Heading into a new trading week, here is a quick roundup of the top five stories from the technology, corporate and cryptocurrency sectors that investors would not want to miss out on from the weekend.
1. ‘Dogecoin To $1’ Survey: Dogecoin DOGE/USD gained more than 20% over the last week after Tesla Inc. TSLA began to accept the meme cryptocurrency to buy merchandise on its online shop.
A poll conducted by Benzinga this week has revealed 60.3% of the survey respondents believe that Dogecoin — which shot to prominence last year in major part due to endorsement from Tesla CEO Elon Musk — will rise to the $1 level by 2023.
2. Cardano Rivals Ethereum In Transaction Volume: Cardano ADA/USD — the Charles Hoskinson-created cryptocurrency — surged 8% over the 24-hour period as of early Tuesday and was the second-most mentioned coin on Twitter.
Hoskinson responded to two separate tweets that noted Cardano was the number two blockchain on Tuesday in terms of 24-hour transaction volumes and that it had similar or higher transaction volume compared to its perceived rival Ethereum in the preceding 24 hours.
3. Starbucks' Partnership With Meituan: Starbucks Corp. SBUX is expanding its delivery footprint in China by entering into a new partnership with food delivery giant Meituan MPNGY.
The Seattle-based coffee chain has utilized Chinese e-commerce giant Alibaba Group Holding Limited’s BABA Ele.me as its exclusive delivery partner since 2018.
4. Tesla Loses Top Spot in Ark Investment ETF: For the first time in years, Tesla has fallen to the second spot among the top holdings in one of Cathie Wood-led Ark Investment Management’s active exchange-traded funds (ETFs). Tesla’s position has been taken by cryptocurrency exchange Coinbase Global Inc. COIN in the Ark Next Generation Internet ETF ARKW.
5. More Vegan Options By Fast-Food Chains: The soaring demand for plant-based foods has led to fast-food chains such as Yum Brands! Inc.'s YUM KFC, Restaurant Brands International Inc.’s QSR Burger King, and McDonald’s Corp. MCD offering vegan food to their customers.
What Else: Among other stories from the weekend, investors would want to check out the EV week in review, the nine star athletes who receive a part of their salary in Bitcoin, and whether ‘Silent Sea” will be Netflix Inc.’s NFLX next big foreign hit.
“Scream,” which was released by ViacomCBS Inc.’s VIAC Paramount unit, has dethroned “Spider-Man: No Way Home” to emerge as the top title at the U.S. box office this weekend.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.