Benzinga took a deep dive into the latest buzz surrounding popular stocks. Let’s delve into the highs and lows of this week’s market performance.
This week witnessed minor setbacks, with the S&P 500 dipping by 0.13%, the Dow Jones Industrial Average slightly falling by 0.02%, and the Nasdaq experiencing a 0.7% decrease.
Amidst pre-Federal Reserve meeting inflation reports for February, unexpected price pressures emerged, challenging the belief in a disinflationary trend. This shift has brought uncertainty around future interest rate decisions, creating a divide among industry experts.
Simultaneously, rumors of the DEA contemplating the reclassification of cannabis to Schedule III triggered a substantial rally in cannabis stocks, instilling hope for industry growth.
The Bulls
Author Natan Ponieman’s piece, “Billions Just Hit The Biggest Semiconductor ETF: Are Investors Going All In On AI Chip Boom?,” explored the record $1.6 billion inflow into the VanEck Semiconductor ETF (SMH), underlining strong investor confidence in the semiconductor realm, particularly in AI technology leaders like NVIDIA Corp (NVDA).
In another bullish move, Mehab Qureshi’s article, “Dogecoin To The Moon: Elon Musk Just Broke His Long Silence On DOGE And If Tesla Will Accept It,” revealed Elon Musk’s openness to Tesla Inc. (TSLA) potentially embracing Dogecoin (DOGE/USD), sparking excitement in the cryptocurrency domain.
Furthermore, Anan Ashraf’s piece, “Morgan Stanley Analyst Increasingly Bullish On Elon Musk’s Tesla Optimus Venture As Jeff Bezos, Nvidia, Microsoft Pour $675M In FigureAI,” uncovered a rising optimism among Morgan Stanley analysts regarding Tesla’s Optimus project in light of increased attention and investments in humanoid robotics.
For more insights into the bullish calls from the past week, be sure to explore the following:
• Coinbase CEO’s Solution For Fixing National Debt: ‘You Can Buy Bitcoin..Save The US Long Term’
• Plug Power’s Vision for 2024: Analyst Spotlights Electrolyzer Expansion and Hydrogen Production Efficiency
• Gold Speculators Priming For ‘Multiyear Bull Market In Metals’
The Bears
Reporter Chris Katje detailed in “Lucid In Trademark Spat With Google-Backed Startup For SUV” how Lucid Group Inc (LCID) got embroiled in a trademark conflict over its Gravity SUV with EV charging company Gravity Technologies, supported by Alphabet Inc (GOOG) (GOOGL).
And, “Bitcoin ‘Could Decline To $63,000,’ Says 10x Research Report, While Ethereum Faces Challenges,” by Khyathi Dalal, shed light on a 10x Research analysis anticipating a potential drop in Bitcoin (BTC/USD) to $63,000 and outlined valuation concerns for Ethereum (ETH/USD) amid broader market uncertainties.
Moreover, in “‘Enemy Of the People’: Trump Slams Meta Stock As TikTok Ban Faces Scrutiny,” writer Adam Eckert reported on former President Donald Trump shifting focus from TikTok to scrutinize Meta Platforms Inc (META), alleging gains from TikTok’s potential prohibition and labeling it as the true adversary.
For a deeper dive into the bearish perspectives, delve into the following:
• Economist Anticipates A 1995-Style Fed Cut Cycle As ‘Animal Spirits’ Wreak Havoc Across Bitcoin, Gold, and Other Asset Classes
• Is Nvidia Stock Becoming Too Volatile To Buy? Best-Performing Stock On S&P 500 Tests Investors’ Resilience
• Short-Seller Jim Chanos Questions ‘No-Growth’ IBM’s Alleged Layoff Plans: ‘AI – A Menace and a Boon’
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