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BTCUSD

Thomas Lee, co-founder of Fundstrat Global Advisors, accurately predicted Bitcoin's rise in 2018, suggesting it could reach $150,000 by capturing 1% of global assets. As of 2024, Bitcoin has surpassed $70,000, reflecting its increasing acceptance and role in financial portfolios. Lee's insights will be discussed at Benzinga's Future of Digital Assets conference, highlighting the growing market cap of cryptocurrencies and their appeal as an uncorrelated asset class for diversification.

Portfolio Pulse from Murtuza Merchant

March 25, 2024 | 8:26 pm

AAPL

IWD

IWF

MSFT

NVDA

Bank of America's technical analyst, Stephen Suttmeier, analyzed the performance of the iShares Russell 1000 Growth ETF (IWF) and the iShares Russell 1000 Value ETF (IWD), highlighting a significant divergence in their paths. Over the past year, growth stocks, represented by IWF, have outperformed value stocks, represented by IWD, by 20 percentage points, a gap that has widened to nearly 100 percentage points over seven years. The analysis suggests that growth stocks, with top holdings like Microsoft, Apple, and Nvidia, are likely to maintain their market leadership due to their strong performance and sector concentration. Conversely, value stocks, with top holdings like Berkshire Hathaway, JPMorgan Chase, and ExxonMobil, show a more diversified portfolio but lag in performance.

Portfolio Pulse from Piero Cingari

March 25, 2024 | 8:16 pm

AVTE

Aerovate Therapeutics announced that its cash, cash equivalents, and available-for-sale investments are expected to be sufficient to fund its operations into 2026, according to its current operating plan.

Portfolio Pulse from Benzinga Newsdesk

March 25, 2024 | 8:16 pm

LICY

Li-Cycle has successfully closed a $75 million investment from Glencore, marking a significant financial infusion into the battery recycling company. This investment could enhance Li-Cycle's operational capabilities and expand its market presence.

Portfolio Pulse from Benzinga Newsdesk

March 25, 2024 | 8:15 pm

MTB

M&T Bank's (NYSE:MTB) short interest has decreased to 2.39% of its float, with 3.48 million shares sold short. This represents a 6.27% drop since the last report, indicating a potential shift in market sentiment towards more bullish views. The current short interest is below the peer group average of 3.61%, suggesting M&T Bank is performing better in this aspect compared to its peers.

Portfolio Pulse from Benzinga Insights

March 25, 2024 | 8:15 pm

EFTR

eFFECTOR Therapeutics reported its financial results for Q4 and the full year of 2023, highlighting a cash position of $18.4M as of December 31, 2023, with expectations to fund operations into Q1 of 2025. The company experienced a decrease in revenue, reporting zero for 2023 compared to $3.6M in 2022, primarily from grant revenue for COVID-19 treatment research. R&D expenses slightly decreased due to lower costs in the zotatifin program, offset by increased expenses in the KICKSTART trial for tomivosertib. G&A expenses also saw a reduction, and the company reported a net loss of $35.8M for the year.

Portfolio Pulse from Benzinga Newsdesk

March 25, 2024 | 8:04 pm

ENPH

Enphase Energy (NASDAQ:ENPH) has seen a balanced mix of bullish and bearish sentiment in the options market, with an equal number of puts and calls traded. The options trades suggest a wide price range prediction for ENPH, from $55.0 to $300.0. Significant trades include both bullish and bearish sentiments with varying strike prices and expiration dates. Enphase Energy, a global energy technology company, is currently trading at $114.6 with neutral RSI readings. An analyst from Piper Sandler maintains a Neutral rating with a target price of $113.

Portfolio Pulse from Benzinga Insights

March 25, 2024 | 8:01 pm

GPN

Over the past 20 years, Global Payments (NYSE:GPN) has produced an average annual return of 12.98%, outperforming the market by 5.08% annually. A $100 investment in GPN 20 years ago would be worth $1,178.97 today. Global Payments currently has a market capitalization of $33.70 billion.

Portfolio Pulse from Benzinga Insights

March 25, 2024 | 8:00 pm

DFS

Discover Financial Services (NYSE:DFS) has significantly outperformed the market with an annualized return of 22.04% over the past 15 years, turning a $100 investment into $2,166.61 today. The company currently boasts a market capitalization of $31.38 billion.

Portfolio Pulse from Benzinga Insights

March 25, 2024 | 8:00 pm

SYK

Over the past 20 years, Stryker (NYSE:SYK) has produced an average annual return of 10.81%, outperforming the market. A $100 investment in SYK 20 years ago would now be worth $792.06. Stryker's current market capitalization stands at $134.09 billion.

Portfolio Pulse from Benzinga Insights

March 25, 2024 | 7:30 pm