David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the permanent loss of capital.' When we think about how risky a company is, we always like to look at its use of debt, since debt overload can lead to ruin. We note that Siemens Healthineers AG (ETR:SHL) does have debt on its balance sheet. But is this debt a concern to shareholders?

Debt is a tool to help businesses grow, but if a business is incapable of paying off its lenders, then it exists at their mercy. In the worst case scenario, a company can go bankrupt if it cannot pay its creditors. However, a more frequent (but still costly) occurrence is where a company must issue shares at bargain-basement prices, permanently diluting shareholders, just to shore up its balance sheet. Of course, plenty of companies use debt to fund growth, without any negative consequences. The first step when considering a company's debt levels is to consider its cash and debt together.

View our latest analysis for Siemens Healthineers

The chart below, which you can click on for greater detail, shows that Siemens Healthineers had 15.7b in debt in March 2024; about the same as the year before. However, because it has a cash reserve of 2.31b, its net debt is less, at about 13.4b.

Zooming in on the latest balance sheet data, we can see that Siemens Healthineers had liabilities of 10.8b due within 12 months and liabilities of 16.8b due beyond that. Offsetting these obligations, it had cash of 2.31b as well as receivables valued at 6.26b due within 12 months. So its liabilities total 19.1b more than the combination of its cash and short-term receivables.

This deficit isn't so bad because Siemens Healthineers is worth a massive 59.8b, and thus could probably raise enough capital to shore up its balance sheet, if the need arose. But it's clear that we should definitely closely examine whether it can manage its debt without dilution.

We use two main ratios to inform us about debt levels relative to earnings. The first is net debt divided by earnings before interest, tax, depreciation, and amortization (EBITDA), while the second is how many times its earnings before interest and tax (EBIT) covers its interest expense (or its interest cover, for short). The advantage of this approach is that we take into account both the absolute quantum of debt (with net debt to EBITDA) and the actual interest expenses associated with that debt (with its interest cover ratio).

Siemens Healthineers has net debt to EBITDA of 3.7 suggesting it uses a fair bit of leverage to boost returns. On the plus side, its EBIT was 8.9 times its interest expense, and its net debt to EBITDA, was quite high, at 3.7. If Siemens Healthineers can keep growing EBIT at last year's rate of 20% over the last year, then it will find its debt load easier to manage. The balance sheet is clearly the area to focus on when you are analysing debt. But it is future earnings, more than anything, that will determine Siemens Healthineers's ability to maintain a healthy balance sheet going forward. So if you want to see what the professionals think, you might find this free report on analyst profit forecasts to be interesting.

Finally, a business needs free cash flow to pay off debt; accounting profits just don't cut it. So we clearly need to look at whether that EBIT is leading to corresponding free cash flow. During the last three years, Siemens Healthineers produced sturdy free cash flow equating to 60% of its EBIT, about what we'd expect. This cold hard cash means it can reduce its debt when it wants to.

The good news is that Siemens Healthineers's demonstrated ability to grow its EBIT delights us like a fluffy puppy does a toddler. But, on a more sombre note, we are a little concerned by its net debt to EBITDA. It's also worth noting that Siemens Healthineers is in the Medical Equipment industry, which is often considered to be quite defensive. All these things considered, it appears that Siemens Healthineers can comfortably handle its current debt levels. Of course, while this leverage can enhance returns on equity, it does bring more risk, so it's worth keeping an eye on this one. When analysing debt levels, the balance sheet is the obvious place to start. But ultimately, every company can contain risks that exist outside of the balance sheet. For example Siemens Healthineers has 2 warning signs (and 1 which is a bit concerning) we think you should know about.

When all is said and done, sometimes its easier to focus on companies that don't even need debt. Readers can access a list of growth stocks with zero net debt 100% free, right now.

Find out whether Siemens Healthineers is potentially over or undervalued by checking out our comprehensive analysis, which includes fair value estimates, risks and warnings, dividends, insider transactions and financial health.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Find out whether Siemens Healthineers is potentially over or undervalued by checking out our comprehensive analysis, which includes fair value estimates, risks and warnings, dividends, insider transactions and financial health.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com

The rest is here:
Is Siemens Healthineers (ETR:SHL) A Risky Investment? - Simply Wall St

Dream Office Real Estate Investment Trust (TSE:D Free Report) Analysts at National Bank Financial boosted their FY2024 earnings per share (EPS) estimates for Dream Office Real Estate Investment Trust in a report issued on Wednesday, July 17th. National Bank Financial analyst M. Kornack now anticipates that the company will post earnings of $2.92 per share for the year, up from their previous forecast of $2.90. National Bank Financial has a Hold rating on the stock.

