Benzinga examined the prospects for many investors’ favorite stocks over the last week — here’s a look at some of our top stories.
Comments from a Fed official put Wall Street in a bullish mood to end the week, as all three major indexes finished higher. The S&P 500 rose by 1.9%, the Dow Industrial Average climbed by 1.17% and the Nasdaq Composite was up by 2.6% on the week.
On Thursday, Atlanta Fed President Raphael Bostic said he does not see a need for the Fed to increase the pace of interest rate hikes from 0.25% to 0.5%, even after January inflation data came in hotter than expected.
On Friday, Comerica Bank’s Chief Economist Bill Adams said the Fed is likely to raise the fed funds rate a quarter percentage point at each of their next three meetings, to a range of 5.25%-5.5%, and hold it at that level through March 2024.
Benzinga provides daily reports on the stocks most popular with investors. Here are a few of this past week’s most bullish and bearish posts that are worth another look.
“No More FOMO: Microsoft’s Phone Link App Will Allow Apple Users To Access iMessage On Windows,” by Ananya Girola, reports that Microsoft Corporation MSFT is set to launch a Phone Link App that will enable Apple Inc AAPL users to access iMessage and notifications on Windows, just like Android users do.
In “Elon Musk’s Embrace Of Cannabis On Twitter: Weed Companies Still Celebrating Win-Win Situation,” Maureen Meehan outlines how Twitter CEO Elon Musk‘s decision to allow cannabis brands on the social media platform could be a big boost to companies like Trulieve Cannabis Corp TCNNF.
“Dogecoin Could Surge 50% To $0.11, Says Crypto Analyst — Urges Elon Musk ‘To Make It Happen,'” by Mehab Qureshi, explains why a crypto analyst predicts that Dogecoin DOGE/USD could surge as much as 50%, and is calling on Elon Musk to “make it happen.”
For additional bullish calls of the past week, check out the following:
Study Shows This Rivian Vehicle Is Beating Tesla In EV Customer Satisfaction
‘Mona Lisa’ Of Sneakers Go On Sale: What You Need To Know About The Unique Jordans
What Does Women’s History Month Mean For The Stock Market As Record Number Of Women Turn To Investing?
In “Tesla Investor Day ‘Long On Aspiration, Short On Details:’ Analyst Explains After-Hours Stock Slump,” Shanthi Rexaline writes that Future Fund co-founder Gary Black was underwhelmed by Tesla Inc’s TSLA Investor Day, saying it was “long on aspiration, short on detail.”
“Jim Cramer Says He’s Known Novavax Is ‘Worthless’ For ‘Very Long Time,’ Trashes Company For Being Too ‘Promotional,'” by Adam Eckert, reports on why Jim Cramer called Novavax Inc NVAX “not phony, but worthless” as the company’s shares crashed on Wednesday.
In “Bitcoin, Ethereum, Dogecoin Slide On Silvergate Panic: Analyst Says ‘Time For A Squeeze’ As Crypto Market Sees $240M Wipeout,” Mehab Qureshi details the sudden dip in the prices of Bitcoin BTC/USD and Ethereum ETH/USD on news of troubles at Silvergate Capital Corp SI.
For more bearish takes, be sure to see these posts:
‘Big Short’ Investor Michael Burry Thinks Biden’s Student Loan Forgiveness Will Mean ‘Terrible Consequences For America’
Betting Against Jim Cramer Now A Reality: What Investors Should Know About The Inverse Cramer ETF (And Long Cramer ETF Too)
Robinhood Faces SEC Probe Over Crypto Business Amid Regulatory Crackdown