Streetbeat News

Assets

DOGEUSD

ETHUSD

SHIBUSD

TRXUSD

Vitalik Buterin's tweet in Chinese saying 'We'll learn to meow together' has inadvertently led to the creation of a new memecoin with a ticker symbol '喵喵喵喵' (Chinese for 'meow meow meow meow'), reaching a $5 million market cap within hours. Justin Sun, founder of Tron, supported the coin, promising a listing on his exchange, Poloniex. This event highlights the influence of prominent figures in the crypto space and the volatile nature of memecoins, which can surge in value following endorsements or social media activity.

Portfolio Pulse from Ivan Crnogatić

January 30, 2024 | 5:18 pm

SPY

Institutional investors recorded the second-largest weekly outflow from single stocks since 2008, led by sales in Tech, Discretionary, and Staples sectors. Despite this, the SPDR S&P 500 ETF Trust (SPY) reached new highs. The trend suggests a shift towards diversification, with institutions buying equity ETFs while selling single stocks. Private clients and hedge funds were buying as institutions sold, with a pivot towards mid and small-cap stocks and growth/blend ETFs over value ETFs.

Portfolio Pulse from Piero Cingari

January 30, 2024 | 5:13 pm

AAPL

AMZN

GLD

GOOG

META

MSFT

NVDA

QQQ

SLV

SPY

TSLA

UPS

USO

Microsoft's (MSFT) earnings report is considered the most important this season, with a focus on AI monetization and cloud revenue growth. Whisper numbers are higher than consensus, indicating potential for a significant stock move. UPS (UPS) reported earnings below whisper numbers, suggesting economic weakness, impacting the broader market. Treasury borrowing plans are lower than expected, raising questions about political motives. Layoffs at UPS and IBM's work-from-home policy are noted. Early trades show positive money flows for MSFT, NVDA, and TSLA, neutral for GOOG and META, negative for AAPL and AMZN, and mixed for SPY and QQQ. Gold (GLD) and oil (USO) are seeing buying from the momo crowd, while smart money is inactive. Bitcoin (BTC) is moving higher with speculative stocks.

Portfolio Pulse from The Arora Report

January 30, 2024 | 4:18 pm

EXR

Extra Space Storage (NYSE:EXR) has been evaluated by 7 financial analysts, with a mix of opinions ranging from bullish to indifferent. The average 12-month price target for EXR is $159.71, up 9.52% from the previous target of $145.83. Analysts from firms like Deutsche Bank, Goldman Sachs, Truist Securities, Morgan Stanley, Wells Fargo, and Stifel have adjusted their ratings and price targets, reflecting their views on the company's market position and financial performance. Extra Space Storage is a REIT with a strong market presence, significant revenue growth, high net margin, and effective asset utilization, but with a lower ROE than industry benchmarks.

Portfolio Pulse from Benzinga Insights

January 30, 2024 | 4:00 pm

AMD

An in-depth analysis compares Advanced Micro Devices (AMD) to its competitors in the Semiconductors & Semiconductor Equipment industry. AMD's P/E ratio is significantly higher than the industry average, suggesting an overvalued stock. Its P/B ratio is below the industry average, indicating potential undervaluation by book value. The P/S ratio is also higher than the industry average, hinting at overvaluation by sales. AMD's ROE is below the industry average, suggesting inefficiency in profit generation from equity. The company's EBITDA and gross profit are below the industry average, indicating potential profitability challenges. AMD's revenue growth is lower than the industry average, pointing to a slower sales performance. AMD's lower debt-to-equity ratio compared to its top 4 peers suggests a stronger financial position with less reliance on debt financing.

Portfolio Pulse from Benzinga Insights

January 30, 2024 | 4:00 pm

AYRWF

CBSTF

CRLBF

GTBIF

TCNNF

TSNDF

VRNOF

Florida's legal cannabis market is estimated to reach $2.6B in sales in 2023. The state has a robust medical cannabis market with 871,459 registered patients. The top ten competitors in Florida account for 85% of dispensaries, with Surterra, AYR, Trulieve, Verano, and Curaleaf having significant shares. Green Thumb, Cannabist, Cresco, TerrAscend, and Ascend have little or no presence. Store growth outpaces patient growth, suggesting potential overexpansion. The market anticipates adult recreational use, which could double revenues, but faces legal challenges. The Viridian Cannabis Deal Tracker monitors industry trends and transactions.

Portfolio Pulse from Viridian Capital Advisors

January 30, 2024 | 3:56 pm

AVAXUSD

Avalanche (CRYPTO: AVAX) has seen a 4.16% increase in price over the last 24 hours, reaching $36.01, and a 24.0% gain over the past week from $29.07. Despite the recent gains, it is still well below its all-time high of $144.96. The trading volume has decreased by 2.0% and the circulating supply dropped by 0.58% to 367.07 million, which is approximately 50.98% of the maximum supply. AVAX's market cap is currently ranked #10 at $13.19 billion.

Portfolio Pulse from Benzinga Insights

January 30, 2024 | 3:03 pm

ETHUSD

Ethereum (ETH) has seen a price increase of 3.12% in the last 24 hours, reaching $2,312.31, with a weekly gain of over 4.0%. Despite a 44.0% decrease in trading volume over the past week, Ethereum's market cap remains the second-largest at $277.86 billion. The circulating supply has slightly decreased by 0.47% to 120.18 million coins.

Portfolio Pulse from Benzinga Insights

January 30, 2024 | 3:02 pm

BTCUSD

Bitcoin (BTC) has seen a significant increase of 3.53% in the past 24 hours, reaching a price of $43,402.00. Over the past week, the cryptocurrency has risen over 12%, up from $38,740.63. Despite this growth, it remains below its all-time high of $69,045.00. Trading volume has decreased by 22% over the past week, while the circulating supply has increased by 0.39% to 19.61 million coins, representing 93.4% of the maximum supply. Bitcoin currently holds the #1 market cap ranking at $851.48 billion.

Portfolio Pulse from Benzinga Insights

January 30, 2024 | 3:01 pm

SOLUSD

Solana's (CRYPTO: SOL) price has increased by 9.69% in the last 24 hours, reaching $105.22, and has seen a 29.0% gain over the past week. The coin's all-time high is $259.96. Trading volume has risen by 8.0% over the past week, and the circulating supply has increased by 1.42% to over 435.50 million. Solana's current market cap is $45.86 billion, ranking it #5.

Portfolio Pulse from Benzinga Insights

January 30, 2024 | 3:00 pm