Streetbeat News

Assets

COIN

Coinbase Global Inc (NASDAQ:COIN) shares rose as Bitcoin prices surged past $70,000. Goldman Sachs noted Coinbase's daily volumes reached levels not seen since 2021, prompting analyst Will Nance to upgrade COIN from Sell to Neutral and raise the price target from $170 to $282. The upgrade is based on accelerated retail adoption of crypto, despite its limited use cases, and factors like the Bitcoin halving event, BTC ETFs launch, and increased political and geopolitical uncertainty.

Portfolio Pulse from Priya Nigam

March 08, 2024 | 5:50 pm

AMGN

AMLX

CDMO

LLY

NTRA

PFE

TDOC

UNH

VKTX

Today's session highlighted significant whale activity in the health care sector, focusing on options trading for nine companies. The activity varied, with both bullish and bearish sentiments observed across different stocks, including notable trades in call and put options with varying expiration dates and strike prices. This activity could indicate potential trading opportunities based on the whales' movements.

Portfolio Pulse from Benzinga Insights

March 08, 2024 | 5:35 pm

AMZN

EXPE

TSLA

Today's session highlighted significant options activity for 10 consumer discretionary stocks, indicating potential trading opportunities based on whale alerts. These alerts, tracking large transactions, showed a mix of bullish, bearish, and neutral sentiments across various stocks including TSLA, EXPE, ATMU, WYNN, BURL, PDD, AMZN, GM, PRKS, and BABA. The activity involved both put and call options with varying expiration dates, strike prices, and total trade prices, suggesting diverse market expectations.

Portfolio Pulse from Benzinga Insights

March 08, 2024 | 5:35 pm

AAPL

AMD

AVGO

CSCO

MSTR

NVDA

PLTR

SMCI

Today's session highlighted significant options activity in the Information Technology sector, with notable trades in stocks like NVDA, AAPL, AMD, AVGO, PLTR, CSCO, SMCI, MSTR, S, and ZM. The activity ranged from bullish to bearish sentiments, involving both call and put options with various expiration dates and strike prices. This unusual options activity could indicate potential trading opportunities or market expectations for these companies.

Portfolio Pulse from Benzinga Insights

March 08, 2024 | 5:35 pm

WDAY

Workday's (NYSE:WDAY) short interest has decreased by 8.72% since the last report, with 2.83 million shares sold short, representing 1.36% of its float. This decrease in short interest could indicate a more bullish sentiment towards WDAY among traders. Compared to its peers, Workday has a lower short interest percentage of float (3.74%), suggesting it is performing well against similar companies.

Portfolio Pulse from Benzinga Insights

March 08, 2024 | 5:30 pm

ROST

Ross Stores (NASDAQ:ROST) has delivered an average annual return of 14.99% over the past 10 years, outperforming the market by 4.24%. An investment of $100 in ROST stock a decade ago would be worth $403.84 today. The company's market capitalization stands at $49.09 billion.

Portfolio Pulse from Benzinga Insights

March 08, 2024 | 5:30 pm

RBC

Over the past 15 years, RBC Bearings (NYSE:RBC) has outperformed the market with an annualized return of 21.2%, turning a $100 investment into $1,738.94 today. The company now has a market capitalization of $7.89 billion.

Portfolio Pulse from Benzinga Insights

March 08, 2024 | 5:30 pm

PSTG

Pure Storage (NYSE:PSTG) has seen a decrease in short interest, now at 3.77% of its float, down 13.53% from the last report. With 9.69 million shares sold short, it would take about 3.16 days to cover all short positions. This decline in short interest could indicate a more bullish sentiment towards PSTG among investors. Compared to its peers, PSTG has a lower short interest percentage, with the average for its peer group at 6.65%.

Portfolio Pulse from Benzinga Insights

March 08, 2024 | 5:30 pm

AMG

Affiliated Managers Group (NYSE:AMG) has seen a 5.5% decrease in short interest, now at 2.06% of float with 585k shares shorted. This decline suggests a more bullish sentiment among investors compared to its peers, where the average short interest is 2.62%. Short interest is a key indicator of market sentiment, and a decrease often signals increased investor confidence.

Portfolio Pulse from Benzinga Insights

March 08, 2024 | 5:30 pm

FBTC

GBTC

IBIT

Bitcoin spot ETFs, including Fidelity Wise Origin Bitcoin Fund (FBTC) and Blackrock's IBIT, are experiencing strong net inflows, challenging Grayscale's Bitcoin Trust (GBTC). On March 7, Bitcoin spot ETFs saw $472 million in net inflows, with FBTC alone witnessing $473 million. This has contributed to Bitcoin reaching a new all-time high of $70,000. Grayscale's other products, like GLNK, GLPT, and GSOL, have been upgraded for trading on the OTCQX Best Market. The emergence of new Bitcoin spot ETFs signifies the growing acceptance of cryptocurrency investment products.

Portfolio Pulse from Murtuza Merchant

March 08, 2024 | 5:28 pm