markets

Max Knoblauch6/26/25

Avis Budget shares climb as Pentwater says it’s more than doubled its stake in the white-hot rental company

One of this year’s hottest investments: 2019 Toyota Corollas that smell like cigarettes. Shares of Avis are climbing on Thursday following news that hedge fund Pentwater Capital has roughly tripled the size of its stake in the rental car company.

Appearing on CNBC, Pentwater said its Avis stake is now greater than 19%. According to FactSet, Pentwater held about 6.6% of Avis as of March 31.

If the fund happened to scoop up all of its new shares on April 1, its investors would be very happy: Avis shares are up more than 130% since that date.

Avis rival Hertz is also booming this year — its shares have more than doubled in 2025. Investors are anticipating rental fleets to climb in value as used car demand grows amid tariff-led vehicle price surges. There may also be some market optimism in the potential for AI vehicle scans to boost rental companies’ ability to hit customers with higher damage charges.

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Tasha Matsumoto

Stocks cap off a fantastic year with a bad day

Every sector traded lower and all of the Magnificent 7 stocks fell.

UNITED STATES - FEBRUARY 04: Football: Super Bowl XLI, Chicago Bears Brian Urlacher (54) upset after losing game vs Indianapolis Colts, Confetti, Miami, FL 2/4/2007

markets

Luke Kawa12/31/25

Trump Media jumps after announcing plans to distribute digital tokens to shareholders

Trump Media & Technology Group is jumping in premarket trading after the owner of Truth Social announced plans to distribute a digital token to shareholders in partnership with Crypto.com (which is also its partner in the event contracts space).

Shareholders will receive one token per share owned, according to the press release, which can give the holder access to “various rewards” that “may include benefits or discounts tied to Trump Media products.”

This move is a little closer to home for Trump Media, which has effectively been a digital asset treasury, compared to its recent merger with fusion energy company TAE Technologies, which will radically transform the entity.

markets

Luke Kawa12/31/25

Nvidia, TSMC rise as the world’s most valuable company reportedly asks for more chips to meet Chinese demand

Nvidia and TSMC are modestly higher in premarket trading Wednesday after Reuters reported that the chip designer asked the Taiwanese chip manufacturing giant to boost production of its H200 AI chips.

Earlier this month, US President Donald Trump said that Nvidia would be able to ship the best-performing processors from its Hopper generation to China, with 25% of the proceeds going to the US government. Per the report, Chinese companies have already placed orders for more than 2 million of these chips in 2026, roughly triple the 700,000 in inventory that Nvidia has in reserve. Reuters added that Nvidia is planning on selling these chips at around $27,000 apiece, which would amount to a more than $54 billion boost in revenues if it’s able to realize all this reported demand. The ability to do so will also depend on Chinese regulators green-lighting purchases. The chip designer’s success in 2025 has come despite being effectively shut out of the Chinese AI market for the year.

The outlet previously reported that Nvidia plans to begin sending these GPUs to China before the Lunar New Year holiday (which starts on February 17, 2026), and that Chinese companies are eagerly awaiting the opportunity to get their hands on these powerful chips.

During Nvidia’s Q3 conference call, which came prior to the Trump announcement, CEO Jensen Huang expressed confidence in his ability to meet demand for the company’s GPUs going forward, saying, “In many cases, we’ve secured a lot of supply for ourselves, because obviously, they’re working with the largest company in the world in doing so.”

Huang’s relationship with critical supply chain partner TSMC appears to benefit from a personal touch: during his November visit to Taiwan, he met with the chipmaker’s CEO, CC Wei, as well as other execs over hot pot, and called TSMC “the pride of the world” the next day.

markets

Luke Kawa12/31/25

Nike rises after CEO Elliott Hill purchases $1 million in company stock

Nike is sprinting to the finish line in 2025, up more than 2% in premarket trading after a filing after the close on Tuesday showed that CEO Elliott Hill purchased a little over $1 million in company stock on December 29.

The news comes on the heels of last week’s revelation that Apple CEO and board member Tim Cook bought nearly $3 million in Nike stock.

Hill returned to the company to replace former CEO John Donahoe in October 2024. This is Hill’s only open market purchase of Nike stock during his tenure atop the company.

Shares of the sports apparel maker are still down about 17% year to date.

Tasha Matsumoto

Stocks dip for third consecutive day as Santa Claus rally stalls

Traders digested the minutes from the Fed’s December meeting.

SYDNEY, AUSTRALIA - DECEMBER 20: A Kodiak bear receives a Christmas treat at Taronga Zoo on December 20, 2007 in Sydney, Australia.

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