Streetbeat News

Assets

BTG

CGAU

GDX

GOLD

NEM

Gold prices surged to over $2,200 per ounce, influenced by the Federal Reserve's indication of interest rate cuts, leading to a 30% rally in several gold mining stocks. Bank of America analysts favor gold as a trade for 2024, citing its hedge status, central bank accumulations, and potential ETF investor increases. Despite gold's rise, some mining stocks like the VanEck Gold Miners ETF (GDX) lag behind. Bank of America identifies undervalued stocks such as Centerra Gold Inc. (CGAU), B2Gold Corp. (BTG), Barrick Gold Corp. (GOLD), and Newmont Corp. (NEM), recommending stocks with high upside beta ratios.

Portfolio Pulse from Piero Cingari

March 22, 2024 | 3:56 pm

C

Analysis of Citigroup's (NYSE:C) options trading reveals a bearish sentiment among financial giants, with 56% showing bearish tendencies and a focus on a price band between $30.0 and $85.0. The trading volume and open interest indicate liquidity and investor interest in this range. Citigroup's current stock price is $61.05, down by -0.46%, with an RSI indicating it may be overbought. Analyst ratings suggest a consensus target price of $74.67, with Goldman Sachs and Oppenheimer showing optimism.

Portfolio Pulse from Benzinga Insights

March 22, 2024 | 3:45 pm

DAL

Deep-pocketed investors have shown a bearish sentiment towards Delta Air Lines (NYSE:DAL), with a significant move in options trading detected by Benzinga. The trading activity suggests a target price range of $35.0 to $60.0 for DAL over the next 3 months. The majority of the activity is bearish, with a notable volume in call options being interpreted as bearish due to the nature of the trades. Delta Air Lines's stock is slightly down by -0.07%, with an analyst from UBS issuing a Buy rating and a price target of $59.

Portfolio Pulse from Benzinga Insights

March 22, 2024 | 3:45 pm

IBP

Installed Building Prods (NYSE:IBP) has seen a 9.6% increase in short interest since its last report, with 953 thousand shares sold short, representing 4.91% of its float. The current short interest suggests a bearish market sentiment towards IBP, although it has less short interest compared to its peers' average of 5.78%. The article highlights the importance of tracking short interest as it can indicate market sentiment and potentially influence stock prices.

Portfolio Pulse from Benzinga Insights

March 22, 2024 | 3:30 pm

BTCUSD

Guy Turner, host of Coin Bureau, predicts significant growth for Bitcoin (BTC) and altcoins by the end of 2025, with Bitcoin potentially reaching close to $100,000. Turner's optimism is based on expectations of greater political and geopolitical stability, central banks reducing interest rates and being authorized to hold cryptocurrency, and the ease of institutional capital entering the crypto market. Despite the bullish outlook, Turner cautions investors about an eventual downturn.

Portfolio Pulse from Murtuza Merchant

March 22, 2024 | 3:06 pm

LINKUSD

Chainlink (CRYPTO: LINK) experienced a 6.78% price decrease over the past 24 hours, reaching $17.4, and an 11% decrease over the past week from $19.58. The trading volume fell by 57%, and the circulating supply slightly decreased to 587.10 million, representing 58.71% of its max supply. Currently, LINK's market cap ranks #15 at $10.21 billion.

Portfolio Pulse from Benzinga Insights

March 22, 2024 | 3:03 pm

DOGE-USD

Dogecoin (CRYPTO: DOGE) has seen a 6.3% price decrease in the last 24 hours, continuing a negative trend with a 9.0% loss over the past week. The trading volume has decreased by 23.0%, while the circulating supply increased by 0.69%, bringing the total to 143.57 billion. Dogecoin's market cap ranking is now #10 at $21.03 billion.

Portfolio Pulse from Benzinga Insights

March 22, 2024 | 3:02 pm

BTCUSD

Bitcoin (BTC) experienced a 6.19% decrease in price over the last 24 hours, marking a continuation of its 8.0% decline over the past week. The current price stands at $62,770.00. This downward trend is accompanied by a 52.0% drop in trading volume and a slight decrease in circulating supply to 19.66 million, which is 93.62% of its max supply. Bitcoin's market cap remains the highest at $1.23 trillion.

Portfolio Pulse from Benzinga Insights

March 22, 2024 | 3:02 pm

ETHUSD

Ethereum (CRYPTO: ETH) has seen a 6.7% decrease in price over the last 24 hours, continuing a downward trend of -10.0% over the past week. The trading volume for Ethereum has decreased by 50.0%, while its circulating supply has increased by 0.98%. Ethereum's market cap ranking is currently #2 at $396.11 billion.

Portfolio Pulse from Benzinga Insights

March 22, 2024 | 3:01 pm

KMX

CarMax (NYSE:KMX) has seen a decrease in short interest, with 18.24 million shares sold short, representing 11.59% of its float. This is below the peer group average of 12.73%. The reduction in short interest suggests a more bullish sentiment among investors towards KMX.

Portfolio Pulse from Benzinga Insights

March 22, 2024 | 3:00 pm