- The FED rate cut has made Bitcoin surge after a recent drop to $55K
- This pulled up companies such as Robinhood, Interactive Brokers Group, NVIDIA, and BlackRock
- Investors are optimistic ahead of further possible rate cuts
- Zacks Rank positively reassessed their growth rates and prospects
The long-awaited FED rate cut affected all markets, and the crypto sector was no exception.
Bitcoin-related companies have gotten a noticeable boost, and the biggest of these gains have come from the largest of them. Investors have particularly high expectations for Robinhood, Interactive Brokers Group, NVIDIA, and BlackRock.
Given that this should not be the last interest rate cut of the year, Zacks’ earnings estimates for the last 60 days have improved 38.2% for Robinhood, 4.5% for NVIDIA, 0.7% for Interactive Brokers Group, and 0.3% for BlackRock.
Details on Key Crypto Favorites
FED rate cut has caused Bitcoin to rise sharply, and up from its recent drop from a record $73.5 to $55K, where it was dragged down by the market crash in early August.
Of course, this rise has benefited not only Bitcoin but all related companies seeing their stock value increase.
Zacks Rank gave a fresh assessment of the most attractive stocks to buy and hold, which included Robinhood, Interactive Brokers Group, NVIDIA, and BlackRock.
Robinhood got Zacks Rank #1 (Strong Buy)
Robinhood Market, is one of the most key investment platforms for the US, offering stocks, exchange-traded funds, options, gold, and cryptocurrencies. Its expected earnings growth rate is 100% and the consensus earnings estimate has improved by 38.2% over the past 60 days.
Interactive Brokers Group got Zacks Rank #2 (Buy)
Interactive Brokers Group is another one of the largest investment platforms whose key feature is automated trading with offerings in IBKR commodity futures, and cryptocurrency futures. Its expected earnings growth rate is 18.4%, and the consensus earnings estimate has improved by 0.7% over the past 60 days.
BlackRock got Zacks Rank #2 (Buy) as well
Of course, this list couldn’t do without BlackRock, one of the world’s first and largest investment management firms offering Bitcoin ETFs. BlackRock’s moves are often very telling, and for many serve as a strong market indicator, including in the crypto sector. Its expected earnings growth rate is 9.5%, and the consensus earnings estimate has improved by 0.3% over the past 60 days.
NVIDIA got Zacks Rank #3 (Hold)
NVIDIA is one player this list couldn’t do without, whose hardware is powering the entire blockchain infrastructure. Its record-breaking stock rise has already become a historical phenomenon, although it has been heavily fueled by the AI boom, not without the unprecedented rise in Bitcoin adaptation over the past year. Its expected earnings growth rate is also 100%, and the consensus earnings estimate has improved by 4.5% over the past 60 days.
Conclusion
Of course, even the most authoritative assessment is just one view, and we should keep in mind that even the most reasonable and rapid-growth stocks can experience ups and downs, as was the case with NVIDIA recently.
Nevertheless, the Zacks Rank choice is more than justified, as the list of companies is really feeling the Bitcoin price first and foremost, and with further expected rate cuts, we’re likely to see the effect primarily on them.
