Streetbeat News

Acquisitions Mergers

FSR

GOEV

KARS

NKLA

TSLA

The electric vehicle (EV) sector experienced mixed sentiments despite the broader market's record high. Tesla faced reduced delivery targets and price target cuts due to demand issues, while promoting a free trial of its full-self driving software. Fisker announced significant price reductions for its EVs amid bankruptcy rumors. Nikola teased the return of its battery EV trucks and announced the opening of a hydrogen refueling station. Canoo acquired assets from bankrupt Arrival Automotive. BYD aims for a 20% sales growth in 2024. The KraneShares Electric Vehicles ETF saw a weekly decline.

Portfolio Pulse from Shanthi Rexaline

March 30, 2024 | 12:21 pm

MSFT

Microsoft Corp. (NASDAQ:MSFT) and OpenAI are collaborating on a $100 billion supercomputer project named 'Stargate', expected to launch in 2028. The project aims to build the largest AI supercomputer, requiring extensive land and power resources. This initiative is part of a broader race for AI dominance, with Microsoft also making strategic hires and acquisitions to strengthen its AI capabilities.

Portfolio Pulse from Rounak Jain

March 30, 2024 | 7:30 am

DJT

FBGRX

Trump Media & Technology Group (TMTG) debuted on NASDAQ under the symbol DJT after a SPAC merger, with an initial market cap of $9.6 billion, later adjusting to $7-$8 billion. Comparatively, Elon Musk's X (formerly Twitter) was acquired for $44 billion but is now valued at $14.1 billion by Fidelity. TMTG's valuation is considered high, trading at 2,800 times its annual revenue, while X traded at 8.4x. Investors are cautioned about TMTG's future valuation, and Musk aims to expand X into an 'everything' app.

Portfolio Pulse from Chris Katje

March 29, 2024 | 7:11 pm

ATAI

META

MNMD

PSIL

TSLA

Beckley Psytech and atai Life Sciences announced positive results from a Phase 2a study of 5-MeO-DMT for Treatment Resistant Depression. Utah hospitals will soon offer psilocybin and MDMA therapy. Elon Musk discussed the benefits of ketamine for depression and its positive impact on investors. Meta is under investigation for potentially facilitating illegal drug sales. MindMed's CEO highlighted LSD's potential in a podcast. Various companies and ETFs are mentioned with their stock performance.

Portfolio Pulse from Lara Goldstein

March 29, 2024 | 4:43 pm

DIS

Walt Disney Co (NYSE:DIS) has seen a significant rebound in its stock price, reaching new 52-week highs ahead of a crucial shareholder meeting on April 3, where activist battles, including one led by Nelson Peltz of Trian Partners, will be a focal point. Disney has settled a legal dispute with Florida Gov. Ron DeSantis, potentially removing a negative factor. Analysts have recently upgraded Disney's stock, showing support for current management amidst the activist challenges.

Portfolio Pulse from Chris Katje

March 29, 2024 | 4:00 pm

AMC

CGC

IONQ

MSTR

Benzinga's Stock Whisper Index highlights Canopy Growth Corp, JD.Com Inc, MicroStrategy Inc, AMC Entertainment Holdings Inc, and IonQ Inc as stocks to watch. Canopy Growth benefits from Germany's cannabis legalization, JD.Com sees investor interest post-earnings, MicroStrategy's Bitcoin strategy draws attention, AMC plans a stock offering, and IonQ announces strategic agreements and a new team member.

Portfolio Pulse from Chris Katje

March 29, 2024 | 2:01 pm

ATAI

CMPS

Atai Life Sciences (NASDAQ:ATAI) reported its Q4 and full-year 2023 financial results, revealing a significant cash drain but maintaining its 2026 operational funding target. The company's cash and investments decreased to $154.2 million from $273.1 million the previous year. Despite a net loss reduction, the decrease in cash is attributed to operational activities and investments in its psychedelic pipeline, including a strategic investment in Beckley Psytech. Atai continues to focus on developing treatments for mental health disorders, with promising results from its psychedelic-based therapies, including BPL-003 for Treatment-Resistant Depression.

Portfolio Pulse from Lara Goldstein

March 29, 2024 | 1:20 pm

ALB

SQM

XOM

Chile plans to double its lithium output in the next decade by opening 26 new salt flats for extraction, aiming to address potential lithium shortages and meet the quadrupling global demand by 2030. Sociedad Química y Minera de Chile S.A. (SQM) and Albemarle Corporation (ALB) are key players in Chile's lithium sector. Meanwhile, in the U.S., companies like Tetra Technologies face regulatory hurdles in lithium extraction, despite partnerships like the one with Exxon Mobil (XOM) for lithium extraction in Arkansas.

Portfolio Pulse from Stjepan Kalinic

March 29, 2024 | 12:22 pm

BLK

BTCUSD

IBIT

Bitcoin's value has surged above $73,000, influenced by the approval of spot bitcoin ETFs and major financial institutions like BlackRock entering the crypto space. CoinFlip's CEO Daniel Polotsky suggests the crypto market may see significant changes with the upcoming halving event, potentially ending the traditional four-year market cycle. The entrance of ETFs and institutional investors could lead to a more stable growth trajectory for Bitcoin, despite potential challenges from tighter monetary policies and political factors.

Portfolio Pulse from Benzinga Neuro

March 29, 2024 | 10:58 am

AMZN

MSFT

NVDA

Analyst Richard Windsor warns of an AI bubble, citing overvaluations in AI sector investments by Nvidia, Amazon, and Microsoft. He points to Nvidia-backed Cohere's $5 billion valuation, Microsoft's $650 million deal with Inflection AI, and Amazon's $2.75 billion investment in Anthropic as signs of market frenzy without regard for fundamentals. Despite the AI hype benefiting Nvidia, Windsor advises caution, predicting a market correction.

Portfolio Pulse from Benzinga Neuro

March 29, 2024 | 8:39 am