Benzinga explored the outlook for many sought-after stocks over the past week. Here’s a roundup of some of our top stories.
The bulls sprinted on Wall Street this week as all three major indices closed higher. The SPDR S&P 500 ETF Trust SPY, soared to historic all-time highs in the final session of the week, a remarkable feat after more than two years since its last peak.
Leading the market rebound this week were major technology stocks, propelled by growing investor enthusiasm driven by advancements in artificial intelligence and robust consumer demand. The Invesco QQQ Trust QQQ, achieved its 11th week of gains in the past 12, setting new record highs and surpassing the 17,000-point mark.
Benzinga delivers daily updates on the most popular stocks among investors. Here are some of the most bullish and bearish posts from the past week worth revisiting.
Bullish Highlights
“Uber, Tesla Team Up To Drive EV Adoption: Khosrowshahi Says Company Remains ‘Totally Committed’ To Electrification Despite Demand Concerns,” by Adam Eckert, reports that Uber Technologies Inc. UBER and Tesla Inc. TSLA are joining forces to accelerate electric vehicle adoption, with Uber CEO Dara Khosrowshahi underscoring the company’s unwavering commitment to electrification.
“Dogecoin Could ‘Blast Off To The Moon,’ Says Crypto Analyst With $5 Price Target,” by Mehab Qureshi, highlights a crypto analyst’s projection of Dogecoin DOGE/USD potentially surging to $5, a 6000% surge, supported by a recent spike in Dogecoin transactions and market indicators.
“Amazon Scores Big With Regional Sports Network Deal: Prime Video To Feature MLB, NBA, NHL Games,” by Chris Katje, details that Amazon.com Inc. AMZN has acquired a minority stake in Diamond Sports Group, expanding its media rights in sports to include streaming MLB, NBA, and NHL games on Prime Video.
For additional upbeat calls from the past week, check out the following:
S&P 500 Shatters Records: The Top-Performing Stocks In January 2024
Nvidia Poised for Continued Dominance in AI Infrastructure, Analysts Forecast Robust Growth
Reddit, Social Media Giant Behind GameStop Saga, Plans $10B March IPO
Bearish Concerns
“Bitcoin Halving Next Major Catalyst After Spot Bitcoin ETF Approvals, But History Shows BTC Could Dip To $34,000 By April,” by Khyathi Dalal, discusses the mixed predictions surrounding the impact of the upcoming Bitcoin BTC/USD halving event in April 2024 on the cryptocurrency’s prices.
“Plug Power Hurtles Toward 4-Year Low After $1B Equity Offering Plans: Why This Analyst Says It’s Unlikely To Woo Back Investors,” by Shanthi Rexaline, reports that Plug Power, Inc. PLUG is heading towards a four-year low following plans for a $1 billion equity offering, amid skepticism from analysts about its potential to attract investors.
“This PayPal Analyst Expects 2024 To Be A ‘Transition Year,’ Foresees Stock Range-Bound Due To Valuation Concerns,” by Surbhi Jain reports that PayPal Holdings Inc. PYPL is anticipated to face a “transition year” in 2024, with stock remaining range-bound due to valuation concerns, according to a BofA analyst.
For more bearish perspectives, be sure to read these posts:
Alibaba and Tencent Lead Massive Investment Cutbacks Among Chinese Tech Giants
Bitcoin Slips Below $41,000 After Jim Cramer’s ‘Far From The Bottom’ Tweet: What Happened To ‘Inverse Cramer’?
Courts Reinstate Ban On Apple Watches With Blood Oxygen Sensors
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