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BLK

BTCUSD

The U.S. Securities and Exchange Commission (SEC) is initiating the approval process for Spot Bitcoin ETFs, with eight applicants listed on the federal register. Leading asset management firms, BlackRock and Fidelity, are among the entities that have submitted applications. The SEC has yet to approve any such service, but the involvement of established financial institutions has led to speculation that this may soon change.

Portfolio Pulse from Murtuza Merchant

July 19, 2023 | 6:23 pm

ENPH

A significant amount of unusual options activity has been detected for Enphase Energy (NASDAQ:ENPH), with a bearish stance being taken by a majority of investors. Whales have been targeting a price range from $125.0 to $490.0 for Enphase Energy over the last 3 months. The company's stock price is currently up 0.75% at $185.43. Analysts from Barclays, Oppenheimer, Goldman Sachs, Truist Securities, and B. Riley Securities have provided their ratings and price targets for the company.

Portfolio Pulse from Benzinga Insights

July 19, 2023 | 6:15 pm

ARBK

BRPHF

Argo Blockchain (NASDAQ:ARBK) has raised nearly $7.5 million through a new share sale, which will be used to reduce the company's existing debt. The shares sold represent about 12% of the company's market capitalization before the sale. The company managed to avoid bankruptcy by selling its Helios mining facility to Galaxy Digital for $65 million and securing a $35 million loan from Galaxy Digital Holdings Ltd (OTC:BRPHF).

Portfolio Pulse from Murtuza Merchant

July 19, 2023 | 6:13 pm

BRK-A

SPY

TSLA

Tesla Inc's (NASDAQ:TSLA) shares have rebounded in 2023, adding almost $119 billion to CEO Elon Musk's wealth. This is more than the net worth of Berkshire Hathaway Inc's (NYSE: BRK-A)(NYSE: BRK-B) CEO Warren Buffett, who is worth $116 billion. Tesla shares are up 174% year-to-date in 2023. Meanwhile, Berkshire Hathaway shares are up 11% in 2023, trailing Tesla and the SPDR S&P 500 ETF (NYSE:SPY), which is up 20% year-to-date in 2023.

Portfolio Pulse from Chris Katje

July 19, 2023 | 6:09 pm

BLK

BTCUSD

NDAQ

Nasdaq Inc has decided to halt its plans to offer a cryptocurrency custody service due to business and regulatory challenges, according to CEO Adena Friedman. The company had been expecting approval from the New York Department of Financial Services to start providing custody services. However, Nasdaq plans to continue developing technology to position itself as a leading digital assets software solutions provider. In collaboration with BlackRock Inc, Nasdaq proposed a spot Bitcoin ETF, which is currently under review by the SEC.

Portfolio Pulse from Murtuza Merchant

July 19, 2023 | 6:03 pm

ABNB

A significant investor has taken a bearish stance on Airbnb (NASDAQ:ABNB), with 65% of recent trades being bearish and 34% bullish. The targeted price range for Airbnb over the last 3 months is $115.0 to $180.0. The current price of ABNB is down -0.72% at $145.48. B of A Securities, Needham, and Barclays have maintained their Neutral, Buy, and Equal-Weight ratings on Airbnb, respectively.

Portfolio Pulse from Benzinga Insights

July 19, 2023 | 6:01 pm

BIDU

A significant amount of unusual options activity has been observed for Baidu (NASDAQ:BIDU), with a bearish stance being taken by a majority of investors. Of the 17 strange trades detected, 52% were bearish and 47% were bullish. The trades included 2 puts amounting to $73,750 and 15 calls amounting to $771,157. Whales have been targeting a price range from $115.0 to $170.0 for Baidu over the last 3 months. B of A Securities, Goldman Sachs, and Morgan Stanley have maintained or upgraded their ratings on Baidu, with price targets of $228, $197, and $190 respectively.

Portfolio Pulse from Benzinga Insights

July 19, 2023 | 6:01 pm

ETHUSD

On Tuesday, 6,384.05 Ether (ETH) worth $12,203,624 was burned from Ethereum transactions. This follows the Ethereum blockchain's upgrade known as EIP-1159, which changed the fee model and includes a variable base fee that is burned, permanently removing it from circulation. 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 -8.08%.

Portfolio Pulse from Benzinga Insights

July 19, 2023 | 6:00 pm

NKLA

Nikola Corp's shares are trading lower by 1.98% to $2.47, potentially due to profit-taking after a 79% rally over the past five sessions. The stock's recent strength is attributed to its popularity among high short interest stocks. Nikola's stock surged last week following the announcement of an agreement with BayoTech, which includes the acquisition of up to 50 Nikola Class 8 fuel cell electric vehicles over five years.

Portfolio Pulse from Henry Khederian

July 19, 2023 | 5:46 pm

UNP

Union Pacific Inc.'s shares have risen by 7.15% in the past three months. The company's financial statement as of April 20, 2023, shows a long-term debt of $31.19 billion and a current debt of $2.59 billion, amounting to $33.78 billion in total debt. Adjusted for $1.08 billion in cash-equivalents, the net debt is at $32.70 billion. The debt-ratio, considering Union Pacific's $65.97 billion in total assets, is at 0.51.

Portfolio Pulse from Benzinga Insights

July 19, 2023 | 5:45 pm