The wild price swings among the sectors continued in the last day. Discount trading firms Robinhood (HOOD) and Futu Holdings (FUTU) broke out of their recent uptrend. Renewed momentum for the U.S. Clarity Act, which regulates cryptocurrencies, lifted those stocks.
Higher crypto trading volumes would increase revenues for Robinhood and Coinbase (COIN). HOOD stock gained 13% in the last week while COIN stock jumped by 25.6%. Short interest on Coinbase shares is at 10.12%.
In the storage sector, Marvell Technology (MRVL) fell to its 50-day moving average, down by 5.57% last Friday. The firm will expand its range of custom silicon programs that attach to Alphabet’s (GOOG) TPU chip. That includes AI inference accelerators, storage and network controllers, and near-memory compute.
Edison International (EIX) revisited the $70 lows. Earlier this month, the LA County report wrote that electrical sparks from EIX’s out-of-service transmission tower caused California’s Eaton fire. The firm already took responsibility for the fire. It offered more than $775 million in funds to support the Wildfire Recovery Compensation Program.
EIX stock is a compelling investment. Its dividend yields 4.83%. The firm has good value, strong profitability, and saw bullish EPS and revenue revisions from analysts in the last three months.
Edison’s peers include PG&E (PCG), ConEd (ED), and The Southern Company (SO).
