Benzinga - by Chris Katje, Benzinga Staff Writer.
Each week, Benzinga’s Stock Whisper Index uses a combination of proprietary data and pattern recognition to showcase five stocks that are just under the surface and warrant attention.
Investors are constantly on the hunt for undervalued, under-followed and emerging stocks. With countless methods available to retail traders, the challenge often lies in sifting through the abundance to uncover new information.
This index layers editorial commentary to help make sense of why these stocks should be of interest and whether investors or casual readers should watch them.
Related Link: How To Buy Bitcoin
Here is a look at the Benzinga Stock Whisper Index for the week of Dec. 22:
Marathon Digital Holdings (NASDAQ:MARA) is up over 600% year-to-date. The company’s shares have increased due to the rise of Bitcoin and increased analyst attention. HC Wainwright & Co. analyst Kevin Dede recently upped the stock price target from $20 to $24 and maintained a Buy rating. The Bitcoin (CRYPTO: BTC) mining company recently acquired two more mining sites for $1878.6 million, growing its capacity for 2024.
HOOKIPA Pharma (NASDAQ:HOOK) rose over 50% this week with news that Gilead Sciences Inc (NASDAQ:GILD) purchased 15 million shares of the company. The purchase price was $21.25 or $1.4167 per share, which is above the current share price for the clinical-stage biopharma company. HOOKIPA also has the right to sell an additional $8.75 million of shares to Gilead in potential future equity raises. HOOKIPA and Gilead entered into a stock purchase agreement back in 2022. Gilead owns around 19.4% of HOOKIPA after the latest transaction. HOOKIPA recently received FDA clearance for its Investigational New Drug HB-500 and plans to being Phase 1 trials in the first half of 2024.
Ebang International Holdings (NASDAQ:EBON) saw shares rise over 50% in the last week. Interest in the ASIC chip design company has increased, which could be related to increased volatility for Bitcoin-related companies. Ebang is a manufacturer of Bitcoin mining machines. Shares of Ebang are up over 340% year-to-date in 2023.
Canaan Inc (NASDAQ:CAN) is a maker of blockchain computing equipment, covering Bitcoin mining machines and parts. Shares of Canaan are up over 50% in the last month. In November, the company announced third-quarter financial results that saw earnings per share and sales both come in ahead of analyst estimates.
Warner Bros. Discovery (NASDAQ:WBD) saw shares decline over the week with rumors circulating that the company is exploring a potential merger with peer company Paramount Global Inc (NASDAQ:PARA)(NASDAQ:PARAA). Together, the two companies would have a vast library of content, several top-performing cable channels, the CBS broadcast network, multiple sports media rights deals and two streaming platforms. Needham analyst Laura Martin said the two companies could maximize value with the merger. LightShed Partners analyst Rich Greenfield was less enthusiastic about the deal, saying the merger doesn't fix problems for either company and they should both focus on content instead of streaming.
Stay tuned for next week’s report, and follow Benzinga Pro for all the latest headlines and top market-moving stories here.
Read the latest Stock Whisper Index reports here:
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