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MAPS

Zuanic & Associates initiated coverage on WM Technology (NASDAQ:MAPS), a leading online cannabis marketplace, with a Neutral rating. They highlight MAPS' undervaluation at 0.6x sales compared to peers and its potential in the cannabis sector with a market cap of $142 million. The report details MAPS' enterprise value, growth prospects, strategic shifts, and outlines bull and bear scenarios. The bull scenario involves leveraging market position for growth, while the bear scenario includes risks of market saturation and strategic missteps.

Portfolio Pulse from Nicolás Jose Rodriguez

January 14, 2024 | 4:00 pm

MSTR

Michael Saylor, co-founder of MicroStrategy Inc. (NASDAQ:MSTR), sold between 3,882 and 5,000 shares of the company, netting over $20 million, ahead of the SEC's approval of Bitcoin ETFs. This marks his first share sale in nearly 12 years, which is part of a pre-existing plan to potentially sell up to 400,000 shares by April 26. MicroStrategy's stock has declined by 23% since the year's start, partly due to the introduction of Bitcoin ETFs potentially making its shares less attractive as a Bitcoin proxy. The company's Bitcoin holdings are currently valued at around $8.3 billion, a 40% paper gain.

Portfolio Pulse from Bibhu Pattnaik

January 14, 2024 | 3:01 pm

BTCUSD

Crypto analyst il Capo Of Crypto predicts a short-term rise in Bitcoin's value to around $50,000, followed by a sideways movement and then a significant decline to the $30,000 level. This forecast is based on the Elliott Wave theory and recent market trends. Bitcoin was trading at $42,828.90, experiencing a 3% decrease over the past week. The analyst also noted a potential recovery above $33,000 after finding support between $30,000 and $31,000.

Portfolio Pulse from Bibhu Pattnaik

January 14, 2024 | 2:21 pm

ARKK

ARKW

TSLA

Ark Invest, led by Cathie Wood, has continued to invest in Tesla, Inc. (TSLA), purchasing a total of $50 million worth of shares over two consecutive days despite a 12% decline in Tesla's stock price in 2024. The purchases were made through Ark Innovation ETF (ARKK) and Ark Next Generation Internet ETF (ARKW). Tesla's stock has been under pressure due to a sell-off in tech stocks and recent price cuts in China. Investors are awaiting Tesla's Q4 earnings report on January 24, with a focus on core auto gross margin and 2024 delivery guidance.

Portfolio Pulse from Shanthi Rexaline

January 13, 2024 | 5:00 pm

ARKB

COIN

Ark Invest CEO Cathie Wood predicts Bitcoin could reach $1.5 million by 2030. Ark Invest's ARK 21 Shares Bitcoin ETF (ARKB) was approved by the SEC, potentially boosting Bitcoin's value. Coinbase Global (COIN), a major holding in Ark ETFs, could benefit from increased Bitcoin demand. A $1,000 investment in Bitcoin could yield returns from 494.7% to 3,304.0% by 2030 based on Ark's price targets.

Portfolio Pulse from Chris Katje

January 13, 2024 | 3:27 pm

AAPL

BABA

BAC

JPM

MSFT

WFC

Major indexes ended higher last week, with the S&P 500, Nasdaq, and Dow seeing gains. Inflation rose to 3.4% YoY in December, potentially affecting markets and Fed policies. JPMorgan Chase reported strong earnings, while Bank of America saw revenue decline, Wells Fargo's profits increased, and Citigroup announced job cuts. The SEC approved spot Bitcoin ETFs. Microsoft overtook Apple as the most valuable company, Tesla's sales growth outpaced legacy automakers, and Cathie Wood disclosed a significant personal investment in Bitcoin. Alibaba faced scrutiny from Congresswoman Laurel Lee's stock sale, Solana's price dropped, and Boeing dealt with a 737 MAX 9 incident.

Portfolio Pulse from Michael Cohen

January 13, 2024 | 3:03 pm

ARKK

BLK

GBTC

The SEC has approved spot Bitcoin ETFs from 11 issuers including Grayscale, Ark Investment, BlackRock, VanEck, Wisdom Tree, Fidelity, Invesco Franklin, Hashdex, and Valkyrie. Grayscale's GBTC is now listed on NYSE. The approval is seen as a victory for crypto, with Bitcoin's value surging at the end of 2023. Jesper Toft of GSU Protocol suggests the SEC's actions aim to protect USD dominance, while GSU offers a stable alternative. The EU's MiCA regulations are seen as protective of banks. Crypto's future as a viable alternative to fiat currencies like USD is discussed.

Portfolio Pulse from Justin Roberti

January 13, 2024 | 2:26 pm

GOEV

HMC

HTZ

KARS

LCID

TSLA

XPEV

Electric vehicle stocks, including Tesla, Lucid Group, and XPeng, faced declines amid investor concerns over Tesla's price cuts in China and a bearish EV market. Tesla's refreshed Model 3 launched in North America, but price reductions in China may lead to lower earnings estimates. Hertz plans to sell a portion of its EV fleet to reinvest in ICE vehicles, reversing its previous EV-focused strategy. Lucid reported lower Q4 production and deliveries year-over-year. XPeng showcased a flying car at CES 2024 and plans to open pre-orders in Q4. Canoo acquired manufacturing assets at a discount but saw its stock fall. Honda unveiled '0' series concept EVs at CES with a potential North American launch in 2026. The KraneShares Electric Vehicles and Future Mobility Index ETF (KARS) also dropped.

Portfolio Pulse from Shanthi Rexaline

January 13, 2024 | 2:03 pm

BLK

TSLA

The past week in the cryptocurrency market saw Anthony Scaramucci expressing bullishness on Bitcoin ETFs, the SEC's Twitter account being hacked with false Bitcoin ETF approvals, Elon Musk discussing Bitcoin use on X, Cathie Wood revealing her Bitcoin holdings, a surge in crypto prices following Bitcoin ETF approval, and a significant increase in the Shiba Inu token burn rate. BlackRock and Tesla were mentioned in relation to Bitcoin ETF applications and potential Bitcoin use, respectively.

Portfolio Pulse from Benzinga Neuro

January 13, 2024 | 10:17 am

AAPL

ALK

Apple Inc. (AAPL) faced a week of varied developments including a delay in the launch of the next-gen AirTag, board member retirements, security concerns over AirDrop, and an iPhone surviving a 16,000-foot drop. The AirTag's second-gen launch is postponed to 2025 due to overstock. Al Gore and James Bell retired from the board, with Wanda Austin proposed as a new member. Chinese researchers claim to have cracked AirDrop, potentially compromising user security. An iPhone fell from an Alaska Air Group (ALK) flight and survived. The ITC rejected Apple's plea to suspend an import ban on certain Apple Watch models.

Portfolio Pulse from Benzinga Neuro

January 13, 2024 | 9:56 am