Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
Joel Elconin is the co-host of Benzinga's #PreMarket Prep, a daily trading idea radio show.
MannKind Corproation (NASDAQ: MNKD) shares were trading lower by $0.64 (9 percent) at $6.00 in Tuesday's session. Goldman Sachs is the ax in the issue, downgrading it from Sell from Neutral. Perhaps more alarming is the risk/reward cited by the firm with a downside of 55 percent vs. 5 percent to upside.
See Also: Goldman Sachs Says MannKind Has 55% Downside
The issue, which recently peaked on February 9 at $7.63 on the heels of positive news regarding its primary product, AfreZza, could not hold that elevated level and quickly retreated back under $7.00. After continuing to drift lower to the $6.50 level, the Goldman Sachs downgrade instigated a sharply lower open from Monday's close ($6.64) vs. Tuesday's open ($6.12).
When the issue was unable to recover from lower open, it fell back under $6.00 to $5.74 before staging a rebound. The current low coincides with its January 26 low at $5.73.
At time of writing, it was struggling to revisit the $6.00 handle.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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