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Biden to decide fate of Nippon Steel’s $15 billion bid for US Steel: here’s what you need to know

President Joe Biden faces a critical decision on Nippon Steel’s $15 billion bid to acquire US Steel, a deal that has raised concerns over national security.

The Committee on Foreign Investment in the United States (CFIUS) referred the matter to the President after failing to reach a consensus, Reuters reported.

President Biden has 15 days to block the transaction, which has faced opposition from both him and former President Donald Trump.

Will the Nippon Steel-US Steel deal go through?

The potential merger has been under intense scrutiny due to its implications for US economic and national security.

If Biden takes no action within the given timeframe, the deal will proceed, offering an unexpected green light to the Japanese steel giant.

However, the President has previously expressed reservations about the tie-up, aligning with Trump’s stance, who also opposed the merger before his term ended.

CFIUS, responsible for assessing foreign investments for national security risks, escalated the review to Biden after thorough deliberation.

“We received the CFIUS evaluation, and the President will review it,” said White House spokeswoman Saloni Sharma.

Both Nippon Steel and US Steel confirmed they were informed of the referral on Tuesday, adding to the uncertainty surrounding the deal’s future.

Nippon Steel has urged Biden to consider the measures it has taken to address security concerns.

“We have made significant commitments to grow US Steel and ensure national security is safeguarded,” the company stated.

US Steel echoed the sentiment, emphasizing that the deal enhances both US economic and national security.

Should the deal collapse, Nippon Steel faces a hefty $565 million penalty to US Steel.

The company has also indicated that it may pursue legal action against the US government if the merger is blocked.

The acquisition is pivotal to Nippon Steel’s expansion strategy, which aims to increase its global steel production capacity from 65 million metric tons to 85 million tons annually.

The company views the merger as a cornerstone to achieving its long-term goal of surpassing 100 million tons of production.

The stakes are high as Biden weighs the potential economic benefits against national security risks.

The outcome will have far-reaching implications for the global steel industry and US-Japan trade relations.

A decision is expected within the next two weeks, keeping markets and stakeholders on edge.

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Box and Dropbox stocks are unloved: what next?

Box and Dropbox stocks have underperformed the market since they went public. Dropbox stock is stuck where it was when it went public in 2018, while Box has jumped by just 37% from its IPO price. An investment in the Nasdaq 100 index or the S&P 500 would have had better returns.

Dropbox vs Box stocks

Why Box and Dropbox stocks are struggling

Box and Dropbox are technology companies whose core product is its file storage solutions. Using their products, customers can easily store files and documents and access them anywhere through their mobile applications. 

The challenge, however, is that this has become a highly competitive industry, where key companies offer similar products. Alphabet owns Google Drive, which often comes pre-installed in Android devices. It is also linked to other Google services, especially Photos.

Apple also owns iCloud, which is also installed in its devices like MacBooks, iPhones, and iPads. Microsoft has its OneDrive solution that is part of the Microsoft 365 solution. As such, a 365 customer automatically gets free file storage as part of the offerings. 

On the other hand, users must first find out about Dropbox and Box, sign up, and download the applications. 

The two companies have now focused mostly on having corporate customers. Again, in this, they find that companies like Amazon, Google, and Microsoft are the biggest cloud computing providers in the world. As such, many companies seeking cloud file storage solutions often turn to the main providers, a move that helps simplify their billing.

Box and Dropbox have added more tools to their offerings, and it is unclear whether they are boosting their sales. For example, they have invested in artificial intelligence tools. Dropbox acquired HelloSign in its bid to become a viable competitor to DocuSign.

Box has also grown its offerings into e-signatures, compliance, and AI document summaries. These solutions will unlikely fuel growth. 

Read more: Nvidia just partnered with Dropbox on AI tools: find out more

BOX and DBX are seeing modest growth

To be clear: Dropbox and Box are still growing their businesses, with the only challenge being that they are not growing fast enough. 

Dropbox’s revenue has risen from $1.66 billion in 2019 to $2.5 billion in 2023. Analysts expect that its growth will remain flat for a while. Its 2024 revenue is expected to be $2.54 billion, a 1.67% from 2023, followed by $2.56 billion next year. 

