Streetbeat News

Assets

ARKK

COIN

HOOD

Cathie Wood's Ark Invest paused selling Robinhood (HOOD) shares but continued offloading Coinbase (COIN) shares amid a cryptocurrency rally. Ark sold 11,775 COIN shares through its ETFs ARKK, ARKW, and ARKF, valued at $3.03 million. Despite the sale, COIN's price increased by 6.68% to close at $256.99. ARKK, which holds $714.63 million in COIN shares, saw a 2.08% increase in its session closing at $48.10. The sales occurred as cryptocurrencies, especially Bitcoin, have been experiencing significant gains in 2023.

Portfolio Pulse from Shanthi Rexaline

April 09, 2024 | 10:00 am

GM

General Motors Co's autonomous driving unit Cruise is reportedly preparing to resume robotaxi testing in Phoenix, Arizona, with safety drivers. This comes after operations were suspended following a pedestrian accident in San Francisco. GM reported a $3.48 billion operating loss at Cruise in 2023, but CEO Mary Barra reaffirmed the company's commitment to Cruise, indicating reduced spending but continued investment in self-driving technology.

Portfolio Pulse from Anan Ashraf

April 09, 2024 | 9:09 am

DAW

SOL

The meme coin Dawkoins (DAW), inspired by Richard Dawkins, saw its trading volume double after Dawkins thanked the community for Solana (SOL) donations to his foundation. This surge in volume followed a recent price dip from its all-time high. Crypto analyst Moon predicts a potential 600% surge for DAW if current conditions persist and it breaks out above its current resistance.

Portfolio Pulse from Mehab Qureshi

April 09, 2024 | 7:21 am

BPTS

Biophytis SA reported an improvement in FY23 EPS to €(0.03) from €(0.14) YoY, with a decrease in cash and cash equivalents to €5.6M from €11.1M. The company used €12.6M in operating activities but raised nearly €8M through fundraising and convertible bonds, expecting to finance its activities until Q1 2025.

Portfolio Pulse from Benzinga Newsdesk

April 09, 2024 | 7:11 am

BTCUSD

ETHUSD

Ethereum (ETH) surged 8% in the last 24 hours, outpacing Bitcoin's (BTC) 1.72% increase, amid rumors of potential U.S. ETF approvals. Investment giants like BlackRock Inc. and Fidelity Investments have applied for Ether ETFs, but approval remains uncertain. Bloomberg analysts predict a 75% chance of denial by the SEC, citing weak spot-futures market correlations. Despite this, optimism grows with industry leaders expecting approval, influencing the market positively.

Portfolio Pulse from Benzinga Neuro

April 09, 2024 | 6:39 am

DCOM

Dime Community Bancshares has expanded its private and commercial banking operations by hiring a new group focused on deposits. This move aims to strengthen the bank's deposit base and enhance its service offerings in the private and commercial banking sectors.

Portfolio Pulse from Benzinga Newsdesk

April 09, 2024 | 6:30 am

GOOGL

NVDA

Cathie Wood's Ark Investment Management sold nearly $4M worth of Nvidia (NVDA) shares and trimmed its position in Alphabet (GOOGL/GOOG) through its ETFs. Despite the AI sector's strong performance, Wood prefers investing in emerging AI companies. Analysts expect AI demand to support corporate profits in the short term.

Portfolio Pulse from Shanthi Rexaline

April 09, 2024 | 6:22 am

KRRGF

WGXRF

Gold prices are nearing an all-time high, driven by central bank buying and anticipation of U.S. Federal Reserve policy meeting minutes and inflation data. Spot gold rose to $2,343.76 per ounce, close to the record high of $2,353.79. U.S. gold futures also saw a 0.5% increase. The surge in gold prices reflects concerns over potential Federal Reserve rate cuts and their implications on cryptocurrencies and precious metals. Additionally, the $1.45 billion merger between Karora Resources and Westgold Resources, aiming to boost gold production to 400,000 ounces annually, highlights the bullish trend in the gold market.

Portfolio Pulse from Benzinga Neuro

April 09, 2024 | 6:03 am

BTCUSD

Arthur Hayes, BitMEX co-founder, predicts a significant crypto asset firesale around the Bitcoin halving, influenced by the Federal Reserve's strategies. He anticipates a volatile period in late April, with potential market depression due to tighter dollar liquidity. Despite this, Hayes sees a possible market pump after the Fed's meeting on May 1, with the Treasury likely adding $1 trillion of liquidity. Bitcoin has seen a substantial year-to-date increase, trading at $71,122.10, despite a slight decrease over the last 24 hours.

Portfolio Pulse from Benzinga Neuro

April 09, 2024 | 4:17 am

JPM

Mike Novogratz, CEO of Galaxy Investment Partners, expressed concerns over a potential Federal Reserve rate cut, suggesting it would benefit cryptocurrencies and precious metals but not the US economy. He emphasized the need for significant spending cuts by politicians, amidst a broader debate on economic policies and their impact on various sectors.

Portfolio Pulse from Benzinga Neuro

April 09, 2024 | 3:33 am