Top US Asset Manager Stocks to Watch: RBC Capital

Investing.com -- Randian Capital, a retail activist investor that helped catalyze a monstrous stock jump and management overhaul at Opendoor Technologies Inc (NASDAQ:OPEN)earlier this year, has set its sights on a new target: Clear Secure Inc (NYSE:YOU).

Amid a push for a strategic turnaround at One Group Holdings, Randian is now betting that the Trump administration’s focus on government efficiency will transform Clear from a niche travel perk into a critical pillar of national infrastructure.

In a series of recent posts on X and a statement made to Investing.com, Randian argued that the market is fundamentally mispricing the identity-verification company, failing to account for its potential to replace what the investor calls the "hidden tax" of TSA wait times.

Outsourcing the TSA

The crux of Randian’s thesis rests on the newly formed Department of Government Efficiency (DOGE). With the TSA currently operating on an annual budget exceeding $11 billion, Randian posits that the agency’s inefficiency is not a hurdle for Clear, but a massive total addressable market (TAM) waiting to be unlocked.

"The TSA spends billions delivering long lines and outdated tech," Randian stated. "A real efficiency agenda would outsource major portions, if not all, of airport security to Clear over time. It saves taxpayers billions and gives Americans their time back."

In its statement, Randian emphasized to Investing.com that Clear’s existing infrastructure is the ideal foundation for this transition. "We believe the Clear experience is a great product as shown by consistent positive customer feedback and growth, and the company should take advantage of the DOGE momentum to take over additional parts of the TSA value chain," the investor noted.

By leveraging Clear’s existing biometric infrastructure, Randian suggests the U.S. could see a "GDP increase overnight" as lost productivity in airport terminals is reclaimed. The investor also floated the idea of a potential partnership with Palantir Technologies Inc (NASDAQ:PLTR) to integrate AI-driven automated threat detection and predictive screening.

A "Defense Prime" Valuation

Despite a heavy short interest, currently sitting at roughly 17% of the float, Randian sees a clear path to a multibillion-dollar valuation upgrade. The investor’s model projects:

• Long-term EBITDA: $500 million as the company absorbs TSA functions.

• Valuation Multiple: 15x–20x, consistent with "Defense Prime" stocks characterized by sticky, predictable federal revenue.

• Target Enterprise Value: $7.5 billion to $10 billion, representing a potential 50% to 100% upside from current levels.

To accelerate this value realization, Randian is calling for Clear’s management to overhaul its capital allocation strategy. "The company should seriously consider a modest amount of leverage to increase the pace of repurchases at current attractive levels," Randian told Investing.com, specifically advocating for $200 million to $300 million in aggressive stock buybacks.

Beyond the Airport Gate

While travel remains the core driver, the activist’s thesis extends into the broader "identity economy." In a post-AI world, Randian argues that biometrics will become the gold standard for high-stakes verification, including:

1. Banking and Financial Services

2. Secure Voting Systems

3. Live Event Access

"Identity is a critical vector," Randian noted. "In the AI era, biometrics win. Clear isn’t just an airport company; it’s an identity utility."

Market Sentiment

Wall Street has historically viewed Clear through the lens of discretionary consumer spending, a "nice-to-have" subscription for frequent flyers. Randian’s pivot toward a "Government-as-a-Service" model challenges that narrative.

Clear Secure Inc stock was 0.5% higher on Tuesday, as of 1:00 pm ET.

Investing.com -- DevvStream Corp (NASDAQ:DEVS) stock surged 6.8% Tuesday after the carbon management firm announced a non-binding memorandum of understanding to evaluate a strategic collaboration focused on small modular reactor nuclear power development and sustainable aviation fuel production.

The agreement involves IP3 Corporation, Southern Energy Renewables, and XCF Global Inc (NASDAQ:SAFX), outlining a framework to assess the development of zero-carbon nuclear electricity from small modular reactors to support clean fuel production and energy-intensive markets like AI data centers.

The proposed collaboration aims to advance reliable nuclear power to enable continuous electrolysis, hydrogen production, and downstream fuel synthesis. The parties also intend to evaluate environmental-attribute structures associated with electro-sustainable aviation fuel (eSAF) and related low-carbon fuel pathways.

"Together, we are exploring real-world asset and tokenized environmental-asset frameworks with the potential to unlock additional value, improve liquidity, and help lower the delivered cost of clean energy and fuels," said Sunny Trinh, Chief Executive Officer of DevvStream. "We see this as a potential America-first model that combines U.S. resources, digital infrastructure, and scalable markets."

The MOU also contemplates future development of digital infrastructure to enhance transparency, including tokenization of eligible environmental assets and the use of digital measurement, reporting, and verification systems.

Any specific collaboration arrangements, investments, or project development activities remain subject to confirmatory due diligence, negotiation and execution of definitive agreements, internal corporate approvals, and any required regulatory approvals.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Investing.com-- U.S. stocks were little changed on Tuesday after Wall Street ended lower with tech losses, while investors navigated another holiday-shortened trading week and awaited fresh signals on the Federal Reserve’s policy outlook.

At 09:32 ET (14:32 GMT), S&P 500 was unchanged at 6,906, while Nasdaq 100 and Dow Jones Industrial Average both fell 0.1%.

