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BLK

CVX

XOM

Strive CEO Matt Cole criticized BlackRock Inc. (NYSE:BLK) for imposing a climate agenda on energy companies, citing long-term financial implications. Cole highlighted BlackRock's influence on Chevron Corporation (NYSE:CVX) and Exxon Mobil Corporation (NYSE:XOM) regarding climate policies and shareholder proposals. He also mentioned BlackRock's role in SEC's mandatory ESG climate disclosures and its membership in climate groups. The Texas Permanent School Fund withdrew $8.5 billion from BlackRock over its ESG policies, adding to the controversy around BlackRock's ESG investing stance.

Portfolio Pulse from Benzinga Neuro

March 22, 2024 | 5:36 am

COIN

META

RDDT

Ark Invest, led by Cathie Wood, purchased shares of Meta Platforms Inc (META) and Reddit (RDDT) on their debut, while selling Coinbase (COIN) shares. The firm bought 90,253 META shares valued at $45.82 million and 9,982 RDDT shares worth $503,492. Meanwhile, 199,526 COIN shares were sold for $52.27 million. The trades reflect Ark's strategic positioning in response to market trends and legal challenges faced by META.

Portfolio Pulse from Benzinga Neuro

March 22, 2024 | 5:16 am

RDDT

On Reddit's IPO day, co-founder Alexis Ohanian publicly feuded with Initialized Capital, an early investor in Reddit, for not acknowledging him in their celebratory post. Despite the dispute, Reddit's IPO was successful, with shares opening at $47 and currently trading around $55, a 70% increase from the IPO price. The IPO was seen as a potential milestone for the tech industry, despite a preceding patent dispute with Nokia.

Portfolio Pulse from Benzinga Neuro

March 22, 2024 | 1:31 am

HAS

Larian Studios announced at the Game Developers Conference that Baldur's Gate 3 will not receive any expansions or downloadable content (DLC), and the studio will move away from the Dungeons & Dragons universe. The Baldur's Gate IP will be handed over to Wizards of the Coast, a subsidiary of Hasbro Inc (NASDAQ:HAS). This decision marks a significant shift for Larian Studios, known for its role in the RPG genre, and puts the future development of Baldur's Gate 4 in uncertainty as Wizards of the Coast may look for another developer.

Portfolio Pulse from Franca Quarneti

March 21, 2024 | 10:21 pm

CIO

COMP

DESK

HOUS

OPI

VNO

VNQ

The Federal Reserve's indication of potential interest rate cuts in 2024 and 2025 has sparked a rally in the real estate sector, particularly benefiting stocks with high debt levels or exposure to the office industry. The Vanguard Real Estate ETF (VNQ) and the VanEck Office And Commercial Real Estate ETF (DESK) saw increases, along with significant gains for City Office REIT (CIO), Compass Inc. (COMP), Office Properties Income Trust (OPI), Anywhere Real Estate Inc. (HOUS), and Vornado Realty Trust (VNO).

Portfolio Pulse from Piero Cingari

March 21, 2024 | 9:29 pm

ABNB

Airbnb Inc (NASDAQ:ABNB), now valued at $105 billion, was once rejected by 7 investors who were offered a 10% stake for $150,000 in 2008. These investors did not see the potential in Airbnb's concept of short-term vacation rentals. The company went public in 2020 with a valuation of $47 billion. The rejected stake would be worth $10.5 billion today. Airbnb later received funding from Sequoia Capital and Y Combinator, with Y Combinator benefiting significantly from its growth.

Portfolio Pulse from Chris Katje

March 21, 2024 | 8:42 pm

GOEV

Canoo Inc. (NASDAQ:GOEV) shares surged following the U.S. Department of Commerce's approval of its Oklahoma City facility as a Foreign Trade Zone, enhancing its electric vehicle manufacturing strategy in America. The approval is expected to improve unit profitability and expedite breakeven. The Oklahoma City site, employing over 100 people, aims to create up to 1,100 manufacturing jobs at full capacity. The FTZ designation benefits include eliminating customs duties on international sales and deferring duties on imported parts for domestic sales. Canoo's stock has risen nearly 200% since the announcement. However, year to date, GOEV shares have lost 64.35%, outperforming its historical average annual return of -78.69%. The stock's RSI of 78.36 indicates overbought conditions.

Portfolio Pulse from Erica Kollmann

March 21, 2024 | 8:35 pm

PPTA

Perpetua Resources Corp. (NASDAQ:PPTA) has sold a silver royalty from its Stibnite Gold Project to Franco-Nevada for $8.5 million. This deal enhances Perpetua's liquidity, complementing funding from the Department of Defense, and supports its efforts to advance permitting and construction readiness. The transaction is part of Perpetua's strategy to minimize equity dilution while securing non-dilutive capital for the project, which aims to re-establish a U.S. source of the critical mineral antimony.

Portfolio Pulse from Benzinga Newsdesk

March 21, 2024 | 8:31 pm

DKNG

RSI

Rush Street Interactive (RSI) shares are trading higher after reports emerged that the company is considering a sale and has approached DraftKings for a potential deal.

Portfolio Pulse from Benzinga Newsdesk

March 21, 2024 | 7:50 pm

DKNG

RSI

Rush Street Interactive Inc. is considering strategic alternatives, including a potential sale, and has approached potential buyers such as DraftKings Inc. for this purpose.

Portfolio Pulse from Benzinga Newsdesk

March 21, 2024 | 7:48 pm