Each week, Benzinga’s Stock Whisper Index uses a combination of proprietary data and pattern recognition to showcase five stocks just under the surface and warrant attention.
Investors are constantly on the hunt for undervalued, under-followed and emerging stocks. With countless methods available to retail traders, the challenge often lies in sifting through the abundance to uncover new information.
This index layers editorial commentary to help make sense of why these stocks should be of interest and whether investors or casual readers should watch them.
Related Link: Nvidia Tops in Popularity Among S&P 500 Semiconductor Stocks, Analyst Sees Room for Growth
Here is a look at the Benzinga Stock Whisper Index for the week of March 8:
Lytus Technologies Holdings LYT: The content and streaming company saw shares surge this week after announcing the launch of Lytus Cloud. The launch will help Lytus enter the huge cloud infrastructure market.
"Lytus Cloud will serve as the foundational backbone for all of our technology-driven ventures, presenting us with a remarkable opportunity to build a cutting-edge platform that drives growth and revenue on a global scale," Lytus Technologies CEO Dharmesh Pandya said.
Shares of Lytus were halted several times on Thursday and up over 500% at one point during the intraday. The stock has since fallen, but shares remain up over 175% in the last five trading days. The company conducted a reverse split in February, which makes Lytus a low-float stock and highly volatile to any upcoming news items.
MicroStrategy Inc MSTR: The software company and major Bitcoin BTC/USD holder makes a repeat appearance on the Stock Whisper Index. While investors have been flocking to Bitcoin ETFs, MicroStrategy stock could also be appealing to investors given its large Bitcoin holdings. The company added 3,000 BTC between Feb. 15 and Feb. 25. The company now owns 193,000 Bitcoin with an average price point of $31,544.
Company Executive Chairman Michael Saylor previously told Benzinga that the company's "simple strategy" is to acquire Bitcoin and hold the Bitcoin. MicroStrategy recently announced $700 million in senior notes that it will be using for corporate purposes and to buy more Bitcoin.
Shares of MicroStrategy are up 469% over the last year and up 113% year-to-date in 2024, outperforming Bitcoin, which is up 211% and 53% respectively.
ON Semiconductor Corporation ON: The semiconductor stock saw increased interest from investors this week, which comes with limited news for the company. Shares of semiconductor companies have been highly volatile and in some cases trading much higher over the last year. Shares of ON Semiconductor are down over the last year and down year-to-date. Analysts with new notes in February have Neutral and Buy ratings with price targets mostly ranging from $75 to $90. The stock bears monitoring as it could be a semiconductor company that has not run yet in the current cycle.
SoFi Technologies SOFI: Shares of the fintech company traded lower after announcing a $750 million convertible senior notes offering. The company said the proceeds would be used to help fund entering capped call transactions and for general corporate purposes. Benzinga recently shared that with the price of SoFi shares down, traders on Reddit were discussing if this was a buy-the-dip opportunity.
Prologics PLD: The industrial real estate investment trust saw increased interest, which could be due to investors fearing more downside for commercial real estate. Prologics is a leader in logistics real estate, holding industrial and logistics facilities. The company calls itself a leader in the sector and said that 2.8% of the world's GDP flows through its distribution centers annually.
Stay tuned for next week’s report, and follow Benzinga Pro for all the latest headlines and top market-moving stories here.
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