The moves reflected thin liquidity as many market participants remain away from their desks ahead of the New Year holiday on Thursday.

Wall St dips on tech losses; Fed minutes awaited

Wall Street closed lower on Monday, marking a second straight day of declines for the S&P 500, as heavyweight tech stocks retreated amid year-end profit-taking. The NASDAQ Composite and the Dow Jones Industrial Average declined 0.5% each.

Investors trimmed exposure to high-flying technology shares after a strong rally earlier in December that had pushed major indexes to or near record highs.

Market attention later on Tuesday is set to turn to the release of minutes from the Federal Reserve’s most recent policy meeting.

Investors will scrutinize the details for clues on how policymakers assess inflation trends, labor market conditions, and the appropriate path for interest rates, particularly as markets continue to price in potential easing in 2026.

The minutes could influence near-term market direction in an otherwise light week for economic data, with trading volumes expected to remain subdued due to the holiday calendar. U.S. markets will be closed later this week for the New Year holiday, further limiting participation.

Traders weigh seasonal optimism 

Seasonal factors have also been in focus, with investors watching closely for a so-called Santa Claus rally, a period that typically spans the final days of December and the first sessions of January and has historically been associated with positive equity returns.

Optimism around this seasonal pattern had helped support stocks earlier this month, though recent declines have raised questions about whether the rally will fully materialize this year.

Despite the recent softness, U.S. equities remain on track to post solid gains for the year, underpinned by expectations of eventual monetary easing, resilient economic growth and strong corporate earnings.

(Ayushman Ojha contributed to this report.)

Investing.com -- Prediction markets are drawing ever-increasing attention after demonstrating what Clear Street analysts called “materially greater accuracy than traditional polling methodologies” during the 2024 U.S. presidential election cycle. 

In a new report, Clear Street said the sector is increasingly viewed as “credible, real-time mechanisms for forecasting and information discovery,” rather than purely speculative trading venues.

The firm estimates that the total addressable market for prediction markets could reach $14 billion by 2030, supported by $1.2 trillion in trading volume. 

Analyst Owen Lau wrote that this represents a sharp increase from $440 million in revenue and $47 billion in trading volume expected in 2025. 

Even so, Clear Street cautioned that some near-term forecasts may “overestimate short-term potential,” while long-term projections may “underestimate the value of both historical and real-time data generated” by these platforms.

The firm also expects the industry to evolve materially. The report argues that “prediction market platforms could evolve into data and analytics companies,” with fee pressure and growing competition likely pushing firms to diversify away from transactions. 

The analysts forecast that data could contribute as much as 30% to 50% of future revenue.

Lau stated that 2026 could become a “breakthrough year” for the sector, citing the expected entrance of Coinbase, Gemini, Polymarket (U.S.), FanDuel and DraftKings, alongside major global events including the FIFA World Cup and U.S. midterm elections.

Within its coverage, Clear Street highlighted two companies that stand out. The analyst wrote that “COIN and CRCL are well positioned to benefit from the rise of prediction markets.”

Investing.com -- Nvidia is in advanced negotiations to acquire AI21 Labs for $2-3 billion, according to a Tuesday report from Israeli media outlet Calcalist.

This would mark Nvidia’s fourth acquisition in Israel and its second largest after Mellanox. The deal primarily targets AI21’s workforce of approximately 200 employees, most with advanced academic degrees and rare experience in artificial intelligence development. The acquisition price represents about $10-15 million per employee.

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AI21 Labs is one of the few Israeli companies developing a large-scale language model for artificial intelligence. The company’s last known valuation was $1.4 billion following a capital raise in 2023.

Reports from last summer suggested AI21 completed a $300 million fundraising round led by Nvidia and Google, though these publications were never confirmed by the company.

Founded in 2017 by Amnon Shashua and two others, AI21 has benefited from the boom in artificial intelligence, attracting significant interest from venture capital firms and investors. Shashua is also the founder and CEO of Mobileye.

Investing.com -- European equity markets made gains on Tuesday, extending a pattern of thin trading as investors wind down activity ahead of the New Year holiday.

The pan-European STOXX 600 closed 0.6% higher as liquidity remains light. The index is on track to close the year with a gain of roughly 18% despite persistent macro and geopolitical headwinds.

In London, the FTSE 100 rose around 74 points, or around 0.8%, to 9,954.32, above its record high of 9,930 reached in mid-November. Mining stocks were among the best performers, helped by strength in precious metals prices, with Fresnillo climbing more than 5%. The DAX in Germany rose 0.6%, while France’s CAC 40 gained 0.7%.

In Asia, Japan’s Nikkei 225 remained in focus after closing above the 50,000 level. The index finished the session down 187.44 points, or 0.4%, at 50,339.48, but still marked a strong annual gain of more than 26%. 

Looking ahead, investors are awaiting further clues on the outlook for U.S. monetary policy, with minutes from the Federal Reserve’s latest meeting due later in the day. Markets are weighing the scope for additional rate cuts in 2026, particularly as inflation dynamics and growth momentum remain uneven.

Geopolitical risks are also back in focus. Uncertainty around the Ukraine peace process resurfaced after Russia accused Ukraine of striking President Vladimir Putin’s residence, an allegation made without evidence. The development adds a fresh layer of tension and could complicate ongoing U.S.-brokered diplomatic efforts.w