March 11, 2023 3:25 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 markets took a tumble this week, triggered by hawkish comments by 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 dropped by 4.71%, and the Dow Industrials lost 4.44% for the week.
On Thursday, SVB Financial 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 were crashing again Friday before the stock was halted and the company’s Silicon Valley Bank was shut down by regulators.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you’ll also get Benzinga’s ultimate morning update AND a free $30 gift card and more!
Earlier in the week, Powell told Congress the latest batch of U.S. economic data “have come in stronger than expected,” and the Fed will likely be forced to raise interest rates “higher than previously anticipated.”
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.
“Lawmakers May Ban TikTok, Other Chinese Tech, And Snapchat’s Stock Is Reacting,” by Aaron Bry, looks at how social media companies like Snap Inc (NYSE:SNAP) could benefit if U.S. lawmakers ban TikTok.
In “Amazon NFT Marketplace Reportedly Launching On April 24: What You Should Know About Latest Rumor,” Chris Katje details ongoing speculation that Amazon.com Inc (NASDAQ:AMZN) may be preparing to launch an NFT marketplace.
“Meta Quest Pro Now Available At $999: Is Mark Zuckerberg Planning Ahead For Apple MR Headset?” by Ananya Gairola, reports on Meta Platform Inc’s (NASDAQ:META) major price cut on its Quest Pro VR headset in an effort to draw more consumers into the virtual reality universe.
For additional bullish calls of the past week, check out the following:
Billionaire Chamath Palihapitiya Predicts New Law Showering Billions On Clean Energy To Create World’s First Trillionaire
Tesla Analyst Says ‘Weaponized’ Capacity Is 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
“Michael Burry Drops Cryptic Tweet: ‘Possible Today We Found Our Enron,’” by Shanthi Rexaline, reports on a cryptic tweet from “Big Short” investor Michael Burry, amid concerns of the larger 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), reiterating his stance that the token should have no value, and calling it “speculative nonsense.”
“Tesla Shares Slip As Model Y Gets Under US Regulatory Radar Over Steering Wheel Issue,” by Shanthi Rexaline, looks at the potential impact of a probe initiated by the National Highway Traffic Safety Administration over the steering wheel coming off Tesla Inc’s (NASDAQ:TSLA) Model Y SUVs following two complaints.
For more bearish takes, be sure to see these posts:
World’s Largest Asset Manager Says Fed Could Take Rates To 6% and Keep Them There For Extended Period
Elizabeth Warren Says She Warned Of Silvergate’s ‘Risky’ Activity: ‘Failure Disappointing, But Predictable’
Paul Krugman Says Economy Probably Still Running Hot: ‘What Matters Are…’
Keep up with all the latest breaking news and trading ideas by following Benzinga on Twitter.
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.