Streetbeat News

Assets

MELI

MercadoLibre (NASDAQ:MELI) has outperformed the market over the past 15 years by 20.18% on an annualized basis, producing an average annual return of 28.9%. If an investor had bought $100 of MELI stock 15 years ago, it would be worth $4,393.53 today.

Portfolio Pulse from Benzinga Insights

August 29, 2023 | 6:30 pm

SPKY

SPY

UVXY

The SPDR S&P 500 (NYSE:SPY) surged over 1% higher after data showed U.S. job openings decreased below 9 million for the first time since March 2021, indicating a cooling labor market. This gives investors hope that the Federal Reserve’s rate hike campaign is succeeding, which could lead to a pause next month. The SPY is trading in an uptrend, with the formation of a higher high. The ConvexityShares Daily 1.5x SPIKES Futures ETF (NYSE:SPKY) and ProShares Ultra VIX Short Term Futures ETF (NYSE:UVXY) are also mentioned as options for traders wishing to trade potential volatility.

Portfolio Pulse from Melanie Schaffer

August 29, 2023 | 6:03 pm

ZM

A significant amount of unusual options activity has been observed for Zoom Video Comms (NASDAQ:ZM), with a majority of investors taking a bullish stance. Whales have been targeting a price range from $60.0 to $100.0 for Zoom over the last 3 months. The current price of ZM is up 1.48% at $68.57. Analysts have mixed opinions, with price targets ranging from $66 to $100.

Portfolio Pulse from Benzinga Insights

August 29, 2023 | 6:01 pm

MRVL

Marvell Tech (NASDAQ:MRVL) has outperformed the market over the past 5 years by 12.98% on an annualized basis, producing an average annual return of 22.11%. If an investor had bought $100 of MRVL stock 5 years ago, it would be worth $271.74 today.

Portfolio Pulse from Benzinga Insights

August 29, 2023 | 6:01 pm

AZO

AutoZone (NYSE:AZO) has outperformed the market over the past 10 years by 9.09% on an annualized basis, producing an average annual return of 19.65%. If an investor had bought $100 of AZO stock 10 years ago, it would be worth $601.15 today.

Portfolio Pulse from Benzinga Insights

August 29, 2023 | 6:00 pm

ETHUSD

On Monday, 5,618.05 Ether (ETH) worth $9,738,549 was burned from Ethereum transactions. This follows the Ethereum blockchain's upgrade known as EIP-1159, which changed the fee model and burns a base fee from each transaction. Ethereum is currently issuing new Ether at a rate of 4% per year, expected to decrease to around 0.5-1% with the Ethereum 2.0 upgrade. The net annualized issuance rate for Ether yesterday was -6.02%.

Portfolio Pulse from Benzinga Insights

August 29, 2023 | 6:00 pm

GBTC

Deep Knowledge Investing (DKI) has confirmed a rumor that a court has ruled in favor of Grayscale Bitcoin Trust (OTC:GBTC) in its lawsuit against the SEC, paving the way for the conversion of GBTC to an ETF. This is expected to collapse the discount to net asset value (NAV) of GBTC, which has already reduced from 30-40% to 17%. DKI plans to hold GBTC until the NAV discount collapses, then shift those holdings into Bitcoin. DKI's premium subscribers have made a 41% return on GBTC in two months.

Portfolio Pulse from Gary Brode

August 29, 2023 | 5:49 pm

FXI

MT

NUE

RS

STLD

VALE

X

Vale executive has stated that the demand for Chinese steel is declining less than some indicators suggest. This could potentially impact the performance of companies and ETFs in the steel industry.

Portfolio Pulse from Benzinga Newsdesk

August 29, 2023 | 5:49 pm

TWLO

A significant amount of unusual options activity has been observed for Twilio (NYSE:TWLO), with a majority of investors taking a bullish stance. Of the 13 strange trades detected, 61% were bullish and 38% were bearish. The total amount for puts was $262,008 and for calls was $539,692. Whales have been targeting a price range from $55.0 to $105.0 for Twilio over the last 3 months. The current price of TWLO is up 2.69% at $60.15. Analysts from Goldman Sachs, UBS, Needham, and Northland Capital Markets have maintained their ratings on Twilio, with price targets ranging from $66 to $75.

Portfolio Pulse from Benzinga Insights

August 29, 2023 | 5:45 pm

CRWD

Unusual options activity has been observed for CrowdStrike Holdings (NASDAQ:CRWD), with a bearish stance taken by a large investor. The overall sentiment of these big-money traders is split between 45% bullish and 54% bearish. The whales have been targeting a price range from $125.0 to $165.0 for CrowdStrike Holdings over the last 3 months. The price of CRWD is up 2.17% at $147.16. Several experts have downgraded their ratings on CrowdStrike, with price targets ranging from $167 to $178.

Portfolio Pulse from Benzinga Insights

August 29, 2023 | 5:45 pm