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"The TSA spends billions delivering long lines and outdated tech," Randian stated.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 -- 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 – Italy stocks were higher after the close on Tuesday, as gains in the Financials, Telecoms and Oil & Gas sectors led shares higher.

At the close in Milan, the Investing.com Italy 40 rose 1.22% to hit a new all time high.

The best performers of the session on the Investing.com Italy 40 were Banca Monte dei Paschi di Siena SpA (BIT:BMPS), which rose 2.63% or 0.23 points to trade at 9.13 at the close. Meanwhile, UniCredit SpA (BIT:CRDI) added 2.29% or 1.59 points to end at 70.92 and Mediobanca Banca di Credito Finanziario SpA (BIT:MDBI) was up 2.12% or 0.37 points to 17.78 in late trade.

The worst performers of the session were Moncler SpA (BIT:MONC), which fell 0.54% or 0.30 points to trade at 54.92 at the close. Ferrari NV (BIT:RACE) declined 0.06% or 0.20 points to end at 318.70 and DiaSorin SpA (BIT:DIAS) was 0.00% or 0.00 points to 68.62.

Rising stocks outnumbered declining ones on the Milan Stock Exchange by 386 to 231 and 49 ended unchanged.

Shares in Banca Monte dei Paschi di Siena SpA (BIT:BMPS) rose to 3-years highs; gaining 2.63% or 0.23 to 9.13. Shares in UniCredit SpA (BIT:CRDI) rose to 5-year highs; gaining 2.29% or 1.59 to 70.92.

Crude oil for February delivery was up 0.05% or 0.03 to $58.11 a barrel. Elsewhere in commodities trading, Brent oil for delivery in March fell 0.08% or 0.05 to hit $61.44 a barrel, while the February Gold Futures contract rose 1.13% or 49.10 to trade at $4,392.70 a troy ounce.

EUR/USD was unchanged 0.07% to 1.18, while EUR/GBP unchanged 0.18% to 0.87.

The US Dollar Index Futures was up 0.09% at 97.82.

Investing.com – Germany stocks were higher after the close on Tuesday, as gains in the Technology, Food & Beverages and Industrials sectors led shares higher.

At the close in Frankfurt, the DAX gained 0.57% to hit a new all time high, while the MDAX index added 0.54%, and the TecDAX index climbed 0.62%.

The best performers of the session on the DAX were Infineon Technologies AG NA O.N. (ETR:IFXGn), which rose 2.69% or 0.99 points to trade at 37.73 at the close. Meanwhile, Rheinmetall AG (ETR:RHMG) added 2.29% or 35.00 points to end at 1,561.00 and Bayer AG NA (ETR:BAYGN) was up 1.63% or 0.60 points to 37.01 in late trade.

The worst performers of the session were Bayerische Motoren Werke AG (ETR:BMWG), which fell 0.43% or 0.40 points to trade at 93.14 at the close. Deutsche Boerse AG (ETR:DB1Gn) declined 0.22% or 0.50 points to end at 223.70 and Siemens Energy AG (ETR:ENR1n) was down 0.17% or 0.20 points to 120.40.

The top performers on the MDAX were flatexDEGIRO AG (ETR:FTKn) which rose 2.40% to 36.74, RENK Group AG (ETR:R3NK) which was up 2.33% to settle at 53.62 and TeamViewer AG (ETR:TMV) which gained 1.94% to close at 6.05.

The worst performers were Redcare Pharmacy NV (ETR:RDC) which was down 2.33% to 65.10 in late trade, AUTO1 Group SE (ETR:AG1G) which lost 2.08% to settle at 27.30 and Carl Zeiss Meditec AG (ETR:AFXG) which was down 1.77% to 40.00 at the close.

The top performers on the TecDAX were Siltronic AG (ETR:WAFGn) which rose 3.65% to 48.90, Infineon Technologies AG NA O.N. (ETR:IFXGn) which was up 2.69% to settle at 37.73 and SMA Solar Technology AG (ETR:S92G) which gained 1.97% to close at 34.08.

The worst performers were Carl Zeiss Meditec AG (ETR:AFXG) which was down 1.77% to 40.00 in late trade, IONOS Group SE (ETR:IOSn) which lost 1.11% to settle at 26.75 and Nagarro SE (ETR:NA9n) which was down 0.85% to 76.25 at the close.

Rising stocks outnumbered declining ones on the Frankfurt Stock Exchange by 455 to 188 and 34 ended unchanged.

Shares in Bayer AG NA (ETR:BAYGN) rose to 52-week highs; up 1.63% or 0.60 to 37.01. Shares in flatexDEGIRO AG (ETR:FTKn) rose to all time highs; rising 2.40% or 0.86 to 36.74.

