Streetbeat News

Acquisitions Mergers

AYRWF

CLSH

MSOS

TCNNF

YOLO

The latest report from Water Tower Research highlights growth and volatility in the US cannabis industry, with a focus on ETFs like MSOS and YOLO, and companies such as AYR Wellness and Trulieve. The report anticipates regulatory changes and discusses the potential impact of Florida's Amendment 3 on the market. CLS Holdings' expansion into New York's recreational cannabis market is also featured, alongside speculation about DEA rescheduling of cannabis.

Portfolio Pulse from Patricio Liddle

April 09, 2024 | 7:32 pm

OPTHF

Optimi Health Corp. (OTCQX:OPTHF), a Canadian psychedelics pharmaceutical manufacturer, has entered into an agreement to supply natural psilocybin to New Zealand's Mātai Medical Research Institute for the Tū Wairua Project. This marks Optimi's first supply deal in New Zealand, contributing to its global expansion. The company will provide GMP Full Spectrum Natural Psilocybin extract for a pilot study aimed at evaluating psychedelic-assisted therapy for Māori patients. The study, set for mid-2024, will integrate Māori cultural practices and aims to inform future trials for methamphetamine use disorder among Māori patients.

Portfolio Pulse from Lara Goldstein

April 09, 2024 | 7:26 pm

META

Twelve years ago, Facebook (now Meta Platforms Inc, NASDAQ:META) acquired Instagram for $1 billion, a move criticized by many including Jon Stewart for its high cost and Instagram's uncertain future. Despite initial skepticism, Instagram has grown into a key component of Meta's portfolio, contributing to its valuation of over $1 trillion. The acquisition, once mocked for its perceived overvaluation, is now considered one of the best technology-related acquisitions of all time.

Portfolio Pulse from Chris Katje

April 09, 2024 | 6:33 pm

UBS

UBS Group AG is in talks to gain full control of its China platform by swapping its stake in Credit Suisse's onshore securities venture for the 33% stake held by Beijing State-Owned Assets Management Co. in UBS Securities Co. This move is part of a complex negotiation involving potential sales to Beijing government funds and faces regulatory challenges due to Chinese laws on foreign brokerage ownership. The deal aims to navigate the competitive landscape, with notable interest from Ant Group and Citadel Securities in Credit Suisse's China investment bank.

Portfolio Pulse from Vandana Singh

April 09, 2024 | 6:20 pm

AMZN

MSFT

TSM

Microsoft Corp (NASDAQ:MSFT) announced a $2.9 billion investment in Japanese data centers by 2025 to boost AI and cybersecurity, coinciding with Prime Minister Kishida's US visit. This move aligns with Tokyo's AI ambitions and positions Microsoft as a key cloud services provider, second to Amazon.Com Inc (NASDAQ:AMZN). Additionally, Taiwan Semiconductor Manufacturing Co (NYSE:TSM) plans to source 60% of materials locally for its Japanese chip facility by 2030, with significant Japanese government investment. AWS also commits $15.5 billion to Japanese operations from 2023 to 2027.

Portfolio Pulse from Anusuya Lahiri

April 09, 2024 | 6:07 pm

CSCO

DIA

FCX

MRNA

NVDA

QQQ

SPY

Stocks fell ahead of key inflation data, with the S&P 500, Dow, and Nasdaq showing declines. Treasury yields dipped as bond demand rose, and gold prices reached new highs. Bitcoin saw a significant drop. Key ETFs like SPY, DIA, and QQQ moved lower, while specific stocks like NVDA, CSCO, MRNA, MP, and FCX experienced notable price movements due to various factors including analyst ratings and study results.

Portfolio Pulse from Piero Cingari

April 09, 2024 | 5:53 pm

REFI

Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI) has provided a $20 million loan facility to Massachusetts-based cannabis operator Nova Farms. This funding aims to support Nova Farms' expansion in New Jersey and Connecticut, enhancing its footprint of dispensaries. Nova Farms, which operates a cultivation farm, seven retail brands, and five dispensaries across Massachusetts, Maine, and New Jersey, plans its next retail opening for late 2024. The partnership is expected to bolster Nova Farms' position in the cannabis market by accelerating its strategic plans and ensuring a competitive edge.

Portfolio Pulse from Jelena Martinovic

April 09, 2024 | 5:18 pm

BSGM

LASE

TLRY

VINC

Tilray Brands, Inc. (NASDAQ:TLRY) shares fell by 22% after missing Q3 estimates and revising its fiscal year 2024 outlook. Other stocks showed significant movement, with Laser Photonics Corporation (NASDAQ:LASE) and BioSig Technologies, Inc. (NASDAQ:BSGM) among the top gainers. Vincerx Pharma, Inc. (NASDAQ:VINC) led the losers after presenting preliminary Phase 1 data.

Portfolio Pulse from Avi Kapoor

April 09, 2024 | 5:12 pm

NCLH

Norwegian Cruise Line Holdings Ltd (NYSE:NCLH) announced plans for eight new ships across three brands, adding nearly 25,000 berths, and the construction of a multi-ship pier at Great Stirrup Cay. The ships are scheduled for delivery between 2026 and 2036, with financing secured for two of the ships. Stifel analyst Steven Wieczynski reiterated a Buy rating with a $25 price target, highlighting the company's aggressive expansion and potential for market entry with minimal fleet cannibalization. Despite a short-term 2.35% drop in NCLH shares to $18.93, the long-term growth prospects are deemed positive.

Portfolio Pulse from Shivani Kumaresan

April 09, 2024 | 5:01 pm

BCSA

Linqto, Inc. and Blockchain Coinvestors Acquisition Corp. I (NASDAQ:BCSA) have announced a definitive business combination agreement, with the expected closure in the second half of 2024.

Portfolio Pulse from Benzinga Newsdesk

April 09, 2024 | 5:00 pm