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DECK

PLTR

SMCI

WHR

ZION

In the latest S&P 500 quarterly rebalance, Super Micro Computer, Inc. (SMCI) and Deckers Outdoor Corp. (DECK) were added to the index, replacing Whirlpool Corporation (WHR) and Zions Bancorporation (ZION), respectively. Palantir Technologies, Inc. (PLTR) was notably excluded from the S&P 500, disappointing investors. Following the announcement, SMCI and DECK saw significant after-hours trading gains, while PLTR experienced a decline.

Portfolio Pulse from Shanthi Rexaline

March 02, 2024 | 4:39 pm

BTCUSD

MSTR

Bill Miller IV, CIO at Miller Value Partners, views Bitcoin's recent run as the early stages of a significant capital repricing event, with MicroStrategy being their largest holding due to its substantial Bitcoin investments. Miller highlighted the conversion of $500 billion of fiat currency into Bitcoin, leading to average unrealized gains of 150% for holders. He praised MicroStrategy's executive chairman, Michael Saylor, for his strategic Bitcoin holdings. This outlook aligns with the firm's goal to outperform the market, viewing Bitcoin as a maturing asset amidst record ETF inflows and increasing U.S. national debt.

Portfolio Pulse from Ivan Crnogatić

March 02, 2024 | 4:29 pm

RIVN

TSLA

VWAGY

Rivian Automotive (NASDAQ:RIVN) reported Q4 financial results, highlighting 2023 milestones and a 2024 production goal of 57,000 vehicles. The introduction of leasing for its R1S SUV, which was the fifth bestselling EV in the U.S. for Q4, could significantly boost sales. Electric vehicles' market share of new retail sales in the U.S. reached 8.55% in Q4, with a record 30.7% of new EVs leased in 2023. Rivian's R1S had the lowest leasing percentage among the top five EVs, suggesting room for growth with its new leasing option.

Portfolio Pulse from Chris Katje

March 02, 2024 | 4:24 pm

AAPL

FSR

GOEV

KARS

TSLA

Electric vehicle stocks saw gains, with Tesla closing above $200 for the first time since mid-February. Key events included Tesla's Roadster update and Model Y price cut reversion, Apple shelving its self-driving car project, Fisker seeking partnerships to stay afloat, Biden's administration blocking Chinese EVs due to security risks, and Canoo's shareholder approval for a reverse stock split. The KraneShares Electric Vehicles ETF also saw a weekly increase.

Portfolio Pulse from Shanthi Rexaline

March 02, 2024 | 2:21 pm

BTCUSD

DOGEUSD

ETHUSD

SHIBUSD

Shiba Inu (SHIB) experienced a 70% surge in value after a transfer of 3 trillion tokens to a wallet named after Robinhood, outperforming Bitcoin (BTC), Ethereum (ETH), and Dogecoin (DOGE) in price performance. The transfer, detected by Whale Alert, contributed to SHIB's climb to the 11th position in global market capitalization, with a valuation over $12.8 billion. Notable on-chain activities and purchases by significant entities like MakerDAO's co-founder and an Upbit-named wallet have also fueled SHIB's ascent.

Portfolio Pulse from Bibhu Pattnaik

March 02, 2024 | 2:09 pm

AAPL

CVNA

DIS

GOOG

Benzinga's weekly review highlights market movements, with the Nasdaq and S&P 500 seeing gains, while the Dow slightly declined. Bitcoin surpassed $60,000, anticipating the halving event. Bullish views include Ackman's confidence in Alphabet for its AI and advertising, optimistic forecasts for Dogecoin and Shiba Inu, and predictions of Bitcoin reaching $200,000. Bearish perspectives involve Goldman Sachs removing Apple from its Conviction List, criticism of Disney by Gov. DeSantis, and a short report on Carvana questioning its valuation.

Portfolio Pulse from Michael Cohen

March 02, 2024 | 2:02 pm

DELL

Jim Cramer praised Dell Technologies, Inc. (NYSE:DELL) CEO Michael Dell for advancing AI, following impressive Q4 results. Dell's earnings and sales exceeded expectations, with significant growth in AI-optimized servers. The company's stock rose 31.24% after the announcement and Cramer's comments.

Portfolio Pulse from Ananya Gairola

March 02, 2024 | 11:36 am

BTCUSD

Analysts caution against joining the Bitcoin rally late, citing overbought conditions with a 14-day RSI at 88. Despite a 40% increase in four weeks, they advise caution for short-term traders using leveraged products. However, the long-term outlook remains bullish, with predictions of reaching up to $180,000 by September 2025.

Portfolio Pulse from Rounak Jain

March 02, 2024 | 11:01 am

BTCUSD

Balaji Srinivasan, former Coinbase CTO, views Bitcoin (BTC) as a 'political revolution' that could disrupt global power structures, including the U.S. dollar's dominance. He believes Bitcoin empowers individuals against governmental impositions and predicts significant geopolitical and economic implications. Despite closing a $1 million bet on Bitcoin reaching $1 million prematurely, Srinivasan remains bullish, highlighting Bitcoin's recent 44% rally and potential for further gains. Analysts predict Bitcoin could hit new highs, with targets ranging from $83,000 to $180,000.

Portfolio Pulse from Rounak Jain

March 02, 2024 | 10:18 am

BYDDF

BYDDY

BYD Co Ltd, backed by Warren Buffett's Berkshire Hathaway, reported a 37% year-over-year drop in sales volume for February 2024, selling 122,311 new energy vehicles. This marks a significant change as BYD had been experiencing sales growth throughout 2023 and even in January 2024. The company, which ceased production of oil-fueled vehicles in April 2022, sold 54,908 battery electric vehicles (BEVs) in February, nearly 39% lower than the previous year and 48% down from January 2024. In Q4 2023, BYD surpassed Tesla as the biggest BEV seller.

Portfolio Pulse from Anan Ashraf

March 02, 2024 | 8:28 am