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BITDIGITAL

CORE

HIVE

HUT

TERAWULF

Bitcoin miners are adopting artificial intelligence (AI) to counter the revenue dip expected from the recent halving event, which reduced the reward for mining new blocks. Companies like Core Scientific are investing in AI and new mining rigs to create alternative revenue streams. The industry anticipates a shift towards AI in locations with secure energy sources, with companies such as BitDigital, Hive, Hut 8, Terawulf, and Core Scientific leading the way. The halving has also led to a decrease in Bitcoin transaction fees to a five-year low, despite reducing miners' revenue by 50%.

Portfolio Pulse from Benzinga Neuro

April 22, 2024 | 4:50 am

TSLA

Elon Musk, CEO of Tesla Inc (NASDAQ:TSLA), addressed the debate over Tesla's pricing strategy on X, emphasizing that Tesla's vehicle prices change frequently to match production with demand. He criticized the reliance on MSRP as the real price, highlighting that price adjustments are common in the auto industry. This comes as Tesla made significant price cuts in China and the U.S. for its electric vehicles and Full Self-Driving (FSD) feature, responding to market competition and preparing for the FSD launch in China. Tesla is also approaching its Q1 earnings report amidst recent layoffs affecting stock performance.

Portfolio Pulse from Benzinga Neuro

April 22, 2024 | 2:06 am

BTCUSD

Ali Martinez, a renowned crypto analyst, highlighted a potential 67% gain in Bitcoin as its Market Value to Realized Value (MVRV) ratio falls below its 90-day average, signaling a prime buying opportunity. This trend, observed since November 2022, aligns with the recent drop in Bitcoin transaction fees and the market's response to the latest Bitcoin halving event. Bitcoin's price stands at $64,916, with a slight decrease over the past 24 hours but a significant increase since the year's start.

Portfolio Pulse from Benzinga Neuro

April 22, 2024 | 1:21 am

ALB

ANET

ARM

ASML

BRKR

COIN

EFX

JBHT

LYV

MSTR

PLD

TSLA

Last week saw significant declines in several large-cap stocks, with Arm Holdings plc and ASML Holding N.V. leading the downturn due to poor quarterly results and downgrades. Other notable declines were seen in MicroStrategy Inc, Coinbase Global Inc, Prologis, Inc., Tesla Inc, Equifax Inc., Bruker Corp, Live Nation Entertainment, Inc., Arista Networks Inc., J.B. Hunt Transport Services, Inc., and Albemarle Corp, attributed to various factors including market volatility, poor earnings, and regulatory concerns.

Portfolio Pulse from Mohit Manghnani

April 22, 2024 | 12:32 am

BSY

ELV

GPC

PGR

UAL

UNH

Last week saw significant gains for seven large-cap stocks, with United Airlines leading at a 21.79% surge after surpassing Q1 earnings expectations. UnitedHealth, Genuine Parts, Bentley Systems, Elevance Health, Progressive Corp, and Morgan Stanley also reported strong performances due to various positive financial results and strategic moves.

Portfolio Pulse from Lekha Gupta

April 21, 2024 | 10:14 pm

TSLA

Tesla, Inc. (NASDAQ:TSLA) implemented global price cuts for its electric vehicles, prompting criticism from Future Fund's co-founder, Gary Black, who regrets not selling the firm's entire Tesla position. Black criticized the price cuts' effectiveness, Tesla's strategy, and the unrealistic expectations of Tesla bulls. He adjusted his Tesla earnings estimate and price target downwards due to the price cuts, estimating a significant annual revenue and earnings per share impact. Tesla's stock price fell to its lowest level since late-January 2023.

Portfolio Pulse from Shanthi Rexaline

April 21, 2024 | 10:10 pm

GOOGL

META

MSFT

QQQ

SPY

TSLA

The upcoming week's earnings reports from major companies like Tesla, Meta Platforms, Microsoft, and Alphabet are highly anticipated as they could influence the market's direction. FactSet's report indicates that S&P 500 companies' earnings surprises are at or above their 10-year averages, despite a slight decline in the combined earnings per share growth rate. The focus shifts to tech companies, with 158 S&P 500 companies, including 11 Dow 30 components, expected to release their earnings. Tesla is expected to report a downbeat quarter, while Microsoft, Alphabet, and Meta are anticipated to report strong results. The SPDR S&P 500 ETF Trust (SPY) and the Invesco QQQ Trust (QQQ) have seen declines from their all-time highs.

Portfolio Pulse from Shanthi Rexaline

April 21, 2024 | 9:45 pm

BTCUSD

ETHUSD

Bitcoin (BTC) transaction fees have hit a five-year low, as reported by CryptoQuant analyst Julio Moreno. This decrease follows a period of increased fees after the Bitcoin halving event and the introduction of the Runes token standard, which initially drove up transaction costs. Despite the high activity associated with Runes, including a transaction that incurred over $500,000 in fees, the average daily transaction fee on the Bitcoin network has significantly dropped. This reduction in fees is notable, especially in the context of the halving, which decreased block rewards for miners. Unlike Ethereum (ETH), which has implemented upgrades like the Dencun upgrade to lower transaction fees, Bitcoin has no immediate plans for similar changes.

Portfolio Pulse from Bibhu Pattnaik

April 21, 2024 | 8:53 pm

KMCM

LOAR

MFI

MRX

RAN

RBRK

YYGH

The upcoming week will see several companies launching their initial public offerings (IPOs), including Loar Holdings Inc (LOAR), Key Mining Corp (KMCM), RUBRIK, INC (RBRK), Marex Group plc (MRX), RanMarine Technology B.V. (RAN), YY Group Holding Limited (YYGH), and mF INTERNATIONAL LIMITED (MFI). These companies are set to trade publicly with specified price bands and shares offered, all having a 180-day insider lock-up period.

Portfolio Pulse from Benzinga Insights

April 21, 2024 | 6:07 pm

AAPL

Bloomberg's Mark Gurman suggests Apple Inc. (AAPL) should lower iPhone prices to address slowing sales and challenges in China, including a ban on foreign brands and consumer preference for local technology. After a 13% drop in China sales, Apple faces pressure to attract new users and encourage upgrades. Gurman proposes a cheaper iPhone model to penetrate emerging markets, despite concerns about diluting Apple's premium brand. Apple plans to upgrade the iPhone SE in 2025 with a potential price above $400, but Gurman recommends a $250 price point for significant impact.

Portfolio Pulse from Shanthi Rexaline

April 21, 2024 | 4:36 pm