24H｜DXYZ Surged 5%, Adobe Fell 9% and Hut 8 Mining Soared 15% as Bitcoin Broke above $100K Again

Market Express12-12

Destiny Tech100 Inc (DXYZ) surged 5% as its investment in SpaceX saw a significant valuation increase. SpaceX, Elon Musk's rocket and satellite maker, reached a valuation of $350 billion due to the purchase of insider shares worth $1.25 billion by SpaceX and its investors. The per-share price rose from $112 to $185 in less than three months, making SpaceX the most valuable private startup globally. The positive market sentiment after the US election and recent advancements in rocket launches contributed to this increase in valuation.


Adobe (ADBE) fell 9% after reporting its fourth-quarter earnings. Despite the company posting adjusted earnings of $4.81 per share, beating Wall Street estimates of $4.67 per share, and revenue of $5.61 billion, surpassing expectations of $5.54 billion, the stock declined due to disappointing 2025 fiscal year revenue guidance. Adobe expects revenue between $5.63 billion to $5.68 billion for the first quarter, below the FactSet consensus of $5.72 billion. This has raised concerns among investors about the company's ability to integrate artificial intelligence into its software applications effectively. As a result, Adobe's shares fell 6.4% in after-hours trading.

Hut 8 Mining Corp (HUT) saw its stock soar 15%, as Bitcoin broke above $100,000 again on Wednesday, extending its rally after the US Federal Reserve kept interest rates unchanged. The rise in Bitcoin prices boosted optimism surrounding the cryptocurrency mining sector, including Hut 8 Mining.

EV stocks gained in overnight trading as Tesla shares soared nearly 6% to close at an all-time high of $424.77 Wednesday, marking the stock's first record close in three years after six straight days of gains.

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