AMC, Paypal, Apple, Tesla and Why VanEck Says Bitcoin Could Fall to $10K in Q1 2023: Bulls And Bears Of The Week – AMC Entertainment (NYSE:AMC)
Benzinga examined the outlook for many investors’ favorite stocks this past week – here’s a look at some of our top stories.
What started as a strong week reversed course after the Federal Reserve raised interest rates on Wednesday, leading to another straight down week for the markets. The Dow Jones Industrial Average lost 1.7%, the S&P 500 fell 2.1%, and the Nasdaq Composite fell 2.7% this week.
On Wednesday, the Federal Open Market Committee voted unanimously to raise the Fed Funds rate by 0.5% to a new range of between 4.25% and 4.5%. Economists expect the central bank to continue raising interest rates in early 2023 in an attempt to bring inflation under control.
Benzinga continues to examine the outlook for many of the stocks most popular with investors. Here are some of the most bullish and bearish posts of the past week that are worth a look.
The Bulls
“There’s A Credit Card For Apes: How You Can Get The New AMC Card, What The Rewards Are,” by Chris Katje, describes the launch of a co-branded Visa credit card by AMC Entertainment Holdings Inc AMC which coincides with the company’s reward program.
In “Apple Ditching Innovation In Favor Of Pragmatism With MR Offering, Self-Driving Car, Gurman Says,” Shanthi Rexaline writes that Apple Inc AAPL is taking steps to get a mixed reality headset and an electric car on the market as quickly as possible.
“PayPal Partners with MetaMask on a Payment Method to Buy This Top Crypto: What You Need to Know,” by AJ Fabino, reports on a new collaboration between PayPal Holdings Inc PYPL and cryptocurrency wallet service MetaMask.
For more bullish calls from the past week, check out the following:
Moderna hovers over cancer vaccine news: Here’s what to look forward to
Netflix hit ‘Wednesday’ passes key milestone: Here’s why investors should be excited
Tim Cook praises Sony for partnership spanning a decade as Apple’s Japanese investment crosses $100 billion
The bears
“Tesla stock could crash to $20 if Elon Musk doesn’t ‘pull it together’ — and then there’s the disappearing backlog, mysterious price cut,” by Adam Eckert, describes why Tesla Inc TSLA Bear Gordon Johnson sees several red flags for the EV maker, and has a $23 price target on the stock.
In “Bitcoin Crashing To $10,000 And More: VanEck’s Top 2023 Crypto Predictions,” Mehab Qureshi reports that VanEckit New York-based investment group, predicts that Bitcoin BTC/USD will fall to between $10,000 and $12,000 in the first quarter of 2023.
“The Irony of a ‘Virtual’ Carvana Bus Tour: Car Buyers Want ‘Physical’ Shopping Experiences Again,” by Adam Eckert, explains why Carvana Co CVNA business model to offer a 100% online car trading service could lead to the company’s demise.
For more bearish take, be sure to see these posts:
JPMorgan: Crypto Market Shows Herd-Like Behavior After Investors Bought The Top
Robert Reich Says Fed Puts Duty to Fight Inflation on Wrong Group: ‘It’s Bad Economics … Crazy Politics’
Tesla Rival Rivian stops plans to make electric cars in Europe with Mercedes-Benz
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