Mon, Jul 1, 2024 2:58 PM
Cochin Shipyard, BEL, BEML, HAL and other defence stocks rally
A Flip by Riya Sharma
Crypto strategist Pentoshi believes Bitcoin's long-term upside potential is unlimited, despite a possible 20-25% correction to $48,000-$51,000. He expects the Federal Reserve to loosen monetary policy, leading to a Bitcoin bull market, and notes that spot market ETFs and nation-states accumulating BTC will drive up demand.
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Chewy's stock jumped 28.4% in June, fueled by speculation that Ryan Cohen, CEO of GameStop, was buying shares on behalf of the company. The stock spike led majority shareholder BC Partners to sell $500 million worth of shares back to Chewy at $28.49 per share. Meanwhile, investor Keith Gill disclosed a 6.6% stake in the company, worth $250 million, suggesting Chewy is an attractive value stock.
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A Mumbai-based financial services firm held an investor camp in Chennai, promoting equity investing, but most attendees showed interest in options trading, despite knowing the high risk of losses. Meanwhile, a mid-sized mutual fund launched an index fund for defence stocks, prompting rival fund houses to question the scheme's feasibility, citing dependence on a few heavyweight stocks.
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