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ENOV

Needham analyst Mike Matson has reiterated a Buy rating on Enovis Corporation (NYSE:ENOV) and raised the price target to $70 from $62, selecting it as his top pick for 2024 and adding it to the Needham Conviction List. Matson cites multiple growth drivers including the EMPOWR Revision launch, ARVIS 2.0 launch, and the Lima acquisition. He notes ENOV's attractive valuation at 11.1x the 2024 EBITDA estimate and expects continued EBITDA margin improvement. Matson anticipates the EMPOWR Revision system will gain momentum in 2024 and projects further accretive acquisitions. FY23 EPS is expected to be $2.32 with revenues of $1.698 billion. ENOV shares traded slightly lower at $53.45.

Portfolio Pulse from Nabaparna Bhattacharya

December 15, 2023 | 7:38 pm

GKOS

The FDA approved Glaukos Corporation's (NYSE:GKOS) iDose TR for glaucoma treatment, with a cost of $13,950 per dose, exceeding the expected $3,000-$4,000 range. William Blair anticipates it to be Glaukos' most successful product, revolutionizing glaucoma treatment and estimates a market opportunity over $10 billion. The firm maintains an Outperform rating on GKOS, whose shares rose 4.74% to $79.33.

Portfolio Pulse from Vandana Singh

December 15, 2023 | 6:49 pm

AMZN

CHWY

During Chewy Inc's Investor Day, the company projected FY24 sales growth below its long-term target but expects a 10% adjusted EBITDA margin and margin accretion in FY24. Needham Analyst Anna Andreeva highlighted Chewy's untapped potential in the pet health market, noting over 20% of customers use Chewy pharmacy. Needham maintains a Buy rating on Chewy with a raised price target of $25. Chewy's Autoship feature contributes to customer loyalty and high annual spending. The company is expanding its market reach with the inclusion of clinics. Chewy's stock (CHWY) rose 4.63% to $21.13. Amazon (AMZN) is mentioned as a competitor in the online pet industry.

Portfolio Pulse from Vandana Singh

December 15, 2023 | 6:48 pm

TSLA

A new video test reveals that Tesla Inc's (NASDAQ:TSLA) Cybertruck is not only bulletproof but also resistant to damage from shopping carts. The test, conducted by YouTuber Carwow, showed no lasting damage to the vehicle's stainless steel frame after being hit by a shopping cart. The Cybertruck, with a starting price ranging from $60,990 to $99,990, is anticipated to start deliveries in 2024 and 2025, with the early Foundation Series model priced at $120,000. This durability feature may be an added bonus for future owners concerned about vehicle damage in parking lots.

Portfolio Pulse from Chris Katje

December 15, 2023 | 6:38 pm

SHIBUSD

Shiba Inu (CRYPTO: SHIB), a decentralized meme token, has been experiencing a bullish trend with a 14% increase over the past month. Currently ranked 16th by market cap, SHIB's price is at $0.00000971. Changelly predicts a short-term increase to $0.00001072 by Dec. 16, 2023, and substantial long-term growth, with a potential peak at $0.0001609839 by 2030. Despite the optimism, investors are reminded of the crypto market's volatility and the need for thorough research.

Portfolio Pulse from Murtuza Merchant

December 15, 2023 | 6:05 pm

ETHUSD

On Thursday, 9,635.34 Ether (ETH) valued at $21.49 million was burned due to the EIP-1159 upgrade implemented on August 5th, 2021, which introduced a variable base fee for transactions that is permanently removed from circulation. This has led to a net annualized issuance rate of -11.86% for Ether, with expectations that the Ethereum 2.0 upgrade will further reduce the issuance rate and potentially make ETH a deflationary currency.

Portfolio Pulse from Benzinga Insights

December 15, 2023 | 6:00 pm

ACRDF

CBSTF

CRLBF

New York Governor Kathy Hochul announced the launch of 12 new dispensaries for recreational cannabis, aiming to have over 35 open by the end of 2023. The expansion is part of the state's commitment to an equitable cannabis market. The NY Supreme Court recently lifted an injunction that had been blocking retail dispensary licenses. Companies like Acreage Holdings Inc., Cresco Labs Inc., and The Cannabist Company Holdings Inc. are among those permitted to sell adult-use cannabis. Experts suggest cannabis stocks are now poised for growth.

Portfolio Pulse from Jelena Martinovic

December 15, 2023 | 5:54 pm

TSLA

Tesla, Inc (NASDAQ:TSLA) faces legal challenges over its Autopilot system, with allegations of misleading marketing and failure to deliver promised capabilities. The company recalled 2.03 million vehicles due to concerns about the Autopilot system. Lawsuits in the U.S. include claims from families of individuals who died in accidents involving Autopilot. A trial for a fatal crash in California is set for March. Tesla has won some cases by attributing accidents to driver error. Regulators are concerned that the Autopilot system might encourage misuse, leading to accidents. TSLA shares were up by 0.43% at $252.13.

Portfolio Pulse from Anusuya Lahiri

December 15, 2023 | 5:52 pm

SONY

Naughty Dog, a subsidiary of Sony Group Corp. (NYSE:SONY), has canceled the development of The Last of Us Online, a multiplayer spin-off of its popular series. The studio faced challenges in managing resources between live-service game content and future single-player narrative projects. The decision was announced on December 14, with the studio opting to focus on single-player games, which align with its heritage. Despite the cancellation, Naughty Dog has gained valuable insights from the project and is working on multiple new single-player games. Sony has been pushing for more live-service games, but has also indicated delays in its online game projects during a November earnings call.

Portfolio Pulse from Franca Quarneti

December 15, 2023 | 5:50 pm

BABA

PDD

Alibaba Group Holding Limited (NYSE:BABA) stock is up on Friday due to reports of a significant stimulus to boost liquidity and the company's increased focus on AI for e-commerce growth. Alibaba is integrating AI into its core business, restructuring its AI efforts, and has launched new AI tools like Taobao Wenwen and Aidge. The company's strategic shift to AI is in response to increasing competition, as evidenced by PDD Holdings Inc's (NASDAQ:PDD) rising market valuation. Alibaba's stock rose 3.33% to $74.93.

Portfolio Pulse from Anusuya Lahiri

December 15, 2023 | 5:44 pm