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CCJ

CDXS

DNA

TSLA

Ark Invest, led by Cathie Wood, sold 20,874 shares of Tesla Inc (TSLA) through its Ark Autonomous Technology & Robotics ETF (ARKQ), despite Tesla's stock showing an upward trend. Ark Invest also bought shares of Ginkgo Bioworks Holdings Inc (DNA) and Cameco Corp (CCJ), and sold shares of Codexis Inc (CDXS). Despite the sale, Ark Invest remains bullish on Tesla’s long-term prospects, particularly in AI.

Portfolio Pulse from Benzinga Newsbot

July 13, 2023 | 2:24 am

NVO

Pharmaceutical company Novo Nordisk (NYSE:NVO) is taking legal action to prevent the sale of knockoff versions of its semaglutide drugs in the U.S., citing trademark infringement and violation of state regulations against untested medications. The company argues that these knockoffs pose a risk to patient safety and provide an unfair competitive advantage. Despite warnings, some patients continue to use the knockoffs due to high drug prices.

Portfolio Pulse from Benzinga Newsbot

July 13, 2023 | 2:10 am

BYND

DIS

NIO

RXRX

TSLA

U.S. stocks traded higher with Dow Jones gaining over 100 points. Recursion Pharmaceuticals stock closed 115.29% higher after announcing a $50 million investment by NVIDIA Corporation and plans to accelerate the development of its AI foundation models. Beyond Meat stock closed 13.52% higher as its Beyond Steak product is expanding distribution. Tesla stock closed 0.82% higher with predictions that Cybertruck deliveries will exceed Wall Street estimates. Disney stock closed 0.78% higher after the extension of CEO Robert A. Iger's contract. NIO stock closed 3.24% higher after announcing a US$738.5 million strategic equity investment from CYVN Investments RSC Ltd.

Portfolio Pulse from Benzinga Newsbot

July 13, 2023 | 1:43 am

BBBYQ

KSS

WMT

MyPillow, led by CEO Mike Lindell, a supporter of former President Donald Trump, is facing significant business challenges due to 'massive, massive cancellation' from big box stores. The company lost $100 million as retailers like Walmart Inc, Bed Bath & Beyond, and Kohl's Corporation pulled MyPillow products from their shelves following Lindell's controversial claims about the 2020 presidential election.

Portfolio Pulse from Benzinga Neuro

July 13, 2023 | 1:05 am

FOX

FOXA

NWSA

Rupert Murdoch, founder of Fox News and chairman of News Corp (NASDAQ:NWSA) and Fox Corporation (NASDAQ:FOX)(NASDAQ:FOXA), is reportedly losing confidence in Florida Gov. Ron DeSantis' ability to defeat Donald Trump in the 2024 election. Murdoch's media outlets have significant influence over conservative voters, and his shift in support could impact the election landscape. This comes amid a falling out between Trump and Fox News, with Trump criticizing the network's coverage of DeSantis.

Portfolio Pulse from Chris Katje

July 12, 2023 | 11:13 pm

INMD

Babylon Capital has highlighted Inmode (NASDAQ:INMD), a medical technology company, as an undervalued high-quality business with long-term potential. The company has a strong balance sheet, impressive growth, and high return metrics. Despite being a young mid-cap business, it has the potential to significantly impact the value of a portfolio, especially if it gains approvals for the use of its technology in non-aesthetic applications.

Portfolio Pulse from Dimitry Nakhla

July 12, 2023 | 10:11 pm

TSLA

Tesla Inc's Model Y has seen a significant surge in registrations in the US, with twice as many SUVs registered in the first five months of 2023 compared to the same period last year. This has contributed to the growth of the EV market, with EVs accounting for 7% of new car registrations, up from 4.6% the previous year. The average price of EVs has dropped 20% within a year, aligning with Tesla's strategy to increase the number of vehicles on the road.

Portfolio Pulse from Benzinga EV Insights

July 12, 2023 | 10:10 pm

META

Meta Platforms Inc's stock price hit the $300 resistance level for the first time since February 2022, marking a significant milestone. The stock has seen a 143% increase in 2023, largely due to successful initiatives and the popularity of their new app, Threads, which gained 100 million users in just 5 days. The future of the stock depends on whether it can break through the $300 resistance level.

Portfolio Pulse from Zaheer Anwari

July 12, 2023 | 9:56 pm

MSFT

SPY

The launch of OpenAI's ChatGPT chatbot and subsequent $10 billion investment by Microsoft Corp (NASDAQ:MSFT) led to increased valuations for AI stocks, particularly C3.ai Inc (NYSE:AI). C3.ai, a leading enterprise AI software provider, reported $266.8 million in revenue in the last fiscal year and is projected to hit profitability by the end of fiscal year 2024. A $1,000 investment in C3.ai shares the day after ChatGPT went live would be worth $3,114.48 today, outperforming both Microsoft and the SPDR S&P 500 ETF Trust (NYSE:SPY).

Portfolio Pulse from Chris Katje

July 12, 2023 | 9:54 pm

AMST

CENN

DXYN

EJH

GROV

JOAN

JXJT

MULN

NEGG

PIK

TBLT

VLCN

In Wednesday's after-market session, several consumer discretionary stocks saw significant movement. Mullen Automotive (MULN), Kidpik (PIK), Dixie Gr (DXYN), Newegg Commerce (NEGG), Volcon (VLCN), and ToughBuilt Industries (TBLT) all saw gains, while JX Luxventure (JXJT), Grove Collaborative Hldgs (GROV), Amesite (AMST), Cenntro Electric Gr (CENN), E-Home Household Service (EJH), and JOANN (JOAN) experienced losses.

Portfolio Pulse from Benzinga Insights

July 12, 2023 | 9:38 pm