Benzinga examined the prospects for many investors' favorite stocks over the last week — here's a look at some of our top stories.
This week concluded with gains across all major stock indexes, with the Nasdaq advancing 0.7%, while the S&P 500 and the Dow marked their sixth consecutive positive week, the longest winning streaks for both indexes since 2019. The broad market index rose by 0.2% and the Dow finished marginally higher.
Market sentiment, initially boosted by expectations of Federal Reserve interest rate cuts in 2024, faced some restraint on Friday due to a strong labor market report and an unexpected increase in the University of Michigan's consumer sentiment for December.
Investors are now focused on the upcoming release of November's inflation data next Tuesday and the Federal Reserve Open Market Committee meeting on Wednesday.
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.
The Bulls
"Meme King Ryan Cohen Now Able To Trade Stocks With GameStop Funds," by Chris Katje, reports on GameStop Corp. GME CEO Ryan Cohen, now authorized to trade stocks using company funds, marking a significant shift in GameStop's investment strategy.
"'Doge Train Left The Station': Analyst Predicts Dogecoin To Skyrocket Over 700% By July 2024," by Mehab Qureshi, discusses an analyst's forecast of Dogecoin DOGE/USD potentially surging over 700% by July 2024, driven by increasing adoption and market trends.
"Google Fires Biggest Salvo Against OpenAI With Gemini — And TikTok Parent Says 'More Powerful' Model Coming Anytime Now," by Rounak Jain, discusses Alphabet Inc-owned GOOG GOOGL Google's new AI model Gemini challenging OpenAI's dominance, alongside TikTok's parent company ByteDance preparing to launch an even more powerful AI model.
For additional bullish calls of the past week, check out the following:
2024's Potential Stock Surprises: Goldman Sachs Unveils S&P 500 Laggards For Major Gains
Roche, Pfizer Race To Find Next Ozempic As Pharma Giants Hustle To Join Obesity Treatment Market
The Bears
"JPMorgan CEO Calls For A Shut Down Of Bitcoin And The Crypto Industry: Here's How Social Media Mocked Him," by Murtuza Merchant, covers JPMorgan Chase & Co. JPM CEO Jamie Dimon's call for shutting down Bitcoin BTC/USD and the crypto industry, and the subsequent mockery on social media.
"Famed Short Seller Carson Block Flags 'Cover Your A**' Situation as Muddy Waters Bets Against Blackstone," by Adam Eckert, highlights Carson Block and Muddy Waters Research's new short position against Blackstone Mortgage Trust Inc. BXMT, and prediction of significant financial challenges and potential dividend cuts for the company.
"Tesla Bull Calls Cybertruck 'Niche Product': 'Demand Will Be Limited … Until Pricing Comes Down,'" by Chris Katje, discusses a Tesla Inc TSLA bull's perspective that the Cybertruck is a niche product and its demand will remain limited until prices are reduced.
For more bearish takes, be sure to see these posts:
Palantir's Stock Surge Meets Potential Pause
China's Market In Turmoil As Moody's Warning Erases Reopening Gains
Oil Enters Bear Market As Crude Prices Slump To Five-Month Low
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