Streetbeat News

Assets

BTCUSD

Bitcoin (BTC) reached new all-time highs, briefly surpassing $69,000, driven by demand following spot Bitcoin ETF approvals and anticipation of the April halving event. Anthony Pompliano of Pomp Investments highlighted the significant inflows into Bitcoin ETFs, notably Blackrock's, which added $1 billion in a day, now totaling over $11 billion. Despite a recent pullback to around $65,000, Pompliano suggests Bitcoin's price could surge, potentially doubling in less than 18 days, similar to past trends post-new highs.

Portfolio Pulse from Adam Eckert

March 05, 2024 | 6:22 pm

AMD

LRNZ

NVDA

TrueMark Investment's CEO, Michael Loukas, discusses the firm's strategy of using actively managed ETFs, particularly in the AI sector, to outperform the market. TrueMark's TrueShares Technology, AI & Deep Learning ETF (LRNZ) has shown significant returns, placing second in its category over six months and one year periods. The firm focuses on high-conviction, concentrated portfolios, including stocks like NVIDIA (NVDA) and AMD (AMD), to achieve superior returns.

Portfolio Pulse from Piero Cingari

March 05, 2024 | 6:19 pm

OXY

Occidental Petroleum (NYSE:OXY) has seen a mix of bullish and bearish options trading activity, with a slight lean towards bearish sentiment. The trading range for the stock is targeted between $55.0 and $67.0 over the next three months. The company's performance shows a slight decrease in stock price to $60.36 with a high trading volume and potential overbought RSI values. Analysts have mixed opinions, with an average target price of $71.0, varying from $62 to $77. Options trading suggests a cautious but potentially profitable approach for investors.

Portfolio Pulse from Benzinga Insights

March 05, 2024 | 6:17 pm

Elon Musk's $44 billion acquisition of X (formerly Twitter) involved financing from personal funds, Tesla stock sales, and contributions from investors like Fidelity, Ark Invest, Baron Funds, and Jack Dorsey. Banks, led by Morgan Stanley (NYSE:MS), are seeking to refinance about $12.5 billion in debt from the deal. Morgan Stanley, which covered a quarter of the debt, reported $876 million in losses from corporate loans in 2022. The banks have agreed not to sell their debt until X is financially stable. Fidelity has adjusted X's valuation, currently at $14.1 billion, amidst a boycott and potential for additional capital raising by Musk.

Portfolio Pulse from Chris Katje

March 05, 2024 | 6:10 pm

ADBE

Financial giants have shown a bearish trend on Adobe (NASDAQ:ADBE) through options trading, with 58% of trades being bearish. The analysis revealed 68 unusual trades, with puts valued at $3,043,098 and calls at $1,125,623. Whales target a price range of $400.0 to $700.0 for Adobe. The most significant trades include both bullish and bearish sentiments, with strike prices ranging from $540.00 to $660.00. Adobe's current stock price is down by -3.58%, trading at $547.59, with an anticipated earnings release in 9 days.

Portfolio Pulse from Benzinga Insights

March 05, 2024 | 6:03 pm

TEAM

Atlassian (NASDAQ:TEAM) has seen unusual options activity indicating a bearish stance by significant investors, with a split sentiment of 40% bullish and 60% bearish. The activity involves 10 uncommon trades, with 8 puts and 2 calls, aiming for a price range of $145.0 to $220.0 over the next three months. Atlassian's current market status shows a slight decrease in stock price by -1.25%, trading at $205.0, with an anticipated earnings release in 58 days.

Portfolio Pulse from Benzinga Insights

March 05, 2024 | 6:03 pm

ETH-USD

On Monday, 17,087.69 Ether (ETH) worth approximately $62.7 million was burned, permanently removing it from circulation. This action follows the Ethereum blockchain's EIP-1159 upgrade on August 5, 2021, which introduced a variable base fee for transactions that is burned. The Ethereum network is currently issuing Ether at a 4% annual rate, expected to decrease to 0.5-1% with the Ethereum 2.0 upgrade, potentially making ETH a deflationary currency. The net annualized issuance rate for Ether was -22.83% yesterday.

Portfolio Pulse from Benzinga Insights

March 05, 2024 | 6:00 pm

BCH

ETC

Bitcoin Cash (BCH) and Ethereum Classic (ETC) experienced declines of 6% and 4.9%, respectively, amid a broader cryptocurrency market pullback following Bitcoin's retreat from a new all-time high. The pullback in Bitcoin often leads to negative sentiment across the market, affecting other cryptocurrencies. Speculative trading and profit-taking or loss minimization strategies by investors during these pullbacks contribute to the volatility of BCH and ETC.

Portfolio Pulse from Henry Khederian

March 05, 2024 | 5:36 pm

AXP

COIN

HOOD

PYPL

SOFI

STNE

TOST

WFC

Today's whale activity in the Financials sector highlighted significant options trading across various stocks, indicating potential trading opportunities. Notable bearish sentiment was observed in AXP, SOFI, SQ, and PYPL call options, while WFC, STNE, COIN, and HOOD call options showed bullish sentiment. TOST call options were bearish, and AX put options were bullish. These activities suggest investors' expectations on the future price movements of these stocks.

Portfolio Pulse from Benzinga Insights

March 05, 2024 | 5:35 pm

ABNB

CVNA

ETSY

TSLA

ULTA

Today's whale activity in the consumer discretionary sector shows significant options trading across various stocks, indicating potential trading opportunities. Notable bearish sentiment is observed in TSLA, ULTA, CVNA, SHAK, DASH, and EAT call options, while JD and ETSY put options exhibit bullish sentiment. ABNB call options also show bullish sentiment, contrasting with the bearish trend in other stocks.

Portfolio Pulse from Benzinga Insights

March 05, 2024 | 5:35 pm