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Mike Novogratz, CEO of Galaxy Digital, has revised his opinion on Ripple, acknowledging its growth and the dedication of the 'XRP army.' He remains skeptical about Bitcoin's use as a common currency for everyday transactions, citing its lack of widespread adoption for purchases. Novogratz also commented on U.S. fiscal policies and their potential long-term consequences. He expressed doubts about the success of an Ethereum ETF, suggesting that its performance may depend on the inclusion of staking rewards.

Portfolio Pulse from Murtuza Merchant

December 13, 2023 | 2:27 pm

CGC

Canopy Growth Corp (NASDAQ:CGC) shares fell after announcing a 1 for 10 share consolidation to regain compliance with Nasdaq listing requirements. The consolidation, approved by shareholders, will be effective on Dec. 15, with post-consolidation shares trading from Dec. 20. CFO Judy Hong believes this will improve marketability and compliance with Nasdaq's bid requirement.

Portfolio Pulse from Adam Eckert

December 13, 2023 | 2:24 pm

SLM

Stephens & Co. analyst Vincent Caintic has maintained an Equal-Weight rating on SLM Corporation (NASDAQ:SLM) and increased the price target from $16 to $18.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 2:23 pm

CASY

Stephens & Co. analyst Ben Bienvenu has maintained an Overweight rating on Casey's General Stores (NASDAQ:CASY) and increased the price target from $305 to $340.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 2:22 pm

REVG

REV Group, Inc. (NYSE:REVG) reported Q4 FY23 sales of $693.3 million, surpassing estimates of $666.13 million, driven by growth in Fire & Emergency and Commercial segments. Adjusted EPS was $0.53, beating the $0.34 consensus. Gross profit rose 42.9% to $95.5 million, with margins expanding to 13.8%. Adjusted EBITDA increased to $54 million from $33.5 million in 4Q22. Backlog grew to $4.46 billion. Operating cash flow for the fiscal year was $126.5 million, and the company declared a $0.05 per share dividend. FY24 outlook anticipates net sales of $2.6-$2.7 billion, adjusted net income of $82-$99 million, and free cash flow of $70-$85 million. REVG shares are up 5.33% in premarket trading.

Portfolio Pulse from Akanksha Bakshi

December 13, 2023 | 2:21 pm

HDB

HDFC Bank Inc. (NYSE:HDB) shares fell by 1.04% to $63.98 in the current market session. Despite a 9.33% increase over the past month, the stock has declined by 6.31% over the past year. The company's P/E ratio of 20.25 is higher than the Banks industry average of 13.26, suggesting that HDFC Bank may be overvalued or that investors expect better future performance. Investors are advised to consider the P/E ratio alongside other financial metrics and qualitative analysis for investment decisions.

Portfolio Pulse from Benzinga Insights

December 13, 2023 | 2:15 pm

Goldman Sachs analyst Kate McShane has maintained a Sell rating on Grocery Outlet Holding (NASDAQ:GO) and reduced the price target from $33 to $24.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 2:15 pm

AAPL

AMD

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CAVA

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QQQ

TSLA

Swaggy Stocks has listed the top 10 trending stocks on WallStreetBets as of December 13, 2023. The list includes Tesla (TSLA), Invesco QQQ Trust (QQQ), Cracker Barrel Old Country Store (CAVA), Pfizer (PFE), Apple (AAPL), Broadcom (AVGO), SPDR Gold Trust (GLD), C3.ai (AI), Bitcoin (BTCUSD), and Advanced Micro Devices (AMD).

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 2:13 pm

ICU

SeaStar Medical has been notified by the staff that it has not regained compliance with the market value rule or the alternative criteria, according to an SEC filing on December 12, 2023.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 2:04 pm

SLM

Wedbush analyst David Chiaverini has maintained an Outperform rating on SLM Corporation (NASDAQ:SLM) and increased the price target from $18 to $21.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 2:04 pm