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GBTC

Bitcoin (BTC) surged by 4.5% between Monday and Wednesday, marking its best performance since June. The Grayscale Bitcoin Trust (GBTC) won its legal battle against the SEC, allowing the conversion of GBTC into an ETF. This could pave the way for other companies like Bitwise, VanEck, Invesco, Fidelity, and Valkyrie to secure approval for their Bitcoin ETF applications. Cathie Wood, overseer of the ARK Innovation ETF (ARKK), predicts Bitcoin surpassing $1 million by 2030. The net-long positions in Bitcoin futures held by large speculators grew to 1,515 contracts during the week ending Aug. 22, the highest since April 2018.

Portfolio Pulse from Piero Cingari

August 30, 2023 | 9:43 pm

CPRT

Over the past 15 years, Copart (NASDAQ:CPRT) has outperformed the market by 11.55% on an annualized basis, producing an average annual return of 20.54%. If an investor had bought $100 of CPRT stock 15 years ago, it would be worth $1,620.49 today.

Portfolio Pulse from Benzinga Insights

August 30, 2023 | 9:30 pm

STM

STMicroelectronics (NYSE:STM) has outperformed the market over the past 5 years by 9.7% on an annualized basis, producing an average annual return of 18.95%. If an investor had bought $100 of STM stock 5 years ago, it would be worth $238.17 today.

Portfolio Pulse from Benzinga Insights

August 30, 2023 | 9:30 pm

BTCUSD

DAIUSD

ETHUSD

USDCUSD

Interlay has launched the Minimum Viable Product (MVP) for its Build on Bitcoin (BOB) solution, a Bitcoin Layer 2 network. The network is compatible with native Bitcoin libraries and the Ethereum Virtual Machine (EVM), making it a prime platform for developing decentralized applications. The inaugural application on BOB's MVP facilitates the trustless access of cross-chain assets like Ethereum, Dai, and USD Coin on Bitcoin. The full release will offer enhanced interoperability with Ethereum, a cutting-edge Bitcoin peg mechanism, and advanced Bitcoin rollup mechanics.

Portfolio Pulse from Murtuza Merchant

August 30, 2023 | 9:19 pm

UGI

UGI Corporation is planning to review strategic alternatives with the aim of reducing its earnings volatility and strengthening its balance sheet.

Portfolio Pulse from Benzinga Newsdesk

August 30, 2023 | 9:02 pm

FANG

Over the past 10 years, Diamondback Energy (NASDAQ:FANG) has outperformed the market by 3.15% on an annualized basis, producing an average annual return of 13.77%. If an investor had bought $100 of FANG stock 10 years ago, it would be worth $363.20 today. The company currently has a market capitalization of $27.06 billion.

Portfolio Pulse from Benzinga Insights

August 30, 2023 | 9:00 pm

RSG

Republic Servs (NYSE:RSG) has outperformed the market over the past 15 years, producing an average annual return of 10.48%. If an investor had bought $100 of RSG stock 15 years ago, it would be worth $440.25 today. The company currently has a market capitalization of $46.15 billion.

Portfolio Pulse from Benzinga Insights

August 30, 2023 | 9:00 pm

PFE

A significant investor has taken a bearish stance on Pfizer (NYSE:PFE), with 90% of recent trades being bearish. The targeted price range for Pfizer over the last 3 months is $35.0 to $45.0. The current price of PFE is down -0.69% at $35.9. Analysts have mixed ratings on Pfizer, with price targets ranging from $40 to $75.

Portfolio Pulse from Benzinga Insights

August 30, 2023 | 8:45 pm

VIAV

VIAVI has announced the resignation of its CFO, Henk Derksen. The company has not yet announced a replacement.

Portfolio Pulse from Bill Haddad

August 30, 2023 | 8:36 pm

FEAM

5E Advanced Materials reported a cash balance of $20.3M at the end of the fiscal year. The company's construction in progress was valued at $67.5M, a significant increase from $25.6M year-over-year.

Portfolio Pulse from Benzinga Newsdesk

August 30, 2023 | 8:34 pm