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Stock Prices

TSLA

Tesla, Inc. (NASDAQ:TSLA) used car prices have dropped significantly, with a 50% decline from a mid-2022 peak, reflecting the impact of the company's recent price cuts and broader market trends. The average used Tesla car price fell to $33,913, with notable declines in Model X and Model S prices. This trend is attributed to higher interest rates, improved new car supply, and price cuts by automakers, especially in the EV sector. Tesla's price reductions, including a recent $1,000 discount on the Model Y, could affect automakers' profits and influence new car purchase decisions due to lower resale values.

Portfolio Pulse from Shanthi Rexaline

February 12, 2024 | 7:40 am

ANET

Arista Networks, Inc. (NYSE:ANET) is anticipated to report higher Q4 earnings on Feb. 12, 2024, with expected earnings of $1.70 per share compared to $1.41 per share year-over-year, and projected revenue of $1.53 billion versus $1.28 billion. Following better-than-expected Q3 results and positive Q4 revenue guidance, ANET shares increased by 2.4%. Analysts from Wells Fargo, JMP Securities, Melius Research, Morgan Stanley, and Piper Sandler have recently updated their ratings and price targets for ANET, reflecting a positive outlook.

Portfolio Pulse from Avi Kapoor

February 12, 2024 | 7:19 am

BTCUSD

President Joe Biden's post on X featuring 'laser eyes', a popular meme among Bitcoin supporters, has sparked discussions in the cryptocurrency community. The gesture, following the Kansas City Chiefs' Super Bowl victory, is seen by some as a nod to Bitcoin. The 'laser eyes' meme, symbolizing enthusiasm for Bitcoin, has been adopted by various celebrities and even President Nayib Bukele of El Salvador. BTC's price saw a slight increase of 0.12% in the last 24 hours.

Portfolio Pulse from Mehab Qureshi

February 12, 2024 | 6:39 am

META

NVDA

TSLA

Tesla Inc (NASDAQ:TSLA) is facing challenges maintaining its status among the 'Magnificent Seven' tech stocks, with a 22% stock price drop in 2024 and doubts about its AI and EV market position. Unlike its peers, such as NVIDIA Corp (NASDAQ:NVDA) and Meta Platforms Inc (NASDAQ:META), Tesla's growth is hindered by a slowdown in EV demand and skepticism about its AI capabilities. Analysts have significantly cut Tesla's profit estimates, highlighting its reliance on the cyclical automotive industry and the uncertain future of self-driving technology.

Portfolio Pulse from Benzinga Neuro

February 12, 2024 | 6:02 am

BYDDF

LI

Chinese EV traders are exploiting a loophole that allows the export of new cars as secondhand, bypassing trade barriers. This tactic has enabled the export of popular models from BYD Co and Li Auto to markets like Russia, Kazakhstan, and Saudi Arabia, despite a 25% tariff on Chinese auto imports by the US. The demand for Chinese EVs is rising globally, leading to strategic discussions among China's top automakers.

Portfolio Pulse from Benzinga Neuro

February 12, 2024 | 5:57 am

DOGEUSD

LINKUSD

Chainlink (LINK) has surpassed Dogecoin (DOGE) in market capitalization after a whale acquired 4.56 million LINK tokens worth $83.6 million through Binance. This buying spree resulted in LINK's price increasing by 41.8% to $20.57, moving its market cap over $11.76 billion, above Dogecoin's $11.5 billion.

Portfolio Pulse from Mehab Qureshi

February 12, 2024 | 5:31 am

BTCUSD

Edward Snowden, known for his critical views on privacy and government surveillance, expressed his interest in the Bitcoin market over the Super Bowl LVIII, highlighting his focus on the cryptocurrency's chart. This year's Super Bowl lacked advertisements from major crypto firms, a departure from previous years. Jack Dorsey, co-founder of Twitter and Block Inc, made a subtle nod to Bitcoin by wearing a 'Satoshi' sweatshirt at the event. Bitcoin's value saw a significant increase, reaching over $48,000, coinciding with the Lunar New Year celebrations in Asia. The cryptocurrency market has seen a surge in investment, particularly in BTC Exchange Traded Funds (ETFs), which have attracted over a billion dollars, indicating a rising demand for Bitcoin. Notably, U.S. Spot Bitcoin ETFs experienced a substantial influx of funds, contrasting with the reduced outflows from GrayScale's Bitcoin Trust.

Portfolio Pulse from Mehab Qureshi

February 12, 2024 | 3:58 am

BTCUSD

SQ

During Super Bowl LVIII, no crypto firms advertised, marking a shift from previous years. Block Inc's CEO, Jack Dorsey, was seen wearing a 'Satoshi' sweatshirt, highlighting his support for Bitcoin. Crypto exchanges like Kraken and Coinbase are diversifying their marketing strategies and focusing on global outreach and lobbying for crypto-friendly laws in the U.S., respectively. Major financial firms like BlackRock and Grayscale also opted out of Super Bowl ads despite recent approvals for Bitcoin Spot ETFs. Bitcoin's price saw a slight increase.

Portfolio Pulse from Mehab Qureshi

February 12, 2024 | 3:12 am

TSLA

Tesla Inc (NASDAQ:TSLA) CEO Elon Musk announced a temporary $1000 price cut on the Model Y SUV to boost deliveries during the winter demand lull. The discount applies to the rear-wheel drive and long-range versions, with prices reverting on March 1. Musk aims to address manufacturing efficiency challenges and counter rumors about inventory clearance for a Model Y refresh.

Portfolio Pulse from Anan Ashraf

February 12, 2024 | 2:53 am

BTCUSD

DOGEUSD

ETHUSD

Cryptocurrencies showed mixed trading as the Lunar New Year began, with Bitcoin, Ethereum, and Dogecoin experiencing varied changes in their prices. Analysts predict a significant price target for Bitcoin, influenced by historical Lunar New Year trends and anticipation of Bitcoin ETFs. The global cryptocurrency market cap increased by 2.90% to $1.70 trillion. U.S. stock futures remained steady, with upcoming economic data releases expected to be closely monitored by traders.

Portfolio Pulse from Mehab Qureshi

February 12, 2024 | 2:43 am