Dream Office Real Estate Investment Trust (TSE:D Get Free Report) last issued its quarterly earnings data on Thursday, May 9th. The company reported C$0.61 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.73 by C($0.12). The firm had revenue of C$48.50 million during the quarter.

Receive News & Ratings for Dream Office Real Estate Investment Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dream Office Real Estate Investment Trust and related companies with MarketBeat.com's FREE daily email newsletter.

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FY2024 EPS Estimates for Dream Office Real Estate Investment Trust (TSE:D) Lifted by National Bank Financial - Defense World

The recommendations of Wall Street analysts are often relied on by investors when deciding whether to buy, sell, or hold a stock. Media reports about these brokerage-firm-employed (or sell-side) analysts changing their ratings often affect a stock's price. Do they really matter, though?

Let's take a look at what these Wall Street heavyweights have to say about Apple (AAPL) before we discuss the reliability of brokerage recommendations and how to use them to your advantage.

Apple currently has an average brokerage recommendation (ABR) of 1.62, on a scale of 1 to 5 (Strong Buy to Strong Sell), calculated based on the actual recommendations (Buy, Hold, Sell, etc.) made by 30 brokerage firms. An ABR of 1.62 approximates between Strong Buy and Buy.

Of the 30 recommendations that derive the current ABR, 20 are Strong Buy and three are Buy. Strong Buy and Buy respectively account for 66.7% and 10% of all recommendations.

Brokerage Recommendation Trends for AAPL

Check price target & stock forecast for Apple here>>>

While the ABR calls for buying Apple, it may not be wise to make an investment decision solely based on this information. Several studies have shown limited to no success of brokerage recommendations in guiding investors to pick stocks with the best price increase potential.

Do you wonder why? As a result of the vested interest of brokerage firms in a stock they cover, their analysts tend to rate it with a strong positive bias. According to our research, brokerage firms assign five "Strong Buy" recommendations for every "Strong Sell" recommendation.

This means that the interests of these institutions are not always aligned with those of retail investors, giving little insight into the direction of a stock's future price movement. It would therefore be best to use this information to validate your own analysis or a tool that has proven to be highly effective at predicting stock price movements.

With an impressive externally audited track record, our proprietary stock rating tool, the Zacks Rank, which classifies stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), is a reliable indicator of a stock's near -term price performance. So, validating the Zacks Rank with ABR could go a long way in making a profitable investment decision.

Zacks Rank Should Not Be Confused With ABR

In spite of the fact that Zacks Rank and ABR both appear on a scale from 1 to 5, they are two completely different measures.

The ABR is calculated solely based on brokerage recommendations and is typically displayed with decimals (example: 1.28). In contrast, the Zacks Rank is a quantitative model allowing investors to harness the power of earnings estimate revisions. It is displayed in whole numbers -- 1 to 5.

Story continues

Analysts employed by brokerage firms have been and continue to be overly optimistic with their recommendations. Since the ratings issued by these analysts are more favorable than their research would support because of the vested interest of their employers, they mislead investors far more often than they guide.

In contrast, the Zacks Rank is driven by earnings estimate revisions. And near-term stock price movements are strongly correlated with trends in earnings estimate revisions, according to empirical research.

Furthermore, the different grades of the Zacks Rank are applied proportionately across all stocks for which brokerage analysts provide earnings estimates for the current year. In other words, at all times, this tool maintains a balance among the five ranks it assigns.

Another key difference between the ABR and Zacks Rank is freshness. The ABR is not necessarily up-to-date when you look at it. But, since brokerage analysts keep revising their earnings estimates to account for a company's changing business trends, and their actions get reflected in the Zacks Rank quickly enough, it is always timely in indicating future price movements.

Is AAPL Worth Investing In?

In terms of earnings estimate revisions for Apple, the Zacks Consensus Estimate for the current year has increased 0.1% over the past month to $6.59.

