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Cathie Wood-led Ark Invest sold nearly $28M worth of Robinhood shares amid the launch of Robinhood's new cryptocurrency trading API and lackluster Bitcoin price action. The sell-off involved multiple Ark ETFs and aligns with Ark's strategy to manage exposure to cryptocurrency-related stocks.

Portfolio Pulse from Benzinga Neuro

May 31, 2024 | 3:38 am

COIN

Shiba Inu (SHIB) saw a 246% increase in its burn rate, with 8.2 million tokens removed from circulation. This spike coincides with the listing of SHIB perpetual futures on Coinbase International Exchange and Coinbase Advanced.

Portfolio Pulse from Aniket Verma

May 31, 2024 | 3:14 am

COST

DELL

DJT

MDB

TSLA

U.S. markets closed in the red on Thursday with the Dow Jones, S&P 500, and Nasdaq all declining. Key stocks on investors' radars included Trump Media & Technology Group, Costco, Dell, MongoDB, and Tesla. Trump Media saw a notable drop in after-hours trading following a guilty verdict for Donald Trump. Costco reported strong third-quarter revenue, beating expectations. Dell's stock fell despite strong year-to-date performance and upcoming earnings. MongoDB shares plummeted after weak forward guidance. Tesla's stock rose as the company prepares to register its 'Full Self-Driving' software in China.

Portfolio Pulse from Benzinga Neuro

May 31, 2024 | 2:24 am

BTCUSD

DOGEUSD

ETHUSD

The cryptocurrency market remained steady on Thursday with Bitcoin gaining slightly while Ethereum and Dogecoin traded lower. Bitcoin faced resistance after breaching its all-time high, and Ethereum failed to hold $3,800. Analysts suggest Bitcoin is not likely to break out soon post-halving. Stocks ended in the red, with major indices recording losses.

Portfolio Pulse from Aniket Verma

May 31, 2024 | 1:49 am

AMD

ARM

INTC

NVDA

QCOM

TSM

The CEOs of major U.S. chip companies, including Nvidia, AMD, Intel, Qualcomm, and Arm, will gather at Taiwan's Computex event to discuss the future of AI. The event highlights Taiwan's growing importance in the global tech industry, particularly in AI hardware and semiconductors.

Portfolio Pulse from Ananya Gairola

May 31, 2024 | 1:41 am

GBTC

HOOD

Cryptocurrency markets traded mostly sideways on Thursday, with Bitcoin showing slight gains while Ethereum and Dogecoin disappointed. Notable developments include Elon Musk advising Donald Trump on crypto policy and IBIT overtaking GBTC as the biggest Bitcoin ETF. Technical analysts highlight key resistance and support levels for Bitcoin.

Portfolio Pulse from Ivan Crnogatić

May 30, 2024 | 10:01 pm

RDFN

Home sellers are slashing prices at the fastest rate in nearly two years due to high mortgage rates. Redfin Corp (NASDAQ:RDFN) reported a decline in median asking prices and an increase in the percentage of price cuts. The housing market faces challenges as mortgage rates remain high, impacting home sales and purchase applications.

Portfolio Pulse from Chris Katje

May 30, 2024 | 9:55 pm

ALK

Alaska Airlines has purchased a 19-acre property from Unico Properties for $85.75 million, which includes a 600,000-square-foot facility. The airline plans to invest an additional $100 million to renovate the space and open a new training hub in 2025.

Portfolio Pulse from Benzinga Newsdesk

May 30, 2024 | 9:51 pm

WBD

Warner Bros. Discovery Inc.'s (NASDAQ:WBD) Avalanche Software announced a major update for Hogwarts Legacy, set for release on June 6. The update includes new features such as a photo mode, a new quest, and the ability to reset Talent Points. The game, which has sold 22 million copies in 2023, will now offer previously PlayStation-exclusive content to other platforms.

Portfolio Pulse from Franca Quarneti

May 30, 2024 | 9:43 pm

VNDA

Vanda Pharmaceuticals Inc. (NASDAQ:VNDA) has gained ownership of the U.S. New Drug Application and Investigational New Drug Applications for PONVORY® (ponesimod) from a Johnson & Johnson Company, allowing Vanda to fully commercialize the drug in the U.S.

Portfolio Pulse from Benzinga Newsdesk

May 30, 2024 | 9:07 pm