Tesla, GameStop and Cathie Wood Still Say Bitcoin Will Hit $1M: Bulls and Bears of the Week – Bitcoin (BTC/USD), Coinbase Global (NASDAQ:COIN)
Benzinga examined the outlook for many investors’ favorite stocks this past week – here’s a look at some of our top stories.
Wall Street ended the Thanksgiving-shortened trading week on a high note as the holiday shopping season officially kicked off on Friday. The S&P 500 ended the week up 1.51%, the Dow Industrial Average was up 2.20% and the Nasdaq Composite was down a tiny 0.27% for the week.
The National Retail Federation expects 166 million people to make holiday purchases from Thanksgiving Day to Cyber Monday.
Investors, meanwhile, are turning their attention to the upcoming Federal Reserve meeting in December. On Wednesday, the Federal Open Market Committee released its November meeting minutes, and the Fed’s language suggests it is likely to slow the pace of rate hikes to 0.5% in December.
Benzinga continues to examine the outlook for many of the stocks 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
“Most Anticipated Vehicle Launch Ever? Here’s How Many Tesla Cybertrucks Are Reserved: Report,” by Shanthi Rexaline, looks at the growing demand for Tesla Inc TSLA upcoming Cybertruck, as new data shows 1.5 million reservations for the vehicle.
In “Cathie Wood Reiterate Bitcoin $1M Price Target: ‘Sometimes You Have to Go Through Crisis to See Survivors,'” Mehab Qureshi explains why Cathie Woodfounder and CEO of Ark Invest Management, still believes Bitcoin BTC/USD could reach $1 million by 2030.
“GameStop Short Sellers May Be ‘Running Out Of Bullets’: Analyst,” by Wayne Duggan, reports on why S3 Partners analyst Ihor Dusaniwsky means it GameStop Corp GME short sellers are running out of steam.
For more bullish calls from the past week, check out the following:
Cramer Analyzes Legendary Trader Larry Williams’ S&P 500 Forecast: ‘Santa Rally Coming to Town Next Month’
NFT opportunities for Disney are ‘extraordinary’: How Bob Iger’s return could drive Web3 growth
Apple Music support appears to be finally coming to Tesla cars
The bears
“As Oil Prices Fall, ExxonMobil Holds Up: ‘It May Be Time to Call the Register,'” by Joel Elconin, explains why stocks in Exxon Mobil Corp XOM has maintained its gains, and why now may be the time to sell the stock.
In “Jim Chano’s Doubles Down On Coinbase Criticism: ‘It Just Doesn’t Work,” Melanie Schaffer outlines the reason for the short seller Jim Chanos doubled down on its criticism of Coinbase Global Inc COINand why he says the company’s business model isn’t working.
“Credit Suisse questions ‘regarding’ outlook showing asset losses ‘well above’ expectations,” by Adam Eckert, notes the growing investor concern about Credit Suisse Group CSwith many shares selling after management unveiled a worse-than-expected outlook for the fourth quarter.
For more bearish take, be sure to see these posts:
Meta’s metaverse ambitions in jeopardy as FTC challenges limitless acquisitions
Amid Resignations Sparking Elon Musk, Twitter France Head Hits Exit Button — ‘It’s Over!’
Crypto analyst predicts Ethereum could drop 54% if this firm declares bankruptcy
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