Analysts' growing optimism over the company's earnings prospects, as indicated by strong agreement among them in revising EPS estimates higher, could be a legitimate reason for the stock to soar in the near term.

The size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, has resulted in a Zacks Rank #2 (Buy) for Apple. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

Therefore, the Buy-equivalent ABR for Apple may serve as a useful guide for investors.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Apple Inc. (AAPL) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research

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Apple (AAPL) Is Considered a Good Investment by Brokers: Is That True? - Yahoo Finance

When deciding whether to buy, sell, or hold a stock, investors often rely on analyst recommendations. Media reports about rating changes by these brokerage-firm-employed (or sell-side) analysts often influence a stock's price, but are they really important?

Let's take a look at what these Wall Street heavyweights have to say about ASML (ASML) before we discuss the reliability of brokerage recommendations and how to use them to your advantage.

ASML currently has an average brokerage recommendation (ABR) of 1.32, on a scale of 1 to 5 (Strong Buy to Strong Sell), calculated based on the actual recommendations (Buy, Hold, Sell, etc.) made by 19 brokerage firms. An ABR of 1.32 approximates between Strong Buy and Buy.

Of the 19 recommendations that derive the current ABR, 16 are Strong Buy, representing 84.2% of all recommendations.

Brokerage Recommendation Trends for ASML

Check price target & stock forecast for ASML here>>>

While the ABR calls for buying ASML, it may not be wise to make an investment decision solely based on this information. Several studies have shown limited to no success of brokerage recommendations in guiding investors to pick stocks with the best price increase potential.

Do you wonder why? As a result of the vested interest of brokerage firms in a stock they cover, their analysts tend to rate it with a strong positive bias. According to our research, brokerage firms assign five "Strong Buy" recommendations for every "Strong Sell" recommendation.

In other words, their interests aren't always aligned with retail investors, rarely indicating where the price of a stock could actually be heading. Therefore, the best use of this information could be validating your own research or an indicator that has proven to be highly successful in predicting a stock's price movement.

Zacks Rank, our proprietary stock rating tool with an impressive externally audited track record, categorizes stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), and is an effective indicator of a stock's price performance in the near future. Therefore, using the ABR to validate the Zacks Rank could be an efficient way of making a profitable investment decision.

Zacks Rank Should Not Be Confused With ABR

In spite of the fact that Zacks Rank and ABR both appear on a scale from 1 to 5, they are two completely different measures.

The ABR is calculated solely based on brokerage recommendations and is typically displayed with decimals (example: 1.28). In contrast, the Zacks Rank is a quantitative model allowing investors to harness the power of earnings estimate revisions. It is displayed in whole numbers -- 1 to 5.

Story continues

Analysts employed by brokerage firms have been and continue to be overly optimistic with their recommendations. Since the ratings issued by these analysts are more favorable than their research would support because of the vested interest of their employers, they mislead investors far more often than they guide.

On the other hand, earnings estimate revisions are at the core of the Zacks Rank. And empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

Furthermore, the different grades of the Zacks Rank are applied proportionately across all stocks for which brokerage analysts provide earnings estimates for the current year. In other words, at all times, this tool maintains a balance among the five ranks it assigns.

Another key difference between the ABR and Zacks Rank is freshness. The ABR is not necessarily up-to-date when you look at it. But, since brokerage analysts keep revising their earnings estimates to account for a company's changing business trends, and their actions get reflected in the Zacks Rank quickly enough, it is always timely in indicating future price movements.

Is ASML Worth Investing In?

Looking at the earnings estimate revisions for ASML, the Zacks Consensus Estimate for the current year has increased 0.9% over the past month to $20.30.

Analysts' growing optimism over the company's earnings prospects, as indicated by strong agreement among them in revising EPS estimates higher, could be a legitimate reason for the stock to soar in the near term.

The size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, has resulted in a Zacks Rank #2 (Buy) for ASML. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

Therefore, the Buy-equivalent ABR for ASML may serve as a useful guide for investors.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

ASML Holding N.V. (ASML) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research

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Wall Street Analysts Think ASML (ASML) Is a Good Investment: Is It? - Yahoo Finance

Looking for good vibrations, brighter auras, in a dark time? Want to refocus from the demented verbiage of contemporary politics? Maybe youre ready for the City of Love Meditation Event on July 17.

