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The cryptocurrency market saw significant activity with Shiba Inu's burn rate increasing by 500%, the creation of Kissinger-themed tokens post-Henry Kissinger's death, anticipation of Spot Bitcoin ETF approval, and predictions of price movements for Bitcoin and other cryptocurrencies. Shiba Inu burned 83 million tokens, Kissinger tokens generated over $307,000 in trading volume, and Bitcoin is forecasted to reach $524,000 in the next four years.

Portfolio Pulse from Benzinga Neuro

December 02, 2023 | 2:35 pm

FSR

KARS

NIO

RIVN

TSLA

In the past week, Tesla's Cybertruck launch was seen as a pricier 'side story' and Fisker scaled back production plans for the fourth time. Ford dealers are quitting the EV program due to stringent criteria, while Nio is offering incentives to boost sales. Rivian launched a leasing option for its R1T pickup truck. The KraneShares Electric Vehicles and Future Mobility Index ETF had a slight increase on Friday but an overall weekly loss.

Portfolio Pulse from Shanthi Rexaline

December 02, 2023 | 2:34 pm

SPY

November 2023 saw a significant 'Turkey Rally' with the S&P 500 Index, tracked by SPDR S&P 500 ETF Trust (SPY), rising 8.9%. This rally, the 18th-best monthly performance since 1950, was driven by expectations of Federal Reserve interest rate cuts in 2024 due to declining inflation. Historically, December has been positive for the S&P 500, but a strong November may lead to a more subdued 'Santa Claus Rally'. LPL Research's George Smith suggests that despite a potentially quieter December, the strong November performance could indicate a bullish 2024, with historical data showing substantial gains following similar monthly rises and the end of losing streaks.

Portfolio Pulse from Piero Cingari

December 02, 2023 | 2:13 pm

BRPHF

BTCUSD

Galaxy Digital Holdings CEO Mike Novogratz is bullish on Bitcoin, citing potential catalysts like the approval of a spot Bitcoin ETF, the Federal Reserve's rate actions, and the upcoming Bitcoin halving event. He suggests these factors could drive Bitcoin prices to revisit old highs by next year. Bitcoin has seen a significant price increase recently, outperforming the S&P 500 and NASDAQ indices.

Portfolio Pulse from Rounak Jain

December 02, 2023 | 11:00 am

TSLA

Reddit co-founder Alexis Ohanian was among the first to receive a Tesla Cybertruck at the delivery event on Nov. 30. Ohanian shared his excitement on social media, posting pictures and a live video of his first drive. Elon Musk responded positively to Ohanian's posts. Tesla delivered a few Cybertrucks at its Texas gigafactory, with the base model starting at $60,990 and the top-tier Cyberbeast at $99,990. Musk praised the Cybertruck as Tesla's best product.

Portfolio Pulse from Anan Ashraf

December 02, 2023 | 10:00 am

AAPL

DIS

META

PSHZF

Bill Ackman, through his hedge fund The Pershing Square Foundation, has disclosed a $10 million investment in Elon Musk's social media company, X. Ackman defended Musk's stance on free speech and criticized big advertisers like Apple, Disney, and Meta Platforms for boycotting X while supporting platforms with similar content issues. Ackman is not focused on profit from this investment and supports Musk's ownership of X, which is now seeking smaller advertisers to offset a significant loss in ad revenue.

Portfolio Pulse from Rounak Jain

December 02, 2023 | 10:00 am

BYDDF

BYDDY

TSLA

BYD Co Ltd reported a 31% YoY increase in sales volume for November, with 301,903 new energy vehicles sold, including 170,150 BEVs, marking a 49% jump in the BEV segment. The company, backed by Warren Buffett's Berkshire Hathaway, has ceased production of oil-fueled vehicles since April last year, focusing solely on new energy vehicles. BYD's growth brings it close to Tesla Inc's sales figures, with BYD selling approximately 432,000 BEVs in Q3, just below Tesla's 435,000 units.

Portfolio Pulse from Anan Ashraf

December 02, 2023 | 9:01 am

TSLA

Swedish labor expert German Bender warns of significant implications if Tesla Inc (NASDAQ:TSLA) is not challenged by unions in Sweden over collective bargaining agreements. Despite the strike by less than 150 employees, Tesla claims over 90% of its workforce remains, and its terms are competitive. The conflict could set a precedent for other companies in Sweden, where collective agreements are the norm. Tesla's Model Y is a top seller in Sweden, and the strike has threatened vehicle deliveries, prompting CEO Elon Musk to criticize the action.

Portfolio Pulse from Anan Ashraf

December 02, 2023 | 8:39 am

TSLA

Ford Motor Co's CEO Jim Farley announced record sales for the F-150 Lightning in November, with nearly 4,400 units sold, doubling from last year. This comes as Tesla begins delivering its Cybertruck, which is more expensive than Ford's electric truck. Despite the competition, the Lightning's sales indicate strong demand and resilience against the new entrant in the EV truck market.

Portfolio Pulse from Anan Ashraf

December 02, 2023 | 5:05 am

AAPL

DIS

IBM