Streetbeat News

Assets

FITB

Fifth Third Bancorp's (NYSE:FITB) short interest has increased by 19.19% since the last report, with 21.03 million shares sold short, representing 3.54% of its float. This indicates a bearish market sentiment, although it's higher than its peer group average of 1.44% short interest as a percentage of float. The article suggests that while increased short interest can be seen as bearish, it can also present bullish opportunities under certain conditions.

Portfolio Pulse from Benzinga Insights

April 02, 2024 | 1:45 pm

AXLUSD

BTCUSD

COREUSD

ETHUSD

Bitcoin and Ethereum experienced significant losses, falling below $66,000 and $3,400 respectively. The global crypto market cap decreased by 5.8% to $2.48 trillion. Core was the top gainer, while Axelar was the biggest loser among cryptocurrencies over the past 24 hours.

Portfolio Pulse from Avi Kapoor

April 02, 2024 | 1:44 pm

SOL

WIF

Dogwifhat (WIF), dubbed the 'Shiba Inu Killer', has seen a decline of 11.5% but is still considered 'the best active trade right now' by trader Altcoin Sherpa, despite the recent dip in cryptocurrency prices. WIF's advantages include being a market leader in volume, a leading Solana meme, great liquidity, and being in price discovery. However, risks include the unpredictability of the uptrend's end, the volatile nature of meme coin trading, potential unit bias, and less favorable risk-to-return for new investors. Dogwifhat's recent performance has placed it in the top 40 cryptocurrencies, with a significant 129% increase over the past month, outperforming Shiba Inu's 19% gain.

Portfolio Pulse from Ivan Crnogatić

April 02, 2024 | 1:40 pm

CIFR

Cipher Mining Inc (NASDAQ:CIFR) shares fell alongside other bitcoin mining stocks as bitcoin's price dropped. The company reported mining 316 bitcoins last month, increasing its total holdings to 1,741. The decline in stock price is attributed to a decrease in bitcoin value, influenced by lower rate cut expectations from the Federal Reserve and an increase in the 10-year U.S. Treasury yield. Additionally, bitcoin mining rewards are set to halve later this month, a factor historically followed by market rallies.

Portfolio Pulse from Adam Eckert

April 02, 2024 | 1:29 pm

FET

NEAR

RNDR

TAO

Eric Wall, co-founder of Taproot Wizards, criticized Bittensor (CRYPTO: TAO) on X, calling it a 'pointless exercise in decentralization' and questioning its utility and tokenomics. Despite Wall's critique, Bittensor has seen an 800% increase year-over-year but fell 15% in the past 30 days. It recently rose 4.5% in 24 hours. The debate highlights differing opinions on the utility of AI coins, with some agreeing with Wall and others defending Bittensor. Other AI coins like Render, Fetch, and Near Protocol are tipped for growth in 2024.

Portfolio Pulse from Ivan Crnogatić

April 02, 2024 | 1:29 pm

AMAT

META

MU

NVDA

SMCI

The S&P 500 Index saw over 10% gains in Q1, significantly driven by five AI stocks: Super Micro Computer Inc (SMCI), Nvidia Corp (NVDA), Micron Technology Inc (MU), Meta Platforms Inc (META), and Applied Materials Inc (AMAT). These companies, leading in AI and related technologies, showcased remarkable YTD returns, highlighting the increasing importance of AI in various sectors.

Portfolio Pulse from Surbhi Jain

April 02, 2024 | 12:50 pm

BKTI

BK Technologies announced receiving two purchase orders from the USDA Forest Service for 5,620 BKR 5000 radios, as part of a five-year blanket purchase agreement initiated in May 2021. Since June 2021, the USFS has purchased over 22,000 BKR 5000 radios, transitioning from BK Technologies' KNG Portable Series.

Portfolio Pulse from Benzinga Newsdesk

April 02, 2024 | 12:47 pm

PIXY

ShiftPixy, Inc. (NASDAQ:PIXY), a Florida-based human capital enterprise, announced its second asset purchase agreement to acquire a leading provider of human capital in the Western U.S. The acquired company, a market leader in recruitment, staffing, and HR solutions, boasts annual revenues over $50 million and a portfolio of 100 blue chip customers. This acquisition is part of ShiftPixy's strategy to expand its national market presence and leverage its technology in the Gig Economy.

Portfolio Pulse from Benzinga Newsdesk

April 02, 2024 | 12:23 pm

COCH

Envoy Medical reported a FY23 EPS of $(2.38), a decrease from $(1.57) YoY, while revenue increased to $316K from $237K YoY. Cash and cash equivalents stood at approximately $4.2 million as of December 31, 2023.

Portfolio Pulse from Benzinga Newsdesk

April 02, 2024 | 12:21 pm

TPET

Trio Petroleum's stock is trading higher after the company announced borrowing $125,000 from its CEO, issuing an Unsecured Subordinated Promissory Note in the process.

Portfolio Pulse from Benzinga Newsdesk

April 02, 2024 | 12:20 pm