Trader of Palantir, Nvidia, Tesla, Alphabet, and Dogecoin Claims ‘This Ought to Be the Bottom’: Insights from Benzinga’s Bulls and Bears

Over the past week, Benzinga has taken a deep dive into several stocks that are investor favorites. Below is a highlight of some key articles.

The S&P 500 experienced a slight decline of 0.04% over the last week, with an uptick during Friday’s trading that ultimately reverted by the close. Concurrently, the Dow Jones dropped by 0.6%, and the Nasdaq decreased by 0.18%.

The past week stood out as 2024’s most tumultuous for the markets, with the Dow plunging over 1,000 points on Monday and the S&P 500 shedding 3% on the back of lackluster payroll figures and uncertainty regarding the timing of Federal Reserve rate cuts.

Market dynamics shifted mid-week when the Bank of Japan maintained a dovish position on Wednesday, providing a check on the unwind of yen carry trades that was influencing liquidity in more speculative assets. This setting contributed to a rally in major indexes, amplified by favorable unemployment data on Thursday that quelled some worries concerning the American economy reported by Benzinga.

Benzinga continuously publishes updates on stocks heavily favored by the investment community. Here’s a recap of the top bullish and bearish perspectives presented last week.

The Bulls

In an article by Adam Eckert, “Palantir’s Rally Toward Yearly Peaks: Behind the Momentum” delves into how Palantir Technologies Inc. PLTR has been hitting new highs bolstered by stellar quarterly results and strong collaborations, such as those with Microsoft Corp. and Wendy’s, along with raised forecasts driven by sound U.S. commercial revenue and enhanced AI capabilities.

The analysis by Khyathi Dalal, “Dogecoin Nears Key $0.10 Level: Trader Suggests Potential Bottom,” mentions that, according to the crypto trader World Of Charts, Dogecoin’s rebound from significant support may indicate a bottoming, marking a potentially advantageous time for long-term investment after the coin’s recent ascent from a 37% weekly trough.

“Robinhood Garners Analyst Praise: Spotlight on Innovation & Market Growth,” by Chris Katje, spotlights the optimistic evaluations of Robinhood Markets Inc. HOOD which exceed earnings forecasts, introduce fresh offerings, and draw customers from rivals, alongside impressive deposit growth and savvy acquisitions such as Bitstamp and Pluto Capital.

Don’t miss these additional bullish articles from the past week:

A Seasoned Analyst Dismisses Recessionary Worries: ‘Economy’s Landing Will Be Soft’

Activist Elliot Takes 7% Stake in Southwest Post Criticism, Pushes Management Reform

Ark Invest’s Cathie Wood Loads Up on Reddit Following Revenue Surge, Purchases $13.7M in AMD Shares

The Bears

According to “Nvidia’s Forthcoming Chip Release Faces Hurdles with Design Concerns — How It Affects Big Tech,” by Shanthi Rexaline, Nvidia Corp. NVDA is facing launch delays for its Blackwell series chip due to design issues, likely impacting key clients such as Meta Platforms Inc. META, Microsoft Corp. MSFT, and Alphabet Inc. GOOGL.

Reported by Anan Ashraf, “Tesla’s Elon Musk Sees Short-Lived Challenge in Low-Cost EV Rivalry,” states that Elon Musk recognizes competition from more affordable EVs as a transient hurdle for Tesla Inc. TSLA, projecting it to be short-term as Tesla moves to launch more cost-effective models by 2025.

As noted by Nabaparna Bhattacharya, “Dim Prospects for Celsius, Analyst Warns of Tough Consumer Market Without Relief Until 2025,” a BofA analyst downgraded Celsius Holdings Inc. CELH forecasting a challenging consumer market with no expected substantial upturn until 2025.

For further bearish perspectives, be sure to visit:

Alphabet Incurs Loss in Anti-Competition Case Over Google’s Dominant Search

The Warner Bros and Discovery Merger: Regret Over a $43 Billion Deal

Nobel Laureate Paul Krugman’s Sarcastic Take on Bitcoin as a Store of Value

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This content was co-created using AI tools and scrupulously curated and released by Benzinga’s editorial team.