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U.S. stocks were lower on Monday, with significant movements in several companies. Tesla's shares fell 5.4% due to a reported decline in China sales. Other notable movements include Avidity Biosciences dropping 16.6% after announcing trial data, New York Community Bancorp declining 13.6% due to identified material weaknesses, and Spirit Airlines dipping 12.1% after terminating its merger with JetBlue. Various other stocks also recorded losses.

Portfolio Pulse from Avi Kapoor

March 04, 2024 | 3:40 pm

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FCUUF

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NXE

SRUUF

The uranium mining industry is witnessing a resurgence due to rising nuclear fuel prices, driven by increased interest in nuclear energy as a solution to climate change. This has led to the revival of old mines and a flurry of mergers and acquisitions in the sector. Companies like Cameco and Denison Mines are ramping up production in Canada, while NexGen Energy, 92 Energy, IsoEnergy, and Fission Uranium Corporation are engaging in significant financial activities to expand their operations. The U.S. is also seeing a revival in uranium production amid geopolitical tensions affecting uranium imports from Kazakhstan.

Portfolio Pulse from Stjepan Kalinic

March 04, 2024 | 3:39 pm

TSLA

Tesla shares are trading lower following reports of a decline in the company's sales in China for the month of February.

Portfolio Pulse from Benzinga Newsdesk

March 04, 2024 | 3:33 pm

CMG

Chipotle Mexican Grill's (NYSE:CMG) short interest has decreased by 17.51% since the last report, with 669 thousand shares sold short, representing 2.45% of its float. This decrease in short interest could indicate a more bullish sentiment towards CMG among traders. Compared to its peers, CMG has a lower short interest percentage of float, with an average of 8.99% among its peers.

Portfolio Pulse from Benzinga Insights

March 04, 2024 | 3:30 pm

23andMe Holding (NYSE:ME) has seen a 13.54% increase in short interest since its last report, with 31.01 million shares sold short, representing 10.23% of its float. The current short interest suggests a bearish market sentiment, but it's also higher than the peer group average of 6.94%, indicating more bearish sentiment towards ME compared to its peers. The article suggests that while increased short interest can be a bearish signal, it can also present bullish opportunities under certain conditions.

Portfolio Pulse from Benzinga Insights

March 04, 2024 | 3:30 pm

TTEK

Tetra Tech (NYSE:TTEK) has seen a decrease in short interest, with the short percent of float falling 9.05% since the last report, now at 2.01% of all shares available for trading. This indicates a potential shift in market sentiment towards the stock, as a decrease in short interest can signal increased bullishness among investors. Tetra Tech's short interest is also lower than its peer group average of 2.94%, suggesting it may be performing better than its peers in this aspect.

Portfolio Pulse from Benzinga Insights

March 04, 2024 | 3:30 pm

FXI

China's top insurers have raised concerns about the debt risks associated with China Vanke Co., a major property developer, as its shares and bonds reach record lows due to repayment worries. Insurers have advised annuity managers to closely monitor Vanke's credit risks, and Vanke is in discussions with some insurers to extend its private debt.

Portfolio Pulse from Benzinga Newsdesk

March 04, 2024 | 3:29 pm

PHUN

Trading of Phunware shares has resumed, indicating a return to normal market operations for the company.

Portfolio Pulse from Benzinga Newsdesk

March 04, 2024 | 3:28 pm

VST

Vistra's stock (VST) is trading higher following BMO Capital's decision to maintain an Outperform rating and increase the price target from $52 to $60.

Portfolio Pulse from Benzinga Newsdesk

March 04, 2024 | 3:27 pm

FUFU

BitFuFu Inc (NASDAQ:FUFU) shares soared following its business combination with Arisz Acquisition Corp and Nasdaq listing. The merger included $74 million in financing from shareholders like Bitmain and AntPool. BitFuFu reported significant revenue growth, from $100,000 in 2020 to $134.2 million in H1 2023, and manages 131,000 miners. The rise in Bitcoin prices also likely contributed to the stock's surge. BitFuFu's trading volume exceeded 3.9 million, significantly higher than its average.

Portfolio Pulse from Adam Eckert

March 04, 2024 | 3:26 pm