Streetbeat News

Assets

ARKK

CRSP

DKNG

DNA

RXRX

Ark Invest, led by Cathie Wood, sold 229,215 shares of DraftKings Inc (DKNG) valued at $8.04 million through its ARK Innovation ETF (ARKK). This move indicates a shift in strategy, as DraftKings was previously a key holding for Ark. The firm also made significant investments in biotech firms, buying shares of Recursion Pharmaceuticals (RXRX), CRISPR Therapeutics AG (CRSP), and Ginkgo Bioworks Holdings Inc (DNA) through ARKK and ARK Genomic Revolution ETF (ARKG).

Portfolio Pulse from Benzinga Neuro

January 18, 2024 | 4:09 am

COIN

Cryptocurrencies Bitcoin, Ethereum, and Dogecoin showed mixed performance as early spot ETF flows did not meet expectations. Bitcoin has pulled back 10% from recent highs after the launch of 11 spot ETFs in the U.S. A federal judge is evaluating the SEC's lawsuit against Coinbase regarding the classification of digital assets. The global cryptocurrency market cap increased by 1.04% to $1.70 trillion. U.S. stocks fell and Treasury yields surged after retail sales data suggested a resilient consumer base, potentially affecting the pace of Federal Reserve rate cuts. Cryptocurrency analyst Michael Van de Poppe predicts Bitcoin could consolidate before a pre-halving rally, potentially reaching $300,000.

Portfolio Pulse from Mehab Qureshi

January 18, 2024 | 3:27 am

BONKUSD

MYROUSD

SHIBUSD

SOLUSD

WIFUSD

Dogwifhat (WIF), a memecoin on the Solana blockchain, has seen a 54% daily gain, reaching a market capitalization of $400 million. This surge has sparked discussions among traders about the potential for WIF to surpass the market capitalization of Shiba Inu (SHIB). Dogwifhat's performance outshined other Solana-based memecoins like Myro (MYRO) and Bonk (BONK), with a significant daily trading volume of $24 million. Traders are setting high price targets for WIF, similar to past targets for Dogecoin (DOGE) and SHIB, but the reliability of such predictions is questionable.

Portfolio Pulse from Ivan Crnogatić

January 17, 2024 | 10:04 pm

FLNC

Fluence Energy has announced that it has surpassed 20 GWh of deployed and contracted energy storage systems worldwide. This milestone highlights the company's growth in the energy storage market and its role in supporting the transition to more sustainable energy solutions.

Portfolio Pulse from Benzinga Newsdesk

January 17, 2024 | 10:03 pm

ARKB

ARKW

BITO

GBTC

IBIT

PRNT

Cathie Wood's Ark Invest has purchased 365,427 shares of its own ARK 21 Shares Bitcoin ETF (ARKB), which now represents 1% of the ARK Next Generation Internet ETF (ARKW). This move follows the sale of $16 million in ProShares Bitcoin ETF (BITO) by ARKW. Wood has disclosed that Bitcoin makes up at least 25% of her personal net worth, excluding Ark and real estate. The total volume for spot Bitcoin ETFs in three days was $9.68 billion, with iShares Bitcoin Trust (IBIT) leading in fund inflows and Grayscale Bitcoin Trust (GBTC) experiencing significant outflows. Wood has a history of including her own ETFs within other Ark funds, as seen with the 3D Printing ETF (PRNT) in the Ark Space Exploration and Innovation ETF.

Portfolio Pulse from Khyathi Dalal

January 17, 2024 | 9:38 pm

SPY

USO

The latest USA API Weekly Crude Oil Stock report showed a build of 0.483 million barrels, contrary to the estimated draw of 2.400 million barrels and the previous week's draw of 5.215 million barrels.

Portfolio Pulse from Benzinga Newsdesk

January 17, 2024 | 9:32 pm

DFS

Discover Financial Services reported that its total loans for the quarter ended at $128.4 million, marking a 15% increase year-over-year.

Portfolio Pulse from Benzinga Newsdesk

January 17, 2024 | 9:19 pm

MARA

Marathon Digital Holdings, Inc. (NASDAQ: MARA) shares have declined following the SEC's approval of spot Bitcoin ETFs, contributing to volatility in the crypto sector. Despite a brief rally in crypto-related stocks after the SEC approved 11 Bitcoin ETF applications, Marathon's stock dropped over 40% in the subsequent days. Bitcoin's price has since stabilized, and Marathon's shares have been reducing their losses daily. The stock has also reached its weekly 120 and 200 moving averages.

Portfolio Pulse from Ryan Gustafson

January 17, 2024 | 8:54 pm

ALB

SQM

Albemarle Corporation (NYSE:ALB) sold its 4% stake in Liontown Resources after an unsuccessful attempt to take over the company. The sale was managed by JPMorgan, resulting in a drop in Liontown's share price. Albemarle's interest had previously driven Liontown's share price up, but resistance from Gina Rinehart and subsequent withdrawal of the takeover bid led to a significant price drop. Liontown continues to focus on its lithium projects, Kathleen Valley and Buldania, in Western Australia. Goldman Sachs Group (NYSE:GS) and Timothy Rupert Goyder increased their holdings in Liontown, while Albemarle's exit ends speculation of a partnership similar to the one Rinehart arranged with Azure Minerals and SQM (NYSE:SQM).

Portfolio Pulse from Stjepan Kalinic

January 17, 2024 | 7:21 pm

NEM

SBSW

WPM

Shares of precious metals companies are trading lower due to a decline in gold prices, which is attributed to a strengthening US dollar.

Portfolio Pulse from Benzinga Newsdesk

January 17, 2024 | 7:05 pm