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RIVN

TSLA

Gary Black, a Tesla investor, predicts Rivian will benefit from the Cybertruck's launch due to long wait times for Tesla's vehicle, driving interest towards Rivian's R1T, a closer competitor in the EV truck segment. Google Trends data shows a surge in searches for the R1T coinciding with Cybertruck deliveries. Tesla's Cybertruck, starting at $60,990, has over a million reservations, but full-scale delivery may not occur until 2025. In contrast, Rivian's R1T starts at $73,000 with delivery times of 4 months or less.

Portfolio Pulse from Anan Ashraf

December 08, 2023 | 6:49 am

BBJP

DXJ

EWJ

Japan's GDP for Q3 contracted by 2.9% year-over-year, which is worse than the estimated 2.1% contraction. This is a significant decrease from the prior revision of 3.6% growth.

Portfolio Pulse from Benzinga Newsdesk

December 08, 2023 | 5:52 am

BTC-USD

ETH-USD

Over $27 million in Ethereum (ETH) short positions were liquidated as its price neared $2400, with Binance, OKX, and Huobi experiencing significant liquidations. Bitcoin (BTC) long positions also faced over $26 million in liquidations. Total market liquidations reached $161.95 million. Santiment reports that large ETH wallets are at record highs, indicating a positive trend for Ethereum's price.

Portfolio Pulse from Mehab Qureshi

December 08, 2023 | 5:10 am

TSLA

Tesla Inc (NASDAQ: TSLA) CEO Elon Musk acknowledged the need to improve after Tesla owners expressed dissatisfaction with the upcoming holiday software update. Owners are requesting features like boombox use while driving, customizable reverse sounds, and fixes for autowipers. The holiday update is expected to include a trip planner on mobile app, Apple podcasts, and automatic 911 calls, but has been criticized for lacking significant improvements compared to past updates.

Portfolio Pulse from Anan Ashraf

December 08, 2023 | 4:09 am

BTC

DOGE

ETH

SHIB

SOL

BONK, a meme coin on the Solana blockchain, surged 36% in a day, outperforming Bitcoin, Ethereum, Dogecoin, and Shiba Inu. BONK reached a new all-time high of $0.000011, with a 946% increase over the last 30 days. The spike in BONK's price and social media interactions coincides with its listing on KuCoin and growing interest in Solana. In contrast, Bitcoin, Dogecoin, and Shiba Inu saw slight declines, while Ethereum increased by 5%.

Portfolio Pulse from Mehab Qureshi

December 08, 2023 | 3:49 am

BTCUSD

Changpeng Zhao, the founder of Binance, is barred from traveling to the UAE and must remain in the US until his sentencing in February 2024. This follows his guilty plea to charges related to breaching the Bank Secrecy Act. Zhao was granted temporary freedom on a $175 million personal recognizance bond. The decision to restrict his travel was influenced by his substantial wealth, his family's residence in the UAE, and the lack of substantial ties to the US, despite the absence of an extradition agreement between the US and UAE. Binance has agreed to a $4.3 billion fine for anti-money laundering and money transmission regulation violations, and Zhao has stepped down from his role at Binance. Bitcoin is currently trading at $43,521, down 1.02%.

Portfolio Pulse from Mehab Qureshi

December 08, 2023 | 3:14 am

ACCD

ADPT

GBTC

HOOD

IRDM

TTD

Ark Invest, led by Cathie Wood, sold approximately $2.9 million worth of Grayscale Bitcoin Trust (GBTC) shares amid crypto market volatility. The sale occurred through the ARK Next Generation Internet ETF (ARKW) as Bitcoin and Ethereum experienced mixed performance. Ark also sold shares of Robinhood Markets Inc (HOOD) through ARK Innovation ETF (ARKF). Additionally, Ark made significant purchases in the healthcare and tech sectors, including Adaptive Biotechnologies (ADPT) and Accolade Inc (ACCD) through ARK Genomic Revolution ETF (ARKG), and investments in Trade Desk Inc (TTD), PagerDuty Inc (PD), and Iridium Communications Inc (IRDM) through multiple ETFs.

Portfolio Pulse from Benzinga Neuro

December 08, 2023 | 3:10 am

AMD

AVGO

GOOG

GOOGL

LULU

TSLA

U.S. stocks closed higher on Thursday, with the Dow, NASDAQ, and S&P 500 all seeing gains. AMD's stock surged 9.89% due to a new AI chip launch and adoption by major companies. Broadcom rose 2.06% after announcing a dividend hike and positive revenue outlook. Lululemon gained 0.87% following strong Q3 results and a stock buyback plan. Alphabet's stocks (GOOG and GOOGL) climbed over 5% with the integration of Gemini AI into its chatbot Bard. Tesla increased by 1.37% amid a leadership change in its Dojo supercomputer project.

Portfolio Pulse from Benzinga Neuro

December 08, 2023 | 2:32 am

SPOT

TTWO

The release of the Grand Theft Auto VI (GTA 6) trailer by Take-Two Interactive Software's Rockstar Games has led to a significant increase in Spotify streams for Tom Petty's song 'Love Is a Long Road.' The trailer, which revealed a 2025 release date for the game and featured impressive NPCs, has amassed over 120 million views. Spotify Technology reported a 36,979% increase in streams for the song, with over 11 million plays by December 6. The song's resurgence is linked to its feature in the highly viewed trailer, and it's not the first time Tom Petty's music has been associated with the GTA series.

Portfolio Pulse from Franca Quarneti

December 07, 2023 | 11:01 pm

SOL

Jito, a Solana-based liquid staking protocol, announced a token airdrop of its JTO token, rewarding early adopters and community members. The airdrop consists of 10% of the total JTO supply, with 80% going to Jito Points Program participants, 10% to liquidity providers, 5% to early staked SOL holders, and 5% reserved for future community initiatives. The JTO token opened at $1.20 and is trading at $1.83. The airdrop aims to increase user engagement, enhance token distribution, strengthen community sentiment, and attract investment.

Portfolio Pulse from Murtuza Merchant

December 07, 2023 | 10:41 pm