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Acquisitions Mergers

RUM

Rumble's stock price increased following CEO Chris Pavlovski's announcement that the company is prepared to join a consortium aiming to acquire and operate TikTok in the US, should ByteDance decide to divest its ownership.

Portfolio Pulse from Benzinga Newsdesk

March 12, 2024 | 4:05 pm

COIN

MSTR

TSLA

The crypto market cap hits $2.5T with Bitcoin, Ethereum, Dogecoin surging as MicroStrategy buys more BTC. Tesla's German factory resumes after an arson attack. MILLI's value increases, outperforming Dogecoin and Shiba Inu. $47M stolen in crypto phishing in February. Bitcoin's volatility expected to decrease, while Ethereum's ETF approval odds drop. Ark Invest sells Coinbase shares despite Bitcoin's new highs. Tesla offers early Cybertruck delivery to long-term shareholders, and Volvo aims to cut EV charging times.

Portfolio Pulse from Akanksha Bakshi

March 12, 2024 | 4:04 pm

RUM

Rumble Inc (NASDAQ:RUM) shares surged after the company expressed interest in joining a consortium to acquire and operate TikTok in the US, if ByteDance divests its ownership. This was revealed through an offer letter posted on social media by Rumble's CEO, Chris Pavlovski. Additionally, Rumble highlighted the launch of Rumble Cloud, aimed at providing businesses with an alternative to avoid unfair pricing and censorship. The company's stock was up 14.2% at $7.63 following the announcement.

Portfolio Pulse from Adam Eckert

March 12, 2024 | 4:02 pm

AMD

The analysis of Advanced Micro Devices (AMD) against its competitors in the Semiconductors & Semiconductor Equipment industry reveals AMD's premium valuation with a high PE ratio, potential undervaluation based on PB ratio, and challenges in profitability and growth. AMD's acquisition of Xilinx aims to diversify its business and enhance opportunities in key markets. The company's financial health is indicated by a lower debt-to-equity ratio compared to its top 4 peers, suggesting less reliance on debt financing.

Portfolio Pulse from Benzinga Insights

March 12, 2024 | 4:00 pm

MSTR

MicroStrategy Inc (NASDAQ:MSTR) shares are trading higher after TD Cowen and Canaccord Genuity significantly raised their price targets on the stock, following MicroStrategy's announcement of acquiring an additional 12,000 Bitcoin. The company's focus on accumulating Bitcoin and the recent rise in crypto prices have positively impacted its stock value.

Portfolio Pulse from Adam Eckert

March 12, 2024 | 3:53 pm

IONM

Assure Holdings Corp. (NASDAQ:IONM) stock surged 38% to $0.47 after announcing the sale of certain IONM business assets to MPOWERHealth for up to $4.5 million. The deal includes $2.5 million upfront and up to $2.0 million based on case volume, covering healthcare facility contracts, clinical equipment, and most employees. The sale aims to repurpose Assure's business towards a merger with Danam Health, enhancing MPOWERHealth's IONM services.

Portfolio Pulse from Henry Khederian

March 12, 2024 | 3:52 pm

DWAC

Former President Donald Trump reportedly attempted to sell Truth Social to Elon Musk, owner of X (formerly Twitter), but failed. The conversation did not lead to a deal, but they have remained in contact. Trump also sought campaign donations from Musk for the 2024 election and invited him to speak at the GOP convention, which Musk declined. The report emerges as the SPAC merger between Digital World Acquisition Corp (DWAC) and Truth Social's parent company, Trump Media & Technology Group (TMTG), faces delays and litigation. Trump, facing significant legal fees and penalties, views TMTG as a financial lifeline. Musk, having bought Twitter and rebranded it to X, has criticized Truth Social and is seen as a competitor.

Portfolio Pulse from Chris Katje

March 12, 2024 | 3:45 pm

GLNCY

LICY

Li-Cycle Holdings Corp (NYSE:LICY) has announced a $75 million investment from Glencore plc (OTC:GLNCY) through a senior secured convertible note. This investment follows a previous one in June 2022 and aims to improve Li-Cycle's liquidity. The company is also reviewing its strategy for the Rochester Hub and has agreed to add two Glencore nominees to its Board. Li-Cycle's shares surged 29.46% to $0.5193 following the announcement.

Portfolio Pulse from Shivani Kumaresan

March 12, 2024 | 3:44 pm

ALK

HA

JBLU

SAVE

At the J.P. Morgan Industrials Conference, Alaska Air's CEO commented that the judge's decision on the JetBlue-Spirit deal is beneficial for Alaska Air. He also noted that Alaska Air's agreement with Hawaiian Airlines is distinct from the JetBlue-Spirit merger.

Portfolio Pulse from Benzinga Newsdesk

March 12, 2024 | 3:42 pm

FPX

MILN

UBER

Uber Freight aims for a tenfold expansion in Europe by 2028, targeting 2 billion euros in freight management. Despite a 25% revenue dip in 2023 due to lower trucking rates, improvements are seen with resolving supply chain issues. Uber Technologies Inc. (UBER) reported a 15% revenue growth in Q4 fiscal 2023, with shares up 0.50% in premarket trading. Investors can also gain exposure to Uber through FPX and MILN ETFs.

Portfolio Pulse from Anusuya Lahiri

March 12, 2024 | 3:28 pm