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MSFT

NVDA

This week in AI, Grimes and Curio launched an AI toy named Grok, US regulators tagged AI as a financial risk, Sam Altman debunked GPT 4.5 leak speculations, Nvidia's stock is considered a bargain by Bernstein Research, and OpenAI suspended ByteDance for violating a license agreement. Nvidia's stock has surged over 241% in 2023, and ByteDance used OpenAI's GPT to train a competing AI model.

Portfolio Pulse from Benzinga Neuro

December 17, 2023 | 12:02 pm

ARKF

ARKK

ARKW

COIN

Cathie Wood's Ark Invest sold 82,255 shares of Coinbase Global Inc (NASDAQ:COIN) through its ETFs ARKK, ARKW, and ARKF, amidst a crypto market downturn. Bitcoin is predicted to face a downturn, potentially dropping to $38,000. BONK, a Dogecoin rival, saw a 75% price increase and a 140% surge in trading volume. Shiba Inu's supply on exchanges decreased by 0.51%, indicating potential for price gains. Crypto analyst Ali Martinez predicts a bullish breakout for Shiba Inu, with a key resistance at $0.000011.

Portfolio Pulse from Benzinga Neuro

December 17, 2023 | 11:34 am

EGGF

EG Acquisition Corp. (EGGF) plans to transfer its listing from the NYSE to NYSE American and list flyExclusive under the symbol 'FLYX' upon completion of their business combination. The transfer is contingent on meeting all closing conditions and NYSE American's authorization. EGGF and its warrants will trade under 'EGGF' and 'EGGFW' on the NYSE until the combination is finalized, after which they will trade on NYSE American as 'FLYX' and 'FLYXW'.

Portfolio Pulse from Benzinga Newsdesk

December 16, 2023 | 11:49 pm

BRN

Barnwell Industries (AMEX:BRN) reported Q4 earnings with an EPS of $(0.01), which is unchanged from the previous year. However, sales decreased by 18.37% to $6.84M from $8.38M in the same quarter last year.

Portfolio Pulse from Happy Mohamed

December 16, 2023 | 11:44 pm

AIRE

ReAlpha Tech Corp (NASDAQ:AIRE) experienced a significant decline in its Q2 financial performance, with EPS dropping from $(0.04) to $(0.10) YoY and sales decreasing by 69.75% from $110.62K to $33.46K YoY.

Portfolio Pulse from Happy Mohamed

December 16, 2023 | 11:36 pm

HOOD

SCHW

Robinhood Markets, Inc. (HOOD) reported a growth in net cumulative funded accounts to 23.3 million and net deposits of $16.4 billion over the last year. The company has attracted wealthier clients from larger brokerages due to a 1% match promotion on transferred accounts, resulting in $1.1 billion in account transfers since October 23. Despite this, Robinhood's $94 billion in assets under custody is still far behind competitors like Charles Schwab Corporation (SCHW) and Morgan Stanley's (MS) E*Trade. Robinhood is expanding its services to include features like retirement accounts and 24-hour trading, aiming to move beyond its image as an app for young, novice investors. Meanwhile, SCHW reported no significant client loss to Robinhood, and HOOD shares closed lower by 3.56% on Friday.

Portfolio Pulse from Nabaparna Bhattacharya

December 16, 2023 | 9:44 pm

BAC

JPM

Wall Street banks have adjusted their 2024 interest rate forecasts after the Federal Reserve's dovish pivot, suggesting potential rate cuts. The Fed's projections show a decrease in expected end-of-2024 interest rates to 4.6%. Bank of America (BAC) sees a 90% chance of a rate cut by March. Goldman Sachs (GS) predicts three 25 basis point cuts in the first half of the year, while JPMorgan (JPM) expects the first cut in June with a target range 125 basis points lower by year-end. Macquarie Group Ltd forecasts nine 25-basis point rate cuts in 2024.

Portfolio Pulse from Bibhu Pattnaik

December 16, 2023 | 9:27 pm

BTCUSD

Cryptocurrency analyst Justin Bennett predicts a potential downturn for Bitcoin, suggesting it could drop to $38,000 if it fails to hold above $43,300. He notes a possible lower high forming and pressure on trend line support. Bennett also observes USDT dominance and total market cap resistance, indicating bearish trends. Bitcoin was trading at $42,356.13, down 4% over the past week.

Portfolio Pulse from Bibhu Pattnaik

December 16, 2023 | 9:00 pm

WBA

Walgreens Boots Alliance Inc. (NASDAQ:WBA) closed at $25.14, up 2.07%. The company has a market cap of $21.88 billion and a 52-week range of $19.68 to $41.31. WBA declared a quarterly dividend of $0.48 per share, totaling $1.92 annually with a yield of 9.21%. To earn $1,000 per month from dividends, an investment of $130,293 is needed, equating to 5,183 shares at the current price. Dividend yield can fluctuate with stock price changes and company dividend policies.

Portfolio Pulse from Shankar Iyer

December 16, 2023 | 9:00 pm

BABA

VWAGY

XPEV

Alibaba Group Holding Limited (NYSE:BABA) has reduced its stake in XPeng Inc. (NYSE:XPEV) from 10.2% to 7.5%, selling about 25 million American depositary receipts for approximately $391 million. This decision is part of Alibaba's strategy to reshape its investment strategy and manage capital. Despite the reduction, XPeng assures that Alibaba remains its second-largest shareholder and their strategic relationship continues, with ongoing collaborations in autonomous driving and in-car payment systems. Meanwhile, Volkswagen AG (OTC:VWAGY) has invested $700 million in XPeng for a 4.99% stake, aiming to co-develop EVs in China. Following the news, XPEV shares dropped by 7.54%, while BABA shares rose by 2.76%.

Portfolio Pulse from Nabaparna Bhattacharya

December 16, 2023 | 8:41 pm