From NASDAQ: 2024-05-02 07:00:00

Pinterest was named the Bull of the Day by Zacks Equity Research after reporting strong Q1 results, including surpassing earnings and revenue estimates. Analysts praised the company’s growth in advertising technology and strong partnerships with Google and Amazon, leading to increased advertiser spending and improved return on ad spend.

On the flip side, Tesla was labeled as the Bear of the Day by Zacks Equity Research due to declining earnings estimates ahead of its Q1 report. Shares fell below $140 as profits were expected to drop by 20% annually. Analysts are cautious about Tesla’s cost-cutting efforts and the impact on sales and profits.

The cryptocurrency market saw a decline in April following the Bitcoin halving event, which occurs every four years to cap Bitcoin’s global circulation at 21 million. Analysts believe the event could lead to a scarcity-driven price increase for Bitcoin in the upcoming months. Despite ongoing volatility, analysts expect crypto stocks like Coinbase Global, Inc. and Robinhood Markets, Inc. to perform well in 2024.

Read more at NASDAQ.: Pinterest and Tesla have been highlighted as Zacks Bull and Bear of the Day