BlackRock's iShares Bitcoin Trust ETF (IBIT) now holds 196,065 BTC, surpassing MicroStrategy's 193,000 BTC stash, reflecting the surging demand for spot Bitcoin ETFs since their introduction in January. The influx into nine new spot Bitcoin ETFs in the past two months exceeds the total inflow into all physical gold ETFs in the past five years, with cumulative trading volume surpassing $100 billion. This surge in trading activity has fueled the growth of spot Bitcoin ETFs, collectively holding 4% of Bitcoin’s total circulating supply, leading to a fresh all-time high in Bitcoin's price. However, the market witnessed a sharp sell-off, with Bitcoin's price dropping by nearly 6% shortly after reaching a new high, causing apprehension amidst the crypto's notorious volatility.
MicroStrategy has accumulated 193,000 Bitcoins worth over $11 billion, resulting in nearly $5 billion in unrealized gains. Despite the potential for huge profits, Chairman Michael Saylor stated that there is "no reason to sell the winner and buy the losers," indicating no plans to sell soon. The company's Bitcoin profits far exceed its operational earnings, and its market cap is approaching the size of its Bitcoin holdings. MicroStrategy considers itself the world's first Bitcoin development company and remains bullish on Bitcoin for the long term.
As Nvidia reaches a $2 trillion market cap, billionaire Marc Rowan's Apollo Global Management warns that AI stock valuations have surpassed the dotcom era excesses, with the top 10 S&P 500 companies being more overvalued than during the tech bubble. The firm's economist, Torsten Sløk, predicts a fragile U.S. economic equilibrium and potential Federal Reserve rate adjustments. Despite Nvidia's record market cap gain, concerns arise over meeting soaring expectations, national security implications, and competition pressuring margins. ARK Invest's Cathie Wood has reduced exposure to AI semiconductor stocks, citing high expectation levels.
Carson Group, a $30 billion investment advisory firm, has added exposure to spot Bitcoin for its clients by investing in four Bitcoin exchange-traded funds (ETFs), including BlackRock iShares Bitcoin Trust, Fidelity Wise Origin Bitcoin Fund, Bitwise Bitcoin ETF, and Franklin Bitcoin ETF. The firm prioritized significant asset growth, trading volume, and cost-efficiency when selecting these ETFs. This move reflects the growing adoption of Bitcoin among traditional investors and further solidifies Bitcoin's position in mainstream finance.
Nvidia disclosed its investments in Arm Holdings, SoundHound AI, Nano-X Imaging, Recursion Pharmaceuticals, and TuSimple Holdings in its first-ever 13F filing with the SEC. The company sought to buy Arm Holdings for $40 billion in 2020 but gave up in early 2022 amid regulatory objections. Nvidia's stakes in these companies have seen varying levels of growth, with SoundHound and Nano-X Imaging experiencing significant spikes in stock value.
Byju's plans to raise $200 million through a rights issue at a valuation of about $220–230 million, a significant drop from its once $22-billion worth. The funds will be used to clear immediate liabilities and meet operational requirements, with founder Byju Raveendran emphasizing the importance of raising capital to prevent further value impairment. This move comes as the edtech company aims to navigate legal and financial challenges and achieve operational profitability, marking a significant shift from its unicorn status to stay afloat in a tough funding environment.
Jim Cramer, a well-known investment pundit, has advised investors to sell shares of certain high-profile companies, including tech giants like Apple, Amazon, and NVIDIA, as the market shifts focus to "boring" stocks with high yields. He suggests that the market is rotating towards financial, healthcare, and small-cap stocks, which were previously overlooked. Cramer's recommendations are based on the performance trends of the S&P 500 and a broader money rotation in the market. The article evaluates the performance of the 12 stocks Cramer recommended selling, with a detailed look at their recent performance and Cramer's rationale for advising investors to sell them.
Warren Buffett advises investors not to buy any stock in 2024 unless it passes a two-step test: sensibly estimating a company's earnings range for five years or more and ensuring the stock price is reasonable compared to the lower end of that range. Despite the challenge of this approach, some stocks like D.R. Horton are considered to pass this test. Buffett also suggests that those uncomfortable with estimating earnings should consider investing in low-cost S&P 500 index funds for satisfactory long-term results.
The Financial Times is running a promotional offer for its subscription plans, providing discounts and savings for new customers interested in accessing their financial journalism, which includes insights on topics such as Bitcoin ETFs. The article suggests that Bitcoin ETFs may be missing the point, potentially discussing the disconnect between the purpose of Bitcoin as a decentralized asset and the traditional financial products that attempt to package it for mainstream investors.
Parkev Tatevosian, a contributor for The Motley Fool, recommends a particular growth stock that has seen a significant price drop of 61% as a strong buy for long-term investors in 2024. This stock is poised to benefit from increased consumer spending outside the home. The specific stock is not named in the excerpt, but The Motley Fool has positions in and recommends Six Flags Entertainment, which may suggest the sector or type of company being referred to. Tatevosian has no position in the stocks mentioned and may earn compensation for promoting The Motley Fool's services.
The article suggests that Microsoft, Amazon, and Alphabet are top AI stocks to buy in 2024. Microsoft's investment in OpenAI and the integration of ChatGPT into its products, especially the CoPilot productivity assistant, positions it for potential growth. Amazon's investment in Anthropic and its cloud service Bedrock could reignite its growth in cloud computing. Alphabet's introduction of Gemini, an AI tool similar to ChatGPT, and its low price-to-earnings ratio make it an attractive investment. All three companies are seen as poised to benefit from the AI trend and are recommended for investors to consider.
The article discusses four stocks the author is considering investing heavily in for 2024: Amazon, Alphabet, UiPath, and DLocal. Amazon is expected to benefit from a rebound in its cloud computing segment and high profit margins. Alphabet is likely to see growth from an improved advertising market and advancements in AI technology. UiPath, a key player in the rapidly growing robotic process automation market, is anticipated to continue its fast-paced growth. DLocal offers unique payment solutions for emerging markets and is attractive due to its profitability and growth potential. The author plans to allocate a significant portion of their investment contributions to these stocks while maintaining a diversified portfolio.
The Motley Fool's Stock Advisor analyst team did not include Palantir Technologies in their top 10 recommended stocks for investors, despite the potential for Palantir to be a leading AI stock in 2024. The Stock Advisor service, known for its success since 2002, offers a blueprint for investing and regular stock picks. While the author, Jose Najarro, holds positions in Palantir and is affiliated with The Motley Fool, he maintains that his opinions are his own.
Wall Street analysts have a bullish view on Alibaba (BABA) with an average brokerage recommendation (ABR) of 1.27, suggesting a strong buy. However, reliance solely on these recommendations may not be wise due to potential biases from brokerage firms. The Zacks Rank, a tool based on earnings estimate revisions, offers a different perspective, currently giving Alibaba a #3 (Hold) rank. Investors are advised to use these recommendations as a supplement to their own research rather than as a sole basis for investment decisions.
Investors are eyeing stock-split stocks, with Alphabet (Google's parent company) being recommended as a strong buy for 2024 due to its dominant search engine market share, growth in YouTube and Google Cloud, and attractive valuation. Conversely, Tesla is suggested as a stock to avoid, given concerns over declining demand for its EVs, reliance on non-recurring income sources, overpromises by CEO Elon Musk, and a valuation that may not be sustainable with falling operating margins.
