Streetbeat News

Acquisitions Mergers

STLA

Stellantis N.V. and Leapmotor have completed their joint venture, Leapmotor International B.V., to introduce the T03 and C10 electric vehicles in Europe, with plans for global expansion. Stellantis invested €1.5 billion for a 21% stake in Leapmotor. The venture aims to leverage Stellantis' commercial presence outside Greater China and address climate issues with competitive EV models. Operations in nine European countries are expected to start by September 2024, with expansion to other regions following.

Portfolio Pulse from Shivani Kumaresan

May 14, 2024 | 3:31 pm

LPSN

LivePerson shares are experiencing an uptick due to a surge in high-short interest stocks, following the return of retail trader 'Roaring Kitty' to social media. Additionally, the company has announced a binding agreement to exchange its Senior Convertible Notes due 2026 for new Senior Secured Convertible Notes due 2029.

Portfolio Pulse from Benzinga Newsdesk

May 14, 2024 | 3:15 pm

DJT

RDDT

Trump Media & Technology Group Corp. (NASDAQ:DJT) tops Fintel's Short Squeeze Leaderboard with a score of 99.41, indicating a high potential for another short squeeze. The stock has surged 126.14% since April 16, driven by the announcement of a new streaming platform and election optimism. Despite its rapid growth, some analysts consider DJT overvalued, especially when compared to Reddit Inc. (NYSE:RDDT), which has a larger user base and revenue. DJT's short float stands at 84.61 with a days-to-cover ratio of 1.39, suggesting the stock might be ripe for another squeeze.

Portfolio Pulse from Surbhi Jain

May 14, 2024 | 3:14 pm

KDLY

KindlyMD (NASDAQ:KDLY) is set to IPO on May 15, offering shares at $5.50 each with an insider lock-up period ending on November 11, 2024. The company focuses on holistic pain management and aims to reduce opioid dependency among chronic pain patients by integrating prescription medicine with behavioral health services.

Portfolio Pulse from Benzinga Insights

May 14, 2024 | 3:00 pm

JDZG

JIADE LIMITED (NASDAQ:JDZG) is set to begin trading on NASDAQ on May 15, with an IPO price range of $4.00 to $5.00 per share. The company, incorporated in the Cayman Islands, has an insider lock-up period ending on November 11, 2024.

Portfolio Pulse from Benzinga Insights

May 14, 2024 | 3:00 pm

MULN

Mullen Automotive Inc (NASDAQ:MULN) shares surged after announcing a $150 million capital infusion, comprising $100 million in financing from a family office and $50 million in senior secured convertible notes. This funding is expected to support operations and Bollinger Motors B4 vehicle production for the next 13 months. Additionally, potential tariff hikes on imported Chinese electric vehicles by President Biden could indirectly benefit Mullen by protecting American industries.

Portfolio Pulse from Adam Eckert

May 14, 2024 | 2:59 pm

TLRY

Tilray Brands Inc (NASDAQ:TLRY) shares are trading higher after announcing a private debt-for-equity deal, exchanging 13.1 million shares for $19.8 million of its 5.25% Convertible Senior Notes due June 1, 2024, effectively clearing these notes from its obligations. Additionally, Tilray's subsidiary Breckenridge Brewery, in collaboration with 97.3 KBCO (iHeartMedia-Denver), announced an upcoming charity concert event.

Portfolio Pulse from Adam Eckert

May 14, 2024 | 2:54 pm

VOD

Vodafone Group's sale of its Spanish operations has been approved, with plans to initiate a €2 billion share buyback program. The initial phase of the buyback, amounting to €500 million, is set to begin on 15 May 2024. The completion of the sale is anticipated by the end of May 2024.

Portfolio Pulse from Benzinga Newsdesk

May 14, 2024 | 2:38 pm

PODD

Soren Aandahl of Blue Orca Capital recommends shorting Insulet Corporation (PODD) and going long on EOFlow, following a Federal Court of Appeals decision last week that terminated a preliminary injunction protecting Insulet's monopoly against EOFlow.

Portfolio Pulse from Benzinga Newsdesk

May 14, 2024 | 1:47 pm

PLUG

Plug Power, Inc. (NASDAQ:PLUG) shares surged 64% after receiving a conditional commitment for a $1.66 billion loan guarantee from the Department of Energy to finance up to six green hydrogen production facilities. This move aligns with the Biden Administration's Justice 40 Initiative and marks a significant step in Plug Power's expansion of its green hydrogen network in the U.S.

Portfolio Pulse from Nabaparna Bhattacharya

May 14, 2024 | 1:26 pm