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ARVL

Electric vehicle manufacturer Arrival SA (NASDAQ:ARVL) is reportedly close to bankruptcy and in talks with EY for potential administration. The company's shares have dropped nearly 96% over the past year. Arrival ended the first half of 2023 with $43 million in cash and a loss of $155.7 million. The company's market cap is now around $21 million, down from a valuation of $5.4 billion at its public debut in March 2021 through a SPAC merger. Shares closed at $0.92, down nearly 20% on Monday.

Portfolio Pulse from Anan Ashraf

January 23, 2024 | 4:48 am

ARKB

ARKW

BITO

META

MSFT

Ark Invest, led by Cathie Wood, sold 648,091 units of ProShares Bitcoin Strategy ETF (BITO) worth $12.6 million and bought 523,541 units of ARK 21Shares Bitcoin ETF (ARKB) valued at $21.04 million through ARK Next Generation Internet ETF (ARKW). The firm also bought shares of Meta Platforms Inc (META) and sold shares of Microsoft Corp (MSFT). These trades occurred amid a volatile crypto market, with Bitcoin (BTC) briefly dropping below $40,000.

Portfolio Pulse from Benzinga Neuro

January 23, 2024 | 4:19 am

BITO

GBTC

HODL

Peter Schiff criticized Bitcoin ETFs, highlighting their significant declines since launch. He specifically mentioned the Vaneck Bitcoin Trust ($HODL), suggesting a symbol change to $GTFO, and the ProShares Bitcoin Strategy ETF ($BITO), which has lost over 50% since its inception. Additionally, the FTX estate sold a large portion of its Grayscale Bitcoin Trust (GBTC) holdings, contributing to over $700 million in Bitcoin sales since January 11.

Portfolio Pulse from Mehab Qureshi

January 23, 2024 | 4:03 am

AAPL

Gene Munster of Deepwater Asset Management predicts that Apple Inc.'s (NASDAQ:AAPL) Vision Pro mixed-reality headset will take two years to reach one million unit sales, a slower pace compared to the iPhone's initial sales. Despite higher revenue from the Vision Pro's opening weekend, estimated at $555 million from 150,000 units, Munster suggests that the adoption rate will be gradual. Analyst Ming-Chi Kuo's estimates align with Munster's, noting potential tapering demand post-launch. The high price of the Vision Pro at $3,499 may hinder rapid adoption, contrasting with Apple's strategic shift towards wearable technology.

Portfolio Pulse from Ananya Gairola

January 23, 2024 | 3:24 am

FBTC

GBTC

IBIT

Major cryptocurrencies Bitcoin, Ethereum, and Dogecoin experienced declines amid rising outflows from Grayscale's GBTC. BlackRock's IBIT and Fidelity's FBTC spot Bitcoin ETFs attracted over $1 billion in AUM each, post-launch. FTX offloaded its entire GBTC stake valued at nearly $1 billion. The global cryptocurrency market cap decreased by 1.59%. The S&P 500 and Nasdaq Composite hit record highs. Analysts predict Ethereum may outperform Bitcoin, and Bitcoin's price movements are influenced by ETF flows around the US market open.

Portfolio Pulse from Mehab Qureshi

January 23, 2024 | 3:03 am

LLY

TSLA

Jim Cramer, host of CNBC's 'Mad Money,' suggested that Tesla Inc (TSLA) could be replaced by Eli Lilly and Co (LLY) in the 'Magnificent Seven' list of mega-cap stocks due to Tesla's recent underperformance and Eli Lilly's strong market position. Tesla's stock has fallen by 16% in 2024, while Eli Lilly has surged to record highs and could potentially become the first drug maker to reach a $1 trillion valuation.

Portfolio Pulse from Benzinga Neuro

January 23, 2024 | 3:02 am

ADM

DWAC

NFLX

TSLA

UAL

Stocks of Digital World Acquisition Corp (DWAC), Netflix (NFLX), United Airlines (UAL), Archer-Daniels-Midland (ADM), and Tesla (TSLA) were in focus. DWAC surged 88.36% after an endorsement of Trump by Florida's Governor. Netflix saw a modest gain ahead of its Q4 earnings report. United Airlines dipped slightly despite positive Q4 results. ADM shares fell 24.20% amid an accounting investigation. Tesla's stock decreased by 1.60% following Jim Cramer's suggestion to remove it from the 'Magnificent Seven' index.

Portfolio Pulse from Benzinga Neuro

January 23, 2024 | 2:07 am

AAPL

GOOG

GOOGL

MASI

SSNLF

Samsung Electronics Co. is entering the health tech sector with noninvasive glucose and continuous blood pressure monitoring technology, challenging Apple Inc. and other tech giants. Samsung plans to integrate health features into various devices, including the Galaxy Ring. The company is also enhancing its blood pressure features and exploring new sensors for earbuds. Apple, facing an IP dispute with Masimo Corporation, had to remove the blood oxygen feature from its latest Apple Watch models in the U.S. This intensifies the competition between Samsung and Apple, who recently surpassed Samsung in global smartphone shipments.

Portfolio Pulse from Ananya Gairola

January 23, 2024 | 1:47 am

DTSS

Trading on DTSS has been halted at 7:50:00 p.m. ET due to pending news. The halt is in place to manage market orderliness and ensure fair information dissemination pending a significant announcement.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 12:50 am

DKNG

Former President Donald Trump is predicted to win the New Hampshire GOP primary with a 98% chance according to Polymarket, a cryptocurrency prediction market. Trump's strong position comes after winning the Iowa caucus and the withdrawal of candidates Ron DeSantis and Vivek Ramaswamy, who have since endorsed Trump. Nikki Haley remains in the race, but her odds are significantly lower. The New Hampshire primary betting has attracted over $4 million in wagers. DraftKings Inc's CEO expressed interest in political betting, which remains illegal in the U.S. The 2024 presidential election betting has reached $14.6 million, with Trump leading over Joe Biden.

Portfolio Pulse from Chris Katje

January 23, 2024 | 12:24 am