Box’s revenue has also grown from $696 million in 2019 to over $1.02 billion in 2023. Analysts also expect that its revenue growth will remain in the single digits. Box’s revenue will be $1.09 billion this year, followed by $1.16 billion next year.

In contrast, other Software-as-a-Service (SaaS) companies are still seeing higher revenue growth. For example, Salesforce’s revenue growth will be 8.8% this year, while Adobe will grow by almost 10%. CowdStrike will grow by 28%, while DataDog will have a 25% growth rate.

Read more: Dropbox stock price analysis: why is DBX ailing?

Dropbox and Box stocks are undervalued

The ongoing performance of DBX and Box stocks means that the two companies have become highly undervalued. These valuation metrics are likely because investors have reset their expectations as they moved from being growth to value companies. 

Box has a forward price-to-earnings (P/E) ratio of 16.7, lower than the S&P 500 index average of 21. However, its rule of 40 metric, which is calculated by adding revenue growth and margins, stands at just 17, pointing at overvaluation.

Dropbox has a forward P/E ratio is just 11, much lower than many companies. Also, its rule-of-40 value is 25. 

Box and Dropbox stocks will likely remain under pressure as their growth momentum fades. Also, there are signs that their new products and offerings are not boosting their growth.

A likely solution is for the two companies to be acquired by a private equity company that will then cut costs and maximize their profits. Just this year, Blackstone and Vista Partners acquired SmartSheet, another slowing SaaS company.

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SLV ETF outlook: will the silver price rise or fall in 2025?

The iShares Silver Trust (SLV) had modest returns in 2024 as gold and silver became some of the top-performing commodities of the year. The SLV ETF rose by 24%, making it one of its best years in a long time. So, what next for silver prices in 2025?

While silver price has retreated

Silver price and the SLV ETF have pulled back and entered correction territory in the past few months. It has dropped by over 14% from the year-to-date high, erasing some of the gains made earlier this year.

Silver’s retreat has been more pronounced than gold’s, which fell by over 6% from the year-to-date high. The two have dropped mainly because of profit-taking among investors.

They also retreated because of the Federal Reserve, which delivered its last monetary policy decision of the year. 

In that meeting, the Federal Reserve slashed interest rates by 0.25%, bringing the yearly cuts to 1%. The bank, however, warned that inflation was a major challenge, especially as Donald Trump prepares to become president. 

The Fed, therefore, expects to deliver two interest rate cuts in 2025, much lower than the previous guidance of 4. In a note on Monday, analysts at UBS predicted that the bank will deliver the first cut in June and the next one in December.

However, there are still hopes that the Fed will deliver more than two cuts, especially if the economy deteriorates. For example, a report released by the Conference Board on Monday showed that consumer confidence crashed this month. 

Silver and gold do well when the Fed is dovish, a move that often leads to a weaker US dollar. The US dollar index has recently jumped sharply and moved to $108.50, its highest level since November 2022. 

Catalysts for silver price in 2025

The first catalyst for silver price is that the Federal Reserve makes more cuts to prevent the American economy from moving into a hard landing. Historically, the Fed does not always live up to its expectations on cuts. For example, in December last year, the bank hinted that it would deliver more cuts this year as recession risks rose. Instead, it implemented just three cuts.

The other catalyst is the soaring US debt, pushing investors to an alternative asset like gold. Data shows that the US public debt has jumped to over $36.3 trillion, a trend that will accelerate under Trump.

Trump has pledged to deliver more tax cuts, widening the already large trade deficit. Just last week, he pressured Republicans to remove the debt ceiling for two years, a move that will help him cut taxes, especially for the wealthy.

The risk is that the market will react negatively as it did when Lizz Truss passed unfunded tax cuts in the UK. If this happens, then gold will be a key beneficiary because it has withstood the test of time in the past few years. Silver often has a close correlation with gold.

SLV ETF analysis

SLV chart by TradingView

The other catalyst for the SLV ETF is its technicals. The weekly chart shows that the SLV ETF formed an inverse head-and-shoulders pattern between September 2021 and May 13, one of the most bullish patterns in the market.

The fund has remained above the 50-week moving average. It has also formed a series of higher highs and higher lows. The fund has remained above the ascending trendline that connects the lowest point in June last year.

Therefore, the SLV ETF will likely continue rising in 2025. If this happens, the next important resistance level to watch will be at $31.78. A move above that level will point to more gains in 2025.

