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Assets

COIN

HOOD

PATH

Ark Invest, led by Cathie Wood, sold shares of Coinbase Global Inc (COIN) and Robinhood Markets Inc (HOOD) amid crypto market volatility. The sales were conducted through ARK Innovation ETF (ARKK), ARK Next Generation Internet ETF (ARKW), and ARK Fintech Innovation ETF (ARKF). The firm also bought shares of Zoom Video Communications (ZM) and reduced holdings in UiPath Inc (PATH). These trades reflect Ark's strategy to adapt to market trends, especially in the tech and crypto sectors.

Portfolio Pulse from Benzinga Neuro

December 20, 2023 | 4:33 am

BLK

MSTR

Michael Saylor, executive chair of MicroStrategy Inc., remains bullish on the company's Bitcoin investment strategy despite the potential approval of Bitcoin ETFs in the U.S. He believes MicroStrategy's approach of using 'intelligent' borrowing to invest in Bitcoin will maintain its competitive edge. The SEC's expected approval of Bitcoin spot ETFs, following discussions with BlackRock Inc. about its proposed rule, has generated optimism for multiple ETF approvals by January 2024. Grayscale Investments sees a spot Bitcoin ETF as a key to unlocking significant advised wealth into the Bitcoin market.

Portfolio Pulse from Benzinga Neuro

December 20, 2023 | 4:09 am

BTCUSD

DOGEUSD

ETHUSD

The cryptocurrency market saw a downturn with $116M in liquidations, affecting Bitcoin, Ethereum, and Dogecoin. Genesis blocked DCG from selling its ownership during bankruptcy proceedings. The S&P 500 and Nasdaq showed gains, with the latter closing above 15,000 for the first time since January 2022. Analyst Michael Van de Poppe predicts Bitcoin will stay in the $38-48K range for 3-6 months, while Jon Najarian suggests a potential Bitcoin ETF approval could lead to a 30% surge in its value. Wallets holding 1 or less BTC have accumulated the most coins ever since November.

Portfolio Pulse from Mehab Qureshi

December 20, 2023 | 3:09 am

SHOP

SOL

Solana (CRYPTO: SOL) has seen a 500% increase year-to-date in 2023, outperforming Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH). The interest in Solana has been fueled by airdrops, meme coins, and partnerships with Visa Inc (NYSE:V) and Shopify (NYSE:SHOP). Sam Bankman-Fried's historical tweet offering to buy SOL at $3 highlighted a significant investment opportunity. A $1,000 investment in Solana at the time of his tweet could be worth $20,114.46 today, a 1,911.4% return. Solana's momentum continues as it becomes the sixth largest cryptocurrency by market capitalization.

Portfolio Pulse from Chris Katje

December 19, 2023 | 10:24 pm

FEAM

5E Advanced Materials reported that as of December 8, 2023, the company had $4.34 million in cash and cash equivalents, according to a recent 8-K filing.

Portfolio Pulse from Charles Gross

December 19, 2023 | 10:14 pm

RSP

The Invesco S&P 500 Equal Weight ETF (RSP) has experienced a significant rally, rising nearly 19% from a 52-week low of $133.34 to a 52-week high of $158.25 in just 33 trading days. This performance is notable as it is the fastest such rally since 1957, except for one instance in September 1982. The equal-weighted approach of RSP means that all companies in the S&P 500, regardless of size, have the same impact on the ETF's performance. This rally suggests a potential for a strong market move in 2024, following a 23% increase year-to-date after a nearly 20% drop in 2022.

Portfolio Pulse from Erica Kollmann

December 19, 2023 | 10:09 pm

ALT

DIA

EYPT

IWM

QQQ

SPY

The Russell 2000 index, tracked by the iShares Russell 2000 ETF (IWM), has hit a 16-month high, outperforming large-cap indices in December with an 11.4% surge. Over 80% of the small-cap stocks in the index are trading above their 50-day moving averages, indicating broad strength. In contrast, the SPDR S&P 500 ETF Trust (SPY), SPDR Dow Jones Industrial Average ETF (DIA), and Invesco QQQ Trust (QQQ) saw smaller gains. Top gainers in the Russell 2000 include EyePoint Pharmaceuticals (EYPT), Hawaiian Holdings (HA), Altimmune (ALT), 2seventy bio (TSVT), Aurora Innovation (AUR), Carvana (CVNA), Purple Innovation (PRPL), Marathon Digital Holdings (MARA), MBIA (MBI), and Century Therapeutics (IPSC).

Portfolio Pulse from Piero Cingari

December 19, 2023 | 10:05 pm

BTBT

Bit Digital reports no adverse impact on its operations in Iceland due to the recent volcano eruption on the Reykjanes Peninsula. The company is monitoring the situation but currently does not expect any material impact on its bitcoin mining or AI infrastructure business in the country.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 10:02 pm

AAPL

AMZN

CRWD

CYBR

DIS

GOOG

GOOGL

MAGS