Meditate Milwaukee is offering the free, one-hour online event, designed for first timers as well as seasoned meditators. Co-organizer Traci Schwartz says that the idea for the virtual session was inspired by the example of their real time event at the Riverside Theater on New Years Day, 2023. It was meditation with music, a celebration about reconnecting after Covid, she explained.By doing this virtually wed like to reach even more people than we had at the Riverside Theatre, she adds.

Likewise, the City of Love Meditation Event, scheduled for RNC week, is about communitygetting our energy to align, a chance to shift away from the feelings of negativity in our city. Organizers are hoping that the online session will draw participants from across the nation into a more thoughtful mode of thinking. In the City of Loves press release, co-organizer Kaita Bliffert stressed the importance of investing in ourselves in order to invest in each other. We see a real need for people to come together now to create a sense of compassion and understanding.

The City of Love Meditation Event will be live from 6-7 p.m., Wednesday July 17. To register, visit meditatemilwaukee.com.

David Luhrssen lectured at UWM and the MIAD. He is author of The Vietnam War on Film, Encyclopedia of Classic Rock, and Hammer of the Gods: Thule Society and the Birth of Nazism.

Jul. 11, 2024

8:12 a.m.

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Meditating During the RNC - Shepherd Express

Wisconsin-based food cooperative Organic Valley recently announced plans to welcome 100 more small organic farms to its family by the end of 2024, according to Environment+Energy Leader.

This will add to the cooperative's current network of around 1,600 family farmers. The pending additions are part of an effort to integrate farms from diverse regions like Pennsylvania, Wisconsin, New York, Indiana, Kentucky, Ohio, Missouri, and Iowa to enhance supply chain resilience and product availability nationwide.

Organic agriculture involves growing and processing food without using synthetic fertilizers or pesticides. Proponents tout its health and environmental benefits, as chronic exposure to pesticides has been linked to ailments such as cancer, diabetes, and cardiovascular disease. Certain pesticides can also act as endocrine disruptors, potentially leading to reproductive problems and developmental issues.

Pesticides also harm various creatures, including bees important crop pollinators and one study suggests that warmer temperatures are worsening these effects.

Plus, organic farming can help us in the fight against an overheating planet, according to the Natural Resources Defense Council. The organization explains that producing traditional fertilizers takes a lot of energy and that eliminating synthetic nitrogen fertilizers from global agricultural operations could lower planet-warming pollution by about 20%. Soil-boosting practices associated with organic farming also help soil store more carbon.

Organic Valley isn't the only group working to mainstream pesticide-free farming. The U.S. has 17,445 organic farms, according to 2021 Census data.

Plus, one Italian equipment manufacturer came up with a quirky and useful farming solution: a robot that can patrol vineyards, blasting fungi and mildew with Ultraviolet C (UV-C) radiation instead of utilizing chemicals.

You can also make a difference by integrating organic practices into your backyard. For instance, you can utilize plant species that attract pollinators some will even attack and kill pests for you.

You can also make an impact by supporting eco-friendly initiatives from your favorite brands.

Join our free newsletter for cool news and actionable info that makes it easy to help yourself while helping the planet.

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Major organic farming cooperative makes ambitious move to help over 100 small farms here's why it matters - Yahoo! Voices

Bitcoin has moved sharply higher this week, topping $70,000 per bitcoin after the Federal Reserve made a surprise "admission."

Subscribe now to Forbes' CryptoAsset & Blockchain Advisor and "uncover blockchain blockbusters poised for 1,000% plus gains" in the aftermath of bitcoin's halving earthquake!

The bitcoin price has come back to within touching distance of its all-time high as a top Goldman Sachs executive hails an "astonishing turning point."

Now, with U.S. Treasury secretary Janet Yellen issuing a huge $34 trillion warning that could trigger bitcoin price chaos, bitcoin has been seen to mirror a price pattern last seen in 2017just before bitcoin's "parabolic" price run.

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Bitcoin has moved sharply higher this year, putting the bitcoin price back above its 2021 all-time ... [+] high.

