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BYND

Beyond Meat, Inc. (NASDAQ:BYND) shares are trading higher on above-average volume following the announcement of its fourth generation Beyond Sausage. The company is also cutting its 2024 budget by $70 million. Despite these developments, the stock has fallen 25% year-to-date and faces a potential short-squeeze with 38.88% of shares sold short. Analysts have a mixed outlook with no positive ratings and an average 12-month price target of $6.3.

Portfolio Pulse from Erica Kollmann

June 24, 2024 | 6:27 pm

BTCUSD

DJT

RUM

Former President Donald Trump is in discussions to speak at a Bitcoin convention in Nashville this July. This event could potentially influence the cryptocurrency market and related stocks.

Portfolio Pulse from Benzinga Newsdesk

June 24, 2024 | 6:27 pm

AAPL

AFRM

Affirm Holdings, Inc. (NASDAQ:AFRM) shares are trading higher after Goldman Sachs analyst Will Nance assumed a Buy rating with a $42 price target. The stock had previously fallen due to Apple's discontinuation of its Apple Pay Later feature. Affirm's integration into future iOS versions and new payment options are seen as growth drivers.

Portfolio Pulse from Erica Kollmann

June 24, 2024 | 6:26 pm

NVDA

Constellation Research's Ray Wang predicts Nvidia (NASDAQ: NVDA) stock will hit $200 within 12 months, citing factors like visionary leadership, high barriers to entry, high switching costs, dominant market share, a robust product roadmap, a strong ecosystem, and impressive financials. Wang views the current pullback as a buying opportunity.

Portfolio Pulse from Adam Eckert

June 24, 2024 | 6:26 pm

NVO

Novo Nordisk announced a $4.1 billion investment in a new facility in North Carolina, as reported by Bloomberg.

Portfolio Pulse from Benzinga Newsdesk

June 24, 2024 | 6:16 pm

LLY

NVO

Eli Lilly (NYSE:LLY) may benefit from supply issues at competitor Novo Nordisk (NYSE:NVO) due to recent fires at Novo Nordisk's facilities. Reddit users speculate on a potential stock split for Eli Lilly and highlight upcoming FDA approval for an Alzheimer's drug and a new $10 billion plant construction.

Portfolio Pulse from Surbhi Jain

June 24, 2024 | 6:08 pm

ENPH

Investors with significant capital have shown a bullish stance on Enphase Energy (NASDAQ:ENPH) through options trading. Benzinga's options scanner identified 13 unusual options trades, with a mix of 46% bullish and 38% bearish sentiment. The trades suggest a price range of $100 to $180 for ENPH over the next three months. The stock is currently trading at $105.36, down by 1.23%, and may be approaching oversold territory. Analysts have given an average target price of $146.67, with recent upgrades and buy ratings from HSBC, JP Morgan, and Canaccord Genuity.

Portfolio Pulse from Benzinga Insights

June 24, 2024 | 6:01 pm

AAPL

AMD

AVGO

GOOGL

INTC

META

MRVL

MSFT

NVDA

ORCL

Nvidia is dominating the GPU market as generative AI adoption grows, with nearly half of enterprises implementing GenAI. Microsoft and OpenAI are seen as the most strategic AI vendors, while interest in Google Cloud, Meta, and Oracle is increasing. Nvidia leads the GPU market with over 70% share, followed by AMD and Intel. Broadcom is the leader in networking for enterprise adoption. Apple devices are expected to grow in enterprise use.

Portfolio Pulse from Anusuya Lahiri

June 24, 2024 | 5:59 pm

MSFD

MSFT

MSFU

NVDA

Microsoft (MSFT) and Nvidia (NVDA) show contrasting performances, with MSFT holding steady and NVDA dropping 5%. This impacts Direxion's leveraged ETFs: MSFU (bullish on MSFT) and MSFD (bearish on MSFT). MSFU has gained 30% YTD, while MSFD has lost 17%. Investors should consider these ETFs for short-term trades.

Portfolio Pulse from Joshenomoto@benzinga.com

June 24, 2024 | 5:52 pm

NNE

Nano Nuclear Energy Inc (NASDAQ:NNE) shares surged by 37.8% to $21.69 after the company acquired intellectual property for an annular linear induction pump used in small nuclear reactor cooling and heat transfer. Dr. Carlos O. Maidana will collaborate as a consultant to further develop this technology, aiming for SBIR Phase III Award status.

Portfolio Pulse from Henry Khederian

June 24, 2024 | 5:50 pm