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TSLA

Cathie Wood's Ark Investment Management increased its Tesla holdings by purchasing $13M worth of shares amid a price decline, and expanded its crypto exposure by investing in Bitcoin and Ethereum ETFs. Ark bought Tesla shares across three ETFs and added to its crypto ETF holdings, despite Tesla's stock pressure due to anticipated disappointing earnings and other concerns. Ark also reduced exposure to crypto-related stocks like Coinbase and Robinhood, focusing instead on crypto ETFs, with significant investments in ARKB and ARKZ, reflecting confidence in Bitcoin and Ethereum's growth.

Portfolio Pulse from Shanthi Rexaline

April 19, 2024 | 6:20 am

BTCUSD

Changpeng Zhao, the former CEO of Binance, clarified that Bitcoin halving is not similar to a stock split, highlighting the unique dynamics of cryptocurrency. He shared insights on the post-event dynamics of Bitcoin halving, noting that while the price doesn't skyrocket immediately after the event, it often reaches all-time highs in the following year. The upcoming Bitcoin halving, scheduled for around April 20, 2024, will reduce miner rewards from 6.25 BTC to 3.125 BTC, impacting the economics of mining and potentially the future price and ecosystem of Bitcoin.

Portfolio Pulse from Benzinga Neuro

April 19, 2024 | 6:19 am

TSLA

XIACF

Xiaomi Corp's first electric vehicle, the SU7, has surpassed sales expectations by 3-5 times, with over 50,000 orders received in less than 30 minutes. The vehicle, priced lower than Tesla's Model 3 in China, has already begun deliveries. CEO Lei Jun announced there are no plans for off-road vehicles, focusing on the SU7. This launch has prompted price cuts from competitors like Zeekr to protect market share. Jun believes Xiaomi's entry into the smart car market marks the beginning of a significant revolution, positioning China to produce a company comparable to Tesla.

Portfolio Pulse from Anan Ashraf

April 19, 2024 | 5:46 am

AAPL

NVDA

TSM

TSMC, the world's largest chipmaker, has revised its growth forecast for the chip market to 10%, down from 'more than 10%', due to a potential decline in automotive chip demand. Despite this, TSMC projects a 30% increase in Q2 sales, driven by strong demand for AI-related chips. TSMC's significant role in manufacturing for NVIDIA and Apple positions it at the forefront of AI development. However, TSMC's stock dropped 6% following the adjusted outlook. This comes amid global challenges, including a major earthquake in Taiwan and geopolitical tensions, but also growing demand for AI chips.

Portfolio Pulse from Benzinga Neuro

April 19, 2024 | 5:00 am

FXI

META

The Cyberspace Administration of China has mandated the removal of Meta's WhatsApp and Threads apps from the China storefront, citing national security concerns, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

April 19, 2024 | 2:32 am

BTCUSD

ETHUSD

Crypto analyst Michaël van de Poppe predicts a significant chance of a Bitcoin price rebound as the hype around the halving event fades. Despite recent volatility, Bitcoin and Ethereum have shown resilience, bouncing back above key price levels. The upcoming Bitcoin halving, a major event reducing miner rewards by 50%, historically triggers significant price movements. Industry experts like Anthony Scaramucci and a Fidelity director remain bullish, suggesting Bitcoin could reach $200,000 post-halving. Currently, Bitcoin trades at $63,103, down 0.65% over the last 24 hours but up 42.86% YTD.

Portfolio Pulse from Benzinga Neuro

April 19, 2024 | 1:07 am

AAPL

SONY

WBD

Martin Scorsese and Steven Spielberg are collaborating as executive producers on a 'Cape Fear' series for AppleTV+, a unit of Apple Inc (NASDAQ:AAPL). The series is based on the 1962 and 1991 films. Scorsese is also planning films about Jesus and Frank Sinatra, with the latter drawing interest from Apple and Sony Group Corp (NYSE:SONY), but Sony is reportedly leading. Spielberg is working on a UFO film and a series on Napoleon Bonaparte for HBO, owned by Warner Bros. Discovery (NASDAQ:WBD). Apple's collaboration with big names like Scorsese and Spielberg, despite a smaller content library, positions its streaming platform as a strong contender in the market.

Portfolio Pulse from Chris Katje

April 18, 2024 | 10:10 pm

DOGZ

Dogness faces challenges from intense domestic competition and the US-China trade dispute, impacting sales. The company's revenue dropped in the half year ended December 31, 2023, due to lower average selling prices and sales volumes of intelligent pet products. Dogness is expanding its customer base, targeting younger consumers, and developing new products to counter weak sales. It's also implementing cost-saving measures and seeking merger and acquisition opportunities to improve margins and expand market presence.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 8:49 pm

DOGZ

Dogness reported a significant decrease in revenue for the half year ended December 31, 2023, with total revenue dropping to $6.7M from $10.4M YoY. The decline was across both domestic and international markets, with intelligent pet products seeing the largest decrease. Despite reduced costs, gross profit and net loss worsened, reflecting challenges in pricing and competition.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 8:48 pm

ISRG

Intuitive Surgical Inc (NASDAQ:ISRG) reported Q1 earnings with revenue of $1.89 billion and adjusted EPS of $1.50, both surpassing analyst estimates. The company saw a 14% increase in its da Vinci surgical system installed base, with 313 systems placed this quarter. Worldwide da Vinci procedures grew by approximately 16% year-over-year. The company ended the quarter with $7.32 billion in cash, equivalents, and investments.

Portfolio Pulse from Adam Eckert

April 18, 2024 | 8:44 pm