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TSLA

Tesla Inc (NASDAQ:TSLA) has halved the price of its 'full self-driving' (FSD) subscription to $99 per month, a move that Gene Munster of Deepwater Asset Management believes signals the end of manual driving. This price reduction is part of Tesla's strategy to make its self-driving technology more accessible, amidst a challenging period for the company, including a 10% workforce reduction and a 20% drop in deliveries. Nvidia's Senior Lead of Robotics praised Tesla's FSD feature, while Tesla CEO Elon Musk continues to push boundaries in AI with his venture, xAI.

Portfolio Pulse from Benzinga Neuro

April 16, 2024 | 3:20 am

Morgan Stanley has released a list of top 'alpha' stocks in the Asia-Pacific region, highlighting Hana Financial Group with a 28% upside potential and Novatek Microelectronics for its growth prospects. The selection comes amid global market shifts and warnings of potential corrections, yet the long-term bull rally is expected to continue.

Portfolio Pulse from Benzinga Neuro

April 16, 2024 | 3:12 am

CRM

DJT

RIVN

TSLA

On Monday, U.S. stock indices fell, with DJT, RIVN, GS, CRM, and TSLA being the most watched stocks. DJT plummeted 18.35% after announcing a new stock issuance. RIVN dropped 8%, continuing a 5-day decline. GS rose 2.92% on strong Q1 earnings. CRM fell 7.28% amid acquisition talks with Informatica. TSLA decreased 5.59%, reportedly due to workforce adjustments.

Portfolio Pulse from Benzinga Neuro

April 16, 2024 | 3:07 am

TSLA

Tesla, Inc. (NASDAQ: TSLA) has reportedly put on hold the development of its proposed $25,000 electric vehicle, known as Model 2 or codenamed NV9, according to Electrek. This decision comes amid a round of massive layoffs, including high-profile executives, and a shift in focus towards the self-driving project. CEO Elon Musk had previously emphasized the importance of the low-cost EV and its production at Giga Texas and Giga Mexico, aiming for a second-half of 2025 start. However, the project's defunding and the layoffs of team members involved raise concerns about Tesla's future growth, particularly as the Model 2 vehicle and its sub-$30,000 price point were seen as crucial for driving mass demand globally.

Portfolio Pulse from Shanthi Rexaline

April 16, 2024 | 2:45 am

ARKB

BITB

BRRR

DEFI

GBTC

Cryptocurrency analyst Willy Woo predicts Bitcoin ETFs could drive Bitcoin's price to surpass gold's market cap, with price targets of $91k in bear and $650k in bull markets. The SEC approved Bitcoin ETFs from Grayscale, Bitwise, Hashdex, Valkyrie, and ARK 21Shares. Bitcoin's market cap could rise to $12.8 trillion, exceeding gold's $16.1 trillion cap. Bitcoin ETFs saw $111 billion traded in March, despite a recent 8% price drop and $83M net outflows in spot Bitcoin ETFs.

Portfolio Pulse from Benzinga Neuro

April 16, 2024 | 2:38 am

TSLA

Elon Musk is urged by Wedbush analyst Dan Ives to explain the rationale behind Tesla's decision to lay off 10% of its global workforce, following a quarter with a 20% drop in deliveries. High-ranking executives have left, and Tesla's stock has fallen 35% since the start of the year. Despite these challenges, Wedbush maintains an 'outperform' rating and a $300 price target for Tesla. The layoffs are part of a broader trend in the tech industry and are seen as a cost-cutting measure by Tesla.

Portfolio Pulse from Benzinga Neuro

April 16, 2024 | 2:09 am

BLK

IBIT

Despite BlackRock Inc.'s acceptance of Bitcoin, skepticism remains among finance professionals. Portfolio manager Mike Green criticizes Bitcoin as an 'extractive bubble,' yet Simplify Asset Management launched two Bitcoin-exposed funds. Companies like Vanguard and State Street have not offered Bitcoin ETFs, and Goldman Sachs views Bitcoin as unsuitable for investment portfolios. The Miami event highlighted ongoing doubts about Bitcoin's viability as a reserve currency, despite its recent price surge.

Portfolio Pulse from Benzinga Neuro

April 16, 2024 | 1:49 am

BLOZF

CMPS

IGC

TPB

The cannabis industry is witnessing significant executive changes across various companies, with new CEOs, CFOs, COOs, and board members being appointed. These changes come as the industry prepares for the Benzinga Cannabis Capital Conference in Florida, highlighting the sector's dynamic nature and growth. Notably, U.S.-based cannabis executives' salaries have surpassed the $500,000 mark, indicating the industry's lucrative potential. Companies like Decibel Cannabis, Schwazze, DIZPOT, and others have announced leadership changes, aiming to strengthen their market positions and expand operations.

Portfolio Pulse from Jelena Martinovic

April 16, 2024 | 12:22 am

AGFY

Agrify Corporation (NASDAQ:AGFY), a leader in cannabis cultivation and extraction technologies, reported its first-ever positive quarterly net income for Q4 2023, amounting to $572,000, compared to a net loss of $57.94 million in the same period in 2022. Despite a decrease in annual revenue to $16.9 million from $58.3 million, the company achieved a gross profit of $5.3 million for the year, reversing a gross loss of $31.8 million in 2022. These results reflect Agrify's successful strategic measures for financial stabilization and growth.

Portfolio Pulse from Nicolás Jose Rodriguez

April 16, 2024 | 12:17 am

NCNA

Trading for NCNA was halted at 7:50:00 p.m. ET due to pending news. This action indicates that significant information affecting the company's stock price is about to be released.

Portfolio Pulse from Benzinga Newsdesk

April 15, 2024 | 11:50 pm