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The Zacks Analyst Blog Highlights Robinhood Markets, Interactive Brokers, NVIDIA and BlackRock
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For Immediate Release
Chicago, IL – September 25, 2024 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Robinhood Markets, Inc. (HOOD - Free Report) , Interactive Brokers Group, Inc. (IBKR - Free Report) , NVIDIA Corp. (NVDA - Free Report) and BlackRock, Inc. (BLK - Free Report) .
Here are highlights from Tuesday’s Analyst Blog:
4 Bitcoin-Centric Stocks to Gain from Recent Fed Rate Cut
The cryptocurrency rally that had stalled for some time has started showing signs of a solid rebound. Bitcoin (BTC), which surged above $60,000 ahead of the Federal Reserve's rate cut announcement, was trading above $63,600 on Monday.
The Federal Reserve interest rate cut announced last week has been helping Bitcoin bounce back from its recent lows. Experts had predicted that Bitcoin still has a lot of potential and the recent decline was temporary. Given this scenario, it would be ideal to invest in Bitcoin-centric stocks such as Robinhood Markets, Inc., Interactive Brokers Group, Inc., NVIDIA Corp. and BlackRock, Inc..
Bitcoin Rebounds on Rate Cut Announcement
On Monday, Bitcoin was trading at $63,658.52 after surpassing the $60,000 mark for the first time in more than a month ahead of the Federal Reserve's rate cut announcement.
Bitcoin's price declined substantially after hitting an all-time high of $73,750 on Mar 14. The cryptocurrency saw its price falling below $55,000 in early August after a broader market bloodbath on fears of a slowing economy.
Prior to that, the halving event also failed to boost Bitcoin. The halving event, which usually reduces the reward for mining new Bitcoin blocks by 50% to cap the total supply at 21 million, often leads to higher demand and prices.
However, following the latest halving, Bitcoin's value saw a significant decline.
Rate Cuts to Boost Bitcoin
The rate cut was highly anticipated to boost Bitcoin and did so. Market participants had expected that the Federal Reserve would go for a 25-basis point rate cut. However, the Fed cut interest rates by 50 basis points in its bid to help boost the health of the broader economy.
Bitcoin has since been on a rally. Lower interest rates typically help growth assets like cryptocurrencies because it lowers the opportunity cost of holding non-yielding assets. In a low-interest-rate setting, investors are more likely to seek out assets with higher potential returns, even if they come with increased risk.
Also, the rate cut cycle has just begun. Market participants are hopeful about another 50 basis-point rate cut in total this year, which bodes well for the cryptocurrency market.
4 Crypto-Centric Stocks With Scope for Upside
We have narrowed our search to four crypto-oriented stocks that have strong potential for 2024. Each of our picks carries either a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). You can see the complete list of today's Zacks #1 Rank stocks here.
Robinhood Markets
Robinhood Markets operates a financial services platform in the United States. Its platform allows users to invest in stocks, exchange-traded funds, options, gold, and cryptocurrencies. HOOD buys and sells Bitcoin, Ethereum, Dogecoin and other cryptocurrencies using its Robinhood Crypto platform.
Robinhood Markets' expected earnings growth rate for the current year is more than 100%. The Zacks Consensus Estimate for current-year earnings has improved 38.2% over the past 60 days. Robinhood Markets currently sports a Zacks Rank #1.
Interactive Brokers Group
Interactive Brokers Group is a global automated electronic broker. IBKR executes, processes and trades in cryptocurrencies. IBKR's commodities futures trading desk also offers customers a chance to trade cryptocurrency futures.
Interactive Brokers Group has an expected earnings growth rate of 18.4% for the current year. The Zacks Consensus Estimate for current-year earnings has improved 0.7% over the past 60 days. IBKR currently carries a Zacks Rank #2.
NVIDIA
NVIDIA is the worldwide leader in visual computing technologies and the inventor of the graphic processing unit, or GPU. Over the years, NVDA's focus has evolved from PC graphics to artificial intelligence-based solutions that now support high-performance computing, gaming and virtual reality platforms.
NVIDIA has an expected earnings growth rate of more than 100% for the current year. The Zacks Consensus Estimate for current-year earnings has improved 4.5% over the past 60 days. NVDA presently carries a Zacks Rank #3.
BlackRock
BlackRock is one of the world's largest investment managers and is publicly owned. BLK was one of the first companies from the traditional market to join the Bitcoin ETF race back in June 2023.
BlackRock's expected earnings growth rate for the current year is 9.5%. The Zacks Consensus Estimate for current-year earnings has improved 0.3% over the past 60 days. BlackRock currently carries a Zacks Rank #2.
Why Haven't You Looked at Zacks' Top Stocks?
Since 2000, our top stock-picking strategies have blown away the S&P's +7.0 average gain per year. Amazingly, they soared with average gains of +44.9%, +48.4% and +55.2% per year.
Today you can access their live picks without cost or obligation.