"You're looking at the first breakout of bitcoin against M1 money supply since March 2017 when it went historically parabolic for 9 months," an anonymous bitcoin analyst posted to X alongside a chart that showed bitcoin's breakout and retest of a so-called Bollinger band as it last did in 2017.

Bollinger bands are used by traders to chart price and volatility trends while the M1 money supply refers to cash in the economy.

"Dramatic chart," closely-followed technical analysis trader Peter Brandt replied. "This chart is amazing."

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The bitcoin price rocketed after a fleet of Wall Street ETFs hit the market.

In 2017, the bitcoin price started the year at under $1,000 per bitcoin before rocketing to a peak of around $20,000 per bitcoin in December 2017.

"Technically, bitcoin has already broken the resistance of the descending channel and is testing horizontal resistance," Alex Kuptsikevich, senior market analyst with FxPro, said in emailed comments. "The ability to go above $71,000 opens the way for a renewal of historical highs, which could happen very quickly."

Link:

Bitcoin Braced To Go 'Parabolic' After 'Amazing' 2017 Price Breakout Repeat - Forbes

Some of the most impressive advancements in AI are the development and release of GPT 3.5 and, most recently,GPT-4o, in addition to lifelike AI avatars and deepfakes. But there have been many other revolutionary achievements in AI -- too many to include here.

Here are some of the most notable.

ChatGPT is an AI chatbot capable of generating and translating natural language and answering questions. Though it's arguably the most popular AI tool, thanks to its widespread accessibility, OpenAI made significant waves in artificial intelligence by creating GPTs 1, 2, and 3 before releasing ChatGPT.

Also:6 ways ChatGPT can make your everyday life easier

GPT stands for Generative Pre-trained Transformer, and GPT-3 was the largest language model at its 2020 launch, with 175 billion parameters. Then came GPT-3.5, which powers the free tier of ChatGPT. The largest version, GPT-4, accessible through the free version of ChatGPT, ChatGPT Plus, and Microsoft Copilot, has one trillion parameters.

Though the safety of self-driving cars is a top concernfor potential users, the technology continues to advance and improve with breakthroughs in AI. These vehicles use ML algorithms to combine data from sensors and cameras to perceive their surroundings and determine the best course of action.

Also: An autonomous car that wakes up and greets you could be in your future

The autopilot feature in Tesla's electric vehicles is probably what most people think of when considering self-driving cars. But Waymo, from Google's parent company Alphabet, also makes autonomous rides -- as a driverless taxi, for example, or to deliver Uber Eats-- in San Francisco, CA, and Phoenix, AZ.

Cruise is another robotaxi service, and auto companies like Audi, GM, and Ford are also presumably working on self-driving vehicle technology.

The achievements of Boston Dynamics stand out in the area of AI and robotics. Though we're still a long way from creating Terminator-level AI technology, watching Boston Dyanmics' hydraulic, humanoid robots use AI to navigate and respond to different terrains is impressive.

Google subsidiaryDeepMindis an AI pioneer focusing on AGI. Though not there yet, the companymade headlines in 2016 for creating AlphaGo, an AI system that beat the world's best (human) professional Go player.

Since then, DeepMind has created AlphaFold, a system that can predict the complex 3D shapes of proteins. It has also developed programs to diagnose eye diseases as effectively as top doctors.

Also: What is generative AI and why is it so popular? Here's everything you need to know

See original here:

What is AI? Everything to know about artificial intelligence - ZDNet

Bitcoin Bitcoin , ethereum and the wider crypto market have been on a Washington roller coaster this weekwith a "crucial" vote still to come.

Subscribe now to Forbes' CryptoAsset & Blockchain Advisor and "uncover blockchain blockbusters poised for 1,000% plus gains" in the aftermath of bitcoin's halving earthquake!

The bitcoin price has been boosted by a Democratic vibe shift that's been credited with potentially helping to change the U.S. Securities and Exchange Commission's (SEC) stance on the approval of a number of spot ethereum exchange-traded funds (ETFs) ahead of an expected decision this week.

Now, Galaxy Digital chief executive Mike Novogratz, a former Goldman Sachs partner and crypto stalwart, has predicted bitcoin, ethereum and crypto prices "are going to be much higher than here" due to the political sea-change.

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U.S. president Joe Biden has been cast as the anti-crypto candidate as former president Donald Trump ... [+] embraces bitcoin, ethereum and crypto.

