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Cryptocurrency analyst Willy Woo predicts Bitcoin ETFs could drive Bitcoin's price to surpass gold's market cap, with price targets of $91k in bear and $650k in bull markets. The SEC approved Bitcoin ETFs from Grayscale, Bitwise, Hashdex, Valkyrie, and ARK 21Shares. Bitcoin's market cap could rise to $12.8 trillion, exceeding gold's $16.1 trillion cap. Bitcoin ETFs saw $111 billion traded in March, despite a recent 8% price drop and $83M net outflows in spot Bitcoin ETFs.

Portfolio Pulse from Benzinga Neuro

April 16, 2024 | 2:38 am

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IBIT

Despite BlackRock Inc.'s acceptance of Bitcoin, skepticism remains among finance professionals. Portfolio manager Mike Green criticizes Bitcoin as an 'extractive bubble,' yet Simplify Asset Management launched two Bitcoin-exposed funds. Companies like Vanguard and State Street have not offered Bitcoin ETFs, and Goldman Sachs views Bitcoin as unsuitable for investment portfolios. The Miami event highlighted ongoing doubts about Bitcoin's viability as a reserve currency, despite its recent price surge.

Portfolio Pulse from Benzinga Neuro

April 16, 2024 | 1:49 am

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CMPS

IGC

TPB

The cannabis industry is witnessing significant executive changes across various companies, with new CEOs, CFOs, COOs, and board members being appointed. These changes come as the industry prepares for the Benzinga Cannabis Capital Conference in Florida, highlighting the sector's dynamic nature and growth. Notably, U.S.-based cannabis executives' salaries have surpassed the $500,000 mark, indicating the industry's lucrative potential. Companies like Decibel Cannabis, Schwazze, DIZPOT, and others have announced leadership changes, aiming to strengthen their market positions and expand operations.

Portfolio Pulse from Jelena Martinovic

April 16, 2024 | 12:22 am

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MANU

Gemini founders Cameron and Tyler Winklevoss invested $4.5 million in Bitcoin into Real Bedford FC, aiming to propel the team to the English Premier League. They join Bitcoin podcaster Peter McCormack as co-owners, sharing a conviction in Bitcoin's potential to support the club's ambitions. Manchester United (NYSE:MANU) was also mentioned as an example of a valuable team in the Premier League that recently secured investment from billionaire Jim Ratcliffe.

Portfolio Pulse from Chris Katje

April 15, 2024 | 9:48 pm

ORGS

Orgenesis announces a major transformation starting with a recent acquisition and a $2.3M investment secured. This strategic move aims to enhance the company's growth and market position.

Portfolio Pulse from Benzinga Newsdesk

April 15, 2024 | 9:16 pm

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IPX

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Piedmont Lithium received a mining permit for its Carolina Lithium project, expected to boost the U.S. EV supply chain. U.S. Steel faces opposition from senators and a national security review against its acquisition by Nippon Steel. Ioneer progresses on its Rhyolite Ridge project with an upcoming environmental review, aiming for production in 2027. IperionX signs a deal to supply titanium products, enhancing the U.S. titanium supply chain.

Portfolio Pulse from austin@walkonholdings.com

April 15, 2024 | 9:15 pm

SHEN

Shenandoah Telecommunications (Shentel) has announced the rebranding of Horizon Telcom, a fiber optic broadband service provider for commercial and residential customers in Ohio and adjacent states, to Glo Fiber. Horizon was acquired by Shentel in April 2024.

Portfolio Pulse from Benzinga Newsdesk

April 15, 2024 | 8:57 pm

SUN

NuStar Energy L.P. announced a conditional special distribution of $0.212 per unit, payable on May 2, 2024, to common unit holders on record as of April 26, 2024. This distribution is contingent upon the approval of NuStar's acquisition by Sunoco LP (SUN) at a special meeting scheduled for May 1, 2024.

Portfolio Pulse from Benzinga Newsdesk

April 15, 2024 | 8:54 pm

JNJ

Johnson & Johnson (NYSE:JNJ) is set to report Q1 earnings on April 16 with expectations of $2.64 EPS and $21.4 billion in revenues. The stock has declined approximately 9.54% over the past year and 5.88% YTD, amid concerns over patent cliffs and competition. However, J&J is making strategic acquisitions to strengthen its cardiac and MedTech segments. Technical analysis shows a bearish trend, with the stock below key moving averages and indicators suggesting bearish sentiment but also noting it as oversold. Analyst consensus rates J&J as Neutral with a price target of $171.95, while Cantor Fitzgerald and RBC Capital project a potential 37.15% upside to $203.67.

Portfolio Pulse from Surbhi Jain

April 15, 2024 | 8:47 pm

MCBC

WFTC

Macatawa Bank Corporation (NASDAQ:MCBC) shares surged after-hours following the announcement of a definitive merger agreement with Wintrust Financial Corporation (NASDAQ:WFTC), where Wintrust will acquire Macatawa in an all-stock transaction valued at approximately $510.3 million, or $14.85 per share. The merger, expected to close in the second half of 2024, aims to combine the community banking strengths of both companies, with plans to retain the Macatawa Bank name and its key components in West Michigan.

Portfolio Pulse from Erica Kollmann

April 15, 2024 | 8:40 pm