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 marked the third consecutive week of losses for the Nasdaq Composite and the S&P 500, which fell 3.6% and 2.9% respectively, recording their worst performances since March. The Dow Jones Industrial Average also declined, shedding 1.9%.
The Federal Open Market Committee meeting was a focal point in the markets, where the decision was made to maintain interest rates at between 5.25% and 5.5%, as widely expected. According to the dot plot projections, an additional rate hike is probable this year, with the median estimate for the federal funds rate at the end of 2023 holding steady at 5.6%, signaling fewer expected rate cuts in 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.
The Bulls
"Palantir On Track To Garner Meaningful Share Of $1 Trillion Global AI Market: Analyst," by Shanthi Rexaline, conveys Daniel Ives' confidence in Palantir Technologies, Inc. PLTR securing a significant portion of the global AI market, praising its rapid integration and diverse industry applications.
"Tesla Ultimately Wins From Long And Nasty UAW Strike: Dan Ives," by Chris Katje, discusses how Tesla, Inc. TSLA and non-union foreign automakers stand to gain from the ongoing UAW strike affecting General Motors Company GM, Ford Motor Company F, and Stellantis NV STLA.
"Anthony Scaramucci Says Worst Of Bear Market Is Behind Us: 'I Wouldn't Sell Your Bitcoin, You Made It Through Winter'," by Mehab Qureshi, conveys Anthony Scaramucci's bullish stance on Bitcoin BTC/USD, emphasizing its potential value over gold and predicting widespread adoption, particularly through the introduction of Bitcoin ETFs.
For additional bullish calls of the past week, check out the following:
Teardown Expert Says Lucid's Electric Drive System 'The Only Thing That Can Beat Tesla
DraftKings Bull Sees Sports Betting Winner: '$35B Opportunity'
The Bears
"Bud Light Faces Brewing Storm in 2024 As Rival Gears Up For Super Bowl LVIII," by Chris Katje, reveals that Anheuser-Busch InBev BUD faces increased competition as Molson Coors Beverage Company TAP and other brands capitalize on advertising opportunities, challenging Bud Light's market share.
"Instacart Stock Jumps 40% On Debut, Why Josh Brown Says Investors Should Sell It Now," by Adam Eckert, reports that Maplebear Inc. CART, known as Instacart, experienced a 40% stock jump on its debut, but Josh Brown advises investors to sell early for profit amid anticipated selling pressure.
"This Analyst Issues Sell Call On Tesla, Flags Demand Problems, Falling ASPs, And Margins," by Anusuya Lahiri, details Gordon L. Johnson II's sell rating on Tesla, Inc. TSLA, citing concerns over demand issues, decreasing average selling prices and potential margin declines despite the company's growth narrative.
For more bearish takes, be sure to see these posts:
Google's Map Dominance Crumbles As Apple Maps Surges On iPhones, Reveals Finance VP
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