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AYRWF

MJUS

MSOS

The Amplify U.S. Alternative Harvest ETF (MJUS) rebalancing had a significant impact on cannabis stocks, contributing to their downward trend. Despite its smaller size compared to MSOS ETF, MJUS's trading activity accounted for a notable portion of stock volume, with a correlation of .67 between its trading activity and stock price changes. The article also highlights the influence of rumors and technical events on the cannabis market, advising investors to be cautious. Additionally, it mentions the Viridian Cannabis Deal Tracker, a tool for monitoring capital raise and M&A activity in the cannabis industry.

Portfolio Pulse from Viridian Capital Advisors

February 20, 2024 | 6:43 pm

TLRY

Morningstar reduced Tilray Brands, Inc.'s (NASDAQ:TLRY) price target from $3.30 to $3.10, citing reduced revenue due to market fragmentation, pricing compression, and the illicit market in Canada. Despite these challenges, Tilray's acquisition of Hexo in 2023 is expected to consolidate the market. The company's international operations are forecasted to grow due to limited competition and expanding medical cannabis legalization. The report also highlighted the impact of the illicit market and potential regulatory costs on profitability. Tilray's shares fell 5.2269% to $1.8199.

Portfolio Pulse from Jelena Martinovic

February 20, 2024 | 6:33 pm

CMND

SPRC

SciSparc Ltd. (NASDAQ:SPRC) and Clearmind Medicine Inc. (NASDAQ:CMND) announced the submission of three international patent applications for novel proprietary combinations of psychedelic compounds, boosting their shares. This collaboration has led to 11 patent applications, aiming to strengthen their position in the psychedelic drug development market.

Portfolio Pulse from Erica Kollmann

February 20, 2024 | 6:29 pm

TEVA

Teva Pharmaceutical Industries (NYSE:TEVA) CEO Richard Francis confirmed the company will not split into two entities, focusing on a unified approach to manage its generics and branded drugs businesses. Despite challenges, Teva remains optimistic, leveraging collaborations with Israeli universities for R&D. The company plans to divest its API business, valued at $1 billion, expecting significant interest. The divestiture is aimed to be completed in the first half of 2025, with TEVA shares currently up 0.88% at $13.14.

Portfolio Pulse from Vandana Singh

February 20, 2024 | 6:24 pm

AGRI

DFS

EVA

FLR

MEDS

MNPR

VZIO

Fluor Corporation's shares fell by 7.7% following its Q4 results, with earnings beating estimates but sales missing expectations. Other stocks moved significantly in Tuesday's session, with notable gainers including TRxADE HEALTH, AgriFORCE Growing Systems, and Monopar Therapeutics, among others, due to various positive announcements. Losers included RAPT Therapeutics, MicroCloud Hologram, and Summit Therapeutics, primarily due to negative news or disappointing results.

Portfolio Pulse from Avi Kapoor

February 20, 2024 | 6:21 pm

ARM

NVDA

SSNLF

Samsung Electronics Co (OTC:SSNLF) and Arm Holdings Plc (NASDAQ:ARM) have announced a collaboration to develop the next-generation Arm Cortex-X CPU using Samsung's Gate-All-Around process technology. This partnership aims to drive innovations in the semiconductor industry, focusing on a 2-nanometer AI chipset for mobile computing and data centers. Meanwhile, Nvidia Corp (NASDAQ:NVDA) increased its stake in Arm Holdings, which has seen its shares surge by 119% over the past quarter following its IPO.

Portfolio Pulse from Anusuya Lahiri

February 20, 2024 | 6:08 pm

SWTX

SpringWorks Therapeutics shares are trading lower after experiencing a surge on Friday due to takeover rumors.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 6:04 pm

BFRI

Biofrontera Inc. (NASDAQ:BFRI) shares surged after announcing a $16 million financing deal with healthcare-focused institutional investors led by Rosalind Advisors. The deal includes $8 million in Series B-1 Convertible Preferred Stock and warrants for Series B-3 Convertible Preferred Stock. Additionally, Biofrontera restructured agreements with its former parent company, Biofrontera AG, reducing the transfer price of Ameluz from 50% to 25% for 2024 and 2025. The stock's trading volume spiked, with over 24.2 million shares traded, significantly above its 100-day average.

Portfolio Pulse from Erica Kollmann

February 20, 2024 | 6:02 pm

AXP

COF

DFS

The $35 billion merger between Capital One Financial Corp (NYSE:COF) and Discover Financial Services (NYSE:DFS) positions Capital One as the largest credit card operator in the U.S., posing a significant challenge to Visa Inc (NYSE:V) and Mastercard Inc (NYSE:MA). The merger could lead to substantial market share gains and synergies for Capital One, potentially allowing it to shift a significant portion of its credit card volume from Visa and Mastercard to Discover's network. This move could result in a loss of up to 25% of U.S. credit volume for Mastercard and about 9% for Visa. However, the deal faces potential regulatory scrutiny due to the concentration in the credit card market.

Portfolio Pulse from Neil Dennis

February 20, 2024 | 5:51 pm

AXP

Credit card stocks are trading lower due to concerns over increased competition following the announcement of the Capital One-Discover deal. This development has sparked worries about the competitive landscape for other companies in the sector.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 5:51 pm