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AEM

DUST

FNV

GOLD

NEM

NUGT

WPM

Direxion Daily Gold Miners Index Bull 2X Shares (NUGT) experienced a consolidation on Tuesday after a significant rise, moving in tandem with a decrease in spot gold prices. The ETF, which aims to outperform the NYSE Arca Gold Miners Index by 200%, saw a downturn on decreasing volume, suggesting a pause rather than a shift in market control. NUGT's top holdings include Newmont Corp (NEM), Barrick Gold Corp (GOLD), Agnico Eagle Mines Ltd (AEM), Wheaton Precious Metals Corp (WPM), and Franco-Nevada Corp (FNV). The article also mentions Direxion Daily Gold Miners Index Bear 2X Shares (DUST) for bearish traders.

Portfolio Pulse from Melanie Schaffer

March 12, 2024 | 6:16 pm

RUM

Rumble, Inc. (NASDAQ:RUM) has expressed interest in becoming a cloud technology partner for TikTok, as revealed in an offer letter posted by CEO Chris Pavlovski. The letter highlights Rumble's recent launch of the Rumble Cloud, emphasizing its secure, US-based infrastructure. The news has sparked discussions among traders on Stocktwits, with many seeing significant growth potential for Rumble if it becomes TikTok's partner, especially in light of potential bipartisan support to ban TikTok unless it meets certain requirements. Rumble's stock was trending on Stocktwits, with a notable increase in trading volume and a 17.6% rise in share price to $7.86.

Portfolio Pulse from Erica Kollmann

March 12, 2024 | 6:01 pm

ETH-USD

On Monday, 14,216.86 Ether (ETH) worth approximately $56M was burned, permanently removing it from circulation. This action follows the Ethereum blockchain's EIP-1159 upgrade, which introduced a variable base fee for transactions that is burned. The Ethereum network is currently issuing new Ether at a 4% annual rate, expected to decrease with the Ethereum 2.0 upgrade, potentially making ETH a deflationary currency. The net annualized issuance rate for Ether was -18.30% yesterday.

Portfolio Pulse from Benzinga Insights

March 12, 2024 | 6:00 pm

RIVN

TSLA

Rivian Automotive Inc (RIVN) held its R2/R3 launch event, receiving positive feedback from investors and RBC Capital. Analyst Tom Narayan reiterated a Sector Perform rating with a $15 price target, noting Rivian's strategy changes, including production shifts and battery options, could accelerate profitability. However, concerns about competition and EV demand persist, advising investors to wait for proof of profitable vehicle production.

Portfolio Pulse from Adam Eckert

March 12, 2024 | 5:48 pm

META

PSTG

Pure Storage (PSTG) shares are declining as traders share information from 'The Fly' indicating that Meta Platforms (META) appears to be moving away from using third-party Pure Storage hardware for AI, according to Wedbush.

Portfolio Pulse from Benzinga Newsdesk

March 12, 2024 | 5:46 pm

JAZZ

Paige Figi, mother of Charlotte Figi who inspired the FDA-approved CBD medicine Epidiolex by Jazz Pharmaceuticals (NASDAQ:JAZZ), advocates for CBD access and regulation through her non-profit, Coalition for Access Now. Despite CBD's legalization under the 2018 Farm Act, the market remains unregulated, posing safety risks. Figi supports bills H.R. 1629 and S. 2451 to regulate CBD as a dietary supplement, emphasizing the urgency due to the wide-ranging benefits of CBD for various consumer groups.

Portfolio Pulse from Nina Zdinjak

March 12, 2024 | 5:44 pm

COIN

HUT

MARA

MSTR

TSLA

A new report reveals that institutional investors, including publicly traded companies, private firms, countries, and ETFs, hold over 11% of all Bitcoin, with MicroStrategy, Marathon Digital Holdings, Tesla, Hut 8 Corp, and Coinbase Global being major corporate holders. This trend underscores Bitcoin's growing acceptance as an asset class among established corporations, potentially leading to wider adoption and price stability. Bitcoin ETFs also emerge as a significant avenue for investment, holding 4.655% of the total Bitcoin supply.

Portfolio Pulse from Murtuza Merchant

March 12, 2024 | 5:43 pm

DAL

Delta Air Lines is resuming its daily nonstop flights between New York-JFK and Venice Marco Polo Airport, utilizing a Boeing 767-300 aircraft with 216 seats.

Portfolio Pulse from Benzinga Newsdesk

March 12, 2024 | 5:36 pm

DISH

FOXA

Fox has announced the expansion of its FOX Nation distribution to include DISH Network and SLING TV. This move is aimed at increasing the reach and accessibility of FOX Nation's content, potentially attracting more subscribers and enhancing viewer engagement across these platforms.

Portfolio Pulse from Benzinga Newsdesk

March 12, 2024 | 5:15 pm

SOLUSD

Solana (SOL) has seen an 11% increase over the past week, with predictions of significant growth in the upcoming crypto cycle. Raoul Pal, CEO of Real Vision, highlighted Solana's potential, comparing it to Ethereum's performance in the previous cycle and forecasting a surge between 235% and 570% from current levels. The rise in Solana addresses and total value locked indicates increased adoption and user engagement. Daily transactions on Solana have surpassed those on Ethereum and other major blockchains, with a notable increase in daily active addresses and value moved on-chain.

Portfolio Pulse from Khyathi Dalal

March 12, 2024 | 5:13 pm