1. Ukraine Strikes Russian Military Facilities
2. Prominent Wall Street Prosecutor Resigns
3. MicroStrategy Buys Another 51,780 Bitcoin
4. Supermicro Signs New Audit Firm
5. Robinhood Acquires Investment Advisory Platform
6. Israel Offers Bonuses for Hostage Releases
7. Xpeng’s 93% Stock Rally Faces a Test
1. Ukraine Strikes Russian Military Facilities
For the first time, Ukraine launched attacks on Russian military facilities in border regions using long-range ATACMS missiles provided by Western allies. In response, Russian President Vladimir Putin has authorized the potential use of nuclear weapons.
The sudden escalation of the war has unsettled global investors, driving up the prices of traditional safe-haven assets such as government bonds, the Japanese yen, and the Swiss franc.
The Russia-Ukraine war has now lasted over 1,000 days, with neither side gaining a decisive advantage. Meanwhile, Ukraine’s allies increasingly believe President Zelensky may need to make compromises to facilitate a potential ceasefire.
Source：Bloomberg – Ukraine Carries Out First Strike With US Missiles in Russia
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2. Prominent Wall Street Prosecutor Resigns
Damian Williams, the well-known U.S. Attorney for the Southern District of New York, has privately informed colleagues that he plans to step down before Trump takes office in January, ending his nearly four-year tenure.
Last week, Trump announced that he intends to appoint Jay Clayton, the former SEC Chairman before 2020, as Williams’ successor.
Williams has handled major Wall Street criminal cases, including the prosecutions of Sam Bankman-Fried (FTX) and Bill Hwang (Archegos Capital Management).
As a Biden appointee, Williams’ replacement under a new administration was widely expected.
Source：Bloomberg – Wall Street’s Top Cop Plans to Exit Before Trump Takes Power
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3. MicroStrategy Buys Another 51,780 Bitcoin
According to SEC filings released Monday, software firm MicroStrategy purchased 51,780 Bitcoin between November 11 and November 17, at a total cost of $4.6 billion. The company had previously announced plans to raise capital and increase its Bitcoin holdings.
Between October 31 and November 10, MicroStrategy acquired more than 27,000 Bitcoin, following two large purchases in September. The company’s total Bitcoin holdings now exceed $30 billion.
Last night, MicroStrategy announced plans to continue financing Bitcoin purchases by issuing $17.5 billion in convertible senior notes.
As the largest corporate Bitcoin holder, MicroStrategy’s total acquisition cost is $16.5 billion—significantly lower than its current market value.
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4. Supermicro Signs New Audit Firm
Supermicro (SMCI) announced that it has submitted a 10-K annual report filing request to Nasdaq and has appointed a new independent auditing firm, BDO USA.
SMCI stated that it aims to complete its fiscal year 2024 annual report and the last quarter’s 10-Q report soon, ensuring it meets standard financial disclosure requirements moving forward.
If Nasdaq approves Supermicro’s filing extension, the deadline for submitting its 10-K and 10-Q reports could be pushed to February next year, allowing the company to maintain its listing status unless a final delisting decision is made.
Following the announcement, SMCI’s stock surged nearly 30% today.
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5. Robinhood Acquires Investment Advisory Platform
Stock trading platform Robinhood announced it will acquire TradePMR, a wealth management and custody platform serving registered investment advisors (RIAs), in a bid to attract more high-net-worth investors.
The deal, valued at $300 million in cash and stock, is expected to close by June next year. Upon completion, investment advisors on the TradePMR platform will gain access to Robinhood’s customer base.
With intense competition in the retail trading industry, firms are expanding their services to include cryptocurrency trading, credit cards, and even political event betting. Robinhood is still far from competing with asset management giants like Charles Schwab and Fidelity.
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6. Israel Offers Bonuses for Hostage Releases
Israeli Prime Minister Benjamin Netanyahu announced today that any Gaza resident who helps Israeli hostages escape the war zone will receive a $5 million reward per hostage and be granted asylum.
Since the war between Hamas and Israel began over a year ago, many Israeli citizens have been taken hostage. Netanyahu has promised their families that he will bring them home, but so far, he has struggled to fulfill that commitment. The financial incentive is seen as a desperate measure.
Netanyahu also warned that anyone harming Israeli hostages “will be found and will pay a heavy price.”
According to official estimates, about 100 Israeli hostages remain in Gaza, though 40 are believed to have already died.
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7. Xpeng’s 93% Stock Rally Faces a Test
Xpeng’s (XPEV) Hong Kong-listed shares have surged 93% from their August lows, outperforming Tesla and Nio.
The Chinese EV maker set a new monthly delivery record in October. However, in its latest earnings report, Xpeng forecasted continued losses despite five consecutive quarters of year-over-year revenue growth.
Analysts at Huatai Asset Management noted that Xpeng was once a prime target for short sellers, but investor sentiment is shifting as the company’s sales momentum improves. New EV models could further support the stock.
Options market data shows that bearish bets against Xpeng are decreasing.
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This content is sourced from Financial Times, Bloomberg, and The Real Deal, among other financial news outlets.