Streetbeat News

Stock Prices

AAPL

BABA

LRLCF

LULU

NKE

PDD

China's Singles' Day, a massive shopping event, outperforms the U.S. Black Friday with significant growth and sales. Major e-commerce players like Alibaba, JD.Com, and PDD Holdings participate, with global brands such as Nike, Lululemon, Estee Lauder, Procter & Gamble, Apple, and L'Oreal benefiting from their presence on Alibaba's Tmall platform. Despite past successes, some brands are cautious about this year's event due to a softer market trend.

Portfolio Pulse from Nabaparna Bhattacharya

November 11, 2023 | 6:20 pm

FSR

GOEV

KARS

LCID

MBGAF

TSLA

Electric vehicle stocks experienced a downturn in the week ending Nov. 11, with Lucid Group reporting a disappointing quarter and lowering its 2023 production outlook. Tesla faced unionization support from President Biden and labor issues in Sweden, while also adjusting prices in China. Fisker is seeking manufacturing partners, and Canoo unveiled a new electric truck. Mercedes-Benz is expanding its charging network in the U.S. The KraneShares Electric Vehicles ETF saw a weekly decline.

Portfolio Pulse from Shanthi Rexaline

November 11, 2023 | 3:28 pm

BLK

Hong Kong is considering the introduction of cryptocurrency ETFs as part of its initiative to become a central hub for digital assets in Asia-Pacific. This move, discussed in the context of the upcoming Benzinga's Future of Digital Assets conference, is seen as a way to mainstream digital currencies. BlackRock Inc. (NYSE:BLK) is mentioned in relation to the potential approval of the first U.S. spot ETFs for Bitcoin, which has doubled in value this year.

Portfolio Pulse from Murtuza Merchant

November 11, 2023 | 2:24 pm

ABNB

COIN

DIS

PLUG

TSLA

The stock market saw gains with the S&P 500 up 1.3%, Dow Jones up 0.7%, and Nasdaq up 2.4% over the past week. Moody's revised the U.S. credit outlook to negative. Bullish views include Tesla's expected rally, Disney's profitability rebuild, and Dogecoin's potential surge to 20 cents. Bearish news includes Plug Power's liquidity concerns, Airbnb's tax evasion issues in Italy, and Coinbase's regulatory troubles in Kazakhstan.

Portfolio Pulse from Michael Cohen

November 11, 2023 | 2:04 pm

BTCUSD

ETHUSD

Finder's Ethereum Predictions Report forecasts ETH to reach $1,800 by end of 2023, $5,800 by 2025, and $14,411 by 2030. The panel is divided on ETH's future, with 48% holding, 41% buying, and 10% selling. Skepticism exists due to Ethereum's shift to proof of stake. BlackRock Inc.'s filing for a spot Ether ETF has recently brought attention to ETH, which traded at $2,058.72, while Bitcoin was at $37,139.40.

Portfolio Pulse from Ananya Gairola

November 11, 2023 | 1:51 pm

TSLA

Jim Chanos, founder of Kynikos Associates, criticized the public perception of Tesla Inc. (NASDAQ:TSLA) as a futuristic company, stating it is fundamentally an automaker with typical industry returns and margins. He challenges the image sold by Elon Musk and points out that despite the hype around AI, alternative energy, and robotics, Tesla's financials reflect those of a traditional car company. Chanos also commented on Tesla's labor costs and the brand's appeal over the general concept of electric vehicles.

Portfolio Pulse from Ananya Gairola

November 11, 2023 | 6:26 am

BLK

BTCUSD

Peter Schiff, a well-known economist and cryptocurrency critic, has predicted that Bitcoin will crash before the launch of BlackRock Inc.'s anticipated spot Bitcoin ETF. Schiff's prediction is based on a poll he conducted, which received over 24,000 responses, with the majority supporting 'Buy & HODL till the moon.' Despite Bitcoin's recent 37% surge in price, Schiff believes the demand for the ETF has been overestimated and that Bitcoin owners are waiting to sell, not buy. He warns that the market may face a crash as speculators may start selling off before the ETF's potential SEC approval by Nov. 17.

Portfolio Pulse from Rounak Jain

November 11, 2023 | 5:20 am

BLK

BlackRock (NYSE:BLK), the world's largest asset manager, is reportedly 'increasingly confident' that the SEC will approve its spot Bitcoin ETF by January 2024. A former BlackRock manager suggested that such approval could lead to $200 billion flowing into Bitcoin markets, potentially raising Bitcoin's price to $330,000. The SEC is expected to decide on twelve ETFs by November 17, with experts predicting a 90% chance of approval by January 10, 2024. Additionally, BlackRock has registered an iShares Ethereum Trust, indicating a possible future application for a spot Ethereum ETF.

Portfolio Pulse from Benzinga Neuro

November 11, 2023 | 2:50 am

TSLA

Tesla Model Y and Model 3 were listed on Cars.com, which is unusual as Tesla typically sells new cars exclusively through its own website. Elon Musk, CEO of Tesla, expressed that he was unaware of the listings. The incident raises questions about Tesla's marketing strategies. Additionally, Tesla recently recalled some Model S and Model X vehicles due to airbag installation issues and reduced prices for certain models, which received mixed reactions from the community and analysts.

Portfolio Pulse from Ananya Gairola

November 11, 2023 | 1:59 am

TEO

Telecom Argentina reported Q3 adjusted sales of $1.08 billion, surpassing the estimated $621.88 million by a significant margin.

Portfolio Pulse from Benzinga Newsdesk

November 10, 2023 | 11:44 pm