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BLK

GBTC

JPM

Asset managers are preparing for Bitcoin acquisitions in anticipation of Bitcoin ETFs, with Moody's Analytics director Yiannis Giokas attributing the recent Bitcoin price surge to the expected SEC approval of these ETFs. Bloomberg predicts a 90% chance of approval by Jan. 10. Discussions involve major players like Blackrock, Ark Invest, and Grayscale Investments. While some industry insiders expect a capital influx post-ETF launch, JPMorgan warns of potential price pressure. Bitcoin's price has recently surpassed $41,000, with analysts suggesting a 'Buy the rumor, sell the news' scenario.

Portfolio Pulse from Benzinga Neuro

December 06, 2023 | 7:12 am

UMC

United Microelectronics (UMC) reported a 16.67% year-over-year decline in sales for November 2023, with revenues dropping from NT$22,545,442 thousand to NT$18,787,670 thousand. From January to November 2023, the company experienced a 20.25% decrease in sales compared to the same period in 2022.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 6:45 am

ASAN

CPB

GME

THO

U.S. stock futures are trading higher, with focus on Campbell Soup (CPB), Asana (ASAN), THOR Industries (THO), SentinelOne (S), and GameStop (GME) based on earnings reports and forecasts. CPB is expected to report earnings with a slight gain in after-hours trading. ASAN posted strong results but saw a decline in after-hours trading. THO is anticipated to report earnings with a gain in after-hours trading. S reported better-than-expected results and raised its revenue outlook, leading to a surge in after-hours trading. GME is expected to post a quarterly loss with a slight gain in after-hours trading.

Portfolio Pulse from Lisa Levin

December 06, 2023 | 6:36 am

THO

THOR Industries, Inc. (NYSE:THO) is expected to report Q1 fiscal 2024 earnings of $1.05 per share, down from $2.53 per share a year ago, with revenue estimated at $2.53 billion. The stock closed down 2.5% at $103.00. Analysts have recently updated their price targets: Citigroup raised it from $94 to $108, Truist Securities from $84 to $86, BMO Capital reiterated at $115, Roth MKM at $72, and Baird from $95 to $110.

Portfolio Pulse from Lisa Levin

December 06, 2023 | 6:13 am

SOLUSD

A crypto analyst, Inmortal, predicts that Solana (SOL) could reach an all-time high of $360 by 2025, a 462% increase from its current price. SOL is currently trading at $64.81, up over 4% in the last 24 hours. Another analyst, Ali, warns of a potential price correction for Solana, with a sell signal on the weekly chart and an overbought RSI. Ali suggests that SOL needs to close above $68.4 to avoid a bearish trend and could target $108. Cathie Wood of ARK Invest praised Solana for being faster and more cost-effective than Ethereum.

Portfolio Pulse from Mehab Qureshi

December 06, 2023 | 5:41 am

TSLA

Ross Gerber, a Tesla investor, believes the upcoming Cybertruck will be the 'most impactful vehicle' and urges Elon Musk to concentrate on Tesla full-time. Gerber praised Tesla's pricing strategy and its role in transforming the automotive industry. He anticipates the need for increased Cybertruck production once launched. Gerber also criticized Musk's recent behavior, including the endorsement of an antisemitic claim, as harmful to Tesla's brand.

Portfolio Pulse from pooja@benzinga.com

December 06, 2023 | 5:31 am

TSLA

Tesla Inc (NASDAQ:TSLA) experienced a significant decline in vehicle registrations in the UK for November, with only 1,648 vehicles registered compared to 6,025 in the same month last year, a drop of nearly 73%. This decrease has also affected Tesla's market share, which is now at 1.05%. Despite the Model Y's absence from the top ten best-seller list for November, it remains the sixth best-selling car year-to-date in the UK. Overall BEV registrations fell by 17.1% year-on-year, but year-to-date BEV registrations are up 27.%. The SMMT suggests that recovery depends on fiscal incentives and investment in charging infrastructure.

Portfolio Pulse from Anan Ashraf

December 06, 2023 | 5:28 am

BTCUSD

DOGEUSD

FLOKIUSD

SHIBUSD

Floki (FLOKI) experienced a 16% increase in value, outperforming other meme cryptocurrencies like Dogecoin (DOGE) and Shiba Inu (SHIB). The surge followed an AMA with Floki's Head of Operations, B, who discussed the strategic importance of the Valhalla game and the TokenFi platform. B highlighted the need for perfect market conditions for Valhalla's mainnet launch and suggested that it is more critical than a Binance listing. The article also mentions Bitcoin's (BTC) recent peak and the potential influences on FLOKI's performance, including Bitcoin ETF approval, the Bitcoin Halving, and possible FED rate cuts. TokenFi (TOKEN), a Floki-related project, also saw a 19% increase in its value.

Portfolio Pulse from Mehab Qureshi

December 06, 2023 | 4:42 am

COIN

Coinbase Inc (NASDAQ:COIN) has introduced a new service that allows users to send cryptocurrencies like Bitcoin and Ethereum through various communication platforms such as WhatsApp, Telegram, TikTok, and social media apps with a simple link. This service simplifies the process of transferring cryptocurrencies, which previously involved logging into an exchange and waiting for confirmations. The funds can be claimed through the Coinbase Wallet app, and if unclaimed after two weeks, they are returned to the sender. Coinbase's stock has surged almost 290% this year, despite a slight drop of 0.63% on Tuesday.

Portfolio Pulse from Mehab Qureshi

December 06, 2023 | 3:54 am

COIN

GBTC

SOFI

TDOC

TOST

TTD

VEEV

Ark Invest, led by Cathie Wood, sold over $33 million in Coinbase Global Inc (COIN) shares and nearly $5.6 million in Grayscale Bitcoin Trust (GBTC) shares as Bitcoin crossed the $44,000 mark. The sales were made through various Ark ETFs including ARKK, ARKW, and ARKF. Additionally, Ark Invest increased its holdings in SoFi Technologies (SOFI), Toast Inc (TOST), Veeva Systems (VEEV), Teladoc (TDOC), and The Trade Desk (TTD).

Portfolio Pulse from Benzinga Neuro

December 06, 2023 | 3:22 am