LikeFolio Weekly Roundup

September 27, 2024

Autonomous driving stocks and crypto-related stocks received nice boosts to the upside this week. All in all, pretty solid across our portfolio. Here is a summary of the largest moves of the week through close on Thursday, Sept. 27.

Aurora Innovations (AUR): +16%

Aurora Innovation continues its trek higher, up more han +130% in the last 3 months alone. The company is benefitting from rising interest in self-driving technology, especially ahead of TSLA's robotaxi event in October and from the Fed's decision to cut rates. No new announcements from the company itself to note.

Crypto Positions - Marathon Digital (MARA): +12%, Coinbase (COIN): +5%

Crypto players Coinbase and Marathon Digital are trading higher this week as the price of Bitcoin rises. Bitcoin crossed $66k on Friday, a level not attained since July earlier this year. We expect Bitcoin and crypto-adjacent plays to move higher through the end of the year.

Mobileye (MBLY): +11%

Mobileye, like AUR and TSLA, is moving higher this week as the market's interest and sentiment toward autonomous vehicle technology rises. We see autonomous driving tech as one of the largest macro trends to follow over the next 3 years. Mobileye, in particular, recevied a boost after Intel affirmed it's stake earlier this month. At LikeFolio, we like the company's renewed focus and potential for efficiency improvements amid the de-emphasization of lidar technology.

Advanced Micro Devices (AMD): +7%

AMD shares moved higher this week after a positive note from Wedbush, which reaffirmed its Outperform rating. AMD recently acquired ZT Systems for $4 billion, capitalizing on market conditions to secure the company at a discount. This deal will strengthen AMD's position against competitors like NVIDIA by expanding its server capabilities and unlock long-term value for AMD.

Check out three more big movers here...

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