Benzinga examined the outlook for many investors’ favorite stocks this past week – here’s a look at some of our top stories.
Markets fell this week, triggered by hawkish comments from the Fed Chair Jerome Powell, followed by the collapse of Silicon Valley Bank on Friday. The S&P 500 ended the week down 4.55%, the Nasdaq Composite fell 4.71%, and the Dow Industrials lost 4.44% for the week.
On Thursday, SVB Finance Group (NASDAQ:SIVB) announced plans to raise $2 billion in capital to offset $1.8 billion in losses on bond sales, sending the stock down 60% on the day. SVB shares fell again on Friday before the stock was halted and the company’s Silicon Valley Bank was shut down by regulators.
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Earlier this week, Powell told Congress that the latest batch of US economic data “has come in stronger than expected,” and the Fed will likely be forced to raise interest rates “higher than previously expected.”
Benzinga provides daily reports on the stocks that are most popular with investors. Here are some of the most bullish and bearish posts of the past week that are worth a look.
The Bulls
“Lawmakers may ban TikTok, other Chinese tech, and Snapchat stock reacts,” by Aaron Bry, looks at how social media companies like Snap Inc (NYSE:SNAP) could benefit from US lawmakers banning TikTok.
In “Amazon NFT Marketplace Reportedly Launching On April 24: What You Should Know About Latest Rumor”, Chris Katje describes ongoing speculation that Amazon.com Inc (NASDAQ:AMZN) may be preparing for launch an NFT marketplace.
“Meta Quest Pro Now Available for $999: Is Mark Zuckerberg Planning Ahead for Apple MR Headset?” by Ananya Gairola, reports on Meta Platform Inc (NASDAQ: META) sharply cut the price of its Quest Pro VR headset in an attempt to draw more consumers into the virtual reality universe.
For more bullish calls from the past week, check out the following:
Billionaire Chamath Palihapitiya predicts new law that will provide billions in clean energy to create the world’s first trillionaire
Tesla analyst says ‘weaponized’ capacity already priced in: Is Elon Musk playing chess while other automakers play catch-up?
Apple, Amazon, AMD and 10 more tech stocks Morgan Stanley recommends through Market Trough, Into Next Bull Run
The bears
“Michael Burry Drops Cryptic Tweet: ‘Possible Today We Found Our Enron’,” by Shanthi Rexaline, reports on a cryptic tweet from “Big Short” investor Michael Burryamid concerns about the wider impact of a warning issued by SVB Financial Group, the holding company of Silicon Valley Bank.
In “Bitcoin Bull Mark Yusko Asks Why Dogecoin Exists: ‘My Mind Hurts’,” Mehab Qureshi explains why Bitcoin (CRYPTO: BTC) bull Mark Yusko continues his criticism of Dogecoin (CRYPTO: DOGE), reiterates its stance that the token should have no value, calling it “speculative nonsense.”
“Tesla shares slip as Model Y comes under US regulatory radar over steering problem,” by Shanthi Rexaline, looks at the potential impact of a probe initiated by the National Highway Traffic Safety Administration into steering wheel loosening Tesla Inc (NASDAQ:TSLA) Model Y SUVs after two complaints.
For more bearish take, be sure to see these posts:
The world’s largest asset manager says the Fed can take interest rates to 6% and keep them there for an extended period
Elizabeth Warren says she warned against Silvergate’s ‘risky’ activity: ‘Failure disappointing but predictable’
Paul Krugman says the economy is probably still hot: “What Matters Are …”
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