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Super Micro Computer Inc (NASDAQ: SMCI) was among the most shorted S&P 500 tech stocks in May. Shares of the AI firm are up close to 200% for the year at writing. What was Supermicro stock short interest in May?Information technology weighs the most on the benchmark index and bets against it were up at large last month. In May, short interest in the S&P 500 tech stocks climbed to 1.56% on average versus 1.42% in April. But short interest in the high-flying SMCI stock far exceeded the average. At 7.26%, it was behind only two names in S&P 500 technology stocks in terms of short interest: Enphas...
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Apple Inc (NASDAQ: AAPL) has regained its crown of the world’s most valuable company after AI announcements at its 2024 WWDC. But Paul Meeks of Harvest Portfolio Management remains unimpressed. AI announcements not enough for Apple stockWall Street analysts rushed to raise their price targets on Apple stock after the multinational introduced a bunch of AI features as well as integration with ChatGPT. May dubbed it a “game changer” that will translate to a lift in iPhone sales. But Paul Meeks told CNBC in an interview this week: I will believe it when I see it. I don’t think we’re going to have...
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Bitfarms Ltd (NASDAQ: BITF) is gaining this morning after Riot Platforms Inc (NASDAQ: RIOT) increased its stake in the Bitcoin miner to about $14%. Riot now owns over 59 million Bitfarms sharesRiot Platforms loaded up on 1.43 million shares of Bitfarms on Thursday. In total, it now owns 59.2 million shares of BITF. RIOT also reiterated plans of calling a special meeting of those invested in Bitfarms on Friday where it intends to nominate several independent directors to the crypto miner’s board. The Nasdaq-listed firm has “serious concerns regarding the Board’s track record of poor corporate g...
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Adobe Inc (NASDAQ: ADBE) is rallying in extended hours on Thursday after reporting market-beating financial results for its second quarter. Adobe stock rallies on upbeat guidanceInvestors are rewarding the stock also because the management issued encouraging guidance for the future. $ADBE now forecasts its revenue to fall between $5.33 billion and $5.38 billion on up to $4.55 a share of adjusted earnings in Q3. Analysts, in comparison, were at $5.4 billion and $4.48 per share. Dan Durn – the chief financial officer of Adobe Inc said in a press release today: Our market-leading products, strong...
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Nike Inc (NYSE: NKE) has lost about 10% this year but a Deutsche Bank analyst is convinced the story moving forward will be a different one. Nike stock has upside to $115Krisztina Katai resumed coverage of Nike stock this morning with a “buy” rating. Her $115 price target suggests about a 22% upside from here. The Deutsche Bank analyst is bullish as the sports footwear and apparel firm has been devoted to innovation ahead of the Paris Olympics this year. Her research note reads: $NKE is at the onset of a multi-year innovation cycle that’s likely to deliver top-line growth ahead … with bigger s...
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Ford Motor Co (NYSE: F) opened in the red today after announcing plans of ending its EV dealership programme. Why is Ford pulling the plug on EV-certified?The initiative dubbed “EV-certified” was announced amidst exceptional demand for electric vehicles in September 2022. But $F is pulling the plug on that programme as the EV optimism is now fading fast. The legacy automaker is still growing its electric vehicles sales but at a pace that far lags its initial expectations. “The world has changed. The growth has slowed down”, said Marin Gjaja – the chief operating officer of Ford Motor’s Model e...
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Longeveron Inc (NASDAQ: LGVN) rallied another 50% on Thursday as investors continued to celebrate the positive update of its Lomecel-B study. Why is it significant for Longeveron stock?The biotech firm reported encouraging investigator data from the said Phase 2 trial on Tuesday. Lomecel-B is its candidate treatment for hypoplastic left heart syndrome (HLHS). Note that the ELPIS II study is still ongoing. Ram Kumar – the principal investigator of that clinical trial said in a press release today: Lomecel-B clinical data is highly encouraging and suggests it has the potential to be a new, addit...
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Tesla Inc (NASDAQ: TSLA) is pushing to the upside this morning after shareholders voted in favour of a $56 billion pay package for chief executive Elon Musk. What Musk’s pay package approval means for Tesla stock“Thanks for your support!!,” is what the billionaire wrote on X.com on Thursday – adding that his pay package was approved by a wide margin. Backing from his investors this morning removes a significant headwind from $TSLA, as per a senior Wedbush Securities analyst Dan Ives. This removes a $20 to $25 overhang on the stock in our opinion that has weighed on shares since the head-scratc...
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Signet Jewelers Ltd (NYSE: SIG) is trading up in premarket on Thursday after reporting better-than-expected per-share earnings for its first quarter. Signet Jewelers offers encouraging guidanceThe stock is gaining also because the diamond jewelery chain issued upbeat guidance for the future. $SIG now forecasts its sales to fall between $6.66 billion and $7.02 billion on up to $11.52 a share of earnings in fiscal 2025. Analysts, in comparison, were at billion and $10.55 per share, respectively. Virginia C. Drosos – the chief executive of Signet Jewelers said in a press release today: Our result...
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Broadcom Inc (NASDAQ: AVGO) is gaining in extended trading on Wednesday after coming in handily above Street estimates for its fiscal second quarter on strong AI demand. Broadcom stock climbs on future guidanceInvestors seem content also because the management issued upbeat guidance for the future. $AVGO now forecasts about $51 billion in revenue in its fiscal 2024. Analysts, in comparison, were at billion. Hock Tan – the chief executive of Broadcom Inc said in a press release today: Revenue from our AI products was a record $3.1 billion during the quarter. Infrastructure software revenue acce...
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