These 10 Stocks With Digital Asset Exposure Have Bullish Charts, BofA Says

Bank of America (BofA) highlighted 10 bullish charts for stocks with digital asset exposure, according to a research note Friday.

The stocks are Advanced Micro Devices (AMD), American Express (AXP), Bunge (BG), Exelon (EXC), Facebook (FB), JB Hunt (JBHT), JPMorgan (JPM), SVB Financial (SIVB), Tesla (TSLA) and Workday (WDAY).
Advanced Micro stock may have upside to $138 to $150, American Express upside $202 to $208, Exelon upside to $67-$72 and SVB Financial upside to $750 and $800, according to BofA technical research strategist Stephen Suttmeier.
Bank of America earlier this week added 23 more stocks to its equities research coverage “that may see market value expansion due to digital asset exposure,” according to a research note dated Oct. 18.
The U.S. bank launched its digital asset research team on Oct. 4 with a report listing 20 companies, and said that its “research aims to explore the implications across industries including finance, technology, supply chains, social media and gaming.”
Its analysts reiterated in the latest report that with $2.5 trillion in market value and more than 200 million users, the “digital asset universe is too large to ignore.”

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Josh Fineman

Josh Fineman is CoinDesk's Senior Wall Street Reporter, covering the intersection of crypto and traditional finance.

Follow @jfineman on Twitter

Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.