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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The comments come a day after the company reported mixed quarterly results. While its loss per share was smaller than expected, revenue fell shy of estimates, thus triggering a selloff. Incidentally, management acknowledged multiple headwinds while slashing the forecast.
For instance, the Hepatitis C drug is witnessing a slowdown, as it represented 60–70 percent of the company's specialty business. Other headwinds included pressure on continued reimbursement, tough competitive environment, and DIR fees extending their ambit.
In a research note to clients, the lead analyst said, "Risks include better SSS trends as FRED works to revamp its marketing, merchandising, and store format and should pharmacy industry headwinds subside, and GPM improvement."
Deutsche Bank pointed out that SSS witnessed 3.0 percent drop in August, which was wider than the 1 percent drop estimated by the firm and the Street. On a two-year stack basis, it represented a fall of 1.8 percent compared to 3.9 percent drop in July. The main culprit in this drag is the slowdown in the Hepatitis C drug. The company faced negative trends in paper, household chemicals, beverage and food, thus indicating the pressure from tough market conditions.
The stock was down 6.06 percent at $11.16 at time of writing.
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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.