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Stock Prices

CHPT

ChargePoint Holdings, Inc. (NYSE:CHPT) shares are trading slightly lower today, following a report by Needham analyst Chris Pierce on industry pressures. Despite EV sales growth outpacing EVSE growth, increased charger utilization hasn't spurred EVSE installations. CHPT has lost over 80% in value over the past year but has recently formed partnerships with Jumptech and AcBel Polytech to improve home charger installations and develop EV charging solutions.

Portfolio Pulse from Nabaparna Bhattacharya

April 05, 2024 | 4:19 pm

BDSX

GCTS

HUBC

MDIA

STIX

ZGN

U.S. stocks traded higher with the Nasdaq Composite gaining over 200 points. The Dow and S&P 500 also saw increases. Notably, MediaCo Holding Inc. (MDIA) shares surged 207% after a significant stake acquisition by Standard General L.P. GCT Semiconductor Holding, Inc. (GCTS) and HUB Cyber Security Ltd. (HUBC) experienced substantial gains following a development MOU and financing announcement, respectively. Conversely, Semantix, Inc. (STIX), Ermenegildo Zegna N.V. (ZGN), and Biodesix, Inc. (BDSX) saw notable declines. The U.S. labor market outperformed expectations with 303,000 nonfarm payrolls added in March.

Portfolio Pulse from Avi Kapoor

April 05, 2024 | 4:19 pm

AMAT

ASML

AVGO

CRM

DDOG

MDB

NET

NOW

NVDA

Shares of companies in the broader technology sector are experiencing an increase in trading, following a rebound from Thursday's selloff.

Portfolio Pulse from Benzinga Newsdesk

April 05, 2024 | 4:04 pm

NEM

Newmont Corporation's shares are experiencing an uptick due to the increasing strength in the gold market. This movement reflects the company's direct correlation with gold prices, as Newmont is a significant player in the gold mining industry.

Portfolio Pulse from Benzinga Newsdesk

April 05, 2024 | 4:02 pm

RIVN

Rivian Automotive, Inc. (NASDAQ:RIVN) shares dropped 7% since Tuesday following its Q1 production and delivery report, producing 13,980 vehicles and delivering 13,588. Despite reaffirming its 57,000 vehicle production target for 2024, Morgan Stanley lowered its price target from $14 to $13. Rivian is expected to report a Q1 loss of $1.16 per share with $1.13 billion in revenue. The stock hit a 52-week low of $10.03, with 20.89% of shares sold short. Wall Street views Rivian as Neutral, with a significant expected decline.

Portfolio Pulse from Erica Kollmann

April 05, 2024 | 4:01 pm

EBC

Eastern Bankshares (NYSE:EBC) has seen a decrease in short interest, with the short percent of float falling 7.61% to 2.67% of all shares available for trading. The current short interest stands at 4.66 million shares, requiring approximately 2.84 days for traders to cover their short positions. This decline in short interest could indicate a more bullish sentiment towards EBC among investors. Additionally, compared to its peers, EBC has a lower short interest percentage, with the peer group average at 4.99%.

Portfolio Pulse from Benzinga Insights

April 05, 2024 | 4:00 pm

CDNS

Cadence Design Systems (CDNS) has seen a 7.92% increase in its short percent of float since the last report, with 2.65 million shares sold short, representing 1.09% of available shares. This indicates a bearish market sentiment towards CDNS, although it has less short interest compared to its peers' average of 4.21%. The article suggests that an increase in short interest does not necessarily predict a near-term price fall.

Portfolio Pulse from Benzinga Insights

April 05, 2024 | 4:00 pm

ENVX

Enovix Corporation (NYSE:ENVX) has seen a 5.66% increase in its short percent of float since the last report, reaching 26.53% of all shares available for trading. With 38.68 million shares sold short, it would take about 8.1 days for traders to cover their short positions. This rise in short interest indicates a more bearish market sentiment towards ENVX, although it doesn't necessarily predict a near-term price drop. Compared to its peers, ENVX has a significantly higher short interest, with the peer group average at 10.02%.

Portfolio Pulse from Benzinga Insights

April 05, 2024 | 4:00 pm

XXII

22nd Century Group Inc (NASDAQ:XXII) stock surged 45% to $2.15 after announcing a new contract manufacturing agreement for conventional cigarette products, expected to increase carton production volumes by over 20% and start generating revenue in Q2 2024. The deal is seen as a significant step towards expanding the company's contract manufacturing business in North Carolina and advancing its VLN® franchise, with aims for revenue scaling, margin improvement, and breakeven operations by Q1 2025.

Portfolio Pulse from Henry Khederian

April 05, 2024 | 3:59 pm

IEF

QQQ

SPY

TLT

UUP

March's U.S. labor market report showed a significant surge in nonfarm payrolls, adding 303,000 jobs and surpassing expectations. This robust growth, alongside a slight decrease in the unemployment rate to 3.8%, has dampened hopes for Federal Reserve rate cuts, with economists highlighting the implications for policy and market reactions. Treasury yields rose, and certain ETFs experienced movements: TLT and IEF fell, while SPY, QQQ, and UUP gained.

Portfolio Pulse from Surbhi Jain

April 05, 2024 | 3:55 pm