Streetbeat News

Assets

EGY

VAALCO Energy, Inc. has received approval from the Government of Equatorial Guinea for the Joint Operating Agreement related to the Venus-Block P Plan of Development. This approval, under the Block P Production Sharing Contract, initiates a 25-year development and production period.

Portfolio Pulse from Benzinga Newsdesk

March 25, 2024 | 7:06 am

FDX

LULU

NKE

The CNN Money Fear and Greed index indicated a decline in market sentiment, yet the Dow Jones experienced its strongest week since December. Despite this, the S&P 500 and Nasdaq showed mixed results. Lululemon and Nike shares dropped significantly after their earnings reports, while FedEx shares surged following a positive earnings announcement and a new share repurchase program. The U.S. oil rig count decreased slightly. Sectors such as real estate, financial, and consumer discretionary faced losses, whereas information technology and communication services saw gains. Investors are looking forward to earnings results from Westport Fuel Systems, BuzzFeed, and Dada Nexus.

Portfolio Pulse from Avi Kapoor

March 25, 2024 | 6:44 am

FMST

ILIT

Foremost Lithium Resource & Technology Ltd (NASDAQ:FMST) has initiated drilling at its Snow Lake site in Manitoba, Canada, with anticipation of a C$10 million grant from Canada's Critical Mineral Infrastructure Fund to support North American lithium production for electric vehicles and batteries. The company is implementing a direct ship ore strategy to enhance operations and is unaffected by recent lithium price drops, focusing on long-term goals and production set for 2025. The iShares Lithium Miners and Producers ETF (NYSE:ILIT) has seen an 18% decrease since the year's start amid falling lithium prices.

Portfolio Pulse from Neil Dennis

March 24, 2024 | 8:10 pm

BOLD

MMA

BOUNDLESS BIO, INC (NASDAQ:BOLD) and Alta Global Group Limited (NYSE:MMA) are set to go public this week, with BOLD's IPO scheduled for March 28, 2024, offering 6,250,000 shares at $16.00 each, and MMA's IPO on March 27, 2024, offering 1,300,000 shares at $5.00 each. Both companies have set a 180-day lockup period for insiders.

Portfolio Pulse from Benzinga Insights

March 24, 2024 | 6:32 pm

CCJ

DBO

UNG

URA

URNM

USO

Rick Rule, a seasoned investor in natural resources, emphasizes the importance of contrarian investing in the volatile mining sector. He highlights the cyclical nature of these industries and the necessity to invest in commodities priced below production costs. Rule notes the recent boom and subsequent decline in Uranium prices, suggesting the easy money has been made. He recommends Cameco Corp (CCJ) for investors interested in Uranium. Rule also believes oil and gas remain lucrative despite market skepticism, citing the minimal impact of alternative energies on hydrocarbon market share.

Portfolio Pulse from Natan Ponieman

March 24, 2024 | 6:00 pm

COPX

CPER

URA

Patricia Mohr, a commodities expert, predicts a surge in prices for copper, uranium, and lithium due to the green energy transition. Copper and uranium are seen as critical for decarbonization and clean energy, respectively, with copper facing operational challenges and uranium prices already on the rise. Lithium prices have fallen but are expected to recover as electric vehicle demand increases. The United States Copper Index Fund (CPER), Global X Copper Miners ETF (COPX), and Global X Uranium ETF (URA) are highlighted as related investment assets.

Portfolio Pulse from Neil Dennis

March 24, 2024 | 5:02 pm

MSTR

MicroStrategy Inc. CEO Michael Saylor, a known Bitcoin advocate, has recently commented on Bitcoin's volatility, referring to it as 'vitality' and a natural part of market dynamics. Despite a nearly 13% decline from its peak price last week, Saylor remains bullish, highlighting Bitcoin's 120% growth over the year and comparing its performance favorably against the S&P 500, Nasdaq, gold, silver, and bonds. MicroStrategy has further increased its Bitcoin holdings, now owning over 1% of the total supply, with recent purchases at an average price of $67,382 per Bitcoin. This strategy emphasizes the company's long-term confidence in Bitcoin as an inflation hedge and cash alternative.

Portfolio Pulse from Bibhu Pattnaik

March 24, 2024 | 2:29 pm

BTCUSD

SHIBUSD

This week in cryptocurrency saw meme coins like Book Of Meme outperform Shiba Inu, major cryptocurrencies including Bitcoin experience significant price drops, and notable figures like Robert Kiyosaki advising investment in Bitcoin and gold over stocks and bonds due to China's economic instability. Binance's announcement to list Book Of Meme boosted its performance, while over $650 million in cryptocurrencies were liquidated following a sharp market sell-off. Predictions from 10x Research about a Bitcoin dip came true, and Peter Schiff criticized CNBC for biased reporting on Bitcoin's performance.

Portfolio Pulse from Benzinga Neuro

March 24, 2024 | 6:53 am

SHIBUSD

Shiba Inu (CRYPTO: SHIB) has seen a 103.45% increase in token burns, with 34,681,610 SHIB tokens removed from circulation, indicating a community-driven effort to enhance its value. Despite market downturns, SHIB's price is recovering, with optimism for a new all-time high around the Bitcoin halving event.

Portfolio Pulse from Bibhu Pattnaik

March 23, 2024 | 6:10 pm

GDX

NEM

RING

Newmont Corporation (NYSE:NEM) is selling its Akyem gold mine in Ghana, targeting $2 billion, with interest from Chinese companies and others. Citigroup, Inc. (NYSE:C) is managing the sale. The move is part of Newmont's strategy to generate cash through divestitures following its acquisition of Newcrest Mining Ltd., aiming to offload six non-core assets to reduce debt and improve financials. NEM stock has declined over the past year, but investors can also gain exposure through ETFs like iShares MSCI Global Gold Miners ETF (NASDAQ:RING) and VanEck Gold Miners ETF (NYSE:GDX).

Portfolio Pulse from Nabaparna Bhattacharya

March 23, 2024 | 4:50 pm