A "widespread shift amongst Democrats" over the last 24 hours has led the SEC to reverse course on its planned rejection of spot ethereum ETFs this week, according to Novogratz, who told CNBC: "It feels like someone at the Biden White House made a call and said Guys, we cant be the party against crypto anymore.'"

The crypto divide between Trump and president Joe Biden has "set off a firestorm" in Washington D.C., according to Novogratz. "It almost became a purity testRepublican good for crypto, Democrat bad for crypto. And the Democratic regime woke up and said 'This is crazy.'"

The ethereum price rocketed around 30% this week after Barron's reported the SEC had notified the exchanges on which the ethereum ETFs would possibly trade that it's leaning toward approval. Earlier this week, Bloomberg Intelligence ETF analysts James Seyffart and Eric Balchunas suggested the SEC's u-turn on whether to approve the ethereum ETFs was due to the changing political winds.

Elsewhere, the U.S. House of Representatives is expected on Wednesday to vote on the Financial Innovation and Technology for the 21st Century Act known as Fit21 which would split up responsibility for cryptocurrency regulation between the SEC and the Commodities Futures Trading Commission (CFTC).

Nancy Pelosi, California Democrat and speaker emerita, is considering voting for the Republican-backed crypto bill, it was reported by The American Prospect, citing anonymous sources.

Sign up now for CryptoCodexA free, daily newsletter for the crypto-curious

The bitcoin price has rocketed higher this year, climbing along with the ethereum price and wider ... [+] crypto market.

At least eight House Democrats are vocally supporting the bill, according to a memo shared with Coindesk by a congressional aide. Senior Democrats have said they "strongly oppose" the bill but are not whipping their members against it, Politico reported.

Last week, 60 crypto companies and organizations including Gemini, Kraken, Coinbase and the Digital Currency Group (DCG) signed a letter in support of the bill.

Meanwhile, a high profile crypto executive who met with former president Donald Trump earlier this month, said he expects president Joe Biden to drop his threatened veto of a motion to repeal SAB 121, a controversial crypto accounting rule that locks the biggest Wall Street giants out of crypto custody services.

Read the original:

Biden's 'Seismic Shift' Could Be About To Trigger A Huge Bitcoin Price Earthquake After Ethereum 'Firestorm' - Forbes

GameStop GameStop stock rocketed higher before crashing back to earth last week following the following the return of meme stock hero Roaring Kitty (AKA Keith Gill) to social media.

Subscribe now to Forbes' CryptoAsset & Blockchain Advisor and "uncover blockchain blockbusters poised for 1,000% plus gains" in the aftermath of bitcoin's halving earthquake!

The price of GameStop shares almost doubled in a matter of days last week, rekindling some of the excitement seen during the meme stock craze of 2021 that also saw the bitcoin price and other cryptocurrencies whipped up to astronomical heights.

Now, meme stock traders are turning to crypto exchange Coinbase, rallying on the messaging app Telegram.

Sign up now for the free CryptoCodexA daily five-minute newsletter for traders, investors and the crypto-curious that will get you up to date and keep you ahead of the bitcoin and crypto market bull run

Roaring Kitty, AKA Keith Gill, helped the meme stock craze to return last week, boosting the price ... [+] of GameStop shares, with traders now turning to a bitcoin and crypto stock.

The Covid-era Telegram group WallStretBets, which boasts an active userbase of 41,000 traders, is spamming "Coinbase to the moon" in an attempt to boost the share price of the crypto exchange.

"Who will buy Coinbase with me next week," one user of the WallStretBets Telegram group asked.

Coinbase has already seen its share price soar this year thanks to the rising price of bitcoin and the debut of a fleet of spot bitcoin exchange-traded funds (ETFs) on Wall Street, most of which Coinbase is acting as custodian for.

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The bitcoin price has surged this year, helping the price of Coinbase stock and the wider crypto ... [+] market recover from its 2022 price crash.

Last week, Wall Street giant Bank of America upgraded Coinbase to neutral from underperform, raising its price target on the company's stock to $217 from $110.

Coinbase stock is up 300% from its early 2023 low of $33.

See the original post:

After GameStop Price Crash, Meme Stock Traders Have A Surprising New Bitcoin And Crypto Target - Forbes