Streetbeat News

Assets

C

DB

HSBC

JPM

Citigroup Inc (NYSE:C) has launched Citi Token Services, a digital asset solution using blockchain and smart contract technologies for better cash management and trade finance. The service will convert customer deposits into digital tokens which can be transferred globally. The bank will depend on a private blockchain owned and managed by the bank. This follows similar moves by Deutsche Bank (NYSE:DB) and HSBC (NYSE:HSBC) who recently partnered with other companies for digital asset custody. JPMorgan Chase & Co (NYSE:JPM) is also developing a blockchain-based digital deposit token.

Portfolio Pulse from Khyathi Dalal

September 18, 2023 | 7:14 pm

ATAI

CYBN

MNMD

Billionaire Steve Cohen has invested nearly $19 million in Cybin Inc. (NYSE:CYBN) through his Point72 asset management firm, which now owns over 8% of Cybin's stock. This is Point72's first public position in a psychedelics company. In other news, billionaire Blake Mycoskie has updated on his $100 million pledge for psychedelics research, stating that he has already donated $11 million, including investments in MindMed (NASDAQ: MNMD), atai Life Sciences (NASDAQ:ATAI), and MAPS PBC.

Portfolio Pulse from Lara Goldstein

September 18, 2023 | 7:10 pm

AAPL

CVX

XLE

XLK

XOM

Crude oil prices are surging, with experts predicting a barrel of oil could hit $100. Price premiums for physical oil barrels are increasing globally due to rising diesel demand. Chevron Corp. CEO Mike Wirth expressed confidence in oil reaching $100 a barrel. Over the last three months, energy stocks represented by the Energy Select Sector SPDR Fund have outperformed the Technology Select Sector SPDR Fund by 20%. Exxon Mobil Corp. has also outperformed Apple Inc.

Portfolio Pulse from Piero Cingari

September 18, 2023 | 7:06 pm

COP

A significant bearish stance has been taken on ConocoPhillips (NYSE:COP) by a large investor, as observed in the unusual options activity. The sentiment among these big-money traders is 70% bearish and 30% bullish. The whales have been targeting a price range from $115.0 to $140.0 for ConocoPhillips over the last 3 months. The current price of COP is up 0.78% at $124.54.

Portfolio Pulse from Benzinga Insights

September 18, 2023 | 7:01 pm

MELI

A significant amount of unusual options activity has been detected for MercadoLibre (NASDAQ:MELI), with a bearish stance being taken by a majority of investors. Of the 16 strange trades detected, 56% were bearish and 43% were bullish. The total amount for puts was $352,695 and for calls was $195,946. Whales have been targeting a price range from $1020.0 to $1600.0 for MercadoLibre over the last 3 months. The company's stock price is currently down -0.61% at $1388.12. Analysts have mixed opinions, with New Street Research and UBS maintaining a Buy rating, while Wedbush has downgraded its action to Outperform.

Portfolio Pulse from Benzinga Insights

September 18, 2023 | 7:01 pm

ELP

Cia Paranaense De Energia (NYSE:ELP) has outperformed the market over the past 20 years, producing an average annual return of 9.15%. If an investor had bought $100 of ELP stock 20 years ago, it would be worth $549.70 today. The company currently has a market capitalization of $27.06 billion.

Portfolio Pulse from Benzinga Insights

September 18, 2023 | 7:00 pm

ATOMUSD

In the past 24 hours, the price of Cosmos Hub (CRYPTO: ATOM) has risen by 3.73% to $7.28, continuing its positive trend over the past week with a 14.0% gain. The coin's trading volume has also increased by 2.0% over the past week, along with a 0.3% increase in circulating supply, bringing it to 292.59 million. The current market cap ranking for ATOM is #30 at $2.13 billion.

Portfolio Pulse from Benzinga Insights

September 18, 2023 | 7:00 pm

CB

Over the past 20 years, Chubb (NYSE:CB) has outperformed the market by 2.26% on an annualized basis, producing an average annual return of 9.98%. If an investor had bought $100 of CB stock 20 years ago, it would be worth $671.86 today.

Portfolio Pulse from Benzinga Insights

September 18, 2023 | 7:00 pm

BCHUSD

Bitcoin Cash's (CRYPTO: BCH) price has risen 3.37% to $216.46 in the past 24 hours, continuing its positive trend over the past week with a 19.0% gain. The trading volume for the coin has increased 78.0% over the past week, while the overall circulating supply of the coin has decreased 0.03%. The current market cap ranking for BCH is #18 at $4.23 billion.

Portfolio Pulse from Benzinga Insights

September 18, 2023 | 7:00 pm

PDD

Unusual options activity has been observed for PDD Holdings (NASDAQ:PDD), with a bearish stance taken by a large investor. The sentiment among big-money traders is split, with 48% bullish and 52% bearish. The targeted price range for PDD Holdings over the last 3 months is from $65.0 to $155.0. The price of PDD is currently up 0.52% at $99.98. Several financial institutions have maintained their positive ratings on PDD Holdings, with price targets ranging from $115 to $140.

Portfolio Pulse from Benzinga Insights

September 18, 2023 | 6:45 pm