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TSLA

Bitcoin's market capitalization has surpassed Tesla's, reaching $750 billion, and now exceeds that of 494 companies in the S&P 500. This surge is driven by optimism about the approval of a Bitcoin ETF by year-end. Bitcoin's price has surged by 130% since the beginning of the year, outpaced only by NVIDIA and Meta Platforms in the S&P 500's company rankings based on year-to-date gains. Bitcoin-related stocks such as Marathon Digital Holdings, Riot Platforms, and Coinbase surged 18%, 13%, and 10% respectively.

Portfolio Pulse from Piero Cingari

November 09, 2023 | 4:20 pm

ELF

Spruce Point Capital Management has released a report expressing strong sell research opinion on e.l.f. Beauty, Inc. (NYSE:ELF). The report questions e.l.f. Beauty's partnership with Movers+Shakers, an advertising agency co-founded by former members of the NXIVM cult. Spruce Point suggests that e.l.f. Beauty's marketing messages are similar to those used within the NXIVM cult and questions whether e.l.f. Beauty's core values align with retail partners such as Walmart, Target, and Ulta Beauty. Spruce Point sees a 45% to 65% long-term downside risk to e.l.f. Beauty's share price.

Portfolio Pulse from Benzinga Newsdesk

November 09, 2023 | 4:14 pm

AMAT

The article provides a comprehensive comparison of Applied Materials (AMAT) and its competitors in the Semiconductors & Semiconductor Equipment industry. AMAT's P/E ratio is significantly below the industry average, suggesting undervaluation. However, its P/B and P/S ratios are above the industry average, indicating potential overvaluation in terms of book value and sales performance. AMAT's ROE, EBITDA, gross profit, and revenue growth are higher than its industry peers, indicating strong financial performance and growth potential. The company also has a lower debt-to-equity ratio compared to its top 4 peers.

Portfolio Pulse from Benzinga Insights

November 09, 2023 | 4:00 pm

ADSK

The article provides an in-depth analysis of Autodesk (NASDAQ:ADSK) and compares it with its competitors in the software industry. Autodesk's P/E ratio is lower than the industry average, indicating potential undervaluation. However, its P/B ratio is higher, suggesting overvaluation in terms of book value. The company's P/S ratio is lower than the industry average, indicating potential undervaluation based on sales performance. Autodesk's ROE is higher than the industry average, suggesting efficient use of equity. However, its EBITDA and gross profit are lower than the industry average, indicating potential lower profitability. The company's revenue growth is also below the industry average.

Portfolio Pulse from Benzinga Insights

November 09, 2023 | 4:00 pm

GSAT

SPCE

UFO

Virgin Galactic Holdings, Inc (NYSE:SPCE) reported strong Q2 results, beating expectations and showing significant growth, which led to a surge in its stock price. The company's earnings loss was 28 cents per share on revenue of $1.73 million, better than the estimated loss of 43 cents per share. Investors interested in the space sector may also consider the Procure Space ETF (NASDAQ:UFO), which invests in companies in the space sector, including Virgin Galactic. The ETF also holds Planet Labs PBC (NYSE:PL) and Globalstar, Inc (AMEX:GSAT), both involved in the current Middle East crisis.

Portfolio Pulse from Melanie Schaffer

November 09, 2023 | 3:58 pm

BRK

JNJ

JPM

WFC

WMT

A report from ProPublica suggests that Warren Buffett, CEO of Berkshire Hathaway, may have conducted private trades that could represent a conflict of interest. The report cites instances where Buffett sold stocks in his personal portfolio that Berkshire Hathaway was trading, including Wells Fargo, JPMorgan Chase, Johnson & Johnson, and Walmart. Berkshire Hathaway's ethics policies, written by Buffett, state that no employee can trade stocks personally before transactions of Berkshire are publicly disclosed.

Portfolio Pulse from Chris Katje

November 09, 2023 | 3:56 pm

GOLD

Barrick Gold (NYSE:GOLD) has seen unusual options activity, with a significant number of investors adopting a bullish approach. The company's options scanner highlighted 10 extraordinary options activities, with 60% leaning bullish and 40% bearish. The mean open interest for Barrick Gold options trades today is 15709.67 with a total volume of 21,285.00. Analysts from Raymond James and BMO Capital maintain an Outperform rating on Barrick Gold, with target prices of $25 and $30 respectively.

Portfolio Pulse from Benzinga Insights

November 09, 2023 | 3:47 pm

EIS

SPY

The White House's Kirby announced that Israel will start implementing four-hour pauses in Northern Gaza each day. The impact on US-listed ETFs EIS and SPY is unclear.

Portfolio Pulse from Benzinga Newsdesk

November 09, 2023 | 3:34 pm

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