The Week’s Investing News Roundup: Betting Big on China, Crypto, and More

In the past week:

• Honda and Nissan announced merger plans. Tesla recalled vehicles.
• Google made a counteroffer to avoid being broken up. OpenAI, Palantir, and SpaceX teamed up to bid on defense contracts.
• The Starbucks worker strike expanded to hundreds of stores. Walmart was accused of illegally opening bank accounts for its delivery drivers.
• The Nordstrom family said it would take the retailer private. The Container Store filed for bankruptcy. Big Lots said it would close all of its stores.
• The White House launched a probe into Chinese semiconductors. Banks sued the Federal Reserve over annual stress tests.
• Durable goods orders declined and consumer confidence dipped. Mortgage rates rose to a multimonth high. Eggs and pork products were recalled.

Michael Burry rocketed to fame after earning a $1 billion profit shorting the market during the housing market bubble in the 2000s. His hedge fund is now betting big on China and has increased stakes in Alibaba Group Holding Ltd. (NYSE: BABA) and other leading tech stocks.

Driven by its speech technology, SoundHound AI Inc. (NASDAQ: SOUN) has enjoyed an exponential rise in its stock. Though the company is not yet profitable, the potential for adoption by bigger chains or acquisition by a major player is significant.

XRP has become one of the most prominent cryptocurrencies investors are looking at following the re-election of Donald Trump. See why a $3 price target on this token looks like a reasonable level for investors to target in 2025.

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By Trey Thoelcke