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NKLA

Nikola Corporation (NASDAQ:NKLA) shares are trading higher along with other EV stocks, following a report from CleanTechnica indicating a 29% year-over-year increase in full battery-electric vehicle sales in Q4 2023. Baird analyst Ben Kallo initiated coverage on Nikola with an Outperform rating and a price target of $2, citing potential catalysts in manufacturing, partnerships, and hydrogen infrastructure. Nikola has a high short interest of 28.42%, which may lead to significant price volatility. Despite recent optimism, Nikola's stock has fallen 30.48% in the past three months, and its revenue has decreased by 107.14% over the past year.

Portfolio Pulse from Erica Kollmann

January 29, 2024 | 8:36 pm

DOGE

GME

SHIB

SOL

A new GameStop memecoin ($GME) on the Solana blockchain achieved a market cap of over $14 million within 24 hours of its launch. The memecoin, which pays tribute to the GameStop saga, saw a significant drop in value after its Twitter profile was banned but has since recovered to a $6.5 million market cap and was listed on Poloniex. The trend of Solana memecoins achieving high valuations quickly is noted, with examples like Dogwifhat, Myro, and Anita Max Wynn. The future of the GameStop token and its potential to rival established memecoins like Dogecoin (DOGE) and Shiba Inu (SHIB) is uncertain.

Portfolio Pulse from Ivan Crnogatić

January 29, 2024 | 8:27 pm

MULN

Mullen Automotive's stock is trading higher following the announcement that its all-electric Class 3 low cab forward chassis truck has received certification from the California Air Resources Board, indicating a positive development for the company in the electric vehicle (EV) market.

Portfolio Pulse from Benzinga Newsdesk

January 29, 2024 | 8:06 pm

REGN

Regeneron Pharmaceuticals (NASDAQ:REGN) has been evaluated by 14 analysts over the last three months, with diverse opinions ranging from bullish to bearish. The average 12-month price target for REGN is $963.57, with a high of $1076.00 and a low of $800.00, marking a 6.73% increase from the previous target of $902.83. Analysts have made various rating actions, including maintaining, raising, and lowering their stances and price targets. Regeneron is involved in developing treatments for diseases and has several marketed products. The company's financial performance shows a revenue growth of 14.53%, a high net margin of 29.97%, an ROE of 4.12%, an ROA of 3.21%, and a low debt-to-equity ratio of 0.11.

Portfolio Pulse from Benzinga Insights

January 29, 2024 | 8:00 pm

AMZN

LCID

TSLA

Amazon.com Inc (NASDAQ:AMZN) now owns the distribution rights to the James Bond franchise after acquiring MGM. Lucid Group (NASDAQ:LCID) CEO Peter Rawlinson hinted at a partnership with Aston Martin to supply electric powertrain technology for an electric vehicle that may be featured in the next Bond movie. This could boost Amazon's media efforts and Lucid's brand visibility. Tesla Inc (NASDAQ:TSLA) CEO Elon Musk, who owns a vehicle from a Bond film, has also been mentioned in relation to the Cybertruck's design inspiration.

Portfolio Pulse from Chris Katje

January 29, 2024 | 7:56 pm

FSR

GOEV

LCID

RIVN

TSLA

VLCN

Shares of electric vehicle (EV) stocks are experiencing an uptick following a report by CleanTechnica that indicated a 29% increase in Q4 sales of pure electric vehicles.

Portfolio Pulse from Benzinga Newsdesk

January 29, 2024 | 7:54 pm

HARP

MRK

Merck & Co Inc (MRK) is experiencing a stock rally ahead of its Q4 earnings report, driven by optimism around its cancer drug Keytruda, which has received four FDA approvals since November 2023. The latest approval on Jan. 12 allows Keytruda to be used with chemoradiotherapy for certain cervical cancers. Merck's stock has also been positively influenced by the acquisition of Harpoon Therapeutics Inc (HARP) for $680 million, aimed at enhancing its cancer treatment pipeline. A technical indicator, the Golden Cross, has occurred for Merck stock, suggesting continued upward momentum.

Portfolio Pulse from Surbhi Jain

January 29, 2024 | 7:05 pm

GBTC

GOOGL

META

Alphabet Inc (NASDAQ:GOOGL) has updated its advertising policy to allow certain cryptocurrency products, including Cryptocurrency Coin Trusts, to advertise on its network starting Jan. 29. This change could increase mainstream adoption of cryptocurrencies by enhancing visibility and credibility. The Grayscale Bitcoin Trust (OTC:GBTC), now a spot Bitcoin ETF, stands to benefit from this policy change. Previously, Google and Meta (NASDAQ:META) had banned crypto advertising in 2018 due to concerns over scams and volatility.

Portfolio Pulse from Murtuza Merchant

January 29, 2024 | 6:58 pm

GLD

IRBT

LCID

SOFI

TLT

TSLA

US stocks saw modest gains on Monday, with the S&P 500 and Nasdaq 100 up slightly, while the Dow Jones was steady. Tesla rebounded 2.4%, SoFi surged over 17% on strong Q4 results, and Lucid jumped 20% on James Bond film rumors. Treasury yields dipped, boosting TLT. Gold prices rose, benefiting GLD, while crude oil prices fell. Major earnings reports and the Federal Reserve meeting are anticipated this week.

Portfolio Pulse from Piero Cingari

January 29, 2024 | 6:57 pm

CAT

Benzinga's options scanner revealed significant options activity on Caterpillar (NYSE:CAT), with a mix of bullish and bearish sentiments among big-money investors. There were 14 notable options trades, with a skew towards calls over puts, suggesting a target price range between $270 and $390. Caterpillar is a leading manufacturer in heavy equipment and is currently trading at $298.77, slightly down by 0.22%. The RSI indicates it may be approaching overbought territory. An analyst from Morgan Stanley has downgraded the stock to Equal-Weight with a target price of $270. Caterpillar's earnings release is expected in 7 days.

Portfolio Pulse from Benzinga Insights

January 29, 2024 | 6:45 pm