Benzinga Bulls And Bears: Tesla, Coinbase, Apple, Amazon And Jack Dorsey Calls Ethereum A Security

Zinger Key Points
  • The QRAFT AI-Enhanced U.S. Large Cap Momentum ETF sold off its shares of Nvidia and opened a position in Amazon.
  • The Securities and Exchange Commission filed a lawsuit against Coinbase, alleging the company is acting as an unregistered broker.
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Benzinga examined the prospects for many investors' favorite stocks over the last week — here's a look at some of our top stories.

The S&P 500 finished the week on a high note, closing near the 4,300 benchmark on Friday for the first time since August 2022. This uptick reflects investor anticipation of next week's inflation data and the impending announcement of the Federal Reserve's latest decision on rates.

The S&P 500 rose by 0.39% this week, making it the fourth consecutive week of gains — a streak last seen in August. The Nasdaq was up around 0.14%, marking its seventh week of consecutive gains, a streak not seen since November 2019. The Dow Jones rose 0.34%. Despite a minor drop on Friday, the Russell 2000 reported a weekly increase of 1.9%.

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

"AI-Powered ETF Dumps Nvidia In June For A FAANG Stock," by Shanthi Rexaline, reports that the QRAFT AI-Enhanced U.S. Large Cap Momentum ETF AMOM sold off its shares of Nvidia Corp NVDA and opened a position in Amazon.com Inc AMZN.

In "Crude Awakening: 5 Oil Stocks Poised For Growth As Global Output Tightens," Piero Cingari explains that U.S. oil stocks are poised to capitalize on a tightening global crude market, including Marathon Oil Corp.MRO, Occidental Petroleum Corporation OXY, and Valero Energy Corp. VLO.

"Tesla's $3B Jackpot: Analyst Projects Rival EV Makers Could Supercharge Its Growth By 2030," by Chris Katje, details why an analyst thinks Tesla Inc TSLA has the potential of generating $3 billion in charging revenue from non-Tesla owners by the year 2030.

For additional bullish calls of the past week, check out the following:

Benzinga's 'Stock Whisper' Index: 5 Stocks Investors Are Secretly Monitoring But Not Talking About Yet

Adobe, The Secret AI Play? Why This Analyst Just Bumped Up Price Target

Apple's Vision Pro Price Tag, Release Date Find Little Love On The Street: Why One Analyst Says Disney Acquisition More Likely After WWDC

The Bears

"Jack Dorsey Says Ethereum A Security, Believes 'Bitcoin Way Too Ahead Amid SEC Lawsuits Against Binance, Coinbase," by Mehab Qureshi, reports that former CEO of Twitter, Jack Dorsey, this week indicated that he believes Ethereum ETH/USD is a security.

In "After Binance, SEC Accuses Coinbase Of 'Acting As Unregistered Broker' In Lawsuit," Murtuza Merchant details the Securities and Exchange Commission's lawsuit against Coinbase Global Inc COIN, alleging the company is acting as an unregistered broker.

"Vision Pro Launch Triggers Concerns Over Apple Stock Dip, Similar To Original iPhone, MacBook, iPad Reveals," by Piero Cingari, looks at the historic drop of Apple Inc's AAPL stock immediately following the launches of what have turned out to become the company's most successful products.

For more bearish takes, be sure to see these posts:

Stock Market Volatility Plummets To Pre-Covid Levels: Analyst Says 'Enjoy Low VIX While It Lasts'

Jim Cramer Labels Binance A 'Sham' Amid SEC Lawsuit, Says Crypto Investors Now Have To 'Work In Overdrive

Real Estate Market Turmoil Looms As Tech Giants Flee Offices: Watch These 5 Stocks, Short Sellers Circling For Potential Collapse

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