Tesla And Uber Team Up; PayPal’s ‘Transition Year’; Analyst Predicts Dogecoin Will Soar To $5

By: Alex Freidmen

Tesla and Uber Team Up, PayPal’s ‘Transition Year’, and Dogecoin’s Potential to Soar

Benzinga examined the prospects for many investors’ favorite stocks over the last week — here’s a look at some of our top stories.

The bulls were running on Wall Street this week as all three major indexes finished higher. The S&P 500 Index, tracked by the SPDR S&P 500 ETF Trust SPY, reached unprecedented all-time highs in the final session of the week, a notable achievement over two years since its last peak.

Leading the stock market’s recovery this week were major technology stocks, fueled by rising investor enthusiasm due to breakthroughs in artificial intelligence and strong consumer demand. The Nasdaq 100, tracked by the Invesco QQQ Trust QQQ, marked its 11th week of gains in the past 12, setting new historic highs and surpassing the 17,000-point threshold.

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.

Positive Outlook

“Uber, Tesla Team Up To Drive EV Adoption: Khosrowshahi Says Company Remains ‘Totally Committed’ To Electrification Despite Demand Concerns,” by Adam Eckert, reports that Uber Technologies Inc. UBER and Tesla Inc. TSLA are collaborating to boost electric vehicle adoption, with Uber CEO Dara Khosrowshahi emphasizing the company’s unwavering commitment to electrification.

“Dogecoin Could ‘Blast Off To The Moon,’ Says Crypto Analyst With $5 Price Target,” by Mehab Qureshi, highlights a crypto analyst’s forecast of Dogecoin DOGE/USD potentially soaring to $5, a 6000% increase, backed by a recent spike in Dogecoin transactions and market indicators.

“Amazon Scores Big With Regional Sports Network Deal: Prime Video To Feature MLB, NBA, NHL Games,” by Chris Katje, reports that Amazon.com Inc. AMZN has acquired a minority stake in Diamond Sports Group, expanding its media rights in sports to include streaming MLB, NBA, and NHL games on Prime Video.

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For additional bullish calls of the past week, check out the following:

S&P 500 Shatters Records: The Top-Performing Stocks In January 2024

Nvidia Poised for Continued Dominance in AI Infrastructure, Analysts Forecast Robust Growth

Reddit, Social Media Giant Behind GameStop Saga, Plans $10B March IPO

Downward Trends

“Bitcoin Halving Next Major Catalyst After Spot Bitcoin ETF Approvals, But History Shows BTC Could Dip To $34,000 By April,” by Khyathi Dalal, discusses the mixed predictions surrounding the impact of the upcoming Bitcoin BTC/USD halving event in April 2024 on the cryptocurrency’s prices.

“Plug Power Hurtles Toward 4-Year Low After $1B Equity Offering Plans: Why This Analyst Says It’s Unlikely To Woo Back Investors,” by Shanthi Rexaline, reports that Plug Power, Inc. PLUG is nearing a four-year low following plans for
a $1 billion equity offering, amid skepticism from analysts about its potential to attract investors.

“This PayPal Analyst Expects 2024 To Be A ‘Transition Year,’ Foresees Stock Range-Bound Due To Valuation Concerns,” by Surbhi Jain reports that PayPal Holdings Inc. PYPL is expected to face a “transition year” in 2024, with
stock remaining range-bound due to valuation concerns, according to a BofA analyst.

For more bearish takes, be sure to see these posts:

Alibaba and Tencent Lead Massive Investment Cutbacks Among Chinese Tech Giants

Bitcoin Slips Below $41,000 After Jim Cramer’s ‘Far From The Bottom’ Tweet: What Happened To ‘Inverse Cramer’?

Courts Reinstate Ban On Apple Watches With Blood Oxygen Sensors

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