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HTZ

TSLA

Hertz Global Holdings Inc (NASDAQ:HTZ) is selling its fleet of Tesla Inc's (NASDAQ:TSLA) Model 3 vehicles starting at $14,000 after applying a $4,000 U.S. tax credit for used EVs. The sale follows Hertz's expansion of its Tesla fleet, which now includes Model Y vehicles. The low prices are due to high mileage and wear from rental use. Hertz's Q3 earnings call revealed that the high cost of collision and damage repair for EVs, particularly Teslas, negatively impacted their results. A similar trend of phasing out Teslas from rental fleets is observed in Europe with Sixt SE, due to higher repair costs and lower resale values of electric cars.

Portfolio Pulse from Benzinga Neuro

January 11, 2024 | 4:32 am

BTCUSD

ETCUSD

ETHUSD

Ethereum Classic (ETC) has surged 34% in the past 24 hours, outperforming Bitcoin (BTC) and Ethereum (ETH), following the SEC's approval of Bitcoin ETFs. The trading volume for ETC increased by 234%, reaching $1.54 billion. Despite the rise, sentiment around ETC remains neutral. Bitcoin saw a modest 1% increase, while Ethereum rose by over 9%. The crypto market has been optimistic since BlackRock filed for a Bitcoin ETF in June. ETC is trading at $28, up 33.92%.

Portfolio Pulse from Mehab Qureshi

January 11, 2024 | 3:53 am

BTCUSD

Jim Cramer, host of CNBC's 'Mad Money', discussed the potential market behavior of Bitcoin in light of the SEC's approval of Bitcoin ETF applications. He suggested that the typical 'sell the news' pattern might not occur with Bitcoin's price, which recently reached $47,000. Cramer has previously expressed a preference for holding actual Bitcoin over related stocks like Riot Platforms and has been skeptical about investing in crypto due to legal issues in the industry.

Portfolio Pulse from Mehab Qureshi

January 11, 2024 | 3:26 am

GBTC

The SEC approved Bitcoin ETFs, leading to a surge in major cryptocurrencies like Bitcoin, Ethereum, and Dogecoin. The approval follows a court ruling against the SEC's previous rejection of Grayscale's spot ETF proposal. The market anticipates further growth in cryptocurrencies, with predictions of Bitcoin reaching $100K. The overall crypto market cap stands at $1.70 trillion, with a slight decrease in the past 24 hours. Stocks closed higher as investors await inflation data and earnings reports.

Portfolio Pulse from Mehab Qureshi

January 11, 2024 | 2:52 am

SHPW

Howard Marks, co-founder of Oaktree Capital, criticized the Federal Reserve's 'activist' approach, suggesting that the U.S. hasn't had a free market in decades. He warned that a return to low-interest rates could lead to poor investment behaviors and inflate asset prices, potentially causing bubbles and exacerbating wealth inequality. Marks emphasized the problems of the easy-money era before the pandemic and the risk of economic overheating leading to inflation. His comments come amid expectations that the Fed may cut interest rates again, with recent minutes suggesting rates are at or near their peak.

Portfolio Pulse from Benzinga Neuro

January 11, 2024 | 2:00 am

COIN

MSTR

NVDA

RIOT

TSLA

The stock market showed positive trends with the Nasdaq Composite, Dow Jones, and S&P 500 all closing higher. Individual stocks related to the cryptocurrency sector, such as Riot Blockchain (RIOT), Coinbase (COIN), and MicroStrategy (MSTR), experienced mixed results following the approval of Bitcoin Spot ETFs. NVIDIA (NVDA) saw gains despite challenges in China's AI market, while Tesla (TSLA) had a slight decrease amid global EV market competition.

Portfolio Pulse from Benzinga Neuro

January 11, 2024 | 1:53 am

BITW

BTC

GBTC

Economist Peter Schiff expressed skepticism about Bitcoin's utility following the SEC's approval of Bitcoin Spot ETFs. Schiff tweeted that there are now eleven more ways to speculate on Bitcoin, but questioned what's left to bet on given Bitcoin's lack of real-world utility compared to gold. He warned that wealth could be lost by late investors and suggested that the Bitcoin ETF approval might not lead to the expected rally. Bitcoin was trading higher at the time of the report. The SEC approved eleven Bitcoin ETFs, including those from Grayscale, Bitwise, Hashdex, iShares, Valkyrie, ARK 21Shares, Invesco Galaxy, VanEck, WisdomTree, Fidelity Wise Origin, and Franklin.

Portfolio Pulse from Benzinga Neuro

January 11, 2024 | 1:11 am

CYBN

ENVB

NUMIF

TSLA

The psychedelics industry is experiencing rapid growth, with the global market projected to reach $7.1 billion by 2032. The article highlights 30 influential figures in the field, including executives, scientists, and advocates, who are driving innovation and acceptance of psychedelic medicines. Among the notable individuals are Janet Qi of PurMinds Neuropharma, Dr. Anna Yusim, Kristina Spionjak of HLTH Communications, Marik Hazan of Tabula Rasa Ventures, Shayla Love, Doug Drysdale of Cybin Inc. (NYSE:CYBN), Dr. Beatriz Caiuby Labate of MAPS, Dr. David Meiri, Nataliya Vorobyeva of Hive Bio, Dr. Joseph Tucker of Enveric Biosciences (NASDAQ:ENVB), Amanda Siebert, Mattha Busby, Dennis Walker of Mycopreneur, Graham Pechenik, Rick Doblin of MAPS PBC, Jules Evans, Prof. David Nutt, Dr. Peter Grinspoon, Dr. Nolan Williams, Genevieve and Steve Jurvetson (Steve is an early VC investor in Tesla (NASDAQ:TSLA)), Reilly Capps, Payton Nyquvest of Numinus Wellness (OTC:NUMIF), Andrew Huberman, Dr. Max Wolff, Amanda Feilding, Dr. Rachel Yehuda, Dr. Mason Marks, David B. Yaden, and Dr. Robin Carhart-Harris. The article emphasizes the diverse backgrounds and contributions of these individuals to the advancement of psychedelic therapy for mental health.

Portfolio Pulse from Lara Goldstein

January 11, 2024 | 12:56 am

DKNG

Polymarket, a crypto prediction market, offers betting on various events including the 2024 U.S. presidential election. It has become a popular platform for wagering on political outcomes, with significant amounts bet on the Republican nominee and presidential election markets. Despite its popularity, Polymarket does not offer political betting to U.S. residents following a CFTC ruling. DraftKings CEO Jason Robins expressed interest in political betting in the U.S. and is working with regulators to approve it. DraftKings currently offers betting on the 2024 election in Ontario, Canada.

Portfolio Pulse from Chris Katje

January 11, 2024 | 12:28 am

FOX

FOXA

WBD

Former President Donald Trump's lead in the GOP presidential candidate polls has slightly decreased from a 55-point lead to a 52-point lead, with Ron DeSantis gaining ground and Nikki Haley maintaining third place. The upcoming fifth Republican primary debate on CNN, owned by Warner Bros. Discovery (NASDAQ:WBD), will not feature Trump, who will instead participate in a town hall on Fox News, owned by Fox Corporation (NASDAQ:FOX)(NASDAQ:FOXA). The debate is considered very important by 45% of voters, with interest in DeSantis and Haley's perspectives on Trump.

Portfolio Pulse from Chris Katje

January 11, 2024 | 12:19 am