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Benzinga Bulls And Bears: Tesla, Alphabet, Trump Media, Super Micro — Trader Predicts Dogecoin Rally Above 20 Cents In November
Source: Buzz FX / 02 Nov 2024 08:25:19 America/Chicago
Benzinga examined the prospects for many investors’ favorite stocks over the last week — here’s a look at some of our top stories.
Major U.S. indexes saw a volatile close to the week, with the S&P 500 and Nasdaq each down over 1%, largely influenced by recent earnings impacts from tech heavyweights like Microsoft and Meta Platforms. The Dow also edged lower by 0.2%, reflecting broader market apprehension following an October close that ended a five-month run of gains.
The CBOE Volatility Index (VIX) spiked 34% in October—its third-highest increase for that month in an election year—indicating heightened market caution.
Adding to this outlook, October's nonfarm payroll numbers reported only 12,000 new jobs, which has strengthened expectations for a Fed rate cut in the coming weeks. Markets largely predict another reduction by year-end.
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
“Michael Saylor Says Bitcoin Remedy To Fix Unhealthy Balance Sheets As MicroStrategy Unveils Massive $42B BTC Purchase Plan,” by Aniket Verma, reveals MicroStrategy Inc. (NASDAQ:MSTR) CEO Michael Saylor‘s argument that Bitcoin can stabilize corporate finances, announcing a $42 billion initiative to expand its Bitcoin (CRYPTO: BTC) holdings, which currently total 252,220 BTC, valued at $18.23 billion.
“Tesla Bull Says Elon Musk-Led EV Giant Is No Longer Seen As An Auto Company By Investors, Explains Why Its Stock Trades At A Hefty Premium To Legacy Rivals,” by Anan Ashraf, shares insights from Gary Black of The Future Fund, who argues that Tesla Inc. (NASDAQ:TSLA) commands a premium valuation as investors increasingly view it as a tech company due to its growth in EVs and autonomous driving.
“Dogecoin’s Rally ‘Has Just Begun For This Cycle,’ Predicts Trader Who Foresees Parabolic Surge In November,” by Khyathi Dalal, features a trader’s analysis that Dogecoin (CRYPTO: DOGE) could surge in November, fueled by patterns from prior post-halving cycles, with a breakout above 20 cents as a key target.
“DJT Short Squeeze Could Push Stock To $60 If Trump Wins, But Analysis Says Loss Could Make Shares ‘Worthless’,” by Chris Katje, explains that Trump Media & Technology Group (NASDAQ:DJT) shares are poised for volatility amid Election Day, with S3 Partners noting that a Trump victory could trigger a short squeeze pushing prices to $60, while a loss might render shares worthless.
For additional bullish calls of the past week, check out the following:
The Bears
“Trump Goes After Taiwan Semiconductor On Joe Rogan Podcast,” by Anusuya Lahiri, covers Donald Trump‘s critique of Taiwan Semiconductor Manufacturing Co. (NYSE:TSM) on the Joe Rogan podcast, accusing Taiwan of undermining U.S. chip production and promising tariffs if elected.
“Sundar Pichai Admits DOJ Proposals Could Have ‘Unintended Consequences’ — Google Mapping Out Plan B In Case Apple Ends Search Deal,” by Ananya Gairola, reports Alphabet Inc. (NASDAQ:GOOG) (NASDAQ:GOOGL) CEO Sundar Pichai's concerns over DOJ antitrust proposals potentially destabilizing the tech industry, while hinting at contingency plans if Apple Inc. (NASDAQ:AAPL) ends its search partnership.
“Super Micro Analyst Suspends Rating Over Governance, Accounting Issues,” by Anusuya Lahiri, details a Rosenblatt analyst’s decision to suspend his rating for Super Micro Computer, Inc. (NASDAQ:SMCI) after Ernst & Young resigned as its auditor due to governance and transparency issues.
For more bearish takes, be sure to see these posts:
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Image created using artificial intelligence via Midjourney.
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