The DAX volatility index, which measures the implied volatility of DAX options, was up 10.16% to 15.00.

Gold Futures for February delivery was up 1.14% or 49.50 to $4,393.10 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in February rose 0.07% or 0.04 to hit $58.12 a barrel, while the March Brent oil contract fell 0.07% or 0.04 to trade at $61.45 a barrel.

EUR/USD was unchanged 0.06% to 1.18, while EUR/GBP unchanged 0.17% to 0.87.

The US Dollar Index Futures was up 0.08% at 97.81.

Investing.com – France stocks were higher after the close on Tuesday, as gains in the Financials, Technology and Consumer Goods sectors led shares higher.

At the close in Paris, the CAC 40 gained 0.69% to hit a new 1-month high, while the SBF 120 index gained 0.67%.

The best performers of the session on the CAC 40 were Societe Generale SA (EPA:SOGN), which rose 2.12% or 1.44 points to trade at 69.40 at the close. Meanwhile, Edenred SA (EPA:EDEN) added 1.60% or 0.30 points to end at 18.77 and Airbus Group SE (EPA:AIR) was up 1.50% or 2.94 points to 198.94 in late trade.

The worst performers of the session were EssilorLuxottica SA (EPA:ESLX), which fell 0.15% or 0.40 points to trade at 270.80 at the close. Schneider Electric SE (EPA:SCHN) declined 0.15% or 0.35 points to end at 235.95 and Publicis Groupe SA (EPA:PUBP) was down 0.04% or 0.04 points to 89.26.

The top performers on the SBF 120 were Eramet SA (EPA:ERMT) which rose 5.25% to 57.15, Ubisoft Entertainment (EPA:UBIP) which was up 4.75% to settle at 6.70 and Solutions 30 SE (EPA:S30) which gained 4.63% to close at 0.99.

The worst performers were Vusiongroup SA (EPA:VU) which was down 0.58% to 204.40 in late trade, Voltalia SA (EPA:VLTSA) which lost 0.51% to settle at 7.76 and Valneva (EPA:VLS) which was down 0.48% to 3.73 at the close.

Rising stocks outnumbered declining ones on the Paris Stock Exchange by 329 to 156 and 86 ended unchanged.

Shares in Societe Generale SA (EPA:SOGN) rose to 5-year highs; rising 2.12% or 1.44 to 69.40.

The CAC 40 VIX, which measures the implied volatility of CAC 40 options, was unchanged 0.00% to 18.96 a new 52-week high.

Gold Futures for February delivery was up 1.11% or 48.35 to $4,391.95 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in February fell 0.02% or 0.01 to hit $58.07 a barrel, while the March Brent oil contract fell 0.15% or 0.09 to trade at $61.40 a barrel.

EUR/USD was unchanged 0.07% to 1.18, while EUR/GBP unchanged 0.16% to 0.87.

The US Dollar Index Futures was up 0.08% at 97.81.

Investing.com – Poland stocks were higher after the close on Tuesday, as gains in the Basic Materials, Food and Chemicals sectors led shares higher.

At the close in Warsaw, the WIG30 rose 0.54% to hit a new all time high.

The best performers of the session on the WIG30 were Jastrzebska Spotka Weglowa SA (WA:JSW), which rose 2.95% or 0.67 points to trade at 23.40 at the close. Meanwhile, KGHM Polska Miedz SA (WA:KGH) added 2.82% or 7.70 points to end at 280.80 and Orange Polska SA (WA:OPL) was up 1.70% or 0.17 points to 10.19 in late trade.

The worst performers of the session were Cyfrowy Polsat SA (WA:CPS), which fell 1.25% or 0.16 points to trade at 12.20 at the close. Bank Millennium SA (WA:MILP) declined 0.95% or 0.16 points to end at 16.63 and X Trade Brokers Dom Maklerski SA (WA:XTB) was down 0.58% or 0.42 points to 71.82.

Rising stocks outnumbered declining ones on the Warsaw Stock Exchange by 381 to 194 and 86 ended unchanged.

Shares in KGHM Polska Miedz SA (WA:KGH) rose to all time highs; up 2.82% or 7.70 to 280.80. Shares in Orange Polska SA (WA:OPL) rose to 5-year highs; up 1.70% or 0.17 to 10.19.

Crude oil for February delivery was up 0.09% or 0.05 to $58.13 a barrel. Elsewhere in commodities trading, Brent oil for delivery in March fell 0.05% or 0.03 to hit $61.46 a barrel, while the February Gold Futures contract rose 0.86% or 37.55 to trade at $4,381.15 a troy ounce.

EUR/PLN was unchanged 0.09% to 4.22, while USD/PLN unchanged 0.05% to 3.59.

The US Dollar Index Futures was up 0.12% at 97.85.