3 2024 Earnings: ArcelorMittal reported lower Q3 2024 adjusted earnings ($488 million) compared to Q3 2023, primarily due to lower selling prices. Investable cash flow remained strong at $2.8 billion.
ChampionX Dividend: ChampionX declared a $0.095 per share quarterly dividend.

Mining and Metals Industry Updates

Argyle Pink Diamonds Market: Prices for Argyle pink diamonds have significantly outperformed equity markets over two decades. A recent record sale underscores the gems’ value.
Vallourec Q3 2024 Results: Vallourec reported strong Q3 2024 EBITDA (€168 million) and cash generation (€130 million), confirming full-year guidance.
Koryx Copper Inc. Haib Copper Project: Koryx Copper raised C$18 million to fund drilling at its Haib Copper Project in Namibia, aiming to expand high-grade mineralization.

Diverse Commodity Markets

Protein Ingredients Market Growth: The global protein ingredients market is projected to grow to $85.6 billion by 2028 (7.0% CAGR), driven by health consciousness and plant-based demand. Europe leads the market.
Frozen Food Markets: The global frozen meat, seafood, and ammunition markets are projected to grow to $31.7 billion, $42.9 billion, and $90.07 billion respectively by 2031, driven by various factors including convenience and consumer preference. North America and Asia-Pacific are key markets.
Tobacco Industry Shift: The tobacco industry is transitioning towards smoke-free alternatives, driven by stricter regulations and changing consumer preferences. Major players are investing heavily in reduced-risk products.

Politics

US Presidential Transition & Appointments

Department of Government Efficiency (DOGE) Formation: A new Department of Government Efficiency (DOGE), led by Elon Musk and Vivek Ramaswamy, aims to slash federal inefficiencies by $2 trillion by July 4, 2026. Recruitment focuses on high-IQ individuals for extensive work hours. Experts express skepticism about the timeframe.
SEC Chair Succession: President-elect Trump’s SEC Chair choice remains unclear, with potential candidates including Commissioners Hester Peirce and Mark Uyeda. Gary Gensler’s potential departure amid regulatory lawsuits leaves crypto regulation’s future uncertain.
Attorney General Nomination Challenges: Matt Gaetz’s nomination faces a low (28%) probability of Senate confirmation due to his controversial past and ongoing investigations. His pro-crypto stance contrasts with broader administration uncertainty on crypto policy.
Controversial Defense Secretary Pick: Pete Hegseth’s appointment as Secretary of Defense has sparked controversy due to a past, albeit uncharged, sexual assault investigation. This raises concerns among some senators.

US Economic Policy & Cryptocurrency Initiatives

Pennsylvania’s Bitcoin Reserve Proposal: A Pennsylvania bill proposes allocating up to 10% of state treasury funds ($970 million) to Bitcoin to combat inflation. The bill’s success remains uncertain, mirroring national discussions about a Bitcoin reserve.
National Bitcoin Reserve Momentum: The “Bitcoin Act,” aiming for a 1 million BTC national reserve ($89 billion) over five years, has gained traction following Trump’s win. Senator Lummis advocates for passage, despite significant opposition.
US-Argentina Relations & Crypto: President-elect Trump’s meeting with Argentinian President Milei, a Bitcoin advocate, underscores the growing link between international relations and cryptocurrency. Milei’s austerity measures, praised by Trump and Musk, reflect this link.

Canada’s Broadcasting Regulatory Changes

Canadian Broadcasting Act Review: The CRTC’s public consultations aim to redefine Canadian content for online streaming and modernize radio regulations. Comments are due by January 20, 2025, focusing on Canadian storytelling and radio community relevance.

US Healthcare Policy Under New Administration

RFK Jr.’s HHS Leadership: Robert F. Kennedy Jr.’s appointment as HHS Secretary generates both support and controversy due to his views on vaccines. His focus may include reforming drug policy (cannabis, psychedelics), and increasing transparency in pharmaceuticals.

US Veterans Affairs and Cannabis Policy

VA Leadership & Cannabis Access: Doug Collins’s appointment to lead the VA raises questions about future cannabis policy for veterans. His evolving stance, from opposition to support for state-level programs, contrasts with veteran organizations’ advocacy for expanded access.

US Media & Business: Trump Media Stock Activity

Trump Media Stock Sell-Off: Significant stock sales by major Trump Media investors, like ARC Global Investments II (down to 0.01% share), suggest fluctuating investor confidence tied to Trump’s political prospects.