ZINGER KEY POINTS
- Cathie Wood, founder and CEO of Ark Invest Management, still believes Bitcoin can reach $1 million by 2030.
- Jim Chanos doubled down on his criticism of Coinbase, why he says the company's business model doesn’t work.
Benzinga examined the prospects for many investors' favorite stocks over the last 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 finished the week up by 1.51%, the Dow Industrial Average was up 2.20% and the Nasdaq Composite was down by a slight 0.27% for the week.
The National Retail Federation is anticipating 166 million people to make holiday purchases from Thanksgiving Day through 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's likely to slow the pace of its interest rate hikes to 0.5% in December.
Benzinga continues to examine the prospects for many of 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.
The Bulls
"Most Anticipated Vehicle Launch Ever? Here's How Many Tesla Cybertrucks Are Reserved: Report," by Shanthi Rexaline, looks at the increasing demand for Tesla Inc's upcoming Cybertruck, as new data shows 1.5 million reservations for the vehicle.
In "Cathie Wood Reiterates $1M Price Target For Bitcoin: 'Sometimes You Need To Go Through Crisis To See Survivors,'" Mehab Qureshi details why Cathie Wood, founder and CEO of Ark Invest Management, still believes BitcoinBTC/USD can 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 Dusaniwskybelieves that GameStop Corp short-sellers are running out of steam.
The Bears
"As Oil Prices Fall, ExxonMobil Holds Up: 'It May Be Time To Ring The Register,'" by Joel Elconin, explains why shares of Exxon Mobil Corp have maintained their gains, and why now may be the time to sell the stock.
In "Jim Chanos Doubles Down On Coinbase Criticism: 'It Just Doesn't Work,'" Melanie Schaffer outlines the reason short seller Jim Chanos doubled down on his criticism of Coinbase Global Inc, and why he says the company's business model doesn’t work.
"Credit Suisse Issues 'Concerning' Outlook Showing Loss Of Assets 'Far Above' Expectations," by Adam Eckert, notes the growing investor concern about Credit Suisse Group, with many selling shares after management unveiled a worse-than-expected outlook for the fourth quarter.
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