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Nifty Bank Index best and worst performers in 2024 revealed

India’s bank stocks had a mixed performance this year as the rupee crashed and as the Reserve Bank of India (RBI) maintained high interest rates. The Nifty Bank Index, which tracks the biggest banks in the country, rose by 7%, underperforming the Nifty 50 index, which rose by about 10%. So, which were the best and worst Indian banks of 2024?

ICICI Bank 

ICICI Bank, the third-biggest Indian bank by assets after State Bank of India (SBI) and HDFC), was the best-performing Nifty Bank Index constituent. Its stock jumped by 30% in 2024, helped by its strong asset growth and profitability.

The most recent results for Q2’25 showed that ICICI Bank’s profit before tax rose by 7.9% YoY to ₹148 billion or $1.78 billion. Its core operating profit rose by 12% as key areas of its business, such as domestic loans, retail loans, and business banking, improved. 

The results showed that retail profits rose to ₹55 billion, while wholesale and treasury jumped to ₹51.9 and ₹46 billion, respectively. ICICI Bank expects its business to continue doing well as loan growth and its digital offerings accelerate. 

SBI 

State Bank of India stock price rose by 27%, making it the second-best performer in the Nifty Bank Index. Like ICICI, SBI’s business has used its scale to continue firing on all cylinders this year.

Its second-quarter of 2025 net profit rose by 27.9% to ₹18,331 crores, while its operating profit jumped by a whopping 50% to ₹29,294 crores. This growth happened as credit growth rose by 14.9% and domestic advances jumped by 15%.

This growth is a sign that the company’s business is doing well even as the Indian economy slows. However, a key risk for the company is that it ended the quarter with a  CET-1 ratio of 9.95%, much lower than what Western banks have. For example JPMorgan, a company known for its fortress balance sheet, has a CET ratio of 15%.

Federal Bank 

Federal Bank share price soared by over 25% in 2024 as the company continued doing well. It was the third best-performing company in the Nifty Bank Index. 

Like ICICI and SBI, the company has published strong results, which have been helped by its physical and digital branches’ growth. Federal Bank said that its net profit rose by 18% YoY in the last quarter, while total income jumped by 25%. Its deposit growth and assets momentum have continued this year.

Most notably, Federal Bank reported the best-ever net profit of ₹1,010 crore in the last quarter, a trend expected to continue.

The other best-performing Nifty Bank Index stocks were Canara Bank, HDFC, and Punjab National Bank.

IndusInd Bank was the main Nifty Bank Index laggard

On the other side, IndusInd Bank was the worst-performing company in the Nifty Bank Index as its stock plunged by 41%. It has also become the worst performer in the Sensex index. 

The main concern is that its microfinance division, whose non-performing loans have jumped in the past few quarters. Delinquencies in the division rose for four consecutive quarters, hitting its profitability. 

The main concern with this Microfinance division is that loans offered are high-risk high-reward, and now the risks are starting to show. As defaults rise, the company has no recourse to recover its money since the loans are unsecured. 

The other top laggards in the Nifty Bank Index are companies like IDFC First Bank, AU Small Finance Bank, and Kotak Mahindra.

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Sweetgreen stock forecast for 2025: will the SG surge resume?

The Sweetgreen stock price has done well this year, and is one of the best performers on Wall Street. SG has soared by 190% in 2024, bringing its market cap to over $4 billion. So, how will the SG stock price perform in 2025?

Sweetgreen has become a popular salad chain

Sweetgreen is a fast-growing restaurant chain that owns and operates 221 salad restaurants in 18 states. It offers 13 core meals, the ingredients of which are mostly sourced from about 200 domestic food partners and farmers. 

Sweetgreen’s business is doing well, with its revenue growth continuing and its losses narrowing. Its annual revenue crashed to $220 million in 2020 because of the Covid-19 pandemic, and then rebounded to over $668 million in the trailing twelve months (TTM).

Most importantly, Sweetgreen’s losses are falling as the company aims to being profitable in the next few years. Its annual loss rose from $141 million in 2020 to $190 million in 2022. It then narrowed the loss to $113 million in 2023 and just $88 million in the TTM. 

Sweetgreen – and CAVA Group – stocks have also surged as investors compared them with Chipotle Mexican Grill (CMG), a company that has become a $83 billion juggernaut in the restaurant industry.

