Streetbeat News

Assets

BONKUSD

DOGEUSD

FLOKIUSD

Cryptocurrency trader 'Crash' highlighted the wealth concentration in meme coins Bonk, Dogecoin, and Floki, with top holders owning a significant portion of the supply. Despite criticism, Crash argues this concentration is typical for successful cryptocurrencies and advises investors to focus on profit rather than fairness. Data shows a high percentage of wealth concentration among top holders and a significant number of transactions and holders in profit for these coins. The performance of these meme coins varies, with Bonk leading in 12-month gains and Floki in three-month gains.

Portfolio Pulse from Khyathi Dalal

April 30, 2024 | 1:31 pm

CPT

Camden Prop Trust's (NYSE:CPT) short interest has decreased by 3.19% since the last report, with 2.98 million shares sold short, representing 3.95% of its float. The current short interest suggests a bullish sentiment as it is lower than the peer group average of 2.88%. The decrease in short interest indicates fewer traders are betting against the stock, which could be a positive sign for its short-term performance.

Portfolio Pulse from Benzinga Insights

April 30, 2024 | 1:30 pm

ALT

Altimmune (NYSE:ALT) has seen a 41.55% increase in short interest since its last report, with 17.73 million shares sold short, representing 25.21% of its float. This places Altimmune's short interest significantly above its peer group average of 12.27%. The rise in short interest suggests a bearish market sentiment towards ALT, but it's also noted that an increase in short interest can sometimes be bullish.

Portfolio Pulse from Benzinga Insights

April 30, 2024 | 1:30 pm

NXE

NexGen Energy Ltd. (NXE) has upsized its Australian offering to 20,161,290 common shares at C$11.11 each, totaling approximately C$224 million. The offering aims to enhance liquidity and market capitalization of its CDIs on the ASX. Proceeds will fund development and exploration of mineral properties. The offering, expected to close on May 15, 2024, is subject to TSX and NYSE approvals and certain conditions. Shares will be issued under a prospectus supplement to NexGen's base shelf prospectus.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 1:29 pm

CLSK

MARA

MSTR

RIOT

Bitcoin mining stocks including Marathon Digital Holdings Inc (MARA), Riot Platforms Inc (RIOT), and CleanSpark Inc (CLSK) are trading lower amid a drop in bitcoin prices and following poor financial results from MicroStrategy Inc (MSTR). Bitcoin's price fell about 2.22%, affecting demand for bitcoin ETFs and mining stocks. MicroStrategy reported a 5% year-over-year revenue decline and a quarterly loss, impacting sentiment. Upcoming earnings reports from MARA, RIOT, and CLSK are also in focus.

Portfolio Pulse from Adam Eckert

April 30, 2024 | 1:25 pm

OP

OceanPal Inc. (NASDAQ:OP) announced a new time charter contract for its Capesize dry bulk vessel, the m/v Baltimore, with Richland Bulk Pte. Ltd., at a rate of $22,000 per day until between September 15, 2024, and November 15, 2024. The current charter rate is $13,500 per day. Additionally, OceanPal Inc. has agreed to sell the m/v Baltimore for $18.25 million, with delivery by November 20, 2024. This sale will leave OceanPal with a fleet of 4 dry bulk vessels.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 1:25 pm

MSTR

MicroStrategy Inc (NASDAQ:MSTR) reported Q1 financial results below expectations, with a 5% year-over-year revenue decline to $115.2 million, missing estimates. The company also reported a significant quarterly loss and a decrease in various revenue streams. Despite this, MicroStrategy continued its Bitcoin investment strategy, purchasing 25,250 Bitcoin, bringing its total holdings to 214,400 Bitcoin. Following the report, Canaccord Genuity maintained a Buy rating on MSTR but lowered the price target from $1,810 to $1,590. MSTR shares dropped 6.88% to $1,204.00.

Portfolio Pulse from Adam Eckert

April 30, 2024 | 1:25 pm

MIGI

Mawson Infrastructure Group (MIGI) has announced plans to expand its facilities in Midland, Pennsylvania, increasing its capacity to 120 MW and its miner capacity to 38,810 miners. This expansion will bring Mawson's total capacity to approximately 129 MW and 41,530 miners.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 1:19 pm

FCX

SCCO

Shares of copper companies, including FCX and SCCO, are trading lower due to a decline in copper prices, influenced by concerns over China's demand outlook.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 1:08 pm

BTCUSD

ETHUSD

Hong Kong's debut of Bitcoin and Ethereum spot ETFs saw a modest first-day trading volume of $12 million, significantly lower than the U.S.'s first Bitcoin ETF launch volume of $4.6 billion. The difference highlights varying investor appetites and regulatory landscapes, with Hong Kong adopting a more lenient approach towards Ethereum compared to the U.S., where regulatory uncertainties persist. The event underscores the global financial community's interest in the future of cryptocurrency ETFs and regulatory frameworks.

Portfolio Pulse from Murtuza Merchant

April 30, 2024 | 12:33 pm