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NIO

RIVN

TSLA

Mizuho downgraded Tesla, Rivian, and Nio to Neutral from Buy due to slowing EV demand and rising inventories. Tesla's price target was lowered to $195, Rivian's to $12, and Nio's to $5.50. The firm highlighted challenges such as limited affordability, higher insurance costs, and a lack of charging infrastructure as headwinds for the EV market. Despite these downgrades, Tesla shares were up, Rivian shares were down, and Nio shares were up at publication time.

Portfolio Pulse from Adam Eckert

March 25, 2024 | 5:18 pm

ISRG

Market whales have shown significant interest in Intuitive Surgical (NASDAQ:ISRG) options, with a mix of bullish and bearish bets. Benzinga's options scanner revealed 8 unusual trades, evenly split between bullish and bearish sentiments. The trades focus on a price range of $390.0 to $450.0 for ISRG, with the largest trades being a bullish call for $118.9K and a bearish put for $93.0K. The company, known for its da Vinci robotic surgical systems, has over 8,600 units installed worldwide. The stock's current price is $394.07, with an RSI indicating it may be approaching overbought territory. Analysts have set an average price target of $420.0 for ISRG, with Stifel recently lowering its rating to Buy.

Portfolio Pulse from Benzinga Insights

March 25, 2024 | 5:16 pm

VRA

Small Cap Consumer Research analyst Eric M Beder maintains a Buy rating on Vera Bradley Inc (NASDAQ:VRA) with a $10.00 price target, highlighting the company's focus on core categories and the success of the new Belle collection. The analyst notes a shift towards smaller, novelty items in handbags and accessories, and anticipates a 'bumpy' period through 1HFY25 as Vera Bradley repositions for a 'New Day'. VRA shares rose 3.42% to $6.51.

Portfolio Pulse from Shivani Kumaresan

March 25, 2024 | 5:13 pm

CVS

WBA

The U.S. Supreme Court is set to hear arguments challenging the safety of the abortion pill, mifepristone, which is used in over half of U.S. abortions. Opponents cite studies by Gynuity Health Projects to argue against its safety, despite its long-standing FDA approval. The Biden administration opposes easing FDA restrictions on mifepristone, emphasizing drug safety regulation. The case follows the Dobbs ruling, which affected federal abortion protections. CVS Health Corp and Walgreens Boots Alliance Inc plan to dispense mifepristone, aligning with FDA guidelines.

Portfolio Pulse from Vandana Singh

March 25, 2024 | 5:09 pm

NVDA

SOUN

STLA

WISE

XSW

SoundHound AI, Inc (NASDAQ:SOUN) announced the launch of its ChatGPT-integrated voice assistant in Japanese vehicles, marking a first in the automotive industry. This technology, named SoundHound Chat AI Automotive, will be featured in Stellantis NV's (NYSE:STLA) DS Automobiles in Japan starting April 2023. The assistant, Iris, enables hands-free operations like trip planning and accessing live parking information. SoundHound AI's technology, which also runs on Nvidia Corp's (NASDAQ:NVDA) DRIVE platform, aims to reduce 'AI hallucinations' for more accurate responses. The company's stock is accessible through Themes Generative Artificial Intelligence ETF (NASDAQ:WISE) and SPDR S&P Software & Services ETF (NYSE:XSW), and has seen a 178% increase over the last 12 months, despite a 2.94% drop to $5.96 recently.

Portfolio Pulse from Anusuya Lahiri

March 25, 2024 | 5:03 pm

BTCUSD

Bitcoin (BTC) surpassed the $70,000 mark again, indicating a bullish trend as it prepares for the Benzinga's Future of Digital Assets conference. Crypto strategist Kevin Svenson predicts a rally towards $76,000, citing an 'inverse head and shoulders' pattern and positive MACD indicator momentum.

Portfolio Pulse from Murtuza Merchant

March 25, 2024 | 4:51 pm

FLGC

Flora Growth Corp. (NASDAQ:FLGC) shares surged over 35% in the past five days, driven by optimism that the DEA may reschedule cannabis following comments from Vice President Kamala Harris and the German government's approval of cannabis legalization. Flora Growth, a multi-national cannabis company, operates in the US, Germany, Colombia, the UK, and Canada. Despite recent gains, a long-term forecast based on past performance suggests a potential decline in stock price.

Portfolio Pulse from Erica Kollmann

March 25, 2024 | 4:42 pm

GME

GameStop (NYSE:GME) is anticipated to report Q4 earnings with a focus on profitability and Ryan Cohen's new role in investing company cash. Analysts expect $2.05 billion in revenue and earnings per share of 29 cents. A significant development is the Board's decision to allow investments in equity securities, overseen by CEO Ryan Cohen, which has been criticized by analysts. Investors are keen on GameStop's investment decisions, future growth opportunities, and the potential impact of digital sales shifts on the company.

Portfolio Pulse from Chris Katje

March 25, 2024 | 4:39 pm

BYDDY

DRIV

NIO

TSLA

Tesla Inc (TSLA) is adjusting its strategy to focus on profitability over volume, with price increases for the Model Y in the U.S. and Eurozone amid reports of slowing production in China due to competition and slowing EV sales. Analysts at Oppenheimer believe this shift towards maximizing value per vehicle and leveraging software updates, particularly in Full Self-Driving, could enhance revenue. However, Tesla's stock has declined nearly 32% in 2024, while the Global X Autonomous & Electric Vehicles ETF (DRIV) remains flat. Oppenheimer maintains a Perform market rating for Tesla, highlighting its potential as a transformational technology company.

Portfolio Pulse from Neil Dennis

March 25, 2024 | 4:08 pm

AXSM

Axsome Therapeutics Inc (NASDAQ:AXSM) announced positive results from the SYMPHONY Phase 3 trial of AXS-12 in narcolepsy patients, showing significant improvements in cataplexy attacks, excessive daytime sleepiness, and other symptoms compared to placebo. Despite the positive trial results, AXSM shares dropped 3.84% to $77.56.

Portfolio Pulse from Vandana Singh

March 25, 2024 | 4:08 pm