Chipotle’s business grew by focusing on a few dishes and investing in food deliveries and Chipotlane, its drive-through service. 

Sweetgreen growth is slowing

The Sweetgreen stock price has dropped by over 24% from the year-to-date high as concerns about its momentum continue. 

The most recent results showed that its revenue rose to $173.4, a 13% increase from the $153.4 million it made in the same period a year earlier. In contrast, CAVA Group’s revenue rose by 39% to $241 million as it added 11 new stores. Sweetgreen opened 5 new restaurants during the quarter.

Sweetgreen’s revenue growth was on par with that of Chipotle, which grew by 13% to over $2.8 billion. Its total digital revenue was about 55% of its business, while its restaurant-level profit was almost $35 million. 

Analysts expect that Sweetgreen’s revenue will be $163.3 million in the current quarter, a 6.7% increase from the same quarter a year ago. Its revenue is expected to be $679 million for the year, a 16% increase from the same period last year. 

Sweetgreen’s revenue is then expected to surge to $792.57 million in 2025. Also, its loss per share will drop from 56 cents to 4 cents as the management aims for profitability.

A key challenge for Sweetgreen is that its business is highly overvalued, considering that its growth is on par with that of a company like Chipotle. It trades at a forward sales of 5.98, much higher than other restaurant chains

The other big issue is that it is a fairly low-margin business. Sweetgreen’s gross margins stands at about 18%, much lower than Chipotle’s 40% and Cava’s 37%. 

Sweetgreen stock price analysis

Sweetgreen stock chart by TradingView

The daily chart shows that the Sweetgreen share price peaked at $45 in November and then slightly reversed to the current $33.15. This retreat happened after the stock formed a popular bearish chart pattern, a rising wedge. It has dropped below the lower side of this wedge pattern.

The Relative Strength Index (RSI) and the MACD indicators have formed a bearish divergence pattern. Therefore, the short-term outlook for SG stock is bearish, with the next point to watch being at $22.42, its lowest swing in July. It will then stage another rally and possibly soar above its all-time high of $45.

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Elon Musk’s AI startup raises $6B from BlackRock, Nvidia, AMD, and others

xAI has successfully closed its Series C funding round, raising $6 billion with participation from investors such as A16Z, BlackRock, Morgan Stanley, Fidelity Management & Research Company, Lightspeed, and Sequoia Capital, among others.

With this, the company is said to have raised a total of around $12 billion.

Strategic investments from NVIDIA and AMD were also secured, supporting xAI’s efforts to scale its infrastructure rapidly.

The funding will aid the expansion of xAI’s Colossus supercomputer, which currently operates with 100,000 Nvidia Hopper GPUs.

The company plans to double this capacity to 200,000 GPUs using Nvidia’s Spectrum-X Ethernet platform.

The Elon Musk-led company said that funds raised in this financing round will be utilised to enhance our advanced infrastructure, deliver groundbreaking products that will impact billions of people, and expedite the research and development of future technologies, all in support of the company’s mission to understand the true nature of the universe.

xAI’s journey since inception

Since its inception in July 2023, xAI has quickly risen to a reported valuation of $50 billion, positioning itself as a notable competitor to OpenAI, which is valued at $157 billion.

The rapid growth of xAI has outpaced other AI startups, such as Anthropic, with a valuation of $19 billion, and Perplexity, valued at $2.8 billion.

Since the Series B funding in May 2024, xAI has made significant strides in several key areas.

It has built the world’s largest AI supercomputer, Colossus, in 122 days, and is on track to expand it to 200,000 GPUs.

In October, xAI launched an API enabling developers to integrate Grok into third-party apps and platforms.

This move further extends the reach of Grok’s capabilities, allowing external applications to leverage its advanced AI model for a variety of use cases.

Additionally, the Aurora image generation model enhances Grok’s multimodal understanding, editing, and generation capabilities.

Grok now also leverages the 𝕏 platform to provide real-time information, with new features like web search and citations.

Musk was one of the founders of OpenAI but left the company in 2018 after disagreements over its direction.

The billionaire launched his AI startup to compete with OpenAI’s ChatGPT.

Grok’s expansion to iOS

The world’s richest person’s AI startup is developing an iOS app to expand access to its product, as seen in an app store listing.

