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Cryptocurrencies including Bitcoin, Ethereum, and Dogecoin have declined amid $116M in liquidations. Celestia's TIA token outperformed major cryptos with a 685% surge. Ark Invest sold Coinbase and Robinhood shares due to crypto volatility. FedEx reported downbeat earnings, affecting pre-market stock movement. US politics and upcoming elections are influencing tech companies' actions, with Apple advising staff on watch sales and Meta and Google limiting AI-related election queries. Tesla faces challenges with a massive vehicle recall and halted merit-based equities for employees.

Portfolio Pulse from Akanksha Bakshi

December 20, 2023 | 1:56 pm

LQR

LQR House has canceled all outstanding representative warrants held by EF Hutton designees to purchase shares, aiming to boost shareholder confidence. The company has also decided to halt further offerings and capital raises, focusing on expanding its e-commerce presence and forming marketing partnerships. LQR House has around $8 million in cash reserves and is prioritizing cash flow, business growth, and profitability. The canceled warrants were for 9,335,696 shares, with exercise prices between $5.00 and $0.07 per share. EF Hutton designees received $60,000 in compensation for the cancellation.

Portfolio Pulse from Benzinga Newsdesk

December 20, 2023 | 1:54 pm

AMC

AMC Entertainment Holdings Inc (NYSE:AMC) has entered into a privately negotiated exchange agreement to issue 3,348,723 shares of common stock in exchange for $25 million of its 10%/12% Cash/PIK Toggle Second Lien Subordinated Notes due 2026. The shares were valued at $7.47 each. AMC also announced the launch of AMC-branded premium gourmet chocolate candies, 'AMC Cinema Sweets,' to be sold at its concession stands. The company is considering similar transactions in the future and plans to introduce more candy varieties in 2024. AMC shares were down 0.6% at $6.70 at the time of publication.

Portfolio Pulse from Adam Eckert

December 20, 2023 | 1:49 pm

LRHC

La Rosa Holdings Corp (NASDAQ:LRHC) has acquired a 51% stake in La Rosa Realty Premier, a franchisee in Orlando, Florida. This follows their recent 100% acquisition of another franchisee, La Rosa Realty CW Properties. Realty Premier had a revenue of $2.7 million with positive net income in 2022. The company aims for a $100 million annual revenue run rate by end of 2024 and is looking to acquire eight more franchises in the next 6-8 months, along with other real estate sector acquisitions. LRHC shares dropped 2.56% in premarket trading.

Portfolio Pulse from Vandana Singh

December 20, 2023 | 1:46 pm

LRHC

La Rosa Holdings has acquired its fourth real estate brokerage franchisee, which reported a revenue of $2.7M and positive net income in 2022. The acquisition is part of the company's expansion strategy.

Portfolio Pulse from Benzinga Newsdesk

December 20, 2023 | 1:45 pm

PCRFF

TSLA

Panasonic Holdings Corporation has canceled plans to build a new electric vehicle battery plant in Oklahoma, which was intended to supply batteries for Tesla, Inc. Despite this, Panasonic Energy reaffirms its commitment to the EV industry in the U.S. and its operations in Nevada and Kansas remain unaffected. The company recently agreed to buy silicon anode material from Sila Nanotechnologies Inc. for use in EV batteries. Panasonic's stock (PCRFF) fell by 0.93% to $9.56.

Portfolio Pulse from Nabaparna Bhattacharya

December 20, 2023 | 1:43 pm

RSLS

ReShape Lifesciences has engaged Maxim Group as its exclusive financial advisor to explore strategic merger and acquisition partnership alternatives.

Portfolio Pulse from Benzinga Newsdesk

December 20, 2023 | 1:32 pm

GM

TM

LG Chem is investing $1.6 billion to build the largest cathode plant in the U.S. in Tennessee, with production starting by 2026. The plant will produce NCMA cathode materials for EV batteries and has agreements to supply General Motors and Toyota. The investment aligns with the shift towards cost-effective Sodium-ion batteries and the competitive EV market's demand for advanced battery materials.

Portfolio Pulse from Benzinga Neuro

December 20, 2023 | 1:27 pm

AON

Aon plc (NYSE:AON) is acquiring NFP, a property and casualty broker, benefits consultant, wealth manager, and retirement plan advisor, for $13.4 billion, funded by $7 billion in cash and $6.4 billion in shares. The deal aims to expand Aon's middle-market segment presence and is expected to create over $2.8 billion in value. However, it will be dilutive to adjusted EPS in 2025, breakeven in 2026, and accretive in 2027. Aon's shares dropped by 5.112% in premarket trading.

Portfolio Pulse from Shivani Kumaresan

December 20, 2023 | 1:25 pm

SVRE

SaverOne 2014 Ltd. (NASDAQ:SVRE) has entered into a term sheet to acquire operations, products, and IP of Micronet Ltd., aiming to expand its product line and customer base, particularly in the US market. The acquisition is expected to be immediately accretive to SaverOne upon closing in early 2024. The deal includes contingent payments based on the performance of the acquired operations and assumes Micronet's obligations towards its customers. SaverOne's CEO, Ori Gilboa, anticipates strong synergies and immediate revenue growth from the acquisition.

Portfolio Pulse from Benzinga Newsdesk

December 20, 2023 | 1:19 pm