Streetbeat News

Assets

GM

General Motors (NYSE:GM) has seen a decrease in short interest, with the short percent of float falling 4.14% since the last report. The company has 110.71 million shares sold short, which is 8.11% of available shares for trading. The current short interest is lower than the peer group average of 10.24%. While a decline in short interest can indicate a more bullish sentiment, it does not necessarily predict a near-term rise in stock price.

Portfolio Pulse from Benzinga Insights

January 26, 2024 | 6:15 pm

USO

The latest Baker Hughes rig count report shows an increase in oil rigs by 2 and a decrease in gas rigs by 1. This data is a key indicator of future production levels and can influence oil prices and related stocks.

Portfolio Pulse from Benzinga Newsdesk

January 26, 2024 | 6:05 pm

ETH-USD

On Thursday, 5,155.29 Ether (ETH) valued at approximately $11.7 million was burned, permanently removing it from circulation. This is a result of the EIP-1159 upgrade implemented on August 5th, 2021, which introduced a variable base fee for transactions that is burned. The current issuance rate of new Ether is 4% annually, but with the upcoming Ethereum 2.0 upgrade, it's expected to drop to 0.5-1%, potentially making ETH a deflationary currency. The net annualized issuance rate for Ether was -4.42% yesterday, according to Glassnode.

Portfolio Pulse from Benzinga Insights

January 26, 2024 | 6:00 pm

MS

Morgan Stanley is planning to raise capital for a private credit portfolio, targeting institutional investors, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

January 26, 2024 | 5:41 pm

ALK

BA

Alaska Air announced the return of their first 737-9 MAX planes to service while final inspections are ongoing. The airline expects to complete inspections on all 737-9 MAX aircraft by the end of next week. Alaska Air will resume flights with the 737-9 MAX starting with Flight 1146 from Seattle to San Diego on January 26.

Portfolio Pulse from Benzinga Newsdesk

January 26, 2024 | 5:39 pm

IBIT

MARA

RIOT

Shares of Marathon Digital Holdings, Inc. (MARA) and Riot Platforms, Inc. (RIOT) are trading higher as Bitcoin's price rises. The approval of Bitcoin spot ETFs, including BlackRock’s iShares Bitcoin Trust (IBIT), initially hurt crypto stocks. Bitcoin's recovery to a 6% increase on Friday has positively impacted MARA and RIOT, which have high short interest, potentially leading to significant price volatility.

Portfolio Pulse from Erica Kollmann

January 26, 2024 | 5:37 pm

AMD

NVDA

TSM

Nvidia (NVDA) and AMD (AMD) stocks are trading lower after Bill Baruch of Blue Creek Capital and Joshua Brown of Ritholtz Wealth Management reduced their exposure to these semiconductor stocks. Brown, who maintains a core position in Nvidia, sold AMD shares, considering it overbought. Stephen Weiss of Short Hills Capital Partners favors Taiwan Semiconductor (TSM) over Nvidia and AMD, citing TSM's pricing power. Nvidia's stock has risen due to its AI chip industry position, with a $1 trillion opportunity in AI. AMD shares traded slightly lower at $179.94.

Portfolio Pulse from Anusuya Lahiri

January 26, 2024 | 4:26 pm

BTCUSD

Macro analyst Lyn Alden rated Bitcoin's health as A-, citing its 'highly investable' status based on five metrics: market capitalization and liquidity, increasing convertibility, the Lindy effect indicating longevity, improving user experience, and resistance to being banned. Alden's positive outlook is contingent on Bitcoin's price continuing to make higher highs and lows over several years amidst rising global liquidity.

Portfolio Pulse from Ivan Crnogatić

January 26, 2024 | 3:14 pm

NVDA

Over the past 10 years, NVIDIA (NASDAQ:NVDA) has significantly outperformed the market, with an average annual return of 65.57%. A $1000 investment in NVDA a decade ago would now be worth $157,401.03. NVIDIA's market capitalization currently stands at $1.50 trillion. The article highlights the impact of compounded returns on investment growth over time.

Portfolio Pulse from Benzinga Insights

January 26, 2024 | 3:06 pm

ICPUSD

Internet Computer's cryptocurrency (ICP) has seen a significant price increase of 10.05% in the last 24 hours, reaching $12.37. Over the past week, the price has risen by over 12%, from $10.9. Despite the recent gains, ICP is still far from its all-time high of $700.65. The trading volume has decreased by 25% over the past week, and the circulating supply has slightly decreased by 0.38%. Internet Computer currently holds the #18 spot in market cap rankings, with a valuation of $5.62 billion.

Portfolio Pulse from Benzinga Insights

January 26, 2024 | 3:03 pm