March 18, 2023 12:18 PM | 3 min read
Benzinga examined the prospects for many investors’ favorite stocks over the last week — here’s a look at some of our top stories.
The three major indices ended the week mixed amid turmoil in the banking sector and ahead of next week’s Federal Reserve meeting. The Dow Industrials finished the week 0.2% lower, while the S&P 500 climbed by 1.4% and the Nasdaq Composite saw strong bullish momentum, finishing 4.4% higher this week.
On Tuesday, the Labor Department reported the consumer price index gained 6% year-over-year in February, down from a 6.4% increase in January.
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First Republic Bank (NYSE:FRC) shares tumbled more than 25% on Friday, even after a group of fellow banks committed to providing $30 billion in deposits to boost its liquidity. Meanwhile, Credit Suisse Group AG (NYSE:CS) shares also sold off sharply this week following news that the company will borrow up to $54 billion from the Swiss National Bank to provide short-term liquidity.
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
“Ryan Reynolds’ Mobile Company Gets $1.35B Buyout From T-Mobile: Will He Purchase An NHL Team With That Money?” by Chris Katje, details the golden touch of Ryan Reynold, who’s a co-owner of Mint Mobile, a part of Ka’ena Corporation that is now set to be acquired by T-Mobile US (NASDAQ:TMUS) for $1.35 billion.
In “Cathie Wood Loads Up On Tesla Stock Again — Also Hikes Stake In This Financial Services Company,” Bhavik Nair reports that Cathie Wood-led ARK Investment Management bought additional shares of Tesla Inc (NASDAQ:TSLA) this week, valued at over $4.6 million.
“Amazon Is JP Morgan’s Best Pick: Analyst Says Investor Sentiment On Stock Is Near Multi-Year Lows,” by Anusuya Lahiri, outlines why Amazon.com Inc (NASDAQ:AMZN) remains the “Best Idea” of a JP Morgan analyst, even though he anticipates the company to face several short-term challenges.
For additional bullish calls of the past week, check out the following:
EXCLUSIVE: Ross Gerber Is Very Bullish On Tesla, Very Bearish On Elon Musk — ‘Our Clients Hate Him Now’
Biden The Master Oil Trader Part Deux? Crude Prices Plummet. Is A Government Windfall Coming?
‘Big Short’ Investor Michael Burry On Current Banking Crisis, ‘I Am Not Seeing True Danger Here’
The Bears
“Moody’s Warns Of ‘Rapid Deterioration’ In Banking Environment, Evaluates Comerica, Western Alliance And More,” by Chris Katje, explains why Moody’s Corporation (NYSE:MCO) downgraded the outlook on the U.S. banking sector and warned of a deteriorating banking environment.
In “Shiba Inu Developer Admits Mistake With Shibarium Beta After Backlash From Community, Says Will Fix Within A Week,” Mehab Qureshi writes that Shiba Inu (CRYPTO: SHIB) developer Kaal Dhairya has admitted to making a mistake regarding the Shibarium Beta chain ID after a backlash from the community.
“Facebook Just Gave Up On Making Millions From NFTs,” by Murtuza Merchant, details Meta Platform Inc’s (NASDAQ:META) announcement that the company will stop working on NFTs in order to focus on other ways to support creators, businesses and people.
For more bearish takes, be sure to see these posts:
Jim Cramer Calls Bitcoin ‘A Strange Animal,’ Urges Investors To Sell Their Holdings As Crypto Market Gains Momentum
Ford Drops In Tandem With Tesla As Tech Sector Is Gripped By SVB Fall-Out Fears
Why This Money Manager Thinks Fed’s SVB Rescue Plan Could Lead To ‘Much Larger’ Problems
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