Streetbeat News

Assets

OPT

Opthea, a biotech company, has received an R&D tax credit of A$8.8 million (approximately $5.9 million) from the Australian Taxation Office. This financial boost acknowledges the company's research and development efforts.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 11:02 am

BONK

SOL

WIF

Dogwifhat (CRYPTO: WIF), a new Solana-based meme coin, has surged 2000% in value in less than a month, outperforming BONK (CRYPTO: BONK), another Solana-based meme coin. The rise in Dogwifhat's value has also positively affected a collection of 550 Dogwifhat Solana NFTs, with the cheapest item now selling for 13.2 SOL or $955. Solana (CRYPTO: SOL) itself has seen a significant rise in value, but not as much as BONK or WIF.

Portfolio Pulse from Mehab Qureshi

December 19, 2023 | 9:27 am

NFLX

Western companies exiting Russia are facing increased scrutiny from the Kremlin, with stringent conditions and government oversight on corporate exit strategies. This policy has been in place since Russia's invasion of Ukraine. Companies like McDonald's and Starbucks left early, but now exits require state donations, asset sales at discounts, and government approval. The energy sector requires President Putin's approval for asset sales. Companies such as Danone and Carlsberg have seen their operations temporarily controlled by Russia. Netflix Inc. has halted projects and acquisitions in Russia in response to sanctions.

Portfolio Pulse from Benzinga Neuro

December 19, 2023 | 8:27 am

BTCUSD

MSTR

Michael Saylor, MicroStrategy's Executive Chairman, expressed confidence in Bitcoin's future, predicting its value could reach a million dollars if it doesn't go to zero. He cited global inflation as a key driver for BTC adoption and welcomed new FASB rules for cryptocurrency accounting. MicroStrategy, which began investing in Bitcoin in August 2020, holds 174,530 BTC with an average purchase price of $30,252 each. BTC's price has risen 56% since early October and was trading at $42,926 at the time of the article.

Portfolio Pulse from Mehab Qureshi

December 19, 2023 | 6:23 am

PAAS

Pan American has released a Preliminary Economic Assessment for the La Colorada Skarn Project, projecting an average annual production of 17.2 million ounces of silver, 427 thousand tonnes of zinc, and 218 thousand tonnes of lead over the first 10 years. The project is expected to have a 17-year mine life with significant exploration potential. Financial projections include an after-tax NPV(8%) of $1,087 million, a 14% IRR, and a payback period of 4.3 years, based on long-term price estimates for silver, zinc, and lead. Pan American is exploring partnerships to develop the project, focusing on silver production.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 6:19 am

AEE

Ameren Corporation (NYSE:AEE) has priced a public offering of $700 million in 5.00% senior notes due 2029 at 99.774% of their principal amount. The offering is expected to close on December 21, 2023. Ameren plans to use the proceeds for general corporate purposes and to repay part of its short-term debt.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 6:09 am

GBTC

PINS

Ark Invest, led by Cathie Wood, sold shares of Block Inc (SQ) and Grayscale Bitcoin Trust (GBTC) totaling over $53.6 million. The sales occurred as Bitcoin and Ethereum experienced price rallies. Ark sold 347,692 shares of Block through ARK Next Generation Internet ETF (ARKW), valued at $25.7 million, and 809,441 GBTC units through ARKW, valued at $27.95 million. The sales follow Wood's criticism of a short report on Block and her comments on the potential threat to GBTC's market dominance from a U.S. Bitcoin ETF. Ark is also awaiting SEC approval for its own Bitcoin ETF. Additionally, Ark Invest bought shares of Pinterest Inc (PINS), signaling increased interest in the social media company.

Portfolio Pulse from Benzinga Neuro

December 19, 2023 | 3:32 am

BLK

Cryptocurrencies Bitcoin, Ethereum, and Dogecoin experienced price surges following BlackRock's amended S-1 filing with the SEC for a proposed spot Bitcoin ETF with the ticker IBIT. The filing details the fund's creation and redemption process, which will initially be cash-based. Analysts predict Bitcoin could reach new highs, potentially $100,000, especially if a spot market Bitcoin ETF is approved before April 2024's halving event. The global crypto market cap is at $1.56 trillion, and the S&P 500 and Nasdaq continue to rise.

Portfolio Pulse from Mehab Qureshi

December 19, 2023 | 2:59 am

AVAXUSD

BTCUSD

ETCUSD

Avalanche (AVAX) is experiencing significant growth, with an 85% increase in the last month, outpacing Bitcoin (BTC) and Ethereum (ETC). The network's trading volume has risen by 21%, and a record number of tokens have been burned, valued at $16.7 million. New partnerships, such as with Masa for a ZK-data network, are also contributing to the positive outlook. However, technical indicators suggest a potential short-term price drop for AVAX.

Portfolio Pulse from Khyathi Dalal

December 18, 2023 | 10:35 pm

IJJ

VOOV

XLB

XOP

Mid-cap ETFs with AUM between $2 billion and $10 billion were screened for weekly performance. iShares S&P Mid-Cap 400 Value ETF (IJJ) and Vanguard S&P 500 Value ETF (VOOV) saw significant inflows, while Materials Select Sector SPDR Fund (XLB) and SPDR S&P Oil & Gas Exploration & Production ETF (XOP) experienced notable outflows. IJJ and VOOV are positioned as 'value' funds, with IJJ holding Jabil Inc. (JBL) and Equity LifeStyle Properties, Inc. (ELS) as its largest holdings, and VOOV holding Microsoft Corporation (MSFT) and Meta Platforms Inc. (META). XLB's largest holdings include Linde plc. (LIN) and Sherwin-Williams Company (SHW), while XOP's include Phillips 66 (PSX) and Chord Energy Corporation (CHRD).

Portfolio Pulse from Johnny Rice

December 18, 2023 | 10:32 pm