Streetbeat News

Assets

PSBD

Palmer Square Capital BDC has completed its initial public offering (IPO), offering 5.45 million common shares at a price of $16.45 per share. The shares began trading on the New York Stock Exchange on January 18, 2024, under the ticker symbol 'PSBD'. The company raised approximately $89.7 million in gross proceeds, which will be used to make investments aligned with its investment objectives and strategies.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 7:10 am

BHP

BHP has selected six companies from over 500 applicants for its BHP Xplor accelerator program, aimed at supporting early-stage mineral exploration companies. Each company will receive up to $500,000 and expert network access to advance exploration for resources critical to the energy transition.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 7:08 am

INBX

SNY

Inhibrx, Inc. has agreed to sell its INBRX-101 assets to Sanofi for up to $2.2 billion. Shareholders of Inhibrx will receive $30 per share in cash, a $5 contingent value right (CVR), and 0.25 shares of a new entity, New Inhibrx, which will hold all non-101 assets and liabilities. Sanofi will also pay off Inhibrx's debt and invest $200 million in New Inhibrx. The deal includes the acquisition of INBRX-101, an AAT augmentation therapy, by Sanofi's subsidiary Aventis Inc.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 6:09 am

ARKB

ARKW

BITO

META

MSFT

Ark Invest, led by Cathie Wood, sold 648,091 units of ProShares Bitcoin Strategy ETF (BITO) worth $12.6 million and bought 523,541 units of ARK 21Shares Bitcoin ETF (ARKB) valued at $21.04 million through ARK Next Generation Internet ETF (ARKW). The firm also bought shares of Meta Platforms Inc (META) and sold shares of Microsoft Corp (MSFT). These trades occurred amid a volatile crypto market, with Bitcoin (BTC) briefly dropping below $40,000.

Portfolio Pulse from Benzinga Neuro

January 23, 2024 | 4:19 am

BITO

GBTC

HODL

Peter Schiff criticized Bitcoin ETFs, highlighting their significant declines since launch. He specifically mentioned the Vaneck Bitcoin Trust ($HODL), suggesting a symbol change to $GTFO, and the ProShares Bitcoin Strategy ETF ($BITO), which has lost over 50% since its inception. Additionally, the FTX estate sold a large portion of its Grayscale Bitcoin Trust (GBTC) holdings, contributing to over $700 million in Bitcoin sales since January 11.

Portfolio Pulse from Mehab Qureshi

January 23, 2024 | 4:03 am

FBTC

GBTC

IBIT

Major cryptocurrencies Bitcoin, Ethereum, and Dogecoin experienced declines amid rising outflows from Grayscale's GBTC. BlackRock's IBIT and Fidelity's FBTC spot Bitcoin ETFs attracted over $1 billion in AUM each, post-launch. FTX offloaded its entire GBTC stake valued at nearly $1 billion. The global cryptocurrency market cap decreased by 1.59%. The S&P 500 and Nasdaq Composite hit record highs. Analysts predict Ethereum may outperform Bitcoin, and Bitcoin's price movements are influenced by ETF flows around the US market open.

Portfolio Pulse from Mehab Qureshi

January 23, 2024 | 3:03 am

DKNG

Former President Donald Trump is predicted to win the New Hampshire GOP primary with a 98% chance according to Polymarket, a cryptocurrency prediction market. Trump's strong position comes after winning the Iowa caucus and the withdrawal of candidates Ron DeSantis and Vivek Ramaswamy, who have since endorsed Trump. Nikki Haley remains in the race, but her odds are significantly lower. The New Hampshire primary betting has attracted over $4 million in wagers. DraftKings Inc's CEO expressed interest in political betting, which remains illegal in the U.S. The 2024 presidential election betting has reached $14.6 million, with Trump leading over Joe Biden.

Portfolio Pulse from Chris Katje

January 23, 2024 | 12:24 am

ADAUSD

BTCUSD

ETHUSD

SOLUSD

XRPUSD

The cryptocurrency market is experiencing a downturn, with major coins like Ethereum (ETH), Solana (SOL), XRP, and Cardano (ADA) in the red. Despite this, an analyst predicts Ethereum could outperform Bitcoin (BTC) in the near future. Ethereum's upcoming Dencun upgrade is expected to improve transaction speeds and reduce costs, which may be driving whale accumulation of the asset. Ethereum's total value locked has also increased by 9.1% over the past month.

Portfolio Pulse from Khyathi Dalal

January 22, 2024 | 10:33 pm

VRM

Vroom, Inc. (NASDAQ:VRM) shares plummeted over 50% in after-hours trading following the announcement that the company is discontinuing its used vehicle dealership operations. The decision is part of the Value Maximization Plan to preserve liquidity and maximize stakeholder value. The plan includes halting transactions on vroom.com, liquidating vehicle inventory through wholesale channels, stopping vehicle acquisitions, and reducing the workforce. CEO Thomas Shortt cited the inability to raise necessary capital in the current market as the reason for the decision.

Portfolio Pulse from Ryan Gustafson

January 22, 2024 | 10:29 pm

YS Biopharma reported a half-year loss per share of $(0.26) and a net loss of $(24.3) million. The company's cash and cash equivalents decreased to RMB259.9 million ($36.2 million) as of September 30, 2023, from RMB370.4 million as of March 31, 2023.

Portfolio Pulse from Benzinga Newsdesk

January 22, 2024 | 10:08 pm