Dogecoin's November Price Spike

And Oracle, McKesson eye data deal.

November 11, 2024

Today is Monday, November 11, 2024.

The Early Bird Index today is 79.71.

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Dogecoin's November Price Spike

The price of the cryptocurrency Dogecoin surged by about 25% on Sunday and is now up 150% in the last 30 days.

Powering the Story: Dogecoin’s November price spike has coincided with Donald Trump winning the 2024 presidential election. Why? Because Elon Musk is a known supporter of both Trump and Dogecoin.

  • Musk has hinted about a potential new Department of Government Efficiency with the acronym DOGE.

Price: Dogecoin reached its highest value since 2021.

Details: Dogecoin’s recent rise has been so impressive that it has overtaken XRP in market capitalization. It is now the fifth-largest crypto by market cap.

Early Bird’s Nest Egg Gains: Despite the recent price surge, Dogecoin faces challenges due to its lack of substantial real-world applications and ongoing development. Those concerns persist even with Trump in the White House.

Final Thoughts: Other cryptos beyond Dogecoin are also surging in November.

VaultCraft launches V2, TVL skyrockets above $100M

VaultCraft launches V2, partners with Safe, and secures $100M+ in Bitcoin

  • Matrixport, Asia’s leading crypto providers, commits $100M+ in Bitcoin

  • OKX Web3 to launch Safe Smart Vaults with $250K+ in rewards

Notables

Notable Earnings Today: Live Nation Entertainment (NYSE: LYV), Grab Holdings (Nasdaq: GRAB), Monday.com (Nasdaq: MNDY), Luminar Technologies (Nasdaq: LAZR), Zeta Global (NYSE: ZETA), Aramark (NYSE: ARMK), Assured Guaranty (NYSE: AGO), Angi (Nasdaq: ANGI), Asstertio Holdings (Nasdaq: ASRT), DoubleDownIntereactive (Nasdaq: DDI), Global Ship Lease (NYSE: GSL), ICL Group (NYSE: ICL), James River Group (Nasdaq: JRVR),  Lincoln Educational Services (Nasdaq: LINC), Nevro (NYSE: NVRO), Nuwellis (Nasdaq: NUWE), RadNet (Nasdaq: RDNT), Rockwell Medical (Nasdaq: RMTI), Sapiens International (Nasdaq: SPNS), Stereotaxis (NYSE American: STXS), Talos Energy (NYSE: TALO), VAALCO Energy (NYSE: EGY).

Notable IPOs Today: Primo Brands Corporation (NYSE: PRMB), MacKenzie Realty Capital, Inc. Common Stock (Nasdaq: MKZR), Hyliion Holdings Corp. (NYSE American: HYLN).

Notable Equity Crowdfunding Campaigns Ending Today: StartGlobal (Republic), UnVale (Wefunder).

Notable Economic Events Today: N/A.

Oracle, McKesson Eye Data Deal

A potential blockbuster acquisition involving a data company could soon happen, but questions remain about who the buyer might be.

Details: Axios reported Sunday that Oracle (NYSE: ORCL), McKesson (NYSE: MCK), and private equity firm Thoma Bravo are among the final bidders to acquire the data company Veradigm (OTCMKTS: MDRX).

  • The report said a deal could be signed by Thanksgiving.

Final Thoughts: Oracle and McKesson are both surging this year. The stock price for Veradigm is down 10% this year.

Toyota’s Growing China Production

It turns out Toyota Motor (NYSE: TM) wants to pivot its strategy. A report on Sunday from Reuters said the company intends to ramp up production in China by making at least 2.5 million vehicles a year in the country by 2030.

Final Thoughts: Toyota’s stock is down 5% this year.

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The contents of Early Bird are intended for informational and entertainment purposes only. They do not constitute trade or investment recommendations and they are not financial or legal advice. Readers are encouraged to consult licensed professionals for personalized guidance regarding their financial or legal situations.