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ARKK

MSFT

NVDA

TSLA

Cathie Wood's Ark Innovation ETF (ARKK) has underperformed compared to the 'Magnificent Seven' tech stocks, which have led the market rebound. ARKK's holdings include Tesla and Microsoft but exited Nvidia in January 2023, considering it overvalued. The Magnificent Seven, including Meta, Apple, Alphabet, Amazon, Nvidia, Microsoft, and Tesla, have shown significant returns, with Nvidia being the top performer due to its AI technology. In contrast, ARKK saw a negative return of 7.80%.

Portfolio Pulse from Shanthi Rexaline

February 08, 2024 | 6:14 am

ArcelorMittal reported a decrease in Q4 adjusted EPS to $1.18 from $1.37 year-over-year and missed sales estimates with $14.55 billion against the expected $15.42 billion. This represents a 13.85% decrease in sales compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

February 08, 2024 | 6:13 am

LCID

TSLA

Elon Musk expressed frustration over Lucid Group CEO Peter Rawlinson's $379 million compensation in 2022, especially as Musk's own $56 billion pay package was invalidated by Delaware's Court of Chancery. Despite Lucid's stock dropping about 70.7% over the past year, Rawlinson's compensation starkly contrasts with the performance-based equity compensation plan Musk was under, which was dismissed by a judge as an 'unfathomable sum.'

Portfolio Pulse from Anan Ashraf

February 08, 2024 | 6:07 am

AAPL

The resale market for Apple Inc.'s Vision Pro mixed-reality headset is booming, with prices reaching up to $5,000 in overseas markets, significantly above the original $3,500 price tag. The device, released in limited U.S. stores in early February, is now being resold at a premium in Japan, China, Singapore, and Hong Kong. Demand remains strong, driven by exclusivity, with analysts noting the device's potential to revolutionize the market and possibly replace tablets in the future.

Portfolio Pulse from Ananya Gairola

February 08, 2024 | 5:14 am

BABA

Alibaba Group Holding Ltd (NYSE:BABA) has postponed the IPOs of Cainiao Smart Logistics and Freshippo due to challenging market conditions, as announced by Chairman Joe Tsai. Despite a 5% year-on-year revenue growth in Q3 FY2023, Alibaba missed analyst forecasts, leading to a decision to delay these IPOs while focusing on core e-commerce operations and strategic asset sales. Alibaba's shares dropped significantly in both the U.S. and Hong Kong markets following the announcement.

Portfolio Pulse from Benzinga Neuro

February 08, 2024 | 5:07 am

BTCUSD

Bakkt, a digital asset company, warned in an SEC filing about its potential inability to continue operations due to insufficient liquidity, amidst a rapidly changing cryptocurrency industry. The company, which went public in 2021 with a $2.1 billion valuation, has shifted its focus to providing cryptocurrency trading and custody services. Following the SEC report amendment, Bakkt's shares fell from $1.47 to $1.29.

Portfolio Pulse from Mehab Qureshi

February 08, 2024 | 4:51 am

TSLA

Cathie Wood, CEO of Ark Invest, remains bullish on Tesla Inc (NASDAQ:TSLA) despite a recent 25% stock downturn, attributing the slump to a cyclical low. She anticipates a significant turnaround within the next two years, driven by Tesla's introduction of autonomous taxi networks. Wood's confidence is underscored by Ark Invest's recent purchases of Tesla shares, totaling over $14 million despite market fluctuations. She projects Tesla could reach a $2,000 share price within five years, implying a market capitalization exceeding $5 trillion, largely due to the growth of the electric vehicle market and the revolutionary impact of robotaxis.

Portfolio Pulse from Benzinga Neuro

February 08, 2024 | 3:50 am

AMZN

GOOGL

META

MSFT

NVDA

NYCB

Major cryptocurrencies including Bitcoin, Ethereum, and Dogecoin surged amid a backdrop of strong corporate profits and increased accumulation by large holders. The surge coincides with the Nasdaq Composite and Dow Jones Industrial Average experiencing gains, driven by tech giants like Nvidia, Microsoft, and Meta Platforms. New York Community Bancorp's shares rose despite a Moody's downgrade, amidst concerns over its exposure to troubled commercial real estate loans. Analysts suggest the correction for Bitcoin may be over, indicating a potential pre-halving rally.

Portfolio Pulse from Mehab Qureshi

February 08, 2024 | 3:49 am

HOOD

NVDA

PACB

PATH

RXRX

TWST

TXG

Cathie Wood's Ark Invest sold over $2.8 million worth of Nvidia (NVDA) shares amid AI hype and bought $1.3 million worth of Robinhood (HOOD) stock. The sale of Nvidia shares reflects a cautious stance towards its valuation despite its AI potential. Meanwhile, the purchase of Robinhood shares indicates confidence in its financial outlook and fintech industry potential. Ark also adjusted its portfolio by selling UiPath (PATH) shares and buying into Pacific Biosciences (PACB), Twist Bioscience (TWST), 10X Genomics (TXG), and Recursion Pharmaceuticals (RXRX).

Portfolio Pulse from Benzinga Neuro

February 08, 2024 | 3:20 am

AAPL

AMZN

GOOGL