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BETS

Shares of Bit Brother Limited (NASDAQ:BETS) surged over 110% on Tuesday and continued to climb on Wednesday. The company recently announced a $5 million investment in cryptocurrency mining equipment, expected to be operational by early 2024 with a goal of mining 12 Bitcoin monthly. The rally in Bitcoin prices and anticipation of a spot Bitcoin ETF approval may be contributing to Bit Brother's stock performance. Trading volume for BETS has significantly exceeded its 100-day average.

Portfolio Pulse from Erica Kollmann

December 27, 2023 | 8:17 pm

FDX

MU

NKE

The article discusses several economic indicators and their implications for the market. It highlights the downward revision of 3Q GDP from 5.2% to 4.9%, FedEx's lowered guidance for fiscal year 2024, a significant decline in new orders reported by the Philly Fed, and a slight deflation in November's PCE data. Despite these indicators, the article suggests there is no immediate cause for panic. It also humorously proposes trading US Treasury Secretary Janet Yellen for a Manila store manager to combat inflation. The market reacted positively to the GDP revision, partly due to Micron Technology's positive results and expectations of a Federal Reserve rate cut.

Portfolio Pulse from Gary Brode

December 27, 2023 | 8:15 pm

DKNG

The Detroit Pistons set an NBA record with 27 consecutive losses, the worst start in the league at 2-28. Despite Cade Cunningham's strong performance, the team's losing streak has become a major story. Betting against the Pistons could have turned a $100 bet into $789,995.95. DraftKings Inc (NASDAQ:DKNG) has set the Pistons' season win total over/under at 9.5 and offers bets on their next win, with a bettor placing a $40 wager on the Pistons not winning another game at +100,000 odds.

Portfolio Pulse from Chris Katje

December 27, 2023 | 8:10 pm

GM

General Motors (NYSE:GM) has seen a decrease in short interest, with the short percent of float dropping 18.57% since the last report. The company has 26.31 million shares sold short, representing 1.93% of available shares. The current short interest suggests it would take about 1.0 trading day to cover all short positions. A decrease in short interest can indicate a more bullish sentiment towards the stock, although it does not guarantee a price increase. GM's short interest is below its peer group average of 13.13%.

Portfolio Pulse from Benzinga Insights

December 27, 2023 | 8:00 pm

AVGO

Broadcom Inc. (NYSE:AVGO) has seen a significant decrease in short interest, with a 27.17% drop since the last report. The current short interest stands at 4.73 million shares, or 1.26% of the float, with a short-covering time of 1.25 days. This decline in short interest may indicate a more bullish sentiment among investors compared to the peer group average of 3.70% short interest as a percentage of float.

Portfolio Pulse from Benzinga Insights

December 27, 2023 | 8:00 pm

MU

Micron Technology (NYSE:MU) has seen a decrease in short interest, with the short percent of float dropping 5.88% since the last report. The company has 19.38 million shares sold short, representing 1.76% of available shares, with a cover time of 1.57 days. This decline in short interest may indicate a more bullish sentiment among investors, although it does not necessarily predict a near-term price rise. Micron's short interest is below its peer group average of 3.68%.

Portfolio Pulse from Benzinga Insights

December 27, 2023 | 8:00 pm

BN

Brookfield's (NYSE:BN) short interest has decreased by 4.4%, with 25.74 million shares sold short, representing 1.74% of its float. It would take about 12.36 days to cover all short positions. A decrease in short interest can indicate a more bullish sentiment towards the stock. Brookfield has less short interest compared to its peer group average of 3.31%. Short interest is a key indicator of market sentiment and can influence stock price movements.

Portfolio Pulse from Benzinga Insights

December 27, 2023 | 7:45 pm

HSBC

HSBC Holdings (NYSE:HSBC) has seen a 5.26% increase in short interest since the last report, with 7.97 million shares sold short, representing 0.2% of available shares. It would take about 4.28 days to cover all short positions. While an increase in short interest can indicate bearish sentiment, it does not necessarily predict a price drop. HSBC's short interest is below its peer group average of 0.83%.

Portfolio Pulse from Benzinga Insights

December 27, 2023 | 7:45 pm

QCOM

Qualcomm's (NYSE:QCOM) short interest has decreased by 17.9% since the last report, with 14.82 million shares sold short, representing 1.33% of available shares. The average time to cover these short positions is 1.66 days. A decrease in short interest can indicate a more bullish sentiment towards the stock. Qualcomm's short interest is below its peer group average of 3.70%.

Portfolio Pulse from Benzinga Insights

December 27, 2023 | 7:45 pm

DHI

D.R. Horton Inc. (NYSE:DHI) stock is currently priced at $150.70, experiencing a slight drop of 0.01%. Despite this, the stock has seen a significant increase of 19.17% over the past month and 69.64% over the past year. The P/E ratio, a key indicator of valuation, shows D.R. Horton with a lower P/E than the Household Durables industry average, suggesting it might be undervalued or expected to perform worse than its peers. Investors are advised to consider the P/E ratio alongside other financial metrics and qualitative analysis for a comprehensive investment decision.

Portfolio Pulse from Benzinga Insights

December 27, 2023 | 7:30 pm