Streetbeat News

Stock Prices

MSTR

MicroStrategy Incorporated (NASDAQ:MSTR) shares are trading lower in sympathy with the price of Bitcoin (CRYPTO: BTC) which fell to a two-month low. MicroStrategy, the largest institutional holder of Bitcoin, saw its shares fall by 4.5% after Bitcoin's price fell more than 7%. The company owns 152,800 BTC, representing a $4.53 billion investment. MSTR shares are down by more than 5% on above-average trading volume.

Portfolio Pulse from Erica Kollmann

August 18, 2023 | 2:56 pm

HKIT

Shares of Hitek Global (HKIT) have resumed trading.

Portfolio Pulse from Happy Mohamed

August 18, 2023 | 2:55 pm

TSLA

Nine Cybertrucks were spotted at Tesla Inc.'s Fremont factory, leading to speculation that the company is gearing up for the imminent release of the vehicles. The Cybertrucks, which arrived on three car carrier trucks, appeared polished and seemingly ready for customer handover. A dominant theory is that these vehicles might serve as display units in local Tesla showrooms.

Portfolio Pulse from Benzinga EV Insights

August 18, 2023 | 2:53 pm

AMAT

BTCUSD

TBT

TLT

Hedge funds have been profiting from short selling long bonds, while asset allocators and their clients have been buying long term bonds, leading to a rise in the yield on 30 year Treasuries to 4.397%. This is reflected in the chart of iShares 20 Plus Year Treasury Bond ETF (NASDAQ:TLT). The Arora Report had advised its members to buy leveraged inverse ProShares UltraShort 20+ Year Treasury (NYSE:TBT), which has been highly profitable. Chinese bonds have recently been decimated and the yuan has been weakening against the dollar. Applied Materials, Inc. (NASDAQ:AMAT) reported strong earnings, but the stock is falling in the premarket due to general malaise about tech stocks. Money flows are negative in several tech stocks and ETFs, and Bitcoin (CRYPTO: BTC) has fallen close to $26,000.

Portfolio Pulse from The Arora Report

August 18, 2023 | 2:52 pm

NVDA

QQQ

SPY

Nvidia Corp (NVDA) stock traded lower on Friday, in line with broader indexes SPDR S&P 500 (SPY) and Invesco QQQ Trust, Series 1 (QQQ). The drop is attributed to a drag from big technology and growth stocks, as evidence of a resilient U.S. economy flared fears of interest rates staying higher for longer. Despite this, Nvidia continues to attract analyst confidence ahead of its quarterly results, with Wedbush analyst Matt Bryson reiterating an Outperform rating and a $490 price target.

Portfolio Pulse from Anusuya Lahiri

August 18, 2023 | 2:50 pm

BTCUSD

Cryptocurrency expert, PlanB, predicts a potential surge in Bitcoin's (CRYPTO: BTC) value, possibly reaching $300,000 to $500,000 by 2024. This prediction is based on the stock-to-flow (S2F) model, which compares an asset's price to its available supply. According to this model, Bitcoin's value could reach $60,000 by the anticipated halving event in April 2024, followed by a significant jump to between $300,000 and $500,000.

Portfolio Pulse from Murtuza Merchant

August 18, 2023 | 2:48 pm

HKIT

Shares of Hitek Global (HKIT) were halted on a circuit breaker to the upside, with the stock now up 24.6%.

Portfolio Pulse from Happy Mohamed

August 18, 2023 | 2:47 pm

FCO

abrdn Glb Inc Fund (AMEX:FCO) has announced a monthly dividend of 7 cents per share. The ex-dividend date is Wednesday, meaning the stock will likely open 7 cents lower to reflect the payout. Shareholders who own FCO as of the end of Tuesday's session are eligible to receive the dividend, which will be paid out on August 31, 2023.

Portfolio Pulse from Benzinga Insights

August 18, 2023 | 2:45 pm

DIA

QQQ

SPY

Major indexes are experiencing a downturn due to rising Treasury yields and uncertainty in China following Evergrande's Chapter 15 bankruptcy protection filing.

Portfolio Pulse from Benzinga Newsdesk

August 18, 2023 | 2:43 pm

BRID

CHGG

STG

VLGEA

The article lists five value stocks in the consumer defensive sector that may be undervalued. These include Sunlands Technology (STG), Bridgford Foods (BRID), Chegg (CHGG), iHuman (IH), and Village Super Market (VLGEA). The companies have varying P/E ratios and recent earnings per share reports. The risk of investing in these value stocks is that they may never rebound from their undervalued position.

Portfolio Pulse from Benzinga Insights

August 18, 2023 | 2:40 pm