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WNNR

Shares of Andretti Acquisition Corp. were halted due to a circuit breaker triggered by a significant upside movement, with the stock now up by 50.4%. The halt is a mechanism to prevent excessive volatility and ensure orderly market conduct.

Portfolio Pulse from Benzinga Newsdesk

March 28, 2024 | 2:47 pm

MSTR

Kerrisdale Capital has taken a short position on MicroStrategy Inc (MSTR), citing an unjustifiable premium over its bitcoin holdings. Despite being bullish on bitcoin, Kerrisdale argues that MicroStrategy's stock rally, over 200% since the year's start due to the crypto boom, is overextended. They believe MicroStrategy's current valuation implies a bitcoin price of $177,000 to be justified. The firm points out that MicroStrategy's software analytics business represents only 3% of its value, and its bitcoin per share has remained unchanged despite increased holdings.

Portfolio Pulse from Adam Eckert

March 28, 2024 | 2:47 pm

F

Recent options trading trends for Ford Motor (NYSE: F) show a bearish stance by investors, with 77% of detected trades being bearish. The trading volume and open interest analysis suggest a price window of $12.82 to $29.82 for Ford. Notable options activity includes both bearish and bullish sentiments, with a significant portion of the trades being puts. Ford's current stock price is $13.06, with an RSI indicating it may be approaching overbought. An analyst from Piper Sandler has downgraded Ford to Neutral with a price target of $13.

Portfolio Pulse from Benzinga Insights

March 28, 2024 | 2:46 pm

MA

Significant investors have shown a bullish sentiment towards Mastercard (NYSE:MA), with options data revealing a mix of bullish and bearish positions. Benzinga's options scanner identified 10 transactions, with a majority being bullish. The trading activity suggests a target price range of $410 to $490 for Mastercard in the next three months. Mastercard, a leading payment processor, is currently trading at $475.56, with analysts giving an average target price of $523.75.

Portfolio Pulse from Benzinga Insights

March 28, 2024 | 2:46 pm

FCX

Traders are closely watching Freeport-McMoRan (FCX) as its shares experience increased volume following a report that Investor Business Daily's SwingTrader has purchased the stock. This development has caught the attention of the market, indicating a potential shift in investor sentiment towards FCX.

Portfolio Pulse from Benzinga Newsdesk

March 28, 2024 | 2:42 pm

FXI

TSLA

Xiaomi has received over 20,000 orders within the first 7 minutes of unveiling its electric vehicle (EV), indicating strong market interest.

Portfolio Pulse from Benzinga Newsdesk

March 28, 2024 | 2:38 pm

UBXG

Trading for the IPO security UBXG was halted but has now resumed as of 10:35:00 AM ET.

Portfolio Pulse from Benzinga Newsdesk

March 28, 2024 | 2:35 pm

BRZE

Braze shares are trading lower following the company's announcement of softer than expected earnings per share (EPS) guidance for the first quarter and the full fiscal year 2025.

Portfolio Pulse from Benzinga Newsdesk

March 28, 2024 | 2:34 pm

SMTC

Semtech Corporation (NASDAQ:SMTC) is anticipated to report a Q4 loss of 3 cents per share, contrasting with a profit of 47 cents per share in the same quarter last year. Despite the expected loss, revenue is projected to increase to $196.46 million from $167.51 million year-over-year. Following better-than-expected Q3 earnings, Semtech's shares rose 10.7% to close at $27.86. Analysts from Baird, Susquehanna, Stifel, Needham, and Benchmark have recently updated their ratings and price targets for Semtech, with most maintaining positive outlooks.

Portfolio Pulse from Avi Kapoor

March 28, 2024 | 2:32 pm

AVTX

BDRX

GMDA

KOD

PMEC

XLO

U.S. stocks showed mixed performance with the Dow Jones slightly down, NASDAQ falling, and S&P 500 gaining. Avalo Therapeutics surged 435% after acquiring a Phase 2-ready anti-IL-1β mAb and announcing a significant private placement financing. Xilio Therapeutics soared 154% following an exclusive license agreement with Gilead Sciences. Biodexa Pharmaceuticals also saw a significant rise after promising results against brain cancers. Conversely, Primech Holdings, Gamida Cell, and Kodiak Sciences experienced notable declines. U.S. initial jobless claims dropped to 210,000, and the U.S. economy grew by 3.4% in Q4.

Portfolio Pulse from Avi Kapoor

March 28, 2024 | 2:32 pm