Streetbeat News

Regulatory

TSLA

Elon Musk, CEO of Tesla Inc (NASDAQ:TSLA), remains upset with the Biden administration for excluding Tesla from a 2021 EV summit, despite Tesla's significant EV deliveries compared to GM. Musk's tweet on X (formerly Twitter) reiterates his frustration, and the article also touches on Musk's ventures in AI and the optimistic outlook for Tesla's market cap by analyst Daniel Ives.

Portfolio Pulse from Ramakrishnan M

December 25, 2023 | 3:00 pm

BTCUSD

Crypto analyst TechDev predicts Bitcoin (BTC) may hit a new all-time high soon, based on the on-balance volume (OBV) indicator, which has historically signaled new peaks. The OBV is at new highs, and historically, a new all-time high followed within two months, with a top six to ten months later. The Vortex Indicator (VI) also shows bullish signals for Bitcoin. The anticipated Bitcoin ETF launch in early January 2024 and a 164% surge in Bitcoin's market cap in 2023, partly due to optimism over a potential US-approved Bitcoin ETF, are contributing to positive sentiment. BTC is currently trading at $43,616.73.

Portfolio Pulse from Rounak Jain

December 24, 2023 | 10:03 pm

BLK

BTCUSD

Cryptocurrency expert DonAlt warns that the potential approval of a spot-based Bitcoin ETF could lead to a 'sell-the-news' event, causing a significant drop in Bitcoin's value. Despite a 164% surge in market capitalization in 2023, DonAlt predicts a temporary rally followed by a correction of up to 30%. However, he suggests that firms like BlackRock Inc. might support Bitcoin's price post-ETF approval. The ETF decision is expected by Jan. 10 and could cause a 'demand shock' in the market.

Portfolio Pulse from Rounak Jain

December 24, 2023 | 4:55 pm

GOOG

GOOGL

MSFT

This week in AI, Alphabet Inc. restricted election-related queries on its AI chatbot Bard, Bill Gates discussed AI's impact on healthcare, and OpenAI, along with Microsoft, faced a copyright infringement lawsuit. Google's decision aims to manage AI's interaction with voters for the 2024 elections. Bill Gates emphasized AI's potential in healthcare and its influence on future generations. OpenAI and Microsoft are accused of using authors' works without permission to train AI programs. Additionally, Jordan Peterson criticized the 'wokeness' of AI chatbots, and Elon Musk reflected on OpenAI's early days.

Portfolio Pulse from Benzinga Neuro

December 24, 2023 | 2:00 pm

AAPL

GOOG

GOOGL

TCEHY

Alphabet Inc. considered changing Google Play's fee model to avoid regulatory scrutiny but decided against it, fearing multi-billion dollar losses. Documents from the Epic Games antitrust lawsuit revealed Project Everest, which assessed alternative billing models. Google feared significant revenue loss with the proposed changes, opting instead for a model allowing developers to handle payments for a reduced fee. The Epic lawsuit also highlighted Google's app store duopoly with Apple Inc., which is under threat due to legal challenges and regulatory scrutiny.

Portfolio Pulse from Rounak Jain

December 24, 2023 | 12:53 pm

AAPL

BBY

MASI

TGT

WMT

Apple Inc. (AAPL) faces a potential U.S. ban on its $17 billion smartwatch business due to patent infringement allegations by Masimo Corp. (MASI). Apple is modifying algorithms to avoid the ban. Apple Card Savings Account interest rate has increased to 4.25% APY. Apple instructed customer service not to guide customers to watch retailers, affecting sales at Walmart (WMT), Best Buy (BBY), and Target (TGT). Apple unveiled AI tech 'HUGS' for digital avatars and is under DOJ scrutiny for blocking the Beeper app.

Portfolio Pulse from Benzinga Neuro

December 24, 2023 | 12:43 pm

Aylo Holdings, the parent company of Pornhub.com, has been arraigned on charges of profiting from sex trafficking proceeds and agreed to pay a $1.84 million fine. The charges stem from Aylo's hosting of videos from GirlsDoPorn, which were allegedly created through sex trafficking. Despite receiving complaints and content removal requests, Aylo continued to profit from the partnership until 2019. The FBI conducted the investigation. In 2020, Visa (V) and Mastercard (MA) severed ties with Pornhub over related accusations.

Portfolio Pulse from Nabaparna Bhattacharya

December 23, 2023 | 8:40 pm

BTCUSD

ETHUSD

The anticipated launch of the spot Bitcoin ETF is expected to occur between January 5-10, 2024. The SEC's 'cash only' requirement has been met by ETF providers, clearing the way for the launch. QCP Capital warns of potential short-term volatility, suggesting a 'sell the news' scenario with Bitcoin possibly retracing to $36,000 before resuming its uptrend. Long-term, QCP remains bullish on Bitcoin. They advise experienced investors to consider strategic plays like selling covered calls and buying puts. Ethereum may temporarily lag behind Bitcoin but could benefit from future spot ETF developments.

Portfolio Pulse from Murtuza Merchant

December 23, 2023 | 3:02 pm

AAPL

ROKU

TSLA

USO

Stock indices marked their eighth consecutive week of gains, with the S&P 500, Dow, and Nasdaq all rising. Inflation measured by the PCE index fell to 2.5% in November, the lowest since March 2021, prompting economists to reconsider the Fed's rate plans for 2024. Bullish views included predictions for Apple and Tesla, a potential Bitcoin ETF approval, and a Dogecoin rally. Bearish perspectives involved a drop in oil prices following Angola's OPEC exit, a predicted 75% fall in Ethereum, and a downgrade of Roku by Seaport Research Partners.

Portfolio Pulse from Michael Cohen

December 23, 2023 | 2:50 pm

DOGEUSD

Billy Markus, co-founder of Dogecoin, criticized SEC Chair Gary Gensler for not providing clear rules for the crypto industry, reacting to Gensler's comments on widespread non-compliance and fraud in the sector. Gensler described the crypto market as the 'Wild West' and emphasized the harm to US investors due to non-compliance with securities laws.

Portfolio Pulse from Rounak Jain

December 23, 2023 | 10:00 am