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BLK

IBIT

BlackRock Inc.'s Bitcoin-focused ETF, IBIT, has seen unprecedented growth, becoming the fastest-growing ETF in history with $13.5 billion in assets in just 11 weeks. CEO Larry Fink expressed his surprise at the ETF's success and remains bullish on Bitcoin. Additionally, BlackRock's USD Institutional Digital Liquidity Fund (BUIDL) raised $160 million, with investments from Ondo Finance.

Portfolio Pulse from Mehab Qureshi

March 28, 2024 | 5:51 am

TSLA

Wedbush analyst Daniel Ives maintains an Outperform rating on Tesla (TSLA) but cuts the price target from $315 to $300 ahead of Q1 deliveries update. Citing demand and supply issues, including soft demand in China and production challenges, Ives reduces Q1 delivery estimates from 475,000 to 425,000 units. Despite short-term challenges, Ives remains bullish on Tesla's long-term prospects, emphasizing the importance of Tesla's Full Self-Driving (FSD)/autopilot strategy.

Portfolio Pulse from Shanthi Rexaline

March 28, 2024 | 5:42 am

FSR

Fisker Inc. faced significant operational challenges, including the loss of millions in customer payments due to lax procedures, leading to an internal audit and resource diversion. The company recovered most payments but experienced delays in processing funds and filing its annual financial report for 2023. Fisker announced major price cuts for its 2023 Ocean SUV models amid financial struggles, including a recent delisting from the NYSE and failed investment talks. The company's cash balance significantly decreased, and it reported a substantial net loss for Q4. Despite production efforts, Fisker has a large inventory and initiated a production pause to address issues.

Portfolio Pulse from Anan Ashraf

March 28, 2024 | 5:28 am

JPM

NVDA

JPMorgan Chase & Co's chief global equity strategist, Dubravko Lakos-Bujas, warned of a potential 'out-of-the-blue' stock market shock, citing risks in the current momentum trade and excessive crowding in top-performing stocks. He highlighted NVIDIA Corp (NVDA) and AI innovation as key upside factors but noted increasing risks and the potential for corrections, especially in popular momentum stocks.

Portfolio Pulse from Benzinga Neuro

March 28, 2024 | 4:47 am

BTC-USD

DOGE-USD

ETH-USD

Bitcoin and Ethereum experienced a slight correction, while Dogecoin's surge contributed to pushing the crypto market cap above $2.6 trillion. Over $9.4 billion in Bitcoin options are set to expire soon, with a potential max pain price of $50,000. Spot Bitcoin ETFs saw significant inflows after a period of outflows. The S&P 500 and other major indexes saw gains, indicating a broad market rally. Analysts predict Bitcoin could reach $75,000 to $80,000 before the next halving, with key resistance levels identified.

Portfolio Pulse from Mehab Qureshi

March 28, 2024 | 4:23 am

GME

GS

MSTR

The meme stock phenomenon has resurged, with Reddit and Truth Media experiencing significant share price increases following their IPO and SPAC debut, respectively. Experts suggest three criteria for identifying potential meme stocks: social media influence, emotion-driven investing, and stratospheric valuations. Other stocks like GameStop, Bitcoin, and MicroStrategy have also seen surges. The financial market's strong performance, including a predicted S&P 500 rise, contrasts with the speculative nature of meme stocks.

Portfolio Pulse from Benzinga Neuro

March 28, 2024 | 4:14 am

NKLA

Nikola Corp, in collaboration with Blackjacks Roadhouse and others, unveiled Alberta's first commercial hydrogen fueling station, marking a significant step in developing hydrogen fuel infrastructure. The HYLA station is located in a high-traffic area and is part of Nikola's broader strategy to scale hydrogen-powered vehicles. Despite delivering 35 hydrogen FCEVs in Q4 and producing 138 trucks last year, Nikola reported a gross loss of $214.1 million for the period. The company's shares rose 11.7% following the announcement.

Portfolio Pulse from Anan Ashraf

March 28, 2024 | 4:03 am

IKT

Inhibikase Therapeutics (NASDAQ:IKT) reported a Q4 EPS of $(0.64), surpassing the $(0.85) estimate, marking a 37.25% improvement year-over-year. However, sales plummeted to $1.00K from $63.57K YoY, a 98.43% decrease.

Portfolio Pulse from Happy Mohamed

March 28, 2024 | 3:45 am

MU

NVDA

SSNLF

Goldman Sachs predicts significant growth in the high-bandwidth memory (HBM) chip market, driven by demand for Nvidia's new Blackwell GPU chips. The market is expected to grow tenfold to $23 billion by 2026. SK Hynix, Samsung Electronics, and Micron Technology are identified as primary beneficiaries. This growth comes amid heightened interest in AI, with Nvidia's stock rising due to the AI boom sparked by OpenAI's ChatGPT.

Portfolio Pulse from Benzinga Neuro

March 28, 2024 | 1:58 am

AMZN

Amazon.com Inc. (NASDAQ:AMZN) has made a substantial investment in AI startup Anthropic, totaling $4 billion, marking its largest external investment in 30 years. This investment aims to strengthen Amazon's position in the AI race, leveraging Anthropic's advancements in generative AI and Amazon's infrastructure like AWS Tranium and Amazon Bedrock. Despite this significant investment, Amazon will maintain a minority stake in Anthropic without board representation. The investment comes amid Anthropic's recent controversies and financial transactions, including the sale of a significant stake by bankrupt FTX.

Portfolio Pulse from Ananya Gairola

March 28, 2024 | 1:56 am