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
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The Zacks Analyst Blog Highlights Robinhood Markets, Interactive Brokers, NVIDIA and BlackRock
For Immediate Release
Chicago, IL – September 25, 2024 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Robinhood Markets, Inc. (HOOD - Free Report) , Interactive Brokers Group, Inc. (IBKR - Free Report) , NVIDIA Corp. (NVDA - Free Report) and BlackRock, Inc. (BLK - Free Report) .
Here are highlights from Tuesday’s Analyst Blog:
4 Bitcoin-Centric Stocks to Gain from Recent Fed Rate Cut
The cryptocurrency rally that had stalled for some time has started showing signs of a solid rebound. Bitcoin (BTC), which surged above $60,000 ahead of the Federal Reserve's rate cut announcement, was trading above $63,600 on Monday.
The Federal Reserve interest rate cut announced last week has been helping Bitcoin bounce back from its recent lows. Experts had predicted that Bitcoin still has a lot of potential and the recent decline was temporary. Given this scenario, it would be ideal to invest in Bitcoin-centric stocks such as Robinhood Markets, Inc., Interactive Brokers Group, Inc., NVIDIA Corp. and BlackRock, Inc..
Bitcoin Rebounds on Rate Cut Announcement
On Monday, Bitcoin was trading at $63,658.52 after surpassing the $60,000 mark for the first time in more than a month ahead of the Federal Reserve's rate cut announcement.
Bitcoin's price declined substantially after hitting an all-time high of $73,750 on Mar 14. The cryptocurrency saw its price falling below $55,000 in early August after a broader market bloodbath on fears of a slowing economy.
Prior to that, the halving event also failed to boost Bitcoin. The halving event, which usually reduces the reward for mining new Bitcoin blocks by 50% to cap the total supply at 21 million, often leads to higher demand and prices.
However, following the latest halving, Bitcoin's value saw a significant decline.
Rate Cuts to Boost Bitcoin
The rate cut was highly anticipated to boost Bitcoin and did so. Market participants had expected that the Federal Reserve would go for a 25-basis point rate cut. However, the Fed cut interest rates by 50 basis points in its bid to help boost the health of the broader economy.
Bitcoin has since been on a rally. Lower interest rates typically help growth assets like cryptocurrencies because it lowers the opportunity cost of holding non-yielding assets. In a low-interest-rate setting, investors are more likely to seek out assets with higher potential returns, even if they come with increased risk.
Also, the rate cut cycle has just begun. Market participants are hopeful about another 50 basis-point rate cut in total this year, which bodes well for the cryptocurrency market.
4 Crypto-Centric Stocks With Scope for Upside
We have narrowed our search to four crypto-oriented stocks that have strong potential for 2024. Each of our picks carries either a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). You can see the complete list of today's Zacks #1 Rank stocks here.
Robinhood Markets
Robinhood Markets operates a financial services platform in the United States. Its platform allows users to invest in stocks, exchange-traded funds, options, gold, and cryptocurrencies. HOOD buys and sells Bitcoin, Ethereum, Dogecoin and other cryptocurrencies using its Robinhood Crypto platform.
Robinhood Markets' expected earnings growth rate for the current year is more than 100%. The Zacks Consensus Estimate for current-year earnings has improved 38.2% over the past 60 days. Robinhood Markets currently sports a Zacks Rank #1.
Interactive Brokers Group
Interactive Brokers Group is a global automated electronic broker. IBKR executes, processes and trades in cryptocurrencies. IBKR's commodities futures trading desk also offers customers a chance to trade cryptocurrency futures.
Interactive Brokers Group has an expected earnings growth rate of 18.4% for the current year. The Zacks Consensus Estimate for current-year earnings has improved 0.7% over the past 60 days. IBKR currently carries a Zacks Rank #2.
NVIDIA
NVIDIA is the worldwide leader in visual computing technologies and the inventor of the graphic processing unit, or GPU. Over the years, NVDA's focus has evolved from PC graphics to artificial intelligence-based solutions that now support high-performance computing, gaming and virtual reality platforms.
NVIDIA has an expected earnings growth rate of more than 100% for the current year. The Zacks Consensus Estimate for current-year earnings has improved 4.5% over the past 60 days. NVDA presently carries a Zacks Rank #3.
BlackRock
BlackRock is one of the world's largest investment managers and is publicly owned. BLK was one of the first companies from the traditional market to join the Bitcoin ETF race back in June 2023.
BlackRock's expected earnings growth rate for the current year is 9.5%. The Zacks Consensus Estimate for current-year earnings has improved 0.3% over the past 60 days. BlackRock currently carries a Zacks Rank #2.
Why Haven't You Looked at Zacks' Top Stocks?
Since 2000, our top stock-picking strategies have blown away the S&P's +7.0 average gain per year. Amazingly, they soared with average gains of +44.9%, +48.4% and +55.2% per year.
Today you can access their live picks without cost or obligation.
See Stocks Free >>
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Zacks Investment Research
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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.