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Benzinga's weekly review highlights significant movements and sentiments in the stock and cryptocurrency markets, with a focus on Nvidia, Tesla, Meta, and the broader semiconductor sector. Inflation concerns and Federal Reserve's interest rate decisions have created market uncertainty. A DEA rumor boosted cannabis stocks, while significant investments in AI and robotics, along with Elon Musk's comments on Dogecoin, influenced investor sentiment. Disputes and criticisms involving Lucid, Meta, and cryptocurrency valuations also shaped the week's bearish outlooks.

Portfolio Pulse from Michael Cohen

March 16, 2024 | 1:24 pm

AMD

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MSFT

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RCL

Inflation reports ahead of the Fed meeting showed unexpected price pressures, affecting markets and investor sentiment. Crypto and AI stocks like NVIDIA, AMD, and Microsoft saw declines, while commodities like gold and oil advanced. The uncertainty around Federal Reserve's interest rate decisions and diverging expert opinions add to the market's volatility. Meanwhile, optimism in the cruise sector is seen with bullish outlooks on Royal Caribbean and Carnival Corp. Concerns over potential insider trading arose from a congressman's sale of Boeing stock. The advancement of a bill targeting TikTok raises debates and concerns among influencers and figures like Elon Musk. Cannabis stocks surged on speculation of DEA's rescheduling of cannabis to Schedule III.

Portfolio Pulse from Piero Cingari

March 15, 2024 | 8:39 pm

GOEV

Canoo (NYSE:GOEV) has seen a 37.45% increase in short interest, now at 14.02% of float, indicating a bearish market sentiment. Despite this, high short interest can sometimes be bullish. Canoo's short interest is above its peer group average of 9.50%.

Portfolio Pulse from Benzinga Insights

March 15, 2024 | 8:30 pm

EXP

Eagle Materials (NYSE:EXP) has received diverse analyst ratings over the last three months, with a majority being bullish. Recent updates show an average 12-month price target of $239.83, marking a 12.86% increase from the previous target. The company's financial overview highlights a positive revenue trend, exceptional net margin, and strong ROE and ROA, despite challenges in debt management. Analysts from firms like Truist Securities, Citigroup, and Goldman Sachs have raised their price targets, reflecting optimism about the company's performance.

Portfolio Pulse from Benzinga Insights

March 15, 2024 | 8:00 pm

QQQI

QYLD

SPYI

The NEOS Nasdaq-100 High Income ETF (QQQI) aims to offer high monthly income and tax efficiency by replicating the Nasdaq-100 Index and using out-of-the-money covered call strategies. It's introduced by the same team behind the successful NEOS S&P 500 High Income ETF (SPYI), which outperformed other S&P 500 covered call ETFs in 2023. QQQI's strategy differs from the GlobalX Nasdaq 100 Covered Call ETF (QYLD) by aiming for higher income and potential share price appreciation. Early performance shows promising results with a higher distribution yield compared to QYLD.

Portfolio Pulse from Austin Hankwitz

March 15, 2024 | 7:32 pm

Significant bearish options activity has been detected in SentinelOne (NYSE:S), with a notable volume of puts compared to calls. The options trading suggests a price target range of $20.0 to $35.0. SentinelOne, a cloud-based cybersecurity firm, has seen its stock price slightly decrease, with an RSI indicating it may be oversold. Analysts have mixed ratings on the stock, with price targets ranging from $24 to $33.

Portfolio Pulse from Benzinga Insights

March 15, 2024 | 7:15 pm

SLE

Super League Enterprise (SLE) has filed a prospectus for the potential resale of up to 16 million shares of common stock by selling stockholders. This move could indicate a future increase in stock liquidity and potential dilution for current shareholders.

Portfolio Pulse from Benzinga Newsdesk

March 15, 2024 | 6:29 pm

BTCUSD

NFL player Russell Okung became the first athlete in North American major sports to receive part of his salary in Bitcoin, converting 50% of his $13 million salary in 2020 through Zap's Strike product. Assuming the conversion rate was $27,370.72 per Bitcoin, Okung's Bitcoin salary would now be worth $16,149,663.21, based on a current price of $68,004.28 per Bitcoin. Okung, known for his passion for Bitcoin, continues to support it on social media.

Portfolio Pulse from Chris Katje

March 15, 2024 | 6:25 pm

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