The listing introduces Grok Beta for iOS, offering free access to xAI’s latest model, Grok 2. “Grok is an AI-powered assistant designed to be maximally truthful, useful, and curious. Get answers to any question, generate striking images, and upload pictures to gain a deeper understanding of your world. With Grok, the universe is in your hands!” the app description reads.

Grok is also available through the Musk-owned X social media platform, where it was recently made free to use.

The chatbot will also be accessible through Grok.com.

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Apple nears $4 trillion valuation: what’s driving its stock surge?

Apple Inc. is on the verge of achieving a $4 trillion market valuation, a record-breaking milestone in the tech industry.

The surge is fueled by investor confidence in the company’s push into artificial intelligence (AI) and hopes for a revival in iPhone sales.

Since November, Apple’s shares have climbed nearly 16%, adding $500 billion to its market capitalization.

Currently valued at $3.85 trillion, Apple far exceeds the combined stock market value of Germany and Switzerland, reaffirming its position as the world’s most valuable company.

This growth comes as Apple integrates generative AI technologies into its ecosystem, a move aimed at enhancing its product lineup and addressing critiques of its slow AI adoption compared to rivals like Microsoft, Nvidia, and Alphabet.

Analysts attribute Apple’s latest rally to expectations that AI-driven enhancements will kickstart a new iPhone supercycle.

Earlier this month, Apple began incorporating OpenAI’s ChatGPT into its devices, following its June announcement to embed generative AI across its apps.

While the holiday season forecast projects modest revenue growth, analysts predict a rebound in iPhone demand by 2025, as AI features become more widely available and geographically diverse.

Bullish outlook for Apple stock

Dan Ives, Global Head of Technology Research at Wedbush Securities, recently emphasized a strong bullish outlook for Apple during a CNBC discussion.

He highlighted the company’s potential to lead the consumer AI revolution, projecting the sale of 240 million iPhones in fiscal 2025.

According to Ives, this optimistic forecast is fueled by advancements in AI integration and Apple’s robust supply chain capabilities.

Ives’ analysis, based on supply chain checks in Asia, suggests that Apple could sell 5 to 10 million more iPhones than Wall Street expects, setting the stage for a strong holiday season.

This optimism is further driven by Apple’s AI strategy, which Ives believes could boost the company’s stock value by $30 to $40 per share.

While the consensus price target from other analysts is $255, Ives has set a much higher target of $300, reflecting his strong confidence in Apple’s growth potential.

Apple vs. Nvidia

Despite its dominance, Apple trails behind Nvidia as the leading AI beneficiary.

Nvidia’s stock has soared over 800% in the past two years, compared to Apple’s doubling during the same period.

Yet, Apple’s price-to-earnings (P/E) ratio recently hit a three-year high of 33.5, surpassing both Nvidia and Microsoft, signaling sustained investor optimism.

However, concerns about high valuations have led some major investors to reduce their stakes.

Warren Buffett’s Berkshire Hathaway, Apple’s top shareholder, has trimmed its holdings this year amid broader market caution.

Despite this, many analysts remain bullish on Apple’s long-term potential.

Apple faces geopolitical risks, including potential retaliatory tariffs under the incoming US administration.

However, analysts believe key products like the iPhone and MacBook are likely to receive tariff exemptions, as they did during the first round of China tariffs in 2018.

Macroeconomic factors also weigh on Apple’s outlook.

A recent Federal Reserve announcement about slower-than-expected rate cuts triggered a broader Wall Street selloff, including a dip in Apple shares.

Nonetheless, tech stocks, including Apple, are increasingly seen as defensive investments due to their consistent earnings growth.

The milestone highlights Apple’s ability to innovate and adapt, cementing its position as a global market leader.

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Sweetgreen stock forecast for 2025: will the SG surge resume?

The Sweetgreen stock price has done well this year, and is one of the best performers on Wall Street. SG has soared by 190% in 2024, bringing its market cap to over $4 billion. So, how will the SG stock price perform in 2025?

Sweetgreen has become a popular salad chain

Sweetgreen is a fast-growing restaurant chain that owns and operates 221 salad restaurants in 18 states. It offers 13 core meals, the ingredients of which are mostly sourced from about 200 domestic food partners and farmers. 

