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NEO

NeoGenomics shares are trading lower due to a preliminary injunction granted to Natera in a patent infringement lawsuit against NeoGenomics' RaDar test.

Portfolio Pulse from Benzinga Newsdesk

December 28, 2023 | 2:02 pm

AMD

NVDA

Nvidia Corp (NASDAQ:NVDA) experienced significant financial growth due to the AI boom, with net income reaching $17.5 billion in the first three quarters of 2023, a sixfold increase from the previous year. The company's stock value also surged by 237%. This growth is attributed to the widespread use of Nvidia's GPUs in large language models like OpenAI's ChatGPT. Wall Street analysts favor Nvidia over Advanced Micro Devices, Inc (NASDAQ:AMD), citing Nvidia's complete computing stack and a strong market share in the AI accelerator market.

Portfolio Pulse from Anusuya Lahiri

December 28, 2023 | 2:00 pm

MULN

Mullen Automotive, Inc. has delivered 50 Class 1 EV cargo vans to Randy Marion Automotive Group, invoicing them for $1,680,000. The company plans to deliver a total of 285 vans within the next five business days, contributing to over $6 million invoiced for such vehicles in the fiscal first quarter. These deliveries are part of a larger 6,000 vehicle order worth $200 million, with the majority to be delivered by the end of 2024. The Mullen ONE van is designed for last-mile delivery and is expected to be the first EV cargo van in the U.S. Class 1 commercial vehicle segment.

Portfolio Pulse from Benzinga Newsdesk

December 28, 2023 | 2:00 pm

SQ

Block (NYSE:SQ) has seen an 8.64% increase in short interest since its last report, with 22.83 million shares sold short, representing 4.15% of available shares. It would take 2.23 days to cover these short positions based on average trading volume. While an increase in short interest can indicate bearish sentiment, Block has less short interest compared to its peer group average of 5.96%. This data does not necessarily predict a near-term price fall but suggests traders are shorting more shares.

Portfolio Pulse from Benzinga Insights

December 28, 2023 | 2:00 pm

LYG

Lloyds Banking Group (NYSE:LYG) has seen a 25% decrease in short interest since its last report, with 9.35 million shares sold short, representing 0.06% of its float. The average time to cover these short positions is 1.21 days. Short interest is a measure of market sentiment, and a decrease suggests investors may be more bullish on the stock. Lloyds has less short interest compared to its peer group average of 0.84%.

Portfolio Pulse from Benzinga Insights

December 28, 2023 | 2:00 pm

NVDA

NVIDIA Corporation (NVDA) has seen a decrease in short interest, with the short percent of float falling 9.48% since the last report. The current short interest is 24.94 million shares, or 1.05% of the float, with a short covering time of approximately 1.0 days. This decline in short interest may indicate a more bullish sentiment among investors compared to the peer group average short interest of 3.71%. However, this does not necessarily predict a near-term rise in NVIDIA's stock price.

Portfolio Pulse from Benzinga Insights

December 28, 2023 | 2:00 pm

SVM

Silvercorp Metals (NYSE:SVM) has revised its takeover bid for Australian gold developer OreCorp Limited, offering $188 million to acquire all shares it doesn't already own. Silvercorp, which holds a 15.74% stake in OreCorp, has made the offer under limited conditions, already securing approval from the Tanzania Fair Competition Commission. The offer includes 0.0967 shares of Silvercorp and A$0.19 in cash per OreCorp share. The deal is contingent on a minimum 50.1% acceptance from OreCorp's board and no superior bid. The acquisition is part of an industry trend towards consolidation and will allow Silvercorp to diversify beyond its China-based operations.

Portfolio Pulse from Stjepan Kalinic

December 28, 2023 | 1:58 pm

COIN

MARA

RIOT

Crypto-related stocks Coinbase Global Inc (COIN), Marathon Digital Holdings Inc (MARA), and Riot Platforms Inc (RIOT) are trading lower, following a recent crypto rally and Bitcoin's price pullback. The downturn comes despite anticipation of a potential spot Bitcoin ETF approval expected in early 2024 and the Federal Reserve's hint at possible rate cuts next year. Ark Invest's Cathie Wood sold a significant portion of her Coinbase position, with Coinbase shares down about 2% and up 400% YTD. Marathon Digital and Riot Blockchain also saw declines of about 5% and 1%, respectively, after recent surges in their stock prices.

Portfolio Pulse from Adam Eckert

December 28, 2023 | 1:53 pm

BABA

FXI

Alibaba Group Holding Limited (NYSE:BABA) stock is trading in line with the broader index IShares China Large-Cap ETF (NYSE:FXI) following reports of China's central bank's commitment to support the economy. However, a U.S. judge has denied Alibaba's request to dismiss a lawsuit over the sale of counterfeit Squishmallows on its platforms. Alibaba's stock has underperformed year-to-date compared to FXI, with a 17.3% loss versus FXI's 21% loss. BABA shares saw a premarket increase of 1.62%.

Portfolio Pulse from Anusuya Lahiri

December 28, 2023 | 1:50 pm

CWEN

GNE

OTTR

RNW

As of Dec. 28, 2023, Otter Tail Corporation (OTTR), Clearway Energy, Inc. (CWEN), ReNew Energy Global Plc (RNW), and Genie Energy Ltd. (GNE) are considered overbought according to their RSI values, which could signal a potential short-term decline in their stock prices. Each company has experienced significant stock price increases over the past month, with OTTR, CWEN, and GNE seeing their shares fall recently, while RNW's shares gained slightly.

Portfolio Pulse from Avi Kapoor

December 28, 2023 | 1:50 pm