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TSLA

Tesla's Cybertruck has become a popular choice among celebrities since its first deliveries in November 2023. Musicians Big Sean and Steve Aoki are the latest to own the electric pickup, with both sharing their experiences on social media. Tesla CEO Elon Musk engaged with these posts, highlighting the vehicle's appeal without offering celebrity discounts. The Cybertruck's visibility on celebrity platforms may serve as effective marketing for Tesla, which traditionally spends minimally on advertising.

Portfolio Pulse from Chris Katje

March 20, 2024 | 4:45 pm

WULF

TeraWulf, Inc. (NASDAQ:WULF) shares rose after reporting Q4 financial results, with a significant increase in self-mining capacity and Bitcoin production, despite missing earnings and sales estimates. The company aims to expand its mining capacity and explore HPC and AI applications. Cantor Fitzgerald maintained a $4 price target.

Portfolio Pulse from Erica Kollmann

March 20, 2024 | 4:44 pm

SLRN

Acelyrin Inc (NASDAQ:SLRN) released positive Phase 1/2 trial data for lonigutamab in thyroid eye disease, showing rapid improvements in symptoms with no serious adverse events. A Phase 2b/3 trial is planned for the second half of 2024. SLRN shares rose 6.53% to $8.48.

Portfolio Pulse from Vandana Singh

March 20, 2024 | 4:34 pm

SOFI

Recent analysis of SoFi Techs (NASDAQ:SOFI) options trading reveals a balanced sentiment among traders, with equal bullish and bearish tendencies. The observed trades suggest a targeted price range of $5.0 to $12.0. Despite the mixed trading sentiment, the current market performance of SOFI shows a slight increase in stock price to $6.93, with potential oversold conditions. Analyst ratings from Piper Sandler and Wedbush indicate a downward revision, setting new price targets at $8 and $3, respectively.

Portfolio Pulse from Benzinga Insights

March 20, 2024 | 4:16 pm

TIGR

UP Fintech Holding Limited (NASDAQ:TIGR) reported its fourth-quarter FY23 results, showing a mixed financial performance. Total revenues increased by 9.6% year-over-year to $70.0 million, but total net revenues decreased by 4.7% to $54.0 million. The company saw a decline in commissions by 11.9% due to decreased trading volume, but interest income rose by 31.3% on higher margin financing and securities lending activities. UP Fintech added 39,034 new funded accounts, a 42.8% increase year-over-year, and the total account balance rose by 118.5% to $30.6 billion. However, non-GAAP net income per ADS was $0.007, missing the consensus of $0.07. The company also announced the introduction of the Combo Option Strategy feature and an upgrade to its Type 1 License by the Hong Kong SFC, allowing it to offer Virtual Asset dealing services to Professional Investors. Despite these developments, TIGR shares are down by 10.1% at $4.02.

Portfolio Pulse from Lekha Gupta

March 20, 2024 | 4:10 pm

BBY

Best Buy Co Inc (NYSE:BBY) reported higher-than-expected Q4 results, leading to an upgrade from Market Perform to Outperform by Telsey Advisory Group's Joseph Feldman, with a price target increase from $85 to $95. The upgrade is based on signs of stabilization and improvement in the business after nine quarters of negative comps. The company is expected to benefit from the start of a replacement cycle for products bought between 2019 and 2020, innovation in products like Samsung's AI-enabled phone and Microsoft’s Copilot laptops, and growth in higher margin services.

Portfolio Pulse from Priya Nigam

March 20, 2024 | 4:09 pm

ARTL

Artelo Biosciences has received a European patent (EP3723752) for new solid forms of cannabidiol (CBD), aimed at various medical treatments. This patent could potentially enhance Artelo's intellectual property portfolio and open up new avenues for the development and commercialization of CBD-based treatments in Europe.

Portfolio Pulse from Benzinga Newsdesk

March 20, 2024 | 4:06 pm

PEP

SMX has entered a pilot program with PepsiCo to combat counterfeiting and ensure product authenticity. Initial tests were successful, and both parties are considering scaling the technology across operations. This technology has proven effective in accurately identifying marked PepsiCo packaging, enhancing brand integrity and supply chain transparency.

Portfolio Pulse from Benzinga Newsdesk

March 20, 2024 | 3:40 pm

CGC

Canopy Growth Corporation (NASDAQ:CGC) shares surged over 50% since Monday, influenced by Vice President Kamala Harris's comments on the need for the DEA to quickly reschedule marijuana. Harris highlighted the current classification of marijuana as more dangerous than fentanyl and as dangerous as heroin. The stock's trading volume significantly exceeded its 100-day average, with over 8.6 million shares traded. Despite the recent surge, a long-term forecast using a trend analysis suggests a bleak outlook, with an annualized performance of -61.35% over the past 5 years, potentially leading to a stock price of $0.04 in the future.

Portfolio Pulse from Erica Kollmann

March 20, 2024 | 3:34 pm

RIVN

TSLA

The Biden administration is reportedly toughening auto-emission mandates, a move that could significantly impact automakers, particularly those involved in electric vehicle (EV) production such as Rivian (RIVN) and Tesla (TSLA). This regulatory shift aims to accelerate the transition towards cleaner transportation options and could influence the competitive landscape in the automotive industry.

Portfolio Pulse from Benzinga Newsdesk

March 20, 2024 | 3:32 pm