Hourly Market Review - Feb 28, 2024 14 PM

The new Bitcoin ETFs have quickly accumulated over $16 billion in assets since their launch in early January, with the total assets held by Bitcoin ETFs, including the Grayscale Bitcoin Trust, exceeding $40 billion. Wall Street is benefiting from substantial fees generated by these ETFs, particularly as Bitcoin's value has surged by 45% this year, surpassing the $60,000 mark.

The interest of Wall Street in cryptocurrencies extends beyond just ETFs. The financial industry sees these products as a gateway to a broader range of funds, trading strategies, and digital asset services, aiming to integrate cryptocurrencies into mainstream investment portfolios and tap into the global wealth management market, which is worth around $100 trillion.

Movers of the hour:

Vivani Medical is up 301.99% at $4.06.  

Bandwidth is up 50.11% at $18.24.  

Beyond Meat is up 41.48% at $10.64.  

ACM Research is up 39.24% at $30.34.  

G1 Therapeutics is up 35.00% at $3.24.  

Here are the top stocks upgraded by Wall Street analyst:

Walmart has received a rating of Buy from RBC Capital with target price dropped to $62 from $63.

Netflix has received a rating of Strong Buy from UBS with target price increased to $685 from $570.

Arm Holdings has received a rating of Neutral from New Street Research with target price increased to $110 from $110.

Unilever has received a rating of Sell from Morgan Stanley with target price dropped to $48 from $52.

Regeneron has received a rating of Buy from RBC Capital with target price increased to $1184 from $1096.

Mercadolibre has received a rating of Buy from JP Morgan with target price increased to $2150 from $2000.

Workday has received a rating of Buy from Barclays with target price dropped to $316 from $326.

Snowflake has received a rating of Strong Buy from Citigroup with target price increased to $290 from $255.