Sweetgreen’s business is doing well, with its revenue growth continuing and its losses narrowing. Its annual revenue crashed to $220 million in 2020 because of the Covid-19 pandemic, and then rebounded to over $668 million in the trailing twelve months (TTM).

Most importantly, Sweetgreen’s losses are falling as the company aims to being profitable in the next few years. Its annual loss rose from $141 million in 2020 to $190 million in 2022. It then narrowed the loss to $113 million in 2023 and just $88 million in the TTM. 

Sweetgreen – and CAVA Group – stocks have also surged as investors compared them with Chipotle Mexican Grill (CMG), a company that has become a $83 billion juggernaut in the restaurant industry.

Chipotle’s business grew by focusing on a few dishes and investing in food deliveries and Chipotlane, its drive-through service. 

Sweetgreen growth is slowing

The Sweetgreen stock price has dropped by over 24% from the year-to-date high as concerns about its momentum continue. 

The most recent results showed that its revenue rose to $173.4, a 13% increase from the $153.4 million it made in the same period a year earlier. In contrast, CAVA Group’s revenue rose by 39% to $241 million as it added 11 new stores. Sweetgreen opened 5 new restaurants during the quarter.

Sweetgreen’s revenue growth was on par with that of Chipotle, which grew by 13% to over $2.8 billion. Its total digital revenue was about 55% of its business, while its restaurant-level profit was almost $35 million. 

Analysts expect that Sweetgreen’s revenue will be $163.3 million in the current quarter, a 6.7% increase from the same quarter a year ago. Its revenue is expected to be $679 million for the year, a 16% increase from the same period last year. 

Sweetgreen’s revenue is then expected to surge to $792.57 million in 2025. Also, its loss per share will drop from 56 cents to 4 cents as the management aims for profitability.

A key challenge for Sweetgreen is that its business is highly overvalued, considering that its growth is on par with that of a company like Chipotle. It trades at a forward sales of 5.98, much higher than other restaurant chains

The other big issue is that it is a fairly low-margin business. Sweetgreen’s gross margins stands at about 18%, much lower than Chipotle’s 40% and Cava’s 37%. 

Sweetgreen stock price analysis

Sweetgreen stock chart by TradingView

The daily chart shows that the Sweetgreen share price peaked at $45 in November and then slightly reversed to the current $33.15. This retreat happened after the stock formed a popular bearish chart pattern, a rising wedge. It has dropped below the lower side of this wedge pattern.

The Relative Strength Index (RSI) and the MACD indicators have formed a bearish divergence pattern. Therefore, the short-term outlook for SG stock is bearish, with the next point to watch being at $22.42, its lowest swing in July. It will then stage another rally and possibly soar above its all-time high of $45.

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MicroStrategy seeks shareholders vote to support for $42B Bitcoin acquisition, stock up 1.3% in premarket

MicroStrategy Inc. announced a special shareholder meeting on Monday to vote on proposals to support its $42 billion Bitcoin purchase plan.

In a filing with the SEC, executive chairman Michael Saylor proposed increasing the company’s authorized Class A shares from 330 million to 10.33 billion, as well as raising the number of authorised preferred shares from 5 million to 1.005 billion.

The proposed changes are intended to help MicroStrategy raise capital through equity financing and fixed-income securities to fund its ambitious Bitcoin acquisition strategy.

In October 2024, the company unveiled the ambitious three-year $42 billion capital plan, the 21/21 Plan, aimed at raising $21 billion in equity capital and $21 billion through fixed-income instruments, such as debt, convertible notes, and preferred stock to buy Bitcoins.

Saylor noted that the proposals would provide the company with more flexibility to raise capital in favourable market conditions.

Proposal 1, which aims to increase the number of authorised shares of Class A common stock, gives the company the flexibility to issue common equity or convertible instruments as needed to raise capital based on market conditions.

Proposal 2, which seeks to increase the number of authorised shares of preferred stock, allows the company to issue preferred stock with terms set by the Board of Directors.

This will expand the types of securities the company can offer under the 21/21 Plan, depending on market conditions.

MicroStrategy’s Bitcoin bet

MicroStrategy has been on a Bitcoin-buying spree, with its holdings now totalling 444,262 BTC, worth over $27 billion.

