文章核心观点 - 美国经济学家彼得·希夫批评特朗普媒体与技术集团缺乏除与特朗普关联外的任何有意义的内在价值 其频繁的战略转型表明公司缺乏连贯的商业模式 核心资产是政治资本而非业务本身 [1][3][4] 公司战略演变与商业模式 - 公司最初定位为主流社交媒体替代平台 以Truth Social为中心推出 [2] - 因增长停滞和盈利挑战 公司转型为专注于金融科技和加密货币的实体 并计划将比特币作为核心国库资产 [2] - 公司最新战略是与核聚变能源公司TAE Technologies进行全股票合并 再次进行重大转型 [1][3] - 经济学家认为 这些战略转变并非由运营协同效应或已验证的现金流潜力驱动 而是源于特朗普品牌所附着的政治资本 [4] 对TAE Technologies合并案的评估 - 拟议的全股票合并对合并后实体的估值超过60亿美元 [6] - 该交易将使公司成为少数与核聚变研究相关的上市公司之一 [6] - 管理层将交易定位为对清洁能源以及数据中心和人工智能基础设施不断增长的电力需求的长期投资 [6] - 公司计划在本十年晚些时候开始建设公用事业规模的聚变设施 但商业可行性仍不确定 [7] - 经济学家指出 与资本密集、监管严格的核聚变能源公司合并突显了其观点 即获取影响力和获得优惠待遇的预期可能超过其基础业务的价值 [5] - 其认为公司能为能源公司提供的唯一真正价值是政治杠杆 即接触权力以及从特朗普政府获得有利待遇的前景 [5] 市场表现与反应 - 市场对核聚变公告反应波动 消息公布后公司股价大幅上涨 [7] - 截至周五收盘 公司股价报16.09美元 当日涨幅超过8% [7] - 过去五个交易日 股价已上涨超过50% [7] - 考虑到公司今年大部分时间表现挣扎 年内迄今股价下跌超过50% 该交易可能被投资者视为一个受欢迎的机会 [9]

New York, NY, Dec. 19, 2025 (GLOBE NEWSWIRE) -- Launchpad Cadenza Acquisition Corp I (the “Company”) announced today the closing of its initial public offering of 23,000,000 units, which includes 3,000,000 units issued pursuant to the exercise by the underwriters of their over-allotment option in full. The offering was priced at $10.00 per unit, resulting in gross proceeds of $230,000,000. The Company’s units began trading on December 18, 2025 on The Nasdaq Global Stock Market LLC (“Nasdaq”) under the ticke ...

Forward Industries (NASDAQ: FWDI), a Solana digital asset treasury company, announced that its SEC-registered shares are now live on the Solana blockchain through Superstate’s Opening Bell platform marking the first time a public company’s equity can be used directly within decentralized finance (DeFi). Via this integration, ex-US holders of Forward’s tokenized FWDI shares can now “post their equity as collateral on Kamino, one of Solana’s lending protocols.”Eligible investors can borrow stablecoins against ...

You can find original article here WealthManagement. Subscribe to our free daily WealthManagement newsletters. The retirement income planning platform IncomeConductor announced a platform update that enables advisors to integrate existing annuity assets seamlessly into holistic retirement plans, simulate future annuity purchases and compare multiple product options within client income strategies. The new features connect annuity modeling directly to tax planning, RMD tracking and client reporting and a ...

Stock trading platform, Robinhood Markets Inc.’s (NASDAQ:HOOD) CEO, Vlad Tenev, weighed in on the growing political backlash against artificial intelligence (AI), responding directly to concerns raised by Sen. Bernie Sanders (I-VT) over the rapid expansion of AI data centers and their potential societal impact.Bats For Retail Exposure To Private AI CompaniesOn Thursday, in a post on X, Tenev said that the fears surrounding AI are rooted in a growing sense of economic exclusion among everyday Americans. Addr ...

Intercontinental Exchange (ICE), the company behind the New York Stock Exchange (NYSE), is negotiating an investment in crypto payments firm MoonPay as part of a funding round that could value the company at approximately $5 billion, according to a recent Bloomberg report. The potential valuation marks a 47% increase from MoonPay’s previous $3.4 billion valuation, which comes just a month after the company secured approval from the New York Department of Financial Services to position it alongside Coinbas ...

Improved operator economics and expanding institutional interest position Safe Harbor for scalable, compliant growthDENVER, Dec. 18, 2025 (GLOBE NEWSWIRE) -- SHF Holdings, Inc., d/b/a Safe Harbor Financial (NASDAQ: SHFS) (“Safe Harbor” or the “Company”), a provider of banking, lending, and financial services to the legal cannabis industry, announced that the federal rescheduling of cannabis represents a meaningful policy shift with long-term implications for the Company’s platform. The reclassification is e ...

Coinbase is dramatically expanding the assets available to trade on its platform, including novel cryptocurrencies, perpetual futures, stocks and prediction markets, starting with Kalshi. How soon will Coinbase become a Swiss Army knife trading platform? CoinDesk's Jennifer Sanasie hosts "CoinDesk Daily." ...

The Fiserv logo appears on the screen of a smartphone in Reno, United States, on December 1, 2024. (Photo by Jaque Silva/NurPhoto via Getty Images)NurPhoto via Getty ImagesWe believe Fiserv (FISV) stock merits attention: It is growing, generating cash, and is offered at a considerable valuation discount. Companies like these can utilize cash to propel further revenue growth or simply reward their shareholders with dividends or buybacks. Either option renders them appealing to the market. Separately, see – W ...

When Steven Wang was in second grade, he convinced his parents to open a custodial stock account. Now 24 years old, he’s running Dub, a copy-trading platform aimed at solving the financial literacy gap among his peers. A Harris Poll survey commissioned by Dub in June highlights the contradiction: While 60% of Gen Z and 66% of millennials are investing in the stock market outside of their 401(k)s, just 17% of Americans feel “very confident” in their understanding of how markets actually work. Most believe ...