Today is Monday, August 14, 2023.
The Early Bird Index today is 57.15.
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Top AI, EV Stock Picks in 2023
Here are the top electric vehicle and artificial intelligence stock picks for the rest of the year, as explained by Tastylive.com Host Mike Butler in a new episode of the Early Bird podcast.
Details: Legacy automakers involved in EVs are stocks to look at, especially since a few have partnered with Tesla (Nasdaq: TSLA) on charging ports, according to Butler.
Also: With so much volatility in the EV space, Butler recommends focusing on stocks that are household names instead of smaller companies with lower volume and lower interest.
Powering the Story: Butler says that AI is not a bubble. He expects AI to power the tech sector in the second half of 2023.
Yes, But: Watch out for stocks that you wouldn't expect to be in AI that are now touting the technology, according to Butler.
Final Thoughts: What specific EV and AI stocks should you keep an eye on (and avoid) for the rest of 2023? Find out by listening to a new episode of the Early Bird podcast.
Notable Earnings Today: Getty Images Holdings (NYSE: GETY), JinkoSolar (NYSE: JKS), Heron Therapeutics (Nasdaq: HRTX), Rumble (Nasdaq: RUM), Li-Cycle Holdings (NYSE: LICY), Suncor (NYSE: SU), Monday.com (Nasdaq: MNDY), BioXcel Therapeutics (Nasdaq: BTAI), Rockwell Medical (Nasdaq: RMTI), Green Power Motor Company (Nasdaq: GP), Urban-Gro (Nasdaq: UGRO), Canoo (Nasdaq: GOEV), Embraer SA (NYSE: EJR), Navitas (Nasdaq: NVTS), Roivant Sciences (Nasdaq: ROIVW), AST SpaceMobile (Nasdaq: ASTS), 22nd Century Group (Nasdaq: XXII), Hut 8 Mining (Nasdaq: HUT).
Notable IPOs Today: Diebold Nixdorf, Incorporated (NYSE: DBD).
Notable Equity Crowdfunding Campaigns Ending Today: Curtiss Motorcycle (Wefunder), BioCertica, Inc. (Republic), FC Tucson (StartEngine).
Notable Economic Events Today: N/A.
US Steel Gets Acquisition Offer
Photo by yasin hemmati / Unsplash
Details: On Sunday, US Steel said it started a formal review process to evaluate strategic alternatives for the company, meaning offerings to acquire US Steel. The company did not give a deadline or timetable to complete the process.
Powering the Story: Cleveland-Cliffs said that it submitted an offer to US Steel on July 28 to acquire the company at a per-share value of $17.50 in cash and 1.023 shares of Cliffs stock, which represented a 42% premium to US Steel’s stock price. US Steel rejected the offer and said it was “unreasonable.”
Stock Price: This year, US Steel is down 9% and Cleveland-Cliffs is down 12%.
Final Thoughts: It has been a rough year for investors of both companies. If Cleveland-Cliffs acquired US Steel, it would shake up the materials sector. Specifically, it would overhaul the steel industry.
Toncoin’s Early August Jump
As most cryptocurrencies struggled on Sunday, Toncoin ticked up by 0.69% and jumped by 14% this week.
Background: Toncoin is the digital currency affiliated with the blockchain on The Open Network, which launched in 2020.
Final Thoughts: Like other altcoins, Toncoin can be considered a volatile asset.
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Trends to Watch
Not Good Enough: Stock Rally Stalls Despite Better-Than-Expected Earnings Season (The Wall Street Journal)
A Domino Effect: An ETF will bring a revolution for Bitcoin and other cryptocurrencies (Cointelegraph)
Big Buy: SoftBank in talks to buy Vision Fund's 25% stake in Arm (Reuters)
Traveling With AI: Chances are you haven’t used A.I. to plan a vacation. That’s about to change (CNBC)
Recession on Hold: The Fed Is Playing a Waiting Game to Try to Avoid a Recession (Bloomberg)
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