The company’s stockpile increased by an additional 5,262 BTC on Monday, as it continues to make Bitcoin a central part of its strategy.

On Monday, MicroStrategy announced the sale of $561 million in common stock to purchase an additional 5,262 Bitcoins at an average price of $106,662 per coin.

In the past three weeks, MicroStrategy has purchased a total of 42,162 BTC, worth around $4 billion.

The average price paid for the new Bitcoin stash is approximately 12% above the current market levels.

MicroStrategy’s stock slips on Monday

MicroStrategy’s stock has been on a downward trajectory despite its inclusion in the Nasdaq 100 Index.

On Monday, the MSTR stock price corrected by 8.78%, falling to $332 levels.

This move has extended its weekly losses to 19% and monthly losses to 17.65%.

From its all-time high of $472 in November, the MSTR stock has corrected by 30%. However, it is still up a massive 384% since the beginning of 2024.

In pre-market trading on Tuesday, the stock is up around 1.3%.

Bitcoin’s recent speed bump

Following last week’s all-time high of $108,000, Bitcoin has faced increased selling pressure.

Over the last 24 hours, BTC has corrected by another 1.5%, extending its weekly losses to close to 12%.

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Nifty Bank Index best and worst performers in 2024 revealed

India’s bank stocks had a mixed performance this year as the rupee crashed and as the Reserve Bank of India (RBI) maintained high interest rates. The Nifty Bank Index, which tracks the biggest banks in the country, rose by 7%, underperforming the Nifty 50 index, which rose by about 10%. So, which were the best and worst Indian banks of 2024?

ICICI Bank 

ICICI Bank, the third-biggest Indian bank by assets after State Bank of India (SBI) and HDFC), was the best-performing Nifty Bank Index constituent. Its stock jumped by 30% in 2024, helped by its strong asset growth and profitability.

The most recent results for Q2’25 showed that ICICI Bank’s profit before tax rose by 7.9% YoY to ₹148 billion or $1.78 billion. Its core operating profit rose by 12% as key areas of its business, such as domestic loans, retail loans, and business banking, improved. 

The results showed that retail profits rose to ₹55 billion, while wholesale and treasury jumped to ₹51.9 and ₹46 billion, respectively. ICICI Bank expects its business to continue doing well as loan growth and its digital offerings accelerate. 

SBI 

State Bank of India stock price rose by 27%, making it the second-best performer in the Nifty Bank Index. Like ICICI, SBI’s business has used its scale to continue firing on all cylinders this year.

Its second-quarter of 2025 net profit rose by 27.9% to ₹18,331 crores, while its operating profit jumped by a whopping 50% to ₹29,294 crores. This growth happened as credit growth rose by 14.9% and domestic advances jumped by 15%.

This growth is a sign that the company’s business is doing well even as the Indian economy slows. However, a key risk for the company is that it ended the quarter with a  CET-1 ratio of 9.95%, much lower than what Western banks have. For example JPMorgan, a company known for its fortress balance sheet, has a CET ratio of 15%.

Federal Bank 

Federal Bank share price soared by over 25% in 2024 as the company continued doing well. It was the third best-performing company in the Nifty Bank Index. 

Like ICICI and SBI, the company has published strong results, which have been helped by its physical and digital branches’ growth. Federal Bank said that its net profit rose by 18% YoY in the last quarter, while total income jumped by 25%. Its deposit growth and assets momentum have continued this year.

Most notably, Federal Bank reported the best-ever net profit of ₹1,010 crore in the last quarter, a trend expected to continue.

The other best-performing Nifty Bank Index stocks were Canara Bank, HDFC, and Punjab National Bank.

IndusInd Bank was the main Nifty Bank Index laggard

On the other side, IndusInd Bank was the worst-performing company in the Nifty Bank Index as its stock plunged by 41%. It has also become the worst performer in the Sensex index. 

The main concern is that its microfinance division, whose non-performing loans have jumped in the past few quarters. Delinquencies in the division rose for four consecutive quarters, hitting its profitability. 

The main concern with this Microfinance division is that loans offered are high-risk high-reward, and now the risks are starting to show. As defaults rise, the company has no recourse to recover its money since the loans are unsecured. 

The other top laggards in the Nifty Bank Index are companies like IDFC First Bank, AU Small Finance Bank, and Kotak Mahindra.

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