Streetbeat News

Assets

DOGE-USD

Dogecoin (CRYPTO: DOGE) has seen a 4.45% increase in price over the last 24 hours, reaching $0.08, despite a 1.0% decline over the past week. The coin's all-time high is $0.73. Trading volume has decreased by 19.0%, while the circulating supply has risen by 0.36% to 142.86 billion. Dogecoin's market cap is currently ranked #11 at $11.68 billion.

Portfolio Pulse from Benzinga Insights

January 29, 2024 | 7:01 pm

DOTUSD

Polkadot's (CRYPTO: DOT) price has risen 7.43% in the last 24 hours, reaching $7.1, continuing a weekly upward trend with an 8.0% gain from $6.47. The coin's all-time high is $54.98. Trading volume increased by 25.0%, and circulating supply grew by 0.63% to over 1.32 billion, with a market cap ranking of #13 at $9.44 billion.

Portfolio Pulse from Benzinga Insights

January 29, 2024 | 7:00 pm

LUV

Southwest Airlines (NYSE:LUV) has seen a 12.16% decrease in short interest, with 20.61 million shares sold short, representing 3.9% of available shares. The average time to cover these short positions is 2.59 days. A decrease in short interest may indicate a more bullish sentiment among investors. Compared to its peers, Southwest has a lower short interest as a percentage of float, with the peer group average at 8.86%.

Portfolio Pulse from Benzinga Insights

January 29, 2024 | 6:30 pm

SOL-USD

The Solana-based memecoin Wen (CRYPTO: WEN) reached a market cap of over $150 million within three days of trading, following an airdrop to over a million users. Wen surpassed the market cap of another Solana memecoin, Myro (CRYPTO: MYRO). A trader made $1.6 million by buying Wen early and selling a portion of it. Jupiter (CRYPTO: JUP), Solana's largest DEX aggregator, is also planning an airdrop for eligible users.

Portfolio Pulse from Khyathi Dalal

January 29, 2024 | 6:13 pm

ETHUSD

On Sunday, 2,561.44 Ether (ETH) valued at approximately $5.9 million was burned due to the EIP-1159 upgrade implemented on the Ethereum blockchain, which introduced a variable base fee for transactions that is permanently removed from circulation. This has led to a net annualized issuance rate of -0.18% for Ether, indicating a move towards a deflationary currency, especially with the anticipated Ethereum 2.0 upgrade that is expected to further reduce the issuance rate.

Portfolio Pulse from Benzinga Insights

January 29, 2024 | 6:00 pm

GILD

HOOK

MRK

RHHBY

Roche Holdings AG (OTC:RHHBY) has terminated its collaboration with HOOKIPA Pharma Inc (NASDAQ:HOOK) on the HB-700 program for KRAS mutated cancers. HOOKIPA will regain full control of the program in April 2024 and plans to submit an IND in Q1 2024, seeking a new partner. HOOKIPA is refocusing on its HB-200 program for HPV16+ HNSCC and infectious disease programs with Gilead Sciences Inc (NASDAQ:GILD). The company will reduce its workforce by 30% and rebalance costs. HOOKIPA's cash position was $117.5 million as of December 31, 2023, bolstered by Gilead's purchase of 15 million shares in December. HOOKIPA's stock price dropped 15% to $0.59.

Portfolio Pulse from Vandana Singh

January 29, 2024 | 5:55 pm

COIN

MARA

RIOT

Portfolio Pulse from Benzinga Newsdesk

January 29, 2024 | 5:26 pm

AMZN

GOOG

META

MSFT

NVDA

SOXL

Nvidia Corp (NVDA) faces increasing competition in the AI chip market from tech giants like Amazon (AMZN), Alphabet (GOOG/GOOGL), Meta Platforms (META), and Microsoft (MSFT), who are developing their own AI chips to reduce dependency on Nvidia's GPUs. Despite this, Nvidia maintains over 70% of AI chip sales and is seen as a key beneficiary in the AI space. The company's sales surged by 206%, adding about a trillion dollars to its market value. Nvidia's significant exposure to China is a concern due to U.S. semiconductor industry sanctions. The Direxion Daily Semiconductor Bull 3x Shares (SOXL), which includes Nvidia, saw a slight increase in its share price.

Portfolio Pulse from Anusuya Lahiri

January 29, 2024 | 5:22 pm

CSCO

NVDA

Wall Street analyst Ed Yardeni compares Nvidia's (NVDA) current rally to Cisco's (CSCO) 1990s run, suggesting NVDA could have more upside before a potential crash. Nvidia's stock has surged 265% since ChatGPT's release, outpacing the S&P 500 Semiconductor Index. Yardeni notes the market's expectation of interest rate cuts as inflation seems under control, which could lead to a market melt-up. However, he warns of the risk of a speculative bubble similar to the dot-com era if the Fed cuts rates prematurely.

Portfolio Pulse from Piero Cingari

January 29, 2024 | 4:41 pm

BLK

BTCUSD

Harvest Fund has applied for the first Bitcoin spot ETF in Hong Kong, indicating growing acceptance of cryptocurrencies in financial markets. This follows the SEC's approval of Bitcoin spot ETFs in the U.S. The approval could attract more investors, including those from China, where the stock market underperformed in 2023. Anndy Lian suggests this could lead to more Chinese investment in crypto. The SFC aims to list the ETF on the Hong Kong Stock Exchange after the Chinese New Year, potentially allowing direct Bitcoin subscriptions.

Portfolio Pulse from Murtuza Merchant

January 29, 2024 | 4:03 pm