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Robinhood stock on it's way to reach $15?

Robinhood stock on it's way to reach $15?

Robinhood stock (NASDAQ: HOOD) experienced a significant gain of 28.86% in the previous month and attempted to break the $13.00 level, forming a bullish continuation pattern. The stock climbed above

the 50-day and 200-day Exponential Moving Averages (EMAs), indicating an uptrend. The positive sentiment was triggered when the stock broke the $10.00 hurdle, leading to higher highs and a 30% rally in a short period of time. However, after releasing quarterly earnings, the stock fell 5.47% in the after-hours session. Despite beating earnings estimates, the stock reacted negatively. Nonetheless, there is optimism that the stock will remain in an upward direction as long as it sustains above $10.00, with a potential target of reaching $15.00.

Technical levels show resistance at $13.23 and $15.00,

and support at $10.00 and $9.00.

The information provided is for informational purposes only and does not constitute financial advice.

Old Dominion Freight Line Inc Stock Has Done Wonders

  • Old Dominion Freight Lines (NASDAQ: ODFL) has seen increased interest from institutional investors, with firms like Fidelity Investments and Renaissance Technologies raising their stakes in the company.
  • The bankruptcy of Yellow Corporation, a major player in the trucking industry, presents an opportunity for other LTL carriers like Old Dominion Freight Lines to benefit from increased demand.
  • Old Dominion Freight Lines is one of the largest LTL carriers in the US, providing regional, inter-regional, and national services. Its revenue is tied to the health of the US domestic economy.
  • The trucking industry is highly competitive, but Old Dominion stands out with its focus on customer service, reliability, and fast transit times.
  • The company's management is shareholder-friendly, with a solid capital allocation strategy that includes share buybacks and dividends.
  • Old Dominion Freight Lines operates efficiently, generating high returns on invested capital and reinvesting back into the business.
  • The company has shown sustained growth in revenue, gross profit, and earnings over the years.
  • However, the stock seems to be trading at an expensive valuation, with a high implied growth rate in free cash flow over the next 10 years. The sustainability of this growth rate is uncertain.

Social media bots suspected in possible FTX crypto price manipulation, reveals report

A report by the Network Contagion Research Institute (NCRI) suggests that social media activity, particularly from inauthentic accounts, may have significantly influenced the value of certain cryptocurrencies listed on the now-defunct FTX exchange. The report indicates that Twitter activity surrounding FTX-listed tokens like Gala (GALA) and ImmutableX (IMX) involved a substantial number of bot-like and inauthentic accounts, comprising around 20% of total online discussions about these assets. In some cases, the inauthentic Twitter activity appeared to predict subsequent price changes for half of the FTX-listed tokens studied. Although the report doesn't directly accuse FTX of deploying bots, it highlights suspicious activity around tokens after they were listed on the exchange. The researchers call for greater transparency and oversight in cryptocurrency markets to counter potential manipulation through coordinated social media activity. They also express concern about social media companies limiting data accessibility for external analysts, which could hinder the identification of fraudulent activities that impact cryptocurrency prices.