Streetbeat News

Acquisitions Mergers

DWAC

Jeff Yass' firm, Susquehanna International Group, was revealed as the largest institutional shareholder in Digital World Acquisition Corp. (NASDAQ:DWAC), which merged with Trump Media & Technology Group. Susquehanna, a market maker, claims to have zero economic interest in Trump Media, balancing its long position with equivalent short positions. Amidst Trump's financial challenges, including significant legal bills and a potential property 'fire sale', concerns are raised about the implications of his financial decisions on his assets and associated companies.

Portfolio Pulse from Benzinga Neuro

March 25, 2024 | 1:38 am

DWAC

Rep. Alexandria Ocasio-Cortez expressed concerns over the risk of not seizing Donald Trump's assets amid his New York fraud case, highlighting potential political corruption and interesting transactions with Truth Social. Trump faces a $454 million judgment and is expected to post a bond or risk asset seizure. Despite claims of insufficient cash, Trump stated he had nearly $500 million. Trump Media & Technology Group, parent of Truth Social, is set to trade under DJT on NASDAQ after a merger with Digital World Acquisition Corp. (NASDAQ:DWAC).

Portfolio Pulse from Benzinga Neuro

March 25, 2024 | 1:20 am

FMST

ILIT

Foremost Lithium Resource & Technology Ltd (NASDAQ:FMST) has initiated drilling at its Snow Lake site in Manitoba, Canada, with anticipation of a C$10 million grant from Canada's Critical Mineral Infrastructure Fund to support North American lithium production for electric vehicles and batteries. The company is implementing a direct ship ore strategy to enhance operations and is unaffected by recent lithium price drops, focusing on long-term goals and production set for 2025. The iShares Lithium Miners and Producers ETF (NYSE:ILIT) has seen an 18% decrease since the year's start amid falling lithium prices.

Portfolio Pulse from Neil Dennis

March 24, 2024 | 8:10 pm

CAT

NMG

PCRFY

Nouveau Monde Graphite (NYSE:NMG) is challenging China's dominance in the graphite supply chain, critical for lithium-ion batteries. With China restricting graphite exports, NMG's Quebec deposits and partnerships with Panasonic (OTC:PCRFY) and General Motors (NYSE:GM) position it as a key North American supplier. Caterpillar Inc (NYSE:CAT) is collaborating with NMG to create the world's first all-electric open pit mine, emphasizing responsible mining.

Portfolio Pulse from Neil Dennis

March 24, 2024 | 7:13 pm

CCJ

DBO

UNG

URA

URNM

USO

Rick Rule, a seasoned investor in natural resources, emphasizes the importance of contrarian investing in the volatile mining sector. He highlights the cyclical nature of these industries and the necessity to invest in commodities priced below production costs. Rule notes the recent boom and subsequent decline in Uranium prices, suggesting the easy money has been made. He recommends Cameco Corp (CCJ) for investors interested in Uranium. Rule also believes oil and gas remain lucrative despite market skepticism, citing the minimal impact of alternative energies on hydrocarbon market share.

Portfolio Pulse from Natan Ponieman

March 24, 2024 | 6:00 pm

DWAC

Former President Donald Trump is considering selling his stock in Digital World Acquisition Corp. (NASDAQ:DWAC) to pay over $450 million in legal bills. DWAC's stock plummeted nearly 14% after news of a merger to take Truth Social's parent company, Trump Media & Technology Group (TMTG), public. Trump, holding a 58% stake in TMTG, faces restrictions on selling his shares for six months, though this may change with the new board, including his son. TMTG's co-founders are suing Trump, adding to the company's challenges as it prepares to trade under the ticker DJT.

Portfolio Pulse from Bibhu Pattnaik

March 24, 2024 | 1:46 pm

TSLA

This week in politics and business saw significant events including Stephanie Grisham's prediction on Trump's reaction to potential property seizures by Letitia James, Mark Cuban's support for Joe Biden, Elon Musk's critique of Jimmy Kimmel, Musk's disapproval of a fine against Trump, and Jared Kushner's $500M Serbian real estate venture. Notably, Elon Musk took a stand against Jimmy Kimmel's humor and voiced his disapproval of a fine imposed on Donald Trump.

Portfolio Pulse from Benzinga Neuro

March 24, 2024 | 7:48 am

GDX

NEM

RING

Newmont Corporation (NYSE:NEM) is selling its Akyem gold mine in Ghana, targeting $2 billion, with interest from Chinese companies and others. Citigroup, Inc. (NYSE:C) is managing the sale. The move is part of Newmont's strategy to generate cash through divestitures following its acquisition of Newcrest Mining Ltd., aiming to offload six non-core assets to reduce debt and improve financials. NEM stock has declined over the past year, but investors can also gain exposure through ETFs like iShares MSCI Global Gold Miners ETF (NASDAQ:RING) and VanEck Gold Miners ETF (NYSE:GDX).

Portfolio Pulse from Nabaparna Bhattacharya

March 23, 2024 | 4:50 pm

FSR

GOEV

KARS

TSLA

This week, Tesla faced challenges in China, Ford planned a reentry into India's EV market, and Canoo aimed to improve profitability. Tesla's production cut in China and SEC probe concerns, along with Ford's strategy to leverage India's new EV policy, and Canoo's designation as a Foreign Trade Zone were key events. Fisker sought financing to avoid bankruptcy, and BYD expanded into Greece. The KraneShares Electric Vehicles ETF saw a decline, reflecting broader EV stock underperformance despite Tesla's slight gain.

Portfolio Pulse from Shanthi Rexaline

March 23, 2024 | 1:12 pm

DIS

Former Disney CEO Bob Chapek criticized Bob Iger's strategy for ESPN, questioning the benefit of adding another minority partner to the sports network. Chapek highlighted ESPN's importance and its challenges in transitioning from cable to streaming. Disney, under Iger, is considering selling a minority stake in ESPN to aid in launching a new direct-to-consumer sports platform by 2025, with potential partnerships with the NBA and NFL. ESPN President Jimmy Pitaro emphasized the focus on partnership rather than equity in this transition.

Portfolio Pulse from Chris Katje

March 23, 2024 | 12:49 pm