Streetbeat News

Assets

BTCUSD

ETHUSD

Institutional investors have shown a preference for Bitcoin (BTC) and Ethereum (ETH) over altcoins, with Bitcoin holdings increasing significantly in the first three quarters of 2023. In September, 50% of institutional investors' portfolios were in Bitcoin, influenced by positive market sentiment and potential regulatory approvals. Ether saw a decline in interest post-Shapella update, but institutional holdings surged in September. Retail traders hold more stablecoins, while institutions strategically move stablecoin reserves into BTC and ETH. Interest in altcoins has waned among all traders, with holdings dropping below December levels.

Portfolio Pulse from Murtuza Merchant

December 04, 2023 | 5:17 pm

RSHO

President Joe Biden has proposed new regulations to boost U.S. production of electric vehicle (EV) batteries and components, potentially reshaping the auto supply chain. The Tema ETF Trust Tema American Reshoring ETF (NYSE:RSHO) surged 2.34% on Friday in response to these proposals. The regulations could incentivize U.S.-based EV automakers to source materials domestically, benefiting from federal tax credits. This comes as Chinese EV manufacturers face challenges in the U.S. market due to existing tariffs. RSHO, which invests in companies likely to benefit from reshoring, has outperformed the S&P 500 since its inception. The ETF is currently in an uptrend but is showing signs of being overbought.

Portfolio Pulse from Melanie Schaffer

December 04, 2023 | 5:08 pm

SPOT

Spotify Technology SA (NYSE:SPOT) saw its stock rise by over 10% following the announcement of a 17% workforce reduction. The stock's positive performance, with a 20% increase over the past month and over 120% year-to-date, is attributed to investor optimism for a leaner, more efficient company. Technical analysis suggests the rally may continue, as indicated by a Golden Cross pattern on the stock's chart, where the 50-day SMA crossed over the 100-day SMA, historically signaling an uptrend.

Portfolio Pulse from Surbhi Jain

December 04, 2023 | 5:05 pm

ZTS

Over the past 5 years, Zoetis (NYSE:ZTS) has produced an average annual return of 15.54%, outperforming the market by 3.99% on an annualized basis. A $100 investment in ZTS 5 years ago would be worth $200.59 today. Zoetis currently has a market cap of $83.26 billion. The article highlights the impact of compounded returns on investment growth over time.

Portfolio Pulse from Benzinga Insights

December 04, 2023 | 5:00 pm

ANET

Arista Networks (NYSE:ANET) has significantly outperformed the market, with an average annual return of 30.44% over the past 5 years. A $1000 investment in ANET 5 years ago would be worth $3,564.74 today. Arista Networks currently has a market cap of $66.11 billion.

Portfolio Pulse from Benzinga Insights

December 04, 2023 | 5:00 pm

KKR

Keefe, Bruyette & Woods has reaffirmed its Outperform rating on KKR & Co (NYSE:KKR) and increased its price target from $75.00 to $90.00. KKR's shares have risen 0.71% to $75.40, and the new target suggests a 19.36% upside. KKR manages $518.5 billion in assets, with $420.0 billion in fee-earning AUM as of June 2023.

Portfolio Pulse from Benzinga Insights

December 04, 2023 | 5:00 pm

MSTR

MicroStrategy Incorporated (NASDAQ:MSTR) stock is trading higher, correlating with a surge in Bitcoin's price, which crossed the $41,500 mark. MicroStrategy's CEO Michael Saylor announced the purchase of additional Bitcoin, now holding 174,530 BTC. The company's stock hit a new 52-week high of $577.77, with a significant short interest of 25.16%. The optimism around a potential spot ETF for Bitcoin has also contributed to the crypto rally this year.

Portfolio Pulse from Erica Kollmann

December 04, 2023 | 4:43 pm

BX

Over the past 15 years, Blackstone (NYSE:BX) has produced an average annual return of 20.47%, outperforming the market by 9.03% on an annualized basis. A $100 investment in BX 15 years ago would be worth $1,662.70 today. Blackstone's market capitalization currently stands at $85.91 billion.

Portfolio Pulse from Benzinga Insights

December 04, 2023 | 4:30 pm

SLG

SL Green Realty Corp (NYSE:SLG) shares rose approximately 7% following the announcement of a deal to sell its ownership stake in 625 Madison Avenue for $632.5 million. The sale to a global real estate investor values the property at $1,123 per square foot. SL Green plans to use the net proceeds to repay corporate debt and will also originate a $234.5 million preferred equity investment in the property. Truist Securities reaffirmed a Buy rating on SLG and increased its price target to $42 from $41. SLG's stock price increased to $43.08.

Portfolio Pulse from Lekha Gupta

December 04, 2023 | 4:23 pm

BRK-A

BRK-B

NU

SPY

Warren Buffett, known for his value investing strategy, has been a vocal critic of Bitcoin, referring to it as 'rat poison squared' in 2018. Despite his skepticism, Bitcoin has significantly outperformed Berkshire Hathaway and the S&P 500 since then. An investment of $1,000 in Bitcoin on the day of Buffett's comment would now be worth $4,180.80, a 318.1% return, compared to Berkshire's 84.3% and the S&P 500's 71.1% over the same period. Buffett's company, Berkshire Hathaway, indirectly has exposure to Bitcoin through its shares in Nu Holdings, a crypto-friendly Latin American digital bank.

Portfolio Pulse from Chris Katje

December 04, 2023 | 4:10 pm