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NKLA

Trevor Milton, founder of Nikola Corp (NASDAQ:NKLA), is seeking probation to avoid jail time after being convicted of fraud. His lawyers argue that Nikola is a 'real company with real products,' unlike Theranos. They claim Milton had no malicious intent, just unwavering faith in his company. Nikola's Q3 gross loss increased, and a recall was issued for its battery electric trucks due to fire incidents.

Portfolio Pulse from Anan Ashraf

November 16, 2023 | 6:59 am

BLK

U.S. Presidential candidate Vivek Ramaswamy criticized BlackRock's Bitcoin ETF application, calling the investment firm 'a tentacle of the government.' He expressed support for cryptocurrencies and plans to be a pro-crypto president. Ramaswamy sees Bitcoin as an alternative to the Federal Reserve system and views the government as threatened by its popularity. He also criticized regulatory bodies like the SEC, calling them a 'cancer' and 'unconstitutional.' BTC price was up 5.33% at the time of reporting.

Portfolio Pulse from Mehab Qureshi

November 16, 2023 | 6:27 am

TSLA

Elon Musk, CEO of Tesla Inc, described the Cybertruck as 'alien technology' in response to a video comparing its offroad capabilities with Ford's F-150 Lightning. Both vehicles were shown handling muddy terrain in a video. Ford CEO Jim Farley highlighted the F-150 Lightning's performance with a video captioned 'F-150 Lightning does it all.' Despite Musk's previous praise for Ford's EV strategy, Ford's electric vehicle sales have dropped by 46% from the previous year. The first Cybertruck deliveries are expected on Nov. 30 at Gigafactory Texas, but details on performance and pricing remain undisclosed.

Portfolio Pulse from Anan Ashraf

November 16, 2023 | 6:18 am

MSFT

NVDA

ORCL

Jim Cramer expressed skepticism about Microsoft's ability to compete with Nvidia in the AI chip market, despite Microsoft's announcement of its in-house AI chips at the Ignite 2023 conference. Microsoft has partnered with Oracle to access Nvidia chips, which Cramer sees as an indication of Microsoft's inability to compete with Nvidia's technology. Microsoft launched the Azure Cobalt CPU and AI accelerator chip Maia, and plans to resell Azure Cobalt to other cloud providers. The Microsoft-Oracle partnership allows Microsoft to use Oracle Cloud AI Infrastructure alongside Azure AI infrastructure. Oracle is also a customer of Nvidia's AI chips. Microsoft's stock saw a marginal increase, while Nvidia's stock ended a winning streak with a slight decline.

Portfolio Pulse from Shanthi Rexaline

November 16, 2023 | 6:04 am

ETHDYDX

The dYdX token (CRYPTO: ETHDYDX) has surged over 20% in anticipation of a token unlock for early investors and team members. The dYdX platform, initially a DEX, launched its own blockchain, leading to a price increase. The upcoming unlock will increase the circulating supply significantly, which could impact the market.

Portfolio Pulse from Mehab Qureshi

November 16, 2023 | 4:29 am

ETH-USD

SHIB-USD

The Shiba Inu ecosystem Shibarium has partnered with the Manny Pacquiao Foundation to aid in fundraising and operations. Shibarium, a layer 2 blockchain built on Ethereum, offers faster and cheaper transactions, which could benefit the foundation's charitable activities. Despite initial launch issues, Shibarium is processing thousands of transactions daily. SHIB, the ecosystem's token, has seen a 4.70% increase in the last 24 hours.

Portfolio Pulse from Mehab Qureshi

November 16, 2023 | 4:09 am

AVAXUSD

ETHUSD

SOLUSD

Ether (ETH) has surged over 3% in the last 24 hours, now trading above $2,000. Ethereum's competitors, Solana (SOL) and Avalanche (AVAX), have seen significant gains in 2023, with SOL up 566% and AVAX up 87% year to date. SOL's price recovery follows a period of instability linked to Sam Bankman-Fried's legal issues, while AVAX's rise is attributed to interest from JPMorgan and Apollo in using blockchain for tokenizing funds.

Portfolio Pulse from Mehab Qureshi

November 16, 2023 | 3:31 am

BTCUSD

DOGEUSD

ETHUSD

The cryptocurrency market saw a strong rebound with Bitcoin nearing an 18-month high, surpassing $37,000, after a brief drop below $35,000. Ethereum and Dogecoin also posted gains. Over $110 million in short liquidations occurred as a result, with $51 million in BTC shorts and $16 million in ETH shorts liquidated. The S&P 500, Nasdaq, and Dow Jones also rose, while the 10-year U.S. Treasury yield increased. Analysts suggest BTC and ETH could become part of 401k retirement plans, indicating a bullish long-term outlook despite short-term volatility.

Portfolio Pulse from Mehab Qureshi

November 16, 2023 | 2:50 am

BABA

CSCO

PANW

TGT

WMT

On a positive trading day, Alibaba (BABA) rose 3.82% after peer JD.Com's Q3 results and regulatory inquiries into its logistics arm. Palo Alto Networks (PANW) fell 1.91% post Q1 earnings despite beating estimates. Cisco (CSCO) saw a marginal 0.21% increase after Q1 results with weak guidance. Walmart (WMT) grew 1.28% before its earnings report, and Target (TGT) jumped 17.81% ahead of its Q3 financial release.

Portfolio Pulse from Benzinga Neuro

November 16, 2023 | 2:19 am

MSFT

Wedbush analyst Dan Ives has increased the price target for Microsoft Corporation (NASDAQ:MSFT) from $400 to $425, citing the potential for 'game-changing' AI monetization from its Co-Pilot AI product. Microsoft also announced the development of two custom chips, Maia and Cobalt, to enhance its Azure cloud service and reduce internal costs, respectively. These developments position Microsoft as a 'Top Pick' for 2024 and reflect the company's strategic moves in AI amidst a global chip shortage.

Portfolio Pulse from Ananya Gairola

November 16, 2023 | 1:28 am