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BTC-USD

COIN

Coinbase experienced a glitch causing users to see a $0 balance, coinciding with a Bitcoin price drop of $2,800. The company is investigating the issue, assuring users their assets are safe. Bitcoin had recently surpassed $60,000, reaching a market cap of nearly $1.2 trillion.

Portfolio Pulse from Benzinga Newsdesk

February 28, 2024 | 6:24 pm

DESK

HPP

ONL

OPI

The commercial real estate (CRE) sector faces a refinancing challenge with $929 billion of mortgages maturing in 2024 amid high interest rates. The U.S. CRE market has seen a significant drop in transactions and rising delinquencies, especially in office and industrial leasing. Goldman Sachs reports a diverse composition of maturing CRE debt, with office properties showing the highest delinquency rates. The VanEck Office And Commercial REIT ETF (DESK) and stocks like OPI, ONL, and HPP have experienced notable declines.

Portfolio Pulse from Piero Cingari

February 28, 2024 | 6:23 pm

SOLUSD

The Solana blockchain's memecoins, including Dogwifhat (WIF), Bonk (BONK), Myro (MYRO), and Anita Max Wynn (WYNN), have shown significant gains, with Dogwifhat leading the rally. Solana (SOL) itself has seen its value increase, reaching $112, surpassing its April 2022 peak. The total value locked on Solana has also risen to $2.2 billion. Despite the gains, a trader highlighted the risks involved in investing in memecoins, pointing out issues like influencer manipulation and lack of developer commitment.

Portfolio Pulse from Khyathi Dalal

February 28, 2024 | 6:03 pm

ARKK

COIN

NVDA

SARK

TARK

TSLA

Cathie Wood's ARK Innovation ETF (ARKK) is underperforming compared to its peers and the broader market, with investors pulling out funds due to missed opportunities, particularly in AI stocks like Nvidia. ARKK's top holdings have mostly seen losses, with Tesla being a significant underperformer. Conversely, Coinbase, its largest holding, has seen gains. In response to ARKK's performance, investors have options with inverse ETFs like SARK and leveraged funds like TARK.

Portfolio Pulse from Johnny Rice

February 28, 2024 | 6:02 pm

BLK

Over the past 15 years, BlackRock (NYSE:BLK) has delivered an average annual return of 15.68%, outperforming the market by 1.45% annually. With a current market capitalization of $119.23 billion, an investment of $100 in BLK 15 years ago would be worth $843.19 today.

Portfolio Pulse from Benzinga Insights

February 28, 2024 | 6:00 pm

POOL

Over the past 5 years, Pool Corporation (NASDAQ:POOL) has outperformed the market with an annualized return of 19.54%, growing a $1000 investment to $2,448.60. The company currently holds a market capitalization of $15.16 billion.

Portfolio Pulse from Benzinga Insights

February 28, 2024 | 6:00 pm

ETHUSD

On Tuesday, 10,256.79 Ether (ETH) worth $34,517,069 was burned, permanently removing it from circulation. This follows the EIP-1159 upgrade to the Ethereum blockchain, which introduced a variable base fee for transactions that is burned. The Ethereum network is currently issuing new Ether at a 4% annual rate, expected to decrease with the Ethereum 2.0 upgrade, potentially making ETH a deflationary currency. The net annualized issuance rate for Ether was -12.21% yesterday.

Portfolio Pulse from Benzinga Insights

February 28, 2024 | 6:00 pm

ALGT

Allegiant's President announced the company expects to receive around 12 aircraft from Boeing in 2024, down from the initial estimate of 24. To mitigate the impact of Boeing's delivery delays, Allegiant has reactivated some used Airbus A320 jets. The first Max jet delivery is anticipated in the coming months. Despite these delays, the President assures that Allegiant's capacity plans will not be significantly affected.

Portfolio Pulse from Benzinga Newsdesk

February 28, 2024 | 5:53 pm

SPY

Fed's Williams stated that the economy and job market are strong, with imbalances decreasing. The current 3.7% unemployment rate is considered around the long-term level, indicating risks to the Fed's job and inflation mandates are moving into a better balance.

Portfolio Pulse from Benzinga Newsdesk

February 28, 2024 | 5:51 pm

IMNM

VKTX

XBI

The biotech sector has seen significant growth in early 2024, with Viking Therapeutics, Inc. (VKTX) and Immunome, Inc. (IMNM) being notable movers. David Prince from T3 Trading Group highlighted the sector's potential for continued growth, driven by large biotech firms seeking new growth opportunities through mergers, acquisitions, and asset purchases. The SPDR S&P Biotech ETF (XBI) has also performed well, reflecting the sector's positive trend. Prince also mentioned the impact of lower interest rates as a future catalyst for the biotech industry.

Portfolio Pulse from Erica Kollmann

February 28, 2024 | 5:51 pm