In Bend, Oregon, local authorities were on the lookout for pranksters after they had to shell out $1,500 to remove googly eyes that were mysteriously stuck on statues around town. A blink, and they were gone—just as quickly as they appeared.

Meanwhile, U.S. stock indexes faced a slow start to the year, struggling to shake off a post-holiday slump as they dipped on the first day of trading. Bitcoin ETFs saw a surge, with traders betting that President-elect Trump would fulfill his campaign promise of building a bitcoin reserve.

California vs. Tesla: EV Rebates and Political Tensions

California Governor Gavin Newsom plans to introduce state-level electric vehicle rebates if President-elect Trump eliminates the federal EV tax credit, but Tesla may be excluded from the program. News of Tesla’s potential disqualification caused its stock to drop, especially as Trump considers scrapping the $7,500 federal credit—a move supported by his ally, Elon Musk. Newsom’s office justified the exclusion as a way to foster competition in the EV market, prompting Musk to criticize the plan as “insane,” highlighting that Tesla is California’s sole EV manufacturer.

The conflict underscores a broader battle between Newsom’s climate initiatives, including a ban on new gas-car sales by 2035, and Trump’s rollback of environmental regulations. Trump previously revoked California’s ability to set its own emissions standards and withdrew the U.S. from the Paris climate agreement. Despite Tesla’s dominance—accounting for over half of California’s EV sales last quarter—excluding the company from rebates may hinder the state’s clean energy goals. However, some speculate Musk supports ending EV tax credits to solidify Tesla’s market leadership.

Just Ahead...

Happy Public Domain Day! January 1 marks the annual release of creative works whose copyrights have lapsed, and this year, intellectual property from 1929 is now free to use. That means beloved characters like Popeye the Sailor and Tintin, as well as works by William Faulkner and Virginia Woolf, are up for grabs. 1929 also saw the transition from silent films to talkies, so Alfred Hitchcock’s first sound film, Blackmail, could be ripe for a modern remake. (Bonus trivia: Blackmail was Hitchcock's first venture into the world of sound.)

In recent years, Hollywood’s Golden Age properties have gradually started to filter into the public domain, opening up a treasure trove for creators and entrepreneurs alike.

A Surprising Goldmine: In 2022, a horror movie featuring a newly public version of Winnie the Pooh became an unexpected hit, earning $7.7 million worldwide on a shoestring budget of under $100,000. Now, horror films starring Popeye are already in development, capitalizing on the growing interest in these once-protected characters.

A 20-Year Battle: Copyright holders, including major players like Disney, have fought hard to extend protections. In the 1990s, Disney lobbied for a 95-year copyright term, up from 75 years, leading to the passage of the so-called "Mickey Mouse Protection Act" in 1998. This move effectively halted the flow of new works into the public domain until 2019. Critics argue that these extended protections stifle cultural innovation, while supporters claim they incentivize new creations. Disney, in particular, has built a reputation for aggressively defending its intellectual property, frequently filing lawsuits and issuing takedown notices online.

Intellectual Property: A Double-Edged Sword: While original IP is undeniably valuable, spinoffs and adaptations can also become cultural phenomena. Take Wicked, the hit musical inspired by The Wonderful Wizard of Oz. It’s currently shattering box-office records. But while Dorothy’s story is open for creative interpretation, MGM’s 1939 film version still holds copyright protection on iconic elements like the ruby slippers, which won’t fall into the public domain until 2030.

Quick Signal

• Trump’s proposed 25% tariffs on Mexican and Canadian imports could drive up prices on oil, cars, food, and beer—impacting brands like Constellation Brands’ Modelo (STZ $221.65, +0.59%).
• Kohl’s (KSS $13.99, +1.30%) saw its stock tumble 17% after posting its worst quarterly profit since 1999 (excluding 2020).
• Abercrombie & Fitch (ANF $149.00, -3.34%) continues to shine with robust sales growth and an optimistic holiday outlook.
• JM Smucker is riding high on its Uncrustables craze, projecting over $900M in sales this year after a 16% quarterly growth in sandwich sales.
• Best Buy (BBY $85.80, -0.02%) reported its 12th consecutive quarter of declining same-store sales as demand for electronics and appliances wanes.

Advertiser's disclosures:

¹ The rankings are based on submitted applications and public company database research, with winners selected based on their fiscal-year revenue growth percentage over a three-year period.

² Mode Mobile recently received their ticker reservation with Nasdaq ($MODE), indicating an intent to IPO in the next 24 months. An intent to IPO is no guarantee that an actual IPO will occur.

³ December 23, 2024 will be the last day to invest and be considered a shareholder in 2024. Any investments made after this date will only be considered shareholders starting in 2025.

⁴ Please read the offering circular and related risk at invest.modemobile.com. This is a paid advertisement for Mode Mobile’s Regulation A+ Offering.

Past performance is no guarantee of future results. Investing in private company securities is not suitable for all investors because it is highly speculative and involves a high degree of risk. It should only be considered a long-term investment. You must be prepared to withstand a total loss of your investment. Private company securities are also highly illiquid, and there is no guarantee that a market will develop for such securities.
DealMaker Securities LLC, a registered broker-dealer, and member of FINRA | SIPC, located at 105 Maxess Road, Suite 124, Melville, NY 11747, is the Intermediary for this offering and is not an affiliate of or connected with the Issuer. Please check our background on FINRA's BrokerCheck.

‍