Streetbeat News

Assets

LGIH

LGI Homes (NYSE:LGIH) has seen a 3.9% decrease in short interest, now at 2.17 million shares or 12.57% of float, taking 15.44 days on average to cover. This decline in short interest could indicate a more bullish sentiment towards LGIH compared to its peers, where the average short interest is 4.81% of float.

Portfolio Pulse from Benzinga Insights

February 07, 2024 | 6:00 pm

Bunge Global's (NYSE:BG) short interest has increased by 23.45% since the last report, with 4.78 million shares sold short, representing 4.37% of its float. This indicates a bearish market sentiment, although it doesn't necessarily predict a near-term price drop. Compared to its peers, BG has a higher short interest percentage of float (4.37% vs. the peer group average of 1.89%), suggesting more bearish sentiment towards BG than its peers.

Portfolio Pulse from Benzinga Insights

February 07, 2024 | 6:00 pm

ETHUSD

On Tuesday, 7,690.44 Ether (ETH) worth $18,528,199 was burned, permanently removing it from circulation. This action follows the EIP-1159 upgrade to the Ethereum blockchain, which introduced a variable base fee for transactions that is burned, reducing Ether's supply. The current issuance rate of new Ether is 4% per year, expected to drop to 0.5-1% with the Ethereum 2.0 upgrade, potentially making ETH a deflationary currency. The net annualized issuance rate for Ether was -8.41% yesterday.

Portfolio Pulse from Benzinga Insights

February 07, 2024 | 6:00 pm

USO

Oil traders have increased their holdings in crude oil futures to the highest levels in nearly a year, anticipating a price rise despite recent stagnation. The Nymex WTI crude oil futures contract saw a slight increase, trading at $73.83 per barrel, with a 3% rise in early 2024. The United States Oil Fund ETF (USO) also saw a minor uptick. Despite geopolitical tensions in the Middle East, the market remains range-bound, with speculative net positions decreasing since October 2023. U.S. gas prices are rising, with a notable increase in gasoline demand.

Portfolio Pulse from Neil Dennis

February 07, 2024 | 5:49 pm

PNC

PNC Financial Services Group's (NYSE:PNC) short interest has increased by 10.07% since the last report, with 6.06 million shares sold short, representing 1.53% of available shares. It would take approximately 2.8 days to cover these short positions. The rise in short interest suggests a more bearish market sentiment towards PNC, although it doesn't necessarily predict a price drop. PNC's short interest is higher than its peer group average of 0.77%.

Portfolio Pulse from Benzinga Insights

February 07, 2024 | 5:45 pm

KDP

Keurig Dr Pepper (NYSE:KDP) has seen a decrease in short interest, with the current short percent of float at 1.21%, down 3.2% from the last report. The company has 11.45 million shares sold short, requiring 1.34 days on average to cover. This decline in short interest could indicate a more bullish sentiment towards KDP compared to its peers, where the average short interest as a percentage of float is 7.84%.

Portfolio Pulse from Benzinga Insights

February 07, 2024 | 5:45 pm

GDDY

GoDaddy's (NYSE:GDDY) short interest has decreased by 6.46% since the last report, with 2.67 million shares sold short, representing 2.46% of its float. This decline in short interest could indicate a more bullish sentiment towards GDDY among traders. The current short interest is below the peer group average of 6.13%, suggesting GoDaddy is performing well compared to its peers in terms of market sentiment.

Portfolio Pulse from Benzinga Insights

February 07, 2024 | 5:45 pm

MSTR

MicroStrategy Inc. co-founder Michael Saylor emphasized Bitcoin's potential as an institutional asset class and store of value, predicting 2024 as the year Bitcoin becomes an institutional-grade asset. He compared Bitcoin's evolution to significant financial milestones like the creation of gold ETFs and the S&P index ETF. Saylor highlighted Bitcoin's transition from an unregulated retail asset to a regulated institutional asset, likening it to the digital transformation seen in tech companies like Microsoft, Google, and Apple. He also mentioned the growth of new job opportunities within the Bitcoin industry and argued that Bitcoin ETFs represent a catalytic moment, shifting the narrative towards Bitcoin as a significant store of value.

Portfolio Pulse from Murtuza Merchant

February 07, 2024 | 5:42 pm

AFRM

BLK

CMA

COIN

KEY

NYCB

RILY

WAL

Today's session highlighted significant whale activity in the financial stocks options market, with notable trades in NYCB, RILY, WAL, WU, CMA, KEY, C, COIN, AFRM, and BLK. The activity ranged from bullish to bearish sentiments across various expiration dates and strike prices, indicating diverse market expectations and strategies among large investors.

Portfolio Pulse from Benzinga Insights

February 07, 2024 | 5:35 pm

AMZN

CMG

EBAY

PDD

RRR

TSLA

WING

Today's session revealed significant whale activity in the options market for 10 consumer discretionary stocks, indicating potential trading opportunities. The activity included both bearish and bullish sentiments across various expiration dates and strike prices for companies like TSLA, AMZN, M, PDD, CMG, EBAY, HD, WING, LI, and RRR. This unusual options activity could suggest expectations of future price movements in these stocks.

Portfolio Pulse from Benzinga Insights

February 07, 2024 | 5:35 pm