Streetbeat News

Assets

COIN

Coinbase has upsized its offering of convertible senior notes to $1.1 billion, up from the initially announced $1.0 billion. The offering includes a 30-day option for initial purchasers to buy an additional $165 million in notes. The sale is expected to close on March 18, 2024, potentially raising up to $1.24 billion for Coinbase after expenses.

Portfolio Pulse from Benzinga Newsdesk

March 14, 2024 | 7:14 am

CCI

Crown Castle's co-founder has proposed a comprehensive plan aimed at revitalizing the company by restoring operational excellence, enhancing leadership with seasoned tower professionals, and maximizing the value of its fiber assets. This strategy is designed to position Crown Castle as a leading pure-play tower company. The co-founder believes that with immediate action, Crown Castle's value could reach at least $150 per share in the next 18 months, preventing further erosion of shareholder value.

Portfolio Pulse from Benzinga Newsdesk

March 14, 2024 | 6:31 am

STWD

Starwood Property Trust, Inc. (STWD) has successfully priced an upsized private offering of $600 million in 7.250% unsecured senior notes due 2029, increased from an initial $400 million. The notes were priced at their full principal amount, with the settlement expected on March 27, 2024, pending customary closing conditions.

Portfolio Pulse from Benzinga Newsdesk

March 14, 2024 | 6:23 am

BTCUSD

Cryptocurrency miners are experiencing record profits due to the ongoing Bitcoin rally, with daily mining revenue reaching $78 million as Bitcoin hits a $72,000 record. Factors such as the upcoming halving event, Wall Street's growing interest, and regulatory changes are driving the surge. The halving event, reducing miner rewards, has led to a $1 billion investment in new equipment. Analysts predict this cycle will boost Bitcoin prices further, potentially reaching $100,000 by the end of 2024.

Portfolio Pulse from Benzinga Neuro

March 14, 2024 | 5:30 am

EWU

The U.K. RICS House Price Balance for February was reported at -10%, aligning with estimates and showing an improvement from the -18% recorded in the previous month. This indicates a less negative sentiment towards U.K. housing prices.

Portfolio Pulse from Benzinga Newsdesk

March 14, 2024 | 4:09 am

COIN

MSTR

Cryptocurrencies showed mixed performance with Ethereum completing the 'Duncun' upgrade, aimed at reducing data fees on layer-2 networks. Bitcoin reached a new all-time high, attributed to the success of spot BTC ETFs and MicroStrategy's bond offering to buy more Bitcoin. The global cryptocurrency market cap increased by 1.73%. Stocks, including Nvidia, closed lower, while Coinbase and MicroStrategy stocks rose. Analysts predict continued growth for Bitcoin, with potential for a liquidity crisis due to high ETF inflows.

Portfolio Pulse from Mehab Qureshi

March 14, 2024 | 3:52 am

CERS

COIN

PATH

PINS

SSYS

TWLO

Cathie Wood's Ark Invest sold shares of Coinbase Global Inc (COIN) and bought shares of Pinterest Inc (PINS), despite Bitcoin reaching new highs. Ark sold 10,995 COIN shares across three ETFs for $2.8 million, while purchasing 34,653 PINS shares for $1.12 million. Additionally, Ark made other trades including selling UiPath Inc (PATH), buying Cerus Corp (CERS), and selling shares of Twilio Inc (TWLO) and Stratasys Ltd (SSYS).

Portfolio Pulse from Benzinga Neuro

March 14, 2024 | 3:41 am

BRPHF

BTCUSD

ETHUSD

Galaxy Digital CEO Mike Novogratz predicts Bitcoin's price floor at $50,000, attributing this to the inflows into U.S. spot Bitcoin ETFs. He suggests Bitcoin could reach $100,000 and highlights the market shift following spot ETF approvals. Novogratz also notes the recent Ethereum rally, anticipating U.S. approval for spot Ethereum ETFs.

Portfolio Pulse from Murtuza Merchant

March 13, 2024 | 11:18 pm

BONKUSD

Bonk (CRYPTO: BONK) has seen a 150% monthly gain, with its market cap reaching $2.03 billion and matching Dogwifhat's trading volume. Franklin Templeton Digital Assets' report and CoinMarketCap's award highlight Bonk's growth and potential. Predictions suggest Bonk could reach a $10 billion market cap within six months, driven by retail and ETF TWAP buys.

Portfolio Pulse from Khyathi Dalal

March 13, 2024 | 11:11 pm

CCJ

DNN

ISENF

UEC

URG

UUUU

Ur-Energy Inc. (NYSE:URG) announced plans to develop its Shirley Basin mine in Wyoming, aiming to nearly double its mine production capacity to 2.2 million pounds of uranium. The decision is driven by a growing uranium sales contract book, strong market prices, and anticipated demand for clean nuclear power. The project, with initial capital costs of $24.4 million and operating expenses of $24.40 per pound, is expected to offer substantial margins given the current uranium price of around $90 a pound. The development comes amid a surge in uranium prices, driven by expectations of a global nuclear power renaissance and potential market disruptions. Other companies like Cameco Corp (NYSE:CCJ), Energy Fuels Inc (NYSE:UUUU), Denison Mines Corp. (NYSE:DNN), Uranium Energy Corp. (NYSE:UEC), and IsoEnergy Ltd (OTC:ISENF) are also expanding their uranium production capacities.

Portfolio Pulse from Matt Whittaker

March 13, 2024 | 10:56 pm