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MATICUSD

Polygon's cryptocurrency, MATIC, has seen a significant price drop of 9.32% in the last 24 hours, continuing a weekly decline of 12%. The current price is $0.74. The volatility of MATIC is highlighted by the widening of Bollinger Bands on its price charts. Trading volume has decreased by 62% over the past week, and the circulating supply has slightly decreased by 0.68%. MATIC's market cap is now ranked #14, valued at $6.89 billion.

Portfolio Pulse from Benzinga Insights

November 21, 2023 | 7:00 pm

BNBUSD

BNB (CRYPTO: BNB) has seen a 6.68% price drop over the past 24 hours, now at $239.26, despite a 3.0% increase over the past week. The trading volume surged by 180.0%, while the circulating supply decreased by 1.53%. BNB's market cap is currently ranked #4 at $36.91 billion.

Portfolio Pulse from Benzinga Insights

November 21, 2023 | 7:00 pm

ITW

Illinois Tool Works (NYSE:ITW) has delivered an average annual return of 14.07% over the past 15 years, outperforming the market by 2.61% on an annualized basis. A $100 investment in ITW 15 years ago would be worth $752.07 today. The company currently has a market cap of $72.10 billion.

Portfolio Pulse from Benzinga Insights

November 21, 2023 | 6:30 pm

BBY

DIA

IWM

KSS

LOW

NVDA

QQQ

SPY

Stocks edged down ahead of the release of the FOMC minutes and Nvidia's earnings report. Disappointing results from Lowe's, Kohls, and Best Buy influenced market sentiment. Gold prices surged past $2,000 per ounce due to the dollar's weakness. Sector ETFs saw mixed performance, with healthcare and materials up, while tech and real estate were down. Agilent Technologies rose after earnings, while AMC hit a new low. Other companies are set to report earnings after market close. USO, TLT, and global equity ETFs like FEZ saw slight declines, while ARGT dropped after a previous rally. Cryptocurrencies Bitcoin and Ethereum also fell.

Portfolio Pulse from Piero Cingari

November 21, 2023 | 6:23 pm

BTCUSD

ETHUSD

SPY

Prosecutors have reported that Binance, a major cryptocurrency exchange, has agreed to a $2.51 billion order of forfeiture. This news could have significant implications for the cryptocurrency market and related assets.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 6:19 pm

VRTX

Vertex Pharmaceuticals (NASDAQ: VRTX) has delivered an average annual return of 20.31% over the past 20 years, outperforming the market. A $100 investment in VRTX 20 years ago would be worth $4,039.36 today. The company's market capitalization stands at $92.18 billion.

Portfolio Pulse from Benzinga Insights

November 21, 2023 | 6:00 pm

ETHUSD

On Monday, 8,543.67 Ether (ETH) valued at approximately $16.9 million was burned, permanently removing it from circulation. This is a result of the EIP-1159 upgrade implemented on August 5, 2021, which introduced a variable base fee for transactions that is burned. The current issuance rate of new Ether is 4% annually, expected to drop to 0.5-1% with the Ethereum 2.0 upgrade, potentially making ETH a deflationary currency. The net annualized issuance rate for Ether was -10.10% yesterday, according to Glassnode.

Portfolio Pulse from Benzinga Insights

November 21, 2023 | 6:00 pm

AAPL

AMZN

GOOG

GOOGL

META

MSFT

NVDA

TSLA

Goldman Sachs' analysis of 735 hedge funds with $2.4 trillion in gross equity positions reveals a significant shift towards mega-cap tech stocks, known as the 'Magnificent Seven', which now represent 13% of total long positions in hedge fund portfolios. This concentration has doubled since early 2023, with net exposure to these stocks at the 99th percentile. The report also identifies 'Rising Stars' and 'Falling Stars' in hedge fund interest, with stocks like KVUE, LLY, X, ABT, and DHI gaining popularity, while APLS, DKS, WSC, CHDN, and TDY saw declines.

Portfolio Pulse from Piero Cingari

November 21, 2023 | 5:55 pm

Ford Motor Company (NYSE:F) is scaling back its investment in the BlueOval Battery Park Michigan, reducing the number of jobs created from 2,500 to 1,700 and the annual EV production capacity from 400,000 to 230,000 vehicles. The overall investment in the plant is also being cut from $3.5 billion to approximately $2 billion. This adjustment is part of Ford's broader reduction in its EV strategy, which includes delaying $12 billion in spending on battery-powered models. The company cites slower than expected EV adoption as a reason for the re-timing and resizing of investments.

Portfolio Pulse from Nabaparna Bhattacharya

November 21, 2023 | 5:54 pm

VWAGY

Volkswagen AG has started operations at its first fully owned battery pack production facility in Hefei, China. This move is part of Volkswagen's strategy to expand its electric vehicle production in the world's largest auto market. The plant will begin mass production of electric models by the end of 2023, with an investment of approximately $208.01 million. CEO Oliver Blume is aiming for a €20,000 EV by the latter half of the decade. Volkswagen shares are currently trading down by 2.78% at $12.87.

Portfolio Pulse from Shivani Kumaresan

November 21, 2023 | 5:45 pm